MIRA
INFORM REPORT
|
Report Date : |
14.05.2011 |
IDENTIFICATION DETAILS
|
Name : |
CHIYODA EUROPA NV |
|
|
|
|
Registered Office : |
Henry Fordlaan 37 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.07.2009 |
|
|
|
|
Date of Incorporation : |
15.07.1983 |
|
|
|
|
Com. Reg. No.: |
424426666 |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Manufacture of other articles of paper and paperboard |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
Maximum Credit Limit : |
(€) 885,000 |
|
Status : |
Good |
|
Payment Behaviour : |
No Complaints |
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 31, 2010
|
Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
|
Belgium |
a1 |
a1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Company
Summary
|
Company Summary |
|
|
Business Name |
CHIYODA EUROPA NV |
|
Business Number |
424426666 |
|
Address |
HENRY FORDLAAN 37 |
|
Post Code |
3600 |
|
Telephone |
089610711 |
|
Fax Number |
089613020 |
|
Date of Establishment |
15/07/1983 |
|
Number of Employees |
246 |
|
Credit Information Summary |
|
|
Credit Limit (€) |
885,000 |
|
Purchase Limit (€) |
12,800,000 |
|
Date of Deposit at Registry |
15/01/2010 |
|
Date of Last Accounts |
31/07/2009 |
|
Turnover |
51,340,387 |
|
Results of Ordinary Operations Before Tax |
-556,623 |
|
Networth |
18,792,844 |
|
Past Payments |
|
|
Payment Expectation Days |
42.93 |
|
Days Sales Outstanding |
37.29 |
|
Industry Average Payment Expectation Days |
61.68 |
|
Industry Average Day Sales Outstanding |
147.17 |
|
Court Data Summary |
|
|
bankruptcy details |
|
|
Court Action Type |
None |
|
Protested Bills |
|
|
Bill Amount |
|
|
NSSO Details |
|
|
Date of Summons |
// |
Company
Information
|
company details |
|
|
Business Number |
424426666 |
|
Name |
CHIYODA EUROPA NV |
|
Fax Number |
089613020 |
|
Establishment Date |
15/07/1983 |
|
Company Status |
ACTIVE |
|
Company Type |
Limited company |
|
Activity Description |
Manufacture of other articles of paper and paperboard |
|
Activity Code |
17290 |
|
Liable For Vat |
yes |
|
Currency |
Euro (€) |
|
Latest Event |
|
|
Serial Number |
159609 |
|
Event Description |
Change of date of general meeting |
Accounts
& Ratio
|
Period |
|||||
|
Accounts End Date |
31/07/2009 |
% |
31/07/2008 |
% |
31/07/2007 |
|
Weeks |
52 |
- |
52 |
- |
52 |
|
Currency |
EUR |
- |
EUR |
- |
EUR |
|
Profit & Loss |
|||||
|
Turnover |
51,340,387 |
-19.7% |
63,919,457 |
-3.0% |
65,922,666 |
|
Total Operating Expenses |
50,486,213 |
-14.6% |
59,143,779 |
-7.1% |
63,687,603 |
|
Operating Result |
854,174 |
-82.1% |
4,775,678 |
113.7% |
2,235,063 |
|
Total Financial Income |
122,375 |
-20.1% |
153,144 |
-14.2% |
178,489 |
|
Total Financial Expenses |
1,518,256 |
167.8% |
-2,238,823 |
-221.9% |
1,836,270 |
|
Results on Ordinary Operations Before Tax |
-557,818 |
-107.8% |
7,123,215 |
1,245.1% |
529,568 |
|
Taxation |
-1,195 |
-102.8% |
43,170 |
-83.7% |
264,255 |
|
Results on Ordinary Operations After Tax |
-556,623 |
-107.9% |
7,080,045 |
2,568.6% |
265,313 |
|
Extraordinary Items |
5,006 |
100.1% |
-6,288,416 |
-4,278.8% |
-143,611 |
|
Net Result |
-490,527 |
-157.1% |
859,273 |
351.6% |
190,294 |
|
Other Information |
|||||
|
Dividends |
- |
- |
- |
- |
- |
|
Director Remuneration |
- |
- |
- |
- |
- |
|
Employee Costs |
13,412,816 |
-0.1% |
13,424,120 |
0.1% |
13,406,414 |
|
- Wages & Salaries |
8,956,396 |
-0.6% |
9,006,936 |
-0.4% |
9,046,937 |
|
- Social Security Contributions |
3,529,417 |
1.8% |
3,466,421 |
-0.1% |
3,469,680 |
|
- Other Employee Costs |
600,115 |
-8.2% |
653,901 |
6.1% |
616,224 |
|
Amortization & Depreciation |
2,612,822 |
-4.8% |
2,743,554 |
-20.8% |
3,465,373 |
|
Balance Sheet |
|||||
|
Accounts End Date |
31/07/2009 |
% |
31/07/2008 |
% |
31/07/2007 |
|
Weeks |
52 |
- |
52 |
- |
52 |
|
Intangible Fixed Assets |
62,399 |
10.1% |
56,676 |
-36.2% |
88,883 |
|
Tangible Fixed Assets |
12,043,829 |
-8.8% |
13,204,420 |
-5.6% |
13,993,578 |
|
- Land And Buildings |
3,015,386 |
-5.9% |
3,204,865 |
-10.1% |
3,565,237 |
|
- Plant And Machinery |
8,839,279 |
-6.6% |
9,460,845 |
2.7% |
9,208,484 |
|
- Other Tangible Assets |
189,164 |
-64.9% |
538,710 |
-55.8% |
1,219,857 |
|
Financial Fixed Assets |
26,389 |
-3.7% |
27,390 |
-99.5% |
5,575,689 |
|
Total Fixed Assets |
12,132,617 |
-8.7% |
13,288,486 |
-32.4% |
19,658,150 |
|
Inventories |
|||||
|
- Raw Materials & Consumables |
3,812,489 |
-13.0% |
4,381,023 |
-21.9% |
5,606,309 |
|
- Work in Progress |
99,930 |
117.2% |
46,008 |
-84.2% |
291,652 |
|
- Finished Goods |
3,154,902 |
-19.9% |
3,937,431 |
-13.6% |
4,556,892 |
|
- Other Stocks |
0 |
-100.0% |
1 |
- |
0 |
|
Trade Debtors |
5,244,834 |
-27.3% |
7,212,523 |
494.7% |
1,212,713 |
|
Cash |
4,037,369 |
-2.2% |
4,129,139 |
-13.3% |
4,764,349 |
|
- Miscellaneous Current Assets |
387,081 |
-22.0% |
495,962 |
-91.6% |
5,889,716 |
|
Total Current Assets |
16,801,157 |
-21.7% |
21,463,149 |
-5.8% |
22,776,575 |
|
|
|||||
|
- Trade Creditors |
5,937,381 |
-30.4% |
8,536,153 |
-45.8% |
15,759,496 |
|
- Short Term Group Loans |
808,828 |
523.7% |
129,682 |
-89.2% |
1,197,374 |
|
- Other Short Term Loans |
1,859,960 |
-43.9% |
3,316,260 |
-24.0% |
4,365,731 |
|
- Miscellaneous Current Liabilities |
450,922 |
-61.6% |
1,175,223 |
988.7% |
-132,243 |
|
Total Current Liabilities |
9,057,091 |
-31.2% |
13,157,318 |
-37.9% |
21,190,358 |
|
|
|||||
|
- Long Term Group Loans |
0 |
- |
0 |
- |
0 |
|
- Other Long Term Loans |
33,429 |
-96.5% |
963,409 |
-44.9% |
1,748,907 |
|
- Other Long Term Liabilities |
988,011 |
-19.4% |
1,225,088 |
38.0% |
887,791 |
|
Total Long Term Debts |
1,021,440 |
-53.3% |
2,188,497 |
-17.0% |
2,636,698 |
|
|
|||||
|
- Issued Share Capital |
3,967,000 |
0.0% |
3,967,000 |
0.0% |
3,967,000 |
|
- Share Premium Account |
0 |
- |
0 |
- |
0 |
|
- Reserves |
14,888,243 |
-3.6% |
15,438,820 |
5.5% |
14,640,668 |
|
- Revaluation Reserve |
0 |
- |
0 |
- |
0 |
|
Total Shareholders Equity |
18,855,243 |
-2.8% |
19,405,820 |
4.3% |
18,607,668 |
|
|
|||||
|
Working Capital |
7,744,066 |
-6.8% |
8,305,831 |
423.6% |
1,586,217 |
|
Net Worth |
18,792,844 |
-2.9% |
19,349,144 |
4.5% |
18,518,785 |
|
Ratio Analysis |
||||||
|
Trading Performance |
||||||
|
Pre-tax Profit Margin |
-1.09 |
-109.8% |
11.14 |
1,292.5% |
0.80 |
|
|
Return On Capital Employed |
-2.81 |
-108.5% |
32.99 |
1,224.9% |
2.49 |
|
|
Return On Total Assets Employed |
-1.93 |
-109.4% |
20.50 |
1,540.0% |
1.25 |
|
|
Return On Net Assets Employed |
-7.20 |
-108.4% |
85.76 |
156.8% |
33.39 |
|
|
Sales / Net Working Capital |
6.63 |
-13.9% |
7.70 |
-81.5% |
41.56 |
|
|
Operating Efficiency |
|
|||||
|
Stock Turnover Ratio |
13.77 |
5.2% |
13.09 |
-17.5% |
15.86 |
|
|
Debtor Days |
37.29 |
-9.5% |
41.19 |
513.9% |
6.71 |
|
|
Creditor Days |
42.93 |
-18.5% |
52.68 |
-41.7% |
90.32 |
|
|
Short Term Stability |
|
|||||
|
Current Ratio |
1.86 |
14.1% |
1.63 |
52.3% |
1.07 |
|
|
Liquidity Ratio / Acid Ratio |
1.07 |
7.0% |
1.00 |
72.4% |
0.58 |
|
|
Current Debt Ratio |
0.48 |
-29.4% |
0.68 |
-40.4% |
1.14 |
|
|
Long Term Stability |
|
|||||
|
Gearing |
14.33 |
-36.9% |
22.72 |
-42.2% |
39.30 |
|
|
Equity In Percentage |
0.65 |
16.1% |
0.56 |
27.3% |
0.44 |
|
|
Total Debt Ratio |
0.14 |
-39.1% |
0.23 |
-41.0% |
0.39 |
|
Payment
Expectations
|
Payment Expectations |
|
|
Payment Expectation Days |
42.93 |
|
Day Sales Outstanding |
37.29 |
|
Industry Comparison |
|
|
Activity Code |
1729 |
|
Activity Description |
Manufacture of other articles of paper and paperboard |
|
Industry Average Day Sales Outstanding |
147.17 |
|
Industry Average Payment Expectation Days |
61.68 |
|
Industry Quartile Analysis |
|
|
Payment Expectation Days |
|
|
Payment Expectations - Lower |
48.83 |
|
Payment Expectations - Median |
61.76 |
|
Payment Expectations - Upper |
98.89 |
|
Day Sales Outstanding |
|
|
Day Sales Outstanding - Lower |
33.76 |
|
Day Sales Outstanding - Median |
47.15 |
|
Day Sales Outstanding - Upper |
66.43 |
Shareholders
|
No holding companies for this company. |
|
No subsidaries for this company. |
Court
Data
|
Bankruptcy Data |
|
There is no bankruptcy data against this company. |
Directors
|
Company Director |
|
|
Full Name |
CHIYODA GRAVURE CORPORATION |
|
Position |
Chairman of the board |
|
Address |
1 OSAKI SHINAGAWA-KU |
|
Postal Code |
0 |
|
Country |
|
|
Company Director |
|
|
Full Name |
CHIYODA EXPRESS CORPORATION |
|
Position |
Director |
|
Address |
1 OSAKI SHINAGAWA-KU |
|
Postal Code |
0 |
|
Country |
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.91 |
|
|
1 |
Rs.73.06 |
|
Euro |
1 |
Rs.64.03 |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership background
(20%) Payment record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.