MIRA INFORM REPORT

 

 

Report Date :

12.11.2011

 

IDENTIFICATION DETAILS

 

Name :

SUN SPICES S.A.

 

 

Registered Office :

157 Ag. Ioanni Renti 18541 Piraeus Attiki       

 

 

Country :

Greece     

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

01.01.1986.

 

 

Com. Reg. No.:

006338

 

 

Legal Form :

Societe Anonyme

 

 

Line of Business :

Manufactures roasted coffee. Packaging of spices, herbs, incense and bird feed

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct

 

 

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 – September 30, 2011

 

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

Greece

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

COMPANY NAME 

 

SUN SPICES S.A.

 

 

IDENTIFICATION DETAILS

         

ADDRESS:            157 AG. IOANNI RENTI                                     

                               18541 PIRAEUS                                            

                               ATTIKI                                                   

                                GREECE                                                    

 

TELEPHONE:          30  2104812898                                           

                               30  2104812401                                           

                               30  2104812077                                            

TELEFAX:                30  2104826067                                           

E-MAIL ADDRESS:     sunspice@otenet.gr                                       

WEB ADDRESS:        www.sunspices.gr                                          

 

 

SENIOR COMPANY PERSONNEL

 

Maria Dio. Athanassiou 
             member 
            
      Styliani-Katina Bas. Diamantopoulou 
             member 
             shareholder 
            
      Basil Sty. Diamantopoulos 
             chief executive 
             shareholder 
            
      Varvara Bas. Diamantopoulou 
             vice-chairman 
             shareholder 
            
      Basil Sty. Diamantopoulos 
             chairman 
             shareholder

 

  

WORKFORCE

 

EMPLOYS: 73

The number of employees varies according to needs.

 The number of employees peaks to 73.

 

 

PAYMENTS

 

Informants report that subject's payments are prompt.

 

 

RATINGS

 

Low Risk

 

 

BANKERS

 

Alpha Bank A.E., Neo Faliro Branch branch., 74a Athinon-Pireos, Piraeus 18547, Greece. 
      Telephone: 30 2104813454 
National Bank of Greece S.A., Kaminia Branch branch., Fokaias &
Sarantaporou, Piraeus 18547, Greece. 
      Telephone: 30 2104810054 
Geniki Bank, Piraeus Branch branch., 21-23 Gounari Ave, Piraeus 18531, Greece. 
      Telephone: 30 2104179333

 

 

FINANCIALS

 

FINANCES  
                            Fiscal           Fiscal          Fiscal
                         Dec 31,2008      Dec 31,2009     Dec 31,2010
Turnover                   5,690,311        6,004,827       5,339,910
Pre-Tax Profit              86,217           58,572          53,016
Net Worth                 3,562,587        3,500,887       3,494,560
Fixed Assets              1,172,293        1,242,133       1,202,827
Total Assets              7,364,224        8,405,361       8,195,822
Current Assets            6,015,035        7,020,502       6,513,079
Current Liabilities       3,657,138        4,763,886       4,692,590
Working Capital           2,357,897        2,256,616       1,820,489
Long Term Debt            144,499          140,588           8,672
Financial Assets            1,922            1,922           1,922
Intangibles                174,974          140,804         477,993
Employees                     80               80              73
 
Net Worth and Total Assets are tangible figures shown after the deduction of intangible assets. 
 
 
 RATIOS 
                         Dec 31,2008      Dec 31,2009     Dec 31,2010
Current Ratio (X)             1.64             1.47            1.39
Solvency Ratio (%)           206.71           240.09          234.53
Fixed Assets/Net Worth (%)    32.91            35.48           34.42
Current Liabs/Net Worth (%)   102.65           136.08          134.28
Asset Turnover (%)            77.27            71.44           65.15
Sales / Net Working Cap (X)    2.41             2.66            2.93
Assets / Sales (%)            129.42           139.98          153.48
Profit Margin (%)             1.52             0.98            0.99
S/holders Return (%)          2.42             1.67            1.52
Return On Assets (%)          1.17             0.70            0.65
Sales / Employees          71,128.89        75,060.34       73,149.45
Profit / Employees          1,077.71           732.15          726.25
 
     According to the balance sheet as of Dec 31, 2010. 
     
     The below mentioned financial figures are in Euro.
          
    Sales for the -1 month period ending Sep 30, 2011 were 2,500,000.

 

 

LEGAL STATUS

 

Business started Jan 1, 1986.

 

Societe anonyme registered on Jan 1, 1986 for a period ending Dec 31, 2036.

Registration Number: 006338

Government Gazette Number: 03238 / 1986

Tax Registration Number: 094173445

    

Established in Piraeus (Andritsainis & 12 Paxon streets), in 1986. In 1988(Gov. Gaz. No 3771/88), subject moved its head office to Ag. Ioannis Rentis, at the above mentioned address.

 

 

CAPITAL DETAILS

 

Nominal capital: 872,922. Issued capital: 872,922.

Issued/paid-up capital was last increased on Nov 9, 2006.

 

 

SHAREHOLDERS

 

Basil Diamantopoulos holds 52.05% of the voting capital.

Varvara Diamantopoulou holds 39.82% of the voting capital.

Styliani-Katina Diamantopoulou holds 8.13% of the voting capital.                                         

 

 

 

LINKED COMPANIES

 

Non Retrievable

 

 

ACTIVITIES

 

Local Activity Code:                 1084                                          

Local Activity Code Type:         STAKOD                                        

Equivalent to:                          NACE 1                                        

    

Engaged in food preparations

Manufactures roasted coffee

Packaging of spices, herbs, incense and bird feed , Subject distributes its goods through representatives to 3,000 customers all over the Greece(mainly supermarkets).

 

 

IMPORTS

 

Imports 70% from Brazil, China, Egypt, India, Singapore, Spain, Turkey 
Normal importing terms are cash against documents

 

 

EXPORTS

 

Exports 5% to Denmark, Germany, Netherlands, Switzerland

Normal exporting terms are cash against documents

 

 

PREMISES / REAL ESTATE

 

Operates from owned factory, covering approximately 2,000 square metres, at heading address.

    

The site covers approximately 3,300 square metres.

    

REGISTERED OFFICE: At heading address.

 

 

BRANCHES

 

Subject has 1 branches/divisions 
18 Aitoloakarnanias, 18541, Piraeus, Greece. These are rented warehouse premises.

 

GENERAL COMMENTS 

 

Subject is a long established family run industrial firm. Its products are of good quality and well known in the Market.

 

Please note that the report was prepared for SUN SPICES S.A., as it has the same address with the one requested.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.50.28

UK Pound

1

Rs.80.08

Euro

1

Rs.68.44

 

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.