MIRA INFORM REPORT

 

 

Report Date :           

30.11.2011

 

IDENTIFICATION DETAILS

 

Name :

INOXIDABLES DEL SUR ESTE SA

 

 

Registered Office :

Poligono Industrial El Tapiado, Calle Jake, S/N, Molina De Segura, 30500

 

 

Country :

Spain

 

 

Financials (as on) :

31.12.2010

 

 

Year of Establishment :

2000

 

 

Com. Reg. No.:

A73094666

 

 

Legal Form :

Public Independent Company

 

 

Line of Business :

Other non-ferrous metal production

 

 

No. of Employees :

4 Persons

 

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 :

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 – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

Spain

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name & address 

 

Inoxidables Del Sur Este Sa

Poligono Industrial El Tapiado, Calle Jake, S/N

Molina De Segura, 30500

Spain

 

 

Synthesis     

 

Employees:                   4

Company Type:            Public Independent

Incorporation Date:         2000

Auditor:                        Abante Audiest Auditores Sap   

Financials in:                 USD (Millions)

Fiscal Year End:            18-Oct-2011

Reporting Currency:       Euro

Annual Sales:               6.7  1

Net Income:                  0.4

Total Assets:                8.8

 

 

Business Description     

 

Other non-ferrous metal production

 

Industry

Industry            Metal Mining

ANZSIC 2006:    2139 - Other Basic Non-Ferrous Metal Manufacturing

NACE 2002:      2745 - Other non-ferrous metal production

NAICS 2002:     331491 - Nonferrous Metal (except Copper and Aluminum) Rolling, Drawing, and Extruding

UK SIC 2003:    2745 - Other non-ferrous metal production

US SIC 1987:    3339 - Primary Smelting and Refining of Nonferrous Metals, Except Copper and Aluminum

 

           

Key Executives   

 

Name

Title

Garcia Hernandez Lucia

Administrator, Director/General Manager

Garcia Hernandez Ascension Maria

Joint Attorney

Hernandez Martin Garcia

Joint Attorney

 

 

Registered No.(ESP): A73094666

 

1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7185613

2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7307805

 

 

Corporate Overview

 

Location

Poligono Industrial El Tapiado, Calle Jake, S/N

Molina De Segura, 30500

Spain

           

Sales EUR(mil):             4.8

Assets EUR(mil):           6.5

Employees:                   4

Fiscal Year End:            18-Oct-2011

Industry:                        Metal Mining

Incorporation Date:         2000

Company Type:             Public Independent

Quoted Status:              Not Quoted

Registered No.(ESP):     A73094666

Administrator, Director/General Manager: Garcia Hernandez Lucia

 

Contents

·         Industry Codes

·         Business Description

·         Financial Data

·         Key Corporate Relationships

 

Industry Codes

 

ANZSIC 2006 Codes:

2139     -          Other Basic Non-Ferrous Metal Manufacturing

 

NACE 2002 Codes:

2745     -          Other non-ferrous metal production

 

NAICS 2002 Codes:

331491  -          Nonferrous Metal (except Copper and Aluminum) Rolling, Drawing, and Extruding

 

US SIC 1987:

3339     -          Primary Smelting and Refining of Nonferrous Metals, Except Copper and Aluminum

 

UK SIC 2003:

2745     -          Other non-ferrous metal production

 

Business Description

Other non-ferrous metal production

 

 

Financial Data

Financials in:

EUR(mil)

 

Revenue:

4.8

Net Income:

0.3

Assets:

6.5

Current Assets:

4.3

 

Fixed Assets:

2.2

 

Long Term Debt:

0.3

 

Total Liabilities:

6.5

 

Issued Capital:

0.1

 

Net Worth:

3.8

 

 

 

Date of Financial Data:

18-Oct-2011

 

1 Year Growth

NA

NA

NA

 

Key Corporate Relationships

Auditor:

Abante Audiest Auditores Sap

Bank:

Banco Español De Credito, S.A., Banco Popular Español, S.A., Banco Bilbao Vizcaya Argentaria, S.A.

 

Auditor:

Abante Audiest Auditores Sap

 

 

 

 

 

 

 

 

 

 

 

 

Executive report

 

Executives

 

Name

Title

Function

 

Garcia Hernandez Lucia

 

Administrator, Director/General Manager

Division Head Executive

 

Garcia Hernandez Ascension Maria

 

Joint Attorney

Legal Executive

 

Hernandez Martin Garcia

 

Joint Attorney

Legal Executive

 

 

 

Annual Profit & Loss

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

Period Length

12 Months

12 Months

12 Months

Filed Currency

EUR

EUR

EUR

Exchange Rate (Period Average)

0.755078

0.719047

0.683679

Consolidated

No

No

No

 

 

 

 

Charges

6.2

4.9

6.8

    Staff Costs

0.2

0.3

0.2

        Wages and Salaries

0.1

0.2

0.2

        Social Security Costs

0.0

0.1

0.0

    Depreciation

0.0

0.0

0.0

    Other Operating Charges

1.0

0.8

0.8

Operating Benefits

0.3

0.1

0.8

    Financials and Similar Charges

0.1

0.1

0.2

        Due to Other Liabilities

0.1

0.1

0.2

    Exchange Losses

0.0

-

-

Net Financial Income

0.1

0.0

-

Profit From Ordinary Activities

0.5

0.1

0.7

    Losses From Assets and Securities Portfolio

0.0

-

-

Extraordinary Profit

0.0

0.0

-

Profit Before Taxes

0.5

0.1

0.7

    Corporation Tax

0.1

0.0

0.2

Financial Year Result (Profit)

0.3

0.1

0.5

Income

6.6

5.0

7.2

    Net Total Sales

6.3

4.9

7.2

Negative Financial Results

-

-

0.1

    Extraordinary Income

0.0

0.0

-

 

 

Annual Balance Sheet

Financials in: USD (mil)

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

Filed Currency

EUR

EUR

EUR

Exchange Rate

0.745406

0.696986

0.719399

Consolidated

No

No

No

 

 

 

 

        Concessions, Patents, Trademarks

0.0

0.0

0.0

    Total Intangible Fixed Assets

0.0

0.0

0.0

        Technical Installations and Machinery

0.1

0.1

0.1

        Other Installations, Tools, and Furniture

0.0

0.0

0.0

    Total Tangible Fixed Assets

0.1

0.2

0.1

        Other Receivables

2.9

1.3

-

    Financial Investments

2.9

1.3

-

Total Fixed Assets

3.0

1.5

0.1

        Goods for Resale

2.2

2.0

2.5

    Total Stocks

2.2

2.0

2.5

        Trade Debtors

2.0

1.8

5.1

        Other Debtors

0.0

0.0

0.0

        Staff

0.0

0.0

0.0

        Public Bodies

0.1

0.0

-

    Total Debtors

2.1

1.8

5.2

        Other Receivables

1.2

3.4

1.1

    Total Short-Term Investments

1.2

3.4

1.1

    Cash

0.2

0.1

0.2

    Prepayments and Accrued Income

0.0

0.0

-

Total Current Assets

5.7

7.4

8.9

Total Assets

8.7

8.9

9.1

        Legal Reserve

0.0

0.0

0.0

        Miscellaneous Reserves

4.6

5.4

4.7

    Total Reserves

4.6

5.4

4.8

    Profit or Loss for the Financial Year

0.3

0.1

0.4

Total Equity

5.1

5.6

5.3

        Loans and Other Liabilities

0.4

0.4

-

        Long-Term Liabilities from Capital Leases

0.0

0.1

0.1

    Total Amounts Owed to Credit Institutions

0.4

0.5

0.1

Total Long Term Liabilities

0.4

0.5

0.1

        Loans and Other Liabilities

2.1

1.3

1.8

        Short-Term Liabilities from Capital Leases

0.0

0.0

0.0

    Total Amounts Owed to Credit Institutions

2.1

1.3

1.8

        Advanced Payments from Customers

0.0

-

-

        Amounts Owed for Purchases of Goods or Services

1.1

1.4

0.9

    Total Trade Creditors

1.1

1.4

0.9

        Public Bodies

0.0

0.0

0.1

        Miscellaneous Debts

-

0.0

0.9

    Total Other Creditors

0.0

0.0

1.0

Total Short Term Creditors

3.2

2.8

3.7

Total Liabilities and Equity

8.7

8.9

9.1

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.51.93

UK Pound

1

Rs.80.62

Euro

1

Rs.69.37

 

 

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.