MIRA INFORM REPORT

 

 

Report Date :           

04.10.2011

 

IDENTIFICATION DETAILS

 

Name :

CRUSTIMEX

 

 

Registered Office :

232 Avenue Du Prado, Marseille, 13008

 

 

Country :

France

 

 

Financials (as on) :

30.09.2010

 

 

Date of Incorporation :

15.01.1970       

 

 

Com. Reg. No.:

070805668

 

 

Legal Form :

Private Independent Company

 

 

Line of Business :

Subject is engaged in freezing of fish; and other fish processing and preserving.

 

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 – March 31st, 2011

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

France

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 

 

Crustimex

232 Avenue Du Prado

Marseille, 13008

France

Tel:       +33 04 91 22 14 47

Fax:      +33 04 91 76 23 76

 

 

Synthesis     

 

Employees:                   12

Company Type:            Private Independent

Incorporation Date:         15-Jan-1970     

Financials in:                 USD (Millions)

Fiscal Year End:            30-Sep-2010

Reporting Currency:       Euro

Annual Sales:               23.8

Total Assets:                10.5

 

 

Business Description     

 

Crustimex is primarily engaged in freezing of fish; and other fish processing and preserving.

 

Industry

Industry            Food Processing

ANZSIC 2006:    1120 - Seafood Processing

NACE 2002:      1520 - Processing and preserving of fish and fish products

NAICS 2002:     31171 - Seafood Product Preparation and Packaging

UK SIC 2003:    1520 - Processing and preserving of fish and fish products

US SIC 1987:    2091 - Canned and Cured Fish and Seafoods

 

Registered No.(FRA): 070805668

 

1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7402546

2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7324934

 

 

Corporate Overview

 

Location

232 Avenue Du Prado

Marseille, 13008

France

Tel:       +33 04 91 22 14 47

Fax:      +33 04 91 76 23 76

           

Sales EUR(mil):             17.6

Assets EUR(mil):           7.7

Employees:                   12

Fiscal Year End:            30-Sep-2010

Industry:                        Food Processing

Incorporation Date:         15-Jan-1970

Company Type:             Private Independent

Quoted Status:              Not Quoted

Registered No.(FRA):     070805668

 

Contents

·         Industry Codes

·         Business Description

·         Financial Data

·         Key Corporate Relationships

 

Industry Codes

ANZSIC 2006 Codes:

1120     -          Seafood Processing

 

NACE 2002 Codes:

1520     -          Processing and preserving of fish and fish products

 

NAICS 2002 Codes:

31171   -          Seafood Product Preparation and Packaging

 

US SIC 1987:

2091     -          Canned and Cured Fish and Seafoods

 

UK SIC 2003:

1520     -          Processing and preserving of fish and fish products

 

Business Description

Crustimex is primarily engaged in freezing of fish; and other fish processing and preserving.

 

Financial Data

Financials in:

EUR(mil)

 

Revenue:

17.6

Assets:

7.7

Current Assets:

7.5

 

Total Liabilities:

7.7

 

Issued Capital:

0.5

 

Net Worth:

3.4

 

 

 

Date of Financial Data:

30-Sep-2010

 

1 Year Growth

1.2%

NA

 

Key Corporate Relationships

Bank:

Bnp Paribas, Societe Generale, Natixis Banque

 

 

 

 

 

 

 

 

 

 

Annual Profit & Loss

 

 

 

 

30-Sep-2010

30-Sep-2009

30-Sep-2008

Period Length

12 Months

12 Months

12 Months

Filed Currency

EUR

EUR

EUR

Exchange Rate (Period Average)

0.740255

0.73971

0.666382

Consolidated

No

No

No

 

 

 

 

Total income

24.1

26.0

30.3

Net sales

23.8

25.9

30.8

Change in stock

-

0.2

-

Unfinished work in progress

0.0

-

-

Supplementary operating income

0.2

0.2

0.2

Other external charges

1.3

1.5

2.0

Cost of goods sold

21.7

22.0

25.9

Taxes and social security costs

0.1

0.1

0.2

Social charges

0.3

0.3

0.6

Total payroll costs

0.6

0.7

1.0

Cost of stock depreciation and amortisation

0.4

0.2

0.2

Fixed asset depreciation and amortisation

0.0

0.0

0.0

Other operating costs

0.0

0.0

0.0

Total operating costs

23.7

25.0

29.6

Net operating income

0.4

1.0

0.7

Total financial income

0.2

0.1

0.1

Interest payable on loans

0.0

0.0

0.0

Other expenses

0.1

0.1

0.1

Total expenses

0.1

0.1

0.1

Profit before tax

0.5

1.0

0.7

Extraordinary income

0.0

0.0

0.0

Extraordinary expenses

0.1

0.0

0.0

Extraordinary result

-

0.0

-

Total taxation

0.1

0.3

0.2

Net profit

0.2

0.7

0.4

 

 

Annual Balance Sheet

 

Financials in: USD (mil)

 

 

 

30-Sep-2010

30-Sep-2009

30-Sep-2008

Filed Currency

EUR

EUR

EUR

Exchange Rate

0.732493

0.684135

0.711921

Consolidated

No

No

No

 

 

 

 

Issued capital

0.7

0.7

0.7

Share premium account

0.1

0.1

0.1

Total reserves

3.7

3.4

3.0

Profits for the year

0.2

0.7

0.4

Total stockholders equity

4.7

4.9

4.2

Provisions and allowances

0.2

0.0

0.1

Trade creditors

5.2

4.9

5.7

Bank loans and overdrafts

0.0

0.1

0.1

Current bank debts

0.0

0.0

0.1

Other liabilities

0.1

0.0

0.1

Taxation and social security

0.2

0.4

0.4

Total current liabilities

5.6

5.3

6.3

Total debts

5.6

5.4

6.3

Regularisation account

0.1

0.0

0.0

Total liabilities (including net worth)

10.5

10.3

10.5

Other intangibles

-

-

0.0

Other fixed assets

0.1

0.1

0.0

Long-term investments

0.1

0.1

0.1

Other financial assets

0.1

0.0

0.1

Total non-current assets

0.3

0.3

0.2

Net stocks and work in progress

2.8

2.2

2.5

Trade debtors

3.6

3.6

4.3

Other receivables

1.0

0.3

0.2

Prepaid expenses

0.0

0.0

0.0

Cash and liquid assets

2.8

2.7

3.2

Marketable securities

-

1.1

-

Total current assets

10.2

10.0

10.2

Prepaid expenses and deferred costs

-

0.0

0.0

Total assets

10.5

10.3

10.5

 

 

 

Annual Ratios

 

Financials in: USD (mil)

 

 

 

30-Sep-2010

30-Sep-2009

30-Sep-2008

Period Length

12 Months

12 Months

12 Months

Filed Currency

EUR

EUR

EUR

Exchange Rate

0.732493

0.684135

0.711921

Consolidated

No

No

No

 

 

 

 

Current ratio

1.80

1.90

1.60

Quick ratio

1.30

1.50

1.20

Total liabilities to net worth

1.20%

1.10%

1.52%

Net worth to total assets

0.44%

0.48%

0.39%

Collection period

45.20

39.40

45.70

Stock turnover rate

8.50

12.40

11.50

Asset turnover

2.29%

2.72%

2.74%

Profit margin

0.02%

0.04%

0.02%

Return on assets

0.05%

0.10%

0.06%

Shareholders' return

0.10%

0.21%

0.16%

Sales per employee

12,860.27

10,455.46

11,216.80

Profit per employee

252.64

389.03

259.79

Average wage per employee

335.73

274.34

374.88

Net worth

4.7

4.9

4.2

Number of employees

9

12

12

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.42

UK Pound

1

Rs.76.72

Euro

1

Rs.65.85

 

 

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.