MIRA INFORM REPORT

 

 

Report Date :

12.10.2011

 

IDENTIFICATION DETAILS

 

Name :

HORUS TRADING SRL

 

 

Registered Office :

De Mijloc 146 Bl.10B Ap.3 500069 Brasov Brasov

 

 

Country :

Romania

 

 

Financials (as on) :

2010

 

 

Year of Establishment :

1999

 

 

Com. Reg. No.:

J8/719/1999

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Agents involved in the sale of a variety of goods

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

EUR 10.000,00

Status :

Moderate

Payment Behaviour :

Slow

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)

Romania

B1

B1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

COMPANY REPORTED    

 

 

 

HORUS TRADING SRL

Principal Address:
De Mijloc 146 Bl.10B Ap.3
500069 Brasov
Brasov
Romania
Telephone: +40-722-985633, +40-268-422561
Fax: +40-268-422561
Email: horustrading@clicknet.ro

Branch production:
Feldioarei 26
500483 Brasov
Brasov
Romania

 

ICON number: 55300190
National ID: J8/719/1999
VAT number: 12149058

 

Registration status: 23.08.1999 - registered company
Activity status: 23.08.1999 - active company

 

 

 

 

 

 

CREDIT INFORMATION SUMMARY

 

 

 

Insolvency Information:

According to available information sources the company is not in a insolvency/preliminary/debt regulation proceeding.

 

 

 

Maximum Credit:

EUR 10.000,00

 

 

 

 

 

Payment Practices:

Payments are made irregularly.
According to official sources (Ministry of Finance) the subject company is not registered with any debt to the State Budget at 30.06.2011.

 

 

 

Further Rating Information:

Researched company is categorized as a small company.
Turnover volume of RON 4.172.180 in the year 2010 decreased by 14,69% compared with 2009. In previous period this change was 14,03%.

 

 

 

Debt Collection:

There is no record of any debt collection action against this company exceeding a single case volume of EUR 500.

 

 

COMPANY DETAILS      

 

 

 

Established:

1999

 

 

 

Registration:

No. J8/719/1999
23.08.1999
Brasov, Romania

 

 

 

Legal Form:

Limited Liability Company

 

 

 

Capital:

Nominal capital:

 

RON 200,00

Number of Ordinary shares:

20

 

Value per share of Ordinary shares:

RON 10,00

 

 

Paid-up capital:

 

RON 200,00

 

 

 

 

Shareholders:

Full Name

Function

Address

Equity capital

COTENESCU IOAN

Shareholder

Romania

50,00%
10 Ordinary shares

SIMION LUMINITA

Shareholder

Romania

50,00%
10 Ordinary shares



COTENESCU IOAN is registered both as shareholder and administrator within BRACAMI COM SRL; J8/1193/1998

 

 

 

Management:

Full Name

Function

Address

SIMION LUMINITA
19.07.1999 - Present

Director

Romania

 

 

 

KEY DATA ON OPERATIONS      

 

 

 

Subject of Operation:

NACE
  4619 Agents involved in the sale of a variety of goods

NACE codes given are based on the most recent NACE Revision 2.

The company is active in the Coface sector 'Non specialised trade'.

 

 

 

Company Development:

300: Satisfactory business development

 

 

 

Key Data:

Amounts shown in Romanian Leu (New) (RON)

 

2010

2009

2008

2006

Turnover

4.172.180

4.890.658

4.288.940

1.081.974

Fixed assets

35.613

36.060

53.624

88.752

Equity capital

283.525

224.141

137.451

94.257

Profit after taxation

59.384

86.690

47.912

55.822

Operating result - profit

67.313

 

 

 

 

 

 

 

 

 

Industry average

 

2010

2009

2008

2006

 

2010

2009

2008

2006

Return on assets ( ROA )
Net profit / Total assets

0,03

-

-

-

 

 

 

 

0,09

Return on equity ( ROE )
Net profit / Shareholder equity

0,21

0,39

0,35

0,59

 

 

 

 

0,21


Industry average values are listed for the NACE branch: 46 - Wholesale trade, except of motor vehicles and motorcycles

 

 

 

Workforce:

 

2010

2009

2008

2006

Total workforce

4

4

4

4

 

 

 

FINANCIAL INFORMATION   

 

 

 

Financials:

Amounts shown in Romanian Leu (New) (RON)  

2010

2009

2008

2006






BALANCE SHEET

 

FIXED ASSETS

35.613

36.060

53.624

88.752

 

CURRENT ASSETS

1.817.700

1.186.313

1.152.465

906.770

 

Inventory

67.057

240.667

718.006

94.779

 

Claims (receivable)

1.115.088

789.275

76.026

615.163

 

Liquid assets

635.555

156.371

358.433

196.828

 

SHORT TERM FINANCIAL INVESTMENTS

0

 

 

 

 

PREPAID EXPENSES

19.395

19.395

19.395

 

 

TOTAL ASSETS

1.872.708

 

 

 

 

EQUITY CAPITAL

283.525

224.141

137.451

94.257

 

Share capital

200

 

 

 

 

Subscribed and paid capital

200

200

200

200

 

Reserves

38.235

 

 

 

 

Short-term liabilities

725.567

 

 

 

 

Long-term liabilities

863.616

 

 

 

 

TOTAL DEBTS

1.589.183

1.017.627

1.088.033

920.660

 

Provisions for risks and charges

0

0

0

0

 

Deferred income

0

0

0

 

 

TOTAL EQUITY AND LIABILITIES

1.872.708

 

 

 






PROFIT AND LOSS

 

Turnover

4.172.180

4.890.658

4.288.940

1.081.974

 

TOTAL INCOME

4.175.562

4.906.301

4.297.299

1.098.096

 

TOTAL EXPENSES

4.104.867

4.803.099

4.240.261

1.031.647

 

Operating result - profit

67.313

 

 

 

 

Operating result - loss

0

 

 

 

 

Profit on financial transactions (financial profit)

3.382

 

 

 

 

Loss on financial transactions (financial loss)

0

 

 

 

 

Current result - profit

70.695

 

 

 

 

Current result - loss

0

 

 

 

 

Extraordinary profit

0

 

 

 

 

Extraordinary loss

0

 

 

 

 

Profit before taxation

70.695

103.202

57.038

66.449

 

Loss before taxation

0

0

0

0

 

Profit after taxation

59.384

86.690

47.912

55.822

 

Loss after taxation

0

0

0

0

 

 

 

Approximate Exchange Rates:

2010: 4,2099 RON = 1 EUR
2009: 4,2373 RON = 1 EUR
2008: 3,6827 RON = 1 EUR
2007: 3,332 RON = 1 EUR
2006: 3,5245 RON = 1 EUR
2009: 3,0493 RON = 1 USD
2008: 2,5189 RON = 1 USD
2007: 2,4383 RON = 1 USD
2006: 2,809 RON = 1 USD

 

 

 

Financial Comments:

Effectively from July 1st 2005, the Romanian currency was redenominated so that 10,000 old lei(ROL) will be exchanged for 1 new leu (RON).
The financial statements of the companies will be published in new currency RON starting with 31.12.2005.
All financials for previous years displayed in the report were converted from ROL to RON.

 

 

 

Ratios:

 

 

 

 

 

Industry average

 

2010

2009

2008

2006

 

2010

2009

2008

2006

Debt Ratio
(Short-term liabilities + Long-term liabilities) / Total Assets

0,85

-

-

-

 

 

 

 

0,82

Quick ratio
(Current assets - Inventory)/Current liabilities

2,41

-

-

-

 

 

 

 

0,49

Current ratio ( CR )
Current assets / Current liabilities

2,51

-

-

-

 

 

 

 

0,79

Leverage
Long Term Liabilities / Total Equity

3,05

-

-

-

 

 

 

 

0,09

Return on sales ( ROS )
Net profit / Turnover

0,01

0,02

0,01

0,05

 

 

 

 

0,07

Return on assets ( ROA )
Net profit / Total assets

0,03

-

-

-

 

 

 

 

0,09

Return on equity ( ROE )
Net profit / Shareholder equity

0,21

0,39

0,35

0,59

 

 

 

 

0,21

Operating margin, in %
Operating result / Sales

1,61

-

-

-

 

 

 

 

 

Days supply in inventory
(Inventory / Turnover) * No. of days in period

5,87

17,96

61,10

31,97

 

 

 

 

47,10

Days sales in receivables
(Receivables / Turnover) * No. of days in period

97,55

58,91

6,47

207,52

 

 

 

 

56,95

Days purchase in payables
(Current Liabilities / Turnover) * No. of days in period

63,48

-

-

-

 

 

 

 

103,30

Sales to Total Assets
Sales / Total assets

2,23

-

-

-

 

 

 

 

3,10

Operating result / Total assets
Operating result / Total assets

0,04

-

-

-

 

 

 

 

 

Cash ratio
Cash / Current liabilities

0,88

-

-

-

 

 

 

 

 

Equity as % of total assets
(Equity capital / Total Assets) * 100

15,14

-

-

-

 

 

 

 

 

Fixed assets as % of total assets
(Fixed assests / Total assets) * 100

1,90

-

-

-

 

 

 

 

 

Receivables as % of current assets
(Receivables / Current assets) * 100

61,35

66,53

6,60

67,84

 

 

 

 

 

Net working capital
Current assets - Short-term liabilities

RON 1.092.133,00

-

-

-

 

 

 

 

 


Industry average values are listed for the NACE branch: 46 - Wholesale trade, except of motor vehicles and motorcycles

 


ADDITIONAL INFORMATION      

 

 

 

Contact With Company:

The company has been contacted in order to provide additional information but it didn’t agree to disclose any data about its general and financial standing.

 

 

 

 

 

 

 

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.03

UK Pound

1

Rs.76.60

Euro

1

Rs.66.80

 

 

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.