MIRA INFORM REPORT

 

 

Report Date :

02.09.2011

 

IDENTIFICATION DETAILS

 

Name :

QUIRZETEX SEVA SL

 

 

Registered Office :

Calle Cami De Tona (Pg L’avellanet), 12 08553 Seva Barcelona 

 

 

Country :

Spain

 

 

Financials (as on) :

31.12.2009

 

 

Date of Incorporation :

22.09.2009

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Manufacturer of other outerwear

 

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

 

Maximum Credit Limit :

€ 6,000,000

 

 

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 – March 31st, 2010

 

Country Name

Previous Rating

(31.12.2010)

Current Rating

(31.03.2011)

Spain

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 Identification

Current Business Name: QUIRZETEX SEVA SL

Other names: NO

Current Address:  CALLE CAMI DE TONA (PG L’AVELLANET), 12

08553 SEVA BARCELONA 

Telephone number: 930005922 Fax: 938125324

Corporate e-mail:  albert@quirzetex.com

 

Trade Risk

 

Credit Appraisal: 22.000,00 €

Incidents:  NO

Bank and business defaults of payment - ASNEF EMPRESAS:  NO

 

Financial Information

Balance sheet latest sales (2009): 389.308,76 € (Trade Register)

Result: 1.164,74 €

Total Assets: 934.391,1 €

Social Capital:  357.000,00 €

Employees:  5

Listed on a Stock Exchange: NO

 

 

Commercial Information

 

Incorporation date:  22/09/2009

Activity:  Mfg. of other outerwear

NACE 2009 CODE: 1399

International Operations: No business relationships registered

 

 

 

Corporate Structure

 

Sole Administrator: 

 RIERA PANIEGO, JORDI

 

Other Complementary Information

 

Latest act published in BORME:  19/08/2011 Annual Filed Accounts

Bank Entities:  There are

 

 

Credit Appraisal

 

Maximum Credit

(from 0 to 6,000,000 €)

Favourable to 22.000,00 €

 

Financial Situation

Exercise:2009

Treasury

Excellent

Indebtedness

Average

Profitability

Null

Balance

Very good

 

Performance

Incidents

None or Negligible

Business Trajectory

Superior

 

Summary

LEGAL ACTIONS: No legal actions registered

ADMINISTRATIVE CLAIMS: No administrative claims registered

AFFECTED BY: No significant element.

 

Summary

COMPANY NOT REGISTERED IN ASNEF EMPRESAS

•          There are no information on the nif/cif provided in the Asnef Empresas file

  

Balance-sheet analysis

Figures given in €

 

31/12/2009

(3)

 

%

ASSETS

 

ASSETS

 

 

A) NON CURRENT ASSETS

550.350,63

58,90

B) CURRENT ASSETS

384.040,47

41,10

LIABILITIES

 

 

A) NET WORTH

272.964,74

29,21

B) NON CURRENT LIABILITIES

416.471,94

44,57

C) CURRENT LIABILITIES

244.954,42

26,22

 

Profit and Loss Account Analysis

Figures given in €

 

31/12/2009

(3)

 

% NET TURNOVER

SALES

389.308,76

 

GROSS MARGIN

314.861,99

80,88

EBITDA

32.223,93

8,28

EBIT

3.174,56

0,82

NET RESULT

1.164,74

0,30

EFFECTIVE TAX RATE (%)

20,00

0,01

 

 

Values table

Figures expressed in %

 

COMPANY

(2009)

 

SECTOR

DIFFERENCE

BALANCE SHEET ANALYSIS: % on the total assets

 

 

 

ASSETS

A) NON CURRENT ASSETS

58,90

34,12

24,78

A) CURRENT ASSETS

41,10

65,88

-24,78

LIABILITIES

A) NET WORTH

29,21

37,19

-7,98

B) NON CURRENT LIABILITIES

44,57

15,83

28,74

C) CURRENT LIABILITIES

26,22

46,98

-20,76

 

 

 

 

 

COMPANY

(2009)

 

SECTOR

DIFFERENCE

PROFIT AND LOSS ACCOUNT ANALYSIS: % on the total operating income

 

 

 

SALES

99,86

98,22

1,64

GROSS MARGIN

80,76

50,75

30,01

EBITDA

8,27

7,16

1,10

EBIT

0,81

3,96

-3,15

NET RESULT

0,30

1,61

-1,32

 

Sector Composition

Compared sector (NACE 2009): 1399

Number of companies: 242

Size (Sales Figure): 0 - 2,800,000.00 Euros

 

Comments on the sectorial comparative

Compared to its sector the assets of the companies show  a greater proportion of non current assets. Specifically the difference with the sector average is 24,78% .

In liabilities composition the company appeals on a smaller scale to self financing, being the Net Worth proportion 7,98% inferior. As a consequence, external financing sources are more used by the company ( 7,98% more than the sector) .

The proportion that the sales mean to the company’s total ordinary income is 99,86% , an 1,64% higher than in the sector .

The company’s EBIT was positive and was 0,81% with regard to the total ordinary income, 3,15% inferior to the one of the sector .

The company’s capacity to generate operating income is inferior to that of the sector as its ratio EBIT/Sales is inferior (0,01 in comparison with 0,04) .

The company’s net result was positive and equal to 0,30% with regard to the total ordinary income, -1,32% inferior to the one of the sector .

The financial results and the tax impact have had a less negative impact on the net result of the company that in the sector .

  

Business address

 

Current Legal Seat Address: 

CALLE CAMI DE TONA (PG L’AVELLANET), 12

08553 SEVA  BARCELONA

 

Summary

Governing body : 1 member (latest change: 16/02/2010)

Non-current positions : 1 (latest change: 16/02/2010)

 

Main Board members, Directors and Auditor

 

Governing body

POSITION

NAME AND SURNAME

DATE 

APPOINTMENT

SOLE ADMINISTRATOR

RIERA PANIEGO, JORDI

16/02/2010

 

 

 

  

Constitution

Incorporation date: 22/09/2009

 

 

Origin / Foundation

Origin: que anteriormente realizaba QUIRCETEX SA A58036054.

 

Activity

Code: 1455000

Activity: Mfg. of other outerwear

NACE 2009 CODE: 1399

NACE 2009 Activity: Manufacture of other textiles n.e.c.

Business: LA FABRICACION DE TEJIDOS DE TODAS CLASES, CONFECCION Y COMPRAVENTA AL MAYOR Y DETALL DE TODO TIPO DE ARTICULOS TEXTILES. ACABADO DE TEJIDOS, FABRICACION DE PRODUCTOS TEXTILES DE USO TECNICO E INDUSTRIAL.

 

Employees

Latest employees figure: 5 (2009)

% of fixed employees: 100,00%

 

Banks

 

ENTITY

BRANCH

ADDRESS

TOWN OR CITY

PROVINCE

BANCO SANTANDER, S.A.

 

 

VIC

 

 

Constitution Data

Register Date: 22/09/2009

Register town: Barcelona

Announcement number: 448406

Register data: 

Volume 41467, Folio 44, Section 8, Sheet 385938,

Inscription I/A 1 (2009-10-14)

Social Capital: 6.000 €

 

Current structure data

Legal form: Limited Liability Company

Social Capital: 357.000,00 €

  

 

Legal Aspects

Obligation to fill in Financial Statements: YES

Chamber census: YES (2009)

 

Summary

  Acts on activity: 0

  Acts on administrators: 3 (Last: 16/02/2010, first: 27/10/2009)

  Acts on capital: 2 (Last: 21/04/2010, first: 16/02/2010)

  Acts on creation: 1 (Last: 27/10/2009)

  Acts on filed accounts: 2 (Last: 19/08/2011, first: 18/02/2011)

  Acts on identification: 0

  Acts on Information: 1 (Last: 16/02/2010)

 

Latest acts in B.O.R.M.E.

 

Other acts

ACT

DATE

NOTICE NUM.

TRADE REGISTER

Capital enlargement

21/04/2010

157655

Barcelona

Modification of the Articles of Association

16/02/2010

65370

Barcelona

Capital enlargement

16/02/2010

65370

Barcelona

Appointments

16/02/2010

65370

Barcelona

Resignations

16/02/2010

65370

Barcelona

Appointments

27/10/2009

448406

Barcelona

Constitution

27/10/2009

448406

Barcelona

Latest filed accounts

ACT

DATE

NOTICE NUM.

TRADE REGISTER

Annual Filed Accounts (2010)

19/08/2011

320919

Barcelona

Annual Filed Accounts (2009)

18/02/2011

81700

Barcelona

 

Complementary Information

 

Financial Information

El balance cerrado a 31/12/2009 (Deposito 2009) esta disponible  pero existen datos en los nuevos estados contables incorrectamente presentados.

 

Activity

La titular continua la actividad comercial de venta de tejidos de la sociedad QUIRCETEX SA A58036054.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.46.01

UK Pound

1

Rs.75.42

Euro

1

Rs.66.69

 

 

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.