MIRA INFORM REPORT

 

 

Report Date :           

04.09.2011

 

IDENTIFICATION DETAILS

 

Correct Name :

ZAKESTIDIS ST.-MEIDANIS A.-SOFOS E. S.A.

 

 

Registered Office :

2 Anatolikis Romylias Street 57009 Kalochori Thessaloniki

 

 

Country :

Greece

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

11.03.1999

 

 

Com. Reg. No.:

42340

 

 

Legal Form :

Societe Anonyme

 

 

Line of Business :

Wholesales tires and tubes

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

Payment Behaviour :

Unknown

 

 

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)

Greece

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

IDENTIFICATION DETAILS

 

NAME:                                      ZAKESTIDIS ST.-MEIDANiS A.-SOfos e. S.A.

trading style:                     "ELASTIKOEMPORIKI S.A.'

address                                 2 ANATOLIKIS ROMYLIAS STREET 57009 KALOChORI THESSALONIKI

GREECE

TELEFAX:                                 30 2310752633 30 2310752925

E-MAIL ADDRESS:                    hkelast@otenet.gr

 

 

SENIOR COMPANY PERSONNEL

 

STAVROS ZAKESTIDIS

Chairman

Managing Director

 Legal representative

ELIAS SOFOS

Managing Director

 

SARANOULA ZAKESTIDOU

Member

 

ATHANAS MIDANIS

Member

 

eicaierin: meidani

Member

 

 

PRINCIPALS antecedents

NAMe:   STAVROS ZAKESTIDIS

Nationality: Greek:

 

NAMe:   SLIAS SCFCS

Nationality: Greek:

 

NAMe: SARANOULA ZAKSSTIDOD

Nationality: Greek

 

NAMe:  ATHANAS MIDANIS

Nationaiity: Greek

 

NAMe: SSATSRINI MSIDANI

Nationaiity: Greek

 

 

PAYMENTS

 

A check against all available information sources revealed that no late payment incidents against Subject Company exist.

 

 

bankers

 

NATIONAL Bank of GREECE S.A. Kalochori branch, Eikoatis Ogodois Octovriou 21, Kalochori 57009, Greece

 

Subject has also transactions with PiRAEUS BANK, EFG EURo Bank and Probank

 

 

Financials

 

 

Fiscal

 

Fiscal

 

Fiscal

 

Dec 31, 2008

 

Dec 31, 2009

 

31 Dec, 2010

Turnover

2,245,422

 

2,627,961

 

2,925,209

Pre-Tax Profit

-156,455

 

-76,368

 

2,642

Net Worth

128,837

 

-1,799

 

21,243

Fixed assets

31,003

 

22,304

 

16,183

Total Assets

3,068,410

 

2,773,438

 

2,880,919

Current assets

3,032,418

 

2,746,145

 

2,841,702

Current Liabilities

1,049,129

 

783,508

 

9,68,545

Working Capital

1,983,289

 

1,962,637

 

1,873,157

Long Term Debt

1,890,443

 

1,991,728

 

1,891,130

Financial Assets

4,989

 

4,989

 

23,034

Intangibles

0

 

0

 

0

 

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 (%)

2.89

3.50

2.93

Solvency Ratio (%)

2,381.62

-154,165.48

13,561.73

Fixed Assets/Net Worth (%)

24.06

-1,239.80

76.18

Current Liabs/Net Worth (%)

B14.31

-43,552.42

4,559.36

Assets Turnover (%)

73.18

94.75

101.54

Sale3 / Net Working Cap (%)

1.13

1.34

1.56

Assets / Sales (%)

136.65

105.54

98.49

Profit Margin (%)

-6.97

-2.91

0.09

S/holders Return (%)

-121.44

4,245.03

12.44

Return On Assets (%)

-5.10

-2.75

0.09

 

 

Abstract from individual fiscal balance Sheet as at Dec 31, 2010

 

LIABILITIES

Capital                 80,400

Legal Re3erve3          64,471

Profit For Year         -123,628

Net Worth               21,243

Misc Def Liabs          1,891,131

 

current Liabilities

Trade Creidtors         476,793

Misc Creditors          459,817

Taxation                31,935

Total current           968,545

Total Libilities & NW   2,880,919

 

Assets

Misc Fixed Ass          16,183     

Total Fixed ass         16,183

Invesatments            4,989

Misc Fin’Cl Ass         18,045

Total Fin’Cl Ass        23,034

 

current assets

Stock                   647,602

Trade debtors           1,013,182

Cash                    14,373

Total Current           2,841,702

Total Assets            2,880,919

 

 

Profit& Loss Account from Jan 01, 2010 to Dec 31, 2010

 

Net Sale                      2,925,209

Cost of Goods Sold            2,180,398

Gross Profit                  744,811

Selling/Admin Expenses        247,394

Misc Operating Charges        371,091

Misc Operating Income         17,888

Net Operating Income          144,214

Interest Payable              141,671

Total Financial Expenses      141,671

Profit before Taxes           2,642

Profit After Tax              2,642

Net Profit                    2,842

 

 

Legal status

 

Background

 

Business started Mar 11,1999.

 

Legal form

Societe anonyme registered on Mar 11, 1999 in KALoCHoRI for a period ending Mar 11, 2029.

Registration Number: 42340

Government Gazette Number: 1366/03,11,1999

Tax Registration Number: 099356079

 

 

Capital

 

Nominal capital: 80,400 Euro. issued capital: 30,400 Euro. Issued/paid-up capital was last increased on Apr 27, 2011.

 

 

SHAREHOLDERS

 

ZAKESTIDIS STAVROS CONSTANTINOS holds 10.00% of the voting capital.

MIDANIS ATHANAS AGGELOS holds 25.00% of the voting capital.

ZAKESTIDOU SARANOULA STAVROS holds 10.00% of the voting capital.

GEHNIMATAS NIKOLAOS CHRISTOS holds 5.00% of the voting capital.

SOFOS ELIAS ANTONIOS holds 12.50% of the voting capital.

SFAKIANAKIS CONSTANTINOS hold3 5.00% of the voting capital.

MIDANI VASILIKI AGGELOS holds 12.50% of the voting capital.

ZAKESTIDIS CONSTANTINOS STAVROS holds 10.00% of the voting capital.

ZAKESTIDOU HRYSANTHI holds 10.00% of the voting capital.

 

 

ACTIVITIES

 

Wholesales tires and tubes

Wholesales motor vehicle supplies and new parts

Import & trade of tires & Spares parts for motorcars.

Territory:  100% National

 

 

IMPORTs

 

Imports from India, China, South Korea

Normal importing terms are open account

 

 

Exports

 

Subject does not export.

 

 

PREMISES/REAL ESTATE

 

Operates from office, at heading address.

 

REGISTERED OFFICE: 2 Anatolikis Romylias street, 57009 KALOCHORI, THESSALCNIKI.

 

 

General COMMENTS

 

Ms. Konstantinou confirmed general details in this report.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.46.05

UK Pound

1

Rs.75.20

Euro

1

Rs.66.48

 

 

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.