MIRA INFORM REPORT
|
Report Date : |
06.09.2011 |
IDENTIFICATION DETAILS
|
Name : |
FERMAT GROUP, A.S. |
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Formerly Known As : |
FORMADE, a.s. |
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Registered Office : |
Žitavského 496 , 156 00 Praha 5, Zbraslav |
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Country : |
Czech Republic |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
28.03.2002 |
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Com. Reg. No.: |
B/7600 |
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Legal Form : |
Public Limited Company |
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Line of Business : |
Wholesale of machine tools |
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 : |
CZK
1 700 000 EUR 63 869 |
|
Status : |
Moderate |
|
Payment
Behaviour : |
Slow but 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) |
|
Czech Republic |
a2 |
a21 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company
name & address
FERMAT Group, a.s.
Žitavského
496
156 00 Praha 5, Zbraslav
Telephone: 00420/ 296 384 380
Telefax: 00420/ 296 384 370
E-mail: info@fermatmachinery.com
Web: www.fermatmachinery.com
Company summary
|
Company development |
Constant
business development |
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|
Order situation |
Retrograde order
situation |
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Terms of payment |
mostly within
agreed terms, recently occasional reminders |
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Business
connection |
Business
connections appear permissible |
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Credit limit |
CZK
1 700 000,- |
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||
|
Legal form |
Public limited company |
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Foundation |
28/03/2002 - Public limited company |
|
Comp. Register |
28/03/2002, Městský soud v
Praze, RegNr.: B/7600 |
|
Share Capital |
28/03/2002 |
CZK |
2 000 000,- |
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|
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700 pc of common bearer shares in
documentary form at nominal value |
||||
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of CZK 2.000,-- |
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300 pc of common nominative shares in documentary
form at nominal |
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value of CZK 2.000,-- |
||||
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Main Shareholder |
Jiří Ferenc (10.09.1968) |
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Board of
Directors |
Ing. Jan Ferenc (02.05.1976) |
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|
Jiří Ferenc (10.09.1968) |
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|
Tomáš Jelínek (19.04.1978) |
|
Supervisory
Board |
Ing. Ján
Družbacký (01.01.1956) |
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|
Ján Gajdoš (18.07.1953) |
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|
Marcela
Ferencová (25.04.1971) |
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General Data |
Wholesale of machine tools and sheet metal
forming machines, |
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technical support and service. |
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Main activity: |
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Former name(s) |
||
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Trade name(s) |
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Export: |
33% |
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Import: |
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Address: |
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Táboritská 1000/23, 130 87 Praha 3 |
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business
locations: |
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Staff |
2007 |
22 employees |
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2009 |
29 employees |
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2011 |
25 employees |
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Annual Sales |
2005 |
actual sales |
CZK |
5 528 000,- |
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|
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2006 |
actual sales |
CZK |
116 712 000,- |
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|
|
2007 |
actual sales |
CZK |
358 518 000,- |
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|
|
2008 |
actual sales |
CZK |
523 895 000,- |
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|
|
2009 |
actual sales |
CZK |
341 851 000,- |
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|
|
Property |
none |
|||||
|
Balance sheets |
The enclosed balance of 2009 from business
register, it is authenticated by the auditor. (31.12.2009 - 1 CZK) |
|
|
The enclosed profit/loss account of 2009
from business register, it is authenticated by the auditor. (31.12.2009 - 1
CZK) |
|
Remarks |
All the sources
of negative data accessible to public (insolvency registers, databases of
debtors of health insurance institutions, commercial bulletin, collection
database are currently monitored. |
|
|
Other entrepreneurial interestr: Jiří
Ferenc |
|
|
- FERMAT CZ s.r.o., IČ 26180367 |
|
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executive, associate 80% |
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- HMB, spol. s r.o., IČ 47547880 |
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executive |
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- FERMAT Machine Tool, s.r.o., IČ
27450911 |
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associate 80% |
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- PRESSL, spol. s r.o., IČ 45349975 |
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executive |
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- FERMAT STROJE LIPNÍK s.r.o., IČ
29245931 |
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executive, associate 100% |
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- FERMAT - J & F STROJE, s.r.o., Slovakia, |
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associate 100 % |
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- FERMAT - OPRAVY, s.r.o., Slovakia |
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executive, associate 85 % |
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Contact: Tomáš Jelínek - financial
director |
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Bankers |
Volksbank CZ, a.s. |
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Balance sheet
|
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|
31.12.2006 (CZK) |
31.12.2007 (CZK) |
31.12.2008 (CZK) |
31.12.2009 (CZK) |
|
r1 |
TOTAL ASSETS |
95 305 000 |
201 018 000 |
277 382 000 |
208 826 000 |
|
r2 |
Receivables for subscriptions |
|
|
0 |
0 |
|
r3 |
Fixed assets |
516 000 |
1 900 000 |
8 182 000 |
6 151 000 |
|
r4 |
Intangible fixed
assets |
|
|
0 |
0 |
|
r13 |
Tangible fixed
assets |
516 000 |
1 900 000 |
8 182 000 |
6 151 000 |
|
r14 |
Lands |
|
|
0 |
0 |
|
r15 |
Constructions |
|
|
0 |
0 |
|
r16 |
Equipment |
293 000 |
1 900 000 |
6 751 000 |
4 746 000 |
|
r20 |
Tangible fixed assets under construction |
223 000 |
0 |
1 431 000 |
1 405 000 |
|
r23 |
Long-term
financial assets |
|
|
0 |
0 |
|
r31 |
Current assets |
94 535 000 |
198 826 000 |
268 777 000 |
202 365 000 |
|
r32 |
Inventory |
56 032 000 |
142 392 000 |
183 200 000 |
140 716 000 |
|
r33 |
Materials |
225 000 |
12 316 000 |
3 870 000 |
2 835 000 |
|
r34 |
Work in progress and semi-products |
|
|
862 000 |
1 211 000 |
|
r37 |
Merchandise |
49 519 000 |
120 986 000 |
171 653 000 |
106 558 000 |
|
r38 |
Advance payments for inventory |
6 288 000 |
9 090 000 |
6 815 000 |
30 112 000 |
|
r39 |
Long-term
receivables |
|
97 000 |
5 651 000 |
5 236 000 |
|
r41 |
Receivables from controlled and managed
organizations |
|
|
2 335 000 |
1 854 000 |
|
r44 |
Long-term deposits given |
|
97 000 |
85 000 |
90 000 |
|
r46 |
Other receivables |
|
|
3 231 000 |
3 292 000 |
|
r48 |
Short-term
receivables |
14 265 000 |
37 033 000 |
69 752 000 |
53 293 000 |
|
r49 |
Trade receivables |
13 763 000 |
27 054 000 |
63 571 000 |
49 619 000 |
|
r50 |
Receivables from controlled and managed
organizations |
|
1 751 000 |
|
|
|
r54 |
Due from state - tax receivable |
|
10 000 |
2 154 000 |
323 000 |
|
r55 |
Short-term deposits given |
66 000 |
1 272 000 |
127 000 |
2 961 000 |
|
r56 |
Estimated receivable |
|
51 000 |
26 000 |
1 000 |
|
r57 |
Other receivables |
436 000 |
6 895 000 |
3 874 000 |
389 000 |
|
r58 |
Short-term
financial assets |
24 238 000 |
19 304 000 |
10 174 000 |
3 120 000 |
|
r59 |
Cash |
2 879 000 |
124 000 |
208 000 |
243 000 |
|
r60 |
Bank accounts |
21 359 000 |
19 180 000 |
9 966 000 |
2 877 000 |
|
r61 |
Short-term securities and ownership
interests |
0 |
|
|
|
|
r62 |
Short-term financial assets acquired |
0 |
|
|
|
|
r63 |
Accruals |
254 000 |
292 000 |
423 000 |
310 000 |
|
r64 |
Deferred expenses |
254 000 |
292 000 |
423 000 |
254 000 |
|
r66 |
Deferred income |
|
|
|
56 000 |
|
r67 |
TOTAL
LIABILITIES |
95 305 000 |
201 018 000 |
277 382 000 |
208 826 000 |
|
r68 |
Equity |
7 409 000 |
26 160 000 |
28 538 000 |
33 952 000 |
|
r69 |
Registered
capital |
2 000 000 |
2 000 000 |
2 000 000 |
2 000 000 |
|
r70 |
Registered capital |
2 000 000 |
2 000 000 |
2 000 000 |
2 000 000 |
|
r73 |
Capital funds |
|
|
0 |
0 |
|
r78 |
Reserve funds,
statutory reserve account for cooperatives, and other retained earnings |
|
|
200 000 |
200 000 |
|
r79 |
Legal reserve fund / indivisible fund |
|
|
200 000 |
200 000 |
|
r81 |
Profit / loss -
previous years |
-829 000 |
5 410 000 |
13 960 000 |
26 339 000 |
|
r82 |
Retained earnings from previous years |
|
6 239 000 |
13 960 000 |
26 339 000 |
|
r83 |
Accumulated losses from previous years |
-829 000 |
-829 000 |
|
|
|
r84 |
Profit / loss -
current year (+/-) |
6 238 000 |
18 750 000 |
12 378 000 |
5 413 000 |
|
r85 |
Other sources |
87 887 000 |
174 848 000 |
248 752 000 |
174 714 000 |
|
r86 |
Reserves |
|
|
0 |
1 353 000 |
|
r89 |
Income tax reserves |
|
|
|
1 353 000 |
|
r91 |
Long-term
payables |
|
4 933 000 |
7 797 000 |
3 709 000 |
|
r92 |
Trade payables |
|
1 578 000 |
|
|
|
r93 |
Payables to controlled and managed
organizations |
|
3 355 000 |
3 499 000 |
3 709 000 |
|
r100 |
Other payables |
|
|
4 298 000 |
|
|
r102 |
Short-term
payables |
52 304 000 |
106 696 000 |
87 265 000 |
59 886 000 |
|
r103 |
Trade payables |
26 293 000 |
56 273 000 |
55 693 000 |
35 428 000 |
|
r105 |
Payables to accounting units with
substantial influence |
0 |
|
|
|
|
r106 |
Payables from partners, cooperative
members and association members |
3 000 000 |
0 |
|
|
|
r107 |
Payroll |
414 000 |
495 000 |
684 000 |
851 000 |
|
r108 |
Payables to social securities and health
insurance |
235 000 |
312 000 |
503 000 |
477 000 |
|
r109 |
Due from state - tax liabilities and
subsidies |
1 549 000 |
11 487 000 |
184 000 |
611 000 |
|
r110 |
Short-term deposits received |
20 123 000 |
37 603 000 |
28 636 000 |
19 816 000 |
|
r112 |
Estimated payables |
566 000 |
410 000 |
1 401 000 |
6 000 |
|
r113 |
Other payables |
124 000 |
116 000 |
164 000 |
2 697 000 |
|
r114 |
Bank loans and
financial accommodations |
35 583 000 |
63 219 000 |
153 690 000 |
109 766 000 |
|
r115 |
Long-term bank loans |
27 583 000 |
|
0 |
0 |
|
r116 |
Short-term bank loans |
8 000 000 |
55 219 000 |
140 560 000 |
101 455 000 |
|
r117 |
Short-term accommodations |
|
8 000 000 |
13 130 000 |
8 311 000 |
|
r118 |
Accruals |
9 000 |
10 000 |
92 000 |
160 000 |
|
r119 |
Accrued expenses |
9 000 |
10 000 |
92 000 |
160 000 |
|
|
profit/loss
account |
31.12.2006 (CZK) |
31.12.2007 (CZK) |
31.12.2008 (CZK) |
31.12.2009 (CZK) |
|
a1 |
Turnover |
116 712 000 |
358 518 000 |
523 895 000 |
341 851 000 |
|
a2 |
Revenues from sold goods |
115 977 000 |
354 258 000 |
516 052 000 |
325 154 000 |
|
a3 |
Expenses on sold goods |
81 992 000 |
216 865 000 |
286 794 000 |
236 343 000 |
|
a4 |
Sale margin |
33 985 000 |
137 393 000 |
229 258 000 |
88 811 000 |
|
a5 |
Production |
735 000 |
4 260 000 |
8 705 000 |
17 319 000 |
|
a6 |
Revenues from own products and services |
735 000 |
4 260 000 |
7 843 000 |
16 697 000 |
|
a7 |
Change in inventory of own products |
|
|
862 000 |
349 000 |
|
a8 |
Capitalization |
|
|
|
273 000 |
|
a9 |
Production
consumption |
21 779 000 |
104 551 000 |
188 336 000 |
72 586 000 |
|
a10 |
Consumption of material and energy |
5 220 000 |
12 698 000 |
14 789 000 |
9 768 000 |
|
a11 |
Services |
16 559 000 |
91 853 000 |
173 547 000 |
62 818 000 |
|
a12 |
Added value |
12 941 000 |
37 102 000 |
49 627 000 |
33 544 000 |
|
a13 |
Personnel
expenses |
6 009 000 |
11 191 000 |
14 672 000 |
16 544 000 |
|
a14 |
Wages and salaries |
4 520 000 |
8 247 000 |
10 565 000 |
12 199 000 |
|
a16 |
Social security expenses and health
insurance |
1 410 000 |
2 781 000 |
3 900 000 |
4 301 000 |
|
a17 |
Other social expenses |
79 000 |
163 000 |
207 000 |
44 000 |
|
a18 |
Taxes and fees |
44 000 |
31 000 |
71 000 |
464 000 |
|
a19 |
Depreciations of intangible and tangible
assets |
150 000 |
790 000 |
2 791 000 |
2 694 000 |
|
a20 |
Revenues from
disposals of fixed assets and materials |
70 000 |
3 171 000 |
11 689 000 |
5 870 000 |
|
a21 |
Revenues from disposals of fixed assets |
70 000 |
28 000 |
529 000 |
3 962 000 |
|
a22 |
Revenues from disposals of materials |
|
3 143 000 |
11 160 000 |
1 908 000 |
|
a23 |
Net book value
of disposed fixed assets and materials |
|
237 000 |
8 082 000 |
4 985 000 |
|
a24 |
Net book value of sold fixed assets |
|
237 000 |
488 000 |
3 623 000 |
|
a25 |
Net book value of sold material |
|
|
7 594 000 |
1 362 000 |
|
a26 |
Change in operating reserves and
adjustments and complex deferred costs ( + / - ) |
|
|
451 000 |
1 292 000 |
|
a27 |
Other operating revenues |
48 000 |
17 000 |
1 762 000 |
1 847 000 |
|
a28 |
Other operating expenses |
96 000 |
223 000 |
1 360 000 |
2 511 000 |
|
a31 |
Operating profit
/ loss |
6 760 000 |
27 818 000 |
35 651 000 |
12 771 000 |
|
a43 |
Interest revenues |
18 000 |
241 000 |
1 194 000 |
366 000 |
|
a44 |
Interest expenses |
788 000 |
3 048 000 |
7 421 000 |
6 827 000 |
|
a45 |
Other financial revenues |
4 735 000 |
8 952 000 |
12 677 000 |
8 601 000 |
|
a46 |
Other financial expenses |
2 712 000 |
9 097 000 |
25 635 000 |
8 008 000 |
|
a49 |
Profit / loss
from financial operations ( transactions ) |
1 253 000 |
-2 952 000 |
-19 185 000 |
-5 868 000 |
|
a50 |
Income tax on
ordinary income |
1 892 000 |
6 165 000 |
3 868 000 |
1 353 000 |
|
a51 |
Due tax |
1 892 000 |
|
3 868 000 |
1 353 000 |
|
a53 |
Operating profit
/ loss ordinary activity |
6 121 000 |
18 701 000 |
12 598 000 |
5 550 000 |
|
a54 |
Extraordinary revenues |
134 000 |
274 000 |
|
|
|
a55 |
Extraordinary expenses |
17 000 |
210 000 |
220 000 |
137 000 |
|
a56 |
Income tax on
extraordinary income |
|
15 000 |
|
|
|
a57 |
Due tax |
|
15 000 |
|
|
|
a59 |
Operating profit
/ loss extraordinary activity |
117 000 |
49 000 |
-220 000 |
-137 000 |
|
a61 |
Profit / loss of
current accounting period (+/-) |
6 238 000 |
18 750 000 |
12 378 000 |
5 413 000 |
|
a62 |
Profit / loss before tax (+/-) |
8 130 000 |
24 930 000 |
16 246 000 |
6 766 000 |
|
|
Operating cash
flow |
|
-35 377 000 |
|
|
|
|
Investment cash
flow |
|
-2 126 000 |
|
|
|
|
Financial cash
flow |
|
32 569 000 |
|
|
|
|
Receivables
after due date total |
11 007 000 |
5 702 000 |
30 591 000 |
23 768 000 |
|
|
Liabilities
after due date total |
1 256 000 |
3 309 000 |
14 415 000 |
10 502 000 |
|
Balance indices |
|
31.12.2006 |
31.12.2007 |
31.12.2008 |
31.12.2009 |
|
Return on total assets ROA (in %) |
a62/r1 * 100 |
8,53 |
12,40 |
5,86 |
3,24 |
|
Return on equity ROE (in %) |
a62/r68 * 100 |
109,73 |
95,30 |
56,93 |
19,93 |
|
Return on sales ROS (in %) |
a62/a1 * 100 |
6,97 |
6,95 |
3,10 |
1,98 |
|
Turnover of receivables (in days) |
r49/a1 * 365 |
43,04 |
27,54 |
44,29 |
52,98 |
|
Turnover of liabilities (in days) |
r103/a1 * 365 |
82,23 |
57,29 |
38,80 |
37,83 |
|
Turnover of inventories (days) |
r32/a1 * 365 |
175,23 |
144,97 |
127,64 |
150,24 |
|
Net working capital (in ths. CZK) |
r31 - r102 - r116 - r117 |
34 231,00 |
28 911,00 |
27 822,00 |
32 713,00 |
|
Ratio of accounts payable to accounts receivable
(in %) |
(r39+r48) / (r91+r102) * 100 |
n/a |
33,26 |
79,32 |
92,03 |
|
Ratio of profit/loss to tangible assets
(in%) |
r3 / a1 * 100 |
0,44 |
0,53 |
1,56 |
1,80 |
|
Current ratio |
r31 / (r102+r116+r117) |
1,57 |
1,17 |
1,12 |
1,19 |
|
Quick ratio |
(r58+r48) / (r102+r116+r117) |
0,64 |
0,33 |
0,33 |
0,33 |
|
Cash ratio |
r58 / (r102+r116+r117) |
0,40 |
0,11 |
0,04 |
0,02 |
|
Debt ratio I (in %) |
(1-r68/r67) * 100 |
92,23 |
86,99 |
89,71 |
83,74 |
|
Debt ratio II (in %) |
r85/r67 * 100 |
92,22 |
86,98 |
89,68 |
83,66 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.94 |
|
UK Pound |
1 |
Rs.74.28 |
|
Euro |
1 |
Rs.64.97 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.