MIRA INFORM REPORT

 

 

Report Date :

25.08.2012

 

IDENTIFICATION DETAILS

 

Name :

HETEROCHEM (DIST.) LIMITED

 

 

Registered Office :

Unit 49, Baldoyle Industrial Estate, Baldoyle, Dublin , 13

 

 

Country :

Ireland

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

16.06.1982

 

 

Com. Reg. No.:

E0089972

 

 

Legal Form :

Private Subsidiary

 

 

Line of Business :

Subject imports and distributes specialised chemical products

 

 

No. of Employees :

14 employees

 

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 :

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, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

Ireland

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 

 

Heterochem (Dist.) Limited

Unit 49

Baldoyle Industrial Estate

Baldoyle

Dublin , 13

Ireland

Fax:      +353-1-8325746

Web:    www.heterochem.com

           

 

synthesis

 

Employees:                  14

Company Type              Private Subsidiary

Corporate Family:          2 Companies

Ultimate Parent:             Hughes Chemical Corporation Limited

Incorporation Date:         16-Jun-1982

Auditor:                        Hughes Blake   

Financials in:                 USD (Millions)

Fiscal Year End:            31-Dec-2011

Reporting Currency:       Euro

Annual Sales:               NA

Total Assets:                5.9

 

 

Business Description     

 

Established in 1982, Heterochem (Dist.) Limited imports and distributes specialised chemical products. It serves the pharmaceutical, construction, manufacturing and foodservice industries. The company’s range of products includes beverages, detergents, cosmetics, coatings, adhesives, and rubber and plastic chemicals. Its building chemicals include thickeners, resins, biocides and dispersing agents. In addition, the company’s plastic and rubber chemicals include lubricants, esters, pigments, additives, metallic soaps, paraffin waxes and fatty alcohols. It also supplies a range of water treatment chemicals, including flocculants, inhibitors and oxygen scavengers. The company additionally supplies food antioxidants, emulsifiers, flavours, sweeteners, preservatives and colourants.

 

Industry             

Industry            Chemical Manufacturing

ANZSIC 2006:    3323 - Industrial and Agricultural Chemical Product Wholesaling

NACE 2002:      5155 - Wholesale of chemical products

NAICS 2002:     4246 - Chemical and Allied Products Merchant Wholesalers

UK SIC 2003:    5155 - Wholesale of chemical products

US SIC 1987:    516 - Chemicals and Allied Products

 

           

Key Executives   

 

Name

Title

Raymond Hughes

Secretary, Director

Kim Doran

Director

Marissa Hughes

Director

 

Registered No.(IRE): E0089972

 

1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7191895

2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.770327

 

 

Corporate Overview

 

Location

Unit 49

Baldoyle Industrial Estate

Baldoyle

Dublin , 13

Ireland

Fax:      +353-1-8325746

Web:    www.heterochem.com

           

Sales EUR(mil):             NA

Assets EUR(mil):           4.5

Employees:                   14

Fiscal Year End:            31-Dec-2011

Industry:                        Chemical Manufacturing

Incorporation Date:         16-Jun-1982

Company Type:             Private Subsidiary

Quoted Status:              Not Quoted

Registered No.(IRE):      E0089972

Secretary, Director:        Raymond Hughes

 

Contents

Industry Codes

Business Description

Financial Data

Key Corporate Relationships

 

Industry Codes

ANZSIC 2006 Codes:

3323     -          Industrial and Agricultural Chemical Product Wholesaling

 

NACE 2002 Codes:

5155     -          Wholesale of chemical products

 

NAICS 2002 Codes:

4246     -          Chemical and Allied Products Merchant Wholesalers

 

US SIC 1987:

516       -          Chemicals and Allied Products

 

UK SIC 2003:

5155     -          Wholesale of chemical products

 

Business Description

Established in 1982, Heterochem (Dist.) Limited imports and distributes specialised chemical products. It serves the pharmaceutical, construction, manufacturing and foodservice industries. The company’s range of products includes beverages, detergents, cosmetics, coatings, adhesives, and rubber and plastic chemicals. Its building chemicals include thickeners, resins, biocides and dispersing agents. In addition, the company’s plastic and rubber chemicals include lubricants, esters, pigments, additives, metallic soaps, paraffin waxes and fatty alcohols. It also supplies a range of water treatment chemicals, including flocculants, inhibitors and oxygen scavengers. The company additionally supplies food antioxidants, emulsifiers, flavours, sweeteners, preservatives and colourants.

 

Financial Data

Financials in:

EUR(mil)

 

Assets:

4.5

Total Liabilities:

1.7

 

Working Capital:

2.8

 

Net Worth:

2.8

 

 

 

Date of Financial Data:

31-Dec-2011

 

1 Year Growth

NA

Key Corporate Relationships

Auditor:

Hughes Blake

 

Auditor:

Hughes Blake

 

 

 

 

 

 

 

 

 

 

Corporate Family

Corporate Structure News:

 

Hughes Chemical Corporation Limited
Heterochem (Dist.) Limited

Heterochem (Dist.) Limited 
Total Corporate Family Members: 2 

 

 

Company Name

Company Type

Location

Country

Industry

Sales
(USD mil)

Employees

 

Hughes Chemical Corporation Limited

Parent

Dublin

Ireland

Retail (Drugs)

 

 

 

Heterochem (Dist.) Limited

Subsidiary

Dublin

Ireland

Chemical Manufacturing

 

 

 

 

Executive report  

 

Board of Directors

 

Name

Title

Function

 

Kim Doran

 

Director

Director/Board Member

 

Raymond Hughes

 

Secretary, Director

Director/Board Member

 

Marissa Hughes

 

Director

Director/Board Member

 

 

Executives

 

Name

Title

Function

 

Raymond Hughes

 

Secretary, Director

Company Secretary

 

 

 

Annual Profit & Loss

 

 

 

31-Dec-2008

Period Length

52 Weeks

Filed Currency

EUR

Exchange Rate (Period Average)

0.683679

Consolidated

No

 

 

Turnover

5.3

Cost of Sales

3.9

Gross Profit

1.3

Operating Profit

0.4

Interest Expenses

0.0

Pretax Profit

0.4

Taxation

0.0

Profit after Tax

0.3

Retained Profits

0.3

Value Added

1.1

Wages And Salaries

0.7

Directors’ Emoluments

0.2

Auditors Fees

0.0

Depreciation

0.0

Number of Employees

14

 

Annual Balance Sheet

Financials in: USD (mil)

 

 

 

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

Filed Currency

EUR

EUR

EUR

EUR

Exchange Rate

0.770327

0.745406

0.696986

0.719399

Consolidated

No

No

No

No

 

 

 

 

 

Tangible Assets

0.0

0.1

0.1

0.1

Total Fixed Assets

0.0

0.1

0.1

0.1

Stocks

0.5

0.4

0.3

0.3

Trade Debtors

-

-

-

1.0

Cash

0.0

0.1

0.0

0.1

Miscellaneous Current Assets

5.3

5.0

5.3

4.5

Other Current Assets

5.3

5.1

5.4

4.6

Total Current Assets

5.8

5.5

5.6

6.0

Total Assets

5.9

5.6

5.7

6.1

Net assets

3.7

3.4

3.5

3.2

Total Current Liabilities

2.2

2.1

2.2

2.9

Total Debt

-

-

-

2.1

Total Long Term Liabilities

0.0

0.0

0.0

0.0

Total Liabilities

2.2

2.1

2.2

3.0

Share Capital And Other Reserves

0.0

0.0

0.0

0.0

Profit & Loss Account Reserve

3.6

3.4

3.4

3.1

Shareholders Funds

3.7

3.4

3.5

3.1

Capital Employed

3.7

3.4

3.5

3.2

Net Worth

3.7

3.4

3.5

3.1

Working Capital

3.6

3.4

3.4

3.1

Contingent Liability

-

-

-

1.2

Fixed Assets

-

-

-

0.1

Liquid Assets

5.3

5.1

5.4

5.7

Trade Creditors

-

-

-

0.8

Bank Overdraft

-

-

-

0.2

Miscellaneous Current Liabilities

2.2

2.1

2.2

2.0

    Other Short Term Finance

-

-

-

1.9

Other Current Liabilities

-

-

-

0.1

Short Term Loans

-

-

-

2.0

    Long Term Loans

-

-

-

0.0

Other Long Term Finance

-

-

-

0.0

Called Up Share Capital

-

-

-

0.0

 

 

Annual Cash Flows

Financials in: USD (mil)

 

 

 

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

Period Length

52 Weeks

52 Weeks

52 Weeks

52 Weeks

Filed Currency

EUR

EUR

EUR

EUR

Exchange Rate (Period Average)

0.71919

0.755078

0.719047

0.683679

Consolidated

No

No

No

No

 

 

 

 

 

Net Cashflow From Operating Activities

-

-

-

-0.3

Net Cashflow From ROI & Servicing Of Finance

-

-

-

0.0

Net Cashflow Before Financing

-

-

-

-0.4

Increase In Cash

-

-

-

-0.4

Net Cash

0.1

0.1

0.0

-0.1

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.38

UK Pound

1

Rs.87.80

Euro

1

Rs.69.48

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

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.