MIRA INFORM REPORT
|
Report Date : |
11.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
BRITO & MIRANDA SA |
|
|
|
|
Registered Office : |
Rua Parque Industrial Nr. 257 Rio Covo 4755-481-Rio Covo
(Santa Eulalia) Barcelos Braga |
|
|
|
|
Country : |
Portugal |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
21.06.1996 |
|
|
|
|
Reg. No.: |
503683795 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacture of knitted fabrics |
|
|
|
|
No. of Employees : |
Not Available |
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 : |
Euro 124.699,40 |
|
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
|
Portugal |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
portugal - ECONOMIC OVERVIEW
Portugal has become a diversified and increasingly service-based economy since joining the European Community - the EU's predecessor - in 1986. Over the past two decades, successive governments have privatized many state-controlled firms and liberalized key areas of the economy, including the financial and telecommunications sectors. The country qualified for the Economic and Monetary Union (EMU) in 1998 and began circulating the euro on 1 January 2002 along with 11 other EU members. The economy had grown by more than the EU average for much of the 1990s, but fell back in 2001-08, and contracted 2.5% in 2009, before growing 1.3% in 2010. But GDP fell again in 2011, as the government implemented austerity measures, including a 5% public salary cut, a 2% increase in the value-added tax, and an extraordinary tax on yearend bonuses to comply with conditions of an EU-IMF financial rescue package agreed to in May 2011. GDP per capita stands at roughly two-thirds of the EU-27 average. A rigid labor market has been an obstacle to greater productivity and growth. Portugal also has been increasingly overshadowed by lower-cost producers in Central Europe and Asia as a destination for foreign direct investment. Portugal's low competitiveness, low growth prospects, and high levels of public debt have made it vulnerable to bond market turbulence. The government reduced the budget deficit from 10.1% of GDP in 2009 to 4.5% in 2011, an achievement made possible only by the extraordinary revenues obtained from the one-time transfer of bank pension funds to the social security system. Investors, however, continue to express concern about the government's ability to achieve future budget deficit targets and obtain foreign financing to cover its sovereign debt obligations when the EU-IMF financing program expires in 2013. Without the option for stimulus measures, the government is focusing instead on boosting exports and implementing labor market and other structural reforms to try to raise GDP growth and increase Portugal's competitiveness - which, over time, may help mitigate investor concerns.
|
Source : CIA |
Identification
|
Name |
BRITO & MIRANDA SA |
|
V.A.T. Number / NIF |
503683795 |
|
Address |
Rua Parque Industrial Nr. 257 |
|
Locality |
Rio Covo |
|
Postal Code |
4755-481-RIO COVO (SANTA
EULALIA) |
|
Municipality |
BARCELOS |
|
District |
BRAGA |
|
Telephone |
253897076 |
|
Fax |
253897036 |
|
E-Mail |
info@britoemiranda.com |
|
Web Site |
www.britoemiranda.com |
|
C.A.E.(Rev 3) |
13910- Manufacture of knitted
fabrics |
Summary
Financial
Highlights
Business
Concept
Consulted sources say that the
subject has been respecting its payments and commercial commitments, so
credit connections with this company are recommended. |
|
All the amounts are
express in Euros, otherwise you will be advised |
Governing
Bodies
|
Board of Director's |
|
|
JOAO DE BRITO BARATA GARCIA |
Board of Director's President |
|
JORGE MIGUEL GARCIA FILIPE |
Administrator |
|
JOSE MANUEL GOMES MIRANDA |
Board of Director's
Vice-President |
|
Fiscal Board |
|
|
ARMINDO COSTA,SERRA
CRUZ,MARTINS E ASSOCIADOS-SROC |
Unique Fiscal |
|
ANTONIO MANUEL ALVES DE SOUSA
MARTINS |
Fiscal Board Substitute |
Governing
Bodies
|
Board of Director's |
|
|
JOAO DE BRITO BARATA GARCIA |
Board of Director's President |
|
JORGE MIGUEL GARCIA FILIPE |
Administrator |
|
JOSE MANUEL GOMES MIRANDA |
Board of Director's Vice-President |
|
Fiscal Board |
|
|
ARMINDO COSTA,SERRA CRUZ,MARTINS E ASSOCIADOS-SROC |
Unique Fiscal |
|
ANTONIO MANUEL ALVES DE SOUSA MARTINS |
Fiscal Board Substitute |
Legal
Structure
|
Registed on the Register Record
Office of Barcelos with the Register Number 503683795 previous number 2821 in
21-06-1996 |
|
Constitution celebrated in
21-06-1996 published on Diário da República number 188 of 14-08-1996 |
|
To oblige the company it is
necessary 2 signature |
|
Changes to Society |
|
In 03-01-2012 on Portal MJ of
16-01-2012 board of director's change |
|
In 16-05-2008 on Portal MJ of
20-05-2008 social change |
|
In 03-03-2008 on Portal MJ of
18-03-2008 board of director's change |
|
In 29-01-2007 on Portal MJ of 29-01-2007
head office change |
|
In 25-12-1997 on Diário da
República number 44 of 21-02-1998 board of director's change |
Capital
The Capital is 250.000,00 , divided in 50000 shares , with
a nominal value of 5,00
Activities
|
Line of Business |
Percentage |
|
Commercialization of meshes, wire mesh processing,
import and export. |
100% |
|
Type of Clients |
Private Companies |
||
|
Sales Conditions |
Cash/credit |
||
|
Sales Area |
|||
|
Country |
100% |
Banks
and Financial Institutions
|
MILLENNIUM BCP |
Braga-Empersas |
Incidents
|
Legal Actions |
|
Date |
Process |
Author |
Type |
Amount |
Judicial District |
Court |
Situation |
|
|
214/10.5YJPRT |
|
Executiva Comum |
117,00 |
Porto - Juízos de Execuçăo |
02-07-2010
Ministério Público
Head
Office and Installations
|
Installations Rua D. António
Barroso, Carreira(Barcelos), 4775, CARREIRA BCL, Tel:252963736, Fax:252963720 |
|
Head office and installations
Rua Parque Industrial, 257, Rio Covo (Santa Eulalia), 4755-481, RIO COVO
(SANTA EULALIA), Tel:253897076, Fax:253897036 |
|
Had head office Lugar do
padrăo, Carreira, 4755, BARCELOS |
Financial
Demonstration SNC
|
Balance Sheet SNC |
||
|
CoinEURO |
Date31-12-2011 |
|
|
Closing Date |
31-12-2011 |
31-12-2010 |
31-12-2009 |
Variaçăo (%) |
|
ASSET |
|
|||
|
||||
|
Non-current assets |
|
|||
|
Tangible fixed assets |
728.482,03 |
757.375,67 |
846.158,92 |
(3,81) |
|
Intangible assets |
75,68 |
151,34 |
(49,99) |
|
|
Other financial assets |
4.500,00 |
4.500,00 |
4.500,00 |
|
|
Total |
733.057,71 |
762.027,01 |
850.658,92 |
(3,80) |
|
Current assets |
||||
|
Inventories |
502.688,58 |
784.586,35 |
635.405,55 |
(35,93) |
|
Costumers |
2.020.990,49 |
2.101.052,48 |
2.109.974,09 |
(3,81) |
|
State and other public entities |
52.208,03 |
54.382,52 |
40.402,90 |
(4,00) |
|
Other accounts receivable |
21.937,95 |
15.791,04 |
24.367,69 |
38,93 |
|
Deferrals |
5.817,36 |
3.587,90 |
8.207,91 |
62,14 |
|
Cashier and bank deposits |
329.291,52 |
71.112,37 |
174.523,13 |
363,06 |
|
Total |
2.932.933,93 |
3.030.512,66 |
2.992.881,27 |
(3,22) |
|
TOTAL ASSET |
3.665.991,64 |
3.792.539,67 |
3.843.540,19 |
(3,34) |
|
SHAREHOLDERS FUNDS AND LIABILITIES |
||||
|
SHAREHOLDERS FUNDS |
||||
|
Capital |
250.000,00 |
250.000,00 |
250.000,00 |
|
|
Other shareholders funds instruments |
74.891,29 |
74.891,29 |
74.891,29 |
|
|
Legal reserves |
33.449,79 |
29.551,36 |
24.270,19 |
13,19 |
|
Other reserves |
4.555,92 |
4.555,92 |
4.555,92 |
|
|
Net retained |
499.121,45 |
425.051,23 |
346.708,99 |
17,43 |
|
Total |
862.018,45 |
784.049,80 |
700.426,39 |
9,94 |
|
Net income for the period |
95.703,79 |
77.968,65 |
105.623,41 |
22,75 |
|
TOTAL OF SHAREHOLDERS FUNDS |
957.722,24 |
862.018,45 |
806.049,80 |
11,10 |
|
LIABILITY |
||||
|
Non-current liiabilities |
||||
|
Financing obtained |
218.122,19 |
363.481,18 |
311.550,31 |
(39,99) |
|
Total |
218.122,19 |
363.481,18 |
311.550,31 |
(39,99) |
|
Current liabilities |
||||
|
Suppliers |
1.806.109,47 |
1.736.601,24 |
1.488.408,53 |
4,00 |
|
State and other public entities |
31.047,93 |
14.540,47 |
59.032,65 |
113,53 |
|
Financing obtained |
605.309,40 |
759.580,03 |
1.118.902,39 |
(20,31) |
|
Other payable accounts |
47.680,41 |
56.318,30 |
59.596,51 |
(15,34) |
|
Total |
2.490.147,21 |
2.567.040,04 |
2.725.940,08 |
(3,00) |
|
TOTAL LIABILITIES |
2.708.269,40 |
2.930.521,22 |
3.037.490,39 |
(7,58) |
|
TOTAL SHAREHOLDERS FUNDS AND LIABILITIES |
3.665.991,64 |
3.792.539,67 |
3.843.540,19 |
(3,34) |
|
INCOME STATEMENT |
||||
|
INCOME AND EXPENSES |
||||
|
Sales and services |
5.581.025,31 |
5.204.222,16 |
4.712.879,81 |
7,24 |
|
Variation in production inventories |
98.860,89 |
(37.523,34) |
(30.333,63) |
(363,47) |
|
Cost of goods sold and materials consumed |
4.371.524,03 |
3.923.691,60 |
3.288.020,52 |
11,41 |
|
Suppliers and external services |
601.779,69 |
631.178,95 |
757.720,13 |
(4,66) |
|
Personnel costs |
317.626,11 |
289.897,49 |
269.955,27 |
9,56 |
|
Other income and gains |
46.322,70 |
40.854,40 |
53.941,70 |
13,38 |
|
Other expenses and losses |
172.223,53 |
134.321,96 |
155.157,52 |
28,22 |
|
Result before depreciation, financing
costs and taxes |
263.055,54 |
228.463,22 |
265.634,44 |
15,14 |
|
Expenses/reversals of depreciation and amortization
|
112.007,64 |
113.531,57 |
118.459,72 |
(1,34) |
|
Operating result (before financing costs
and taxes) |
151.047,90 |
114.931,65 |
147.174,72 |
31,42 |
|
Interest and similar income obtained |
40,12 |
133,33 |
||
|
interest and similar expenses incurred |
17.237,95 |
12.080,27 |
9.064,67 |
42,70 |
|
Net before taxes |
133.850,07 |
102.851,38 |
138.243,38 |
30,14 |
|
Income tax of the period |
38.146,28 |
24.882,73 |
32.619,97 |
53,30 |
|
Net profit for the period |
95.703,79 |
77.968,65 |
105.623,41 |
22,75 |
|
Results of discontinued operations (net of
taxes) included in the net icome of the period |
1,56 |
2,11 |
||
RATIOS
SNC
|
Closing Date |
31-12-2011 |
31-12-2010 |
31-12-2009 |
|
TURNOVER RATIOS |
|
|||
|
Shareholder's Funds
Profitability |
0,1 |
0,09 |
0,131 |
|
|
Assets Profitability |
0,041 |
0,03 |
0,038 |
|
|
Sales Net Profitability |
0,017 |
0,015 |
0,022 |
|
|
EFFICIENCY RATIOS |
||||
|
Medium Term Receivable |
132,173 |
147,358 |
163,412 |
|
|
Asset Rotation |
1,522 |
1,372 |
1,226 |
|
|
PRODUCTIVITY RATIOS |
||||
|
Productivity |
3,808 |
4,417 |
5,278 |
|
|
SHORT TERM RATIOS |
||||
|
General Liquidity |
1,178 |
1,181 |
1,098 |
|
|
Reduced Liquidity |
0,976 |
0,875 |
0,865 |
|
|
Immediate Liquidity |
0,132 |
0,028 |
0,064 |
|
|
MEDIUM LONG TERM RATIOS |
||||
|
Financial Autonomy |
0,261 |
0,227 |
0,21 |
|
|
Solvability |
0,354 |
0,294 |
0,265 |
|
|
Borrowed Capital Structure |
0,919 |
0,876 |
0,897 |
|
|
General Debt |
0,86 |
1,303 |
1,775 |
|
|
Medium Long Term Debt |
0,228 |
0,422 |
0,387 |
|
|
Debt Structure |
0,919 |
0,876 |
0,897 |
|
|
Capital Structure |
4,391 |
2,372 |
2,587 |
|
|
Operational and Financial
Risk |
||||
|
Operational Leverage Level |
8,007 |
11,142 |
9,681 |
|
|
Financial Leverage Level |
1,128 |
1,117 |
1,065 |
|
|
Combined Leverage Level |
9,032 |
12,446 |
10,31 |
|
Financial
Elements
|
31-12-2009 |
||
|
Tangible Assets |
846.158,00 |
|
|
Investments |
4.500,00 |
|
|
Stocks |
635.406,00 |
|
|
Short Term Receivable |
1.592.512,00 |
|
|
Banks and Cash |
11.149,00 |
|
|
Accruals and Deferrals |
13.427,00 |
|
|
Total Assets |
3.103.152,00 |
|
|
Shareholder's Funds |
806.050,00 |
|
|
Medium and Long Term
Payable |
538.099,00 |
|
|
Short Term Payable |
1.717.435,00 |
|
|
Accruals and Deferrals |
41.568,00 |
|
|
Total Liabilities and
Shareholder's Funds |
3.103.152,00 |
|
|
Cost of Goods and Consumable
Materials |
3.288.021,00 |
|
|
Outside Supplies and
Services |
757.720,00 |
|
|
Personnel Costs |
269.955,00 |
|
|
Sales |
4.712.880,00 |
Comparatives
POC
|
31-12-2007 |
31-12-2008 |
31-12-2009 |
|
|
Net Sales |
4.944.710,00 |
5.011.530,00 |
4.712.880,00 |
|
Net Income For the Year |
71.961,00 |
60.498,00 |
105.623,00 |
|
Current Assets |
1.932.567,00 |
1.690.203,00 |
2.252.494,00 |
|
Short Term Payables |
1.402.861,00 |
1.374.316,00 |
1.717.435,00 |
|
Cash Flow |
529.706,00 |
315.887,00 |
535.059,00 |
|
Total Assets |
2.162.659,00 |
2.446.230,00 |
3.103.152,00 |
|
Total Liabilities |
1.480.828,00 |
1.728.902,00 |
2.297.102,00 |
|
Shareholders Funds |
681.829,00 |
717.326,00 |
806.050,00 |
|
Personnel Costs |
281.328,00 |
260.667,00 |
269.955,00 |
Ratios
POC
|
31-12-2007 |
31-12-2008 |
31-12-2009 |
|
|
FINANCIAL SITUATION |
|||
|
General Liquidity |
1,38 |
1,23 |
1,31 |
|
Immediate Liquidity |
1,06 |
0,91 |
0,94 |
|
Financial Autonomy |
0,32 |
0,29 |
0,26 |
|
Solvency |
0,46 |
0,41 |
0,35 |
|
RENTABILITY |
|||
|
Sales Rentability |
1,46 % |
1,21 % |
2,24 % |
|
Sales Rate Increase |
1,35 % |
(5,96) % |
|
|
EFFICIÊNCY |
|||
|
Assets Turnover |
2,29 |
2,05 |
1,52 |
Balance
Sheet and Income Statement
|
Balance Sheet |
||
|
CoinEURO |
Date31-12-2009 |
|
|
Gross
Assets |
Depreciations
/ Provisions |
Net
Assets |
|
Intangible Assets |
|
Subtotal |
2.925,00 |
2.925,00 |
|
Tangible Assets |
|
Subtotal |
1.857.964,00 |
1.011.806,00 |
846.158,00 |
|
Financial Investments |
|
Subtotal |
4.500,00 |
4.500,00 |
|
Stocks |
|
Subtotal |
635.406,00 |
635.406,00 |
|
Short Term Receivable |
|
Subtotal |
1.592.512,00 |
1.592.512,00 |
|
Bank Deposits and Cash |
|
Cash |
2.182,00 |
2.182,00 |
|
|
Bank Deposites |
8.967,00 |
8.967,00 |
|
|
Subtotal |
11.149,00 |
11.149,00 |
|
Accruals and Deferrals |
|
Accrued Income |
5.219,00 |
5.219,00 |
|
|
Deferred Cost |
8.208,00 |
8.208,00 |
|
|
Subtotal |
13.427,00 |
13.427,00 |
|
Total Assets |
4.117.883,00 |
1.014.731,00 |
3.103.152,00 |
|
Shareholders Funds and Liabilities |
|
Shareholders Funds |
|
Capital |
250.000,00 |
|
|
Treasury Stock: |
||
|
Other Sup. |
74.891,00 |
|
|
Reserves : |
||
|
Free |
28.826,00 |
|
|
Net Retained |
346.709,00 |
|
|
Net Income For the Year |
105.623,00 |
|
|
Total |
806.050,00 |
|
Short Term Payable |
|
Bank Loans |
138.635,00 |
|
|
State and Other Public
Bodies |
25.142,00 |
|
|
Other Creditors |
84.249,00 |
|
|
Trade Creditors |
1.469.408,00 |
|
|
Subtotal |
1.717.435,00 |
|
Medium and Long Term Payable |
|
Bank Loans |
311.550,00 |
|
|
Adv. For Clients |
226.549,00 |
|
|
Subtotal |
538.099,00 |
|
Accruals and Deferrals |
|
Accrued Charges |
41.568,00 |
|
|
Subtotal |
41.568,00 |
|
TOTAL LIABILITIES |
2.297.102,00 |
|
|
TOTAL LIABILITIES AND
SHAREHOLDERS FUNDS |
3.103.152,00 |
Income
Statement
|
|
Costs and Losses |
|
Cost of Materials Consumed
and Goods Sold: |
||
|
Subtotal |
3.288.021,00 |
|
|
Outside Supplies and
Services |
757.720,00 |
|
|
Personnel Costs |
||
|
Subtotal |
269.955,00 |
|
|
Depreciation |
118.460,00 |
|
|
Subtotal |
118.460,00 |
|
|
Other Operating Costs |
17.482,00 |
|
|
Int. and Similar Costs: |
||
|
Subtotal |
46.252,00 |
|
|
Ext. Costs and Losses |
100.488,00 |
|
|
Taxation Over Income |
32.620,00 |
|
|
Net Income For the Year |
105.623,00 |
Income
and Profits
|
|
Sales of : |
||
|
Products |
4.683.929,00 |
|
|
Services Provided |
28.951,00 |
|
|
Subtotal |
4.712.880,00 |
|
|
Variation in Production |
(30.334,00) |
|
|
Trading Securities Income |
||
|
Int. and Similar Costs |
||
|
Other |
9.978,00 |
|
|
Extra Income and Gains |
44.097,00 |
|
|
Net Income For the Year |
105.623,00 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.34 |
|
|
1 |
Rs.87.89 |
|
Euro |
1 |
Rs.70.13 |
INFORMATION DETAILS
|
Report
Prepared by : |
SDA |
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.