MIRA
INFORM REPORT
|
Report Date : |
11.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
ORCAMA-TEXTEIS E IMOVEIS SA |
|
|
|
|
Registered Office : |
Rua Da Vinha Velha, 739, Lugar Ferreiros, Ronfe, 4805-445-Ronfe, Guimaraes, Braga |
|
|
|
|
Country : |
Portugal |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
06.08.1981 |
|
|
|
|
Com. Reg. No.: |
501207686 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacturer of household textiles and garments, purchase and sale of
immovable property |
|
|
|
|
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 124.699,50 |
|
|
|
|
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 (31.03.2012) |
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 |
ORCAMA-TEXTEIS E
IMOVEIS SA |
|
V.A.T. Number /
NIF |
501207686 |
|
Address |
Rua da Vinha
Velha, 739, Lugar Ferreiros |
|
Locality |
Ronfe |
|
Postal Code |
4805-445-RONFE |
|
Municipality |
GUIMARAES |
|
District |
BRAGA |
|
Telephone |
253545016 |
|
Fax |
252820197 |
|
C.A.E.(Rev 3) |
46180- Agents
specializing in the sale of other products |
Summary
|
Legal Form |
Joint Stock
Company |
|
Constitution |
06-08-1981 |
|
V.A.T. Number /
NIF |
501207686 |
|
Capital |
250.000,00 |
|
Sales in :
31-12-2011 |
1.065.353,64 |
|
Shareholders Funds
in: 31-12-2011 |
4.635.698,86 |
|
Credit Limit |
124.699,50 |
|
Actual Condition
|
In activity |
Financial Highlights
|
31-12-2009 |
31-12-2010 |
31-12-2011 |
|||
|
Net Sales |
1.803.169,14 |
|
2.049.840,17 |
|
1.065.353,64 |
|
Net Income For
the Year |
176.419,11 |
|
289.639,08 |
|
(48.041,91) |
|
Shareholders
Funds |
4.391.682,77 |
|
4.681.321,85 |
|
4.635.698,86 |
|
Stocks |
3.614.813,86 |
|
2.869.751,60 |
|
3.118.024,91 |
|
LIABILITY |
4.658.929,17 |
|
5.086.173,95 |
|
5.013.440,16 |
|
ASSETS |
9.050.611,94 |
|
9.767.495,80 |
|
9.649.139,02 |
|
31-12-2009 |
31-12-2010 |
31-12-2011 |
|||
|
Net Sales |
1.803.169,14 |
|
2.049.840,17 |
|
1.065.353,64 |
|
Net Income For
the Year |
176.419,11 |
|
289.639,08 |
|
(48.041,91) |
|
Shareholders
Funds |
4.391.682,77 |
|
4.681.321,85 |
|
4.635.698,86 |
|
Stocks |
3.614.813,86 |
|
2.869.751,60 |
|
3.118.024,91 |
|
LIABILITY |
4.658.929,17 |
|
5.086.173,95 |
|
5.013.440,16 |
|
ASSETS |
9.050.611,94 |
|
9.767.495,80 |
|
9.649.139,02 |
All the amounts are express in Euros, otherwise you will be advised
Governing Bodies
|
Board of
Director's |
|
|
JOSE FARIA DA
SILVA |
Shareholder and
Unique Administrator |
|
Fiscal Board |
|
|
MANUEL AGONIA
PEREIRA CAMPOS |
Fiscal Board
Substitute |
|
CARLOS ALBERTO
DA SILVA E CUNHA |
Unique Fiscal |
Legal Structure
|
Registered on the Register Record Office
of Guimaraes with the Register Number 501207686 previous number 4949 in 06-08-1981 |
|
Constitution celebrated in 06-08-1981
published on Diário da República of 18-09-1981 |
|
To oblige the company it is necessary 1
signatures |
Changes to Society
|
In 27-05-2005 on Diário da República
number 164 of 26-08-2005 board of director's change |
|
In 29-01-2002 on Diário da República
number 110 of 13-05-2002 board of director's change |
|
In 25-09-2000 on Diário da República
number 256 of 06-11-2000 increase of capital Clique para ver detalhes para 250.000
euros |
|
In 25-09-1997 on Diário da República
number 18 of 22-01-1998 social change |
|
on Diário da República number 292 of
20-12-1995 social change |
Capital
|
The Capital is 250.000,00 , divided in
50000 shares , with a nominal value of 5,00 |
|
with the following shareholders |
|
JOSE FARIA DA SILVA |
110.000,00 |
44% |
Activities
|
Line of Business |
Percentage |
|
Fabrico de têxteis lar e vestuário, compra
e venda de bens imóveis |
100% |
|
Type of Clients |
Private Companies/Public |
||
|
Sales Conditions |
Cash/credit |
||
|
Exports to |
ESPANHA,FRANÇA,ITALIA |
Banks and Financial Institutions
|
MILLENNIUM BCP |
Centro de Empresas de Guimarães |
Incidents
Legal Actions
|
Date |
Process |
Author |
Type |
Amount |
Judicial District |
Court |
Situation |
|
|
3817/11.7TBGMR |
|
Executiva Comum |
8.622,31 |
Guimarães -
Tribunal Judicial |
Contestada |
|
|
|
214830/09.1YIPRT |
|
Especial
Cump.Obrig. Pecuniarias DL 269/98 |
494,46 |
Lousada - Tribunal
Judicial |
||
|
|
718/09.2TBGMR |
|
Executiva Comum |
19.776,01 |
Guimarães |
||
|
|
292170/08.9YIPRT
|
|
Especial
Cump.Obrig. Pecuniarias DL 269/98 |
251,19 |
Guimarães |
1 |
|
|
|
52977/08.1YIPRT |
|
Especial Cump.Obrig.
Pecuniarias DL 269/98 |
2.627,40 |
Guimarães |
2 |
17-10-2011
Banco Espírito SantoInsurance
|
Companhia de
Seguros Fidelidade Mundial |
Head Office and Installations
|
Head office,
warehouse and factory owned Rua da Vinha Velha, 739, Lugar Ferreiros, Ronfe, 4805-445,
RONFE, Tel:252820185, Fax:252820197 |
Financial Demonstration SNC
|
Balance Sheet SNC |
||
|
CoinEURO |
Date31-12-2011 |
|
|
Closing Date |
31-12-2011 |
31-12-2010 |
31-12-2009 |
Variação (%) |
|
||||
|
ASSET |
|
|||
|
||||
|
Non-current
assets |
|
|||
|
Tangible fixed
assets |
2.583.203,98 |
2.672.651,95 |
1.903.659,43 |
(3,35) |
|
Financial
participations - patrimonial equity method |
374.030,34 |
|||
|
Financial
participations - other methods |
425.300,00 |
699.330,34 |
699.030,34 |
(39,18) |
|
Other financial
assets |
2.500,00 |
100.000,00 |
100.000,00 |
(97,50) |
|
Total |
3.385.034,32 |
3.471.982,29 |
2.702.689,77 |
(2,50) |
|
Current assets |
||||
|
Inventories |
3.118.024,91 |
2.869.751,60 |
3.614.813,86 |
8,65 |
|
Costumers |
2.379.532,67 |
2.541.369,24 |
2.345.854,76 |
(6,37) |
|
State and other
public entities |
28.932,72 |
14.731,28 |
158.177,50 |
96,40 |
|
Shareholders/partners
|
97.018,20 |
|||
|
Other accounts
receivable |
592.257,97 |
334.671,11 |
106.715,82 |
76,97 |
|
Deferrals |
7.608,50 |
2.721,82 |
||
|
Cashier and bank
deposits |
145.356,43 |
527.381,78 |
22.620,21 |
(72,44) |
|
Total |
6.264.104,70 |
6.295.513,51 |
6.347.922,17 |
(0,50) |
|
TOTAL ASSET |
9.649.139,02 |
9.767.495,80 |
9.050.611,94 |
(1,21) |
|
SHAREHOLDERS
FUNDS AND LIABILITIES |
||||
|
SHAREHOLDERS
FUNDS |
||||
|
Capital |
250.000,00 |
250.000,00 |
250.000,00 |
|
|
Other
shareholders funds instruments |
3.315.110,58 |
3.315.110,58 |
3.315.110,58 |
|
|
Legal reserves |
56.981,70 |
56.981,70 |
56.981,70 |
|
|
Other reserves |
1.055.511,85 |
765.872,77 |
603.693,66 |
37,82 |
|
Net retained |
6.136,64 |
3.717,72 |
(10.522,28) |
65,06 |
|
Total |
4.683.740,77 |
4.391.682,77 |
4.215.263,66 |
6,65 |
|
Net income for
the period |
(48.041,91) |
289.639,08 |
176.419,11 |
(116,59) |
|
TOTAL OF
SHAREHOLDERS FUNDS |
4.635.698,86 |
4.681.321,85 |
4.391.682,77 |
(0,97) |
|
LIABILITY |
||||
|
Non-current
liiabilities |
||||
|
Financing obtained
|
3.543.010,59 |
1.462.945,34 |
1.606.603,24 |
142,18 |
|
Total |
3.543.010,59 |
1.462.945,34 |
1.606.603,24 |
142,18 |
|
Current
liabilities |
||||
|
Suppliers |
200.842,22 |
455.521,15 |
159.380,18 |
(55,91) |
|
State and other public
entities |
1.688,09 |
7.773,94 |
10.700,78 |
(78,29) |
|
Financing
obtained |
532.739,80 |
2.296.530,84 |
2.195.483,50 |
(76,80) |
|
Other payable
accounts |
735.159,46 |
863.402,68 |
686.761,47 |
(14,85) |
|
Total |
1.470.429,57 |
3.623.228,61 |
3.052.325,93 |
(59,42) |
|
TOTAL
LIABILITIES |
5.013.440,16 |
5.086.173,95 |
4.658.929,17 |
(1,43) |
|
TOTAL
SHAREHOLDERS FUNDS AND LIABILITIES |
9.649.139,02 |
9.767.495,80 |
9.050.611,94 |
(1,21) |
|
INCOME STATEMENT
|
||||
|
INCOME AND
EXPENSES |
||||
|
Sales and
services |
1.065.353,64 |
2.049.840,17 |
1.803.169,14 |
(48,03) |
|
Variation in
production inventories |
(16.187,10) |
(150.723,00) |
(81.150,41) |
(89,26) |
|
Cost of goods
sold and materials consumed |
540.068,82 |
532.543,86 |
628.010,36 |
1,41 |
|
Suppliers and
external services |
405.108,21 |
655.730,54 |
799.032,01 |
(38,22) |
|
Personnel costs |
19.481,52 |
20.067,85 |
37.919,89 |
(2,92) |
|
Impairment of
receivables (losses/revearsals) |
(8.238,95) |
|||
|
Other income and
gains |
78.452,37 |
123.040,62 |
4.169,44 |
(36,24) |
|
Other expenses
and losses |
85.571,57 |
227.643,30 |
14.954,39 |
(62,41) |
|
Result before
depreciation, financing costs and taxes |
85.627,74 |
586.172,24 |
246.271,52 |
(85,39) |
|
Expenses/reversals
of depreciation and amortization |
89.447,97 |
179.481,01 |
59.596,33 |
(50,16) |
|
Operating result
(before financing costs and taxes) |
(3.820,23) |
406.691,23 |
186.675,19 |
(100,94) |
|
Interest and
similar income obtained |
85.229,10 |
126.073,11 |
||
|
interest and
similar expenses incurred |
124.859,09 |
110.553,61 |
133.126,60 |
12,94 |
|
Net before taxes
|
(43.450,22) |
296.137,62 |
179.621,70 |
(114,67) |
|
Income tax of
the period |
4.591,69 |
6.498,54 |
3.202,59 |
(29,34) |
|
Net profit for
the period |
(48.041,91) |
289.639,08 |
176.419,11 |
(116,59) |
RATIOS SNC
|
Closing Date |
31-12-2011 |
31-12-2010 |
31-12-2009 |
|
||||
|
TURNOVER RATIOS |
|
|||
|
Shareholder's
Funds Profitability |
(0,01) |
0,062 |
0,04 |
|
|
Assets
Profitability |
0,042 |
0,021 |
||
|
Sales Net
Profitability |
(0,045) |
0,141 |
0,098 |
|
|
EFFICIENCY
RATIOS |
||||
|
Medium Term
Receivable |
815,25 |
452,523 |
474,851 |
|
|
Asset Rotation |
0,11 |
0,21 |
0,199 |
|
|
PRODUCTIVITY
RATIOS |
||||
|
Productivity |
26,963 |
75,608 |
30,991 |
|
|
SHORT TERM
RATIOS |
||||
|
General
Liquidity |
4,26 |
1,738 |
2,08 |
|
|
Reduced
Liquidity |
2,14 |
0,945 |
0,895 |
|
|
Immediate
Liquidity |
0,099 |
0,146 |
0,007 |
|
|
MEDIUM LONG TERM
RATIOS |
||||
|
Financial
Autonomy |
0,48 |
0,479 |
0,485 |
|
|
Solvability |
0,925 |
0,92 |
0,943 |
|
|
Borrowed Capital
Structure |
0,293 |
0,712 |
0,655 |
|
|
General Debt |
0,879 |
0,803 |
0,866 |
|
|
Medium Long Term
Debt |
0,764 |
0,313 |
0,366 |
|
|
Debt Structure |
0,293 |
0,712 |
0,655 |
|
|
Capital
Structure |
1,308 |
3,2 |
2,734 |
|
|
Operational and
Financial Risk |
||||
|
Operational
Leverage Level |
(137,501) |
3,731 |
6,295 |
|
|
Financial
Leverage Level |
0,088 |
1,373 |
1,039 |
|
|
Combined
Leverage Level |
(12,1) |
5,123 |
6,541 |
|
Financial Elements
|
31-12-2009 |
||
|
Tangible Assets |
1.903.660,00 |
|
|
Investments |
799.030,00 |
|
|
Stocks |
3.614.814,00 |
|
|
Short Term
Receivable |
2.382.477,00 |
|
|
Banks and Cash |
22.621,00 |
|
|
Accruals and
Deferrals |
2.722,00 |
|
|
Total Assets |
8.725.324,00 |
|
|
Shareholder's
Funds |
4.391.683,00 |
|
|
Medium and Long
Term Payable |
3.326.636,00 |
|
|
Short Term Payable
|
1.003.579,00 |
|
|
Accruals and
Deferrals |
3.425,00 |
|
|
Total
Liabilities and Shareholder's Funds |
8.725.323,00 |
|
|
Cost of Goods
and Consumable Materials |
628.010,00 |
|
|
Outside Supplies
and Services |
799.032,00 |
|
|
Personnel Costs |
37.920,00 |
|
|
Sales |
1.803.170,00 |
Comparatives POC
|
31-12-2007 |
31-12-2008 |
31-12-2009 |
|
|
Net Sales |
2.064.113,00 |
1.856.999,00 |
1.803.170,00 |
|
Net Income For
the Year |
(1.311.309,00) |
411.280,00 |
176.419,00 |
|
Current Assets |
8.200.102,00 |
5.716.115,00 |
6.022.634,00 |
|
Short Term
Payables |
4.862.904,00 |
1.071.260,00 |
1.003.579,00 |
|
Cash Flow |
3.337.198,00 |
4.644.855,00 |
5.019.055,00 |
|
Total Assets |
8.863.974,00 |
6.602.626,00 |
8.725.324,00 |
|
Total
Liabilities |
7.105.307,00 |
2.373.122,00 |
4.333.640,00 |
|
Shareholders
Funds |
1.758.667,00 |
4.229.504,00 |
4.391.683,00 |
|
Personnel Costs |
20.951,00 |
44.365,00 |
37.920,00 |
Ratios POC
|
31-12-2007 |
31-12-2008 |
31-12-2009 |
|
|
FINANCIAL
SITUATION |
|||
|
General
Liquidity |
1,69 |
5,34 |
6,00 |
|
Immediate
Liquidity |
0,78 |
1,67 |
2,40 |
|
Financial
Autonomy |
0,20 |
0,64 |
0,50 |
|
Solvency |
0,25 |
1,78 |
1,01 |
|
RENTABILITY |
|||
|
Sales
Rentability |
(63,53) % |
22,15 % |
9,78 % |
|
Sales Rate Increase
|
(10,03) % |
(2,90) % |
|
|
EFFICIÊNCY |
|||
|
Assets Turnover |
0,23 |
0,28 |
0,21 |
Balance Sheet and Income
Statement
|
Balance Sheet |
||
|
CoinEURO |
Date31-12-2009 |
|
|
Gross Assets |
Depreciations /
Provisions |
Net Assets |
|
Tangible Assets |
|
Subtotal |
2.218.821,00 |
315.161,00 |
1.903.660,00 |
|
Financial Investments |
|
Subtotal |
799.030,00 |
799.030,00 |
|
Stocks |
|
Subtotal |
3.614.814,00 |
3.614.814,00 |
|
Short Term Receivable |
|
Subtotal |
2.398.809,00 |
16.332,00 |
2.382.477,00 |
|
Bank Deposits and Cash |
|
Cash |
109,00 |
109,00 |
|
|
Bank Deposites |
22.512,00 |
22.512,00 |
|
|
Subtotal |
22.621,00 |
22.621,00 |
|
Accruals and Deferrals |
|
Deferred Cost |
2.722,00 |
2.722,00 |
|
|
Subtotal |
2.722,00 |
2.722,00 |
|
Total Assets |
9.056.817,00 |
331.493,00 |
8.725.324,00 |
|
Shareholders Funds and Liabilities |
|
Shareholders Funds |
|
Capital |
250.000,00 |
|
|
Treasury Stock: |
||
|
Other Sup. |
3.315.111,00 |
|
|
Reserves : |
||
|
Legal |
3.718,00 |
|
|
Free |
660.675,00 |
|
|
Net Retained |
(14.240,00) |
|
|
Net Income For
the Year |
176.419,00 |
|
|
Total |
4.391.683,00 |
|
Short Term Payable |
|
Supliers Fixed
Asset |
278.628,00 |
|
|
State and Other
Public Bodies |
10.701,00 |
|
|
Other Creditors |
554.870,00 |
|
|
Trade Creditors |
119.219,00 |
|
|
Trade Notes
Payable |
40.161,00 |
|
|
Subtotal |
1.003.579,00 |
|
Medium and Long Term Payable |
|
Adv. For Clients
|
1.606.603,00 |
|
|
Shareholders |
1.720.033,00 |
|
|
Subtotal |
3.326.636,00 |
|
Accruals and Deferrals |
|
Accrued Charges |
3.425,00 |
|
|
Subtotal |
3.425,00 |
|
TOTAL
LIABILITIES |
4.333.640,00 |
|
|
TOTAL
LIABILITIES AND SHAREHOLDERS FUNDS |
8.725.323,00 |
|
Income Statement |
|
Costs and Losses |
|
Cost of
Materials Consumed and Goods Sold: |
||
|
Subtotal |
628.010,00 |
|
|
Outside Supplies
and Services |
799.032,00 |
|
|
Personnel Costs |
||
|
Subtotal |
37.920,00 |
|
|
Depreciation |
59.596,00 |
|
|
Subtotal |
59.596,00 |
|
|
Other Operating
Costs |
9.724,00 |
|
|
Int. and Similar
Costs: |
||
|
Subtotal |
138.238,00 |
|
|
Ext. Costs and
Losses |
120,00 |
|
|
Taxation Over
Income |
3.203,00 |
|
|
Net Income For
the Year |
176.419,00 |
|
Income and Profits |
|
Sales of : |
||
|
Products |
1.015.990,00 |
|
|
Services
Provided |
787.180,00 |
|
|
Subtotal |
1.803.170,00 |
|
|
Variation in
Production |
(81.150,00) |
|
|
Trading
Securities Income |
||
|
Int. and Similar
Costs |
||
|
Other |
129.167,00 |
|
|
Extra Income and
Gains |
1.075,00 |
|
|
Net Income For
the Year |
176.419,00 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.34 |
|
UK Pound |
1 |
Rs.87.09 |
|
Euro |
1 |
Rs.70.13 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.