MIRA INFORM REPORT
|
Report Date : |
13.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
DAY & NIGHT OOD |
|
|
|
|
Registered Office : |
Ul. Lyulyak No.7
5100 Gorna Oryahovitsa |
|
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Country : |
Bulgaria |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
1998 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Manufacture of waffers, biscuits and other chocolate
products. |
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No. of Employees : |
198 |
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 |
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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) |
|
Bulgaria |
B1 |
B1 |
|
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 |
BULGARIA - ECONOMIC OVERVIEW
Bulgaria, a former Communist country that entered the EU on
1 January 2007, averaged more than 6% annual growth from 2004 to 2008, driven by
significant amounts of bank lending, consumption, and foreign direct
investment. Successive governments have demonstrated a commitment to economic
reforms and responsible fiscal planning, but the global downturn sharply
reduced domestic demand, exports, capital inflows, and industrial production.
GDP contracted by 5.5% in 2009, stagnated in 2010, despite a significant
recovery in exports, and grew approximately 2.2% in 2011. Despite having a
favorable investment regime, including low, flat corporate income taxes,
significant challenges remain. Corruption in public administration, a weak
judiciary, and the presence of organized crime continue to hamper the country's
investment climate and economic prospects.
Source
: CIA
COMPANY DETAILS
Local name: DEN I NOSHT OOD
International name: DAY & NIGHT OOD
Registered address:
ul. Lyulyak No.7
5100 Gorna Oryahovitsa
Bulgaria
Telephone: +359-618-64004
Fax: +359-618-60433
E-Mail: office@dayandnightwafers.com
Internet: http://www.dayandnightwafers.com/
Head office:
ul. Ivan Momchilov No.5
5100 Gorna Oryahovitsa
Bulgaria
ESTABLISHMENT & REGISTRATION:
Established: 1998
Registered at Veliko Tarnovo district court
Court number 1638/1998
Bulstat/VAT number: 104101971
LEGAL FORM:
Limited Liability Company (OOD)
REGISTERED CAPITAL:
BGN 5 000.00
SHAREHOLDERS/MANAGEMENT
SHAREHOLDERS:
|
STEFKA DIMITROVA ANASTASOVA |
53% |
|
ID 6112021410 |
|
|
DANAIL KOSTADINOV YOLOV |
47% |
|
ID 7101241565 |
|
MANAGEMENT:
|
STEFKA DIMITROVA ANASTASOVA |
- Manager |
RELATED COMPANIES:
|
Company ID |
Company Name |
|
160059043 |
KITEN TM |
|
160033625 |
DANI I NIKOL |
|
104689985 |
SITI INVEST 1 |
|
104677520 |
DATA MARKET |
|
104662408 |
SITI INVEST |
|
104599331 |
EVITA |
|
104519762 |
STEDI TN |
|
104041045 |
NINA-START - DANAIL YOLOV |
BUSINESS ACTIVITY
BUSINESS OPERATION:
NACE 1.1: 15.81 Manufacture of bread; manufacture of fresh
pastry goods and cakes
Activity:
Manufacture of waffers, biscuits and other chocolate
products.
NUMBER OF EMPLOYEES:
|
As at date |
Value |
|
31.12.2006 |
419 |
|
31.12.2007 |
324 |
|
31.12.2008 |
276 |
|
31.12.2009 |
328 |
|
10.08.2010 |
276 |
|
31.12.2010 |
379 |
|
31.12.2011 |
246 |
|
Latest stand |
198 |
EXPORT:
EU
IMPORT:
Austria, Turkey
REAL ESTATE:
Own premises.
FINANCIAL DATA
TURNOVER:
|
Year |
Currency |
Value |
|
2002 |
BGN |
5 627 000.00 |
|
2003 |
BGN |
12 439 000.00 |
|
2004 |
BGN |
20 966 000.00 |
|
2005 |
BGN |
22 688 000.00 |
|
2006 |
BGN |
29 145 000.00 |
|
2007 |
BGN |
23 745 000.00 |
|
2008 |
BGN |
32 237 000.00 |
|
2009 |
BGN |
31 804 000.00 |
|
2010 |
BGN |
33 944 000.00 |
|
2011 |
BGN |
31 294 000.00 |
MODES OF PAYMENT:
Payments are made within agreed terms.
DEBT COLLECTION:
No debt collection cases are registered against the
company.
BANK DISTRAINTS:
No shares of the company are under bank distraint.
UNPAID TAXES/ CONTRIBUTIONS TO GOVERNMENT:
There is no publication about overdue unpaid taxes.
INVOLVEMENT IN LEGAL DISPUTES:
There is no publication about legal claims or disputes
against the company.
OTHER PAYMENT INFORMATION:
No adverse payment information is available.
BRANCH INDICATOR:
The company's payment behaviour is average for the
branch.
FINANCIAL OPINION:
Despite weak liquidity, overall size of debt is not big,
compared to volume of sales. Credit dealings are feasible.
Exchange since for 1998 BGN (denominated lev) = 0.51
EUR
|
Ratio |
2008 |
2009 |
2010 |
2011 |
|
Debt ratio |
0.73 |
0.85 |
0.85 |
0.82 |
|
Quick ratio |
0.32 |
0.19 |
0.37 |
0.46 |
|
Current ratio |
1.24 |
0.52 |
0.69 |
0.74 |
|
Days purchase in payables |
55.53 |
156.90 |
164.72 |
133.49 |
|
Operating margin in % |
14.20 |
9.16 |
8.35 |
2.26 |
|
Cash ratio (acid ratio) |
0.07 |
0.03 |
0.02 |
0.05 |
|
Return on sales ROS in % |
12.73 |
8.01 |
7.51 |
2.02 |
|
Return on assets ROA in % |
23.98 |
14.26 |
13.03 |
4.02 |
|
Return on equity ROE in % |
88.89 |
94.72 |
84.44 |
22.49 |
|
Days supply in inventory |
50.43 |
50.10 |
52.15 |
37.56 |
|
Days sales in receivables |
13.88 |
25.80 |
57.44 |
54.34 |
|
BALANCE SHEET in BGN'000 |
2008 |
2009 |
2010 |
2011 |
|
Accounting period: |
1.1.2008 - |
1.1.2009 - |
1.1.2010 - |
1.1.2011 - |
|
Fixed assets |
10967 |
10704 |
8805 |
7054 |
|
Tangible assets |
10957 |
10696 |
8796 |
7023 |
|
Intangible assets |
10 |
8 |
9 |
31 |
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Long-term investments |
||||
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Goodwill |
||||
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Prepaid expenses, deferred income, similar accounts |
||||
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Current assets |
6146 |
7158 |
10760 |
8554 |
|
Inventory |
4516 |
4426 |
4917 |
3241 |
|
Short-term receivables |
1243 |
2279 |
5416 |
4689 |
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Short-term investments |
||||
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Liquid assets |
366 |
379 |
357 |
624 |
|
Prepaid expenses |
21 |
74 |
70 |
|
|
Total Assets |
17113 |
17862 |
19565 |
15608 |
|
Equity capital |
4616 |
2690 |
3020 |
2788 |
|
Subscribed and paid capital |
5 |
5 |
5 |
5 |
|
Reserves |
||||
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Profit or loss carried forward |
491 |
67 |
465 |
2156 |
|
Profit of the year |
4120 |
2618 |
2550 |
627 |
|
Loss of the year |
||||
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Long-term liabilities |
7524 |
1311 |
1014 |
1301 |
|
Short-term liabilities |
4973 |
13861 |
15531 |
11519 |
|
P&L ACCOUNT in BGN'000 |
2008 |
2009 |
2010 |
2011 |
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Accounting period: |
1.1.2008 - |
1.1.2009 - |
1.1.2010 - |
1.1.2011 - |
|
Total operating expenses |
26895 |
27969 |
31110 |
29918 |
|
Financial expenditures |
765 |
921 |
849 |
904 |
|
Extraordinary expenses |
||||
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Profit before taxation |
4577 |
2914 |
2834 |
702 |
|
Taxes |
474 |
366 |
284 |
75 |
|
Profit after taxation |
4103 |
2548 |
2550 |
627 |
|
Total operating income |
32237 |
31804 |
33944 |
31294 |
|
Financial income |
230 |
|||
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Extraordinary income |
||||
|
Loss after taxation |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.27 |
|
|
1 |
Rs.87.43 |
|
Euro |
1 |
Rs.70.55 |
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.