MIRA INFORM REPORT

 

 

Report Date :           

18.01.2012

 

IDENTIFICATION DETAILS

 

Name :

INDUSTRIAL MECANO IMPORT EXPORT SRL 

 

 

Registered Office :

Mitropolit Veniamin Costache 22, 050192 Bucuresti, Sector 4, Bucuresti

 

 

Country :

Romania

 

 

Financials (as on) :

30.06.2011

 

 

Date of Incorporation :

04.03.2004 

 

 

Com. Reg. No.:

No. J40/3374/2004 

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Manufacture of plastic plates, sheets, tubes and profiles

 

 

No. of Employees :

105

 

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 :

EUR 400.000,00

 

 

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 – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

Romania

b1

b1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 


 

                                                                                                                                                                                                                                                                                                                              

COMPANY name 

 

 

 

INDUSTRIAL MECANO IMPORT EXPORT SRL 

Principal Address:
Mitropolit Veniamin Costache 22
050192 Bucuresti, Sector 4
Bucuresti
Romania
Telephone: +40-21-3368393, +40-744-534574, +40-744-474699, +40-724-043702, +40-744-709705
Fax: +40-21-3368393
Email:                      abrazive@industrial.ro ; all@industrial.ro
Web:                       www.industrial.ro

Branch production:
Anton Bacalbasa 2/D
300524 Timisoara, jud. Timis
Romania
Telephone: +40-256-219766, +40-256-287153, +40-256-287298, +40-256-287737, +40-256-290218/292397

Branch production:
B-dul Metalurgiei 4
700293 Iasi Jud Iasi
Romania

Branch production:
Avram Iancu (E-60) 442-446
407280 Floresti Jud Cluj
Romania
Telephone:                    +40-264-275105, +40-264-275106
Fax:                             +40-264-481143
Email:                          abrazive@cluj.astral.ro,ambalare@cluj.astral.ro

Branch production:
Ana Ipatescu 44
077120 Jilava Jud Ilfov
Romania

 

ICON number: 9488670 
National ID: J40/3374/2004 
VAT number: 10973931

 

Registration status: 1998 - registered company
Activity status: 1998 - active company

 


CREDIT INFORMATION SUMMARY  

 

 

 

Insolvency Information:

According to available information sources the company is not in a insolvency/preliminary/debt regulation proceeding.

 

 

 

Maximum Credit:

EUR 400.000,00

 

 

 

 

 

Payment Practices:

Payments are made mostly according to terms
There are no major payment incidents registered between 11-01-2005 - 11-01-2012.

According to official sources (Ministry of Finance) the subject company is not registered with any debt to the State Budget at 30.06.2011.
According to official sources (Ministry of Finance) the subject company is not registered with any debt to the State Budget at 30.09.2011.

 

 

 

Further Rating Information:

Researched company is categorized as a medium sized company.
The company generated a turnover of RON 29.910.924 in the year 30.06.2011

 

 

 

Debt Collection:

There is no record of any debt collection against this company exceeding a single case volume of EUR 500.

 

 

 

 

COMPANY DETAILS   

 

 

 

Established:

1998

 

 

 

Registration:

No. J40/3374/2004 
04.03.2004 
Bucuresti, Romania

 

 

 

Former Registration:

No. J35/932/1998 
1998 
Timis, Romania

 

 

 

Legal Form:

Limited Liability Company

 

 

 

Capital:

Nominal capital:

 

RON 50.000,00

Number of Ordinary shares:

5.000

 

Value per share of Ordinary shares:

RON 10,00

 

 

Paid-up capital:

 

RON 50.000,00

 

 

 

 

Shareholders:

Full Name

Function

Address

Equity capital

BOHAN MARIUS RAZVAN

Shareholder

Romania

42,00%
2.100 Ordinary shares

PASCARU LEONTIN FLORIN RADU

Shareholder

Romania

42,00%
2.100 Ordinary shares

Abraflex Enterprises INC.
Registration: United States of America

Shareholder

Silverside Road 1053511
19810 Wilmington
United States of America

10,00%
500 Ordinary shares

BRAMSON (OVERSEAS) LTD
Registration: Virgin Islands (British)

Shareholder

TORTOLA
TRIDENT CHAMBERS ROAD
Virgin Islands (British)

6,00%
300 Ordinary shares



BOHAN MARIUS RAZVAN is registered as shareholder within the following companies:
- INDUSTRIAL TRADE & TECHNOLOGY SRL, J35/2478/2003
- MANAGEMENT PRODUCÞIE SRL, J35/2979/2004
- INDUSTRIAL PLASTIC RECYCLING SRL, J40/14716/2003

BOHAN MARIUS RAZVAN is registered as administrator within INDUSTRIAL PLASTIC RECYCLING SRL, J40/14716/2003.

PASCARU LEONTIN FLORIN RADU is registered as shareholder within the following companies:
- INDUSTRIAL TRADE & TECHNOLOGY SRL, J35/2478/2003
- MANAGEMENT PRODUCTIE SRL, J35/2979/2004
- ROSIE RE SRL, J35/2632/2006
- INDUSTRIAL PLASTIC RECYCLING SRL, J40/14716/2003

PASCARU LEONTIN FLORIN RADU is registered as administrator within the following companies:
- INDUSTRIAL PLASTIC RECYCLING SRL, J40/14716/2003
- INDUSTRIAL TRADE & TECHNOLOGY SRL, J35/2478/2003
- MANAGEMENT PRODUCTIE SRL, J35/2979/2004

 

 

 

Management:

Full Name

Function

Address

BOHAN MARIUS RAZVAN
01.06.2004 - Present

Director

Romania

PASCARU LEONTIN FLORIN RADU
01.06.2004 - Present

Director

Romania

 

 

 

Person functions in other companies:

Function

Company

Other known functions of  BOHAN MARIUS RAZVAN

Managing director

INDUSTRIAL TRADE & TECHNOLOGY SRL (RO)
National ID: J35/2478/2003

Shareholder

INDUSTRIAL TRADE & TECHNOLOGY SRL (RO)
National ID: J35/2478/2003

 

 

 

Related Companies:

affiliate
INDUSTRIAL PLASTIC RECYCLING SRL , Romania , National ID: J40/14716/2003

affiliate
INDUSTRIAL TRADE & TECHNOLOGY SRL , Romania , National ID: J35/2478/2003

 

 

 

 

 

KEY DATA ON OPERATIONS      

 

 

 

Subject of Operation:

NACE
  2221 Manufacture of plastic plates, sheets, tubes and profiles


Industrial Mecano Group is the biggest producer and distributor of packaging materials and machines in Romania.
NACE codes given are based on the most recent NACE Revision 2.

The company is active in the Coface sector 'Mineral products, chemicals, petroleum, plastics, pharmaceuticals and glass '.



Note: the Coface Sector Rating for this industry in the emerging markets of CEE is 'B' (Last rating: 'B')

Inflation rate: 6,09%

 

 

Company Development:

300: Satisfactory business development

 

 

 

Key Data: 

Amounts shown in Romanian Leu (New) (RON)

 

01.01.2011-30.06.2011

2010

2009

2008

Turnover

29.910.924

55.869.813

54.721.008

61.732.222

Fixed assets

13.311.593

8.917.324

9.348.170

9.949.669

Equity capital

15.084.938

15.925.336

15.731.670

14.067.478

Profit after taxation

0

193.667

1.664.192

134.377

Operating result - profit

0

621.560

2.669.219

1.584.461

 

 

01.01.2011-30.06.2011

2010

2009

2008

Return on assets ( ROA )
Net profit / Total assets

0

0,01

0,07

0,01

Return on equity ( ROE )
Net profit / Shareholder equity

0

0,01

0,11

0,01

 

 

 

Workforce:

 

30.06.2011

2010

2009

2008

Total workforce

105

92

87

92

 

 

 

Major Customers:

Borsec Romaqua, Coca Cola HBC, Unilever Romania, Elite Romania, Nestle Romania, 
Dorna Apemin, General Transilvania, Köber , Romcarton, Cesarom, Mondial, Hochland, 
Star Foods, Procter & Gamble, Frigorex Romania, Lemarpol, Danone, Dr. Oetker, Eurocafe, Excelent, Parmalat, Standard Nutricia

 

 

 

Major Suppliers:

Authorized dealer for: SCAPA TAPES(GB), STARKE(DE), CARBORUNDUM(DE), VETA(CZ), DYNABRADE(US)

 

 

 

 

 

                                                                                                                                                                                                                                                                                                                              

FINANCIAL INFORMATION   

 

 

 

Financials: 

Amounts shown in Romanian Leu (New) (RON)  

01.01.2011-30.06.2011

2010

2009

2008

 



BALANCE SHEET

 

FIXED ASSETS

13.311.593

8.917.324

9.348.170

9.949.669

 

Intangible assets

19.617

12.588

1.274

1.825

 

Tangible assets

12.146.208

8.534.528

9.346.896

9.947.844

 

Financial fixed assets

1.145.768

370.208

0

0

 

CURRENT ASSETS

22.025.898

17.562.029

14.046.426

14.540.620

 

Inventory

8.962.333

5.995.688

5.374.252

5.157.721

 

Claims (receivable)

12.418.698

10.323.617

7.556.830

7.706.009

 

Liquid assets

644.867

1.242.724

1.115.344

1.676.890

 

SHORT TERM FINANCIAL INVESTMENTS

 

0

0

0

 

PREPAID EXPENSES

78.798

49.696

40.210

39.549

 

TOTAL ASSETS

35.416.289

26.529.049

23.434.806

24.529.838

 

EQUITY CAPITAL

15.084.938

15.925.336

15.731.670

14.067.478

 

Share capital

50.000

50.000

50.000

50.000

 

Subscribed and paid capital

50.000

50.000

50.000

50.000

 

Reserves

13.478.998

0

11.686.974

11.214.800

 

Short-term liabilities

13.967.143

10.590.655

7.679.488

10.368.078

 

Long-term liabilities

6.351.150

0

0

56.126

 

TOTAL DEBTS

20.318.293

10.590.655

7.679.488

10.424.204

 

Provisions for risks and charges

13.058

13.058

23.648

38.156

 

Deferred income

0

0

0

0

 

TOTAL EQUITY AND LIABILITIES

35.416.289

26.529.049

23.434.806

24.529.838

 



PROFIT AND LOSS

 

Turnover

29.910.924

55.869.813

54.721.008

61.732.222

 

TOTAL INCOME

31.388.254

56.778.377

55.835.434

62.753.399

 

Operating income

30.706.121

56.142.625

55.359.313

62.314.113

 

Income from financial transactions (financial income)

682.133

635.752

476.121

439.286

 

Extraordinary income

0

0

0

0

 

TOTAL EXPENSES

31.938.350

56.452.960

53.744.459

62.511.605

 

Operating expenses

31.083.811

55.521.065

52.690.094

60.729.652

 

Expenses on financial transactions (financial expenditures)

854.539

918.813

1.054.365

1.781.953

 

Extraordinary expenses

0

13.082

0

0

 

Operating result - profit

0

621.560

2.669.219

1.584.461

 

Operating result - loss

377.690

0

0

0

 

Profit on financial transactions (financial profit)

0

0

0

0

 

Loss on financial transactions (financial loss)

172.406

283.061

578.244

1.342.667

 

Current result - profit

0

338.499

2.090.975

241.794

 

Current result - loss

550.096

0

0

0

 

Extraordinary profit

0

0

0

0

 

Extraordinary loss

0

13.082

0

0

 

Profit before taxation

0

325.417

2.090.975

241.794

 

Loss before taxation

550.096

0

0

0

 

Profit after taxation

0

193.667

1.664.192

134.377

 

Loss after taxation

569.182

0

0

0

 

Profit tax

19.086

131.750

426.783

107.417

 

 

 

Approximate Exchange Rates:

2010: 4,2099 RON = 1 EUR
2009: 4,2373 RON = 1 EUR
2008: 3,6827 RON = 1 EUR
2007: 3,332 RON = 1 EUR
2009: 3,0493 RON = 1 USD
2008: 2,5189 RON = 1 USD
2007: 2,4383 RON = 1 USD

 

 

 

Financial Comments:

Source of financials for 2010 and 30.06.2011: subject company.

Effectively from July 1st 2005, the Romanian currency was redenominated so that 10,000 old lei(ROL) will be exchanged for 1 new leu (RON). 
The financial statements of the companies will be published in new currency RON starting with 31.12.2005.
All financials for previous years displayed in the report were converted from ROL to RON.

 

 

 

Bankers:

ALPHA BANK ROMANIA SA BUCURESTI SUCURSALA UNIRII
030834 Bucuresti, Sector 3, B-dul. Unirii 62, Bl. K5

OTP BANK ROMANIA S.A. BUCURESTI SUCURSALA TIMISOARA - Account no. RO53BNRB190000034193RO02
300627 Timisoara, Jud. Timis, Piata Consiliul Europei 1

OTP BANK ROMANIA S.A. BUCURESTI SUCURSALA TIMISOARA - Account no. RO69BNRB190000034193RO05
300627 Timisoara, Jud. Timis, Piata Consiliul Europei 1

OTP BANK ROMANIA S.A. BUCURESTI SUCURSALA TIMISOARA - Account no. RO86BNRB110000034193RO01
300627 Timisoara, Jud. Timis, Piata Consiliul Europei 1

OTP BANK ROMANIA S.A. BUCURESTI SUCURSALA TIMISOARA - Account no. RO98BNRB200000034193RO03
300627 Timisoara, Jud. Timis, Piata Consiliul Europei 1

RAIFFEISEN BANK SA
Bucuresti

 

 

Ratios: 

 

01.01.2011-30.06.2011

2010

2009

2008

Debt Ratio
(Short-term liabilities + Long-term liabilities) / Total Assets

0,57

0,40

0,33

0,42

Quick ratio
(Current assets - Inventory)/Current liabilities

0,94

1,09

1,13

0,90

Current ratio ( CR )
Current assets / Current liabilities

1,58

1,66

1,83

1,40

Leverage
Long Term Liabilities / Total Equity

0,42

0

0

0,00

Return on sales ( ROS )
Net profit / Turnover

0

0,00

0,03

0,00

Return on assets ( ROA )
Net profit / Total assets

0

0,01

0,07

0,01

Return on equity ( ROE )
Net profit / Shareholder equity

0

0,01

0,11

0,01

Operating margin, in %
Operating result / Sales

0

1,11

4,88

2,57

Days supply in inventory
(Inventory / Turnover) * No. of days in period

53,93

39,17

35,85

30,50

Days sales in receivables
(Receivables / Turnover) * No. of days in period

74,73

67,44

50,41

45,56

Days purchase in payables
(Current Liabilities / Turnover) * No. of days in period

84,05

69,19

51,22

61,30

Sales to Total Assets
Sales / Total assets

0,84

2,11

2,34

2,52

Operating result / Total assets
Operating result / Total assets

0

0,02

0,11

0,06

Cash ratio
Cash / Current liabilities

0,05

0,12

0,15

0,16

Equity as % of total assets
(Equity capital / Total Assets) * 100

42,59

60,03

67,13

57,35

Fixed assets as % of total assets
(Fixed assests / Total assets) * 100

37,59

33,61

39,89

40,56

Receivables as % of current assets
(Receivables / Current assets) * 100

56,38

58,78

53,80

53,00

Net working capital
Current assets - Short-term liabilities

RON 8.058.755,00

RON 6.971.374,00

RON 6.366.938,00

RON 4.172.542,00

 


 

FOREIGN EXCHANGE RATES

 

Currency

Unit

Indian Rupees

US Dollar

1

Rs.51.06

UK Pound

1

Rs.78.48

Euro

1

Rs.64.99

 

 

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.