MIRA INFORM REPORT

 

 

Report Date :

19.01.2012

 

IDENTIFICATION DETAILS

 

Name :

CAROCO COMIMPEX SRL

 

 

Registered Office :

Valea Argesului 2, Bl.522, Sc.1, Ap.3 061934 Bucuresti, sector 6 Bucuresti

 

 

Country :

Romania

 

 

Financials (as on) :

2010

 

 

Date of Incorporation :

06.04.1992

 

 

Com. Reg. No.:

No. J40/8336/1992

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Wholesale of chemical products

 

 

No. of Employees :

1

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

EUR 10.000,00

Status :

Moderate

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 30, 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 REPORTED

 

 

 

CAROCO COMIMPEX SRL

Principal Address:
Valea Argesului 2, Bl.522, Sc.1, Ap.3
061934 Bucuresti, sector 6
Bucuresti
Romania
Telephone: +40-21-7788071/4900, +40-21/31-4449793/9789, +40-21-4105482/3148112, +40-722-497832, +40-751-230242/230241
Fax: +40-21-7800235
Email: office@caroco.ro
Web: www.caroco.ro

The subject company has 1 secundary office officially registered in Romania.

 

ICON number: 39092530
National ID: J40/8336/1992
Statistic number: 401588944
VAT number: 452235

 

Registration status: 06.04.1992 - registered company
Activity status: 06.04.1992 - 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 10.000,00

Maximum Credit is to be understood as the highest possible engagement for a supplier delivering goods or rendering services on open terms with an average respite of 60 days. (It is assumed that, on the average, the company in question has 5 suppliers, who deliver goods or render services at the same time.)

 

 

 

 

 

Payment Practices:

Payments are made mostly according to terms
According to official sources (Ministry of Finance) the subject company is not registered with any debt to the State Budget at 30.09.2011.

 

 

 

 

Debt Collection:

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

 

 

 

 

COMPANY DETAILS      

 

 

 

Established:

1992

 

 

 

Registration:

No. J40/8336/1992
06.04.1992
Bucuresti, Romania

 

 

 

Legal Form:

Limited Liability Company

 

 

 

Capital:

Nominal capital:

 

RON 2.000,00

Number of Ordinary shares:

200

 

Value per share of Ordinary shares:

RON 10,00

 

 

Paid-up capital:

 

RON 2.000,00

 

 

 

 

Shareholders:

Full Name

Function

Address

Equity capital

ADDE CHEMICALS SRL
Registration: No. J40/9417/2001, 09.11.2001, Bucuresti, Romania

Shareholder

Drumul Sarii 22, Bl.A48, Sc.2, Et.1, Ap.22
060156 Bucuresti, sector 6
Romania

50,00%
100 Ordinary shares

ILIE FLORIN

Shareholder

Romania

50,00%
100 Ordinary shares



ILIE FLORIN is registered both as shareholder and administrator within the following companies:
ROAD IMPORT EXPORT SRL, J40/20306/2004
ADDE CHEMICALS SRL, J40/9417/2001.

 

 

 

Management:

Full Name

Function

Address

ILIE FLORIN
30.08.2004 - Present

Director

Romania

 

 

 

Person functions in other companies:

Function

Company

Other known functions of  ILIE FLORIN

Managing director

ADDE CHEMICALS SRL (RO)
National ID: J40/9417/2001

Shareholder

ADDE CHEMICALS SRL (RO)
National ID: J40/9417/2001

 

 

 

Related Companies:

affiliate
ADDE CHEMICALS SRL , Romania , National ID: J40/9417/2001

affiliate
ROAD IMPORT EXPORT SRL , Romania

 

 

 

 

KEY DATA ON OPERATIONS      

 

 

 

Subject of Operation:

NACE
  4675 Wholesale of chemical products


The subject company performs import and distribution of raw materials for the varnish and paint/adhesive industry and for the rubber industry.
NACE codes given are based on the most recent NACE Revision 2.

 

 

 

Company Development:

Slightly declining business development

 

 

 

Key Data:

Amounts shown in Romanian Leu (New) (RON)

 

2010

2009

2008

Turnover

2.364.256

3.999.067

3.344.490

Fixed assets

8.452

19.915

29.817

Equity capital

197.051

468.155

267.895

Profit after taxation

0

267.879

110.761

Loss after taxation

103.225

0

0

Operating result - profit

0

349.415

179.616

Operating result - loss

61.212

0

0

 

 

2010

2009

2008

Return on assets ( ROA )
Net profit / Total assets

0

0,20

0,13

Return on equity ( ROE )
Net profit / Shareholder equity

0

0,57

0,41

 

 

 

Workforce:

 

2010

2009

2008

Total workforce

1

2

1

 

 

 

Major Suppliers:

ROHM & HAAS, PETROFLEX Brazilia.

 

 

 

                                                                               

FINANCIAL INFORMATION   

 

 

 

Financials:

Amounts shown in Romanian Leu (New) (RON)  

2010

2009

2008






BALANCE SHEET

 

FIXED ASSETS

8.452

19.915

29.817

 

CURRENT ASSETS

884.717

1.311.909

805.689

 

Inventory

228.368

100.740

270.658

 

Claims (receivable)

854.469

1.305.211

529.653

 

Liquid assets

-198.120

-137.526

-19.466

 

SHORT TERM FINANCIAL INVESTMENTS

0

43.484

24.844

 

PREPAID EXPENSES

2.595

2.753

1.864

 

TOTAL ASSETS

895.764

1.334.577

837.370

 

EQUITY CAPITAL

197.051

468.155

267.895

 

Share capital

2.000

2.000

2.000

 

Subscribed and paid capital

2.000

2.000

2.000

 

Reserves

298.276

4.400

4.400

 

Short-term liabilities

698.713

866.422

551.496

 

Long-term liabilities

0

0

17.979

 

TOTAL DEBTS

698.713

866.422

569.475

 

Provisions for risks and charges

0

0

0

 

Deferred income

0

0

0

 

TOTAL EQUITY AND LIABILITIES

895.764

1.334.577

837.370






PROFIT AND LOSS

 

Turnover

2.364.256

3.999.067

3.344.490

 

TOTAL INCOME

2.366.959

4.046.337

3.347.439

 

TOTAL EXPENSES

2.463.734

3.716.364

3.215.185

 

Operating result - profit

0

349.415

179.616

 

Operating result - loss

61.212

0

0

 

Profit on financial transactions (financial profit)

0

0

0

 

Loss on financial transactions (financial loss)

35.563

19.442

47.362

 

Current result - profit

0

329.973

132.254

 

Current result - loss

96.775

0

0

 

Extraordinary profit

0

0

0

 

Extraordinary loss

0

0

0

 

Profit before taxation

0

329.973

132.254

 

Loss before taxation

96.775

0

0

 

Profit after taxation

0

267.879

110.761

 

Loss after taxation

103.225

0

0



 

 

 

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

 

 

 

Bankers:

BANCA COMERCIALA ROMANA SA BUCURESTI SUCURSALA UNIREA
030824 Bucuresti, Sector 3, B-dul. Unirii 43-45, Bl. E2-E3

BRD - GROUPE SOCIETE GENERALE SA BUCURESTI SUCURSALA ACADEMIEI - GRUP ACADEMIEI - Account no. RO66BRDE410SV35119284100
010081 Bucuresti, Sector 1, Calea Victoriei 32-34

RAIFFEISEN BANK SA - Account no. RO49RZBR0000060007197978/RON
Sector 6

RAIFFEISEN BANK SA - Account no. RO56RZBR0000060007305425/EUR
Sector 6

 

 

 

Ratios:

 

2010

2009

2008

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

0,78

0,65

0,68

Quick ratio
(Current assets - Inventory)/Current liabilities

0,94

1,40

0,97

Current ratio ( CR )
Current assets / Current liabilities

1,27

1,51

1,46

Leverage
Long Term Liabilities / Total Equity

0

0

0,07

Return on sales ( ROS )
Net profit / Turnover

0

0,07

0,03

Return on assets ( ROA )
Net profit / Total assets

0

0,20

0,13

Return on equity ( ROE )
Net profit / Shareholder equity

0

0,57

0,41

Operating margin, in %
Operating result / Sales

0

8,74

5,37

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

35,26

9,19

29,54

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

131,92

119,13

57,80

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

107,87

79,08

60,19

Sales to Total Assets
Sales / Total assets

2,64

3,00

3,99

Operating result / Total assets
Operating result / Total assets

0

0,26

0,21

Cash ratio
Cash / Current liabilities

-0,28

-0,16

-0,04

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

22,00

35,08

31,99

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

0,94

1,49

3,56

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

96,58

99,49

65,74

Net working capital
Current assets - Short-term liabilities

RON 186.004,00

RON 445.487,00

RON 254.193,00

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.50.66

UK Pound

1

Rs.77.72

Euro

1

Rs.64.63

 

 

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.