MIRA INFORM REPORT

 

 

Report Date :

05.07.2012

 

IDENTIFICATION DETAILS

 

Name :

LARITA SL

 

 

Registered Office :

Calle Alcoy, 6 - Plta Bajo, 46004 Valencia

 

 

Country :

Spain

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

01.02.1995

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Wholesale of household appliances

 

 

No. of Employees :

1

 

 

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

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 – March 31st, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

Spain

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Identification

Current Business Name: LARITA SL

Other names:  YES

Current Address:  CALLE ALCOY, 6 - PLTA BAJO

46004 VALENCIA 

Branches:  1

Telephone number: 963415721 Fax: 963416099

URL:  www.laritasl.es

Corporate e-mail:  info@laritasl.com

 

 

Financial Information

Balance sheet latest sales (2010): 703.184,94 € (Mercantile Register)

Result: 5.987,59 €

Total Assets: 439.854,16 €

Share capital:  24.080,00 €

Employees:  4

Listed on a Stock Exchange: NO

 

 

Commercial Information

 

Incorporation date:  01/02/1995

Activity:  Wholesale of household appliances

NACE 2009 CODE: 4644

International Operations:  Imports

 

 

Corporate Structure

 

Administrator:

DARYANANI DARYANANI ROMESH, MANOHAR

 

 

Other Complementary Information

 

Latest act published in BORME:  06/09/2011 Annual Filed Accounts

Bank Entities:  There are

 

The date when this report was last updated is 04/07/2012.

 

 

Financial situation

 

Exercise:2010

 

Evolution

 

Treasury

 

Excellent

 

 

Indebtedness

 

Average

 

 

Profitability

 

Slight

 

 

Balance

 

Excellent

 

 

 

Performance

Incidents

 

 

None or Negligible

Business Trajectory

 

 

Good

 

 

Rating Informa Explanation

 

Financial situation

•          The company’s financial situation is normal.

•          The company’s financial situation evolution has been negative.

•          The sales evolution and results has been negative.

Company Structure

•          The company’s capitalization degree determines that its structure is normal.

•          The company’s size is  very small depending on its sales volume.

•          The employees evolution has been stable.

Performance and Incidences

•          The available information indicates that the company does not have payment incidences.

•          He have detected no recent legal actions or claims from the Administration against this company.

Accounts Filing

•          The company files regularly its accounts.

 

Reasons of the last outstanding calculation in the note

DATE

CHANGE

RESULTING NOTE

EVENT

10/01/2012

Equal

13

•          There has been a variation in the risk associated to the activity sector of the company.

 

INCIDENTS

 

 

Summary

AFFECTED BY: No significant element.

EXPERIAN BUREAU EMPRESARIAL BANK AND MULTI - SECTORIAL DEFAULTS OF PAYMENT

 

 

Summary

COMPANY NOT INCLUDED IN EXPERIAN BUREAU EMPRESARIAL BANK AND MULTI - SECTORIAL DEFAULTS OF PAYMENT

•          There is no information related to the nif/cif consulted in the in the EXPERIAN BUREAU EMPRESARIAL BANK AND MULTI - SECTORIAL DEFAULTS OF PAYMENT file

This information comes from Experian Bureau Empresarial Service, property of Experian Bureau de Crιdito S.A. It could just be used for businessmen or professionals and for the own aims of the business, and could not be transferred or transmitted to third parties, copied, duplicate or reproduce, nor incorporate to any owned or external database, or reuse it in any direct or indirect way. Experian Bureau de Crιdito S.A. may file you for damages it may suffer in case of breaching any of the afore mentioned obligations. Experian would not be responsible of the lack of accuracy in the supplied information when it coincides with the one supplied by the creditor entities.

 

FINANCIAL ELEMENTS AND SECTORIAL COMPARATIVE

 

FINANCIAL ELEMENTS

 

Balance-sheet analysis

Figures given in €

 

31/12/2010

(12)

 

%

ASSETS

 

31/12/2009

(12)

 

%

ASSETS

 

31/12/2008

(12)

 

%

ASSETS

 

ASSETS

 

 

 

 

 

 

A) NON CURRENT ASSETS

7.599,81

1,73

9.677,84

2,34

11.792,02

3,58

B) CURRENT ASSETS

432.254,35

98,27

404.415,57

97,66

317.777,05

96,42

LIABILITIES

 

 

 

 

 

 

A) NET WORTH

112.644,44

25,61

106.656,85

25,76

54.338,30

16,49

B) NON CURRENT LIABILITIES

 

 

 

 

 

 

C) CURRENT LIABILITIES

327.209,72

74,39

307.436,56

74,24

275.230,77

83,51

 

 

 

 

 

 

  A) NON CURRENT ASSETS

  B) CURRENT ASSETS

 

  A) NET WORTH

  C) CURRENT LIABILITIES

 

 

 

 

Balance Sheet Comments

Total assets of the company  grew in 6,22%  between 2.009 and 2.010.

In spite of the assets’ growth, non current assets decreased 21,47%.

This growth has been mainly financed with a debt increase of 6,43%. Nevertheless Net Worth grew 5,61%.

Total assets of the company  grew in 25,65%  between 2.008 and 2.009.

In spite of the assets’ growth, non current assets decreased 17,93%.

This growth has been financed, on a wider scale, with a Net Worth increase of 96,28% and in a smaller proportion with an debt increase of 11,70%.

 

 

Profit and loss account analysis

 

Figures given in €

 

31/12/2010

(12)

 

% NET TURNOVER

31/12/2009

(12)

 

% NET TURNOVER

31/12/2008

(12)

 

% NET TURNOVER

SALES

703.184,94

 

819.697,14

 

431.982,16

 

GROSS MARGIN

152.704,14

21,72

158.651,06

19,35

159.741,79

36,98

EBITDA

9.073,83

1,29

44.257,81

5,40

54.894,62

12,71

EBIT

6.995,80

0,99

41.665,34

5,08

49.366,97

11,43

NET RESULT

5.987,59

0,85

31.248,55

3,81

37.854,60

8,76

EFFECTIVE TAX RATE (%)

28,83

0,00

25,00

0,00

27,85

0,01

 

Profit and Loss Account Comments

The company’s sales figure  decreased in 14,21% between 2.009 and 2.010.

The company’s EBIT  decreased in 83,21% between 2.009 and 2.010.

This evolution implies a reduction in the company’s economic profitability .

The result of these variations is a decrease of the company’s Operating Profitability of 80,73% in the analysed period, being this profitability of 2,06% in the year 2.010.

The Net Result of the company  decreased in 80,84% between 2.009 and 2.010.

The company’s Financial Profitability has been positively affected by the financial activities in comparison with EBITs behaviour .

The result of these variations is a reduction of the company’s economic profitability of 80,88% in the analysed period, being equal to 7,47% in the year 2.010 .

The company’s sales figure  grew in 89,75% between 2.008 and 2.009.

The company’s EBIT  decreased in 15,60% between 2.008 and 2.009.

This evolution implies a reduction in the company’s economic profitability .

The result of these variations is a decrease of the company’s Operating Profitability of 35,83% in the analysed period, being this profitability of 10,69% in the year 2.009.

The Net Result of the company  decreased in 17,45% between 2.008 and 2.009.

The company’s Financial Profitability has been negatively affected by the financial activities in comparison with EBITs behaviour .

The result of these variations is a reduction of the company’s economic profitability of 59,55% in the analysed period, being equal to 39,06% in the year 2.009 .

 

 

COMPARATIVE SECTOR ANALYSIS

 

Values table

Figures expressed in %

 

COMPANY

(2010)

 

SECTOR

DIFFERENCE

BALANCE SHEET ANALYSIS: % on the total assets

 

 

 

ASSETS

A) NON CURRENT ASSETS

1,73

34,98

-33,26

A) CURRENT ASSETS

98,27

65,02

33,26

LIABILITIES

A) NET WORTH

25,61

36,42

-10,81

B) NON CURRENT LIABILITIES

 

22,26

 

C) CURRENT LIABILITIES

74,39

41,31

33,08

 

 

 

 

 

COMPANY

(2010)

 

SECTOR

DIFFERENCE

PROFIT AND LOSS ACCOUNT ANALYSIS: % on the total operating income

 

 

 

SALES

100,00

99,05

0,95

GROSS MARGIN

21,72

38,55

-16,83

EBITDA

1,29

5,67

-4,38

EBIT

0,99

3,61

-2,62

NET RESULT

0,85

1,48

-0,63

 

 

Sector Composition

Compared sector (NACE 2009): 4644

Number of companies: 141

Size (sales figure): 0 - 2,800,000.00 Euros

 

 

Comments on the sectorial comparative

Compared to its sector the assets of the companies show  an inferior proportion of non current assets. Specifically the difference with the sector average is -33,26% .

In liabilities composition the company turns to on a smaller scale to self financing, being the Net Worth proportion 10,81% inferior. As a consequence, external financing sources are more used by the company ( 10,81% more than the sector) .

The proportion that the sales mean to the company’s total ordinary income is 100,00% , an 0,95% higher than in the sector .

The company’s EBIT was positive and was 0,99% with regard to the total ordinary income, 2,62% inferior to the one of the sector .

The company’s capacity to generate operating income is inferior to that of the sector as its ratio EBIT/Sales is inferior (0,01 in comparison with 0,04) .

The company’s net result was positive and equal to 0,85% with regard to the total ordinary income, -0,63% inferior to the one of the sector .

The financial results and the tax impact have had a less negative impact on the net result of the company that in the sector .

 

 

OTHER DATA FROM THE ANNUAL FINANCIAL REPORT

Results Distribution

Source: annual financial report 2009

Figures given in €

DISTRIBUTION BASE

APPLICATION A

Profit and Loss Account Balance

31.248,55

Legal Reserve

0,00

Carry over

0,00

Goodwill reserve

0,00

Voluntary reserves

0,00

Special reserves

0,00

Other reserves disposable at will

0,00

Voluntary reserves

31.248,55

Total of Amounts to be distributed

31.248,55

Dividends

0,00

 

 

Carry over and others

0,00

 

 

Compensation of previous exercises losses

0,00

 

 

Application total

31.248,55

 

 

ADDRESSES

 

Business address

Current Legal Seat Address:

CALLE ALCOY, 6 - PLTA BAJO

46004 VALENCIA

 

 

Characteristics of the current address

Type of establishment: office,warehouse

Owners: rented

Local Situation: secondary

 

Branches

STREET

POSTAL CODE

TOWN

PROVINCE

CALLE RIU SEGURA, 23

46930

QUART DE POBLET

Valencia

 

CORPORATE STRUCTURE

 

ADMINISTRATIVE LINKS

 

 

Summary

 

 

 

 

 

Distribution of the administration board

 

Governing body : 2 members (latest change: 22/02/2010)

Other Positions : 1 (latest change: 02/12/2008)

Non-current positions : 4 (latest change: 22/02/2010)

 

 

  Men (100%)

 

 

Main Board members, Directors and Auditor

Governing body

POSITION

NAME AND SURNAME

DATE

APPOINTMENT

ADMINISTRATOR

DARYANANI DARYANANI ROMESH, MANOHAR

22/02/2010

ADMINISTRATOR

TOPANDAS LALWANI SAJAN

22/02/2010

 

 

 

Board members remuneration

Source: Annual financial report 2009

Board members remuneration: 21.600,00 €

 

 

FINANCIAL LINKS

 

Shareholders

 

BUSINESS NAME

TAX NUMBER/COUNTRY

%

SOURCE

DATE REP.

 

DARYANANI DARYANANI ROMESH MANOHAR

 

50,00

OWN SOURCES

29/06/2011

 

TOPANDAS LALWANI SAJAN

 

50,00

OWN SOURCES

29/06/2011

 

 

BUSINESS INFORMATION

 

Constitution

Incorporation date: 01/02/1995

 

Origin / Establishment

Establishment date: 01/01/1980

 

 

Activity

Informa Code: 1614300

Informa Activity: Wholesale of household appliances

NACE 2009 CODE: 4644

NACE 2009 Activity: Wholesale of china and glassware and cleaning materials

Business: EL COMERCIO AL POR MAYOR Y MENOR, IMPORTACION Y EXPORTACION DE TODA CLASE DE ARTICULOS DE REGALO CONFECCION Y PERFUMERIA.

Activity description: Venta al por mayor de todo tipo de artνculos de parafernalia (pipas, bongs, chilums, grinders, liadoras)inciensos, artesania, y artνculos de bisuteria.

 

Employees

Latest employees figure: 4 (2011)

% of fixed employees: 100,00%

Employees evolution

 

 

 

 

Employees distribution

Source: Annual financial report 2009

CATEGORY

AVERAGE NUMBER OF EMPLOYEES

MEN

WOMEN

Senior management

1

 

 

Sales representatives and similar

1

 

 

Other qualified employees

1

 

 

Non qualified employees

1

 

 

 

COMMERCIAL OPERATIONS

 

PURCHASES

Import Percentage: 50%

Imports from: UE Y OTROS PAISES, ASIA

National Distribution: 50%

SALES

Credit collections: 100%

Regional Distribution: 100%

 

SUPPLIERS

BUSINESS NAME

INTERNATIONAL

AARTI

YES

 

Banks

ENTITY

BRANCH

ADDRESS

TOWN OR CITY

PROVINCE

BANCO POPULAR ESPAΡOL, S.A.

 

 

 

 

 

Brands

Brand name: AARTI (Valid)

Type: GRAPHICAL    Scope: COMMUNITARY    Date: 30/03/2011

Brand name: TNT (Valid)

Type: JOINT    Scope: NATIONAL    Date: 12/03/2008

Brand name: TOP N TOP (Valid)

Type: JOINT    Scope: NATIONAL    Date: 12/03/2008

 

 

Constitution Data

Register Date: 01/02/1995

Register town: Valencia

Announcement number: 83906

Share capital: 3.005,06 €

 

Current structure data

Legal form: Limited Liability Company

Share capital: 24.080,00 €

 

Legal Aspects

Obligation to fill in Financial Statements: YES

Chamber census: YES (2010)

B.O.R.M.E. (OFFICIAL GAZETTE OF THE MERCANTILE REGISTER)

 

 

Summary

Acts on activity: 0

Acts on administrators: 12 (Last: 22/02/2010, first: 16/03/1995)

Acts on capital: 1 (Last: 15/02/2010)

Acts on creation: 1 (Last: 16/03/1995)

Acts on filed accounts: 16 (Last: 06/09/2011, first: 04/10/1996)

Acts on identification: 0

Acts on Information: 2 (Last: 22/02/2010, first: 04/09/1998)

 

Latest acts in B.O.R.M.E.

Most relevant acts of the last twelve months

ACT

DATE

NOTICE NUM.

MERCANTILE REGISTER

Annual Filed Accounts (2010)

06/09/2011

442928

Valencia

Other acts

ACT

DATE

NOTICE NUM.

MERCANTILE REGISTER

Annual Filed Accounts (2009)

24/09/2010

675786

Valencia

Modification of the Articles of Association

22/02/2010

75547

Valencia

Appointments

22/02/2010

75547

Valencia

Resignations

22/02/2010

75547

Valencia

Capital enlargement (IA)

15/02/2010

64499

Valencia

Annual Filed Accounts (2008)

07/09/2009

336179

Valencia

Appointments

02/12/2008

553776

Valencia

Resignations

02/12/2008

553775

Valencia

Annual Filed Accounts (2007)

29/08/2008

360806

Valencia

 

 

ADDITIONAL INFORMATION

This company has been consulted was last displayed on 01/06/2012, 4 times in the last quarter and 99 total times.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.55

UK Pound

1

Rs.85.47

Euro

1

Rs.68.70

 

 

INFORMATION DETAILS

 

Report Prepared by :

PDT

 

 

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%)

 

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.