MIRA INFORM REPORT

 

 

Report Date :

20.07.2012

 

IDENTIFICATION DETAILS

 

Name :

DESTOUNIS, CH., S.A.

 

 

Registered Office :

44 Anagennisseos  14451 Metamorfossi  Attiki                                                   

 

 

Country :

Greece             

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

29.08.2001

 

 

Legal Form :

Societe Anonyme

 

 

Line of Business :

Manufactures textile goods,

 

 

No. of Employees :

3

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

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 – March 31st, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

Greece

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

COMPANY NAME

 

Destounis, CH., S.A.
Customer reference no: 186994 Normal

 

 

IDENTIFICATION DETAILS

 

NAME:                        DESTOUNIS, CH., S.A.

 

ADDRESS:              44 ANAGENNISSEOS                                         

                               14451 METAMORFOSSI                                       

                               ATTIKI                                                   

                               GREECE                                                   

 

TELEPHONE:          30  2102831544                                           

                               30  2102831572                                           

TELEFAX:                 30  2102853502

                                           

E-MAIL ADDRESS:   destounis@msn.com                                                                  

           

 

SENIOR COMPANY PERSONNEL

 

PRINCIPALS: 
Maria Deli 
member 
            
Frangiskos Kotsonis 
member 
            
Christos Charalambos Destounis 
chief executive 
shareholder 
            
Christos Charalambos Destounis 
chairman 
shareholder

 

 

WORKFORCE

 

EMPLOYS: 3 at Jun 29, 2010

The number of employees varies according to needs.

 

PAYMENTS

 

Informants report that subject's payments are prompt. 
 
 

RATINGS

 

Average risk

 

 

BANKERS

 

Alpha Bank A.E., N. Filadelfeia - Halkidona Bra branch., 87-89Dekeleias, Nea Halkidona 14343, Greece. 
Telephone: 30 2102584135 
 
EFG EUROBANK ERGASIAS S.A., N. Ionia Branch branch., 342 Irakleiou Ave & A. Panagouli, Nea Ionia 14231, Greece. 
Telephone: 30 2102799870 
Probank S.A., N. Irakleio Branch branch., 50 Ifigeneias & Velissariou,Irakleio 14122, Greece. 
Telephone: 30 2102856900 
 
 

FINANCIALS

 

 

 

                      Fiscal           Fiscal     Fiscal

                   Dec 31,2009      Dec 31,2010     Dec 31,2011

Turnover              29,791            4,925         409,235

Pre-Tax Profit      -147,790          -56,998          25,946

Net Worth            593,575          534,477         560,422

Fixed Assets         593,201          557,652         533,486

Total Assets       1,021,286          936,149       1,212,883

Current Assets       428,084          378,497         679,397

Current Liabilities  387,415          366,117         621,646

Working Capital       40,669           12,380          57,751

Long Term Debt        40,296           35,556          30,815

Intangibles                0                0               0

Employees                  3                3               3

 

Net Worth and Total Assets are tangible figures shown after the deduction of intangible assets.

 

+--------+

| RATIOS |

+--------+

                       Dec 31,2009      Dec 31,2010     Dec 31,2011

Current Ratio (X)            1.10             1.03            1.09

Solvency Ratio (%)         172.06           175.15           216.4

Fixed Assets/Net Worth (%)  99.94           104.34           95.19

Current Liabs/Net Worth (%) 65.27            68.50          110.92

Asset Turnover (%)           2.92             0.53           33.74

Sales / Net Working Cap (X)  0.73             0.40            7.09

Assets / Sales (%)       3,428.17        19,008.10          296.38

Profit Margin (%)         -496.09        -1,157.32            6.34

S/holders Return (%)       -24.90           -10.66            4.63

Return On Assets (%)       -14.47            -6.09            2.14

Sales / Employees        9,930.33         1,641.67      136,411.67

Profit / Employees     -49,263.33       -18,999.33        8,648.67

 

     Abstract from individual fiscal balance sheet as at Dec 31, 2011

 

LIABILITIES                             ASSETS                       

Capital           1,036,877   Land/Buildings               1,012,867

Retained Profits   -643,516   Plant/Machinery                 12,676

Misc Reserves       167,062   Depreciation                   492,057

Net Worth            60,423   Total Fixed Ass                533,486

 

Misc Def Liabs       30,815   Misc Intangible                      0

                              Total Intangible                     0

 

CURRENT LIABILITIES:                         CURRENT ASSETS:              

Trade Creditors      616,593   Stock                          301,286

Misc Current Liabs     5,053   Trade Debtors                  359,930

                               Cash                            18,182

 

TOTAL CURRENT        621,646   TOTAL CURRENT                  679,398

 

TOTAL LIABS & NW   1,212,884   TOTAL ASSETS                 1,212,88

 

Profit & Loss Account from Jan 1, 2011 to Dec 31, 2011                

 

             Net Sales                               409,235

             Cost of Goods Sold                      333,880

 

             Gross Profit                             75,355

             Misc Operating Charges                   97,005

             Misc Operating Income                    47,606

 

             Net Operating Income                     25,956

 

             Interest Payable                             10

             Total Financial Expenses                     10

 

             Profit Before Taxes                      25,946

 

             Profit After Tax                         25,946

 

             Net Profit                               25,946

According to the balance sheet as of Dec 31, 2011.

    

The below mentioned financial figures are in Euro

    

Financial statement obtained from subject on Jul 11, 2012.

On Jul 13, 2012

 

 

 

LEGAL STATUS

 

BACKGROUND 
Business started Aug 29, 2001. 
     
Subject acquired the business of DESTOUNIS CHRISTOS, a Proprietorship with effect from Oct 3, 2003. 
     
Subject acquired the business of DESTOUNIS HARALAMBOS, a Proprietorship with effect from Oct 3, 2003. 
     
LEGAL FORM 
Societe anonyme registered on Aug 29, 2001 for a period ending Dec 31,
2051. 
Registration Number: 049663 
Government Gazette Number: 07644 / 2001 
Chamber of Commerce Number: 188099 
Tax Registration Number: 099364982 
     
Established following the dissociation of the firm : DESTOUNIS S.A. On 3/10/2003 (Gov. Gaz. No. 10321/2003) subject absorbed the firm(s) DESTOUNIS HARALAMBOS, DESTOUNIS CHRISTOS.

 

 

 

CAPITAL DETAILS

 

Nominal capital: 1,036,876. Issued capital: 1,036,876.

Issued/paid-up capital was last increased on Dec 22, 2006.

    

Nominal capital is divided into:

35,328 shares of 29.35 each and fully paid-up.

 

 

SHAREHOLDERS

 

Christos Charalambos Destounis holds 100% of the voting capital.
        
      

LINKED COMPANIES

 

The following are related through principal(s) and/or financial interest(s): 
 
DE.GI.DA. LTD Limited Liability Company, Metamorfossi, Greece Year started: 2005. 
This concern is related through common shareholders.
   

ACTIVITIES

 

Local Activity Code:                 1399                                           
Local Activity Code Type:         STAKOD                                         
Equivalent to:                          NACE 1                                         
     
Manufactures textile goods, 
Engaged as operative builders,
Manufacturing of textile by-products (wadding), 
Building contractors, 
Wholesale trade of garment and upholstery fabrics, yarns and white linen.

 

 

IMPORTS

 

Imports 30% from Former Yugoslav Rep of Macedonia, South Korea, U K, U.S.A 
Normal importing terms are cash against documents 
    
 

PREMISES / REAL ESTATE

 

Operates from owned factory; covering approximately 1,800 square meters at heading address.

    

The site covers approximately 5,500 square meters.

    

REGISTERED OFFICE: At heading address:

44 ANAGENNISSEOS,                                          

14451 METAMORFOSSI,                                       

ATTIKI,                                                   

GREECE                                                  

 

 

 

GENERAL COMMENTS 

 

No further information is available for the subject.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.38

UK Pound

1

Rs.86.75

Euro

1

Rs.68.06

 

 

INFORMATION DETAILS

 

Report Prepared by :

PRL

 

 

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.