MIRA INFORM REPORT

 

 

Report Date :

01.06.2012

 

IDENTIFICATION DETAILS

 

Name :

PRODAC

 

 

Registered Office :

Vitshoekstraat 1, Zwijndrecht, 2070

 

 

Country :

Belgium

 

 

Financials (as on) :

30.09.2011

 

 

Date of Incorporation :

1966

 

 

Com. Reg. No.:

404981928

 

 

Legal Form :

Private Independent

 

 

Line of Business :

Wholesale of hardware, plumbing and heating equipment and supplies

 

 

No. of Employees :

17

 

 

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)

Belgium

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name and address

 

Prodac

 

 

 

Vitshoekstraat 1

 

 

Zwijndrecht, 2070

Belgium

 

Tel:

03 252 20 00

Fax:

03 252 53 51

 

www.prodac.be

 

Employees:

17

Company Type:

Private Independent

 

 

Incorporation Date:

1966

 

 

 

 

 

Fiscal Year End:

30-Sep-2011

Reporting Currency:

Euro

Annual Sales:

67.8  1

Total Assets:

28.3

 

 

 

 

 

 

Business Description

 

 

 

Wholesale trade in stainless steel and carbon steel coils, sheets, strips, wire, tubes and pipes

 

 

Industry

 

 

 

Industry

Miscellaneous Capital Goods

ANZSIC 2006:

3322 - Metal and Mineral Wholesaling

NACE 2002:

5152 - Wholesale of metals and ores

NAICS 2002:

423510 - Metal Service Centers and Other Metal Merchant Wholesalers

UK SIC 2003:

5152 - Wholesale of metals and ores

US SIC 1987:

5051 - Metals Service Centers and Offices

 

Key Executives

 

 

 

 

 

Name

Title

 

Inga Verbeeck

Chief Executive Officer

 

Jan Willemse

Chief Financial Officer

 

Johan Caspers

Administrator

 

Andre Camiel Leon Gilbert Clybouw

Representative/Auditor

 

Mario Alfons Maria Van Gasse

Decision-maker, Shareholders' Representative

 

 

 

Registered No.(VAT)

 

404981928

 

1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.717768
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7453231

 

 

Corporate Overview

 

 

Location
Vitshoekstraat 1
Zwijndrecht, 2070
Belgium

 

Tel:

03 252 20 00

Fax:

03 252 53 51

 

www.prodac.be

Sales EUR(mil):

48.7

Assets EUR(mil):

21.1

Employees:

17

Fiscal Year End:

30-Sep-2011

 

 

 

Industry:

Miscellaneous Capital Goods

Incorporation Date:

1966

Company Type:

Private Independent

Quoted Status:

Not Quoted

Registered No.(VAT):

404981928

 

Administrator:

Johan Caspers

 

 

Industry Codes

 

 

 

ANZSIC 2006 Codes:

3322

-

Metal and Mineral Wholesaling

 

NACE 2002 Codes:

5152

-

Wholesale of metals and ores

 

NAICS 2002 Codes:

423510

-

Metal Service Centers and Other Metal Merchant Wholesalers

 

US SIC 1987:

5051

-

Metals Service Centers and Offices

 

UK SIC 2003:

5152

-

Wholesale of metals and ores

 

 

Business Description

 

 

Wholesale of hardware, plumbing and heating equipment and supplies

 

 

 

 

 

 

More Business Descriptions

 

 

Wholesale trade in stainless steel and carbon steel coils, sheets, strips, wire, tubes and pipes

 

 

Financial Data

 

 

Financials in:

EUR(mil)

 

Revenue:

48.7

Assets:

21.1

Current Assets:

14.4

 

Fixed Assets:

6.7

 

Total Liabilities:

21.1

 

Issued Capital:

17.4

 

Net Worth:

17.4

 

 

 

Date of Financial Data:

30-Sep-2011

 

1 Year Growth

NA

NA

 

 

Executives Report

 

 



 

Board of Directors

 

Name

Title

Function

 

Luc Verbeeck

 

Chairman

Chairman

 

 

Executives

 

Name

Title

Function

 

Inga Verbeeck

 

Chief Executive Officer

Chief Executive Officer

 

Johan Caspers

 

Administrator

Administration Executive

 

Jan Willemse

 

Chief Financial Officer

Finance Executive

 

Andre Camiel Leon Gilbert Clybouw

 

Representative/Auditor

Accounting Executive

 

Mario Alfons Maria Van Gasse

 

Decision-maker, Shareholders' Representative

Shareholder Relations Executive

 

Ali El Bouazzaoui

 

Decision-maker

Other

 

Frank Maassen

 

Decision-maker

Other

 

Sarah Van Roeyen

 

Decision-maker

Other

 

 

 

Annual Profit & Loss

 

 

 

 

30-Sep-2011

30-Sep-2010

30-Sep-2009

Period Length

52 Weeks

52 Weeks

52 Weeks

Filed Currency

EUR

EUR

EUR

Exchange Rate (Period Average)

0.717768

0.740255

0.73971

Consolidated

No

No

No

 

 

 

 

    Turnover

67.8

27.8

99.7

    Other Operating Income

0.1

0.7

1.3

Operating Income

67.9

28.5

101.0

        Purchases

65.4

21.1

64.1

        Increase or Decrease in Stocks

-4.9

6.3

29.1

    Raw Materials, Consumables, and Goods for Release

60.6

27.4

93.3

    Services and Sundry Goods

6.4

6.0

11.3

    Remuneration, Social Security Charges, and Pensions

2.9

3.2

5.1

    Depreciation of and Other Amounts Written Off of Formation Expense, Intangible and Tangible Fixed Assets

3.2

2.9

1.0

    Increase or Decrease in Amounts Written Off Stocks, Orders, and Trade Debtors

0.5

1.4

0.5

    Provisions for Liabilities and Charges

-0.1

0.1

-

    Other Operating Charges

0.1

0.5

7.4

    Operating Charges Posted to Assets as Restructured Expenses

-

-0.1

-10.5

Operating Charges

73.5

41.3

108.1

    Income From Current Assets

0.0

0.0

0.0

    Other Financial Income

0.4

0.1

0.0

Financial Income

0.4

0.1

0.0

    Interest and Other Debt Charges

2.2

1.7

4.9

    Amounts Written Off on Current Assets

0.3

0.1

-

    Other Financial Charges

0.9

1.2

2.5

Financial Charges

3.3

3.0

7.4

    Gain on Disposal of Fixed Assets

0.0

0.1

0.0

    Other Extraordinary Income

0.1

0.2

1.3

Extraordinary Income

0.1

0.2

1.3

    Depreciation of and Other Amounts Written Off Formation Expenses, Intangible, and Tangible Fixed Assets

0.8

-

-

    Provisions for Extraordinary Liabilities and Charges

1.4

-

-

    Loss on Disposal of Fixed Assets

-

0.4

0.1

    Other Extraordinary Charges

0.1

1.6

1.1

Extraordinary Charges

2.2

1.9

1.1

    Income Taxes

-

-

0.1

    Adjustment of Income Taxes and Write-Back of Tax Provisions

-

-

0.0

Income Taxes

-

-

0.1

        From Capital and Share Premium Account

13.2

-

-

    Transfers From Capital and Reserves

13.2

-

-

    Employees

17

21

22


Annual Balance Sheet

 

 

 

Financials in: USD (mil)

 

 

 

30-Sep-2011

30-Sep-2010

30-Sep-2009

Filed Currency

EUR

EUR

EUR

Exchange Rate

0.745323

0.732493

0.684135

Consolidated

No

No

No

 

 

 

 

    Formation Expenses

7.7

10.4

11.3

    Intangible Assets

0.4

0.7

0.7

        Land & Buildings

0.3

0.3

0.4

        Plant, Machinery, and Equipment

0.3

0.3

0.4

        Furniture and Vehicles

0.0

0.0

0.2

        Other Tangible Assets

-

0.8

1.2

    Tangible Assets

0.6

1.4

2.1

        Shares

-

-

0.0

        Amounts Receivable and Cash Guarantees

0.4

0.4

0.5

        Other Capital Assets

0.4

0.4

0.5

    Capital Assets

0.4

0.4

0.5

Fixed Assets

9.0

12.8

14.7

        Goods Purchased for Resale

8.6

4.1

11.6

        Advance Payments

2.3

1.4

-

        Stocks

10.9

5.5

11.6

    Inventory and Orders in Progress

10.9

5.5

11.6

        Trade Debtors

7.2

2.0

8.3

        Other Amounts Receivable

0.3

0.4

1.2

    Amounts Receivable Within One Year

7.6

2.4

9.5

    Liquid Assets

0.5

0.7

5.2

    Adjustment Accounts

0.3

0.3

0.5

Current Assets

19.3

8.9

26.8

Total Assets

28.3

21.7

41.5

        Issued Capital

23.3

18.3

7.9

    Capital

23.3

18.3

7.9

        Legal Reserve

0.1

0.1

0.1

        Other

0.0

0.0

0.0

        Reserves Not Available for Distribution

0.0

0.0

0.0

        Untaxed Reserves

0.1

0.1

0.1

    Reserves

0.2

0.2

0.2

        Other Liabilities and Charges

1.3

0.1

-

        Provisions for Liabilities and Charges

1.3

0.1

-

    Provisions and Deferred Taxes

1.3

0.1

-

Capital and Reserves

2.4

-5.6

1.2

        Subordinated Loans

-

13.0

5.8

        Credit Institutions

6.7

6.8

0.1

        Financial Debts

6.7

19.8

6.0

        Suppliers

0.1

0.2

-

        Trade Debts

0.1

0.2

-

    Amounts Due After More Than One Year

6.8

20.0

6.0

        Current Portion of Amounts Payable After More Than One Year

0.7

2.9

25.7

        Credit Institutions

12.6

0.1

4.6

        Financial Debts

12.6

0.1

4.6

        Suppliers

2.1

2.6

3.1

        Trade Debts

2.1

2.6

3.1

        Advances Received on Orders in Progress

0.1

0.2

-

        Taxes

-

0.1

-

        Remuneration and Social Security

0.3

0.5

0.3

        Taxes, Wages, and Social Security

0.3

0.7

0.3

    Amounts Payable Within One Year

15.8

6.5

33.7

    Adjustment Accounts

2.0

0.6

0.7

Creditors

24.6

27.2

40.4

Total Liabilities + Shareholders' Equity

28.3

21.7

41.5

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.56.42

UK Pound

1

Rs.87.37

Euro

1

Rs.69.95

 

 

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%)

 

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.