MIRA INFORM REPORT

 

 

Report Date :

22.06.2012

 

IDENTIFICATION DETAILS

 

Correct Name :

NIMA BED LINEN S.A.

 

 

Formerly Known As :

NIMA LTD

 

 

Registered Office :

48 Panagias Myrovlitissas & A. Vlachou, 13671 Acharnes, Attiki

 

 

Country :

Greece

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

06.10.2011

 

 

Legal Form :

Societe Anonyme 

 

 

Line of Business :

Manufacturer textile goods

 

 

No. of Employees :

15

 

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

 

Nima Bed Linen S.A.

 

 

IDENTIFICATION DETAILS

                       

FORMER NAME:                      NIMA LTD

ADDRESS:                             48 PANAGIAS MYROVLITISSAS & A. VLACHOU                   

                                              13671 ACHARNES                                           

                                              ATTIKI                                                   

                                              GREECE                                                   

 

TELEPHONE:                         30  2102468111                                           

TELEFAX:                               30  2102445191                                           

E-MAIL ADDRESS:                 nima@otenet.gr                                            

WEB ADDRESS:                    www.nima.gr                                                 

 

ANY AMOUNTS HEREAFTER ARE IN EURO UNLESS OTHERWISE STATED 
 
 

SENIOR COMPANY PERSONNEL

 

Emmanouil George Papazoglou
chief executive
shareholder
 
George Nikolaos Skourtaniotis
vice-chairman
 
Nikolaos George Skourtaniotis
chairman
shareholder

 

 

WORKFORCE

 

EMPLOYS: 15 as at Apr 27, 2012 
The number of employees varies according to needs.

 

PAYMENTS

 

Informants report that subject's payments are prompt.

 

 

BANKERS

 

Alpha Bank A.E., Menidi Branch branch., 172 Aristotelous, Acharnes
13671, Greece.
Telephone: 30 2102407005
National Bank of Greece S.A., Menidi Branch branch., 4 Salaminos,
 
Acharnes 13671, Greece.
Telephone: 30 2102404500
 
Emporiki Bank, Nea Ionia Branch branch., 23 A. Kalvou, Nea Ionia 14231, Greece.
Telephone: 30 2102799564
 

 

FINANCIALS

 

FINANCES 
                       Fiscal           Fiscal          Fiscal
                     Dec 31,2009      Dec 31,2010     Dec 31,2011
Turnover              6,797,546        4,991,471       3,958,900
Pre-Tax Profit          913,551          534,739         213,148
Net Worth             1,910,375        2,206,944       2,361,895
Fixed Assets          1,945,301        1,743,184       1,651,685
Total Assets          7,833,774        7,264,622       6,452,196
Current Assets        5,882,523        5,515,487       4,796,461
Current Liabilities   5,466,982        4,753,775       3,938,912
Working Capital         415,541          761,712         857,549
Long Term Debt          456,417          303,903         151,390
Financial Assets          5,951            5,951           4,051
Intangibles                   0                0               1
Employees                    30               30              20
 

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)             1.08             1.16            1.22
Solvency Ratio (%)            410.06           329.17          273.18
Fixed Assets/Net Worth (%)    101.83            78.99           69.93
Current Liabs/Net Worth (%)   286.17           215.40          166.77
Asset Turnover (%)            86.77            68.71           61.36
Sales / Net Working Cap (X)   16.36             6.55            4.62
Assets / Sales (%)            115.24           145.54          162.98
Profit Margin (%)             13.44            10.71            5.38
S/holders Return (%)          47.82            24.23            9.02
Return On Assets (%)          11.66             7.36            3.30
Sales / Employees         226,584.87       166,382.37      197,945.00
Profit / Employees         30,451.70        17,824.63       10,657.40
 
     Abstract from individual fiscal balance sheet as at Dec 31, 2011 
 
             LIABILITIES                             ASSETS                        
Capital                      1,633,260   Land/Buildings     3,180,055
Retained Profits               428,943   Plant/Machinery      158,902
Misc Reserves                  299,691   Depreciation       1,687,272
Net Worth                    2,361,894   Total Fixed Ass    1,651,685
 
Misc Def Liabs                 151,390   Misc Fin'cl Ass        4,051
                                         Total Fin'cl Ass       4,051
 
                                         Misc Intangible            1
                                         Total Intangible           1
 
     CURRENT LIABILITIES:                         CURRENT ASSETS:               
Trade Creditors                 73,557   Stock              2,162,985
Short term Loans             2,939,483   Trade Debtors      2,430,057
Proposed Dividends             759,442   Misc Debtors          14,233
Misc Current Liabs             166,430   Cash                 189,184
 
TOTAL CURRENT                3,938,912   TOTAL CURRENT      4,796,459
 
TOTAL LIABS & NW             6,452,196   TOTAL ASSETS       6,452,196
 
             Profit & Loss Account from Sep 24, 2011 to Dec 31, 2011               
 
             Net Sales                             3,958,900
             Cost of Goods Sold                    2,459,988
 
             Gross Profit                          1,498,912
             Misc Operating Charges                1,028,310
             Misc Operating Income                    17,219
 
             Net Operating Income                    487,821
             Misc Financial Income                     2,582
             Total Financial Income                    2,582
 
             Interest Payable                        257,023
             Misc Financial Expenses                  20,233
             Total Financial Expenses                277,256
 
             Profit Before Taxes                     213,147
             Income Tax                               58,197
 
             Profit After Tax                        154,950
 
             Net Profit                              154,950

 

 

LEGAL STATUS

 

STARTED:                    2011

YEAR INC:                    2011

LEGAL FORM:              SOCIETE ANONYME 

GOVT GAZ NO: 10603 / 2011 

SIC:                              2299 5131

REGISTERED OFFICE: At heading address. 
 
 
Business started Oct 6, 2011.
 
Subject moved from 128 Idomeneos & 2 G. Stratou, 13123 Ilion Attiki on Dec 20, 2004.
 
Societe anonyme registered on Oct 6, 2011 for a period ending Dec 31, 2061.
 
Government Gazette Number: 10603 / 2011
 
Chamber of Commerce Number: 240723
 
Tax Registration Number: 095267656
 
Subject's name was changed from 'NIMA LTD'.
 

On 17/2/1999 (Gov. Gaz. No. 00932/1999) a change of subject's head office was published. On 22/8/2000 (Gov. Gaz. No. 07861/2000) a change of subject's head office was published. On 22/12/2004 (Gov. Gaz. No. 14969/2004) a change of subject's head office was published. Established following a change of the legal status of a firm originally founded in 1985.

 

SUPPLEMENTARY DATA ON THE ABOVEMENTIONED EVENTS PUBLISHED IN THE GOV.GAZ.: According to the Gov.Gaz.No.: 10603/2011 subject was established following the change in the legal status of the firm NIMA LTD which was established in 1985 in Ilion, Attiki (75 Krissis & Amfitritis). On 17.2.1999, subject had transferred its head office at 47 Karamanli Ave., Acharnes and on 1.7.2000 to 128 Idomeneos & 2 G. Stratou, Ilion.

 

 

CAPITAL DETAILS

 

Nominal capital: 1,633,260. Issued capital: 1,633,260.
Issued/paid-up capital was last increased on Oct 20, 2010.
 
Nominal capital is divided into:
54,442 shares of 30 each and fully paid-up.
 

SHAREHOLDERS

     
Emmanouil Papazoglou holds 50.00% of the voting capital.
Nikolaos Skourtaniotis holds 50.00% of the voting capital.
 
 

ACTIVITIES

 

Local Activity Code:                 1392                                           
Local Activity Code Type:         STAKOD                                         
Equivalent to:                          NACE 1                                         
 
Subject produces the following brand(s):
NIMA
 
Manufactures textile goods
Wholesales piece goods and notions

 

Mfg, imports and wholesale trade of white linen, Subject's customers are 1,800 firms.

 

 

IMPORTS

 

Imports 70% from China, India, Pakistan
Normal importing terms are cash against documents

 

 

EXPORTS

 

Exports 1% to Albania, Cyprus 
Normal exporting terms are cash against documents

 

 

PREMISES / REAL ESTATE

 

Operates from owned factory, at heading address.

 

 

GENERAL COMMENTS  

 
The below mentioned financial figures are in Euro
 
Financial statement obtained from subject on Jun 7, 2012.
 
On Jun 19, 2012 subject confirmed general details in this report.
 

According to the Gov.Gaz.No.: 10603/2011 subject was established following the change in the legal status of the firm NIMA LTD which was established in 1985 in Ilion, Attiki (75 Krissis & Amfitritis). On 17.2.1999, subject had transferred its head office at 47 Karamanli Ave., Acharnes and on 1.7.2000 to 128 Idomeneos & 2 G. Stratou, Ilion.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.56.42

UK Pound

1

Rs.88.45

Euro

1

Rs.71.52

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

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.