MIRA
INFORM REPORT
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Report Date : |
30.06.2012 |
IDENTIFICATION DETAILS
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Name : |
MIKAEL |
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Registered Office : |
18 Rue Reaumur, Paris, 75003 |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
15.08.1987 |
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Com. Reg. No.: |
342561842 |
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Legal Form : |
Public Independent Company |
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Line of Business : |
wholesale of furniture Wholesale of jewellery |
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No. of Employees : |
10 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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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
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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France |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company name & address
Mikael
18 Rue Reaumur
Paris, 75003
France
Tel: +33 01 42 71 35 58
Fax: +33 01 42 71 93 10
Synthesis
Employees: 10
Company Type: Public
Independent
Incorporation Date:
15-Aug-1987
Financials in: USD
(Millions)
Fiscal Year End: 31-Dec-2010
Reporting Currency: Euro
Annual Sales: 7.4
Total Assets: 11.6
Business Description
Mikael is primarily engaged in wholesale of furniture; wholesale of jewellery; wholesale of musical instruments; wholesale of photographic goods; wholesale of toys and games; wholesale of travel and fancy goods; and wholesale of other household goods not elsewhere classified.
Industry
Industry Miscellaneous Capital Goods
ANZSIC 2006: 3739 - Other Goods
Wholesaling Not Elsewhere Classified
NACE 2002: 5147 - Wholesale
of other household goods
NAICS 2002: 4232 - Furniture
and Home Furnishing Merchant Wholesalers
UK SIC 2003: 5147 - Wholesale
of other household goods
US SIC 1987: 5199 - Nondurable
Goods, Not Elsewhere Classified
Key Executives
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Name |
Title |
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Missa Boukhris - Kohen |
Chairman of the Board |
News
|
Title |
Date |
|
Finnish Court Passes Suspended Sentence on
Kavkaz-Tsentr Website Chief Editor |
27-Jun-2012 |
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Range of bikes still produced |
27-Jun-2012 |
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Swedish retail giant has grand designs on
India |
23-Jun-2012 |
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US T-System buys coding specialist Marina
Medical |
22-Jun-2012 |
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IKEA plans to invest 1.9 billion dollars
in India |
22-Jun-2012 |
Registered No.(FRA): 342561842
1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7550783
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7454064
Corporate Overview
Location
18 Rue Reaumur
Paris, 75003
France
Tel: +33 01 42 71 35 58
Fax: +33 01 42 71 93 10
Sales EUR(mil): 5.6
Assets EUR(mil): 8.6
Employees: 10
Fiscal Year End: 31-Dec-2010
Industry: Miscellaneous
Capital Goods
Incorporation Date: 15-Aug-1987
Company Type: Public
Independent
Quoted Status: Not
Quoted
Registered No.(FRA): 342561842
Chairman of the Board: Missa
Boukhris - Kohen
Contents
Industry Codes
Business Description
Financial Data
Key Corporate Relationships
Industry Codes
ANZSIC 2006 Codes:
3739 - Other Goods Wholesaling Not Elsewhere Classified
NACE 2002 Codes:
5147 - Wholesale of other household goods
NAICS 2002 Codes:
4232 - Furniture and Home Furnishing Merchant Wholesalers
US SIC 1987:
5199 - Nondurable Goods, Not Elsewhere Classified
UK SIC 2003:
5147 - Wholesale of other household goods
Business Description
Mikael is primarily engaged in wholesale of furniture; wholesale of jewellery; wholesale of musical instruments; wholesale of photographic goods; wholesale of toys and games; wholesale of travel and fancy goods; and wholesale of other household goods not elsewhere classified.
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Executive report
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Board
of Directors |
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Chairman of the Board |
Chairman |
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Annual Profit & Loss
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31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
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Period Length |
12 Months |
12 Months |
12 Months |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate
(Period Average) |
0.755078 |
0.719047 |
0.683679 |
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Consolidated |
No |
No |
No |
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Total income |
7.4 |
6.6 |
10.2 |
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Net sales |
7.4 |
6.6 |
10.2 |
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Change in stock |
0.2 |
0.3 |
- |
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Subsidies for operating costs |
0.0 |
0.0 |
0.0 |
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Supplementary operating income |
0.0 |
0.0 |
0.0 |
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Other operating income |
0.0 |
0.0 |
0.0 |
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Other external charges |
0.5 |
0.5 |
0.6 |
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Cost of goods sold |
5.6 |
4.5 |
8.4 |
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Taxes and social security costs |
0.0 |
0.1 |
0.1 |
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Social charges |
0.2 |
0.2 |
0.2 |
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Total payroll costs |
0.5 |
0.5 |
0.5 |
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Cost of stock depreciation and
amortisation |
0.2 |
0.0 |
0.1 |
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Fixed asset depreciation and amortisation |
0.1 |
0.1 |
0.1 |
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Other operating costs |
0.0 |
0.1 |
0.0 |
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Total operating
costs |
7.2 |
6.3 |
9.5 |
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Net operating
income |
0.3 |
0.3 |
0.7 |
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Total financial
income |
0.0 |
0.2 |
0.1 |
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Interest payable on loans |
0.1 |
0.1 |
0.2 |
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Other expenses |
0.0 |
0.1 |
0.1 |
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Total expenses |
0.1 |
0.2 |
0.3 |
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Profit before tax |
0.2 |
0.3 |
0.5 |
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Extraordinary income |
0.0 |
0.1 |
0.0 |
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Extraordinary expenses |
0.1 |
0.1 |
0.0 |
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Total taxation |
0.1 |
0.1 |
0.1 |
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Net profit |
0.0 |
0.2 |
0.3 |
Annual Balance
Sheet
Financials in: USD (mil)
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31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate |
0.745406 |
0.696986 |
0.719399 |
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Consolidated |
No |
No |
No |
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Issued capital |
0.3 |
0.3 |
0.3 |
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Total reserves |
0.0 |
0.0 |
0.0 |
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Profits for the year |
0.0 |
0.2 |
0.3 |
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Profit brought forward from previous
year(s) |
3.8 |
3.8 |
3.4 |
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Total
stockholders equity |
4.1 |
4.4 |
4.0 |
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Provisions and allowances |
0.1 |
0.0 |
0.1 |
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Trade creditors |
1.2 |
1.0 |
1.7 |
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Bank loans and overdrafts |
2.4 |
2.7 |
2.8 |
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Current bank debts |
1.2 |
1.2 |
1.1 |
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Other loans |
3.4 |
3.7 |
3.6 |
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Other liabilities |
0.0 |
0.1 |
- |
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Taxation and social security |
0.3 |
0.2 |
0.4 |
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Total current
liabilities |
3.0 |
3.0 |
3.6 |
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Total debts |
7.3 |
7.8 |
8.5 |
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Regularisation account |
0.0 |
0.0 |
0.0 |
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Total
liabilities (including net worth) |
11.6 |
12.2 |
12.6 |
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Patents |
0.0 |
- |
0.0 |
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Goodwill |
0.6 |
0.6 |
0.6 |
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Other fixed assets |
0.1 |
0.1 |
0.2 |
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Other financial assets |
0.0 |
0.0 |
0.0 |
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Total non-current
assets |
0.7 |
0.7 |
0.8 |
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Prepayments |
0.0 |
- |
- |
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Net stocks and work in progress |
3.5 |
3.9 |
4.1 |
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Trade debtors |
6.1 |
6.6 |
7.0 |
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Other receivables |
0.1 |
0.1 |
0.0 |
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Prepaid expenses |
0.0 |
0.0 |
0.0 |
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Cash and liquid assets |
1.0 |
0.7 |
0.7 |
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Marketable securities |
0.0 |
0.0 |
0.0 |
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Total current
assets |
10.9 |
11.4 |
11.8 |
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Prepaid expenses and deferred costs |
0.0 |
0.0 |
0.1 |
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Total assets |
11.6 |
12.2 |
12.6 |
Annual Ratios
Financials in: USD (mil)
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|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
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Period Length |
12 Months |
12 Months |
12 Months |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate |
0.745406 |
0.696986 |
0.719399 |
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Consolidated |
No |
No |
No |
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Current ratio |
3.60 |
3.80 |
3.30 |
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Quick ratio |
2.50 |
2.50 |
2.20 |
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Total liabilities to net worth |
2.04% |
2.06% |
2.53% |
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Net worth to total assets |
0.31% |
0.31% |
0.27% |
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Collection period |
247.50 |
295.90 |
218.50 |
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Stock turnover rate |
2.10 |
1.70 |
2.40 |
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Asset turnover |
0.65% |
0.56% |
0.77% |
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Profit margin |
0.03% |
0.05% |
0.05% |
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Return on assets |
0.02% |
0.03% |
0.04% |
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Shareholders' return |
0.06% |
0.09% |
0.13% |
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Sales per employee |
3,672.94 |
2,580.51 |
3,522.70 |
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Profit per employee |
107.68 |
126.58 |
159.01 |
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Average wage per employee |
233.75 |
203.20 |
185.46 |
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Net worth |
4.1 |
4.4 |
4.0 |
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Number of employees |
10 |
12 |
13 |
DIAMOND INDUSTRY –
INDIA
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From time immemorial, India is well known in the world
as the birthplace for diamonds. It is difficult to trace the origin of
diamonds but history says that in the remote past, diamonds were mined only in
India. Diamond production in India can be traced back to almost 8th
Century B.C. India, in fact, remained undisputed leader till 18th
Century when Brazilian fields were discovered in 1725 followed by emergence of
S. Africa, Russia and Australia.
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The achievement of the Indian diamond industry was
possible only due to combination of the manufacturing skills of the Indian
workforce and the untiring and unflagging efforts of the Indian diamantaires,
supported by progressive Government policies.
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The area of study of family owned diamond businesses
derives its importance from the huge conglomerate of family run organizations
which operate in the diamond industry since many generations.
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Some of the basic traits of family run business
enterprises include spirit of entrepreneurship, mutual trust lowers transaction
costs, small, nimble and quick to react, information as a source of advantage
and philanthropy.
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Family owned diamond businesses need to improve on
many fronts including higher standard of corporate governance, long-term
performance – focused strategies, modern management and technology.
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The diamond jewellery industry in India today may be
more than Rs 60000 mil and is rated amongst the fastest growing in the
world. Indi ranks third in the world in domestic diamond consumption.
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Utmost caution is to be exercised while dealing with
some medium and large diamond traders which are usually engaged in fictitious
import – export, inter-company transactions, financially assisted by banks. In
the process, several public sector banks lost several hundred million rupees.
They mostly diverted borrowed money for diamond business into real estate and
capital markets.
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Excerpts from Times of India dated 30th
October 2010 is as under –
DIAMOND SAGA – DIRTY DOZEN STUCK WITH 2K CR DEBT
This could be the biggest credibility crisis
the Indian diamond industry has ever faced. Fifteen banks run the risk of
losing Rs 2000 crore lent to a dozen diamond firms in Surat. Until about two
months ago, they had not repaid these dues. Bankers believe many
diamantaires borrowed money during the economic downturn two years ago and
diverted funds to businesses like real estate and capital markets. Many of
themselves made money from these businesses but their diamond companies have
gone sick and declared insolvency.
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Most of the money borrowed from the banks in the name
of their diamond business has been diverted in real estate and the share
market. The banks are not in a position to seize their properties because in
many cases, these were purchased in the name of their relatives and friends.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.56.31 |
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UK Pound |
1 |
Rs.88.06 |
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Euro |
1 |
Rs.70.91 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.