MIRA
INFORM REPORT
|
Report Date : |
17.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
EMBALAJES MULTIPLES SA |
|
|
|
|
Registered Office : |
Calle Misericordia (Pol. Ind. El Calvario), 18 28864 Ajalvir Madrid |
|
|
|
|
Country : |
Spain |
|
|
|
|
Financials (as on) : |
31.12.2009 |
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|
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|
Date of Incorporation : |
08.08.1986 |
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|
Legal Form : |
Joint-Stock Company |
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|
Line of Business : |
Wholesale Trade in Industrial Products Plastic Packaging. |
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|
No. of Employees : |
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 |
|
Maximum Credit Limit : |
94.000,00 € |
|
Status : |
Good |
|
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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
Spain |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Company name
EMBALAJES MULTIPLES SA
CIF/NIF: A02047843
Company situation: Active
EXECUTIVE SUMMARY
Identification
Current Business Name: EMBALAJES MULTIPLES SA
Other names: YES
Current Address: CALLE MISERICORDIA (POL. IND. EL
CALVARIO), 18
Branches: 1
Telephone number: 913010794 Fax: 913010763
URL: www.embalajesmultiples.com
Corporate e-mail: embaples@embalajesmultiples.com
Trade Risk
Credit appraisal: 94.000,00 €
Incidents: NO
R.A.I.: NO
Financial Information
Latest sales known (2011): 4.191.855.094,00
€ (Own Sources)
Balance sheet latest sales (2009): 3.746.976,11 € (Commercial Registry)
Result: 182.472,92 €
Total Assets: 2.195.101,04 €
Share capital: 62.624,20 €
Employees: 5
Listed on a Stock Exchange: NO
Commercial Information
Incorporation date: 08/08/1986
Activity: Wholesale of other products
NACE 2009 CODE: 4690
International Operations: Imports
Corporate Structure
President:
Other Complementary Information
Latest filed accounts in the Commercial Registry: 2009
Latest act published in BORME: 14/11/2011 Re-elections
Latest press article: 13/01/2001 DIARIO 16 (LEGAL
ANNOUNCEMENTS)
Bank Entities: There are
The date when this report was last updated is 16/03/2012.
The information contained in this report has been investigated and
contrasted on 16/03/2012
TRADE RISK
Credit appraisal
Maximum Credit
(from 0 to
6,000,000 €)
Favourable to 94.000,00 €
Rating Explication
Financial Situation
•
The company’s financial situation is good.
•
The sales evolution has been positive.
Company Structure
•
The company’s capitalization degree determines that
its structure is normal.
•
The company’s size is big depending on
its sales volume.
•
The employees evolution has been positive.
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 |
|
16/03/2012 |
Increase |
16 |
•
There has been a variation in the risk associated
to the activity sector of the company. |
|
01/01/2012 |
Equal |
15 |
•
There has been a variation in the risk associated
to the activity sector of the company. |
|
31/12/2011 |
Reduction |
15 |
•
New information has been loaded on our systems. |
Summary
LEGAL ACTIONS: No legal actions
ADMINISTRATIVE CLAIMS: No administrative claims
AFFECTED BY: No significant element.
R.A.I.
COMPANY NOT REGISTERED IN THE R.A.I.
This company is not registered in the Disputed Bills register (R.A.I.)
DATE AND TIME OF THE CONSULTATION
12/03/2012 08:03:36
Information from the Registro de Aceptaciones Impagados (RAI)- Disputed
Bills register.
It can only be used for information legitimate needs of the consulting
party, in accordance with its social or business activity, in order to grant a
credit or the monitoring or control of the already granted credits and can not
be transmitted or communicated to thirds, nor copied, duplicated, reproduced
nor implemented to any database , owned or external, or reused it in anyway,
direct or indirectly.
FINANCIAL ELEMENTS AND SECTORIAL COMPARATIVE
FINANCIAL ELEMENTS
The shaded amounts in the following financial statements have
been converted to the norms established in the PGC2007 derived from RD
1514/2007 and 1515/2007, this way comparatives could be shown with the amounts of exercises
initiated from 1/01/08.
Figures given in €
|
|
31/12/2009 (12) BALANCE SHEET |
% ASSETS |
31/12/2008 (12) BALANCE SHEET |
% ASSETS |
31/12/2007 (12) BALANCE SHEET |
% ASSETS |
|
ASSETS |
|
|
|
|
|
|
|
A) NON CURRENT ASSETS |
542.871,66 |
24,73 |
583.117,98 |
21,12 |
618.159,08 |
11,26 |
|
B) CURRENT ASSETS |
1.652.229,38 |
75,27 |
2.178.136,73 |
78,88 |
4.870.306,41 |
88,74 |
|
LIABILITIES |
|
|
|
|
|
|
|
A) NET WORTH |
1.325.346,30 |
60,38 |
1.142.873,38 |
41,39 |
1.112.347,62 |
20,27 |
|
B) NON CURRENT LIABILITIES |
300.796,18 |
13,70 |
329.316,05 |
11,93 |
350.421,37 |
6,38 |
|
C) CURRENT LIABILITIES |
568.958,56 |
25,92 |
1.289.065,28 |
46,68 |
4.025.696,50 |
73,35 |
Profit and Loss Account Analysis
Figures given in €
|
|
2011 OWN SOURCES |
31/12/2009 (12) BALANCE SHEET |
% NET TURNOVER |
31/12/2008 (12) BALANCE SHEET |
% NET TURNOVER |
|
SALES |
4.191.855.094,00 |
3.746.976,11 |
|
7.965.793,01 |
|
|
GROSS MARGIN |
|
703.816,57 |
18,78 |
698.970,20 |
8,77 |
|
EBITDA |
|
325.475,79 |
8,69 |
217.524,78 |
2,73 |
|
EBIT |
|
286.529,47 |
7,65 |
179.014,64 |
2,25 |
|
NET RESULT |
|
182.472,92 |
4,87 |
30.603,89 |
0,38 |
|
EFFECTIVE TAX RATE (%) |
|
27,62 |
0,00 |
29,96 |
0,00 |
COMPARATIVE SECTOR
ANALYSIS
Values table
Figures expressed in %
|
|
COMPANY (2009) |
SECTOR |
DIFFERENCE |
|
|
|
|
|
BALANCE SHEET ANALYSIS: % on the total
assets |
|
|
|
|
|
|
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|
ASSETS |
|
|
|
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|||
|
A) NON CURRENT ASSETS |
24,73 |
30,90 |
-6,16 |
|
|
|
|
|
A) CURRENT ASSETS |
75,27 |
69,10 |
6,16 |
|
|
|
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LIABILITIES |
|
|
|
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|||
|
A) NET WORTH |
60,38 |
40,56 |
19,82 |
|
|
|
|
|
B) NON CURRENT LIABILITIES |
13,70 |
15,14 |
-1,44 |
|
|
|
|
|
C) CURRENT LIABILITIES |
25,92 |
44,30 |
-18,38 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
COMPANY (2009) |
SECTOR |
DIFFERENCE |
|
|
|
|
|
PROFIT AND LOSS ACCOUNT ANALYSIS: % on the total
operating income |
|
|
|
|
|
|
|
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SALES |
99,95 |
98,79 |
1,16 |
|
|
|
|
|
GROSS MARGIN |
18,77 |
32,26 |
-13,49 |
|
|
|
|
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EBITDA |
8,68 |
5,43 |
3,25 |
|
|
|
|
|
EBIT |
7,64 |
3,61 |
4,03 |
|
|
|
|
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NET RESULT |
4,87 |
1,73 |
3,14 |
|
|
|
|
Sector Composition
Compared sector (NACE 2009): 469
Number of companies: 256
Size (sales figure): 2,800,000.00 - 7,000,000.00 Euros
OTHER DATA FROM THE ANNUAL FINANCIAL REPORT
Results Distribution
Source: annual financial report 2008
Figures given in €
|
DISTRIBUTION BASE |
APPLICATION A |
||
|
Profit and Loss |
30.603,89 |
Legal Reserve |
0,00 |
|
Carry over |
0,00 |
Voluntary Reserve |
30.603,89 |
|
Voluntary reserves |
0,00 |
Prior years losses |
0,00 |
|
Reserves |
0,00 |
Carry over |
0,00 |
|
Other concepts |
0,00 |
Other funds |
0,00 |
|
Total of Amounts to be distributed |
30.603,89 |
Dividends |
0,00 |
|
|
|
Other Applications |
0,00 |
ADDRESSES
Current Legal Seat Address:
CALLE MISERICORDIA (POL. IND. EL CALVARIO), 18
28864 AJALVIR MADRID
Previous Seat Address:
CALLE AIRE 27
28042 MADRID
Characteristics of the current address
Type of establishment: store
Local Situation: secondary
|
STREET |
POSTAL CODE |
TOWN |
PROVINCE |
|
CALLE AIRE, 27 |
28042 |
MADRID |
Madrid |
CORPORATE STRUCTURE
ADMINISTRATIVE LINKS
|
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Distribution of the administration board |
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Governing body : 12 members (latest change:
13/07/2007) Other Positions : 2 (latest change: 02/01/1997) Auditor : 1 (latest change: 28/10/2011) Operative Board Members : 3 (latest change: 20/02/2009) Non-current positions : 1 (latest change: 27/07/2001) |
|
|
Main Board members, Directors and Auditor
Governing body
|
POSITION |
NAME AND SURNAME |
DATE APPOINTMENT |
|
PRESIDENT |
RODENAS RIVERA, PEDRO |
13/07/2007 |
|
MANAGING DIRECTOR |
RODENAS RIVERA, FERNANDO |
13/07/2007 |
|
MANAGING DIRECTOR |
RODENAS RIVERA, FULGENCIO |
13/07/2007 |
|
MANAGING DIRECTOR |
RODENAS RIVERA, MARIA DEL CARMEN |
13/07/2007 |
|
MANAGING DIRECTOR |
RODENAS RIVERA, MARIA DOLORES |
13/07/2007 |
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|
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Auditor
|
POSITION |
NAME AND SURNAME |
DATE APPOINTMENT |
|
AUDITOR |
CUSPIDE AUDITORES SL |
28/10/2011 |
|
POSITION |
NAME AND SURNAME |
|
Manager |
RODENAS RIVERA, PEDRO |
|
Financial Manager |
GARCIA MARIA, TERESA |
|
Marketing Director |
GARCIA MARIA, TERESA |
FINANCIAL LINKS
|
BUSINESS NAME |
TAX NUMBER/COUNTRY |
% |
SOURCE |
DATE REP. |
|
RODENAS RIVERA FERNANDO |
|
20,00 |
OWN SOURCES |
16/03/2012 |
|
RODENAS RIVERA PEDRO |
|
20,00 |
OWN SOURCES |
16/03/2012 |
|
RODENAS RIVERA MARIA DEL CARMEN |
|
20,00 |
OWN SOURCES |
16/03/2012 |
|
RODENAS RIVERA MARIA DOLORES |
|
20,00 |
OWN SOURCES |
16/03/2012 |
|
RODENAS RIVERA FULGENCIO |
|
20,00 |
OWN SOURCES |
16/03/2012 |
|
|
BUSINESS NAME |
TAX NUMBER/COUNTRY |
% |
SOURCE |
DATE REP. |
|
|
GARCIA MARTINEZ MARIA TERESA |
|
4,00 |
COMMERCIAL REGISTRY |
21/01/2008 |
POTENTIAL LINKS
Search for Link by Administrator
Search Criterion: ”PEDRO RODENAS RIVERA”
|
COMPANY |
POSITION |
PROVINCE |
|
RODESOL SL |
Presidente |
ALBACETE |
|
PROMOCIONES RODENAS Y RIVERA HELLIN SL |
Consejero Delegado |
ALBACETE |
|
POLY JUTE SA |
Consejero Delegado |
ALBACETE |
In case you need more information you can request:Board Members
Monitoring
Search Criterion: ”EMBALAJES MULTIPLES SA”
URL: www.embalajesmultiples.com
1st company specializing in stretch film - Stretch Film Packaging Multiple automatic
and manual palletising, manufacture and market polyethylene plastic stretch
wrapping of pallets for the derivative to
...
BUSINESS INFORMATION
Incorporation date: 08/08/1986
Establishment date: 01/01/1986
Founder’s Name: LA TITULAR
Code: 1619900
Activity: Wholesale of other products
NACE 2009 CODE: 4690
NACE 2009 Activity: Non-specialised wholesale trade
Business: MANUFACTURING SALES
MARKETING AND DISTRIBUTION OF YARN FABRICS AND FIBER HARD BAGS, AND COTTON
POLIPROPITENO OR ANY PRODUCT LISTED INCLUDING MIXTURES AND PRODUCTS.
Activity description: WHOLESALE
TRADE IN INDUSTRIAL PRODUCTS PLASTIC PACKAGING.
Latest employees figure: 5 (2012)
% of fixed employees: 100,00%
Employees evolution
|
|
|
|
PURCHASES
Imports from: TODO EL MUNDO
SALES
National Distribution: 100%
SUPPLIERS
|
BUSINESS NAME |
INTERNATIONAL |
|
RÓDENAS &
RIVERA SA |
NO |
CLIENTS
|
BUSINESS NAME |
INTERNATIONAL |
|
HENKEL ECOLAB |
NO |
|
UNIPAPEL |
NO |
|
EL CORTE INGLES |
NO |
|
LA COCINERA |
NO |
|
RÓDENAS &
RIVERA SA |
NO |
|
ENTITY |
BRANCH |
ADDRESS |
TOWN OR CITY |
PROVINCE |
|
BANKINTER, S.A. |
|
|
MADRID |
|
|
CAIXABANK, S.A. |
|
|
ALCOBENDAS |
|
|
KUTXABANK, S.A |
|
|
|
|
FORMER NAMES:
•
TUBOSAC SA
LEGAL STRUCTURE
Constitution Data
Register Date: 08/08/1986
Legal form: Joint-stock Company
Share capital: 62.624,20 €
Paid-up capital: 62.624,20 €
Obligation to fill in Financial Statements: YES
Chamber census: YES (2010)
B.O.R.M.E. (OFFICIAL GAZETTE OF THE COMMERCIAL REGISTRY)
Acts on activity: 1 (Last: 02/01/1997)
Acts on administrators: 11 (Last: 14/11/2011, first:
07/10/1992)
Acts on capital: 2 (Last: 27/07/2001, first:
02/01/1997)
Acts on creation: 0
Acts on filed accounts: 21 (Last: 22/10/2010, first:
19/10/1990)
Acts on identification: 3 (Last: 27/07/2001, first:
02/01/1997)
Acts on Information: 2 (Last: 07/10/1992, first:
07/10/1992)
Latest acts in B.O.R.M.E.
Other acts
|
ACT |
DATE |
NOTICE NUM. |
COMMERCIAL REGISTRY |
|
Re-elections |
14/11/2011 |
449886 |
Madrid |
|
Annual Filed Accounts (2009) |
22/10/2010 |
877444 |
Madrid |
|
Annual Filed Accounts (2008) |
15/01/2010 |
36435 |
Madrid |
|
Re-elections |
20/01/2009 |
28975 |
Madrid |
|
Annual Filed Accounts (2007) |
06/11/2008 |
1056320 |
Madrid |
|
Annual Filed Accounts (2006) |
07/02/2008 |
62254 |
Madrid |
|
Appointments |
23/01/2008 |
34371 |
Madrid |
|
Re-elections |
13/07/2007 |
374723 |
Madrid |
|
Annual Filed Accounts (2005) |
24/01/2007 |
88072 |
Madrid |
|
Annual Filed Accounts (2004) |
30/01/2006 |
44168 |
Madrid |
Press summary by type of information (last five years)
Legal notices: 0
Structural Data: 0
Informative data: 0
Financial Information: 0
Negative information: 0
Business lines: 0
Historical press releases: 2 (Last: 13/01/2001, first:
03/10/1996)
Latest press article published
13/01/2001 DIARIO 16 - LEGAL ANNOUNCEMENTS
EN JUNTA GRAL. DE ACCIONISTAS
CELEBRADA EL 05/12/00 SE ACORDO TRASLADAR EL DOMICILIO SOCIAL A AJALVIR (MADRID),
CALLE MISERICORDIA, 18.
03/10/1996 EXPANSIÓN - LEGAL
ANNOUNCEMENTS
LA JUNTA GRAL. EXTRAORDINARIA
Y UNIVERSAL DE ESTA SDAD. EN SU REUNION DE FECHA 21 DE SEPTIEMBRE DE 1996,
ACORDO CAMBIAR LA DENOMINACION SOCIAL DE TUBOSAC, S.A. POR EMBALAJES MULTIPLES,
S.A. SE TRASLADA EL DOMICILIO SOCIAL A MADRID, C/ LA RIOJA, N. 13, ESCALERA
IZQUIERDA, N. 2-C. ASIMISMO SE MODIFICA Y AMPLIA EL OBJETO SOCIAL EN LOS
SIGUIENTES TERMINOS: FABRICACION, COMPRAVENTA, COMERCIALIZACION Y DISTRIBUCION
DE HILADOS, TEJIDOS Y SACOS DE FIBRAS DURAS, POLIPROPITENO Y ALGODON, O DE
CUALQUIER OTRO PRODUCTO INDICADO, INCLUYENDOSE SUS MEZCLAS Y DERIVADOS;
FABRICACION, COMPRAVENTA, COMERCIALIZACION Y DISTRIBUCION DE PRODUCTOS EN PAPEL
Y CARTON.
Complementary Information
Activity
Objeto Social: Fabricación y distribución de film estirable de
polietileno y otros plásticos para embalaje industrial
FINANCIAL INFORMATION
The information on the last Individual Filed Accounts contained in this
report is extracted from the Commercial Registry file of the legal address of
the Company and dated 16/12/2010.
The shaded amounts in the following financial statements have been converted to the norms established in the PGC2007 derived from RD 1514/2007 and 1515/2007, this way comparatives could be shown with the amounts of exercises initiated from 1/01/08.
This theoretical conversion exercise has been carried out from the financial statements contained in the accounting information presented on the Commercial Registry, and elaborated under the accounting norms and principles collected in PGC90 derived from RD 1643/1990, not taking into account any other type of information; for this reason the conversion exercise could include certain inaccuracies.
SITUATION BALANCE-SHEET
Assets
Figures given in €
|
|
31/12/2009 (12) |
% ASSETS |
31/12/2008 (12) |
% ASSETS |
31/12/2007 (12) |
% ASSETS |
|
A) NON CURRENT ASSETS |
542.871,66 |
24,73 |
583.117,98 |
21,12 |
618.159,08 |
11,26 |
|
I. Intangible assets |
|
|
|
|
0,00 |
0,00 |
|
II. Tangible fixed assets |
542.566,66 |
24,72 |
582.812,98 |
21,11 |
618.159,08 |
11,26 |
|
1. Property, plant and equipment |
|
|
497.589,71 |
18,02 |
|
|
|
2. Technical fittings and other tangible
assets |
|
|
85.223,27 |
3,09 |
|
|
|
III. Real-estate investments |
|
|
|
|
|
|
|
IV. Long term investments in associated
and affiliated companies |
|
|
305,00 |
0,01 |
|
|
|
1. Net worth instruments |
|
|
305,00 |
0,01 |
|
|
|
V. Long Term Financial Investments |
305,00 |
0,01 |
|
|
|
|
|
VI. Assets by deferred taxes |
|
|
|
|
|
|
|
VII. Non current commercial debts |
|
|
|
|
|
|
|
B) CURRENT ASSETS |
1.652.229,38 |
75,27 |
2.178.136,73 |
78,88 |
4.870.306,41 |
88,74 |
|
I. Non-current assets maintained for sale |
|
|
|
|
|
|
|
II. Stocks |
188.340,04 |
8,58 |
273.432,70 |
9,90 |
793.825,69 |
14,46 |
|
1. Goods available for sale |
|
|
189.862,30 |
6,88 |
|
|
|
6. Pre-payments to suppliers |
|
|
83.570,40 |
3,03 |
|
|
|
III. Trade Debtors and other receivable accounts |
1.247.787,54 |
56,84 |
1.891.246,24 |
68,49 |
3.138.917,09 |
57,19 |
|
1. Clients |
|
|
1.880.720,97 |
68,11 |
3.126.589,60 |
56,97 |
|
b) Clients for sales and
short term services rendering |
|
|
1.880.720,97 |
68,11 |
|
|
|
4. Staff |
|
|
|
|
12.327,49 |
0,22 |
|
6. Other credits with the Public
Administrations |
|
|
10.525,27 |
0,38 |
|
|
|
IV. Short term investments in associated
and affiliated companies |
|
|
|
|
|
|
|
V. Short term financial investments |
|
|
|
|
875.000,00 |
15,94 |
|
2. Credits to companies |
|
|
|
|
875.000,00 |
15,94 |
|
VI. Short term periodifications |
|
|
|
|
|
|
|
VII. Cash and equivalents |
216.101,80 |
9,84 |
13.457,79 |
0,49 |
62.563,63 |
1,14 |
|
1. Treasury |
|
|
13.457,79 |
0,49 |
62.563,63 |
1,14 |
|
TOTAL ASSETS (A + B) |
2.195.101,04 |
100,00 |
2.761.254,71 |
100,00 |
5.488.465,49 |
100,00 |
Alerts associated to the conversion to PGC2007
In the conversion process there has been
estimated that the total item 143070 “Provisions on debtors” according to
PGC90, for %1, is associated to “Clients for sales and services rendering”.
Net Worth and Liabilities
Figures given in €
|
|
31/12/2009 (12) |
% ASSETS |
31/12/2008 (12) |
% ASSETS |
31/12/2007 (12) |
% ASSETS |
|
A) NET WORTH |
1.325.346,30 |
60,38 |
1.142.873,38 |
41,39 |
1.112.347,62 |
20,27 |
|
A-1) Equity |
1.325.346,30 |
60,38 |
1.142.873,38 |
41,39 |
1.112.269,49 |
20,27 |
|
I. Capital |
62.624,20 |
2,85 |
62.624,20 |
2,27 |
62.624,20 |
1,14 |
|
1. Authorized capital |
62.624,20 |
2,85 |
62.624,20 |
2,27 |
62.624,20 |
1,14 |
|
II. Issue premium |
|
|
|
|
|
|
|
III. Reserves |
1.080.249,18 |
49,21 |
1.049.645,29 |
38,01 |
819.578,89 |
14,93 |
|
1. Legal and statutory |
|
|
12.524,84 |
0,45 |
12.524,84 |
0,23 |
|
2. Other funds |
|
|
1.037.120,45 |
37,56 |
807.054,05 |
14,70 |
|
IV. (Net worth own shares and
participations) |
|
|
|
|
|
|
|
V. Results from previous years |
|
|
|
|
|
|
|
VI. Other loans from partners |
|
|
|
|
|
|
|
VII. Exercise Result |
182.472,92 |
8,31 |
30.603,89 |
1,11 |
230.066,40 |
4,19 |
|
VIII. (Interim dividend) |
|
|
|
|
|
|
|
IX. Other net worth instruments |
|
|
|
|
|
|
|
A-2) Value changes adjustments |
|
|
|
|
|
|
|
I. Financial assets available for sale |
|
|
|
|
|
|
|
II. Coverage operations |
|
|
|
|
|
|
|
III. Non-current assets and related
liabilities, maintained for sale |
|
|
|
|
|
|
|
IV. Conversion differences |
|
|
|
|
|
|
|
V. Other |
|
|
|
|
|
|
|
A-3) Received legacies, grants and
subventions |
|
|
|
|
78,13 |
0,00 |
|
B) NON CURRENT LIABILITIES |
300.796,18 |
13,70 |
329.316,05 |
11,93 |
350.421,37 |
6,38 |
|
I. Long term provisions |
|
|
|
|
|
|
|
II. Long term debts |
300.796,18 |
13,70 |
329.316,05 |
11,93 |
350.387,89 |
6,38 |
|
2. Debts with bank entities |
|
|
329.316,05 |
11,93 |
350.387,89 |
6,38 |
|
III. Long term debts with associated and affiliated
companies |
|
|
|
|
|
|
|
IV. Liabilities by deferred taxes |
|
|
|
|
33,48 |
0,00 |
|
V. Long term periodifications |
|
|
|
|
|
|
|
VI. Non current trade creditors |
|
|
|
|
|
|
|
VII. Long term debts with special characteristics |
|
|
|
|
|
|
|
C) CURRENT LIABILITIES |
568.958,56 |
25,92 |
1.289.065,28 |
46,68 |
4.025.696,50 |
73,35 |
|
I. Liabilities related with non-current
assets maintained for sale |
|
|
|
|
|
|
|
II. Short term provisions |
|
|
|
|
|
|
|
III. Short term debts |
185.350,55 |
8,44 |
1.191.164,98 |
43,14 |
1.794.879,27 |
32,70 |
|
2. Debts with bank entities |
|
|
1.191.164,98 |
43,14 |
1.794.879,27 |
32,70 |
|
IV. Short term debts with associated and
affiliated companies |
|
|
|
|
|
|
|
V. Trade creditors and other payable
accounts |
383.608,01 |
17,48 |
97.900,30 |
3,55 |
2.230.817,23 |
40,65 |
|
1. Suppliers |
|
|
55.938,68 |
2,03 |
2.169.708,55 |
39,53 |
|
b) Short term suppliers |
|
|
55.938,68 |
2,03 |
|
|
|
2. Suppliers group and associated
companies |
|
|
|
|
11.157,65 |
0,20 |
|
3. Different creditors |
|
|
26.435,73 |
0,96 |
|
|
|
4. Staff (pending remunerations) |
|
|
5.362,91 |
0,19 |
7.501,75 |
0,14 |
|
5. Liabilities by current taxes |
|
|
4.513,82 |
0,16 |
|
|
|
6. Other debts with Public Administrations |
|
|
5.649,16 |
0,20 |
42.449,28 |
0,77 |
|
VI. Short term periodifications |
|
|
|
|
|
|
|
VII. Short term debts with special
characteristics |
|
|
|
|
|
|
|
TOTAL NET WORTH AND LIABILITIES (A + B +
C) |
2.195.101,04 |
100,00 |
2.761.254,71 |
100,00 |
5.488.465,49 |
100,00 |
Alerts associated to the conversion to PGC2007
In the conversion process it has
not been possible to breakdown the composition of liabilities originated by
debts with the public administrations; for this reason the mentioned amounts
are presented fully aggregated in the item “other debts with the public
administrations”
PROFIT AND LOSS ACCOUNT
Figures given in €
|
|
31/12/2009 (12) |
%OPERATING INCOME |
31/12/2008 (12) |
%OPERATING INCOME |
31/12/2007 (12) |
%OPERATING INCOME |
|
A) CONTINUED OPERATIONS |
|
|
|
|
|
|
|
1. Net Turnover |
3.746.976,11 |
99,95 |
7.965.793,01 |
100,00 |
10.868.600,69 |
99,71 |
|
A) Sales |
|
|
7.965.793,01 |
100,00 |
10.868.572,39 |
99,71 |
|
b) Services provided |
|
|
|
|
28,30 |
0,00 |
|
2. Variation in stocks of finished goods
and work in progress |
|
|
|
|
|
|
|
3. Works for its own assets |
|
|
|
|
|
|
|
4. Supplies |
-3.044.996,14 |
-81,23 |
-7.266.822,81 |
-91,23 |
-10.062.667,27 |
-92,31 |
|
a) Material consumed |
|
|
-7.266.822,81 |
-91,23 |
-10.062.667,27 |
-92,31 |
|
5. Other operating income |
1.836,60 |
0,05 |
|
|
32.007,57 |
0,29 |
|
a) Other incomes |
|
|
|
|
32.007,57 |
0,29 |
|
6. Labour cost |
-111.048,00 |
-2,96 |
-147.828,94 |
-1,86 |
-151.602,19 |
-1,39 |
|
a) Wages and similar expenses |
|
|
-114.259,49 |
-1,43 |
|
|
|
b) Social costs |
|
|
-33.569,45 |
-0,42 |
|
|
|
7. Other operating costs |
-267.208,48 |
-7,13 |
-336.392,23 |
-4,22 |
-439.021,95 |
-4,03 |
|
a) External services |
|
|
-329.389,20 |
-4,14 |
-429.091,06 |
-3,94 |
|
b) Taxes |
|
|
-4.270,99 |
-0,05 |
-3.193,84 |
-0,03 |
|
c) Losses, deterioration and variation on
business operations provisions |
|
|
-2.732,04 |
-0,03 |
-5.676,38 |
-0,05 |
|
d) Other day to day expenses |
|
|
|
|
-1.060,67 |
-0,01 |
|
8. Amortization of fixed assets |
-34.426,89 |
-0,92 |
-35.778,10 |
-0,45 |
-38.798,95 |
-0,36 |
|
9. Allocation of subventions on non
financial investments and other |
|
|
111,61 |
0,00 |
|
|
|
10. Provisions excess |
|
|
|
|
|
|
|
11. Deterioration and result for fixed assets
disposal |
-4.519,43 |
-0,12 |
|
|
183.977,54 |
1,69 |
|
b) Results for disposals and others |
|
|
|
|
183.977,54 |
1,69 |
|
12. Negative difference of business
combinations |
|
|
|
|
|
|
|
13. Other results |
-84,30 |
0,00 |
-67,90 |
0,00 |
|
|
|
A.1) OPERATING RESULT (1 + 2 + 3 + 4 + 5 +
6 + 7 + 8 + 9 + 10 + 11 + 12 + 13) |
286.529,47 |
7,64 |
179.014,64 |
2,25 |
392.495,44 |
3,60 |
|
14. Financial income |
138,28 |
0,00 |
363,48 |
0,00 |
76.816,49 |
0,70 |
|
b) From negotiable values and other
financial instruments |
|
|
363,48 |
0,00 |
75.476,09 |
0,69 |
|
b 2) From third parties |
|
|
363,48 |
0,00 |
75.476,09 |
0,69 |
|
c) Allocation of financial legacies,
grants and subventions |
|
|
|
|
1.340,40 |
0,01 |
|
15. Financial expenses |
-34.559,50 |
-0,92 |
-135.684,65 |
-1,70 |
-170.646,64 |
-1,57 |
|
a) For debts with associated and
affiliated companies |
|
|
-223,17 |
0,00 |
-660,84 |
-0,01 |
|
b) For debts with third parties |
|
|
-135.461,48 |
-1,70 |
-169.985,80 |
-1,56 |
|
16. Reasonable value variation on
financial instruments |
|
|
|
|
|
|
|
17. Exchange differences |
|
|
|
|
|
|
|
18. Deterioration and result for disposal
of financial instruments |
|
|
|
|
|
|
|
19. Other financial income and expenses |
|
|
|
|
|
|
|
A.2) FINANCIAL RESULT (14 + 15 + 16 + 17 +
18 + 19) |
-34.421,22 |
-0,92 |
-135.321,17 |
-1,70 |
-93.830,15 |
-0,86 |
|
A.3) RESULT BEFORE TAXES (A.1 + A.2) |
252.108,25 |
6,73 |
43.693,47 |
0,55 |
298.665,29 |
2,74 |
|
20. Taxes on profits |
-69.635,33 |
-1,86 |
-13.089,58 |
-0,16 |
-68.598,89 |
-0,63 |
|
A.4) EXERCISE RESULT COMING FROM CONTINUED
OPERATIONS (A.3 + 20) |
|
|
30.603,89 |
0,38 |
230.066,40 |
2,11 |
|
B) DISCONTINUED OPERATIONS |
|
|
|
|
|
|
|
21. Net of taxes exercise result coming
from discontinued operations |
|
|
|
|
|
|
|
A.5) EXERCISE RESULT (A.4 + 21) |
182.472,92 |
4,87 |
30.603,89 |
0,38 |
230.066,40 |
2,11 |
Alerts associated to the conversion to PGC2007
The valuation norms applicable to
extraordinary results and other exercises ones have changed substantially and,
for this reason the conversion of financial statements of the formulation
exercise of the accounts to PGC2007 could include notable inaccuracies.
The valuation norms applicable to
deteriorations and results for assets disposal have changed substantially and,
for this reason, the conversion of financial statements of the formulation
exercise of the accounts to PGC2007 could include notable inaccuracies. In the
conversion process there have been made the following assumptions: 1) the total
“gains from disposal of fixed assets” corresponds with results for disposal of
fixed assets and not of financial instruments. 2) no sale of non functional
assets derived from discontinued operations has taken place.
In the financial statements
conversion process of the accounts formulation exercise to PGC2007 it could not
be identified the amount of discounts on sales for prompt payment that under
PGC2007 are registered reducing sales and not as a financial expense.
NET WORTH CHANGES STATUS
Status of recognized income and expenses
Figures given in €
|
NET WORTH CHANGES (1/3) |
31/12/2009 (12) |
31/12/2008 (12) |
|
A) PROFIT AND LOSS ACCOUNT RESULT |
182.472,92 |
30.603,89 |
|
INCOME AND EXPENSES ALLOCATED DIRECTLY TO
NET WORTH |
|
|
|
I. For valuation of financial instruments |
|
|
|
II. Cash flow coverage |
|
|
|
III. Received legacies, grants and
subventions |
|
|
|
IV. For actuarial profits and losses and
other adjustments |
|
|
|
V. Non-current assets and related
liabilities, maintained for sale |
|
|
|
VI. Conversion differences |
|
|
|
VII. Tax effect |
|
|
|
B) TOTAL INCOME AND EXPENSES ALLOCATED
DIRECTLY TO NET WORTH (I + II + III + IV +V+VI+VII) |
|
|
|
PROFIT AND LOSS ACCOUNT TRANSFERS |
|
|
|
VIII. For valuation of financial
instruments |
|
|
|
IX. Cash flow coverage |
|
|
|
X. Received legacies, grants and
subventions |
|
|
|
XI. Non-current assets and related
liabilities, maintained for sale |
|
|
|
XII. Conversion differences |
|
|
|
XIII. Tax effect |
|
|
|
C) TOTAL TRANSFERS TO THE PROFIT AND LOSS ACCOUNT
(VIII + IX + X + XI+ XII+ XIII) |
|
|
|
TOTAL INCOME AND EXPENSES RECOGNIZED (A +
B + C) |
182.472,92 |
30.603,89 |
TOTAL NET WORTH CHANGES STATUS
Figures given in €
|
NET WORTH CHANGES ( 2 /3) |
AUTHORIZED CAPITAL |
RESERVES |
EXERCISE RESULT |
RECEIVED LEGACIES, GRANTS AND SUBVENTIONS |
|
FINAL ACCOUNT BALANCE OF EXERCISE (2007) |
62.624,20 |
819.578,89 |
230.066,40 |
|
|
I. Adjustments by change of criteria in
the exercise (2007) |
|
|
|
111,61 |
|
II. Adjustments by errors in the exercise
(2007) |
|
|
|
|
|
ADJUSTED ACCOUNT BALANCE, BEGINNING OF
EXERCISE (2008) |
62.624,20 |
819.578,89 |
230.066,40 |
111,61 |
|
I. Total recognized income and expenses |
|
|
30.603,89 |
|
|
II. Operations with partners or owners |
|
|
|
|
|
III. Other net worth variations |
|
230.066,40 |
-230.066,40 |
-111,61 |
|
FINAL ACCOUNT BALANCE OF EXERCISE (2008) |
62.624,20 |
1.049.645,29 |
30.603,89 |
|
|
I. Adjustments by change of criteria in the
exercise (2008) |
|
|
|
|
|
II. Adjustments by errors in the exercise
(2008) |
|
|
|
|
|
ADJUSTED ACCOUNT BALANCE, BEGINNING OF
EXERCISE (2009) |
62.624,20 |
1.049.645,29 |
30.603,89 |
|
|
I. Total recognized income and expenses |
|
|
182.472,92 |
|
|
II. Operations with partners or owners |
|
|
|
|
|
III. Other net worth variations |
|
30.603,89 |
-30.603,89 |
|
|
FINAL ACCOUNT BALANCE OF EXERCISE (2009) |
62.624,20 |
1.080.249,18 |
182.472,92 |
|
|
NET WORTH CHANGES ( 3 /3) |
TOTAL |
|
||
|
FINAL ACCOUNT BALANCE OF EXERCISE (2007) |
1.112.269,49 |
|
||
|
I. Adjustments by change of criteria in
the exercise (2007) |
111,61 |
|
||
|
II. Adjustments by errors in the exercise
(2007) |
|
|
||
|
ADJUSTED ACCOUNT BALANCE, BEGINNING OF EXERCISE
(2008) |
1.112.381,10 |
|
||
|
I. Total recognized income and expenses |
30.603,89 |
|
||
|
II. Operations with partners or owners |
|
|
||
|
III. Other net worth variations |
-111,61 |
|
||
|
FINAL ACCOUNT BALANCE OF EXERCISE (2008) |
1.142.873,38 |
|
||
|
I. Adjustments by change of criteria in
the exercise (2008) |
|
|
||
|
II. Adjustments by errors in the exercise
(2008) |
|
|
||
|
ADJUSTED ACCOUNT BALANCE, BEGINNING OF
EXERCISE (2009) |
1.142.873,38 |
|
||
|
I. Total recognized income and expenses |
182.472,92 |
|
||
|
II. Operations with partners or owners |
|
|
||
|
III. Other net worth variations |
|
|
||
|
FINAL ACCOUNT BALANCE OF EXERCISE (2009) |
1.325.346,30 |
|
||
CASH FLOW STATUS
Figures given in €
|
|
31/12/2008 (12) |
|
A) CASH FLOW COMING FROM OPERATING
ACTIVITIES |
|
|
1. exercise result before taxes |
43.693,47 |
|
2. Results adjustments |
179.327,81 |
|
a) Amortization of fixed assets (+) |
35.778,10 |
|
b) Value correction for deterioration
(+/-) |
8.228,54 |
|
g) Financial income (-) |
-363,48 |
|
f) Financial expenses (+) |
135.684,65 |
|
3. Changes in current capital |
-342.732,44 |
|
a) Stocks (+/-) |
603.963,39 |
|
b) Debtors and other receivable accounts
(+/-) |
1.237.640,09 |
|
d) Creditors and other payable accounts
(+/-) |
-2.171.039,43 |
|
e) Other current liabilities (+/-) |
-2.138,84 |
|
f) Other non-current assets and
liabilities (+/-) |
-11.157,65 |
|
4. Other cash flow coming from operating activities |
-178.759,94 |
|
a) Interests payments (-) |
-135.684,65 |
|
c) Interests collections (+) |
363,48 |
|
d) Collections (payments) for profit tax
(+/-) |
-43.438,77 |
|
5. Cash flow coming from operating
activities (1 + 2 + 3 + 4) |
-298.471,10 |
|
B) CASH FLOW COMING FROM INVESTING
ACTIVITIES |
|
|
6. Investment payments (-) |
-432,00 |
|
c) Tangible assets |
-432,00 |
|
7. Disinvestment collections (+) |
874.695,00 |
|
e) Other financial assets |
874.695,00 |
|
8. Cash Flow in investment activities (6 +
7) |
874.263,00 |
|
C) CASH FLOW COMING FROM FINANCING
ACTIVITIES |
|
|
9. Net worth instruments collections and
payments |
-111,61 |
|
b) Net worth instruments amortization (-) |
-111,61 |
|
10. Financial liabilities instruments
collections and payments |
-624.786,13 |
|
b) Return and amortization of |
-624.786,13 |
|
2. Debts with bank
entities (-) |
-624.786,13 |
|
11. Payments for dividends and
remunerations of other net worth instruments |
|
|
12. Cash Flow in financing activities (9 +
10 + 11) |
-624.897,74 |
|
D) Exchange rate variations effect |
|
|
E) NET CASH OR EQUIVALENTS INCREASE /
REDUCTION (5 + 8 + 12 + D) |
-49.105,84 |
|
Cash or equivalents at the beginning of
the exercise |
62.563,63 |
|
Cash or equivalents at the end of the
exercise |
13.457,79 |
RATIOS
|
|
31/12/2009 (12) |
CHANGE % |
31/12/2008 (12) |
CHANGE % |
31/12/2007 (12) |
|
BALANCE RATIOS |
|||||
|
Working Capital (€) |
1.083.270,82 |
21,84 |
889.071,45 |
5,26 |
844.609,91 |
|
Working capital ratio |
0,49 |
53,12 |
0,32 |
113,33 |
0,15 |
|
Soundness Ratio |
2,44 |
24,49 |
1,96 |
8,89 |
1,80 |
|
Average Collection Period (days) |
120 |
40,51 |
85 |
-17,99 |
104 |
|
Average Payment Period (days) |
42 |
792,31 |
5 |
-93,87 |
76 |
|
LIQUIDITY RATIOS |
|||||
|
Current Ratio (%) |
290,40 |
71,86 |
168,97 |
39,67 |
120,98 |
|
Quick Ratio (%) |
37,98 |
3.551,92 |
1,04 |
-95,53 |
23,29 |
|
DEBT RATIOS |
|||||
|
Borrowing percentage (%) |
22,15 |
-59,78 |
55,06 |
40,88 |
39,09 |
|
External Financing Average Cost |
0,07 |
-22,22 |
0,09 |
12,50 |
0,08 |
|
Debt Service Coverage |
2,24 |
144,01 |
-5,09 |
-163,78 |
7,98 |
|
Interest Coverage |
8,29 |
528,03 |
1,32 |
-42,61 |
2,30 |
|
GENERAL AND ACTIVITIES RATIOS |
|||||
|
Auto financing generated by sales (%) |
5,79 |
254,40 |
-3,75 |
-251,82 |
2,47 |
|
Auto financing generated by Assets (%) |
9,88 |
191,40 |
-10,81 |
-320,61 |
4,90 |
|
Breakdown Point |
1,08 |
5,88 |
1,02 |
-1,92 |
1,04 |
|
Average Sales Volume per Employee |
936.744,03 |
-41,20 |
1.593.158,60 |
2,61 |
1.552.657,24 |
|
Average Cost per Employee |
27.762,00 |
-6,10 |
29.565,79 |
36,52 |
21.657,46 |
|
Assets Turnover |
1,71 |
-40,83 |
2,88 |
45,96 |
1,98 |
|
Inventory Turnover (days) |
22 |
63,16 |
14 |
-51,90 |
28 |
|
RESULTS RATIOS |
|||||
|
Return on Assets (ROA) (%) |
13,05 |
101,39 |
6,48 |
-9,37 |
7,15 |
|
Operating Profitability (%) |
14,42 |
85,35 |
7,78 |
-30,60 |
11,21 |
|
Return on Equity (ROE) (%) |
19,02 |
397,91 |
3,82 |
-85,77 |
26,85 |
SECTORIAL ANALYSIS
Balance Sheet and Financial Balance
Figures expressed in %
|
|
COMPANY (2009) |
SECTOR |
DIFFERENCE |
|
BALANCE SHEET ANALYSIS: % on the total
assets |
|
|
|
|
ASSETS |
|||
|
A) NON CURRENT ASSETS |
24,73 |
30,90 |
-6,16 |
|
A) CURRENT ASSETS |
75,27 |
69,10 |
6,16 |
|
LIABILITIES |
|||
|
A) NET WORTH |
60,38 |
40,56 |
19,82 |
|
B) NON CURRENT LIABILITIES |
13,70 |
15,14 |
-1,44 |
|
C) CURRENT LIABILITIES |
25,92 |
44,30 |
-18,38 |
|
|
|
|
|
Results Analytical Account
Figures given in %
|
|
COMPANY (2009) |
SECTOR |
DIFFERENCE |
|
Net Turnover |
99,95 |
98,79 |
1,16 |
|
Other operating income |
0,05 |
1,21 |
-1,16 |
|
OPERATING INCOME |
100,00 |
100,00 |
0,00 |
|
Supplies |
-81,23 |
-67,92 |
-13,31 |
|
Variation in stocks of finished goods and
work in progress |
|
0,18 |
|
|
GROSS MARGIN |
18,77 |
32,26 |
-13,49 |
|
Other operating costs |
-7,13 |
-13,83 |
6,70 |
|
Labour cost |
-2,96 |
-13,39 |
10,43 |
|
GROSS OPERATING RESULT |
8,68 |
5,05 |
3,63 |
|
Amortization of fixed assets |
-0,92 |
-1,69 |
0,77 |
|
Deterioration and result for fixed assets
disposal |
-0,12 |
0,11 |
-0,23 |
|
Other expenses / income |
|
0,14 |
|
|
NET OPERATING RESULT |
7,64 |
3,61 |
4,03 |
|
Financial result |
-0,92 |
-1,15 |
0,23 |
|
RESULT BEFORE TAX |
6,73 |
2,46 |
4,27 |
|
Taxes on profits |
-1,86 |
-0,64 |
-1,22 |
|
RESULT COMING FROM CONTINUED OPERATIONS |
4,87 |
1,82 |
3,05 |
|
Exercise result coming from discontinued operations
net of taxes |
|
-0,09 |
|
|
NET RESULT |
4,87 |
1,73 |
3,14 |
|
Amortization of fixed assets |
-0,92 |
-1,69 |
0,77 |
|
Deterioration and provisions variation |
-1,04 |
-0,12 |
-0,92 |
|
|
6,82 |
3,55 |
3,27 |
Main Ratios
Figures given in €
|
|
COMPANY (2009) |
PTILE25 |
PTILE50 |
PTILE75 |
|
BALANCE RATIOS |
|
|
|
|
|
Working Capital (€) |
1.083.270,82 |
221.018,16 |
525.734,45 |
1.082.865,76 |
|
Working capital ratio |
0,49 |
0,10 |
0,22 |
0,38 |
|
Soundness Ratio |
2,44 |
0,87 |
1,61 |
3,92 |
|
Average Collection Period (days) |
120 |
57 |
94 |
133 |
|
Average Payment Period (days) |
42 |
72 |
99 |
135 |
|
LIQUIDITY RATIOS |
|
|
|
|
|
Current Ratio (%) |
290,40 |
116,53 |
142,77 |
204,64 |
|
Quick Ratio (%) |
37,98 |
5,50 |
17,20 |
45,58 |
|
DEBT RATIOS |
|
|
|
|
|
Borrowing percentage (%) |
22,15 |
7,72 |
20,64 |
39,02 |
|
External Financing Average Cost |
0,07 |
0,04 |
0,06 |
0,10 |
|
Debt Service Coverage |
2,24 |
0,69 |
3,47 |
9,23 |
|
Interest Coverage |
8,29 |
1,28 |
2,73 |
7,86 |
|
GENERAL AND ACTIVITIES RATIOS |
|
|
|
|
|
Auto financing generated by sales (%) |
5,79 |
1,16 |
2,84 |
5,07 |
|
Auto financing generated by Assets (%) |
9,88 |
2,36 |
4,14 |
6,85 |
|
Breakdown Point |
1,08 |
1,01 |
1,03 |
1,06 |
|
Average Sales Volume per Employee |
936.744,03 |
183.824,39 |
261.217,97 |
409.977,33 |
|
Average Cost per Employee |
27.762,00 |
24.449,13 |
31.420,62 |
40.989,03 |
|
Assets Turnover |
1,71 |
1,10 |
1,54 |
2,10 |
|
Inventory Turnover (days) |
22 |
31 |
72 |
112 |
|
RESULTS RATIOS |
|
|
|
|
|
Return on Assets (ROA) (%) |
13,05 |
2,23 |
4,51 |
7,89 |
|
Operating Profitability (%) |
14,42 |
4,23 |
6,63 |
10,06 |
|
Return on Equity (ROE) (%) |
19,02 |
2,71 |
8,23 |
17,91 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.50.31 |
|
|
1 |
Rs.79.04 |
|
Euro |
1 |
Rs.65.82 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.