MIRA
INFORM REPORT
|
Report Date : |
05.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
ARETS GRAPHICS |
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Registered Office : |
Tunnelweg 3 Niel, 2845 |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Year of Establishment : |
1989 |
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Com. Reg. No.: |
439245296 |
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Legal Form : |
Private Subsidiary |
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Line of Business : |
Manufacture of paints, varnishes and similar coatings, printing
ink and mastics |
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No. of Employees : |
77 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 31, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
Belgium |
A1 |
A1 |
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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 and address
ARETS GRAPHICS
Tunnelweg 3 Niel, 2845 Belgium
Tel: 03 880 67 67
Fax: 03 880 67 90
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Employees: |
77 |
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Company Type: |
Private Subsidiary |
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Corporate
Family: |
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Ultimate Parent: |
Arets International |
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Incorporation
Date: |
1989 |
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Financials in: |
USD (mil) |
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Fiscal Year End: |
31-Dec-2010 |
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Reporting
Currency: |
Euro |
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Annual Sales: |
51.7 1 |
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Total Assets: |
32.8 |
Business Description
Manufacture of paints, varnishes and similar coatings, printing ink and mastics
Industry
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Industry |
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ANZSIC 2006: |
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NACE 2002: |
2430 - Manufacture of paints, varnishes and similar coatings, printing ink and mastics |
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NAICS 2002: |
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UK SIC 2003: |
2430 - Manufacture of paints, varnishes and similar coatings, printing ink and mastics |
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US SIC 1987: |
2851 - Paints, Varnishes, Lacquers, Enamels, and Allied Products |
Key Executives
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Registered No.(VAT)
439245296
1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7550783
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7454064
Location
Tunnelweg 3 Niel, 2845 Belgium
Tel: 03
880 67 67
Fax: 03 880 67 90
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Sales EUR(mil): |
39.1 |
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Assets EUR(mil): |
24.5 |
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Employees: |
77 |
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Fiscal Year End: |
31-Dec-2010 |
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Industry: |
Chemical
Manufacturing |
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Incorporation Date: |
1989 |
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Company Type: |
Private Subsidiary |
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Quoted Status: |
Not Quoted |
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Registered No.(VAT): |
439245296 |
ANZSIC 2006 Codes:
1916 - Paint and Coatings Manufacturing
NACE 2002 Codes:
2430 - Manufacture of paints, varnishes and similar coatings, printing ink and mastics
NAICS 2002 Codes:
3255 - Paint, Coating, and Adhesive Manufacturing
US SIC 1987:
2851 - Paints, Varnishes, Lacquers, Enamels, and Allied Products
UK SIC 2003:
2430 - Manufacture of paints, varnishes and similar coatings, printing ink and mastics
Manufacture of paints, varnishes and similar coatings, printing ink and mastics
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Financials in: |
EUR(mil) |
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Revenue: |
39.1 |
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Assets: |
24.5 |
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Current Assets: |
19.6 |
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Fixed Assets: |
4.9 |
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Total Liabilities: |
24.5 |
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Issued Capital: |
2.1 |
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Net Worth: |
2.1 |
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Date of Financial Data: |
31-Dec-2010 |
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1 Year Growth |
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-2.2% |
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NA |
Corporate
Structure News
Corporate Family
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
|
Arets International |
Parent |
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Subsidiary |
Niel |
Belgium |
Chemical Manufacturing |
51.7 |
77 |
Executives Report
Executives
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Representative/Auditor |
Accounting Executive |
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Shareholders' Representative |
Shareholder Relations Executive |
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Shareholders' Representative |
Shareholder Relations Executive |
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Shareholders' Representative |
Shareholder Relations Executive |
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Shareholders' Representative |
Shareholder Relations Executive |
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Partner |
Partner |
Annual
Profit & Loss
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|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
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Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
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Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate
(Period Average) |
0.755078 |
0.719047 |
0.683679 |
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Consolidated |
No |
No |
No |
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Turnover |
51.7 |
45.8 |
49.2 |
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Increase or
Decrease in Stocks of Finished Goods, and Orders in Progress |
0.2 |
0.2 |
0.0 |
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Other Operating
Income |
0.9 |
1.0 |
1.1 |
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Operating Income |
52.9 |
47.0 |
50.3 |
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Purchases |
29.4 |
25.6 |
28.9 |
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Increase
or Decrease in Stocks |
-0.5 |
0.2 |
-0.7 |
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Raw Materials,
Consumables, and Goods for Release |
28.9 |
25.8 |
28.2 |
|
Services and
Sundry Goods |
7.7 |
6.9 |
8.1 |
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Remuneration,
Social Security Charges, and Pensions |
4.4 |
4.6 |
4.8 |
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Depreciation of
and Other Amounts Written Off of Formation Expense, Intangible and Tangible
Fixed Assets |
0.9 |
1.2 |
1.4 |
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Increase or
Decrease in Amounts Written Off Stocks, Orders, and Trade Debtors |
-0.3 |
0.8 |
0.1 |
|
Provisions for
Liabilities and Charges |
0.4 |
1.8 |
0.4 |
|
Other Operating
Charges |
0.9 |
0.3 |
0.3 |
|
Operating
Charges |
42.8 |
41.4 |
43.3 |
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Income From
Current Assets |
0.5 |
0.5 |
0.2 |
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Other Financial
Income |
1.0 |
0.9 |
0.9 |
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Financial Income |
1.5 |
1.4 |
1.1 |
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Interest and Other
Debt Charges |
0.4 |
0.6 |
0.6 |
|
Amounts Written
Off on Current Assets |
0.6 |
3.7 |
- |
|
Other Financial
Charges |
0.8 |
0.8 |
1.4 |
|
Financial
Charges |
1.8 |
5.1 |
2.0 |
|
Adjustments to Amounts
Written Off on Financial Fixed Assets |
0.1 |
- |
- |
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Other
Extraordinary Income |
0.1 |
- |
0.1 |
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Extraordinary
Income |
0.2 |
- |
0.1 |
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Amounts Written
Off on Financial Fixed Assets |
- |
1.1 |
0.2 |
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Loss on Disposal of
Fixed Assets |
0.1 |
0.0 |
0.0 |
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Other
Extraordinary Charges |
0.9 |
0.3 |
2.2 |
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Extraordinary
Charges |
0.9 |
1.4 |
2.4 |
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Transfer from
Differed Taxes |
0.0 |
0.0 |
0.0 |
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Income Taxes |
3.1 |
0.5 |
1.2 |
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Adjustment of
Income Taxes and Write-Back of Tax Provisions |
0.0 |
- |
0.0 |
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Income Taxes |
3.1 |
0.5 |
1.2 |
|
Transfer from
Untaxed Reserves |
0.0 |
0.0 |
0.0 |
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Return
on Capital |
- |
- |
13.2 |
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Profit to be
Distributed |
- |
- |
13.2 |
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Employees |
77 |
68 |
71 |
Annual
Balance Sheet
Financials in: USD (mil)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.745406 |
0.696986 |
0.719399 |
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Consolidated |
No |
No |
No |
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Intangible
Assets |
0.1 |
0.0 |
0.0 |
|
Land
& Buildings |
4.9 |
5.6 |
5.2 |
|
Plant,
Machinery, and Equipment |
0.7 |
0.7 |
0.9 |
|
Furniture
and Vehicles |
0.1 |
0.1 |
0.1 |
|
Tangible
Assets |
5.7 |
6.4 |
6.2 |
|
Participating
Interests |
0.2 |
0.2 |
1.3 |
|
Amounts
Receivable |
0.4 |
- |
0.5 |
|
Affiliated
Enterprises |
0.6 |
0.2 |
1.8 |
|
Amounts
Receivable and Cash Guarantees |
0.1 |
0.1 |
0.1 |
|
Other
Capital Assets |
0.1 |
0.1 |
0.1 |
|
Capital
Assets |
0.7 |
0.3 |
1.9 |
|
Fixed Assets |
6.5 |
6.7 |
8.1 |
|
Other
Amounts Receivable |
0.1 |
0.1 |
- |
|
Amounts
Receivable After More Than One Year |
0.1 |
0.1 |
- |
|
Raw
Materials and Consumables |
3.3 |
3.1 |
3.3 |
|
Work
in Progress |
0.1 |
0.0 |
0.0 |
|
Finished
Goods |
1.5 |
1.5 |
1.2 |
|
Goods
Purchased for Resale |
0.8 |
0.8 |
0.6 |
|
Stocks |
5.8 |
5.4 |
5.2 |
|
Inventory
and Orders in Progress |
5.8 |
5.4 |
5.2 |
|
Trade
Debtors |
18.0 |
14.7 |
13.9 |
|
Other
Amounts Receivable |
0.8 |
2.5 |
4.1 |
|
Amounts
Receivable Within One Year |
18.8 |
17.2 |
18.0 |
|
Liquid
Assets |
1.4 |
2.7 |
1.4 |
|
Adjustment
Accounts |
0.2 |
0.2 |
0.3 |
|
Current Assets |
26.3 |
25.6 |
24.9 |
|
Total Assets |
32.8 |
32.3 |
33.0 |
|
Issued
Capital |
2.8 |
3.0 |
2.9 |
|
Capital
|
2.8 |
3.0 |
2.9 |
|
Legal
Reserve |
0.3 |
0.3 |
0.3 |
|
Other |
0.5 |
0.5 |
0.5 |
|
Reserves
Not Available for Distribution |
0.5 |
0.5 |
0.5 |
|
Untaxed
Reserves |
0.2 |
0.2 |
0.2 |
|
Reserves
Available for Distribution |
0.3 |
0.3 |
0.3 |
|
Reserves |
1.2 |
1.3 |
1.3 |
|
Major
Repairs and Maintenance |
- |
- |
0.0 |
|
Other
Liabilities and Charges |
2.5 |
2.3 |
0.4 |
|
Provisions
for Liabilities and Charges |
2.5 |
2.3 |
0.4 |
|
Deferred
Taxation |
0.1 |
0.1 |
0.1 |
|
Provisions
and Deferred Taxes |
2.6 |
2.4 |
0.6 |
|
Capital and
Reserves |
12.6 |
7.0 |
6.7 |
|
Credit
Institutions |
6.5 |
9.5 |
11.5 |
|
Financial
Debts |
6.5 |
9.5 |
11.5 |
|
Amounts
Due After More Than One Year |
6.5 |
9.5 |
11.5 |
|
Current
Portion of Amounts Payable After More Than One Year |
2.4 |
2.4 |
1.8 |
|
Credit
Institutions |
1.5 |
3.6 |
5.6 |
|
Financial
Debts |
1.5 |
3.6 |
5.6 |
|
Suppliers |
2.8 |
5.6 |
5.2 |
|
Trade
Debts |
2.8 |
5.6 |
5.2 |
|
Taxes |
2.6 |
0.1 |
0.1 |
|
Remuneration
and Social Security |
0.6 |
0.6 |
0.6 |
|
Taxes,
Wages, and Social Security |
3.2 |
0.7 |
0.7 |
|
Other
Amounts Payable |
0.0 |
0.2 |
0.0 |
|
Amounts
Payable Within One Year |
9.9 |
12.5 |
13.3 |
|
Adjustment
Accounts |
1.3 |
1.0 |
0.9 |
|
Creditors |
17.6 |
23.0 |
25.7 |
|
Total
Liabilities + Shareholders' Equity |
32.8 |
32.3 |
33.0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.72 |
|
|
1 |
Rs.86.98 |
|
Euro |
1 |
Rs.70.69 |
INFORMATION DETAILS
|
Report Prepared
by : |
SHG |
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.