MIRA
INFORM REPORT
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Report Date : |
19.05.2012 |
IDENTIFICATION DETAILS
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Name : |
MUNDIFIOS - COMéRCIO DE FIOS, LDA |
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Registered Office : |
Parque Industrial de São João Ponte Pavilhão F 11 Aptdo 534
Guimarães, 914 |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Year of Establishment : |
1985 |
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Com. Reg. No.: |
501612920 |
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Legal Form : |
Private Independent |
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Line of Business : |
Wholesale of textiles |
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No. of Employees : |
30 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 31st, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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Portugal |
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 and address
MUNDIFIOS - Comércio de Fios, Lda
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Business Description
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Mundifios - Comércio De Fios, S.A. is primarily engaged in wholesale
of yarn; wholesale of fabrics; wholesale of household linen, etc.; and
wholesale of haberdashery: needles, sewing thread, etc. |
Industry
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Industry |
Apparel and Accessories |
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ANZSIC 2006: |
3711 - Textile Product Wholesaling |
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NACE 2002: |
5141 - Wholesale of textiles |
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NAICS 2002: |
424310 - Piece Goods, Notions, and Other
Dry Goods Merchant Wholesalers |
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UK SIC 2003: |
5141 - Wholesale of textiles |
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US SIC 1987: |
5131 - Piece Goods, Notions, and Other Dry
Good |
Key Executives
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1 - Profit &
Loss Item Exchange Rate: USD 1 = EUR 0.7550783
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7454064
Corporate Overview
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Executives Report
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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 |
85.8 |
60.2 |
69.1 |
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Net sales |
84.6 |
58.7 |
66.8 |
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Supplementary operating income |
- |
- |
0.1 |
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Other operating income |
1.2 |
1.6 |
- |
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Cost of goods sold |
71.3 |
52.5 |
58.8 |
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Cost of sales |
71.3 |
52.5 |
58.8 |
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Service costs |
2.6 |
2.1 |
1.8 |
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Total payroll costs |
1.3 |
1.2 |
1.2 |
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Fixed asset depreciation and amortisation |
0.3 |
0.4 |
0.4 |
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Other operating costs |
5.2 |
0.4 |
0.9 |
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Total financial income |
- |
- |
2.2 |
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Total expenses |
0.1 |
0.1 |
0.9 |
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Profit before tax |
5.0 |
3.6 |
4.8 |
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Extraordinary income |
- |
- |
0.1 |
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Extraordinary expenses |
- |
- |
0.1 |
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Other taxes |
- |
- |
0.1 |
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Total taxation |
2.6 |
1.0 |
1.3 |
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Net profit |
2.3 |
2.6 |
3.5 |
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Annual Balance
Sheet |
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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 |
13.4 |
14.3 |
13.9 |
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Available reserves |
- |
- |
4.6 |
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Total reserves |
11.7 |
9.8 |
1.6 |
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Profits for the year |
2.4 |
2.7 |
3.4 |
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Total stockholders equity |
27.5 |
26.9 |
23.4 |
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Other long-term liabilities |
3.3 |
2.6 |
0.4 |
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Trade creditors |
8.5 |
6.7 |
10.4 |
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Advances received |
0.1 |
0.0 |
1.7 |
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Bank loans and overdrafts |
3.6 |
4.1 |
0.1 |
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Loans from principals |
0.0 |
0.0 |
0.0 |
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Taxes |
3.0 |
1.1 |
- |
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Other current liabilities |
0.3 |
0.5 |
0.2 |
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Total current liabilities |
15.5 |
12.4 |
12.4 |
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Total debts |
18.9 |
15.0 |
13.0 |
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Regularisation account |
0.1 |
- |
0.2 |
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Total liabilities (including net worth) |
46.4 |
41.9 |
36.4 |
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Intangibles |
0.0 |
- |
0.2 |
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Buildings |
- |
- |
2.4 |
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Machinery and tools |
- |
- |
0.0 |
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Fixtures and equipment |
- |
- |
0.6 |
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Furniture and vehicles |
- |
- |
1.8 |
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Other fixed assets |
- |
- |
0.0 |
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Total tangible fixed assets |
1.9 |
2.1 |
4.9 |
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Other financial assets |
2.7 |
5.2 |
0.3 |
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Shares held in associated companies |
- |
- |
0.9 |
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Participating interest |
- |
- |
1.8 |
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Receivables due after 1 year |
- |
- |
0.1 |
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Depreciation and amortisation |
- |
- |
-4.0 |
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Merchandise |
- |
- |
7.1 |
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Fixed assets for sale |
- |
- |
-0.9 |
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Prepayments |
2.3 |
1.5 |
- |
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Net stocks and work in progress |
9.7 |
6.4 |
6.2 |
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Trade debtors |
26.4 |
19.5 |
19.5 |
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Other receivables |
0.1 |
0.1 |
0.8 |
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Cash and liquid assets |
- |
- |
0.0 |
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Money on deposit at bank(s) |
2.6 |
4.7 |
4.9 |
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Recoverable taxation |
0.8 |
2.3 |
0.8 |
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Total current assets |
41.8 |
34.6 |
32.2 |
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Prepaid expenses and deferred costs |
0.0 |
0.0 |
0.0 |
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Total assets |
46.4 |
41.9 |
36.4 |
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Annual Ratios |
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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 |
2.70 |
2.80 |
2.60 |
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Acid test ratio |
2.10 |
2.30 |
2.10 |
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Total liabilities to net worth |
1.46% |
1.79% |
1.80% |
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Net worth to total assets |
0.59% |
0.64% |
0.64% |
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Current liabilities to net worth |
0.57% |
0.46% |
0.53% |
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Current liabilities to stock |
1.61% |
1.95% |
2.00% |
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Fixed assets to net worth |
0.17% |
0.27% |
0.18% |
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Collection period |
112.30 |
117.70 |
112.00 |
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Stock turnover rate |
8.90 |
9.50 |
10.30 |
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Asset utilisation |
0.54% |
0.69% |
0.57% |
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Creditors to sales |
22.00 |
24.80 |
20.50 |
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Asset turnover |
1.85% |
1.44% |
1.74% |
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Profit margin |
0.03% |
0.05% |
0.05% |
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Return on assets |
0.05% |
0.07% |
0.09% |
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Shareholders' return |
0.09% |
0.10% |
0.14% |
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Sales per employee |
2,202.74 |
- |
1,825.60 |
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Profit per employee |
60.57 |
- |
96.62 |
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Return on capital |
0.08% |
0.09% |
0.14% |
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Net worth |
27.5 |
26.9 |
23.4 |
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Number of employees |
29 |
29 |
25 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.54.87 |
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1 |
Rs.86.46 |
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Euro |
1 |
Rs.69.49 |
INFORMATION DETAILS
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Report Prepared
by : |
PRL |
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.