MIRA INFORM REPORT

 

 

Report Date :

30.05.2012

 

IDENTIFICATION DETAILS

 

Name :

RAFICON TRADE SRL

 

 

Registered Office :

Aleea Industriilor 2 120068 Buzau Buzau

 

 

Country :

Romania

 

 

Financials (as on) :

30.06.2011

 

 

Date of Incorporation :

29.05.2012

 

 

Com. Reg. No.:

No. J10/864/2003

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Manufacture of plastic packing goods

 

 

No. of Employees :

24

 

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

 

Status :

Satisfactory

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)

Romania

B1

B1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

 

 

 

 

COMPANY name and address    

 

 

 

 

RAFICON TRADE SRL

Principal Address:
Aleea Industriilor 2
120068 Buzau
Buzau
Romania
Telephone: +40-238-725070, +40-238-725010, +40-238-725029, +40-724-311626
Fax: +40-238-725070
Email: raficon@buzau.ro
Web: www.raficon.buzau.ro

 

 

Former company addresses
Former Principal Address:
Unirii Bl.128, Sc.A, Et.1, Ap.3
120281 Buzau, Jud.Buzau
Romania

 

 

ICON number: 57890780
National ID: J10/864/2003
VAT number: 14293563

 

 

Registration status: 2001 - registered company
Activity status: 2001 - active company

 

 

 

 

 

CREDIT INFORMATION SUMMARY  

 

 

 

Insolvency Information:

According to available information sources the company is not in a insolvency/preliminary/debt regulation proceeding.

 

 

 

 

 

 

 

Payment Practices:

Payments are made mostly according to terms
There are no major payment incidents registered between 05-01-2005 - 05-01-2012.

According to official sources (Ministry of Finance) the subject company is not registered with any debt to the State Budget at 31.03.2012.

 

 

 

Further Rating Information:

Researched company is categorized as a small company.
The company generated a turnover of RON 1.836.261 in the year 30.06.2011.

 

 

 

Debt Collection:

There is no record of any debt collection action against this company exceeding a single case volume of EUR 500.

 

 

COMPANY DETAILS      

 

 

 

Established:

2001

 

 

 

Registration:

No. J10/864/2003
15.10.2003
Buzau, Romania

 

 

 

Former Registration:

No. J13/1951/2001
2001
Constanta, Romania

 

 

 

Legal Form:

Limited Liability Company

 

 

 

Capital:

Nominal capital:

 

RON 50.000,00

Number of Ordinary shares:

5.000

 

Value per share of Ordinary shares:

RON 10,00

 

 

Paid-up capital:

 

RON 50.000,00

 

 

 

 

Shareholders:

Full Name

Function

Address

Equity capital

LUNCASU RAUL IONUT

Shareholder

Romania

100,00%
5.000 Ordinary shares

 

 

 

Former Shareholders:

Full Name

Function

Address

Equity capital

LUNCASU MIHAELA

Former Shareholder

Romania

33,34%
1.667 Ordinary shares

SUKRU MUTLU

Former Shareholder

Turkey

33,33%

 

 

 

Management:

Full Name

Function

Address

LUNCASU RAUL IONUT
15.10.2003 - Present

Director

Romania



LUNCASU I. RAUL IONUT is registered both as shareholder and administrator within the following companies:
- M PACK SRL; J10/606/2003
- FILTER TECHNOLOGY SRL; J10/696/2009

 

 

KEY DATA ON OPERATIONS      

 

 

 

Subject of Operation:

NACE
  main activity:
  2222 Manufacture of plastic packing goods

  1812 Other printing

Manufacture of plastic packagings - BIG BAGS (JUMBO BAGS) for the mining and chemical industry, plstics, pet food, food, chemicals, pharmaceuticals, rubber.
NACE codes given are based on the most recent NACE Revision 2.

 

 

 

Company Development:

300: Satisfactory business development

 

 

 

Key Data:

Amounts shown in Romanian Leu (New) (RON)

 

01.01.2011-30.06.2011

2010

2009

2008

Turnover

1.836.261

3.075.280

1.828.560

2.385.663

Fixed assets

1.147.748

1.173.108

1.341.037

1.302.529

Equity capital

993.124

707.525

419.563

195.413

Profit after taxation

285.599

287.094

224.150

121.800

Operating result - profit

336.254

441.180

411.699

356.772

 

 

01.01.2011-30.06.2011

2010

2009

2008

Return on assets ( ROA )
Net profit / Total assets

0,11

0,15

-

-

Return on equity ( ROE )
Net profit / Shareholder equity

0,29

0,41

0,53

0,62

 

 

 

Workforce:

 

30.06.2011

2010

2009

2008

Total workforce

24

8

10

39

 

 

 

 

FINANCIAL INFORMATION   

 

 

 

Financials:

Amounts shown in Romanian Leu (New) (RON)  

01.01.2011-30.06.2011

2010

2009

2008






BALANCE SHEET

 

FIXED ASSETS

1.147.748

1.173.108

1.341.037

1.302.529

 

Intangible assets

249

249

0

0

 

Tangible assets

1.147.499

1.172.859

1.341.037

1.302.529

 

Financial fixed assets

0

0

0

0

 

CURRENT ASSETS

1.490.641

689.178

360.911

307.777

 

Inventory

1.079.755

211.910

106.147

29.582

 

Claims (receivable)

382.030

368.081

131.089

188.585

 

Liquid assets

28.856

109.187

123.675

89.610

 

SHORT TERM FINANCIAL INVESTMENTS

0

0

0

0

 

PREPAID EXPENSES

0

0

0

0

 

TOTAL ASSETS

2.638.389

1.862.286

 

 

 

EQUITY CAPITAL

993.124

707.525

419.563

195.413

 

Share capital

50.000

50.000

50.000

50.000

 

Subscribed and paid capital

50.000

50.000

50.000

50.000

 

Reserves

342.948

63.354

53.396

53.396

 

Short-term liabilities

986.176

432.199

459.673

1.414.893

 

Long-term liabilities

659.089

722.562

822.712

0

 

TOTAL DEBTS

1.645.265

1.154.761

1.282.385

1.414.893

 

Provisions for risks and charges

0

0

0

0

 

Deferred income

0

0

0

0

 

TOTAL EQUITY AND LIABILITIES

2.638.389

1.862.286

 

 






PROFIT AND LOSS

 

Turnover

1.836.261

3.075.280

1.828.560

2.385.663

 

TOTAL INCOME

1.940.823

3.227.733

1.856.993

2.243.027

 

Operating income

1.852.510

3.118.631

1.827.864

2.220.535

 

Income from financial transactions (financial income)

88.313

109.102

29.129

22.492

 

Extraordinary income

0

0

0

0

 

TOTAL EXPENSES

1.598.655

2.844.312

1.590.036

2.102.627

 

Operating expenses

1.516.256

2.677.451

1.416.165

1.863.763

 

Depreciation of non-current assets

25.360

263.178

 

 

 

Depreciation (impairment) of current assets

0

0

 

 

 

Expenses on financial transactions (financial expenditures)

82.399

166.861

173.871

238.864

 

Extraordinary expenses

0

0

0

0

 

Operating result - profit

336.254

441.180

411.699

356.772

 

Operating result - loss

0

0

0

0

 

Profit on financial transactions (financial profit)

5.914

0

0

0

 

Loss on financial transactions (financial loss)

0

57.759

144.742

216.372

 

Current result - profit

342.168

383.421

266.957

140.400

 

Current result - loss

0

0

0

0

 

Extraordinary profit

0

0

0

0

 

Extraordinary loss

0

0

0

0

 

Profit before taxation

342.168

383.421

266.957

140.400

 

Loss before taxation

0

0

0

0

 

Profit after taxation

285.599

287.094

224.150

121.800

 

Loss after taxation

0

0

0

0

 

Profit tax

56.569

96.327

42.807

18.600



 

 

 

Approximate Exchange Rates:

2011: 4,2379 RON = 1 EUR
2010: 4,2099 RON = 1 EUR
2009: 4,2373 RON = 1 EUR
2008: 3,6827 RON = 1 EUR
2007: 3,332 RON = 1 EUR
2011: 3,0486 RON = 1 USD
2010: 3,1779 RON = 1 USD
2009: 3,0493 RON = 1 USD
2008: 2,5189 RON = 1 USD
2007: 2,4383 RON = 1 USD

 

 

 

Financial Comments:

The 30.06.2011 financial data is provided by public sources.

 

 

 

Bankers:

ALPHA BANK ROMANIA SA
010566 Bucuresti, Sector 1, Calea Dorobanti 237B

BANCA COMERCIALA ROMANA SA BUCURESTI SUCURSALA BUZAU
120267 Buzau, Jud. Buzau, Unirii 207, Bl.19CD

BANCPOST SA - Account no. RO02BPOS10007427951RON01
020337 Sector 2, Bd. Dimitrie Pompeiu 6A

BANCPOST SA - Account no. RO34BPOS10007427951EUR01
020337 Sector 2, Bd. Dimitrie Pompeiu 6A

BANCPOST SA - Account no. RO78BPOS10007427951USD01
020337 Sector 2, Bd. Dimitrie Pompeiu 6A

 

 

 

Ratios:

 

01.01.2011-30.06.2011

2010

2009

2008

Debt Ratio
(Short-term liabilities + Long-term liabilities) / Total Assets

0,62

0,62

-

-

Quick ratio
(Current assets - Inventory)/Current liabilities

0,42

1,10

0,55

0,20

Current ratio ( CR )
Current assets / Current liabilities

1,51

1,59

0,79

0,22

Leverage
Long Term Liabilities / Total Equity

0,66

1,02

1,96

0

Return on sales ( ROS )
Net profit / Turnover

0,16

0,09

0,12

0,05

Return on assets ( ROA )
Net profit / Total assets

0,11

0,15

-

-

Return on equity ( ROE )
Net profit / Shareholder equity

0,29

0,41

0,53

0,62

Operating margin, in %
Operating result / Sales

18,31

14,35

22,51

14,95

Days supply in inventory
(Inventory / Turnover) * No. of days in period

105,84

25,15

21,19

4,53

Days sales in receivables
(Receivables / Turnover) * No. of days in period

37,45

43,69

26,17

28,85

Days purchase in payables
(Current Liabilities / Turnover) * No. of days in period

96,67

51,30

91,76

216,47

Sales to Total Assets
Sales / Total assets

0,70

1,65

-

-

Operating result / Total assets
Operating result / Total assets

0,13

0,24

-

-

Cash ratio
Cash / Current liabilities

0,03

0,25

0,27

0,06

Equity as % of total assets
(Equity capital / Total Assets) * 100

37,64

37,99

-

-

Fixed assets as % of total assets
(Fixed assests / Total assets) * 100

43,50

62,99

-

-

Receivables as % of current assets
(Receivables / Current assets) * 100

25,63

53,41

36,32

61,27

Net working capital
Current assets - Short-term liabilities

RON 504.465,00

RON 256.979,00

RON -98.762,00

RON -1.107.116,00

 


ADDITIONAL INFORMATION      

 

 

 

Press Releases:

There is no relevant media information regarding the subject company.

 

 

 

Central Register of Right of Liens:

For the subject company, there are 3 in ROMARHIVA - Electronic Archive for Secured Transactions.

 

 

 

Trials records:

According to the Ministry of Justice there are no opened files regarding summon for payment/payment ordinance for the subject company.

 

 

 

 

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.58

UK Pound

1

Rs.87.14

Euro

1

Rs.69.73

 

 

INFORMATION DETAILS

 

Report Prepared by :

PRL

 

 

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.