MIRA
INFORM REPORT
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Report Date : |
02.11.2012 |
IDENTIFICATION DETAILS
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Name : |
STEELFORCE |
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Registered Office : |
Lange Klarenstraat 16 20 Antwerpen, 2000 |
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Country : |
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Financials (as on) : |
30.09.2011 |
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Year of Establishment : |
1950 |
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Com. Reg. No.: |
402950965 |
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Legal Form : |
Private Subsidiary |
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Line of Business : |
Wholesale of metals and ores |
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No. of Employees : |
60 |
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
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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 |
BELGIUM - ECONOMIC OVERVIEW
This modern, open, and
private-enterprise-based economy has capitalized on its central geographic
location, highly developed transport network, and diversified industrial and
commercial base. Industry is concentrated mainly in the more heavily-populated
region of Flanders in the north. With few natural resources, Belgium imports
substantial quantities of raw materials and exports a large volume of
manufactures, making its economy vulnerable to volatility in world markets.
Roughly three-quarters of Belgium's trade is with other EU countries, and
Belgium has benefited most from its proximity to Germany. In 2011 Belgian GDP
grew by 2.0%, the unemployment rate decreased slightly to 7.7% from 8.3% the
previous year, and the government reduced the budget deficit from a peak of 6%
of GDP in 2009 to 4.2% in 2011. Despite the relative improvement in Belgium's
budget deficit, public debt hovers near 100% of GDP, a factor that has
contributed to investor perceptions that the country is increasingly vulnerable
to spillover from the euro-zone crisis. Belgian banks were severely affected by
the international financial crisis in 2008 with three major banks receiving
capital injections from the government, and the nationalization of the Belgian
arm of a Franco-Belgian bank. An ageing population and rising social
expenditures are mid- to long-term challenges to public finances.
Source
: CIA
Company name and address
Steelforce
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Business
Description
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Wholesale of metals and metal ores |
Industry
|
Industry |
Miscellaneous Capital Goods |
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ANZSIC 2006: |
3322 - Metal and Mineral Wholesaling |
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NACE 2002: |
5152 - Wholesale of metals and ores |
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NAICS 2002: |
423520 - Coal and Other Mineral and Ore
Merchant Wholesalers |
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UK SIC 2003: |
5152 - Wholesale of metals and ores |
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US SIC 1987: |
505 - Metals and Minerals, Except
Petroleum |
Key Executives
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News
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1 - Profit & Loss
Item Exchange Rate: USD 1 = EUR 0.717768
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7453231
Corporate Overview
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Corporate Structure News
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Steelforce |
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
|
Parent |
Antwerpen |
Belgium |
Miscellaneous Capital Goods |
4.0 |
20 |
|
|
Subsidiary |
Antwerpen |
Belgium |
Miscellaneous Capital Goods |
653.0 |
60 |
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|
Subsidiary |
Antwerpen |
Belgium |
Miscellaneous Capital Goods |
512.5 |
35 |
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|
Subsidiary |
Antwerpen |
Belgium |
Miscellaneous Capital Goods |
172.8 |
12 |
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Subsidiary |
Melden |
Belgium |
Miscellaneous Capital Goods |
22.0 |
15 |
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|
Subsidiary |
Antwerpen |
Belgium |
Miscellaneous Capital Goods |
143.5 |
10 |
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|
Subsidiary |
Bruxelles |
Belgium |
Computer Services |
1.8 |
2 |
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|
Subsidiary |
Bruxelles |
Belgium |
Food Processing |
11.9 |
9 |
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Subsidiary |
Antwerpen |
Belgium |
Miscellaneous Capital Goods |
43.4 |
5 |
Executives Report
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Annual Profit & Loss
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|
30-Sep-2011 |
30-Sep-2010 |
30-Sep-2009 |
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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) |
0.717768 |
0.740255 |
0.73971 |
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Consolidated |
No |
No |
No |
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Turnover |
653.0 |
512.5 |
486.5 |
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Other Operating Income |
0.9 |
0.7 |
1.9 |
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Operating Income |
653.9 |
513.2 |
488.4 |
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Purchases |
632.6 |
512.1 |
458.0 |
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Increase or Decrease
in Stocks |
0.7 |
-20.0 |
3.7 |
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Raw Materials, Consumables, and Goods for
Release |
633.3 |
492.2 |
461.8 |
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Services and Sundry Goods |
7.3 |
8.2 |
7.4 |
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Remuneration, Social Security Charges, and
Pensions |
6.3 |
5.1 |
5.7 |
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Depreciation of and Other Amounts Written Off of
Formation Expense, Intangible and Tangible Fixed Assets |
0.1 |
0.1 |
0.1 |
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Increase or Decrease in Amounts Written Off
Stocks, Orders, and Trade Debtors |
0.2 |
-0.3 |
0.6 |
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Other Operating Charges |
0.0 |
0.3 |
0.0 |
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Operating Charges |
647.2 |
505.7 |
475.6 |
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Income From Financial Fixed Assets |
0.0 |
- |
- |
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Income From Current Assets |
- |
0.0 |
0.1 |
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Other Financial Income |
14.1 |
16.8 |
6.7 |
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Financial Income |
14.1 |
16.8 |
6.9 |
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Interest and Other Debt Charges |
6.3 |
5.8 |
6.7 |
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Other Financial Charges |
13.0 |
17.9 |
7.0 |
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Financial Charges |
19.3 |
23.7 |
13.7 |
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Income Taxes |
0.4 |
0.0 |
2.0 |
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Income Taxes |
0.4 |
0.0 |
2.0 |
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To Other Reserves |
13.5 |
- |
- |
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Transfers to Capital and Reserves |
13.5 |
- |
- |
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Return on Capital |
- |
- |
2.3 |
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Profit to be Distributed |
- |
- |
2.3 |
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Employees |
60 |
38 |
35 |
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Annual Balance
Sheet |
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Financials in:
USD (mil) |
|
|
30-Sep-2011 |
30-Sep-2010 |
30-Sep-2009 |
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Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.745323 |
0.732493 |
0.684135 |
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Consolidated |
No |
No |
No |
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Formation Expenses |
- |
0.0 |
0.0 |
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Intangible Assets |
0.0 |
0.0 |
0.0 |
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Land & Buildings |
1.0 |
1.1 |
1.3 |
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Furniture and Vehicles |
0.2 |
0.2 |
0.2 |
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Leasing and Other
Similar Rights |
- |
0.0 |
0.0 |
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Tangible Assets |
1.2 |
1.3 |
1.4 |
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Participating
Interests |
0.1 |
0.1 |
0.1 |
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Affiliated Enterprises |
0.1 |
0.1 |
0.1 |
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Amounts Receivable and
Cash Guarantees |
0.3 |
0.1 |
0.1 |
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Other Capital Assets |
0.3 |
0.1 |
0.1 |
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Capital Assets |
0.4 |
0.1 |
0.2 |
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Fixed Assets |
1.6 |
1.4 |
1.6 |
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Goods Purchased for
Resale |
35.4 |
35.3 |
16.4 |
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Stocks |
35.4 |
35.3 |
16.4 |
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Inventory and Orders in Progress |
35.4 |
35.3 |
16.4 |
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Trade Debtors |
110.1 |
55.0 |
56.5 |
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Other Amounts
Receivable |
0.2 |
0.7 |
1.7 |
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Amounts Receivable Within One Year |
110.3 |
55.8 |
58.2 |
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Other Investments and
Deposits |
- |
0.2 |
- |
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Investments |
- |
0.2 |
- |
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Liquid Assets |
2.6 |
0.5 |
0.8 |
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Adjustment Accounts |
0.3 |
0.1 |
0.0 |
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Current Assets |
148.5 |
91.8 |
75.4 |
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Total Assets |
150.1 |
93.3 |
77.1 |
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Issued Capital |
3.0 |
3.0 |
3.3 |
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Capital |
3.0 |
3.0 |
3.3 |
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Legal Reserve |
0.3 |
0.3 |
0.3 |
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Other |
0.0 |
0.0 |
0.0 |
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Reserves Not Available
for Distribution |
0.0 |
0.0 |
0.0 |
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Untaxed Reserves |
0.0 |
0.0 |
0.0 |
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Reserves Available for
Distribution |
15.3 |
2.4 |
2.5 |
|
Reserves |
15.7 |
2.7 |
2.9 |
|
Capital and Reserves |
18.7 |
18.0 |
18.7 |
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Leasing and Other
Similar Obligations |
- |
- |
0.0 |
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Credit Institutions |
- |
0.1 |
0.2 |
|
Financial Debts |
- |
0.1 |
0.2 |
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Amounts Due After More Than One Year |
- |
0.1 |
0.2 |
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Current Portion of
Amounts Payable After More Than One Year |
0.1 |
0.1 |
0.3 |
|
Credit Institutions |
95.7 |
31.5 |
25.1 |
|
Financial Debts |
95.7 |
31.5 |
25.1 |
|
Suppliers |
33.0 |
42.0 |
28.0 |
|
Trade Debts |
33.0 |
42.0 |
28.0 |
|
Taxes |
0.0 |
0.0 |
0.8 |
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Remuneration and
Social Security |
1.2 |
0.5 |
0.6 |
|
Taxes, Wages, and
Social Security |
1.2 |
0.5 |
1.4 |
|
Other Amounts Payable |
- |
0.0 |
2.5 |
|
Amounts Payable Within One Year |
130.0 |
74.2 |
57.3 |
|
Adjustment Accounts |
1.5 |
1.0 |
0.9 |
|
Creditors |
131.5 |
75.3 |
58.3 |
|
Total Liabilities + Shareholders' Equity |
150.1 |
93.3 |
77.1 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.78 |
|
|
1 |
Rs.86.77 |
|
Euro |
1 |
Rs.69.71 |
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 |
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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 |
|
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 |
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-- |
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.