MIRA INFORM REPORT

 

 

Report Date :

06.11.2012

 

IDENTIFICATION DETAILS

 

Name :

K-SERVIS PRAHA, A.S

 

 

Registered Office :

K Vypichu 503, 252 16 Nučice

 

 

Country :

Czech republic

 

 

Financials (as on) :

31.03.2012

 

 

Date of Incorporation :

14.12.2000

 

 

Com. Reg. No.:

B/6919               

 

 

Legal Form :

Public Limited Company                                                         

 

 

Line of Business :

Import and sale of dried fruit and nuts as well as of range  of products used as pet food          

 

 

No. of Employees :

18 employees                                          

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

Payment Behaviour :

Slow but Correct

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

(31.03.2012)

Current Rating

(30.06.2012)

Czech republic

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 


Czech Republic - ECONOMIC OVERVIEW

 

The Czech Republic is a stable and prosperous market economy, which harmonized its laws and regulations with those of the EU prior to its EU accession in 2004. While the conservative, inward-looking Czech financial system has remained relatively healthy, the small, open, export-driven Czech economy remains sensitive to changes in the economic performance of its main export markets, especially Germany. When Western Europe and Germany fell into recession in late 2008, demand for Czech goods plunged, leading to double digit drops in industrial production and exports. As a result, real GDP fell 4.7% in 2009, with most of the decline occurring during the first quarter. Real GDP, however, has slowly recovered with positive quarter-on-quarter growth starting in the second half of 2009 and continuing throughout 2011. The auto industry remains the largest single industry, and, together with its upstream suppliers, accounts for nearly 24% of Czech manufacturing. The Czech Republic produced more than a million cars for the first time in 2010, over 80% of which were exported. Foreign and domestic businesses alike voice concerns about corruption especially in public procurement. Other long term challenges include dealing with a rapidly aging population, funding an unsustainable pension and health care system, and diversifying away from manufacturing and toward a more high-tech, services-based, knowledge economy.

 

Source : CIA

 


Company name & address 

 

K-SERVIS PRAHA, a.s.      

K Vypichu 503

252 16 Nučice

Telephone:        00420/ 244 911 718          

Telefax:             00420/ 244 913 173            

e-mail:              k-servis@k-servis.com            

Web:                www.k-servis.com                    

 

 

company profile             

 

Company         Constant company development                                

development

 

Order situation Retrograde order situation                                      

Terms of        mostly no complaints, but occasional delays /              

payment        reminders                                                      

Business        Business connections appear permissible                         

connection

 

Legal form         Public limited company                                                         

Foundation        14/12/2000 - Public limited company                              

Comp. Register 14/12/2000, Městskýsoud v Praze, RegNr.: B/6919               

Statistical number: 26418711                                   

Tax number:      CZ26418711                                         

Share Capital    14/12/2000                          CZK        10 000 000,-     

                        13/05/2002                          CZK        20 000 000,-    

                        31/03/2004                          CZK        21 200 000,-    

                         212 pcs bearer shares at nominal value CZK 100.000- in documentary form                                            

 

Main                 Josef Kmoch (05.04.1972)                        %                    94    

Shareholder       Hrubého 1203/6, 182 00 Praha 8,                                

Kobylisy

Board of            Josef Kmoch (05.04.1972)                                       

Directors           Hrubého 1203/6, 182 00 Praha 8, Kobylisy chairman

EliškaKmochová (07.04.1977)                                   

Vestec 299, 252 42 Jesenice u Prahy

Jan Doubek (23.04.1974)                                         

KeKamínce 1288, 156 00 Praha 5                                

Tel:00420/ 244 911 718                                         

E-mail: doubek@k-servis.com                                          

Supervisory     Ing.OndřejDoubek (04.06.1976)                                

Board                Předvoje 26, 162 00 Praha 6                                    

Chairman Josef Kmoch (08.08.1944)                                       

Novodvorská 414/136, Praha 4 - Lhotka

PavelMalý (03.04.1981)                                        

Luštěnická 714/12, 197 00 Praha 9                              

General Data        Import and sale of dried fruit and nuts as well as of range  of products used as pet food.                                  

 

                Main activity:                                                 

                Wholesale of fruit and vegetables                        

                Trade name(s)                                                   

                K-SERVIS PRAHA, a.s.                                           

                Beginning of validity: 14.12.2000                              

                Export:         18%                                             

                European Union                                                 

                Import:                                                        

                European Union                                                 

                China                                                          

                India                                                          

                Indonesia                                                      

                Philippines                                                    

                Thailand                                                       

                Turkey                                                         

                Georgia                                                         

                Afghanistan                                                    

                Chile                                                          

                Argentina                                                       

                USA                                                            

                Australia                                                      

                General contacts:                                             

telephone:   00420/ 244 911 718                                             

telefax:  00420/ 244 913 173                                             

e-mail:                                                        

                k-servis@k-servis.com                                            

                Web:                                                           

                www.k-servis.com                                                 

                Address:                                                       

                K Vypichu  503, 252 16 Nučice

                Beginning of validity: 19.07.2012                               

Vídeňská 1E, 140 00 Praha 4, Písnice

                Beginning of validity: 14.12.2000                              

                End of validity: 19.07.2012                                    

                Warehouse of the business:                                      

 

Lipová 75, 289 12 Třebestovice

 

Staff        2008    16 employees                                           

                2009    17 employees                                           

                2010    17 employees                                           

                2011    17 employees                                           

                2012    18 employees                                           

 


Annual Sales      

2005            actual sales                                         CZK       514 113 000,-    

                2006            actual sales                                         CZK       514 113 000,-    

                2007            actual sales                                         CZK       478 753 000,-    

                2008            actual sales                                         CZK       456 627 000,-    

                2009            actual sales                                         CZK       526 769 000,-    

                2010            actual sales                                         CZK       549 533 000,-    

                2011            actual sales                                         CZK       487 575 000,-    

                2012            actual sales                                         CZK       474 959 000,-    

              

The inquired company is doing accounts in the business year   

lasting  from 1.4. till 31.3. Thus, the turnovers are stated   

always as of March 31 of the relevant year.                    

 

Property     

Property of the company: Business premises

(verified in the real estate registry)

CZ-289 12 Třebestovice, Lipová 75

Property of the company: Business premises

 

CZ-252 16 Nučice, K Vypichu  503

Balance sheets  The enclosed balance of 2012 company's own data, it is authenticated by the auditor. (31.03.2012 - 1 CZK)

 

The enclosed profit/loss account of 2012 company's own data, it is authenticated by the auditor. (31.03.2012 - 1 CZK)

 

The enclosed balance of 2011 from business register, it is     

authenticated by the auditor. (31.03.2011 - 1 CZK)             

 

The enclosed profit/loss account of 2011 from business         

register, it is authenticated by the auditor. (31.03.2011 - 1  

 

CZK)                                                           

The enclosed balance of 2010 from business register, it is     

authenticated by the auditor. (31.03.2010 - 1 CZK)             

 

The enclosed profit/loss account of 2010 from business         

register, it is authenticated by the auditor. (31.03.2010 - 1   CZK)                                                           

 

The enclosed balance of 2009 company's own data, it is authenticated by the auditor. (31.03.2009 - 1 CZK)

 

The enclosed profit/loss account of 2009 company's own data, it is authenticated by the auditor. (31.03.2009 - 1 CZK)

Remarks            All the sources of negative data accessible to public          

 (insolvency registers, databases of debtors of health           

insurance institutions, commercial bulletin, collection        

database of others) are currently monitored.  

 

 


Business management:                                           

                Josef Kmoch - executive director                                

                Jan Doubek - business director                                 

TomášPipota - economist, mobile phone 00420/ 602 103 629      

e-mail: pipota@k-servis.com                                      

 

 

Other entrepreneurial interests:

Josef Kmoch

 

- CORATEX, a.s., IČO 27 92 83 73, chairman of the Board of

Directors

 

- VULTUS, a.s., IČO 28 18 59 01, chairman of the Board of

Directors

 

- BELSTAR, a.s., IČO 25 78 75 43, chairman of the Board of

Directors

 

Bankers            GE Money Bank, a.s.                                     

 

Copyright:      This information is addressed exclusively to the addressee.    

Contractor obligates to provide updated information. Although  

s.r.o. Praha    it is always put maximum effort to collect actual and exact    

information, it is not confirmed as delinquency if there are   

particular inaccurateness contained within the information,    

which are not considered as essential in terms of the           

objective for which the information is provided to the         

addressee. Contractor and recipient conform to the rules of    

the Name and Description Security Act, Nub.101/2000. According 

to the Name and Description Security Act, recipient has the    

right to process or to use forwarding data only for the        

purpose for which information has been sent to the recipient.  

 

Usage for other purpose is acceptable only in case referring  to valid regulations of the above mentioned act.                

 

 

Financial data

 

balance                  31.03.2009    31.03.2010   31.03.2011    31.03.2012

                         (CZK)         (CZK)        (CZK)         (CZK)

>r1 >TOTAL ASSETS        >188 405 000  >228 263 000 >208 587 000  >349 674 000

r2 Receivables for       0                          0             0

subscriptions

>r3 >Fixed assets           >11 182 000    >9 837 000  >15 954 000  >113 997 000

>r4 >Intangible fixed                >0      >180 000     >404 000      >231 000

assets

r7 Software                                               404 000       231 000

r11 Intangible fixed                          180 000                           

assets under                                                                

construction

>r13 >Tangible fixed assets   >11 182 000    >9 657 000  >15 550 000  >113 766 000

r14 Lands                       489 000       489 000      489 000    22 291 000

r15 Constructions             6 179 000     6 038 000    5 897 000    77 068 000

r16 Equipment                 4 514 000     3 130 000    6 664 000     8 813 000

r21 Advance payments for                                 2 500 000     5 594 000

tangible fixed assets                                                       

>r23 >Long-term financial             >0            >0           >0            >0

assets

>r31 >Current assets        >177 223 000  >218 426 000 >192 364 000  >235 327 000

>r32 >Inventory              >63 451 000   >73 379 000  >76 861 000  >121 243 000

r37 Merchandise              63 451 000    73 379 000   76 861 000   121 243 000

>r39 >Long-term receivables             >0            >0           >0            >0

>r48 >Short-term            >106 504 000  >136 199 000  >97 841 000  >111 582 000

receivables

r49 Trade receivables       102 476 000   133 528 000   95 073 000   101 581 000

r54 Due from state - tax        448 000       720 000                           

receivable

r55 Short-term deposits       2 580 000     1 951 000    1 595 000     9 963 000

given

r57 Other receivables         1 000 000                  1 173 000        38 000

>r58 >Short-term financial    >7 268 000    >8 848 000  >17 662 000    >2 502 000

assets

r59 Cash                      3 594 000     2 646 000      744 000       402 000

r60 Bank accounts             3 674 000     6 202 000   16 918 000     2 100 000

>r63 >Accruals                        >0            >0     >269 000      >350 000

r64 Deferred expenses                                      269 000       350 000

>r67 >TOTAL LIABILITIES     >188 405 000  >228 263 000 >208 587 000  >349 674 000

>r68 >Equity                 >60 915 000   >63 601 000  >73 540 000   >77 959 000

>r69 >Registered capital     >21 200 000   >21 200 000  >21 200 000   >21 200 000

r70 Registered capital       21 200 000    21 200 000   21 200 000    21 200 000

>r73 >Capital funds          >13 800 000   >13 800 000  >13 800 000   >13 800 000

r74 Share premium            13 800 000    13 800 000   13 800 000    13 800 000

>r78 >Reserve funds,            >500 000      >500 000     >500 000      >500 000

statutory reserve                                                           

account for                                                                 

cooperatives, and                                                            

other retained                                                              

earnings

r79 Legal reserve fund /        500 000       500 000      500 000       500 000

indivisible fund                                                             

>r81 >Profit / loss -        >20 522 000   >25 415 000  >28 101 000   >38 041 000

previous years                                                              

r82 Retained earnings        20 522 000    25 415 000   28 101 000    38 041 000

from previous years                                                         

>r84 >Profit / loss -         >4 893 000    >2 686 000   >9 939 000    >4 418 000

current year  (+/-)                                                         

>r85 >Liabilities           >127 490 000  >164 662 000 >135 047 000  >271 521 000

>r86 >Reserves                        >0            >0           >0            >0

>r91 >Long-term payables              >0            >0  >16 951 000   >18 175 000

r100 Other payables                                      16 951 000    18 175 000

>r102 >Short-term payables    >96 309 000  >106 147 000 >118 096 000  >137 258 000

r103 Trade payables           92 798 000   100 819 000  115 185 000   134 653 000

r107 Payroll                     181 000       198 000      179 000       201 000

r108 Payables to social           97 000       106 000       96 000       108 000

securities and health                                                       

insurance

r109 Due from state - tax      2 353 000     3 678 000    2 174 000     1 711 000

liabilities and                                                             

subsidies

r110 Short-term deposits                                                   50 000

received

r112 Estimated payables          319 000     1 346 000                           

r113 Other payables              561 000                    462 000       535 000

>r114 >Bank loans and         >31 181 000   >58 515 000           >0  >116 088 000

financial

accommodations

r115 Long-term bank loans     20 181 000    18 515 000            0    74 088 000

r116 Short-term bank loans    11 000 000    40 000 000            0    42 000 000

r117 Short-term                        0             0            0             0

accommodations

>r118 >Accruals                        >0            >0           >0      >194 000

r120 Deferred revenues                                                    194 000

 

 

profit/loss account      31.03.2009    31.03.2010   31.03.2011    31.03.2012

                                 (CZK)         (CZK)        (CZK)         (CZK)

>a1 >Turnover              >526 769 000  >549 533 000 >487 575 000  >474 959 000

a2 Revenues from sold      526 743 000   549 506 000  487 006 000   474 378 000

goods

a3 Expenses on sold goods  484 520 000   509 896 000  447 397 000   428 094 000

>a4 >Sale margin            >42 223 000   >39 610 000  >39 609 000   >46 284 000

>a5 >Production                 >26 000       >27 000     >569 000      >581 000

a6 Revenues from own            26 000        27 000      569 000       581 000

products and services                                                       

>a9 >Production             >25 057 000   >28 759 000  >25 248 000   >25 334 000

consumption

a10 Consumption of            5 406 000     3 711 000    2 445 000     3 794 000

material and energy                                                         

a11 Services                 19 651 000    25 048 000   22 803 000    21 540 000

>a12 >Added value            >17 192 000   >10 878 000  >14 930 000   >21 531 000

>a13 >Personnel expenses      >3 444 000    >3 458 000   >3 556 000    >3 649 000

a14 Wages and salaries        2 560 000     2 624 000    2 646 000     2 727 000

a16 Social security             874 000       819 000      899 000       911 000

expenses and health                                                         

insurance

a17 Other social expenses        10 000        15 000       11 000        11 000

a18 Taxes and fees               56 000       146 000       67 000        76 000

a19 Depreciations of          1 324 000     1 525 000    1 888 000     3 689 000

intangible and                                                              

tangible assets                                                              

>a20 >Revenues from             >687 000            >0     >982 000    >2 501 000

disposals of fixed                                                          

assets and materials                                                        

a21 Revenues from               649 000                    982 000     2 493 000

disposals of fixed                                                          

assets

a22 Revenues from                38 000                                    8 000

disposals of materials                                                      

>a23 >Net book value of          >69 000            >0     >754 000    >2 109 000

disposed fixed assets                                                       

and materials                                                                

a24 Net book value of            69 000                    754 000     2 109 000

sold fixed assets                                                           

a26 Change in operating      -5 569 000      -851 000            0             0

reserves and                                                                

adjustments and                                                             

complex deferred                                                             

costs ( + / - )                                                             

a27 Other operating           1 188 000       310 000    1 712 000     1 041 000

revenues

a28 Other operating           6 739 000     1 517 000      675 000     1 374 000

expenses

>a31 >Operating profit /     >13 004 000    >5 393 000  >10 684 000   >14 176 000

loss

>a34 >Revenues from long-                           >0                           

term financial assets                                                        

a43 Interest revenues           195 000        43 000      158 000        48 000

a44 Interest expenses         3 485 000     2 169 000    1 299 000     2 853 000

a45 Other financial          17 414 000    20 221 000   15 295 000    12 972 000

revenues

a46 Other financial          20 185 000    18 529 000   11 203 000    18 166 000

expenses

>a49 >Profit / loss from     >-6 061 000     >-434 000   >2 951 000   >-7 999 000

financial operations                                                         

( transactions )                                                            

>a50 >Income tax on           >1 494 000    >1 053 000   >2 613 000    >1 305 000

ordinary income                                                             

a51 Due tax                   1 494 000     1 053 000    2 613 000     1 305 000

>a53 >Operating profit /      >5 449 000    >3 906 000  >11 022 000    >4 872 000

loss ordinary activity                                                       

a55 Extraordinary expenses       556 000     1 220 000      549 000       454 000

>a56 >Income tax on                                 >0     >534 000              

extraordinary income                                                        

a57 Due tax                                                534 000              

>a59 >Operating profit /       >-556 000   >-1 220 000  >-1 083 000     >-454 000

loss extraordinary                                                          

activity

>a61 >Profit / loss of        >4 893 000    >2 686 000   >9 939 000    >4 418 000

current accounting                                                          

period  (+/-)                                                               

>a62 >Profit / loss before    >6 387 000    >3 739 000  >13 086 000    >5 723 000

tax (+/-)                                                                   

>>Operating cash flow    >-3 791 000    >1 760 000    >-360 000   >84 963 000

>>Investment cash flow   >-1 926 000     >-180 000  >-7 777 000 >-101 348 000

>>Financial cash flow       >-42 000            >0  >16 951 000    >1 224 000

>>Receivables after      >48 762 000   >55 352 000  >44 151 000   >55 058 000

due date total                                                              

   Receivables more than       851 000     1 869 000      114 000       383 000

   180 days after due                                                          

date

>>Liabilities after       >3 164 000    >3 709 000   >2 689 000    >2 315 000

due date total                                                               

   Liabilities more than             0             0            0             0

   180 days after due                                                          

date

Balance indices             31.03.2009    31.03.2010   31.03.2011    31.03.2012

Return on       a62/r1 *          3,39          1,64         6,27          1,64

total assets    100                                                            

ROA (in %)                                                                      

Return on       a62/r68          10,49          5,88        17,79          7,34

equity ROE (in  * 100                                                          

%)                                                                              

Return on       a62/a1 *          1,21          0,68         2,68          1,20

sales ROS (in   100                                                            

%)                                                                              

Turnover of     r49/a1 *         71,01         88,69        71,17         78,06

receivables     365                                                            

(in days)                                                                      

Turnover of     r103/a1          64,30         66,96        86,23        103,48

liabilities     * 365                                                          

(in days)                                                                      

Turnover of     r32/a1 *         43,97         48,74        57,54         93,17

inventories     365                                                            

(days)                                                                         

Net working     r31 -        69 914,00     72 279,00    74 268,00     56 069,00

capital (in     r102 -                                                         

ths. CZK)       r116 -                                                         

                r117                                                            

Ratio of        (r39+           110,59        128,31        72,45         71,79

accounts        r48) /                                                         

payable to      (r91+                                                           

accounts        r102) *                                                        

receivable (in  100                                                            

%)                                                                              

Ratio of        r3 / a1           2,12          1,79         3,27         24,00

profit/loss to  * 100                                                          

tangible

assets (in%)                                                                    

Current ratio   r31 /             1,65          1,49         1,63          1,31

                (r102+                                                         

r116+                                                          

                r117)                                                          

Quick ratio     (r58+             1,06          0,99         0,98          0,64

                r48) /                                                         

                (r102+                                                          

r116+                                                          

                r117)                                                          

Cash ratio      r58 /             0,07          0,06         0,15          0,01

                (r102+                                                         

r116+                                                          

                r117)                                                          

Debt ratio I    (1-r68/          67,67         72,14        64,74         77,71

(in %)          r67) *                                                         

                100                                                            

Debt ratio II   r85/r67          67,67         72,14        64,74         77,65

(in %)          * 100                                                          

 


FOREIGN EXCHANGE RATES

 

Currency

Unit

Indian Rupees

US Dollar

1

Rs.54.08

UK Pound

1

Rs.86.69

Euro

1

Rs.69.37

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

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

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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%)

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.