MIRA INFORM REPORT

 

 

Report Date :

07.11.2012

 

IDENTIFICATION DETAILS

 

Name :

MARROQUINERIA DINMAR SL

 

 

Registered Office :

C/ Fernan Caballero , 12-B., Ubrique, 11600

 

 

Country :

Spain

 

 

Financials (as on) :

31.12.2011

 

 

Year of Establishment :

2002

 

 

Com. Reg. No.:

B11563210

 

 

Legal Form :

Private Independent Company

 

 

Line of Business :

Manufacturer of luggage, handbags and the like, saddlery and harness

 

 

No. of Employees :

07 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

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)

Spain

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

spain - ECONOMIC OVERVIEW

 

spain's mixed capitalist economy is the 13th largest in the world, and its per capita income roughly matches that of Germany and France. However, after almost 15 years of above average GDP growth, the Spanish economy began to slow in late 2007 and entered into a recession in the second quarter of 2008. GDP contracted by 3.7% in 2009, ending a 16-year growth trend, and by another 0.1% in 2010, before turning positive in 2011, making Spain the last major economy to emerge from the global recession. The reversal in Spain''s economic growth reflected a significant decline in construction amid an oversupply of housing and falling consumer spending, while exports actually have begun to grow. Government efforts to boost the economy through stimulus spending, extended unemployment benefits, and loan guarantees did not prevent a sharp rise in the unemployment rate, which rose from a low of about 8% in 2007 to over 20% in 2011. The government budget deficit worsened from 3.8% of GDP in 2008 to 9.2% of GDP in 2010, more than three times the euro-zone limit. Madrid cut the deficit to 8.5% of GDP in 2011, a larger deficit than the 6% target negotiated between Spain and the EU. Spain''s large budget deficit and poor economic growth prospects have made it vulnerable to financial contagion from other highly-indebted euro zone members despite the government''s efforts to cut spending, privatize industries, and boost competitiveness through labor market reforms. Spanish banks'' high exposure to the collapsed domestic construction and real estate market also poses a continued risk for the sector. The government oversaw a restructuring of the savings bank sector in 2010, and provided some $15 billion in capital to various institutions. Investors remain concerned that Madrid may need to bail out more troubled banks. The Bank of Spain, however, is seeking to boost confidence in the financial sector by pressuring banks to come clean about their losses and consolidate into stronger groups.

 

Source : CIA

Company name & address 

 

Marroquineria Dinmar Sl

C/ Fernan Caballero , 12-B.

Ubrique, 11600

Spain

Tel:       +(34) 956460407

 

 

Synthesis     

 

Employees:                  7

Company Type:            Private Independent

Incorporation Date:         2002   

Financials in:                 USD (Millions)

Fiscal Year End:                       11-Sep-2012

Reporting Currency:       Euro

Annual Sales:               5.5  1

Net Income:                  0.1

Total Assets:                3.5

 

 

Business Description     

 

Manufacture of luggage, handbags and the like, saddlery and harness

 

Industry             

Industry            Apparel and Accessories

ANZSIC 2006:    1320 - Leather Tanning, Fur Dressing and Leather Product Manufacturing

NACE 2002:      1920 - Manufacture of luggage, handbags and the like, saddlery and harness

NAICS 2002:     31699 - Other Leather and Allied Product Manufacturing

UK SIC 2003:    1920 - Manufacture of luggage, handbags and the like, saddlery and harness

UK SIC 2007:    1512 - Manufacture of luggage, handbags and the like, saddlery and harness

US SIC 1987:    31 - Leather and Leather Products

 

           

Key Executives   

 

Name                           Title    

Galindo Morillo Pedro     Director/General Manager, Administrator 

 

Registered No.(ESP):     B11563210

 

1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7689351

2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7821023

Corporate Overview

 

Location

C/ Fernan Caballero , 12-B.

Ubrique, 11600

Spain

Tel:       +(34) 956460407

           

Sales EUR(mil)  :           4.3

Assets EUR(mil):           2.7

Employees:                   7

Fiscal Year End:            11-Sep-2012

Industry:                        Apparel and Accessories

Incorporation Date:         2002

Company Type:             Private Independent

Quoted Status:              Not Quoted

Registered No.(ESP):     B11563210

 

Director/General Manager,

Administrator:                Galindo Morillo Pedro

 

Contents

Industry Codes

Business Description

Financial Data

Key Corporate Relationships

 

Industry Codes

 

ANZSIC 2006 Codes:

1320     -          Leather Tanning, Fur Dressing and Leather Product Manufacturing

 

NACE 2002 Codes:

1920     -          Manufacture of luggage, handbags and the like, saddlery and harness

 

NAICS 2002 Codes:

31699   -          Other Leather and Allied Product Manufacturing

 

US SIC 1987:

31         -          Leather and Leather Products

 

UK SIC 2003:

1920     -          Manufacture of luggage, handbags and the like, saddlery and harness

 

UK SIC 2007:

1512     -          Manufacture of luggage, handbags and the like, saddlery and harness

 

Business Description

Manufacture of luggage, handbags and the like, saddlery and harness

 

 

 

Financial Data

Financials in:

EUR(mil)

 

Revenue:

4.3

Net Income:

0.1

Assets:

2.7

Current Assets:

1.6

 

Fixed Assets:

1.1

 

Long Term Debt:

0.0

 

Total Liabilities:

2.7

 

Issued Capital:

0.0

 

Net Worth:

0.6

 

 

 

Date of Financial Data:

11-Sep-2012

 

1 Year Growth

NA

NA

NA

Key Corporate Relationships

Bank:

Banco Bilbao Vizcaya Argentaria, S.A.

 

 

 

 

 

 

 

 


executive report

 

Executives

 

Name

Title

Function

 

Galindo Morillo Pedro

 

Director/General Manager, Administrator

Division Head Executive

 

 


Annual Profit & Loss

 

 

 

31-Dec-2011

31-Dec-2010

31-Dec-2009

Period Length

12 Months

12 Months

12 Months

Filed Currency

EUR

EUR

EUR

Exchange Rate (Period Average)

0.71919

0.755078

0.719047

Consolidated

No

No

No

 

 

 

 

Charges

5.9

7.1

6.2

    Staff Costs

0.2

0.2

0.1

        Wages and Salaries

0.2

0.1

0.1

        Social Security Costs

0.0

0.0

0.0

    Depreciation

0.0

0.0

0.0

    Other Operating Charges

0.9

0.9

0.9

Operating Benefits

0.2

0.1

0.1

    Financials and Similar Charges

0.1

0.1

0.1

        Due to Liabilities With Group Companies

0.1

0.1

0.0

        Due to Other Liabilities

0.0

0.0

0.0

Profit From Ordinary Activities

0.1

0.1

0.1

    Losses From Assets and Securities Portfolio

0.0

-

-

Extraordinary Profit

0.0

0.0

0.0

Profit Before Taxes

0.1

0.1

0.1

    Corporation Tax

0.0

0.0

0.0

Financial Year Result (Profit)

0.1

0.1

0.0

Income

5.9

7.1

6.2

    Net Total Sales

5.9

7.1

6.2

Negative Financial Results

0.1

0.1

0.0

    Extraordinary Income

0.0

0.0

0.0

 

 

Annual Balance Sheet

Financials in: USD (mil)

 

 

 

31-Dec-2011

31-Dec-2010

31-Dec-2009

Filed Currency

EUR

EUR

EUR

Exchange Rate

0.770327

0.745406

0.696986

Consolidated

No

No

No

 

 

 

 

    Total Tangible Fixed Assets

0.0

0.0

0.0

    Financial Investments

1.4

0.9

0.9

Total Fixed Assets

1.5

0.9

0.9

    Total Stocks

0.7

0.2

0.2

    Total Debtors

1.1

1.5

1.5

    Total Short-Term Investments

0.0

0.0

0.0

    Cash

0.3

0.2

0.4

    Prepayments and Accrued Income

-

0.0

0.0

Total Current Assets

2.0

2.0

2.3

Total Assets

3.5

2.9

3.2

    Total Reserves

0.7

0.5

0.5

    Profit or Loss for the Financial Year

0.1

0.1

0.0

Total Equity

0.8

0.6

0.6

Total Short Term Creditors

2.7

2.3

2.6

Total Liabilities and Equity

3.5

2.9

3.2

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.60

UK Pound

1

Rs.87.31

Euro

1

Rs.69.86

 

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

----

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.