MIRA
INFORM REPORT
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Report Date : |
09.11.2012 |
IDENTIFICATION DETAILS
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Name : |
DECOSTER CAULIEZ |
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Registered Office : |
109 Rue De Bethune, La Gorgue, 59253 |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
15.01.1965 |
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Com. Reg. No.: |
446550113 |
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Legal Form : |
Private Independent Company |
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Line of Business : |
Subject engaged in bleaching, dyeing and printing (including
thermo-printing) of not self-produced textiles fibres, yarns, fabrics and
textile articles, including wearing apparel; and dressing, drying, steaming,
shrinking, sanforising, mercerising of not self-produced textiles and textile
articles including wearing apparel. |
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No. of Employees : |
61 employees |
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
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Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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France |
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 |
France - ECONOMIC OVERVIEW
France was transitioning from an economy that has featured extensive
government ownership and intervention to one that relies more on market
mechanisms but is in the midst of a euro-zone crisis. The government has
partially or fully privatized many large companies, banks, and insurers, and
has ceded stakes in such leading firms as Air France, France Telecom, Renault,
and Thales. It maintains a strong presence in some sectors, particularly power,
public transport, and defense industries. With at least 75 million foreign
tourists per year, France is the most visited country in the world and
maintains the third largest income in the world from tourism. France's leaders
remain committed to a capitalism in which they maintain social equity by means
of laws, tax policies, and social spending that reduce income disparity and the
impact of free markets on public health and welfare. France's real GDP
contracted 2.6% in 2009, but recovered somewhat in 2010 and 2011. The
unemployment rate increased from 7.4% in 2008 to 9.3% in 2010 and 9.1% in 2011.
Lower-than-expected growth and increased unemployment have cut government
revenues and increased borrowing costs, contributing to a deterioration of
France's public finances. The government budget deficit rose sharply from 3.4%
of GDP in 2008 to 7.5% of GDP in 2009 before improving to 5.8% of GDP in 2011,
while France's public debt rose from 68% of GDP to 86% over the same period.
Under President SARKOZY, Paris implemented austerity measures that eliminated
tax credits and froze most government spending in an effort to bring the budget
deficit under the 3% euro-zone ceiling by 2013 and to highlight France's
commitment to fiscal discipline at a time of intense financial market scrutiny
of euro-zone debt levels. Socialist Francois HOLLANDE won the May 2012
presidential election, after advocating pro-growth economic policies, as well
as measures such as forcing banks to separate their traditional deposit taking
and lending activities from more speculative businesses, increasing taxes on
bank profits, introducing a new top bracket on income taxes for people earning
over €1 million ($1.3 million) a year, and hiring an additional 60,000 civil
servants during his five-year term of office.
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Source : CIA |
Company name & address
Decoster Cauliez
109 Rue De Bethune
La Gorgue, 59253
France
Tel: +33 03 28 42 95 55
Synthesis
Employees: 61
Company Type: Private Independent
Incorporation Date: 15-Jan-1965
Financials in:` USd (Millions)
Fiscal Year End: 31-Dec-2011
Reporting Currency: Euro
Annual Sales: 13.2
Total Assets: 8.0
Business Description
Decoster Cauliez is primarily engaged in bleaching, dyeing and printing (including thermo-printing) of not self-produced textiles fibres, yarns, fabrics and textile articles, including wearing apparel; and dressing, drying, steaming, shrinking, sanforising, mercerising of not self-produced textiles and textile articles including wearing apparel. This class also includes: finishing of leather wearing apparel; bleaching of jeans; and pleating and similar work on textiles.
Industry
Industry Apparel and Accessories
ANZSIC 2006: 1334 - Textile
Finishing and Other Textile Product Manufacturing
NACE 2002: 1730 - Finishing
of textiles
NAICS 2002: 313312 - Textile
and Fabric Finishing (except Broadwoven Fabric) Mills
UK SIC 2003: 1730 - Finishing
of textiles
UK SIC 2007: 1330 - Finishing
of textiles
US SIC 1987: 2261 - Finishers
of Broadwoven Fabrics of Cotton
Key Executives
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Name |
Title |
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Didier Evrard |
Director |
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Olivier Reuet |
Director |
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Sylvain Roquancourt |
Director |
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Christian Delporte |
Member of the Board, Personnel director |
1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7191895
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.770327
Corporate Overview
Location
109 Rue De Bethune
La Gorgue, 59253
France
Tel: +33 03 28 42 95 55
Sales EUR(mil): 9.5
Assets EUR(mil): 6.2
Employees: 61
Fiscal Year End: 31-Dec-2011
Industry: Apparel and Accessories
Incorporation Date: 15-Jan-1965
Company Type: Private Independent
Quoted Status: Not Quoted
Registered No.(FRA): 446550113
Director: Sylvain Roquancourt
Contents
Industry Codes
Business Description
Financial Data
Key Corporate Relationships
Industry Codes
ANZSIC 2006 Codes:
1334 - Textile Finishing and Other Textile Product Manufacturing
NACE 2002 Codes:
1730 - Finishing of textiles
NAICS 2002 Codes:
313312 - Textile and Fabric Finishing (except Broadwoven Fabric)
Mills
US SIC 1987:
2261 - Finishers of Broadwoven Fabrics of Cotton
UK SIC 2003:
1730 - Finishing of textiles
UK SIC 2007:
1330 - Finishing of textiles
Business
Description
Decoster Cauliez
is primarily engaged in bleaching, dyeing and printing (including
thermo-printing) of not self-produced textiles fibres, yarns, fabrics and
textile articles, including wearing apparel; and dressing, drying, steaming,
shrinking, sanforising, mercerising of not self-produced textiles and textile
articles including wearing apparel. This class also includes: finishing of
leather wearing apparel; bleaching of jeans; and pleating and similar work on
textiles.
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Executive report
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Board
of Directors |
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Member of the Board, Personnel director |
Director/Board Member |
D |
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Executives |
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Director |
Administration Executive |
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Director |
Administration Executive |
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Director |
Administration Executive |
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Member of the Board, Personnel director |
Human Resources Executive |
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Annual Profit & Loss
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31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
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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) |
0.71919 |
0.755078 |
0.719047 |
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Consolidated |
No |
No |
No |
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Total income |
13.4 |
9.6 |
10.8 |
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Net sales |
13.2 |
9.5 |
10.6 |
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Change in stock |
-0.6 |
-0.1 |
0.2 |
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Unfinished work in progress |
0.2 |
0.0 |
-0.2 |
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Supplementary operating income |
0.0 |
0.1 |
0.4 |
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Other operating income |
- |
0.0 |
- |
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Other external charges |
1.9 |
1.9 |
1.8 |
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Cost of goods sold |
7.2 |
4.1 |
4.4 |
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Taxes and social security costs |
0.3 |
0.3 |
0.3 |
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Social charges |
0.9 |
0.8 |
0.8 |
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Total payroll costs |
2.2 |
2.0 |
2.3 |
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Cost of stock depreciation and
amortisation |
0.4 |
0.0 |
0.0 |
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Fixed asset depreciation and amortisation |
0.3 |
0.3 |
0.4 |
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Other operating costs |
0.0 |
0.0 |
0.1 |
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Total operating
costs |
12.8 |
9.3 |
10.4 |
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Net operating
income |
0.7 |
0.3 |
0.4 |
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Total financial
income |
0.0 |
0.0 |
0.0 |
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Interest payable on loans |
0.1 |
0.1 |
0.1 |
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Other expenses |
0.0 |
- |
0.0 |
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Total expenses |
0.1 |
0.1 |
0.1 |
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Profit before tax |
0.6 |
0.2 |
0.4 |
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Extraordinary income |
0.2 |
0.3 |
0.4 |
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Extraordinary expenses |
0.5 |
0.2 |
0.6 |
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Extraordinary result |
-0.3 |
0.0 |
-0.2 |
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Total taxation |
0.1 |
0.1 |
0.1 |
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Profit distributed to employees |
0.0 |
0.0 |
0.0 |
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Net profit |
0.2 |
0.2 |
0.1 |
Annual
Balance Sheet
Financials in: USD (mil)
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31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate |
0.770327 |
0.745406 |
0.696986 |
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Consolidated |
No |
No |
No |
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Issued capital |
0.7 |
0.7 |
0.8 |
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Legal reserves |
1.0 |
0.6 |
0.4 |
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Total reserves |
1.1 |
1.1 |
1.2 |
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Profits for the year |
0.2 |
0.2 |
0.1 |
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Profit brought forward from previous
year(s) |
0.1 |
0.0 |
-0.1 |
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Capital subsidies and grants |
0.9 |
1.1 |
1.4 |
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Total
stockholders equity |
3.9 |
3.7 |
3.8 |
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Trade creditors |
2.3 |
1.6 |
1.7 |
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Bank loans and overdrafts |
0.2 |
0.3 |
0.4 |
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Current bank debts |
0.0 |
0.0 |
- |
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Other loans |
0.9 |
1.2 |
1.7 |
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Other liabilities |
0.1 |
0.1 |
0.1 |
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Debts on fixed assets |
0.0 |
0.1 |
0.5 |
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Taxation and social security |
0.7 |
0.6 |
0.7 |
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Total current
liabilities |
3.3 |
2.8 |
3.5 |
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Total debts |
4.2 |
3.9 |
5.1 |
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Total
liabilities (including net worth) |
8.0 |
7.7 |
8.9 |
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Goodwill |
0.0 |
0.0 |
0.0 |
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Other intangibles |
- |
0.0 |
- |
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Land |
0.0 |
0.0 |
0.1 |
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Buildings |
1.8 |
1.9 |
2.1 |
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Other fixed assets |
0.9 |
1.1 |
1.5 |
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Other financial assets |
0.1 |
0.2 |
0.3 |
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Total
non-current assets |
2.8 |
3.3 |
3.8 |
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Net stocks and work in progress |
1.8 |
1.4 |
1.3 |
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Trade debtors |
2.6 |
0.7 |
0.7 |
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Other receivables |
0.1 |
0.2 |
0.3 |
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Prepaid expenses |
0.2 |
0.3 |
0.2 |
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Cash and liquid assets |
0.2 |
1.4 |
2.5 |
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Marketable securities |
0.5 |
0.5 |
0.0 |
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Total current
assets |
5.2 |
4.4 |
5.1 |
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Total assets |
8.0 |
7.7 |
8.9 |
Annual
Ratios
Financials in: USD (mil)
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31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
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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 |
0.770327 |
0.745406 |
0.696986 |
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Consolidated |
No |
No |
No |
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Current ratio |
1.60 |
1.60 |
1.50 |
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Quick ratio |
1.10 |
1.10 |
1.10 |
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Total liabilities to net worth |
1.08% |
1.07% |
1.34% |
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Net worth to total assets |
0.48% |
0.48% |
0.43% |
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Collection period |
62.80 |
21.10 |
19.50 |
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Stock turnover rate |
7.00 |
7.00 |
8.20 |
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Asset turnover |
1.54% |
1.25% |
1.22% |
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Profit margin |
0.05% |
0.03% |
0.04% |
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Return on assets |
0.07% |
0.03% |
0.05% |
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Shareholders' return |
0.15% |
0.07% |
0.10% |
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Sales per employee |
1,022.56 |
767.62 |
701.07 |
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Profit per employee |
47.20 |
19.71 |
25.60 |
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Average wage per employee |
173.05 |
159.88 |
154.11 |
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Net worth |
3.9 |
3.7 |
3.8 |
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Number of employees |
61 |
61 |
71 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.44 |
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UK Pound |
1 |
Rs.87.00 |
|
Euro |
1 |
Rs.69.43 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
|
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.