MIRA
INFORM REPORT
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Report Date : |
21.11.2012 |
IDENTIFICATION DETAILS
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Name : |
VIDRES SA |
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Registered Office : |
Ctra Onda Km 3,4, Villarreal, 12540 |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Year of Establishment : |
1975 |
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Com. Reg. No.: |
A12019295 |
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Legal Form : |
Public Independent Company |
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Line of Business : |
Manufacturer of paints, varnishes and similar coatings, printing ink
and mastics |
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No. of Employees : |
178 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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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 |
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Source : CIA |
Company name & address
Vidres Sa
Ctra Onda Km 3,4
Villarreal, 12540
Spain
Tel: +(34) 964520562
Fax: +(34) 964527698
Web: www.vidres.com
Synthesis
Employees: 178
Company Type: Public
Independent
Incorporation Date: 1975
Auditor: Grant Thornton Slp
Financials in: USD
(Millions)
Fiscal Year End: 09-Oct-2012
Reporting Currency: Euro
Annual Sales: 51.0
1
Net Income: 3.3
Total Assets: 55.7
Business Description
Manufacture of paints, varnishes and similar coatings, printing ink and
mastics
Industry
Industry Chemical Manufacturing
ANZSIC 2006: 1916 - Paint and
Coatings Manufacturing
NACE 2002: 2430 - Manufacture
of paints, varnishes and similar coatings, printing ink and mastics
NAICS 2002: 3255 - Paint,
Coating, and Adhesive Manufacturing
UK SIC 2003: 2430 - Manufacture
of paints, varnishes and similar coatings, printing ink and mastics
UK SIC 2007: 2030 - Manufacture
of paints, varnishes and similar coatings, printing ink and mastics
US SIC 1987: 2851 - Paints,
Varnishes, Lacquers, Enamels, and Allied Products
Key Executives
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Name |
Title |
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Vicente Bort Martinez |
Managing Director |
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Javier Bon Gorriz |
Secretary |
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Mas Sergio |
Computer Science Director |
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Vicente Nebot |
Commercial Manager |
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Francisco Javier Villar Castaño |
Vice Chairman |
1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7715309
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7706771
Corporate Overview
Location
Ctra Onda Km 3,4
Villarreal, 12540
Spain
Tel: +(34) 964520562
Fax: +(34) 964527698
Web: www.vidres.com
Sales EUR(mil): 39.3
Assets EUR(mil): 42.9
Employees: 178
Fiscal Year End: 09-Oct-2012
Industry: Chemical
Manufacturing
Incorporation Date: 1975
Company Type: Public
Independent
Quoted Status: Not
Quoted
Registered No.(ESP): A12019295
Vice Chairman: Francisco
Javier Villar Castaño
Contents
Industry Codes
Business Description
Financial Data
Key Corporate Relationships
Industry Codes
ANZSIC 2006 Codes:
1916 - Paint and Coatings Manufacturing
NACE 2002 Codes:
2430 - Manufacture of paints, varnishes and similar coatings,
printing ink and mastics
NAICS 2002 Codes:
3255 - Paint, Coating, and Adhesive Manufacturing
US SIC 1987:
2851 - Paints, Varnishes, Lacquers, Enamels, and Allied Products
UK SIC 2003:
2430 - Manufacture of paints, varnishes and similar coatings,
printing ink and mastics
UK SIC 2007:
2030 - Manufacture of paints, varnishes and similar coatings,
printing ink and mastics
Business
Description
Manufacture of paints, varnishes and similar coatings, printing ink and
mastics
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Executive report
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Board of Directors |
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Vice Chairman |
Vice-Chairman |
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Member Of The
Board |
Director/Board Member |
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Executives |
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Managing Director |
Managing Director |
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Secretary |
Administration
Executive |
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Computer Science
Director |
Information
Executive |
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Commercial Manager |
Commercial
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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Charges |
55.2 |
46.4 |
37.4 |
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Stock
Reduction |
- |
- |
1.0 |
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Supplies |
28.8 |
21.4 |
15.0 |
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Goods
Consumption |
0.1 |
- |
0.0 |
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Consumption
of Raw Materials |
28.7 |
21.4 |
15.0 |
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Staff
Costs |
10.4 |
8.3 |
8.6 |
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Wages
and Salaries |
8.3 |
6.7 |
7.0 |
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Social
Security Costs |
2.0 |
1.6 |
1.6 |
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Depreciation |
3.4 |
3.3 |
4.2 |
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Allowance
for Trade Operations |
0.5 |
0.4 |
0.1 |
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Losses
from Unrecovered Receivables |
0.5 |
0.4 |
0.1 |
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Other
Operating Charges |
11.3 |
9.1 |
7.8 |
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External
Services |
11.0 |
8.9 |
7.6 |
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Taxes |
0.1 |
0.1 |
0.1 |
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Other
Operating Expenses |
0.2 |
0.1 |
0.1 |
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Operating
Benefits |
3.4 |
4.7 |
0.8 |
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Financials
and Similar Charges |
0.2 |
0.2 |
0.4 |
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Due
to Other Liabilities |
0.2 |
0.2 |
0.4 |
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Changes
in Financial Investment Provisions |
0.0 |
2.8 |
0.1 |
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Exchange
Losses |
- |
0.0 |
- |
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Net Financial
Income |
0.1 |
- |
- |
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Profit From
Ordinary Activities |
3.5 |
2.0 |
0.5 |
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Changes
in Provisions for Assets |
0.0 |
0.6 |
0.0 |
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Losses
From Assets and Securities Portfolio |
- |
- |
0.0 |
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Extraordinary
Profit |
0.7 |
0.1 |
0.2 |
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Profit Before
Taxes |
4.2 |
2.1 |
0.6 |
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Corporation
Tax |
0.6 |
0.3 |
0.1 |
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Financial Year
Result (Profit) |
3.6 |
1.8 |
0.5 |
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Income |
58.8 |
48.2 |
37.9 |
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Net
Total Sales |
54.7 |
43.5 |
34.9 |
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Sales |
57.9 |
46.1 |
37.0 |
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Sales
Refunds |
-3.2 |
-2.6 |
-2.1 |
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Increase
in Stocks |
0.3 |
1.3 |
- |
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Works
Performed for Fixed Assets |
1.4 |
1.3 |
1.8 |
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Miscellaneous
Operating Income |
1.4 |
1.1 |
0.9 |
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Auxiliary
Income From Current Management |
1.2 |
1.1 |
0.8 |
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Grants |
0.2 |
0.0 |
0.1 |
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Income
From Miscellaneous Interests |
0.3 |
0.3 |
0.1 |
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From
Group Companies |
0.0 |
- |
- |
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Miscellaneous
Interests |
0.3 |
0.3 |
0.1 |
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Profit
on Financial Investment |
0.0 |
- |
- |
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Gains
from Exchange Rate |
0.0 |
- |
0.0 |
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Negative
Financial Results |
- |
2.7 |
0.4 |
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Profit
on Disposal of Assets |
0.0 |
0.0 |
- |
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Capital
Grants Transferred to Profit and Loss |
0.6 |
0.2 |
0.2 |
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Extraordinary
Income |
0.1 |
0.4 |
0.0 |
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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Software |
0.0 |
0.0 |
0.0 |
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Payments
on Account |
0.1 |
0.1 |
0.2 |
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Total
Intangible Fixed Assets |
0.2 |
0.2 |
0.2 |
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Land
and Construction |
7.8 |
8.0 |
8.6 |
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Technical
Installations and Machinery |
1.8 |
1.6 |
1.9 |
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Other
Installations, Tools, and Furniture |
1.9 |
1.6 |
1.9 |
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Tangible
Fixed Assets Under Construction |
0.4 |
0.2 |
- |
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Other
Tangible Assets |
2.5 |
2.2 |
2.5 |
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Total
Tangible Fixed Assets |
14.4 |
13.6 |
14.8 |
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Investments
in Group Companies |
0.0 |
0.0 |
3.6 |
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Long-Term
Securities Portfolio |
1.9 |
2.0 |
- |
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Financial
Investments |
2.0 |
2.0 |
3.6 |
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Long-Term
Trade Receivables |
- |
- |
0.6 |
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Total Fixed Assets |
16.6 |
15.8 |
19.2 |
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Goods
for Resale |
- |
0.1 |
0.1 |
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Raw
Materials and Other Consumables |
5.5 |
3.3 |
2.4 |
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Goods
in Process |
3.4 |
3.6 |
2.8 |
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Finished
Products |
1.5 |
1.2 |
0.9 |
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Payments
on Account |
0.3 |
- |
- |
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Total
Stocks |
10.7 |
8.1 |
6.1 |
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Trade
Debtors |
23.5 |
20.3 |
15.9 |
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Receivables,
Group Companies |
0.0 |
0.5 |
0.5 |
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Other
Debtors |
0.0 |
0.0 |
0.0 |
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Staff |
0.0 |
0.0 |
0.0 |
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Public
Bodies |
1.2 |
0.3 |
0.3 |
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Total
Debtors |
24.7 |
21.1 |
16.8 |
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Short-Term
Securities Portfolio |
0.0 |
2.7 |
0.0 |
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Other
Receivables |
0.6 |
0.6 |
0.6 |
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Short-Term
Guarantees and Deposits |
2.7 |
4.1 |
8.3 |
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Total
Short-Term Investments |
3.2 |
7.4 |
9.0 |
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Cash |
0.4 |
0.5 |
1.5 |
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Prepayments
and Accrued Income |
0.0 |
0.0 |
0.0 |
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Total Current
Assets |
39.1 |
37.0 |
33.3 |
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Total Assets |
55.7 |
52.9 |
52.5 |
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Revaluation
Reserves |
1.0 |
1.1 |
1.1 |
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Legal
Reserve |
0.0 |
0.0 |
0.0 |
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Miscellaneous
Reserves |
26.9 |
27.3 |
28.7 |
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Total
Reserves |
27.0 |
27.3 |
28.8 |
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Profit
or Loss for the Financial Year |
3.3 |
1.8 |
0.6 |
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Interim
Dividend Paid |
-1.3 |
-0.7 |
- |
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Total Equity |
30.2 |
29.8 |
30.7 |
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Capital
Grants |
0.2 |
0.1 |
0.2 |
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Total Deferred
Income |
0.2 |
0.1 |
0.2 |
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Loans
and Other Liabilities |
7.3 |
7.5 |
10.0 |
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Total
Amounts Owed to Credit Institutions |
7.3 |
7.5 |
10.0 |
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Other
Creditors |
0.5 |
0.6 |
0.4 |
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Long-Term
Payables to Public Bodies |
0.2 |
0.1 |
0.1 |
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Total
Other Creditors |
0.7 |
0.7 |
0.5 |
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Total Long Term
Liabilities |
8.0 |
8.2 |
10.6 |
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Loans
and Other Liabilities |
4.7 |
4.6 |
3.4 |
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Total
Amounts Owed to Credit Institutions |
4.7 |
4.6 |
3.4 |
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Amounts
Owed to Group Companies |
0.0 |
0.0 |
0.0 |
|
Total
Short-Term Amounts Owed to Group and Associa |
0.0 |
0.0 |
0.0 |
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Amounts
Owed for Purchases of Goods or Services |
11.3 |
9.4 |
6.9 |
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Total
Trade Creditors |
11.3 |
9.4 |
6.9 |
|
Public
Bodies |
0.6 |
0.4 |
0.3 |
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Bills
of Exchange Payable |
0.0 |
0.0 |
0.0 |
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Miscellaneous
Debts |
0.0 |
0.0 |
0.0 |
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Wages
and Salaries Payable |
0.5 |
0.5 |
0.5 |
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Total
Other Creditors |
1.1 |
0.8 |
0.8 |
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Provisions |
0.0 |
0.0 |
0.0 |
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Total Short Term Creditors |
17.2 |
14.8 |
11.1 |
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Total
Liabilities and Equity |
55.7 |
52.9 |
52.5 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.91 |
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UK Pound |
1 |
Rs.87.38 |
|
Euro |
1 |
Rs.70.24 |
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 |
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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 |
|
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 |
|
<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.