MIRA INFORM REPORT

 

 

Report Date :

22.11.2012

 

IDENTIFICATION DETAILS

 

Name :

RAGOLLE

 

 

Registered Office :

Vichtseweg 129, Waregem, 8790

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2011

 

 

Year of Establishment :

1960

 

 

Com. Reg. No.:

405436442

 

 

Legal Form :

Private Independent Company

 

 

Line of Business :

Manufacture of made-up textile articles, except apparel

 

 

No. of Employees :

44 employees

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory 

Payment Behaviour :

No Complaints 

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)

Belgium

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

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 & address 

 

Ragolle

Vichtseweg 129

Waregem, 8790

Belgium

Tel:       056 77 74 79

Fax:      056 77 57 28

 

 

Synthesis  

 

Employees:                              44

Company Type:                        Private Independent

Incorporation Date:                    1960    

Financials in:                             USD (Millions)

Fiscal Year End:                       31-Dec-2011

Reporting Currency:                  Euro

Annual Sales:                           75.6  1

Total Assets:                             49.0

 

 

Business Description     

 

Manufacture of made-up textile articles, except apparel

 

Industry             

Industry            Textiles - Non Apparel

ANZSIC 2006:    133 - Textile Product Manufacturing

NACE 2002:      1740 - Manufacture of made-up textile articles, except apparel

NAICS 2002:     313 - Textile Mills

UK SIC 2003:    1740 - Manufacture of made-up textile articles, except apparel

UK SIC 2007:    1392 - Manufacture of made-up textile articles, except apparel

US SIC 1987:    239 - Miscellaneous Fabricated Textile Products

 

           

Key Executives   

 

Name

Title

Myriam Ragolle

Chairman/Managing Director

Roseline Maria Laura Ragolle

Managing Director

Jean-Marie Ragolle

Managing Director

Moortel Johan Donne Leon Vande

Representative/Auditor

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

Vichtseweg 129

Waregem, 8790

Belgium

Tel:       056 77 74 79

Fax:      056 77 57 28

           

Sales EUR(mil):             54.3

Assets EUR(mil):           37.7

Employees:                   44

Fiscal Year End:            31-Dec-2011

Industry:                        Textiles - Non Apparel

Incorporation Date:         1960

Company Type:             Private Independent

Quoted Status:              Not Quoted

Registered No.(VAT):     405436442

 

Chairman/Managing Director:

Myriam Ragolle

 

Contents

Industry Codes

Business Description

Financial Data

 

Industry Codes

 

ANZSIC 2006 Codes:

133       -          Textile Product Manufacturing

1331     -          Textile Floor Covering Manufacturing

1312     -          Natural Textile Manufacturing

 

NACE 2002 Codes:

1740     -          Manufacture of made-up textile articles, except apparel

1751     -          Manufacture of carpets and rugs

1721     -          Cotton-type weaving

 

NAICS 2002 Codes:

313       -          Textile Mills

314110  -          Carpet and Rug Mills

313210  -          Broadwoven Fabric Mills

 

US SIC 1987:

239       -          Miscellaneous Fabricated Textile Products

2273     -          Carpets and Rugs

2211     -          Broadwoven Fabric Mills, Cotton

 

UK SIC 2003:

1740     -          Manufacture of made-up textile articles, except apparel

1721     -          Cotton-type weaving

1751     -          Manufacture of carpets and rugs

 

UK SIC 2007:

1392     -          Manufacture of made-up textile articles, except apparel

1320     -          Weaving of textiles

1393     -          Manufacture of carpets and rugs

 

Business Description

Manufacture of made-up textile articles, except apparel

 

Financial Data

Financials in:

EUR(mil)

 

Revenue:

54.3

Assets:

37.7

Current Assets:

31.4

 

Fixed Assets:

6.4

 

Total Liabilities:

37.7

 

Issued Capital:

1.9

 

Net Worth:

1.9

 

 

 

Date of Financial Data:

31-Dec-2011

 

1 Year Growth

-10.0%

NA

 

 

 

 

Executive report

 

Board of Directors

 

Name

Title

Function

 

Myriam Ragolle

 

Chairman/Managing Director

Chairman

 

Age: 53

 

 

 

Executives

 

Name

Title

Function

 

Myriam Ragolle

 

Chairman/Managing Director

Managing Director

 

Age: 53

 

Roseline Maria Laura Ragolle

 

Managing Director

Managing Director

 

 

Age: 45

 

Jean-Marie Ragolle

 

Managing Director

Managing Director

 

 

Age: 48

 

Moortel Johan Donne Leon Vande

 

Representative/Auditor

Accounting Executive

 

 

Age: 51

 

 

 

Annual Profit & Loss

 

 

 

 

31-Dec-2011

31-Dec-2010

31-Dec-2009

Period Length

52 Weeks

52 Weeks

52 Weeks

Filed Currency

EUR

EUR

EUR

Exchange Rate (Period Average)

0.71919

0.755078

0.719047

Consolidated

No

No

No

 

 

 

 

    Turnover

75.6

71.1

52.2

    Increase or Decrease in Stocks of Finished Goods, and Orders in Progress

0.6

-0.3

-0.1

    Other Operating Income

0.5

0.6

0.5

Operating Income

76.6

71.4

52.6

        Purchases

65.5

61.0

40.6

        Increase or Decrease in Stocks

0.0

-2.2

1.2

    Raw Materials, Consumables, and Goods for Release

65.5

58.8

41.8

    Services and Sundry Goods

6.6

6.3

5.4

    Remuneration, Social Security Charges, and Pensions

2.5

2.4

2.6

    Depreciation of and Other Amounts Written Off of Formation Expense, Intangible and Tangible Fixed Assets

0.7

0.7

0.9

    Increase or Decrease in Amounts Written Off Stocks, Orders, and Trade Debtors

0.0

-

0.1

    Provisions for Liabilities and Charges

-

-0.3

-

    Other Operating Charges

0.1

0.2

0.2

Operating Charges

75.4

68.0

51.1

    Income From Current Assets

0.2

0.1

0.1

    Other Financial Income

0.4

0.4

0.0

Financial Income

0.6

0.4

0.1

    Interest and Other Debt Charges

0.2

0.2

0.3

    Other Financial Charges

1.6

2.6

1.2

Financial Charges

1.8

2.8

1.5

    Gain on Disposal of Fixed Assets

0.0

0.0

2.4

    Other Extraordinary Income

0.0

0.2

0.0

Extraordinary Income

0.0

0.2

2.4

    Other Extraordinary Charges

0.0

0.0

0.0

Extraordinary Charges

0.0

0.0

0.0

    Income Taxes

-

0.0

-

Income Taxes

-

0.0

-

    Transfer from Untaxed Reserves

0.2

0.1

0.1

    Transfer to Untaxed Reserves

-

-

2.4

        To the Legal Reserve

0.0

-

-

        To Other Reserves

0.3

1.3

0.3

    Transfers to Capital and Reserves

0.3

1.3

0.3

    Employees

44

45

47

 

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

 

 

 

 

    Intangible Assets

0.0

-

-

        Land & Buildings

7.3

6.8

6.9

        Plant, Machinery, and Equipment

0.7

0.7

1.0

        Furniture and Vehicles

0.2

0.2

0.3

    Tangible Assets

8.2

7.7

8.2

        Amounts Receivable and Cash Guarantees

0.1

0.0

0.0

        Other Capital Assets

0.1

0.0

0.0

    Capital Assets

0.1

0.0

0.0

Fixed Assets

8.2

7.7

8.3

        Other Amounts Receivable

0.2

0.2

0.3

    Amounts Receivable After More Than One Year

0.2

0.2

0.3

        Raw Materials and Consumables

8.9

9.3

7.5

        Work in Progress

0.3

0.2

0.2

        Finished Goods

1.8

1.4

1.8

        Stocks

11.0

10.9

9.5

    Inventory and Orders in Progress

11.0

10.9

9.5

        Trade Debtors

14.2

12.8

12.1

        Other Amounts Receivable

1.1

1.7

1.5

    Amounts Receivable Within One Year

15.3

14.5

13.6

        Other Investments and Deposits

11.2

5.4

3.6

    Investments

11.2

5.4

3.6

    Liquid Assets

2.9

6.8

8.4

    Adjustment Accounts

0.1

0.1

0.0

Current Assets

40.7

37.8

35.3

Total Assets

49.0

45.5

43.6

        Issued Capital

2.4

2.5

2.7

    Capital

2.4

2.5

2.7

        Legal Reserve

0.2

0.3

0.3

        Untaxed Reserves

2.7

3.0

3.3

        Reserves Available for Distribution

18.7

19.1

19.1

    Reserves

21.7

22.4

22.7

        Other Liabilities and Charges

-

-

0.4

        Provisions for Liabilities and Charges

-

-

0.4

    Provisions and Deferred Taxes

-

-

0.4

Capital and Reserves

24.1

24.9

25.3

        Other Loans

3.2

3.3

3.6

        Financial Debts

3.2

3.3

3.6

    Amounts Due After More Than One Year

3.2

3.3

3.6

        Credit Institutions

0.0

0.0

0.0

        Financial Debts

0.0

0.0

0.0

        Suppliers

14.2

9.6

7.8

        Notes Payable

4.5

4.8

2.5

        Trade Debts

18.6

14.4

10.3

        Taxes

0.0

0.0

0.0

        Remuneration and Social Security

0.2

0.2

0.4

        Taxes, Wages, and Social Security

0.3

0.2

0.4

        Other Amounts Payable

2.6

2.6

3.4

    Amounts Payable Within One Year

21.5

17.2

14.2

    Adjustment Accounts

0.2

0.2

0.2

Creditors

24.9

20.7

17.9

Total Liabilities + Shareholders' Equity

49.0

45.5

43.6

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.20

UK Pound

1

Rs.87.79

Euro

1

Rs.70.43

 

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%)

 

 

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.