MIRA INFORM REPORT

 

 

Report Date :

28.09.2012

 

IDENTIFICATION DETAILS

 

Name :

CARRIERES PLO

 

 

Registered Office :

Sardagne, St Salvy De La Balme, 81490

 

 

Country :

France

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

15.01.1979

 

 

Com. Reg. No.:

314730490

 

 

Legal Form :

Public Independent Company

 

 

Line of Business :

Subject is engaged in mining and quarrying of various minerals and materials

 

 

No. of Employees :

45 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)

France

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

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.

 

Source : CIA

 

 

Company name & address 

 

Carrieres Plo

Sardagne

St Salvy De La Balme, 81490

France

Tel:       +33 05 63 50 54 96

Fax:      +33 05 63 50 71 31

 

 

Synthesis     

 

Employees:                  45

Company Type:             Public Independent

Incorporation Date:         15-Jan-1979     

Financials in:                 USD (Millions)

Fiscal Year End:            31-Dec-2011

Reporting Currency:       Euro

Annual Sales:               10.9

Total Assets:                 8.8

 

 

Business Description     

 

Carrieres Plo is primarily engaged in mining and quarrying of various minerals and materials: abrasive materials, asbestos, siliceous fossil meals, natural graphite, steatite (talc), feldspar, etc.; gem stones, quartz, mica, etc.; and natural asphalt and bitumen.

 

Industry             

Industry            Non-Metallic Mining

ANZSIC 2006:    0990 - Other Non-Metallic Mineral Mining and Quarrying

NACE 2002:      1450 - Other mining and quarrying not elsewhere classified

NAICS 2002:     212399 - All Other Nonmetallic Mineral Mining

UK SIC 2003:    1450 - Other mining and quarrying not elsewhere classified

UK SIC 2007:    0899 - Other mining and quarrying n.e.c.

US SIC 1987:    1411 - Dimension Stone

 

 

Key Executives   

 

Name

Title

Philippe Plo

President

Jean-Pierre Plo

Accounts manager, Commercial director

Martial Benoit

Director

Frederic Laurent

Director

 

Registered No.(FRA):                 314730490

 

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

Sardagne

St Salvy De La Balme, 81490

France

Tel:       +33 05 63 50 54 96

Fax:      +33 05 63 50 71 31

           

Sales EUR(mil):             7.9

Assets EUR(mil):           6.8

Employees:                   45

Fiscal Year End:            31-Dec-2011

Industry:                        Non-Metallic Mining

Incorporation Date:         15-Jan-1979

Company Type:             Public Independent

Quoted Status:              Not Quoted

Registered No.(FRA):     314730490

President:                     Philippe Plo

 

Contents

Industry Codes

Business Description

Financial Data

Key Corporate Relationships

 

Industry Codes

 

ANZSIC 2006 Codes:

0990     -          Other Non-Metallic Mineral Mining and Quarrying

 

NACE 2002 Codes:

1450     -          Other mining and quarrying not elsewhere classified

 

NAICS 2002 Codes:

212399  -          All Other Nonmetallic Mineral Mining

 

US SIC 1987:

1411     -          Dimension Stone

 

UK SIC 2003:

1450     -          Other mining and quarrying not elsewhere classified

 

UK SIC 2007:

0899     -          Other mining and quarrying n.e.c.

 

Business Description

Carrieres Plo is primarily engaged in mining and quarrying of various minerals and materials: abrasive materials, asbestos, siliceous fossil meals, natural graphite, steatite (talc), feldspar, etc.; gem stones, quartz, mica, etc.; and natural asphalt and bitumen.

 

Financial Data

Financials in:

EUR(mil)

 

Revenue:

7.9

Assets:

6.8

Current Assets:

4.4

 

Total Liabilities:

6.8

 

Issued Capital:

0.3

 

Net Worth:

2.7

 

 

 

Date of Financial Data:

31-Dec-2011

 

1 Year Growth

8.0%

NA

Key Corporate Relationships

Bank:

Bnp Paribas, Banque Populaire Du Tarn Et De L'aveyron, Banque Courtois

 

 

 

 

 

 

 

 

 

Executive report

 

Executives

 

Name

Title

Function

 

Philippe Plo

 

President

President

 

Martial Benoit

 

Director

Administration Executive

 

Frederic Laurent

 

Director

Administration Executive

 

Jean-Pierre Plo

 

Accounts manager, Commercial director

Sales 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

 

 

 

 

Total income

11.4

10.0

9.9

Net sales

10.9

9.7

9.6

Change in stock

0.0

0.0

0.0

Unfinished work in progress

0.4

0.1

0.2

Supplementary operating income

0.1

0.2

0.1

Other operating income

0.0

0.0

0.0

Other external charges

3.4

2.8

2.7

Cost of goods sold

1.7

1.6

1.3

Taxes and social security costs

0.2

0.2

0.4

Social charges

1.0

0.9

0.9

Total payroll costs

2.1

2.0

2.0

Cost of stock depreciation and amortisation

0.2

0.0

0.2

Fixed asset depreciation and amortisation

1.3

1.1

0.9

Other operating costs

1.1

0.9

0.9

Total operating costs

10.9

9.5

9.3

Net operating income

0.5

0.4

0.6

Total financial income

0.0

0.0

0.0

Interest payable on loans

0.1

0.1

0.1

Other expenses

0.0

-

-

Total expenses

0.1

0.1

0.1

Profit before tax

0.4

0.4

0.5

Extraordinary income

0.1

0.0

0.1

Extraordinary expenses

0.0

0.0

0.1

Extraordinary result

0.0

0.0

0.0

Total taxation

0.2

0.1

0.2

Net profit

0.3

0.2

0.4

 

 

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

 

 

 

 

Issued capital

0.4

0.4

0.4

Legal reserves

0.2

0.2

0.2

Total reserves

2.7

2.5

2.3

Profits for the year

0.3

0.2

0.4

Total stockholders equity

3.5

3.3

3.3

Provisions and allowances

1.4

1.4

1.6

Trade creditors

0.6

0.8

1.0

Bank loans and overdrafts

2.1

2.4

2.1

Current bank debts

-

0.0

-

Other loans

0.5

0.8

0.7

Other liabilities

0.1

0.1

0.1

Income stated in advance

-

0.1

-

Taxation and social security

0.6

0.5

0.7

Total current liabilities

2.5

3.1

3.3

Total debts

3.9

4.7

4.7

Total liabilities (including net worth)

8.8

9.4

9.5

Land

0.1

0.1

0.1

Buildings

0.1

0.2

0.2

Other fixed assets

2.8

3.3

2.9

Long-term investments

0.0

0.0

0.0

Other financial assets

0.0

0.1

0.2

Total non-current assets

3.1

3.7

3.5

Net stocks and work in progress

1.1

0.8

0.7

Trade debtors

3.3

2.7

3.1

Other receivables

0.0

0.3

0.2

Prepaid expenses

0.1

0.0

0.0

Cash and liquid assets

1.3

2.0

1.9

Total current assets

5.7

5.7

6.0

Total assets

8.8

9.4

9.5

 

 

Annual Ratios

Financials in: USD (mil)

 

 

 

31-Dec-2011

31-Dec-2010

31-Dec-2009

Period Length

12 Months

12 Months

12 Months

Filed Currency

EUR

EUR

EUR

Exchange Rate

0.770327

0.745406

0.696986

Consolidated

No

No

No

 

 

 

 

Current ratio

2.30

1.90

1.80

Quick ratio

1.80

1.60

1.60

Total liabilities to net worth

1.11%

1.43%

1.42%

Net worth to total assets

0.40%

0.35%

0.34%

Collection period

96.90

83.50

95.50

Stock turnover rate

9.30

12.50

14.30

Asset turnover

1.16%

1.04%

1.04%

Profit margin

0.04%

0.04%

0.05%

Return on assets

0.05%

0.04%

0.05%

Shareholders' return

0.12%

0.11%

0.16%

Sales per employee

1,147.17

1,062.29

1,056.66

Profit per employee

46.75

40.31

54.20

Average wage per employee

223.81

217.79

215.62

Net worth

3.5

3.3

3.3

Number of employees

45

45

43

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.53.58

UK Pound

1

Rs.86.60

Euro

1

Rs.68.94

 

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.