MIRA
INFORM REPORT
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Report Date : |
17.04.2013 |
IDENTIFICATION DETAILS
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Name : |
DUCLOS INTERNATIONAL SA |
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Registered Office : |
Avenue De La Republique, |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
15.04.1991 |
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Com. Reg. No.: |
382283588 |
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Legal Form : |
Public Subsidiary Company |
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Line of Business : |
manufacturer
of insecticides, rodenticides, fungicides, herbicides |
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No. of Employees : |
30 |
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
|
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
Duclos International Sa
Avenue De La Republique
Lunel Viel, 34400
France
Tel: +33 04 67 83 50 70
Fax: +33 04 67 83 60 54
Synthesis
Employees: 30
Company Type: Public Subsidiary
Corporate Family: 13 Companies
Ultimate Parent: Trans-Resources,
Inc.
Incorporation Date:
15-Apr-1991
Financials in: USD
(Millions)
Fiscal Year End:
31-Dec-2011
Reporting Currency: Euro
Annual Sales: 49.7
Total Assets: 20.1
Business Description
Duclos International Sa is primarily engaged in manufacture of insecticides, rodenticides, fungicides, herbicides; manufacture of anti-sprouting products, plant growth regulators; manufacture of disinfectants; and manufacture of other agro-chemical products not elsewhere classified.
Industry
Industry Chemical Manufacturing
ANZSIC 2006: 1832 - Pesticide
Manufacturing
NACE 2002: 2420 - Manufacture
of pesticides and other agro-chemical products
NAICS 2002: 3253 - Pesticide, Fertilizer,
and Other Agricultural Chemical Manufacturing
UK SIC 2003: 2420 - Manufacture
of pesticides and other agro-chemical products
UK SIC 2007: 2020 - Manufacture
of pesticides and other agrochemical products
US SIC 1987: 2873 - Nitrogenous
Fertilizers
Key Executives
|
Name |
Title |
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Cyril Fructuoso |
Accounts manager, Director |
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Andre Lefebvre |
Commercial director, Director |
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Franck Chazottes |
Purchase manager |
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
Avenue De La Republique
Lunel Viel, 34400
France
Tel: +33 04 67 83 50 70
Fax: +33 04 67 83 60 54
Sales EUR(mil): 35.7
Assets EUR(mil): 15.5
Employees: 30
Fiscal Year End: 31-Dec-2011
Industry: Chemical
Manufacturing
Incorporation Date: 15-Apr-1991
Company Type: Public
Subsidiary
Quoted Status: Not
Quoted
Registered No.(FRA): 382283588
Accounts manager,
Director:
Cyril Fructuoso
Industry Codes
ANZSIC 2006 Codes:
1832 - Pesticide Manufacturing
NACE 2002 Codes:
2420 - Manufacture of pesticides and other agro-chemical products
NAICS 2002 Codes:
3253 - Pesticide, Fertilizer, and Other Agricultural Chemical
Manufacturing
US SIC 1987:
2873 - Nitrogenous Fertilizers
UK SIC 2003:
2420 - Manufacture of pesticides and other agro-chemical products
UK SIC 2007:
2020 - Manufacture of pesticides and other agrochemical products
Business
Description
Duclos International Sa is primarily engaged in manufacture of insecticides, rodenticides, fungicides, herbicides; manufacture of anti-sprouting products, plant growth regulators; manufacture of disinfectants; and manufacture of other agro-chemical products not elsewhere classified.
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Corporate Family |
Corporate
Structure News: |
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Trans-Resources,
Inc. |
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Duclos International Sa |
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Company Name |
Company
Type |
Location |
Country |
Industry |
Sales |
Employees |
|
Parent |
New York, NY |
United States |
Chemical Manufacturing |
497.1 |
1,000 |
|
|
Subsidiary |
Matam-Haifa |
Israel |
Chemical Manufacturing |
611.5 |
650 |
|
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Subsidiary |
Lunel Viel |
France |
Chemical Manufacturing |
49.7 |
44 |
|
|
Subsidiary |
Altamonte Springs, FL |
United States |
Chemical Manufacturing |
9.7 |
20 |
|
|
Subsidiary |
Bologna, Bologna |
Italy |
Crops |
53.7 |
10 |
|
|
Subsidiary |
Madrid |
Spain |
Chemical Manufacturing |
76.0 |
9 |
|
|
Subsidiary |
Mishor Rotem Iz |
Israel |
Chemical Manufacturing |
219.5 |
|
|
|
Subsidiary |
Glyfada |
Greece |
Chemical Manufacturing |
21.0 |
4 |
|
|
Subsidiary |
Caesarea |
Israel |
Construction - Supplies and Fixtures |
15.1 |
77 |
|
|
Subsidiary |
Brampton, ON |
Canada |
Chemical Manufacturing |
1.4 |
75 |
|
|
Subsidiary |
Marion, OH |
United States |
Chemical Manufacturing |
|
35 |
|
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Branch |
Red Oak, IA |
United States |
Chemical Manufacturing |
5.5 |
8 |
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Branch |
Corydon, IN |
United States |
Chemical Manufacturing |
9.4 |
5 |
Executive report
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Executives |
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Accounts manager, Director |
Administration Executive |
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Commercial director, Director |
Administration Executive |
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Purchase manager |
Purchasing Executive |
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 |
|
Exchange Rate
(Period Average) |
0.71919 |
0.755078 |
0.719047 |
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Consolidated |
No |
No |
No |
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Total income |
51.4 |
60.1 |
56.0 |
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Net sales |
49.7 |
59.0 |
55.0 |
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Change in stock |
-0.7 |
2.4 |
6.5 |
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Unfinished work in progress |
1.3 |
0.7 |
0.3 |
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Supplementary operating income |
0.0 |
0.1 |
0.2 |
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Other operating income |
0.4 |
0.3 |
0.4 |
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Other external charges |
8.8 |
8.9 |
6.7 |
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Cost of goods sold |
39.2 |
44.4 |
38.4 |
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Taxes and social security costs |
0.3 |
0.4 |
0.4 |
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Social charges |
0.9 |
1.0 |
1.1 |
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Total payroll costs |
1.9 |
2.3 |
2.2 |
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Cost of stock depreciation and
amortisation |
0.1 |
0.2 |
0.1 |
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Fixed asset depreciation and amortisation |
0.0 |
0.2 |
0.4 |
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Other operating costs |
0.0 |
0.0 |
0.2 |
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Total operating
costs |
50.6 |
59.7 |
55.9 |
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Net operating
income |
0.8 |
0.4 |
0.1 |
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Total financial
income |
0.2 |
0.3 |
0.1 |
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Interest payable on loans |
0.0 |
0.0 |
0.2 |
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Other expenses |
0.2 |
0.3 |
0.1 |
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Total expenses |
0.2 |
0.3 |
0.3 |
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Profit before tax |
0.8 |
0.5 |
-0.1 |
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Extraordinary income |
0.1 |
0.3 |
0.6 |
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Extraordinary expenses |
0.1 |
0.7 |
0.4 |
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Extraordinary result |
0.1 |
-0.3 |
0.2 |
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Total taxation |
0.3 |
0.0 |
0.1 |
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Profit distributed to employees |
0.1 |
- |
- |
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Net profit |
0.5 |
0.1 |
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 |
|
Exchange Rate |
0.770327 |
0.745406 |
0.696986 |
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Consolidated |
No |
No |
No |
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Issued capital |
0.9 |
0.9 |
0.9 |
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Legal reserves |
1.2 |
1.2 |
1.3 |
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Total reserves |
0.2 |
0.1 |
0.1 |
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Profits for the year |
0.4 |
0.1 |
0.1 |
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Profit brought forward from previous
year(s) |
0.6 |
0.6 |
0.6 |
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Total
stockholders equity |
3.2 |
2.9 |
3.0 |
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Provisions and allowances |
0.4 |
0.3 |
0.3 |
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Trade creditors |
15.1 |
16.8 |
15.2 |
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Other liabilities |
0.5 |
0.6 |
0.7 |
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Taxation and social security |
1.0 |
0.8 |
0.9 |
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Total current
liabilities |
16.5 |
18.2 |
16.8 |
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Total debts |
16.5 |
18.2 |
16.8 |
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Regularisation account |
0.0 |
0.0 |
0.0 |
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Total
liabilities (including net worth) |
20.1 |
21.4 |
20.1 |
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Patents |
- |
- |
0.0 |
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Goodwill |
0.0 |
0.0 |
0.0 |
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Land |
0.2 |
0.2 |
0.2 |
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Buildings |
0.0 |
0.0 |
0.0 |
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Other fixed assets |
0.2 |
0.2 |
0.2 |
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Long-term investments |
0.0 |
0.0 |
0.0 |
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Other financial assets |
0.1 |
0.1 |
0.1 |
|
Total
non-current assets |
0.6 |
0.6 |
0.7 |
|
Net stocks and work in progress |
7.5 |
5.9 |
8.3 |
|
Trade debtors |
10.1 |
11.6 |
10.3 |
|
Other receivables |
0.4 |
0.6 |
0.6 |
|
Prepaid expenses |
0.0 |
0.0 |
0.0 |
|
Cash and liquid assets |
1.5 |
2.7 |
0.3 |
|
Total current
assets |
19.5 |
20.8 |
19.4 |
|
Prepaid expenses and deferred costs |
0.0 |
0.0 |
0.0 |
|
Total assets |
20.1 |
21.4 |
20.1 |
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 |
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Consolidated |
No |
No |
No |
|
|
|
|
|
|
Current ratio |
1.20 |
1.10 |
1.20 |
|
Quick ratio |
0.70 |
0.80 |
0.70 |
|
Total liabilities to net worth |
5.21% |
6.38% |
5.66% |
|
Net worth to total assets |
0.16% |
0.13% |
0.15% |
|
Collection period |
66.30 |
59.00 |
55.10 |
|
Stock turnover rate |
6.20 |
10.10 |
6.90 |
|
Asset turnover |
2.30% |
2.79% |
2.82% |
|
Profit margin |
0.02% |
0.01% |
0.00% |
|
Return on assets |
0.04% |
0.02% |
0.00% |
|
Shareholders' return |
0.24% |
0.17% |
-0.02% |
|
Sales per employee |
7,811.20 |
- |
6,331.74 |
|
Profit per employee |
127.26 |
- |
-7.29 |
|
Average wage per employee |
291.44 |
- |
253.31 |
|
Net worth |
3.2 |
2.9 |
3.0 |
|
Number of employees |
30 |
- |
41 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.33 |
|
UK Pound |
1 |
Rs.83.17 |
|
Euro |
1 |
Rs.71.05 |
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 |
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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.