MIRA INFORM REPORT
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Report Date : |
30.04.2013 |
IDENTIFICATION DETAILS
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Name : |
VOILE DE COTON |
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Registered Office : |
1820, Chemin De Saint Bernard, C0 Sci Lino Imm Activite L, Vallauris,
06220 |
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Country : |
France |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
15.11.2007 |
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Com. Reg. No.: |
500948831 |
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Legal Form : |
Private Independent Company |
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Line of Business : |
retail sale
of adults’ fur and leather clothing |
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No. of Employees : |
12 |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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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 – March 31st 2013
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Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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
The French economy
is diversified across all sectors. The government has partially or fully
privatized many large companies, including Air France, France Telecom, Renault,
and Thales. However, the government maintains a strong presence in some
sectors, particularly power, public transport, and defense industries. With at
least 79 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,
before stagnating in 2012. The unemployment rate increased from 7.4% in 2008 to
10.3% in 2012. Youth unemployment shot up to 24.2% during the third quarter of
2012 in metropolitan France. Lower-than-expected growth and high unemployment
costs have strained France's public finances. The budget deficit rose sharply
from 3.4% of GDP in 2008 to 7.5% of GDP in 2009 before improving to 4.5% of GDP
in 2012, while France's public debt rose from 68% of GDP to 89% over the same
period. Under President SARKOZY, Paris implemented some austerity measures 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. Socialist Party candidate Francois
HOLLANDE won the May 2012 presidential election, after advocating pro-growth
economic policies, the separation of banks' traditional deposit taking and
lending activities from more speculative businesses, increasing the top
corporate and personal tax rates, and hiring an additional 60,000 teachers
during his five-year term. The government's attempt to introduce a 75% wealth
tax on income over one million euros for two years was struck down by the
French Constitutional Council in December 2012 because it applied to
individuals rather than households. France ratified the EU fiscal stability
treaty in October 2012 and HOLLANDE's government has maintained France's
commitment to meeting the budget deficit target of 3% of GDP during 2013 even
amid signs that economic growth will be lower than the government's forecast of
0.8%. Despite stagnant growth and fiscal challenges, France's borrowing costs
declined during the second half of 2012 to euro-era lows.
|
Source : CIA |
Company name & address
Voile De Coton
1820, Chemin De Saint Bernard
C0 Sci Lino Imm Activite L
Vallauris, 06220
France
Synthesis
Employees: 12
Company Type: Private Independent
Incorporation Date:
15-Nov-2007
Financials in: USD
(Millions)
Fiscal Year End:
31-Dec-2011
Reporting Currency: Euro
Annual Sales: 2.6
Total Assets: 1.8
Business Description
Voile De Coton is primarily engaged in retail sale of adults’ fur and leather clothing; retail sale of children’s and infants’ clothing; retail sale of other women’s clothing; and retail sale of footwear and leather goods.
Industry
Industry Retail (Apparel)
ANZSIC 2006: 4251 - Clothing
Retailing
NACE 2002: 5242 - Retail sale
of clothing
NAICS 2002: 4481 - Clothing
Stores
UK SIC 2003: 5242 - Retail sale
of clothing
UK SIC 2007: 4771 - Retail sale
of clothing in specialised stores
US SIC 1987: 5611 - Men's and
Boys' Clothing and Accessory Stores
Key Executives
Name Title
Jean-Marc Cassagneres Partner D
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
1820, Chemin De Saint Bernard
C0 Sci Lino Imm Activite L
Vallauris, 06220
France
Sales EUR(mil): 1.9
Assets EUR(mil): 1.4
Employees: 12
Fiscal Year End: 31-Dec-2011
Industry: Retail
(Apparel)
Incorporation Date: 15-Nov-2007
Company Type: Private
Independent
Quoted Status: Not
Quoted
Registered No.(FRA): 500948831
Partner: Jean-Marc
Cassagneres
Industry Codes
ANZSIC 2006 Codes:
4251 - Clothing Retailing
4279 - Other Store-Based Retailing Not Elsewhere Classified
NACE 2002 Codes:
5242 - Retail sale of clothing
5248 - Other retail sale in specialised stores
NAICS 2002 Codes:
4481 - Clothing Stores
453 - Miscellaneous Store Retailers
US SIC 1987:
5611 - Men's and Boys' Clothing and Accessory Stores
599 - Retail Stores, Not Elsewhere Classified
UK SIC 2003:
5242 - Retail sale of clothing
5248 - Other retail sale in specialised stores
UK SIC 2007:
4771 - Retail sale of clothing in specialised stores
477 - Retail sale of other goods in specialised stores
Business
Description
Voile De Coton is primarily engaged in retail sale of adults’ fur and leather clothing; retail sale of children’s and infants’ clothing; retail sale of other women’s clothing; and retail sale of footwear and leather goods.
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Executive report
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Executives |
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Partner |
Partner |
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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 |
|
Exchange Rate
(Period Average) |
0.71919 |
0.755078 |
0.719047 |
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Consolidated |
No |
No |
No |
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Total income |
2.6 |
0.0 |
0.3 |
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Net sales |
2.6 |
- |
0.3 |
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Change in stock |
-0.2 |
0.0 |
0.0 |
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Other operating income |
0.0 |
0.0 |
0.0 |
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Other external charges |
0.5 |
0.0 |
0.1 |
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Cost of goods sold |
1.8 |
0.0 |
0.1 |
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Taxes and social security costs |
0.0 |
0.0 |
0.0 |
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Social charges |
0.2 |
0.0 |
0.0 |
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Total payroll costs |
0.6 |
- |
0.1 |
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Fixed asset depreciation and amortisation |
0.0 |
- |
0.0 |
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Other operating costs |
0.0 |
- |
0.0 |
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Total operating
costs |
2.9 |
0.0 |
0.3 |
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Net operating
income |
-0.3 |
0.0 |
-0.1 |
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Total financial
income |
0.1 |
- |
- |
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Interest payable on loans |
0.0 |
- |
- |
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Total expenses |
0.0 |
- |
- |
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Profit before tax |
-0.2 |
0.0 |
-0.1 |
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Extraordinary income |
0.2 |
0.0 |
0.0 |
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Extraordinary expenses |
0.0 |
- |
0.0 |
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Extraordinary result |
0.2 |
0.0 |
0.0 |
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Net profit |
- |
0.0 |
- |
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Net loss |
0.0 |
- |
0.1 |
Annual Balance Sheet
Financials in: USD (mil)
|
|
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 |
0.1 |
0.1 |
0.0 |
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Total reserves |
0.0 |
0.0 |
0.0 |
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Profits for the year |
- |
0.0 |
-0.1 |
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Profit brought forward from previous
year(s) |
0.0 |
0.0 |
0.0 |
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Total
stockholders equity |
0.0 |
0.0 |
0.0 |
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Trade creditors |
0.2 |
0.1 |
0.1 |
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Advances received |
- |
0.0 |
- |
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Bank loans and overdrafts |
0.6 |
- |
- |
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Other loans |
0.9 |
0.3 |
0.0 |
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Other liabilities |
0.0 |
- |
0.0 |
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Taxation and social security |
0.1 |
- |
- |
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Total current
liabilities |
1.3 |
- |
- |
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Total debts |
1.7 |
0.4 |
0.1 |
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Total
liabilities (including net worth) |
1.8 |
0.4 |
0.0 |
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Patents |
0.0 |
- |
- |
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Goodwill |
1.1 |
- |
- |
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Other fixed assets |
0.0 |
- |
- |
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Total
non-current assets |
1.1 |
- |
- |
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Net stocks and work in progress |
0.2 |
0.0 |
- |
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Trade debtors |
0.1 |
- |
- |
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Other receivables |
0.1 |
0.1 |
0.0 |
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Prepaid expenses |
0.2 |
0.1 |
- |
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Cash and liquid assets |
0.0 |
0.3 |
0.0 |
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Total current
assets |
0.7 |
0.4 |
0.0 |
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Total assets |
1.8 |
0.4 |
0.0 |
Annual Ratios
Financials in: USD (mil)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
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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 |
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Current ratio |
0.50 |
- |
- |
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Quick ratio |
0.30 |
- |
- |
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Total liabilities to net worth |
-1.70% |
9.75% |
-1.55% |
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Net worth to total assets |
-0.58% |
0.09% |
-1.81% |
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Collection period |
8.80 |
- |
- |
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Stock turnover rate |
10.40 |
- |
- |
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Asset turnover |
1.37% |
- |
12.41% |
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Profit margin |
-0.09% |
- |
-0.18% |
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Return on assets |
-0.12% |
-0.03% |
-2.25% |
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Shareholders' return |
- |
-0.31% |
- |
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Sales per employee |
1,026.26 |
- |
688.00 |
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Profit per employee |
-88.73 |
- |
-124.90 |
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Average wage per employee |
229.35 |
- |
192.31 |
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Net worth |
0.0 |
0.0 |
0.0 |
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Number of employees |
12 |
- |
2 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.27 |
|
UK Pound |
1 |
Rs.84.23 |
|
Euro |
1 |
Rs.70.90 |
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 |
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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 |
|
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 |
---- |
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.