|
Report Date : |
01.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
ISOLAGO-INDUSTRIA DE PLASTICOS SA |
|
|
|
|
Registered Office : |
Lugar De Casais Da Lagoa Aveiras De Baixo 2050-038-Aveiras De Baixo Azambuja Lisboa |
|
|
|
|
Country : |
Portugal |
|
|
|
|
Financials (as on) : |
31.12.2012 |
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|
|
|
Date of Incorporation : |
11.01.2002 |
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|
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|
Legal Form : |
Joint Stock Company |
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|
|
|
Line of Business : |
Processing plastic products and purchase and sale of buildings
aqduiridos for Resale |
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|
|
|
No. of Employees : |
3 |
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 : |
Small Company |
|
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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Portugal |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
PORTUGAL - ECONOMIC OVERVIEW
Portugal has become a diversified and increasingly
service-based economy since joining the European Community - the EU's
predecessor - in 1986. Over the following two decades, successive governments
privatized many state-controlled firms and liberalized key areas of the
economy, including the financial and telecommunications sectors. The country
qualified for the Economic and Monetary Union (EMU) in 1998 and began
circulating the euro on 1 January 2002 along with 11 other EU members. The
economy grew by more than the EU average for much of the 1990s, but the rate of
growth slowed in 2001-08. The economy contracted 2.5% in 2009, before growing
1.4% in 2010, but GDP fell again in 2011 and 2012, as the government began
implementing spending cuts and tax increases to comply with conditions of an
EU-IMF financial rescue package, agreed to in May 2011. GDP per capita stands
at roughly two-thirds of the EU-27 average. Portugal also has been increasingly
overshadowed by lower-cost producers in Central Europe and Asia as a
destination for foreign direct investment, in part because its rigid labor
market hindered greater productivity and growth. However, the government of
Pedro PASSOS COELHO has enacted several measures to introduce more flexibility
into the labor market, and, this, along with steps to reduce high levels of
public debt, could make Portugal more attractive to foreign investors. The
government reduced the budget deficit from 10.1% of GDP in 2009 to 4.5% in
2011, an achievement made possible only by the extraordinary revenues obtained
from the one-time transfer of bank pension funds to the social security system.
The budget deficit worsened in 2012 as a sharp reduction in domestic
consumption took a bigger bite out of value-added tax revenues while rising unemployment
benefits increased expenditures more than anticipated. Poor growth prospects
over the next year have reinforced investors' concerns about the government's
ability to achieve its budget deficit targets and regain full access to bond
market financing when the EU-IMF financing program expires in 2013.
Source
: CIA
|
Name |
ISOLAGO-INDUSTRIA DE PLASTICOS SA |
|
V.A.T. Number / NIF |
505837676 |
|
Address |
Lugar de Casais da Lagoa |
|
Locality |
Aveiras De Baixo |
|
Postal Code |
2050-038-AVEIRAS DE BAIXO |
|
Municipality |
AZAMBUJA |
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District |
LISBOA |
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Telephone |
243750180, 919999622 |
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Fax |
243750188 |
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E-Mail |
isolago@isolago.com |
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Web Site |
www.isolago.com |
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|
C.A.E.(Rev 3) |
20160- Manufacture of plastics in primary
forms |
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All the amounts
are express in Euros, otherwise you will be advised |
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Board of Director's |
|
|
JOAO RODRIGO CASAIS DA COSTA BARROS |
Board of Director's President |
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ANA MARIA CASAIS DE ALMEIDA E COSTA BARROS |
Shareholder and Administrator |
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|
|
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Fiscal Board |
|
|
ANTONIO VICTOR DE ALMEIDA CAMPOS |
Unique Fiscal |
|
JORGE MANUEL TEIXEIRA DA SILVA |
Fiscal Board Substitute |
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Registed on the Register Record Office of
Azambuja with the Register Number 505837676 previous number 800 in 10-04-2003 |
|
Constitution celebrated in 11-01-2002 published
on Diário da República number 193 of 22-08-2002 |
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To oblige the company it is necessary 2
signature |
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Changes to Society |
|
In 24-08-2011 on Portal MJ of 29-11-2011
board of director's change |
|
|
In 21-01-2010 on Portal MJ of 21-01-2010 board
of director's change |
|
|
In 19-04-2005 on Diário da República
number 146 of 01-08-2005 board of director's change |
|
|
In 17-02-2005 on Diário da República
number 98 of 20-05-2005 increase of capital Clique
para ver detalhes
|
|
|
In 12-03-2004 on Diário da República
number 97 of 24-04-2004 increase of capital Clique
para ver detalhes
|
|
The Capital is 1.285.000,00 , divided in 257000
shares , with a nominal value of 5,00 |
|
|
with the following shareholders |
|
ANA MARIA CASAIS DE ALMEIDA E COSTA BARROS |
218.707,00 |
17,02% |
|
JOAO DA COSTA BARROS |
656.121,00 |
51,06% |
|
Line of Business |
Percentage |
|
Processing plastic products and purchase
and sale of buildings aqduiridos for Resale |
100% |
|
Type of Clients |
Private Companies |
|
|
|
Sales Conditions |
Cash/credit |
|
|
|
Sales Area |
|
|
|
|
Country |
51% |
Foreign |
49% |
|
Exports |
49% |
to |
ESPANHA,FRANÇA,ITALIA,ALEMANHA |
|
BANCO SANTANDER TOTTA SA |
Azambuja |
|
Legal Actions |
|
Date |
Process |
Author |
Type |
Amount |
Judicial District |
Court |
Situation |
|
09-10-2012 |
2313/12.0TBOAZ |
Friaz, Frio
Industrial de Azeméis, Lda |
Especial Cump.Obrig. Pecuniarias DL 269/98 |
6.155,37 |
Oliveira de Azeméis - Tribunal Judicial |
|
|
|
Total |
3 |
|
Head office and installations shared Lugar
de Casais da Lagoa, Aveiras De Baixo, 2050-038, AVEIRAS DE BAIXO,
Tel:263401015, Fax:263418480 |
|
Installations Quinta da Ribeira, Pontevel,
2070, PONTEVEL, Tel:243750180, Fax:243750188 |
|
Had head office Casal dos Eucaliptos,
Pontevel, 2070, CARTAXO |
|
Balance Sheet SNC |
||
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CoinEURO |
|
Date31-12-2012 |
|
|
||
|
Closing Date |
31-12-2012 |
31-12-2011 |
31-12-2010 |
Variaçăo (%) |
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|||
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ASSET |
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|||
|
|
|
|
|
|
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Non-current assets |
|
|||
|
Tangible fixed assets |
2.118.410,00 |
2.538.409,00 |
2.496.394,00 |
(16,55) |
|
Other financial assets |
5.000,00 |
5.000,00 |
|
|
|
Total |
2.123.410,00 |
2.543.409,00 |
2.496.394,00 |
(16,51) |
|
|
|
|
|
|
|
Current assets |
|
|
||
|
Inventories |
2.403.514,00 |
3.534.077,00 |
2.462.395,00 |
(31,99) |
|
Costumers |
3.508.913,00 |
3.811.111,00 |
2.013.571,00 |
(7,93) |
|
Advances to suppliers |
215.790,00 |
|
|
|
|
State and other public entities |
100.744,00 |
114.119,00 |
|
(11,72) |
|
Other accounts receivable |
9.292,00 |
5.211,00 |
173.986,00 |
78,32 |
|
Deferrals |
5.829,00 |
8.503,00 |
4.157,00 |
(31,45) |
|
Other financial assets |
32.510,00 |
22.500,00 |
27.500,00 |
44,49 |
|
Cashier and bank deposits |
439.140,00 |
108.595,00 |
848.587,00 |
304,38 |
|
Total |
6.715.732,00 |
7.604.116,00 |
5.530.196,00 |
(11,68) |
|
TOTAL ASSET |
8.839.142,00 |
10.147.525,00 |
8.026.590,00 |
(12,89) |
|
|
|
|
|
|
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SHAREHOLDERS FUNDS AND LIABILITIES |
|
|
||
|
|
|
|
|
|
|
SHAREHOLDERS FUNDS |
|
|
||
|
Capital |
1.285.000,00 |
1.285.000,00 |
1.285.000,00 |
|
|
Legal reserves |
66.794,00 |
66.794,00 |
53.806,00 |
|
|
Other reserves |
134.368,00 |
134.368,00 |
134.368,00 |
|
|
Net retained |
949.888,00 |
672.131,00 |
425.358,00 |
41,32 |
|
Total |
2.436.050,00 |
2.158.293,00 |
1.898.532,00 |
12,87 |
|
Net income for the period |
296.451,00 |
277.757,00 |
259.761,00 |
6,73 |
|
TOTAL OF SHAREHOLDERS FUNDS |
2.732.501,00 |
2.436.050,00 |
2.158.293,00 |
12,17 |
|
|
|
|
|
|
|
LIABILITY |
|
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||
|
|
|
|
|
|
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Non-current liiabilities |
|
|
||
|
Financing obtained |
1.482.987,00 |
1.280.563,00 |
2.053.362,00 |
15,81 |
|
Other payable accounts |
46.708,00 |
46.708,00 |
46.708,00 |
|
|
Total |
1.529.695,00 |
1.327.271,00 |
2.100.070,00 |
15,25 |
|
|
|
|
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Current liabilities |
|
|
||
|
Suppliers |
2.055.251,00 |
3.287.917,00 |
2.107.143,00 |
(37,49) |
|
Advances from costumers |
8.750,00 |
|
|
|
|
State and other public entities |
24.563,00 |
28.656,00 |
196.790,00 |
(14,28) |
|
Financing obtained |
1.716.915,00 |
1.809.433,00 |
1.369.495,00 |
(5,11) |
|
Other payable accounts |
771.467,00 |
1.258.198,00 |
94.799,00 |
(38,68) |
|
Total |
4.576.946,00 |
6.384.204,00 |
3.768.227,00 |
(28,31) |
|
TOTAL LIABILITIES |
6.106.641,00 |
7.711.475,00 |
5.868.297,00 |
(20,81) |
|
TOTAL SHAREHOLDERS FUNDS AND LIABILITIES |
8.839.142,00 |
10.147.525,00 |
8.026.590,00 |
(12,89) |
|
|
|
|
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INCOME STATEMENT |
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||
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|
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|
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INCOME AND EXPENSES |
|
|
||
|
Sales and services |
16.787.686,00 |
11.654.200,00 |
8.553.487,00 |
44,05 |
|
Variation in production inventories |
(896.334,00) |
729.130,00 |
542.281,00 |
(222,93) |
|
Cost of goods sold and materials consumed |
(12.752.766,00) |
9.869.479,00 |
6.806.795,00 |
(229,21) |
|
Suppliers and external services |
(2.057.000,00) |
1.521.895,00 |
1.377.594,00 |
(235,16) |
|
Other income and gains |
93.884,00 |
108.453,00 |
31.829,00 |
(13,43) |
|
Other expenses and losses |
(50.331,00) |
16.636,00 |
8.179,00 |
(402,54) |
|
Result before depreciation, financing
costs and taxes |
1.125.139,00 |
1.083.773,00 |
935.029,00 |
3,82 |
|
Expenses/reversals of depreciation and
amortization |
(579.708,00) |
601.692,00 |
501.085,00 |
(196,35) |
|
Operating result (before financing costs
and taxes) |
545.431,00 |
482.081,00 |
433.944,00 |
13,14 |
|
Interest and similar income obtained |
|
7.830,00 |
163,00 |
|
|
interest and similar expenses incurred |
(131.856,00) |
96.460,00 |
72.515,00 |
(236,70) |
|
Net before taxes |
413.575,00 |
393.451,00 |
361.592,00 |
5,11 |
|
Income tax of the period |
(117.124,00) |
115.694,00 |
101.831,00 |
(201,24) |
|
Net profit for the period |
296.451,00 |
277.757,00 |
259.761,00 |
6,73 |
|
Closing Date |
31-12-2012 |
31-12-2011 |
31-12-2010 |
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TURNOVER RATIOS |
|
|||
|
Shareholder's Funds Profitability |
0,108 |
0,114 |
0,12 |
|
|
Assets Profitability |
0,062 |
0,048 |
0,054 |
|
|
Sales Net Profitability |
0,018 |
0,024 |
0,03 |
|
|
|
|
|
|
|
|
EFFICIENCY RATIOS |
|
|
||
|
Medium Term Receivable |
76,291 |
119,361 |
85,924 |
|
|
Asset Rotation |
1,899 |
1,148 |
1,066 |
|
|
|
|
|
|
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|
SHORT TERM RATIOS |
|
|
||
|
General Liquidity |
1,467 |
1,191 |
1,468 |
|
|
Reduced Liquidity |
0,942 |
0,638 |
0,814 |
|
|
Immediate Liquidity |
0,096 |
0,017 |
0,225 |
|
|
|
|
|
|
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|
MEDIUM LONG TERM RATIOS |
|
|
||
|
Financial Autonomy |
0,309 |
0,24 |
0,269 |
|
|
Solvability |
0,447 |
0,316 |
0,368 |
|
|
Borrowed Capital Structure |
0,75 |
0,828 |
0,642 |
|
|
General Debt |
1,171 |
1,268 |
1,586 |
|
|
Medium Long Term Debt |
0,543 |
0,526 |
0,951 |
|
|
Debt Structure |
0,75 |
0,828 |
0,642 |
|
|
Capital Structure |
1,786 |
1,835 |
1,028 |
|
|
|
|
|
|
|
|
Operational and Financial Risk |
|
|
||
|
Operational Leverage Level |
54,16 |
3,702 |
4,025 |
|
|
Financial Leverage Level |
1,319 |
1,225 |
1,2 |
|
|
Combined Leverage Level |
71,437 |
4,535 |
4,83 |
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.11 |
|
|
1 |
Rs.92.97 |
|
Euro |
1 |
Rs.80.95 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.