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Report Date : |
11.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
DOPPLER S.A. |
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Registered Office : |
Polykastro Industrial
Park, 61200 Polykastro, Kilkis |
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Country : |
Greece |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
21.02.2000 |
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Com. Reg. No.: |
045269 |
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Legal Form : |
Societe anonyme |
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Line of Business : |
·
Manufactures
construction machinery ·
Wholesales
industrial supplies |
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No. of Employees : |
183 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Greece |
B2 |
B2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 |
GREECE - ECONOMIC
OVERVIEW
Greece has a capitalist economy with a public sector accounting for about 40% of GDP and with per capita GDP about two-thirds that of the leading euro-zone economies. Tourism provides 15% of GDP. Immigrants make up nearly one-fifth of the work force, mainly in agricultural and unskilled jobs. Greece is a major beneficiary of EU aid, equal to about 3.3% of annual GDP. The Greek economy grew by nearly 4% per year between 2003 and 2007, due partly to infrastructural spending related to the 2004 Athens Olympic Games, and in part to an increased availability of credit, which has sustained record levels of consumer spending. But the economy went into recession in 2009 as a result of the world financial crisis, tightening credit conditions, and Athens' failure to address a growing budget deficit. The economy contracted by 2.3% in 2009, 3.5% in 2010, 6.9% in 2011, and 6.0% in 2012. Greece violated the EU's Growth and Stability Pact budget deficit criterion of no more than 3% of GDP from 2001 to 2006, but finally met that criterion in 2007-08, before exceeding it again in 2009, with the deficit reaching 15% of GDP. Austerity measures reduced the deficit to about 8% in 2012. Deteriorating public finances, inaccurate and misreported statistics, and consistent underperformance on reforms prompted major credit rating agencies to downgrade Greece's international debt rating in late 2009, and has led the country into a financial crisis. Under intense pressure from the EU and international market participants, the government adopted a medium-term austerity program that includes cutting government spending, decreasing tax evasion, overhauling the health-care and pension systems, and reforming the labor and product markets. Athens, however, faces long-term challenges to push through unpopular reforms in the face of widespread unrest from the country's powerful labor unions and the general public. In April 2010 a leading credit agency assigned Greek debt its lowest possible credit rating; in May 2010, the International Monetary Fund and Euro-Zone governments provided Greece emergency short- and medium-term loans worth $147 billion so that the country could make debt repayments to creditors. In exchange for the largest bailout ever assembled, the government announced combined spending cuts and tax increases totaling $40 billion over three years, on top of the tough austerity measures already taken. Greece, however, struggled to meet 2010 targets set by the EU and the IMF, especially after Eurostat - the EU's statistical office - revised upward Greece's deficit and debt numbers for 2009 and 2010. European leaders and the IMF agreed in October 2011 to provide Athens a second bailout package of $169 billion. The second deal however, calls for Greece's creditors to write down a significant portion of their Greek government bond holdings. In exchange for the second loan Greece has promised to introduce an additional $7.8 billion in austerity measures during 2013-15. However, these massive austerity cuts are lengthening Greece's economic recession and depressing tax revenues. Greece's lenders are calling on Athens to step up efforts to increase tax collection, privatize public enterprises, and rein in health spending, and are planning to give Greece more time to shore up its economy and finances. Many investors doubt that Greece can sustain fiscal efforts in the face of a bleak economic outlook, public discontent, and political instability.
|
Source
: CIA |
DOPPLER S.A.
ADDRESS:
POLYKASTRO INDUSTRIAL
PARK
61200
POLYKASTRO
KILKIS
GREECE
TELEPHONE: 30 2343020140
30
2343020150
TELEFAX:
30 2343023701
E-MAIL ADDRESS:
info@doppler.gr
WEB ADDRESS:
www.doppler.gr
Societe anonyme
registered on Feb 21, 2000 for a period ending Dec 31, 2050.
Registration Number: 045269
Government Gazette Number: 01337 / 2000
Chamber of Commerce Number: 539
Tax Registration Number: 099142598
On 23/11/2000 (Gov.
Gaz. No. 10829/2000) a change of subject's head office was published., Listed
in ASE as of: 5,7,2008
CAPITAL
Nominal capital:
3,816,003.
Issued capital: 3,816,003.
Issued/paid-up
capital was last increased on Oct 17, 2007.
Nominal capital is
divided into:
10,600,010 and fully
paid-up.
PRINCIPALS
Stavros Lazaros
Stavropoulos
Chairman
Shareholder
John Dimitrios Vangelatos
Vice-Chairman
Stavros Lazaros
Stavropoulos
Chief executive
Shareholder
Anthoula Stavros
Stavropoulou
Member
John Nikolaos
Papadopoulos
Member
ATTICA BANK S.A.
holds 8.98% of the voting capital.
ZAITECH FUND
A.K.E.S. holds 11.91% of the voting capital.
Stavros Stavropoulos
holds 52.04% of the voting capital.
Athanassia Liartsi
holds 6.55% of the voting capital.
National Bank of
Greece S.A., Polykastro Branch branch., Ambelokipon -
M. Alexandrou, Polykastro
61200, Greece.
Telephone: 30
2343022725
SECURED CHARGES
Subject has
registered secured charges which include the below:
A charge for an
amount of 2,608,282 Euro was registered on 1, 2000. The charge is secured
against Number Of Items: 3, ON: a plot of land 48,628m2, with buildings.
A charge for an
amount of 1,000,000 Euro was registered on 1, 2000. The charge is secured
against Number Of Items: 1, On: a basement 5106m2, ground floor 55m2 a.
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EXP. DATE PAYING RECORD HIGH CREDIT NOW OWES PAST DUE TERM LAST SALE |
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30/9/2013 PROMPT/SLOW 12,912
0 0 30 30/4/2013 |
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30/9/2013 PROMPT/SLOW 484
0 0 30 30/9/2012 |
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30/9/2013 PROMPT 44,728 26,850 0
30 30/8/2013 |
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30/9/2013 SLOW90/120 8,736 8,736 8,736
30 |
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30/9/2013 PROMPT 4,740 0 0 30 30/8/2013 |
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30/9/2013 PROMPT/SLOW 674
0 0 30 30/6/2013 |
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31/8/2013 PROMPT/SLOW 484
0 0 30 31/8/2012 |
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31/8/2013 PROMPT 4,740 4,740 0
30 31/7/2013 |
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31/8/2013 PROMPT/SLOW 674
0 0 30
31/7/2013 |
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13/8/2013 PROMPT/SLOW 12,912
0 0 30 13/3/2013 |
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13/8/2013 PROMPT 44,728 14,334 0
30 13/7/2013 |
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31/7/2013 PROMPT 3,698 3,698 0
30 30/6/2013 |
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31/7/2013 PROMPT 674 0 0 30 28/2/2013 |
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31/7/2013 PROMPT/SLOW 484
0 0 30 31/7/2012 |
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9/7/2013 PROMPT 44,728 16,350 0
30 9/6/2013 |
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9/7/2013 PROMPT/SLOW 12,912
0 0
30 9/2/2013 |
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30/6/2013 PROMPT/SLOW 484
0 0 30 30/6/2012 |
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30/6/2013 PROMPT 674 0 0 30 30/3/2013 |
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28/6/2013 PROMPT/SLOW 44,728
10,224 0 30 28/5/2013 |
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28/6/2013 PROMPT/SLOW 12,912
0 0 30 28/1/2013 |
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31/5/2013 PROMPT 674 0 0 30 28/2/2013 |
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31/5/2013 PROMPT/SLOW 484
0 0 30 31/5/2012 |
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13/5/2013 PROMPT/SLOW 44,728
14,566 2,716 30
13/4/2013 |
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30/4/2013 PROMPT 674 0 0 30 30/3/2013 |
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30/4/2013 PROMPT/SLOW 484
0 0 30 30/11/2012 |
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8/4/2013 PROMPT/SLOW 44,728
12,252 0 30 8/3/2013 |
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31/3/2013 PROMPT/SLOW 484
0 0 30 31/10/2012 |
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11/3/2013 PROMPT/SLOW 44,728
31,266 0 30 11/2/2013 |
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28/2/2013 PROMPT/SLOW 484
0 0 30 28/11/2012 |
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11/2/2013 PROMPT/SLOW 44,728
44,728 0 30 11/1/2013 |
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31/1/2013 PROMPT 862 751 0 30 31/12/2012 |
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31/1/2013 PROMPT/SLOW 311
0 0 30 31/8/2012 |
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31/1/2013 PROMPT 862 862 0 30 31/12/2012 |
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31/1/2013 PROMPT 1,415 0 0 30 31/12/2012
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31/1/2013 PROMPT 862 0 0 30 31/12/2012 |
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31/1/2013 PROMPT 1,415 0 0 30 31/10/2012 |
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31/1/2013 PROMPT 1,415 0 0 30 31/10/2012 |
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31/1/2013 PROMPT/SLOW 311
0 0 30 31/10/2012 |
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31/1/2013 PROMPT/SLOW 484
0 0 30 31/10/2012 |
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7/1/2013 PROMPT/SLOW 42,012
42,012 0 30 7/12/2012 |
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31/12/2012
PROMPT 1,415 1,415 0
30 30/11/2012 |
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31/12/2012
PROMPT/SLOW 484 484 484 30
30/11/2012 |
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10/12/2012
PROMPT/SLOW 32,494 32,494 7,546
30 10/11/2012 |
SUBSIDIARIES
DOPPLER
MANUFACTURERS LIMITED Foreign Participants, Cyprus, Cyprus
Subject owns 100% of
the capital.
AFFILIATES
The following are
related through principal(s) and/or financial interest(s):
ECOPHARM HELLAS S.A.
Societe Anonyme, Kilkis, Greece
Year started: 2000.
This concern is
related through common shareholders.
TOMPOULIDIS, E.,
& CO. O.E. General Partnership, Polykastro, Greece
Year started: 1992.
This concern is
related through common shareholders.
Subject has 2 branches/divisions:
98 Od. Elyti, 13342,
Ano Liossia, Greece. These are rented warehouse premises. Size: 300 square
metres.
12 Lassani, 12132,
Peristeri, Greece. These are rented office premises.
Size: 500 square
metres.
Local Activity Code: 2822
Local Activity Code Type: STAKOD
Equivalent to: NACE
1
Manufactures
construction machinery
Wholesales
industrial supplies
Mfg, imports and
trade of elevators and components, escalators, revelators and parking systems.
Production of
electricity (photovoltaic systems). Imports and trade of photovoltaic systems
and components
Subject produces the following brand(s):
DOPPLER
DOPPLER GREEN ENERGY
Imports 60% from
Austria, China, Germany, Italy, Spain, Switzerland, Turkey
Normal importing
terms are cash against documents
Exports 75% to Albania,
Algeria, Australia, Austria, Azerbaijan, Bahrain, Bangladesh, Belarus, Belgium,
Bosnia Herzegovina, Bulgaria, Burundi, China, Croatia, Cyprus, Czech Republic,
Denmark, Egypt, Ethiopia, Former
Yugoslav Rep of
Macedonia, Georgia, Germany, Ghana, Hungary, India, Iran, Iraq, Ireland,
Israel, Italy, Jordan, Kazakhstan, Kenya, Kuwait, Latvia, Lebanon, Libya,
Lithuania, Malta, Moldova, Montserrat, Morocco,
Netherlands, New
Zealand, Nigeria, Oman, Pakistan, Poland, Portugal, Qatar, Romania, Russian
Fed, Rwanda, Saudi Arabia, Serbia and Montenegro, Slovakia, Slovenia, South
Africa, Sudan, Syria, Tanzania, Tunisia,
Turkey, Uganda,
Ukraine, U A E, U K, Yemen, Zambia, Zimbabwe.
Normal exporting terms are cash against
documents
EMPLOYS: 183 as at Sep 6, 2013 including 0 part-time
staff. The group employs 183.
The number of
employees varies according to needs.
The number of
employees peaks to 183.
Operates from owned factory,
covering approximately 9,500 square metres at heading address.
The site covers
approximately 48,650 square metres.
Registered Office:
At heading
address.
Below Financials are in Euros.
|
Fiscal Fiscal Fiscal |
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Dec
31,2010 Dec 31,2011 Dec 31,2012 |
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Turnover 18,704,045 15,139,066 15,260,635 |
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Pre-Tax
Profit -1,336,714 -1,873,458 -1,691,765 |
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Net
Worth
7,550,013 5,713,390 4,288,156 |
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Fixed
Assets
7,482,989 6,984,038 6,529,010 |
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Total
Assets
35,045,799 32,426,709 31,852,875 |
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Current
Assets
22,611,723 21,231,464 21,670,541 |
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Current
Liabilities
16,704,915 14,628,259 16,541,680 |
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Working
Capital
5,906,808 6,603,205 5,128,861 |
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Long
Term Debt
10,790,871 12,085,060 11,023,039 |
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Financial
Assets
4,618,776 3,985,007 3,459,255 |
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Intangibles 332,309 226,200 194,068 |
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Employees 220 178 181 |
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Net
Worth and Total Assets are tangible figures shown after the deduction of |
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intangible
assets. |
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RATIOS
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Dec
31,2010 Dec 31,2011 Dec 31,2012 |
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Current
Ratio (X) 1.35 1.45 1.31 |
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Solvency
Ratio (%)
364.18 467.56 642.81 |
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Fixed
Assets/Net Worth (%)
99.11 122.24 152.26 |
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Current
Liabs/Net Worth (%)
221.26 256.04 385.75 |
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Asset
Turnover (%)
53.37 46.69 47.91 |
|
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Sales
/ Net Working Cap (X)
3.17 2.29 2.98 |
|
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Assets
/ Sales (%)
187.37 214.19 208.73 |
|
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Profit
Margin (%)
-7.15 -12.38 -11.09 |
|
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S/holders
Return (%)
-17.71 -32.79 -39.45 |
|
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Return
On Assets (%)
-3.81 -5.78 -5.31 |
|
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Sales
/ Employees
85,018.39 85,050.93 84,312.90 |
|
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Profit
/ Employees -6,075.97 -10,525.04 -9,346.77 |
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Abstract from individual fiscal balance
sheet as at Dec 31, 2012 |
|
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LIABILITIES ASSETS |
|
|
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Capital 3,816,004 Land/Buildings 6,045,276 |
|
|
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Retained
Profits -1,330,569 Plant/Machinery 4,891,730 |
|
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Misc
Reserves 1,802,721 Depreciation 4,407,996 |
|
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Net
Worth 4,288,156 Total Fixed Ass 6,529,010 |
|
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Misc
Provisions 381,574 Shares in Group 63,264 |
|
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Misc
Def Liabs 10,641,465 Misc Fin'cl Ass 3,395,991 |
|
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Total Fin'cl Ass
3,459,255 |
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Misc
Intangible 194,068 |
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Total Intangible 194,068 |
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CURRENT LIABILITIES: CURRENT ASSETS: |
|
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Trade
Creditors 4,519,571 Stock 4,901,186 |
|
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Short
term Loans 8,166,058 Trade Debtors 12,632,035 |
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Misc
Current Liabs 3,856,051 Misc Debtors 2,446,894 |
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Cash 1,690,427 |
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TOTAL
CURRENT 16,541,680 TOTAL CURRENT 21,670,542 |
|
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TOTAL
LIABS & NW
31,852,875 TOTAL ASSETS 31,852,875 |
|
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Profit & Loss Account from Jan 1,
2012 to Dec 31, 2012 |
|
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Net Sales 15,260,635 |
|
|
|
Cost of Goods Sold 12,432,542 |
|
|
|
Gross Profit 2,828,093 |
|
|
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Misc Operating Charges 3,857,997 |
|
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Misc Operating Income 1,046,991 |
|
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Net Operating Income 17,087 |
|
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Interest Payable 1,708,852 |
|
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Total Financial Expenses 1,708,852 |
|
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Profit Before Taxes -1,691,765 |
|
|
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Income Tax -266,531 |
|
|
|
Profit After Tax -1,425,234 |
|
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Net Loss 1,425,234 |
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Earnings per Share -0 |
|
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Previous Year -0 |
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According to the balance sheet as of Dec
31, 2012. |
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The above mentioned financial figures
are in Euro |
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|
|
Subject to the foregoing, the financial statements
give a true and fair |
|
|
|
view of the company's affairs. |
Information
in this report was obtained from official and publicly available sources.
No further information
concerning the subject company was retrieved.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.21 |
|
|
1 |
Rs.100.65 |
|
Euro |
1 |
Rs.84.15 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
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.