MIRA INFORM REPORT

 

 

Report Date :

28.12.2013

 

IDENTIFICATION DETAILS

 

Name :

JOCAR DE CARLOS OSCA SL

 

 

Registered Office :

C/ Zamora, 91-95 3 4, Barcelona, 08018

 

 

Country :

Spain

 

 

Financials (as on) :

31.12.2012

 

 

Year of Establishments:

2003

 

 

Com. Reg. No.:

B63240626

 

 

Legal Form :

Private Independent Company

 

 

Line of Business :

Wholesaler of clothing and footwear

 

 

No. of Employees :

08

 

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 – September 30th, 2013

 

Country Name

Previous Rating

(30.06.2013)

Current Rating

(30.09.2013)

Spain

A2

A2

 

Risk Category

ECGC Classification

 

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Spain ECONOMIC OVERVIEW

 

After almost 15 years of above average GDP growth, the Spanish economy began to slow in late 2007 and entered into a recession in the second quarter of 2008. GDP contracted by 3.7% in 2009, ending a 16-year growth trend, and by another 0.3% in 2010; GDP expanded 0.4% in 2011, before contracting 1.4% in 2012. The economy has once again fallen into recession as deleveraging in the private sector, fiscal consolidation, and continued high unemployment weigh on domestic demand and investment, even as exports have shown signs of resiliency. The unemployment rate rose from a low of about 8% in 2007 to 26.0% in 2012. The economic downturn has also hurt Spain's public finances. The government budget deficit peaked at 11.2% of GDP in 2010 and the process to reduce this imbalance has been slow despite the central government's efforts to raise new tax revenue and cut spending. Spain reduced its budget deficit to 9.4% of GDP in 2011, and roughly 7.4% of GDP in 2012, above the 6.3% target negotiated between Spain and the EU. Although Spain''s large budget deficit and poor economic growth prospects remain a source of concern for foreign investors, the government''s ongoing efforts to cut spending and introduce flexibility into the labor markets are intended to assuage these concerns. The government is also taking steps to shore up the banking system, namely by using up to $130 billion in EU funds to recapitalize struggling banks exposed to the collapsed domestic construction and real estate sectors.

 

Source : CIA

Company name & address

 

Jocar De Carlos Osca Sl

C/ Zamora, 91-95 3 4.

Barcelona, 08018

Spain

Tel:       +(34) 932058783

 

 

Synthesis  

 

Employees:                  8

Company Type:            Private Independent

Incorporation Date:         2003    

Financials in:                 USD (Millions)

Fiscal Year End:            10-Sep-2013

Reporting Currency:       Euro

Annual Sales:                2.0  1

Net Income:                  0.0

Total Assets:                2.3

 

 

Business Description     

 

Wholesale of clothing and footwear

 

Industry

Industry            Clothing and Apparel Wholesale

ANZSIC 2006:    371 - Textile, Clothing and Footwear Wholesaling

ISIC Rev 4:        4641 - Wholesale of textiles, clothing and footwear

NACE Rev 2:     4642 - Wholesale of clothing and footwear

NAICS 2012:     4243 - Apparel, Piece Goods, and Notions Merchant Wholesalers

UK SIC 2007:    4642 - Wholesale of clothing and footwear

US SIC 1987:    513 - Apparel, Piece Goods, and Notions

 

 

Key Executives                                                      

 

Name

Title

Carlos Osca Subira

Chief Executive Officer, Member Of The Board, Secretary

Carlos Osca Sole

Member Of The Board, President

Carmen Subira Jordan

Member Of The Board

 

1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7638518

2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7540915

 

 

Corporate Overview

 

Location

C/ Zamora, 91-95 3 4.

Barcelona, 08018

Spain

Tel:       +(34) 932058783

           

Sales EUR(mil):             1.6

Assets EUR(mil):           1.7

Employees:                   8

Fiscal Year End:            10-Sep-2013

Industry:                        Apparel and Accessories

Incorporation Date:         2003

Company Type:             Private Independent

Quoted Status:              Not Quoted

Registered No.(  ESP):   B63240626

 

Chief Executive Officer, Member Of The Board, Secretary:

Carlos Osca Subira

 

Industry Codes

 

ANZSIC 2006 Codes:

371       -          Textile, Clothing and Footwear Wholesaling

 

ISIC Rev 4 Codes:

4641     -          Wholesale of textiles, clothing and footwear

 

NACE Rev 2 Codes:

4642     -          Wholesale of clothing and footwear

 

NAICS 2012 Codes:

4243     -          Apparel, Piece Goods, and Notions Merchant Wholesalers

 

US SIC 1987:

513       -          Apparel, Piece Goods, and Notions

 

UK SIC 2007:

4642     -          Wholesale of clothing and footwear

Business Description

Wholesale of clothing and footwear

 

Financial Data

Financials in:

EUR(mil)

 

Revenue:

1.6

Net Income:

0.0

Assets:

1.7

Current Assets:

1.3

 

Fixed Assets:

0.4

 

Long Term Debt:

0.8

 

Total Liabilities:

1.7

 

Issued Capital:

0.2

 

Net Worth:

0.6

 

 

 

Date of Financial Data:

10-Sep-2013

 

1 Year Growth

NA

NA

NA

 Top

 

 

 

 

Key Corporate Relationships

Bank:

Caixa D'Estalvis De Tarragona, Caixa D'Estalvis De Terrassa, Banco Santander Central

Hispano, S.A., Caixa D'Estalvis De Catalunya (Caixa Catalunya), Banco Popular Español, S.A.,

Banco De Sabadell, S.A.

 

 

 

Executive report

 

Board of Directors

 

Name

Title

Function

 

Carlos Osca Sole

 

Member Of The Board, President

Director/Board Member

 

Carlos Osca Subira

 

Chief Executive Officer, Member Of The Board, Secretary

Director/Board Member

 

Carmen Subira Jordan

 

Member Of The Board

Director/Board Member

 

 

 

 

Executives

 

Name

Title

Function

 

Carlos Osca Subira

 

Chief Executive Officer, Member Of The Board, Secretary

Chief Executive Officer

 

Carlos Osca Sole

 

Member Of The Board, President

President

 

 

Annual Profit & Loss

 

 

 

31-Dec-2012

31-Dec-2011

31-Dec-2010

Period Length

12 Months

12 Months

12 Months

Filed Currency

EUR

EUR

EUR

Exchange Rate (Period Average)

0.778237

0.71919

0.755078

Consolidated

No

No

No

 

 

 

 

Charges

2.0

3.4

4.3

    Staff Costs

0.3

0.4

0.6

        Wages and Salaries

0.3

0.4

0.5

        Social Security Costs

0.1

0.1

0.1

    Depreciation

0.0

0.0

0.0

    Other Operating Charges

0.5

0.9

1.2

Operating Benefits

0.1

0.2

0.2

    Financials and Similar Charges

0.1

0.2

0.2

        Due to Other Liabilities

0.1

0.2

0.2

    Exchange Losses

0.0

-

-

Profit From Ordinary Activities

0.0

-

0.0

    Losses From Assets and Securities Portfolio

-

-

0.0

Extraordinary Profit

0.0

0.0

-

Profit Before Taxes

0.0

0.0

0.0

    Corporation Tax

0.0

-

0.0

Financial Year Result (Profit)

0.0

0.0

0.0

Income

2.0

3.4

4.3

    Net Total Sales

2.0

3.4

4.3

    Gains from Exchange Rate

-

0.0

0.0

Negative Financial Results

0.1

0.2

0.2

Ordinary Activities' Losses

-

0.0

-

    Extraordinary Income

0.0

0.0

-

Negative Extraordinary Results

-

-

0.0

 

Annual Balance Sheet

 

Financials in: USD (mil)

 

 

 

31-Dec-2012

31-Dec-2011

31-Dec-2010

Filed Currency

EUR

EUR

EUR

Exchange Rate

0.7566

0.770327

0.745406

Consolidated

No

No

No

 

 

 

 

    Total Intangible Fixed Assets

0.0

0.1

0.0

    Total Tangible Fixed Assets

0.5

0.5

0.5

    Financial Investments

0.0

0.0

0.0

Total Fixed Assets

0.5

0.5

0.5

    Total Stocks

1.0

1.0

1.0

    Total Debtors

0.3

0.3

0.4

    Total Short-Term Investments

0.3

0.4

0.2

    Cash

0.1

0.0

0.3

    Prepayments and Accrued Income

0.1

0.1

0.0

Total Current Assets

1.8

1.8

1.9

Total Assets

2.3

2.3

2.4

    Total Reserves

0.6

0.6

0.6

    Profit or Loss for the Financial Year

0.0

0.0

0.0

Total Equity

0.8

0.8

0.9

Total Long Term Liabilities

1.0

0.2

0.4

Total Short Term Creditors

0.4

1.3

1.1

Total Liabilities and Equity

2.3

2.3

2.4

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.06

UK Pound

1

Rs.102.03

Euro

1

Rs.85.27

 

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.