MIRA INFORM REPORT

 

 

Report Date :

30.12.2013

 

IDENTIFICATION DETAILS

 

Name :

INVESTA SP. Z O.O.

 

 

Formerly Known as: 

INVESTA SA

 

 

Registered Office :

ul. Zastawna 27 , 83-000 Pruszcz Gdanski

 

 

Country :

Poland

 

 

Financials (as on) :

31.12.2012

 

 

Date of Incorporation :

30.06.1987

 

 

Com. Reg. No.:

226221 KRS

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

engaged in storage and sale of steel products, alloy steel, stainless, acid resistant, heat resistant steel; services in scope of laminating metal sheets, laser cutting and transport

 

 

No. of Employees 

330 pers. (2013)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory 

 

 

Payment Behaviour :

No Complaints 

 

 

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 30, 2013

 

Country Name

Previous Rating

(30.06.2013)

Current Rating

(30.09.2013)

Poland

B1

B1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 


 

Poland ECONOMIC OVERVIEW

 

Poland has pursued a policy of economic liberalization since 1990 and Poland's economy was the only one in the European Union to avoid a recession through the 2008-09 economic downturn. Although EU membership and access to EU structural funds have provided a major boost to the economy since 2004, GDP per capita remains significantly below the EU average while unemployment continues to exceed the EU average. The government of Prime Minister Donald TUSK steered the Polish economy through the economic downturn by skillfully managing public finances without stifling economic growth and adopted controversial pension and tax reforms to further shore up public finances. While the Polish economy has performed well over the past five years, growth slowed in 2012, in part due to the ongoing economic difficulties in the euro zone. The key policy challenge is to provide support to the economy through monetary easing, while maintaining the pace of structural fiscal consolidation. Poland's economic performance could improve over the longer term if the country addresses some of the remaining deficiencies in its road and rail infrastructure and its business environment. An inefficient commercial court system, a rigid labor code, red tape, and a burdensome tax system keep the private sector from realizing its full potential.

 

Source : CIA

 


Identification details      

                                            

Full name:

INVESTA sp. z o.o.

Stat.no

008008662

Tax ID

PL 5840253645

Reg.no

226221 KRS

 

Contact data

Registered address:

ul. Zastawna 27                              

83-000 Pruszcz Gdanski

 

 

Phone:

587739701

 

 

5 8 7739725

 

 

Fax:

58 7739700

 

 

E-mail:

investa@investa.pl

 

 

Website:

www.investa.pl

 

 

Other locations

YES                                

 

 

 

 

registry data

    

Legal form

Limited liability company

Shareholders

AMARI METALS                     

EUROPELTD.                   (Owners)

Registration date:

12.01.2005

 

 

 

 

Activity since:

30.06.1987

President

Dariusz Maciej                       Czapiewski

 

(Management )

Age:

26 years

 

 

 

 

 

Basic figures       

 

Employment

330 pers. (2013)

Total assets (PLN)

150,52 MLN (2012)

Turnover (PLN)

370,67 MLN (2012)

Equity (PLN)

22,67 MLN (2012)

Net profit (PLN)

9,53 MLN (2012)

Total liabilities (PLN)

127,85 MLN (2012)

Gross margin

15,05 % (2012)

Working capital (PLN)

44,83 MLN (2012)

 

Payment Manner

In available sources, payment delays have not been noted )

 

 


Registry data

 

Legal form

Limited liability company

Stat.no.

008008662

Tax ID

PL 5840253645

 

 

establishment

 

30.06.1987 as Joint Stock Company under name KANTOR SA at the address ul. Zalogowa 6, 80-557 Gdansk

 

05.01.1993  under name INVESTA SA

 

01.10.2001  at the address ul. Zastawna 27, 83-000 Pruszcz Gdanski

 

30.12.2004 as Limited liability company under name INVESTA sp. z o.o.

 

 

Registration

 

12.01.2005, District Court Gdansk, VII Department, KRS 226221

 

Data concerning previous registrations:

05.08.1987, District Court Gdansk, RHB 586

18.06.2001, District Court Gdansk, KRS 20235

 

 

Main activity

 

engaged in storage and sale of steel products, alloy steel, stainless, acid resistant, heat resistant steel; services in scope of laminating metal sheets, laser cutting and transport

 

sector code NACE 2007

Branches

(G.46.72.Z)

Other wholesale

(C.25.62.Z)

General mechanical engineering

 

 

Owners & managers

 

Initial capital

PLN 12 050 000

Initial capital divided into 241000 shares of PLN 50,00 each

 

 

 

 

Changes of initial capital

 

- since 31.05.2011  until 04.11.2011  the capital estimated

PLN 12 162 500

- since 31.03.2011  until 31.05.2011  the capital estimated

PLN 162 500

- since 12.01.2005  until 31.03.2011  the capital estimated

PLN 112 500

 

 

Shareholders

Shareholder

Shares

 

Value

 

AMARI METALS EUROPE LTD.

100%

PLN

12 050 000

 

list entered to NCR /KRS/ on 27.04.2012

 

 

 

Management

Dariusz Maciej Czapiewski

PERSONAL ID NO. (PESEL) 58101801932

ul. Nadmorska 13, 80-341 Gdansk

- president

 

 

 

 

 

 

David Sims

Heathfield 1, KT 112 QY Cobham Surrey, United Kingdom

- member of board of directors

 

 

 

 

 

Proxies:

Maciej Radoslaw Suska

PERSONAL ID NO. (PESEL) 73010402517

ul. Gryfa Pomorskiego 3C, 80-299 Gdansk

- joint proxy

 

 

 

 

 

 

Barbara Kaszubska

PERSONAL ID NO. (PESEL) 64031611383 ul. Serdeczna 10, 80-176 Gdansk

- joint proxy

 

 

 

 

 

Representation:

In the case of a collective board, the president of the company individually or two members of the management board jointly, or one board member together with a proxy are authorized to file statements on behalf of the company. In the case of a one-man board, the president of the board is authorized to file statements on behalf of the company.

 

 

Business links

 

Shares in other                As at 21.11.2013 there are no shares in other companies.

Companies

 

Connections:

Dariusz Maciej Czapiewski

 

 

INVESTA METALE POLSKA sp. z o.o. w likwidacji NIP 5252528921

ul. Zastawna 27, 83-000 Pruszcz Gdanski

• member of representation unit

 

 

 

 

STOWARZYSZENIE STAL NIERDZEWNA NIP 9542738184

ul. Ligocka 103/-, 40-568 Katowice

• member of supervisory board

 

 

 

< 

Z 27 Sp. z o.o. NIP 6040012739

ul. Zastawna 27, 83-000 Pruszcz Gdanski

• president

 

 

 

 

DARCZA Sp. z o.o. NIP 5932269996

ul. Zastawna 27, 83-000 Pruszcz Gdanski

 

shareholder: PLN 40 260 000,00

 

president

 

David Sims

Connections have not been determined due to no possibility of identification of the persons or subjects which appear in the company.

 

 

 

 

 

Data concerning connections are valid as at: 21.11.2013.

 

 

 

Key business figures

(recent years)

 

 

2013

 

2012

 

2011

 

2010

Employment

330

(+11%)

297

(+24%)

240

(+12%)

215

 

 

Selected financial data - unconsolidated (ths.)

 

01.01.2012 - 31.12.2012

y/y

01.01.2011

- 31.12.2011

y/y

01.01.2010

- 31.12.2010

y/y

01.01.2009

- 31.12.2009

Net sales

370 671

(+9%)

338 790

(+28%)

263 598

(+69%)

155 558

Net profit

9 531

(+57%)

6 058

(+66%)

3 643

(+234%)

-2 710

Total assets

150 517

(+20%)

124 659

(+33%)

93 704

(+16%)

80 411

Equity

22 671

(+72%)

13 140

(-61%)

34 170

(-19%)

42 527

Total liabilities

127 846

(+14%)

111 519

(+87%)

59 534

(+57%)

37 885

Working capital

40 449

(0%)

40 709

(+1730%)

2 224

(+77%)

1 252

 

 

Further locations

 

Locations

ul. Zastawna 27, 83-000 Pruszcz Gdanski (seat)

Phone:               58 7739701

58 7739725

58 7739777

Fax:                   58 7739700

E-mail:      investa@investa.pl

Website:    www.investa.pl

 

Smolice 1G, 95-010 Strykow (warehouse)

Phone:           42 2303932

Fax:                42 2303901

E-mail:        metalcentrum@metalcentrum.com.pl

Website:     www.metalcentrum.com.pl

 

ul. 3 Maja 8 (budynek B9), 05-800 Pruszkow (branches)

ul. Gieldowa 12M, 52-438 Wroclaw (branches)

ul. Pilnik 19, 11-100 Lidzbark Warminski (branches)

ul. Magazynowa 10 (budynek nr 2-001, sektor F), 62-030 Lubon (branches)

ul. Magazynowa 10, 62-030 Lubon (branches)

ul. Plonow 21, 41-200 Sosnowiec (branches)

 

 

Additional information

 

Real Estate

ul. Zastawna 27, 83-000 Pruszcz Gdanski (ownership) plot of area 20 000 sq.m. buildings of area 2 990 m kw.,

 

 

 

 

 

 

 

Book value of buildings as at 31.12.2012

PLN

364 979

 

 

 

 

 

Verification of information on real estate ownership position through the Real Estate Register is not covered by the standard report.

 

 

Means of transport                     20 - Passenger cars (ownership

 

Taking overs                             31.03.2011 (Entry date) - merger

INVESTA sp. z o.o.,

ul. Zastawna 27, 83-000 Pruszcz Gdanski

(as taking over)(Resolution date 28.02.2011 )

 

 

INVESTA METALE Sp. z o.o.

KRS 217902

al. Jana Pawla II 29, 00-867 Warszawa

(as taken over)

 

Certificates                                ISO 9001:2008

valid until 31.08.2015

 

General information                    The company has approximately 2,000 customers. Suppliers are mainly steel mills from Germany, Norway, Finland, Italy and France.

 

The company is an authorized distributor of products in Poland of the following companies: ALFA LAVAL, DEFINOX (Group Defontaine) and Dockweiler.

 

 

Import                                       Finland, Norway, France, Italy, Germany

 

Export                                       Lithuania, Latvia


Banks               MBANK SA

O. Korporacyjny Gdansk (11401065)

ul. Waly Jagiellonskie 8, 80-900 Gdansk

Acc.no. 62114010650000400284001001

 

Societe Generate SA Oddzial w Polsce

Oddzial w Polsce (18400007)

Marszalkowska 111, 00-102 Warszawa

Acc.no. 15184000072911606008101519

 

Bank Millennium SA

Millennium - Centrum Rozliczeniowe  (11602202)

ul. Stanislawa Zaryna 2A, 02-593 Warszawa

Acc.no. 65116022020000000061893297

 

FINANCIAL ANALYSIS

 

LIQUIDITY

COMPANY

SECTOR(G.46.72.Z)

 

 

01.01.2012­31.12.2012

01.01.2011­31.12.2011

01.01.2010­31.12.2010

01.01.2009­31.12.2009

2012

2011

2010

2009

Current ratio (CR)

current assets/ current liabilities

1,51 -

1,51 ■»

1,51

2,05 ~

1,37

1,34

1,23

1,09

Quick ratio (QR)

curr.assets-inventories-prepaym. /current liabilities

0,73 ■*

0,83 ■»

0,77

1,31 ~

0,71

0,77

0,73

0,65

Cash Ratio

Cash/ current liabilities

0,18 ■♦

0,18 -

0,06

0,59 ~

0,04

0,04

0,04

0,03

 

Profitability                                                                   

Company

SECTORfC.14.31.Z~)

 

 

01.01.2012­31.12.2012

01.01.2011­31.12.2011

01.01.2010­31.12.2010

01.01.2009­31.12.2009

2012

2011

2010

2009

Return on Sale (ROS)

Net profit/ turnover

2,57 ■►

1,79

1,38

-1,74

-0,18

0,99

1,87

-0,96

 

 

 

 

 

 

 

 

 

Return on Assets (ROA)

Net profit / total assets

6,33 ■►

4,86

3,89

-3,37

-0,36

2,22

2,89

-1,38

 

 

 

 

 

 

 

 

 

Return on Equity (ROE)

Net profit / equity

42,04 ■»

46,10

10,66

-6,37

-1,25

6,30

6,99

-3,21

 


EFFECTIVNESS RATIOS

 

COMPANY

 

SECTOR(G.46.72.Z)

 

 

01.01.2012­31.12.2012

01.01.2011­31.12.2011

01.01.2010­31.12.2010

01.01.2009­31.12.2009

2012

2011

2010

2009

 

 

 

 

 

 

 

 

 

 

 

Debt collection period (days)

47 ■»

50 ■»

56 ■»

61  ■►

50

56

72

71

 

short-term receivables x number of days /net sales

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Stock turnover (days)

stocks x days/ turnover

67 ■►

51 ■»

58 ■»

63  ■►

53

45

54

52

 

DEBT RATIOS

 

COMPANY

 

 

SECTOR(G.46.72.Z)

 

01.01.2012­31.12.2012

01.01.2011­31.12.2011

 

01.01.2010­31.12.2010

01.01.2009­31.12.2009

2012

2011

2010

2009

Average payables payment period

creditors (liabilities) x days /turnover

86,30  ■»

76,29 ■»

79,36 ■»

85,95 ■►

81,11

81,10

109,55

119,28

Debt ratio

total debt (liabilities)

/total assets

84,94  ■»

89,46 ■►

63,53 ■►

47,11  ■►

70,88

64,74

58,63

56,90

 

RATIO COMPARISON SHEET (G.46.72.Z)

 

 

2012

 

2011

2010

LIQUIDITY

 

 

 

 

 

 

Current ratio (CR)

BETTER +10%

BETTER +12%

BETTER +22%

Quick ratio (QR)

BETTER +2%

BETTER +7%

BETTER +5%

Cash Ratio

BETTER +350%

BETTER +350%

BETTER +50%

PROFITABILITY

 

Return on sale (ROS)

BETTER +1527%

BETTER +80%

WORSE -26%

Return on assets (ROA)

BETTER +1858%

BETTER +118%

BETTER +34%

Return on equity (ROE)

BETTER +3463%

BETTER +631%

BETTER +52%

EFFECTIVNESS RATIOS

 

Debt collection period (days)

BETTER -6%

BETTER -11%

BETTER -21%

Stock turnover (days)

WORSE +25%

WORSE +11%

WORSE +6%

DEBT RATIOS

 

 

 

 

 

 

Average payables payment period

WORSE +6%

BETTER -5%

BETTER -27%

Debt ratio

WORSE +19%

WORSE +38%

WORSE +8%

 

RATIO - BASED TREND COMPARISON SHEET (G.46.72.Z)

 

2012

2011

2010

LIQUIDITY

 

 

 

 

 

 

Current ratio (CR)

WORSE -100%

WORSE -100%

WORSE -485%

Quick ratio (QR)

WORSE -66%

BETTER +50%

WORSE -775%

Cash Ratio

 

 

 

 

WORSE -5400%

PROFITABILITY

 

 

 

 

 

 

Return on sale (ROS)

BETTER +166%

BETTER +146%

BETTER +10%

Return on assets (ROA)

BETTER +156%

BETTER +244%

BETTER +70%

Return on equity (ROE)

BETTER +46%

BETTER +5236%

BETTER +66%

EFFECTIVNESS RATIOS

 

Debt collection period (days)

WORSE +56%

WORSE +57%

BETTER -1493%

Stock turnover (days)

WORSE +110%

WORSE +20%

BETTER -327%

DEBT RATIOS

 

 

 

 

 

 

Average payables payment period

WORSE +100000%

WORSE +89%

WORSE +32%

 


Financial STATEMENTS 

 

Source of financial data

Court

Court

Court

Court

Statement

annual

annual

annual

annual

Personal balance sheet as at(ths.PLN)

31.12.2012

share

31.12.2011

share

31.12.2010

share

31.12.2009

share

-A. Fixed assets

18 290

(12%)

17 395

(14%)

7 093

(8%)

5 365

(7%)

-      I.    Intangible assets

281

(0.2%)

78

(0.1 %)

138

(0.1%)

202

(0.3%)

-            3. Other intangible assets

 

 

 

 

138

( 0.1%)

 

 

-      II.  Tangible assets

16 428

(11%)

15 369

(1 2%)

6 123

(7%)

3 991

(5%)

-             1. Fixed goods

16 249

( 11%)

15 059

( 1 2%)

6 024

( 6%)

3 991

(5%)

-                   a) land

 

 

1 623

 

1 605

 

 

 

-                   b) buildings, premises, facilities

365

 

396

 

312

 

259

 

-                   c) machinery and equipment

12 947

 

11 225

 

2 725

 

2 753

 

-                   d) fleet of motor vehicles

1 864

 

896

 

824

 

599

 

-                   e) other fixed goods

1 073

 

919

 

557

 

380

 

-            3. Prepayments for fixed

goods under construction

179

( 0.1%)

310

( 0.2%)

99

( 0.1%)

 

 

-      V. Long-term prepayments and accrued income

1 582

(1%)

1 948

(2%)

832

(0.9%)

1 173

(2%)

-             1. Deferred tax assets

1 582

( 1%)

1 948

(2%)

832

(0.9%)

1 173

(2%)

-B. Current assets

132 227

(88%)

107 264

(86%)

86 611

(92%)

75 046

(93%)

-      I. Stock

67 871

(45%)

47 600

(38%)

41 934

(45%)

26 979

(34%)

-             1. Raw materials

217

( 0.1%)

353

(0.3%)

 

 

 

 

-            4. Goods for re-sale

67 641

( 45%)

47 224

(38%)

41 934

( 45%)

26 978

( 34%)

-             5. Advance payments

14

 

23

 

 

 

1

 

-      II. Short-term receivables

48 231

(32%)

46 461

(37%)

41 013

(44%)

26 044

(32%)

-             1. Receivables from affiliated companies

925

(0.6%)

 

 

 

 

 

 

-                   a) Due to deliveries and

services with payment period:

925

 

 

 

 

 

 

 

-                         - up to 12 months

925

 

 

 

 

 

 

 

-            2. Other receivables

47 306

( 31%)

46 461

( 37%)

41 013

( 44%)

26 044

( 32%)

-                   a) Due to deliveries and

services with payment period:

46 580

 

45 156

 

40 482

 

25 657

 

-                         - up to 12 months

46 580

 

45 156

 

40 482

 

25 657

 

-                   b) Due to taxes,

subsidies, insurances, duties, etc

335

 

1 096

 

440

 

82

 

-              c) Other

392

 

210

 

91

 

305

 

-      III. Short term investments

15 527

(10%)

12 613

(1 0%)

3 264

(4%)

21 765

(27%)

-             1. Short-term financial assets

15 527

( 10%)

12 613

( 1 0%)

3 264

( 4%)

21 765

( 27%)

-                   b) Other

 

 

 

 

18

 

 

 

-                         - participations of shares

 

 

 

 

18

 

 

 

-                   c) cash and other liquid assets

15 527

 

12 613

 

3 246

 

21 765

 

-     cash in hand and on bank account            15 527

 

12 613

 

3 246

 

21 765

 

-      IV. Short-term prepayments and accrued income

597

(0.4%)

589

(0.5%)

400

(0.4%)

258

(0.3%)

D .Total assets  

150 517

(100%)

124 659

(100%)

93 704

(100%)

80 411

(100%)

 


 



Statement

annual

annual

annual

annual

Personal balance sheet as at(ths.PLN)

31.12.2012

share

31.12.2011

share

31.12.2010

share

31.12.2009

share 1

-A. Shareholders' equity

22 671

(15%)

13 140

(11%)

34 170

(37%)

42 527

(53%)

-      I.    Basic share capital

12 050

(8%)

12 050

(1 0%)

113

(0.1%)

113

(0.1%)

-      IV.   Statutory reserve capital

6 058

(4%)

202

(0.2%)

33 803

(36%)

45 803

(57%)

-      VI.  Other reserve capital

202

(0.1%)

 

 

230

(0.2%)

230

(0.3%)

-      VII. Profit (loss) carried forward

-5 170

(-3%)

-5 170

(-4%)

-3 619

(-4%)

-909

(-1%)

-      VIII. Net profit (loss)

9 531

(6%)

6 058

(5%)

3 643

(4%)

-2 710

(-3%)

-B. Liabilities and reserves for liabilities

127 846

(85%)

111 519

(90%)

59 534

(64%)

37 885

(47%)

-      I.    Reserves for liabilities

5 690

(4%)

2 070

(2%)

401

(0.4%)

156

(0.2%)

-             1. Deferred income tax reserves

329

( 0.2%)

212

( 0.2%)

130

( 0.1%)

156

(0.2%)

-            3.Other reserves

5 360

( 4%)

1 858

(2%)

271

( 0.3%)

 

 

-                   - long-term

 

 

 

 

271

 

 

 

-                   - short-term

5 360

 

1 858

 

 

 

 

 

-      II.  Long-term liabilities

34 702

(23%)

38 607

(31%)

1 601

(2%)

877

(1%)

-            2. Other liabilities

34 702

( 23%)

38 607

( 31%)

1 601

(2%)

877

( 1%)

-                   a) Loans

25 000

 

29 545

 

 

 

877

 

-                   c) Other financial liabilities

9 702

 

9 062

 

1 601

 

 

 

-      III. Short-term liabilities

87 397

(58%)

70 810

(57%)

57 309

(61%)

36 632

(46%)

-             1. Due to affiliated companies

261

( 0.2%)

 

 

1 952

(2%)

 

 

-                   a) Due to deliveries and

services with payment period:

 

 

 

 

1 952

 

 

 

-                         - up to 12 months

 

 

 

 

1 952

 

 

 

-            2. Other liabilities

87 020

( 58%)

70 690

( 57%)

55 272

( 59%)

36 585

(46%)

-                   a) Loans

 

 

 

 

265

 

 

 

-                   b) Issued securities

 

 

3 015

 

 

 

 

 

-                   c) Other financial liabilities

3 929

 

 

 

530

 

263

 

-                   d)Due to deliveries and

services with payment period:

81 975

 

63 624

 

50 526

 

33 045

 

-                         - up to 12 months

81 975

 

63 624

 

50 526

 

33 045

 

-                   e) Advances received

19

 

45

 

3

 

70

 

-                   g) Due to taxes,

subsidies, insurances, duties, etc

1 076

 

3 991

 

3 937

 

3 197

 

-                   h) Due to salaries

21

 

1

 

2

 

 

 

-                   i) Other

 

 

14

 

10

 

11

 

-            3. Special funds

116

( 0.1%)

120

( 0.1 %)

86

( 0.1%)

48

(0.1%)

-      IV.  Accruals and deferred income

57

 

32

 

222

(0.2%)

219

(0.3%)

-             1. Negative company's worth

 

 

 

 

 

 

219

(0.3%)

-            2. Other accruals

57

 

32

 

222

( 0.2%)

 

 

-                   - short-term

57

 

32

 

222

 

 

 

-D. Total liabilities

150 517

(100%)

124 659

(100%)

93 704

(100%)

80 411

(100%)

 

Source of financial data

Court

Court

Court

Court

Statement

annual

annual

annual

annual

individual PROFIT AND LOSS ACCOUNT

(ths.PLN)

01.01.2012­31.12.2012

 

01.01.2011­31.12.2011

 

01.01.2010­31.12.2010

 

01.01.2009­31.12.2009

-A. Income from sales and similar

370 671

(+9%)

338 790

(+29%)

263 598

(+69%)

155 558

-      - including related companies

2 193

 

 

 

 

 

 

-      I.    Net revenue form sale of products

66 854

(+68%)

39 784

(+92%)

20 682

(+465%)

3 660

-      II. Net revenue from sale of goods

303 817

(+2%)

299 006

(+23%)

242 916

(+60%)

151 899

-B.Cost of products, goods sold

314 871

(+8%)

290 957

(+29%)

226 171

(+71%)

132 406

-      - including related companies

2 108

 

 

 

 

 

 

-      I.  Cost of production of products sold

53 526

(+62%)

33 081

(+309%)

8 095

(+26%)

6 428

-      II.  Value of products sold

261 345

(+1 %)

257 877

(+1 8%)

218076

(+73%)

125 977

-C. Gross profit on sale

55 800

(+17%)

47 833

(+28%)

37 426

(+62%)

23 153

-D. Costs of sale

34 232

(+8%)

31 668

(+14%)

27 807

(+16%)

23 894

-E. General management costs

4 316

(+12%)

3 846

(+16%)

3 315

(+3%)

3 209

-F. Profit on sale

17 252

(+40%)

12 319

(+95%)

6 304

 

 

-F. Loss on sale

 

 

 

 

 

 

3 950

-G. Other operating incomes

1 899

(-43%)

3 333

(+142%)

1 378

(+28%)

1 078

-      I.    Incomes from disposal of fixed assets

357

(-42%)

616

(+1660%)

35

 

 

-      III. Other operating incomes

1 542

(-43%)

2 717

(+102%)

1 344

(+25%)

1 078

-H. Other operating costs

6 298

(+104%)

3 082

(+72%)

1 793

(+103%)

885

-      I.    Loss on dsiposal of

non--financial fixed assets

 

 

 

 

 

 

4

-      III. Other operating costs

6 298

(+104%)

3 082

(+72%)

1 793

(+103%)

882

-I. Profit on operating activities

12 854

(+2%)

12 571

(+113%)

5 890

 

 

-I. Loss on operating activities

 

 

 

 

 

 

3 757

-J. Financial incomes

2 370

(-5%)

2 484

(+202%)

823

(-58%)

1 940

-      II.  Interest received

130

(+41 %)

92

(-56%)

209

(-72%)

747

-            - including related companies

10

 

 

 

 

 

 

-      V. Other

2 240

(-6%)

2 392

(+290%)

614

(-49%)

1 193

-K. Financial costs

3 170

(-68%)

10 032

(+398%)

2 014

(+47%)

1 371

-      I. Interest

1 734

(+15%)

1 514

(+503%)

251

(+210%)

81

-      IV. Other

1 436

(-83%)

8 518

(+383%)

1 763

(+37%)

1 290

-L. Gross profit on economic activity

12 054

(+140%)

5 023

(+7%)

4 699

 

 

-L. Gross on economic activity

 

 

 

 

 

 

3 189

-N. Gross profit

12 054

(+140%)

5 023

(+7%)

4 699

 

 

-N. Gross loss

 

 

 

 

 

 

3 189

-O. Corporation tax

2 523

(-344%)

-1 035

(-198%)

1 055

(-320%)

-479

-      a) current part

2 038

 

 

 

741

 

 

-      b) deferred part

485

 

 

 

314

 

 

-R. Net profit

9 531

(+57%)

6 058

(+66%)

3 643

 

 

 

 

AUDITOR

 

Balance sheet as at 31.12.2010

MOORE STEPHENS TRZEMZALSKI, KRYNICKI I PARTNERZY KANCELARIA BIEGLYCH REWIDENTOW Sp. z o.o., ul. Franciszka Rogaczewskiego 9/19, 80-804 Gdansk

No. 372

 

 

Expert auditor   Maciej Trzemzalski

No. 11023/7941


 

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.