|
Report Date : |
23.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
VALINTECE-TECELAGEM DE MALHAS LDA |
|
|
|
|
Registered Office : |
Zona Industrial
do Socorro, lote 87-Apartado 313 Fafe 4824-909-Fafe Fafe Braga |
|
|
|
|
Country : |
Portugal |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
08.06.1990 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Woven mesh |
|
|
|
|
No. of Employees : |
30 |
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 |
|
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
|
Portugal |
A2 |
A2 |
|
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 past two decades, successive governments have 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 had grown by more than the EU average for much of the 1990s, but fell back in 2001-08, and contracted 2.5% in 2009, before growing 1.3% in 2010. But GDP fell again in 2011, as the government implemented austerity measures, including a 5% public salary cut, a 2% increase in the value-added tax, and an extraordinary tax on yearend bonuses 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. A rigid labor market has been an obstacle to greater productivity and growth. Portugal also has been increasingly overshadowed by lower-cost producers in Central Europe and Asia as a destination for foreign direct investment. Portugal's low competitiveness, low growth prospects, and high levels of public debt have made it vulnerable to bond market turbulence. 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. Investors, however, continue to express concern about the government's ability to achieve future budget deficit targets and obtain foreign financing to cover its sovereign debt obligations when the EU-IMF financing program expires in 2013. Without the option for stimulus measures, the government is focusing instead on boosting exports and implementing labor market and other structural reforms to try to raise GDP growth and increase Portugal's competitiveness - which, over time, may help mitigate investor concerns.
Source
: CIA
|
|
|
|
|
|
All the amounts are express in Euros, otherwise you will be advised |
|
FRANCISCO
GONCALVES |
Managing-Partner
|
|
Registed on the
Register Record Office of Fafe with the Register Number 502381094 previous
number 617 in 09-07-1990 |
|
Constitution
celebrated in 08-06-1990 published on Diário da República number 229 of
03-10-1990 |
|
To oblige the
company it is necessary 1 signatures |
|
Changes to
Society |
|
In 30-12-2011 on
Portal MJ of 03-01-2012 board of director's change |
|
In 07-12-2011
on Portal MJ of 22-03-2012 change in to a private limited company |
|
In 06-12-2011
on Portal MJ of 11-01-2012 board of director's change |
|
In 22-09-2011 on
Portal MJ of 21-10-2011 board of director's change |
|
In 24-08-2011
on Portal MJ of 21-10-2011 board of director's change |
|
The Capital is
500.000,00 |
|
|
with the
following distribution |
|
VALINDO-TEXTEIS
SA |
223.375,00 |
44,675% |
|
VITOR MANUEL
FERNANDES PEREIRA |
195.000,00 |
39% |
|
JOSE OLIVERIO
SALGADO MACHADO |
50.000,00 |
10% |
|
FRANCISCO
GONCALVES |
31.625,00 |
6,325% |
|
|
|
|
Name |
VITOR MANUEL
FERNANDES PEREIRA |
|
Funtion |
Partner |
|
Address |
Rua 31 de Janeiro,
16 - 3ºDto. - Ap. 277 |
|
Locality |
Fafe |
|
Birth Date |
21/01/1950 |
|
Naturality |
Fafe |
|
Civil State |
Married |
|
Consort |
Irene Cunha
Alves Fernandes Pereira |
|
Previous
Connections |
Foi administrador
das firmas Valintece-Tecelagem de Malhas SA e Valindo-Acabamentos Têxteis SA |
|
Professional
Connections |
The subject has
connections with the following company (ies) |
|
|
PEREIRA.,VITOR
MANUEL FERNANDES as Individual Contractor . |
|
|
|
|
Name |
JOSE OLIVERIO
SALGADO MACHADO |
|
Funtion |
Partner |
|
Address |
Urbanização
Monte da Pena - Lote 22 |
|
Locality |
Fafe |
|
Civil State |
Married |
|
Consort |
Maria Fernanda
Cordeiro Lopes Machado |
|
|
|
|
Name |
FRANCISCO
GONCALVES |
|
Funtion |
Managing-Partner
|
|
Address |
Rua José
Ribeiro Vieira Castro, 8 |
|
Locality |
Fafe |
|
Birth Date |
05/06/1937 |
|
Naturality |
Fafe |
|
Civil State |
Married |
|
Consort |
Maria Manuela
Simões Azevedo Silva Gonçalves |
|
Previous
Connections |
Foi sócio das
firmas Fernandes & Gomes Lda,Sociedade Agricola Quinta Rilhadas Lda,foi
gerente das firmas T.T.T.Imbiliária SA, EVASÃO-DIVERSÕES E TURISMO LDA e
MORINGA-INDÚSTRIA DE BORDADOS Lda , e foi administrador da firma Naveprinter
SA. |
|
Professional
Connections |
The subject has
connections with the following company (ies) |
|
|
CLINICA
FISIATRICA MONTELONGO LDA as Manager . |
|
|
C.F.F.-CLINICA
FISIATRICA DE FAFE LDA as Manager . |
|
|
GIRONAPP-PRODUCAO
E COMERCIO LDA as Managing-Partner with a participation of 1.000,00 , in a
capital of 5.000,00 . |
|
|
DIAFAFE-CENTRO
DE DIAGNOSTICO E IMAGIOLOGIA SA as Board of Director's President . |
|
|
OPTILAR-TRANSACCOES
IMOBILIARIAS LDA as Manager . |
|
|
EXOTECH-BIO
SOLUTIONS PORTUGAL LDA as Managing-Partner with a participation of 100,00 ,
in a capital of 5.000,00 . |
|
|
VALINDO-ACABAMENTOS
TEXTEIS SA as Unique Administrator . |
|
|
DIASAUDE-UNIDADE
PRIVADA DE SAUDE LDA as Manager . |
|
|
RILHADAS-SOCIEDADE
COMERCIAL E AGRICOLA SA as Administrator . |
|
|
VALINDO-TEXTEIS
SA as Shareholder and Board of Director's Pres. with a participation of
510.000,00 , in a capital of 1.000.000,00 . |
|
|
|
|
NAME |
VALINDO-TEXTEIS
SA |
|
Funtion |
Partner |
|
Address |
Lugar da Azenha |
|
Locality |
Cepaes |
|
Telephone |
253490080 |
|
Fax |
253490089 |
|
E-Mail |
girandola@girandola.pt |
|
C.A.E. |
14131-Confecção
de outro vestuário exterior em série |
|
Line of
Business |
Percentage |
|
Woven mesh |
100% |
|
Type of Clients
|
Private
Companies |
|
|
|
Sales
Conditions |
Cash/credit |
|
|
|
Sales Area |
|
|
|
|
Country |
100% |
|
|
|
Trade Marks |
|
Girândola |
|
BANCO ESPIRITO
SANTO, SA |
Centro de
Empresas de Guimarães |
|
MILLENNIUM BCP |
Guimarães |
|
BANIF - BANCO
INTERNACIONAL DO FUNCHAL, SA |
Guimarães |
|
There are no of
incidents on our database |
|
Total |
30 |
|
Head office and
installations Zona Industrial do Socorro - Lote 87 - Apartado 313, Fafe,
4824-909, FAFE, Tel:253490550, Fax:253492331 |
|
The subject participates
on the following company(ies) |
|
|
|
|
|
NAME |
NEW
SEVEN-INDUSTRIA DE VESTUARIO LDA |
|
Address |
Avenida de
França, 256, Edifício Capitólio-2º Piso, Sala 6 |
|
Locality |
Porto |
|
C.A.E. |
14190- Manufacture
of other articles of clothing and clothing accessories |
|
Capital |
32.000,00 |
|
Participation |
50,781% |
|
Event |
General
Description |
|
Quality
Certification |
A titular é uma
empresa certificada pela norma ISO 9001:2000. |
|
Balance Sheet SNC |
||
|
CoinEURO |
|
Date31-12-2011 |
|
|
||
|
Closing Date |
31-12-2011 |
31-12-2010 |
31-12-2009 |
Variação (%) |
|
|
|
|||
|
ASSET |
|
|||
|
|
|
|
|
|
|
Non-current
assets |
|
|||
|
Tangible fixed
assets |
624.138,27 |
673.951,68 |
727.077,75 |
(7,39) |
|
Intangible
assets |
716,98 |
770,61 |
824,24 |
(6,96) |
|
Financial
participations - patrimonial equity method |
1.250,00 |
1.250,00 |
1.250,00 |
|
|
Other financial
assets |
60.000,00 |
60.000,00 |
60.000,00 |
|
|
Deferred tax
assets |
43.196,81 |
47.640,14 |
59.009,83 |
(9,33) |
|
Total |
729.302,06 |
783.612,43 |
848.161,82 |
(6,93) |
|
|
|
|
|
|
|
Current assets |
|
|
||
|
Inventories |
415.705,76 |
641.654,85 |
402.519,86 |
(35,21) |
|
Costumers |
1.912.170,14 |
1.416.955,93 |
1.288.242,33 |
34,95 |
|
State and other
public entities |
67.644,05 |
63.934,43 |
37.021,29 |
5,80 |
|
Other accounts
receivable |
63.881,42 |
68.260,74 |
77.993,74 |
(6,42) |
|
Deferrals |
5.273,74 |
3.793,02 |
11.074,25 |
39,04 |
|
Cashier and
bank deposits |
91.206,72 |
72.190,74 |
32.950,90 |
26,34 |
|
Total |
2.555.881,83 |
2.266.789,71 |
1.849.802,37 |
12,75 |
|
TOTAL ASSET |
3.285.183,89 |
3.050.402,14 |
2.697.964,19 |
7,70 |
|
|
|
|
|
|
|
SHAREHOLDERS
FUNDS AND LIABILITIES |
|
|
||
|
|
|
|
|
|
|
SHAREHOLDERS
FUNDS |
|
|
||
|
Capital |
500.000,00 |
500.000,00 |
500.000,00 |
|
|
Other
shareholders funds instruments |
122.229,53 |
177.229,53 |
82.229,53 |
(31,03) |
|
Legal reserves |
18.279,60 |
16.076,86 |
16.076,86 |
13,70 |
|
Other reserves |
101.647,41 |
101.647,41 |
101.647,41 |
|
|
Net retained |
(203.475,68) |
(245.327,78) |
(167.827,04) |
(17,06) |
|
Adjustments on
financial assets |
(16.250,00) |
(16.250,00) |
(16.250,00) |
|
|
Revaluation
surplus |
590,87 |
590,87 |
590,87 |
|
|
Other
shareholders funds changes |
64.286,42 |
67.901,50 |
71.516,62 |
(5,32) |
|
Total |
587.308,15 |
601.868,39 |
587.984,25 |
(2,42) |
|
Net income for the
period |
11.748,68 |
44.054,84 |
(66.131,05) |
(73,33) |
|
TOTAL OF
SHAREHOLDERS FUNDS |
599.056,83 |
645.923,23 |
521.853,20 |
(7,26) |
|
|
|
|
|
|
|
LIABILITY |
|
|
||
|
|
|
|
|
|
|
Non-current
liiabilities |
|
|
||
|
Financing
obtained |
775.820,25 |
1.158.940,58 |
1.036.901,64 |
(33,06) |
|
Total |
775.820,25 |
1.158.940,58 |
1.036.901,64 |
(33,06) |
|
|
|
|
|
|
|
Current
liabilities |
|
|
||
|
Suppliers |
959.996,57 |
1.070.366,94 |
954.070,57 |
(10,31) |
|
State and other
public entities |
20.367,75 |
18.048,57 |
18.847,19 |
12,85 |
|
Financing
obtained |
756.281,86 |
69.499,50 |
75.915,10 |
988,18 |
|
Other payable
accounts |
173.660,63 |
86.718,23 |
89.167,49 |
100,26 |
|
Deferrals |
|
905,09 |
1.209,00 |
|
|
Total |
1.910.306,81 |
1.245.538,33 |
1.139.209,35 |
53,37 |
|
TOTAL
LIABILITIES |
2.686.127,06 |
2.404.478,91 |
2.176.110,99 |
11,71 |
|
TOTAL
SHAREHOLDERS FUNDS AND LIABILITIES |
3.285.183,89 |
3.050.402,14 |
2.697.964,19 |
7,70 |
|
|
|
|
|
|
|
INCOME STATEMENT
|
|
|
||
|
|
|
|
|
|
|
INCOME AND
EXPENSES |
|
|
||
|
Sales and
services |
3.713.806,17 |
3.409.031,02 |
3.307.278,11 |
8,94 |
|
Variation in
production inventories |
25.294,91 |
27.409,83 |
(70.108,70) |
(7,72) |
|
Cost of goods sold
and materials consumed |
2.441.479,41 |
1.979.330,76 |
1.703.590,10 |
23,35 |
|
Suppliers and
external services |
746.783,35 |
848.618,53 |
1.002.475,86 |
(12,00) |
|
Personnel costs
|
357.224,35 |
365.881,64 |
398.150,87 |
(2,37) |
|
Impairment of receivables
(losses/revearsals) |
(4.729,37) |
9.331,16 |
25.999,76 |
(150,68) |
|
Other income
and gains |
62.500,50 |
46.223,20 |
116.553,21 |
35,21 |
|
Other expenses
and losses |
138.456,46 |
99.208,66 |
123.885,04 |
39,56 |
|
Result before depreciation,
financing costs and taxes |
122.387,38 |
180.293,30 |
99.620,99 |
(32,12) |
|
Expenses/reversals
of depreciation and amortization |
46.530,83 |
59.553,51 |
59.498,55 |
(21,87) |
|
Operating
result (before financing costs and taxes) |
75.856,55 |
120.739,79 |
40.122,44 |
(37,17) |
|
interest and
similar expenses incurred |
58.083,22 |
75.261,03 |
104.600,24 |
(22,82) |
|
Net before
taxes |
17.773,33 |
45.478,76 |
(64.477,80) |
(60,92) |
|
Income tax of
the period |
6.024,65 |
1.423,92 |
1.653,25 |
323,10 |
|
Net profit for
the period |
11.748,68 |
44.054,84 |
(66.131,05) |
(73,33) |
|
Closing Date |
31-12-2011 |
31-12-2010 |
31-12-2009 |
|
|
|
|
|||
|
TURNOVER RATIOS
|
|
|||
|
Shareholder's Funds
Profitability |
0,02 |
0,068 |
(0,127) |
|
|
Assets
Profitability |
0,023 |
0,04 |
0,015 |
|
|
Sales Net
Profitability |
0,003 |
0,013 |
(0,02) |
|
|
|
|
|
|
|
|
EFFICIENCY
RATIOS |
|
|
||
|
Medium Term
Receivable |
187,932 |
151,711 |
142,174 |
|
|
Asset Rotation |
1,13 |
1,118 |
1,226 |
|
|
|
|
|
|
|
|
PRODUCTIVITY
RATIOS |
|
|
||
|
Productivity |
3,562 |
3,908 |
4,028 |
|
|
|
|
|
|
|
|
SHORT TERM
RATIOS |
|
|
||
|
General
Liquidity |
1,338 |
1,82 |
1,624 |
|
|
Reduced Liquidity
|
1,12 |
1,305 |
1,27 |
|
|
Immediate
Liquidity |
0,048 |
0,058 |
0,029 |
|
|
|
|
|
|
|
|
MEDIUM LONG
TERM RATIOS |
|
|
||
|
Financial
Autonomy |
0,182 |
0,212 |
0,193 |
|
|
Solvability |
0,223 |
0,269 |
0,24 |
|
|
Borrowed Capital
Structure |
0,711 |
0,518 |
0,524 |
|
|
General Debt |
2,558 |
1,902 |
2,132 |
|
|
Medium Long
Term Debt |
1,295 |
1,794 |
1,987 |
|
|
Debt Structure |
0,711 |
0,518 |
0,524 |
|
|
Capital
Structure |
0,772 |
0,557 |
0,503 |
|
|
|
|
|
|
|
|
Operational and
Financial Risk |
|
|
||
|
Operational
Leverage Level |
16,773 |
11,841 |
39,97 |
|
|
Financial
Leverage Level |
4,268 |
2,655 |
(0,622) |
|
|
Combined
Leverage Level |
71,587 |
31,438 |
(24,861) |
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.43 |
|
|
1 |
Rs.83.20 |
|
Euro |
1 |
Rs.71.91 |
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.