MIRA
INFORM REPORT
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Report Date : |
03.07.2013 |
IDENTIFICATION DETAILS
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Name : |
TEDIS |
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Registered Office : |
8, Bis Rue Colbert Zac Des Montavas Wissous, 91320 |
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Country : |
France |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
15.12.1989 |
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Com. Reg. No.: |
353148463 |
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Legal Form : |
Public Independent |
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Line of Business : |
Wholesale of pharmaceutical goods |
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No. of Employees : |
22 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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) |
|
France |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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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 |
FRANCE - ECONOMIC OVERVIEW
The French economy is diversified across all sectors. The
government has partially or fully privatized many large companies, including Air
France, France Telecom, Renault, and Thales. However, the government maintains
a strong presence in some sectors, particularly power, public transport, and
defense industries. With at least 79 million foreign tourists per year, France
is the most visited country in the world and maintains the third largest income
in the world from tourism. France's leaders remain committed to a capitalism in
which they maintain social equity by means of laws, tax policies, and social
spending that reduce income disparity and the impact of free markets on public
health and welfare. France's real GDP contracted 2.6% in 2009, but recovered
somewhat in 2010 and 2011, before stagnating in 2012. The unemployment rate
increased from 7.4% in 2008 to 10.3% in 2012. Youth unemployment shot up to
24.2% during the third quarter of 2012 in metropolitan France.
Lower-than-expected growth and high unemployment costs have strained France's
public finances. The budget deficit rose sharply from 3.4% of GDP in 2008 to
7.5% of GDP in 2009 before improving to 4.5% of GDP in 2012, while France's
public debt rose from 68% of GDP to 89% over the same period. Under President
SARKOZY, Paris implemented some austerity measures to bring the budget deficit
under the 3% euro-zone ceiling by 2013 and to highlight France's commitment to
fiscal discipline at a time of intense financial market scrutiny of euro-zone
debt. Socialist Party candidate Francois HOLLANDE won the May 2012 presidential
election, after advocating pro-growth economic policies, the separation of
banks' traditional deposit taking and lending activities from more speculative
businesses, increasing the top corporate and personal tax rates, and hiring an
additional 60,000 teachers during his five-year term. The government's attempt
to introduce a 75% wealth tax on income over one million euros for two years
was struck down by the French Constitutional Council in December 2012 because
it applied to individuals rather than households. France ratified the EU fiscal
stability treaty in October 2012 and HOLLANDE's government has maintained
France's commitment to meeting the budget deficit target of 3% of GDP during
2013 even amid signs that economic growth will be lower than the government's
forecast of 0.8%. Despite stagnant growth and fiscal challenges, France's
borrowing costs declined during the second half of 2012 to euro-era lows.
Source
: CIA
Company name and address
Tedis
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Business
Description
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Tedis is primarily engaged in wholesale of pharmaceutical goods. This class
also includes: wholesale of instruments and devices for doctors and
hospitals; and wholesale of orthopaedic goods. |
Industry
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Industry |
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ANZSIC 2006: |
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NACE 2002: |
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NAICS 2002: |
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UK SIC 2003: |
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UK SIC 2007: |
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US SIC 1987: |
Key Executives
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1 - Profit & Loss
Item Exchange Rate: USD 1 = EUR 0.7191895
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.770327
Corporate Overview
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Executives
Report
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Annual
Profit & Loss
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
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Period Length |
12 Months |
12 Months |
12 Months |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate
(Period Average) |
0.71919 |
0.755078 |
0.719047 |
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Consolidated |
No |
No |
No |
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Total income |
45.4 |
37.1 |
30.5 |
|
Net sales |
45.2 |
36.6 |
30.4 |
|
Change in stock |
0.1 |
-0.1 |
-0.8 |
|
Subsidies for operating costs |
- |
- |
0.1 |
|
Supplementary operating income |
0.2 |
0.5 |
0.1 |
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Other operating income |
0.0 |
0.0 |
0.0 |
|
Other external charges |
6.5 |
5.1 |
4.1 |
|
Cost of goods sold |
29.6 |
24.5 |
21.6 |
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Taxes and social security costs |
0.4 |
0.3 |
0.3 |
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Social charges |
0.9 |
0.9 |
0.7 |
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Total payroll costs |
2.8 |
2.6 |
2.3 |
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Cost of stock depreciation and amortisation |
0.1 |
0.5 |
0.2 |
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Fixed asset depreciation and amortisation |
0.1 |
0.1 |
0.1 |
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Other operating costs |
0.2 |
0.2 |
0.0 |
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Total operating costs |
40.7 |
34.0 |
28.6 |
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Net operating income |
4.7 |
3.1 |
2.0 |
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Total financial income |
0.0 |
0.5 |
0.1 |
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Interest payable on loans |
0.1 |
0.2 |
0.2 |
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Other expenses |
0.0 |
0.4 |
0.1 |
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Total expenses |
0.1 |
0.5 |
0.2 |
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Profit before tax |
4.6 |
3.1 |
1.8 |
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Extraordinary income |
0.0 |
0.0 |
0.0 |
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Extraordinary expenses |
0.0 |
0.0 |
0.1 |
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Extraordinary result |
0.0 |
0.0 |
0.0 |
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Total taxation |
1.6 |
1.0 |
0.7 |
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Net profit |
3.1 |
2.1 |
1.1 |
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Annual Balance
Sheet |
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Financials in:
USD (mil) |
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.770327 |
0.745406 |
0.696986 |
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Consolidated |
No |
No |
No |
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Issued capital |
1.9 |
2.0 |
2.1 |
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Share premium account |
0.6 |
0.6 |
0.7 |
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Total reserves |
3.4 |
2.0 |
0.2 |
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Profits for the year |
2.9 |
2.1 |
1.1 |
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Profit brought forward from previous year(s) |
- |
0.2 |
1.2 |
|
Total stockholders equity |
8.8 |
6.9 |
5.4 |
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Provisions and allowances |
0.0 |
0.0 |
0.0 |
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Trade creditors |
9.3 |
7.6 |
9.1 |
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Advances received |
0.3 |
0.4 |
0.5 |
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Bank loans and overdrafts |
1.3 |
2.2 |
1.6 |
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Current bank debts |
0.3 |
0.7 |
0.4 |
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Other loans |
2.1 |
1.5 |
1.5 |
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Other liabilities |
2.6 |
3.3 |
3.2 |
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Debts on fixed assets |
0.1 |
- |
- |
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Income stated in advance |
- |
- |
0.0 |
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Taxation and social security |
1.1 |
1.2 |
1.0 |
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Total current liabilities |
15.6 |
14.6 |
15.6 |
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Total debts |
16.8 |
16.3 |
16.9 |
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Regularisation account |
0.0 |
0.0 |
0.0 |
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Total liabilities (including net worth) |
25.7 |
23.2 |
22.3 |
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Patents |
0.0 |
0.0 |
0.0 |
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Other intangibles |
0.0 |
- |
- |
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Buildings |
0.0 |
0.0 |
0.0 |
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Other fixed assets |
0.3 |
0.1 |
0.2 |
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Long-term investments |
0.4 |
0.1 |
0.1 |
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Other financial assets |
2.3 |
2.2 |
1.0 |
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Total non-current assets |
3.0 |
2.4 |
1.3 |
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Prepayments |
0.0 |
0.1 |
0.0 |
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Net stocks and work in progress |
2.0 |
2.1 |
2.1 |
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Trade debtors |
14.6 |
13.1 |
14.8 |
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Other receivables |
3.7 |
4.6 |
3.6 |
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Prepaid expenses |
0.1 |
0.1 |
0.1 |
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Cash and liquid assets |
2.2 |
0.8 |
0.3 |
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Marketable securities |
0.1 |
0.1 |
0.0 |
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Total current assets |
22.7 |
20.8 |
20.9 |
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Prepaid expenses and deferred costs |
0.0 |
0.0 |
0.0 |
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Total assets |
25.7 |
23.2 |
22.3 |
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Annual Ratios |
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Financials in:
USD (mil) |
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
|
Period Length |
12 Months |
12 Months |
12 Months |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.770327 |
0.745406 |
0.696986 |
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Consolidated |
No |
No |
No |
|
|
|
|
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Current ratio |
1.40 |
1.40 |
1.30 |
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Quick ratio |
1.30 |
1.30 |
1.20 |
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Total liabilities to net worth |
1.93% |
2.38% |
3.16% |
|
Net worth to total assets |
0.34% |
0.30% |
0.24% |
|
Collection period |
105.00 |
107.10 |
143.60 |
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Stock turnover rate |
21.10 |
17.30 |
15.20 |
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Asset turnover |
1.64% |
1.60% |
1.41% |
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Profit margin |
0.10% |
0.08% |
0.06% |
|
Return on assets |
0.17% |
0.14% |
0.08% |
|
Shareholders' return |
0.49% |
0.46% |
0.35% |
|
Sales per employee |
8,526.23 |
8,238.76 |
5,968.05 |
|
Profit per employee |
868.28 |
695.49 |
353.67 |
|
Average wage per employee |
528.58 |
593.28 |
461.33 |
|
Net worth |
8.8 |
6.9 |
5.4 |
|
Number of employees |
25 |
22 |
24 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.41 |
|
|
1 |
Rs.90.38 |
|
Euro |
1 |
Rs.77.61 |
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 |
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-- |
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.