MIRA INFORM REPORT
|
Report Date : |
09.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
PALIN GRANIT OY |
|
|
|
|
Formerly Known As : |
Palin-Granit Oy |
|
|
|
|
Registered Office : |
Yliopistonkatu 26 B, 20100, TURKU |
|
|
|
|
Country : |
Finland |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
26.09.1975 |
|
|
|
|
Legal Form : |
Limited company |
|
|
|
|
Line of Business : |
Quarrying of ornamental and building stone |
|
|
|
|
No. of Employees : |
109 |
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 – March 31st 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Finland |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
finland ECONOMIC OVERVIEW
Finland has a highly industrialized, largely free-market economy with per capita output almost as high as that of Austria, Belgium, the Netherlands, and Sweden. Trade is important with exports accounting for over one third of GDP in recent years. Finland is strongly competitive in manufacturing - principally the wood, metals, engineering, telecommunications, and electronics industries. Finland excels in high-tech exports such as mobile phones. Except for timber and several minerals, Finland depends on imports of raw materials, energy, and some components for manufactured goods. Because of the climate, agricultural development is limited to maintaining self-sufficiency in basic products. Forestry, an important export earner, provides a secondary occupation for the rural population. Finland had been one of the best performing economies within the EU in recent years and its banks and financial markets avoided the worst of global financial crisis. However, the world slowdown hit exports and domestic demand hard in 2009, with Finland experiencing one of the deepest contractions in the euro zone. A recovery of exports, domestic trade, and household consumption stimulated economic growth in 2010-11. The recession affected general government finances and the debt ratio, turning previously strong budget surpluses into deficits, but Finland has taken action to ensure it will meet EU deficit targets by 2013 and retains its triple-A credit rating. Finland's main challenge in 2013 will be to stimulate growth in the face of weak demand in EU export markets and government austerity measures meant to reduce its budget deficit. Longer-term, Finland must address a rapidly aging population and decreasing productivity that threaten competitiveness, fiscal sustainability, and economic growth.
|
Source : CIA |
Company summary
|
Trading Name |
Palin Granit Oy |
Trade Registry Number |
235933 |
|
Company Name |
Palin Granit Oy |
Business ID |
01357108 |
|
Previous Name |
Palin-Granit Oy |
|
|
|
Telephone Number |
0207909300 |
Registered Address |
Yliopistonkatu 26 B, 20100, TURKU |
|
Fax Number |
0207909310 |
Visiting Address |
Yliopistonkatu 26 B, 20100, TURKU |
|
Home Municipality |
Turku |
Postal Address |
PL 55, 20101, TURKU |
|
Incorporation Date |
26.09.1975 |
Branches |
11 |
|
Company Type |
Limited company |
Website Address |
|
|
Primary Sic Code |
08111 |
Accountant |
Toivonen Minna Maria |
|
Primary Sic Description |
Quarrying of ornamental and building stone |
Last Accounts Date |
31.12.2011 |
|
Share Capital (€) |
23.472 |
Holding Company |
|
|
Deals in importing |
Yes |
Foreign Ownership |
|
|
Deals in exporting |
Yes |
Currency |
EUR |
Key Financials (€)
|
Year |
31.12.2012 |
% |
31.12.2011 |
|
31.12.2010 |
|
|
|
Number of weeks |
52 |
|
52 |
|
48 |
|
|
|
Turnover |
25.150.741 |
-22% |
32.139.771 |
|
25.322.437 |
|
|
|
Operating
Profit/Loss |
2.470.986 |
26% |
1.955.717 |
|
83.168 |
|
|
|
Profit/Loss
after Financial Items |
2.180.074 |
61% |
1.356.630 |
|
-297.705 |
|
|
|
Profit/Loss
after tax |
1.677.032 |
10% |
1.522.397 |
|
-297.705 |
|
|
|
Current Assets |
6.743.206 |
-14% |
7.853.343 |
|
7.842.084 |
|
|
|
Fixed Assets |
9.062.537 |
1% |
9.009.721 |
|
9.146.942 |
|
|
|
Long Term Debts |
6.234.423 |
-9% |
6.814.868 |
|
5.950.685 |
|
|
|
Current
Liabilities |
4.291.695 |
-25% |
5.717.126 |
|
8.081.735 |
|
|
|
Shareholders
Equity |
5.279.625 |
22% |
4.331.070 |
|
2.956.606 |
|
|
|
Balance sheet
total |
15.805.743 |
-6% |
16.863.064 |
|
16.989.026 |
|
|
|
Number of
employees |
109 |
|
158 |
|
157 |
|
|
|
Auditor
qualification |
The auditor has no reservations |
|
The auditor has no reservations |
|
The auditor has no reservations |
|
|
Ratios
|
Year |
31.12.2012 |
|
31.12.2011 |
|
31.12.2010 |
|
|
|
Solvency Ratio |
33% |
|
26% |
|
17% |
|
|
|
|
Moderate Indebtedness |
|
Moderate Indebtedness |
|
High Indebtedness |
|
|
|
Net margin (%) |
9% |
|
4% |
|
-1% |
|
|
|
Interest
Coverage Ratio (times) |
7 |
|
3 |
|
0 |
|
|
|
Gearing (%) |
141% |
|
198% |
|
340% |
|
|
|
Liquidity
Ratio/Acid Test |
1 |
|
1 |
|
0 |
|
|
|
Risk Buffer (%) |
13% |
|
7% |
|
-2% |
|
|
Shareholder Information
|
Year |
31.12.2012 |
|
|
Total Value of
Shares |
23.472 |
|
|
Number of Shares |
18.000 |
|
|
Value of Shares |
1.30 |
|
Registrations in Force
|
|
State |
Registration Date |
|
Tax Administration |
Registered |
15.03.1978 |
|
Trade Register |
Registered |
26.09.1975 |
|
Employer Register |
Registered |
01.08.1978 |
|
Prepayment Register |
Registered |
01.03.1995 |
|
Value Added Tax-Liability |
VAT-liable for business activity |
01.06.1994 |
Business History
|
Date |
Event |
Source Company Name |
|
01.07.2011 |
Merger |
Stoneset Oy
merged into Palin Granit Oy |
|
01.07.2011 |
Merger |
Sinocraft
Oy merged into Palin Granit Oy |
|
30.06.2011 |
Merger |
Stoneset Oy
merged into Palin Granit Oy |
|
30.06.2011 |
Merger |
Sinocraft
Oy merged into Palin Granit Oy |
|
01.01.2001 |
Merger |
Loimaan
Kivi Oy merged into Palin Granit Oy |
|
31.12.2000 |
Merger |
Loimaan
Kivi Oy merged into Palin Granit Oy |
|
31.12.1997 |
Merger |
01087128 merged into Palin Granit Oy |
|
18.09.1997 |
Merger |
06164727 merged into Palin Granit Oy |
Current Directors
|
Name |
Nettamo Kari Antero |
|
|
|
Date of Birth |
13.10.1950 |
Appointment Date |
15.06.2012 |
|
Nationality |
FINLAND |
Function |
Actual Member of Board |
|
Name |
Sairanen Pekka Juhani |
|
|
|
Date of Birth |
20.04.1957 |
Appointment Date |
15.06.2012 |
|
Nationality |
FINLAND |
Function |
Actual Member of Board |
|
Name |
Palin Heikki Tapani |
|
|
|
Date of Birth |
20.05.1959 |
Appointment Date |
12.06.1996 |
|
Nationality |
FINLAND |
Function |
Managing director |
|
Name |
Palin Maria Mikaela |
|
|
|
Date of Birth |
16.11.1985 |
Appointment Date |
15.06.2012 |
|
Nationality |
FINLAND |
Function |
Actual Member of Board |
|
Name |
Palin Heikki Tapani |
|
|
|
Date of Birth |
20.05.1959 |
Appointment Date |
15.06.2012 |
|
Nationality |
FINLAND |
Function |
Chairman of Board |
|
Name |
Palin Kira Aleksandra |
|
|
|
Date of Birth |
29.04.1989 |
Appointment Date |
15.06.2012 |
|
Nationality |
FINLAND |
Function |
Actual Member of Board |
|
Name |
Miettunen Matti Olavi |
|
|
|
Date of Birth |
23.07.1963 |
Appointment Date |
15.06.2012 |
|
Nationality |
FINLAND |
Function |
Actual Member of Board |
Other Company Officials
|
Name |
Lehto Ulla Elisabet |
|
|
|
Date of Birth |
09.08.1951 |
Appointment Date |
23.06.2004 |
|
Nationality |
FINLAND |
Function |
Procurist |
|
Name |
Ruusiala Terttu Anneli |
|
|
|
Date of Birth |
22.09.1966 |
Appointment Date |
23.06.2004 |
|
Nationality |
FINLAND |
Function |
Procurist |
Profit & Loss (€)
|
|
Operating Income |
31.12.2012 |
% |
31.12.2011 |
|
31.12.2010 |
|
|
|
|
Number of weeks |
52 |
|
52 |
|
48 |
|
|
|
|
Consolidated
Accounts |
no |
|
no |
|
no |
|
|
|
|
Sales Revenue |
25.150.741 |
-22% |
32.139.771 |
|
25.322.437 |
|
|
|
|
Other Operating
Income |
1.306.235 |
137% |
550.304 |
|
77.454 |
|
|
|
|
Total Operating
Income |
26.456.976 |
-19% |
32.690.075 |
|
25.399.891 |
|
|
|
|
Wages &
Salaries |
5.620.250 |
-30% |
7.984.458 |
|
6.950.209 |
|
|
|
|
Depreciation |
1.041.100 |
-15% |
1.229.163 |
|
1.007.504 |
|
|
|
|
Total Operating
Expenses |
23.985.990 |
-22% |
30.734.358 |
|
25.316.723 |
|
|
|
|
Operating
Profit/Loss |
2.470.986 |
26% |
1.955.717 |
|
83.168 |
|
|
|
|
Result From Financial Investments |
|||||||
|
|
Financial Income |
50.142 |
-19% |
61.938 |
|
110.943 |
|
|
|
|
Financial
Expenses |
341.054 |
-48% |
661.025 |
|
491.816 |
|
|
|
|
Total Financial
Investments |
-290.912 |
- |
-599.087 |
|
-380.873 |
|
|
|
|
Profit/Loss
after Financial Items |
2.180.074 |
61% |
1.356.630 |
|
-297.705 |
|
|
|
|
Extraordinary
Income |
0 |
- |
0 |
|
0 |
|
|
|
|
Extraordinary
Expenses |
0 |
- |
0 |
|
0 |
|
|
|
|
Profit/Loss
Before Tax |
2.180.074 |
61% |
1.356.630 |
|
-297.705 |
|
|
|
|
Tax |
503.042 |
- |
-165.767 |
|
0 |
|
|
|
|
Profit/Loss
After Tax |
1.677.032 |
10% |
1.522.397 |
|
-297.705 |
|
|
Balance Sheet (€)
|
|
Assets |
12.2012 |
% |
12.2011 |
|
12.2010 |
|
|
|
|
Number of weeks |
52 |
|
52 |
|
48 |
|
|
|
|
Consolidated
Accounts |
no |
|
no |
|
no |
|
|
|
|
Fixed Assets |
|||||||
|
|
Intangible Assets |
766.199 |
-16% |
911.609 |
|
221.616 |
|
|
|
|
Tangible Assets |
8.190.204 |
2% |
7.991.978 |
|
8.819.192 |
|
|
|
|
Other Fixed
Assets |
106.134 |
0% |
106.134 |
|
106.134 |
|
|
|
|
Total Fixed
Assets |
9.062.537 |
1% |
9.009.721 |
|
9.146.942 |
|
|
|
|
Current Assets |
|||||||
|
|
Inventories |
3.814.444 |
15% |
3.323.625 |
|
4.429.444 |
|
|
|
|
Trade
Receivables |
1.223.708 |
-55% |
2.728.379 |
|
2.136.922 |
|
|
|
|
Other
Receivables |
799.806 |
-21% |
1.017.703 |
|
711.016 |
|
|
|
|
Cash & Bank
Balances |
905.248 |
16% |
783.636 |
|
564.702 |
|
|
|
|
Other Current
Assets |
0 |
- |
0 |
|
0 |
|
|
|
|
Total Current
Assets |
6.743.206 |
-14% |
7.853.343 |
|
7.842.084 |
|
|
|
|
Total Assets |
15.805.743 |
-6% |
16.863.064 |
|
16.989.026 |
|
|
Equity and Liabilities (€)
|
|
EQUITY |
|||||||
|
|
Share Capital |
23.472 |
0% |
23.472 |
|
23.472 |
|
|
|
|
Share Premium
Reserve |
7.824 |
0% |
7.824 |
|
7.824 |
|
|
|
|
Retained
Earnings |
5.248.329 |
22% |
4.299.774 |
|
2.925.310 |
|
|
|
|
Other Reserves |
0 |
- |
0 |
|
0 |
|
|
|
|
Total Equity |
5.279.625 |
22% |
4.331.070 |
|
2.956.606 |
|
|
|
|
LONG TERM LIABILITIES |
|||||||
|
|
Long Term
Liabilities to Financial Institutions |
3.727.449 |
-19% |
4.617.184 |
|
3.996.927 |
|
|
|
|
Other Long Term
Liabilities Finance |
0 |
- |
0 |
|
0 |
|
|
|
|
Other Long Term
Liabilities |
2.506.974 |
14% |
2.197.684 |
|
1.953.758 |
|
|
|
|
Total Long Term
Debts |
6.234.423 |
-9% |
6.814.868 |
|
5.950.685 |
|
|
|
|
CURRENT LIABILITIES |
|||||||
|
|
Trade Payables |
1.200.176 |
-52% |
2.523.837 |
|
2.115.512 |
|
|
|
|
Liabilities to
Financial Institutions |
1.229.054 |
-31% |
1.781.747 |
|
4.089.767 |
|
|
|
|
Other Short Term
Financial Loans |
0 |
- |
0 |
|
0 |
|
|
|
|
Other Short Term
Liabilities |
1.862.465 |
32% |
1.411.542 |
|
1.876.456 |
|
|
|
|
Total Current
Liabilities |
4.291.695 |
-25% |
5.717.126 |
|
8.081.735 |
|
|
|
|
Total
Liabilities |
10.526.118 |
-16% |
12.531.994 |
|
14.032.420 |
|
|
|
|
Total Equity
& Liabilities |
15.805.743 |
-6% |
16.863.064 |
|
16.989.026 |
|
|
Other Financials (€)
|
|
Working Capital |
2.451.511 |
15% |
2.136.217 |
|
-239.651 |
|
|
|
|
Net Worth |
4.513.426 |
32% |
3.419.461 |
|
2.734.990 |
|
|
Key Ratios
|
|
|
31.12.2012 |
|
31.12.2011 |
|
31.12.2010 |
|
|
|
|
Number of weeks |
52 |
|
52 |
|
48 |
|
|
|
|
Consolidated
Accounts |
no |
|
no |
|
no |
|
|
|
|
PROFITABILITY |
|||||||
|
|
Net Margin % |
8,7% |
|
4,2% |
|
-1,2% |
|
|
|
|
Operating
Profit/Loss % |
9,8% |
|
6,1% |
|
0,3% |
|
|
|
|
Pre-Tax Profit
Margin % |
8,7% |
|
4,2% |
|
-1,2% |
|
|
|
|
TRADING PERFORMANCE |
|||||||
|
|
Return on Net
Assets Employed % |
41,3% |
|
31,3% |
|
-10,1% |
|
|
|
|
Return on Total
Capital % |
16,0% |
|
12,0% |
|
1,1% |
|
|
|
|
Interest Coverage
Ratio (times) |
7 |
|
3 |
|
0 |
|
|
|
|
Return on
Capital Employed % |
18,9% |
|
12,2% |
|
-3,3% |
|
|
|
|
Return on Total
Assets Employed % |
13,8% |
|
8,0% |
|
-1,8% |
|
|
|
|
Interest on Debt
% |
3,2% |
|
5,3% |
|
3,5% |
|
|
|
|
Risk Buffer % |
12,7% |
|
6,7% |
|
-2,4% |
|
|
|
|
SHORT TERM LIQUIDITY |
|||||||
|
|
Liquidity
Ratio/Acid Test |
1 |
|
1 |
|
0 |
|
|
|
|
Current Ratio % |
157,0% |
|
137,0% |
|
97,0% |
|
|
|
|
Debtor Days |
18 |
|
31 |
|
31 |
|
|
|
|
Working capital |
2.451.511 |
|
2.136.217 |
|
-239.651 |
|
|
|
|
LONG TERM LIQUIDITY |
|||||||
|
|
Equity Ratio % |
33,4% |
|
25,7% |
|
17,4% |
|
|
|
|
Gearing % |
141,4% |
|
198,5% |
|
339,6% |
|
|
|
|
Current Debt
Ratio |
1 |
|
1 |
|
3 |
|
|
|
|
Total Debt Ratio |
2 |
|
3 |
|
5 |
|
|
|
|
Relative debt % |
41,9% |
|
39,0% |
|
55,4% |
|
|
|
|
BUSINESS MEASURES |
|||||||
|
|
Change in
turnover % |
-21,7% |
|
- |
|
- |
|
|
|
|
Turnover/employees |
230741 |
|
203416 |
|
161289 |
|
|
|
|
Sales/Net
Working Capital |
10 |
|
15 |
|
-106 |
|
|
|
|
Stock Turnover
Ratio % |
15,2% |
|
10,3% |
|
17,5% |
|
|
|
|
Creditor Days |
17 |
|
29 |
|
30 |
|
|
|
|
Equity in
Percentage % |
35,4% |
|
27,3% |
|
17,8% |
|
|
Group structure
|
Company Name |
Registered
Number |
Latest Key
Financials |
Percentage Owned |
Turnover |
|
|
01357108 |
31.12.2011 |
- |
€32 140 000 |
|
|
06023764 |
- |
100% |
- |
|
|
15662357 |
- |
100% |
- |
Linked Companies
|
No linked companies |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.05 |
|
UK Pound |
1 |
Rs.90.89 |
|
Euro |
1 |
Rs.78.27 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.