|
Report Date : |
17.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
MODERNE MECANIQUE SAS |
|
|
|
|
Registered Office : |
13 Avenue De La Trentaine Chelles, 77500 |
|
|
|
|
Country : |
France |
|
|
|
|
Financials (as on) : |
30.09.2012 |
|
|
|
|
Date of Incorporation : |
15.03.1998 |
|
|
|
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Com. Reg. No.: |
418647350 |
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|
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Legal Form : |
Private Independent |
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|
|
|
Line of Business : |
Manufacture of other special purpose machinery not elsewhere classified |
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|
|
|
No. of Employees : |
Not Available |
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) |
|
France |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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
Moderne Mecanique
Sas
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Business
Description
|
Moderne Mecanique Sas is primarily engaged in manufacture of machinery
for working soft rubber or plastics or for the manufacture of products of
these materials (extruders, moulders, pneumatic tyre making or retreading machines
and other machines for making a specific rubber or plastic product);
manufacture of printing and bookbinding machines; manufacture of machinery
for producing tiles, bricks, shaped ceramic pastes, pipes, graphite
electrodes, blackboard chalk, foundry moulds, etc.; manufacture of moulding
boxes for any material; mould bases; moulding patterns; moulds; manufacture
of dryers for wood, paper pulp, paper or paperboard; manufacture of
centrifugal clothes dryers; manufacture of diverse special machinery and
equipment (machines to assemble electric or electronic lamps, tubes (valves)
or bulbs; machines for production or hot-working of glass or glassware, glass
fibre or yarn; machinery or apparatus for isotopic separation; rope-making
machinery, etc.); and manufacture of industrial robots for multiple uses. |
Industry
|
Industry |
|
|
ANZSIC 2006: |
2499 - Other Machinery and Equipment Manufacturing
Not Elsewhere Classified |
|
NACE 2002: |
2956 - Manufacture of other special purpose
machinery not elsewhere classified |
|
NAICS 2002: |
|
|
UK SIC 2003: |
2956 - Manufacture of other special purpose
machinery not elsewhere classified |
|
UK SIC 2007: |
2899 - Manufacture of other special-purpose
machinery n.e.c. |
|
US SIC 1987: |
Key Executives
|
1 - Profit &
Loss Item Exchange Rate: USD 1 = EUR 0.7705342
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7719989
|
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Executives
Report
|
|
|
30-Sep-2012 |
30-Sep-2011 |
30-Sep-2010 |
|
Period Length |
12 Months |
12 Months |
12 Months |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate
(Period Average) |
0.770534 |
0.717768 |
0.740255 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Total income |
12.5 |
8.4 |
7.7 |
|
Net sales |
13.0 |
7.6 |
7.6 |
|
Change in stock |
0.0 |
-0.6 |
-0.2 |
|
Unfinished work in progress |
-0.6 |
0.7 |
0.0 |
|
Subsidies for operating costs |
0.0 |
0.0 |
0.0 |
|
Supplementary operating income |
0.0 |
0.1 |
0.0 |
|
Other operating income |
0.0 |
0.0 |
0.0 |
|
Other external charges |
3.6 |
2.5 |
2.2 |
|
Cost of goods sold |
3.9 |
3.1 |
2.4 |
|
Taxes and social security costs |
0.2 |
0.2 |
0.2 |
|
Social charges |
1.1 |
0.9 |
0.9 |
|
Total payroll costs |
2.3 |
2.0 |
1.9 |
|
Cost of stock depreciation and amortisation |
0.1 |
0.0 |
0.1 |
|
Fixed asset depreciation and amortisation |
0.1 |
0.1 |
0.1 |
|
Other operating costs |
0.0 |
0.0 |
0.0 |
|
Total operating costs |
11.3 |
8.4 |
7.6 |
|
Net operating income |
1.2 |
0.1 |
0.1 |
|
Total financial income |
0.0 |
0.0 |
0.0 |
|
Interest payable on loans |
0.0 |
0.0 |
0.0 |
|
Other expenses |
0.0 |
0.0 |
0.0 |
|
Total expenses |
0.0 |
0.0 |
0.0 |
|
Profit before tax |
1.2 |
0.1 |
0.2 |
|
Extraordinary income |
0.0 |
0.0 |
0.0 |
|
Extraordinary expenses |
0.1 |
0.0 |
0.0 |
|
Extraordinary result |
-0.1 |
0.0 |
0.0 |
|
Total taxation |
0.4 |
0.0 |
0.0 |
|
Net profit |
0.8 |
0.1 |
0.1 |
|
|
|
Annual Balance
Sheet |
|
Financials in:
USD (mil) |
|
|
|
|
|
30-Sep-2012 |
30-Sep-2011 |
30-Sep-2010 |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.771999 |
0.745323 |
0.732493 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Issued capital |
1.9 |
2.0 |
2.0 |
|
Legal reserves |
- |
- |
0.0 |
|
Total reserves |
0.4 |
0.4 |
0.4 |
|
Profits for the year |
0.8 |
0.1 |
0.1 |
|
Profit brought forward from previous year(s) |
0.5 |
0.4 |
0.3 |
|
Total stockholders equity |
3.6 |
2.9 |
2.9 |
|
Provisions and allowances |
0.2 |
0.1 |
0.2 |
|
Trade creditors |
2.2 |
1.8 |
1.4 |
|
Advances received |
0.4 |
0.4 |
0.3 |
|
Bank loans and overdrafts |
0.4 |
0.4 |
0.6 |
|
Current bank debts |
- |
- |
0.0 |
|
Other liabilities |
0.1 |
0.1 |
0.1 |
|
Debts on fixed assets |
0.0 |
- |
- |
|
Income stated in advance |
0.3 |
0.2 |
0.1 |
|
Taxation and social security |
1.7 |
1.1 |
1.1 |
|
Total current liabilities |
4.2 |
3.3 |
2.8 |
|
Total debts |
5.0 |
4.1 |
3.6 |
|
Total liabilities (including net worth) |
8.8 |
7.1 |
6.7 |
|
Other intangibles |
- |
0.0 |
0.0 |
|
Land |
0.1 |
0.1 |
0.1 |
|
Buildings |
0.5 |
0.6 |
0.6 |
|
Other fixed assets |
0.1 |
0.1 |
0.1 |
|
Other financial assets |
0.0 |
0.0 |
0.0 |
|
Total non-current assets |
0.7 |
0.7 |
0.8 |
|
Prepayments |
0.0 |
- |
- |
|
Net stocks and work in progress |
2.7 |
3.3 |
2.1 |
|
Trade debtors |
2.2 |
1.1 |
2.1 |
|
Other receivables |
2.9 |
1.7 |
1.5 |
|
Prepaid expenses |
0.0 |
0.1 |
0.0 |
|
Cash and liquid assets |
0.2 |
0.1 |
0.1 |
|
Marketable securities |
0.2 |
- |
0.1 |
|
Total current assets |
8.2 |
6.4 |
5.8 |
|
Total assets |
8.8 |
7.1 |
6.7 |
|
|
|
Annual Ratios |
|
Financials in:
USD (mil) |
|
|
|
|
|
30-Sep-2012 |
30-Sep-2011 |
30-Sep-2010 |
|
Period Length |
12 Months |
12 Months |
12 Months |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.771999 |
0.745323 |
0.732493 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Current ratio |
1.90 |
1.90 |
2.10 |
|
Quick ratio |
1.30 |
0.90 |
1.30 |
|
Total liabilities to net worth |
1.41% |
1.40% |
1.24% |
|
Net worth to total assets |
0.40% |
0.41% |
0.44% |
|
Collection period |
52.00 |
46.60 |
81.60 |
|
Stock turnover rate |
4.90 |
2.20 |
3.60 |
|
Asset turnover |
1.48% |
1.03% |
1.16% |
|
Profit margin |
0.09% |
0.01% |
0.02% |
|
Return on assets |
0.14% |
0.01% |
0.02% |
|
Shareholders' return |
0.34% |
0.03% |
0.05% |
|
Sales per employee |
1,496.61 |
919.01 |
1,000.22 |
|
Profit per employee |
140.08 |
10.31 |
20.39 |
|
Average wage per employee |
269.65 |
243.05 |
246.20 |
|
Net worth |
3.6 |
2.9 |
2.9 |
|
Number of employees |
44 |
39 |
37 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.39 |
|
|
1 |
Rs.89.89 |
|
Euro |
1 |
Rs.77.72 |
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.