|
Report Date : |
20.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
SIRPLASTE-SOCIEDADE INDUSTRIAL DE RECUPERADOS DE PLASTICO SA |
|
|
|
|
Registered Office : |
Zona Industrial da Patinha Sao Pedro 2480-Porto De Mos Leiria |
|
|
|
|
Country : |
Portugal |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
10.07.1974 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacture and
recycling of plastic |
|
|
|
|
No. of Employees : |
60 |
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) |
|
Portugal |
B1 |
B1 |
|
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 following two decades, successive governments
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 grew by more than the EU average for much of the 1990s, but the rate of
growth slowed in 2001-08. The economy contracted 2.5% in 2009, before growing
1.4% in 2010, but GDP fell again in 2011 and 2012, as the government began
implementing spending cuts and tax increases 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. Portugal also has been increasingly
overshadowed by lower-cost producers in Central Europe and Asia as a
destination for foreign direct investment, in part because its rigid labor
market hindered greater productivity and growth. However, the government of
Pedro PASSOS COELHO has enacted several measures to introduce more flexibility
into the labor market, and, this, along with steps to reduce high levels of
public debt, could make Portugal more attractive to foreign investors. 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.
The budget deficit worsened in 2012 as a sharp reduction in domestic
consumption took a bigger bite out of value-added tax revenues while rising unemployment
benefits increased expenditures more than anticipated. Poor growth prospects
over the next year have reinforced investors' concerns about the government's
ability to achieve its budget deficit targets and regain full access to bond
market financing when the EU-IMF financing program expires in 2013.
Source
: CIA
|
Name |
SIRPLASTE-SOCIEDADE INDUSTRIAL DE
RECUPERADOS DE PLASTICO SA |
|
V.A.T. Number / NIF |
500251363 |
|
Address |
Zona Industrial da Patinha |
|
Locality |
Sao Pedro |
|
Postal Code |
2480-PORTO DE MOS |
|
Municipality |
PORTO DE MOS |
|
District |
LEIRIA |
|
Telephone |
244870070 |
|
Fax |
244870071 |
|
E-Mail |
sirplaste@sirplaste.pt |
|
Web Site |
www.sirplaste.pt |
|
|
|
|
C.A.E.(Rev 3) |
38322- Valuation of non-metallic |
|
|
|
All the amounts
are express in Euros, otherwise you will be advised |
|
|
|
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Board of Director's |
|
|
ARTUR MANUEL PEREIRA |
Board of Director's President |
|
RICARDO JORGE MARTINS PEREIRA |
Board of Director's Member |
|
|
|
|
Fiscal Board |
|
|
LUIS FILIPE VICENTE PINTO |
Unique Fiscal |
|
LCA-LEAL,CARREIRA & ASSOCIADOS SROC |
Fiscal Board Substitute |
|
|
|
|
Chair of General Meeting |
|
|
LUIS ANTONIO GASPAR ESPERANCA |
Chair of General Meeting President |
|
VITOR MANUEL FERNANDES DE LIMA |
Chair of General Meeting Secretary |
|
Registed on the Register Record Office of
Porto de Mos with the Register Number 500251363 previous number 943 in
20-10-2009 |
|
Constitution celebrated in 10-07-1974
published on Diário da República number 229 of 01-10-1974 |
|
To oblige the company it is necessary 1
signatures |
|
Changes to Society |
|
In 22-11-2011 on Portal MJ of 29-11-2011
board of director's change Clique
para ver detalhes
|
|
|
In 21-09-2011 on Portal MJ of 23-09-2011
increase of capital Clique
para ver detalhes
|
|
|
In 13-06-2011 on Portal MJ of 12-07-2011 board
of director's change |
|
|
In 20-10-2009 on Portal MJ of 18-11-2009
head office change |
|
|
In 28-02-2008 on Portal MJ of 24-04-2008
board of director's change |
|
The Capital is 4.000.000,00 , divided in 800000
shares , with a nominal value of 5,00 |
|
|
Line of Business |
Percentage |
|
Manufacture and recycling of plastic |
100% |
|
Type of Clients |
Industries/Private Companies |
|
|
|
Sales Conditions |
Contract |
|
|
|
Sales Area |
|
|
|
|
Country |
50% |
Foreign |
50% |
|
Imports from |
ESPANHA |
|
|
|
Exports |
50% |
to |
ESPANHA |
|
BANCO ESPIRITO SANTO, SA |
Leiria |
|
BANCO BILBAO VIZCAYA ARGENTARIA
(PORTUGAL), SA |
Leiria |
|
There are no of incidents on our database |
|
Total |
60 |
|
|
|
|
Zurich Companhia de Seguros SA |
|
Apartado 21 E.C. -2481-901 Porto de Mós |
|
Head office and installations owned with
an area of 23.000 m2 Zona Industrial da Patinha, Sao Pedro, 2480, PORTO DE
MOS, Tel:244870070, Fax:244870071 |
|
Had head office Casal da Cortica, Apartado
327, Barreira, 2410-023, LEIRIA |
|
Event |
General Description |
|
Quality Certification |
A titular cumpre os requisitos das normas
NP EN ISO 9001:2008 e NP EN ISO 14001:2004 |
|
Balance Sheet SNC |
||
|
CoinEURO |
|
Date31-12-2011 |
|
|
||
|
Closing Date |
31-12-2011 |
31-12-2010 |
31-12-2009 |
Variaçăo (%) |
|
|
|
|||
|
ASSET |
|
|||
|
|
|
|
|
|
|
Non-current assets |
|
|||
|
Tangible fixed assets |
11.284.359,23 |
12.399.473,05 |
12.373.190,52 |
(8,99) |
|
Intangible assets |
665,96 |
20.433,36 |
30.291,34 |
(96,74) |
|
Financial participations - patrimonial
equity method |
9.404,51 |
9.489,51 |
9.780,48 |
(0,90) |
|
Financial participations - other methods |
2.244,59 |
2.244,59 |
2.244,59 |
|
|
Deferred tax assets |
364.287,75 |
458.809,24 |
331.966,24 |
(20,60) |
|
Total |
11.660.962,04 |
12.890.449,75 |
12.747.473,17 |
(9,54) |
|
|
|
|
|
|
|
Current assets |
|
|
||
|
Inventories |
1.218.715,69 |
567.632,41 |
833.343,32 |
114,70 |
|
Costumers |
3.129.916,24 |
3.130.748,95 |
1.494.426,48 |
(0,03) |
|
State and other public entities |
35.862,65 |
85.714,31 |
465.506,56 |
(58,16) |
|
Other accounts receivable |
216.451,02 |
130.005,92 |
47.893,88 |
66,49 |
|
Deferrals |
48.026,54 |
71.859,96 |
25.983,35 |
(33,17) |
|
Financial assets held for trading |
1.034.365,00 |
25.000,00 |
10.000,00 |
4.037,46 |
|
Cashier and bank deposits |
2.922.509,13 |
3.582.439,72 |
89.348,26 |
(18,42) |
|
Total |
8.605.846,27 |
7.593.401,27 |
2.966.501,85 |
13,33 |
|
TOTAL ASSET |
20.266.808,31 |
20.483.851,02 |
15.713.975,02 |
(1,06) |
|
|
|
|
|
|
|
SHAREHOLDERS FUNDS AND LIABILITIES |
|
|
||
|
|
|
|
|
|
|
SHAREHOLDERS FUNDS |
|
|
||
|
Capital |
4.000.000,00 |
1.000.000,00 |
1.000.000,00 |
300,00 |
|
Legal reserves |
200.000,00 |
200.000,00 |
200.000,00 |
|
|
Other reserves |
1.376.316,38 |
4.036.657,26 |
3.721.117,30 |
(65,90) |
|
Net retained |
(446.173,05) |
|
|
|
|
Other shareholders funds changes |
568.480,66 |
429.410,71 |
444.989,47 |
32,39 |
|
Total |
5.698.623,99 |
5.666.067,97 |
5.366.106,77 |
0,57 |
|
Net income for the period |
230.593,37 |
(427.645,34) |
415.539,96 |
(153,92) |
|
TOTAL OF SHAREHOLDERS FUNDS |
5.929.217,36 |
5.238.422,63 |
5.781.646,73 |
13,19 |
|
|
|
|
|
|
|
LIABILITY |
|
|
||
|
|
|
|
|
|
|
Non-current liiabilities |
|
|
||
|
Financing obtained |
11.570.485,32 |
13.672.433,94 |
8.109.185,63 |
(15,37) |
|
Other payable accounts |
|
354.549,91 |
|
|
|
Total |
11.570.485,32 |
14.026.983,85 |
8.109.185,63 |
(17,51) |
|
|
|
|
|
|
|
Current liabilities |
|
|
||
|
Suppliers |
826.356,44 |
770.043,98 |
358.830,82 |
7,31 |
|
State and other public entities |
138.757,71 |
59.659,82 |
134.893,32 |
132,58 |
|
Financing obtained |
1.469.396,59 |
388.740,74 |
66.668,13 |
277,99 |
|
Other payable accounts |
332.594,89 |
|
1.219.562,29 |
|
|
Deferrals |
|
|
43.188,10 |
|
|
Total |
2.767.105,63 |
1.218.444,54 |
1.823.142,66 |
127,10 |
|
TOTAL LIABILITIES |
14.337.590,95 |
15.245.428,39 |
9.932.328,29 |
(5,95) |
|
TOTAL SHAREHOLDERS FUNDS AND LIABILITIES |
20.266.808,31 |
20.483.851,02 |
15.713.975,02 |
(1,06) |
|
|
|
|
|
|
|
INCOME STATEMENT |
|
|
||
|
|
|
|
|
|
|
INCOME AND EXPENSES |
|
|
||
|
Sales and services |
9.618.184,40 |
7.210.264,92 |
4.183.800,54 |
33,40 |
|
Gains/losses allocated subsidiaries,
associates and joint ventures |
(85,00) |
(290,97) |
(219,52) |
(70,79) |
|
Variation in production inventories |
317.164,33 |
(553.928,06) |
315.478,59 |
(157,26) |
|
Work for the entity itself |
|
183.593,89 |
|
|
|
Cost of goods sold and materials consumed |
3.827.156,26 |
2.140.890,63 |
1.373.166,50 |
78,76 |
|
Suppliers and external services |
3.380.331,70 |
2.317.641,43 |
1.757.843,21 |
45,85 |
|
Personnel costs |
1.253.714,88 |
1.184.815,71 |
1.016.072,95 |
5,82 |
|
Impairment of receivables
(losses/revearsals) |
285.108,85 |
(112.788,27) |
63.740,35 |
(352,78) |
|
Other income and gains |
998.574,03 |
220.152,97 |
260.327,98 |
353,58 |
|
Other expenses and losses |
80.448,13 |
412.670,99 |
74.851,66 |
(80,51) |
|
Result before depreciation, financing
costs and taxes |
2.107.077,94 |
1.116.562,26 |
473.712,92 |
88,71 |
|
Expenses/reversals of depreciation and
amortization |
1.560.296,77 |
1.578.399,49 |
226.230,60 |
(1,15) |
|
Operating result (before financing costs
and taxes) |
546.781,17 |
(461.837,23) |
247.482,32 |
(218,39) |
|
interest and similar expenses incurred |
208.957,65 |
89.175,00 |
90.616,87 |
134,32 |
|
Net before taxes |
337.823,52 |
(551.012,23) |
156.865,45 |
(161,31) |
|
Income tax of the period |
107.230,15 |
(123.366,89) |
(258.674,51) |
(186,92) |
|
Net profit for the period |
230.593,37 |
(427.645,34) |
415.539,96 |
(153,92) |
|
Closing Date |
31-12-2011 |
31-12-2010 |
31-12-2009 |
|
|
|
|
|||
|
TURNOVER RATIOS |
|
|||
|
Shareholder's Funds Profitability |
0,039 |
(0,082) |
0,072 |
|
|
Assets Profitability |
0,027 |
(0,023) |
0,016 |
|
|
Sales Net Profitability |
0,024 |
(0,059) |
0,099 |
|
|
|
|
|
|
|
|
EFFICIENCY RATIOS |
|
|
||
|
Medium Term Receivable |
118,777 |
158,486 |
130,375 |
|
|
Asset Rotation |
0,475 |
0,352 |
0,266 |
|
|
|
|
|
|
|
|
PRODUCTIVITY RATIOS |
|
|
||
|
Productivity |
4,619 |
4,279 |
2,766 |
|
|
|
|
|
|
|
|
SHORT TERM RATIOS |
|
|
||
|
General Liquidity |
3,11 |
6,232 |
1,627 |
|
|
Reduced Liquidity |
2,67 |
5,766 |
1,17 |
|
|
Immediate Liquidity |
1,056 |
2,94 |
0,049 |
|
|
|
|
|
|
|
|
MEDIUM LONG TERM RATIOS |
|
|
||
|
Financial Autonomy |
0,293 |
0,256 |
0,368 |
|
|
Solvability |
0,414 |
0,344 |
0,582 |
|
|
Borrowed Capital Structure |
0,193 |
0,08 |
0,184 |
|
|
General Debt |
2,199 |
2,684 |
1,414 |
|
|
Medium Long Term Debt |
1,951 |
2,61 |
1,403 |
|
|
Debt Structure |
0,193 |
0,08 |
0,184 |
|
|
Capital Structure |
0,512 |
0,373 |
0,713 |
|
|
|
|
|
|
|
|
Operational and Financial Risk |
|
|
||
|
Operational Leverage Level |
10,591 |
(10,977) |
11,357 |
|
|
Financial Leverage Level |
1,619 |
0,838 |
1,578 |
|
|
Combined Leverage Level |
17,147 |
(9,199) |
17,921 |
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.79 |
|
|
1 |
Rs.91.03 |
|
Euro |
1 |
Rs.78.52 |
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.