MIRA
INFORM REPORT
|
Report Date : |
13.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
SARRALLE EQUIPOS SIDERURGICOS SL |
|
|
|
|
Registered Office : |
Calle Orendaundi Kalea (Landeta Auzoa), 7 20730 Azpeitia Gipuzkoa |
|
|
|
|
Country : |
Spain |
|
|
|
|
Financials (as on) : |
31.12.2003 |
|
|
|
|
Date of Incorporation : |
21.03.2002 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
|
|
|
|
|
No. of Employees : |
104 |
RATING & COMMENTS
|
MIRAs Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
Payment Behaviour : |
-- |
|
Litigation : |
-- |
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) |
|
Spain |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
SPAIN - ECONOMIC OVERVIEW
After almost 15 years of above average GDP growth, the
Spanish economy began to slow in late 2007 and entered into a recession in the
second quarter of 2008. GDP contracted by 3.7% in 2009, ending a 16-year growth
trend, and by another 0.3% in 2010; GDP expanded 0.4% in 2011, before
contracting 1.4% in 2012. The economy has once again fallen into recession as
deleveraging in the private sector, fiscal consolidation, and continued high
unemployment weigh on domestic demand and investment, even as exports have
shown signs of resiliency. The unemployment rate rose from a low of about 8% in
2007 to 26.0% in 2012. The economic downturn has also hurt Spain''s public
finances. The government budget deficit peaked at 11.2% of GDP in 2010 and the
process to reduce this imbalance has been slow despite the central
government''s efforts to raise new tax revenue and cut spending. Spain reduced
its budget deficit to 9.4% of GDP in 2011, and roughly 7.4% of GDP in 2012,
above the 6.3% target negotiated between Spain and the EU. Although Spain''s
large budget deficit and poor economic growth prospects remain a source of
concern for foreign investors, the government''s ongoing efforts to cut
spending and introduce flexibility into the labor markets are intended to
assuage these concerns. The government is also taking steps to shore up the
banking system, namely by using up to $130 billion in EU funds to recapitalize
struggling banks exposed to the collapsed domestic construction and real estate
sectors.
Source
: CIA
Company name
SARRALLE EQUIPOS SIDERURGICOS SL
CIF/NIF: B20768149
Company situation: Active
EXECUTIVE SUMMARY
Identification
Current Business Name: SARRALLE EQUIPOS SIDERURGICOS SL
Other names: NO
Current Address: CALLE ORENDAUNDI KALEA (LANDETA
AUZOA), 7
Telephone number: 943157088 Fax: 943157290
URL: www.sarralle.com
Corporate e-mail: sarralle@sarralle.com
Trade Risk
Credit appraisal: 95.000,00
Incidents: YES
Financial Information
Latest sales known (2011): 42.735.729,00
(Own Sources)
Balance sheet latest sales (2003): 9.731.679,04 (Mercantile Register)
Result: 913.893,44
Total Assets: 10.138.997,79
Share capital: 377.530,00
Employees: 104
Listed on a Stock Exchange: NO
Commercial Information
Incorporation date: 21/03/2002
Activity: Mfg. of machinery for min. Quarrying
& construction
NACE 2009 CODE: 2891
International Operations: Imports and
Exports
Corporate Structure
Sole Administrator:
Parent Company:
SARRALLE
SERVICIOS GENERALES SL
Other Complementary Information
Latest filed accounts in the Mercantile Register: 2003
Latest act published in BORME: 18/01/2012 Appointments
Latest press article: 01/03/2013 EMPRESA
XXI (GENERAL INFORMATION)
Bank Entities: There are
TRADE RISK
Financial situation
|
Exercise:2003 |
|
|||
|
Profitability |
|
Good |
|
|
Performance
|
Incidents |
Exceptional |
|
Business
Trajectory |
Very Negative |
Rating Explanation
Company Structure
The companys capitalization degree determines that
its structure is sound.
The companys size is big depending on
its sales volume.
The employees evolution has been positive.
Performance and Incidences
The available information indicates that the
company does not have payment incidences.
He have detected no recent legal actions or claims
from the Administration against this company.
Accounts Filing
The company has had delays in the Accounts Filing
in the Mercantile Register.
Reasons of the last outstanding calculation in the note
|
DATE |
CHANGE |
RESULTING NOTE |
EVENT |
|
29/03/2013 |
Reduction |
8 |
New information has been loaded on our systems. |
|
30/11/2012 |
Equal |
9 |
There has been a change in the formula version. |
|
26/10/2012 |
Increase |
9 |
New information has been loaded on our systems. |
|
04/10/2012 |
Equal |
8 |
Variation in the rating system with regards to
legal incidences information. |
|
21/03/2012 |
Increase |
8 |
Variation in the rating system with regards to
legal incidences information. |
Summary
LEGAL ACTIONS: No legal actions registered
ADMINISTRATIVE CLAIMS: 1 ( Last:04/09/2009 )
|
|
|
|
|
With the Social Security: |
0 |
|
|
With the Tax Authorities: |
0 |
|
|
With Other Official bodies: |
1 |
|
AFFECTED BY: No significant element.
Latest Administrative Claims
figures expressed in
WITH OTHER OFFICIAL BODIES.
Seizures
|
DATE |
ORGANIZATION |
AMOUNT |
|
04/09/2009 |
DEPARTAMENTO DE ECONOMIA Y HACIENDA |
|
Detail of the Latest Administrative Claims
figures expressed in
Seizures
WITH OTHER OFFICIAL BODIES.
Phase: SEIZURE
Organization: UNDETERMINED AGENCY DEPARTAMENTO DE ECONOMIA Y
HACIENDA
Concept: Other debts
Date of the claim: 04/09/2009
Source: Published in the Gazette of PAIS VASCO, on 21/09/2009,
EXPERIAN BUREAU EMPRESARIAL BANK AND MULTI - SECTORIAL DEFAULTS OF
PAYMENT 
R.A.I.
COMPANY NOT REGISTERED IN THE R.A.I.
This company is not registered in the Disputed Bills register (R.A.I.)
DATE AND TIME OF THE CONSULTATION
10/06/2013 09:06:09
Information from the Registro de Aceptaciones Impagados (RAI)- Disputed
Bills register.
It can only be used for information legitimate needs of the consulting
party, in accordance with its social or business activity, in order to grant a
credit or the monitoring or control of the already granted credits and can not
be transmitted or communicated to thirds, nor copied, duplicated, reproduced
nor implemented to any database , owned or external, or reused it in anyway,
direct or indirectly.
FINANCIAL ELEMENTS AND SECTORIAL COMPARATIVE
FINANCIAL ELEMENTS
Figures given in
|
|
2007 (12) OWN SOURCES |
2008 (12) OWN SOURCES |
2011 (12) OWN SOURCES |
|
PROFIT AND LOSS ACCOUNT ANALYSIS |
|
||
|
SALES |
33.000.000,00 |
35.000.000,00 |
42.735.729,00 |
|
NET RESULT |
1.199.000,00 |
1.560.000,00 |
3.146.190,00 |
OTHER DATA FROM THE ANNUAL FINANCIAL REPORT
Results Distribution
Source: annual financial report 2003
Figures given in
|
DISTRIBUTION BASE |
APPLICATION A |
||
|
Profit and Loss |
913.893,44 |
Legal Reserve |
9.435,52 |
|
Carry over |
0,00 |
Voluntary Reserve |
904.457,92 |
|
Voluntary reserves |
0,00 |
Prior years losses |
0,00 |
|
Reserves |
0,00 |
Carry over |
0,00 |
|
Other concepts |
0,00 |
Other funds |
0,00 |
|
Total of Amounts to be distributed |
913.893,44 |
Dividends |
0,00 |
|
|
|
Other Applications |
0,00 |
Auditing
Source: filing of annual financial statement 2003
Auditors opinion: FAVOURABLE WITH RESERVATIONS
Auditor: COMAS AUDITORES-CONSULTORES S.L.
Auditing exceptions:
THE COMPANY PRESENTS COMPARATIVE TABLE
OF FINANCE ESTABLISHED
BECAUSE DURING THE
PREVIOUS YEAR.
ADDRESSES
Current Legal Seat Address:
CALLE ORENDAUNDI KALEA (LANDETA AUZOA), 7
20730 AZPEITIA
GIPUZKOA
Characteristics of the current address
Type of establishment: factory
Local Situation: secondary
CORPORATE STRUCTURE
ADMINISTRATIVE LINKS
Governing body : 1 member (latest change:
09/01/2012)
Other Positions : 3 (latest change: 31/05/2007)
Auditor : 1 (latest change: 24/10/2006)
Operative Board Members : 7 (latest change: 12/06/2008)
Non-current positions : 2 (latest change: 09/01/2012)
Main Board members, Directors and Auditor
Governing body
|
POSITION |
NAME AND SURNAME |
DATE APPOINTMENT |
|
SOLE ADMINISTRATOR |
SARRALLE SL |
09/01/2012 |
|
|
|
|
Auditor
|
POSITION |
NAME AND SURNAME |
DATE APPOINTMENT |
|
AUDITOR |
KPMG AUDITORES SL |
24/10/2006 |
|
POSITION |
NAME AND SURNAME |
|
General Manager |
GONZALEZ GIL, ELIAS |
|
Financial Manager |
ALZUARAN, ZORION |
|
Human Resources Director |
JUARISTI, INIGO |
|
Production Director |
IRIARTE MIGUEL, ANGEL |
|
Commercial Director |
IRIARTE LAZCANO, MIGUEL ANGEL |
|
Purchases Director |
IRIARTE, IOSU |
|
Quality Director |
SANTAMARTA, VIRGINIA |
FINANCIAL LINKS
|
|
BUSINESS NAME |
TAX NUMBER/COUNTRY |
% |
SOURCE |
DATE REP. |
|
|
SARRALLE SERVICIOS GENERALES SL |
B20752366 |
100,00 |
OWN SOURCES |
03/06/2013 |
Majority shareholder of SARRALLE SERVICIOS GENERALES SL
|
|
BUSINESS NAME |
TAX NUMBER/COUNTRY |
% |
SOURCE |
DATE REP. |
|
|
SARRALLE SL |
B20049946 |
100,00 |
OWN SOURCES |
18/10/2006 |
|
|
BUSINESS NAME |
TAX NUMBER/COUNTRY |
% |
SOURCE |
DATE REP. |
|
|
SARRALLE SL |
B20049946 |
100,00 |
OWN SOURCES |
26/10/2012 |
Company with rating inferior to 7
BUSINESS INFORMATION
Incorporation date: 21/03/2002
Establishment date: 01/01/1960
Founders Name: the owner comes from partial
cleavage of society "Sarralle, SA"
Code: 1325300
Activity: Mfg. of machinery for min. Quarrying &
construction
NACE 2009 CODE: 2891
NACE 2009 Activity: Manufacture of machinery for metallurgy
Business: MANUFACTURING,
CONSTRUCTION, PRODUCING, DISTRIBUTION, MARKETING
AND IRON AND STEEL MOUNTING
EQUIPMENT, MACHINERY IN GENERAL AND
BOILER.
Latest employees figure: 104 (2013)
% of fixed employees: 94,00%
% of temporary employees: 6,00%
Employees evolution
|
|
|
|
PURCHASES
Import Percentage: 10%
Imports from: ALEMANIA, UNION EUROPEA
SALES
Credit collections: 100%
Export Percentage: 10%
Exports to: INDIA
National Distribution: 90%
SUPPLIERS
|
BUSINESS NAME |
INTERNATIONAL |
|
ACERIA COMPACTA
BIZKAIA |
NO |
|
SIDENOR |
NO |
CLIENTS
|
BUSINESS NAME |
INTERNATIONAL |
|
ARCELOR MITTAL |
NO |
|
SIDENOR |
NO |
|
ACERIA COMPACTA
BIZKAIA |
NO |
|
ENTITY |
BRANCH |
ADDRESS |
TOWN OR CITY |
PROVINCE |
|
BANKINTER, S.A. |
9433 |
PORTUETXE KALEA, 53 B 2. N. 213 |
DONOSTIA-SAN SEBASTIAN |
Gipuzkoa |
|
CAIXABANK, S.A. |
8603 |
C. CHURRUCA, 14 PLANTA 1 |
DONOSTIA-SAN SEBASTIAN |
Gipuzkoa |
|
BANCO BILBAO VIZCAYA ARGENTARIA, S.A. |
5466 |
ERREBAL, 7 |
EIBAR |
Gipuzkoa |
|
BANCO SANTANDER, S.A. |
4613 |
CL ARANA 19 APDO. 00000 |
AZPEITIA |
Gipuzkoa |
|
KUTXABANK, S.A |
|
|
AZPEITIA |
|
LEGAL STRUCTURE
Constitution Data
Register Date: 21/03/2002
Register town: Gipuzkoa
Announcement number: 174348
Share capital: 175.800
Legal form: Limited Liability Company
Share capital: 377.530,00
Obligation to fill in Financial Statements: YES
Chamber census: YES (2011)
B.O.R.M.E. (OFFICIAL GAZETTE OF THE MERCANTILE REGISTER)
Acts on activity: 0
Acts on administrators: 8 (Last: 18/01/2012, first:
22/04/2002)
Acts on capital: 1 (Last: 06/02/2003)
Acts on creation: 1 (Last: 22/04/2002)
Acts on filed accounts: 2 (Last: 14/11/2005, first:
18/11/2003)
Acts on identification: 0
Acts on Information: 1 (Last: 22/04/2002)
Latest acts in B.O.R.M.E.
Other acts
|
ACT |
DATE |
NOTICE NUM. |
MERCANTILE REGISTER |
|
Appointments |
18/01/2012 |
22809 |
Gipuzkoa |
|
Resignations |
18/01/2012 |
22809 |
Gipuzkoa |
|
Appointments |
31/05/2007 |
295456 |
Gipuzkoa |
|
Appointments |
31/05/2007 |
295455 |
Gipuzkoa |
|
Appointments |
24/10/2006 |
507945 |
Gipuzkoa |
|
Annual Filed Accounts (2003) |
14/11/2005 |
914049 |
Gipuzkoa |
|
Appointments |
26/10/2005 |
453129 |
Gipuzkoa |
|
Appointments |
12/04/2004 |
174114 |
Gipuzkoa |
|
Annual Filed Accounts (2002) |
18/11/2003 |
857456 |
Gipuzkoa |
|
Capital enlargement (IA) |
06/02/2003 |
49781 |
Gipuzkoa |
Press summary by type of information (last five years)
Legal notices: 0
Structural Data: 0
Informative data: 1 (Last: 01/03/2013)
Financial Information: 0
Negative information: 0
Business lines: 0
Historical press releases: 2 (Last: 01/05/2006, first:
16/05/2004)
Latest press article published
01/03/2013 EMPRESA XXI GENERAL INFORMATION
OLARRA STAINLESS STEEL (Aiosa) awarded DANOBAT Basque companies, STEEL SARRALLE and
TORCH CUTTING EQUIPMENT
TECHNOLOGIES the supply
of various equipment and the execution of works in the steel that is in the town of
Loiu. DANOBAT supply
four grinding machines. SARRALLE
held manufacturing and implementation of a set of electrode holder arms and
CUTTING TORCH provide
oxyfuel line for
horizontal continuous casting mill. The three projects
will involve a joint investment
of about 2.6 billion
euros.
01/05/2006 ESTRATEGIA EMPRESARIAL - GENERAL
INFORMATION
EQUIPMENT SARRALLE SIDERURGICOS, SARRALLE
GROUP COMPANY DEDICATED TO ENGINEERING, DEVELOPMENT AND MANUFACTURE OF
EQUIPMENT AND TURNKEY PROJECTS FOR THE STEEL
INDUSTRY, PRODUCTION HAS BEGUN ITS IMPLEMENTATION IN INDIA WITH A FIRST CONTRACT FOR
INSTALLATION OF CORRUGATED STEEL
PLANT FOR THE
FIRM Ramsarup. ORDER TO CARRY FORWARD AND
FUTURE PROJECTS, SARRALLE HAS FORMED A JOINT
VENTURE WITH A LOCAL INDUSTRIAL PARTNER AND HAS
BEGUN TO START
WITH AN INVESTMENT OF 3 MM. EUROS, PLANT PRODUCTION
TO 15 MILES OF
CALCUTTA. SARRALLE CONSIDERS THE STRUCTURE OF THE NEW CIA. 30 PEOPLE WILL BE ESTABLISHED,
BILL PREDICTING 12MM.
FOR 2008.
16/05/2004 ESTRATEGIA EMPRESARIAL - GENERAL
INFORMATION
SARRALLE INSTALLED EQUIPMENT TURNKEY
SIDERURGICOS BEFORE THE END OF THIS YEAR THREE
ELECTRIC ARC FURNACES IN MANY OTHER ACERIAS OF FRANCE,
ITALY AND POLAND. PROJECTS FOR WHICH
SET 9MM billed.
EUROS. CIA. COMPLETED
IN AUGUST THE INSTALLATION
AND COMMISSIONING OF AN ELECTRIC ARC FURNACE FOR
VALUE OF 3.5 MM. EUROS IN FRENCH
PRODUCER PLANT METAL
CREUSOT. FEATURES LIKE AN INSTALLATION
BE INSTALLED IN
ITALIAN SAN ZENO
ACERIA NEWCO, BY
WHICH billed 3.5 MM. ALSO WORKING ON
A THIRD BUILDING ELECTRIC
ARC FURNACE FOR SDAD, Huta Ostrowiec
POLISH, WITH A TURNOVER
OF 2 MM.
Complementary Information
Activity
Dedicated to the design,
construction and turnkey facilities for
steel mills.
FINANCIAL INFORMATION
The information on the last Individual Filed Accounts contained in this
report is extracted from the Mercantile Register file of the legal address of
the Company and dated 24/03/2006.
BALANCE SHEET
Assets
Figures given in
|
|
31/12/2002 (9) |
31/12/2003 (12) |
|
A) DUE FROM SHAREHOLDERS FOR UNCALLED CAPITAL |
|
|
|
B) FIXED ASSETS |
1.478.117,49 |
1.429.601,80 |
|
I. Incorporation costs |
|
|
|
II. Intangible fixed assets |
15.561,90 |
76.793,89 |
|
III. Tangible fixed assets |
1.462.555,59 |
1.352.807,91 |
|
IV. Financial fixed assets |
|
|
|
V. Own Shares |
|
|
|
VI. Long term trade liabilities |
|
|
|
C) DEFERRED EXPENSES |
|
|
|
D) CURRENT ASSETS |
4.140.555,01 |
8.709.395,99 |
|
I. Shareholders by required outlays |
|
|
|
II. Stocks |
935.994,15 |
4.573.449,66 |
|
III. Debtors |
3.054.685,55 |
4.039.630,39 |
|
IV. Temporary financial investment |
1.889,21 |
1.889,21 |
|
V. Short-term own shares |
|
|
|
VI. Treasury |
141.324,10 |
87.764,73 |
|
VII. Periodification adjustments |
6.662,00 |
6.662,00 |
|
TOTAL ASSETS (A + B + C + D) |
5.618.672,50 |
10.138.997,79 |
Liabilities
Figures given in
|
|
31/12/2002 (9) |
31/12/2003 (12) |
|
A) EQUITY |
1.257.860,68 |
2.171.754,12 |
|
I. Issued Capital |
377.530,00 |
377.530,00 |
|
II. Issue premium |
536.065,89 |
536.065,89 |
|
III. Revaluation reserve |
|
|
|
IV. Reserves |
35.160,00 |
344.264,79 |
|
Sundry reserves |
35.160,00 |
344.264,79 |
|
V. Results from previous years |
|
|
|
VI. Profit and Losses |
309.104,79 |
913.893,44 |
|
VII. Dividend paid during the year |
|
|
|
VIII. Own shares for capital reduction |
|
|
|
B) DEFERRED INCOME |
|
|
|
C) PROVISIONS FOR LIABILITIES AND EXPENSES |
|
|
|
D) LONG TERM LIABILITIES |
1.524.521,99 |
725.350,80 |
|
E) SHORT TERM LIABILITIES |
2.836.289,83 |
7.241.892,87 |
|
F) SHORT TERM PROVISIONS FOR LIABILITIES AND EXPENSES |
|
|
|
LIABILITIES (A + B + C + D + E + F) |
5.618.672,50 |
10.138.997,79 |
PROFIT AND LOSS
ACCOUNT
Items of the Profit and Loss Account
Figures given in
|
|
31/12/2002 (9) |
31/12/2003 (12) |
|
A) EXPENSES (A.1 a A.15) |
9.347.703,80 |
8.826.281,99 |
|
A.1. Operating costs |
3.523.935,01 |
2.902.938,62 |
|
A.2. Labour cost |
2.046.518,25 |
2.083.124,58 |
|
Wages |
1.567.805,45 |
1.608.309,10 |
|
Social security expenses |
478.712,80 |
474.815,48 |
|
A.3. Assets Amortization |
123.493,34 |
175.549,26 |
|
A.4. Variation in provision for current assets and bad debt losses |
|
|
|
A.5. Other operating costs |
2.713.534,59 |
2.604.886,74 |
|
A.I. OPERATING RESULT (B.1-A.1-A.2-A.3-A.4-A.5) |
1.090.352,61 |
1.965.179,84 |
|
A.6. Financial expenses and similar |
818.384,25 |
853.137,17 |
|
Debts with related companies |
|
642.714,27 |
|
Other companies debts |
818.384,25 |
210.422,90 |
|
A.7. Variation in financial investment provision |
|
|
|
A.8. Negative change difference |
|
|
|
A.II. POSITIVE FINANCIAL RESULTS (B.2+B.3-A.6-A.7-A.8) |
|
|
|
A.III. PROFIT FROM ORDINARY ACTIVITIES (A.I+A.II-B.I-B.II) |
272.000,83 |
1.112.044,28 |
|
A.9. Variation in provision in fixed assets |
|
|
|
A.10. Losses in fixed assets |
|
|
|
A.11. Losses from own shares and bonds |
|
|
|
A.12. Extraordinary charges |
10.562,85 |
214,56 |
|
A.13. Other exercises expenses and losses |
71.683,89 |
|
|
A.IV. POSITIVE EXTRAORDINARY RESULT
(B.4+B.5+B.6+B.7+B.8-A.9-A.10-A.11-A.12-A.13) |
76.695,58 |
8.280,22 |
|
A.V. PROFIT BEFORE TAXES (A.III+A.IV-B.III-B.IV) |
348.696,41 |
1.120.324,50 |
|
A.14. Corporate Taxes |
39.591,62 |
200.663,84 |
|
A.15. Other taxes |
|
5.767,22 |
|
A.VI. EXERCISE RESULT (PROFIT) (A.V-A.14-A.15) |
309.104,79 |
913.893,44 |
|
B) INCOMES (B.1 to B.8) |
9.656.808,59 |
9.740.175,43 |
|
B.1. Operating income |
9.497.833,80 |
9.731.679,04 |
|
Net Turnover |
9.490.981,05 |
9.731.679,04 |
|
Other operating income |
6.852,75 |
|
|
B.I. OPERATING LOSSES (A.1+A.2+A.3+A.4+A.5-B.1) |
|
|
|
B.2. Financial Income |
32,47 |
1,61 |
|
Other |
32,47 |
1,61 |
|
B.3. Positive change difference |
|
|
|
B.II. NEGATIVE FINANCIAL RESULTS (A.6+A.7+A.8-B.2-B.3) |
818.351,78 |
853.135,56 |
|
B.III. LOSSES FROM ORDINARY ACTIVITIES (B.I+B.II-A.I-A.II) |
|
|
|
B.4. B.9. Gains from disposal of fixed assets |
|
|
|
B.5. Gains from dealing in own shares |
|
|
|
B.6. Paid in surplus |
|
|
|
B.7. Extraordinary income |
165,66 |
8.494,78 |
|
B.8. Other years income and profits |
158.776,66 |
|
|
B.IV. NEGATIVE EXTRAORDINARY LOSSES
(A.9+A.10+A.11+A.12+A.13-B.4-B.5-B.6-B.7-B.8) |
|
|
|
B.V. LOSS BEFORE TAXES (B.III+B.IV-A.III-A.IV) |
|
|
|
B.VI. EXERCISE RESULTS (LOSS) (B.V+A.14+A.15) |
|
|
FINANCIAL BALANCE
Here the Main Capital Amounts of the company and the Revolving Fund
Evolution are analysed.
Financial Balance Table
Figures given in
|
|
31/12/2002 (9) |
% |
31/12/2003 (12) |
% |
|
A) DUE FROM SHAREHOLDERS FOR UNCALLED CAPITAL |
|
|
|
|
|
B) FIXED ASSETS |
1.478.117,49 |
26,31 |
1.429.601,80 |
14,10 |
|
C) DEFERRED EXPENSES |
|
|
|
|
|
D) CURRENT ASSETS |
4.140.555,01 |
73,69 |
8.709.395,99 |
85,90 |
|
TOTAL ASSETS (A + B + C + D) |
5.618.672,50 |
|
10.138.997,79 |
|
|
|
||||
|
A) EQUITY |
1.257.860,68 |
22,39 |
2.171.754,12 |
21,42 |
|
B) DEFERRED INCOME |
|
|
|
|
|
C) PROVISIONS FOR LIABILITIES AND EXPENSES |
|
|
|
|
|
D) LONG TERM LIABILITIES |
1.524.521,99 |
27,13 |
725.350,80 |
7,15 |
|
E) SHORT TERM LIABILITIES |
2.836.289,83 |
50,48 |
7.241.892,87 |
71,43 |
|
F) SHORT TERM PROVISIONS FOR LIABILITIES AND EXPENSES |
|
|
|
|
|
LIABILITIES (A + B + C + D + E + F) |
5.618.672,50 |
|
10.138.997,79 |
|
RATIOS
Main Ratios
|
|
31/12/2002 (9) |
31/12/2003 (12) |
|
BALANCE RATIOS |
||
|
Working Capital () |
1.304.265,18 |
1.467.503,12 |
|
Working capital ratio |
0,23 |
0,14 |
|
Working capital requirement () |
|
2.329.490,03 |
|
Soundness Ratio |
0,85 |
1,52 |
|
External Funds on Equity |
3,47 |
3,67 |
|
Average collection period (days) |
116 |
149 |
|
Average payment period (days) |
|
344 |
|
LIQUIDITY RATIOS |
||
|
Current ratio (%) |
145,98 |
120,26 |
|
Quick Ratio (%) |
5,05 |
1,24 |
|
Treasury () |
|
-861.986,91 |
|
Sales on current assets (days) |
825 |
402 |
|
DEBT RATIOS |
||
|
Borrowing Percentage (%) |
|
22,88 |
|
External Financing Average Cost |
|
0,37 |
|
Debt Service Coverage |
|
2,13 |
|
Interest Coverage |
1,33 |
2,30 |
|
GENERAL ACTIVITY RATIOS |
||
|
Auto financing generated by sales (%) |
4,56 |
11,20 |
|
Auto financing generated by Assets (%) |
7,70 |
10,74 |
|
Breakdown Point |
1,13 |
1,25 |
|
Average Sales Volume per Employee |
189.819,62 |
194.633,58 |
|
Average Cost per Employee |
40.930,36 |
41.662,49 |
|
Assets Turnover |
1,69 |
0,96 |
|
Inventory Turnover (days) |
96 |
567 |
|
Labour Productivity |
1,59 |
2,03 |
|
Cash flow () |
432.598,13 |
1.089.442,70 |
|
SOLVENCY RATIOS |
||
|
Payback Capacity |
0,10 |
0,14 |
|
Assets Guarantee |
1,29 |
1,27 |
|
Short Term Debts Proportion (%) |
65,04 |
90,90 |
Results Analysis Ratios
|
|
31/12/2002 (9) |
31/12/2003 (12) |
|
Return on Assets (ROA) (%) |
19,41 |
19,38 |
|
Return on Equity (ROE) (%) |
27,72 |
51,59 |
|
Operating Profitability (%) |
21,60 |
21,11 |
|
General Profitability (%) |
3,26 |
9,39 |
|
Equity gearing |
1,11 |
2,64 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.58.27 |
|
|
1 |
Rs.91.16 |
|
Euro |
1 |
Rs.77.50 |
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 SCs 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.