|
Report Date : |
15.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
SANU BABU, SPOL. S R.O. |
|
|
|
|
Registered Office : |
V Kolkovně 3 110 00 Praha 1 |
|
|
|
|
Country : |
Czech Republic |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
06.06.1994 |
|
|
|
|
Com. Reg. No.: |
C 29558 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Wholesale and retail sale of clothing and accessories, jewellery,
ceramics, aromatic sticks, flat accessories, smoker´s articles, music
instruments. |
|
|
|
|
No. of Employees : |
25 |
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) |
|
Czech Republic |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
CZECH REPUBLIC - ECONOMIC OVERVIEW
The Czech Republic is a stable and prosperous market economy
closely integrated with the EU, especially since the country''s EU accession in
2004. While the conservative, inward-looking Czech financial system has
remained relatively healthy, the small, open, export-driven Czech economy
remains sensitive to changes in the economic performance of its main export
markets, especially Germany. When Western Europe and Germany fell into
recession in late 2008, demand for Czech goods plunged, leading to double digit
drops in industrial production and exports. As a result, real GDP fell 4.7% in
2009, with most of the decline occurring during the first quarter. Real GDP,
however, slowly recovered with positive quarter-on-quarter growth starting in
the second half of 2009 and continuing throughout 2011. In 2012, however, the
economy fell into a recession due to a slump in external demand. The auto
industry remains the largest single industry, and, together with its upstream
suppliers, accounts for nearly 24% of Czech manufacturing. The Czech Republic
produced more than a million cars for the first time in 2010, over 80% of which
were exported. Foreign and domestic businesses alike voice concerns about
corruption especially in public procurement. Other long term challenges include
dealing with a rapidly aging population, funding an unsustainable pension and
health care system, and diversifying away from manufacturing and toward a more
high-tech, services-based, knowledge economy.
Source
: CIA
SANU BABU, spol. s r.o.
V Kolkovně 3
110 00 Praha 1
telephone: 00420/ 220 870 616
telefax: 00420/ 220 870 623
e-mail: office@sanubabu.cz
Web: www.sanubabu.cz
|
Company development |
Positive company development |
|
|
Order situation |
Satisfactory order situation |
|
|
Terms of payment |
mostly no complaints, but occasional delays / reminders |
|
|
Business connection |
Business connections appear permissible |
|
|
|
||
|
Legal form |
Private limited company |
|
|
Foundation |
06/06/1994 - Private limited company |
|
Comp. Register |
06/06/1994, Městský soud v Praze, RegNr.:
C 29558 |
|
Share Capital |
06/06/1994 |
CZK |
102 000,- |
|
|
Shareholders |
Ing. Dana Bérová (25.04.1967) |
CZK |
51 000,- |
|
|
|
Ivan
Marusič (03.07.1963) |
CZK |
51 000,- |
|
|
|
Management |
Ivan
Marusič (03.07.1963) |
||||
|
General Data |
Wholesale and
retail sale of clothing and accessories, jewellery, ceramics, aromatic sticks,
flat accessories, smoker´s articles, music instruments. |
||
|
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Main activity: |
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|
|
|
Trade name(s) |
||
|
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Export: |
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Import: |
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General
contacts: |
||
|
|
Address: |
|
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Branches of the
business: |
|
|
- maloobchodní prodejna |
|
|
- maloobchodní prodejna |
|
|
- maloobchodní prodejna |
|
|
- maloobchodní prodejna |
|
|
- maloobchodní prodejna |
|
|
- maloobchodní prodejna |
|
|
- maloobchodní prodejna |
|
|
- maloobchodní prodejna |
|
|
- maloobchodní prodejna |
|
|
- maloobchodní prodejna |
|
|
- maloobchodní prodejna |
|
|
Office address: |
|
|
Warehouse of the
business: |
||
|
Staff |
2006 |
29 employees |
|
|
|
2008 |
28 employees |
|
|
2010 |
26 employees |
|
|
2012 |
25 employees |
|||||
|
Annual Sales |
2005 |
actual sales |
CZK |
23 493 000,-
|
|
||
|
|
2006 |
actual sales |
CZK |
24 724 000,-
|
|
|
|
2007 |
actual sales |
CZK |
27 757 000,-
|
|
|
|
2008 |
actual sales |
CZK |
28 822 000,-
|
|
|
|
2009 |
actual sales |
CZK |
22 989 000,-
|
|
|
|
2010 |
actual sales |
CZK |
21 551 000,-
|
|
|
|
2011 |
actual sales |
CZK |
24 679 000,-
|
|
|
|
The expected
economic data for the year 2012 is unavailable. |
|
Balance sheets |
The enclosed balance of 2011 from business
register, -. (31.12.2011 - 1 CZK) |
|
|
The enclosed profit/loss account of 2011
from business register, -. (31.12.2011 - 1 CZK) |
|
Remarks |
The final
accounts for the year 2012 are not available yet. |
|
|
Business management: |
|
|
Bankers |
Československá obchodní banka, a. s. |
(0300) |
|
|
balance |
31.12.2008 (CZK)
|
31.12.2009 (CZK)
|
31.12.2010 (CZK)
|
31.12.2011 (CZK)
|
|
r1 |
TOTAL ASSETS |
13 890 000 |
13 386 000 |
15 142 000 |
16 384 000 |
|
r2 |
Receivables for subscriptions |
0 |
0 |
0 |
0 |
|
r3 |
Fixed assets |
1 578 000 |
1 640 000 |
1 233 000 |
691 000 |
|
r4 |
Intangible fixed assets |
0 |
360 000 |
229 000 |
160 000 |
|
r13 |
Tangible fixed assets |
1 578 000 |
1 280 000 |
1 004 000 |
531 000 |
|
r23 |
Long-term financial assets |
0 |
0 |
0 |
0 |
|
r31 |
Current assets |
12 181 000 |
11 552 000 |
13 832 000 |
15 620 000 |
|
r32 |
Inventory |
9 675 000 |
9 680 000 |
12 048 000 |
11 541 000 |
|
r39 |
Long-term receivables |
469 000 |
479 000 |
375 000 |
2 123 000 |
|
r48 |
Short-term receivables |
1 921 000 |
1 192 000 |
1 334 000 |
1 182 000 |
|
r58 |
Short-term financial assets |
116 000 |
201 000 |
75 000 |
774 000 |
|
r63 |
Accruals |
131 000 |
194 000 |
77 000 |
73 000 |
|
r67 |
TOTAL LIABILITIES |
13 890 000 |
13 386 000 |
15 142 000 |
16 384 000 |
|
r68 |
Equity |
11 775 000 |
11 895 000 |
11 906 000 |
11 971 000 |
|
r69 |
Registered capital |
102 000 |
102 000 |
102 000 |
102 000 |
|
r73 |
Capital funds |
0 |
0 |
0 |
0 |
|
r78 |
Reserve funds, statutory reserve account for cooperatives, and other
retained earnings |
10 000 |
10 000 |
10 000 |
10 000 |
|
r81 |
Profit / loss - previous years |
10 595 000 |
11 663 000 |
11 783 000 |
11 794 000 |
|
r84 |
Profit / loss - current year (+/-) |
1 068 000 |
120 000 |
11 000 |
65 000 |
|
r85 |
Liabilities |
2 115 000 |
1 491 000 |
3 236 000 |
4 413 000 |
|
r86 |
Reserves |
0 |
0 |
0 |
0 |
|
r91 |
Long-term payables |
0 |
0 |
0 |
0 |
|
r102 |
Short-term payables |
2 115 000 |
1 491 000 |
3 164 000 |
3 179 000 |
|
r114 |
Bank loans and financial accommodations |
0 |
0 |
72 000 |
1 234 000 |
|
r118 |
Accruals |
0 |
0 |
0 |
0 |
|
|
profit/loss account |
31.12.2008 (CZK)
|
31.12.2009 (CZK)
|
31.12.2010 (CZK)
|
31.12.2011 (CZK)
|
|
|
a1 |
Turnover |
28 822 000 |
22 989 000 |
21 551 000 |
24 679 000 |
|
|
a2 |
Revenues from sold goods |
28 742 000
|
22 944 000
|
21 364 000
|
24 439 000
|
|
|
a3 |
Expenses on sold goods |
9 540 000
|
6 157 000
|
5 936 000
|
8 246 000
|
|
|
a4 |
Sale margin |
19 202 000 |
16 787 000 |
15 428 000 |
16 193 000 |
|
|
a5 |
Production |
80 000 |
45 000 |
187 000 |
240 000 |
|
|
a9 |
Production consumption |
11 061 000 |
10 514 000 |
9 733 000 |
9 933 000 |
|
|
a12 |
Added value |
8 221 000 |
6 318 000 |
5 882 000 |
6 500 000 |
|
|
a13 |
Personnel expenses |
6 035 000 |
5 280 000 |
4 962 000 |
5 381 000 |
|
|
a18 |
Taxes and fees |
12 000 |
12 000 |
19 000 |
21 000 |
|
|
a19 |
Depreciations of intangible and tangible assets |
282 000 |
329 000 |
407 000 |
328 000 |
|
|
a20 |
Revenues from disposals of fixed assets and materials |
0 |
0 |
0 |
290 000 |
|
|
a23 |
Net book value of disposed fixed assets and materials |
0 |
0 |
0 |
297 000 |
|
|
a26 |
Change in operating reserves and adjustments and complex deferred
costs ( + / - ) |
7 000 |
-13 000 |
71 000 |
86 000 |
|
|
a27 |
Other operating revenues |
95 000 |
139 000 |
156 000 |
111 000 |
|
|
a28 |
Other operating expenses |
340 000 |
388 000 |
294 000 |
364 000 |
|
|
a29 |
Transfer of operating revenues |
0 |
0 |
0 |
0 |
|
|
a30 |
Transfer of operating expenses |
0 |
0 |
0 |
0 |
|
|
a31 |
Operating profit / loss |
1 640 000 |
461 000 |
285 000 |
424 000 |
|
|
a32 |
Revenues from sales of securities and ownership interests |
0 |
0 |
0 |
0 |
|
|
a33 |
Sold securities and ownership interests |
0 |
0 |
0 |
0 |
|
|
a34 |
Revenues from long-term financial assets |
0 |
0 |
0 |
0 |
|
|
a38 |
Revenues from short-term financial assets |
0 |
0 |
0 |
0 |
|
|
a39 |
Expenses associated with financial assets |
0 |
0 |
0 |
0 |
|
|
a40 |
Revenues from revaluation of securities and derivatives |
0 |
0 |
0 |
0 |
|
|
a41 |
Cost of revaluation of securities and derivatives |
0 |
0 |
0 |
0 |
|
|
a42 |
Change in financial reserves and adjustments ( + / - ) |
0 |
0 |
0 |
0 |
|
|
a43 |
Interest revenues |
5 000 |
4 000 |
22 000 |
37 000 |
|
|
a44 |
Interest expenses |
0 |
0 |
11 000 |
43 000 |
|
|
a45 |
Other financial revenues |
239 000 |
102 000 |
107 000 |
124 000 |
|
|
a46 |
Other financial expenses |
498 000 |
373 000 |
360 000 |
422 000 |
|
|
a47 |
Transfer of financial revenues |
0 |
0 |
0 |
0 |
|
|
a48 |
Transfer of financial expenses |
0 |
0 |
0 |
0 |
|
|
a49 |
Profit / loss from financial operations ( transactions ) |
-254 000 |
-267 000 |
-242 000 |
-304 000 |
|
|
a50 |
Income tax on ordinary income |
318 000 |
74 000 |
32 000 |
55 000 |
|
|
a53 |
Operating profit / loss ordinary activity |
1 068 000 |
120 000 |
11 000 |
65 000 |
|
|
a54 |
Extraordinary revenues |
0 |
0 |
0 |
0 |
|
|
a55 |
Extraordinary expenses |
0 |
0 |
0 |
0 |
|
|
a56 |
Income tax on extraordinary income |
0 |
0 |
0 |
0 |
|
|
a59 |
Operating profit / loss extraordinary activity |
0 |
0 |
0 |
0 |
|
|
a60 |
Transfer profit ( loss ) to partners (+/-) |
0 |
0 |
0 |
0 |
|
|
a61 |
Profit / loss of current accounting period (+/-) |
1 068 000 |
120 000 |
11 000 |
65 000 |
|
|
a62 |
Profit / loss before tax (+/-) |
1 386 000 |
194 000 |
43 000 |
120 000 |
|
|
|
Receivables more than 180 days after due date |
|
60 000 |
615 000 |
431 000 |
|
|
|
Liabilities after due date total |
|
25 000 |
|
|
|
|
|
Liabilities more than 180 days after due date |
|
|
6 000 |
0 |
|
|
Balance indices |
|
31.12.2008 |
31.12.2009 |
31.12.2010 |
31.12.2011 |
|
|
Return on total assets ROA (in %) |
a62/r1 * 100 |
9,98 |
1,45 |
0,28 |
0,73 |
|
|
Return on equity ROE (in %) |
a62/r68 * 100 |
11,77 |
1,63 |
0,36 |
1,00 |
|
|
Return on sales ROS (in %) |
a62/a1 * 100 |
4,81 |
0,84 |
0,20 |
0,49 |
|
|
Turnover of receivables (in days) |
r49/a1 * 365 |
n/a |
n/a |
n/a |
n/a |
|
|
Turnover of liabilities (in days) |
r103/a1 * 365 |
n/a |
n/a |
n/a |
n/a |
|
|
Turnover of inventories (days) |
r32/a1 * 365 |
122,52 |
153,69 |
204,05 |
170,69 |
|
|
Net working capital (in ths. CZK) |
r31 - r102 - r116 - r117 |
10 066,00 |
10 061,00 |
10 668,00 |
12 441,00 |
|
|
Ratio of accounts payable to accounts receivable (in %) |
(r39+r48) / (r91+r102) * 100 |
113,00 |
112,07 |
54,01 |
103,96 |
|
|
Ratio of profit/loss to tangible assets (in%) |
r3 / a1 * 100 |
5,47 |
7,13 |
5,72 |
2,80 |
|
|
Current ratio |
r31 / (r102+r116+r117) |
n/a |
n/a |
n/a |
n/a |
|
|
Quick ratio |
(r58+r48) / (r102+r116+r117) |
0,96 |
0,93 |
0,45 |
0,62 |
|
|
Cash ratio |
r58 / (r102+r116+r117) |
n/a |
n/a |
n/a |
n/a |
|
|
Debt ratio I (in %) |
(1-r68/r67) * 100 |
15,23 |
11,14 |
21,37 |
26,93 |
|
|
Debt ratio II (in %) |
r85/r67 * 100 |
15,23 |
11,14 |
21,37 |
26,93 |
|
|
|
DIAMOND INDUSTRY – INDIA
-
From time immemorial, India is well known in the world as the birthplace
for diamonds. It is difficult to trace the origin of diamonds but history
says that in the remote past, diamonds were mined only in India. Diamond
production in India can be traced back to almost 8th Century B.C.
India, in fact, remained undisputed leader till 18th Century
when Brazilian fields were discovered in 1725 followed by emergence of S.
Africa, Russia and Australia.
-
The achievement of the Indian diamond industry was possible only due to
combination of the manufacturing skills of the Indian workforce and the
untiring and unflagging efforts of the Indian diamantaires, supported by
progressive Government policies.
-
The area of study of family owned diamond businesses derives its importance
from the huge conglomerate of family run organizations which operate in the
diamond industry since many generations.
-
Some of the basic traits of family run business enterprises include
spirit of entrepreneurship, mutual trust lowers transaction costs, small,
nimble and quick to react, information as a source of advantage and
philanthropy.
-
Family owned diamond businesses need to improve on many fronts including
higher standard of corporate governance, long-term performance – focused
strategies, modern management and technology.
-
Utmost caution is to be exercised while dealing with some medium and
large diamond traders which are usually engaged in fictitious import – export,
inter-company transactions, financially assisted by banks. In the process, several
public sector banks lost several hundred million rupees. They mostly diverted
borrowed money for diamond business into real estate and capital markets.
-
Excerpts from Times of India dated 30th October 2010 is as
under –
-
Gem & Jewellery Export Promotion Council in its statistical data has
shown the export of polished diamonds to have increase by 28 % in February
2013. Compared to $ 1.4 bn worth of polished diamond export in February, 2012,
India exported $ 1.84 billion worth of polished diamonds in February 2013. A
senior executive of GJEPC said, “Export of cut and polished diamonds started
falling month-wise after the imposition of 2 % of import duty on the polished
diamonds. But February, 2013 has given a new ray of hope to the industry as the
export of polished diamonds has actually increased by 28 %. It means the
industry is on the track of recovery and round tripping of diamonds has
stopped completely.” Demand has started coming from the US, the UK, Japan and
China. India’s polished diamond export is expected to cross $ 21 bn in 2013-14.
-
The banking sector has started exercising restraint while following
prudent risk management norms when lending money to gems and jewellery sector.
This follows the implementation of Basel III accord – a global voluntary
regulatory standard on bank capital adequacy, stress testing and market
liquidity.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.57.74 |
|
|
1 |
Rs.90.64 |
|
Euro |
1 |
Rs.77.02 |
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.