MIRA
INFORM REPORT
|
Report Date : |
18.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
SOUFFLET ALIMENTAIRE SAS |
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Registered Office : |
41 rue du Petit Bruxelles |
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Country : |
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Financials (as on) : |
30.06.2012 |
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Date of Incorporation : |
15.01.1956 |
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Com. Reg. No.: |
568801260 |
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Legal Form : |
Private Subsidiary |
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Line of Business : |
Import and processing and packaging of rice and pulses for all industrial, ethnic, retail and catering markets. |
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No. of Employees : |
190 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
No Complaints |
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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 |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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.
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Source
: CIA |
Company name and address
SOUFFLET ALIMENTAIRE SAS
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41 rue du Petit Bruxelles Valenciennes, 59300 France
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Business Description
Import and processing and packaging of rice and pulses for all industrial, ethnic, retail and catering markets
Industry
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Industry |
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ANZSIC 2006: |
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NACE 2002: |
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NAICS 2002: |
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UK SIC 2003: |
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UK SIC 2007: |
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US SIC 1987: |
Key Executives
|
Name |
Title |
|
Theirry Lievin |
President |
|
Laurence Kaczmarek |
Director |
|
Andre Lemaire |
Director |
|
Francois Vail |
Director |
|
Christophe Bal |
Purchase manager |
Registered No.(FRA): 568801260
1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7476949
2 - Balance Sheet Item Exchange Rate:
USD 1 = EUR 0.8046644
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ANZSIC 2006 Codes: |
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1161 |
- |
Grain Mill Product Manufacturing |
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NACE 2002 Codes: |
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1561 |
- |
Manufacture of grain mill products |
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NAICS 2002 Codes: |
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311211 |
- |
Flour Milling |
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US SIC 1987: |
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2041 |
- |
Flour and Other Grain Mill Products |
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UK SIC 2003: |
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15611 |
- |
Grain milling |
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UK SIC 2007: |
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10611 |
- |
Grain milling |
Import and processing and packaging of rice and pulses for
all industrial, ethnic, retail and catering markets
More Business Descriptions
Raw Materials Importer
Soufflet Alimentaire is primarily engaged in grain milling; and manufacture of breakfast cereals and cereals-based foods.
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Company |
Percentage Owned |
Country |
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Soufflet Alimentaire Camargue |
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France |
Bank: Lcl Le Credit Lyonnais, Bnp Paribas, Societe Generale
Corporate
Family
Corporate Structure News:
Total Corporate Family Members: 39
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
|
Parent |
Nogent Sur Seine |
France |
Food Processing |
5,306.4 |
202 |
|
|
Subsidiary |
Nogent sur Seine |
France |
Crops |
1,731.7 |
749 |
|
|
Subsidiary |
Limay |
France |
Beverages (Alcoholic) |
86.0 |
206 |
|
|
Subsidiary |
Marans |
France |
Crops |
270.7 |
74 |
|
|
Subsidiary |
Gryazi |
Russian Federation |
Fish and Livestock |
52.4 |
45 |
|
|
Subsidiary |
Poznan |
Poland |
Crops |
61.3 |
40 |
|
|
Subsidiary |
Neuville Aux Bois |
France |
Chemical Manufacturing |
5.7 |
34 |
|
|
Subsidiary |
St Bris Le Vineux |
France |
Crops |
3.0 |
14 |
|
|
Subsidiary |
Nogent Sur Seine |
France |
Commercial Banks |
|
14 |
|
|
Subsidiary |
La Chatre |
France |
Miscellaneous Financial Services |
12.0 |
7 |
|
|
Subsidiary |
Prostejov |
Czech Republic |
Crops |
226.3 |
|
|
|
Subsidiary |
Corbeil Essonnes |
France |
Food Processing |
443.4 |
374 |
|
|
Subsidiary |
Corbeil Essonnes |
France |
Food Processing |
57.2 |
34 |
|
|
Subsidiary |
Nogent Sur Seine |
France |
Oil and Gas Operations |
65.9 |
14 |
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Subsidiary |
Moscow |
Russian Federation |
Food Processing |
5.6 |
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Subsidiary |
Valenciennes |
France |
Food Processing |
188.8 |
190 |
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Subsidiary |
Arles |
France |
Food Processing |
38.7 |
34 |
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Subsidiary |
Nogent sur Seine |
France |
Beverages (Alcoholic) |
438.2 |
137 |
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Subsidiary |
Nogent Sur Seine |
France |
Beverages (Alcoholic) |
121.6 |
101 |
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Subsidiary |
Bruchsal, Baden-WĂ¼rttemberg |
Germany |
Beverages (Alcoholic) |
|
80 |
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Subsidiary |
Castrop-Rauxel, Nordrhein-Westfalen |
Germany |
Beverages (Alcoholic) |
|
18 |
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Subsidiary |
Colombelles |
France |
Chemical Manufacturing |
18.0 |
49 |
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Subsidiary |
Nogent Sur Seine |
France |
Trucking |
15.2 |
34 |
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Subsidiary |
Nogent sur Seine |
France |
Crops |
1,634.6 |
30 |
|
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Subsidiary |
Nogent Sur Seine |
France |
Miscellaneous Transportation |
33.0 |
34 |
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Subsidiary |
Roma, Roma |
Italy |
Crops |
0.0 |
2 |
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Subsidiary |
Paris |
France |
Food Processing |
85.0 |
20 |
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Subsidiary |
Ridderkerk |
Netherlands |
Food Processing |
58.2 |
105 |
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Subsidiary |
Strasbourg |
France |
Food Processing |
0.3 |
4 |
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Subsidiary |
Nogent Sur Seine |
France |
Business Services |
1.7 |
1 |
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Subsidiary |
Nogent Sur Seine |
France |
Miscellaneous Transportation |
5.5 |
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Subsidiary |
Nogent Sur Seine |
France |
Business Services |
4.3 |
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Subsidiary |
Nogent Sur Seine |
France |
Miscellaneous Financial Services |
0.7 |
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Subsidiary |
Nogent sur Seine |
France |
Food Processing |
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Subsidiary |
Prostejov |
Czech Republic |
Beverages (Alcoholic) |
165.4 |
183 |
|
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Subsidiary |
St. Petersburg |
Russian Federation |
Beverages (Alcoholic) |
64.6 |
39 |
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|
Malterie Soufflet Magyarorszag Malatagyarto Es
-Forgalmazo Korlatolt Felelossegu Tarsasag |
Subsidiary |
Nagykanizsa |
Hungary |
Beverages (Alcoholic) |
18.1 |
31 |
|
Subsidiary |
Bennekom, Gelderland |
Netherlands |
Business Services |
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Subsidiary |
Nogent Sur Seine |
France |
Food Processing |
58.0 |
4 |
Executives Report
Executives
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President |
President |
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Director |
Administration Executive |
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Director |
Administration Executive |
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Director |
Administration Executive |
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Director |
Administration Executive |
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Purchase manager |
Purchasing Executive |
Annual Profit & Loss
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|
30-Jun-2012 |
30-Jun-2011 |
30-Jun-2010 |
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Period Length |
12 Months |
12 Months |
12 Months |
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Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate (Period
Average) |
0.747695 |
0.7347 |
0.721483 |
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Consolidated |
No |
No |
No |
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Total income |
193.2 |
192.4 |
199.0 |
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Net sales |
188.8 |
188.8 |
199.0 |
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Change in stock |
1.7 |
2.5 |
-4.9 |
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Unfinished work in progress |
3.8 |
1.6 |
-2.5 |
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Supplementary operating income |
0.6 |
2.0 |
2.5 |
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Other external charges |
37.0 |
40.8 |
44.5 |
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Cost of goods sold |
133.7 |
132.4 |
138.7 |
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Taxes and social security costs |
1.9 |
2.0 |
1.8 |
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Social charges |
4.1 |
3.8 |
3.9 |
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Total payroll costs |
8.0 |
7.7 |
8.1 |
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Cost of stock depreciation and amortisation |
0.5 |
0.7 |
1.0 |
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Fixed asset depreciation and amortisation |
2.6 |
2.7 |
2.7 |
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Other operating costs |
0.8 |
0.8 |
1.5 |
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Total operating costs |
190.3 |
193.5 |
197.4 |
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Net operating income |
2.9 |
-1.1 |
1.6 |
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Total financial income |
0.1 |
0.2 |
0.9 |
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Interest payable on loans |
2.0 |
1.1 |
1.0 |
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Other expenses |
0.1 |
0.2 |
0.4 |
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Total expenses |
2.0 |
1.3 |
1.4 |
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Profit before tax |
1.0 |
-2.2 |
1.1 |
|
Extraordinary income |
1.6 |
1.6 |
3.4 |
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Extraordinary expenses |
2.0 |
2.4 |
4.5 |
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Extraordinary result |
-0.3 |
-0.8 |
-1.1 |
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Total taxation |
0.0 |
-0.1 |
0.3 |
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Profit distributed to employees |
0.1 |
0.1 |
0.3 |
|
Net profit |
0.5 |
- |
- |
|
Net loss |
- |
3.0 |
0.6 |
Annual
Balance Sheet
Financials in: USD (mil)
|
|
30-Jun-2012 |
30-Jun-2011 |
30-Jun-2010 |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.804664 |
0.689727 |
0.816393 |
|
Consolidated |
No |
No |
No |
|
|
|
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Issued capital |
2.7 |
3.1 |
2.6 |
|
Share premium account |
6.2 |
7.2 |
6.1 |
|
Legal reserves |
26.3 |
30.1 |
24.2 |
|
Total reserves |
12.9 |
15.1 |
12.7 |
|
Profits for the year |
0.5 |
-3.2 |
-0.5 |
|
Profit brought forward from previous year(s) |
-8.3 |
-6.5 |
-4.9 |
|
Capital subsidies and grants |
1.0 |
1.4 |
1.5 |
|
Total stockholders equity |
41.2 |
47.3 |
41.7 |
|
Provisions and allowances |
1.5 |
1.9 |
1.7 |
|
Trade creditors |
18.1 |
24.2 |
17.4 |
|
Bank loans and overdrafts |
2.3 |
8.5 |
9.8 |
|
Current bank debts |
0.9 |
1.7 |
0.5 |
|
Other loans |
27.6 |
34.2 |
24.1 |
|
Other liabilities |
3.9 |
7.6 |
6.0 |
|
Debts on fixed assets |
0.1 |
0.9 |
0.2 |
|
Income stated in advance |
0.6 |
0.7 |
0.8 |
|
Taxation and social security |
3.8 |
4.0 |
3.9 |
|
Total current liabilities |
52.5 |
76.5 |
56.1 |
|
Total debts |
56.4 |
80.1 |
62.3 |
|
Regularisation account |
0.0 |
0.2 |
0.0 |
|
Total liabilities (including net worth) |
99.1 |
129.4 |
105.6 |
|
Patents |
0.0 |
0.0 |
0.0 |
|
Goodwill |
3.8 |
4.4 |
3.7 |
|
Other intangibles |
0.1 |
0.1 |
0.1 |
|
Land |
0.4 |
0.5 |
0.4 |
|
Buildings |
8.7 |
10.6 |
9.5 |
|
Other fixed assets |
18.6 |
23.4 |
20.0 |
|
Long-term investments |
6.5 |
7.6 |
6.4 |
|
Other financial assets |
2.5 |
1.9 |
1.7 |
|
Total non-current assets |
40.7 |
48.6 |
42.0 |
|
Net stocks and work in progress |
37.3 |
41.4 |
34.6 |
|
Trade debtors |
16.5 |
31.4 |
24.0 |
|
Other receivables |
3.3 |
7.6 |
4.2 |
|
Prepaid expenses |
0.1 |
0.1 |
0.0 |
|
Cash and liquid assets |
1.1 |
0.2 |
0.7 |
|
Total current assets |
58.4 |
80.8 |
63.5 |
|
Prepaid expenses and deferred costs |
0.0 |
0.0 |
0.1 |
|
Total assets |
99.1 |
129.4 |
105.6 |
Annual
Ratios
Financials in: USD (mil)
|
|
30-Jun-2012 |
30-Jun-2011 |
30-Jun-2010 |
|
Period Length |
12 Months |
12 Months |
12 Months |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.804664 |
0.689727 |
0.816393 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Current ratio |
1.10 |
1.10 |
1.10 |
|
Quick ratio |
0.40 |
0.50 |
0.50 |
|
Total liabilities to net worth |
1.51% |
1.88% |
1.65% |
|
Net worth to total assets |
0.38% |
0.33% |
0.36% |
|
Collection period |
28.60 |
47.40 |
41.40 |
|
Stock turnover rate |
4.70 |
4.90 |
5.10 |
|
Asset turnover |
1.77% |
1.55% |
1.67% |
|
Profit margin |
0.01% |
-0.01% |
0.01% |
|
Return on assets |
0.01% |
-0.02% |
0.01% |
|
Shareholders' return |
0.02% |
-0.05% |
0.03% |
|
Sales per employee |
4,874.27 |
4,595.31 |
4,662.41 |
|
Profit per employee |
25.32 |
-52.89 |
24.83 |
|
Average wage per employee |
207.56 |
187.18 |
189.78 |
|
Net worth |
41.2 |
47.3 |
41.7 |
|
Number of employees |
190 |
198 |
202 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.57.73 |
|
|
1 |
Rs.90.61 |
|
Euro |
1 |
Rs.76.96 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.