MIRA
INFORM REPORT
|
Report Date : |
19.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
PIMURSA SL |
|
|
|
|
Registered Office : |
Calle Lo Navarro 10, Murcia, 30110 |
|
|
|
|
Country : |
Spain |
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Year of Establishment : |
1967 |
|
|
|
|
Com. Reg. No.: |
B30010797 |
|
|
|
|
Legal Form : |
Private Independent Company |
|
|
|
|
Line of Business : |
Growing of spices, aromatic, drug and pharmaceutical crops |
|
|
|
|
No. of Employees : |
60 employees |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
Slow but Correct |
|
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
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
spain's mixed capitalist economy is the 13th largest
in the world, and its per capita income roughly matches that of Germany and France.
However, 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 0.1% in 2010, before turning positive in 2011, making Spain the last
major economy to emerge from the global recession. The reversal in Spain''s
economic growth reflected a significant decline in construction amid an
oversupply of housing and falling consumer spending, while exports actually
have begun to grow. Government efforts to boost the economy through stimulus
spending, extended unemployment benefits, and loan guarantees did not prevent a
sharp rise in the unemployment rate, which rose from a low of about 8% in 2007
to over 20% in 2011. The government budget deficit worsened from 3.8% of GDP in
2008 to 9.2% of GDP in 2010, more than three times the euro-zone limit. Madrid
cut the deficit to 8.5% of GDP in 2011, a larger deficit than the 6% target
negotiated between Spain and the EU. Spain''s large budget deficit and poor
economic growth prospects have made it vulnerable to financial contagion from
other highly-indebted euro zone members despite the government''s efforts to
cut spending, privatize industries, and boost competitiveness through labor
market reforms. Spanish banks'' high exposure to the collapsed domestic
construction and real estate market also poses a continued risk for the sector.
The government oversaw a restructuring of the savings bank sector in 2010, and
provided some $15 billion in capital to various institutions. Investors remain
concerned that Madrid may need to bail out more troubled banks. The Bank of
Spain, however, is seeking to boost confidence in the financial sector by
pressuring banks to come clean about their losses and consolidate into stronger
groups.
|
Source : CIA |
Company name & address
Pimursa Sl
Calle Lo Navarro 10
Murcia, 30110
Spain
Tel: +(34) 968879999
Fax: +(34) 968831016
Web: www.pimursa.es
Synthesis
Employees: 60
Company Type: Private Independent
Incorporation Date: 1967
Auditor: Beta Auditores Sl
Financials in: USD
(Millions)
Fiscal Year End:
31-May-2012
Reporting Currency: Euro
Annual Sales: 26.9
1
Net Income: 0.3
Total Assets: 19.2
Business Description
Growing of spices, aromatic, drug and pharmaceutical crops
Industry
Industry Crops
ANZSIC 2006: 013 - Fruit and
Tree Nut Growing
NACE 2002: 0113 - Growing of
fruit, nuts, beverage and spice crops
NAICS 2002: 1113 - Fruit and
Tree Nut Farming
UK SIC 2003: 0113 - Growing of
fruit, nuts, beverage and spice crops
UK SIC 2007: 012 - Growing of
perennial crops
US SIC 1987: 017 - Fruits and
Tree Nuts
Key Executives
|
1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7393314
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.806162
Corporate Overview
Location
Calle Lo Navarro 10
Murcia, 30110
Spain
Tel: +(34) 968879999
Fax: +(34) 968831016
Web: www.pimursa.es
Sales EUR(mil): 19.9
Assets EUR(mil): 15.5
Employees: 60
Fiscal Year End: 31-May-2012
Industry: Crops
Incorporation Date: 1967
Company Type: Private
Independent
Quoted Status: Not
Quoted
Registered No.(ESP): B30010797
Combined Chief
Executive Officer, Member Of The Board:
Sanchez Franco Juan Antonio
Contents
Industry Codes
Business Description
Financial Data
Key Corporate Relationships
Industry Codes
ANZSIC 2006 Codes:
013 - Fruit and Tree Nut Growing
NACE 2002 Codes:
0113 - Growing of fruit, nuts, beverage and spice crops
NAICS 2002 Codes:
1113 - Fruit and Tree Nut Farming
US SIC 1987:
017 - Fruits and Tree Nuts
UK SIC 2003:
0113 - Growing of fruit, nuts, beverage and spice crops
UK SIC 2007:
012 - Growing of perennial crops
Business
Description
Growing of spices, aromatic, drug and pharmaceutical crops
|
|||||||||||||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||||||||||||
Executive report
|
Board of
Directors |
|
|
|
|
|||
|
Vice Chairman, Member Of The Board |
Vice-Chairman |
|
|||
|
Combined Chief Executive Officer, Member Of The Board |
Director/Board Member |
|
|||
|
President, Member Of The Board |
Director/Board Member |
|
|||
|
Combined Chief Executive Officer, Member Of The Board |
Director/Board Member |
|
|||
|
Member Of The Board, Combined Chief Executive Officer |
Director/Board Member |
|
|||
|
Combined Chief Executive Officer, Member Of The Board |
Director/Board Member |
|
|||
|
Secretary, Combined Chief Executive Officer, Member Of The Board |
Director/Board Member |
|
|
Executives |
|
|
|
|
|||
|
Combined Chief Executive Officer, Member Of The Board |
Chief Executive Officer |
|
|||
|
Combined Chief Executive Officer, Member Of The Board |
Chief Executive Officer |
|
|||
|
Member Of The Board, Combined Chief Executive Officer |
Chief Executive Officer |
|
|||
|
Combined Chief Executive Officer, Member Of The Board |
Chief Executive Officer |
|
|||
|
Secretary, Combined Chief Executive Officer, Member Of The Board |
Chief Executive Officer |
|
|||
|
President, Member Of The Board |
President |
|
|||
|
Financial Director, Managing Director |
Managing Director |
|
|||
|
Technical Manager |
Engineering/Technical Executive |
|
Annual Profit & Loss
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2005 |
|
Period Length |
12 Months |
12 Months |
12 Months |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate
(Period Average) |
0.755078 |
0.719047 |
0.804541 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Charges |
26.9 |
27.5 |
18.2 |
|
Stock Reduction |
- |
1.4 |
1.2 |
|
Supplies |
19.0 |
18.2 |
11.4 |
|
Goods Consumption |
4.0 |
4.3 |
3.7 |
|
Consumption of Raw
Materials |
15.0 |
13.9 |
7.8 |
|
Staff Costs |
2.9 |
2.9 |
2.1 |
|
Wages and Salaries |
2.3 |
2.3 |
1.7 |
|
Social Security Costs |
0.6 |
0.6 |
0.4 |
|
Depreciation |
0.7 |
0.7 |
0.3 |
|
Allowance for Trade Operations |
- |
- |
0.0 |
|
Losses from
Unrecovered Receivables |
- |
- |
0.0 |
|
Other Operating Charges |
3.8 |
3.5 |
2.2 |
|
External Services |
3.8 |
3.5 |
2.1 |
|
Taxes |
0.1 |
0.0 |
0.0 |
|
Operating Benefits |
0.5 |
1.1 |
0.7 |
|
Financials and Similar Charges |
0.3 |
0.5 |
0.2 |
|
Due to Other
Liabilities |
0.3 |
0.5 |
0.2 |
|
Exchange Losses |
- |
0.1 |
0.6 |
|
Profit From Ordinary Activities |
0.4 |
0.5 |
0.3 |
|
Extraordinary Expenses |
0.0 |
- |
0.0 |
|
Extraordinary Profit |
- |
0.0 |
0.0 |
|
Profit Before Taxes |
0.4 |
0.6 |
0.4 |
|
Corporation Tax |
0.1 |
0.2 |
0.1 |
|
Financial Year Result (Profit) |
0.3 |
0.4 |
0.2 |
|
Income |
27.2 |
27.9 |
18.5 |
|
Net Total Sales |
26.4 |
27.8 |
17.9 |
|
Sales |
26.4 |
27.8 |
17.9 |
|
Increase in Stocks |
0.6 |
- |
- |
|
Miscellaneous Operating Income |
- |
- |
0.0 |
|
Auxiliary Income From
Current Management |
- |
- |
0.0 |
|
Income From Miscellaneous Interests |
0.2 |
0.1 |
0.0 |
|
Miscellaneous
Interests |
0.2 |
0.1 |
0.0 |
|
Gains from Exchange Rate |
0.0 |
- |
0.5 |
|
Negative Financial Results |
0.1 |
0.6 |
0.3 |
|
Extraordinary Income |
- |
0.0 |
0.0 |
|
Negative Extraordinary Results |
0.0 |
- |
- |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2005 |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.745406 |
0.696986 |
0.847781 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Research and
Development Costs |
0.0 |
- |
0.0 |
|
Concessions, Patents,
Trademarks |
0.0 |
0.0 |
0.0 |
|
Software |
0.0 |
0.0 |
0.1 |
|
Accumulated
Depreciation |
- |
- |
-0.1 |
|
Total Intangible Fixed Assets |
0.1 |
0.0 |
0.0 |
|
Land and Construction |
1.7 |
1.9 |
1.8 |
|
Technical
Installations and Machinery |
2.7 |
3.3 |
4.5 |
|
Other Installations,
Tools, and Furniture |
- |
- |
0.6 |
|
Tangible Fixed Assets
Under Construction |
0.0 |
0.0 |
0.0 |
|
Other Tangible Assets |
- |
- |
0.7 |
|
Accumulated
Depreciation |
- |
- |
-4.1 |
|
Total Tangible Fixed Assets |
4.4 |
5.2 |
3.4 |
|
Receivables from Group
Companies |
- |
- |
0.2 |
|
Long-Term Securities
Portfolio |
0.0 |
0.0 |
0.0 |
|
Long-Term Guarantees
and Deposits |
0.0 |
0.0 |
0.0 |
|
Financial Investments |
0.0 |
0.0 |
0.2 |
|
Total Fixed Assets |
4.5 |
5.3 |
3.6 |
|
Raw Materials and
Other Consumables |
4.9 |
4.9 |
4.9 |
|
Goods in Process |
1.9 |
1.3 |
0.5 |
|
Payments on Account |
1.0 |
1.0 |
0.8 |
|
Total Stocks |
7.7 |
7.1 |
6.2 |
|
Trade Debtors |
7.9 |
6.3 |
4.0 |
|
Other Debtors |
- |
- |
0.0 |
|
Public Bodies |
0.5 |
0.9 |
0.1 |
|
Provisions |
- |
- |
-0.1 |
|
Total Debtors |
8.4 |
7.2 |
4.0 |
|
Cash |
0.1 |
0.2 |
- |
|
Prepayments and Accrued Income |
- |
- |
0.4 |
|
Total Current Assets |
16.2 |
14.6 |
10.6 |
|
Total Assets |
20.8 |
19.9 |
14.3 |
|
Legal Reserve |
0.0 |
0.0 |
0.0 |
|
Miscellaneous Reserves |
5.1 |
5.2 |
4.0 |
|
Total Reserves |
5.1 |
5.2 |
4.0 |
|
Profit or Loss for the Financial Year |
0.3 |
0.4 |
0.2 |
|
Interim Dividend Paid |
- |
- |
-0.1 |
|
Total Equity |
5.6 |
5.8 |
4.2 |
|
Loans and Other
Liabilities |
0.4 |
1.3 |
2.1 |
|
Long-Term Liabilities
from Capital Leases |
- |
0.1 |
- |
|
Total Amounts Owed to Credit Institutions |
0.4 |
1.4 |
2.1 |
|
Long-Term Payables to
Public Bodies |
- |
0.0 |
- |
|
Total Other Creditors |
- |
0.0 |
- |
|
Total Long Term Liabilities |
0.4 |
1.4 |
2.1 |
|
Loans and Other
Liabilities |
10.3 |
9.1 |
5.7 |
|
Short-Term Liabilities
from Capital Leases |
- |
0.0 |
- |
|
Total Amounts Owed to Credit Institutions |
10.3 |
9.1 |
5.7 |
|
Amounts Owed for
Purchases of Goods or Services |
3.2 |
2.1 |
0.6 |
|
Debts Represented by
Notes Payable |
- |
- |
1.0 |
|
Total Trade Creditors |
3.2 |
2.1 |
1.5 |
|
Public Bodies |
0.3 |
0.2 |
0.1 |
|
Miscellaneous Debts |
0.9 |
1.1 |
0.5 |
|
Wages and Salaries
Payable |
0.3 |
0.1 |
0.2 |
|
Total Other Creditors |
1.4 |
1.5 |
0.8 |
|
Total Short Term Creditors |
14.8 |
12.7 |
8.0 |
|
Total Liabilities and Equity |
20.8 |
19.9 |
14.3 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.29 |
|
UK Pound |
1 |
Rs.81.93 |
|
Euro |
1 |
Rs.70.01 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.