MIRA
INFORM REPORT
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Report Date : |
04.05.2013 |
IDENTIFICATION DETAILS
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Name : |
ADEL |
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Registered Office : |
29, Boulevard Charles De Gaulle Decines Charpieu, 69150 |
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Country : |
France |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
15.01.1956 |
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Com. Reg. No.: |
956507164 |
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Legal Form : |
Private Subsidiary |
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Line of Business : |
Subject is engaged in forging, pressing, stamping and roll-forming of
metal |
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No. of Employees : |
58 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but Correct |
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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) |
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France |
A1 |
A1 |
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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
France was transitioning from an economy that has featured
extensive government ownership and intervention to one that relies more on
market mechanisms but is in the midst of a euro-zone crisis. The government has
partially or fully privatized many large companies, banks, and insurers, and
has ceded stakes in such leading firms as Air France, France Telecom, Renault,
and Thales. It maintains a strong presence in some sectors, particularly power,
public transport, and defense industries. With at least 75 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. The
unemployment rate increased from 7.4% in 2008 to 9.3% in 2010 and 9.1% in 2011.
Lower-than-expected growth and increased unemployment have cut government
revenues and increased borrowing costs, contributing to a deterioration of
France's public finances. The government budget deficit rose sharply from 3.4%
of GDP in 2008 to 7.5% of GDP in 2009 before improving to 5.8% of GDP in 2011,
while France's public debt rose from 68% of GDP to 86% over the same period.
Under President SARKOZY, Paris implemented austerity measures that eliminated
tax credits and froze most government spending in an effort 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 levels. Socialist Francois HOLLANDE won the May 2012
presidential election, after advocating pro-growth economic policies, as well
as measures such as forcing banks to separate their traditional deposit taking
and lending activities from more speculative businesses, increasing taxes on
bank profits, introducing a new top bracket on income taxes for people earning
over €1 million ($1.3 million) a year, and hiring an additional 60,000 civil
servants during his five-year term of office.
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Source : CIA |
Company name and address
ADEL
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Business Description
Adel is primarily engaged in forging, pressing, stamping and
roll-forming of metal; and powder metallurgy: production of metal objects
directly from metal powders by heat treatment (sintering) or under pressure.
Industry
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Industry |
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ANZSIC 2006: |
2240 - Sheet Metal Product Manufacturing (except
Metal Structural and Container Products) |
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NACE 2002: |
2840 - Forging, pressing, stamping and roll forming
of metal; powder metallurgy |
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NAICS 2002: |
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UK SIC 2003: |
2840 - Forging, pressing, stamping and roll forming
of metal; powder metallurgy |
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UK SIC 2007: |
2550 - Forging, pressing, stamping and roll-forming
of metal; powder metallurgy |
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US SIC 1987: |
Key Executives
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Name |
Title |
Source |
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Philippe Adelhanoff |
General manager, President |
D&B |
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Thierry Guglielmo |
Director, Purchase manager |
D&B |
News
|
Title |
Date |
|
NewFilmmakers
LA Film Festival Debuts May 11th Program at AT&T Center |
2-May-2013 |
|
Wheat
shipments arrive in Egypt |
2-May-2013 |
|
Parking
meters say no to new Dh1 coins |
2-May-2013 |
|
INDUSTRIALS,
MINING AND OILS GUIDE -- Last: last sale price of stock. Chg. change in value
from previous day. Vol (100s): volume of shares traded. buy: the highest
bidding price. Sell: the lowest asking price. Prices quoted in dollars |
2-May-2013 |
|
Amid
Fealty to Socialism, a Nod to Capitalism |
2-May-2013 |
|
Countdown
to SATS - A Parents' Guide |
1-May-2013 |
Registered No.(FRA): 956507164
1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7191895
2 - Balance Sheet Item Exchange Rate:
USD 1 = EUR 0.770327
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ANZSIC 2006 Codes: |
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2240 |
- |
Sheet Metal Product Manufacturing (except Metal Structural
and Container Products) |
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2299 |
- |
Other Fabricated Metal Product Manufacturing Not Elsewhere
Classified |
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NACE 2002 Codes: |
||
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2840 |
- |
Forging, pressing, stamping and roll forming of metal;
powder metallurgy |
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2875 |
- |
Manufacture of other fabricated metal products not
elsewhere classified |
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NAICS 2002 Codes: |
||
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33211 |
- |
Forging and Stamping |
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332999 |
- |
All Other Miscellaneous Fabricated Metal Product
Manufacturing |
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US SIC 1987: |
||
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3462 |
- |
Iron and Steel Forgings |
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3499 |
- |
Fabricated Metal Products, Not Elsewhere Classified |
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UK SIC 2003: |
||
|
2840 |
- |
Forging, pressing, stamping and roll forming of metal;
powder metallurgy |
|
2875 |
- |
Manufacture of other fabricated metal products not
elsewhere classified |
|
UK SIC 2007: |
||
|
2550 |
- |
Forging, pressing, stamping and roll-forming of metal;
powder metallurgy |
|
2599 |
- |
Manufacture of other fabricated metal products n.e.c. |
Adel is primarily engaged in forging, pressing, stamping and roll-forming of metal; and powder metallurgy: production of metal objects directly from metal powders by heat treatment (sintering) or under pressure.
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Corporate
Family
Corporate Structure News:
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Total Corporate Family Members: 2 |
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
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Groupe Adel |
Parent |
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Subsidiary |
Decines Charpieu |
France |
Miscellaneous Fabricated Products |
17.5 |
58 |
Executives
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General manager, President |
President |
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Director, Purchase manager |
Administration Executive |
News
Annual
Profit & Loss
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
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Period Length |
12 Months |
12 Months |
12 Months |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate (Period
Average) |
0.71919 |
0.755078 |
0.719047 |
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Consolidated |
No |
No |
No |
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Total income |
17.8 |
17.2 |
16.7 |
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Net sales |
17.5 |
16.4 |
16.8 |
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Change in stock |
-0.2 |
0.2 |
0.7 |
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Unfinished work in progress |
0.1 |
0.5 |
-0.3 |
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Own work capitalised |
0.1 |
- |
- |
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Supplementary operating income |
0.2 |
0.3 |
0.2 |
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Other operating income |
- |
- |
0.0 |
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Other external charges |
4.3 |
3.6 |
3.7 |
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Cost of goods sold |
8.8 |
7.9 |
6.6 |
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Taxes and social security costs |
0.4 |
0.4 |
0.5 |
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Social charges |
1.2 |
1.2 |
1.3 |
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Total payroll costs |
2.7 |
2.9 |
3.2 |
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Cost of stock depreciation and amortisation |
0.1 |
0.0 |
0.1 |
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Fixed asset depreciation and amortisation |
0.2 |
0.2 |
0.3 |
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Other operating costs |
- |
0.1 |
- |
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Total operating costs |
17.5 |
16.5 |
16.5 |
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Net operating income |
0.3 |
0.7 |
0.2 |
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Total financial income |
0.0 |
0.0 |
0.0 |
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Interest payable on loans |
0.1 |
0.0 |
0.1 |
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Other expenses |
- |
0.0 |
0.0 |
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Total expenses |
0.1 |
0.1 |
0.1 |
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Profit before tax |
0.3 |
0.6 |
0.2 |
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Extraordinary income |
1.4 |
0.0 |
0.1 |
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Extraordinary expenses |
1.4 |
0.0 |
0.1 |
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Extraordinary result |
0.1 |
0.0 |
0.0 |
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Total taxation |
0.1 |
0.2 |
0.0 |
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Profit distributed to employees |
- |
0.1 |
- |
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Net profit |
0.2 |
0.3 |
0.1 |
Annual
Balance Sheet
Financials in: USD (mil)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.770327 |
0.745406 |
0.696986 |
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Consolidated |
No |
No |
No |
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Issued capital |
0.8 |
0.8 |
0.8 |
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Share premium account |
3.5 |
3.5 |
3.7 |
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Total reserves |
0.2 |
0.3 |
0.6 |
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Profits for the year |
0.2 |
0.3 |
0.1 |
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Total stockholders equity |
4.6 |
4.9 |
5.2 |
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Provisions and allowances |
0.0 |
0.1 |
0.1 |
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Trade creditors |
1.1 |
1.0 |
1.2 |
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Bank loans and overdrafts |
1.1 |
0.7 |
1.1 |
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Current bank debts |
0.0 |
0.0 |
0.0 |
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Other loans |
0.4 |
0.2 |
0.1 |
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Other liabilities |
0.0 |
0.2 |
0.3 |
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Income stated in advance |
- |
0.0 |
- |
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Taxation and social security |
0.6 |
0.9 |
0.7 |
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Total current liabilities |
2.4 |
2.5 |
2.6 |
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Total debts |
3.3 |
3.0 |
3.3 |
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Total liabilities (including net worth) |
8.0 |
7.9 |
8.7 |
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Goodwill |
2.0 |
2.1 |
2.2 |
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Buildings |
0.3 |
0.4 |
0.5 |
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Other fixed assets |
1.0 |
0.3 |
0.4 |
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Other financial assets |
0.1 |
0.1 |
0.1 |
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Total non-current assets |
3.4 |
2.8 |
3.2 |
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Prepayments |
0.0 |
0.0 |
- |
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Net stocks and work in progress |
1.0 |
0.7 |
0.5 |
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Trade debtors |
3.1 |
2.8 |
3.1 |
|
Other receivables |
0.1 |
0.2 |
0.3 |
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Prepaid expenses |
0.2 |
0.1 |
0.1 |
|
Cash and liquid assets |
0.2 |
0.4 |
0.7 |
|
Marketable securities |
0.0 |
0.8 |
0.9 |
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Total current assets |
4.6 |
5.1 |
5.5 |
|
Total assets |
8.0 |
7.9 |
8.7 |
Annual
Ratios
Financials in: USD (mil)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
|
Period Length |
12 Months |
12 Months |
12 Months |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.770327 |
0.745406 |
0.696986 |
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Consolidated |
No |
No |
No |
|
|
|
|
|
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Current ratio |
1.90 |
2.00 |
2.10 |
|
Quick ratio |
1.50 |
1.70 |
1.90 |
|
Total liabilities to net worth |
1.28% |
1.06% |
1.11% |
|
Net worth to total assets |
0.33% |
0.36% |
0.35% |
|
Collection period |
57.50 |
51.40 |
55.20 |
|
Stock turnover rate |
17.10 |
23.40 |
35.20 |
|
Asset turnover |
2.05% |
2.11% |
1.99% |
|
Profit margin |
0.02% |
0.04% |
0.01% |
|
Return on assets |
0.03% |
0.08% |
0.02% |
|
Shareholders' return |
0.09% |
0.23% |
0.06% |
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Sales per employee |
1,423.42 |
1,428.46 |
1,316.85 |
|
Profit per employee |
21.05 |
54.54 |
13.64 |
|
Average wage per employee |
222.02 |
250.61 |
254.70 |
|
Net worth |
4.6 |
4.9 |
5.2 |
|
Number of employees |
58 |
57 |
60 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.95 |
|
|
1 |
Rs.83.80 |
|
Euro |
1 |
Rs.70.49 |
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.