MIRA
INFORM REPORT
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Report Date : |
07.05.2013 |
IDENTIFICATION DETAILS
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Name : |
THILE |
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Registered Office : |
158, Ter Rue Du Temple
Paris, 75003 |
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Country : |
France |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
15.04.1994 |
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Com. Reg. No.: |
394572416 |
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Legal Form : |
Private Independent |
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Line of Business : |
Subject is engaged in repair of watches, clocks and
jewellery. |
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No. of Employees : |
34 |
RATING & COMMENTS
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MIRAs 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 : |
Small Company |
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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
THILE
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Business Description
Thile is primarily engaged in repair of watches, clocks and jewellery.
Industry
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Industry |
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ANZSIC 2006: |
9499 - Other Repair and Maintenance Not Elsewhere
Classified |
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NACE 2002: |
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NAICS 2002: |
811490 - Other Personal and Household Goods Repair
and Maintenance |
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UK SIC 2003: |
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UK SIC 2007: |
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US SIC 1987: |
Key Executives
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Name |
Title |
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Abraham Benhamron |
Partner |
News
|
Title |
Date |
|
BRIEF: Steve Martin, Edie Brickell,
Alison Krauss and more coming to Raleigh this fall for bluegrass convention |
2-May-2013 |
|
CAMA announces star-studded 95th
season |
27-Apr-2013 |
|
Chicago Tribune Howard Reich column |
19-Apr-2013 |
|
Ticket Tracker: Selena Gomez coming
to Chaifetz Arena |
19-Apr-2013 |
|
Odia theatre treat for Delhi
audience |
18-Apr-2013 |
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Karaoke? I do it My Way ; Guilty pleasures:
Chris Leslie |
18-Apr-2013 |
Registered No.(FRA): 394572416
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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9499 |
- |
Other Repair and Maintenance Not Elsewhere Classified |
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NACE 2002 Codes: |
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5273 |
- |
Repair of watches, clocks and jewellery |
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NAICS 2002 Codes: |
||
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811490 |
- |
Other Personal and Household Goods Repair and Maintenance |
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US SIC 1987: |
||
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7631 |
- |
Watch, Clock, and Jewelry Repair |
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UK SIC 2003: |
||
|
5273 |
- |
Repair of watches, clocks and jewellery |
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UK SIC 2007: |
||
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9525 |
- |
Repair of watches, clocks and jewellery |
Thile is primarily engaged in repair of watches, clocks and jewellery.
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Executives
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Partner |
Partner |
News
Annual
Profit & Loss
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31-Dec-2011 |
31-Dec-2009 |
31-Dec-2008 |
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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) |
0.71919 |
0.719047 |
0.683679 |
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Consolidated |
No |
No |
No |
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Total income |
2.6 |
2.3 |
2.4 |
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Net sales |
2.4 |
2.1 |
2.2 |
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Change in stock |
-0.1 |
0.0 |
0.0 |
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Subsidies for operating costs |
0.0 |
0.0 |
0.0 |
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Supplementary operating income |
0.1 |
0.2 |
0.2 |
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Other operating income |
0.0 |
0.0 |
0.0 |
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Other external charges |
0.3 |
0.3 |
0.4 |
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Cost of goods sold |
1.2 |
0.8 |
0.9 |
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Taxes and social security costs |
0.0 |
0.0 |
0.0 |
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Social charges |
0.3 |
0.2 |
0.2 |
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Total payroll costs |
0.7 |
0.6 |
0.6 |
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Cost of stock depreciation and amortisation |
0.1 |
0.1 |
0.1 |
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Fixed asset depreciation and amortisation |
0.0 |
0.0 |
0.0 |
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Other operating costs |
0.0 |
0.0 |
0.0 |
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Total operating costs |
2.5 |
2.0 |
2.3 |
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Net operating income |
0.1 |
0.3 |
0.1 |
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Total financial income |
0.0 |
- |
0.1 |
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Interest payable on loans |
0.0 |
0.0 |
0.0 |
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Other expenses |
0.0 |
- |
- |
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Total expenses |
0.0 |
0.0 |
0.0 |
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Profit before tax |
0.1 |
0.3 |
0.1 |
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Extraordinary expenses |
0.0 |
0.0 |
0.0 |
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Extraordinary result |
0.0 |
0.0 |
0.0 |
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Total taxation |
0.0 |
0.1 |
0.0 |
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Net profit |
0.1 |
0.2 |
0.1 |
Annual
Balance Sheet
Financials in: USD (mil)
|
|
31-Dec-2011 |
31-Dec-2009 |
31-Dec-2008 |
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Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.770327 |
0.696986 |
0.719399 |
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Consolidated |
No |
No |
No |
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Issued capital |
0.1 |
0.1 |
0.1 |
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Total reserves |
0.0 |
0.0 |
0.0 |
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Profits for the year |
0.1 |
0.2 |
0.1 |
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Profit brought forward from previous year(s) |
0.8 |
0.6 |
0.5 |
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Total stockholders equity |
1.0 |
0.9 |
0.7 |
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Trade creditors |
0.2 |
0.3 |
0.3 |
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Bank loans and overdrafts |
- |
0.0 |
0.0 |
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Current bank debts |
- |
0.0 |
0.0 |
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Other liabilities |
0.0 |
0.1 |
0.1 |
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Taxation and social security |
0.4 |
0.4 |
0.3 |
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Total current liabilities |
0.6 |
0.7 |
0.7 |
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Total debts |
0.6 |
0.7 |
0.7 |
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Total liabilities (including net worth) |
1.6 |
1.7 |
1.4 |
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Goodwill |
0.0 |
0.0 |
0.0 |
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Other fixed assets |
0.0 |
0.0 |
0.0 |
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Other financial assets |
0.0 |
0.0 |
0.0 |
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Total non-current assets |
0.1 |
0.1 |
0.1 |
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Net stocks and work in progress |
0.7 |
0.7 |
0.6 |
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Trade debtors |
0.7 |
0.8 |
0.7 |
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Other receivables |
0.0 |
0.0 |
0.0 |
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Prepaid expenses |
0.0 |
0.0 |
0.0 |
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Cash and liquid assets |
0.1 |
0.0 |
0.0 |
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Total current assets |
1.6 |
1.6 |
1.3 |
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Total assets |
1.6 |
1.7 |
1.4 |
Annual
Ratios
Financials in: USD (mil)
|
|
31-Dec-2011 |
31-Dec-2009 |
31-Dec-2008 |
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Period Length |
12 Months |
12 Months |
12 Months |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.770327 |
0.696986 |
0.719399 |
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Consolidated |
No |
No |
No |
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|
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Current ratio |
2.60 |
2.20 |
1.90 |
|
Quick ratio |
1.40 |
1.20 |
1.00 |
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Total liabilities to net worth |
0.62% |
0.82% |
1.07% |
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Net worth to total assets |
0.61% |
0.54% |
0.48% |
|
Collection period |
90.00 |
116.70 |
102.80 |
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Stock turnover rate |
3.10 |
3.20 |
3.30 |
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Asset turnover |
1.41% |
1.32% |
1.47% |
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Profit margin |
0.06% |
0.14% |
0.06% |
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Return on assets |
0.08% |
0.18% |
0.08% |
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Shareholders' return |
0.13% |
0.34% |
0.17% |
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Sales per employee |
640.37 |
555.11 |
569.66 |
|
Profit per employee |
36.19 |
77.07 |
31.30 |
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Average wage per employee |
182.60 |
150.83 |
158.48 |
|
Net worth |
1.0 |
0.9 |
0.7 |
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Number of employees |
18 |
18 |
17 |
DIAMOND INDUSTRY
INDIA
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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.
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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.
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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.
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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.
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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.
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The diamond jewellery industry in India today may be more than Rs 60000
mil and is rated amongst the fastest growing in the world. Indi ranks
third in the world in domestic diamond consumption.
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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.
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Excerpts from Times of India dated 30th October 2010 is as
under
DIAMOND SAGA
DIRTY DOZEN STUCK WITH 2K CR DEBT
This could be the biggest credibility crisis
the Indian diamond industry has ever faced. Fifteen banks run the risk of
losing Rs 2000 crore lent to a dozen diamond firms in Surat. Until about two
months ago, they had not repaid these dues. Bankers believe many
diamantaires borrowed money during the economic downturn two years ago and
diverted funds to businesses like real estate and capital markets. Many of
themselves made money from these businesses but their diamond companies have
gone sick and declared insolvency.
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Most of the money borrowed from the banks in the name of their diamond
business has been diverted in real estate and the share market. The banks are
not in a position to seize their properties because in many cases, these were
purchased in the name of their relatives and friends.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.95 |
|
|
1 |
Rs.84.03 |
|
Euro |
1 |
Rs.70.72 |
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 |
|
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NB |
New Business |
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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.