|
Report Date : |
30.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
CHINTEX, S.R.O. |
|
|
|
|
Registered Office : |
Terezínská 1111 410 02 Lovosice |
|
|
|
|
Country : |
Czech Republic |
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|
|
|
Financials (as on) : |
31.12.2011 |
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|
|
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Date of Incorporation : |
30.06.2004 |
|
|
|
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Com. Reg. No.: |
C 20767 |
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|
|
|
Legal Form : |
Private Limited Company |
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|
|
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Line of Business : |
Wholesale and retail sale of plastics, plastic parts, packages, pressed folios, regranulates. |
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|
|
|
No. of Employees : |
6 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 |
|
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 |
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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
CHINTex, s.r.o.
Terezínská 1111
410 02 Lovosice
telephone: 00420/ 416 533 204
telefax: 00420/ 416 533 204
e-mail: sale@chintex.cz
Web: www.chintex.eu
|
Company development |
Constant business development |
|
|
Order situation |
Satisfactory course of business |
|
|
Terms of payment |
mostly within agreed terms, but partly also delayed |
|
|
Business connection |
Business connections are not denied |
|
|
Legal form |
Private limited company |
|
|
Foundation |
30/06/2004 - Private limited company |
|
Comp. Register |
30/06/2004, Krajský soud Ústí nad Labem, RegNr.:
C 20767 |
|
Share Capital |
30/06/2004 |
CZK |
200 000,- |
|
|
Shareholders |
Ing. Miroslav
Novotný (06.12.1960) |
CZK |
90 000,- |
|
|
|
Jiří
Schoř (06.09.1971) |
CZK |
90 000,- |
|
|
|
Petr Novotný (30.08.1971) |
CZK |
20 000,- |
|
|
Management |
Ing. Miroslav
Novotný (06.12.1960) |
|
|
Jiří
Schoř (06.09.1971) |
|
General Data |
Wholesale and
retail sale activities – plastics, plastic |
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Main activity: |
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Trade name(s) |
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Export: |
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General
contacts: |
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Address: |
|
|
Kardinála Trochty 522/16, 412 01
Litoměřice |
||
|
Staff |
2008 |
6 employees |
|
|
|
2009 |
7 employees |
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|
2010 |
7 employees |
|
|
2011 |
7 employees |
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|
2012 |
6 employees |
|
Annual Sales |
2007 |
actual sales |
CZK |
33 732 000,-
|
|
|
|
2008 |
actual sales |
CZK |
54 072 000,-
|
|
|
|
2009 |
actual sales |
CZK |
54 527 000,-
|
|
|
|
2010 |
actual sales |
CZK |
59 667 000,-
|
|
|
|
2011 |
actual sales |
CZK |
79 975 000,-
|
|
|
|
|
The final
accounts for the year 2012 are not available yet. |
|||||
|
Property |
Property of the shareholder: Business
premises |
|
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 company is a
holder of ISO 9001 certificate. |
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|
Other entrepreneurial
interests: |
|
|
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 |
11 383 000 |
10 958 000 |
10 279 000 |
9 718 000 |
|
r2 |
Receivables for subscriptions |
0 |
0 |
0 |
0 |
|
r3 |
Fixed assets |
1 523 000 |
2 397 000 |
2 861 000 |
5 481 000 |
|
r4 |
Intangible fixed assets |
0 |
0 |
0 |
0 |
|
r13 |
Tangible fixed assets |
1 523 000 |
2 397 000 |
2 861 000 |
5 481 000 |
|
r23 |
Long-term financial assets |
0 |
0 |
0 |
0 |
|
r31 |
Current assets |
9 694 000 |
8 494 000 |
7 367 000 |
4 206 000 |
|
r32 |
Inventory |
707 000 |
368 000 |
482 000 |
409 000 |
|
r39 |
Long-term receivables |
0 |
0 |
0 |
0 |
|
r48 |
Short-term receivables |
6 128 000 |
4 544 000 |
3 749 000 |
2 523 000 |
|
r58 |
Short-term financial assets |
2 859 000 |
3 582 000 |
3 136 000 |
1 274 000 |
|
r63 |
Accruals |
166 000 |
67 000 |
51 000 |
31 000 |
|
r67 |
TOTAL LIABILITIES |
11 383 000 |
10 958 000 |
10 279 000 |
9 718 000 |
|
r68 |
Equity |
127 000 |
-354 000 |
354 000 |
457 000 |
|
r69 |
Registered capital |
200 000 |
200 000 |
200 000 |
200 000 |
|
r73 |
Capital funds |
0 |
0 |
0 |
0 |
|
r78 |
Reserve funds, statutory reserve account for cooperatives, and other
retained earnings |
0 |
20 000 |
20 000 |
20 000 |
|
r81 |
Profit / loss - previous years |
-1 546 000 |
-93 000 |
-574 000 |
134 000 |
|
r84 |
Profit / loss - current year (+/-) |
1 473 000 |
-481 000 |
708 000 |
103 000 |
|
r85 |
Liabilities |
11 256 000 |
11 312 000 |
9 925 000 |
9 261 000 |
|
r86 |
Reserves |
0 |
0 |
0 |
0 |
|
r91 |
Long-term payables |
0 |
0 |
0 |
0 |
|
r102 |
Short-term payables |
7 494 000 |
7 395 000 |
5 584 000 |
5 677 000 |
|
r114 |
Bank loans and financial accommodations |
3 762 000 |
3 917 000 |
4 341 000 |
3 584 000 |
|
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 |
54 072 000 |
54 527 000 |
59 667 000 |
79 975 000 |
|
a2 |
Revenues from sold goods |
53 936 000
|
54 408 000
|
59 531 000
|
79 509 000
|
|
a3 |
Expenses on sold goods |
36 271 000
|
35 143 000
|
36 108 000
|
62 387 000
|
|
a4 |
Sale margin |
17 665 000 |
19 265 000 |
23 423 000 |
17 122 000 |
|
a5 |
Production |
136 000 |
119 000 |
136 000 |
466 000 |
|
a9 |
Production consumption |
14 199 000 |
15 441 000 |
18 046 000 |
12 665 000 |
|
a12 |
Added value |
3 602 000 |
3 943 000 |
5 513 000 |
4 923 000 |
|
a13 |
Personnel expenses |
1 856 000 |
2 424 000 |
2 302 000 |
2 591 000 |
|
a18 |
Taxes and fees |
35 000 |
32 000 |
64 000 |
24 000 |
|
a19 |
Depreciations of intangible and tangible assets |
215 000 |
799 000 |
1 613 000
|
2 303 000
|
|
a20 |
Revenues from disposals of fixed assets and materials |
252 000 |
0 |
0 |
210 000 |
|
a23 |
Net book value of disposed fixed assets and materials |
69 000 |
0 |
159 000 |
165 000 |
|
a26 |
Change in operating reserves and adjustments and complex deferred
costs ( + / - ) |
0 |
0 |
0 |
0 |
|
a27 |
Other operating revenues |
41 000 |
32 000 |
397 000 |
78 000 |
|
a28 |
Other operating expenses |
219 000 |
718 000 |
470 000 |
321 000 |
|
a29 |
Transfer of operating revenues |
0 |
|
0 |
0 |
|
a30 |
Transfer of operating expenses |
0 |
|
0 |
0 |
|
a31 |
Operating profit / loss |
1 501 000 |
2 000 |
1 302 000 |
-193 000 |
|
a32 |
Revenues from sales of securities and ownership interests |
0 |
|
0 |
0 |
|
a33 |
Sold securities and ownership interests |
0 |
|
0 |
0 |
|
a34 |
Revenues from long-term financial assets |
0 |
|
0 |
0 |
|
a38 |
Revenues from short-term financial assets |
0 |
|
0 |
0 |
|
a39 |
Expenses associated with financial assets |
0 |
|
0 |
0 |
|
a40 |
Revenues from revaluation of securities and derivatives |
0 |
|
0 |
0 |
|
a41 |
Cost of revaluation of securities and derivatives |
0 |
|
0 |
0 |
|
a42 |
Change in financial reserves and adjustments ( + / - ) |
0 |
|
0 |
0 |
|
a43 |
Interest revenues |
3 000 |
1 000 |
0 |
0 |
|
a44 |
Interest expenses |
84 000 |
156 000 |
161 000 |
204 000 |
|
a45 |
Other financial revenues |
1 533 000
|
1 799 000
|
1 159 000
|
1 486 000
|
|
a46 |
Other financial expenses |
1 435 000
|
2 111 000
|
1 436 000
|
910 000 |
|
a47 |
Transfer of financial revenues |
0 |
|
0 |
0 |
|
a48 |
Transfer of financial expenses |
0 |
|
0 |
0 |
|
a49 |
Profit / loss from financial operations ( transactions ) |
17 000 |
-467 000 |
-438 000 |
372 000 |
|
a50 |
Income tax on ordinary income |
45 000 |
34 000 |
242 000 |
76 000 |
|
a53 |
Operating profit / loss ordinary activity |
1 473 000 |
-499 000 |
622 000 |
103 000 |
|
a54 |
Extraordinary revenues |
0 |
18 000 |
86 000 |
0 |
|
a55 |
Extraordinary expenses |
0 |
|
0 |
0 |
|
a56 |
Income tax on extraordinary income |
0 |
|
0 |
0 |
|
a59 |
Operating profit / loss extraordinary activity |
0 |
18 000 |
86 000 |
0 |
|
a60 |
Transfer profit ( loss ) to partners (+/-) |
0 |
|
0 |
0 |
|
a61 |
Profit / loss of current accounting period (+/-) |
1 473 000 |
-481 000 |
708 000 |
103 000 |
|
a62 |
Profit / loss before tax (+/-) |
1 518 000 |
-447 000 |
950 000 |
179 000 |
|
|
Receivables after due date total |
2 439 000 |
3 014 000 |
1 601 000 |
299 000 |
|
|
Liabilities after due date total |
4 412 000 |
3 520 000 |
1 745 000 |
1 413 000 |
|
Balance indices |
|
31.12.2008 |
31.12.2009 |
31.12.2010 |
31.12.2011 |
|
Return on total assets ROA (in %) |
a62/r1 * 100 |
13,34 |
-4,08 |
9,24 |
1,84 |
|
Return on equity ROE (in %) |
a62/r68 * 100 |
1 195,28 |
126,27 |
268,36 |
39,17 |
|
Return on sales ROS (in %) |
a62/a1 * 100 |
2,81 |
-0,82 |
1,59 |
0,22 |
|
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 |
4,77 |
2,46 |
2,95 |
1,87 |
|
Net working capital (in ths. CZK) |
r31 - r102 - r116 - r117 |
2 200,00 |
1 099,00 |
1 783,00 |
-1 471,00 |
|
Ratio of accounts payable to accounts receivable (in %) |
(r39+r48) / (r91+r102) * 100 |
81,77 |
61,45 |
67,14 |
44,44 |
|
Ratio of profit/loss to tangible assets (in%) |
r3 / a1 * 100 |
2,82 |
4,40 |
4,79 |
6,85 |
|
Current ratio |
r31 / (r102+r116+r117) |
n/a |
n/a |
n/a |
n/a |
|
Quick ratio |
(r58+r48) / (r102+r116+r117) |
1,20 |
1,10 |
1,23 |
0,67 |
|
Cash ratio |
r58 / (r102+r116+r117) |
n/a |
n/a |
n/a |
n/a |
|
Debt ratio I (in %) |
(1-r68/r67) * 100 |
98,88 |
103,23 |
96,56 |
95,30 |
|
Debt ratio II (in %) |
r85/r67 * 100 |
98,88 |
103,23 |
96,56 |
95,30 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.56.24 |
|
|
1 |
Rs.84.54 |
|
Euro |
1 |
Rs.72.32 |
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.