MIRA
INFORM REPORT
|
Report Date : |
21.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
MATEMA-TEXTEIS LDA |
|
|
|
|
Registered Office : |
Rua da Alegria, 1988 - Sala 3 |
|
|
|
|
Country : |
Portugal |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
25.02.1991 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Wholesale trade of textiles |
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
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) |
|
Portugal |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
portugal - ECONOMIC OVERVIEW
Portugal has become a diversified and increasingly
service-based economy since joining the European Community - the EU's
predecessor - in 1986. Over the following two decades, successive governments
privatized many state-controlled firms and liberalized key areas of the
economy, including the financial and telecommunications sectors. The country
qualified for the Economic and Monetary Union (EMU) in 1998 and began
circulating the euro on 1 January 2002 along with 11 other EU members. The
economy grew by more than the EU average for much of the 1990s, but the rate of
growth slowed in 2001-08. The economy contracted 2.5% in 2009, before growing
1.4% in 2010, but GDP fell again in 2011 and 2012, as the government began
implementing spending cuts and tax increases to comply with conditions of an
EU-IMF financial rescue package, agreed to in May 2011. GDP per capita stands
at roughly two-thirds of the EU-27 average. Portugal also has been increasingly
overshadowed by lower-cost producers in Central Europe and Asia as a
destination for foreign direct investment, in part because its rigid labor
market hindered greater productivity and growth. However, the government of
Pedro PASSOS COELHO has enacted several measures to introduce more flexibility
into the labor market, and, this, along with steps to reduce high levels of
public debt, could make Portugal more attractive to foreign investors. The
government reduced the budget deficit from 10.1% of GDP in 2009 to 4.5% in
2011, an achievement made possible only by the extraordinary revenues obtained
from the one-time transfer of bank pension funds to the social security system.
The budget deficit worsened in 2012 as a sharp reduction in domestic
consumption took a bigger bite out of value-added tax revenues while rising
unemployment benefits increased expenditures more than anticipated. Poor growth
prospects over the next year have reinforced investors' concerns about the
government's ability to achieve its budget deficit targets and regain full
access to bond market financing when the EU-IMF financing program expires in
2013.
|
Source
: CIA |
Identification
|
Name |
MATEMA-TEXTEIS LDA |
|
IIC Number |
633796 |
|
V.A.T. Number / NIF |
502620838 |
|
Address |
Rua da Alegria, 1988 - Sala 3 |
|
Locality |
Porto |
|
Postal Code |
4200-024-PORTO |
|
Municipality |
PORTO |
|
District |
PORTO |
|
Telephone |
225573050 |
|
Fax |
225573059 |
|
E-Mail |
matema@matema.pt |
|
|
|
|
C.A.E.(Rev 3) |
46410- Wholesale trade of
textiles |
|
Actual Condition |
|
Payments |
|
Incidents |
Summary
|
Legal Form |
Private Limited Company |
|
Constitution |
25-02-1991 |
|
V.A.T. Number / NIF |
502620838 |
|
Capital |
750.000,00 |
|
Sales in : 31-12-2012 |
7.133.906,81 |
|
Shareholders Funds in:
31-12-2012 |
1.822.607,42 |
|
Payments |
Good |
|
Actual Condition |
In activity |
Financial Highlights
|
|
31-12-2010 |
|
31-12-2011 |
|
31-12-2012 |
|
Net Sales |
7.941.953,52 |
|
8.217.146,21 |
|
7.133.906,81 |
|
Net Income For the Year |
281.426,63 |
|
193.901,21 |
|
145.104,74 |
|
Shareholders Funds |
1.562.981,42 |
|
1.677.502,68 |
|
1.822.607,42 |
|
Stocks |
860.569,77 |
|
662.541,49 |
|
870.694,99 |
|
LIABILITY |
3.498.092,22 |
|
2.877.261,12 |
|
3.128.222,90 |
|
ASSETS |
5.061.073,64 |
|
4.554.763,80 |
|
4.950.830,32 |
Business Concept
Consulted sources say that the
subject has been respecting its payments and commercial commitments, so credit
connections with this company are recommended.
|
All the amounts are
express in Euros, otherwise you will be advised |
Management Bodies
|
JOAO CARLOS FRAZAO CORREIA DA
SILVA |
Managing-Partner |
|
MARIA ROSALIA FRAZAO CORREIA
DA SILVA MORAIS |
Managing-Partner |
|
PEDRO MANUEL FRAZAO CORREIA
DA SILVA |
Managing-Partner |
Legal Structure
|
Registed on the Register Record
Office of Porto in 2ª. Secçăo with the Register Number 502620838 previous
number 48272 in 27-09-1991 |
|
Constitution celebrated in
25-02-1991 |
|
To oblige the company it is
necessary 1 signatures |
|
Changes to Society |
|
In 28-12-2006 on Portal MJ of
16-01-2007 increase of capital |
Capital
|
The Capital is 750.000,00 |
|
|
with the following
distribution |
|
JOAO CARLOS FRAZAO CORREIA DA
SILVA |
165.000,00 |
22% |
|
MARIA ROSALIA FRAZAO CORREIA
DA SILVA MORAIS |
281.250,00 |
37,5% |
|
PEDRO MANUEL FRAZAO CORREIA
DA SILVA |
303.750,00 |
40,5% |
Biographies
|
|
|
|
Name |
JOAO CARLOS FRAZAO CORREIA DA
SILVA |
|
Funtion |
Managing-Partner |
|
Address |
Rua da Alegria, 1970 -
Habitaçăo 5.1 |
|
Locality |
Porto |
|
Civil State |
Unmarried |
|
|
|
|
Name |
MARIA ROSALIA FRAZAO CORREIA
DA SILVA MORAIS |
|
Funtion |
Managing-Partner |
|
Address |
Rua Ciríaco Cardoso, 265-H -
4º Esq. |
|
Locality |
Porto |
|
Civil State |
Married |
|
Consort |
José Dinis Campos Morais |
|
|
|
|
Name |
PEDRO MANUEL FRAZAO CORREIA
DA SILVA |
|
Funtion |
Managing-Partner |
|
Address |
Rua César das Neves, 98 - 2.1 |
|
Locality |
Porto |
|
Civil State |
Married |
|
Consort |
Maria Luisa Torres Vaz
Correia da Silva |
Activities
|
Line of Business |
Percentage |
|
Wholesale trade of textiles |
100% |
|
Type of Clients |
Retailers/Wholesalers |
|
|
|
Sales Conditions |
Cash/credit |
|
|
|
Sales Area |
|
|
|
|
District |
100% |
|
|
Banks and Financial Institutions
|
MILLENNIUM BCP |
Empresas Porto I |
Incidents
There are no of incidents on
our database
Head Office and Installations
Head office and installations Rua
da Alegria, 1988 - Sala 3 , Porto, 4200-024, PORTO, Tel:225573050,
Fax:225573059
Financial Demonstration SNC
|
Balance Sheet SNC |
||
|
CoinEURO |
|
Date31-12-2012 |
|
|
||
|
Closing Date |
31-12-2012 |
31-12-2011 |
31-12-2010 |
Variaçăo (%) |
|
|
|
|||
|
ASSET |
|
|||
|
|
|
|
|
|
|
Non-current assets |
|
|||
|
Tangible fixed assets |
565.426,97 |
577.639,80 |
543.750,35 |
(2,11) |
|
Intangible assets |
4.417,93 |
3.517,53 |
1.184,19 |
25,60 |
|
Financial participations -
other methods |
5.379,76 |
5.379,76 |
5.379,76 |
|
|
Deferred tax assets |
6.138,88 |
11.232,65 |
|
(45,35) |
|
Total |
581.363,54 |
597.769,74 |
550.314,30 |
(2,74) |
|
|
|
|
|
|
|
Current assets |
|
|
||
|
Inventories |
870.694,99 |
662.541,49 |
860.569,77 |
31,42 |
|
Costumers |
3.189.060,01 |
3.072.101,87 |
3.309.540,27 |
3,81 |
|
Advances to suppliers |
|
|
81.250,89 |
|
|
State and other public
entities |
56.304,89 |
2.428,29 |
|
2.218,71 |
|
Other accounts receivable |
99.760,74 |
67.681,86 |
27.140,55 |
47,40 |
|
Deferrals |
4.833,70 |
6.418,48 |
12.713,58 |
(24,69) |
|
Cashier and bank deposits |
148.812,45 |
145.822,07 |
219.544,28 |
2,05 |
|
Total |
4.369.466,78 |
3.956.994,06 |
4.510.759,34 |
10,42 |
|
TOTAL ASSET |
4.950.830,32 |
4.554.763,80 |
5.061.073,64 |
8,70 |
|
|
|
|
|
|
|
SHAREHOLDERS FUNDS AND
LIABILITIES |
|
|
||
|
|
|
|
|
|
|
SHAREHOLDERS FUNDS |
|
|
||
|
Capital |
750.000,00 |
750.000,00 |
750.000,00 |
|
|
Legal reserves |
104.821,28 |
81.054,89 |
81.054,89 |
29,32 |
|
Other reserves |
373.856,96 |
373.856,96 |
373.856,96 |
|
|
Net retained |
448.824,44 |
278.689,62 |
76.642,94 |
61,05 |
|
Total |
1.677.502,68 |
1.483.601,47 |
1.281.554,79 |
13,07 |
|
Net income for the period |
145.104,74 |
193.901,21 |
281.426,63 |
(25,17) |
|
TOTAL OF SHAREHOLDERS
FUNDS |
1.822.607,42 |
1.677.502,68 |
1.562.981,42 |
8,65 |
|
|
|
|
|
|
|
LIABILITY |
|
|
||
|
|
|
|
|
|
|
Non-current liiabilities |
|
|
||
|
Financing obtained |
265.955,42 |
344.563,79 |
581.351,61 |
(22,81) |
|
Diferred taxes liabilities
|
|
|
2.323,51 |
|
|
Total |
265.955,42 |
344.563,79 |
583.675,12 |
(22,81) |
|
|
|
|
|
|
|
Current liabilities |
|
|
||
|
Suppliers |
1.229.185,78 |
1.099.533,19 |
1.550.417,51 |
11,79 |
|
Advances from costumers |
|
|
6.911,92 |
|
|
State and other public
entities |
100.477,48 |
94.449,00 |
164.211,51 |
6,38 |
|
Financing obtained |
1.463.220,41 |
1.257.444,89 |
1.125.185,05 |
16,36 |
|
Other payable accounts |
69.383,81 |
81.270,25 |
67.691,11 |
(14,63) |
|
Total |
2.862.267,48 |
2.532.697,33 |
2.914.417,10 |
13,01 |
|
TOTAL LIABILITIES |
3.128.222,90 |
2.877.261,12 |
3.498.092,22 |
8,72 |
|
TOTAL SHAREHOLDERS FUNDS
AND LIABILITIES |
4.950.830,32 |
4.554.763,80 |
5.061.073,64 |
8,70 |
|
|
|
|
|
|
|
INCOME STATEMENT |
|
|
||
|
|
|
|
|
|
|
INCOME AND EXPENSES |
|
|
||
|
Sales and services |
7.133.906,81 |
8.217.146,21 |
7.941.953,52 |
(13,18) |
|
Operating government
grants |
6.532,51 |
|
|
|
|
Cost of goods sold and materials
consumed |
6.033.148,27 |
6.962.394,94 |
6.536.521,75 |
(13,35) |
|
Suppliers and external
services |
177.386,21 |
176.138,81 |
207.307,63 |
0,71 |
|
Personnel costs |
345.745,22 |
329.980,43 |
317.736,92 |
4,78 |
|
Impairment of receivables (losses/revearsals)
|
106.918,90 |
87.454,87 |
163.121,14 |
22,26 |
|
Other income and gains |
46.972,07 |
58.307,92 |
85.152,33 |
(19,44) |
|
Other expenses and losses |
101.896,94 |
172.182,43 |
100.005,92 |
(40,82) |
|
Result before depreciation,
financing costs and taxes |
422.315,85 |
547.302,65 |
702.412,49 |
(22,84) |
|
Expenses/reversals of
depreciation and amortization |
64.255,91 |
62.259,06 |
68.117,15 |
3,21 |
|
Operating result (before
financing costs and taxes) |
358.059,94 |
485.043,59 |
634.295,34 |
(26,18) |
|
interest and similar
expenses incurred |
192.047,48 |
209.412,03 |
233.949,49 |
(8,29) |
|
Net before taxes |
166.012,46 |
275.631,56 |
400.345,85 |
(39,77) |
|
Income tax of the period |
20.907,72 |
81.730,35 |
118.919,22 |
(74,42) |
|
Net profit for the period |
145.104,74 |
193.901,21 |
281.426,63 |
(25,17) |
|
RATIOS SNC |
|
Closing Date |
31-12-2012 |
31-12-2011 |
31-12-2010 |
|
|
TURNOVER RATIOS |
|
|||
|
Shareholder's Funds
Profitability |
0,08 |
0,116 |
0,18 |
|
|
Assets Profitability |
0,072 |
0,106 |
0,125 |
|
|
Sales Net Profitability |
0,02 |
0,024 |
0,035 |
|
|
|
|
|
|
|
|
EFFICIENCY RATIOS |
|
|
||
|
Medium Term Receivable |
163,165 |
136,46 |
152,101 |
|
|
Asset Rotation |
1,441 |
1,804 |
1,569 |
|
|
|
|
|
|
|
|
PRODUCTIVITY RATIOS |
|
|
||
|
Productivity |
3,184 |
3,803 |
4,423 |
|
|
|
|
|
|
|
|
SHORT TERM RATIOS |
|
|
||
|
General Liquidity |
1,527 |
1,562 |
1,548 |
|
|
Reduced Liquidity |
1,222 |
1,301 |
1,252 |
|
|
Immediate Liquidity |
0,052 |
0,058 |
0,075 |
|
|
|
|
|
|
|
|
MEDIUM LONG TERM RATIOS |
|
|
||
|
Financial Autonomy |
0,368 |
0,368 |
0,309 |
|
|
Solvability |
0,583 |
0,583 |
0,447 |
|
|
Borrowed Capital Structure
|
0,915 |
0,88 |
0,833 |
|
|
General Debt |
0,949 |
0,955 |
1,092 |
|
|
Medium Long Term Debt |
0,146 |
0,205 |
0,372 |
|
|
Debt Structure |
0,915 |
0,88 |
0,833 |
|
|
Capital Structure |
6,853 |
4,868 |
2,678 |
|
|
|
|
|
|
|
|
Operational and Financial
Risk |
|
|
||
|
Operational Leverage Level
|
3,074 |
2,587 |
2,216 |
|
|
Financial Leverage Level |
2,157 |
1,76 |
1,584 |
|
|
Combined Leverage Level |
6,631 |
4,553 |
3,51 |
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.56 |
|
|
1 |
Rs.100.77 |
|
Euro |
1 |
Rs.84.71 |
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.