MIRA INFORM REPORT

 

 

Report Date :

31.10.2013

 

IDENTIFICATION DETAILS

 

Name :

SOCIEDADE TEXTIL VITAL MARQUES RODRIGUES FILHOS LDA

 

 

Registered Office :

Rua Santo Amaro, 510 - Apartado 2062, Mascotelos Guimaraes

 

 

Country :

Portugal

 

 

Financials (as on) :

31.12.2012

 

 

Date of Incorporation :

31.12.1966

 

 

Com. Reg. No.:

500269106

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Textile, dyeing and finishing

 

 

No. of Employees :

41

 

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

SOCIEDADE TEXTIL VITAL MARQUES RODRIGUES FILHOS LDA

V.A.T. Number / NIF

500269106

Denomination

Vital Tecidos

Address

Rua Santo Amaro, 510 - Apartado 2062, Mascotelos

Locality

Guimaraes

Postal Code

4811-909-GUIMARAES

Municipality

GUIMARAES

District

BRAGA

Telephone

253523459, 253523099

Fax

253524137

E-Mail

geral@vitaltecidos.com

Web Site

www.vitaltecidos.com

 

 

C.A.E.(Rev 3)

13201- Weaving the type of cotton yarn

 

 

Summary

 

Legal Form

Private Limited Company

Constitution

31-12-1969

V.A.T. Number / NIF

500269106

Employees

41

Capital

250.000,00

Sales in : 31-12-2012

4.343.529,40

Shareholders Funds in: 31-12-2012

1.584.740,28

Payments

Good

Actual Condition

In activity

 

 

Financial Highlights

 

 

31-12-2009

 

31-12-2010

 

31-12-2012

Net Sales

2.036.103,16

2.623.487,92

4.343.529,40

Net Income For the Year

10.045,87

111.608,46

172.572,96

Shareholders Funds

802.057,27

949.692,97

1.584.740,28

Stocks

158.985,25

113.416,06

109.356,03

LIABILITY

1.602.364,25

1.713.429,78

2.021.629,90

ASSETS

2.404.421,52

2.663.122,75

3.606.370,18

 

 

Business Concept

 

 

Consulted sources say that the subject has been respecting its payments and commercial commitments.

 

All the amounts are express in Euros, otherwise you will be advised

 

 

 

Management Bodies

 

 

JOSE FILIPE RODRIGUES FARIA

Managing-Partner

ANTONIO JOSE DA CRUZ FARIA

Managing-Partner

SOFIA RAQUEL NEVES RODRIGUES

Managing-Partner

 

 

Legal Structure

 

 

Registed on the Register Record Office of Guimaraes with the Register Number 500269106 previous number 812 in 31-12-1969

Constitution celebrated in 31-12-1969 published on Diário da República number 50 of 28-02-1970

To oblige the company it is necessary 2 signature

 

Changes to Society

 

In 09-03-2009 on Portal MJ of 17-04-2009 manager change

In 06-03-2009 on Portal MJ of 17-04-2009 manager change

In 23-04-2008 on Portal MJ of 26-05-2008 manager change

In 19-12-2007 on Portal MJ of 24-07-2008 manager change

In 13-12-2001 on Diário da República number 139 of 19-06-2002 social change

 

 

Capital

 

 

The Capital is 250.000,00

 

 

with the following distribution

 

JOSE FILIPE RODRIGUES FARIA

32.500,00

13%

ANTONIO JOSE DA CRUZ FARIA

60.000,00

24%

SOFIA RAQUEL NEVES RODRIGUES

125.000,00

50%

ANTONIO PEDRO RODRIGUES FARIA

32.500,00

13%

 

 

Biographies

 

 

 

Name

JOSE FILIPE RODRIGUES FARIA

Funtion

Managing-Partner

Address

Rua Santo Amaro, n.º 706

Locality

Mascotelos

 

Name

ANTONIO JOSE DA CRUZ FARIA

Funtion

Managing-Partner

Address

Rua Santo Amaro, n.º 706

Locality

Mascotelos

Civil State

Married

Consort

Sofia Raquel Neves Rodrigues

Professional Connections

The subject has connections with the following company (ies)

 

MAFIMAPE-INDUSTRIA E COMERCIO TEXTIL LDA as Managing-Partner with a participation of 113.000,00 , in a capital of 226.000,00 .

 

Name

SOFIA RAQUEL NEVES RODRIGUES

Funtion

Managing-Partner

Address

Rua Santo Amaro, n.º 706

Locality

Mascotelos

Birth Date

02-09-1968

Naturality

Guimarães

Civil State

Married

Consort

António José da Cruz Faria

 

Name

ANTONIO PEDRO RODRIGUES FARIA

Funtion

Partner

 

 

Activities

 

 

Line of Business

Percentage

Textile, dyeing and finishing

100%

 

 

Type of Clients

Private Companies

 

 

Sales Conditions

Cash/credit

 

 

Sales Area

 

 

 

Country

54,75%

Foreign

45,25%

Imports

23,66%

from

ITALIA,ESLOVENIA,FRANÇA,ALEMANHA

Exports

45,25%

to

ESPANHA,FRANÇA,ITALIA,ALEMANHA,GRECIA

 

Trade Marks

 

Sanitized

Actigard

Actifresh

HealthGuard

 

 

Denominations

 

 

Vital Tecidos

 

 

Banks and Financial Institutions

 

 

BANCO ESPIRITO SANTO, SA

Guimarães

BANCO SANTANDER TOTTA SA

Guimarães

BANCO BILBAO VIZCAYA ARGENTARIA (PORTUGAL), SA

Guimarães

BANCO BPI, SA

Guimarães

MILLENNIUM BCP

Guimarães

CAIXA GERAL DE DEPOSITOS, SA

Guimarães

 

 

Incidents

 

 

There are no of incidents on our database

 

 

Employees

 

 

Total

41

 

 

Insurance

 

 

Tranquilidade Seguros SA

 

 

Head Office and Installations

 

 

Head office, warehouse and factory owned Rua Santo Amaro, 510 - Apartado 2062, Mascotelos, Guimaraes, 4811-909, GUIMARAES, Tel:253523459, Fax:253524137

 

 

Financial Demonstration SNC

 

Balance Sheet SNC

CoinEURO

 

Date31-12-2012

 

 

Closing Date

31-12-2012

--

31-12-2010

Variação (%)

 

ASSET

 

 

 

 

 

Non-current assets

 

Tangible fixed assets

1.114.458,92

 

850.401,20

 

Intangible assets

38.487,03

 

 

 

Other financial assets

12.200,00

 

9.200,00

 

Total

1.165.145,95

 

859.601,20

 

 

 

 

 

 

Current assets

 

 

Inventories

109.356,03

 

113.416,06

 

Costumers

1.421.313,21

 

832.742,99

 

State and other public entities

10.182,06

 

 

 

Deferrals

 

 

709,68

 

Cashier and bank deposits

900.372,93

 

856.652,82

 

Total

2.441.224,23

 

1.803.521,55

 

TOTAL ASSET

3.606.370,18

 

2.663.122,75

 

 

 

 

 

 

SHAREHOLDERS FUNDS AND LIABILITIES

 

 

 

 

 

 

 

SHAREHOLDERS FUNDS

 

 

Capital

250.000,00

 

250.000,00

 

Other shareholders funds instruments

11.971,14

 

11.971,14

 

Other reserves

543.133,44

 

303.550,20

 

Revaluation surplus

236.535,93

 

236.535,93

 

Other shareholders funds changes

370.526,81

 

36.027,24

 

Total

1.412.167,32

 

838.084,51

 

Net income for the period

172.572,96

 

111.608,46

 

TOTAL OF SHAREHOLDERS FUNDS

1.584.740,28

 

949.692,97

 

 

 

 

 

 

LIABILITY

 

 

 

 

 

 

 

Non-current liiabilities

 

 

Financing obtained

345.454,55

 

638.159,27

 

Other payable accounts

 

 

18.136,29

 

Total

345.454,55

 

656.295,56

 

 

 

 

 

 

Current liabilities

 

 

Suppliers

1.288.484,72

 

629.603,56

 

State and other public entities

 

 

87.484,46

 

Financing obtained

242.167,84

 

250.259,58

 

Other payable accounts

134.565,08

 

89.786,62

 

Deferrals

10.957,71

 

 

 

Total

1.676.175,35

 

1.057.134,22

 

TOTAL LIABILITIES

2.021.629,90

 

1.713.429,78

 

TOTAL SHAREHOLDERS FUNDS AND LIABILITIES

3.606.370,18

 

2.663.122,75

 

 

 

 

 

 

INCOME STATEMENT

 

 

 

 

 

 

 

INCOME AND EXPENSES

 

 

Sales and services

4.343.529,40

 

2.623.487,92

 

Operating government grants

30.318,14

 

1.914,58

 

Variation in production inventories

(28.293,25)

 

(35.569,72)

 

Cost of goods sold and materials consumed

2.631.048,97

 

1.323.603,57

 

Suppliers and external services

784.474,09

 

426.032,14

 

Personnel costs

660.733,92

 

530.276,43

 

Impairment of receivables (losses/revearsals)

 

 

74.876,38

 

Other income and gains

107.766,86

 

54.383,25

 

Other expenses and losses

14.965,78

 

24.994,11

 

Result before depreciation, financing costs and taxes

362.098,39

 

264.433,40

 

Expenses/reversals of depreciation and amortization

128.965,65

 

98.357,96

 

Operating result (before financing costs and taxes)

233.132,74

 

166.075,44

 

Interest and similar income obtained

17.294,65

 

 

 

interest and similar expenses incurred

15.721,10

 

15.394,03

 

Net before taxes

234.706,29

 

150.681,41

 

Income tax of the period

62.133,33

 

39.072,95

 

Net profit for the period

172.572,96

 

111.608,46

 

 

 

RATIOS SNC

 

 

Closing Date

31-12-2012

--

31-12-2010

 

 

TURNOVER RATIOS

 

Shareholder's Funds Profitability

0,109

 

0,118

 

Assets Profitability

0,065

 

0,062

 

Sales Net Profitability

0,04

 

0,043

 

 

 

 

 

 

EFFICIENCY RATIOS

 

 

Medium Term Receivable

119,437

 

115,858

 

Asset Rotation

1,204

 

0,985

 

 

 

 

 

 

PRODUCTIVITY RATIOS

 

 

Productivity

2,592

 

2,451

 

 

 

 

 

 

SHORT TERM RATIOS

 

 

General Liquidity

1,456

 

1,706

 

Reduced Liquidity

1,391

 

1,599

 

Immediate Liquidity

0,537

 

0,81

 

 

 

 

 

 

MEDIUM LONG TERM RATIOS

 

 

Financial Autonomy

0,439

 

0,357

 

Solvability

0,784

 

0,554

 

Borrowed Capital Structure

0,829

 

0,617

 

General Debt

0,371

 

0,935

 

Medium Long Term Debt

0,218

 

0,672

 

Debt Structure

0,829

 

0,617

 

Capital Structure

4,587

 

1,447

 

 

 

 

 

 

Operational and Financial Risk

 

 

Operational Leverage Level

7,346

 

7,827

 

Financial Leverage Level

0,993

 

1,102

 

Combined Leverage Level

7,295

 

8,625

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.49

UK Pound

1

Rs.98.71

Euro

1

Rs.84.49

 

 

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.