MIRA INFORM REPORT
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Report Date : |
04.09.2013 |
IDENTIFICATION DETAILS
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Name : |
R.T International |
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Registered Office : |
19, Rue Littre, Lyon, 69009 |
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Country : |
France |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
15.01.1973 |
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Com. Reg. No.: |
780054334 |
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Legal Form : |
Public Independent Company |
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Line of Business : |
dressing and dyeing of
furskins and hides with the hair on scraping, currying, tanning, bleaching, shearing
and plucking and dyeing of furskins manufacturer of
articles made of furskins on fur wearing apparel and clothing accessories,
assemblies of furskins such as “dropped furskins, plates, mats, strips and
diverse articles of furskins: rugs, unstuffed pouffes, industrial polishing
cloths |
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No. of Employees : |
47 |
RATING & COMMENTS
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MIRAs Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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) |
|
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
The French economy is diversified across all sectors. The government
has partially or fully privatized many large companies, including Air France,
France Telecom, Renault, and Thales. However, the government maintains a strong
presence in some sectors, particularly power, public transport, and defense
industries. With at least 79 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, before stagnating in 2012. The unemployment rate increased from
7.4% in 2008 to 10.3% in 2012. Youth unemployment shot up to 24.2% during the
third quarter of 2012 in metropolitan France. Lower-than-expected growth and
high unemployment costs have strained France's public finances. The budget
deficit rose sharply from 3.4% of GDP in 2008 to 7.5% of GDP in 2009 before
improving to 4.5% of GDP in 2012, while France's public debt rose from 68% of
GDP to 89% over the same period. Under President SARKOZY, Paris implemented
some austerity measures 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. Socialist Party
candidate Francois HOLLANDE won the May 2012 presidential election, after
advocating pro-growth economic policies, the separation of banks' traditional
deposit taking and lending activities from more speculative businesses,
increasing the top corporate and personal tax rates, and hiring an additional
60,000 teachers during his five-year term. The government's attempt to
introduce a 75% wealth tax on income over one million euros for two years was
struck down by the French Constitutional Council in December 2012 because it
applied to individuals rather than households. France ratified the EU fiscal
stability treaty in October 2012 and HOLLANDE's government has maintained
France's commitment to meeting the budget deficit target of 3% of GDP during
2013 even amid signs that economic growth will be lower than the government's
forecast of 0.8%. Despite stagnant growth and fiscal challenges, France's
borrowing costs declined during the second half of 2012 to euro-era lows.
|
Source : CIA |
Company name & address
R.T International
19, Rue Littre
Lyon, 69009
France
Tel: +33
04 37 64 20 20
Fax: +33
04 37 64 20 21
Synthesis
Employees:
47
Company Type:
Public Independent
Incorporation Date: 15-Jan-1973
Financials in: USD
(Millions)
Fiscal Year End:
31-Mar-2012
Reporting Currency:
Euro
Annual Sales:
22.0
Total Assets:
14.3
Business Description
R.T International
is primarily engaged in dressing and dyeing of furskins and hides with the hair
on: scraping, currying, tanning, bleaching, shearing and plucking and dyeing of
furskins; and manufacture of articles made of furskins: fur wearing apparel and
clothing accessories, assemblies of furskins such as “dropped furskins, plates, mats, strips and
diverse articles of furskins: rugs, unstuffed pouffes, industrial polishing
cloths. This class also includes: manufacture of artificial fur and articles
thereof.
Industry
Industry Clothing and
Apparel Manufacturing
ANZSIC 2006:
1320 - Leather Tanning, Fur Dressing and Leather Product Manufacturing
ISIC Rev 4:
1511 - Tanning and dressing of leather; dressing and dyeing of fur
NACE Rev 2:
1511 - Tanning and dressing of leather; dressing and dyeing of fur
NAICS 2012:
316110 - Leather and Hide Tanning and Finishing
UK SIC 2007:
1511 - Tanning and dressing of leather; dressing and dyeing of fur
US SIC 1987:
2371 - Fur Goods
Key Executives
|
Name |
Title |
|
Michel Anav |
Personnel director, President |
|
Cynthia Anav |
General manager |
|
Eddy Anav |
Director, General manager |
|
Jean-Marc Guironnet |
Director |
1 - Profit & Loss Item Exchange Rate: USD 1 =
EUR 0.7269425
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR
0.7534632
Corporate Overview
Location
19, Rue Littre
Lyon, 69009
France
Tel: +33
04 37 64 20 20
Fax: +33
04 37 64 20 21
Sales EUR(mil): 16.0
Assets EUR(mil): 10.7
Employees: 47
Fiscal Year End: 31-Mar-2012
Industry: Apparel
and Accessories
Incorporation Date: 15-Jan-1973
Company Type: Public
Independent
Quoted Status: Not
Quoted
Registered No.(FRA): 780054334
Personnel director,
President: Michel
Anav
Industry Codes
ANZSIC 2006 Codes:
1320 - Leather Tanning, Fur Dressing and
Leather Product Manufacturing
ISIC Rev 4 Codes:
1511 - Tanning and dressing of leather;
dressing and dyeing of fur
NACE Rev 2 Codes:
1511 - Tanning and dressing of leather;
dressing and dyeing of fur
NAICS 2012 Codes:
316110 - Leather and Hide Tanning and Finishing
US SIC 1987:
2371 - Fur Goods
UK SIC 2007:
1511 - Tanning and dressing of leather;
dressing and dyeing of fur
Business Description
R.T International is primarily engaged in dressing
and dyeing of furskins and hides with the hair on: scraping, currying, tanning,
bleaching, shearing and plucking and dyeing of furskins; and manufacture of
articles made of furskins: fur wearing apparel and clothing accessories, assemblies
of furskins such as “dropped” furskins, plates, mats, strips, etc., and
diverse articles of furskins: rugs, unstuffed pouffes, industrial polishing
cloths. This class also includes: manufacture of artificial fur and articles
thereof.
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Executive report
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Executives |
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Personnel director, President |
President |
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General manager |
Administration Executive |
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Director, General manager |
Administration Executive |
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Director |
Administration Executive |
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Annual Profit & Loss
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|
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
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Period Length |
12 Months |
12 Months |
12 Months |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate (Period
Average) |
0.726943 |
0.757168 |
0.70861 |
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Consolidated |
No |
No |
No |
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Total income |
22.5 |
21.5 |
18.0 |
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Net sales |
22.0 |
21.2 |
17.6 |
|
Change in stock |
-0.4 |
-1.9 |
-0.5 |
|
Subsidies for operating costs |
0.0 |
0.0 |
0.0 |
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Supplementary operating income |
0.4 |
0.3 |
0.3 |
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Other operating income |
0.1 |
0.0 |
0.0 |
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Other external charges |
5.7 |
5.8 |
4.1 |
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Cost of goods sold |
10.9 |
12.5 |
9.3 |
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Taxes and social security costs |
1.0 |
1.0 |
0.8 |
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Social charges |
1.4 |
1.3 |
1.2 |
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Total payroll costs |
2.8 |
2.8 |
2.4 |
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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 |
0.3 |
0.3 |
0.2 |
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Other operating costs |
0.3 |
0.2 |
0.2 |
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Total operating costs |
22.0 |
22.0 |
17.7 |
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Net operating income |
0.5 |
-0.5 |
0.2 |
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Joint venture results |
0.0 |
0.0 |
0.1 |
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Total financial income |
0.1 |
1.1 |
0.4 |
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Interest payable on loans |
0.3 |
0.2 |
0.1 |
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Other expenses |
0.2 |
0.4 |
0.3 |
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Total expenses |
0.5 |
0.6 |
0.4 |
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Profit before tax |
0.2 |
0.0 |
0.1 |
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Extraordinary income |
0.4 |
- |
0.0 |
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Extraordinary expenses |
0.5 |
0.0 |
0.0 |
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Extraordinary result |
0.0 |
0.0 |
0.0 |
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Total taxation |
0.0 |
0.0 |
-0.3 |
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Net profit |
0.1 |
0.0 |
0.3 |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.753463 |
0.704672 |
0.739044 |
|
Consolidated |
No |
No |
No |
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Issued capital |
1.5 |
1.6 |
1.5 |
|
Share premium account |
2.6 |
2.8 |
2.6 |
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Total reserves |
1.5 |
1.6 |
1.6 |
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Profits for the year |
0.1 |
0.0 |
0.3 |
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Total stockholders equity |
5.7 |
6.0 |
6.1 |
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Provisions and allowances |
0.0 |
0.0 |
0.0 |
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Trade creditors |
1.4 |
1.7 |
1.6 |
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Bank loans and overdrafts |
4.1 |
4.8 |
1.2 |
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Current bank debts |
2.0 |
2.0 |
0.4 |
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Other loans |
0.6 |
0.7 |
0.4 |
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Other liabilities |
1.1 |
1.1 |
0.4 |
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Taxation and social security |
1.4 |
1.3 |
1.4 |
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Total current liabilities |
6.8 |
7.1 |
4.7 |
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Total debts |
8.6 |
9.5 |
5.1 |
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Regularisation account |
0.0 |
0.0 |
0.0 |
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Total liabilities (including net worth) |
14.3 |
15.5 |
11.2 |
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Patents |
0.0 |
- |
- |
|
Goodwill |
0.9 |
1.2 |
1.1 |
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Other intangibles |
0.0 |
0.0 |
0.0 |
|
Buildings |
1.3 |
1.7 |
0.9 |
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Other fixed assets |
0.3 |
0.3 |
0.3 |
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Long-term investments |
0.0 |
0.0 |
0.0 |
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Other financial assets |
0.2 |
0.2 |
0.0 |
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Total non-current assets |
2.8 |
3.5 |
2.3 |
|
Net stocks and work in progress |
5.7 |
5.7 |
3.5 |
|
Trade debtors |
3.1 |
3.7 |
3.8 |
|
Other receivables |
1.3 |
1.4 |
0.9 |
|
Prepaid expenses |
0.1 |
0.1 |
0.1 |
|
Cash and liquid assets |
1.3 |
1.1 |
0.6 |
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Total current assets |
11.5 |
12.0 |
8.9 |
|
Prepaid expenses and deferred costs |
0.0 |
0.0 |
0.0 |
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Total assets |
14.3 |
15.5 |
11.2 |
Annual Ratios
Financials in: USD (mil)
|
|
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
|
Period Length |
12 Months |
12 Months |
12 Months |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.753463 |
0.704672 |
0.739044 |
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Consolidated |
No |
No |
No |
|
|
|
|
|
|
Current ratio |
1.70 |
1.70 |
1.90 |
|
Quick ratio |
0.90 |
0.90 |
1.10 |
|
Total liabilities to net worth |
1.79% |
2.00% |
1.03% |
|
Net worth to total assets |
0.33% |
0.31% |
0.44% |
|
Collection period |
44.50 |
49.80 |
68.00 |
|
Stock turnover rate |
3.70 |
4.00 |
4.90 |
|
Asset turnover |
1.49% |
1.47% |
1.51% |
|
Profit margin |
0.01% |
0.00% |
0.00% |
|
Return on assets |
0.01% |
0.00% |
0.01% |
|
Shareholders' return |
0.04% |
0.00% |
0.01% |
|
Sales per employee |
2,231.14 |
2,147.32 |
2,214.79 |
|
Profit per employee |
20.51 |
1.79 |
9.11 |
|
Average wage per employee |
288.74 |
286.96 |
302.71 |
|
Net worth |
5.7 |
6.0 |
6.1 |
|
Number of employees |
47 |
49 |
37 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.89 |
|
UK Pound |
1 |
Rs.103.95 |
|
Euro |
1 |
Rs.88.09 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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
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.