MIRA INFORM REPORT
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Report Date : |
21.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
RUBBER RESOURCES
B.V. |
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Registered Office : |
Schoenerweg 36, 6222NX Maastricht |
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Country : |
Netherlands |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
22.08.1995 |
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Com. Reg. No.: |
14633389 |
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Legal Form : |
Private Company |
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Line of Business : |
Recycling of rubber to raw materials for rubber industry and
holdings gebonden activities of the group operating companies. |
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No. of Employees : |
79 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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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 : |
No complaints |
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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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Netherlands |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
NETHERLANDS - ECONOMIC OVERVIEW
The Dutch economy is the
sixth-largest economy in the euro-zone and is noted for its stable industrial
relations, moderate unemployment and inflation, a sizable trade surplus, and an
important role as a European transportation hub. Industrial activity is
predominantly in food processing, chemicals, petroleum refining, and electrical
machinery. A highly mechanized agricultural sector employs only 2% of the labor
force but provides large surpluses for the food-processing industry and for exports.
The Netherlands, along with 11 of its EU partners, began circulating the euro
currency on 1 January 2002. After 26 years of uninterrupted economic growth,
the Dutch economy - highly dependent on an international financial sector and
international trade - contracted by 3.5% in 2009 as a result of the global
financial crisis. The Dutch financial sector suffered, due in part to the high
exposure of some Dutch banks to U.S. mortgage-backed securities. In 2008, the
government nationalized two banks and injected billions of dollars of capital
into other financial institutions, to prevent further deterioration of a
crucial sector. The government also sought to boost the domestic economy by
accelerating infrastructure programs, offering corporate tax breaks for
employers to retain workers, and expanding export credit facilities. The
stimulus programs and bank bailouts, however, resulted in a government budget
deficit of 5.3% of GDP in 2010 that contrasted sharply with a surplus of 0.7%
in 2008. The government of Prime Minister Mark RUTTE began implementing fiscal
consolidation measures in early 2011, mainly reductions in expenditures, which
resulted in an improved budget deficit in 2011. In 2012-13 tax revenues
dropped, GDP contracted, and the budget deficit deteriorated. Although jobless
claims continued to grow, the unemployment rate remained relatively low at 6.8
percent.
|
Source
: CIA |
Summary
Company name RUBBER
RESOURCES B.V.
Operative address Schoenerweg
36
6222NX Maastricht
Netherlands
Legal form Private
Company
Registration number KvK-nummer:
14633389
VAT-number 804042962
Year 2012
Mutation 2011 Mutation
2010
Fixed assets 3.362.828
-4,01 3.503.425 88.819,42
3.940
Total receivables 3.489.575
-23,15 4.540.507 129.740,06
3.497
Total equity 4.784.873 9,75 4.359.765
99.871,68 4.361
Short term liabilities 6.877.383
-3,26 7.109.061 131.111,90
5.418
Net result
425.108 1.073,39 36.229 12.435,99 289
Working capital 1.743.348
20,10 1.451.610 124.075,36
1.169
Quick ratio
0,51 -26,09 0,69 4,55 0,66
Contact
information
Company name Rubber
Resources B.V.
Trade names Rubber
Resources B.V.
Operative address Schoenerweg
36
6222NX Maastricht
Netherlands
Correspondence address Postbus
437
6200AK Maastricht
Netherlands
Telephone number 0433290444
Fax number 0433257191
Email address info@rubber-resources.com
Website www.rubber-resources.com
Registration
Registration number KvK-nummer:
14633389
Branch number 000016230736
VAT-number 804042962
Status
Active
First registration company register 1995-09-01
Memorandum 1995-08-22
Establishment date 1995-08-22
Legal form Private Company
Last proposed admendment 2001-08-14
Activities
SBI Recovery
of sorted materials (3832)
Recycling of
non-metal waste and scrap (383202)
ISO certified Yes
Exporter No
Importer No
Branche organisations Federatie
Nederlandse Rubber- en Kunststofindustrie
VACO
Goal Recycling
of rubber to raw materials for rubber industry and holdings gebonden activities
of the group operating companies.
Relations
Shareholders Name:
Elgi Rubber Company LIMITED
Office address: 2000 Trichy Road,,
Singanallur, Coimbatore 641 005 Tamil Nadu, India
Registered in: Registrar of Companies Tamil
Nadu, Coimbatore, India with registration number U25119TZ2006PLC013144
Only shareholder since: 16-03-2011 (date
Registration type: 16-03-2011)
Branches Rubber
Resources BV
Beukenlaan 50
6871CL RENKUM
Netherlands
Registration number: 146333890001
Companies on same address Elgi
Rubber Company B.V.
Registration number: 549127920000
Liability statements Vredendal
N.V.
Sparrenheuvel 36
3708JE ZEIST
Netherlands
Registration number: 090433690000
date of issue: 2000-02-09
Starting date: 2000-01-01
End date: 2011-04-20
Management
Active management R.J.H.
Burlet (Rudolf Johannes Hubertus)
Netherlands
Competence: Limited authorization
Function: Manager
Starting date: 2006-02-03
Date of birth: 1957-01-05, Geleen, NL
S. Varadaraj (Sudarsan)
Netherlands
Function: Commissaris
Starting date: 2011-03-16
Date of birth: 1958-01-22, Chennai, IN
J.H. Smitsmans (Jozef Hubertus)
Netherlands
Competence: Limited authorization
Function: Proxy
Starting date: 1995-09-01
Date of birth: 1951-04-24,
Valkenburg-Houthem, NL
J.M.A. Budé (Josephina Maria Antoinette)
Netherlands
Competence: Limited authorization
Function: Proxy
Starting date: 1999-04-01
Date of birth: 1966-06-24, Heerlen, NL
T.H. Knöpker (Theodorus Hubertus)
Netherlands
Competence: Limited authorization
Function: Proxy
Starting date: 1999-04-01
Date of birth: 1968-10-11, Heerlen, NL
M.R.R. Beeldsnijder (Marc Roël Ronald)
Netherlands
Competence: Limited authorization
Function: Proxy
Starting date: 2003-12-02
Date of birth: 1966-06-06, Paramaribo, SR
C.F.J. Bulten (Chantal Francina Johanna)
Netherlands
Competence: Limited authorization
Function: Proxy
Starting date: 2006-02-17
Date of birth: 1971-12-21, Heerlen, NL
L.L.E.J. Hardij (Lambertus Lucien Egidius
Jozep)
Netherlands
Competence: Limited authorization
Function: Proxy
Starting date: 2009-09-08
Date of birth: 1958-03-17, Eijsden, NL
M.J.M.J. Claasens (Maurice Johannes Maria
Joseph)
Netherlands
Competence: Limited authorization
Function: Proxy
Starting date: 2009-11-02
Date of birth: 1965-10-06, Maastricht, NL
Employees
Total according to the Chamber of Commerce 79
Year 2014 2013 2012
2011
2010
Total 79 79 79
79 74
Payments
Score 7,55
Description Payments made
under regular condition
Key figures
|
Year |
2012 |
2011 |
2010 |
|
|||
|
Quick ratio |
0,51 |
0,69 |
0,66 |
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|||
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Current ratio |
1,25 |
1,20 |
1,22 |
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|||
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Working capital/ balance
total |
0,15 |
0,12 |
0,11 |
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|||
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Equity / balance total |
0,40 |
0,36 |
0,41 |
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|||
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Equity / Fixed assets |
1,42 |
1,24 |
1,11 |
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|||
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Equity / liabilities |
0,66 |
0,57 |
0,71 |
||||
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Balance total /
liabilities |
1,66 |
1,57 |
1,71 |
||||
|
Working capital |
1.743.348 |
1.451.610 |
1.169 |
||||
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Equity |
4.784.873 |
4.359.765 |
4.361 |
||||
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Mutation equity |
9,75 |
99.871,68 |
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||||
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Mutation short term
liabilities |
-3,26 |
131.111,90 |
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||||
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Return on total assets
(ROA) |
2,69 |
0,22 |
2,40 |
||||
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Return on equity (ROE) |
6,73 |
0,61 |
5,80 |
||||
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Gross margin |
10.596.932 |
10.296.120 |
10.188 |
||||
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Operating result |
448.438 |
359.622 |
283 |
||||
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Net result after taxes |
425.108 |
36.229 |
289 |
||||
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Cashflow |
1.193.753 |
901.032 |
1.118 |
||||
|
EBIT |
448.438 |
359.622 |
283 |
||||
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EBITDA |
1.217.083 |
1.224.425 |
1.112 |
||||
Summary The 2012
financial result structure is a postive working captial of 1.743.348 euro,
which is in agreement with 15 % of the total assets of the company.
The working capital has increased with 20.1 %
compared to previous year. The ratio, with respect to the total assets of the
company has however, increased.
The improvement between 2011 and 2012 has
mainly been caused by an increase of the current assets.
The current ratio of the company in 2012 was
1.25. When the current ratio is below 1.5, the company may have problems
meeting its short-term obligations.
The quick ratio in 2012 of the company was
0.51. A company with a Quick Ratio of less than 1 cannot currently pay back its
current liabilities.
The 2011 financial result structure is a
postive working captial of 1.451.610 euro, which is in agreement with 12 % of
the total assets of the company.
The working capital has increased with
124075.36 % compared to previous year. The ratio, with respect to the total
assets of the company has however, increased.
The improvement between 2010 and 2011 has
mainly been caused by a current liabilities reduction.
The current ratio of the company in 2011 was
1.2. When the current ratio is below 1.5, the company may have problems meeting
its short-term obligations.
The quick ratio in 2011 of the company was
0.69. A company with a Quick Ratio of less than 1 cannot currently pay back its
current liabilities.
Financial
statement
Type of annual account Corporate
Annual account Rubber
Resources B.V.
Schoenerweg 36
6222NX Maastricht
Netherlands
Registration number: 146333890000
Balance
|
Year |
2012 |
2011 |
2010 |
||
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End date |
2012-12-31 |
2011-12-31 |
2010-12-31 |
||
|
Tangible fixed assets |
3.190.922 |
3.503.425 |
3.709 |
|
|
|
Financial fixed assets |
171.906 |
|
231 |
|
|
|
Fixed assets |
3.362.828 |
3.503.425 |
3.940 |
|
|
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Total stock |
5.130.705 |
3.658.833 |
3.019 |
|
|
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Total receivables |
3.489.575 |
4.540.507 |
3.497 |
|
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Liquid funds |
451 |
361.331 |
71 |
||
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Current assets |
8.620.731 |
8.560.671 |
6.587 |
|
|
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Total assets |
11.983.559 |
12.064.096 |
10.527 |
|
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Issued capital |
500.000 |
500.000 |
500 |
||
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Share premium reserve |
3.026.462 |
3.026.462 |
3.026 |
||
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Other reserves |
544.647 |
508.418 |
835 |
||
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Non-distributable profit |
713.764 |
324.885 |
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||
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Total reserves |
4.284.873 |
3.859.765 |
3.861 |
||
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Total equity |
4.784.873 |
4.359.765 |
4.361 |
|
|
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Provisions |
321.303 |
295.270 |
138 |
||
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Long term interest
yielding debt |
|
300.000 |
610 |
||
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Long term liabilities |
|
300.000 |
610 |
|
|
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Short term liabilities |
6.877.383 |
7.109.061 |
5.418 |
|
|
|
Total short and long term liabilities |
7.198.686 |
7.704.331 |
6.166 |
|
|
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Total liabilities |
11.983.559 |
12.064.096 |
10.527 |
|
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Summary The total
assets remained the same between 2011 and 2012.
Despite the fact that the total assets
remained the same, the fixed assets decreased with -4.01 %.
Despite thee unchanged assets the net worth
grew with 9.75 %, which has resulted in the fact that the company's
indebtedness declined with -6.56 %.
In 2012 the assets of the company were 28.06
% composed of fixed assets and 71.94 % by current assets. The assets are being
financed by an equity of 39.93 %, and total debt of 60.07 %.
The total assets of the company increased
with 114501.46 % between 2010 and 2011.
The fixed asset growth of 88819.42 % is
lower than the total asset growth.
The asset growth has mainly been financed by
a debt increase of 124848.61 %. The Net Worth, however, grew with 99871.68 %.
In 2011 the assets of the company were 29.04
% composed of fixed assets and 70.96 % by current assets. The assets are being
financed by an equity of 36.14 %, and total debt of 63.86 %.
Profit
and loss
|
Year |
2012 |
2011 |
2010 |
|
|
|
Gross margin |
10.596.932 |
10.296.120 |
10.188 |
|
|
|
Wages and salaries |
5.171.776 |
4.920.480 |
4.259 |
|
|
|
Amorization and depreciation |
768.645 |
864.803 |
829 |
|
|
|
other operating costs |
4.208.073 |
4.151.215 |
4.817 |
|
|
|
Operating expenses |
10.148.494 |
9.936.498 |
9.905 |
|
|
|
Result in subsidiaries |
5.865 |
-135.722 |
|
|
|
|
Operating result |
448.438 |
359.622 |
283 |
|
|
|
Financial income |
3.837 |
|
56 |
|
|
|
Financial expenses |
136.098 |
197.270 |
86 |
|
|
|
Financial result |
-132.261 |
-197.270 |
-30 |
|
|
|
Result on ordinary
operations before taxes |
322.042 |
26.630 |
253 |
|
|
|
Taxation on the result of
ordinary activities |
-103.066 |
-44.657 |
38 |
|
|
|
Result of ordinary
activities after taxes |
425.108 |
71.287 |
215 |
|
|
|
Extraordinary expense |
|
35.058 |
|
|
|
|
Extraordinary result after
taxation |
|
-35.058 |
|
|
|
|
Result subsidiaries after
taxes |
|
|
74 |
|
|
|
Net result |
425.108 |
36.229 |
289 |
|
|
Summary The
gross profit of the company grew with 2.92 % between 2011 and 2012.
The operating result of the company grew with
24.7 % between 2011 and 2012. This evolution implies an increase of the
company's economic profitability.
The result of these changes is an increase
of the company's Economic Profitability of 1122.73 % of the analysed period,
being equal to 2011 % in the year 2012.
The Net Result of the company decreased by
1073.39 % between 2011 and 2012.
The company's Financial Profitability has
been negatively affected by the financial activities in comparison to the EBITs
behaviour. The result of these variations is a profitability reduction of
1003.28 % of the analysed period, being 6.73 % in the year 2012.
The company's financial structure has slowed
down its financial profitability.
The gross profit of the company grew with
100961.25 % between 2010 and 2011.
The operating result of the company grew
with 126974.91 % between 2010 and 2011. This evolution implies an increase of
the company's economic profitability.
The result of these changes is a reduction
of the company's Economic Profitability of -90.83 % of the analysed period,
being equal to 2010 % in the year 2011.
The Net Result of the company decreased by
12435.99 % between 2010 and 2011.
The company's Financial Profitability has
been positively affected by the financial activities in comparison to the EBITs
behaviour. The result of these variations is a profitability increase of -89.48
% of the analysed period, being 0.61 % in the year 2011.
The company's financial profitability has
been positively affected by its financial structure.
Analysis
Branch (SBI) MANUFACTURE
OF CHEMICALS AND CHEMICAL PRODUCTS (20)
Region Limburg
In the Netherlands 1365 of the companies are
registered with the SBI code 20
In the region Limburg 121 of the companies
are registered with the SBI code 20
In the Netherlands 17 of the bankrupcties
are published within this sector
The risk of this specific sector in the
Netherlands is normal
The risk of this specific sector in the region
Limburg is normal
Publications
Consent statements 03-03-2011:
Voor boekjaar 2009 is een instemmingsverklaring gedeponeerd.
Liability
statements 20-04-2011:
Per 20-04-2011 is een aansprakelijkheidsverklaring door Vredendal N.V.
ingetrokken.
Filings 22-08-2013:
De jaarrekening over 2012 is gepubliceerd.
24-07-2012: De jaarrekening over 2011 is
gepubliceerd.
Functions 17-03-2011: Per
16-03-2011 is commissaris Sudarsan Varadaraj in functie getreden.
17-03-2011: Per 16-03-2011 is commissaris
Helen Anne van Vuuren uit functie getreden.
17-03-2011: Per 16-03-2011 is commissaris
Robert Henk Oudshoorn uit functie getreden.
17-03-2011: Per 16-03-2011 is commissaris
Steven Frederik Vis uit functie getreden.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.38 |
|
|
1 |
Rs.101.63 |
|
Euro |
1 |
Rs.83.57 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
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|
Report Prepared
by : |
NNA |
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.