MIRA INFORM REPORT

 

 

Report Date :

02.08.2014

 

IDENTIFICATION DETAILS

 

Name :

STAFA TRADING B.V.

 

 

Registered Office :

Den Engelsman 18, 6026RB Maarheeze

 

 

Country :

Netherlands

 

 

Financials (as on) :

31.12.2012

 

 

Date of Incorporation :

11.03.1977

 

 

Com. Reg. No.:

17075593

 

 

Legal Form :

Private company

 

 

Line of Business :

·         Wholesaler of hardware (ironware and Metal Products)

importer of Stock Fasteners (DIN / ISO) such as Screws, Bolts, Nuts, Washers, Anchors, Threaded Rods and anchors. 

Subject specializes galvanized and Hot Dip Galvanized Products which are very broad and Deep Stock. 

 

 

No of Employees :

36 (2014)

 

 

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 :

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 – June 01, 2014

 

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

Netherlands

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderate Low Risk

 

B1

Moderate Risk

 

B2

Moderate High Risk

 

C1

High Risk

 

C2

Very High Risk

 

D

 

 

Netherlands ECONOMIC OVERVIEW

 

Netherlands is the sixth-largest economy in the euro-zone and is noted for its stable industrial relations, moderate unemployment and inflation, sizable trade surplus, and 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. Netherlands, along with 11 of its EU partners, began circulating the euro currency on 1 January 2002. The Dutch financial sector suffered as a result of the global financial crisis, due in part to the high exposure of some Dutch banks to US 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. 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. To recover, the government 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 austerity measures in early 2011, mainly reducing expenditures, which resulted in an improved budget deficit in 2011. However, in 2012 tax revenues dropped, GDP contracted, and the budget deficit deteriorated. In 2013, the government budget deficit decreased to 3.3% of GDP due to increased government revenue from higher taxes. However, spending on social benefits also increased, due to a rise in unemployment benefits and payments for pensions. The high unemployment rate and tax increases have contributed to continued decreases in household disposable income, causing the Dutch economy to contract.

 

Source : CIA

 

 

Company summary

Summary

Company name                       Stafa Trading B.V.

Operative address                   Den Engelsman 18

6026RB Maarheeze

Netherlands

Status                                      Active

Legal form                               Besloten Vennootschap (Private company)

Registration number                KvK-nummer: 17075593

VAT-number                            800966041

 

Year

2012

Mutation

2011

Mutation

2010

Fixed assets

219.816

-27,43

302.896

-29,48

429.547

Total receivables

1.463.093

-9,66

1.619.533

-5,58

1.715.266

Total equity

892.230

-31,52

1.302.860

-7,02

1.401.217

Short term liabilities

5.641.970

-15,98

6.715.134

26,56

5.305.783

Net result

589.370

-34,63

901.643

-8,55

985.957

Working capital

1.711.194

58,47

1.079.852

-4,53

1.131.048

Quick ratio

0,26

8,33

0,24

-25,00

0,32

 

 

Contact information

 

Company name                       Stafa Trading B.V.

 

Trade names                           Stafa Trading B.V.

 

Operative address                   Den Engelsman 18

6026RB Maarheeze

Netherlands

 

Correspondence address         Den Engelsman 18

6026RB Maarheeze

Netherlands

Telephone number                  0495599888

Fax number                             0495599876

Email address                         info@stafa.nl

Website                                  www.stafa.nl

 

Registration

 

Registration number                KvK-nummer: 17075593

Branch number                        000017959152

VAT-number                            800966041

Status                                      Active

First registration company

register                                    1992-05-26

Memorandum                          1992-05-22

Establishment date                  1977-03-11

Legal form                               Besloten Vennootschap (Private Company)

Last proposed admendment 2012-02-28

 

 

Activities

 

·         Wholesaler of hardware (ironware and Metal Products)

importer of Stock Fasteners (DIN / ISO) such as Screws, Bolts, Nuts, Washers, Anchors, Threaded Rods and anchors. 

Subject specializes galvanized and Hot Dip Galvanized Products which are very broad and Deep Stock. 

 

Exporter                       Yes

Importer                       Yes

Goal                             The import, export, wholesale, and having agencies in all common fasteners and tools,

as well as the wholesale work gloves

Relations

 

Shareholders               JIG Holding B.V.

Den Engelsman 18

6026RB MAARHEEZE

Netherlands

Registration number: 171910170000

Percentage: 100%

 

 

Management

 

Active management    JIG Holding B.V.

Den Engelsman 18

6026RB MAARHEEZE

Netherlands

Registration number: 171910170000

Competence: Fully authorized

Function: Manager

Starting date: 2006-09-29

 

 

Employees

 

Total according to the Chamber of Commerce                                    36

Year                 2014                 2012                 2011                 2010                 2009

Total                 36                     40                     40                     39                     39

 


Payments

 

Description The payments are delayed

Key Figures

Year

2012

2011

2010

2009

2008

Quick ratio

0,26

0,24

0,32

0,21

0,23

Current ratio

1,30

1,16

1,21

1,03

1,05

Working capital/ balance total

0,23

0,13

0,16

0,03

0,04

Equity / balance total

0,12

0,16

0,20

0,07

0,11

Equity / Fixed assets

4,06

4,30

3,26

0,86

1,30

Equity / liabilities

0,13

0,19

0,26

0,07

0,13

Balance total \ liabilities

1,13

1,19

1,26

1,07

1,13

Working capital

1.711.194

1.079.852

1.131.048

182.870

328.175

Equity

892.230

1.302.860

14.012.017

415.260

880.644

Mutation Equity

-31,52

-7,02

23,743

-52,85

-11,84

Mutation Short Term liabilities

-15,98

26,56

-5,09

-17,41

18,66

Return on total assets (ROA)

10,25

14,71

19,02

3,70

11,77

Return on equity (ROE)

86,98

91,41

93,18

55,68

103,91

Gross margin

3.922.602

4.000.589

3.966.030

3.122.765

3.690.685

Operating result

926.119

1.344.944

1.460.450

385.618

1.132.070

Net result after taxes

589.370

901.643

985.957

184.616

681.705

Cashflow

717.695

1.045.282

1.174.849

387.601

817.831

EBIT

926.119

1.344.944

1.460.450

385.618

1.132.070

EBITDA

1.054.444

1.488.583

1.649.342

588.603

1.268.196

 

Summary

 

The 2012 financial result structure is a positive working capital of 1.711.194 euro, which is in

agreement with 23 % of the total assets of the company.

 

The working capital has increased with 58.47 % 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 1.3. 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 0.26. A company with a Quick Ratio of less than

1 cannot currently pay back its current liabilities.

 

The 2011 financial result structure is a positive working capital of 1.079.852 euro, which is in

agreement with 13 % of the total assets of the company.

 

The working capital has diminished with -4.53 % compared to previous year. The ratio, with

respect to the total assets of the company has however, declined.

 

The deterioration between 2010 and 2011 has mainly been caused by an increase of the

current liabilities.

The current ratio of the company in 2011 was 1.16. 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 0.24. 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                       Stafa Trading B.V.

Den Engelsman 18

6026RB Maarheeze

Netherlands

Registration number: 170755930000

 

Balance Sheet

Year

2012

2011

2010

2009

2008

End date

2012-12-31

2011-12-31

2010-12-31

2009-12-31

2008-12-31

Tangible fixed assets

219.816

302.896

429.547

481.201

678.666

Fixed assets

219.816

302.896

429.547

481.201

678.666

Total stock

5.888.333

6.160.783

4.719.615

4.621.655

5.543.206

Total receivables

1.463.093

1.619.533

1.715.266

1.150.613

1.553.227

Liquid funds

1.738

14.670

1.950

949

369

Current assets

7.353.164

7.794.986

6.436.831

5.773.217

7.096.802

Total assets

7.572.980

8.097.882

6.866.378

6.254.418

7.775.468

Issued capital

18.805

18.805

18.805

18.805

18.805

Other reserves

873.425

1.284.055

1.382.412

396.455

861.839

Total reserves

873.425

1.284.055

1.382.412

396.455

861.839

Total equity

892.230

1.302.860

1.401.217

415.260

880.644

Long term interest yielding debt

1.038.780

79.888

159.378

248.811

126.197

Long term liabilities

1.038.780

79.888

159.378

248.811

126.197

Short term liabilities

5.641.970

6.715.134

5.305.783

5.590.347

6.768.627

Total short and long term liabilities

6.680.750

6.795.022

5.465.161

5.839.158

6.894.824

Total liabilities

7.572.980

8.097.882

6.866.378

6.254.418

7.775.468

 

Summary

The total assets of the company decreased with -6.48 % between 2011 and 2012.

 

This downturn is mainly retrievable in the fixed asset decrease of -27.43 %.

Assets reduction is explained by a Net Worth decrease of -31.52 %, and an indebtedness

reduction of -1.68 %.

 

In 2012 the assets of the company were 2.9 % composed of fixed assets and 97.1 % by

current assets. The assets are being financed by an equity of 11.78 %, and total debt of

88.22 %.

 

The total assets of the company increased with 17.94 % between 2010 and 2011.

 

Despite the assets growth, the non current assets decreased with -29.48 %.

 

Asset growth is in contrasts with the net worth decline of -7.02 %. The company's

indebtedness has, therefore, increased with 24.33 %.

 

In 2011 the assets of the company were 3.74 % composed of fixed assets and 96.26 % by

current assets. The assets are being financed by an equity of 16.09 %, and total debt of

83.91 %.

 

 

 

Profit & Loss

Year

2012

2011

2010

2009

2008

Gross margin

3.922.602

4.000.589

3.966.030

3.122.765

3.690.685

 

Wages and salaries

1.626.271

1.508.336

1.309.557

1.260.247

1.428.638

Amorization and depreciation

128.325

143.639

188.892

202.985

136.126

other operating costs

1.241.887

1.003.670

1.007.131

1.273.915

993.851

Operating expenses

2.996.483

2.655.645

2.505.580

2.737.147

2.558.615

Operating result

926.119

1.344.944

1.460.450

385.618

1.132.070

 

Financial expenses

150.027

153.966

154.786

154.394

217.030

Financial result

-150.027

-153.966

-154.786

-154.394

-217.030

Result on ordinary operations before taxes

776.092

1.190.978

1.305.664

231.224

915.040

 

Taxation on the result of ordinary activities

186.722

289.852

321.429

46.608

233.335

Result of ordinary activities after taxes

589.370

901.126

984.235

184.616

681.705

Extraordinary income

 

517

1.722

 

 

Net result

589.370

901.643

985.957

184.616

681.705

 

 

 

Summary

The gross profit of the company decreased by -1.95 % between 2011 and 2012.

 

The operating result of the company declined with -31.14 % between 2011 and 2012. This

evolution implies an decrease of the company's economic profitability.

 

The result of these changes is a reduction of the company's Economic Profitability of -30.32

% of the analysed period, being equal to 2011 % in the year 2012.

 

The Net Result of the company increased by -34.63 % between 2011 and 2012.

 

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

-4.85 % of the analysed period, being 86.98 % in the year 2012.

 

The company's financial profitability has been positively affected by its financial structure.

 

The gross profit of the company has remained the same between 2010 and 2011.

 

The operating result of the company declined with -7.91 % between 2010 and 2011. This

evolution implies an decrease of the company's economic profitability.

 

The result of these changes is a reduction of the company's Economic Profitability of -22.66

% of the analysed period, being equal to 2010 % in the year 2011.

 

The Net Result of the company increased by -8.55 % 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

-1.9 % of the analysed period, being 91.41 % in the year 2011.

 

The company's financial profitability has been positively affected by its financial structure.

 

 

 

Analysis

 

Branch (SBI)

Wholesale trade (no motor vehicles and motorcycles) (46)

 

Region

Zuid-Oost-Brabant

In the Netherlands 109662 of the companies are registered with the SBI code 46

In the region Zuid-Oost-Brabant 5034 of the companies are registered with the SBI code 46

In the Netherlands 2387 of the bankrupcties are published within this sector

In the region Zuid-Oost-Brabant 97 of the bankruptcies 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 Zuid-Oost-Brabant is normal

Publications

Filings

17-04-2014: De jaarrekening over 2012 is gepubliceerd.

14-01-2013: De jaarrekening over 2011 is gepubliceerd.

30-03-2012: De jaarrekening over 2010 is gepubliceerd.

19-11-2010: De jaarrekening over 2009 is gepubliceerd.

06-10-2009: De jaarrekening over 2008 is gepubliceerd.

 

Amendments

02-03-2012: Geplaatst kapitaal gewijzigd in EUR 20.720,00 Gestort kapitaal gewijzigd in EUR 20.720,00.

02-03-2012: Per 28-2-2012 statuten gewijzigd. Per 28-2-2012 naam gewijzigd in: Stafa Trading B.V..

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.60.85

UK Pound

1

Rs.102.69

Euro

1

Rs.81.46

 

 

INFORMATION DETAILS

 

Analysis Done by :

RAS

 

 

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 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.