|
Report Date : |
16.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
TERPENA SRL |
|
|
|
|
Registered Office : |
Hunedoara county / 335700
Orastie – Nicolae Titulescu Street No. 61 |
|
|
|
|
Country : |
Romania |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
September, 1998 |
|
|
|
|
Com. Reg. No.: |
J20/622/1998 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturer of essential
oils, according to the National Trade Registry updated files |
|
|
|
|
No of Employees : |
86 |
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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
Romania |
B2 |
B2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
ROMANIA - ECONOMIC OVERVIEW
Romania, which joined the
European Union on 1 January 2007, began the transition from Communism in 1989
with a largely obsolete industrial base and a pattern of output unsuited to the
country's needs. The country emerged in 2000 from a punishing three-year
recession thanks to strong demand in EU export markets. Domestic consumption
and investment fueled strong GDP growth, but led to large current account
imbalances. Romania's macroeconomic gains have only recently started to spur
creation of a middle class and to address Romania''s widespread poverty.
Corruption and red tape continue to permeate the business environment.
Inflation rose in 2007-08, driven by strong consumer demand, high wage growth,
rising energy costs, a nation-wide drought, and a relaxation of fiscal
discipline. As a result of the increase in fiscal and current account deficits
and the global financial crisis, Romania signed on to a $26 billion emergency
assistance package from the IMF, the EU, and other international lenders.
Worsening international financial markets, as well as a series of drastic
austerity measures implemented to meet Romania''s obligations under the IMF-led
bail-out agreement contributed to a GDP contraction of 6.6% in 2009, followed
by a 1.1% GDP contraction in 2010. The economy returned to positive growth in
2011 due to strong exports, a better than expected harvest, and weak domestic
demand. In 2012, however, growth slowed to less than 1%, partially due to
slackening export demand and an extended drought that resulted in an
exceptionally poor harvest. In March 2011, Romania and the IMF/EU/World Bank
signed a 24-month precautionary stand-by agreement, worth $6.6 billion, to
promote fiscal discipline, encourage progress on structural reforms, and
strengthen financial sector stability. The Romanian authorities announced that
they do not intend to draw funds under the agreement.
|
Source
: CIA |
|
NAME OF THE
COMPANY |
TERPENA SRL |
||
|
Address |
Hunedoara county / 335700 Orastie – Nicolae Titulescu Street No. 61 |
||
|
Phone no. Cell phone no. |
0040-254-247020, 247244 0040-354-566915 0040-744-786510, 620153 0040-748-195880 0040-754-089149 |
Fax no. |
0040-254-247020 |
|
Web-site http://www.caranda.ro/ |
E-mail address |
||
|
Date of
foundation |
September, 1998 |
|||||
|
Present legal
form |
Limited liability company, joint venture of Romanian and foreign
(Austrian) capital |
|||||
|
Registered with
the Trade Registry |
J20/622/1998 |
|||||
|
VAT no. |
11042591 |
|||||
|
Registered
capital |
1,000 RON |
|||||
|
Shareholders |
Individuals |
|||||
|
1. Cadariu Razvan Traian – Romanian citizen, born on 9.01.1982 |
||||||
|
Participation |
5% |
|||||
|
2. Peia Valentina – Romanian citizen, born on 14.07.1967 |
||||||
|
Participation |
7% |
|||||
|
3. Peia Marius Radu – Romanian citizen, born on 23.01.1966 |
||||||
|
Participation |
7% |
|||||
|
4. Cadariu Ioan Traian – Romanian citizen, born on 19.07.1947 |
||||||
|
Participation |
51% |
|||||
|
Legal person |
||||||
|
5. BRUDER UNTERWEGER GESELLSCHAFT M.B.H.
– Austrian legal person |
||||||
|
Address: Austria / 9911 Assling – Thal-Aue No. 13 |
||||||
|
Participation |
30% |
|||||
|
Obligation to
publish |
According to the Romanian Financial
Legislation, subject company is obliged to lodge with the Ministry of Public Finance its half-yearly accounts |
|||||
|
EMPLOYEES |
2008 |
2009 |
2010 |
2011 |
2012 |
|
|
total |
38 |
31 |
50 |
73 |
86 |
|
- Manufacture of essential oils, according to the National Trade Registry
updated files (NACE: 2053)
TERPENA SRL is the one of the leading
essential oils & natural aromatic chemicals manufacturer in Eastern Europe
and the only in Romania.
|
1. Company’s
participation |
not applicable |
|
|
2. Shareholders
other participation |
1. Cadariu Razvan Traian |
CRT ESENTIA SRL – J20/1159/2003,
VAT 15759689 |
|
SCHERZZO SRL – J01/270/2006,
VAT 18503137 |
||
|
2. Peia Valentina |
BIORA SAFIR SRL – J20/1330/2007,
VAT 22412436 |
|
|
3. Peia Marius Radu |
BIORA SAFIR SRL – J20/1330/2007,
VAT 22412436 |
|
|
4. Cadariu Ioan Traian |
not applicable |
|
|
5. Bruder
Unterweger Gesellschaft M.B.H. |
not applicable |
|
|
|
2010 |
2011 |
2012 |
|
- lands |
3,115,110 |
3,115,110 |
3,115,110 |
|
- buildings |
1,877,888 |
2,339,555 |
2,293,971 |
|
- equipment |
2,511,591 |
3,278,502 |
3,282,543 |
N/A
|
·
as officially registered with the National Trade
Registry |
Administrator Cadariu Ioan Traian –
appointed on 4.10.2013 for unlimited period |
|
Exchange rate of EURO |
1 EURO = 3.9852 RON on 31.12.2008 1 EURO = 4.2282 RON on 31.12.2009
|
|
BALANCE SHEET |
31.12.2010 |
31.12.2011 |
31.12.2012 |
|
INTANGIBLES - TOTAL |
5,858 |
5,858 |
45,060 |
|
TANGIBLES - TOTAL |
8,591,252 |
10,052,656 |
10,691,510 |
|
FINANCIALS - TOTAL |
0 |
0 |
860 |
|
FIXED ASSETS - TOTAL |
8,597,110 |
10,058,514 |
10,737,430 |
|
STOCKS - TOTAL |
5,212,929 |
7,100,579 |
9,867,870 |
|
CLAIMS - TOTAL |
6,866,567 |
3,180,525 |
5,327,933 |
|
CURRENT ASSETS |
12,578,586 |
11,024,766 |
16,043,997 |
|
PREPAID EXPENSES |
0 |
0 |
3,120 |
|
DEBTS WITHIN 1 YEAR |
9,468,649 |
7,852,020 |
9,371,957 |
|
DEBTS OVER 1 YEAR |
7,187,022 |
7,827,880 |
7,987,378 |
|
PROVISIONS |
0 |
0 |
0 |
|
ADVANCED INCOMES |
157,850 |
0 |
135,875 |
|
REGISTERED CAPITAL |
1,000 |
1,000 |
1,000 |
|
RESERVES from reassessment of the fixed assets |
2,805,030 |
2,805,030 |
2,805,030 |
|
RESERVES |
103,728 |
103,729 |
103,729 |
|
PROFITS CARRIED FORWARD |
0 |
688,417 |
1,973,621 |
|
NET RESULT - PROFIT |
1,452,417 |
1,805,204 |
4,405,957 |
|
NET RESULT - LOSS |
0 |
0 |
0 |
|
NET WORTH |
4,362,175 |
5,403,380 |
9,289,337 |
|
|
|
|
|
|
PROFIT & LOSS ACCOUNT |
31.12.2010 |
31.12.2011 |
31.12.2012 |
|
Turnover |
16,507,648 |
20,440,258 |
24,484,476 |
|
Own production & services |
16,507,648 |
20,440,258 |
24,326,029 |
|
Sales |
0 |
0 |
158,447 |
|
INCOMES FROM ORDINARY OPERATING ACTIVITY |
17,027,205 |
20,758,663 |
27,057,715 |
|
Raw materials |
11,285,390 |
13,844,480 |
16,418,850 |
|
Costs of goods sold |
0 |
0 |
151,214 |
|
Wages |
1,272,087 |
2,099,345 |
2,624,062 |
|
Depreciations & provisions |
465,321 |
474,962 |
524,239 |
|
Other operating costs |
737,060 |
1,483,632 |
1,162,619 |
|
COSTS OF ORDINARY OPERATING ACTIVITY |
13,997,206 |
18,313,977 |
21,396,300 |
|
ORDINARY OPERATING RESULT - PROFIT |
3,029,999 |
2,444,686 |
5,661,415 |
|
ORDINARY OPERATING RESULT - LOSS |
0 |
0 |
0 |
|
FINANCIAL INCOMES |
638,050 |
923,507 |
1,101,247 |
|
FINANCIAL COSTS |
1,938,166 |
1,263,035 |
1,578,081 |
|
FINANCIAL RESULT - PROFIT |
0 |
0 |
0 |
|
FINANCIAL RESULT - LOSS |
1,300,116 |
339,528 |
476,834 |
|
CURRENT RESULT - PROFIT |
1,729,883 |
2,105,158 |
5,184,581 |
|
CURRENT RESULT - LOSS |
0 |
0 |
0 |
|
Extraordinary incomes |
0 |
0 |
0 |
|
Extraordinary costs |
0 |
0 |
0 |
|
EXTRAORDINARY RESULT - PROFIT |
0 |
0 |
0 |
|
EXTRAORDINARY RESULT - LOSS |
0 |
0 |
0 |
|
TOTAL INCOMES |
17,665,255 |
21,682,170 |
28,158,962 |
|
TOTAL COSTS |
15,935,372 |
19,577,012 |
22,974,381 |
|
PRETAX RESULT - PROFIT |
1,729,883 |
2,105,158 |
5,184,581 |
|
PRETAX RESULT - LOSS |
0 |
0 |
0 |
|
TAX ON PROFIT |
277,466 |
299,954 |
778,624 |
|
NET RESULT - PROFIT |
1,452,417 |
1,805,204 |
4,405,957 |
|
NET RESULT - LOSS |
0 |
0 |
0 |
N.B.: any difference occurred between former reports and the present one
regarding some positions of the “Balance Sheet” or P/L Account for previous
periods does not belong to us.
The financial data from this report are the ones officially declared by
the subject with the Ministry of Public Finance data basis for 31.12.2012. As
consequence, the responsibility for their accuracy belongs exclusively to the
company.
based upon financial figures reported in the latest balance-sheet –
31.12.2012
- all figures are reported in RON
if otherwise not specified.
|
Size |
medium, considering the number of employees |
|
Position &
trend |
Developing
business, with an already large turnover. The
financial standing looks well-enough and the payments behaviour is correct. The
business relationships are feasible and the credit facilities are suitable. Business
trend seems ascendant. |
|
|
31.12.2008 |
31.12.2009 |
31.12.2010 |
31.12.2011 |
31.12.2012 |
|
Turnover |
|
|
|
|
|
|
RON |
6,305,293 |
6,722,134 |
16,507,648 |
20,440,258 |
24,484,476 |
|
EURO |
1,582,177 |
1,589,833 |
3,852,606 |
4,731,870 |
5,528,592 |
|
|
|
|
|
|
|
|
Gross
profit |
|
|
|
|
|
|
RON |
768,988 |
232,102 |
1,729,883 |
2,105,158 |
5,184,581 |
|
EURO |
192,961 |
54,894 |
403,725 |
487,339 |
1,170,678 |
|
|
|
|
|
|
|
|
Net
profit |
|
|
|
|
|
|
RON |
644,163 |
190,108 |
1,452,417 |
1,805,204 |
4,405,957 |
|
EURO |
161,639 |
44,962 |
338,970 |
417,900 |
994,865 |
|
|
31.12.2012 |
||
|
CREDITS
& LOANS (ACTIVE BALANCE) |
None
(zero) |
||
|
|
|
||
|
BALANCE CLAIMS-DEBTS |
Negative |
||
|
Total claims |
5,327,933 |
||
|
clients &
trade debtors |
5,159,934 |
|
|
|
Total debts |
17,359,335 |
||
|
- Short term |
9,371,957 |
||
|
suppliers &
trade creditors |
8,367,434 |
|
|
|
to the Social
Insurance |
78,460 |
|
|
|
to the State
Budget |
381,963 |
|
|
|
to the
shareholders |
|
|
|
|
other debts |
446,745 |
|
|
|
- Medium term |
7,987,378 |
||
|
to other creditors |
7,987,378 |
|
|
|
PAYMENTS BEHAVIOR |
correct, no delays
reported |
|||||||
|
|
||||||||
|
|
|
|||||||
|
PAYMENTS
INCIDENTS, as |
No incidents recorded in the period 14.01.2013 – 14.01.2014 |
|||||||
|
officially recorded with the
Payment Incident Bureau |
|
|||||||
|
|
||||||||
|
FINANCIAL
STRENGTH |
3,604 tsd EURO |
|||||||
|
BUSINESS
RELATIONS |
Permissible |
|||||||
|
|
||||||||
|
|
2008 |
2009 |
2010 |
2011 |
2012 |
|||
|
|
|
|||||||
|
Liquidity
analysis |
Satisfactory |
|||||||
|
- current ratio |
1.69 |
1.38 |
1.33 |
1.4 |
1.71 |
|||
|
- quick ratio |
0.71 |
0.58 |
0.78 |
0.5 |
0.66 |
|||
|
|
|
|||||||
|
Solvability
analysis |
Satisfactory |
|||||||
|
- the borrowing ratio (total
debts/net worth) |
2.87 |
4 |
3.82 |
2.9 |
1.87 |
|||
|
|
|
|||||||
|
Profitability
analysis (%) |
Very
good |
|||||||
|
- return on capital |
18.13 |
6.13 |
33.3 |
33.41 |
47.43 |
|||
|
- return on assets |
4.63 |
1.21 |
6.86 |
8.56 |
16.45 |
|||
|
- gross profit margin |
12.2 |
3.45 |
10.48 |
10.3 |
21.17 |
|||
|
|
|
|||||||
|
Activity
analysis |
Business
with funding problems |
|||||||
|
- debtor’s days |
125 |
160 |
152 |
57 |
79 |
|||
|
- creditor’s days |
n/a |
n/a |
n/a |
n/a |
125 |
|||
|
Stocks turnover, times/year |
2 |
2 |
3 |
3 |
2 |
|||
|
||||||||
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 61.58 |
|
|
1 |
Rs. 101.09 |
|
Euro |
1 |
Rs. 83.99 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
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 |
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.