|
Report Date : |
11.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
NORBROOK
S.R.O. |
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Formerly Known as : |
PF Services s.r.o. |
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Registered Office : |
Rybitví 323, 533 54 Rybitví |
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Country : |
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|
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Financials (as on) : |
31.07.2012 |
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|
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Date of Incorporation : |
17.12.2003 |
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Com. Reg. No.: |
C 21349 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
· Manufacturer of Chemical Products Procaine Hydrochloride and Benzocaine. Manufacturer of other Organic Basic Chemicals |
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No of Employees : |
61 (2014) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
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Payment Behaviour : |
Slow & Delayed |
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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) |
|
Czech Republic |
A2 |
A2 |
|
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 |
Czech Republic ECONOMIC OVERVIEW
The Czech Republic is a stable and prosperous market economy
closely integrated with the EU, especially since the country's EU accession in
2004. The auto industry is the largest single industry, and, together with its
upstream suppliers, accounts for nearly 24% of Czech manufacturing. The Czech
Republic produced more than a million cars for the first time in 2010, over 80%
of which were exported. While the conservative, inward-looking Czech financial
system has remained relatively healthy, the small, open, export-driven Czech
economy remains sensitive to changes in the economic performance of its main
export markets, especially Germany. When Western Europe and Germany fell into
recession in late 2008, demand for Czech goods plunged, leading to double digit
drops in industrial production and exports. As a result, real GDP fell sharply
in 2009. The economy slowly recovered in the second half of 2009 and registered
weak growth in the next two years. In 2012, however, the economy fell into a
recession again, due both to a slump in external demand and to the government’s
austerity measures. The country pulled out of recession in the second half of
2013, and most analysts expect modest, but steady, growth through 2014. Foreign
and domestic businesses alike voice concerns about corruption, especially in
public procurement. Other long term challenges include dealing with a rapidly
aging population, funding an unsustainable pension and health care system, and
diversifying away from manufacturing and toward a more high-tech,
services-based, knowledge economy.
|
Source : CIA |
Norbrook s.r.o.
Rybitví 323
533 54 Rybitví
telephone: 00420/ 466 824 190
telefax: 00420/ 466 822 997
e-mail: k.soukupova@norbrookczech.com
Web: www.norbrookczech.com
|
Company
development |
Constant company
development |
|
|
Order situation |
Satisfactory
order situation |
|
|
Terms of payment |
with delays, partly
reminders of open invoices |
|
|
Business
connection |
Credits require
securities |
|
|
Legal form |
Private limited company |
|
|
Foundation |
17/12/2003 - Private limited company |
|
Comp. Register |
28/06/2005, Krajský soud Hradec
Králové, RegNr.: C 21349 |
|
Share Capital |
17/12/2003 |
CZK |
200 000,- |
|
|
Shareholders |
Norbrook
Laboratories Limited |
CZK |
200 000,- |
|
|
Management |
Edward Haughey (05.01.1944) |
|
|
Martin Murdock (25.02.1962) |
|
General Data |
Manufacture of chemical products Procaine
Hydrochloride and Benzocaine. |
||
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Main activity: |
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|
Former name(s) |
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|
Trade name(s) |
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Export: |
100% |
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Import: |
|
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General
contacts: |
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Address: |
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|
Klimentská 46, 110 02 Praha 1 |
||
|
Staff |
2007 |
59 employees |
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|
|
2008 |
58 employees |
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2009 |
55 employees |
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2011 |
57 employees |
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2012 |
59 employees |
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2013 |
60 employees |
|
|
2014 |
61 employees |
|
Annual Sales |
2006 |
actual sales |
CZK |
116 031 000,- |
|
|
|
2007 |
actual sales |
CZK |
88 008 000,- |
|
|
|
2008 |
actual sales |
CZK |
130 365 000,- |
|
|
|
2009 |
actual sales |
CZK |
109 240 000,- |
|
|
|
2010 |
actual sales |
CZK |
158 779 000,- |
|
|
|
2011 |
actual sales |
CZK |
166 173 000,- |
|
|
|
2012 |
actual sales |
CZK |
135 583 000,- |
|
|
|
2013 |
actual sales |
CZK |
135 000 000,- |
|
|
|
The company uses
business year 01.08. - 31.07. |
|
Remarks |
The company does
not provide its current final accounts even upon a direct request. |
|
|
In 2005, there
was buy-off of the production plant of the company |
|
|
Bankers |
UniCredit Bank Czech Republic and
Slovakia, a.s. |
|
|
Copyright:
s.r.o. Praha |
This information is addressed exclusively to the addressee. Contractor obligates to provide updated information. Although it is always put maximum effort to collect actual and exact information, it is not confirmed as delinquency if there are particular inaccurateness contained within the information, which are not considered as essential in terms of the objective for which the information is provided to the addressee. Contractor and recipient conform to the rules of the Name and Description Security Act, Nub.101/2000. According to the Name and Description Security Act, recipient has the right to process or to use forwarding data only for the purpose for which information has been sent to the recipient. Usage for other purpose is acceptable only in case referring to valid regulations of the above mentioned act. |
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|
Balance |
31.07.2010 (CZK) |
31.07.2011 (CZK) |
31.07.2012 (CZK) |
|
|
r1 |
TOTAL ASSETS |
260 854 000 |
123 872 000 |
247 359 000 |
|
|
r2 |
Receivables for subscriptions |
0 |
0 |
0 |
|
|
r3 |
Fixed assets |
84 907 000 |
87 346 000 |
80 456 000 |
|
|
r4 |
Intangible fixed
assets |
1 530 000 |
1 406 000 |
1 283 000 |
|
|
r8 |
Valuable rights |
|
1 406 000 |
1 283 000 |
|
|
r10 |
Other intangible fixed assets |
1 530 000 |
|
|
|
|
r13 |
Tangible fixed
assets |
83 377 000 |
85 940 000 |
79 173 000 |
|
|
r14 |
Lands |
0 |
0 |
0 |
|
|
r15 |
Constructions |
23 087 000 |
22 577 000 |
22 068 000 |
|
|
r16 |
Equipment |
57 002 000 |
48 566 000 |
42 181 000 |
|
|
r20 |
Tangible fixed assets under construction |
3 217 000 |
12 832 000 |
12 959 000 |
|
|
r21 |
Advance payments for tangible fixed assets |
71 000 |
1 965 000 |
1 965 000 |
|
|
r23 |
Long-term
financial assets |
0 |
0 |
0 |
|
|
r31 |
Current assets |
174 794 000 |
35 432 000 |
165 748 000 |
|
|
r32 |
Inventory |
50 139 000 |
22 017 000 |
77 961 000 |
|
|
r33 |
Materials |
4 445 000 |
15 604 000 |
13 032 000 |
|
|
r34 |
Work in progress and semi-products |
2 083 000 |
2 729 000 |
4 056 000 |
|
|
r35 |
Finished products |
43 611 000 |
3 684 000 |
60 873 000 |
|
|
r39 |
Long-term
receivables |
0 |
0 |
0 |
|
|
r48 |
Short-term
receivables |
118 005 000 |
11 667 000 |
86 620 000 |
|
|
r49 |
Trade receivables |
116 430 000 |
9 705 000 |
83 123 000 |
|
|
r54 |
Due from state - tax receivable |
1 250 000 |
1 501 000 |
2 781 000 |
|
|
r55 |
Short-term deposits given |
|
3 000 |
3 000 |
|
|
r56 |
Estimated receivable |
325 000 |
301 000 |
325 000 |
|
|
r57 |
Other receivables |
|
157 000 |
388 000 |
|
|
r58 |
Short-term
financial assets |
6 650 000 |
1 748 000 |
1 167 000 |
|
|
r59 |
Cash |
38 000 |
60 000 |
42 000 |
|
|
r60 |
Bank accounts |
6 612 000 |
1 688 000 |
1 125 000 |
|
|
r63 |
Accruals |
1 153 000 |
1 094 000 |
1 155 000 |
|
|
r64 |
Deferred expenses |
1 153 000 |
1 094 000 |
1 155 000 |
|
|
r67 |
TOTAL
LIABILITIES |
260 854 000 |
123 872 000 |
247 359 000 |
|
|
r68 |
Equity |
37 772 000 |
51 770 000 |
66 033 000 |
|
|
r69 |
Registered
capital |
200 000 |
200 000 |
200 000 |
|
|
r70 |
Registered capital |
200 000 |
200 000 |
200 000 |
|
|
r73 |
Capital funds |
4 500 000 |
4 500 000 |
4 500 000 |
|
|
r75 |
Other capital funds |
4 500 000 |
4 500 000 |
4 500 000 |
|
|
r78 |
Reserve funds,
statutory reserve account for cooperatives, and other retained earnings |
10 000 |
20 000 |
20 000 |
|
|
r79 |
Legal reserve fund / indivisible fund |
10 000 |
20 000 |
20 000 |
|
|
r81 |
Profit / loss -
previous years |
1 795 000 |
33 052 000 |
47 050 000 |
|
|
r82 |
Retained earnings from previous years |
18 279 000 |
49 536 000 |
63 534 000 |
|
|
r83 |
Accumulated losses from previous years |
-16 484 000 |
-16 484 000 |
-16 484 000 |
|
|
r84 |
Profit / loss -
current year (+/-) |
31 267 000 |
13 998 000 |
14 263 000 |
|
|
r85 |
Liabilities |
223 082 000 |
72 102 000 |
181 326 000 |
|
|
r86 |
Reserves |
0 |
0 |
1 453 000 |
|
|
r90 |
Other reserves |
|
|
1 453 000 |
|
|
r91 |
Long-term
payables |
6 496 000 |
5 881 000 |
5 267 000 |
|
|
r101 |
Deferred tax liability |
6 496 000 |
5 881 000 |
5 267 000 |
|
|
r102 |
Short-term
payables |
216 586 000 |
66 221 000 |
174 606 000 |
|
|
r103 |
Trade payables |
56 366 000 |
9 591 000 |
67 016 000 |
|
|
r104 |
Payables to controlled and managed
organizations |
146 642 000 |
43 332 000 |
96 847 000 |
|
|
r107 |
Payroll |
1 058 000 |
1 089 000 |
1 190 000 |
|
|
r108 |
Payables to social securities and health
insurance |
601 000 |
632 000 |
660 000 |
|
|
r109 |
Due from state - tax liabilities and
subsidies |
2 858 000 |
3 556 000 |
1 050 000 |
|
|
r112 |
Estimated payables |
9 061 000 |
8 021 000 |
7 843 000 |
|
|
r114 |
Bank loans and
financial accommodations |
0 |
0 |
0 |
|
|
r115 |
Long-term bank loans |
0 |
0 |
0 |
|
|
r116 |
Short-term bank loans |
0 |
0 |
0 |
|
|
r117 |
Short-term accommodations |
0 |
0 |
0 |
|
|
r118 |
Accruals |
0 |
0 |
0 |
|
|
|
profit/loss
account |
31.07.2010 (CZK) |
31.07.2011 (CZK) |
31.07.2012 (CZK) |
|
|
a1 |
Turnover |
158 779 000 |
166 173 000 |
135 583 000 |
|
|
a2 |
Revenues from sold goods |
0 |
0 |
0 |
|
|
a3 |
Expenses on sold goods |
0 |
0 |
0 |
|
|
a4 |
Sale margin |
0 |
0 |
0 |
|
|
a5 |
Production |
172 727 000 |
126 892 000 |
194 099 000 |
|
|
a6 |
Revenues from own products and services |
158 779 000 |
166 173 000 |
135 583 000 |
|
|
a7 |
Change in inventory of own products |
13 948 000 |
-39 281 000 |
58 516 000 |
|
|
a9 |
Production
consumption |
99 363 000 |
80 217 000 |
130 545 000 |
|
|
a10 |
Consumption of material and energy |
81 399 000 |
59 870 000 |
105 314 000 |
|
|
a11 |
Services |
17 964 000 |
20 347 000 |
25 231 000 |
|
|
a12 |
Added value |
73 364 000 |
46 675 000 |
63 554 000 |
|
|
a13 |
Personnel
expenses |
21 735 000 |
22 430 000 |
23 834 000 |
|
|
a14 |
Wages and salaries |
15 880 000 |
16 281 000 |
17 293 000 |
|
|
a16 |
Social security expenses and health
insurance |
5 355 000 |
5 601 000 |
5 994 000 |
|
|
a17 |
Other social expenses |
500 000 |
548 000 |
547 000 |
|
|
a18 |
Taxes and fees |
54 000 |
60 000 |
56 000 |
|
|
a19 |
Depreciations of intangible and tangible
assets |
10 755 000 |
9 551 000 |
8 566 000 |
|
|
a20 |
Revenues from
disposals of fixed assets and materials |
0 |
0 |
102 000 |
|
|
a21 |
Revenues from disposals of fixed assets |
|
|
102 000 |
|
|
a23 |
Net book value
of disposed fixed assets and materials |
0 |
0 |
149 000 |
|
|
a24 |
Net book value of sold fixed assets |
|
|
149 000 |
|
|
a26 |
Change in operating reserves and
adjustments and complex deferred costs ( + / - ) |
-1 013 000 |
981 000 |
1 165 000 |
|
|
a27 |
Other operating revenues |
0 |
64 000 |
17 000 |
|
|
a28 |
Other operating expenses |
1 002 000 |
971 000 |
1 070 000 |
|
|
a31 |
Operating profit
/ loss |
40 831 000 |
12 746 000 |
28 833 000 |
|
|
a43 |
Interest revenues |
0 |
0 |
4 000 |
|
|
a44 |
Interest expenses |
1 532 000 |
919 000 |
905 000 |
|
|
a45 |
Other financial revenues |
5 075 000 |
17 883 000 |
5 872 000 |
|
|
a46 |
Other financial expenses |
4 963 000 |
12 240 000 |
15 849 000 |
|
|
a49 |
Profit / loss from
financial operations ( transactions ) |
-1 420 000 |
4 724 000 |
-10 878 000 |
|
|
a50 |
Income tax on
ordinary income |
8 144 000 |
3 472 000 |
3 692 000 |
|
|
a51 |
Due tax |
2 727 000 |
4 086 000 |
4 306 000 |
|
|
a52 |
Tax deferred |
5 417 000 |
-614 000 |
-614 000 |
|
|
a53 |
Operating profit
/ loss ordinary activity |
31 267 000 |
13 998 000 |
14 263 000 |
|
|
a59 |
Operating profit
/ loss extraordinary activity |
0 |
0 |
0 |
|
|
a61 |
Profit / loss of
current accounting period (+/-) |
31 267 000 |
13 998 000 |
14 263 000 |
|
|
a62 |
Profit / loss
before tax (+/-) |
39 411 000 |
17 470 000 |
17 955 000 |
|
|
|
Operating cash
flow |
11 403 000 |
|
|
|
|
|
Investment cash
flow |
-6 401 000 |
|
|
|
|
|
Financial cash
flow |
0 |
|
|
|
|
|
Receivables
after due date total |
|
1 968 000 |
33 035 000 |
|
|
|
Receivables more than 180 days after due
date |
|
172 000 |
1 213 000 |
|
|
|
Liabilities
after due date total |
|
1 822 000 |
51 997 000 |
|
|
|
Liabilities more than 180 days after due
date |
|
497 000 |
13 274 000 |
|
|
Balance indices |
|
31.07.2010 |
31.07.2011 |
31.07.2012 |
|
|
Return on total assets ROA (in %) |
a62/r1 * 100 |
15,11 |
14,10 |
7,26 |
|
|
Return on equity ROE (in %) |
a62/r68 * 100 |
104,34 |
33,75 |
27,19 |
|
|
Return on sales ROS (in %) |
a62/a1 * 100 |
24,82 |
10,51 |
13,24 |
|
|
Turnover of receivables (in days) |
r49/a1 * 365 |
267,65 |
21,32 |
223,77 |
|
|
Turnover of liabilities (in days) |
r103/a1 * 365 |
129,57 |
21,07 |
180,41 |
|
|
Turnover of inventories (days) |
r32/a1 * 365 |
115,26 |
48,36 |
209,88 |
|
|
Net working capital (in ths. CZK) |
r31 - r102 - r116 - r117 |
-41 792,00 |
-30 789,00 |
-8 858,00 |
|
|
Ratio of accounts payable to accounts
receivable (in %) |
(r39+r48) / (r91+r102) * 100 |
52,90 |
16,18 |
48,16 |
|
|
Ratio of profit/loss to tangible assets
(in%) |
r3 / a1 * 100 |
53,48 |
52,56 |
59,34 |
|
|
Current ratio |
r31 / (r102+r116+r117) |
0,81 |
0,54 |
0,95 |
|
|
Quick ratio |
(r58+r48) / (r102+r116+r117) |
0,58 |
0,20 |
0,50 |
|
|
Cash ratio |
r58 / (r102+r116+r117) |
0,03 |
0,03 |
0,01 |
|
|
Debt ratio I (in %) |
(1-r68/r67) * 100 |
85,52 |
58,21 |
73,30 |
|
|
Debt ratio II (in %) |
r85/r67 * 100 |
85,52 |
58,21 |
73,30 |
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.88 |
|
UK Pound |
1 |
Rs.102.59 |
|
Euro |
1 |
Rs.81.69 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.