|
Report Date : |
15.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
BORCAD CZ S.R.O. |
|
|
|
|
Registered Office : |
Čp.673, 739 45 Fryčovice |
|
|
|
|
Country : |
Czech Republic |
|
|
|
|
Financials (as on) : |
31.03.2013 |
|
|
|
|
Date of Incorporation : |
04.04.2000 |
|
|
|
|
Com. Reg. No.: |
C 22219 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
· Engaged in development, manufacturer and construction of equipment for surgeries - examination armchairs for gynaecology and urology, beds for childbirth, positioning armchairs Manufacturer of seats and beds for passenger railway
coaches. |
|
|
|
|
No of Employees : |
138 (2013) |
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 – 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 |
BORCAD
cz s.r.o.
Čp.673
739 45 Fryčovice
Telephone: 00420/ 558 640 611
Telefax: 00420/ 558 668 087
e-mail: borcad@borcad.cz
Web: www.borcad.cz
|
Company
development |
Positive
business development |
|
|
Order situation |
Satisfactory
order situation |
|
|
Terms of payment |
usually within
agreed terms |
|
Business
connection |
Business
connections are permissible |
|
|
||
|
Legal form |
Private limited company |
|
|
Foundation |
04/04/2000 - Private limited company |
|
Comp. Register |
04/04/2000, Krajský soud v
Ostravě, RegNr.: C 22219 Statistical number:
25855042 Tax
number: CZ25855042 |
|
Events, negative
information |
13.05.2014 - lien on the ownership
interest of shareholders |
||||
|
Share Capital |
04/04/2000 |
CZK |
100 000,- |
|
|
|
|
24/06/2002 |
CZK |
26 100 000,- |
|
|
Shareholders |
BC Project s.r.o.
(Statistical number: 01679325) |
CZK |
13 311 000,- |
|
|
|
IB SEAT, s.r.o.
(Statistical number: 27767248) |
CZK |
12 789 000,- |
|
|
|
Management |
Ing. Ivan Boruta (19.08.1954) |
||||
|
|
Milan Burgár (13.04.1963) |
|
|
Michal
Seltenreich (15.05.1972) |
|
General Data |
· Engaged in development, manufacturer and construction of equipment for surgeries - examination armchairs for gynaecology and urology, beds for childbirth, positioning armchairs Manufacturer of seats and beds for passenger railway
coaches. |
||
|
|
Main activity: |
|
|
|
|
Trade name(s) |
||
|
|
Export: |
69% |
|
|
|
Import: |
|
|
|
|
General
contacts: |
||
|
|
Address: |
||
|
Staff |
2006 |
78 employees |
|
|
|
2007 |
84 employees |
|
|
2008 |
88 employees |
|
|
2010 |
100 employees |
|
|
2012 |
125 employees |
|
|
2013 |
138 employees |
|||||
|
Annual Sales |
2004 |
actual sales |
CZK |
120 483 000,- |
|
||
|
|
2005 |
actual sales |
CZK |
129 437 000,- |
|
|
|
2006 |
actual sales |
CZK |
124 031 000,- |
|
|
|
2007 |
actual sales |
CZK |
200 500 000,- |
|
|
|
2008 |
actual sales |
CZK |
236 898 000,- |
|
|
|
2009 |
actual sales |
CZK |
236 898 000,- |
|
|
|
2010 |
actual sales |
CZK |
223 949 000,- |
|
|
|
2011 |
actual sales |
CZK |
223 148 000,- |
|
|
|
2012 |
actual sales |
CZK |
438 207 000,- |
|
|
|
2013 |
actual sales |
CZK |
342 291 000,- |
|
|
|
|
The company is
not registered in the Central register of executions. |
|||||
|
|
Turnover stated for the
year 2009 relates to a period of 15 months.
|
|
Property |
Property of the company: Business
premises |
|
Remarks |
All the sources of negative data accessible to public (insolvency registers, databases of debtors of health insurance institutions, commercial bulletin, collection database and others) are currently monitored |
|
|
Contact: |
|
Bankers |
Československá obchodní banka, 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. |
|
|
|
Balance |
31.03.2010 (CZK) |
31.03.2011 (CZK) |
31.03.2012 (CZK) |
31.03.2013 (CZK) |
|
r1 |
TOTAL ASSETS |
153 550 000 |
187 460 000 |
247 577 000 |
215 354 000 |
|
r2 |
Receivables for subscriptions |
0 |
0 |
0 |
0 |
|
r3 |
Fixed assets |
58 168 000 |
57 977 000 |
56 440 000 |
58 006 000 |
|
r4 |
Intangible fixed
assets |
1 149 000 |
1 483 000 |
1 198 000 |
1 064 000 |
|
r6 |
Research and development |
|
|
381 000 |
|
|
r7 |
Software |
426 000 |
696 000 |
734 000 |
213 000 |
|
r8 |
Valuable rights |
723 000 |
787 000 |
|
851 000 |
|
r11 |
Intangible fixed assets under construction |
|
|
83 000 |
|
|
r13 |
Tangible fixed
assets |
57 019 000 |
56 494 000 |
55 242 000 |
56 942 000 |
|
r14 |
Lands |
1 584 000 |
1 584 000 |
1 516 000 |
2 115 000 |
|
r15 |
Constructions |
36 894 000 |
34 923 000 |
33 281 000 |
33 615 000 |
|
r16 |
Equipment |
10 089 000 |
12 647 000 |
14 741 000 |
16 414 000 |
|
r20 |
Tangible fixed assets under construction |
540 000 |
532 000 |
|
198 000 |
|
r22 |
Adjustment to acquired assets |
7 912 000 |
6 808 000 |
5 704 000 |
4 600 000 |
|
r23 |
Long-term
financial assets |
0 |
0 |
0 |
0 |
|
r31 |
Current assets |
94 740 000 |
127 747 000 |
189 922 000 |
155 991 000 |
|
r32 |
Inventory |
33 873 000 |
50 798 000 |
82 889 000 |
64 657 000 |
|
r33 |
Materials |
24 167 000 |
38 745 000 |
57 717 000 |
49 126 000 |
|
r34 |
Work in progress and semi-products |
8 052 000 |
8 503 000 |
17 933 000 |
5 650 000 |
|
r35 |
Finished products |
1 296 000 |
3 173 000 |
6 733 000 |
9 573 000 |
|
r37 |
Merchandise |
26 000 |
97 000 |
87 000 |
102 000 |
|
r38 |
Advance payments for inventory |
332 000 |
280 000 |
419 000 |
206 000 |
|
r39 |
Long-term
receivables |
112 000 |
112 000 |
7 000 |
7 000 |
|
r44 |
Long-term deposits given |
112 000 |
112 000 |
7 000 |
7 000 |
|
r48 |
Short-term
receivables |
41 492 000 |
53 548 000 |
63 649 000 |
63 099 000 |
|
r49 |
Trade receivables |
38 001 000 |
48 666 000 |
57 957 000 |
59 395 000 |
|
r54 |
Due from state - tax receivable |
2 380 000 |
3 730 000 |
4 631 000 |
2 387 000 |
|
r55 |
Short-term deposits given |
830 000 |
591 000 |
856 000 |
1 201 000 |
|
r56 |
Estimated receivable |
|
380 000 |
|
|
|
r57 |
Other receivables |
281 000 |
181 000 |
205 000 |
116 000 |
|
r58 |
Short-term
financial assets |
19 263 000 |
23 289 000 |
43 377 000 |
28 228 000 |
|
r59 |
Cash |
1 367 000 |
615 000 |
905 000 |
917 000 |
|
r60 |
Bank accounts |
17 896 000 |
22 674 000 |
42 472 000 |
27 311 000 |
|
r63 |
Accruals |
642 000 |
1 736 000 |
1 215 000 |
1 357 000 |
|
r64 |
Deferred expenses |
642 000 |
1 736 000 |
1 215 000 |
1 237 000 |
|
r65 |
Complex deferred costs |
|
|
0 |
|
|
r66 |
Deferred income |
|
|
0 |
120 000 |
|
r67 |
TOTAL
LIABILITIES |
153 550 000 |
187 460 000 |
247 577 000 |
215 354 000 |
|
r68 |
Equity |
78 276 000 |
90 642 000 |
169 130 000 |
191 610 000 |
|
r69 |
Registered
capital |
26 100 000 |
26 100 000 |
26 100 000 |
26 100 000 |
|
r70 |
Registered capital |
26 100 000 |
26 100 000 |
26 100 000 |
26 100 000 |
|
r73 |
Capital funds |
0 |
0 |
0 |
0 |
|
r78 |
Reserve funds,
statutory reserve account for cooperatives, and other retained earnings |
4 000 000 |
4 000 000 |
4 000 000 |
4 000 000 |
|
r79 |
Legal reserve fund / indivisible fund |
4 000 000 |
4 000 000 |
4 000 000 |
4 000 000 |
|
r81 |
Profit / loss -
previous years |
41 978 000 |
48 175 000 |
60 542 000 |
125 230 000 |
|
r82 |
Retained earnings from previous years |
41 978 000 |
48 175 000 |
60 542 000 |
125 230 000 |
|
r84 |
Profit / loss -
current year (+/-) |
6 198 000 |
12 367 000 |
78 488 000 |
36 280 000 |
|
r85 |
Liabilities |
74 690 000 |
96 582 000 |
77 640 000 |
22 979 000 |
|
r86 |
Reserves |
0 |
0 |
0 |
0 |
|
r91 |
Long-term
payables |
562 000 |
823 000 |
1 143 000 |
1 405 000 |
|
r101 |
Deferred tax liability |
562 000 |
823 000 |
1 143 000 |
1 405 000 |
|
r102 |
Short-term
payables |
34 670 000 |
68 442 000 |
71 497 000 |
21 574 000 |
|
r103 |
Trade payables |
15 668 000 |
30 762 000 |
36 222 000 |
13 292 000 |
|
r106 |
Payables from partners, cooperative members
and association members |
10 100 000 |
10 100 000 |
10 605 000 |
|
|
r107 |
Payroll |
4 723 000 |
6 551 000 |
3 904 000 |
3 289 000 |
|
r108 |
Payables to social securities and health
insurance |
2 168 000 |
2 624 000 |
2 228 000 |
2 106 000 |
|
r109 |
Due from state - tax liabilities and
subsidies |
787 000 |
2 162 000 |
17 263 000 |
1 888 000 |
|
r110 |
Short-term deposits received |
1 224 000 |
16 270 000 |
1 275 000 |
999 000 |
|
r112 |
Estimated payables |
|
-27 000 |
|
|
|
r114 |
Bank loans and
financial accommodations |
39 458 000 |
27 317 000 |
5 000 000 |
0 |
|
r115 |
Long-term bank loans |
16 855 000 |
14 665 000 |
0 |
0 |
|
r116 |
Short-term bank loans |
22 603 000 |
12 652 000 |
5 000 000 |
0 |
|
r117 |
Short-term accommodations |
0 |
0 |
0 |
0 |
|
r118 |
Accruals |
584 000 |
236 000 |
807 000 |
765 000 |
|
r119 |
Accrued expenses |
584 000 |
236 000 |
807 000 |
765 000 |
|
|
profit/loss
account |
31.03.2010 (CZK) |
31.03.2011 (CZK) |
31.03.2012 (CZK) |
31.03.2013 (CZK) |
|
a1 |
Turnover |
223 949 000 |
223 148 000 |
438 207 000 |
342 291 000 |
|
a2 |
Revenues from sold goods |
223 000 |
290 000 |
248 000 |
570 000 |
|
a3 |
Expenses on sold goods |
172 000 |
244 000 |
238 000 |
512 000 |
|
a4 |
Sale margin |
51 000 |
46 000 |
10 000 |
58 000 |
|
a5 |
Production |
223 259 000 |
233 030 000 |
460 256 000 |
338 967 000 |
|
a6 |
Revenues from own products and services |
223 726 000 |
222 858 000 |
437 959 000 |
341 721 000 |
|
a7 |
Change in inventory of own products |
-3 035 000 |
2 402 000 |
12 932 000 |
-9 411 000 |
|
a8 |
Capitalization |
2 568 000 |
7 770 000 |
9 365 000 |
6 657 000 |
|
a9 |
Production
consumption |
134 434 000 |
147 659 000 |
273 554 000 |
210 607 000 |
|
a10 |
Consumption of material and energy |
102 348 000 |
117 933 000 |
236 423 000 |
174 522 000 |
|
a11 |
Services |
32 086 000 |
29 726 000 |
37 131 000 |
36 085 000 |
|
a12 |
Added value |
88 876 000 |
85 417 000 |
186 712 000 |
128 418 000 |
|
a13 |
Personnel
expenses |
69 269 000 |
60 879 000 |
75 967 000 |
74 543 000 |
|
a14 |
Wages and salaries |
56 669 000 |
47 344 000 |
58 987 000 |
56 612 000 |
|
a16 |
Social security expenses and health
insurance |
11 933 000 |
12 809 000 |
16 032 000 |
16 954 000 |
|
a17 |
Other social expenses |
667 000 |
726 000 |
948 000 |
977 000 |
|
a18 |
Taxes and fees |
109 000 |
141 000 |
143 000 |
198 000 |
|
a19 |
Depreciations of intangible and tangible
assets |
7 000 000 |
7 867 000 |
8 892 000 |
9 508 000 |
|
a20 |
Revenues from
disposals of fixed assets and materials |
1 081 000 |
1 267 000 |
3 444 000 |
3 367 000 |
|
a21 |
Revenues from disposals of fixed assets |
|
|
714 000 |
|
|
a22 |
Revenues from disposals of materials |
1 081 000 |
1 267 000 |
2 730 000 |
3 367 000 |
|
a23 |
Net book value of
disposed fixed assets and materials |
557 000 |
770 000 |
3 081 000 |
2 923 000 |
|
a24 |
Net book value of sold fixed assets |
|
|
714 000 |
|
|
a25 |
Net book value of sold material |
557 000 |
770 000 |
2 367 000 |
2 923 000 |
|
a26 |
Change in operating reserves and
adjustments and complex deferred costs ( + / - ) |
1 099 000 |
984 000 |
-1 228 000 |
1 146 000 |
|
a27 |
Other operating revenues |
3 915 000 |
4 421 000 |
1 042 000 |
1 413 000 |
|
a28 |
Other operating expenses |
2 044 000 |
1 556 000 |
2 951 000 |
1 305 000 |
|
a31 |
Operating profit
/ loss |
13 794 000 |
18 908 000 |
101 392 000 |
43 575 000 |
|
a43 |
Interest revenues |
30 000 |
16 000 |
64 000 |
42 000 |
|
a44 |
Interest expenses |
2 309 000 |
2 057 000 |
1 732 000 |
155 000 |
|
a45 |
Other financial revenues |
1 248 000 |
1 697 000 |
4 880 000 |
4 208 000 |
|
a46 |
Other financial expenses |
4 269 000 |
3 393 000 |
6 884 000 |
2 369 000 |
|
a49 |
Profit / loss
from financial operations ( transactions ) |
-5 300 000 |
-3 737 000 |
-3 672 000 |
1 725 000 |
|
a50 |
Income tax on
ordinary income |
2 296 000 |
2 804 000 |
19 232 000 |
9 021 000 |
|
a51 |
Due tax |
1 962 000 |
2 543 000 |
18 912 000 |
8 759 000 |
|
a52 |
Tax deferred |
334 000 |
261 000 |
320 000 |
262 000 |
|
a53 |
Operating profit
/ loss ordinary activity |
6 198 000 |
12 367 000 |
78 488 000 |
36 280 000 |
|
a59 |
Operating profit
/ loss extraordinary activity |
0 |
0 |
0 |
0 |
|
a61 |
Profit / loss of
current accounting period (+/-) |
6 198 000 |
12 367 000 |
78 488 000 |
36 280 000 |
|
a62 |
Profit / loss
before tax (+/-) |
8 494 000 |
15 171 000 |
97 720 000 |
45 301 000 |
|
|
Receivables
after due date total |
5 235 000 |
5 810 000 |
10 352 000 |
10 031 000 |
|
|
Receivables more than 90 days after due
date |
|
|
920 000 |
1 997 000 |
|
|
Liabilities
after due date total |
634 000 |
1 000 |
964 000 |
61 000 |
|
|
Liabilities more than 90 days after due
date |
|
|
0 |
0 |
|
Balance indices |
|
31.03.2010 |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
Return on total assets ROA (in %) |
a62/r1 * 100 |
5,53 |
8,09 |
39,47 |
21,04 |
|
Return on equity ROE (in %) |
a62/r68 * 100 |
10,85 |
16,74 |
57,78 |
23,64 |
|
Return on sales ROS (in %) |
a62/a1 * 100 |
3,79 |
6,80 |
22,30 |
13,23 |
|
Turnover of receivables (in days) |
r49/a1 * 365 |
61,94 |
79,60 |
48,27 |
63,34 |
|
Turnover of liabilities (in days) |
r103/a1 * 365 |
25,54 |
50,32 |
30,17 |
14,17 |
|
Turnover of inventories (days) |
r32/a1 * 365 |
55,21 |
83,09 |
69,04 |
68,95 |
|
Net working capital (in ths. CZK) |
r31 - r102 - r116 - r117 |
37 467,00 |
46 653,00 |
113 425,00 |
134 417,00 |
|
Ratio of accounts payable to accounts
receivable (in %) |
(r39+r48) / (r91+r102) * 100 |
118,09 |
77,47 |
87,63 |
274,62 |
|
Ratio of profit/loss to tangible assets
(in%) |
r3 / a1 * 100 |
25,97 |
25,98 |
12,88 |
16,95 |
|
Current ratio |
r31 / (r102+r116+r117) |
1,65 |
1,58 |
2,48 |
7,23 |
|
Quick ratio |
(r58+r48) / (r102+r116+r117) |
1,06 |
0,95 |
1,40 |
4,23 |
|
Cash ratio |
r58 / (r102+r116+r117) |
0,34 |
0,29 |
0,57 |
1,31 |
|
Debt ratio I (in %) |
(1-r68/r67) * 100 |
49,02 |
51,65 |
31,69 |
11,03 |
|
Debt ratio II (in %) |
r85/r67 * 100 |
48,64 |
51,52 |
31,36 |
10,67 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.88 |
|
UK Pound |
1 |
Rs.100.98 |
|
Euro |
1 |
Rs.82.40 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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 |
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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.