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Report Date : |
25.09.2014 |
IDENTIFICATION DETAILS
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Name : |
KOLHIDA-SLIVEN AD |
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Registered Office : |
J.K. Industrialna Zona 8800 |
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Country : |
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Financials (as on) : |
2013 |
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Date of Incorporation : |
1991 |
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Com. Reg. No.: |
2240 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Subject is engaged in preparation and spinning of textile
fibres |
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No. of Employees : |
176 |
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 : |
Slow but correct |
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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 – June 1, 2014
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Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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Bulgaria |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
BULGARIA - ECONOMIC
OVERVIEW
Bulgaria, a former Communist country
that entered the EU on 1 January 2007, averaged more than 6% annual growth from
2004 to 2008, driven by significant amounts of bank lending, consumption, and
foreign direct investment. Successive governments have demonstrated a
commitment to economic reforms and responsible fiscal planning, but the global
downturn sharply reduced domestic demand, exports, capital inflows, and
industrial production. GDP contracted by 5.5% in 2009, and has been slow to
recover in the years since. Despite having a favorable investment regime,
including low, flat corporate income taxes, significant challenges remain.
Corruption in public administration, a weak judiciary, and the presence of
organized crime continue to hamper the country's investment climate and economic
prospects
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Source
: CIA |
KOLHIDA-SLIVEN AD
International Name: KOLCHIDA-SLIVEN JSC
Principal Address:
J.K. INDUSTRIALNA ZONA
8800
Telephone: +359-44-622395, +359-44-619200
Fax: +359-44-624019
Email: kolhida-slinen@mbox.contact.bg
Registered office:
J.K. INDUSTRIALNA ZONA
8800
Telephone: +359-44-622395,
+359-44-619200
Fax: +359-44-624019
Email: kolhida-slinen@mbox.contact.bg
ICON number: 15491970
National ID: 829054281
VAT number: BG829054281
Registration status: 1991 - registered company
Activity status: 1991 -
active company
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Date of Last Research: |
23.09.2014 |
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Management: |
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Person functions in other companies: |
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Insolvency Information: |
According to available information sources the company is not in a insolvency/preliminary/debt regulation proceeding. |
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Capital: |
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Shareholders: |
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Payment Practices: |
No adverse payment incidents known at this time |
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Debt Collection |
There is no record of any debt collection action by Bulgaria Credit Management Services EOOD against this company. |
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Related Companies: |
Shareholder is |
Financials:
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Amounts shown in Euro (EUR) |
2013 |
2012 |
2011 |
2010 |
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ASSETS |
5.452.727,65 |
4.867.007,67 |
4.068.542,20 |
4.211.253,20 |
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Fixed assets |
1.841.673,50 |
1.879.795,40 |
1.897.698,21 |
2.312.531,97 |
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Intangible assets |
0,00 |
0,00 |
1.023,02 |
0,00 |
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Tangible assets |
1.778.609,52 |
1.813.299,23 |
1.826.598,47 |
2.239.386,19 |
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Financial assets |
63.063,99 |
66.496,16 |
70.076,73 |
73.145,78 |
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CURRENT ASSETS |
3.611.054,14 |
2.987.212,28 |
2.170.843,99 |
1.898.721,23 |
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Stock |
2.807.629,20 |
2.358.567,77 |
1.664.450,13 |
1.220.460,36 |
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Receivables |
720.877,77 |
563.682,86 |
457.800,51 |
652.685,42 |
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Other assets |
26.661,20 |
42.455,24 |
40.920,72 |
18.414,32 |
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LIABILITIES |
5.452.727,65 |
4.867.007,67 |
4.068.542,20 |
4.211.253,20 |
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Shareholders funds |
2.438.986,87 |
2.203.069,05 |
1.673.145,78 |
1.473.145,78 |
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Share capital |
1.039.274,00 |
1.036.828,64 |
1.036.828,64 |
1.036.828,64 |
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Reserves |
182.526,66 |
157.544,76 |
104.347,83 |
104.347,83 |
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Total long term debts |
1.957.034,45 |
1.914.066,50 |
1.578.516,62 |
1.833.248,08 |
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Total short term debts |
1.056.706,32 |
749.872,12 |
816.879,80 |
904.859,34 |
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Turnover |
7.373.872,03 |
7.593.350,38 |
7.875.191,82 |
5.154.987,21 |
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Production |
7.004.716,98 |
6.910.485,93 |
7.473.145,78 |
4.846.547,31 |
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Purchases |
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5.429.156,01 |
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General costs |
7.004.716,98 |
1.481.329,92 |
7.473.145,78 |
4.846.547,31 |
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Operating profit |
369.155,05 |
682.864,45 |
402.046,04 |
308.439,90 |
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Financial result / Financial costs |
-139.971,29 |
-154.987,21 |
-179.539,64 |
-203.580,56 |
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Extraordinary result / profit |
0,00 |
2.046,04 |
0,00 |
511,51 |
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Pretax profit / loss |
229.183,76 |
529.923,27 |
222.506,39 |
105.370,84 |
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Taxes |
23.072,19 |
53.196,93 |
22.506,39 |
11.253,20 |
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Profit / loss after tax |
206.111,57 |
476.726,34 |
200.000,00 |
94.117,65 |
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Industry average |
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2013 |
2012 |
2011 |
2010 |
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2013 |
2012 |
2011 |
2010 |
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LIQUIDITY |
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Current ratio |
3,42 |
3,98 |
2,66 |
2,10 |
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1,57 |
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Quick ratio |
0,76 |
0,84 |
0,62 |
0,75 |
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0,72 |
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Cash ratio |
0,03 |
0,06 |
0,05 |
0,02 |
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0,22 |
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Net working capital |
EUR 2.554,35 |
EUR 2.237,34 |
EUR 1.353,96 |
EUR 993,86 |
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PROFITABILITY |
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Gross profit margin |
27,19 |
30,50 |
27,07 |
93,25 |
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EBITDA Margin (%) |
7,98 |
12,66 |
11,33 |
10,40 |
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EBIT Margin (%) |
5,01 |
8,99 |
5,11 |
5,98 |
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Net Profit Margin (%) |
2,80 |
6,28 |
2,54 |
1,83 |
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ROE (%) |
8,45 |
21,64 |
11,95 |
6,39 |
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13,33 |
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ROA (%) |
3,78 |
9,80 |
4,92 |
2,23 |
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6,93 |
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ROFA (%) |
11,19 |
25,36 |
10,54 |
4,07 |
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INDEBTNESS |
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Equity ratio |
0,45 |
0,45 |
0,41 |
0,35 |
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Debt / EBITDA ratio |
- |
2,86 |
- |
- |
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Total Liabilities/Total
Assets |
0,55 |
0,55 |
0,59 |
0,65 |
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0,55 |
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Debt/Equity |
1,24 |
1,21 |
1,43 |
1,86 |
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2,20 |
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Gearing ratio 2 (Bank
Loans to Capital) |
1,01 |
0,89 |
1,14 |
1,36 |
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Leverage |
0,80 |
0,87 |
0,94 |
1,24 |
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Interest coverage ratio
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2,50 |
4,32 |
2,11 |
1,49 |
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EBITDA-to-Interest
Coverage Ratio |
3,98 |
6,08 |
4,68 |
2,59 |
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ACTIVITY |
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Collection Period (in
days) |
35,68 |
27,10 |
21,22 |
46,21 |
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Payables turnover (in
days) |
26,98 |
37,96 |
22,04 |
606,54 |
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Inventory rotation (in
days) |
190,88 |
163,11 |
105,78 |
1.280,72 |
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Cash conversion cycle |
199,59 |
152,25 |
104,96 |
720,39 |
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Asset turnover |
1,35 |
1,56 |
1,94 |
1,22 |
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Fixed Assets Turnover
Ratio |
4,00 |
4,04 |
4,15 |
2,23 |
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Approximate Exchange Rates: |
2013: 1,9504 BGN = 1
EUR |
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Currency Conversion Information: |
Financial values have
been converted to EUR. |
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Further Rating Information: |
Researched company is categorized
as a medium sized company. |
COMPANY DETAILS
|
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Established: |
1991 |
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Registration: |
No. 2240 |
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Legal Form: |
joint stock company |
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History: |
Established before 1989
as a state company. |
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Subject of Operation: |
NACE |
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Workforce: |
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VAT registration details: |
01.04.1994 |
N/a
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.02 |
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1 |
Rs.99.99 |
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Euro |
1 |
Rs.78.37 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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Report Prepared
by : |
NIS |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation
is considered normal. Capable to meet normal commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
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.