|
Report No. : |
306711 |
|
Report Date : |
07.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
ECO FINMETSRL |
|
|
|
|
Registered Office : |
Calea Prutului 9, 800205 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
28.04.2011 |
|
|
|
|
Com. Reg. No.: |
J17/541/2011 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Engaged in Collection of Non-Hazardous Waste [We tried to confirm / obtain the detailed activity but the same is not available from any sources.] |
|
|
|
|
No of Employees : |
08 (31.12.2013) |
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 : |
Slow but Correct |
|
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Romania |
B1 |
B1 |
|
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 EU
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 due 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. As a result of the global
financial crisis, Romania signed on to a $26 billion emergency assistance
package from the IMF, the EU, and other international lenders. GDP contracted
from 2009 to 2011. 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. In September 2013, the Romanian authorities and the
IMF/EU agreed to a follow-on stand-by agreement, worth $5.4 billion, to
continue with reforms, although Bucharest announced that it does not intend to
draw funds under the agreement. Economic growth accelerated in 2013, driven by
strong industrial exports and an excellent agricultural harvest; in December
2013 inflation dropped to a historical low annual rate of 1.6%; and the current
account deficit was reduced substantially. Yet, progress on structural reforms
is uneven and the economy still is vulnerable to shocks.
|
Source : CIA |
|
ECO FINMETSRL |
Telephone |
+40 753 085116 |
|
Calea Prutului 9 |
|
|
|
800205 Galati Galati |
|
|
|
Romania |
|
|
Registration No. J17/541/2011
Tax No. RO
28401401
Status Active
|
Business connection |
Business connections are not denied |
|
Payment behaviour |
So far no complaints ,recently occasional reminders |
Legal form |
|
|
Private Limited Company |
|
Registration and changes |
|
|
established on
28.04.2011 as ECO FINMET SRL Private Limited Company |
|
|
Name / Address /
Nationality |
From |
Share |
|
Vitali Antonio (birth date 24/02/1959)
MILANO, Italy Italian |
28/04/2011 |
100,000000 % |
|
Currency |
Value |
|
RON |
200 |
|
Name / Address / Status |
Since |
Position |
|
Vitali Antonio (birth date 24/02/1959)
MILANO Italia |
18/04/2011 |
Administrator |
|
Main activity |
Nace |
|
Collection of non-hazardous waste |
3811 |
Economic data |
|
|
|
Turnover and Employees |
|
|
|
Date |
Turnover |
Employees |
|
31.12.2013 |
837.927 RON |
8 |
|
31.12.2012 |
1.194.274 RON |
7 |
|
31.12.2011 |
397.171 RON |
1 |
|
Main indices |
|
|
Payment experience and credit opinion |
|
|
Business connection |
Business connections are not denied |
|
Payment behaviour |
So far no complaints ,recently occasional reminders |
According to the information registered at the Ministry of Finance the
company has overdue debts in amount of 1.231,00 RON to the State (taxes not
paid until 31.12.2014). For this debt the enforcement procedure has been
started.
There are no related to the subject at the Payment Incidents Bureau (CIP) in the period 05.02.2008 - 05.02.2015.
There are no related
to the subject company in our debt collection department.
There are no
records related to the subject company at the Insolvency Proceedings Bulletin.
The subject
company is registered with legal proceedings opened against it, according to
Court Portal .
|
Assets |
|
|
|
|
|
Name |
Ref. |
31/12/2011 RON SHORT |
31/12/2012 RON SHORT |
31/12/2013 RON SHORT |
|
INTANGIBLE FIXED
ASSETS |
r1 |
795 |
1.312 |
120 |
|
TANGIBLE FIXED
ASSETS |
r2 |
2.097 |
11.563 |
13.421 |
|
CAPITAL ASSETS |
r3 |
0 |
0 |
0 |
|
FIXED ASSETS -
TOTAL |
r4 |
2.892 |
12.875 |
13.541 |
|
INVENTORIES |
r5 |
1.216 |
108.393 |
712.319 |
|
RECEIVABLES |
r6 |
300.297 |
270.195 |
299.378 |
|
SHORT-TERM
INVESTMENTS |
r7 |
0 |
0 |
0 |
|
PETTY CASH AND
BANK ACCOUNTS |
r8 |
970 |
75.221 |
4.181 |
|
CURRENT ASSETS -
TOTAL |
r9 |
302.483 |
453.809 |
1.015.878 |
|
PREPAID EXPENSES |
r10 |
0 |
24.214 |
0 |
|
TOTAL ASSETS |
r11 |
305.375 |
490.898 |
1.029.419 |
|
|
|
|
|
|
|
Liabilities |
|
|
|
|
|
|
|
|
|
|
|
Name |
Ref. |
31/12/2011 RON SHORT |
31/12/2012 RON SHORT |
31/12/2013 RON SHORT |
|
DAT.I: AMOUNTS
THAT MUST BE PAID DURING A PERIOD OF MAX. ONE YEAR |
r12 |
302.935 |
483.079 |
1.023.788 |
|
NET CURRENT ASSETS/NET CURRENT DEBTS |
r13 |
-452 |
-5.056 |
-7.910 |
|
TOTAL ASSETS
MINUS CURRENT DEBTS |
r14 |
2.440 |
7.819 |
5.631 |
|
DAT.I: AMOUNTS
THAT MUST BE PAID DURING A PERIOD EXCEEDING ONE YEAR |
r15 |
0 |
0 |
0 |
|
TOTAL DEBTS |
r16 |
302.935 |
483.079 |
1.023.788 |
|
PROVISIONS |
r17 |
0 |
0 |
0 |
|
DEFERRED INCOME,
OF WHICH: |
r18 |
0 |
0 |
0 |
|
- grants related
to investments |
r19 |
0 |
0 |
0 |
|
deferred income |
r20 |
0 |
0 |
0 |
|
CAPITAL, of
which: |
r21 |
200 |
200 |
200 |
|
subscribed and
paid up capital |
r22 |
200 |
200 |
200 |
|
unpaid
subscribed capital |
r23 |
0 |
0 |
0 |
|
assets and
liabilities (public sector companies) |
r24 |
0 |
0 |
0 |
|
CAPITAL PREMIUM |
r25 |
0 |
0 |
0 |
|
REVALUATION
RESERVES |
r26 |
0 |
0 |
0 |
|
RESERVES |
r27 |
0 |
0 |
3.565 |
|
Own shares |
r28 |
0 |
0 |
0 |
|
Earnings
associated to own capital instruments |
r29 |
0 |
0 |
0 |
|
Losses associated
to own capital instruments |
r30 |
0 |
0 |
0 |
|
PROFIT OR LOSS REPORTED Balance account C |
r31 |
0 |
2.240 |
0 |
|
PROFIT OR LOSS REPORTED Balance account D |
r32 |
0 |
0 |
0 |
|
PROFIT OR LOSS FINANCIAL YEAR Balance account C |
r33 |
2.240 |
5.379 |
1.866 |
|
PROFIT OR LOSS FINANCIAL YEAR Balance account D |
r34 |
0 |
0 |
0 |
|
Profit
distribution |
r35 |
0 |
0 |
0 |
|
SHAREHOLDERS'
EQUITY - TOTAL |
r36 |
2.440 |
7.819 |
5.631 |
|
Public patrimony |
r37 |
0 |
0 |
0 |
|
EQUITY-TOTAL |
r38 |
2.440 |
7.819 |
5.631 |
|
TOTAL
LIABILITIES |
r39 |
305.375 |
490.898 |
1.029.419 |
|
Profit and Loss Account |
|
|
|
|
|
|
|
31/12/2011 |
31/12/2012 |
31/12/2013 |
|
Name |
Ref. |
RON |
RON |
RON |
|
|
|
SHORT |
SHORT |
SHORT |
|
Net turnover |
r89 |
397.171 |
1.194.274 |
837.927 |
|
Own work sold |
r90 |
0 |
54.098 |
83.440 |
|
Income from the
sale of goods |
r91 |
397.171 |
1.165.357 |
754.487 |
|
Income from
interests made by leasing |
r92 |
0 |
0 |
0 |
|
Income from grants related to income corresponding to net turnover |
r93 |
0 |
0 |
0 |
|
--Balance
account C |
r94 |
0 |
5.668 |
12.851 |
|
Balance account
D |
r95 |
0 |
0 |
0 |
|
Production made
by the entity for its own purposes and capitalized |
r96 |
0 |
0 |
0 |
|
Other operating
income |
r97 |
0 |
0 |
38.120 |
|
TOTAL OPERATING
INCOME - TOTAL |
r98 |
397.171 |
1.199.942 |
888.898 |
|
Expenses on raw
materials and consumables |
r99 |
130 |
57.952 |
126.502 |
|
Other expenses
for supplies and materials |
r100 |
0 |
21.206 |
4.420 |
|
Other outsourced expenses (electricity and water) |
r101 |
0 |
2.613 |
7.348 |
|
Expenses on
goods |
r102 |
370.374 |
857.237 |
566.502 |
|
Expenses on
personnel, of which: |
r103 |
13.928 |
103.548 |
86.068 |
|
Salaries and
benefits |
r104 |
10.890 |
80.974 |
64.387 |
|
Insurance and
social security expenses |
r105 |
3.038 |
22.574 |
21.681 |
|
Adjustments of
the value of tangible and intangible fixed assets |
r106 |
0 |
0 |
2.710 |
|
Expenses |
r107 |
0 |
0 |
2.710 |
|
Income |
r108 |
0 |
0 |
0 |
|
Adjustments of
the value of current assets |
r109 |
0 |
0 |
0 |
|
Expenses |
r110 |
0 |
0 |
0 |
|
Income |
r111 |
0 |
0 |
0 |
|
Other operating
expenses |
r112 |
10.084 |
161.878 |
161.956 |
|
Expenses on
third party services |
r113 |
9.581 |
159.901 |
146.577 |
|
Expenses on other taxes, duties and similar charges |
r114 |
503 |
738 |
502 |
|
Expenses on
compensations, donations and assigned assets |
r115 |
0 |
1.239 |
14.877 |
|
Expenses with
refinancing interest rates of leasing entities |
r116 |
0 |
0 |
0 |
|
Adjustments of
provisions |
r117 |
0 |
0 |
0 |
|
Expenses |
r118 |
0 |
0 |
0 |
|
income |
r119 |
0 |
0 |
0 |
|
OPERATING
EXPENSES - TOTAL |
r120 |
394.516 |
1.185.737 |
955.506 |
|
- Profit |
r121 |
2.655 |
14.205 |
0 |
|
- Loss |
r122 |
0 |
0 |
66.608 |
|
Income from
participating interests, of which: |
r123 |
0 |
0 |
0 |
|
income obtained
from subsidiaries |
r124 |
0 |
0 |
0 |
|
Income from other financial investments and loans which are part of
intangible fixed assets, of which: |
r125 |
0 |
0 |
0 |
|
income obtained
from subsidiaries |
r126 |
0 |
0 |
0 |
|
Income from
interest rates, of which: |
r127 |
11 |
99 |
4 |
|
income obtained
from subsidiaries |
r128 |
0 |
0 |
0 |
|
Other financial
income |
r129 |
0 |
6.880 |
84.112 |
|
FINANCIAL INCOME
- TOTAL |
r130 |
11 |
6.979 |
84.116 |
|
Value adjustments in respect of capital assets and investments as
current assets |
r131 |
0 |
0 |
0 |
|
Expenses |
r132 |
0 |
0 |
0 |
|
income |
r133 |
0 |
0 |
0 |
|
Interest
expenses |
r134 |
0 |
0 |
0 |
|
of which, expenses
in respect of subsidiaries |
r135 |
0 |
0 |
0 |
|
Other financial
expenses |
r136 |
0 |
14.131 |
12.428 |
|
FINANCIAL
EXPENSES - TOTAL |
r137 |
0 |
14.131 |
12.428 |
|
- Profit |
r138 |
11 |
0 |
71.688 |
|
- Loss |
r139 |
0 |
7.152 |
0 |
|
- Profit |
r140 |
2.666 |
7.053 |
5.080 |
|
- Loss |
r141 |
0 |
0 |
0 |
|
Extraordinary
income |
r142 |
0 |
0 |
0 |
|
Extraordinary
expenses |
r143 |
0 |
0 |
0 |
|
- Profit |
r144 |
0 |
0 |
0 |
|
- Loss |
r145 |
0 |
0 |
0 |
|
TOTAL INCOME |
r146 |
397.182 |
1.206.921 |
973.014 |
|
TOTAL EXPENSES |
r147 |
394.516 |
1.199.868 |
967.934 |
|
- Profit |
r148 |
2.666 |
7.053 |
5.080 |
|
- Loss |
r149 |
0 |
0 |
0 |
|
Income tax |
r150 |
426 |
1.674 |
3.214 |
|
Other taxes
which are not recorded above |
r151 |
0 |
0 |
0 |
|
- Net profit |
r152 |
2.240 |
5.379 |
1.866 |
|
- Net loss |
r153 |
0 |
0 |
0 |
|
Net result |
r154 |
2.240 |
5.379 |
1.866 |
|
Additional information |
|
|
|
|
|
|
|
|
|
|
|
Name |
Ref. |
31/12/2011 RON SHORT |
31/12/2012 RON SHORT |
31/12/2013 RON SHORT |
|
Outstanding
payments-total - TOTAL |
r155 |
0 |
7.357 |
7.221 |
|
Accounts payable outstanding - total, of which: - TOTAL |
r156 |
0 |
0 |
0 |
|
over 30 days -
TOTAL |
r157 |
N/A |
0 |
0 |
|
over 90 days -
TOTAL |
r158 |
N/A |
0 |
0 |
|
over 1 year -
TOTAL |
r159 |
N/A |
0 |
0 |
|
Outstanding payments to social security- total, of which: - TOTAL |
r160 |
0 |
6.520 |
4.652 |
|
contributions to social security payable by employers, employees and
other assimilated entities - TOTAL |
r161 |
0 |
4.660 |
3.319 |
|
contributions to the social health insurance fund - TOTAL |
r162 |
0 |
1.706 |
1.225 |
|
contribution to the additional state pension system - TOTAL |
r163 |
0 |
0 |
0 |
|
contributions to the unemployment insurance fund - TOTAL |
r164 |
0 |
154 |
108 |
|
other social
liabilities - TOTAL |
r165 |
0 |
0 |
0 |
|
Payments due to special funds and other funds - TOTAL |
r166 |
0 |
0 |
56 |
|
Payments due to
other creditors - TOTAL |
r167 |
0 |
0 |
0 |
|
Taxes and fees unpaid to the public budget on the date due - TOTAL |
r168 |
0 |
837 |
2.513 |
|
Taxes and fees unpaid to the local budget on the date due - TOTAL |
r169 |
0 |
0 |
0 |
|
Bank credits which were not reimbursed on the date due - total, of
which: - TOTAL |
r170 |
0 |
0 |
0 |
|
back payments
after 30 days - TOTAL |
r171 |
N/A |
0 |
0 |
|
back payments
after 90 days - TOTAL |
r172 |
N/A |
0 |
0 |
|
back payments
after 1 year - TOTAL |
r173 |
N/A |
0 |
0 |
|
Past due
interest - TOTAL |
r174 |
0 |
0 |
0 |
|
Average number
of employees |
r175 |
1 |
7 |
8 |
|
|
|
|
|
|
|
Financial Ratios |
|
|
|
|
|
|
|
|
|
|
|
Name |
Ref. |
31/12/2011 |
31/12/2012 |
31/12/2013 |
|
Debt Ratio |
R1 |
0,99 |
0,98 |
0,99 |
|
Quick ratio |
R2 |
0,99 |
0,72 |
0,30 |
|
Current ratio |
R3 |
1,00 |
0,94 |
0,99 |
|
Solvency ratio |
R4 |
0,00 |
0,00 |
0,00 |
|
|
|
|
|
|
|
Return on sales
( ROS ) |
R5 |
0,01 |
0,00 |
0,00 |
|
Return on assets
( ROA ) |
R6 |
0,01 |
0,01 |
0,00 |
|
Return on equity
( ROE ) |
R7 |
0,92 |
0,69 |
0,33 |
|
Operating
margin, in (%) |
R8 |
0,01 |
0,01 |
0,00 |
|
Days supply in
inventory |
R9 |
1,12 |
33,13 |
310,29 |
|
Days sales in
receivables |
R10 |
275,97 |
82,58 |
130,41 |
|
Days purchase in
payables |
R11 |
278,40 |
147,64 |
445,96 |
|
SALES TO TOTAL
ASSETS |
R12 |
1,30 |
2,43 |
0,81 |
|
OPERATING
RESULT/TOTAL ASSETS |
R13 |
0,01 |
0,03 |
0,00 |
|
CASH RATIO |
R14 |
0,00 |
0,16 |
0,00 |
|
Equity as % of
total assets |
R15 |
0,80 |
1,59 |
0,55 |
|
Fixed assets as
% of total assets |
R16 |
0,95 |
2,62 |
1,32 |
|
Receivables as %
of current assets |
R17 |
99,28 |
59,54 |
29,47 |
|
Net working
capital |
R18 |
365,00 |
343,10 |
361,35 |
|
Exchange rate |
|
|
|
31/12/2011 |
|
|
|
USD 1,-= RON 3,05 |
|
EUR 1,-= RON 4,24 |
|
|
|
31/12/2012 |
|
|
|
USD 1,-= RON 3,47 |
|
EUR 1,-= RON 4,46 |
|
|
|
31/12/2013 |
|
|
|
USD 1,-= RON 3,33 |
|
EUR 1,-= RON 4,42 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.74 |
|
UK Pound |
1 |
Rs.94.65 |
|
Euro |
1 |
Rs.70.79 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.