MIRA
INFORM REPORT
|
Report No. : |
333522 |
|
Report Date : |
30.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
RIDAKOM LTD |
|
|
|
|
Registered Office : |
Ul.Koloman 1, Administrativna Sgrada Slavia, Office 217
1618 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
23.02.2006 |
|
|
|
|
Legal Form : |
Sole Proprietor Limited
Liability Company (EOOD) |
|
|
|
|
Line of Business : |
Wholesale of pharmaceutical goods. |
|
|
|
|
No. of Employees : |
9 |
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, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Bulgaria |
|
|
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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.
|
Source
: CIA |
COMPANY DETAILS
Local
name: RIDAKOM EOOD
International
name: RIDAKOM LTD
Registered
address:
ul.Koloman 1, administrativna
sgrada Slavia, office 217
1618 SOFIA
Bulgaria
Telephone: +359-2/ 9559998
Fax: +359 2/ 958 65 68
E-Mail: info@ridacom.com
Internet: http://www.ridacom.com
ESTABLISHMENT
& REGISTRATION:
Established: 23.02.2006
Registered at Sofia town court
Court number 2143/2006
Bulstat/VAT number: 175040885
Status
of the company:
Active
LEGAL
FORM:
Sole Proprietor Limited
Liability Company (EOOD)
REGISTERED
CAPITAL:
BGN 5 000.00
SHAREHOLDERS/MANAGEMENT
SHAREHOLDERS:
DECHO PETROV DECHEV
ID 5008225785, Function: Sole
proprietor, Nationality: Bulgaria
Share: 100,00%
MANAGEMENT:
DECHO PETROV DECHEV (Personal ID
5008225785) - Manager
RELATED
COMPANIES:
None
BUSINESS ACTIVITY
BUSINESS
OPERATION:
NACE 1.1: 51.46 Wholesale of
pharmaceutical goods
Activity:
Trade with laboratory tests and
consumables.
NUMBER
OF EMPLOYEES:
|
As
at date |
Value |
|
31.12.2011 |
4 |
|
31.12.2012 |
5 |
|
04.06.2013 |
6 |
|
31.12.2013 |
8 |
|
31.12.2014 |
10 |
|
Latest
stand |
9 |
EXPORT:
None
IMPORT:
EU
REAL
ESTATE:
Own premises.
FINANCIAL DATA
TURNOVER:
|
Year |
Currency |
Value |
|
2009 |
BGN |
0.00 |
|
2011 |
BGN |
678
000.00 |
|
2012 |
BGN |
964
000.00 |
|
2013 |
BGN |
1
279 000.00 |
|
2014 |
BGN |
1 318
000.00 |
MODES
OF PAYMENT:
Payments are made within agreed
terms.
DEBT
COLLECTION:
No debt collection cases are
registered against the company.
BANK
DISTRAINTS:
No shares of the company are
under bank distraint.
UNPAID
TAXES/ CONTRIBUTIONS TO GOVERNMENT:
There is no publication about
overdue unpaid taxes.
INVOLVEMENT
IN LEGAL DISPUTES:
There is no publication about
legal claims or disputes against the company.
OTHER
PAYMENT INFORMATION:
No adverse payment information is
available.
BRANCH
INDICATOR:
The company's payment behaviour
is average for the branch.
GENERAL
PAYMENT ASSESSMENT:
B+
FINANCIAL
OPINION:
B+
CREDIT
LIMIT:
|
Rating |
Description |
Risk
Class |
|
A++ |
Lowest risk. Excellent business. High credit term. |
|
|
A+ |
Lower risk. Old established, stable company |
LOW
RISK |
|
A |
Low risk. Secured business on uptrend |
|
|
B++ |
Risk below normal. Reliable business. Usual credit term. |
|
|
B+ |
Normal risk. Business on uptrend |
MEDIUM
RISK |
|
B |
Normal risk. Average creditworthiness |
|
|
C |
Risk above normal. Caution in dealings. Short term only |
|
|
C- |
High risk. Full security only |
HIGH
RISK |
|
D |
Higher risk. No credit term to be granted |
|
|
F |
Highest risk. Company on the verge of bankruptcy |
|
|
NOR |
No rating. Information is insufficient |
NO
RATING |
Exchange rate since 1998 is 1
BGN (denominated lev) = 0.51 EUR
|
Ratio |
2011 |
2012 |
2013 |
2014 |
|
Accounting
period: |
1.1.2011
- |
1.1.2012
- |
1.1.2013
- |
1.1.2014
- |
|
Debt ratio |
0.04 |
0.11 |
0.07 |
0.12 |
|
Quick ratio |
16.00 |
6.78 |
10.24 |
5.51 |
|
Current ratio |
21.50 |
8.78 |
13.83 |
7.22 |
|
Days purchase in payables |
10.62 |
27.95 |
16.33 |
38.27 |
|
Operating margin in % |
21.83 |
20.36 |
17.04 |
14.12 |
|
Cash ratio (acid ratio) |
4.90 |
3.96 |
3.57 |
1.76 |
|
Return on sales ROS in % |
19.62 |
18.26 |
15.32 |
12.76 |
|
Return on assets ROA in % |
26.13 |
23.36 |
21.26 |
14.40 |
|
Return on equity ROE in % |
27.20 |
26.24 |
22.82 |
16.36 |
|
Days supply in inventory |
58.41 |
55.91 |
58.55 |
65.33 |
|
Days sales in receivables |
117.88 |
78.95 |
108.93 |
143.51 |
|
BALANCE SHEET in BGN'000 |
2011 |
2012 |
2013 |
2014 |
|
Accounting
period: |
1.1.2011
- |
1.1.2012
- |
1.1.2013
- |
1.1.2014
- |
|
A.UNPAID CAPITAL |
|
|
|
|
|
B. FIXED ASSETS |
|
|
|
|
|
I Fixed Intangible Assets: |
|
|
|
|
|
R&D Products |
|
|
|
|
|
Concessions, patents, trade-marks |
|
|
|
|
|
Goodwill |
|
|
|
|
|
Intangible fixed assets under construction |
|
|
|
|
|
thereof advances |
|
|
|
|
|
Total I: |
|
|
|
|
|
II Fixed Tangible Assets |
|
|
|
|
|
Land and Buildings |
74 |
71 |
80 |
76 |
|
thereof Land |
|
|
1 |
1 |
|
thereof Buildings |
74 |
71 |
79 |
75 |
|
Machines, Vehicles |
|
|
|
|
|
Equipment |
5 |
24 |
40 |
80 |
|
Tangible fixed assets under construction |
|
|
|
|
|
thereof advances |
|
|
|
|
|
Total II |
79 |
95 |
120 |
156 |
|
III. Fixed Financial Assets |
|
|
|
|
|
Shares in group companies |
|
|
|
|
|
Loans granted to group companies |
|
|
|
|
|
Shares in joint ventures |
|
|
|
|
|
Long term investments |
|
|
|
|
|
Other loans |
|
|
|
|
|
Bought back own shares |
|
|
|
|
|
Total III |
|
|
|
|
|
IV. Deferred Taxes |
|
|
|
|
|
B. FIXED ASSETS TOTAL |
79 |
95 |
120 |
156 |
|
C. CURRENT ASSETS |
|
|
|
|
|
I. Inventories |
|
|
|
|
|
Raw Materials |
|
|
|
|
|
Work in progress |
|
|
|
|
|
thereof young animals |
|
|
|
|
|
Trading goods |
110 |
148 |
208 |
239 |
|
thereof production |
|
|
|
|
|
thereof goods for sale |
110 |
148 |
208 |
239 |
|
Advances |
|
|
|
|
|
Total I |
110 |
148 |
208 |
239 |
|
II. Receivables |
|
|
|
|
|
Receivables from customers |
205 |
187 |
306 |
422 |
|
thereof more than 1 year |
|
|
|
|
|
Receivables from group companies |
|
|
|
|
|
thereof more than 1 year |
|
|
|
|
|
Receivables from joint ventures |
|
|
|
|
|
thereof more than 1 year |
|
|
|
|
|
Other receivables |
17 |
22 |
81 |
103 |
|
thereof more than 1 year |
|
|
|
|
|
Total II |
222 |
209 |
387 |
525 |
|
III. Current Financial Assets |
|
|
|
|
|
Current investments in related companies |
|
|
|
|
|
Bought back own shares |
|
|
|
|
|
Other current financial assets |
|
|
|
|
|
Total III |
|
|
|
|
|
IV. Cash equivalents |
|
|
|
|
|
Cash and accounts in the country |
98 |
293 |
207 |
247 |
|
thereof cash |
33 |
86 |
136 |
77 |
|
Thereof cash in foreign currency (equivalent) |
|
|
|
|
|
thereof current accounts |
65 |
167 |
39 |
137 |
|
thereof blocked accounts |
|
40 |
32 |
33 |
|
thereof cash equivalents |
|
|
|
|
|
Cash and accounts abroad |
|
|
|
|
|
thereof cash |
|
|
|
|
|
Thereof cash in foreign currency (equivalent) |
|
|
|
|
|
thereof current accounts |
|
|
|
|
|
thereof blocked accounts |
|
|
|
|
|
Total IV |
98 |
293 |
207 |
247 |
|
C. CURRENT ASSETS TOTAL |
430 |
650 |
802 |
1011 |
|
D. Deferred expenses |
|
|
|
|
|
TOTAL ASSETS |
509 |
745 |
922 |
1167 |
|
A. OWNERS EQUITY |
|
|
|
|
|
I. Share capital |
5 |
5 |
5 |
5 |
|
II. Issue premium |
|
|
|
|
|
III. Revaluation reserves |
|
|
|
|
|
thereof revaluation reserves of financial instruments |
|
|
|
|
|
IV. Reserves |
|
|
|
|
|
legal reserves |
|
|
|
|
|
reserve related to bought back own shares |
|
|
|
|
|
reserve from company foundation |
|
|
|
|
|
other reserves |
|
|
|
|
|
Total IV |
|
|
|
|
|
V. Result from previous period |
|
|
|
|
|
Undistributed profit |
351 |
484 |
658 |
854 |
|
Uncovered loss |
|
|
|
|
|
Total V |
351 |
484 |
658 |
854 |
|
VI. Current result profit (loss) |
133 |
174 |
196 |
168 |
|
A. OWNERS EQUITY TOTAL |
489 |
663 |
859 |
1027 |
|
B. PROVISIONS |
|
|
|
|
|
Provisions for pensions |
|
|
|
|
|
Provisions for taxes |
|
|
|
|
|
thereof deferred taxes |
|
|
|
|
|
Other provisions |
|
|
|
|
|
B. PROVISIONS TOTAL |
|
|
|
|
|
C. LIABILITIES |
|
|
|
|
|
Bond-backed loans |
|
|
|
|
|
less than 1 year |
|
|
|
|
|
more than 1 year |
|
|
|
|
|
Bank loans |
|
8 |
5 |
12 |
|
less than 1 year |
|
|
|
12 |
|
more than 1 year |
|
8 |
5 |
|
|
Advances received |
8 |
8 |
12 |
1 |
|
less than 1 year |
8 |
8 |
12 |
1 |
|
more than 1 year |
|
|
|
|
|
Payables to suppliers |
|
12 |
22 |
106 |
|
less than 1 year |
|
12 |
22 |
106 |
|
more than 1 year |
|
|
|
|
|
Liabilities on policies |
|
|
|
|
|
less than 1 year |
|
|
|
|
|
more than 1 year |
|
|
|
|
|
Liabilities to group companies |
|
|
|
|
|
less than 1 year |
|
|
|
|
|
more than 1 year |
|
|
|
|
|
Liabilities to joint-venture companies |
|
|
|
|
|
less than 1 year |
|
|
|
|
|
more than 1 year |
|
|
|
|
|
Other liabilities |
12 |
54 |
24 |
21 |
|
less than 1 year |
12 |
54 |
24 |
21 |
|
more than 1 year |
|
|
|
|
|
thereof to personnel |
|
|
|
|
|
less than 1 year |
|
|
|
|
|
more than 1 year |
|
|
|
|
|
thereof to social insurance |
|
|
1 |
2 |
|
less than 1 year |
|
|
1 |
2 |
|
more than 1 year |
|
|
|
|
|
thereof for taxes |
12 |
54 |
21 |
17 |
|
less than 1 year |
12 |
54 |
21 |
17 |
|
more than 1 year |
|
|
|
|
|
C. LIABILITIES TOTAL |
20 |
82 |
63 |
140 |
|
less than 1 year |
20 |
74 |
58 |
140 |
|
more than 1 year |
|
8 |
5 |
|
|
D. FINANCING AND DEFERRED INCOME |
|
|
|
|
|
thereof |
|
|
|
|
|
Financing |
|
|
|
|
|
Deferred income |
|
|
|
|
|
TOTAL EQUITY AND LIABILITIES |
509 |
745 |
922 |
1167 |
|
P&L ACCOUNT in BGN'000 |
2011 |
2012 |
2013 |
2014 |
|
Accounting
period: |
1.1.2011
- |
1.1.2012
- |
1.1.2013
- |
1.1.2014
- |
|
A. EXPENSES |
|
|
|
|
|
I. OPERATION EXPENSES |
|
|
|
|
|
Decrease of inventories |
|
|
|
|
|
thereof for materials |
22 |
29 |
27 |
38 |
|
thereof for services |
42 |
67 |
66 |
74 |
|
Personnel expenses |
30 |
45 |
59 |
82 |
|
thereof wages |
26 |
38 |
50 |
69 |
|
thereof social insurance |
4 |
7 |
9 |
13 |
|
thereof pensions |
|
|
|
|
|
Depreciation |
6 |
11 |
15 |
30 |
|
thereof Depreciation of fixed assets |
6 |
11 |
15 |
30 |
|
Other expenses |
423 |
608 |
884 |
893 |
|
thereof Book value of sold assets (without production) |
416 |
582 |
874 |
873 |
|
I. OPERATION EXPENSES TOTAL |
523 |
760 |
1051 |
1117 |
|
II. Financial expenditures |
|
|
|
|
|
Depreciation of financial assets |
4 |
6 |
|
3 |
|
thereof exchange rate losses |
4 |
6 |
|
|
|
Paid interest |
4 |
6 |
13 |
13 |
|
thereof interest to group companies |
|
|
|
|
|
Thereof expenditures for securities operations |
|
|
5 |
|
|
II. Financial expenditures Total |
8 |
12 |
13 |
16 |
|
B. Profit on ordinary activity |
148 |
194 |
218 |
186 |
|
III. Extraordinary expenses |
|
|
|
|
|
thereof expenses on disasters and emergency expenses |
|
|
|
|
|
C. Total expenses (I+II+III) |
531 |
772 |
1064 |
1133 |
|
D. Accounting profit |
148 |
194 |
218 |
186 |
|
IV. Taxation on profit |
15 |
20 |
22 |
18 |
|
V. Other taxes |
|
|
|
|
|
E. Net profit |
133 |
174 |
196 |
168 |
|
Total expenses |
679 |
966 |
1282 |
1319 |
|
A. REVENUES |
|
|
|
|
|
I . OPERATING REVENUES |
|
|
|
|
|
Net sales |
678 |
953 |
1279 |
1317 |
|
Production |
|
|
|
|
|
Goods |
673 |
933 |
1271 |
1308 |
|
Services |
5 |
20 |
8 |
9 |
|
Increase of production and work in progress |
|
|
|
|
|
Expenses on acquisition of assets |
|
|
|
|
|
Other revenues |
|
11 |
|
1 |
|
thereof financing |
|
|
|
|
|
I. TOTAL OPERATING REVENUES |
678 |
964 |
1279 |
1318 |
|
II FINANCIAL REVENUES |
|
|
|
|
|
Income from shares |
|
|
|
|
|
thereof income from shares in group companies |
|
|
|
|
|
Income from investments and loans |
|
|
|
|
|
thereof from investments in group companies |
|
|
|
|
|
Income from interest |
|
2 |
3 |
1 |
|
thereof from interest from group companies |
|
|
|
|
|
II FINANCIAL REVENUES TOTAL |
1 |
2 |
3 |
1 |
|
TOTAL REVENUES FROM ORDINARY ACTIVITIES |
679 |
966 |
1282 |
1319 |
|
LOSS |
|
|
|
|
|
Extraordinary revenues |
|
|
|
|
|
AFTER TAX LOSS |
|
|
|
|
|
TOTAL REVENUES |
679 |
966 |
1282 |
1319 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.89 |
|
UK Pound |
1 |
Rs.99.71 |
|
Euro |
1 |
Rs.70.63 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
TRU |
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.