MIRA INFORM REPORT

 

 

Report No. :

319407

Report Date :

06.05.2015

 

IDENTIFICATION DETAILS

 

Name :

KAUNO GRUDAI STOCK COMPANY

 

 

Registered Office :

H. ir O. Minkovskiu str. 63, Kaunas, Kaunas region, Kaunas city municipality, LT- 46550

 

 

Country :

Lithuania

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

15.10.1993

 

 

Com. Reg. No.:

133818917

 

 

Legal Form :

AB (Public Joint-Stock Co. by Lithuanian law)

 

 

Line of Business :
  • Manufacture of grain mill products
  • Manufacture of prepared feeds for farm animals

 

 

No. of Employees :

705

 

 

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 :

Exist

 

 

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)

Lithuania

B1

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

LITHUANIA - ECONOMIC OVERVIEW

 

Lithuania gained membership in the World Trade Organization and joined the EU in May 2004. Lithuania's trade with its Central and Eastern European neighbors, and Russia in particular, accounts for a significant share of total trade. Foreign investment and business support have helped in the transition from the old planned economy to a market economy. The three former Soviet Baltic republics were severely hit by the 2008-09 financial crisis, but Lithuania has rebounded and become one of the fastest growing economies in the EU. Lithuania’s ongoing recovery hinges on export growth, which is being hampered by economic slowdowns in the EU and Russia. Lithuania joined the euro zone on 1 January 2015.

 

Source : CIA

 

Identification

 

Full Name

:

AKCINE BENDROVE "KAUNO GRUDAI"

Name in English

:

"KAUNO GRUDAI" STOCK COMPANY

Name in national language

:

AKCINĖ BENDROVĖ "KAUNO GRŪDAI"

Trading Names, Brands

:

-

KG KAUNO GRUDAI, Aport!, ACTIVUS, KG Group, farina

Company has about 35 registered trade marks.

Office Address

:

H. ir O. Minkovskiu str. 63, Kaunas, Kaunas region, Kaunas city municipality, LT- 46550, Lithuania

Legal Address

:

H. ir O. Minkovskiu str. 63, Kaunas, Kaunas region, Kaunas city municipality, LT- 46550, Lithuania

Contacts

:

-

E-mail

:

info@kggroup.eu

-

Fax

:

(+370 37) 223305, 321156

-

Phone

:

(+370 37) 207846 (accountancy), 223317, 225688

-

WWW

:

http://www.kauno-grudai.lt/

 

 

SUMMARY

 

Legal Form : AB (Public Joint-Stock Co. by Lithuanian law)

Incorporation : 1993

Staff : 705

Litigation events : yes
Remarks on payments : none

 

Sales :

925 301 170.00 LTL ( for 12 months, ended 31.12.2013 )

941 538 446.00 LTL ( for 12 months, ended 31.12.2012 )

 

 

Incorporation

 

1993

 

 

Registration Data

 

Date of registration

:

15.10.1993

Registration number

:

133818917

Registr. authority

:

State Register (Kaunas, Kaunas region, Kaunas city municipality, Lithuania)

/the long number has been assigned to the company after re-registration/

Date of registration

:

01.05.1994

VAT number

:

LT338189113

Registr. authority

:

Tax Board (Kaunas, Kaunas region, Kaunas city municipality, Lithuania)

 

 

Legal Form

 

AB (Public Joint-Stock Co. by Lithuanian law)

since 15.10.1993

 

 

Share Capital

 

16 294 616 LTL (registered)

since n/a

 

 

Shareholders

 

The list of shareholders of this company have not been submitted by the company to the State register. According to information from the company the major shareholder is Mr. Tautvydas Barstys.

 

 

Board / Executives

 

Board

Board Chairman

:

Mr Barstys, Tautvydas (Lithuania)

E-mail: t.barstys@kauno-grudai.lt

Board Member

:

Mr Celkis, Rimantas (Lithuania)

Board Member

:

Mrs Rimdeikiene, Palmyra (Lithuania)

Executives

General Director

:

Mr Barstys, Tautvydas (Lithuania)

E-mail: t.barstys@kauno-grudai.lt

Chief Accountant

:

Mrs Bluziene, Danute (Lithuania)

E-mail: d.bluziene@kggroup.eu

Economic Director

:

Mrs Udriene, Vale (Lithuania)

+370 37 409759 v.udriene@kggroup.eu

Lawyer

:

Mrs Zukauskaite, Asta (Lithuania)

a.zukauskaite@kggroup.lt

 

 

Authorised signature

 

Mr Barstys, Tautvydas

 

 

Changes in Registration Data

 

- 08.11.2010

:

managers

 

Activities

 

-

2041

Flour & Grain Products, NEC

(1561 / NACE_1.1: Manufacture of grain mill products)

(1061 / NACE_2: Manufacture of grain mill products)

-

2048

Prepared Feeds, NEC

(1571 / NACE_1.1: Manufacture of prepared feeds for farm animals)

(1091 / NACE_2: Manufacture of prepared feeds for farm animals)

 

 

AB “Kauno grudai” is currently performing the following activities: The production, retail and wholesale, of wheat and rye flour The production, retail and wholesale, of mixed fodder and balanced seed Purchase and storage of grain Trade of feeding material Services: customs storages, transport rental The company's partners are Lithuanian supermarkets and all the largest poultry growers in the country. The production is exported to Belarus, Poland, Latvia and Great Britain.

AB “Kauno grudai” performs their activities in accordance with: Quality Standard ISO 9001:2000 International Food Standard BRC

 

 

Staff employed

 

705 [E]

 

 

Staff History

 

-

671 [E]

 

( the data as of 01.01.2015 )

-

606 [E]

( the data as of 01.01.2014 )

-

580 [E]

( the data as of 01.01.2013 )

-

480 [E]

( the data as of 01.01.2012 )

-

420 [E]

( the data as of 06.04.2011 )

 

 

Export

 

Netherlands, Belarus, Poland, Latvia, Great Britain, Russian Federation, Estonia, Ireland Republic, Israel
Company exports production to about 20 countries.

 

Facilities

 

Real estate

 

own:

-

Buildings - Office and production

 

Other Property

 

own:

-

Other tools & equipment - Car

quantity

:

69.00 unit(s)

leasing:

-

Other tools & equipment - Car

quantity

:

76.00 unit(s)

rent:

-

Other tools & equipment - Car

quantity

:

40.00 unit(s)

 

 

Branches

 

-

Factory (Kedainiai, Kaunas region, Kedainiai district municipality, Lithuania)

-

Warehouse (Alytus, Alytus region, Alytus city municipality, Lithuania)

-

Warehouse (Jurbarkas, Taurage region, Jurbarkas district municipality, Lithuania)

 

 

Subsidiaries and Participation

 

-

AB ,,Zelve“ (Lithuania)

100.00 %

 

reg. number

:

181323215

 

address

:

Dauciuliskiu vlg., Elektrenai,, Vilnius, Vilnius region, Vilnius city municipality, Lithuania

 

-

AB ,,Kaisiadoriu paukstynas“ (Lithuania)

100.00 %

reg. number

:

158891218

address

:

Paukstininku str. 15, Kaisiadorys, Kaunas region, Kaisiadorys district municipality, Lithuania

-

AB ,,Vilniaus paukstynas“ (Lithuania)

100.00 %

reg. number

:

186107463

address

:

Rudaminos vlg., Vilnius, Vilnius region, Vilnius city municipality, Lithuania

-

UAB Slaituva (Lithuania)

83.00 %

reg. number

:

134019827

-

UAB „East West Agro“ (Lithuania)

51.00 %

-

AB Vievio paukstynas (Lithuania)

24.00 %

reg. number

:

181257637

-

UAB "KG mazmena" (Lithuania)

share n/a

reg. number

:

302602745

-

„Vet-Med“ (Latvia)

share n/a

 

 

Bankers

 

-

AB SEB bankas (Lithuania)

bank code

:

70440

account(s)

:

LT 787044060003093673

-

AB bank "DnB bankas" (Lithuania)

bank code

:

40100

account(s)

:

LT 504010042500060701

-

AB bank "Swedbank" (Lithuania)

bank code

:

73000

account(s)

:

LT 577300010070457114

 

 

Clients

 

-

Kaisiadoriu paukstynas (Lithuania)

/a member of Kauno Grudai group/

-

Vilniaus paukstynas (Lithuania)

/a member of Kauno Grudai group/

 

 

Other associated Companies

 

-

AB ,,Kaisiadoriu paukstynas“ (Lithuania)

address

:

Paukstininku str. 15,, Kaisiadorys, Kaunas region, Kaisiadorys district municipality, Lithuania

reg. number

:

158891218

-

AB ,,Vilniaus paukstynas“ (Lithuania)

address

:

Rudaminos vlg., Vilnius, Vilnius region, Vilnius city municipality, Lithuania

reg. number

:

186107463

-

AB ,,Zelve“ (Lithuania)

address

:

Dauciuliskiu vlg., Elektrenai, Vilnius, Vilnius region, Vilnius city municipality, Lithuania

reg. number

:

181323215

 

 

 

KG group companies: Company in Belarus

 

 

Litigation

 

Yes

 

Case number: 2-56-3-00254-2014-4 | 2-842-273/2015 Court name: Kaunas district court Date: 2015-02-23 Case summary: damage compensation Case parties: Defendant: Kauno grudai; Plaintiff: Vilkyciu mesa Case number: 2-55-3-01029-2012-2 | 2A-302-186/2015 Court name: Lithuanian court of appeal Date: 2015-02-10 Case summary: annulment of the contract and restitution application Case parties: Defendant: "Kauno grudai"; Plaintiff: Insolvent "Vievio paukstynas" Case number: 2-55-3-01505-2012-1 | 2-15-590/2015 Court name: Vilnius district court Date: 2015-04-02 Case summary: annulment of the contract and loses compensation Case parties: Defendant: "Imoniu bankroto administravimo ir teisiniu paslaugu biuras"; Defendant: "Kauno grudai"; Plaintiff: Bankrutuojanti "Vievio paukstynas" Nuosprendis 2015-04-02 / Ieškinys patenkintas iš dalies. Case number: 2-56-3-00254-2014-4 | 2-842-273/2015 Court name: Kaunas district court Date: 2015-03-19 Case summary: loses compensation Case parties: Defendant: Kauno grudai; Plaintiff: Vilkyciu mesa Nuosprendis 2015-03-19 / Laikinosios apsaugos priemonės panaikintos.

 

 

Remarks on payment

 

None

 

 

Business mortgages

 

There is 1 active property seizure act registered in official sources: Registration date: 30.04.2012 Amount: n/a

 

 

Financial Elements

 

Period, months

12

12

12

Ended

31.12.2013

31.12.2012

31.12.2011

Currency

LTL

LTL

LTL

Non-current assets

102 521 515.00

91 734 927.00

87 860 551.00

  incl: - Fixed assets

71 333 362.00

60 461 904.00

57 797 046.00

        - Financial assets

30 774 659.00

30 815 299.00

29 827 002.00

Current assets

357 188 919.00

359 686 824.00

281 445 331.00

  incl: - Stock

148 131 499.00

168 046 039.00

116 209 850.00

        - Debtors

203 541 301.00

190 889 022.00

162 484 033.00

        - Cash

5 516 119.00

751 763.00

2 751 448.00

ASSETS TOTAL

459 710 434.00

451 421 751.00

369 305 882.00

Equity

156 320 892.00

135 482 344.00

114 744 336.00

  incl: - Share capital

16 294 616.00

16 294 616.00

16 294 616.00

Liabilities Total

301 112 105.00

313 029 188.00

251 662 931.00

  incl: - Long-term liabilities

35 941 643.00

23 503 574.00

30 830 231.00

        - Short-term liabilities

265 170 462.00

289 525 614.00

220 832 700.00

EQUITY AND LIABILITIES TOTAL

459 710 434.00

451 421 751.00

369 305 882.00

Net sales

925 301 170.00

941 538 446.00

818 566 680.00

Cost of goods sold

864 605 716.00

876 874 390.00

759 243 904.00

Operating profit

24 818 507.00

29 296 419.00

33 186 962.00

Profit before taxation

23 339 471.00

23 961 038.00

27 609 718.00

Net profit

21 444 893.00

20 738 008.00

24 286 405.00

- - - - - - - KEY RATIOS - - - - - - -

Return on sales, %

2.52

2.54

3.37

  Profit before taxation / Net sales

Operating margin of profit, %

2.68

3.11

4.05

  Operating profit / Net sales

Return on investment, %

14.93

17.69

24.06

  Profit before taxation / Equity

Current assets turnover

2.59

2.62

2.91

  Net sales / Current assets

Working capital

92 018 457.00

70 161 210.00

60 612 631.00

  Current assets - Short-term liabilities

Leverage

0.34

0.30

0.31

  Equity / Total assets

Current ratio

1.35

1.24

1.27

  Current assets / Short-term liabilities

Quick ratio

0.79

0.66

0.75

  (Current assets - Stock) / Short-term liabilities

Debt-to-equity ratio

1.93

2.31

2.19

  Total liabilities / Equity

 

 

Income range of the subject (LTL): 700,000,001-900,000,000 /2011-12-31/ 500,000,001-700,000,000 /2010-12-31/ 300,000,001-400,000,000 /2009-12-31/ 400,000,001-500,000,000 /2008-12-31/ 300,000,001 - 400,000,000 /2008-01-02/ 200,000,001 - 300,000,000 /2007-01-01/ 100,000,001 - 200,000,000 /2005-12-31/ 100,000,001 - 200,000,000 /2004-12-31/ 80,000,001 - 100,000,000 /2003-12-31/ 80,000,001 - 100,000,000 /2002-12-31/ 60,000,001 - 80,000,000 /1999-12-31/ 80,000,001 - 100,000,000 /1998-12-31/

 

Publications

 

- 06.04.2015

:

Subject

:

http://vz.lt/?PublicationId=df1b829c-5920-4478-9a6a-c4a427e22f4b

For 2015 Kauno grudai group is planning investments for 45 ml EUR into fertilisers plant. According to the prelimininary data the turnover of AB Kauno grudai in 2014 was 307.7 ml EUR, and of KG group (not consolidated) was 462.9 ml EUR.

- 25.03.2015

:

Subject

:

http://vz.lt/?PublicationId=20209c74-0ab8-41dd-918a-068247694137

AB Kauno grudai is planning to buy 70 % of shares of the feeds plant near Moscow.

- 19.12.2013

:

Subject

:

www.kauno-grudai.lt

http://www.kauno-grudai.lt/default/en/news/three_kg_group_companies_will_get_award_of_successful_companies_in_2013_ Three KG Group companies will get award of “Successful companies in 2013“ KG Group companies were evaluated in Lithuanian Confederation of Industrialists contest for several years in succession. According to the group director Tautvydas Barstys, steadily growing company develops very different businesses, but constant attention to product and service quality, deployment of new technologies and skilled professionals have helped companies to achieve good results. KG Group investments in 2013 year amounted to 13 million EUR.

- 21.11.2013

:

Subject

:

www.kauno-grudai.lt

http://www.kauno-grudai.lt/default/en/news/kauno_grudai_business_of_veterinary_pharmaceutical_seeks_to_a_leading_position_in_baltics The first half of 2013 year Latvian Food and Veterinary Authority re-occupied a recognized leader in the veterinary pharmaceutical market of Latvia, it was “Kauno Grudai“ subsidiary company “Vet – Med“. In terms of turnover, sales of the active materials and veterinary products this company has outdone the Latvian local competitors and has 26 % of Latvian veterinary pharmaceutical market turnover of 2013. Veterinary pharmaceutical market turnover in Latvia is about 32 million LTL.

- 05.07.2013

:

Subject

:

http://www.ekonomika.lt

http://www.ekonomika.lt/naujiena/kauno-grudai-planuoj a-50-proc- didinti-miltu-eksporta-40701.html AB „Kauno Grudai“ during the next year plans to increase the export of flour up to 800 tons per month. AB „Kauno Grudai“ has invested 6 million. Lt into the mill modernization project. This investment enabled the purchase of three new production lines, renovate the mill premises, launch of new products for bakeries, „Horeca“ sector and and final users. It is planned to invest about 60 mln. LTL into the development of „KG Group“ during the 2013.

 

 

FINAL COMMENTS

 

Information was received from all the sources available. We have contacted the chief accountant of the company Mrs. Danute Bluziene. She refused to provide any information. Mrs. Danute said that we have to send our request to the lawyer of the company Ms. Asta Zukauskaite, she will review it, discuss the matter with the management of the company and only then she will give or not the permission to the accountant to provide information. We sent our questionnaire and now we are waiting for additional information from the company. If we receive any additional information, we'll supplement the report.

 

 

Events History

 

The early activities of AB “Kauno grudai” reach back to 1887, and are related to the construction of a mill under the order of Russian Czar Alexander II. The construction work lasted for more than a century and was completed in 1980. This construction work was aimed at increasing the power of the Russian Czar’s empire. Ten large warehouses were built before World War I. The mill and a chain of warehouses became the property of the then independent Republic of Lithuania in 1919. Ambitious economic projects were being realized all over the country. Large amounts of grain storage were a necessity during this period of agricultural recovery. There was a great amount of preparation for regular foreign trade during the immense expansion of cities. In 1924, the government sponsored the construction of the Kaunas grain elevator, which had a capacity of 4200 tons. Animal husbandry made a great step forward 1955, and the need for mixed fodder increased. For this reason, the elevator was reconstructed into a mixed fodder factory. A new elevator servicing the mills of Kaunas city and its districts was built to one side the factory. The joint-stock company “Kauno grudai” was established in 1993. The main production departments are the mill, mixed fodder workshop in Kaunas, and the departments in Jurbarkas and Alytus. The company purchased AB “ Kaisiadoriu paukstynas” in 1996, and AB “Vilniaus paukstynas” was purchased a year later. In 1999 the company purchased AB “Zelve”. AB “Kauno grudai”, AB “,Vilniaus paukstynas” and AB “Kaisiadoriu paukstynas” currently constitute one of the most modern and economically stable amalgamations in the republic. They make up one of the main groups of Kaunas grain companies.

 

Financial Statements

 

Period, months

12

12

12

Ended

31.12.2013

31.12.2012

31.12.2011

Currency

LTL

LTL

LTL

PROFIT AND LOSS ACCOUNT

I.        SALES AND SERVICES

925 301 170.00

941 538 446.00

818 566 680.00

II.       COSTS OF GOODS SOLD AND SERVICES

864 605 716.00

876 874 390.00

759 243 904.00

           RENDERED

III.      GROSS PROFIT (LOSS)

60 695 454.00

64 664 056.00

59 322 776.00

IV.      OPERATING EXPENSES

35 876 947.00

35 367 637.00

26 135 814.00

IV.1         Expenses on sales  

18 781 872.00

15 443 365.00

12 361 218.00

IV.2         Administrative and other expenses

17 095 075.00

19 924 272.00

13 774 596.00

V.        OPERATING PROFIT (LOSS)

24 818 507.00

29 296 419.00

33 186 962.00

VI.       OTHER OPERATIONS

1 598 372.00

1 314 743.00

-127 311.00

VI.1         Revenue from other operations  

9 393 296.00

11 979 819.00

7 884 268.00

VI.2         Expenses on other operations

7 794 924.00

10 665 076.00

8 011 579.00

VII.      FINANCIAL AND INVESTMENT ACTIVITIES

-3 077 408.00

-6 650 124.00

-5 449 933.00

VII.1        Revenue from financial and investing activities

2 674 014.00

1 522 561.00

21 791 311.00

VII.2        Expenses on financial and investing activities

5 751 422.00

8 172 685.00

27 241 244.00

VIII.    BASIC ACTIVITY PROFIT (LOSS)

23 339 471.00

23 961 038.00

27 609 718.00

IX.       EXTRA-ORDINARY PROFIT

X.        EXTRA-ORDINARY LOSS

XI.       PROFIT LIABLE TO TAXATION (LOSS)

23 339 471.00

23 961 038.00

27 609 718.00

XII.      PROFIT TAX

1 894 578.00

3 223 030.00

3 323 313.00

XIII.     NET PROFIT (LOSS)

21 444 893.00

20 738 008.00

24 286 405.00

XIV.    PROFIT (LOSS)  before minority share

XV.     MINORITY SHARE

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

BALANCE SHEET

ASSETS

A.     NON-CURRENT ASSETS

102 521 515.00

91 734 927.00

87 860 551.00

I.        INTANGIBLE ASSETS

413 494.00

457 724.00

236 503.00

I.1        Reseach and development costs

I.2        Goodwill

I.3        Rights obtained (licences, patents)

I.4        Software

272 030.00

368 027.00

168 757.00

I.5        Other intangible assets

141 464.00

89 697.00

67 746.00

II.     TANGIBLE  ASSETS

71 333 362.00

60 461 904.00

57 797 046.00

II.1       Land

3 970 434.00

20 000.00

20 000.00

II.2        Buildings and constructions

25 467 564.00

28 025 916.00

27 150 374.00

II.3        Plant and equipment

21 864 007.00

17 530 482.00

16 706 009.00

II.4       Transport vehicles

8 642 360.00

8 481 604.00

7 710 704.00

II.5       Other fixtures, fittings, tools and equipment

1 986 436.00

2 074 237.00

1 411 656.00

II.6        Construction in progress and prepayments

3 977 574.00

2 795 209.00

1 793 994.00

II.7        Other tangible assets

3 210 202.00

935 656.00

3 004 309.00

II.8       Investment assets

2 214 785.00

598 800.00

0.00

II.8.1.  Land

II.8.2.  Buildings

2 214 785.00

598 800.00

III.     LONG-TERM FINANCIAL ASSETS

30 774 659.00

30 815 299.00

29 827 002.00

III.1        Capital participation and investments in  related

30 774 659.00

30 815 299.00

29 827 002.00

                companies

III.2        Loans to subsidiaries and associated companies

III.3        Long-term accounts receivable

III.4        Other long-term finacial assets

IV. OTHER LONG TERM ASSETS

0.00

0.00

0.00

IV.1 Deffered tax profit

IV.2 Other long term assets

B.     CURRENT ASSETS

357 188 919.00

359 686 824.00

281 445 331.00

I.         STOCKS AND CONTRACTS IN PROGRESS

148 131 499.00

168 046 039.00

116 209 850.00

I.1.        Stocks

136 977 761.00

153 387 376.00

108 480 800.00

I.1.1         Raw materials and consumables

98 545 869.00

121 140 713.00

81 292 595.00

I.1.2         Work in progress

944 681.00

1 997 041.00

I.1.3         Finished products

5 144 556.00

6 307 539.00

4 599 859.00

I.1.4          Goods purchased for sale

33 287 336.00

24 994 443.00

20 591 305.00

I.1.5         Long term assets for resale

I.2         Advanced payments

11 153 738.00

14 658 663.00

7 729 050.00

I.3.        Contracts in progress

II.        SHORT-TERM ACCOUNTS RECEIVABLE

202 641 555.00

185 523 609.00

162 484 033.00

II.1.       Trade debtors

167 468 660.00

147 219 853.00

157 117 698.00

II.2         Loans to subsidiaries and associated companies

30 304 916.00

29 187 193.00

II.3.       Other accounts receivable

4 867 979.00

9 116 563.00

5 366 335.00

III.      OTHER CURRENT ASSETS

899 746.00

5 365 413.00

0.00

III.1       Short-term investments

4 674 853.00

III.2       Deposit accounts

III.3       Other current assets

899 746.00

690 560.00

IV.        CASH IN HAND AND BANK ACCOUNT

5 516 119.00

751 763.00

2 751 448.00

TOTAL ASSETS

459 710 434.00

451 421 751.00

369 305 882.00

EQUITY AND LIABILITIES

C.     CAPITAL AND RESERVES

156 320 892.00

135 482 344.00

114 744 336.00

I.         CAPITAL

16 294 616.00

16 294 616.00

16 294 616.00

I.1.        Authorized capital 

16 294 616.00

16 294 616.00

16 294 616.00

I.2.        Uncalled capital

I.3         Share premium account

I.4         Own shares

II.       REVALUATION RESERVE

19 218 354.00

19 218 354.00

19 218 354.00

III.      RESERVES

99 363 027.00

79 231 366.00

54 944 961.00

III.1.       Legally prescribed reserevs

2 344 686.00

2 344 686.00

2 344 686.00

III.2.       Non-distributable reserves

III.3.       Other reserves

97 018 341.00

76 886 680.00

52 600 275.00

IV.       RETAINED EARNINGS

21 444 895.00

20 738 008.00

24 286 405.00

IV.1         Profit (loss) from the current year

21 444 893.00

20 738 008.00

24 286 405.00

IV.2         Profit (loss) brought forward from previous years

2.00

V.    Currency exchange rate influence

D.     FINANCING (GRANTS AND SUBSIDIES)

2 277 437.00

2 910 219.00

2 898 615.00

D.    MINORITY SHARE

E.     ACCOUNTS PAYABLE AND LIABILITIES

301 112 105.00

313 029 188.00

251 662 931.00

I.         LONG-TERM ACCOUNTS PAYABLE

35 941 643.00

23 503 574.00

30 830 231.00

I.1         Financial loans

35 941 643.00

23 503 574.00

30 830 231.00

I.1.1         Leasing and other similar obligations

2 761 173.00

1 753 779.00

1 119 978.00

I.1.2         Amounts owed to credit institutions

33 180 470.00

21 749 795.00

29 710 253.00

I.1.3         Other financial loans

I.2         Trade creditors

I.3         Advanced payments under contracts in progress 

I.4         Provisions

0.00

0.00

0.00

I.4.1         Liabilities repayment

I.4.2         Benefit and similar liabilities

I.4.3         Other provisions

I.5         Deffered taxes

I.6         Other accounts payable and long-term liabilities

II.        SHORT-TERM LIABILITIES

265 170 462.00

289 525 614.00

220 832 700.00

II.1        Short-term portion of long-term debts

15 653 049.00

9 779 412.00

9 896 376.00

II.2        Financial debts

93 853 068.00

131 973 509.00

97 829 372.00

II.2.1        To credit institutions

92 717 015.00

126 661 201.00

97 829 372.00

II.2.2        Other loans

1 136 053.00

5 312 308.00

II.3        Trade creditors

131 926 233.00

127 082 575.00

92 365 013.00

II.4        Advanced payments under contracts in progress

14 194 084.00

13 514 084.00

13 119 652.00

II.5        Profit tax liabilities

1 839 311.00

2 773 724.00

II.6       Taxes, accrued payroll and social insurance payments

5 479 234.00

5 058 018.00

1 367 725.00

II.7        Provisions

1 568 345.00

II.8        Other accounts payable and short-term liabilities

4 064 794.00

278 705.00

1 912 493.00

TOTAL EQUITY AND LIABILITIES

459 710 434.00

451 421 751.00

369 305 882.00

 

 

- 31.12.2010

 

Fiscal period: 12 month(s), currency: LTL

 

PROFIT AND LOSS ACCOUNT

 

I.        SALES AND SERVICES

520 304 376.00

II.       COSTS OF GOODS SOLD AND SERVICES

490 319 243.00

           RENDERED

III.      GROSS PROFIT (LOSS)

29 985 133.00

IV.      OPERATING EXPENSES

18 815 459.00

IV.1         Expenses on sales  

6 785 474.00

IV.2         Administrative and other expenses

12 029 985.00

V.        OPERATING PROFIT (LOSS)

11 169 674.00

VI.       OTHER OPERATIONS

1 087 687.00

VI.1         Revenue from other operations  

6 076 410.00

VI.2         Expenses on other operations

4 988 723.00

VII.      FINANCIAL AND INVESTMENT ACTIVITIES

-1 940 922.00

VII.1        Revenue from financial and investing activities

5 732 811.00

VII.2        Expenses on financial and investing activities

7 673 733.00

VIII.    BASIC ACTIVITY PROFIT (LOSS)

10 316 439.00

IX.       EXTRA-ORDINARY PROFIT

X.        EXTRA-ORDINARY LOSS

XI.       PROFIT LIABLE TO TAXATION (LOSS)

10 316 439.00

XII.      PROFIT TAX

742 268.00

XIII.     NET PROFIT (LOSS)

9 574 171.00

XIV.    PROFIT (LOSS)  before minority share

XV.     MINORITY SHARE

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

BALANCE SHEET

ASSETS

A.     NON-CURRENT ASSETS

81 988 420.00

I.        INTANGIBLE ASSETS

110 149.00

I.1        Reseach and development costs

I.2        Goodwill

I.3        Rights obtained (licences, patents)

I.4        Software

74 538.00

I.5        Other intangible assets

35 611.00

II.     TANGIBLE  ASSETS

52 551 887.00

II.1       Land

10 209.00

II.2        Buildings and constructions

26 418 705.00

II.3        Plant and equipment

15 650 840.00

II.4       Transport vehicles

7 701 392.00

II.5       Other fixtures, fittings, tools and equipment

1 453 090.00

II.6        Construction in progress and prepayments

909 636.00

II.7        Other tangible assets

408 015.00

II.8       Investment assets

0.00

II.8.1.  Land

II.8.2.  Buildings

III.     LONG-TERM FINANCIAL ASSETS

29 326 384.00

III.1        Capital participation and investments in  related

29 326 384.00

                companies

III.2        Loans to subsidiaries and associated companies

III.3        Long-term accounts receivable

III.4        Other long-term finacial assets

IV. OTHER LONG TERM ASSETS

0.00

IV.1 Deffered tax profit

IV.2 Other long term assets

B.     CURRENT ASSETS

171 446 010.00

I.         STOCKS AND CONTRACTS IN PROGRESS

78 127 594.00

I.1.        Stocks

64 208 468.00

I.1.1         Raw materials and consumables

52 992 033.00

I.1.2         Work in progress

I.1.3         Finished products

2 700 390.00

I.1.4          Goods purchased for sale

8 516 045.00

I.1.5         Long term assets for resale

I.2         Advanced payments

13 919 126.00

I.3.        Contracts in progress

II.        SHORT-TERM ACCOUNTS RECEIVABLE

89 602 885.00

II.1.       Trade debtors

87 538 923.00

II.2         Loans to subsidiaries and associated companies

II.3.       Other accounts receivable

2 063 962.00

III.      OTHER CURRENT ASSETS

0.00

III.1       Short-term investments

III.2       Deposit accounts

III.3       Other current assets

IV.        CASH IN HAND AND BANK ACCOUNT

3 715 531.00

TOTAL ASSETS

253 434 430.00

EQUITY AND LIABILITIES

C.     CAPITAL AND RESERVES

90 771 088.00

I.         CAPITAL

16 294 616.00

I.1.        Authorized capital 

16 294 616.00

I.2.        Uncalled capital

I.3         Share premium account

I.4         Own shares

II.       REVALUATION RESERVE

19 218 354.00

III.      RESERVES

45 683 947.00

III.1.       Legally prescribed reserevs

2 344 686.00

III.2.       Non-distributable reserves

III.3.       Other reserves

43 339 261.00

IV.       RETAINED EARNINGS

9 574 171.00

IV.1         Profit (loss) from the current year

9 574 171.00

IV.2         Profit (loss) brought forward from previous years

V.    Currency exchange rate influence

D.     FINANCING (GRANTS AND SUBSIDIES)

1 646 176.00

D.    MINORITY SHARE

E.     ACCOUNTS PAYABLE AND LIABILITIES

161 017 166.00

I.         LONG-TERM ACCOUNTS PAYABLE

22 308 134.00

I.1         Financial loans

22 308 134.00

I.1.1         Leasing and other similar obligations

485 747.00

I.1.2         Amounts owed to credit institutions

21 822 387.00

I.1.3         Other financial loans

I.2         Trade creditors

I.3         Advanced payments under contracts in progress 

I.4         Provisions

0.00

I.4.1         Liabilities repayment

I.4.2         Benefit and similar liabilities

I.4.3         Other provisions

I.5         Deffered taxes

I.6         Other accounts payable and long-term liabilities

II.        SHORT-TERM LIABILITIES

138 709 032.00

II.1        Short-term portion of long-term debts

773 484.00

II.2        Financial debts

68 933 377.00

II.2.1        To credit institutions

68 933 377.00

II.2.2        Other loans

II.3        Trade creditors

61 236 747.00

II.4        Advanced payments under contracts in progress

3 332 988.00

II.5        Profit tax liabilities

179 855.00

II.6       Taxes, accrued payroll and social insurance payments

1 136 277.00

II.7        Provisions

1 438 557.00

II.8        Other accounts payable and short-term liabilities

1 677 747.00

TOTAL EQUITY AND LIABILITIES

253 434 430.00

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.52

UK Pound

1

Rs.95.96

Euro

1

Rs.70.54

 

INFORMATION DETAILS

 

Analysis Done by :

SUB

 

 

Report Prepared by :

VNT

 

               

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.