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Report No. : |
317303 |
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Report Date : |
11.05.2015 |
IDENTIFICATION DETAILS
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Name : |
AGROROD SRL |
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Registered Office : |
Bucharest, 18 Av. Nicolae Drossu Street, Ap. 1, Sector 1 |
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Country : |
Romania |
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Financials (as on) : |
30.06.2014 |
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Year of Establishment : |
1998 |
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Legal Form : |
Limited liability company |
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Line of Business : |
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No. of Employees : |
7 (30.06.2014) |
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 : |
No Complaints |
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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 – December 31, 2014
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Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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Romania |
B1 |
B1 |
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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 |
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. 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. In the aftermath of the global financial crisis, Romania signed on to a $26 billion emergency assistance package from the IMF, the EU, and other international lenders, but GDP contracted until 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, Romanian authorities and the IMF/EU agreed to a follow-on precautionary two-year stand-by agreement, worth $5.4 billion, to continue with reforms, although Bucharest has announced that it does not intend to draw funds under the agreement. Economic growth rebounded in 2013, driven by strong industrial exports and an excellent agricultural harvest, and the current account deficit was reduced substantially. The economy closed out 2014 with 2.8% growth, down from the 3.5% posted in 2013. Industry outperformed other sectors of the economy. Exports remained the engine of economic growth, led by trade with the EU, which accounts for roughly 70% of Romania trade. In 2014, the Government of Romania succeeded in meeting its annual target for the budget deficit, the external deficit remained low, and inflation was the lowest since 1989, allowing a gradual loosening of the monetary policy throughout the year. However, progress on structural reforms has been uneven and the economy still is vulnerable to external shocks. An ageing population, weak domestic demand, tax evasion, and insufficient health-care represent top vulnerabilities.
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Source
: CIA |
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NAME OF THE
COMPANY |
AGROROD SRL |
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Address |
Bucharest, 18
Av. Nicolae Drossu Street, Ap. 1, Sector 1 |
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Phone no. Cell phone no. |
0040-21-2224799 0040-744-343573 0040-740-908052 |
Fax no. |
0040-21-2224799 |
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Web-site |
E-mail address |
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Date of foundation |
March 1998 in Ialomita county. Starting with 2008 company moved its headquartes to Bucharest. |
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Present legal form |
Limited liability company, entire Romanian capital |
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Registered with the
Trade Registry |
Actual – J40/1251/2008 Former – J21/65/1998 |
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VAT no. |
10351513 |
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Registered
capital |
2,000 RON |
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Shareholders |
Individuals |
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1. Radu
Lidia – Romanian citizen, born on 23.08.1967 |
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Participation |
50% |
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2. Iorgu Madalina
Elena – Romanian citizen, born on 26.08.1966 |
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Participation |
50% |
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Obligation to
publish |
According to the Romanian Financial Legislation, subject
company is obliged to lodge with the Ministry of Public Finance its half-yearly accounts |
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2009 |
2010 |
2011 |
2012 |
2013 |
30.06.2014 |
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total |
8 |
9 |
8 |
7 |
7 |
7 |
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According to the national Trade Registry updated files - wholesale trade with chemicals (NACE: 4675) As declared by the company on its web site - trade with seeds,
plant protection products and fertilizers Work-shop: Ialomita county, Movilita commune, No. 36 |
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1. Company’s
participation |
not applicable |
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2. Shareholders other
participation |
Radu Lidia |
not applicable |
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Iorgu Madalina Elena |
SHARTEC SRL – Reg. no.: J40/9076/2013, VAT 32031846 |
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TANGIBLES* |
102,812 RON, at 30.06.2014 *According to the accounting standards, for the middle of the
year the company is not obliged to detail its tangible assets. Therefore, the
real estates are included in “Tangibles” position among the other assets |
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BANKS |
N/A |
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MANAGEMENT as officially
registered with the National Trade Registry |
Radu Lidia –
Administrator Appointed on
25.02.1998 on unlimited period |
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CURRENCY Exchange rate of
EURO |
1 EURO =
4.2282 RON on 31.12.2009 1 EURO =
4.2848 RON on 31.12.2010 1 EURO =
4.3197 RON on 31.12.2011 1 EURO =
4.4287 RON on 31.12.2012 1 EURO = 4.4847
RON on 31.12.2013 1 EURO = 4.3888
RON on 30.06.2014 |
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N.B.: any difference
occurred between former reports and the present one regarding some positions
of the “Balance Sheet” or P/L Account for previous periods does not belong to
us. The financial data
from this report are the ones officially declared by the subject with the
Ministry of Public Finance data basis for 30.06.2014. As consequence, the
responsibility for their accuracy belongs exclusively to the company. |
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based upon financial figures reported in the latest balance-sheet – 30.06.2014 - all figures are reported in RON if
otherwise not specified. |
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Size |
micro, considering the total no. of employees. |
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Position & trend |
Generally increasing volume of activity, up to a fair level of turnover,
with fluctuant but always positive economic results. Liquidity is very good and solvability got easily detriorated, but
indebtednesss rate looks still acceptable. Payments behavior looks corect, no delays being reported. Financial standing looks very good. Business contacts are feasible and credit facilities are suitable. |
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31.12.2009 |
31.12.2010 |
31.12.2011 |
31.12.2012 |
31.12.2013 |
30.06.2014 |
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Turnover |
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RON |
2,756,077 |
3,523,278 |
4,840,175 |
4,434,919 |
5,932,242 |
2,065,493 |
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EURO |
651,832 |
822,274 |
1,120,489 |
1,001,404 |
1,322,773 |
470,628 |
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Gross profit |
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RON |
301,419 |
389,945 |
779,343 |
645,103 |
893,823 |
356,061 |
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EURO |
71,288 |
91,007 |
180,416 |
145,664 |
199,305 |
81,129 |
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Net profit |
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RON |
245,292 |
327,375 |
654,643 |
541,852 |
747,473 |
299,761 |
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EURO |
58,013 |
76,404 |
151,548 |
122,350 |
166,672 |
68,301 |
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30.06.2014 |
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N/A
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Positive |
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Total claims, no further details available |
2,840,210 |
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Total debts |
2,514,112 |
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- Short term, no further details available |
2,459,998 |
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- Medium term, no further details available |
54,114 |
Correct, no delays reported
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as officially recorded with the Payment Incident Bureau |
No incidents recorded during 7.05.2014 -7.05.2015 |
Not applicable
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FINANCIAL STRENGTH |
580,000 EURO |
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RISK CATEGORY |
Low |
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BUSINESS RELATIONS |
Permissible |
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2009 |
2010 |
2011 |
2012 |
2013 |
30.06.2014 |
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Very good |
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Liquidity analysis |
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- current ratio |
1.41 |
2.03 |
3.19 |
7.99 |
2.32 |
1.51 |
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- quick ratio |
1.08 |
1.89 |
2.66 |
7.37 |
2.02 |
1.38 |
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Solvability analysis |
Easily deteriorated; still acceptable indebtedness rate |
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- the borrowing ratio (total debts/net worth) |
2.49 |
2.53 |
0.56 |
0.19 |
0.76 |
1.93 |
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Profitability analysis (%) |
Fluctuant, but always within very good limits |
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- return on capital |
46.84 |
56.93 |
66.02 |
49.04 |
50.80 |
23.04 |
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- return on assets |
13.41 |
16.12 |
42.29 |
41.35 |
28.78 |
7.86 |
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- gross profit margin |
10.94 |
11.07 |
16.10 |
14.55 |
15.07 |
17.24 |
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Activity analysis |
Debtors are generally out of control; pay attention! |
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- debtor’s days |
116 |
144 |
66 |
90 |
90 |
502 |
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- creditor’s days |
n/a |
n/a |
n/a |
n/a |
n/a |
n/a |
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Stocks turnover, times/period |
7 |
25 |
20 |
45 |
18 |
6 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
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US Dollar |
1 |
Rs.64.05 |
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|
1 |
Rs.99.04 |
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Euro |
1 |
Rs.71.76 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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Report Prepared
by : |
VNT |
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.