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Report No. : |
349985 |
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Report Date : |
25.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
PREDUZECE ZA PROIZVODNJU |
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|
|
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Registered Office : |
Radnicka 4 RS 31000 Uzice |
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Country : |
Serbia |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
18.01.1991 |
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Legal Form : |
Limited Liability company |
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Line of Business : |
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No. of Employee : |
78 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Serbia |
C1 |
C1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 |
SERBIA ECONOMIC OVERVIEW
Serbia has a transitional economy largely dominated by market forces, but the state sector remains significant in certain areas and many institutional reforms are needed. The economy relies on manufacturing and exports, driven largely by foreign investment. MILOSEVIC-era mismanagement of the economy, an extended period of international economic sanctions, civil war, and the damage to Yugoslavia's infrastructure and industry during the NATO airstrikes in 1999 left the economy only half the size it was in 1990. After the ousting of former Federal Yugoslav President MILOSEVIC in September 2000, the Democratic Opposition of Serbia (DOS) coalition government implemented stabilization measures and embarked on a market reform program. After renewing its membership in the IMF in December 2000, Serbia continued to reintegrate into the international community by rejoining the World Bank (IBRD) and the European Bank for Reconstruction and Development (EBRD). Serbia has made progress in trade liberalization and enterprise restructuring and privatization, but many large enterprises - including the power utilities, telecommunications company, natural gas company, and others - remain in state hands. Serbia has made some progress towards EU membership, signing a Stabilization and Association Agreement with Brussels in May 2008, and with full implementation of the Interim Trade Agreement with the EU in February 2010, gained candidate status in March 2012. In January 2014, Serbia's EU accession talks officially opened. Serbia's negotiations with the World Trade Organization are advanced, with the country's complete ban on the trade and cultivation of agricultural biotechnology products representing the primary remaining obstacle to accession. Serbia's program with the IMF was frozen in early 2012 because the 2012 budget approved by parliament deviated from the program parameters; the arrangement is now void. High unemployment and stagnant household incomes are ongoing political and economic problems. Structural economic reforms needed to ensure the country's long-term prosperity have largely stalled since the onset of the global financial crisis. Growing budget deficits constrain the use of stimulus efforts to revive the economy and contribute to growing concern of a public debt crisis, given that Serbia's total public debt as a share of GDP more than doubled between 2008 and 2014. Serbia's concerns about inflation and exchange-rate stability may preclude the use of expansionary monetary policy. During 2014 the SNS party addressed issues with the fiscal deficit, state-owned enterprises, the labor market, construction permits, bankruptcy and privatization, and other areas. Major challenges ahead include: high unemployment rates and the need for job creation; high government expenditures for salaries, pensions, healthcare, and unemployment benefits; a growing need for new government borrowing; rising public and private foreign debt; attracting new foreign direct investment; and getting the IMF program back on track. Other serious longer-term challenges include an inefficient judicial system, high levels of corruption, and an aging population. Factors favorable to Serbia's economic growth include its strategic location, a relatively inexpensive and skilled labor force, and free trade agreements with the EU, Russia, Turkey, and countries that are members of the Central European Free Trade Agreement (CEFTA). In late 2014, Serbia and the IMF announced a tentative plan for a precautionary loan worth approximately $1 billion. In 2015, the government will be challenged to implement IMF-mandated reforms—which will target social spending, the large public sector, and social spending.
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Source
: CIA |
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PANTOVIC D.O.O. PREDUZECE ZA PROIZVODNJU, PROMET I USLUGE PANTOVIC D.O.O.
UZICE Radnicka 4 RS 31000 Uzice Tel: +381 31/513973, 553412 Fax: +381 31/513973, 553412 Mob.: +381 63/603292 e-mail: office@temperaturefashion.com www.temperaturefashion.com |
|
Legal form |
Ltd. - Limited
Liability company |
|
|
Established |
18.01.1991 |
|
|
Registered |
National
Identification Number: 07608365 PIB (Value Added
Tax): 101500835 Serbian Business
Registers Agency Nr. 31762 |
|
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Establisher |
Dragoslav
Pantovic, born 05.11.1964 Gradska 15,
31000 Uzica, Serbia |
100.00% |
|
Basic capital |
RSD 8,000,000
(31.12.2014) |
|
|
Management |
Dragoslav
Pantovic, Director, born 05.11.1964 Gradska 15, 31000 Uzica, Serbia |
|
|
Activity |
Basic activity
(according to National activity classification): Manufacture of other knitted
and crocheted apparel (14.39) Manufacture of
other technical and industrial textiles (13.96) Manufacture of
other outerwear (14.13) Manufacture of
footwear (15.20) Manufacture of
plastics in primary forms (20.16) Manufacture of
plastic plates, sheets, tubes and profiles (22.21) Wholesale of
dairy products, eggs and edible oils and fats (46.33) Wholesale of
other office machinery and equipment (46.66) Retail sale in
non-specialised stores with food, beverages or tobacco predominating (47.11) Retail sale of
textiles in specialised stores (47.51) Other passenger land transport n.e.c. (49.39) Restaurants and mobile food service activities (56.10) Computer consultancy activities (62.02) Data processing, hosting and related activities (63.11) Market research and public opinion polling (73.20) Repair of consumer electronics (95.21) |
|
|
Business
Premises |
Dimitrija Tucovica
151, Uzice, rented, Shop Banjickih zrtava BB, Uzice, ownership unknown,
Production plant Radnicka 4, Uzice, ownership unknown, Office Radnicka 4,
Uzice, ownership unknown, Registered Address |
||
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Motor pool |
Data not
available |
||
|
Staff |
|
|
|
|
2014 |
78 employees |
||
|
2013 |
72 employees |
||
|
2012 |
68 employees |
||
|
2011 |
70 employees |
||
|
2010 |
61 employees |
||
|
2009 |
63 employees |
||
|
2008 |
75 employees |
||
|
2007 |
117 employees |
||
|
2006 |
119 employees |
||
|
2005 |
97 employees |
||
|
2004 |
80 employees |
||
|
2003 |
72 employees |
||
|
2002 |
49 employees |
||
|
2001 |
45 employees |
||
|
Real estate |
Data not
available |
|
Balance Sheet |
RSD (x 1,000) |
31.12.2014 |
31.12.2013 |
31.12.2012 |
||
|
Unconsolidated |
||||||
|
FIXED ASSETS |
36,338 |
31,024 |
35,105 |
|||
|
Subscribed
capital unpaid |
0 |
0 |
0 |
|||
|
Intangible fixed
assets |
44 |
27 |
0 |
|||
|
Tangible fixed
assets |
36,294 |
30,997 |
35,105 |
|||
|
Other fixed
assets |
0 |
0 |
0 |
|||
|
CURRENT ASSETS |
65,585 |
56,606 |
54,366 |
|||
|
Inventories |
50,379 |
44,922 |
33,538 |
|||
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Short – term
loans |
13,550 |
11,684 |
12,428 |
|||
|
*Cash and cash
equivalent |
1,333 |
1,309 |
5,058 |
|||
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Other current
assets |
323 |
0 |
8,400 |
|||
|
LOSS |
0 |
0 |
0 |
|||
|
TOTAL ASSETS |
101,923 |
87,630 |
89,471 |
|||
|
EQUITY |
18,302 |
12,088 |
16,920 |
|||
|
Capital |
8,000 |
8,000 |
7,708 |
|||
|
Subscribed capital
unpaid |
0 |
0 |
0 |
|||
|
Reserves |
0 |
0 |
0 |
|||
|
Revalorization
reserves |
0 |
0 |
0 |
|||
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Undistributed
Income |
10,302 |
4,088 |
9,212 |
|||
|
Loss |
0 |
0 |
0 |
|||
|
Treasury shares |
0 |
0 |
0 |
|||
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LONG TERM RESERVATIONS
|
0 |
0 |
0 |
|||
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LONG TERM
LIABILITIES |
40,727 |
41,527 |
42,698 |
|||
|
SHORT TERM
LIABILITIES |
42,894 |
34,015 |
29,853 |
|||
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OTHER
LIABILITIES |
0 |
0 |
0 |
|||
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TOTAL
LIABILITIES |
101,923 |
87,630 |
89,471 |
|||
|
Profit And Loss
Account |
RSD (x 1,000) |
31.12.2014 |
31.12.2013 |
31.12.2012 |
||
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Unconsolidated |
||||||
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OPERATING
REVENUES |
108,964 |
84,408 |
68,934 |
|||
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Sales of goods |
108,964 |
78,147 |
63,821 |
|||
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OPERATING EXPENSES
|
105,114 |
82,782 |
65,410 |
|||
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Costs of goods
sold |
8,899 |
5,100 |
1,847 |
|||
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Raw materials
costs |
61,634 |
43,241 |
31,281 |
|||
|
Salaries, wages
and other personal indemnities |
31,546 |
23,605 |
22,992 |
|||
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Deprecation and
provision costs |
3,846 |
4,204 |
3,479 |
|||
|
Other operating
expenses |
5,607 |
6,632 |
5,811 |
|||
|
FINANCIAL
REVENUES |
100 |
53 |
366 |
|||
|
FINANCIAL
EXPENSES |
4,404 |
3,279 |
3,455 |
|||
|
Financial P/L |
(4,304) |
(3,226) |
(3,089) |
|||
|
OTHER REVENUES |
8,419 |
5,546 |
887 |
|||
|
OTHER EXPENSES |
278 |
378 |
293 |
|||
|
Other P/L |
8,141 |
5,168 |
594 |
|||
|
Profit from
regular business operations before tax |
6,164 |
3,568 |
1,029 |
|||
|
Loss from
regular business operations before tax |
0 |
0 |
0 |
|||
|
Net profit of
businesses to be ceased |
50 |
0 |
0 |
|||
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Net loss of
businesses to be ceased |
0 |
0 |
0 |
|||
|
Profit before
taxation |
6,214 |
3,568 |
1,029 |
|||
|
Loss before
taxation |
0 |
0 |
0 |
|||
|
Taxation on
profit |
0 |
0 |
0 |
|||
|
Personal
indemnities paid to employer |
0 |
0 |
0 |
|||
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TOTAL REVENUES |
117,483 |
90,007 |
70,187 |
|||
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TOTAL EXPENSES |
111,319 |
86,439 |
69,158 |
|||
|
PROFIT OF THE
PERIOD |
6,214 |
3,568 |
1,029 |
|||
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LOSS OF THE
PERIOD |
0 |
0 |
0 |
|||
|
Number of
employees |
78 |
72 |
68 |
|||
|
Ratios |
RSD (x 1,000) |
31.12.2014 |
31.12.2013 |
31.12.2012 |
||
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Unconsolidated |
||||||
|
Financial
stability ratio |
0.68 |
0.71 |
0.87 |
|||
|
Equity ratio % |
17.96 |
13.79 |
18.91 |
|||
|
Debt to equity
(Worth) |
4.57 |
6.25 |
4.29 |
|||
|
Liquidity ratio |
0.35 |
0.34 |
0.42 |
|||
|
Current ratio |
1.27 |
1.66 |
1.82 |
|||
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Total assets
turnover |
1.07 |
0.96 |
0.77 |
|||
|
Average
collection period in days |
45 |
51 |
66 |
|||
|
Profit margin % |
5.70 |
4.23 |
1.49 |
|||
|
Return on total
assets % |
6.10 |
4.07 |
1.15 |
|||
|
Return on equity
% |
33.95 |
29.52 |
6.08 |
|||
|
Total assets per
employee (ths.) |
1,306.71 |
1,217.08 |
1,315.75 |
|||
|
Equity per
employee (ths) |
234.64 |
167.89 |
248.82 |
|||
|
Total revenue
per employee (ths.) |
1,396.97 |
1,172.33 |
1,013.74 |
|||
|
Profit per
employee (ths.) |
79.67 |
49.56 |
15.13 |
|||
|
Loss per
employee (ths.) |
0.00 |
0.00 |
0.00 |
|||
|
Average net to
salaries (ths.) |
33.70 |
27.32 |
28.18 |
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Auditing of financial statements - is not obligatory
Small legal entities
|
Corporate structure |
Rep. Offices in
Serbia: none Rep. Offices
abroad: none Affiliates: - ART, Uzice,
Serbia (NIN:07190646) (19.80% owned by Dragoslav Pantovic) Subsidiaries:
not identified Immediate parent
company: none Other functions
and shares of Dragoslav Pantovic: - ART, Uzice,
Serbia (NIN:07190646), establisher (19.80%) |
||||||||||
|
Other info |
Former
registered addresses: Since 18.01.1991
till 24.06.2013 Gradska 5, UZICE Since 24.06.2013
Radnicka 4, UZICE |
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|
Exchange rate |
31.12.2014 31.12.2013 31.12.2012 31.12.2011 31.12.2010 |
EUR 1 = RSD
117.31 EUR 1 = RSD
114.70 EUR 1 = RSD
113.70 EUR 1 = RSD
104.64 EUR 1 = RSD
105.98 |
|||||||||
|
Inflation |
2012: 2011: 2010: |
12.20% 10.30% 7.90% |
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Bankers |
VOJVODJANSKA
BANKA A.D. Novi Sad Trg Slobode 7 355-1066117-61 |
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MARFIN BANK A.D.
Beograd Dalmatinska 22 145-5480-25 |
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BANCA INTESA
A.D. Beograd Milentija
Popovica 7 b |
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Debt collection |
Case Registered: |
- |
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Case Status: |
There is no record of any debt collection action. |
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|
Mode of payment |
As a rule payments are made on time according to
conditions, in some cases there have been delays and reminders |
|
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Credit opinion |
Business contacts are considered permissible; clear payment
conditions and regular control of payments are recommended |
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.38 |
|
|
1 |
Rs.100.45 |
|
Euro |
1 |
Rs.70.55 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
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Report Prepared
by : |
ANK |
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.