MIRA INFORM REPORT
|
Report No. : |
352087 |
|
Report Date : |
28.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
PANCHEV EOOD |
|
|
|
|
Registered Office : |
Ul. Vasil Levski 144, 4003 Plovdiv |
|
|
|
|
Country : |
Bulgaria |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
11.02.2000 |
|
|
|
|
Legal Form : |
Sole Proprietor Limited Liability Company |
|
|
|
|
Line of Business : |
· Wholesale of hardware, plumbing and heating equipment and supplies ·
Trade with tools and construction materials. |
|
|
|
|
No. of Employees : |
29 [2014] |
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 |
A2 |
A2 |
|
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: PANCHEV
EOOD
International name: PANCHEV
EOOD
Registered address
Ul. Vasil Levski 144
4003 Plovdiv
Bulgaria
Telephone: +359-32/963441
Fax: +359-(32)963734
E-Mail: office@panchev.bg
Internet: http://www.panchev.bg
ESTABLISHMENT
& REGISTRATION:
Established: 11.02.2000
Registered at Plovdiv District Court
Court number 945/2000
Bulstat/VAT number: 115530801
Status of the company:
Active
HISTORY:
Previous VAT number: 1160418075.
LEGAL FORM:
Sole Proprietor Limited Liability Company (EOOD)
REGISTERED CAPITAL:
BGN 35 000.00
BANKERS:
Procredit Bank AD
SHAREHOLDERS/MANAGEMENT
SHAREHOLDERS:
Nikolay Panchev Rishev - 100%
ID 7212294745, born 29.12.1972
MANAGEMENT:
Nikolay Panchev Rishev - Manager
RELATED COMPANIES:
|
Company ID |
Company Name |
|
825380027 |
NIKOLAY PANCHEV |
|
201699320 |
NEA ELPIDA |
|
115845802 |
NEDEVPLAST |
|
115783234 |
ASPARUHOV I KO |
|
115609104 |
HIRAM |
BUSINESS ACTIVITY
BUSINESS OPERATION:
NACE 1.1: 51.54 Wholesale of hardware, plumbing and heating equipment
and supplies
Activity:
Trade with tools and construction materials.
NUMBER OF EMPLOYEES:
|
As At date |
Value |
|
31.12.2006 |
21 |
|
31.12.2007 |
22 |
|
31.12.2008 |
27 |
|
31.12.2009 |
34 |
|
31.12.2010 |
33 |
|
22.11.2011 |
29 |
|
31.12.2011 |
29 |
|
31.12.2012 |
24 |
|
28.11.2013 |
26 |
|
31.12.2013 |
27 |
|
31.12.2014 |
29 |
|
Latest stand |
30 |
EXPORT:
Macedonia
IMPORT:
Macedonia, EU
REAL ESTATE:
Own premises.
FINANCIAL DATA
TURNOVER:
|
Year |
Currency |
Value |
|
2002 |
BGN |
562 000.00 |
|
2005 |
BGN |
1 672 000.00 |
|
2006 |
BGN |
2 260 000.00 |
|
2007 |
BGN |
2 152 000.00 |
|
2008 |
BGN |
3 265 000.00 |
|
2009 |
BGN |
1 977 000.00 |
|
2010 |
BGN |
2 075 000.00 |
|
2011 |
BGN |
2 592 000.00 |
|
2012 |
BGN |
2 599 000.00 |
|
2013 |
BGN |
2 379 000.00 |
|
2014 |
BGN |
3 165 000.00 |
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 complaints payment information is available.
BRANCH INDICATOR:
The company's payment behaviour is average for the branch.
|
Ratio |
2011 |
2012 |
2013 |
2014 |
|
Accounting period: |
1.1.2011 - |
1.1.2012 - |
1.1.2013 - |
1.1.2014 - |
|
Debt ratio |
0.67 |
0.62 |
0.59 |
0.57 |
|
Quick ratio |
2.85 |
2.15 |
1.00 |
0.72 |
|
Current ratio |
4.32 |
3.91 |
1.62 |
1.21 |
|
Days purchase in payables |
72.17 |
63.97 |
202.34 |
226.68 |
|
Operating margin in % |
5.54 |
7.19 |
7.16 |
11.71 |
|
Cash ratio (acid ratio) |
0.82 |
1.36 |
0.62 |
0.10 |
|
Return on sales ROS in % |
4.99 |
6.42 |
6.34 |
10.53 |
|
Return on assets ROA in % |
3.90 |
5.23 |
4.31 |
8.98 |
|
Return on equity ROE in % |
11.85 |
13.81 |
10.89 |
20.78 |
|
Days supply in inventory |
105.73 |
112.40 |
124.06 |
111.77 |
|
Days sales in receivables |
146.44 |
50.53 |
76.72 |
140.95 |
|
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 etc |
|
|
27 |
21 |
|
Goodwill |
|
|
|
|
|
Intangible fixed assets under construction |
|
|
|
|
|
thereof advances |
|
|
|
|
|
Total I: |
|
|
27 |
21 |
|
II Fixed Tangible Assets |
|
|
|
|
|
Land and Buildings |
694 |
1028 |
951 |
1082 |
|
thereof Land |
431 |
448 |
442 |
435 |
|
thereof Buildings |
263 |
580 |
509 |
647 |
|
Machines, Vehicles |
9 |
8 |
3 |
3 |
|
Equipment |
143 |
96 |
81 |
100 |
|
Tangible fixed assets under construction |
218 |
235 |
223 |
|
|
thereof advances |
|
|
|
|
|
Total II |
1064 |
1367 |
1258 |
1185 |
|
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 |
1064 |
1367 |
1285 |
1206 |
|
C. CURRENT ASSETS |
|
|
|
|
|
I. Inventories |
|
|
|
|
|
Raw Materials |
30 |
3 |
4 |
5 |
|
Work in progress |
|
|
|
|
|
thereof young animals |
|
|
|
|
|
Trading goods |
723 |
800 |
790 |
918 |
|
thereof production |
1 |
|
2 |
5 |
|
thereof goods for sale |
722 |
800 |
788 |
913 |
|
Advances |
|
|
|
|
|
Total I |
753 |
803 |
794 |
923 |
|
II. Receivables |
|
|
|
|
|
Receivables from customers |
1002 |
305 |
425 |
309 |
|
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 |
41 |
56 |
66 |
855 |
|
thereof more than 1 year |
|
|
|
|
|
Total II |
1043 |
361 |
491 |
1164 |
|
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 |
|
623 |
809 |
183 |
|
thereof cash |
234 |
588 |
777 |
182 |
|
Thereof cash in foreign currency (equivalent) |
|
10 |
|
|
|
thereof current accounts |
188 |
35 |
32 |
1 |
|
thereof blocked accounts |
|
|
|
|
|
thereof cash equivalents |
|
|
|
|
|
Cash and accounts abroad |
|
|
|
|
|
thereof cash |
|
|
|
|
|
Thereof cash in foreign currency (equivalent) |
|
|
|
|
|
thereof current accounts |
|
|
|
|
|
thereof blocked accounts |
|
|
|
|
|
Total IV |
422 |
623 |
809 |
183 |
|
C. CURRENT ASSETS TOTAL |
2218 |
1787 |
2094 |
2270 |
|
D. Deferred expenses |
4 |
|
9 |
10 |
|
TOTAL ASSETS |
3286 |
3154 |
3388 |
3486 |
|
A. OWNERS EQUITY |
|
|
|
|
|
I. Share capital |
35 |
35 |
35 |
35 |
|
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 |
917 |
995 |
1160 |
1158 |
|
Uncovered loss |
|
|
|
|
|
Total V |
917 |
995 |
1160 |
1158 |
|
VI. Current result profit (loss) |
128 |
165 |
146 |
313 |
|
A. OWNERS EQUITY TOTAL |
1080 |
1195 |
1341 |
1506 |
|
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 |
1692 |
1502 |
1343 |
1356 |
|
less than 1 year |
|
|
636 |
1256 |
|
more than 1 year |
1692 |
1502 |
707 |
100 |
|
Advances received |
|
|
|
16 |
|
less than 1 year |
|
|
|
16 |
|
more than 1 year |
|
|
|
|
|
Payables to suppliers |
301 |
297 |
447 |
367 |
|
less than 1 year |
301 |
297 |
447 |
367 |
|
more than 1 year |
|
|
|
|
|
Liabilities on policies |
|
|
4 |
1 |
|
less than 1 year |
|
|
4 |
1 |
|
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 |
5 |
9 |
208 |
232 |
|
less than 1 year |
5 |
9 |
208 |
232 |
|
more than 1 year |
|
|
|
|
|
thereof to personnel |
7 |
10 |
11 |
12 |
|
less than 1 year |
7 |
10 |
11 |
12 |
|
more than 1 year |
|
|
|
|
|
thereof to social insurance |
3 |
5 |
26 |
5 |
|
less than 1 year |
3 |
5 |
26 |
5 |
|
more than 1 year |
|
|
|
|
|
thereof for taxes |
198 |
136 |
171 |
215 |
|
less than 1 year |
198 |
136 |
171 |
215 |
|
more than 1 year |
|
|
|
|
|
C. LIABILITIES TOTAL |
2206 |
1959 |
2002 |
1972 |
|
less than 1 year |
514 |
457 |
1295 |
1872 |
|
more than 1 year |
1692 |
1502 |
707 |
100 |
|
D. FINANCING AND DEFERRED INCOME |
|
|
45 |
8 |
|
thereof |
|
|
|
|
|
Financing |
|
|
|
8 |
|
Deferred income |
|
|
|
|
|
TOTAL EQUITY AND LIABILITIES |
3286 |
3154 |
3388 |
3486 |
|
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 |
|
1 |
|
|
|
thereof for materials |
97 |
127 |
80 |
105 |
|
thereof for services |
132 |
145 |
110 |
167 |
|
Personnel expenses |
124 |
131 |
191 |
213 |
|
thereof wages |
|
131 |
161 |
179 |
|
thereof social insurance |
21 |
24 |
30 |
34 |
|
thereof pensions |
21 |
24 |
30 |
34 |
|
Depreciation |
139 |
77 |
87 |
80 |
|
thereof Depreciation of fixed assets |
139 |
77 |
87 |
80 |
|
Other expenses |
1710 |
1709 |
1625 |
2156 |
|
thereof Book value of sold assets (without production) |
1695 |
1661 |
1586 |
2111 |
|
I. OPERATION EXPENSES TOTAL |
2223 |
2214 |
2093 |
2721 |
|
II. Financial expenditures |
|
|
|
|
|
Depreciation of financial assets |
4 |
12 |
8 |
19 |
|
thereof exchange rate losses |
4 |
12 |
8 |
19 |
|
Paid interest |
228 |
206 |
121 |
79 |
|
thereof interest to group companies |
|
|
|
|
|
Thereof expenditures for securities operations |
|
|
|
|
|
II. Financial expenditures Total |
232 |
218 |
129 |
98 |
|
B. Profit on ordinary activity |
142 |
185 |
165 |
348 |
|
III. Extraordinary expenses |
|
|
|
|
|
thereof expenses on disasters and emergency expenses |
|
|
|
|
|
C. Total expenses (I+II+III) |
2455 |
2432 |
2222 |
2819 |
|
D. Accounting profit |
142 |
185 |
165 |
348 |
|
IV. Taxation on profit |
14 |
20 |
19 |
35 |
|
V. Other taxes |
|
|
|
|
|
E. Net profit |
128 |
165 |
146 |
313 |
|
Total expenses |
2597 |
2617 |
2387 |
3167 |
|
A. REVENUES |
|
|
|
|
|
I . OPERATING REVENUES |
|
|
|
|
|
Net sales |
2564 |
2572 |
2304 |
2973 |
|
Production |
50 |
48 |
44 |
24 |
|
Goods |
2514 |
2523 |
2252 |
2945 |
|
Services |
|
1 |
8 |
4 |
|
Increase of production and work in progress |
|
|
2 |
3 |
|
Expenses on acquisition of assets |
|
|
|
|
|
Other revenues |
28 |
27 |
73 |
189 |
|
thereof financing |
|
|
15 |
78 |
|
I. TOTAL OPERATING REVENUES |
2592 |
2599 |
2379 |
3165 |
|
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 |
|
18 |
8 |
2 |
|
thereof from interest from group companies |
|
|
|
|
|
II FINANCIAL REVENUES TOTAL |
5 |
18 |
8 |
2 |
|
TOTAL REVENUES FROM ORDINARY ACTIVITIES |
2597 |
2617 |
2387 |
3167 |
|
LOSS |
|
|
|
|
|
Extraordinary revenues |
|
|
|
|
|
AFTER TAX LOSS |
|
|
|
|
|
TOTAL REVENUES |
2597 |
2617 |
2387 |
3167 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.75 |
|
|
1 |
Rs.100.67 |
|
Euro |
1 |
Rs.70.87 |
|
BGN |
1 |
Rs.36.18 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
KIN |
|
|
|
|
Report Prepared
by : |
TPT |
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.