MIRA
INFORM REPORT
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Report No. : |
345452 |
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Report Date : |
23.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
SIDHU FOOD B.V. |
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|
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Registered Office : |
Jarmuiden 51B, 1046AE |
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Country : |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
17.09.1998 |
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Com. Reg. No.: |
33306070 |
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Legal Form : |
Private Company |
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Line of Business : |
The import and wholesale
of Indian spices and food |
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No. of Employees : |
3 [2015] |
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 |
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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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Netherlands |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
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Off-credit |
D |
NETHERLANDS - ECONOMIC OVERVIEW
The Netherlands, the sixth-largest economy in the European
Union, plays an important role as a European transportation hub, with a
persistently high trade surplus, stable industrial relations, and moderate
unemployment. Industry focuses on food processing, chemicals, petroleum
refining, and electrical machinery. A highly mechanized agricultural sector
employs only 2% of the labor force but provides large surpluses for
food-processing and underpins the country’s status as the world’s second
largest agricultural exporter. The Netherlands is part of the Eurozone, and as
such, its monetary policy is controlled by the European Central Bank. The Dutch
financial sector is highly concentrated, with four commercial banks possessing
over 90% of banking assets. The sector suffered as a result of the global
financial crisis and required billions of dollars of government support, but
the European Banking Authority completed stringent reviews in 2014 and deemed
Dutch banks to be well-capitalized. To address the 2009 and 2010 economic
downturns, the government sought to stimulate the domestic economy by
accelerating infrastructure programs, offering corporate tax breaks for
employers to retain workers, and expanding export credits. The stimulus
programs and bank bailouts, however, resulted in a government budget deficit of
5.3% of GDP in 2010 that contrasted sharply with a surplus of 0.7% in 2008. The
government of Prime Minister Mark RUTTE has since implemented significant
austerity measures to improve public finances and has instituted broad
structural reforms in key policy areas, including the labor market, the housing
sector, the energy market, and the pension system. As a result, the government
budget deficit at the end of 2014 dropped to 1.8% of GDP. Following a protracted
recession during which unemployment doubled to 7.4% and household consumption
contracted for nearly three consecutive years, the year 2014 saw fragile GDP
growth of 0.8 percent and a rise in most economic indicators. Drivers of growth
included increased exports and business investments, as well as newly
invigorated household consumption.
|
Source
: CIA |
Summary
Company name Sidhu
Food B.V.
Operative address Jarmuiden 51B
1046AE Amsterdam
Netherlands
Legal form Private Company
Registration number KvK-nummer:
33306070
VAT-number 814745325
|
Year |
2014 |
Mutation |
2013 |
Mutation |
2012 |
|
Fixed assets |
661.058 |
-6,31 |
705.563 |
6,38 |
663.257 |
|
Total receivables |
691.839 |
20,50 |
574.124 |
-2,71 |
590.105 |
|
Total equity |
1.152.596 |
16,05 |
993.183 |
20,30 |
825.608 |
|
Short term liabilities |
491.026 |
-12,47 |
560.980 |
24,89 |
449.179 |
|
Working capital |
754.794 |
27,09 |
593.924 |
11,53 |
532.506 |
|
Quick ratio |
1,61 |
34,17 |
1,20 |
-19,46 |
1,49 |
Contact information
Company name Sidhu Food B.V.
Trade names Sidhu Food B.V.
Operative address Jarmuiden 51B
1046AE Amsterdam
Netherlands
Correspondence address Jarmuiden 51B
1046AE Amsterdam
Netherlands
Telephone number 0204710011
Fax number 0204111980
Website www.sidhu.nl
Registration
Registration number
KvK-nummer:
33306070
Branch number
000017617197
VAT-number 814745325
Status Active
First registration company register
2005-08-25
Memorandum
2005-08-23
Establishment date 1998-09-17
Legal form Private Company
Legal person since 2005-08-23
Issued placed capital
EUR
18.000
Paid up share capital EUR 18.000
Activities
SBI 4637: Wholesale
of coffee, tea, cocoa and spices (no raw)
46383: Wholesale
of other food n.e.c.
Exporter No
Importer Yes
Goal The import and wholesale of Indian spices and food
Relations
Shareholders Sidhu Holding
B.V.
Jarmuiden 51B
1046AE AMSTERDAM
Netherlands
Registration number: 34229474
Percentage: 100%
Management
Active management Sidhu Holding B.V.
Jarmuiden 51B
1046AE AMSTERDAM
Netherlands
Registration number: 34229474
Competence: Fully
authorized
Function: Manager
Starting date: 2005-08-23
Employees
|
Total according to the Chamber of Commerce |
3 |
|
Year |
2015 |
2012 |
2011 |
2010 |
2009 |
|
Total |
3 |
3 |
3 |
3 |
3 |
Payments
Description Overeenkomstig
conditie
Key figures |
|
|
|
|
|
|
Year |
2014 |
2013 |
2012 |
2011 |
2010 |
|
Quick ratio |
1,61 |
1,20 |
1,49 |
1,36 |
0,98 |
|
Current ratio |
2,54 |
2,06 |
2,19 |
1,84 |
1,62 |
|
Working capital/ balance total |
0,40 |
0,32 |
0,32 |
0,26 |
0,19 |
|
Equity / balance total |
0,60 |
0,53 |
0,50 |
0,42 |
0,34 |
|
Equity / Fixed assets |
1,74 |
1,41 |
1,24 |
0,96 |
0,66 |
|
Equity / liabilities |
1,53 |
1,15 |
1,01 |
0,72 |
0,51 |
|
Year |
2014 |
2013 |
2012 |
2011 |
2010 |
|
Balance total /
liabilities |
2,53 |
2,15 |
2,01 |
1,72 |
1,51 |
|
Working capital |
754.794 |
593.924 |
532.506 |
380.380 |
241.290 |
|
Equity |
1.152.596 |
993.183 |
825.608 |
626.253 |
432.819 |
|
Mutation equity |
16,05 |
20,30 |
31,83 |
44,69 |
31,36 |
|
Mutation short term
liabilities |
-12,47 |
24,89 |
-1,25 |
17,35 |
51,50 |
Summary
The 2014 financial result structure is a
postive working captial of 754.794 euro, which is in
agreement with 40 % of the total assets of
the company.
The working capital has increased with 27.09
% compared to previous year. The ratio, with
respect to the total assets of the company
has however, increased.
The improvement between 2013 and 2014 has
mainly been caused by an increase of the
current assets.
The current ratio of the company in 2014 was
2.54. A company with a current ratio between
1.5 and 3.0 generally indicates good
short-term financial strength.
The quick ratio in 2014 of the company was
1.61. A company with a Quick Ratio of more than
1 can currently pay back its current
liabilities.
The 2013 financial result structure is a
postive working captial of 593.924 euro, which is in
agreement with 32 % of the total assets of
the company.
The working capital has increased with 11.53
% compared to previous year. The ratio with
respect to the total assets of the company
remains unchanged.
The improvement between 2012 and 2013 has
mainly been caused by a current liabilities
reduction.
The current ratio of the company in 2013 was
2.06. A company with a current ratio between
1.5 and 3.0 generally indicates good
short-term financial strength.
The quick ratio in 2013 of the company was
1.2. A company with a Quick Ratio of more than
1 can currently pay
back its current liabilities.
Financial statement
Last annual account 2014
Remark annual account The company is
obliged to file its financial statements.
Type of annual account Corporate
Annual account Sidhu Food B.V.
Jarmuiden 51B
1046AE Amsterdam
Netherlands
Registration number:
33306070
Balance
|
Year |
2014 |
2013 |
2012 |
2011 |
2010 |
|
End date |
2014-12-31 |
2013-12-31 |
2012-12-31 |
2011-12-31 |
2010-12-31 |
|
Tangible fixed assets |
661.058 |
705.563 |
663.257 |
655.073 |
652.177 |
|
Fixed assets |
661.058 |
705.563 |
663.257 |
655.073 |
652.177 |
|
Total stock |
457.325 |
482.848 |
310.310 |
217.231 |
248.188 |
|
Total receivables |
691.839 |
574.124 |
590.105 |
569.849 |
368.133 |
|
Liquid funds |
96.656 |
97.932 |
81.270 |
48.182 |
12.613 |
|
Current assets |
1.245.820 |
1.154.904 |
981.685 |
835.262 |
628.934 |
|
Total assets |
1.906.878 |
1.860.467 |
1.644.942 |
1.490.335 |
1.281.111 |
|
Issued capital |
18.000 |
18.000 |
18.000 |
18.000 |
|
|
Other reserves |
975.187 |
799.554 |
608.253 |
414.819 |
432.819 |
|
Non-distributable profit |
159.409 |
175.629 |
199.355 |
193.434 |
|
|
Total reserves |
1.134.596 |
975.183 |
807.608 |
608.253 |
432.819 |
|
Total equity |
1.152.596 |
993.183 |
825.608 |
626.253 |
432.819 |
|
Long term interest
yielding debt |
263.256 |
306.304 |
370.155 |
409.200 |
460.648 |
|
Long term liabilities |
263.256 |
306.304 |
370.155 |
409.200 |
460.648 |
|
Short term liabilities |
491.026 |
560.980 |
449.179 |
454.882 |
387.644 |
|
Total short and
long term liabilities |
754.282 |
867.284 |
819.334 |
864.082 |
848.292 |
|
Total liabilities |
1.906.878 |
1.860.467 |
1.644.942 |
1.490.335 |
1.281.111 |
Summary
The total assets of the company increased
with 2.49 % between 2013 and 2014.
Despite the assets growth, the non current
assets decreased with -6.31 %.
The assets growth has been financed by a Net
Worth increase of 16.05 %. The company's
net increase has also covered a reduction of
-13.03 % of the company's indebtedness.
In 2014 the assets of the company were 34.67
% composed of fixed assets and 65.33 % by
current assets. The assets are being financed
by an equity of 60.44 %, and total debt of
39.56 %.
The total assets of the company increased
with 13.1 % between 2012 and 2013.
The fixed asset growth of 6.38 % is lower
than the total asset growth.
The asset growth has mainly been financed by
a Net Worth increase of 20.3 %. Debt,
however, grew with 5.85 %.
In 2013 the assets of the company were 37.92
% composed of fixed assets and 62.08 % by
current assets. The assets are being financed
by an equity of 53.38 %, and total debt of
46.62 %.
Analysis
Branch (SBI) Wholesale trade
(no motor vehicles and motorcycles) (SBI code 46)
Region Groot Amsterdam
Summary In the Netherlands
109662 of the companies are registered with the SBI code 46
In the region Groot Amsterdam 10512 of the
companies are registered with the SBI code 46
In the Netherlands 2387 of the bankrupcties
are published within this sector
In the region Groot Amsterdam 209 of the
bankruptcies are published within this sector
The risk of this specific sector in the
Netherlands is normal
The risk of this specific sector in the
region Groot Amsterdam is normal
Publications
Deposits 25-08-2015: De jaarrekening
over 2014 is gepubliceerd.
25-03-2015: De jaarrekening over 2013 is
gepubliceerd.
09-12-2013: De jaarrekening over 2012 is
gepubliceerd.
12-02-2013: De jaarrekening over 2011 is
gepubliceerd.
01-02-2012: De jaarrekening over 2010 is gepubliceerd.
Company structure
Relations 2
|
Company |
Registration
Number |
|
Sidhu Holding B.V.
(AMSTERDAM) |
34229474 |
|
| - -
Sidhu Food B.V.
(Amsterdam) |
33306070 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.15 |
|
|
1 |
Rs.100.54 |
|
Euro |
1 |
Rs.73.97 |
INFORMATION DETAILS
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Analysis Done by
: |
RAS |
|
|
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
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 |
|
|
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 |
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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.