3decades

MIRA INFORM REPORT

Report No. :	501614
Report Date :	07.04.2018

IDENTIFICATION DETAILS

Name :	MOBELARTE EL MOLI SL

Registered Office :	Av/ Blasco Ibañez, 115 - Bajo. - Albal - 46470 - Valencia

Country :	Spain

Financials (as on) :	2016

Date of Incorporation :	02.01.2013

Legal Form :	Private Limited Company

Line of Business :	Subject is engaged in manufacture, import, export, purchase and sale, whole and retail trade, as well as the distribution, intermediation and services related to furniture and decoration items.

No. of Employees :	Not Available

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

Credit Rating	Explanation	Rating Comments
B	Medium Risk	Business dealings permissible on a regular monitoring basis

Status :	Moderate

Payment Behaviour :	Slow

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

Country Name

Previous Rating

(30.09.2017)

Current Rating

(31.12.2017)

Spain

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderately Low Risk	B1
Moderate Risk	B2
Moderately High Risk	C1
High Risk	C2
Very High Risk	D

SPAIN - ECONOMIC OVERVIEW

After a prolonged recession that began in 2008 in the wake of the global financial crisis, Spain marked the fourth full year of positive economic growth in 2017, with economic activity surpassing its pre-crisis peak, largely because of increased private consumption. The financial crisis of 2008 broke 16 consecutive years of economic growth for Spain, leading to an economic contraction that lasted until late 2013. In that year, the government successfully shored up its struggling banking sector - heavily exposed to the collapse of Spain’s real estate boom - with the help of an EU-funded restructuring and recapitalization program.

Until 2014, contraction in bank lending, fiscal austerity, and high unemployment constrained domestic consumption and investment. The unemployment rate rose from a low of about 8% in 2007 to more than 26% in 2013, but labor reforms prompted a modest reduction to 16.4% in 2017. High unemployment strained Spain's public finances, as spending on social benefits increased while tax revenues fell. Spain’s budget deficit peaked at 11.4% of GDP in 2010, but Spain gradually reduced the deficit to about 3.3% of GDP in 2017. Public debt has increased substantially – from 60.1% of GDP in 2010 to nearly 96.7% in 2017.

Strong export growth helped bring Spain's current account into surplus in 2013 for the first time since 1986 and sustain Spain’s economic growth. Increasing labor productivity and an internal devaluation resulting from moderating labor costs and lower inflation have improved Spain’s export competitiveness and generated foreign investor interest in the economy, restoring FDI flows.

In 2017, the Spanish Government’s minority status constrained its ability to implement controversial labor, pension, health care, tax, and education reforms. The European Commission expects the government to meet its 2017 budget deficit target and anticipates that expected economic growth in 2018 will help the government meet its deficit target. Spain’s borrowing costs are dramatically lower since their peak in mid-2012, and increased economic activity has generated a modest level of inflation, at 2% in 2017.

Source : CIA

EXECUTIVE SUMMARY

Name:

MOBELARTE EL MOLI SL

NIF / Fiscal code:

B98499361

Status:

ACTIVE

Incorporation Date:

02/01/2013

Last Publication in BORME:

07/03/2013 [Appointments]

Last Published Account Deposit:

2016

Share Capital:

3.000

Localization:

AV/ BLASCO IBAÑEZ, 115 - BAJO. - ALBAL - 46470 - VALENCIA

Telephone - Fax - Email - Website:

Telephone. 902 884 088 / 963 726 224 Email. pedidos@mobelarte.com Website. www.mobelarte.com/

Activity:

NACE:

3109 - Manufacture of other furniture

Registered Trademarks:

Audited / Opinion:

Tenders and Awards:

Subsidies:

0 for a total cost of 0

Quality Certificate:

Payment Behaviour:

slow

Prospects:

Face recession

Industry situation:

Maturity

Defaults, Legal Claims and Insolvency Proceedings :

Number

Amount (€)

Most Recent Entry

Insolvency Proceedings, Bankruptcy and Suspension of Payments

Unpublished

---

Defaults on debt with Financial Institutions and Large Companies

None

---

Judicial Claims (Notices, Executive Proceedings, Attachments, Auctions, Bad Debt)

---

Proceedings heard by the Civil Court

Unpublished

---

Proceedings heard by the Labour Court

Unpublished

---

Partners:

Enquiry Details

Business address regime:

Rent

Identification

Social Denomination:

MOBELARTE EL MOLI SL

NIF / Fiscal code:

B98499361

Corporate Status:

ACTIVE

Start of activity:

2013

Registered Office:

AV/ BLASCO IBAÑEZ, 115 - BAJO.

Locality:

ALBAL

Province:

VALENCIA

Postal Code:

46470

Telephone:

902 884 088 / 963 726 224

Website:

www.mobelarte.com/

Email:

pedidos@mobelarte.com

Interviewed Person:

Mr Miguel

Branch Offices

Activity

NACE:

3109

Corporate Purpose:

The subject is involved in the manufacture, import, export, purchase and sale, whole and retail trade, as well as the distribution, intermediation and services related to furniture and decoration items.

Additional Information:

Manufacture and marketing of furniture.

Additional Address:

AV/ BLASCO IBAÑEZ, 115 - BAJO. 46470 ALBAL (VALENCIA), Registered Office for tax purposes.

Import / export:

DOES NOT IMPORT / DOES NOT EXPORT

Future Perspective:

Face recession

Industry situation:

Maturity

Chronological Summary

Year

Act

2013

Appointments/ Re-elections (1) Company Formation (1)

2016

Accounts deposit (year 2013)

2017

Accounts deposit (year 2014, 2015, 2016)

Breakdown of Owners' Equity

Registered Capital:

3.000

Paid up capital:

3.000

Shareholders

Name

NIF

% Shareholding stake

Updated Evolution of the Subscribed and Paid-in Capital

Publishing Date

Registration Type

Capital Subscribed

Paid up capital

Underwritten result

Disbursed Result

28/02/2013

Company Formation

3.000

Active Social Bodies

Post published

Social Body's Name

Appointment Date

Other Positions in this Company

SINGLE ADMINISTRATOR

SARRIAS MORAGREGA MIGUEL

28/02/2013

Historical Social Bodies

Social Body's Name

Post published

End Date

Other Positions in this Company

| //c\\

Executive board

Post

NIF

Name

ADMINISTRATOR

MIGUEL SARRIAS MORAGREGA

DIRECTOR/GENERAL MANAGER

MIGUEL SARRIAS MORAGREGA

Defaults, Legal Claims and Insolvency Proceedings

Section enabling assessment of the degree of compliance of the company queried with its payment obligations. It provides information on the existence and nature of all stages of Insolvency and Legal Proceedings published with reference to the Company in the country's various Official Bulletins and national newspapers, as well Defaults Registered in the main national credit bureaus (ASNEF Industrial and RAI ).

> Summary

Chronological summary

Number of Publications

Amount (€)

Start date

End date

Insolvency Proceedings, Bankruptcy and Suspension of Payments

Unpublished

---

Request/Declaration

---

date

Proceedings

---

Resolution

---

Defaults on debt with Financial Institutions and Large Companies

Bank and Commercial Delinquency

None

Status: Friendly

---

Status: Pre-Litigation

---

Status: Litigation

---

Status: Non-performing

---

Status: insolvency proceedings, bankruptcy and suspension of payments

---

Other status

---

Legal and Administrative Proceedings

---

24/02/2015

13/03/2018

Notices of defaults and enforcement

---

Seizures

---

Auctions

---

Declarations of insolvency and bad debt

---

Proceedings heard by the Civil Court

Unpublished

---

Proceedings heard by the Labour Court

Unpublished

---

> Details

Positive Factors

Adverse Factors

No irregular payment performance has been detected based on information obtained from credit bureaus.

Adequate level of financial autonomy. The financial autonomy of the entity represents the 34.75%. In principle, an increase in this ratio would indicate an improvement in the corporate's balace sheets.

It has financial profitability.. MOBELARTE EL MOLI SLobtains financial return as a consequence of an investment in its own resources which, a priori, might improve its financial and economic situation.

It presents a efficient productivity. Gross margin shows adequate efficiency of the company in the variable costs associated with production.

Sales profitability. The volume of business generated during the financial year was enough to cover the expenses before considering the tax effect.

The current debt represents a 65.25 % of the financial structure. In principle, a decrease in this ratio would indicate an improvement in the short-term financial situation.

The company denotes a special dependence short-term financing which, a priori, could cause problems of short-term solvency.

Reduced cash level and other liquid assets equivalent in relation to the volume of operations held. In principle, a decrease in this ratio would indicate a worsening in the Company's financial situation.

There is a reduction on the sales turnoverso the Company´s results may be affected.

It is in a Development stage. It has scarce experience in the Sector, characterized by not having yet achieved a strong market position.

TREND OF SCORING

> Latest Scoring Changes :

Scoring

Evolution

Date

Event

wordml://1585

Neutral

20/03/18

Review of legal claims against the name of the individual in question.

Positive

07/09/17

Updating of financial statements.

Negative

18/04/17

Updating of financial statements.

Neutral

10/04/17

Revision of the scoring due to modifications in activity consideration

Legal implications checking for the company.

Probability of default

> Estimated Probability of Default for the next 12 months: 2.487 %

> Latest Scoring Changes:

Sector in which comparison is carried out:

310 Manufacture of furniture

wordml://1674

Relative Position:

Credit quality is superior to that of other companies in the same sector.

The company's comparative analysis with the rest of the companies that comprise the sector, shows the company holds a better position with regard to the probability of non-compliance.

The 64.00% of the companies of the sector MOBELARTE EL MOLI SL belongs to show a higher probability of non-compliance.

The probability of the company's non-compliance with its payment obligations within deadlines estimated by our qualifications models is 2,487%.

In the event they fail to comply with the payment, the seriousness of the loss will depend on factors such as the promptness of the commencement of the charging management, the existence of executive documents which match the credit or the existence of guarantees and free debt assets under the name of the debtor. Therefore, the probability of non-compliance should not be solely interpreted as the total loss of the owed amount.

Result of query submitted to the R.A.I. (Spanish Bad Debt Register) on

LEGAL CLAIMS

Summary of Judicial Claims

PROCEDURES OF CONTEST, BANKRUPTCY AND BANKRUPTCY PROTECTION

Legal Proceedings (Bankruptcy Law 22/2003)

Not published

Quiebras y Suspensiones de Pagos (anterior legislación concursal)

Not published

INCIDENCES WITH THE PUBLIC ADMINISTRATIONS

Incidences with the Tax Agency

Not published

Incidences with the Social Security

Not published

Incidences with the Autonomous Administration

Not published

Incidences with the Local Administration

4 Legal Claims whose amounts have not been published

PROCEDURES BEFORE COURTS OF CIVIL MATTERS

Procedures by the Civil Procedural Law 1/2000

Not published

Proceedings by the old Civil Procedural Law 1.881

Not published

PROCEEDINGS BEFORE THE INDUSTRIAL TRIBUNAL

Proceedings before the Industrial Tribunal

Not published

Incidences Detailed

Incidences with the Local Administration

PROCESSED BY THE LOCAL GOVERNMENT DE ALBAL (VALENCIA) - Date 13/03/2018

Last Published Stage:

EXECUTION NOTIFICATION

Record Number:

20175246007IV01R006375

Requested by:

ADMINISTRACION LOCAL

Published domicile:

(DESCONOCIDA)

Source:

B.O.E. Nº66, 2018 SUPLEMENTO 1 PAGINA 9609

PROCESSED BY THE LOCAL GOVERNMENT DE ALBAL (VALENCIA) - Date 25/04/2017

Last Published Stage:

EXECUTION NOTIFICATION

Record Number:

20165246007IV01R007124

Requested by:

ADMINISTRACION LOCAL

Published domicile:

(DESCONOCIDA)

Source:

B.O.E. Nº105, 2017 SUPLEMENTO 1 PAGINA 5817

PROCESSED BY THE LOCAL GOVERNMENT DE ALBAL (VALENCIA) - Date 12/04/2016

Last Published Stage:

EXECUTION NOTIFICATION

Requested by:

ADMINISTRACION LOCAL

Published domicile:

(DESCONOCIDA)

Source:

B.O.E. Nº95, 2016 SUPLEMENTO 1 PAGINA 11439

PROCESSED BY THE LOCAL GOVERNMENT DE ALBAL (VALENCIA) - Date 24/02/2015

Last Published Stage:

EXECUTION NOTIFICATION

Requested by:

ADMINISTRACION LOCAL

Published domicile:

(DESCONOCIDA)

Source:

B.O.P. VALENCIA Nº44, 2015 PAGINA 290

Guarantees

References

Turnover

Total Sales 2017

180.000

The sales data is from the latest available financial statements in. Failing that, are estimates data calculated by statistical methods.

Estimated Balance

Its Turnover decreased by 26.88% in 2016, compared to the previous year. The result for the year was 30% lower than that of 2015.

Financial Accounts and Balance Sheets

Financial Years Presented

Ejercicio

Tipo de Cuentas Anuales

Fecha Presentacion

2016

Normales

September 2017

2015

Normales

September 2017

2014

Normales

April 2017

2013

Normales

December 2016

The data in the report regarding the last Company Accounts submitted by the company is taken from the TRADE REGISTER serving the region in which the company's address is located 31/12/2016

> Balance en formato Pyme de acuerdo al Nuevo Plan General Contable 2007

Information corresponding to the fiscal year 2016 2015 2014 2013 is taken from information submitted to the TRADE REGISTER. Data corresponding to fiscal years before 2016 2015 2014 2013 has been compiled based on the equivalence criteria stipulated in Act JUS/206/2009. Where the provisions of the Act did not establish relevant equivalence criteria. To view details on the methodology.

ORIGINAL

Assets

2016

2015

2014

2013

A) NON-CURRENT ASSETS: 11000

2.100,00

2.400,00

2.700,00

3.000,00

I. Intangible fixed assets : 11100

0,00

II. Tangible fixed assets : 11200

2.100,00

2.400,00

2.700,00

3.000,00

III. Real estate investment: 11300

0,00

IV. Long-term investments in Group companies and associates : 11400

0,00

V. Long-term financial investments: 11500

0,00

VI. Assets for deferred tax : 11600

0,00

VII. Non-current trade debtors : 11700

0,00

B) CURRENT ASSETS: 12000

76.293,00

42.863,00

9.492,00

5.788,00

I. Stocks : 12200

67.250,00

34.058,00

0,00

II. Trade debtors and others receivable accounts : 12300

8.874,00

8.664,00

9.433,00

4.989,00

1. Trade debtors / accounts receivable: 12380

8.597,00

7.401,00

0,00

a) Long-term receivables from sales and services supplied : 12381

8.597,00

0,00

b) Customers for sales and provisions of services : 12382

0,00

7.401,00

0,00

2. Called up share capital: 12370

0,00

3. Other accounts receivable : 12390

276,00

1.263,00

9.433,00

4.989,00

III. Short-term investment in Group companies and associates: 12400

0,00

IV. Short-term financial investments : 12500

0,00

V. Short-term accruals : 12600

0,00

VI. Cash and other equivalent liquid assets : 12700

170,00

140,00

59,00

799,00

TOTAL ASSETS (A + B) : 10000

78.393,00

45.263,00

12.192,00

8.788,00

ORIGINAL

Liabilities and Net Worth

2016

2015

2014

2013

A) NET WORTH: 20000

27.246,00

4.259,00

-28.808,00

-16.212,00

A-1) Shareholders' equity: 21000

27.246,00

4.259,00

-28.808,00

-16.212,00

I. Capital: 21100

3.000,00

1. Registered capital : 21110

3.000,00

2. (Uncalled capital): 21120

0,00

II. Share premium: 21200

0,00

III. Reserves: 21300

1.259,00

0,00

1. Capitalisation Reserves: 21350

0,00

2. Otras Reservas: 21360

1.259,00

0,00

IV. (Common stock equity): 21400

0,00

V. Profit or loss brought forward: 21500

0,00

-31.808,00

-19.212,00

0,00

VI. Other shareholders' contributions: 21600

0,00

VII. Result of the period: 21700

22.986,00

33.067,00

-12.596,00

-19.212,00

VIII. (Interim dividend): 21800

0,00

A-2) Changes in net worth : 22000

0,00

A-3) Received subsidies, donations and legacies: 23000

0,00

B) NON-CURRENT LIABILITIES: 31000

0,00

I. Long-term provisions: 31100

0,00

II. Long-term creditors : 31200

0,00

1. Amounts owed to credit institutions: 31220

0,00

2. Creditors from financial leasing : 31230

0,00

3. Other long-term creditors : 31290

0,00

III. Long-term debts with Group companies and associates: 31300

0,00

IV. Liabilities for deferred tax: 31400

0,00

V. Long-term accruals: 31500

0,00

VI. Non-current trade creditors : 31600

0,00

VII. Special long-term debts : 31700

0,00

C) CURRENT LIABILITIES : 32000

51.148,00

41.004,00

41.000,00

25.000,00

I. Short-term provisions: 32200

0,00

II. Short-term creditors : 32300

38.950,00

40.250,00

41.000,00

25.000,00

1. Amounts owed to credit institutions: 32320

0,00

2. Creditors from financial leasing : 32330

0,00

3. Other short-term creditors : 32390

38.950,00

40.250,00

41.000,00

25.000,00

III. Short-term amounts owed to group and associated companies: 32400

0,00

IV. Trade creditors and other accounts payable: 32500

12.198,00

753,00

0,00

1. Suppliers: 32580

3.521,00

0,00

a) Long-term debts : 32581

0,00

b) Short-term debts : 32582

3.521,00

0,00

2. Other creditors: 32590

8.677,00

753,00

0,00

V. Short-term accruals : 32600

0,00

VI. Special short-term debts : 32700

0,00

TOTAL NET WORTH AND LIABILITIES (A + B + C) : 30000

78.393,00

45.263,00

12.192,00

8.788,00

ORIGINAL

Profit and Loss

2016

2015

2014

2013

1. Net turnover: 40100

183.655,00

251.181,00

205.172,00

41.061,00

2. Changes in stocks of finished goods and work in progress: 40200

0,00

3. Works carried out by the company for its assets: 40300

0,00

4. Supplies : 40400

-140.875,00

-211.101,00

-217.468,00

-60.273,00

5. Other operating income: 40500

0,00

6. Personnel costs: 40600

-11.831,00

-6.213,00

0,00

7. Other operating costs: 40700

0,00

-500,00

0,00

8. Amortisation of fixed assets: 40800

-300,00

0,00

9. Allocation of subsidies of non-financial fixed assets and other: 40900

0,00

10. Excess provisions : 41000

0,00

11. Impairment and result of transfers of fixed assets: 41100

0,00

12. Other results : 41300

0,00

A) OPERATING INCOME (1 + 2 + 3 + 4 + 5 + 6 + 7 + 8 + 9 + 10 + 11 + 12) : 49100

30.649,00

33.067,00

-12.596,00

-19.212,00

13. Financial income : 41400

0,00

a) Allocation of financial subsidies, donations and legacies: 41430

0,00

b) Other financial income: 41490

0,00

14. Financial expenditure : 41500

0,00

15. Changes in fair value of financial instruments : 41600

0,00

16. Exchange rate differences: 41700

0,00

17. Impairment and result for transfers of financial instruments : 41800

0,00

18. Other financial income and expenditure: 42100

0,00

a) Incorporation of financial expenditure to assets: 42110

0,00

b) Financial income from arrangement with creditors: 42120

0,00

c) Other income and expenditure: 42130

0,00

B) FINANCIAL REVENUE ( 13 + 14 + 15 + 16 + 17 +18 ) : 49200

0,00

C) NET RESULT BEFORE TAXES ( A + B ) : 49300

30.649,00

33.067,00

-12.596,00

-19.212,00

19. Income taxes : 41900

-7.662,00

0,00

D) RESULT OF THE PERIOD ( C + 19 ) : 49500

22.986,00

33.067,00

-12.596,00

-19.212,00

CASHFLOW STATEMENT

Model: Normal

> Source of information: Data contained in this section is taken from the information declared in the Annual Accounts submitted to the Trade Register.

Net Rights Granted

2016

2015

2014

2013

1. Fiscal year result before taxes.: 61100

30.649,00

33.067,00

-12.596,00

-19.212,00

2. Results adjustments.: 61200

300,00

0,00

a) Fixed Assets Amortization (+).: 61201

300,00

0,00

3. Changes in current capital equity.: 61300

-29.619,00

-32.536,00

-4.444,00

-4.989,00

a) Stock (+/-).: 61301

-33.192,00

-34.058,00

0,00

d) Debtors and other accounts receivable (+/-). : 61302

-209,00

768,00

-4.444,00

-4.989,00

d) Creditors and other accounts payable (+/-). : 61304

3.782,00

753,00

0,00

4. Cash Flows from Other Operating Activities: 61400

0,00

5. Cash Flows from Operating Activities (1 + 2 + 3 + 4) : 61500

1.330,00

831,00

-16.740,00

-24.201,00

6. Payments for investment (-).: 62100

0,00

-3.000,00

c) Fixed assets. : 62103

0,00

-3.000,00

7. Divestment payment collection (+). : 62200

300,00

0,00

c) Fixed assets. : 62203

300,00

0,00

8. Cash Flow from Investing Activities (6+7) less Amortization: 62300

0,00

-3.000,00

9. Payment collection and payments for equity instruments. : 63100

0,00

3.000,00

a) Issuance of equity instruments (+). : 63101

0,00

3.000,00

10. Payment collection and payments for financial liabilities instruments.: 63200

-1.300,00

-750,00

16.000,00

25.000,00

a) Issuance : 63201

0,00

16.000,00

25.000,00

5. Other debts (+). : 63206

0,00

16.000,00

25.000,00

b) Repayment and amortization of : 63207

-1.300,00

-750,00

0,00

5. Other debts (-). : 63212

-1.300,00

-750,00

0,00

11. Payments from dividends and remunerations from other assets instruments. : 63300

0,00

12. Cash Flows from Financing Activities (9+10+11): 63400

-1.300,00

-750,00

16.000,00

28.000,00

D) EFFECT OF EXCHANGE RATE CHANGES: 64000

0,00

E) NET INCREASE/DECREASE OF CASH OR EQUIVALENT ASSETS (+/-5+/-8+/12+/-D) : 65000

30,00

81,00

-740,00

799,00

Cash or equivalent assets as of beginning of the fiscal year.: 65100

140,00

59,00

799,00

0,00

Cash or equivalent assets as of end of the fiscal year.: 65200

170,00

140,00

59,00

799,00

FINANCIAL DIAGNOSIS

> Economic-Financial Comparative Analysis

Data used in the following ratios and indicators is taken from the Annual Accounts submitted by the company to the TRADE REGISTER.

> Comparison within the Sector

Cash Flow

2016

2015

Variación 2016 - 2015

Empresa

Sector

Empresa

Sector

Empresa

Sector

Cash Flow over Sales:

0,00 %

0,01 %

0,00 %

0,01 %

10,77 %

Net Financial Debt:

1,25

1,83

1,20

2,16

4,24

-15,49

Cash Flow Yield:

0,00 %

0,01 %

0,00 %

0,01 %

7,71 %

EBITDA over Sales:

16,85 %

6,68 %

13,28 %

6,39 %

26,85 %

4,53 %

Profitability

2016

2015

Variación 2016 - 2015

Empresa

Sector

Empresa

Sector

Empresa

Sector

Operating economic profitability:

39,10 %

4,39 %

73,06 %

3,92 %

-46,49 %

12,05 %

Total economic profitability:

39,10 %

4,44 %

73,06 %

3,96 %

-46,49 %

12,28 %

Financial profitability:

84,37 %

5,55 %

776,39 %

4,60 %

-89,13 %

20,73 %

Margin:

16,69 %

4,45 %

13,16 %

3,94 %

26,76 %

13,07 %

Mark-up:

16,69 %

4,49 %

13,16 %

3,56 %

26,76 %

25,95 %

Solvency

2016

2015

Variación 2016 - 2015

Empresa

Sector

Empresa

Sector

Empresa

Sector

Liquidity:

0,00

0,38

0,00

0,34

12,46

Acid Test:

0,18

1,19

0,21

1,17

-17,66

1,72

Working Capital / Investment:

0,32

0,23

0,04

0,21

680,93

10,07

Solvency:

1,49

1,88

1,05

1,78

42,69

5,68

Indebtedness

2016

2015

Variación 2016 - 2015

Empresa

Sector

Empresa

Sector

Empresa

Sector

Indebtedness level:

1,88

0,85

9,63

0,92

-80,50

-6,69

Borrowing Composition:

0,00

0,66

0,00

0,67

-1,40

Repayment Ability:

1,65

8,98

1,23

9,47

34,49

-5,15

Warranty:

1,53

2,17

1,10

2,09

38,85

3,73

Generated resources / Total creditors:

0,46

0,10

0,81

0,09

-44,05

9,42

Efficiency

2016

2015

Variación 2016 - 2015

Empresa

Sector

Empresa

Sector

Empresa

Sector

Productivity:

3,62

1,30

6,37

1,30

-43,24

0,16

Turnover of Collection Rights :

20,70

4,85

28,99

4,74

-28,61

2,31

Turnover of Payment Entitlements:

11,55

3,12

280,86

3,16

-95,89

-1,19

Stock rotation:

2,28

4,30

6,40

4,91

-64,47

-12,59

Assets turnover:

2,34

0,99

5,55

0,99

-57,78

-0,90

Borrowing Cost:

0,00

1,53

0,00

1,77

-13,42

> Trend of indicators under the General Accounting Plan of 2007 (2016, 2015, 2014, 2013)

Cash Flow

2016

2015

2014

2013

Cash Flow over Sales:

0,00 %

0,02 %

Net Financial Debt:

1,25

1,20

-3,33

-1,26

Cash Flow Yield:

0,00 %

-0,06 %

0,09 %

EBITDA over Sales:

16,85 %

13,28 %

-5,99 %

-46,79 %

Profitability

2016

2015

2014

2013

Operating economic profitability:

39,10 %

73,06 %

-103,31 %

-218,62 %

Total economic profitability:

39,10 %

73,06 %

-103,31 %

-218,62 %

Financial profitability:

84,37 %

776,39 %

-43,72 %

-118,50 %

Margin:

16,69 %

13,16 %

-6,14 %

-46,79 %

Mark-up:

16,69 %

13,16 %

-6,14 %

-46,79 %

Solvency

2016

2015

2014

2013

Liquidity:

0,00

0,03

Acid Test:

0,18

0,21

0,23

Working Capital / Investment:

0,32

0,04

-2,58

-2,19

Solvency:

1,49

1,05

0,23

Indebtedness

2016

2015

2014

2013

Indebtedness level:

1,88

9,63

-1,42

-1,54

Borrowing Composition:

0,00

Repayment Ability:

1,65

1,23

-3,33

-1,30

Warranty:

1,53

1,10

0,30

0,35

Generated resources / Total creditors:

0,46

0,81

-0,30

-0,77

Efficiency

2016

2015

2014

2013

Productivity:

3,62

6,37

Turnover of Collection Rights :

20,70

28,99

21,75

8,23

Turnover of Payment Entitlements:

11,55

280,86

Stock rotation:

2,28

6,40

Assets turnover:

2,34

5,55

16,83

4,67

Borrowing Cost:

0,00

COMPARATIVE SECTORIAL BALANCE

Sector-based Comparison under the rules of the New General Accounting Plan.

Net Rights Granted

Variación -

Empresa

Sector

Net Rights Granted

Variación -

Empresa

Sector

Net Rights Granted

Variación -

Empresa

Sector

News

Public Tenders and Works Won

No Public Tenders assigned to the name of the company.

Research Summary

Answer to additional question

The subject does not have premises located at Avd Diagonal , 453 Bis 08036 Barcelona, according to the consulted sources.

Sources

Registry of Commerce's Official Gazette. Own and external data bases Company References

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 64.98
UK Pound	1	INR 90.95
Euro	1	INR 79.51
Euro	1	INR 79.84

Note : Above are approximate rates obtained from sources believed to be correct

INFORMATION DETAILS

Analysis Done by :	VAR

Report Prepared by :	DNS

RATING EXPLANATIONS

Credit Rating	Explanation	Rating Comments
A++	Minimum Risk	Business dealings permissible with minimum risk of default
A+	Low Risk	Business dealings permissible with low risk of default
A	Acceptable Risk	Business dealings permissible with moderate risk of default
B	Medium Risk	Business dealings permissible on a regular monitoring basis
C	Medium High Risk	Business dealings permissible preferably on secured basis
D	High Risk	Business dealing not recommended or on secured terms only
NB	New Business	No recommendation can be done due to business in infancy stage
NT	No Trace	No recommendation can be done as the business is not traceable

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

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 are as follows:

· Financial condition covering various ratios

· Company background and operations size

· Promoters / Management background

· Payment record

· Litigation against the subject

· Industry scenario / competitor analysis

· Supplier / Customer / Banker review (wherever available)

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.

MIRA INFORM REPORT

EXECUTIVE SUMMARY

Enquiry Details

Identification

Branch Offices

Activity

Chronological Summary

Breakdown of Owners' Equity

Shareholders

Updated Evolution of the Subscribed and Paid-in Capital

Active Social Bodies

Historical Social Bodies

Executive board

Defaults, Legal Claims and Insolvency Proceedings

TREND OF SCORING

Probability of default

LEGAL CLAIMS

Guarantees

Turnover

Estimated Balance

Financial Accounts and Balance Sheets

CASHFLOW STATEMENT

FINANCIAL DIAGNOSIS

COMPARATIVE SECTORIAL BALANCE

News

Public Tenders and Works Won

Research Summary

Answer to additional question

Sources

Unit