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MIRA INFORM REPORT
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Report No. : |
485464 |
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Report Date : |
16.01.2018 |
IDENTIFICATION DETAILS
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Name : |
BRADMILL OUTDOOR FABRICS PTY LTD |
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Registered Office : |
3, 100 Fulton Dr Derrimut, VIC 3030 |
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Country : |
Australia |
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Financials (as on) : |
30.11.2016 |
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Date of Incorporation : |
22.01.1988 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
The subject operates in the manufacture and distribution of outdoor
fabrics for domestic, commercial and defence applications. |
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No. of Employees : |
31 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Satisfactory |
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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
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Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
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Australia |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
AUSTRALIA - ECONOMIC OVERVIEW
Following two decades of continuous growth, low unemployment, contained
inflation, very low public debt, and a strong and stable financial system, Australia
enters 2017 facing a range of growth constraints, principally driven by the
sharp fall in global prices of key export commodities. Demand for resources and
energy from Asia and especially China has stalled and sharp drops in current
prices have impacted growth.
The services sector is the largest part of the Australian economy,
accounting for about 70% of GDP and 75% of jobs. Australia was comparatively
unaffected by the global financial crisis as the banking system has remained
strong and inflation is under control.
Australia benefited from a dramatic surge in its terms of trade in
recent years, although this trend has reversed due to falling global commodity
prices. Australia is a significant exporter of natural resources, energy, and
food. Australia's abundant and diverse natural resources attract high levels of
foreign investment and include extensive reserves of coal, iron, copper, gold,
natural gas, uranium, and renewable energy sources. A series of major
investments, such as the US$40 billion Gorgon Liquid Natural Gas Project, will
significantly expand the resources sector.
Australia is an open market with minimal restrictions on imports of
goods and services. The process of opening up has increased productivity,
stimulated growth, and made the economy more flexible and dynamic. Australia
plays an active role in the WTO, APEC, the G20, and other trade forums.
Australia’s free trade agreement (FTA) with China entered into force in 2015,
adding to existing FTAs with the Republic of Korea, Japan, Chile, Malaysia, New
Zealand, Singapore, Thailand, and the US, and a regional FTA with ASEAN and New
Zealand. Australia continues to negotiate bilateral agreements with India and
Indonesia, as well as larger agreements with its Pacific neighbors and the Gulf
Cooperation Council countries, and an Asia-wide Regional Comprehensive Economic
Partnership that includes the 10 ASEAN countries and China, Japan, Korea, New
Zealand and India.
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Source
: CIA |
CORPORATE
REPORT
REGISTERED NAME BRADMILL OUTDOOR FABRICS PTY LTD
ACN: 006 911 119
ABN: 16 006 911 119
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Summary Panel |
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Incorporated |
1988 |
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Line of Business |
Manufacture and distribution of outdoor fabrics |
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Status |
Trading |
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EXECUTIVE
SUMMARY
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Bradmill Outdoor Fabrics P/L |
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As at 30 Nov 2016 |
As at 30 Nov 2015 |
Change (%) |
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Revenue |
$5,595,807.00 |
$7,127,980.00 |
-21.50% |
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Profit b/tax |
$513,848.00 |
($540,601.00) |
-195.05% |
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Profit a/tax |
$432,169.00 |
($540,601.00) |
-179.94% |
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Net Profit Margin |
7.72% |
-7.58% |
15.31% |
During fiscal 2016, the subject recorded Net Cashflows from operating
activities totalling $778,066
As at 30 November 2016 the subject recorded Working Capital of $2,256,440
and a current ratio of 2.45 to 1 indicating a sound liquidity position.
Net Assets totalled $2,924,148 as at 30 November 2016. Nil intangibles
were recorded at this time.
CORPORATE
SEARCH
Company Type Australian Proprietary
Company
INCORPORATED 22
January 1988
REGISTERED ADDRESS 3, 100
Fulton Dr
Derrimut,
VIC 3030
SHARECAPITAL $10,000
SHAREHOLDERS THE
BRITISH MILLERAIN CO LTD Holds
10,000
DIRECTORS LAINO, ANTONIO –
Appointed 9 Oct 2015
3
Francis St
HADFIELD,
VIC 3046
MILLER,
Michael Anthony – Appointed 16.02.1988
Resident
overseas
SECRETARY Not shown
SECURITY
INTERESTS
Effective 30 January 2012 the Personal Property Securities Register
(PPSR) was introduced to give the
different Commonwealth, State and Territory laws and registers regarding
security interests in personal property under one national system.
As a result of PPS Reform a number of existing Commonwealth, State and
Territory personal property security registers will close. Interests registered
on existing security interest registers will be migrated to the national PPS
Register. Subsequently Registered Charges are no longer lodged with the
Australian Securities and Investments Commission (ASIC).
BUSINESS STRUCTURE
TRADING ADDRESS Unit 3, 100 Fulton Dr
DERRIMUT,
VIC 3030
TELEPHONE (613)
9368 2222
FACSIMILE (613)
9368 2211
WEBSITE http://bradmilloutdoor.com.au/
HOLDING ENITITY THE
BRITISH MILLERAIN CO LTD - UK
BANK HSBC
BANK AUSTRALIA
EMPLOYEES 31
BACKGROUND
The subject was incorporated in Victoria on 22 January 1988 as Mejac Pty
Ltd, changing name on 16 February 1988 to Stormaster Fabrics Pty Ltd, before adopting
the current style on 11 January 2001.
OPERATIONS
The subject operates in the manufacture and distribution of outdoor
fabrics for domestic, commercial and defence applications.
The subject’s
product range includes:
Acrylic Range
Camping & Awning Collection
Canvas & Polyester Range
Activities are conducted from premises located at the above listed
trading address.
ADVERSE
A search of of on 11 January 2018 failed to trace any litigation listed
against the subject at that date.
FINANCES
Below is a summary of the subject’s income results for the past two
financial years.
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Bradmill Outdoor Fabrics P/L |
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As at 30 Nov 2016 |
As at 30 Nov 2015 |
Change (%) |
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Revenue |
$5,595,807.00 |
$7,127,980.00 |
-21.50% |
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Profit b/tax |
$513,848.00 |
($540,601.00) |
-195.05% |
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Profit a/tax |
$432,169.00 |
($540,601.00) |
-179.94% |
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Net Profit Margin |
7.72% |
-7.58% |
15.31% |
During fiscal 2016, the subject recorded Net Cashflows from operating
activities totalling $778,066
As at 30 November 2016 the subject recorded total current assets of
$3,811,693. They included cash of $1,426,207, receivables of $865,911 and
Inventories of $1,470,257.
Current liabilities at the same date totalled $1,555,253 and included payables
of $690,868 and borrowings of $536,545.
As at 30 November 2016 the subject recorded Working Capital of
$2,256,440 and a current ratio of 2.45 to 1 indicating a sound liquidity
position.
Net Assets totalled $2,924,148 as at 30 November 2016. At this date, the
subject further recorded a Debt to Equity ratio of 0.53 to 1. Nil intangibles
were recorded at this time.
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Bradmill Outdoor Fabrics P/L |
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As at 30 Nov 2016 |
As at 30 Nov 2015 |
Change (%) |
|
Revenue |
$5,595,807.00 |
$7,127,980.00 |
-21.50% |
|
Profit b/tax |
$513,848.00 |
($540,601.00) |
-195.05% |
|
Profit a/tax |
$432,169.00 |
($540,601.00) |
-179.94% |
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Net Profit Margin |
7.72% |
-7.58% |
15.31% |
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Current Assets |
$3,811,693.00 |
$3,900,850.00 |
-2.29% |
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Non Current Assets |
$667,708.00 |
$782,069.00 |
-14.62% |
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Total Assets |
$4,479,401.00 |
$4,682,919.00 |
-4.35% |
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Current Liabilities |
$1,555,253.00 |
$2,190,940.00 |
-29.01% |
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Non Current Liabilities |
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#DIV/0! |
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Total Liabilities |
$1,555,253.00 |
$2,190,940.00 |
-29.01% |
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Net Assets |
$2,924,148.00 |
$2,491,979.00 |
17.34% |
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Working Capital |
$2,256,440.00 |
$1,709,910.00 |
31.96% |
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Current Ratio |
2.45 |
1.78 |
37.65% |
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Debt to Equity |
0.53 |
0.88 |
-39.51% |
TRADE
SURVEY
Trade payment records from further sources in the past 4 months have
traced the following data for the subject.
Total Owing: $486
Total Past Due: $0
Average Late Payment Days: 0
All Industries Late Payment Days: 8
Within terms: $486
1 – 30 days past due: $0
31 – 60 days past due: $0
61 – 90 days past due: $0
91+ days: $0
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 63.41 |
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1 |
INR 87.17 |
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Euro |
1 |
INR 77.45 |
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AUD |
1 |
INR 50.86 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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VAR |
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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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)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.