|
|
|
MIRA INFORM REPORT
|
Report No. : |
517076 |
|
Report Date : |
26.06.2018 |
IDENTIFICATION DETAILS
|
Name : |
TECUMSEH EUROPE SALES & LOGISTICS |
|
|
|
|
Registered Office : |
2 Avenue Blaise Pascal, 38090 Vaulx Milieu |
|
|
|
|
Country : |
France |
|
|
|
|
Financials (as on) : |
31.12.2016 |
|
|
|
|
Date of Incorporation : |
16.12.2014 |
|
|
|
|
Com. Reg. No.: |
SIRET 808 452 544 00014 RCS Vienne B 808 452 544 |
|
|
|
|
Legal Form : |
Simplified Joint Stock Company with Single Associate |
|
|
|
|
Line of Business : |
Production and Sale of
Hermetic Compressors and Condensing Units. |
|
|
|
|
No. of Employees : |
95 [2017] |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
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 (31.12.2017) |
Current Rating (01.04.2018) |
|
France |
A1 |
A1 |
|
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 |
FRANCE - ECONOMIC OVERVIEW
The French economy is diversified across all sectors. The government has partially or fully privatized many large companies, including Air France, France Telecom, Renault, and Thales. However, the government maintains a strong presence in some sectors, particularly power, public transport, and defense industries. France is the most visited country in the world with 83 million foreign tourists in 2016, including 530,000 visitors for the 2016 Euro Cup. France's leaders remain committed to a capitalism in which they maintain social equity by means of laws, tax policies, and social spending that mitigate economic inequality.
France's real GDP grew by 1.6% in 2017, up from 1.2% the year before. The unemployment rate (including overseas territories) increased from 7.8% in 2008 to 10.2% in 2015, before falling to 9.5% in 2017. Youth unemployment in metropolitan France decreased from 24.6% in the fourth quarter of 2014 to 24% in the fourth quarter of 2016.
France’s public finances have historically been strained by high spending and low growth. Despite measures to restore public finances, the budget deficit rose from 3.3% of GDP in 2008 to 7.5% of GDP in 2009. In 2017, the budget deficit improved to 2.9% of GDP, bringing it in compliance with the EU-mandated 3% deficit target. Meanwhile, France's public debt rose from 89.5% of GDP in 2012 to 96.9% in 2017.
Since entering office in May 2017, President Emmanuel MACRON launched a series of economic reforms to improve competitiveness and boost economic growth. President MACRON campaigned on reforming France’s labor code and in late 2017 implemented a range of reforms to increase flexibility in the labor market by making it easier for firms to hire and fire and simplifying negotiations between employers and employees. In addition to labor reforms, President MACRON’s proposed 2018 budget cuts public spending, taxes, and social security contributions to spur private investment and increase purchasing power.
|
Source
: CIA |
Summary
|
Company name |
TECUMSEH EUROPE SALES & LOGISTICS |
|
Status |
Active |
Contact information
|
Company name |
TECUMSEH EUROPE SALES & LOGISTICS |
|
Trading name |
TECUMSEH |
|
Registered address |
2 AVENUE BLAISE PASCAL |
|
Correspondence address |
2 AVENUE BLAISE PASCAL |
|
Telephone number |
+33(0)474822400 |
|
Email address |
tecsup@tecumseh.com |
|
Website |
Registration
|
Registration number |
SIRET 808 452 544 00014 RCS Vienne B 808 452 544 |
|
VAT-number |
FR05808452544 |
|
Status |
Active |
|
Establishment date |
16-12-2014 |
|
Legal form |
Simplified Joint Stock Company with Single Associate |
|
Subscribed share capital |
EUR 24.708.086 |
Activities
|
Production and sale of
hermetic compressors and condensing units. |
Relations
|
Shareholders |
TECUMSEH EUROPE SA, France |
|
Structure |
Subsidiaries/participations: None on record |
|
Branches |
No branches on record |
Management
|
M. BOUILLOT
FRANÇOIS ERIC, born 03-11-1967 |
|
|
Postition |
President |
Employees
|
Year |
2017 |
|
|
95 |
Bank
|
Unknown |
Payments
|
Remarks
|
Auditor: GRANT THORNTON |
Finances
ACTIVE ACCOUNT
|
31/12/2016 |
VARIATION |
31/12/2015 |
SECTOR MEDIAN 2016 |
||
|
Capital not called |
0 |
0% |
0 |
0 |
0% |
|
Total fixed assets |
7,364,205 |
-18.4% |
9,026,303 |
536,353 |
1273.0% |
|
- Intangible assets |
819 |
-99.3% |
117,408 |
34,728 |
-97.6% |
|
- Tangible assets |
1,077,489 |
-26.4% |
1,463,968 |
293,378 |
267.3% |
|
- Financial assets |
6,286,289 |
-15.6% |
7,445,322 |
13,528 |
46368.7% |
|
Net current assets |
61,696,643 |
-7.2% |
66,510,464 |
2,998,999 |
1957.2% |
|
- Stocks |
14,814,208 |
-15.8% |
17,586,908 |
667,510 |
2119.3% |
|
- Advanced payments |
43,860 |
-80.9% |
229,869 |
0 |
0% |
|
- Receivables |
41,250,054 |
-0.8% |
41,577,563 |
1,261,247 |
3170.6% |
|
- Securities and cash |
5,588,520 |
-21.5% |
7,116,125 |
219,301 |
2448.3% |
|
- Prepaid expenses |
- |
- |
- |
560 |
- |
|
Accounts of
regularization |
189,221 |
48.5% |
127,433 |
0 |
0% |
|
Total Assets |
69,250,069 |
-8.5% |
75,664,200 |
3,335,561 |
1976.1% |
PASSIVE ACCOUNT
|
31/12/2016 |
VARIATION |
31/12/2015 |
SECTOR MEDIAN 2016 |
||
|
Shareholders'
equity |
28,816,198 |
0.2% |
28,761,577 |
1,276,299 |
2157.8% |
|
Share capital |
24,708,086 |
0% |
24,708,086 |
400,100 |
6075.5% |
|
Other capital
resources |
0 |
0% |
0 |
0 |
0% |
|
Risk Provisions |
3,661,467 |
-6.7% |
3,925,854 |
18,970 |
19201.4% |
|
Liabilities |
36,044,056 |
-15.6% |
42,705,167 |
1,977,416 |
1722.8% |
|
- Financial liabilities |
0 |
0% |
1,371,833 |
100,383 |
0% |
|
- Advanced payments received |
383,775 |
0% |
0 |
0 |
0% |
|
- Trade account payables |
28,459,664 |
-17.6% |
34,543,524 |
641,193 |
4338.5% |
|
- Tax and social liabilities |
2,051,178 |
-23.2% |
2,669,394 |
340,017 |
503.3% |
|
- Other debts and fixed assets liabilities |
5,358,145 |
27.5% |
4,203,198 |
25,193 |
21168.4% |
|
Account
regularization |
519,641 |
175.2% |
188,821 |
0 |
0% |
|
Total
liabilities |
69,250,069 |
-8.5% |
75,664,200 |
3,335,561 |
1976.1% |
RESULTS
|
31/12/2016 |
VARIATION |
31/12/2015 |
SECTOR MEDIAN 2016 |
||
|
Sales of Goods |
173,220,197 |
9.3% |
158,502,788 |
4,536,315 |
3718.5% |
|
Net turnover |
172,915,335 |
10.2% |
156,949,134 |
4,526,184 |
3720.3% |
|
- of which net export turnover |
118,911,856 |
0% |
0 |
405,761 |
29205.9% |
|
Operating charges |
168,571,895 |
10.7% |
152,320,813 |
4,642,520 |
3531.0% |
|
Operating
profit/loss |
4,648,302 |
-24.8% |
6,181,974 |
60,258 |
7614.0% |
|
Financial income |
2,218,110 |
8.8% |
2,038,302 |
2,868 |
77240.0% |
|
Financial charges |
2,569,060 |
-21.7% |
3,279,825 |
13,238 |
19306.7% |
|
Financial profit/loss |
-350,950 |
71.7% |
-1,241,524 |
-2,069 |
-16862.3% |
|
Pretax net
operating income |
4,297,352 |
-13.0% |
4,940,451 |
70,307 |
6012.3% |
|
Extraordinary income |
420,803 |
983.1% |
38,850 |
13,520 |
3012.4% |
|
Extraordinary charges |
172,089 |
9.0% |
157,901 |
20,813 |
726.8% |
|
Extraordinary
profit/loss |
248,714 |
308.9% |
-119,051 |
0 |
0% |
|
Net result |
3,905,437 |
-3.7% |
4,053,491 |
66,951 |
5733.3% |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 68.15 |
|
|
1 |
INR 90.27 |
|
Euro |
1 |
INR 79.35 |
|
Euro |
1 |
INR 79.75 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
NIY |
|
|
|
|
Report Prepared
by : |
TPT |
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)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.