|
|
|
MIRA INFORM REPORT
|
Report No. : |
506817 |
|
Report Date : |
04.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
GREEN LIGHT GRUP SRL |
|
|
|
|
Registered Office : |
Cameliei 28, 10854 Bucuresti Sector 1 |
|
|
|
|
Country : |
Romania |
|
|
|
|
Financials (as on) : |
31.12.2016 |
|
|
|
|
Date of Incorporation : |
31.08.2004 |
|
|
|
|
Com. Reg. No.: |
J40/13953/2004 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Computer consultancy activities |
|
|
|
|
No. of Employees : |
4
[2016] |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
B |
|
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) |
|
Romania |
B1 |
B1 |
|
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 |
ROMANIA - ECONOMIC OVERVIEW
Romania, which joined the EU on 1 January 2007, began the transition from communism in 1989 with a largely obsolete industrial base and a pattern of output unsuited to the country's needs. Romania's macroeconomic gains have only recently started to spur creation of a middle class and to address Romania's widespread poverty. Corruption and red tape continue to permeate the business environment.
In the aftermath of the global financial crisis, Romania signed a $26 billion emergency assistance package from the IMF, the EU, and other international lenders, but GDP contracted until 2011. In March 2011, Romania and the IMF/EU/World Bank signed a 24-month precautionary standby agreement, worth $6.6 billion, to promote fiscal discipline, encourage progress on structural reforms, and strengthen financial sector stability; no funds were drawn. In September 2013, Romanian authorities and the IMF/EU agreed to a follow-on standby agreement, worth $5.4 billion, to continue with reforms. This agreement expired in September 2015, and no funds were drawn. Progress on structural reforms has been uneven, and the economy still is vulnerable to external shocks.
Economic growth rebounded in the 2013-17 period, driven by strong industrial exports, excellent agricultural harvests, and, more recently, expansionary fiscal policies in 2016-2017 that nearly quadrupled Bucharest’s annual fiscal deficit, from +0.8% of GDP in 2015 to -3% of GDP in 2016 and an estimated -3.4% in 2017. Industry outperformed other sectors of the economy in 2017. Exports remained an engine of economic growth, led by trade with the EU, which accounts for roughly 70% of Romania trade. Domestic demand was the major driver, due to tax cuts and large wage increases that began last year and are set to continue in 2018.
An aging population, emigration of skilled labor, significant tax evasion, insufficient health care, and an aggressive loosening of the fiscal package compromise Romania’s long-term growth and economic stability and are the economy's top vulnerabilities.
|
Source : CIA |
Company
identification
|
GREEN LIGHT GRUPSRL |
|
|
|
Cameliei 28 |
|
10854 Bucuresti Sector 1 |
|
Romania |
|
Telephone |
+40 730 553301 |
|
|
+40 728 087851 |
|
Tax No. |
RO 16721100 |
|
Registration No. |
J40/13953/2004 |
|
Status |
Active |
Economic
situation
|
Business connection |
Business connections are not denied |
(41) |
|
Payment behavior |
Slow |
(42) |
Basic
information
Legal form
Private Limited Company
Registration and changes
established on 31.08.2004 as GREEN LIGHT GRUP SRL
Private Limited Company
Owners
and Capital
|
Name / Address /
Nationality |
From |
Share |
|
Commitment Capital Corp Canada, Vancouver, Bc, Str.west Georgia, Nr.
1400-1040, Canada |
|
100,000000 % |
Registered
capital
|
Currency |
Value |
|
RON |
500.010 |
Management
|
Name / Address / Status |
Since |
Position |
|
Craciun Elisei (birth date 16/03/1976) BUCURESTI
SECTORUL 6 Romania |
|
Administrator |
Subsidiaries
Connections
|
Through |
Name / Address |
Position |
Share |
|
Craciun Elisei |
|||
|
RO 29835611 |
HOW ITS CALLED SRL |
shareholder |
50,00000000% |
Business
activities
|
Main activity |
Nace |
|
Computer consultancy
activities |
6202 |
Legal office and working spaces at the above mentioned address.
Economic
data
Turnover and Employees
|
Date |
Turnover |
Employees |
|
31.12.2016 |
3.211.818 RON |
4 |
|
31.12.2015 |
4.168.021 RON |
5 |
|
31.12.2014 |
7.442.044 RON |
5 |
|
31.12.2013 |
6.857.021 RON |
7 |
|
31.12.2012 |
5.436.852 RON |
6 |
|
31.12.2011 |
4.749.171 RON |
12 |
|
31.12.2010 |
4.791.042 RON |
7 |
|
31.12.2009 |
5.174.913 RON |
15 |
|
31.12.2008 |
2.511.515 RON |
10 |
|
31.12.2007 |
61.682 RON |
3 |
|
31.12.2006 |
55.536 RON |
2 |
|
31.12.2005 |
204.650 RON |
1 |
Properties
None.
Supplementary
data
Banks
|
Financial Institution |
Branch |
|
Banca Comerciala Intesa Sanpaolo Romania |
Bucuresti |
The subject is registered in the Electronic Archive
for Secured Transactions, as having credits at: - Banca Comerciala Intesa
Sanpaolo Romania, Bucuresti These credits are guaranteed with cash-flow.
Main
indices
Payment experience and credit opinion
|
Business connection |
Business connections are not denied |
(41) |
|
Payment behavior |
Slow |
(42) |
Negative
events
The company has no overdue debts to the State
budget that exceeds the minimum ceiling, according to the information published
by the Ministry of Finance on 31.12.2017.
The company is recorded at the Payment Incidents
Bureau (CIP) with 3 incidents related to promissory note in the period
27.04.2011 - 27.04.2018.The total amount of payment: 39.850,00 RON.
There are no related to the subject company in our
debt collection department.
There are no related to the subject company at the
Insolvency Proceedings Bulletin.
The subject company is registered with legal
proceedings opened against it, according to Court Portal (is registered as
debtor in a few files).
Financials
Balances
Assets
|
Name |
Ref. |
31/12/2014 RON SHORT |
31/12/2015 RON SHORT |
31/12/2016 RON SHORT |
|
INTANGIBLE FIXED ASSETS |
r1 |
51.521 |
3.067 |
460 |
|
TANGIBLE FIXED ASSETS |
r2 |
1.061.017 |
2.358.652 |
2.588.798 |
|
CAPITAL ASSETS |
r3 |
0 |
120.019 |
0 |
|
FIXED ASSETS - TOTAL |
r4 |
1.112.538 |
2.481.738 |
2.589.258 |
|
INVENTORIES |
r5 |
526.140 |
373.500 |
382.449 |
|
RECEIVABLES |
r6 |
2.746.823 |
2.100.125 |
1.227.957 |
|
SHORT-TERM INVESTMENTS |
r7 |
0 |
0 |
0 |
|
PETTY CASH AND BANK ACCOUNTS |
r8 |
380.727 |
281.063 |
668.525 |
|
CURRENT ASSETS - TOTAL |
r9 |
3.653.690 |
2.754.688 |
2.278.931 |
|
PREPAID EXPENSES |
r10 |
32.813 |
80.748 |
222.323 |
|
TOTAL ASSETS |
r11 |
4.799.041 |
5.317.174 |
5.090.512 |
Liabilities
|
Name |
Ref. |
31/12/2014 RON SHORT |
31/12/2015 RON SHORT |
31/12/2016 RON SHORT |
|
DAT.I: AMOUNTS THAT MUST BE PAID DURING A PERIOD
OF MAX. ONE YEAR |
r12 |
2.750.220 |
3.208.028 |
1.763.400 |
|
NET CURRENT ASSETS/NET CURRENT DEBTS |
r13 |
936.283 |
-372.592 |
737.854 |
|
TOTAL ASSETS MINUS CURRENT DEBTS |
r14 |
2.048.821 |
2.109.146 |
3.327.112 |
|
DAT.I: AMOUNTS THAT MUST BE PAID DURING A PERIOD
EXCEEDING ONE YEAR |
r15 |
600.393 |
605.103 |
1.768.357 |
|
TOTAL DEBTS |
r16 |
3.350.613 |
N/A |
3.531.757 |
|
PROVISIONS |
r17 |
0 |
0 |
0 |
|
DEFERRED INCOME, OF WHICH: |
r18 |
0 |
0 |
0 |
|
- grants related to investments |
r19 |
0 |
0 |
0 |
|
deferred income |
r20 |
0 |
0 |
0 |
|
CAPITAL, of which: |
r21 |
500.000 |
500.000 |
500.000 |
|
subscribed and paid up capital |
r22 |
500.000 |
500.000 |
500.000 |
|
unpaid subscribed capital |
r23 |
0 |
0 |
0 |
|
assets and liabilities (public sector companies) |
r24 |
0 |
0 |
0 |
|
CAPITAL PREMIUM |
r25 |
0 |
0 |
0 |
|
REVALUATION RESERVES |
r26 |
0 |
0 |
0 |
|
RESERVES |
r27 |
100.000 |
100.000 |
100.000 |
|
Own shares |
r28 |
0 |
0 |
0 |
|
Earnings associated to own capital instruments |
r29 |
0 |
0 |
0 |
|
Losses associated to own capital instruments |
r30 |
0 |
0 |
0 |
|
PROFIT OR LOSS REPORTED Balance account C |
r31 |
832.861 |
848.428 |
904.043 |
|
PROFIT OR LOSS REPORTED Balance account D |
r32 |
0 |
0 |
0 |
|
PROFIT OR LOSS FINANCIAL YEAR Balance account C |
r33 |
24.795 |
55.615 |
54.712 |
|
PROFIT OR LOSS FINANCIAL YEAR Balance account D |
r34 |
0 |
0 |
0 |
|
Profit distribution |
r35 |
9.228 |
0 |
0 |
|
SHAREHOLDERS' EQUITY - TOTAL |
r36 |
1.448.428 |
1.504.043 |
1.558.755 |
|
Public patrimony |
r37 |
0 |
0 |
0 |
|
EQUITY-TOTAL |
r38 |
1.448.428 |
1.504.043 |
1.558.755 |
|
TOTAL LIABILITIES |
r39 |
4.799.041 |
5.317.174 |
5.090.512 |
Profit and Loss Account
|
Name |
Ref. |
31/12/2014 RON SHORT |
31/12/2015 RON SHORT |
31/12/2016 RON SHORT |
|
Net
turnover |
r89 |
7.442.044 |
4.168.021 |
3.211.818 |
|
Own work
sold |
r90 |
7.442.044 |
4.168.021 |
3.211.818 |
|
Income
from the sale of goods |
r91 |
0 |
0 |
0 |
|
Income
from interests made by leasing |
r92 |
0 |
0 |
0 |
|
Income
from grants related to income corresponding to net turnover |
r93 |
0 |
0 |
0 |
|
Balance account C |
r94 |
0 |
0 |
0 |
|
Balance
account D |
r95 |
0 |
0 |
0 |
|
Production
made by the entity for its own purposes and capitalized |
r96 |
0 |
0 |
0 |
|
Other
operating income |
r97 |
67.975 |
4.002 |
61.222 |
|
TOTAL OPERATING
INCOME - TOTAL |
r98 |
7.510.019 |
4.172.023 |
3.273.040 |
|
Expenses
on raw materials and consumables |
r99 |
94.526 |
106.348 |
41.976 |
|
Other
expenses for supplies and materials |
r100 |
342.029 |
343.690 |
89.589 |
|
Other outsourced
expenses (electricity and water) |
r101 |
18.260 |
23.871 |
36.238 |
|
Expenses
on goods |
r102 |
0 |
0 |
0 |
|
Expenses
on personnel, of which: |
r103 |
221.007 |
158.193 |
250.281 |
|
Salaries
and benefits |
r104 |
174.549 |
128.590 |
203.865 |
|
Insurance
and social security expenses |
r105 |
46.458 |
29.603 |
46.416 |
|
Adjustments
of the value of tangible and intangible fixed assets |
r106 |
386.694 |
304.609 |
282.435 |
|
Expenses |
r107 |
386.694 |
304.609 |
282.435 |
|
Income |
r108 |
0 |
0 |
0 |
|
Adjustments
of the value of current assets |
r109 |
44.387 |
0 |
0 |
|
Expenses |
r110 |
44.387 |
0 |
0 |
|
Income |
r111 |
0 |
0 |
0 |
|
Other
operating expenses |
r112 |
6.148.847 |
3.101.525 |
2.371.955 |
|
Expenses
on third party services |
r113 |
5.912.464 |
3.042.726 |
2.335.090 |
|
Expenses
on other taxes, duties and similar charges |
r114 |
43.100 |
18.746 |
10.599 |
|
Expenses
on compensations, donations and assigned assets |
r115 |
193.283 |
37.515 |
26.266 |
|
Expenses
with refinancing interest rates of leasing entities |
r116 |
0 |
0 |
0 |
|
Adjustments
of provisions |
r117 |
0 |
-12.200 |
0 |
|
Expenses |
r118 |
0 |
0 |
0 |
|
income |
r119 |
0 |
12.200 |
0 |
|
OPERATING
EXPENSES - TOTAL |
r120 |
7.255.239 |
3.942.703 |
3.072.474 |
|
- Profit |
r121 |
254.780 |
229.320 |
200.566 |
|
- Loss |
r122 |
0 |
0 |
0 |
|
Income
from participating interests, of which: |
r123 |
0 |
0 |
0 |
|
income
obtained from subsidiaries |
r124 |
0 |
0 |
0 |
|
Income from
other financial investments and loans which are part of intangible fixed
assets, of which: |
r125 |
0 |
N/A |
N/A |
|
income
obtained from subsidiaries |
r126 |
0 |
N/A |
N/A |
|
Income
from interest rates, of which: |
r127 |
77 |
94 |
3 |
|
income obtained
from subsidiaries |
r128 |
0 |
0 |
0 |
|
Other
financial income |
r129 |
18.052 |
8.750 |
916 |
|
FINANCIAL
INCOME - TOTAL |
r130 |
18.129 |
8.844 |
919 |
|
Value
adjustments in respect of capital assets and investments as current assets |
r131 |
0 |
0 |
0 |
|
Expenses |
r132 |
0 |
0 |
0 |
|
income |
r133 |
0 |
0 |
0 |
|
Interest
expenses |
r134 |
101.339 |
116.194 |
109.615 |
|
of
which, expenses in respect of subsidiaries |
r135 |
0 |
0 |
0 |
|
Other
financial expenses |
r136 |
58.221 |
24.770 |
4.763 |
|
FINANCIAL
EXPENSES - TOTAL |
r137 |
159.560 |
140.964 |
114.378 |
|
- Profit |
r138 |
0 |
0 |
0 |
|
- Loss |
r139 |
141.431 |
132.120 |
113.459 |
|
- Profit |
r140 |
113.349 |
N/A |
N/A |
|
- Loss |
r141 |
0 |
N/A |
N/A |
|
Extraordinary
income |
r142 |
0 |
N/A |
N/A |
|
Extraordinary
expenses |
r143 |
0 |
N/A |
N/A |
|
- Profit |
r144 |
0 |
N/A |
N/A |
|
- Loss |
r145 |
0 |
N/A |
N/A |
|
TOTAL
INCOME |
r146 |
7.528.148 |
4.180.867 |
3.273.959 |
|
TOTAL
EXPENSES |
r147 |
7.414.799 |
4.083.667 |
3.186.852 |
|
- Profit |
r148 |
113.349 |
97.200 |
87.107 |
|
- Loss |
r149 |
0 |
0 |
0 |
|
Income
tax |
r150 |
88.554 |
41.585 |
32.395 |
|
Other
taxes which are not recorded above |
r151 |
0 |
0 |
0 |
|
- Net
profit |
r152 |
24.795 |
55.615 |
54.712 |
|
- Net
loss |
r153 |
0 |
0 |
0 |
|
Net
result |
r154 |
24.795 |
55.615 |
54.712 |
Additional information
|
Name |
Ref. |
31/12/2014 RON SHORT |
31/12/2015 RON SHORT |
31/12/2016 RON SHORT |
|
Outstanding payments-total - TOTAL |
r155 |
0 |
0 |
0 |
|
Accounts payable outstanding - total, of which: - TOTAL |
r156 |
0 |
0 |
0 |
|
over 30 days - TOTAL |
r157 |
0 |
0 |
0 |
|
over 90 days - TOTAL |
r158 |
0 |
0 |
0 |
|
over 1 year - TOTAL |
r159 |
0 |
0 |
0 |
|
Outstanding payments to social security- total,
of which: - TOTAL |
r160 |
0 |
0 |
0 |
|
contributions to social security payable by
employers, employees and other assimilated entities - TOTAL |
r161 |
0 |
0 |
0 |
|
contributions to the social health insurance fund
- TOTAL |
r162 |
0 |
0 |
0 |
|
contribution to the additional state pension
system - TOTAL |
r163 |
0 |
0 |
0 |
|
contributions to the unemployment insurance fund - TOTAL |
r164 |
0 |
0 |
0 |
|
other social liabilities - TOTAL |
r165 |
0 |
0 |
0 |
|
Payments due to special funds and other funds - TOTAL |
r166 |
0 |
0 |
0 |
|
Payments due to other creditors - TOTAL |
r167 |
0 |
0 |
0 |
|
Taxes and fees unpaid to the public budget on the
date due - TOTAL |
r168 |
0 |
0 |
0 |
|
Taxes and fees unpaid to the local budget on the
date due - TOTAL |
r169 |
0 |
0 |
0 |
|
Bank credits which were not reimbursed on the
date due - total, of which: - TOTAL |
r170 |
0 |
0 |
0 |
|
back payments after 30 days - TOTAL |
r171 |
0 |
0 |
0 |
|
back payments after 90 days - TOTAL |
r172 |
0 |
0 |
0 |
|
back payments after 1 year - TOTAL |
r173 |
0 |
0 |
0 |
|
Past due interest - TOTAL |
r174 |
0 |
0 |
0 |
|
Average number of employees |
r175 |
5 |
5 |
4 |
Specific tangible fixed assets
|
Name |
Ref. |
31/12/2014 RON SHORT |
31/12/2015 RON SHORT |
31/12/2016 RON SHORT |
|
Lands |
r176 |
0 |
0 |
0 |
|
Buildings |
r177 |
0 |
0 |
0 |
|
Technical installations and machines |
r178 |
1.463.095 |
1.637.008 |
1.859.656 |
|
Amortization |
r179 |
N/A |
N/A |
N/A |
Financial Ratios
|
Name |
Ref. |
31/12/2014 |
31/12/2015 |
31/12/2016 |
|
Debt Ratio |
R1 |
0,70 |
|
0,69 |
|
Quick ratio |
R2 |
1,14 |
0,74 |
1,08 |
|
Current ratio |
R3 |
1,33 |
0,86 |
1,29 |
|
Solvency ratio |
R4 |
0,41 |
0,40 |
1,13 |
|
Return on sales ( ROS ) |
R5 |
0,00 |
0,01 |
0,02 |
|
Return on assets ( ROA ) |
R6 |
0,01 |
0,01 |
0,01 |
|
Return on equity ( ROE ) |
R7 |
0,02 |
0,04 |
0,04 |
|
Operating margin, in (%) |
R8 |
0,03 |
0,06 |
0,06 |
|
Days supply in inventory |
R9 |
25,81 |
32,71 |
43,46 |
|
Days sales in receivables |
R10 |
134,72 |
183,91 |
139,55 |
|
Days purchase in payables |
R11 |
134,89 |
280,93 |
200,40 |
|
SALES TO TOTAL ASSETS |
R12 |
1,55 |
0,78 |
0,63 |
|
OPERATING RESULT/TOTAL ASSETS |
R13 |
0,05 |
0,04 |
0,04 |
|
CASH RATIO |
R14 |
0,14 |
0,09 |
0,38 |
|
Equity as % of total assets |
R15 |
30,18 |
28,29 |
30,62 |
|
Fixed assets as % of total assets |
R16 |
23,18 |
46,67 |
50,86 |
|
Receivables as % of current assets |
R17 |
75,18 |
76,24 |
53,88 |
|
Net working capital |
R18 |
485,45 |
313,90 |
470,85 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 66.61 |
|
|
1 |
INR 90.60 |
|
Euro |
1 |
INR 79.86 |
|
RON |
1 |
INR 17.14 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
SYL |
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.