|
|
|
MIRA
INFORM REPORT
|
Report No. : |
509690 |
|
Report Date : |
18.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
DELTA MACHINE SRL |
|
|
|
|
Registered Office : |
Pandele Tarusanu 8, 011086
Bucuresti Sector 1 |
|
|
|
|
Country : |
Romania |
|
|
|
|
Financials (as on) : |
31.12.2016 |
|
|
|
|
Date of Incorporation : |
02.04.1993 |
|
|
|
|
Com. Reg. No.: |
J40/9513/1993 |
|
|
|
|
Legal Form : |
Private
Limited Company |
|
|
|
|
Line of Business : |
Agents involved in the sale
of machinery, industrial equipment, ships and aircraft. |
|
|
|
|
No. of Employees : |
9 |
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 (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
|
DELTA
MACHINE SRL |
Telephone |
+40
21 2230345 |
|
Pandele
Tarusanu 8 |
Fax |
+40
21 2230391 |
|
011086
Bucuresti Sector 1 |
E-mail |
deltam@mailbox.ro |
|
Romania |
WEB |
www.deltamachine.ro |
|
Crefo
No. |
180474 |
Registration
No. |
J40/9513/1993 |
|
Tax
No. |
RO
3751029 |
Status |
Active |
Economic
situation
|
Payment
behaviour |
Slow
but Correct |
(31) |
Basic
information
Legal
form
Private
Limited Company
Registration
and changes
established
on 02.04.1993 as Delta Machine Srl Private Limited Company
Owners
and Capital
|
Name / Address /
Nationality |
From |
Share |
|
Palade Adrian (birth date 16/08/1980) BUCURESTI SECTORUL 1, Romania
Romanian |
29/11/2012 |
45,000000 % |
|
Palade Preda Daniel (birth date 31/03/1975) BUCURESTI SECTORUL 6,
Romania Romanian |
18/03/2004 |
45,000000 % |
|
Palade Florentin (birth date 15/10/1947) Romania Romanian |
01/04/1993 |
10,000000 % |
Registered capital
|
Currency |
Value |
|
RON |
33.300 |
Management
|
Name / Address /
Status |
Since |
Position |
|
Palade
Florentin (birth date 15/10/1947) BUCURESTI Romania |
20/07/2006 |
Administrator |
Subsidiaries
|
connections |
|
|
|
|
Through |
Name / Address |
Position |
Share |
|
Palade Adrian |
|||
|
RO
14100239 |
DELTA MACHINE
INTERNATIONAL SRL |
administrator and shareholder |
100,00000000% |
Business activities
|
Main activity
Nace |
|
Agents involved in the sale
of machinery, industrial equipment, ships and aircraft 4614 |
legal
office and working spaces at the above mentioned address
Economic data
Turnover and Employees
|
Date |
Turnover |
Employees |
|
31.12.2016 |
9.868.668 RON |
9 |
|
31.12.2015 |
10.951.569 RON |
8 |
|
31.12.2014 |
13.119.291 RON |
7 |
|
31.12.2013 |
6.110.690 RON |
6 |
|
31.12.2012 |
7.036.856 RON |
7 |
|
31.12.2011 |
15.069.390 RON |
7 |
|
31.12.2010 |
6.777.656 RON |
7 |
|
31.12.2009 |
12.398.594 RON |
7 |
|
31.12.2008 |
5.964.093 RON |
8 |
|
31.12.2007 |
6.429.273 RON |
8 |
|
31.12.2006 |
2.282.128 RON |
7 |
|
31.12.2005 |
929.367 RON |
12 |
|
31.12.2004 |
1.026.724,8 RON |
20 |
|
31.12.2003 |
923.892,4 RON |
23 |
|
31.12.2002 |
1.764.504,7 RON |
35 |
|
31.12.2001 |
1.550.201,1 RON |
35 |
Properties
According to the Balance
Sheet of 31.12.2016 date the company holds real estates with a book value of
604.428,00 RON, but we do not have any other details on the type and location
of these assets.
Supplementary data
Banks
|
Financial Institution |
Branch |
|
Banca Comerciala Romana |
Bucuresti |
The subject
is registered in the Electronic Archive for Secured
Transactions, as having
credits at:
-
Banca Comerciala Romana, Bucuresti These credits are guaranteed with cash-flow.
Main indices
Payment experience
and credit opinion
|
Payment behaviour |
Slow
but correct |
(31) |
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 31.03.2018.
There
are no records related to the subject at the Payment Incidents Bureau (CIP) in
the period 16.05.2011 - 16.05.2018.
There
are no records related to the subject company in our debt collection
department. There are no records related to the subject company at the
Insolvency Proceedings Bulletin.
The
subject company is not registered with legal proceedings opened against it,
according to Court Portal.
Balances
Assets
|
Name |
Ref. |
31/12/2014 RON SHORT |
31/12/2015 RON SHORT |
31/12/2016 RON SHORT |
|
INTANGIBLE FIXED ASSETS |
r1 |
348 |
166 |
0 |
|
TANGIBLE FIXED ASSETS |
r2 |
757.722 |
820.309 |
685.234 |
|
CAPITAL ASSETS |
r3 |
0 |
0 |
0 |
|
FIXED ASSETS - TOTAL |
r4 |
758.070 |
820.475 |
685.234 |
|
INVENTORIES |
r5 |
4.815.665 |
3.804.802 |
5.707.885 |
|
RECEIVABLES |
r6 |
964.238 |
889.228 |
694.839 |
|
SHORT-TERM INVESTMENTS |
r7 |
0 |
0 |
0 |
|
PETTY CASH AND BANK
ACCOUNTS |
r8 |
2.878.760 |
2.492.930 |
1.618.420 |
|
CURRENT ASSETS - TOTAL |
r9 |
8.658.663 |
7.186.960 |
8.021.144 |
|
PREPAID EXPENSES |
r10 |
2.481 |
2.834 |
2.266 |
|
TOTAL ASSETS |
r11 |
9.419.214 |
8.010.269 |
8.708.644 |
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 |
3.505.390 |
1.837.102 |
2.369.347 |
|
NET CURRENT ASSETS/NET
CURRENT DEBTS |
r13 |
5.155.754 |
5.352.692 |
5.654.063 |
|
TOTAL ASSETS MINUS CURRENT
DEBTS |
r14 |
5.913.824 |
6.173.167 |
6.339.297 |
|
DAT.I: AMOUNTS THAT MUST
BE PAID DURING A PERIOD EXCEEDING ONE YEAR |
r15 |
0 |
0 |
0 |
|
TOTAL DEBTS |
r16 |
3.505.390 |
1.837.102 |
2.369.347 |
|
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 |
33.300 |
33.300 |
33.300 |
|
subscribed and paid up
capital |
r22 |
33.300 |
33.300 |
33.300 |
|
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 |
270.447 |
270.447 |
270.447 |
|
RESERVES |
r27 |
2.286.393 |
2.286.393 |
2.286.393 |
|
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 |
2.407.205 |
2.984.398 |
3.240.841 |
|
PROFIT OR LOSS REPORTED
Balance account D |
r32 |
0 |
0 |
0 |
|
PROFIT OR LOSS FINANCIAL
YEAR Balance account C |
r33 |
916.479 |
598.629 |
508.316 |
|
PROFIT OR LOSS FINANCIAL
YEAR Balance account D |
r34 |
0 |
0 |
0 |
|
Profit distribution |
r35 |
0 |
0 |
0 |
|
SHAREHOLDERS' EQUITY -
TOTAL |
r36 |
5.913.824 |
6.173.167 |
6.339.297 |
|
Public patrimony |
r37 |
0 |
0 |
0 |
|
EQUITY-TOTAL |
r38 |
5.913.824 |
6.173.167 |
6.339.297 |
|
TOTAL LIABILITIES |
r39 |
9.419.214 |
8.010.269 |
8.708.644 |
Profit
and loss account
|
Net turnover |
r89 |
13.119.291 |
10.951.569 |
9.868.668 |
|
Own work sold |
r90 |
136.545 |
103.156 |
133.828 |
|
Income from the sale of
goods |
r91 |
12.982.750 |
10.848.410 |
9.734.840 |
|
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 |
54.198 |
1.888 |
1.958 |
|
TOTAL OPERATING INCOME -
TOTAL |
r98 |
13.173.490 |
10.953.460 |
9.870.626 |
|
Expenses on raw materials
and consumables |
r99 |
39.236 |
41.663 |
42.728 |
|
Other expenses for
supplies and materials |
r100 |
23.159 |
25.254 |
28.350 |
|
Other outsourced expenses
(electricity and water) |
r101 |
6.436 |
6.708 |
6.286 |
|
Expenses on goods |
r102 |
10.621.290 |
9.021.952 |
7.784.746 |
|
Expenses on personnel, of
which: |
r103 |
255.597 |
338.069 |
370.564 |
|
Salaries and benefits |
r104 |
205.519 |
275.956 |
304.162 |
|
Insurance and social
security expenses |
r105 |
50.078 |
62.113 |
66.402 |
|
Adjustments of the value
of tangible and intangible fixed assets |
r106 |
56.178 |
103.683 |
137.867 |
|
Expenses |
r107 |
71.823 |
103.683 |
137.867 |
|
Income |
r108 |
15.645 |
0 |
0 |
|
Adjustments of the value
of currentassets |
r109 |
0 |
0 |
0 |
|
Expenses |
r110 |
0 |
0 |
0 |
|
Income |
r111 |
0 |
0 |
0 |
|
Other operating expenses |
r112 |
1.092.070 |
702.062 |
875.298 |
|
Expenses on third party
services |
r113 |
1.040.565 |
659.123 |
843.058 |
|
Expenses on other taxes,
duties and similar charges |
r114 |
47.502 |
42.244 |
21.326 |
|
Expenses on compensations,
donations and assigned assets |
r115 |
4.003 |
695 |
10.914 |
|
Expenses with refinancing
interest rates of leasing entities |
r116 |
0 |
0 |
0 |
|
Adjustments of provisions |
r117 |
0 |
0 |
0 |
|
Expenses |
r118 |
0 |
0 |
0 |
|
income |
r119 |
0 |
0 |
0 |
|
OPERATING EXPENSES - TOTAL |
r120 |
12.093.966 |
10.239.390 |
9.245.839 |
|
- Profit |
r121 |
1.079.523 |
714.066 |
624.787 |
|
- 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 |
7.144 |
3.204 |
1.523 |
|
income obtained from
subsidiaries |
r128 |
0 |
0 |
0 |
|
Other financial income |
r129 |
175.106 |
144.135 |
104.845 |
|
FINANCIAL INCOME - TOTAL |
r130 |
182.250 |
147.339 |
106.368 |
|
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 |
0 |
0 |
0 |
|
of which, expenses in
respect of subsidiaries |
r135 |
0 |
0 |
0 |
|
Other financial expenses |
r136 |
164.970 |
143.373 |
113.220 |
|
FINANCIAL EXPENSES - TOTAL |
r137 |
164.970 |
143.373 |
113.220 |
|
- Profit |
r138 |
17.280 |
3.966 |
0 |
|
- Loss |
r139 |
0 |
0 |
6.852 |
|
- Profit |
r140 |
1.096.803 |
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 |
13.355.739 |
11.100.796 |
9.976.994 |
|
TOTAL EXPENSES |
r147 |
12.258.936 |
10.382.764 |
9.359.059 |
|
- Profit |
r148 |
1.096.803 |
718.032 |
617.935 |
|
- Loss |
r149 |
0 |
0 |
0 |
|
Income tax |
r150 |
180.324 |
119.403 |
109.619 |
|
Other taxes which are not
recorded above |
r151 |
0 |
0 |
0 |
|
- Net profit |
r152 |
916.479 |
598.629 |
508.316 |
|
- Net loss |
r153 |
0 |
0 |
0 |
|
Net result |
r154 |
916.479 |
598.629 |
508.316 |
Additional
information
|
Outstanding payments-total
- TOTAL |
r155 |
398.450 |
210.257 |
85.687 |
|
Accounts payable
outstanding - total, of which: - TOTAL |
r156 |
398.450 |
210.257 |
85.687 |
|
over 30 days - TOTAL |
r157 |
0 |
0 |
0 |
|
over 90 days - TOTAL |
r158 |
342.888 |
0 |
82.050 |
|
over 1 year - TOTAL |
r159 |
55.562 |
210.257 |
3.637 |
|
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 |
7 |
8 |
9 |
Specific tangible fixed
assets
|
Name |
Ref. |
31/12/2014 RON SHORT |
31/12/2015 RON SHORT |
31/12/2016 RON SHORT |
|
Lands |
r176 |
86.305 |
86.305 |
86.305 |
|
Buildings |
r177 |
518.123 |
518.123 |
518.123 |
|
Technical installations
and machines |
r178 |
369.986 |
536.075 |
522.251 |
|
Amortization |
r179 |
N/A |
N/A |
N/A |
Financial Ratios
|
Name |
Ref. |
31/12/2014 |
31/12/2015 |
31/12/2016 |
|
Debt Ratio |
R1 |
0,37 |
0,23 |
0,27 |
|
Quick ratio |
R2 |
1,10 |
1,84 |
0,98 |
|
Current ratio |
R3 |
2,47 |
3,91 |
3,39 |
|
Solvency ratio |
R4 |
0,00 |
0,00 |
0,00 |
|
Return on sales ( ROS ) |
R5 |
0,07 |
0,05 |
0,05 |
|
Return on assets ( ROA ) |
R6 |
0,10 |
0,07 |
0,06 |
|
Return on equity ( ROE ) |
R7 |
0,15 |
0,10 |
0,08 |
|
Operating margin, in (%) |
R8 |
0,08 |
0,07 |
0,06 |
|
Days supply in inventory |
R9 |
133,98 |
126,81 |
211,11 |
|
Days sales in receivables |
R10 |
26,83 |
29,64 |
25,70 |
|
Days purchase in payables |
R11 |
97,52 |
61,23 |
87,63 |
|
SALES TO TOTAL ASSETS |
R12 |
1,39 |
1,37 |
1,13 |
|
OPERATING RESULT/TOTAL
ASSETS |
R13 |
0,11 |
0,09 |
0,07 |
|
CASH RATIO |
R14 |
0,82 |
1,36 |
0,68 |
|
Equity as % of total
assets |
R15 |
62,78 |
77,07 |
72,79 |
|
Fixed assets as % of total
assets |
R16 |
8,05 |
10,24 |
7,87 |
|
Receivables as % of
current assets |
R17 |
11,14 |
12,37 |
8,66 |
|
Net working capital |
R18 |
901,55 |
1427,15 |
1237,35 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 67.71 |
|
|
1 |
INR 91.89 |
|
Euro |
1 |
INR 79.89 |
|
RON |
1 |
INR 17.33 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
NIY |
|
|
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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)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.