MIRA INFORM REPORT

 

 

Report Date :

30.08.2011

 

IDENTIFICATION DETAILS

 

Name :

INDUSTRIAL WEAR SRL

 

 

Registered Office :

Via Ettore Benini 22 Forli', 47100

 

 

Country :

Italy

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

07.04.2003

 

 

Com. Reg. No.:

03353860400

 

 

Legal Form :

Private Subsidiary

 

 

Line of Business :

Wholesale of clothing and footwear

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

Payment Behaviour :

No Complaints

 

 

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 – March 31st, 2011

 

Country Name

Previous Rating

(31.12.2010)

Current Rating

(31.03.2011)

Italy

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name and address

 

Top of Form

Bottom of Form

Industrial Wear SRL                  

 

 

Via Ettore Benini 22

 

 

Forli', 47100

Italy

 

Tel:

+39 0543 481558

Fax:

+39 0543 483675

 

Suggest Company URL

 

Employees:

23

Company Type:

Private Subsidiary

Corporate Family:

2 Companies

Ultimate Parent:

L'ITALIANO S.R.L.

 

 

Incorporation Date:

07-Apr-2003

Financials in:

USD mill

 

 

Fiscal Year End:

31-Dec-2010

Reporting Currency:

Euro

Annual Sales:

27.2

Total Assets:

24.0

 

Business Description       

 

 

Industrial Wear SRL is primarily engaged in wholesale of adults' fur and leather clothing; wholesale of children's and infants' clothing; wholesale of footwear; and wholesale of clothing not elsewhere classified.

 

Industry

             

 

Industry

Apparel and Accessories

ANZSIC 2006:

371 - Textile, Clothing and Footwear Wholesaling

NACE 2002:

5142 - Wholesale of clothing and footwear

NAICS 2002:

4243 - Apparel, Piece Goods, and Notions Merchant Wholesalers

UK SIC 2003:

5142 - Wholesale of clothing and footwear

US SIC 1987:

5136 - Men's and Boy's Clothing and Furnishings

 

Key Executives

 

 

Name

Title

Andrea Valentini

President

Emanuele Valentini

Vice president

 

1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7550783

2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7454064

 

 


Corporate Overview

 

Location
Via Ettore Benini 22
Forli', 47100
Italy

 

Tel:

+39 0543 481558

Fax:

+39 0543 483675

 

Suggest Company URL

Sales EUR(mil):

20.5

Assets EUR(mil):

17.9

Employees:

23

Fiscal Year End:

31-Dec-2010

 

Industry:

Apparel and Accessories

Incorporation Date:

07-Apr-2003

Company Type:

Private Subsidiary

Quoted Status:

Not Quoted

Registered No.(ITA):

03353860400

 

President:

Andrea Valentini

Contents

·         Industry Codes

·         Business Description

·         Financial Data

Industry Codes

 

ANZSIC 2006 Codes:

371

-

Textile, Clothing and Footwear Wholesaling

 

NACE 2002 Codes:

5142

-

Wholesale of clothing and footwear

 

NAICS 2002 Codes:

4243

-

Apparel, Piece Goods, and Notions Merchant Wholesalers

 

US SIC 1987:

5136

-

Men's and Boy's Clothing and Furnishings

 

UK SIC 2003:

5142

-

Wholesale of clothing and footwear

 

 

Business Description

Industrial Wear SRL is primarily engaged in wholesale of adults' fur and leather clothing; wholesale of children's and infants' clothing; wholesale of footwear; and wholesale of clothing not elsewhere classified.

 

 

 

 

 

 

 

 

Financial Data

 

Financials in:

EUR(mil)

 

Revenue:

20.5

Assets:

17.9

Current Assets:

17.0

 

Total Liabilities:

17.9

 

Net Worth:

2.8

 

 

 

Date of Financial Data:

31-Dec-2010

 

1 Year Growth

54.9%

NA

 

 

Corporate Structure News

 

Industrial Wear SRL
Total Corporate Family Members: 2

 

 

 

 

Company Name

Company Type

Location

Country

Industry

Sales
(USD mil)

Employees

L'ITALIANO S.R.L.

Parent

 

 

 

 

 

Industrial Wear SRL

Subsidiary

Forli', Null

Italy

Apparel and Accessories

27.2

23

 

 

 

 

Executives Report

 

 

Executives

 

Name

Title

Function

Andrea Valentini

 

President

President

Emanuele Valentini

 

Vice president

Other

 

 

 

Annual Profit & Loss

 

 

 

 

 

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

Period Length

12 Months

12 Months

12 Months

Filed Currency

EUR

EUR

EUR

Exchange Rate (Period Average)

0.755078

0.719047

0.683679

Consolidated

No

No

No

 

 

 

 

Total income

27.6

21.4

20.7

Net sales

27.2

20.9

20.5

Other operating income

0.4

0.4

0.3

Raw materials and consumables employed

17.7

14.3

14.2

Other expenses

4.2

3.9

3.3

Total payroll costs

1.4

1.3

1.2

Fixed asset depreciation and amortisation

0.2

0.2

0.1

Other operating costs

0.1

0.0

0.1

Net operating income

4.0

1.6

1.8

Total financial income

-

0.5

-

Total expenses

0.5

0.7

0.9

Profit before tax

3.1

1.4

0.7

Extraordinary result

0.0

0.1

-

Profit after extraordinary items and before tax

3.1

1.4

0.7

Total taxation

1.0

0.6

0.3

Net profit

2.1

0.8

0.3

 

 

 

Annual Balance Sheet

Financials in: USD (mil)

 

 

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

Filed Currency

EUR

EUR

EUR

Exchange Rate

0.745406

0.696986

0.719399

Consolidated

No

No

No

 

 

 

 

Total stockholders equity

3.8

2.1

1.2

Provision for risks

0.2

0.1

0.1

Provision for pensions

0.2

0.1

0.1

Mortgages and loans

2.9

2.5

2.9

Trade creditors

5.4

5.6

2.3

Bank loans and overdrafts

10.5

9.8

11.4

Other current liabilities

1.1

1.2

0.4

Accruals and deferred income

0.0

0.0

0.1

Total current liabilities

17.0

16.6

14.2

Total liabilities (including net worth)

24.0

21.4

18.5

Intangibles

0.1

0.1

0.0

Total tangible fixed assets

0.6

0.6

0.6

Total financial assets

0.5

0.3

0.3

Total non-current assets

1.2

1.0

0.9

Finished goods

12.9

11.9

11.0

Net stocks and work in progress

12.9

11.9

11.0

Trade debtors

8.8

6.6

6.2

Other receivables

0.5

0.9

0.3

Cash and liquid assets

0.6

1.0

0.0

Accruals

0.0

0.0

0.1

Total current assets

22.8

20.4

17.6

Total assets

24.0

21.4

18.5

 

 

 

 

 

Annual Ratios

Financials in: USD (mil)

 

 

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

Period Length

12 Months

12 Months

12 Months

Filed Currency

EUR

EUR

EUR

Exchange Rate

0.745406

0.696986

0.719399

Consolidated

No

No

No

 

 

 

 

Sales per employee

1.73

1.32

1.50

Profit per employee

0.20

0.09

0.05

Average wage per employee

0.09

0.08

0.09

Net worth

3.8

2.1

1.2

Number of employees

23

22

18

 

 

Bottom of Form

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.87

UK Pound

1

Rs.75.14

Euro

1

Rs.66.68

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

--

NB

                                       New Business

 

--

 

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 and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                 Payment record (10%)

Credit history (10%)                    Market trend (10%)                                Operational size (10%)

 

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.