MIRA
INFORM REPORT
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Report Date : |
23.07.2011 |
IDENTIFICATION DETAILS
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Name : |
DAMILANO GROUP SRL |
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Registered Office : |
Via Fratelli Ceirano 19 21 Madonna Dell'olmo Area 90 Cuneo, 12100 |
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Country : |
Italy |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
26.01.1989 |
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Com. Reg. No.: |
02097590042 |
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Legal Form : |
Private Independent |
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Line of Business : |
Wholesale of wood, construction materials and sanitary equipment |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually 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 – March 31st, 2011
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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Italy |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company name and address
Damilano Group SRL
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Business Description |
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Damilano Group SRL is primarily engaged in wholesale of paint and
varnish; wholesale of wood in the rough; wholesale of products of primary
processing of wood; wholesale of construction materials (sand, gravel);
wholesale of flat glass; and wholesale of sanitary equipment (baths,
washbasins, toilets and other sanitary porcelain). |
Industry
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Industry |
Construction - Raw Materials |
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ANZSIC 2006: |
333 - Timber and Hardware Goods
Wholesaling |
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NACE 2002: |
5153 - Wholesale of wood, construction
materials and sanitary equipment |
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NAICS 2002: |
4233 - Lumber and Other Construction
Materials Merchant Wholesalers |
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UK SIC 2003: |
5153 - Wholesale of wood, construction
materials and sanitary equipment |
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US SIC 1987: |
5039 - Construction Materials, Not
Elsewhere Classified |
Key
Executives
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1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7190468
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.6969855
Corporate Overview
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Executives Report
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Annual Profit & Loss
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31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
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Period Length |
12 Months |
12 Months |
12 Months |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate
(Period Average) |
0.719047 |
0.683679 |
0.730637 |
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Consolidated |
No |
No |
No |
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Total income |
19.6 |
33.7 |
19.6 |
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Net sales |
20.4 |
33.4 |
19.3 |
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Other operating
income |
0.1 |
0.1 |
0.1 |
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Raw materials
and consumables employed |
9.3 |
22.9 |
11.3 |
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Other expenses |
6.0 |
5.8 |
4.1 |
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Total payroll
costs |
2.9 |
3.3 |
2.8 |
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Fixed asset
depreciation and amortisation |
0.6 |
0.7 |
0.5 |
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Other operating
costs |
0.1 |
0.1 |
0.0 |
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Net operating
income |
0.8 |
1.0 |
0.8 |
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Total financial
income |
- |
0.0 |
0.0 |
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Total expenses |
0.1 |
0.3 |
0.2 |
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Profit before
tax |
0.7 |
0.7 |
0.6 |
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Extraordinary
result |
0.1 |
0.0 |
0.1 |
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Profit after
extraordinary items and before tax |
0.8 |
0.7 |
0.7 |
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Total taxation |
0.3 |
0.3 |
0.4 |
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Net profit |
0.4 |
0.4 |
0.3 |
Annual Balance Sheet
Financials in: USD (mil)
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31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate |
0.696986 |
0.719399 |
0.683971 |
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Consolidated |
No |
No |
No |
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Total
stockholders equity |
2.9 |
2.4 |
2.1 |
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Provision for
risks |
0.0 |
0.0 |
0.1 |
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Provision for
pensions |
0.4 |
0.4 |
0.5 |
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Other long-term
liabilities |
0.0 |
0.0 |
0.0 |
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Trade creditors |
4.0 |
6.2 |
5.5 |
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Bank loans and
overdrafts |
3.0 |
4.9 |
4.1 |
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Other current
liabilities |
1.7 |
2.1 |
1.6 |
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Accruals and
deferred income |
0.4 |
0.3 |
0.3 |
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Total current
liabilities |
9.2 |
13.6 |
11.6 |
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Total
liabilities (including net worth) |
12.6 |
16.5 |
14.2 |
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Intangibles |
1.0 |
1.0 |
1.2 |
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Total tangible
fixed assets |
0.7 |
1.0 |
1.2 |
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Total financial
assets |
0.0 |
0.0 |
0.0 |
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Receivables due
after 1 year |
0.0 |
0.0 |
0.0 |
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Total
non-current assets |
1.8 |
2.1 |
2.4 |
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Finished goods |
0.4 |
0.5 |
0.4 |
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Net stocks and
work in progress |
1.1 |
3.6 |
3.0 |
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Trade debtors |
8.1 |
9.5 |
7.7 |
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Other
receivables |
1.0 |
1.2 |
0.8 |
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Cash and liquid
assets |
0.4 |
0.1 |
0.3 |
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Accruals |
0.1 |
0.1 |
0.1 |
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Total current
assets |
10.8 |
14.4 |
11.9 |
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Total assets |
12.6 |
16.5 |
14.2 |
Annual Ratios
Financials in: USD (mil)
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31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
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Period Length |
12 Months |
12 Months |
12 Months |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate |
0.696986 |
0.719399 |
0.683971 |
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Consolidated |
No |
No |
No |
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Sales per
employee |
0.44 |
0.70 |
0.46 |
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Profit per employee |
0.02 |
0.02 |
0.02 |
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Average wage per
employee |
0.06 |
0.07 |
0.07 |
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Net worth |
2.9 |
2.4 |
2.1 |
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Number of
employees |
65 |
63 |
60 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.37 |
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1 |
Rs.72.34 |
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Euro |
1 |
Rs.63.87 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.