MIRA
INFORM REPORT
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Report Date : |
05.11.2011 |
IDENTIFICATION DETAILS
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Name : |
INOX MARKET SERVICE SRL |
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Registered Office : |
Via Lago Di Molveno 33 Zona Industriale
Schio, 36015 |
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Country : |
Italy |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
20.02.1989 |
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Com. Reg. No.: |
02113450247 |
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Legal Form : |
Private Parent |
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Line of Business : |
Wholesale of other household goods |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
No Complaints |
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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 – September 30, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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
Inox Market Service SRL
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Business
Description
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Inox Market Service SRL is primarily engaged in wholesale of
furniture; wholesale of jewellery; wholesale of musical instruments;
wholesale of photographic goods; wholesale of toys and games; wholesale of travel
and fancy goods; and wholesale of other household goods not elsewhere
classified. |
Industry
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Industry |
Miscellaneous Capital Goods |
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ANZSIC 2006: |
3739 - Other Goods Wholesaling Not
Elsewhere Classified |
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NACE 2002: |
5147 - Wholesale of other household goods |
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NAICS 2002: |
4232 - Furniture and Home Furnishing
Merchant Wholesalers |
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UK SIC 2003: |
5147 - Wholesale of other household goods |
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US SIC 1987: |
5099 - Durable Goods, 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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Corporate Structure News
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Inox Market
Service SRL |
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
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Parent |
Schio, Vicenza |
Italy |
Miscellaneous Capital Goods |
107.0 |
24 |
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Subsidiary |
Padova, Padova (Padua) |
Italy |
Miscellaneous Capital Goods |
3.1 |
3 |
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 |
107.7 |
151.0 |
172.2 |
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Net sales |
107.0 |
148.4 |
170.9 |
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Other operating income |
0.6 |
2.6 |
1.2 |
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Raw materials and consumables employed |
88.4 |
126.6 |
142.0 |
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Other expenses |
12.9 |
15.1 |
14.6 |
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Total payroll costs |
1.6 |
1.7 |
1.2 |
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Fixed asset depreciation and amortisation |
1.0 |
1.1 |
0.9 |
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Other operating costs |
0.4 |
1.4 |
1.3 |
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Net operating income |
3.4 |
5.1 |
12.2 |
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Total financial income |
- |
0.1 |
- |
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Total expenses |
2.5 |
5.2 |
6.3 |
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Profit before tax |
0.6 |
0.1 |
5.5 |
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Extraordinary result |
0.0 |
- |
- |
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Profit after extraordinary items and before tax |
0.6 |
- |
5.2 |
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Total taxation |
0.4 |
0.4 |
2.3 |
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Net profit |
0.2 |
- |
2.9 |
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Net loss |
- |
0.4 |
- |
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Annual Balance
Sheet |
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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 |
12.3 |
11.7 |
12.7 |
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Provision for risks |
0.1 |
0.1 |
0.1 |
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Provision for pensions |
0.3 |
0.3 |
0.2 |
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Mortgages and loans |
- |
0.9 |
2.2 |
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Other long-term liabilities |
0.0 |
0.1 |
0.0 |
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Trade creditors |
22.9 |
32.1 |
24.1 |
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Bank loans and overdrafts |
52.2 |
47.1 |
88.8 |
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Other current liabilities |
1.6 |
4.9 |
3.8 |
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Accruals and deferred income |
0.4 |
0.2 |
0.4 |
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Total current liabilities |
77.1 |
84.2 |
117.2 |
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Total liabilities (including net worth) |
89.8 |
97.3 |
132.4 |
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Intangibles |
0.4 |
0.5 |
0.2 |
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Buildings |
3.2 |
2.4 |
2.8 |
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Total tangible fixed assets |
4.9 |
4.8 |
6.7 |
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Long-term investments |
8.2 |
7.6 |
2.7 |
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Total financial assets |
9.8 |
8.5 |
4.2 |
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Receivables due after 1 year |
1.0 |
0.8 |
0.2 |
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Loans to associated companies |
1.6 |
0.9 |
1.5 |
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Total non-current assets |
16.1 |
14.6 |
11.3 |
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Finished goods |
27.1 |
33.1 |
48.0 |
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Net stocks and work in progress |
29.6 |
33.9 |
48.3 |
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Trade debtors |
36.6 |
43.8 |
64.7 |
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Other receivables |
6.3 |
4.0 |
3.5 |
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Cash and liquid assets |
0.8 |
0.3 |
3.8 |
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Accruals |
0.4 |
0.6 |
0.8 |
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Total current assets |
73.8 |
82.6 |
121.1 |
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Total assets |
89.8 |
97.3 |
132.4 |
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Annual Ratios |
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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 |
3.92 |
10.91 |
13.43 |
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Profit per employee |
0.02 |
- |
0.41 |
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Average wage per employee |
0.06 |
0.12 |
0.09 |
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Net worth |
12.3 |
11.7 |
12.7 |
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Number of employees |
38 |
18 |
18 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.08 |
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1 |
Rs.78.65 |
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Euro |
1 |
Rs.67.79 |
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.