MIRA
INFORM REPORT
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Report Date : |
14.10.2011 |
IDENTIFICATION DETAILS
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Name : |
GMI SRL |
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Registered Office : |
Via Meucci 36 Vittorio Veneto, 31029 |
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Country : |
Italy |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
25.03.1988 |
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Com. Reg. No.: |
02075430260 |
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Legal Form : |
Private Independent |
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Line of Business : |
Manufacture of television and radio receivers, sound or video recording or reproducing apparatus and associated 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 : |
Cleat |
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
Gmi SRL
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Business
Description
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Gmi SRL is primarily engaged in manufacture of television receivers
including video monitors and video projectors; manufacture of video recording
or reproducing apparatus including camcorders, DVD recorders and players;
manufacture of digital photographic cameras; manufacture of
radio-broadcasting receivers; manufacture of magnetic tape recorders and
other sound recording apparatus including telephone answering machines,
cassette-type recorders, etc.; manufacture of turn-tables (record decks), record
players, cassette players, CD players, etc.; and manufacture of microphones,
loudspeakers, headphones, earphones, amplifiers and sound amplifier sets;
manufacture of pick-ups, tone arms, sound-heads, tables for turn-tables,
aerials, aerial reflectors and aerial rotors, cable converters, TV decoders.
This class also includes: manufacture of sound electroacoustic apparatus,
command transmitter intercoms, simultaneous interpretation apparatus,
electronic voting systems, conference systems, portable sound systems. |
Industry
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Industry |
Audio and Video Equipment |
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ANZSIC 2006: |
2429 - Other Electronic Equipment
Manufacturing |
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NACE 2002: |
3230 - Manufacture of television and radio
receivers, sound or video recording or reproducing apparatus and associated
goods |
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NAICS 2002: |
334310 - Audio and Video Equipment
Manufacturing |
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UK SIC 2003: |
3230 - Manufacture of television and radio
receivers, sound or video recording or reproducing apparatus and associated
goods |
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US SIC 1987: |
3679 - Electronic Components, Not
Elsewhere Classified |
Key Executives
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1 - Profit &
Loss Item Exchange Rate: USD 1 = EUR 0.7306374
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.6839711
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 |
1.9 |
4.7 |
5.8 |
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Net sales |
2.4 |
4.7 |
5.7 |
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Other operating income |
0.0 |
0.0 |
0.1 |
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Raw materials and consumables employed |
0.5 |
2.5 |
3.0 |
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Other expenses |
0.8 |
1.4 |
1.3 |
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Total payroll costs |
0.6 |
0.7 |
1.1 |
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Fixed asset depreciation and amortisation |
0.3 |
0.2 |
0.2 |
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Other operating costs |
0.0 |
0.0 |
0.0 |
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Net operating income |
- |
- |
0.2 |
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Total financial income |
0.0 |
0.0 |
0.0 |
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Total expenses |
0.2 |
0.2 |
0.1 |
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Profit before tax |
- |
- |
0.1 |
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Extraordinary result |
0.2 |
- |
- |
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Profit after extraordinary items and before tax |
- |
- |
0.1 |
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Total taxation |
- |
- |
0.1 |
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Net profit |
- |
- |
0.1 |
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Net loss |
0.2 |
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 |
0.2 |
0.3 |
0.7 |
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Provision for risks |
0.0 |
0.0 |
0.0 |
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Provision for pensions |
0.4 |
0.4 |
0.4 |
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Mortgages and loans |
0.4 |
- |
- |
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Other long-term liabilities |
0.6 |
0.4 |
- |
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Trade creditors |
0.8 |
- |
- |
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Bank loans and overdrafts |
1.6 |
- |
- |
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Other current liabilities |
0.2 |
4.1 |
4.8 |
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Accruals and deferred income |
0.0 |
0.0 |
0.1 |
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Total current liabilities |
2.7 |
4.1 |
4.8 |
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Total liabilities (including net worth) |
4.3 |
5.3 |
6.0 |
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Intangibles |
0.7 |
0.6 |
0.3 |
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Total tangible fixed assets |
0.1 |
0.1 |
0.1 |
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Receivables due after 1 year |
0.0 |
0.0 |
0.0 |
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Total non-current assets |
0.8 |
0.7 |
0.4 |
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Net stocks and work in progress |
1.6 |
2.1 |
2.2 |
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Trade debtors |
1.7 |
- |
- |
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Other receivables |
0.1 |
2.4 |
3.3 |
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Cash and liquid assets |
0.0 |
0.0 |
0.0 |
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Accruals |
0.0 |
0.0 |
0.1 |
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Total current assets |
3.5 |
4.6 |
5.5 |
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Total assets |
4.3 |
5.3 |
6.0 |
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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 |
0.17 |
0.31 |
0.40 |
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Profit per employee |
- |
- |
0.01 |
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Average wage per employee |
0.04 |
0.05 |
0.08 |
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Net worth |
0.2 |
0.3 |
0.7 |
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Number of employees |
20 |
20 |
20 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.02 |
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1 |
Rs.77.13 |
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Euro |
1 |
Rs.67.55 |
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.