MIRA INFORM REPORT
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Report Date : |
28.09.2011 |
IDENTIFICATION DETAILS
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Name : |
ARFIL SRL |
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Registered Office : |
Via Albert Bruce Sabin 4/2, Prato, 59100 |
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Country : |
Italy |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
29.04.1987 |
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Com. Reg. No.: |
01022740474 |
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Legal Form : |
Private Subsidiary |
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Line of Business : |
preparatory operations on cotton-type fibres,
carding and combing; and manufacture of cotton-type yarn, either with cotton
or artificial or synthetic fibres, for weaving, knitting, etc. |
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 & address
Arfil SRL
Via Albert Bruce Sabin 4/2
Prato, 59100
Italy
Tel: +39 0574 66531
Fax: +39 0574 623345
Synthesis
Employees: 9
Company Type: Private Subsidiary
Corporate Family: 3
Companies
Ultimate Parent: SVILUPPO SRL
Incorporation Date: 29-Apr-1987
Financials in: USD
(Millions)
Fiscal Year End:
31-Dec-2009
Reporting Currency: Euro
Annual Sales: 30.6
Total Assets: 27.7
Business Description
Arfil SRL is
primarily engaged in preparatory operations on cotton-type fibres, carding and
combing; and manufacture of cotton-type yarn, either with cotton or artificial
or synthetic fibres, for weaving, knitting, etc.
Industry
Industry Apparel and Accessories
ANZSIC 2006: 1312 - Natural
Textile Manufacturing
NACE 2002: 1711 - Preparation
and spinning of cotton-type fibres
NAICS 2002: 313111 - Yarn
Spinning Mills
UK SIC 2003: 1711 - Preparation
and spinning of cotton-type fibres
US SIC 1987: 2281 - Yarn
Spinning Mills
Key Executives
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Name |
Title |
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Normanda Fabbretti |
Executive |
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Sergio Longo |
Executive |
Registered No.(ITA): 01022740474
1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7190468
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.6969855
Corporate Overview
Location
Via Albert Bruce Sabin 4/2
Prato, 59100
Italy
Tel: +39 0574 66531
Fax: +39 0574 623345
Sales EUR(mil): 22.0
Assets EUR(mil): 19.3
Employees: 9
Fiscal Year End: 31-Dec-2009
Industry: Apparel and Accessories
Incorporation Date: 29-Apr-1987
Company Type: Private Subsidiary
Quoted Status: Not Quoted
Registered No.(ITA): 01022740474
Contents
· Industry Codes
· Business Description
· Financial Data
· Subsidiaries
· Key Corporate Relationships
Industry Codes
ANZSIC 2006 Codes:
1312 - Natural Textile Manufacturing
NACE 2002 Codes:
1711 - Preparation and spinning of cotton-type fibres
NAICS 2002 Codes:
313111 - Yarn Spinning Mills
US SIC 1987:
2281 - Yarn Spinning Mills
UK SIC 2003:
1711 - Preparation and spinning of cotton-type fibres
Business
Description
Arfil SRL is primarily engaged in preparatory operations on cotton-type
fibres, carding and combing; and manufacture of cotton-type yarn, either with
cotton or artificial or synthetic fibres, for weaving, knitting, etc.
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Corporate
Family |
Corporate
Structure News: |
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Total Corporate Family Members: 3 |
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
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SVILUPPO SRL |
Parent |
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Subsidiary |
Prato, Prato |
Italy |
Apparel and Accessories |
30.6 |
9 |
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Subsidiary |
Prato, Prato |
Italy |
Apparel and Accessories |
9.5 |
7 |
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Executive report
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Executives |
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Executive |
Other |
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Executive |
Other |
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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 |
31.8 |
42.1 |
47.3 |
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Net sales |
30.6 |
40.4 |
47.4 |
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Other operating income |
1.5 |
1.8 |
0.2 |
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Raw materials and consumables employed |
25.7 |
34.6 |
36.3 |
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Other expenses |
3.8 |
4.8 |
8.2 |
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Total payroll costs |
0.5 |
0.6 |
1.0 |
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Fixed asset depreciation and amortisation |
0.2 |
0.3 |
0.3 |
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Other operating costs |
0.3 |
0.1 |
0.2 |
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Net operating
income |
1.4 |
1.7 |
1.2 |
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Total financial
income |
- |
0.2 |
0.3 |
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Total expenses |
0.8 |
1.3 |
0.9 |
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Profit before tax |
0.5 |
0.6 |
0.6 |
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Profit after extraordinary items and
before tax |
0.4 |
0.3 |
0.6 |
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Total taxation |
0.2 |
0.2 |
0.3 |
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Net profit |
0.2 |
0.1 |
0.2 |
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 |
4.0 |
3.0 |
3.0 |
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Provision for risks |
0.3 |
0.1 |
0.1 |
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Provision for pensions |
0.1 |
0.1 |
0.2 |
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Mortgages and loans |
3.5 |
2.9 |
7.4 |
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Other long-term liabilities |
- |
0.0 |
0.0 |
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Trade creditors |
5.7 |
3.9 |
3.8 |
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Bank loans and overdrafts |
12.6 |
14.5 |
8.5 |
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Other current liabilities |
1.3 |
0.3 |
0.3 |
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Accruals and deferred income |
0.2 |
0.3 |
0.2 |
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Total current
liabilities |
19.7 |
18.9 |
12.9 |
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Total
liabilities (including net worth) |
27.7 |
25.0 |
23.5 |
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Intangibles |
0.1 |
0.2 |
0.3 |
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Buildings |
- |
1.4 |
3.0 |
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Total tangible
fixed assets |
0.6 |
2.2 |
4.0 |
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Long-term investments |
2.2 |
1.3 |
1.4 |
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Total financial
assets |
9.4 |
4.2 |
3.9 |
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Receivables due after 1 year |
2.1 |
0.0 |
0.0 |
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Loans to associated companies |
7.2 |
2.9 |
2.5 |
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Total
non-current assets |
12.3 |
6.6 |
8.1 |
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Finished goods |
0.5 |
0.8 |
0.9 |
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Net stocks and work in progress |
1.0 |
1.7 |
2.3 |
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Trade debtors |
8.5 |
15.4 |
11.7 |
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Other receivables |
5.1 |
0.7 |
0.6 |
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Cash and liquid assets |
0.3 |
0.2 |
0.3 |
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Marketable securities |
0.2 |
0.2 |
0.2 |
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Accruals |
0.3 |
0.2 |
0.1 |
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Total current
assets |
15.4 |
18.4 |
15.3 |
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Total assets |
27.7 |
25.0 |
23.5 |
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 |
2.03 |
2.54 |
3.05 |
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Profit per employee |
0.03 |
0.02 |
0.04 |
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Average wage per employee |
0.03 |
0.04 |
0.07 |
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Net worth |
4.0 |
3.0 |
3.0 |
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Number of employees |
21 |
21 |
22 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.18 |
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UK Pound |
1 |
Rs.76.65 |
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Euro |
1 |
Rs.66.63 |
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 |
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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.