MIRA
INFORM REPORT
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Report Date : |
20.04.2012 |
IDENTIFICATION DETAILS
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Name : |
COIM SPA CHIMICA ORGANICA INDUSTRIALE MILANESE |
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Registered Office : |
Via Manzoni 28/32 |
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Country : |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
08.02.1966 |
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Com. Reg. No.: |
00798810156 |
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Legal Form : |
Public Parent |
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Line of Business : |
Manufacture of plastics in primary forms |
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No. of Employees : |
418 |
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 : |
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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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
Coim SpA Chimica Organica Industriale Milanese
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Business
Description
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Coim SpA Chimica Organica Industriale Milanese is primarily engaged in
manufacture of plastic tableware, kitchenware and toilet articles; and
manufacture of diverse plastic products (plastic headgear, insulating
fittings, parts of lighting fittings, office or school supplies, articles of
apparel, fittings for furniture, statuettes, transmission and conveyor belts,
etc.). |
Industry
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Industry |
Chemicals - Plastics and Rubber |
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ANZSIC 2006: |
1821 - Synthetic Resin and Synthetic
Rubber Manufacturing |
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NACE 2002: |
2416 - Manufacture of plastics in primary
forms |
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NAICS 2002: |
325211 - Plastics Material and Resin
Manufacturing |
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2416 - Manufacture of plastics in primary
forms |
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US SIC 1987: |
2821 - Plastics Materials, Synthetic
Resins, and Nonvulcanizable Elastomers |
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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Coim SpA Chimica
Organica Industriale Milanese |
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
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Parent |
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Chemicals - Plastics and Rubber |
336.3 |
418 |
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Subsidiary |
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Chemical Manufacturing |
4.2 |
25 |
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Subsidiary |
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Chemical Manufacturing |
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65 |
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Subsidiary |
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Chemical Manufacturing |
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1 |
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 |
338.1 |
419.8 |
435.7 |
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Net sales |
336.3 |
421.3 |
431.0 |
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Other operating income |
1.0 |
1.3 |
2.4 |
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Raw materials and consumables employed |
210.2 |
290.2 |
314.9 |
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Other expenses |
52.3 |
58.2 |
49.6 |
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Total payroll costs |
34.5 |
35.7 |
33.5 |
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Fixed asset depreciation and amortisation |
14.6 |
14.1 |
15.3 |
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Other operating costs |
2.2 |
1.8 |
1.9 |
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Net operating income |
24.3 |
19.8 |
20.4 |
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Total financial income |
0.8 |
5.3 |
- |
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Total expenses |
5.6 |
7.3 |
4.0 |
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Profit before tax |
19.6 |
17.8 |
15.8 |
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Profit after extraordinary items and before tax |
16.2 |
16.5 |
13.1 |
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Total taxation |
5.7 |
7.0 |
2.5 |
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Net profit |
10.5 |
9.5 |
10.6 |
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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 |
330.9 |
313.5 |
290.0 |
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Provision for risks |
1.0 |
1.7 |
0.7 |
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Provision for pensions |
7.3 |
7.6 |
8.2 |
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Mortgages and loans |
49.1 |
44.7 |
53.9 |
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Other long-term liabilities |
20.1 |
26.6 |
11.1 |
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Trade creditors |
54.1 |
58.3 |
90.8 |
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Bank loans and overdrafts |
85.9 |
80.4 |
74.2 |
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Other current liabilities |
29.3 |
23.9 |
24.7 |
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Accruals and deferred income |
0.4 |
0.3 |
0.1 |
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Total current liabilities |
169.8 |
162.9 |
189.8 |
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Total liabilities (including net worth) |
578.3 |
557.0 |
553.7 |
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Intangibles |
8.9 |
3.6 |
3.8 |
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Buildings |
57.9 |
59.0 |
27.5 |
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Total tangible fixed assets |
93.1 |
99.1 |
74.7 |
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Long-term investments |
164.5 |
154.4 |
152.9 |
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Total financial assets |
241.9 |
232.6 |
201.7 |
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Receivables due after 1 year |
7.5 |
8.0 |
7.7 |
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Loans to associated companies |
51.5 |
53.0 |
48.7 |
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Total non-current assets |
351.4 |
343.2 |
287.9 |
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Finished goods |
36.9 |
35.3 |
40.1 |
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Net stocks and work in progress |
55.5 |
53.4 |
64.1 |
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Trade debtors |
109.4 |
101.9 |
121.3 |
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Other receivables |
42.9 |
53.7 |
60.4 |
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Cash and liquid assets |
18.5 |
4.4 |
19.7 |
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Marketable securities |
- |
- |
0.0 |
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Accruals |
0.6 |
0.4 |
0.4 |
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Total current assets |
226.9 |
213.7 |
265.8 |
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Total assets |
578.3 |
557.0 |
553.7 |
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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 |
1.12 |
1.33 |
1.48 |
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Profit per employee |
0.05 |
0.05 |
0.05 |
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Average wage per employee |
0.11 |
0.11 |
0.12 |
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Net worth |
330.9 |
313.5 |
290.0 |
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Number of employees |
418 |
418 |
412 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.51.89 |
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1 |
Rs.83.18 |
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Euro |
1 |
Rs.68.06 |
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.