MIRA
INFORM REPORT
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Report Date : |
10.08.2012 |
IDENTIFICATION DETAILS
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Name : |
STILMAS SPA |
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Registered Office : |
Viale Delle Industrie Nord 12, Settala, 20090 |
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Country : |
Italy |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
10.09.1969 |
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Com. Reg. No.: |
07985010151 |
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Legal Form : |
Public Subsidiary |
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Line of Business : |
Manufacture of refrigerating or freezing industrial equipment;
manufacture of air-conditioning machines |
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No. of Employees : |
99 |
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 : |
Slow but 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, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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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
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Stilmas SpA |
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Business Description
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Stilmas SpA is primarily engaged in
manufacture of refrigerating or freezing industrial equipment; manufacture of
air-conditioning machines; manufacture of heat exchangers; and manufacture of
non-domestic fans. |
Industry
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Industry |
Miscellaneous
Capital Goods |
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ANZSIC 2006: |
2452 - Fixed
Space Heating, Cooling and Ventilation Equipment Manufacturing |
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NACE 2002: |
2923 -
Manufacture of non-domestic cooling and ventilation equipment |
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NAICS 2002: |
333415 - Air-Conditioning
and Warm Air Heating Equipment and Commercial and Industrial Refrigeration
Equipment Manufacturing |
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UK SIC 2003: |
2923 -
Manufacture of non-domestic cooling and ventilation equipment |
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US SIC 1987: |
3564 - Industrial
and Commercial Fans and Blowers and Air Purification Equipment |
Key Executives
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Registered No.(ITA)
07985010151
1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7550783
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7454064
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Corporate Family |
Corporate Structure News: |
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Stilmas SpA |
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
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MASCO SRL |
Parent |
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Subsidiary |
Settala, Milano |
Italy |
Miscellaneous Capital Goods |
40.5 |
99 |
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Subsidiary |
Milano, Milano |
Italy |
Miscellaneous Capital Goods |
15.6 |
66 |
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Subsidiary |
Settala, Milano |
Italy |
Engineering Consultants |
2.8 |
18 |
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31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
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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) |
0.755078 |
0.719047 |
0.683679 |
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Consolidated |
No |
No |
No |
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Total income |
40.2 |
42.6 |
45.1 |
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Net sales |
40.5 |
42.7 |
45.3 |
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Other operating income |
0.5 |
0.3 |
0.3 |
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Raw materials and consumables employed |
12.9 |
13.8 |
17.0 |
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Other expenses |
17.5 |
19.3 |
19.8 |
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Total payroll costs |
6.5 |
6.2 |
6.3 |
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Fixed asset depreciation and amortisation |
1.2 |
1.1 |
1.3 |
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Other operating costs |
0.2 |
0.2 |
0.2 |
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Net operating income |
2.0 |
1.9 |
0.5 |
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Total financial income |
0.0 |
0.1 |
0.0 |
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Total expenses |
0.2 |
0.2 |
0.5 |
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Profit before tax |
1.8 |
1.8 |
-0.1 |
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Extraordinary result |
0.0 |
0.2 |
4.5 |
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Profit after extraordinary items and before tax |
1.7 |
2.0 |
4.4 |
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Total taxation |
0.9 |
0.9 |
1.6 |
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Net profit |
0.9 |
1.1 |
2.8 |
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Annual Balance Sheet |
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Financials in:
USD (mil) |
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31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate |
0.745406 |
0.696986 |
0.719399 |
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Consolidated |
No |
No |
No |
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Total stockholders equity |
5.7 |
6.9 |
5.6 |
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Provision for risks |
0.7 |
1.0 |
1.2 |
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Provision for pensions |
0.9 |
1.1 |
1.2 |
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Trade creditors |
18.4 |
21.9 |
20.3 |
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Bank loans and overdrafts |
8.7 |
9.7 |
8.0 |
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Other current liabilities |
4.4 |
5.0 |
3.8 |
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Total current liabilities |
31.5 |
36.5 |
32.1 |
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Total liabilities (including net worth) |
38.9 |
45.5 |
40.1 |
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Intangibles |
1.3 |
2.0 |
2.5 |
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Buildings |
0.5 |
0.6 |
4.3 |
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Total tangible fixed assets |
5.9 |
5.7 |
6.8 |
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Long-term investments |
0.5 |
0.6 |
0.6 |
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Total financial assets |
0.5 |
0.6 |
0.6 |
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Receivables due after 1 year |
0.2 |
0.2 |
2.3 |
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Total non-current assets |
7.9 |
8.4 |
12.1 |
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Finished goods |
1.7 |
2.7 |
2.9 |
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Net stocks and work in progress |
4.9 |
6.3 |
6.1 |
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Trade debtors |
20.0 |
22.8 |
15.0 |
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Other receivables |
5.6 |
6.3 |
5.3 |
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Cash and liquid assets |
0.4 |
1.6 |
1.5 |
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Accruals |
0.0 |
0.0 |
0.0 |
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Total current assets |
31.0 |
37.1 |
28.0 |
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Total assets |
38.9 |
45.5 |
40.1 |
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Annual Ratios |
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Financials in:
USD (mil) |
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31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
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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 |
0.745406 |
0.696986 |
0.719399 |
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Consolidated |
No |
No |
No |
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Current ratio |
1.00 |
1.00 |
0.90 |
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Quick ratio |
0.80 |
0.80 |
0.70 |
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Current liabilities to net worth |
0.06% |
0.05% |
0.06% |
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Sales per employee |
0.30 |
0.31 |
0.32 |
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Profit per employee |
0.01 |
0.01 |
0.03 |
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Average wage per employee |
0.05 |
0.04 |
0.04 |
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Net worth |
5.7 |
6.9 |
5.6 |
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Number of employees |
102 |
100 |
97 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.55.17 |
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1 |
Rs.86.42 |
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Euro |
1 |
Rs.68.26 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.