MIRA
INFORM REPORT
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Report Date : |
03.02.2012 |
IDENTIFICATION DETAILS
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Name : |
INOX TECH SPA |
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Registered Office : |
Via Aldo Moro 10/C Lendinara, 45026 |
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Country : |
Italy |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
06.04.1989 |
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Com. Reg. No.: |
00873200299 |
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Legal Form : |
Public Subsidiary |
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Line of Business : |
Forging, pressing, stamping and roll forming of metal; powder metallurgy |
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No. of Employees : |
139 |
RATING & COMMENTS
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MIRAs 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 : |
Good |
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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 Tech SpA
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Business
Description
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Inox Tech SpA is primarily engaged in forging, pressing, stamping and roll-forming
of metal; and powder metallurgy: production of metal objects directly from
metal powders by heat treatment (sintering) or under pressure. |
Industry
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Industry |
Miscellaneous Fabricated Products |
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ANZSIC 2006: |
2240 - Sheet Metal Product Manufacturing
(except Metal Structural and Container Products) |
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NACE 2002: |
2840 - Forging, pressing, stamping and
roll forming of metal; powder metallurgy |
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NAICS 2002: |
33211 - Forging and Stamping |
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UK SIC 2003: |
2840 - Forging, pressing, stamping and
roll forming of metal; powder metallurgy |
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US SIC 1987: |
3462 - Iron and Steel Forgings |
Key Executives
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1 - Profit &
Loss Item Exchange Rate: USD 1 = EUR 0.7550783
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7454064
Corporate Overview
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Corporate Structure News
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Inox Tech SpA |
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
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Parent |
Zane', Vicenza |
Italy |
Miscellaneous Fabricated Products |
23.9 |
145 |
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Subsidiary |
Lendinara, Rovigo |
Italy |
Miscellaneous Fabricated Products |
101.3 |
139 |
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Subsidiary |
Domus De Maria, Cagliari |
Italy |
Construction Services |
0.0 |
2 |
Executives Report
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Annual Profit & Loss
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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 |
130.1 |
90.2 |
186.0 |
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Net sales |
101.3 |
90.8 |
193.3 |
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Other operating income |
1.7 |
1.3 |
1.5 |
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Raw materials and consumables employed |
93.6 |
57.2 |
126.1 |
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Other expenses |
15.3 |
14.1 |
19.0 |
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Total payroll costs |
6.6 |
6.2 |
6.0 |
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Fixed asset depreciation and amortisation |
3.5 |
3.1 |
2.9 |
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Other operating costs |
0.1 |
0.8 |
3.7 |
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Net operating income |
10.9 |
8.8 |
28.2 |
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Total financial income |
1.0 |
0.2 |
0.9 |
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Total expenses |
1.2 |
0.6 |
2.2 |
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Profit before tax |
10.7 |
8.4 |
27.0 |
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Profit after extraordinary items and before tax |
10.7 |
8.4 |
27.0 |
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Total taxation |
3.1 |
2.8 |
8.8 |
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Net profit |
7.6 |
5.6 |
18.2 |
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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 |
37.6 |
33.0 |
31.9 |
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Provision for risks |
- |
- |
0.0 |
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Provision for pensions |
0.6 |
0.7 |
0.7 |
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Mortgages and loans |
10.4 |
9.8 |
9.3 |
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Trade creditors |
65.7 |
26.8 |
27.8 |
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Bank loans and overdrafts |
38.3 |
24.5 |
10.3 |
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Other current liabilities |
7.9 |
10.2 |
15.5 |
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Accruals and deferred income |
0.2 |
0.2 |
0.3 |
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Total current liabilities |
112.2 |
61.8 |
53.9 |
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Total liabilities (including net worth) |
160.7 |
105.2 |
95.8 |
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Intangibles |
1.0 |
1.0 |
0.9 |
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Buildings |
0.3 |
0.2 |
0.2 |
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Total tangible fixed assets |
16.7 |
15.4 |
12.6 |
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Long-term investments |
0.9 |
0.0 |
0.0 |
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Total financial assets |
23.5 |
21.2 |
8.9 |
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Receivables due after 1 year |
0.5 |
0.5 |
0.5 |
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Loans to associated companies |
22.5 |
21.2 |
8.9 |
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Total non-current assets |
41.7 |
38.1 |
22.9 |
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Finished goods |
36.1 |
9.2 |
10.9 |
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Net stocks and work in progress |
65.0 |
22.4 |
24.1 |
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Trade debtors |
48.6 |
29.4 |
24.8 |
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Other receivables |
2.6 |
8.5 |
10.9 |
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Cash and liquid assets |
2.3 |
6.3 |
12.2 |
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Accruals |
0.5 |
0.6 |
0.8 |
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Total current assets |
119.0 |
67.1 |
72.8 |
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Total assets |
160.7 |
105.2 |
95.8 |
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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 |
1.10 |
1.10 |
1.40 |
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Quick ratio |
0.50 |
0.70 |
0.90 |
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Current liabilities to net worth |
0.03% |
0.02% |
0.02% |
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Sales per employee |
0.62 |
0.56 |
1.20 |
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Profit per employee |
0.06 |
0.05 |
0.17 |
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Average wage per employee |
0.04 |
0.04 |
0.04 |
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Net worth |
37.6 |
33.0 |
31.9 |
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Number of employees |
124 |
116 |
110 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.13 |
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1 |
Rs.77.85 |
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Euro |
1 |
Rs.64.75 |
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 SCs 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.