MIRA INFORM REPORT

 

 

 

Report Date :           

23.01.2012

 

IDENTIFICATION DETAILS

 

Name :

SOFTER COLOR SRL

 

 

Registered Office :

Via Golfarelli Innocenzo 88/D, Forli', 47122

 

 

Country :

Italy

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

12.03.1984

 

 

Com. Reg. No.:

01609630403

 

 

Legal Form :

Private Independent Company

 

 

Line of Business :

manufacture of various chemical products: peptones, peptone derivatives, other protein substances and their derivatives.

 

 

No. of Employees :

13

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Small Company 

 

 

Payment Behaviour :

No Complaints

 

 

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 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

Italy

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name & address 

 

Softer Color SRL

Via Golfarelli Innocenzo 88/D

Forli', 47122

Italy

Tel:       +39 0543 724672

Fax:      +39 0543 724650

 

 

Synthesis     

 

Employees:                  13

Company Type:            Private Independent

Incorporation Date:         12-Mar-1984    

Financials in:                 USD (Millions)

Fiscal Year End:            31-Dec-2010

Reporting Currency:       Euro

Annual Sales:                6.0

Total Assets:                 4.0

 

 

Business Description     

 

Softer Color SRL is primarily engaged in manufacture of various chemical products: peptones, peptone derivatives, other protein substances and their derivatives not elsewhere classified; chemically modified oils and fats; materials used in the finishing of textiles and leather; powders and pastes used in soldering, brazing or welding; substances used to pickle metal; prepared additives for cements; activated carbon, lubricating oil additives, prepared rubber accelerators, catalysts and other chemical products for industrial use; anti-knock preparations, anti-freeze preparations, liquids for hydraulic transmission; and composite diagnostic or laboratory reagents. This class also includes: manufacture of writing and drawing ink.

 

Industry

Industry            Chemical Manufacturing

ANZSIC 2006:    1899 - Other Basic Chemical Product Manufacturing Not Elsewhere Classified

NACE 2002:      2466 - Manufacture of other chemical products not elsewhere classified

NAICS 2002:     325998 - All Other Miscellaneous Chemical Product and Preparation Manufacturing

UK SIC 2003:    2466 - Manufacture of other chemical products not elsewhere classified

US SIC 1987:    2899 - Chemicals and Chemical Preparations, Not Elsewhere Classified

 

           


Key Executives   

 

Name

Title

Adriano Fabbri

President

Antonio Salzillo

Vice president

Pietro Fabbri

Member of the board

 

Registered No.(ITA): 01609630403

 

1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7550783

2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7454064

 

 

Corporate Overview

 

Location

Via Golfarelli Innocenzo 88/D

Forli', 47122

FORLI'-CESENA County

Italy

Tel:       +39 0543 724672

Fax:      +39 0543 724650

           

Sales EUR(mil):             4.6

Assets EUR(mil):           3.0

Employees:                   13

Fiscal Year End:            31-Dec-2010

Industry:                        Chemical Manufacturing

Incorporation Date:         12-Mar-1984

Company Type:             Private Independent

Quoted Status:              Not Quoted

Registered No.(ITA):       01609630403

Member of the board:     Pietro Fabbri

 

Contents

·         Industry Codes

·         Business Description

·         Financial Data

·         Key Corporate Relationships

 

Industry Codes

 

ANZSIC 2006 Codes:

1916     -          Paint and Coatings Manufacturing

1899     -          Other Basic Chemical Product Manufacturing Not Elsewhere Classified

 

NACE 2002 Codes:

2430     -          Manufacture of paints, varnishes and similar coatings, printing ink and mastics

2466     -          Manufacture of other chemical products not elsewhere classified

 

NAICS 2002 Codes:

3255     -          Paint, Coating, and Adhesive Manufacturing

325998  -          All Other Miscellaneous Chemical Product and Preparation Manufacturing

 

US SIC 1987:

2899     -          Chemicals and Chemical Preparations, Not Elsewhere Classified

2851     -          Paints, Varnishes, Lacquers, Enamels, and Allied Products

 

UK SIC 2003:

2466     -          Manufacture of other chemical products not elsewhere classified

2430     -          Manufacture of paints, varnishes and similar coatings, printing ink and mastics

 

Business Description

Softer Color SRL is primarily engaged in manufacture of various chemical products: peptones, peptone derivatives, other protein substances and their derivatives not elsewhere classified; chemically modified oils and fats; materials used in the finishing of textiles and leather; powders and pastes used in soldering, brazing or welding; substances used to pickle metal; prepared additives for cements; activated carbon, lubricating oil additives, prepared rubber accelerators, catalysts and other chemical products for industrial use; anti-knock preparations, anti-freeze preparations, liquids for hydraulic transmission; and composite diagnostic or laboratory reagents. This class also includes: manufacture of writing and drawing ink.

 

 

Financial Data

Financials in:

EUR(mil)

 

Revenue:

4.6

Assets:

3.0

Current Assets:

2.9

 

Total Liabilities:

3.0

 

Net Worth:

0.4

 

 

 

Date of Financial Data:

31-Dec-2010

 

1 Year Growth

22.2%

NA

 

Key Corporate Relationships

Bank:

Unicredit Banca Ag, Cassa di Risparmio di Ferrara Ag, Banca di Forli' - Credito Cooperativo Ag

 

 

 

 

 

 

 

 

 

 

 

Executive report

 

Board of Directors

 

Name

Title

Function

 

Pietro Fabbri

 

Member of the board

Director/Board Member

 

 

Executives

 

Name

Title

Function

 

Adriano Fabbri

 

President

President

 

Antonio Salzillo

 

Vice president

Other

 

 

 

Annual Profit & Loss

 

                                                                               

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

Period Length

12 Months

12 Months

12 Months

Filed Currency

EUR

EUR

EUR

Exchange Rate (Period Average)

0.755078

0.719047

0.683679

Consolidated

No

No

No

 

 

 

 

Total income

6.1

5.2

6.0

Net sales

6.0

5.2

6.0

Other operating income

0.1

0.0

0.0

Raw materials and consumables employed

4.2

3.5

4.0

Other expenses

0.9

0.9

0.8

Total payroll costs

0.8

0.8

1.0

Fixed asset depreciation and amortisation

0.0

0.0

0.0

Other operating costs

0.1

0.0

0.0

Net operating income

0.2

0.0

0.2

Total financial income

0.0

0.0

0.0

Total expenses

0.0

0.1

0.1

Profit before tax

0.1

-0.1

0.1

Extraordinary result

0.0

-

-

Profit after extraordinary items and before tax

0.1

-0.1

0.1

Total taxation

0.1

0.0

0.0

Net profit

0.0

-

0.0

Net loss

-

0.1

-

 

 

 

 

Annual Balance Sheet

 

Financials in: USD (mil)

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

Filed Currency

EUR

EUR

EUR

Exchange Rate

0.745406

0.696986

0.719399

Consolidated

No

No

No

 

 

 

 

Total stockholders equity

0.5

0.5

0.5

Provision for risks

0.0

0.0

0.0

Provision for pensions

0.1

0.1

0.1

Mortgages and loans

-

-

0.4

Other long-term liabilities

0.1

0.1

-

Trade creditors

-

-

1.2

Bank loans and overdrafts

-

-

1.3

Other current liabilities

3.3

3.2

0.1

Accruals and deferred income

0.0

0.0

0.0

Total current liabilities

3.3

3.2

2.7

Total liabilities (including net worth)

4.0

3.9

3.8

Intangibles

0.0

0.0

0.0

Total tangible fixed assets

0.1

0.1

0.1

Receivables due after 1 year

0.0

0.0

0.0

Total non-current assets

0.1

0.1

0.1

Net stocks and work in progress

1.4

1.4

1.8

Trade debtors

-

-

1.8

Other receivables

2.4

2.2

-

Cash and liquid assets

0.1

0.2

0.1

Accruals

0.0

-

-

Total current assets

3.9

3.7

3.6

Total assets

4.0

3.9

3.8

 

 

 

Annual Ratios

 

Financials in: USD (mil)

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

Period Length

12 Months

12 Months

12 Months

Filed Currency

EUR

EUR

EUR

Exchange Rate

0.745406

0.696986

0.719399

Consolidated

No

No

No

 

 

 

 

Current ratio

1.20

1.20

1.40

Quick ratio

0.80

0.80

0.70

Current liabilities to net worth

0.07%

0.07%

0.05%

Sales per employee

-

0.25

0.29

Average wage per employee

-

0.04

0.05

Net worth

0.5

0.5

0.5

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.50.33

UK Pound

1

Rs.77.97

Euro

1

Rs.65.07

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

----

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%)

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.