MIRA INFORM REPORT

 

 

Report Date :

09.07.2012

 

IDENTIFICATION DETAILS

 

Name :

MOVENGINEERING SRL

 

 

Registered Office :

Via Campignano 6, Parre, 24020

 

 

Country :

Italy

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

09.01.1984

 

 

Com. Reg. No.:

01501620163

 

 

Legal Form :

Private Subsidiary Company

 

 

Line of Business :

manufacturer of agricultural dryers

 

 

No. of Employees :

24

 

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 :

Moderate

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 – March 31st, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

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 

 

Movengineering SRL

Via Campignano 6

Parre, 24020

Italy

Tel:       +39 0357 03579

Fax:      +39 0357 03574

 

 

Synthesis     

 

Employees:                  24

Company Type:            Private Subsidiary

Corporate Family:          3 Companies

Ultimate Parent:            HYK SRL

Incorporation Date:         09-Jan-1984     

Financials in:                 USD (Millions)

Fiscal Year End:            31-Dec-2010

Reporting Currency:       Euro

Annual Sales:               4.6

Total Assets:                 5.2

 

 

Business Description     

 

MOVENGINEERING SRL is primarily engaged in manufacture of agricultural dryers; manufacture of machinery for the dairy industry (cream separators; milk processing machinery (homogenisers and irradiators); milk converting machinery (butter churns, butter workers and moulding machines); cheese-making machines (homogenisers, moulders, presses, etc.); manufacture of machinery for the grain milling industry (winnowers, sieving belts, cyclone separators, aspirator separators, grain brushing machines and the like; grinding mills, “breading” rolls or mills, feeders, sifters, bran cleaners, blenders, rice hullers, pea splitters); manufacture of presses, crushers, etc. used to make wine, cider, fruit juices, etc.; manufacture of machinery for the bakery industry or for making macaroni, spaghetti or similar products (manufacture of non-electric bakery ovens, dough mixers, dough-dividers, moulders, slicers, cake depositing machines, etc.); manufacture of machines and equipment to process diverse food (machinery to make confectionery, cocoa or chocolate; to manufacture sugar; for breweries; to process meat or poultry; to prepare fruit, nuts or vegetables; to prepare fish, shell fish or other sea-food; other machinery for the industrial preparation or manufacture of food or drink; manufacture of machinery for the extraction or preparation of animal or vegetable fats or oils; manufacture of machinery for the preparation of tobacco and for the making of cigarettes or cigars, or for pipe or chewing tobacco or snuff; and manufacture of machinery for the preparation of food in hotels and restaurants.

Industry             

Industry            Miscellaneous Capital Goods

ANZSIC 2006:    2469 - Other Specialised Machinery and Equipment Manufacturing

NACE 2002:      2953 - Manufacture of machinery for food, beverage and tobacco processing

NAICS 2002:     333294 - Food Product Machinery Manufacturing

UK SIC 2003:    2953 - Manufacture of machinery for food, beverage and tobacco processing

US SIC 1987:    3556 - Food Products Machinery

 

 

Key Executives   

 

Name

Title

Mario Mignani

President

Carlo Ceresoli

Member of the board

Sowmya Mignani

Member of the board

Sajeevan Mignani

Member of the board

Claudio Visini

Member of the board

 

Registered No.(ITA):                   01501620163

 

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 Campignano 6

Parre, 24020

Italy

Tel:       +39 0357 03579

Fax:      +39 0357 03574

           

Sales EUR(mil):             3.5

Assets EUR(mil):           3.9

Employees:                   24

Fiscal Year End:            31-Dec-2010

Industry:                        Miscellaneous Capital Goods

Incorporation Date:         09-Jan-1984

Company Type:             Private Subsidiary

Quoted Status:              Not Quoted

Registered No.(ITA):       01501620163

President:                     Mario Mignani

Contents

Industry Codes

Business Description

Financial Data

Key Corporate Relationships

 

Industry Codes

ANZSIC 2006 Codes:

2469     -          Other Specialised Machinery and Equipment Manufacturing

2499     -          Other Machinery and Equipment Manufacturing Not Elsewhere Classified

692       -          Architectural, Engineering and Technical Services

 

NACE 2002 Codes:

7420     -          Architectural and engineering activities and related technical consultancy

2953     -          Manufacture of machinery for food, beverage and tobacco processing

2956     -          Manufacture of other special purpose machinery not elsewhere classified

 

NAICS 2002 Codes:

333298  -          All Other Industrial Machinery Manufacturing

333294  -          Food Product Machinery Manufacturing

5413     -          Architectural, Engineering, and Related Services

 

US SIC 1987:

871       -          Engineering, Architectural, and Surveying

3569     -          General Industrial Machinery and Equipment, Not Elsewhere Classified

3556     -          Food Products Machinery

 

UK SIC 2003:

2953     -          Manufacture of machinery for food, beverage and tobacco processing

2956     -          Manufacture of other special purpose machinery not elsewhere classified

7420     -          Architectural and engineering activities and related technical consultancy

 

Business Description

MOVENGINEERING SRL is primarily engaged in manufacture of agricultural dryers; manufacture of machinery for the dairy industry (cream separators; milk processing machinery (homogenisers and irradiators); milk converting machinery (butter churns, butter workers and moulding machines); cheese-making machines (homogenisers, moulders, presses, etc.); manufacture of machinery for the grain milling industry (winnowers, sieving belts, cyclone separators, aspirator separators, grain brushing machines and the like; grinding mills, “breading” rolls or mills, feeders, sifters, bran cleaners, blenders, rice hullers, pea splitters); manufacture of presses, crushers, etc. used to make wine, cider, fruit juices, etc.; manufacture of machinery for the bakery industry or for making macaroni, spaghetti or similar products (manufacture of non-electric bakery ovens, dough mixers, dough-dividers, moulders, slicers, cake depositing machines, etc.); manufacture of machines and equipment to process diverse food (machinery to make confectionery, cocoa or chocolate; to manufacture sugar; for breweries; to process meat or poultry; to prepare fruit, nuts or vegetables; to prepare fish, shell fish or other sea-food; other machinery for the industrial preparation or manufacture of food or drink; manufacture of machinery for the extraction or preparation of animal or vegetable fats or oils; manufacture of machinery for the preparation of tobacco and for the making of cigarettes or cigars, or for pipe or chewing tobacco or snuff; and manufacture of machinery for the preparation of food in hotels and restaurants.

Financial Data

Financials in:

EUR(mil)

 

Revenue:

3.5

Assets:

3.9

Current Assets:

1.4

 

Total Liabilities:

3.9

 

Net Worth:

2.2

 

 

 

Date of Financial Data:

31-Dec-2010

 

1 Year Growth

-25.3%

NA

 

Key Corporate Relationships

Bank:

Ubi Banca Popolare di Bergamo Ag, Intesa Sanpaolo Ag

 

 

 

 

 

 

 

 

 

 

Corporate Family

Corporate Structure News:

 

Movengineering SRL

Movengineering SRL 
Total Corporate Family Members: 3 

 

 

 

Company Name

Company Type

Location

Country

Industry

Sales
(USD mil)

Employees

 

HYK SRL

Parent

 

 

 

 

 

 

Movengineering SRL

Subsidiary

Parre, Bergamo

Italy

Miscellaneous Capital Goods

4.6

24

 

Princo SRL

Subsidiary

Parre, Bergamo

Italy

Miscellaneous Capital Goods

10.6

7

 

 

 

Executive report

 

Board of Directors

 

Name

Title

Function

 

Carlo Ceresoli

 

Member of the board

Director/Board Member

 

Sajeevan Mignani

 

Member of the board

Director/Board Member

 

Sowmya Mignani

 

Member of the board

Director/Board Member

 

Claudio Visini

 

Member of the board

Director/Board Member

 

 

Executives

 

Name

Title

Function

 

Mario Mignani

 

President

President

 

 

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

4.7

6.6

7.0

Net sales

4.6

6.5

6.8

Other operating income

0.1

0.1

0.2

Raw materials and consumables employed

1.6

2.6

3.3

Other expenses

1.3

1.8

1.8

Total payroll costs

1.2

1.4

1.3

Fixed asset depreciation and amortisation

0.0

0.0

0.0

Other operating costs

0.1

0.0

0.1

Net operating income

0.6

0.7

0.4

Total financial income

0.0

0.0

0.1

Total expenses

-

-

0.0

Profit before tax

0.6

0.7

0.5

Extraordinary result

0.0

0.0

-

Profit after extraordinary items and before tax

0.5

0.7

0.5

Total taxation

0.2

0.3

0.2

Net profit

0.3

0.5

0.3

 

 

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

2.9

2.8

2.2

Provision for risks

0.4

0.5

0.4

Provision for pensions

0.3

0.4

0.4

Trade creditors

0.6

0.6

-

Advances received

0.7

0.5

-

Bank loans and overdrafts

0.0

0.0

-

Other current liabilities

0.3

0.4

2.9

Accruals and deferred income

0.0

0.1

0.0

Total current liabilities

1.6

1.6

3.0

Total liabilities (including net worth)

5.2

5.2

6.0

Intangibles

0.0

0.0

0.0

Total tangible fixed assets

0.1

0.1

0.1

Total financial assets

3.1

0.1

0.1

Receivables due after 1 year

0.1

0.1

-

Total non-current assets

3.3

0.4

0.2

Net stocks and work in progress

0.8

1.3

3.7

Trade debtors

0.6

1.5

-

Other receivables

0.2

0.5

1.1

Cash and liquid assets

0.2

1.5

0.9

Accruals

0.0

0.0

0.0

Total current assets

1.9

4.8

5.7

Total assets

5.2

5.2

6.0

 

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

3.10

1.90

Quick ratio

0.70

2.20

0.70

Current liabilities to net worth

0.01%

0.01%

0.01%

Sales per employee

0.15

0.19

0.19

Average wage per employee

0.04

0.04

0.04

Net worth

2.9

2.8

2.2

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.42

UK Pound

1

Rs.86.04

Euro

1

Rs.68.61

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

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.