MIRA
INFORM REPORT
|
Report Date : |
09.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
ZAITEX SPA
|
|
|
|
|
Registered Office : |
Via Artigianato 15, Povolaro, Dueville, 36031 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Date of Incorporation : |
29.11.1988 |
|
|
|
|
Com. Reg. No.: |
02034790242 |
|
|
|
|
Legal Form : |
Public Independent Company |
|
|
|
|
Line of Business : |
wholesaler
of industrial chemicals |
|
|
|
|
No. of Employees : |
24 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
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
Zaitex SpA
Via Artigianato 15
Povolaro
Dueville, 36031
Italy
Tel: +39 0444 360488
Fax: +39 0444 360383
Synthesis
Employees: 24
Company Type: Public Independent
Incorporation Date:
29-Nov-1988
Financials in: USD (Millions)
Fiscal Year End:
31-Dec-2010
Reporting Currency: Euro
Annual Sales: 20.0
Total Assets: 16.9
Business Description
ZAITEX SPA is primarily engaged in wholesale of industrial chemicals (aniline, printing ink, essential oils, industrial gases, chemical glues, colouring matter, synthetic resin, methanol, paraffin, scents and flavourings, soda, industrial salt, acids and sulphur, starch derivatives, etc.); wholesale of fertilisers and agro-chemical products; wholesale of plastic materials in primary forms; and wholesale of rubber.
Industry
Industry Chemical Manufacturing
ANZSIC 2006: 3323 - Industrial
and Agricultural Chemical Product Wholesaling
NACE 2002: 5155 - Wholesale
of chemical products
NAICS 2002: 4246 - Chemical
and Allied Products Merchant Wholesalers
UK SIC 2003: 5155 - Wholesale
of chemical products
US SIC 1987: 5169 - Chemicals
and Allied Products, Not Elsewhere Classified
Key Executives
|
Name |
Title |
|
Lino Rossi |
President |
|
Francesco Algeri |
Member of the board |
|
Antoine Henri Robert Leveugle |
Member of the board |
|
Marco Paolo Rossi |
Managing director |
Registered No.(ITA): 02034790242
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 Artigianato 15
Povolaro
Dueville, 36031
Italy
Tel: +39 0444 360488
Fax: +39 0444 360383
Sales EUR(mil): 15.1
Assets EUR(mil): 12.6
Employees: 24
Fiscal Year End: 31-Dec-2010
Industry: Chemical
Manufacturing
Incorporation Date: 29-Nov-1988
Company Type: Public Independent
Quoted Status: Not
Quoted
Registered No.(ITA): 02034790242
Managing director: Marco
Paolo Rossi
Contents
Industry Codes
Business Description
Financial Data
Key Corporate Relationships
Industry Codes
ANZSIC 2006 Codes:
3323 - Industrial and Agricultural Chemical Product Wholesaling
NACE 2002 Codes:
5155 - Wholesale of chemical products
NAICS 2002 Codes:
4246 - Chemical and Allied Products Merchant Wholesalers
US SIC 1987:
5169 - Chemicals and Allied Products, Not Elsewhere Classified
UK SIC 2003:
5155 - Wholesale of chemical products
Business
Description
ZAITEX SPA is primarily engaged in wholesale of industrial chemicals (aniline, printing ink, essential oils, industrial gases, chemical glues, colouring matter, synthetic resin, methanol, paraffin, scents and flavourings, soda, industrial salt, acids and sulphur, starch derivatives, etc.); wholesale of fertilisers and agro-chemical products; wholesale of plastic materials in primary forms; and wholesale of rubber.
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Executive report
|
Board
of Directors |
|
|
|
|
|||
|
Member of the board |
Director/Board Member |
|
|||
|
Member of the board |
Director/Board Member |
|
|
Executives |
|
|
|
|
|||
|
President |
President |
|
|||
|
Managing director |
Managing Director |
|
|||
|
Managing director |
Managing Director |
|
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 |
20.1 |
17.2 |
18.1 |
|
Net sales |
20.0 |
17.2 |
18.1 |
|
Other operating income |
0.0 |
0.0 |
0.0 |
|
Raw materials and consumables employed |
13.7 |
11.6 |
13.0 |
|
Other expenses |
2.5 |
2.3 |
2.6 |
|
Total payroll costs |
1.6 |
1.5 |
1.6 |
|
Fixed asset depreciation and amortisation |
0.3 |
0.2 |
0.2 |
|
Other operating costs |
0.1 |
0.5 |
0.1 |
|
Net operating
income |
1.8 |
1.0 |
0.6 |
|
Total financial
income |
0.0 |
0.0 |
0.1 |
|
Total expenses |
0.1 |
0.1 |
0.1 |
|
Profit before tax |
1.7 |
0.9 |
0.5 |
|
Extraordinary result |
-0.1 |
0.0 |
0.2 |
|
Profit after extraordinary items and
before tax |
1.7 |
0.9 |
0.7 |
|
Total taxation |
0.7 |
0.4 |
0.3 |
|
Net profit |
1.0 |
0.4 |
0.5 |
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 |
9.5 |
9.0 |
8.3 |
|
Provision for risks |
0.0 |
0.0 |
0.0 |
|
Provision for pensions |
0.5 |
0.5 |
0.4 |
|
Other long-term liabilities |
1.0 |
1.1 |
1.1 |
|
Trade creditors |
4.3 |
4.4 |
4.3 |
|
Bank loans and overdrafts |
0.0 |
0.0 |
0.0 |
|
Other current liabilities |
1.6 |
1.2 |
0.8 |
|
Accruals and deferred income |
- |
0.0 |
- |
|
Total current
liabilities |
5.9 |
5.5 |
5.1 |
|
Total liabilities
(including net worth) |
16.9 |
16.2 |
14.9 |
|
Intangibles |
0.1 |
0.1 |
0.1 |
|
Total tangible
fixed assets |
0.5 |
0.5 |
0.5 |
|
Long-term investments |
0.0 |
0.0 |
0.0 |
|
Total financial
assets |
2.0 |
1.1 |
0.3 |
|
Receivables due after 1 year |
- |
0.0 |
0.0 |
|
Loans to associated companies |
0.0 |
0.0 |
0.1 |
|
Total
non-current assets |
2.6 |
1.7 |
0.9 |
|
Finished goods |
4.3 |
4.3 |
5.0 |
|
Net stocks and work in progress |
4.5 |
4.5 |
5.1 |
|
Trade debtors |
8.3 |
7.3 |
6.1 |
|
Other receivables |
0.2 |
0.2 |
0.8 |
|
Cash and liquid assets |
1.4 |
2.3 |
1.9 |
|
Marketable securities |
0.1 |
0.1 |
0.1 |
|
Accruals |
0.0 |
0.0 |
0.1 |
|
Total current
assets |
14.3 |
14.5 |
14.0 |
|
Total assets |
16.9 |
16.2 |
14.9 |
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 |
2.40 |
2.60 |
2.70 |
|
Quick ratio |
1.70 |
1.80 |
1.80 |
|
Current liabilities to net worth |
0.01% |
0.01% |
0.01% |
|
Sales per employee |
0.63 |
0.62 |
0.65 |
|
Profit per employee |
0.05 |
0.03 |
0.03 |
|
Average wage per employee |
0.05 |
0.05 |
0.06 |
|
Net worth |
9.5 |
9.0 |
8.3 |
|
Number of employees |
24 |
20 |
17 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.36 |
|
UK Pound |
1 |
Rs.85.64 |
|
Euro |
1 |
Rs.69.21 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.