MIRA
INFORM REPORT
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Report Date : |
23.06.2012 |
IDENTIFICATION DETAILS
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Name : |
CFP FLEXIBLE PACKAGING SPA |
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Registered Office : |
Via G. Marconato 8 |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
14.05.2001 |
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Com. Reg. No.: |
13444130150 |
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Legal Form : |
Public Subsidiary |
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Line of Business : |
Manufacture of corrugated paper and paperboard and of containers of paper and paperboard |
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No. of Employees : |
111 |
RATING & COMMENTS
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MIRA’s 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 : |
Satisfactory |
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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 – March 31st, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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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
Cfp Flexible Packaging SpA
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Business Description
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CFP FLEXIBLE PACKAGING SPA is primarily engaged in manufacture of
corrugated paper and paperboard, sacks and bags; manufacture of cartons, boxes
and cases of corrugated paper and paperboard; manufacture of cartons, boxes
and cases of non-corrugated paper and paperboard; manufacture of cartons and
similar containers of paper and paperboard specifically designed for carrying
liquids, whether or not waxed; and manufacture of other containers. |
Industry
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Industry |
Containers and Packaging |
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ANZSIC 2006: |
152 - Converted Paper Product
Manufacturing |
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NACE 2002: |
2121 - Manufacture of corrugated paper and
paperboard and of containers of paper and paperboard |
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NAICS 2002: |
322211 - Corrugated and Solid Fiber Box
Manufacturing |
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2121 - Manufacture of corrugated paper and
paperboard and of containers of paper and paperboard |
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US SIC 1987: |
2656 - Sanitary Food Containers, Except
Folding |
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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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
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Flexible Packaging Investments SARL |
Parent |
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Subsidiary |
Cesano Maderno, |
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Containers and Packaging |
68.9 |
111 |
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 |
74.9 |
61.0 |
73.8 |
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Net sales |
68.9 |
59.6 |
67.8 |
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Other operating income |
4.5 |
4.1 |
4.0 |
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Raw materials and consumables employed |
44.6 |
35.5 |
47.8 |
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Other expenses |
4.9 |
5.1 |
5.4 |
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Total payroll costs |
9.8 |
10.3 |
11.0 |
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Fixed asset depreciation and amortisation |
2.6 |
2.8 |
4.8 |
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Other operating costs |
0.2 |
0.2 |
0.2 |
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Net operating income |
12.9 |
7.1 |
4.6 |
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Total financial income |
-0.2 |
0.1 |
0.6 |
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Total expenses |
0.7 |
1.2 |
2.3 |
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Profit before tax |
12.0 |
6.0 |
2.8 |
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Extraordinary result |
-0.3 |
0.9 |
-1.1 |
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Profit after extraordinary items and before tax |
11.7 |
6.9 |
1.7 |
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Total taxation |
0.6 |
0.4 |
0.4 |
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Net profit |
11.1 |
6.5 |
1.3 |
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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 |
45.8 |
36.9 |
29.3 |
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Provision for risks |
0.2 |
0.3 |
1.5 |
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Provision for pensions |
4.0 |
4.3 |
4.2 |
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Mortgages and loans |
17.5 |
33.5 |
36.7 |
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Trade creditors |
5.7 |
5.3 |
5.0 |
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Bank loans and overdrafts |
2.0 |
5.3 |
- |
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Other current liabilities |
3.1 |
3.5 |
3.3 |
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Accruals and deferred income |
0.8 |
0.9 |
1.0 |
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Total current liabilities |
11.6 |
15.0 |
9.3 |
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Total liabilities (including net worth) |
79.1 |
90.1 |
80.9 |
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Intangibles |
0.2 |
0.3 |
0.4 |
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Buildings |
11.5 |
12.5 |
12.4 |
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Total tangible fixed assets |
41.2 |
46.3 |
46.9 |
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Long-term investments |
0.0 |
0.0 |
0.0 |
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Total financial assets |
0.0 |
0.0 |
0.0 |
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Receivables due after 1 year |
3.6 |
3.9 |
4.7 |
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Total non-current assets |
45.0 |
50.5 |
52.0 |
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Finished goods |
4.2 |
2.9 |
5.5 |
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Net stocks and work in progress |
8.8 |
6.0 |
9.1 |
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Trade debtors |
10.4 |
11.9 |
12.2 |
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Other receivables |
0.3 |
1.2 |
0.3 |
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Cash and liquid assets |
14.6 |
20.5 |
7.2 |
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Marketable securities |
- |
- |
0.1 |
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Accruals |
0.0 |
0.0 |
0.0 |
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Total current assets |
34.1 |
39.6 |
28.9 |
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Total assets |
79.1 |
90.1 |
80.9 |
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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 |
2.90 |
2.60 |
3.10 |
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Quick ratio |
2.20 |
2.20 |
2.10 |
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Current liabilities to net worth |
0.00% |
0.00% |
0.00% |
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Sales per employee |
0.48 |
0.39 |
0.26 |
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Profit per employee |
0.08 |
0.04 |
0.01 |
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Average wage per employee |
0.07 |
0.07 |
0.04 |
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Net worth |
45.8 |
36.9 |
29.3 |
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Number of employees |
108 |
111 |
111 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.56.99 |
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1 |
Rs.88.97 |
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Euro |
1 |
Rs.71.57 |
INFORMATION DETAILS
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Report Prepared
by : |
PRL |
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.