MIRA
INFORM REPORT
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Report Date : |
10.03.2012 |
IDENTIFICATION DETAILS
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Name : |
ARAN WORLD SRL |
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Registered Office : |
Zona Industriale Snc Casoli Atri, 64032 |
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Country : |
Italy |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
16.02.2001 |
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Com. Reg. No.: |
01444880676 |
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Legal Form : |
Private Independent |
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Line of Business : |
Manufacture of furniture for bedrooms, living rooms, gardens, etc |
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No. of Employees : |
297 |
RATING & COMMENTS
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MIRAs Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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
Aran World SRL
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Business
Description
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Aran World SRL is primarily engaged in manufacture of furniture for
bedrooms, living rooms, gardens, etc. This class also includes: finishing of
furniture such as spraying, painting, French polishing and upholstering
except of chairs and seats. |
Industry
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Industry |
Furniture and Fixtures |
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ANZSIC 2006: |
2519 - Other Furniture Manufacturing |
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NACE 2002: |
3614 - Manufacture of other furniture |
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NAICS 2002: |
33712 - Household and Institutional
Furniture Manufacturing |
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UK SIC 2003: |
3614 - Manufacture of other furniture |
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US SIC 1987: |
2511 - Wood Household Furniture, Except
Upholstered |
Key Executives
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News
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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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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 |
99.8 |
104.2 |
131.6 |
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Net sales |
97.2 |
102.3 |
125.6 |
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Other operating income |
1.7 |
2.3 |
2.4 |
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Raw materials and consumables employed |
50.6 |
52.1 |
63.7 |
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Other expenses |
24.8 |
27.6 |
38.4 |
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Total payroll costs |
12.2 |
12.7 |
13.2 |
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Fixed asset depreciation and amortisation |
12.3 |
13.2 |
15.1 |
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Other operating costs |
4.1 |
3.1 |
1.8 |
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Net operating income |
-4.3 |
-4.3 |
-0.6 |
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Total financial income |
0.3 |
0.4 |
1.6 |
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Total expenses |
1.1 |
1.9 |
3.6 |
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Profit before tax |
-5.1 |
-5.8 |
-2.6 |
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Extraordinary result |
-0.3 |
0.0 |
0.0 |
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Profit after extraordinary items and before tax |
-5.4 |
-5.8 |
-2.6 |
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Total taxation |
0.2 |
-1.4 |
-0.7 |
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Net loss |
5.6 |
4.4 |
2.0 |
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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 |
24.9 |
32.7 |
36.0 |
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Provision for risks |
2.6 |
3.2 |
2.9 |
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Provision for pensions |
2.3 |
2.5 |
2.6 |
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Mortgages and loans |
25.4 |
11.4 |
37.4 |
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Other long-term liabilities |
2.7 |
2.9 |
3.0 |
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Trade creditors |
16.5 |
21.1 |
25.8 |
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Bank loans and overdrafts |
5.3 |
27.2 |
5.5 |
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Other current liabilities |
3.1 |
3.8 |
4.1 |
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Accruals and deferred income |
0.2 |
0.2 |
0.6 |
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Total current liabilities |
25.2 |
52.4 |
36.0 |
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Total liabilities (including net worth) |
83.0 |
105.0 |
117.9 |
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Intangibles |
4.9 |
14.5 |
23.0 |
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Buildings |
3.0 |
0.1 |
0.1 |
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Total tangible fixed assets |
5.2 |
4.4 |
6.0 |
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Long-term investments |
0.5 |
0.6 |
0.4 |
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Total financial assets |
1.8 |
1.7 |
0.4 |
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Receivables due after 1 year |
6.1 |
6.2 |
4.2 |
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Loans to associated companies |
0.2 |
- |
- |
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Total non-current assets |
18.0 |
26.8 |
33.6 |
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Finished goods |
11.2 |
10.3 |
10.7 |
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Net stocks and work in progress |
14.2 |
13.6 |
14.1 |
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Trade debtors |
33.8 |
40.8 |
39.6 |
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Other receivables |
4.7 |
6.3 |
6.0 |
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Cash and liquid assets |
11.9 |
16.7 |
23.7 |
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Accruals |
0.4 |
0.9 |
0.9 |
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Total current assets |
65.0 |
78.2 |
84.3 |
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Total assets |
83.0 |
105.0 |
117.9 |
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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 |
2.60 |
1.50 |
2.30 |
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Quick ratio |
2.00 |
1.20 |
1.90 |
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Current liabilities to net worth |
0.01% |
0.02% |
0.01% |
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Sales per employee |
0.25 |
0.25 |
0.57 |
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Profit per employee |
-0.01 |
-0.01 |
-0.01 |
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Average wage per employee |
0.03 |
0.03 |
0.06 |
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Net worth |
24.9 |
32.7 |
36.0 |
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Number of employees |
298 |
297 |
303 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.50.02 |
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1 |
Rs.79.01 |
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Euro |
1 |
Rs.66.18 |
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 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.