MIRA
INFORM REPORT
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Report Date : |
16.10.2012 |
IDENTIFICATION DETAILS
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Name : |
PULIMETAL CITTADINI SRL |
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Registered Office : |
Via Sebina 8 Provaglio D'Iseo, 25050 |
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Country : |
Italy |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
27.02.1995 |
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Com. Reg. No.: |
03311660173 |
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Legal Form : |
Private Independent |
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Line of Business : |
Manufacture of machinery for mining, quarrying and construction |
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No. of Employees : |
10 |
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RATING & COMMENTS
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MIRA’s 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 – June 30th, 2012
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Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
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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 |
ITALY - ECONOMIC OVERVIEW
Italy has a diversified industrial
economy, which is divided into a developed industrial north, dominated by
private companies, and a less-developed, welfare-dependent, agricultural south,
with high unemployment. The Italian economy is driven in large part by the
manufacture of high-quality consumer goods produced by small and medium-sized
enterprises, many of them family owned. Italy also has a sizable underground
economy, which by some estimates accounts for as much as 17% of GDP. These
activities are most common within the agriculture, construction, and service
sectors. Italy is the third-largest economy in the euro-zone, but exceptionally
high public debt burdens and structural impediments to growth have rendered it
vulnerable to scrutiny by financial markets. Public debt has increased steadily
since 2007, reaching 120% of GDP in 2011, and borrowing costs on sovereign
government debt have risen to record levels. During the second half of 2011 the
government passed a series of three austerity packages to balance its budget by
2013 and decrease its public debt burden. These measures included a hike in the
value-added tax, pension reforms, and cuts to public administration. The
government also faces pressure from investors and European partners to address
Italy's long-standing structural impediments to growth, such as an inflexible
labor market and widespread tax evasion. The international financial crisis
worsened conditions in Italy''s labor market, with unemployment rising from
6.2% in 2007 to 8.4% in 2011, but in the longer-term Italy''s low fertility
rate and quota-driven immigration policies will increasingly strain its
economy. The euro-zone crisis along with Italian austerity measures have
reduced exports and domestic demand, slowing Italy''s recovery. Italy''s GDP is
still 5% below its 2007 pre-crisis level.
Source
: CIA
Company name and address
Pulimetal Cittadini SRL
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Business
Description
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Pulimetal Cittadini SRL is primarily engaged in manufacture of
machinery for mining; manufacture of earth-moving equipment;and manufacture of
equipment for concrete crushing and screening and roadworks. |
Industry
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Industry |
Construction and Agriculture Machinery |
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ANZSIC 2006: |
2462 - Mining and Construction Machinery
Manufacturing |
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NACE 2002: |
2952 - Manufacture of machinery for
mining, quarrying and construction |
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NAICS 2002: |
3331 - Agriculture, Construction, and
Mining Machinery Manufacturing |
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UK SIC 2003: |
2952 - Manufacture of machinery for
mining, quarrying and construction |
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UK SIC 2007: |
2892 - Manufacture of machinery for
mining, quarrying and construction |
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US SIC 1987: |
3532 - Mining Machinery and Equipment,
Except Oil and Gas Field Machinery and Equipment |
Key Executives
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1 - Profit &
Loss Item Exchange Rate: USD 1 = EUR 0.7191895
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.770327
Corporate Overview
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Executives Report
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Annual Profit & Loss
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31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
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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) |
0.71919 |
0.755078 |
0.719047 |
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Consolidated |
No |
No |
No |
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Total income |
8.3 |
3.2 |
3.4 |
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Net sales |
8.2 |
3.1 |
3.4 |
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Other operating income |
0.2 |
0.1 |
0.1 |
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Raw materials and consumables employed |
6.2 |
1.4 |
1.9 |
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Other expenses |
1.3 |
1.1 |
1.0 |
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Total payroll costs |
0.6 |
0.5 |
0.4 |
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Fixed asset depreciation and amortisation |
0.0 |
0.0 |
0.0 |
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Other operating costs |
0.0 |
0.0 |
0.0 |
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Net operating income |
0.2 |
0.1 |
0.1 |
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Total financial income |
0.0 |
0.0 |
- |
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Total expenses |
0.1 |
0.1 |
0.1 |
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Profit before tax |
0.1 |
0.1 |
0.0 |
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Profit after extraordinary items and before tax |
0.1 |
0.1 |
0.0 |
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Total taxation |
0.1 |
0.0 |
0.0 |
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Net profit |
0.0 |
0.0 |
0.0 |
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Annual Balance
Sheet |
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Financials in: USD
(mil) |
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31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate |
0.770327 |
0.745406 |
0.696986 |
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Consolidated |
No |
No |
No |
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Total stockholders equity |
0.2 |
0.2 |
0.2 |
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Provision for pensions |
0.1 |
0.1 |
0.2 |
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Mortgages and loans |
0.9 |
1.3 |
1.5 |
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Other long-term liabilities |
0.0 |
0.0 |
-0.3 |
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Trade creditors |
1.8 |
0.9 |
0.6 |
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Advances received |
0.8 |
0.5 |
- |
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Bank loans and overdrafts |
1.2 |
0.7 |
0.5 |
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Other current liabilities |
0.2 |
0.2 |
0.6 |
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Accruals and deferred income |
0.2 |
0.4 |
0.3 |
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Total current liabilities |
4.2 |
2.8 |
1.9 |
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Total liabilities (including net worth) |
5.5 |
4.5 |
3.4 |
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Intangibles |
0.0 |
0.0 |
0.0 |
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Total tangible fixed assets |
1.1 |
1.1 |
1.1 |
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Total financial assets |
0.1 |
0.0 |
- |
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Receivables due after 1 year |
0.0 |
0.0 |
0.0 |
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Total non-current assets |
1.2 |
1.2 |
1.2 |
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Net stocks and work in progress |
1.3 |
1.7 |
0.8 |
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Trade debtors |
2.2 |
1.1 |
- |
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Other receivables |
0.3 |
0.1 |
1.3 |
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Cash and liquid assets |
0.2 |
0.1 |
0.0 |
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Accruals |
0.3 |
0.4 |
0.1 |
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Total current assets |
4.3 |
3.4 |
2.2 |
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Total assets |
5.5 |
4.5 |
3.4 |
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Annual Ratios |
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Financials in:
USD (mil) |
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31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
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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 |
0.770327 |
0.745406 |
0.696986 |
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Consolidated |
No |
No |
No |
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Current ratio |
1.00 |
1.20 |
1.20 |
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Quick ratio |
0.70 |
0.60 |
0.70 |
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Current liabilities to net worth |
0.20% |
0.13% |
0.09% |
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Sales per employee |
- |
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0.35 |
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Average wage per employee |
- |
- |
0.04 |
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Net worth |
0.2 |
0.2 |
0.2 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.53.12 |
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1 |
Rs.85.14 |
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Euro |
1 |
Rs.68.60 |
INFORMATION DETAILS
|
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.