MIRA
INFORM REPORT
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Report Date : |
27.10.2012 |
IDENTIFICATION DETAILS
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Name : |
MANIFATTURE BONZAGNI M.B. SRL |
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Registered Office : |
Via Statale 343, Dosso, Sant'agostino, 44047 |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
21.11.1969 |
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Com. Reg. No.: |
00052340387 |
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Legal Form : |
Private Independent Company |
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Line of Business : |
Subject is engaged in bleaching, dyeing and printing (including
thermo-printing) of not self-produced textiles fibres, yarns, fabrics and
textile articles |
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No. of Employees : |
42 employees |
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 (31.03.2012) |
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.
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Source : CIA |
Company name & address
Manifatture Bonzagni M.B. SRL
Via Statale 343
Dosso
Sant'agostino, 44047
Italy
Tel: +39 0532 848005
Fax: +39 0532 848006
Synthesis
Employees: 42
Company Type: Private Independent
Incorporation Date:
21-Nov-1969
Financials in: USD
(Millions)
Fiscal Year End:
31-Dec-2011
Reporting Currency: Euro
Annual Sales: 17.2
Total Assets: 27.8
Business Description
Manifatture Bonzagni M.B. SRL is primarily engaged in bleaching, dyeing and printing (including thermo-printing) of not self-produced textiles fibres, yarns, fabrics and textile articles, including wearing apparel; and dressing, drying, steaming, shrinking, sanforising, mercerising of not self-produced textiles and textile articles including wearing apparel. This class also includes: finishing of leather wearing apparel; bleaching of jeans; and pleating and similar work on textiles.
Industry
Industry Apparel and Accessories
ANZSIC 2006: 1334 - Textile
Finishing and Other Textile Product Manufacturing
NACE 2002: 1730 - Finishing
of textiles
NAICS 2002: 313312 - Textile
and Fabric Finishing (except Broadwoven Fabric) Mills
UK SIC 2003: 1730 - Finishing
of textiles
UK SIC 2007: 1330 - Finishing
of textiles
US SIC 1987: 2269 - Finishers
of Textiles, Not Elsewhere Classified
Key Executives
Name Title
Giancarlo Bonzagni President
Alessandra Bonzagni Member of
the board
1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7191895
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.770327
Corporate Overview
Location
Via Statale 343
Dosso
Sant'agostino, 44047
Italy
Tel: +39 0532 848005
Fax: +39 0532 848006
Sales EUR(mil): 12.4
Assets EUR(mil): 21.4
Employees: 42
Fiscal Year End: 31-Dec-2011
Industry: Apparel and Accessories
Incorporation Date: 21-Nov-1969
Company Type: Private Independent
Quoted Status: Not Quoted
Registered No.(ITA): 00052340387
President: Giancarlo Bonzagni
Contents
Industry Codes
Business Description
Financial Data
Key Corporate Relationships
Industry Codes
ANZSIC 2006 Codes:
1334 - Textile Finishing and Other Textile Product Manufacturing
1919 - Other Polymer Product Manufacturing
133 - Textile Product Manufacturing
NACE 2002 Codes:
1730 - Finishing of textiles
2524 - Manufacture of other plastic products
1740 - Manufacture of made-up textile articles, except apparel
NAICS 2002 Codes:
313312 - Textile and Fabric Finishing (except Broadwoven Fabric)
Mills
32619 - Other Plastics Product Manufacturing
313 - Textile Mills
US SIC 1987:
2269 - Finishers of Textiles, Not Elsewhere Classified
239 - Miscellaneous Fabricated Textile Products
3089 - Plastics Products, Not Elsewhere Classified
UK SIC 2003:
1730 - Finishing of textiles
1740 - Manufacture of made-up textile articles, except apparel
2524 - Manufacture of other plastic products
UK SIC 2007:
1330 - Finishing of textiles
2229 - Manufacture of other plastic products
1392 - Manufacture of made-up textile articles, except apparel
Business
Description
Manifatture
Bonzagni M.B. SRL is primarily engaged in bleaching, dyeing and printing
(including thermo-printing) of not self-produced textiles fibres, yarns,
fabrics and textile articles, including wearing apparel; and dressing, drying,
steaming, shrinking, sanforising, mercerising of not self-produced textiles and
textile articles including wearing apparel. This class also includes: finishing
of leather wearing apparel; bleaching of jeans; and pleating and similar work
on textiles.
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Executive report
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Board
of Directors |
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Member of the board |
Director/Board Member |
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Executives |
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President |
President |
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Managing director |
Managing Director |
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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 |
18.2 |
14.1 |
11.5 |
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Net sales |
17.2 |
13.4 |
12.0 |
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Other operating income |
0.1 |
0.1 |
0.0 |
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Raw materials and consumables employed |
12.6 |
8.9 |
6.6 |
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Other expenses |
2.4 |
2.2 |
1.9 |
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Total payroll costs |
2.0 |
2.2 |
1.8 |
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Fixed asset depreciation and amortisation |
0.2 |
0.2 |
0.3 |
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Other operating costs |
0.4 |
0.3 |
0.3 |
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Net operating
income |
0.6 |
0.4 |
0.6 |
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Total financial
income |
0.1 |
-0.1 |
0.1 |
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Total expenses |
0.5 |
0.5 |
0.5 |
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Profit before tax |
0.1 |
-0.2 |
0.1 |
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Extraordinary result |
0.0 |
0.3 |
0.0 |
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Profit after extraordinary items and
before tax |
0.2 |
0.1 |
0.1 |
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Total taxation |
0.1 |
0.1 |
0.1 |
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Net profit |
0.0 |
0.0 |
0.0 |
Annual Balance
Sheet
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 |
7.0 |
7.2 |
7.7 |
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Provision for risks |
2.0 |
2.1 |
2.4 |
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Provision for pensions |
0.5 |
0.5 |
0.6 |
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Mortgages and loans |
4.0 |
4.4 |
2.4 |
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Other long-term liabilities |
1.3 |
1.3 |
0.2 |
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Trade creditors |
3.0 |
2.9 |
2.9 |
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Bank loans and overdrafts |
8.5 |
7.2 |
7.3 |
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Other current liabilities |
1.3 |
1.3 |
2.4 |
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Accruals and deferred income |
0.3 |
0.1 |
0.0 |
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Total current
liabilities |
13.1 |
11.5 |
12.6 |
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Total
liabilities (including net worth) |
27.8 |
27.0 |
25.9 |
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Intangibles |
0.2 |
0.1 |
0.2 |
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Buildings |
8.3 |
8.5 |
9.1 |
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Total tangible
fixed assets |
9.5 |
9.9 |
10.6 |
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Long-term investments |
0.5 |
0.5 |
0.0 |
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Total financial
assets |
0.5 |
0.5 |
0.0 |
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Receivables due after 1 year |
- |
0.5 |
0.1 |
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Loans to associated companies |
- |
0.0 |
- |
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Total
non-current assets |
10.2 |
11.0 |
10.9 |
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Finished goods |
4.8 |
4.0 |
3.6 |
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Net stocks and work in progress |
5.4 |
5.1 |
5.0 |
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Trade debtors |
10.7 |
9.3 |
9.0 |
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Other receivables |
1.3 |
1.3 |
0.7 |
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Cash and liquid assets |
0.0 |
0.1 |
0.0 |
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Accruals |
0.1 |
0.1 |
0.2 |
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Total current
assets |
17.6 |
15.9 |
15.0 |
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Total assets |
27.8 |
27.0 |
25.9 |
Annual Ratios
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 |
1.30 |
1.40 |
1.20 |
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Quick ratio |
0.90 |
0.90 |
0.80 |
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Current liabilities to net worth |
0.02% |
0.02% |
0.02% |
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Sales per employee |
0.29 |
0.24 |
0.18 |
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Profit per employee |
0.00 |
0.00 |
0.00 |
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Average wage per employee |
0.03 |
0.04 |
0.03 |
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Net worth |
7.0 |
7.2 |
7.7 |
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Number of employees |
42 |
43 |
49 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.53.63 |
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UK Pound |
1 |
Rs.86.18 |
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Euro |
1 |
Rs.69.75 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.