MIRA INFORM REPORT
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Report Date : |
25.09.2012 |
IDENTIFICATION DETAILS
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Name : |
GROTTO SPA |
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Registered Office : |
Via Ponte Dei Granatieri 4 Chiuppano, 36010 |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
16.12.1982 |
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Com. Reg. No.: |
01516660246 |
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Legal Form : |
Public Subsidiary |
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Line of Business : |
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No. of Employees : |
187 |
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 : |
Slow |
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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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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 |
Source
: CIA
Company name and address
Grotto SpA
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Business
Description
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Grotto SpA is primarily engaged in manufacture of other men’s
outerwear; and manufacture of other women’s outerwear. |
Industry
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Industry |
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ANZSIC 2006: |
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NACE 2002: |
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NAICS 2002: |
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UK SIC 2003: |
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UK SIC 2007: |
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US SIC 1987: |
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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Corporate Structure News:
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Grotto SpA |
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
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LUNA SRL |
Parent |
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Subsidiary |
Chiuppano, Vicenza |
Italy |
Apparel and Accessories |
102.7 |
187 |
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Subsidiary |
Budapest |
Hungary |
Apparel and Accessories |
8.7 |
117 |
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Subsidiary |
Chiuppano, Vicenza |
Italy |
Apparel and Accessories |
12.9 |
48 |
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Subsidiary |
Köln, Nordrhein-Westfalen |
Germany |
Apparel and Accessories |
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35 |
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 |
106.3 |
127.0 |
153.7 |
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Net sales |
102.7 |
126.7 |
155.4 |
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Other operating income |
2.4 |
2.7 |
2.9 |
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Raw materials and consumables employed |
48.4 |
50.7 |
60.7 |
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Other expenses |
45.9 |
50.5 |
65.6 |
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Total payroll costs |
12.3 |
14.1 |
19.1 |
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Fixed asset depreciation and amortisation |
6.9 |
9.2 |
9.3 |
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Other operating costs |
0.7 |
0.9 |
1.0 |
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Net operating income |
-8.0 |
1.7 |
-2.0 |
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Total financial income |
6.6 |
3.2 |
3.9 |
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Total expenses |
1.6 |
2.3 |
5.6 |
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Profit before tax |
-3.1 |
2.6 |
-3.7 |
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Extraordinary result |
-27.8 |
-5.3 |
-6.0 |
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Profit after extraordinary items and before tax |
-30.9 |
-2.7 |
-9.7 |
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Total taxation |
-0.9 |
1.7 |
0.5 |
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Net loss |
30.0 |
4.3 |
10.2 |
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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 |
14.4 |
46.5 |
49.4 |
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Provision for risks |
42.3 |
32.8 |
31.5 |
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Provision for pensions |
1.2 |
1.6 |
2.1 |
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Mortgages and loans |
1.3 |
61.4 |
3.3 |
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Other long-term liabilities |
4.3 |
- |
0.3 |
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Trade creditors |
27.2 |
26.3 |
25.2 |
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Bank loans and overdrafts |
67.3 |
11.4 |
69.9 |
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Other current liabilities |
5.6 |
4.0 |
11.0 |
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Accruals and deferred income |
0.3 |
- |
0.0 |
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Total current liabilities |
100.4 |
41.8 |
106.1 |
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Total liabilities (including net worth) |
163.8 |
184.1 |
192.7 |
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Intangibles |
2.4 |
3.3 |
7.4 |
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Buildings |
27.0 |
29.2 |
28.9 |
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Total tangible fixed assets |
29.8 |
33.3 |
33.7 |
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Long-term investments |
7.3 |
5.7 |
2.8 |
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Total financial assets |
23.1 |
22.5 |
20.1 |
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Receivables due after 1 year |
10.7 |
11.7 |
11.7 |
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Loans to associated companies |
15.8 |
16.8 |
17.4 |
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Total non-current assets |
66.0 |
70.8 |
73.0 |
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Finished goods |
22.2 |
22.5 |
24.3 |
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Net stocks and work in progress |
25.1 |
25.2 |
28.3 |
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Trade debtors |
33.4 |
42.9 |
45.5 |
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Other receivables |
36.5 |
36.2 |
34.4 |
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Cash and liquid assets |
2.4 |
8.6 |
10.9 |
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Marketable securities |
- |
- |
0.1 |
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Accruals |
0.3 |
0.4 |
0.5 |
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Total current assets |
97.8 |
113.3 |
119.7 |
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Total assets |
163.8 |
184.1 |
192.7 |
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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 |
1.00 |
2.70 |
1.10 |
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Quick ratio |
0.70 |
2.10 |
0.90 |
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Current liabilities to net worth |
0.07% |
0.01% |
0.02% |
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Sales per employee |
0.35 |
0.37 |
0.37 |
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Profit per employee |
-0.11 |
-0.01 |
-0.02 |
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Average wage per employee |
0.04 |
0.04 |
0.04 |
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Net worth |
14.4 |
46.5 |
49.4 |
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Number of employees |
221 |
248 |
317 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.53.29 |
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1 |
Rs.86.43 |
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Euro |
1 |
Rs.68.95 |
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.