MIRA
INFORM REPORT
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Report Date : |
26.09.2012 |
IDENTIFICATION DETAILS
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Name : |
PIGO SRL |
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Registered Office : |
Via Pontaron 30, Caldogno, 36030 |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
14.11.2006 |
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Com. Reg. No.: |
03352330249 |
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Legal Form : |
Private Independent |
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Line of Business : |
Specialised Machinery And Equipment Manufacturing |
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No. of Employees : |
17 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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
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Pigo SRL |
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Employees: |
17 |
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Company Type: |
Private Independent |
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Incorporation
Date: |
14-Nov-2006 |
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Fiscal Year End: |
31-Dec-2010 |
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Reporting
Currency: |
Euro |
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Annual Sales: |
2.9 |
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Total Assets: |
1.4 |
Business Description
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Pigo SRL is primarily engaged in manufacture of agricultural dryers; manufacture
of machinery for the dairy industry (cream separators; milk processing
machinery (homogenisers and irradiators); milk converting machinery (butter
churns, butter workers and moulding machines); cheese-making machines
(homogenisers, moulders, presses, etc.); manufacture of machinery for the
grain milling industry (winnowers, sieving belts, cyclone separators,
aspirator separators, grain brushing machines and the like; grinding mills,
“breading†rolls or mills,
feeders, sifters, bran cleaners, blenders, rice hullers, pea splitters);
manufacture of presses, crushers, etc. used to make wine, cider, fruit
juices, etc.; manufacture of machinery for the bakery industry or for making
macaroni, spaghetti or similar products (manufacture of non-electric bakery
ovens, dough mixers, dough-dividers, moulders, slicers, cake depositing
machines, etc.); manufacture of machines and equipment to process diverse
food (machinery to make confectionery, cocoa or chocolate; to manufacture
sugar; for breweries; to process meat or poultry; to prepare fruit, nuts or
vegetables; to prepare fish, shell fish or other sea-food; other machinery
for the industrial preparation or manufacture of food or drink; manufacture
of machinery for the extraction or preparation of animal or vegetable fats or
oils; manufacture of machinery for the preparation of tobacco and for the
making of cigarettes or cigars, or for pipe or chewing tobacco or snuff; and
manufacture of machinery for the preparation of food in hotels and
restaurants. |
Industry
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Industry |
Miscellaneous Capital Goods |
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ANZSIC 2006: |
2469 - Other Specialised Machinery and
Equipment Manufacturing |
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NACE 2002: |
2953 - Manufacture of machinery for food,
beverage and tobacco processing |
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NAICS 2002: |
333294 - Food Product Machinery
Manufacturing |
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UK SIC 2003: |
2953 - Manufacture of machinery for food,
beverage and tobacco processing |
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US SIC 1987: |
3556 - Food Products Machinery |
Key Executives
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Registered No.(ITA)
03352330249
Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7550783
Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7454064
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Sales EUR(mil): |
2.2 |
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Assets EUR(mil): |
1.0 |
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Employees: |
17 |
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Fiscal Year End: |
31-Dec-2010 |
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Industry: |
Miscellaneous
Capital Goods |
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Incorporation Date: |
14-Nov-2006 |
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Company Type: |
Private
Independent |
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Quoted Status: |
Not Quoted |
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Registered No.(ITA): |
03352330249 |
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Managing director: |
Gorana Obradovic |
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Annual profit
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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 |
2.9 |
0.5 |
0.9 |
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Net sales |
2.9 |
0.5 |
0.9 |
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Other operating income |
0.0 |
0.0 |
- |
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Raw materials and consumables employed |
2.0 |
0.4 |
0.6 |
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Other expenses |
0.9 |
0.1 |
0.2 |
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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 |
0.1 |
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Net operating income |
0.1 |
0.0 |
0.0 |
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Profit before tax |
0.1 |
0.0 |
0.0 |
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Profit after extraordinary items and before tax |
0.1 |
0.0 |
0.0 |
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Total taxation |
0.0 |
0.0 |
0.0 |
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Net profit |
0.0 |
0.0 |
0.0 |
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 |
0.1 |
0.0 |
0.0 |
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Other long-term liabilities |
0.1 |
0.1 |
- |
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Trade creditors |
1.2 |
1.0 |
- |
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Bank loans and overdrafts |
0.0 |
0.0 |
- |
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Other current liabilities |
0.1 |
0.0 |
0.5 |
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Total current liabilities |
1.2 |
1.0 |
0.5 |
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Total liabilities (including net worth) |
1.4 |
1.2 |
0.5 |
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Intangibles |
0.0 |
0.0 |
0.0 |
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Total tangible fixed assets |
0.1 |
0.0 |
- |
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Total financial assets |
0.0 |
- |
- |
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Receivables due after 1 year |
- |
0.0 |
- |
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Total non-current assets |
0.1 |
0.1 |
0.0 |
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Net stocks and work in progress |
0.1 |
0.5 |
0.0 |
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Trade debtors |
1.0 |
0.5 |
- |
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Other receivables |
0.1 |
0.1 |
0.5 |
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Cash and liquid assets |
0.0 |
0.0 |
0.0 |
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Accruals |
0.0 |
0.0 |
- |
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Total current assets |
1.3 |
1.1 |
0.5 |
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Total assets |
1.4 |
1.2 |
0.5 |
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 |
1.10 |
1.00 |
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Quick ratio |
0.90 |
0.60 |
1.00 |
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Current liabilities to net worth |
0.19% |
0.33% |
0.29% |
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Net worth |
0.1 |
0.0 |
0.0 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.53.53 |
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1 |
Rs.86.82 |
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Euro |
1 |
Rs.69.02 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.