MIRA INFORM
REPORT
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Report Date : |
27.08.2013 |
IDENTIFICATION DETAILS
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Name : |
MUSSARI SRL
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Registered Office : |
Via Repubblica 11/B, Lurate Caccivio, 22075 |
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Country : |
Italy |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
29.03.1990 |
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Com. Reg. No.: |
01879680138 |
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Legal Form : |
Private Independent |
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Line of Business : |
·
production
of chrome, manganese, nickel from ores or oxides ·
production
of chrome, manganese, nickel from electrolytic and aluminothermic refining of
chrome, manganese, nickel waste and scrap ·
production
of chrome, manganese, nickel alloys; and semi-manufacturing of chrome,
manganese, nickel. |
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No. of Employees : |
49 |
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 but Correct |
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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 – March 31st 2013
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Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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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, highly subsidized, agricultural south, where unemployment is high. 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 its exceptionally high public debt and structural impediments to growth have rendered it vulnerable to scrutiny by financial markets. Public debt has increased steadily since 2007, topping 126% of GDP in 2012, and investor concerns about the broader euro-zone crisis at times have caused borrowing costs on sovereign government debt to rise to euro-era. During the second half of 2011 the government passed three austerity packages to reduce its budget deficit and help bring down borrowing costs. 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 sustain its recent efforts to address Italy's long-standing structural impediments to growth, such as labor market inefficiencies and widespread tax evasion. In 2012 economic growth and labor market conditions deteriorated, with growth at -2.3% and unemployment rising to nearly 11%, with youth unemployment around 35%. The government has undertaken several reform initiatives designed to increase long-term economic growth. Italy's GDP is now 7% below its 2007 pre-crisis level.
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Source : CIA |
Company name & address
Mussari SRL
Via Repubblica 11/B
Lurate Caccivio, 22075
Italy
Tel:
+39 0313 90677
Fax: +39
0313 90010
Synthesis
Employees:
49
Company Type:
Private Independent
Incorporation Date:
29-Mar-1990
Financials in: USD
(Millions)
Fiscal Year End:
31-Dec-2011
Reporting Currency:
Euro
Annual Sales:
18.3
Total Assets:
22.8
Business
Description
Mussari SRL is
primarily engaged in production of chrome, manganese, nickel from ores or
oxides; production of chrome, manganese, nickel from electrolytic and
aluminothermic refining of chrome, manganese, nickel., waste and scrap;
production of chrome, manganese, nickel, alloys; and semi-manufacturing of
chrome, manganese, nickel, . This class also includes: production of mattes of
nickel.
Industry
Industry Metal Products
Manufacturing
ANZSIC 2006:
2139 - Other Basic Non-Ferrous Metal Manufacturing
ISIC Rev 4:
2420 - Manufacture of basic precious and other non-ferrous metals
NACE Rev 2:
2445 - Other non-ferrous metal production
NAICS 2012:
331491 - Nonferrous Metal (except Copper and Aluminum) Rolling, Drawing, and
Extruding
UK SIC 2007:
2445 - Other non-ferrous metal production
US SIC 1987:
3357 - Drawing and Insulating of Nonferrous Wire
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
Location
Via Repubblica 11/B
Lurate Caccivio, 22075
Italy
Tel: +39
0313 90677
Fax: +39
0313 90010
Sales EUR(mil): 13.2
Assets EUR(mil): 17.6
Employees: 49
Fiscal Year End: 31-Dec-2011
Industry: Metal Mining
Incorporation Date: 29-Mar-1990
Company Type: Private Independent
Quoted Status: Not Quoted
Registered No.(ITA): 01879680138
President: Silvana Borgonovo
Industry Codes
ANZSIC 2006 Codes:
2139 - Other Basic Non-Ferrous Metal
Manufacturing
2291 - Spring and Wire Product Manufacturing
ISIC Rev 4 Codes:
2420 - Manufacture of basic precious and
other non-ferrous metals
2410 - Manufacture of basic iron and steel
NACE Rev 2 Codes:
2445 - Other non-ferrous metal production
2434 - Cold drawing of wire
NAICS 2012 Codes:
331491 - Nonferrous Metal (except Copper and
Aluminum) Rolling, Drawing, and Extruding
331222 - Steel Wire Drawing
US SIC 1987:
3357 - Drawing and Insulating of Nonferrous
Wire
3315 - Steel Wiredrawing and Steel Nails and
Spikes
UK SIC 2007:
2445 - Other non-ferrous metal production
2434 - Cold drawing of wire
Business Description
Mussari SRL is
primarily engaged in production of chrome, manganese, nickel from ores or
oxides; production of chrome, manganese, nickel from electrolytic and
aluminothermic refining of chrome, manganese, nickel., waste and scrap;
production of chrome, manganese, nickel, alloys; and semi-manufacturing of
chrome, manganese, nickel, . This class also includes: production of mattes of
nickel.
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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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Member of the board |
Director/Board Member |
D |
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Executives |
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President |
President |
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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 |
18.1 |
14.8 |
12.2 |
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Net sales |
18.3 |
14.8 |
12.5 |
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Other operating income |
0.5 |
0.0 |
0.1 |
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Raw materials and consumables employed |
10.8 |
8.7 |
8.1 |
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Other expenses |
1.6 |
1.2 |
1.1 |
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Total payroll costs |
3.6 |
3.1 |
3.0 |
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Fixed asset depreciation and amortisation |
0.9 |
0.8 |
0.6 |
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Other operating costs |
0.2 |
0.4 |
0.3 |
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Net operating
income |
1.2 |
0.7 |
-1.0 |
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Total financial
income |
0.0 |
0.0 |
- |
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Total expenses |
0.8 |
0.7 |
0.7 |
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Profit before tax |
0.4 |
0.0 |
-1.7 |
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Extraordinary result |
-0.1 |
0.2 |
0.1 |
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Profit after extraordinary items and
before tax |
0.3 |
0.2 |
-1.5 |
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Total taxation |
0.2 |
0.1 |
0.1 |
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Net profit |
0.1 |
0.1 |
- |
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Net loss |
- |
- |
1.6 |
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 |
1.6 |
0.5 |
-1.2 |
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Provision for pensions |
0.7 |
0.6 |
0.6 |
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Mortgages and loans |
9.5 |
10.7 |
10.0 |
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Other long-term liabilities |
- |
1.1 |
2.8 |
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Trade creditors |
5.4 |
7.0 |
6.7 |
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Bank loans and overdrafts |
5.2 |
5.6 |
5.0 |
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Other current liabilities |
0.4 |
0.3 |
0.2 |
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Accruals and deferred income |
0.0 |
0.0 |
- |
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Total current
liabilities |
11.0 |
13.0 |
11.9 |
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Total
liabilities (including net worth) |
22.8 |
26.0 |
24.1 |
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Intangibles |
0.0 |
0.1 |
0.1 |
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Buildings |
10.6 |
11.4 |
8.7 |
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Total tangible
fixed assets |
12.2 |
13.0 |
11.8 |
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Long-term investments |
0.0 |
0.0 |
0.0 |
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Total financial
assets |
0.0 |
0.0 |
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 |
12.2 |
13.1 |
11.9 |
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Net stocks and work in progress |
2.9 |
3.7 |
4.0 |
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Trade debtors |
7.4 |
8.9 |
7.8 |
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Other receivables |
0.2 |
0.2 |
0.3 |
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Cash and liquid assets |
0.0 |
0.0 |
0.0 |
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Accruals |
0.0 |
0.0 |
0.0 |
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Total current
assets |
10.6 |
12.9 |
12.2 |
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Total assets |
22.8 |
26.0 |
24.1 |
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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 |
1.00 |
1.00 |
1.00 |
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Quick ratio |
0.70 |
0.70 |
0.70 |
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Current liabilities to net worth |
0.07% |
0.24% |
- |
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Sales per employee |
0.27 |
0.23 |
0.24 |
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Profit per employee |
0.00 |
0.00 |
-0.03 |
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Average wage per employee |
0.05 |
0.05 |
0.06 |
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Net worth |
1.6 |
0.5 |
-1.2 |
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Number of employees |
49 |
49 |
37 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.64.23 |
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UK Pound |
1 |
Rs.100.01 |
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Euro |
1 |
Rs.85.93 |
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.