MIRA INFORM REPORT
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Report Date : |
19.07.2013 |
IDENTIFICATION DETAILS
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Name : |
COMMERCIAL CALZA SRL |
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Registered Office : |
Via Giorgio De Chirico 10, Montebelluna, 31044 |
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Country : |
Italy |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
08.01.1998 |
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Com. Reg. No.: |
03324730260 |
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Legal Form : |
Private Independent Company |
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Line of Business : |
manufacturer
of hosiery, including socks, tights and pantihose. |
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No. of Employees : |
03 |
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 : |
Small Company |
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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 – 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
Commercial Calza SRL
Via Giorgio De Chirico 10
Montebelluna, 31044
Italy
Tel: +39 0423 22776
Fax: +39 0423 303576
Synthesis
Employees: 3
Company Type: Private
Independent
Incorporation Date:
08-Jan-1998
Financials in: USD
(Millions)
Fiscal Year End:
31-Dec-2011
Reporting Currency: Euro
Annual Sales: 4.9
Total Assets: 3.1
Business Description
Commercial Calza SRL is primarily engaged in manufacture of hosiery, including socks, tights and pantihose. This class also includes: manufacture of footwear of textile materials without applied soles.
Industry
Industry Apparel and Accessories
ANZSIC 2006: 1340 - Knitted
Product Manufacturing
NACE 2002: 1771 - Manufacture
of knitted and crocheted hosiery
NAICS 2002: 3151 - Apparel
Knitting Mills
UK SIC 2003: 1771 - Manufacture
of knitted and crocheted hosiery
UK SIC 2007: 1431 - Manufacture
of knitted and crocheted hosiery
US SIC 1987: 2252 - Hosiery,
Not Elsewhere Classified
Key Executives
Name Title
Moreno Melara President
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 Giorgio De Chirico 10
Montebelluna, 31044
Italy
Tel: +39 0423 22776
Fax: +39 0423 303576
Sales EUR(mil): 3.5
Assets EUR(mil): 2.4
Employees: 3
Fiscal Year End: 31-Dec-2011
Industry: Apparel
and Accessories
Incorporation Date: 08-Jan-1998
Company Type: Private
Independent
Quoted Status: Not
Quoted
Registered No.(ITA): 03324730260
President: Moreno
Melara
Industry Codes
ANZSIC 2006 Codes:
1340 - Knitted Product Manufacturing
3739 - Other Goods Wholesaling Not Elsewhere Classified
NACE 2002 Codes:
1771 - Manufacture of knitted and crocheted hosiery
5190 - Other wholesale
NAICS 2002 Codes:
3151 - Apparel Knitting Mills
423990 - Other Miscellaneous Durable Goods Merchant Wholesalers
US SIC 1987:
2252 - Hosiery, Not Elsewhere Classified
5099 - Durable Goods, Not Elsewhere Classified
UK SIC 2003:
1771 - Manufacture of knitted and crocheted hosiery
5190 - Other wholesale
UK SIC 2007:
1431 - Manufacture of knitted and crocheted hosiery
4690 - Non-specialised wholesale trade
Business
Description
Commercial Calza SRL is primarily engaged in manufacture of hosiery,
including socks, tights and pantihose. This class also includes: manufacture of
footwear of textile materials without applied soles.
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Executive report
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Executives |
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President |
President |
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Managing director |
Managing Director |
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Managing director |
Managing Director |
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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 |
4.9 |
3.7 |
4.1 |
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Net sales |
4.9 |
3.6 |
4.1 |
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Other operating income |
0.0 |
0.0 |
0.0 |
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Raw materials and consumables employed |
3.4 |
2.4 |
3.0 |
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Other expenses |
1.2 |
0.9 |
0.8 |
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Total payroll costs |
0.2 |
0.2 |
0.2 |
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Fixed asset depreciation and amortisation |
0.0 |
0.0 |
0.0 |
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Other operating costs |
0.1 |
0.0 |
0.1 |
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Net operating
income |
0.1 |
0.1 |
0.0 |
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Total financial
income |
- |
0.0 |
0.0 |
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Total expenses |
0.0 |
0.0 |
0.0 |
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Profit before tax |
0.0 |
0.0 |
0.0 |
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Extraordinary result |
0.0 |
0.0 |
0.1 |
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Profit after extraordinary items and
before tax |
0.1 |
0.0 |
0.1 |
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Total taxation |
0.0 |
0.0 |
0.1 |
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Net profit |
0.0 |
0.0 |
0.1 |
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 |
0.7 |
0.7 |
0.8 |
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Provision for risks |
- |
0.0 |
0.0 |
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Provision for pensions |
0.0 |
0.0 |
0.0 |
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Other long-term liabilities |
- |
- |
0.0 |
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Trade creditors |
1.6 |
1.1 |
- |
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Bank loans and overdrafts |
0.6 |
0.3 |
- |
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Other current liabilities |
0.1 |
0.1 |
1.6 |
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Accruals and deferred income |
0.0 |
0.0 |
0.0 |
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Total current
liabilities |
2.3 |
1.5 |
1.6 |
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Total
liabilities (including net worth) |
3.1 |
2.3 |
2.5 |
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Intangibles |
0.0 |
0.0 |
- |
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Total tangible
fixed assets |
0.0 |
0.0 |
0.1 |
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Total financial assets |
- |
0.0 |
- |
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Total
non-current assets |
0.1 |
0.0 |
0.1 |
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Net stocks and work in progress |
1.4 |
0.7 |
0.9 |
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Trade debtors |
1.3 |
1.1 |
1.1 |
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Other receivables |
0.1 |
0.0 |
0.1 |
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Cash and liquid assets |
0.2 |
0.4 |
0.3 |
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Accruals |
0.0 |
0.0 |
0.0 |
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Total current
assets |
3.0 |
2.2 |
2.4 |
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Total assets |
3.1 |
2.3 |
2.5 |
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 |
1.50 |
1.50 |
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Quick ratio |
0.70 |
1.00 |
0.90 |
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Current liabilities to net worth |
0.03% |
0.02% |
0.02% |
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Sales per employee |
- |
- |
0.42 |
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Average wage per employee |
- |
- |
0.02 |
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Net worth |
0.7 |
0.7 |
0.8 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.59.71 |
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UK Pound |
1 |
Rs.90.59 |
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Euro |
1 |
Rs.78.22 |
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.