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Report Date : |
22.07.2013 |
IDENTIFICATION DETAILS
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Name : |
MARIMAR SRL |
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Registered Office : |
Via Pegrosse 508/D Volargne Dolce', 37020 |
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Country : |
Italy |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
01.08.1995 |
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Com. Reg. No.: |
02634540237 |
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Legal Form : |
Private Independent |
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Line of Business : |
Wholesale of wood, construction materials and sanitary equipment |
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No. of Employees : |
6 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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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 – 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.
Source
: CIA
Marimar SRL
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Business
Description
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Marimar SRL is primarily engaged in wholesale of paint and varnish;
wholesale of wood in the rough; wholesale of products of primary processing
of wood; wholesale of construction materials (sand, gravel); wholesale of flat
glass; and wholesale of sanitary equipment (baths, washbasins, toilets and
other sanitary porcelain). |
Industry
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Industry |
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ANZSIC 2006: |
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NACE 2002: |
5153 - Wholesale of wood, construction materials and
sanitary equipment |
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NAICS 2002: |
4233 - Lumber and Other Construction Materials
Merchant Wholesalers |
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UK SIC 2003: |
5153 - Wholesale of wood, construction materials and
sanitary equipment |
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UK SIC 2007: |
4673 - Wholesale of wood, construction materials and
sanitary equipment |
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US SIC 1987: |
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
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Executives
Report
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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 |
8.1 |
6.6 |
6.1 |
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Net sales |
8.1 |
6.6 |
6.1 |
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Raw materials and consumables employed |
5.4 |
4.4 |
4.2 |
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Other expenses |
1.2 |
1.2 |
1.0 |
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Total payroll costs |
0.2 |
0.2 |
0.1 |
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Fixed asset depreciation and amortisation |
0.0 |
0.0 |
0.0 |
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Other operating costs |
0.0 |
0.1 |
0.0 |
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Net operating income |
1.2 |
0.7 |
0.7 |
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Total financial income |
0.1 |
0.1 |
0.1 |
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Total expenses |
0.2 |
0.1 |
0.1 |
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Profit before tax |
1.2 |
0.6 |
0.7 |
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Extraordinary result |
- |
0.0 |
0.0 |
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Profit after extraordinary items and before tax |
1.2 |
0.6 |
0.7 |
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Total taxation |
0.4 |
0.2 |
0.2 |
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Net profit |
0.8 |
0.4 |
0.5 |
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Annual Balance
Sheet |
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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 |
|
Exchange Rate |
0.770327 |
0.745406 |
0.696986 |
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Consolidated |
No |
No |
No |
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Total stockholders equity |
3.5 |
2.8 |
2.6 |
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Provision for pensions |
0.0 |
0.0 |
0.0 |
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Trade creditors |
0.9 |
0.9 |
1.0 |
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Other current liabilities |
0.4 |
0.3 |
0.3 |
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Accruals and deferred income |
0.0 |
0.0 |
0.0 |
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Total current liabilities |
1.3 |
1.2 |
1.3 |
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Total liabilities (including net worth) |
4.8 |
4.0 |
3.9 |
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Intangibles |
0.0 |
0.0 |
0.0 |
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Total tangible fixed assets |
0.1 |
0.1 |
0.1 |
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Receivables due after 1 year |
0.0 |
0.0 |
0.0 |
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Total non-current assets |
0.1 |
0.1 |
0.1 |
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Net stocks and work in progress |
0.5 |
0.4 |
0.4 |
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Trade debtors |
0.7 |
0.6 |
0.8 |
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Other receivables |
0.3 |
0.3 |
0.2 |
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Cash and liquid assets |
3.3 |
2.5 |
2.4 |
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Accruals |
0.0 |
0.0 |
0.0 |
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Total current assets |
4.7 |
3.9 |
3.8 |
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Total assets |
4.8 |
4.0 |
3.9 |
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Annual Ratios |
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Financials in:
USD (mil) |
|
|
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 |
|
Exchange Rate |
0.770327 |
0.745406 |
0.696986 |
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Consolidated |
No |
No |
No |
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|
|
|
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Current ratio |
3.70 |
3.40 |
2.90 |
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Quick ratio |
3.30 |
3.00 |
2.60 |
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Current liabilities to net worth |
0.00% |
0.00% |
0.01% |
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Sales per employee |
- |
- |
1.47 |
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Average wage per employee |
- |
- |
0.03 |
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Net worth |
3.5 |
2.8 |
2.6 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.79 |
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|
1 |
Rs.91.03 |
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Euro |
1 |
Rs.78.52 |
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 |
-- |
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.