MIRA
INFORM REPORT
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Report Date : |
11.03.2013 |
IDENTIFICATION DETAILS
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Name : |
MARIO CROSTA SRL |
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Registered Office : |
Busto Arsizio, 21052 |
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Country : |
Italy |
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Financials (as on) : |
30.09.2011 |
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Date of Incorporation : |
23.10.2001 |
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Com. Reg. No.: |
02683670125 |
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Legal Form : |
Private Subsidiary |
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Line of Business : |
manufacturer of machine tools for working stone,
wood and similar hard material |
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No. of Employees : |
35 |
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 : |
Regular |
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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 (31.03.2012) |
Current Rating (30.06.2012) |
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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 & address
Mario Crosta SRL
Corso Sempione 67
Busto Arsizio, 21052
Italy
Tel: +39 0331 631380
Fax: +39 0331 631612
Synthesis
Employees: 35
Company Type: Private Subsidiary
Corporate Family: 2
Companies
Ultimate Parent: C.B.S. HOLDING SRL
Incorporation Date:
23-Oct-2001
Financials in: USD
(Millions)
Fiscal Year End:
30-Sep-2011
Reporting Currency: Euro
Annual Sales: 8.0
Total Assets: 4.9
Business Description
Mario Crosta SRL is primarily engaged in manufacture of machine tools for working stone, wood and similar hard material; presses for the manufacture of particle board and the like; manufacture of soldering, brazing and welding tools; surface tempering and hot spraying machines and apparatus; manufacture of tool holders and self-opening dieheads; manufacture of work holders for machine tools; manufacture of dividing heads and other special attachments for machine tools; manufacture of parts and accessories for wood, cork, hard rubber and similar hard materials working machine tools; and manufacture of parts and accessories for welding equipment.
Industry
Industry Miscellaneous Capital Goods
ANZSIC 2006: 2463 - Machine
Tool and Parts Manufacturing
NACE 2002: 2943 - Manufacture
of other machine tools not elsewhere classified
NAICS 2002: 33351 -
Metalworking Machinery Manufacturing
UK SIC 2003: 2943 - Manufacture
of other machine tools not elsewhere classified
UK SIC 2007: 2849 - Manufacture
of other machine tools
US SIC 1987: 3549 - Metalworking
Machinery, Not Elsewhere Classified
Key Executives
Name Title
Marco Crosta President
Registered No.(ITA): 02683670125
1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.717768
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7453231
Corporate Overview
Location
Corso Sempione 67
Busto Arsizio, 21052
Italy
Tel: +39 0331 631380
Fax: +39 0331 631612
Sales EUR(mil): 5.7
Assets EUR(mil): 3.6
Employees: 35
Fiscal Year End: 30-Sep-2011
Industry: Miscellaneous
Capital Goods
Incorporation Date: 23-Oct-2001
Company Type: Private Subsidiary
Quoted Status: Not
Quoted
Registered No.(ITA): 02683670125
President: Marco
Crosta
Industry Codes
ANZSIC 2006 Codes:
2463 - Machine Tool and Parts Manufacturing
2469 - Other Specialised Machinery and Equipment Manufacturing
NACE 2002 Codes:
2943 - Manufacture of other machine tools not elsewhere classified
2954 - Manufacture of machinery for textile, apparel and leather
production
NAICS 2002 Codes:
33351 - Metalworking Machinery Manufacturing
333292 - Textile Machinery Manufacturing
US SIC 1987:
3549 - Metalworking Machinery, Not Elsewhere Classified
3552 - Textile Machinery
UK SIC 2003:
2943 - Manufacture of other machine tools not elsewhere classified
2954 - Manufacture of machinery for textile, apparel and leather
production
UK SIC 2007:
2849 - Manufacture of other machine tools
2894 - Manufacture of machinery for textile, apparel and leather
production
Business
Description
Mario Crosta SRL is primarily engaged in manufacture of machine tools for working stone, wood and similar hard material; presses for the manufacture of particle board and the like; manufacture of soldering, brazing and welding tools; surface tempering and hot spraying machines and apparatus; manufacture of tool holders and self-opening dieheads; manufacture of work holders for machine tools; manufacture of dividing heads and other special attachments for machine tools; manufacture of parts and accessories for wood, cork, hard rubber and similar hard materials working machine tools; and manufacture of parts and accessories for welding equipment.
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Corporate Family |
Corporate
Structure News: |
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Mario
Crosta SRL |
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Mario Crosta SRL |
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Company
Name |
Company
Type |
Location |
Country |
Industry |
Sales |
Employees |
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C.B.S. HOLDING SRL |
Parent |
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Mario Crosta SRL |
Subsidiary |
Busto Arsizio, Varese |
Italy |
Miscellaneous Capital Goods |
8.0 |
34 |
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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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30-Sep-2011 |
30-Sep-2010 |
30-Sep-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) |
0.717768 |
0.740255 |
0.73971 |
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Consolidated |
No |
No |
No |
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Total income |
7.9 |
8.3 |
5.9 |
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Net sales |
8.0 |
8.1 |
5.7 |
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Other operating income |
0.2 |
0.0 |
0.2 |
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Raw materials and consumables employed |
4.4 |
4.6 |
3.2 |
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Other expenses |
2.6 |
2.3 |
1.8 |
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Total payroll costs |
2.2 |
1.9 |
2.3 |
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Fixed asset depreciation and amortisation |
0.3 |
0.1 |
0.1 |
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Other operating costs |
0.1 |
0.2 |
0.1 |
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Net operating
income |
-1.6 |
-0.8 |
-1.6 |
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Total financial
income |
0.0 |
0.0 |
0.0 |
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Total expenses |
0.1 |
0.1 |
0.2 |
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Profit before tax |
-1.7 |
-0.9 |
-1.8 |
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Extraordinary result |
0.0 |
- |
-0.1 |
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Profit after extraordinary items and
before tax |
-1.7 |
-0.9 |
-1.8 |
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Total taxation |
0.0 |
0.0 |
0.2 |
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Net loss |
1.7 |
0.9 |
2.0 |
Annual Balance
Sheet
Financials in: USD (mil)
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30-Sep-2011 |
30-Sep-2010 |
30-Sep-2009 |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate |
0.745323 |
0.732493 |
0.684135 |
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Consolidated |
No |
No |
No |
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Total
stockholders equity |
0.4 |
1.3 |
0.3 |
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Provision for risks |
0.0 |
0.0 |
0.1 |
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Provision for pensions |
0.7 |
0.8 |
1.0 |
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Other long-term liabilities |
- |
0.0 |
0.7 |
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Trade creditors |
1.5 |
2.5 |
2.1 |
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Bank loans and overdrafts |
1.5 |
1.8 |
2.4 |
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Other current liabilities |
0.7 |
0.9 |
1.5 |
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Accruals and deferred income |
0.0 |
0.0 |
0.0 |
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Total current
liabilities |
3.7 |
5.2 |
6.0 |
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Total
liabilities (including net worth) |
4.9 |
7.3 |
8.1 |
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Intangibles |
0.1 |
0.0 |
0.1 |
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Buildings |
- |
- |
0.0 |
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Total tangible
fixed assets |
0.1 |
0.1 |
0.1 |
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Long-term investments |
- |
- |
0.0 |
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Total financial
assets |
0.0 |
0.0 |
0.0 |
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Receivables due after 1 year |
0.4 |
0.7 |
0.7 |
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Total
non-current assets |
0.6 |
0.8 |
0.9 |
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Finished goods |
- |
- |
0.8 |
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Net stocks and work in progress |
3.1 |
3.9 |
3.7 |
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Trade debtors |
1.1 |
2.3 |
3.1 |
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Other receivables |
0.1 |
0.3 |
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 |
0.1 |
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Total current
assets |
4.3 |
6.5 |
7.2 |
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Total assets |
4.9 |
7.3 |
8.1 |
Annual Ratios
Financials in: USD (mil)
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30-Sep-2011 |
30-Sep-2010 |
30-Sep-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 |
0.745323 |
0.732493 |
0.684135 |
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Consolidated |
No |
No |
No |
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Current ratio |
1.20 |
1.20 |
1.20 |
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Quick ratio |
0.30 |
0.50 |
0.60 |
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Current liabilities to net worth |
0.09% |
0.04% |
0.20% |
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Sales per employee |
0.16 |
0.12 |
0.10 |
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Profit per employee |
-0.04 |
- |
-0.03 |
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Average wage per employee |
0.05 |
0.03 |
0.04 |
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Net worth |
0.4 |
1.3 |
0.3 |
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Number of employees |
35 |
- |
44 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.54.40 |
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UK Pound |
1 |
Rs.81.57 |
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Euro |
1 |
Rs.71.24 |
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.