MIRA
INFORM REPORT
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Report Date : |
11.03.2013 |
IDENTIFICATION DETAILS
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Name : |
PROCTOR SRL |
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Registered Office : |
Via G. Pastore 4, Lograto, 25030 |
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Country : |
Italy |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
09.05.1991 |
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Com. Reg. No.: |
01627940982 |
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Legal Form : |
Private Independent |
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Line of Business : |
Wholesale of clothing and footwear |
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No. of Employees : |
14 |
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 : |
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 – 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 and address
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Proctor SRL |
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Employees: |
14 |
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Company Type: |
Private Independent
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Incorporation
Date: |
09-May-1991 |
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Fiscal Year End:
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31-Dec-2011 |
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Reporting
Currency: |
Euro |
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Annual Sales: |
16.5 |
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Total Assets: |
16.2 |
Business Description
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Proctor SRL is primarily engaged in
wholesale of adults' fur and leather clothing; wholesale of children's and
infants' clothing; wholesale of footwear; and wholesale of clothing not
elsewhere classified. |
Industry
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Industry |
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ANZSIC 2006: |
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NACE 2002: |
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NAICS 2002: |
4243 - Apparel, Piece Goods, and Notions Merchant
Wholesalers |
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UK SIC 2003: |
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UK SIC 2007: |
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US SIC 1987: |
Key Executives
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Registered No.(ITA):
01627940982
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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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 |
16.5 |
16.2 |
13.4 |
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Net sales |
16.5 |
16.1 |
13.4 |
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Other operating income |
0.0 |
0.0 |
0.0 |
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Raw materials and consumables employed |
10.9 |
10.5 |
8.7 |
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Other expenses |
3.5 |
3.1 |
2.6 |
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Total payroll costs |
1.1 |
1.0 |
0.8 |
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Fixed asset depreciation and amortisation |
0.2 |
0.1 |
0.2 |
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Other operating costs |
0.5 |
0.1 |
0.3 |
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Net operating
income |
0.4 |
1.3 |
0.8 |
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Total financial
income |
0.0 |
- |
0.0 |
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Total expenses |
0.3 |
0.1 |
0.2 |
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Profit before tax |
0.2 |
1.1 |
0.7 |
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Profit after extraordinary items and
before tax |
0.2 |
1.1 |
0.7 |
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Total taxation |
0.1 |
0.4 |
0.2 |
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Net profit |
0.0 |
0.7 |
0.4 |
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 |
3.1 |
3.2 |
2.6 |
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Provision for risks |
0.1 |
0.1 |
0.0 |
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Provision for pensions |
0.2 |
0.2 |
0.1 |
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Mortgages and loans |
1.8 |
0.2 |
0.7 |
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Trade creditors |
2.3 |
2.3 |
1.3 |
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Bank loans and overdrafts |
8.4 |
8.9 |
7.9 |
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Other current liabilities |
0.2 |
0.4 |
0.3 |
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Accruals and deferred income |
0.1 |
0.1 |
0.1 |
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Total current
liabilities |
11.0 |
11.8 |
9.6 |
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Total
liabilities (including net worth) |
16.2 |
15.4 |
13.1 |
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Intangibles |
0.0 |
0.1 |
0.2 |
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Total tangible
fixed assets |
0.1 |
0.1 |
0.1 |
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Long-term investments |
0.0 |
0.0 |
- |
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Total financial
assets |
0.0 |
0.0 |
0.0 |
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Total
non-current assets |
0.1 |
0.2 |
0.3 |
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Finished goods |
6.4 |
3.8 |
- |
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Net stocks and work in progress |
6.6 |
3.9 |
4.2 |
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Trade debtors |
8.7 |
11.1 |
8.4 |
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Other receivables |
0.6 |
0.2 |
0.2 |
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Cash and liquid assets |
0.1 |
0.1 |
0.1 |
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Marketable securities |
0.0 |
0.0 |
- |
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Accruals |
0.0 |
0.0 |
0.0 |
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Total current
assets |
16.1 |
15.3 |
12.9 |
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Total assets |
16.2 |
15.4 |
13.1 |
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 |
1.50 |
1.30 |
1.30 |
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Quick ratio |
0.90 |
1.00 |
0.90 |
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Current liabilities to net worth |
0.04% |
0.04% |
0.04% |
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Sales per employee |
0.85 |
0.87 |
0.69 |
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Profit per employee |
0.01 |
0.06 |
0.03 |
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Average wage per employee |
0.05 |
0.05 |
0.04 |
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Net worth |
3.1 |
3.2 |
2.6 |
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Number of employees |
14 |
14 |
14 |
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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1 |
Rs.81.56 |
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Euro |
1 |
Rs.71.23 |
INFORMATION DETAILS
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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.