MIRA
INFORM REPORT
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Report Date : |
07.11.2013 |
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Tel No.: |
+39 0331 631 380 |
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Fax No.: |
+39 0331 631 612 |
IDENTIFICATION DETAILS
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Name : |
MARIO
CROSTA SRL |
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Registered Office : |
Corso Sempione 67, Busto Arsizio, 21052 |
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Country : |
Italy |
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Financials (as on) : |
31.12.2012 |
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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 : |
Manufacture of machine tools for working stone, wood and similar hard
material |
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No. of Employees : |
34 |
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 |
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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
Company Name and Address
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Mario Crosta SRL |
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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
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Industry |
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ANZSIC 2006: |
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ISIC Rev 4: |
2822 -
Manufacture of metal-forming machinery and machine tools |
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NACE Rev 2: |
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NAICS 2012: |
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UK SIC 2007: |
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US SIC 1987: |
Key executives
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Name |
Title |
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Marco Crosta |
President |
Registered
No.(ITA): 02683670125
1 - Profit &
Loss Item Exchange Rate: USD 1 = EUR 0.7782366
2 - Balance Sheet Item Exchange Rate:
USD 1 = EUR 0.7566
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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.
Corporate Structure News
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Total Corporate
Family Members: 2 |
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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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Subsidiary |
Busto Arsizio, Varese |
Italy |
Machinery and Equipment Manufacturing |
1.1 |
34 |
Executives Report
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 |
Annual Profit and Loss
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31-Dec-2012 |
30-Sep-2011 |
30-Sep-2010 |
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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) |
0.778237 |
0.717768 |
0.740255 |
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Consolidated |
No |
No |
No |
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Total income |
1.2 |
7.9 |
8.3 |
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Net sales |
1.1 |
8.0 |
8.1 |
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Other operating income |
0.0 |
0.2 |
0.0 |
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Raw materials and consumables employed |
0.7 |
4.4 |
4.6 |
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Other expenses |
0.5 |
2.6 |
2.3 |
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Total payroll costs |
0.3 |
2.2 |
1.9 |
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Fixed asset depreciation and amortisation |
0.1 |
0.3 |
0.1 |
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Other operating costs |
0.0 |
0.1 |
0.2 |
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Net operating income |
-0.5 |
-1.6 |
-0.8 |
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Total financial income |
0.0 |
0.0 |
0.0 |
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Total expenses |
0.0 |
0.1 |
0.1 |
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Profit before tax |
-0.5 |
-1.7 |
-0.9 |
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Extraordinary result |
- |
0.0 |
- |
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Profit after extraordinary items and before tax |
-0.5 |
-1.7 |
-0.9 |
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Total taxation |
- |
0.0 |
0.0 |
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Net loss |
0.5 |
1.7 |
0.9 |
Annual
Balance Sheet
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Financials
in: USD (mil) |
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31-Dec-2012 |
30-Sep-2011 |
30-Sep-2010 |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate |
0.7566 |
0.745323 |
0.732493 |
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Consolidated |
No |
No |
No |
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Total stockholders equity |
0.2 |
0.4 |
1.3 |
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Provision for risks |
0.0 |
0.0 |
0.0 |
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Provision for pensions |
0.6 |
0.7 |
0.8 |
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Other long-term liabilities |
0.2 |
- |
0.0 |
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Trade creditors |
1.4 |
1.5 |
2.5 |
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Bank loans and overdrafts |
0.8 |
1.5 |
1.8 |
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Other current liabilities |
1.1 |
0.7 |
0.9 |
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Accruals and deferred income |
0.0 |
0.0 |
0.0 |
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Total current liabilities |
3.2 |
3.7 |
5.2 |
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Total liabilities (including net worth) |
4.2 |
4.9 |
7.3 |
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Intangibles |
0.0 |
0.1 |
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 |
0.4 |
0.7 |
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Total non-current assets |
0.5 |
0.6 |
0.8 |
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Net stocks and work in progress |
2.7 |
3.1 |
3.9 |
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Trade debtors |
0.7 |
1.1 |
2.3 |
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Other receivables |
0.2 |
0.1 |
0.3 |
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Cash and liquid assets |
0.1 |
0.0 |
0.0 |
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Accruals |
0.0 |
0.0 |
0.0 |
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Total current assets |
3.7 |
4.3 |
6.5 |
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Total assets |
4.2 |
4.9 |
7.3 |
Annual
Ratios
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Financials
in: USD (mil) |
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31-Dec-2012 |
30-Sep-2011 |
30-Sep-2010 |
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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 |
0.7566 |
0.745323 |
0.732493 |
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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 |
0.30 |
0.50 |
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Current liabilities to net worth |
0.21% |
0.09% |
0.04% |
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Sales per employee |
- |
0.16 |
0.12 |
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Profit per employee |
- |
-0.04 |
- |
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Average wage per employee |
- |
0.05 |
0.03 |
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Net worth |
0.2 |
0.4 |
1.3 |
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Number of employees |
- |
35 |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.92 |
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1 |
Rs.99.60 |
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Euro |
1 |
Rs.83.64 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIT |
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.