MIRA INFORM REPORT

 

 

Report Date :

20.09.2013

 

IDENTIFICATION DETAILS

 

Name :

KLOPMAN INTERNATIONAL SRL

 

 

Registered Office :

Viale Lame, Località Mola dei Frati, Frosinone, 03100

 

 

Country :

Italy

 

 

Financials (as on) :

31.03.2012

 

 

Date of Incorporation :

06.06.2003

 

 

Com. Reg. No.:

03985530967

 

 

Legal Form :

Private Subsidiary Company

 

 

Line of Business :

·         Subject is engaged in preparatory operations on woollen-type fibres: degreasing and carbonising of wool, carding

·         manufacturer of woollen-type yarns, either with wool or artificial or synthetic fibres, for weaving, knitting.

 

 

No. of Employees :

453 (2010)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

Payment Behaviour :

No Complaints 

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

 

Country Name

Previous Rating

(31.12.2012)

Current Rating

(31.03.2013)

Italy

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

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 & address 

 

Klopman International Srl

Viale Lame

Località Mola dei Frati

Frosinone, 03100

Italy

 

Tel:       39 (0775) 298278

Fax:      +39 0775 293346

Web:    www.klopman.com

           

 

Synthesis

 

Employees:                 453 (2010)

Company Type:            Private Subsidiary

Corporate Family:          2 Companies

Ultimate Parent:             Mw Corp Private Limited

Incorporation Date:        06-Jun-2003    

Financials in:                 USD (Millions)

Fiscal Year End:            31-Mar-2012

Reporting Currency:       Euro

Annual Sales:               179.2

Total Assets:                 155.8

 

 

Business Description     

 

Klopman International SRL is primarily engaged in preparatory operations on woollen-type fibres: degreasing and carbonising of wool, carding; and manufacture of woollen-type yarns, either with wool or artificial or synthetic fibres, for weaving, knitting.

 

Industry            

Industry           Textile Manufacturing

ANZSIC 2006:   1312 - Natural Textile Manufacturing

ISIC Rev 4:        1312 - Weaving of textiles

NACE Rev 2:     1320 - Weaving of textiles

NAICS 2012:     313210 - Broadwoven Fabric Mills

UK SIC 2007:    1320 - Weaving of textiles

US SIC 1987:    2211 - Broadwoven Fabric Mills, Cotton

 

           


Key Executives   

 

Name

Title

Giuseppe Rodinò Di Miglione

Chairman and Chief Executive Officer

Warij Abhaykumar Kasliwal

President

Paolo Bianciardi

Sales and Marketing Director

Holger Joachim Willi Beule

Executive

Giuseppe Abbruzzesi

Member of the board

 

1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7269425

2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7534632

 

 

Corporate Overview

 

Location

Viale Lame

Località Mola dei Frati

Frosinone, 03100

Italy

Tel:       39 (0775) 298278

Fax:      +39 0775 293346

www.klopman.com

           

Sales EUR(mil):             130.3

Assets EUR(mil):           117.4

Employees:                  453 (2010)

Fiscal Year End:            31-Mar-2012

Industry:                       Textiles - Non Apparel

Incorporation Date:        06-Jun-2003

Company Type:             Private Subsidiary

Quoted Status:              Not Quoted

Registered No.(ITA):      03985530967

 

Chairman and Chief Executive Officer:

Giuseppe Rodinò Di Miglione

 

Industry Codes

 

ANZSIC 2006 Codes:

1312     -          Natural Textile Manufacturing

1829     -          Other Basic Polymer Manufacturing

 

ISIC Rev 4 Codes:

1312     -          Weaving of textiles

2030     -          Manufacture of man-made fibres

NACE Rev 2 Codes:

1320     -          Weaving of textiles

2060     -          Manufacture of man-made fibres

 

NAICS 2012 Codes:

313210  -          Broadwoven Fabric Mills

325220  -          Artificial and Synthetic Fibers and Filaments Manufacturing

 

US SIC 1987:

2211     -          Broadwoven Fabric Mills, Cotton

2824     -          Manmade Organic Fibers, Except Cellulosic

 

UK SIC 2007:

1320     -          Weaving of textiles

2060     -          Manufacture of man-made fibres

 

Business Description

Manufacture of polyester-cotton mix textiles

 

More Business Descriptions

Klopman International SRL is primarily engaged in preparatory operations on woollen-type fibres: degreasing and carbonising of wool, carding; and manufacture of woollen-type yarns, either with wool or artificial or synthetic fibres, for weaving, knitting.

 

 

Financial Data

Financials in:

EUR(mil)

 

Revenue:

130.3

Assets:

117.4

Current Assets:

65.6

 

Total Liabilities:

117.4

 

Net Worth:

34.4

 

 

 

Date of Financial Data:

31-Mar-2012

 

1 Year Growth

32.5%

NA

Key Corporate Relationships

Bank:

Banca Nazionale del Lavoro Ag, Unicredit Ag, Banca Monte dei Paschi di Siena Ag

 

 

 

 

 

 

 

 

 

 

Corporate Family

Corporate Structure News:

 

Mw Corp Private Limited
Klopman International Srl

Klopman International Srl 
Total Corporate Family Members: 2 

 

 

 

 

Company Name

Company Type

Location

Country

Industry

Sales
(USD mil)

Employees

 

Mw Corp Private Limited

Parent

Mumbai, Maharashtra

India

Holding Companies

0.8

 

 

Klopman International Srl

Subsidiary

Frosinone, FR

Italy

Textile Manufacturing

179.2

453 (2010)

 

 

 

 

Executive report

 

Board of Directors

 

Name

Title

Function

 

Giuseppe Rodinò Di Miglione

 

Chairman and Chief Executive Officer

Chairman

 

Giuseppe Abbruzzesi

 

Member of the board

Director/Board Member

 

Mukul Kasliwal

 

Member of the board

Director/Board Member

 

Vrajendra Kumar Maloo

 

Member of the board

Director/Board Member

 

Dennis James Quinn

 

Member of the board

Director/Board Member

 

Pasquale Salemi

 

Member of the board

Director/Board Member

 

 

 

 

Executives

 

Name

Title

Function

 

Giuseppe Rodinò Di Miglione

 

Chairman and Chief Executive Officer

Chief Executive Officer

 

Warij Abhaykumar Kasliwal

 

President

President

 

Paolo Bianciardi

 

Sales and Marketing Director

Sales Executive

 

Education:

Berkeley , California, MBA 

 

Franco La Scola

 

Protectiwear Business Director

Sales Executive

 

 

Holger Joachim Willi Beule

 

Executive

Other

 

 

Filippo Carnevale

 

Executive

Other

 

 

Vincenzo Cristofaro

 

Executive

Other

 

 

Manlio Ferragni

 

Executive

Other

 

 

Maria Grazia Iacone

 

Executive

Other

 

 

Anna Maria Imperioli

 

Executive

Other

 

 

Alessandro Masi

 

Executive

Other

 

 

Roberto Quadrini

 

Executive

Other

 

 

Giovanni Ricci

 

Executive

Other

 

 

Giampaolo Rossi

 

Executive

Other

 

 

Amaury Jean-Bernanrd Sartorius

 

Executive

Other

 

 

Alfonso Verdoliva

 

Executive

Other

 

 

 

Annual Profit & Loss

 

 

 

31-Mar-2012

02-Oct-2010

03-Oct-2009

Period Length

12 Months

12 Months

12 Months

Filed Currency

EUR

EUR

EUR

Exchange Rate (Period Average)

0.726943

0.740484

0.739451

Consolidated

No

No

No

 

 

 

 

Total income

191.8

139.4

105.6

Net sales

179.2

132.8

111.2

Other operating income

5.2

1.8

1.7

Raw materials and consumables employed

114.0

76.3

61.3

Other expenses

34.8

29.7

27.5

Total payroll costs

24.9

22.1

21.6

Fixed asset depreciation and amortisation

5.4

5.2

5.5

Other operating costs

1.4

0.6

0.4

Net operating income

11.2

5.6

-10.8

Total financial income

-1.1

0.1

0.1

Total expenses

3.0

1.4

2.0

Profit before tax

7.1

4.3

-12.7

Extraordinary result

-0.2

-0.3

-1.9

Profit after extraordinary items and before tax

6.9

3.9

-14.6

Total taxation

3.3

2.1

-3.6

Net profit

3.7

1.8

-

Net loss

-

-

10.9

 

 

Annual Balance Sheet

Financials in: USD (mil)

 

 

 

31-Mar-2012

02-Oct-2010

03-Oct-2009

Filed Currency

EUR

EUR

EUR

Exchange Rate

0.753463

0.727458

0.684697

Consolidated

No

No

No

 

 

 

 

Total stockholders equity

45.7

49.4

50.6

Provision for risks

5.9

6.2

7.5

Provision for pensions

9.0

9.1

10.5

Mortgages and loans

-

-

0.3

Other long-term liabilities

-

-

2.2

Trade creditors

29.5

34.1

21.8

Bank loans and overdrafts

52.2

29.9

43.6

Other current liabilities

12.2

11.3

7.2

Accruals and deferred income

1.3

1.6

0.5

Total current liabilities

95.2

76.8

73.0

Total liabilities (including net worth)

155.8

141.5

144.2

Intangibles

0.1

0.0

0.0

Buildings

36.1

38.9

42.6

Total tangible fixed assets

58.0

63.3

72.3

Long-term investments

4.7

1.4

1.1

Total financial assets

4.8

1.5

1.2

Receivables due after 1 year

5.9

-

9.8

Total non-current assets

68.7

64.8

83.3

Finished goods

36.3

24.3

20.5

Net stocks and work in progress

53.1

32.6

32.8

Trade debtors

31.3

30.7

24.0

Other receivables

1.3

10.4

1.4

Cash and liquid assets

1.1

2.4

2.1

Accruals

0.3

0.7

0.5

Total current assets

87.1

76.7

60.9

Total assets

155.8

141.5

144.2

 

 

Annual Ratios

Financials in: USD (mil)

 

 

 

31-Mar-2012

02-Oct-2010

03-Oct-2009

Period Length

12 Months

12 Months

12 Months

Filed Currency

EUR

EUR

EUR

Exchange Rate

0.753463

0.727458

0.684697

Consolidated

No

No

No

 

 

 

 

Current ratio

0.90

1.00

0.80

Quick ratio

0.40

0.60

0.40

Current liabilities to net worth

0.02%

0.02%

0.01%

Sales per employee

-

0.22

0.18

Profit per employee

-

0.01

-0.02

Average wage per employee

-

0.04

0.04

Net worth

45.7

49.4

50.6

Number of employees

-

453

494

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.75

UK Pound

1

Rs.99.56

Euro

1

Rs.83.55

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

----

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%)

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.