MIRA
INFORM REPORT
|
Report Date : |
17.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
ISELFA MORSETTERIA SRL |
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Registered Office : |
Corso Roma 36, Solbiate
Arno, 21048 |
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Country : |
Italy |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
26.07.2006 |
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Com. Reg. No.: |
02273570024 |
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Legal Form : |
Private
Subsidiary Company |
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Line of Business : |
·
manufacturer
of electrical signalling, safety or traffic control equipment for motorways,
roads or streets, railways and tramways, inland waterways, ports and harbours
and airports ·
manufacturer
of diverse electrical sound or visual signalling apparatus (bells, sirens,
indicator panels, burglar and fire alarms.) ·
manufacturer
of electromagnets including electromagnetic or permanent magnet chucks,
clutches, brakes, couplings, clamps or lifting heads; manufacturer of electrical insulators and insulating
fittings, except of glass or ceramics ·
manufacturer
of insulating fittings for electrical machines or equipment, except of
ceramics or plastics ·
manufacturer
of carbon or graphite electrodes; manufacture of electrical conduit tubing
and joints for such tubing, of base metal lined with insulating material ·
manufacturer
of diverse electrical machines and apparatus (particle accelerators, signal generators,
mine detectors, electrical detonator |
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|
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No. of Employees |
17 (2012) |
RATING & COMMENTS
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MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Italy |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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
Iselfa Morsetteria SRL
Corso Roma 36
Solbiate Arno,
21048
Italy
Tel: +39 0331 992710
Fax: +39 0331 984049
Synthesis
Employees: 17
Company Type: Private
Subsidiary
Corporate Family: 2 Companies
Ultimate Parent: KARAMTARA
ITALY SRL
Incorporation
Date: 26-Jul-2006
Financials in: USD (Millions)
Fiscal Year End: 31-Dec-2012
Reporting
Currency: Euro
Annual Sales: 3.5
Total Assets: 5.0
Business
Description
Iselfa
Morsetteria SRL is primarily engaged in manufacture of electrical signalling,
safety or traffic control equipment for motorways, roads or streets, railways
and tramways, inland waterways, ports and harbours and airports; manufacture of
diverse electrical sound or visual signalling apparatus (bells, sirens,
indicator panels, burglar and fire alarms.); manufacture of electromagnets
including electromagnetic or permanent magnet chucks, clutches, brakes,
couplings, clamps or lifting heads; manufacture of electrical insulators and
insulating fittings, except of glass or ceramics; manufacture of insulating
fittings for electrical machines or equipment, except of ceramics or plastics; manufacture
of carbon or graphite electrodes; manufacture of electrical conduit tubing and
joints for such tubing, of base metal lined with insulating material; and
manufacture of diverse electrical machines and apparatus (particle
accelerators, signal generators, mine detectors, electrical detonators.).
Industry
Industry
Electrical Equipment and Appliances Manufacturing
ANZSIC 2006: 2439 - Other Electrical Equipment
Manufacturing
ISIC Rev 4: 2790 - Manufacture of other electrical
equipment
NACE Rev 2: 2790 - Manufacture of other electrical
equipment
NAICS 2012: 335999 - All Other Miscellaneous
Electrical Equipment and Component Manufacturing
UK SIC 2007: 2790 - Manufacture of other electrical
equipment
US SIC 1987: 3699 - Electrical Machinery, Equipment, and
Supplies, Not Elsewhere Classified
Key Executives
|
Name |
Title |
|
Tanveer Singh |
President |
|
Ernesto Leo Ersilio Carabelli |
Purchasing Manager |
|
Vijay Sachdev |
Member of the board |
1 - Profit &
Loss Item Exchange Rate: USD 1 = EUR 0.7782366
2 - Balance Sheet
Item Exchange Rate: USD 1 = EUR 0.7566
Corporate
Overview
Location
Corso Roma 36
Solbiate Arno,
21048
Italy
Tel: +39 0331 992710
Fax: +39 0331 984049
Sales EUR(mil): 2.7
Assets EUR(mil): 3.8
Employees: 17
Fiscal Year End: 31-Dec-2012
Industry: Electronic
Instruments and Controls
Incorporation
Date: 26-Jul-2006
Company Type: Private
Subsidiary
Quoted Status: Not
Quoted
Registered
No.(ITA): 02273570024
President: Tanveer Singh
Industry Codes
ANZSIC 2006
Codes:
2439 - Other
Electrical Equipment Manufacturing
2240 - Sheet
Metal Product Manufacturing (except Metal Structural and Container Products)
ISIC Rev 4 Codes:
2790 - Manufacture
of other electrical equipment
2591 - Forging,
pressing, stamping and roll-forming of metal; powder metallurgy
NACE Rev 2 Codes:
2790 - Manufacture
of other electrical equipment
2550 - Forging,
pressing, stamping and roll-forming of metal; powder metallurgy
NAICS 2012 Codes:
335999 - All Other Miscellaneous Electrical
Equipment and Component Manufacturing
33211 - Forging and Stamping
US SIC 1987:
3699 - Electrical
Machinery, Equipment, and Supplies, Not Elsewhere Classified
346 - Metal
Forgings and Stampings
UK SIC 2007:
2790 - Manufacture
of other electrical equipment
2550 - Forging,
pressing, stamping and roll-forming of metal; powder metallurgy
Business Description
Iselfa
Morsetteria SRL is primarily engaged in manufacture of electrical signalling,
safety or traffic control equipment for motorways, roads or streets, railways
and tramways, inland waterways, ports and harbours and airports; manufacture of
diverse electrical sound or visual signalling apparatus (bells, sirens,
indicator panels, burglar and fire alarms); manufacture of electromagnets
including electromagnetic or permanent magnet chucks, clutches, brakes,
couplings, clamps or lifting heads; manufacture of electrical insulators and
insulating fittings, except of glass or ceramics; manufacture of insulating
fittings for electrical machines or equipment, except of ceramics or plastics;
manufacture of carbon or graphite electrodes; manufacture of electrical conduit
tubing and joints for such tubing, of base metal lined with insulating
material; and manufacture of diverse electrical machines and apparatus
(particle accelerators, signal generators, mine detectors, electrical
detonators.).
|
Corporate Family |
Corporate Structure News: |
|
Iselfa
Morsetteria SRL |
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|
Iselfa Morsetteria SRL |
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Company
Name |
Company
Type |
Location |
Country |
Industry |
Sales |
Employees |
|
|
KARAMTARA ITALY SRL |
Parent |
|
|||||
|
Iselfa Morsetteria SRL |
Subsidiary |
Solbiate Arno, Varese |
Italy |
Electrical Equipment and Appliances Manufacturing |
3.5 |
17 |
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Executive report
|
Board of Directors |
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||||
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Member of the board |
Director/Board Member |
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Executives |
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President |
President |
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Purchasing Manager |
Purchasing Executive |
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Annual Profit
& Loss
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
|
|
Period
Length |
12
Months |
12
Months |
12
Months |
|
Filed
Currency |
EUR |
EUR |
EUR |
|
Exchange
Rate (Period Average) |
0.778237 |
0.71919 |
0.755078 |
|
Consolidated |
No |
No |
No |
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Total income |
3.6 |
4.8 |
5.4 |
|
Net sales |
3.5 |
4.7 |
5.3 |
|
Other operating income |
0.0 |
0.1 |
0.1 |
|
Raw materials and consumables employed |
0.8 |
1.8 |
2.5 |
|
Other expenses |
1.1 |
1.3 |
1.4 |
|
Total payroll costs |
0.9 |
1.0 |
0.9 |
|
Fixed asset depreciation and amortisation |
0.1 |
0.2 |
0.2 |
|
Other operating costs |
0.0 |
0.1 |
0.1 |
|
Net operating income |
0.6 |
0.5 |
0.2 |
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Total financial income |
0.0 |
0.0 |
0.0 |
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Total expenses |
0.0 |
0.0 |
0.0 |
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Profit before tax |
0.6 |
0.5 |
0.2 |
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Extraordinary result |
0.0 |
- |
0.0 |
|
Profit after extraordinary items and before tax |
0.6 |
0.5 |
0.2 |
|
Total taxation |
0.2 |
0.2 |
0.1 |
|
Net profit |
0.4 |
0.3 |
0.1 |
Annual Balance Sheet
Financials in: USD (mil)
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
|
|
Filed
Currency |
EUR |
EUR |
EUR |
|
Exchange
Rate |
0.7566 |
0.770327 |
0.745406 |
|
Consolidated |
No |
No |
No |
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|
|
|
|
|
Total stockholders equity |
3.0 |
2.6 |
2.5 |
|
Provision for pensions |
0.5 |
0.5 |
0.4 |
|
Mortgages and loans |
0.1 |
0.1 |
0.2 |
|
Trade creditors |
1.1 |
0.6 |
1.7 |
|
Bank loans and overdrafts |
0.0 |
0.0 |
0.4 |
|
Other current liabilities |
0.1 |
0.2 |
0.4 |
|
Accruals and deferred income |
0.1 |
0.2 |
0.2 |
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Total current liabilities |
1.4 |
1.0 |
2.7 |
|
Total liabilities (including net worth) |
5.0 |
4.2 |
5.8 |
|
Intangibles |
0.0 |
0.0 |
0.1 |
|
Total tangible fixed assets |
1.8 |
1.8 |
1.9 |
|
Receivables due after 1 year |
0.0 |
- |
- |
|
Total non-current assets |
1.8 |
1.8 |
2.0 |
|
Net stocks and work in progress |
1.2 |
1.2 |
1.1 |
|
Trade debtors |
1.3 |
0.6 |
2.2 |
|
Other receivables |
- |
0.1 |
0.2 |
|
Cash and liquid assets |
0.7 |
0.4 |
0.4 |
|
Accruals |
0.0 |
0.0 |
0.0 |
|
Total current assets |
3.2 |
2.3 |
3.8 |
|
Total assets |
5.0 |
4.2 |
5.8 |
Annual Ratios
Financials in: USD (mil)
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
|
|
Period
Length |
12
Months |
12
Months |
12
Months |
|
Filed
Currency |
EUR |
EUR |
EUR |
|
Exchange
Rate |
0.7566 |
0.770327 |
0.745406 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Current ratio |
2.40 |
2.30 |
1.40 |
|
Quick ratio |
1.50 |
1.10 |
1.00 |
|
Current liabilities to net worth |
0.00% |
0.00% |
0.01% |
|
Sales per employee |
0.16 |
- |
0.25 |
|
Profit per employee |
0.03 |
- |
- |
|
Average wage per employee |
0.04 |
- |
0.04 |
|
Net worth |
3.0 |
2.6 |
2.5 |
|
Number of employees |
17 |
- |
- |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.23 |
|
|
1 |
Rs.100.79 |
|
Euro |
1 |
Rs.83.29 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIS |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.