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Report Date : |
21.01.2014 |
IDENTIFICATION DETAILS
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Name : |
FERRARO SPA |
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Registered Office : |
Via |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
03.01.1955 |
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Com. Reg. No.: |
01044680187 |
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Legal Form : |
Public Independent |
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Line of Business : |
Manufacture of machinery for textile, apparel and leather
production |
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No. of Employees : |
32 |
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 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 – September 30, 2013
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Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
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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 |
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Source
: CIA |
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FERRARO SPA |
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Ferraro SpA is primarily engaged in manufacture of textile machinery (machines for preparing, producing, extruding, drawing, texturing or cutting man-made textile fibres, materials or yarns; machines for preparing textile fibres: cotton gins, bale breakers, garnetters, cotton spreaders, wool scourers, wool carbonisers, combs, carders, roving frames, etc.; spinning machines; machines for preparing textile yarns: reelers, warpers and related machines; weaving machines (looms) including hand looms; knitting machines; machines for making knotted net, tulle, lace, braid, etc.); manufacture of auxiliary machines or equipment for textile machinery (dobbies, Jacquards, automatic stop motions, shuttle changing mechanisms, spindles and spindle flyers, etc.); manufacture of machinery for fabric processing (machinery for washing, bleaching, dyeing, dressing, finishing, coating or impregnating textile fabrics; manufacture of machines for reeling, unreeling, folding, cutting or pinking textile fabrics); manufacture of laundry machinery (ironing machines including fusing presses; laundry-type washing and drying machines; dry cleaning machines); manufacture of sewing machines, sewing machine heads and sewing machine needles; manufacture of machines for producing or finishing felt or nonwovens; manufacture of leather machines (machinery for preparing, tanning or working hides, skins or leather; and machinery for making or repairing footwear or other articles of hides, skins, leather or furskins). |
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Industry |
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ANZSIC 2006: |
2469 - Other Specialised Machinery and Equipment Manufacturing |
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ISIC Rev 4: |
2826 - Manufacture of machinery for textile, apparel and leather production |
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NACE Rev 2: |
2894 - Manufacture of machinery for textile, apparel and leather production |
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NAICS 2012: |
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2894 - Manufacture of machinery for textile, apparel and leather production |
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US SIC 1987: |
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Registered No.(ITA): 01044680187
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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Ferraro SpA is primarily engaged in manufacture of textile machinery (machines for preparing, producing, extruding, drawing, texturing or cutting man-made textile fibres, materials or yarns; machines for preparing textile fibres: cotton gins, bale breakers, garnetters, cotton spreaders, wool scourers, wool carbonisers, combs, carders, roving frames, etc.; spinning machines; machines for preparing textile yarns: reelers, warpers and related machines; weaving machines (looms) including hand looms; knitting machines; machines for making knotted net, tulle, lace, braid, etc.); manufacture of auxiliary machines or equipment for textile machinery (dobbies, Jacquards, automatic stop motions, shuttle changing mechanisms, spindles and spindle flyers, etc.); manufacture of machinery for fabric processing (machinery for washing, bleaching, dyeing, dressing, finishing, coating or impregnating textile fabrics; manufacture of machines for reeling, unreeling, folding, cutting or pinking textile fabrics); manufacture of laundry machinery (ironing machines including fusing presses; laundry-type washing and drying machines; dry cleaning machines); manufacture of sewing machines, sewing machine heads and sewing machine needles; manufacture of machines for producing or finishing felt or nonwovens; manufacture of leather machines (machinery for preparing, tanning or working hides, skins or leather; and machinery for making or repairing footwear or other articles of hides, skins, leather or furskins).
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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 |
15.2 |
17.0 |
12.9 |
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Net sales |
14.3 |
16.8 |
11.4 |
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Other operating income |
0.4 |
0.5 |
0.4 |
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Raw materials and consumables employed |
7.6 |
8.4 |
6.2 |
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Other expenses |
4.5 |
5.1 |
3.9 |
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Total payroll costs |
2.4 |
2.4 |
2.3 |
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Fixed asset depreciation and amortisation |
0.4 |
0.4 |
0.4 |
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Other operating costs |
0.1 |
0.2 |
0.1 |
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Net operating income |
0.3 |
0.6 |
-0.1 |
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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 |
0.3 |
0.6 |
-0.1 |
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Extraordinary result |
0.1 |
-0.1 |
-0.1 |
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Profit after extraordinary items and before tax |
0.3 |
0.5 |
-0.1 |
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Total taxation |
0.2 |
0.4 |
0.1 |
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Net profit |
0.1 |
0.2 |
- |
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Net loss |
- |
- |
0.2 |
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Annual Balance Sheet |
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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 |
6.8 |
7.0 |
8.0 |
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Provision for risks |
0.1 |
0.0 |
0.0 |
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Provision for pensions |
1.1 |
1.1 |
1.1 |
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Mortgages and loans |
0.8 |
0.7 |
1.3 |
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Other long-term liabilities |
0.0 |
- |
0.0 |
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Trade creditors |
3.7 |
4.8 |
4.8 |
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Bank loans and overdrafts |
0.3 |
- |
- |
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Other current liabilities |
0.8 |
0.7 |
1.1 |
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Accruals and deferred income |
0.1 |
0.2 |
0.1 |
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Total current liabilities |
4.9 |
5.6 |
5.9 |
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Total liabilities (including net worth) |
13.6 |
14.5 |
16.4 |
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Intangibles |
0.3 |
0.4 |
0.4 |
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Buildings |
4.2 |
4.6 |
5.1 |
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Total tangible fixed assets |
4.7 |
4.7 |
5.3 |
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Long-term investments |
- |
- |
0.0 |
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Total financial assets |
- |
- |
0.0 |
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Receivables due after 1 year |
0.1 |
0.0 |
0.0 |
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Total non-current assets |
5.1 |
5.1 |
5.7 |
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Finished goods |
0.7 |
0.3 |
0.7 |
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Net stocks and work in progress |
1.7 |
1.4 |
2.1 |
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Trade debtors |
3.8 |
4.8 |
4.7 |
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Other receivables |
0.4 |
0.2 |
0.6 |
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Cash and liquid assets |
2.5 |
3.1 |
3.3 |
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Accruals |
0.0 |
0.0 |
0.0 |
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Total current assets |
8.5 |
9.4 |
10.7 |
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Total assets |
13.6 |
14.5 |
16.4 |
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Annual Ratios |
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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 |
1.70 |
1.70 |
1.80 |
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Quick ratio |
1.40 |
1.40 |
1.40 |
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Current liabilities to net worth |
0.01% |
0.01% |
0.01% |
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Sales per employee |
0.32 |
0.38 |
0.24 |
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Profit per employee |
0.01 |
0.01 |
0.00 |
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Average wage per employee |
0.05 |
0.05 |
0.05 |
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Net worth |
6.8 |
7.0 |
8.0 |
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Number of employees |
32 |
33 |
35 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.63 |
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1 |
Rs.101.25 |
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Euro |
1 |
Rs.83.42 |
INFORMATION DETAILS
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Report Prepared
by : |
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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.