MIRA
INFORM REPORT
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Report Date : |
19.03.2014 |
IDENTIFICATION DETAILS
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Name : |
ECOPROGETTI SRL |
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Registered Office : |
Viale Dell' Industria E Dell'artigianato 27/C, Carmignano Di Brenta, 35010 |
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Country : |
Italy |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
09.03.1998 |
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Com. Reg. No.: |
03324760283 |
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Legal Form : |
Private Independent |
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Line of Business : |
Subject is 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 |
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No. of Employees : |
25 |
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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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 higher. 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 133% of GDP in 2013, but
investor concerns about Italy and the broader euro-zone crisis eased in 2013,
bringing down Italy's borrowing costs on sovereign government debt from
euro-era. The government still faces pressure from investors and European partners
to sustain its efforts to address Italy's long-standing structural impediments
to growth, such as labor market inefficiencies and widespread tax evasion. In
2013 economic growth and labor market conditions deteriorated, with growth at
-1.8% and unemployment rising to 12.4%, with youth unemployment around 40%.
Italy's GDP is now 8% below its 2007 pre-crisis level.
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Source
: CIA |
Company name and address
ECOPROGETTI SRL
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Business Description
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Ecoprogetti 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, etc.). |
Industry
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Industry |
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ANZSIC 2006: |
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ISIC Rev 4: |
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NACE Rev 2: |
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NAICS 2012: |
335999 - All Other Miscellaneous Electrical
Equipment and Component Manufacturing |
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UK SIC 2007: |
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US SIC 1987: |
3699 - Electrical Machinery, Equipment, and
Supplies, Not Elsewhere Classified |
Key Executives
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Name |
Title |
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Domenico Sartore |
Sole administrator |
Registered No.(ITA): 03324760283
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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ANZSIC 2006 Codes: |
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2439 |
- |
Other Electrical Equipment Manufacturing |
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ISIC Rev 4 Codes: |
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2790 |
- |
Manufacture of other electrical equipment |
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NACE Rev 2 Codes: |
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2790 |
- |
Manufacture of other electrical equipment |
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NAICS 2012 Codes: |
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335999 |
- |
All Other Miscellaneous Electrical Equipment and Component
Manufacturing |
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US SIC 1987: |
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3699 |
- |
Electrical Machinery, Equipment, and Supplies, Not Elsewhere
Classified |
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UK SIC 2007: |
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2790 |
- |
Manufacture of other electrical equipment |
Ecoprogetti 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, etc.);
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, etc.).
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Executives Report
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Executives |
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Sole administrator |
Owner/Proprietor |
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Annual Profit & Loss
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31-Dec-2012 |
31-Dec-2011 |
31-Dec-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 |
0.71919 |
0.755078 |
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Consolidated |
No |
No |
No |
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Total income |
7.6 |
17.1 |
18.0 |
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Net sales |
7.9 |
14.8 |
14.9 |
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Other operating income |
0.5 |
1.2 |
0.4 |
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Raw materials and consumables employed |
1.9 |
9.4 |
13.8 |
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Other expenses |
2.1 |
3.7 |
1.9 |
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Total payroll costs |
1.2 |
1.2 |
1.3 |
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Fixed asset depreciation and amortisation |
0.5 |
0.5 |
0.3 |
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Other operating costs |
0.1 |
0.4 |
0.0 |
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Net operating income |
1.8 |
1.9 |
0.6 |
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Total financial income |
0.0 |
0.0 |
0.1 |
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Total expenses |
0.2 |
0.1 |
0.0 |
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Profit before tax |
1.7 |
1.7 |
0.6 |
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Extraordinary result |
-1.6 |
0.2 |
-0.3 |
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Profit after extraordinary items and before tax |
0.0 |
1.9 |
0.4 |
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Total taxation |
0.1 |
0.6 |
0.2 |
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Net profit |
- |
1.4 |
0.2 |
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Net loss |
0.1 |
- |
- |
Annual Balance Sheet
Financials in: USD (mil)
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31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate |
0.7566 |
0.770327 |
0.745406 |
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Consolidated |
No |
No |
No |
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Total stockholders equity |
2.7 |
2.7 |
1.4 |
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Provision for risks |
0.4 |
0.4 |
0.5 |
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Provision for pensions |
0.3 |
0.2 |
0.2 |
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Mortgages and loans |
- |
- |
2.6 |
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Other long-term liabilities |
- |
1.1 |
- |
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Trade creditors |
2.9 |
6.8 |
6.0 |
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Bank loans and overdrafts |
1.2 |
2.6 |
- |
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Other current liabilities |
3.0 |
2.4 |
1.8 |
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Accruals and deferred income |
0.1 |
0.1 |
0.1 |
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Total current liabilities |
7.1 |
12.0 |
7.9 |
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Total liabilities (including net worth) |
10.5 |
16.3 |
12.5 |
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Intangibles |
2.2 |
1.6 |
1.3 |
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Total tangible fixed assets |
1.8 |
3.3 |
3.7 |
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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 |
- |
- |
0.0 |
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Total non-current assets |
4.1 |
4.9 |
5.1 |
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Finished goods |
1.7 |
2.5 |
2.3 |
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Net stocks and work in progress |
2.3 |
3.0 |
2.4 |
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Trade debtors |
2.7 |
5.7 |
3.7 |
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Other receivables |
0.6 |
0.8 |
0.7 |
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Cash and liquid assets |
0.8 |
0.1 |
0.7 |
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Marketable securities |
0.0 |
1.8 |
0.0 |
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Accruals |
0.1 |
0.0 |
0.0 |
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Total current assets |
6.4 |
11.4 |
7.5 |
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Total assets |
10.5 |
16.3 |
12.5 |
Annual Ratios
Financials in: USD (mil)
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31-Dec-2012 |
31-Dec-2011 |
31-Dec-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 |
0.770327 |
0.745406 |
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Consolidated |
No |
No |
No |
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Current ratio |
0.90 |
1.00 |
0.90 |
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Quick ratio |
0.60 |
0.70 |
0.60 |
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Current liabilities to net worth |
0.03% |
0.05% |
0.06% |
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Sales per employee |
0.28 |
0.46 |
0.30 |
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Profit per employee |
0.00 |
0.06 |
0.01 |
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Average wage per employee |
0.04 |
0.04 |
0.03 |
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Net worth |
2.7 |
2.7 |
1.4 |
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Number of employees |
22 |
23 |
37 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.60.95 |
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1 |
Rs.101.37 |
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Euro |
1 |
Rs.84.89 |
INFORMATION DETAILS
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Report Prepared
by : |
NNA |
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.