MIRA INFORM REPORT
|
Report Date : |
18.09.2008 |
IDENTIFICATION
DETAILS
|
Name : |
CADCHOD S.R.L. |
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|
|
|
Registered Office : |
Via Spadari, 7, 20123- Milano(MI) |
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|
Country : |
Italy |
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|
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|
Financials (as on) : |
31.12.2007 |
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|
Date of Incorporation : |
07.01.1998 |
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|
|
|
Legal Form : |
Limited Liability Company |
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|
|
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Line of Business : |
Wholesale of Watches, Clocks and Jewellery. |
RATING &
COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
Status : |
Moderate |
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|
|
|
Payment Behaviour : |
Slow |
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|
|
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Litigation : |
Clear |
name & address
Cadchod S.r.l.
Via Spadari, 7
20123 - Milano (MI) -IT-
SUMMARY
|
Fiscal Code |
: |
12235880155 |
|
Legal Form |
: |
Limited liability company |
|
Start of Activities |
: |
07/01/1998 |
|
Patrimonial Consistence |
: |
400.000 Eur |
|
Turnover Range |
: |
3.000.000/3.750.000 Eur |
|
Number of Employees |
: |
from 1 to 5 |
CREDIT ANALYSIS
|
Score |
: |
Risk medium |
|
Creditworthness Rate |
: |
Modest |
|
|
|
The financial situation is not very balanced-Credit is possible but |
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|
|
following the future developments. |
ACTIVITY
Wholesale of watches, clocks and jewellery.
LEGAL DATA
Legal Form : Limited liability company
|
Fiscal Code : 12235880155 |
|
Chamber of Commerce no. : 1542181 of Milano since 13/11/1997 |
|
Firms' Register : MI-1997-295336 since 11/11/1997 |
|
V.A.T. Code : 12235880155 |
|
Establishment Date |
: 18/09/1997 |
|
|
Start of Activities |
: 07/01/1998 |
|
|
Legal Duration Date |
: 31/12/2030 |
|
|
Nominal Capital |
: 19.800 |
Eur |
|
Subscribed Capital |
: 19.800 |
Eur |
|
Paid up Capital |
: 19.800 |
Eur |
MEMBERS
|
Yekutiel |
Ron |
|
Born in Kfar Saba |
on 16/04/1958 |
- Fiscal Code : YKTRNO58D16Z226I |
|
Residence : |
Via |
Arzaga |
, 24 |
- 20146 |
Milano |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Sole Director |
01/03/2002 |
|
|
No Protests registered.
COMPANIES CONNECTED TO MEMBERS *
*checkings have been performed on a national scale.
*In this module are listed the companies in which members hold or held
positions.
|
YEKUTIEL |
RON |
|
Company Style |
Legal Seat |
Fiscal Code |
Position |
Position Status |
Firm Status |
|
YEKUTIEL RON |
Milano (MI) - IT - |
YKTRNO58D16Z226I |
Proprietor |
Dismiss |
Ceased |
The indication "REGISTERED" as Firm Status could refere to
Firms in Liquidation, Active, Inactive, etc.
For more information, in this case, we advise to request further
investigations.
CAPITAL SHAREHOLDERS
|
Style / Name |
Seat / Address |
Fiscal Code |
Owned Shares |
% of Ownership |
|
Societa' Italiana Di Revisione E Fiducia Ria S.i.re.f.s.p.a In For Ma
Abbreviat |
Milano - IT - |
01840910150 |
9.702 .Eur |
49,00 |
|
Sanpaolo Fiduciaria S.p.a. O, Piu' Breve Mente, Sanpaolofid S.p.a. |
Milano - IT - |
08503890157 |
10.098 .Eur |
51,00 |
DIRECT PARTICIPATIONS
The Company under review has no participations in other Companies.
STRUCTURE AND COMPANY ACTIVITY
In order to carry out its activities the firm uses the following
locations:
|
- |
Legal and operative seat |
|
in : |
|
|
|
|
|
Via |
Spadari |
, 7 |
- 20123 - |
Milano |
(MI) |
- IT - |
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|
|
|
PHONE |
: 02/86915700 |
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|
|
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Employees |
: 3 |
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|
|
|
Fittings and Equipment |
for a value of
320.000 |
Eur |
|
|
|
|
Stocks |
for a value of
1.270.000 |
Eur |
The firm has a direct commercial organization
Sales area on a regional scale.
PAYMENTS ANALYSIS
The average term of debts to suppliers is high compared with that
of the sector.
PAYMENTS SCORE : - No insolvency
CREDIT REVOLVING
During last Year, the subject of inquiry has not been monitored by our
company.
PROTESTS
Protests checking on the subject firm has given a negative result.
LEGAL PROCEDURES
None reported, standing to the last received edition of the Official
Publications.
IMMOVABLES *
*No specific (mortgage/cadastrial registrations) inspections have been
requested.
None reported in the name of the Firm.
FINANCIAL AND ECONOMICAL ANALYSIS
Subject is active since 1998
During the last years, it achieved profits (r.o.e. 15,7% on 2007) with a
stable trend in the turnover.
The return on Investment in the last financial year was positive (1,73%)
and in line with the sector's average.
Short-term debts volume if compared to net worth, as it comes out from
the total indebtedness (10,9) which tends downward.
and above the average.
Liquidity is however good.
FINANCIAL DATA
|
Complete balance-sheet for the year as at |
31/12/2007 |
(in Eur |
x 1 ) |
|
Item Type |
Amount |
Source |
|
Sales |
3.729.747 |
filed balance sheet |
|
Profit (Loss) for the period |
51.627 |
filed balance sheet |
|
Complete balance-sheet for the year as at |
31/12/2006 |
(in Eur |
x 1 ) |
|
Item Type |
Amount |
Source |
|
Sales |
3.725.025 |
filed balance sheet |
|
Profit (Loss) for the period |
43.464 |
filed balance sheet |
|
Complete balance-sheet for the year as at |
31/12/2005 |
(in Eur |
x 1 ) |
|
Item Type |
Amount |
Source |
|
Sales |
2.687.277 |
filed balance sheet |
|
Profit (Loss) for the period |
6.068 |
filed balance sheet |
|
Complete balance-sheet for the year as at |
31/12/2004 |
(in Eur |
x 1 ) |
|
Item Type |
Amount |
Source |
|
Sales |
1.758.421 |
filed balance sheet |
|
Profit (Loss) for the period |
45.727 |
filed balance sheet |
BALANCE SHEETS
From our constant monitoring of the Public Administration, actually, no
more recent balance sheets result to be filed.
|
Balance Sheet as
at 31/12/2007 - Months 12 - Currency Eur - Amounts x 1 |
|
Balance Sheet as
at 31/12/2006 - Months 12 - Currency Eur - Amounts x 1 |
|
Years |
|
|
2007 |
2006 |
|
|
BALANCE SHEET
ACCOUNTS |
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. |
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ASSETS |
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CREDITS TO SHAREHOLDERS |
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|
|
|
|
FIXED ASSETS ( NET ) |
|
|
20.025 |
39.833 |
|
. Intangible assets |
|
|
3.518 |
6.204 |
|
. Tangible fixed assets |
|
|
16.507 |
33.629 |
|
. . Land and buildings |
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. . Plants, Equipm.and Machinery |
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. Long-term Investments |
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. . Financial loans |
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. . Own shares |
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|
|
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CURRENT ASSETS |
|
|
4.070.670 |
3.645.314 |
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. Stock |
|
|
1.264.810 |
800.379 |
|
. Credits |
|
|
2.761.571 |
2.606.535 |
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. . Credits to clients |
|
|
2.761.571 |
2.606.535 |
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. . Other credits |
|
|
|
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. Short-term financial assets |
|
|
|
|
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. Liquid assets |
|
|
44.289 |
238.400 |
|
ACCRUED INCOME-DEFERR. ASSETS |
|
|
4.988 |
5.959 |
|
TOTAL ASSETS |
|
|
4.095.683 |
3.691.106 |
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. |
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LIABILITIES |
|
|
|
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NET WORTH |
|
|
328.815 |
277.188 |
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. Company's capital |
|
|
19.800 |
19.800 |
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. Reserves |
|
|
257.388 |
213.924 |
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. Reserves company's own shares |
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|
|
|
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. Retained profits (losses) |
|
|
|
|
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. Profit (loss) |
|
|
51.627 |
43.464 |
|
PROVISION FOR RISKS AND LOSSES |
|
|
51.822 |
27.950 |
|
SEVERANCE INDEMNITY FUND |
|
|
26.075 |
20.398 |
|
DEBTS |
|
|
3.688.902 |
3.365.472 |
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. Financial M/L terms |
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|
|
|
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. . Financial M/L term banks |
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. . Financial M/L bonds |
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. . Other financial M/L debts |
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. Financial short-term debts |
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. . Financial short-term banks |
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. . Financial short-term bonds |
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. . Other financial short-term debts |
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. M/L term debts to suppliers |
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. Short-term debts to suppliers |
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. Sundry M/L debts |
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. Sundry short-term debts |
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ACCRUED EXPENSE |
|
|
69 |
98 |
|
TOTAL LIABILITIES |
|
|
4.095.683 |
3.691.106 |
PROFIT AND LOSS ACCOUNTS
|
OUTPUT VALUE |
|
|
3.729.747 |
3.725.025 |
|
. Revenues from sales/services |
|
|
3.729.747 |
3.725.025 |
|
. Change of stock (products) |
|
|
|
|
|
OPERATING EXPENSES |
|
|
3.658.690 |
3.632.028 |
|
. Purchasing expenses |
|
|
3.802.290 |
3.359.728 |
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. Change of stock (raw material) |
|
|
-464.431 |
7.668 |
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. Expenses from services |
|
|
155.609 |
135.448 |
|
. Expenses from leasing |
|
|
29.705 |
29.554 |
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. General expenses/sundry charges |
|
|
4.241 |
1.961 |
|
. Staff expenses |
|
|
97.017 |
59.027 |
|
. Depreciation/Devaluation costs |
|
|
34.259 |
38.642 |
|
FINANCIAL REVENUES (CHARGES) |
|
|
26.232 |
3.447 |
|
. Financial charges |
|
|
24.634 |
3.009 |
|
. Financial revenues |
|
|
1.598 |
438 |
|
FINANCIAL ASSETS CORRECTION |
|
|
|
|
|
EXTRAORDINARY FINANCIAL REVENUES (CHARGES) |
|
|
-130 |
3 |
|
PROFIT (LOSS) FOR THE PERIOD |
|
|
97.159 |
96.447 |
|
TAX |
|
|
45.532 |
52.983 |
|
CORRECT./ALLOCAT. FISCAL RULE |
|
|
|
|
|
NET PROFIT (LOSS) |
|
|
51.627 |
43.464 |
RATIOS
|
|
Item |
O.V. |
as at 31/12/2007 |
as at 31/12/2006 |
Sector Average |
|
Fixed assets ratio |
Units |
=> 1 |
20,67 |
9,93 |
2,80 |
|
Net Short-term indebtedness |
Units |
- 1 |
10,90 |
10,92 |
4,37 |
|
Current ratio |
Units |
=> 1 |
1,12 |
1,11 |
1,19 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
=> 1 |
0,77 |
0,87 |
0,88 |
|
Return on Sales |
% |
|
2,30 |
2,20 |
1,94 |
|
Average stock waiting period |
dd |
|
122,07 |
77,32 |
56,98 |
|
Credits to clients average term |
dd |
|
266,54 |
251,89 |
126,32 |
|
Debts to suppliers average term |
dd |
|
330,00 |
340,00 |
140,21 |
|
Net financial revenues/ charges incidence |
% |
|
0,70 |
0,09 |
- 0,88 |
|
Labour cost incidence |
% |
|
2,60 |
1,58 |
7,84 |
O.V. = Optimal Value. When not present refer to the sector's.
A coloured item indicates the opinion of the rate during the last
financial year
(green=good; orange=not optimal; red=insufficient; n.c.=not computable)
MARKET / TERRITORY DATA
|
Population living in the province |
: |
3.839.216 |
|
Population living in the region |
: |
9.393.092 |
|
Number of families in the region |
: |
3.858.736 |
Monthly family expences average in the region (in Eur.) :
|
- per food products |
: |
460 |
|
- per non food products |
: |
2.090 |
|
- per energy consume |
: |
114 |
SECTOR DATA
The values are calculated on a base of 1.938 significant companies.
The companies cash their credits on an average of 126 dd.
The average duration of suppliers debts is about 140 dd.
The sector's profitability is on an average of 1,94%.
The labour cost affects the turnover in the measure of 7,84%.
Goods are held in stock in a range of 56 dd.
The difference between the sales volume and the resources used to
realize it is about 1,41.
The employees costs represent the 7,97% of the production costs.
STATISTICAL DETRIMENTAL DATA
Statistcally the trade activity shows periods of crisis.
The area is statistically considered lowly risky.
In the region 50.886 protested subjects are found; in the province they
count to 24.765.
The insolvency index for the region is 0,55, while for the province it
is 0,66.
Total Bankrupt companies in the province : 22.523.
Total Bankrupt companies in the region : 39.612.
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.46.71 |
|
UK Pound |
1 |
Rs.83.57 |
|
Euro |
1 |
Rs.65.90 |
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 |
Unfavourable & favourable factors carry similar weight in credit
consideration. 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 |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)