MIRA
INFORM REPORT
|
Report Date : |
05.04.2011 |
IDENTIFICATION DETAILS
|
Name : |
T.E.CO. S.R.L. |
|
|
|
|
Registered Office : |
Via Statale Sud,117 41037- Mirandola(MO) |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2009 |
|
|
|
|
Date of Incorporation : |
13.03.2001 |
|
|
|
|
Com. Reg. No.: |
PR-2001-9752 since 27/03/2001 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacture of metal doors, windows and their frames, shutters and
gates |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
160.000 - Eur |
|
Status : |
Good |
|
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 – December 31, 2010
|
Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
|
|
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Name and address
T.e.co. S.r.l.
Via Statale Sud,117
41037- Mirandola(MO)-IT-
Summary
|
Fiscal Code |
: |
02168780340 |
|
Legal Form |
: |
Limited liability company |
|
start of Activities |
: |
13/03/2001 |
|
Equity |
: |
500.000 Eur |
|
|
: |
3.750.000/5.000.000 Eur |
|
Number of Employees |
: |
fom 6 to 10 |
Credit Analysis
|
Credit Opinion |
: |
160.000 - Eur |
Activity
Manufacture of metal doors, windows and their frames, shutters and gates
Legal Data
Legal Form : Limited liability company
|
Fiscal Code : 02168780340 |
|
Foreign Trade Reg. no. : MO043503 since 30/07/2010 |
|
Chamber of Commerce no. : 418137 of |
|
Chamber of Commerce no. : 342627 of |
|
Firms' Register : BO-2002-11578 since 26/02/2002 |
|
Firms' Register : PR-2001-9752 since 27/03/2001 |
|
V.A.T. Code : 02168780340 |
|
Foundation date |
: 02/03/2001 |
|
|
Establishment date |
: 02/03/2001 |
|
|
Start of Activities |
: 13/03/2001 |
|
|
Legal duration |
: 31/12/2050 |
|
|
Nominal Capital |
: 50.000 |
Eur |
|
Subscribed Capital |
: 50.000 |
Eur |
|
Paid up Capital |
: 50.000 |
Eur |
Members
|
|
Pellacani |
Mirco |
|
|
|
Born in |
(MO) |
on 13/08/1966 |
- Fiscal Code : PLLMRC66M13F257P |
|
|
|
Residence : |
Via |
|
, 15 |
- 41037 |
Mirandola |
(MO) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Sole Director |
30/10/2006 |
|
|
|
|
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 have
holded positions.
|
|
PELLACANI |
MIRCO |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
BIORE' S.R.L. |
Mirandola (MO) - IT - |
02128120348 |
Sole Director |
Active |
Registered |
|
IDRAULICA PELLACANI E CI. S.N.C. |
Mirandola (MO) - IT - |
01006110363 |
Partner |
Withdrawn |
Ceased |
|
IDRAULICA PELLACANI DI PELLACANI MIRCO |
Mirandola (MO) - IT - |
PLLMRC66M13F257P |
Proprietor |
Withdrawn |
Ceased |
The indication "REGISTERED" as Firm Status could refer to
Firms in Liquidation, Active, Inactive, etc.
For more information, in this case, we advise to request further
investigations.
Capital Shareholders
Shareholders' list as at date of data collection:
|
Firm's Style / Name |
Seat / Residence |
Fiscal Code |
Owned Shares |
% Ownership |
|
Biore' S.r.l. |
Mirandola - IT - |
02128120348 |
25.000 .Eur |
50,00 |
|
Pellacani Mirco |
Mirandola - IT - |
PLLMRC66M13F257P |
25.000 .Eur |
50,00 |
Direct Participations
The Company under review has no participations in other Companies.
Firm's location and structure
In order to carry out its activities the firm uses the following
locations:
|
- |
Legal and operative seat |
|
|
|
|
|
|
Via |
Statale Sud |
, 117 |
- 41037 |
- Mirandola |
(MO) |
- IT - |
|
|
|
|
PHONE |
: 0535/671309 |
|
- |
Branch |
(Factory ) |
since 01/04/2008 |
|
|
|
|
|
Via |
Aperte |
, 348/A |
- 41038 |
- San Felice sul Panaro |
(MO) |
- IT - |
|
- |
Branch |
(Store ) |
since 01/02/2010 |
|
|
|
|
|
Via |
Lavacchi |
, 1592 |
- 41038 |
- San Felice sul Panaro |
(MO) |
- IT - |
|
|
|
|
Employees |
: 9 |
|
Fittings and Equipment for a value of 24.000 |
Eur |
|
Stocks for a value of 200.000 |
Eur |
Historical Information and/or Firm's Status
EX-MEMBERS / EX-POSITIONS:
|
|
Pellacani |
Mirco |
|
|
|
Born in |
on 13/08/1966 |
- Fiscal Code : PLLMRC66M13F257P |
|
|
|
Residence : |
Via |
|
, 15 |
- 41037 |
Mirandola |
(MO) |
- IT - |
|
Ex-Postions |
|
Managing Director |
|
Director |
|
|
LANDINI ALESSANDRO |
|
|
|
|
Born in IMOLA |
on 18/12/1970 |
- Fiscal Code : LNDLSN70T18E289T |
|
|
|
Residence : |
Via |
MANFREDI |
, 2/A |
- 40026 |
Imola |
(BO) |
- IT - |
|
Ex-Postions |
|
Director |
|
|
Balloni |
Graziano |
|
|
|
Born in |
on 08/08/1947 |
- Fiscal Code : BLLGZN47M08D612E |
|
|
|
Residence : |
Via |
Giuseppe Marchini |
, 16 |
- 59100 |
|
( |
- IT - |
|
Ex-Postions |
|
Director |
|
|
GALLIGANI |
PIER ANGELO |
|
|
|
Born in |
on 17/03/1954 |
- Fiscal Code : GLLPNG54C17D612F |
|
|
|
Residence : |
Via |
VIANI |
, 16 |
- 50014 |
|
(FI) |
- IT - |
|
Ex-Postions |
|
Director |
|
|
LEJEUNE |
FRANCESCO |
|
|
|
Born in ROMA |
on 07/09/1950 |
- Fiscal Code : LJNFNC50P07H501J |
|
|
|
Residence : |
Via |
MODIGLIANI |
, 19 |
- 50100 |
|
(FI) |
- IT - |
|
Ex-Postions |
|
Director |
|
|
LO PRESTI |
|
|
|
|
Born in |
on 09/01/1957 |
- Fiscal Code : LPRRSR57A09F158O |
|
|
|
Residence : |
Via |
DELLA GRILLAIA |
, 15 |
- 50100 |
|
(FI) |
- IT - |
|
Ex-Postions |
|
Director |
|
|
SANTOJANNI |
CRISTINA |
|
|
|
Born in |
on 04/02/1972 |
- Fiscal Code : SNTCST72B04G337D |
|
|
|
Residence : |
Via |
EINSTEIN |
, 14 |
- 43100 |
|
(PR) |
- IT - |
|
Ex-Postions |
|
Director |
|
|
LANDINI UMBERTO |
|
|
|
|
Born in IMOLA |
on 26/02/1940 |
- Fiscal Code : LNDMRT40B26E289X |
|
|
|
Residence : |
Via |
DON MINZONI |
, 6 |
- 40050 |
Dozza |
(BO) |
- IT - |
|
Ex-Postions |
|
Managing Director |
|
Director |
|
Sole Director |
|
Board Chairman |
Protests
Protests checking on the subject firm has given a negative result.
Legal Procedures
None reported, standing to the latest received edition of the Official
Publications.
Financial and Economical Analysis
Subject is active since 2001
Balance sheets for the years 2007, 2008 and 2009 were analyzed.
During the last years, it achieved profits (r.o.e. 46,84% on 2009) with
a remarkable upward trend (+43,4% on 2009 compared to 2008 and +1,94% on 2008
compared to 2007).
The operating result in 2009 was positive (15,45%) and in line with the
sector's average.
The amount of the operating result is equal to Eur. 340.643 ,showing
stability in respect to the value of 2008.
During the latest financial year the gross operating margin amounted to
Eur. 390.197 , stable if compared to the year before.
The financial status of the company is fairly balanced with an
indebtedness level of 1,44 with an improving trend as on the decrease.
The equity capital is equal to Eur. 477.522 , rising by 88,09%.
Eur. 1.687.264 is the amount of total debts, both commercial and of
different nature, , a more or less stable value.
Current liquid assets is positive.
The financial management generated a cash flow of Eur. 273.204.
Subordinate employment cost is of Eur. 434.113, i.e. 10,35% on total
production costs. , whereas the incidence of such costs on sales revenues is
equal to 9,52%.
The financial charges do not negatively affect the management, as they
are covered by the incomes.
Financial Data
|
|
|
Complete balance-sheet for the year |
31/12/2009 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
4.562.375 |
|
Profit (Loss) for the period |
223.650 |
|
|
|
Complete balance-sheet for the year |
31/12/2008 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
3.181.530 |
|
Profit (Loss) for the period |
156.138 |
|
|
|
Complete balance-sheet for the year |
31/12/2007 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
3.120.797 |
|
Profit (Loss) for the period |
31.120 |
Balance Sheets
From our constant monitoring of the relevant Public Administration
offices, no more recent balance sheets result to have been filed.
|
- Balance Sheet as at 31/12/2009 - 12 Mesi - Currency: Eur - Amounts x
1 |
|
- Balance Sheet as at 31/12/2008 - 12 Mesi - Currency: Eur - Amounts x
1 |
|
- Balance Sheet as at 31/12/2007 - 12 Mesi - Currency: Eur - Amounts x
1 |
|
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|
|
RATIOS |
Value Type |
as at 31/12/2009 |
as at 31/12/2008 |
as at 31/12/2007 |
Sector Average |
|
COMPOSITION ON
INVESTMENT |
|
|
|
|
|
|
Rigidity Ratio |
Units |
0,06 |
0,06 |
0,05 |
0,18 |
|
Elasticity Ratio |
Units |
0,92 |
0,93 |
0,94 |
0,79 |
|
Availability of stock |
Units |
0,09 |
0,07 |
0,10 |
0,15 |
|
Total Liquidity Ratio |
Units |
0,83 |
0,86 |
0,83 |
0,58 |
|
Quick Ratio |
Units |
0,45 |
0,23 |
0,21 |
0,03 |
|
COMPOSITION ON
SOURCE |
|
|
|
|
|
|
Net Short-term indebtedness |
Units |
1,44 |
5,72 |
28,62 |
3,94 |
|
Self Financing Ratio |
Units |
0,22 |
0,11 |
0,02 |
0,15 |
|
Capital protection Ratio |
Units |
0,43 |
0,19 |
0,28 |
0,63 |
|
Liabilities consolidation quotient |
Units |
n.c. |
0,00 |
0,01 |
0,18 |
|
Financing |
Units |
3,53 |
7,77 |
37,28 |
4,88 |
|
Permanent Indebtedness Ratio |
Units |
0,22 |
0,12 |
0,03 |
0,33 |
|
M/L term Debts Ratio |
Units |
n.c. |
0,00 |
0,01 |
0,11 |
|
Net Financial Indebtedness Ratio |
Units |
n.c. |
n.c. |
0,00 |
1,13 |
|
CORRELATION |
|
|
|
|
|
|
Fixed assets ratio |
Units |
3,38 |
2,00 |
0,72 |
1,59 |
|
Current ratio |
Units |
1,21 |
1,05 |
0,98 |
1,16 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
1,09 |
0,97 |
0,87 |
0,90 |
|
Structure's primary quotient |
Units |
3,38 |
1,94 |
0,51 |
0,85 |
|
Treasury's primary quotient |
Units |
0,59 |
0,26 |
0,22 |
0,05 |
|
Rate of indebtedness ( Leverage ) |
% |
461,62 |
883,05 |
3.835,79 |
639,62 |
|
Current Capital ( net ) |
Value |
347.665 |
105.077 |
-31.326 |
209.634 |
|
RETURN |
|
|
|
|
|
|
Return on Sales |
% |
5,99 |
5,73 |
1,38 |
3,83 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
46,84 |
61,50 |
53,90 |
9,53 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
71,94 |
102,27 |
105,36 |
31,52 |
|
Return on Investment ( R.O.I. ) |
% |
15,45 |
13,74 |
4,41 |
6,14 |
|
Return/ Sales |
% |
7,47 |
9,68 |
3,13 |
5,33 |
|
Extra Management revenues/charges incid. |
% |
65,66 |
50,69 |
31,84 |
25,50 |
|
Cash Flow |
Value |
273.204 |
182.306 |
43.116 |
99.985 |
|
Operating Profit |
Value |
340.643 |
308.041 |
97.724 |
139.991 |
|
Gross Operating Margin |
Value |
390.197 |
334.280 |
109.720 |
212.173 |
|
MANAGEMENT |
|
|
|
|
|
|
Credits to clients average term |
Days |
n.c. |
n.c. |
142,66 |
137,01 |
|
Debts to suppliers average term |
Days |
n.c. |
n.c. |
176,00 |
179,72 |
|
Average stock waiting period |
Days |
15,91 |
17,92 |
27,57 |
44,89 |
|
Rate of capital employed return ( Turnover ) |
Units |
2,07 |
1,42 |
1,40 |
1,22 |
|
Rate of stock return |
Units |
22,62 |
20,08 |
13,04 |
8,00 |
|
Labour cost incidence |
% |
9,52 |
8,51 |
4,14 |
19,59 |
|
Net financial revenues/ charges incidence |
% |
0,02 |
- 1,21 |
- 1,24 |
- 1,30 |
|
Labour cost on purchasing expenses |
% |
10,35 |
9,43 |
4,20 |
20,41 |
|
Short-term financing charges |
% |
0,29 |
2,15 |
1,90 |
2,49 |
|
Capital on hand |
% |
48,32 |
70,46 |
70,96 |
81,60 |
|
Sales pro employee |
Value |
506.930 |
1.590.765 |
1.560.398 |
177.753 |
|
Labour cost pro employee |
Value |
48.234 |
135.330 |
64.625 |
33.002 |
Credit Opinion
On the basis of the above mentioned, and the sales volume obtained, we
deem that the maximum exposure for short and medium term transactions ( 90 -
120 days ) could be of:
160.000 Eur.
Market / Territory Data
|
Population living in the province |
: |
659.925 |
|
Population living in the region |
: |
4.151.369 |
|
Number of families in the region |
: |
1.748.359 |
Monthly family expences average in the region (in Eur.) :
|
- per food products |
: |
425 |
|
- per non food products |
: |
2.063 |
|
- per energy consume |
: |
143 |
Sector Data
The values are calculated on a base of 3.053 significant companies.
The companies cash their credits on an average of 137 dd.
The average duration of suppliers debts is about 179 dd.
The sector's profitability is on an average of 3,83%.
The labour cost affects the turnover in the measure of 19,59%.
Goods are held in stock in a range of 44 dd.
The difference between the sales volume and the resources used to
realize it is about 1,22.
The employees costs represent the 20,41% of the production costs.
Statistical Detrimental Data
The area is statistically considered lowly risky.
In the region 18.860 protested subjects are found; in the province they
count to 3.557.
The insolvency index for the region is 0,46, , while for the province it
is 0,55.
Total Bankrupt companies in the province : 2.526.
Total Bankrupt companies in the region : 14.698.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.65 |
|
|
1 |
Rs.71.93 |
|
Euro |
1 |
Rs.63.24 |
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.