MIRA INFORM
REPORT
|
Report Date : |
14.04.2011 |
IDENTIFICATION DETAILS
|
Name : |
Gramellini F. LLI. S.P.A. |
|
|
|
|
Registered Office : |
Via
Ravegnana, 397/C, 47100- |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2009 |
|
|
|
|
Date of Incorporation : |
06.01.1981 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Wholesale of Food, Beverages and Tobacco |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
EUR 160.000 |
|
|
|
|
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 |
Company
name
Gramellini
F.lli S.p.A.
Via
Ravegnana, 397/C
47100 -
Summary
Fiscal
Code : 00124640400
Legal
Form : Joint stock company
start
of Activities : 06/01/1981
Equity : Over 2.582.254 Eur
Number
of Employees : from 51 to 70
Credit
Analysis
Credit Opinion : 160.000
- Eur
Activity
Wholesale of food, beverages and tobacco
Wholesale of meat and meat products
Wholesale of cold cuts of pork
Wholesale of frozen, deep-frozen, conserved o dried fished
products
Non-specialised wholesale of deep-frozen products
Legal
Data
Legal Form : Joint
stock company
Fiscal Code : 00124640400
Foreign Trade Reg. no. : FO007093 since 11/02/1992
Chamber of Commerce no. : 206438 of
Chamber of Commerce no. : 183999 of
Firms' Register : FO012-9174 since
19/02/1996
V.A.T. Code : 00124640400
R. E. C. no. : 31225 of
Foundation
date : 03/12/1980
Establishment
date : 03/12/1980
Start
of Activities : 06/01/1981
Legal
duration : 31/12/2020
Nominal
Capital : 5.160.000 Eur
Subscribed
Capital : 5.160.000 Eur
Paid up
Capital : 5.160.000 Eur
Members
|
Gramellini |
Tiziano |
|
|
|
Born in |
(FO) |
on 23/08/1937 |
- Fiscal Code : GRMTZN37M23D704T |
|
|
|
Residence : |
Via |
Ravegnana |
, 383 |
- 47100 |
|
(FO) |
- IT - |
|
Position |
Since |
Shares
Amount |
%
Ownership |
|
Procurator |
02/03/1993 |
|
|
|
|
No Protests registered |
|
|
Gramellini |
Pietro |
|
|
|
Born in |
(FO) |
on 18/04/1941 |
- Fiscal Code : GRMPTR41D18D704G |
|
|
|
Residence : |
Via |
Ravegnana |
, 397/B |
- 47100 |
|
(FO) |
- IT - |
|
Position |
Since |
Shares
Amount |
%
Ownership |
|
Sole Director |
30/04/2010 |
|
|
|
|
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.
|
GRAMELLINI |
TIZIANO |
|
Firm's Style |
Seat |
Fiscal
Code |
Position |
Position
Status |
Firm's
Status |
|
CESARE
SURGELATI S.R.L. UNIPERSONALE |
|
03281140404 |
Sole
Director |
Withdrawn |
Ceased |
|
FORUM - S.R.L. |
|
01543830408 |
Limited
Partner |
Withdrawn |
Registered |
|
LEONI S.P.A. |
|
00723950408 |
Director
|
Withdrawn |
Registered |
|
|
GRAMELLINI |
PIETRO |
|
Firm's Style |
Seat |
Fiscal
Code |
Position |
Position
Status |
Firm's
Status |
|
FORNITALIA SRL |
|
01717020356 |
Director
|
Withdrawn |
Ceased |
|
LA CUCINA DI
BOLOGNA S.R.L. |
San Giovanni in Persiceto (BO) - IT - |
01969201209 |
Director
|
Active |
Registered |
|
LA CUCINA DI
BOLOGNA S.R.L. |
San Giovanni in Persiceto (BO) - IT - |
01969201209 |
Assistant
board Chairman |
Withdrawn |
Registered |
|
LA CUCINA DI
BOLOGNA S.R.L. |
San Giovanni in Persiceto (BO) - IT - |
01969201209 |
Managing
Director |
Active |
Registered |
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 |
|
Gramellini Tiziano |
|
GRMTZN37M23D704T |
2.580.000
.Eur |
50,00
|
|
Gramellini Pietro |
|
GRMPTR41D18D704G |
2.580.000
.Eur |
50,00
|
Direct
Participations
The Company under review has participations in the following
Companies:
|
Firm's Style |
Seat |
Fiscal
Code |
Owned
Shares Amount |
% Ownership |
since
|
until
|
Share
Status |
|
Leoni S.p.a. |
|
00723950408 |
158.412
.Eur |
31,48
|
|
|
Active |
|
Novellino
Societa' A Responsabilita' Limitata In Forma Abbreviata Novellino S |
|
03105870616 |
9.500
.Eur |
95,00
|
|
|
Active |
|
Consenergy 2000 |
|
02031120393 |
|
|
|
|
Active |
Firm's location and structure
In order to carry out its activities the firm uses the
following locations:
|
- |
Legal and operative seat |
|
|
|
|
|
|
Via |
Ravegnana |
, 397/C |
- 47100 |
- |
(FO) |
- IT - |
|
|
|
|
PHONE |
: 0543/720028 |
|
|
|
|
PHONE |
: 0543/24280 |
|
|
|
|
FAX |
: 0543/24235 |
|
|
|
|
FAX |
: 0543/796309 |
|
- |
Branch |
(Warehouse ) |
since 02/11/1993 |
|
|
|
|
|
Via |
Appia Antica |
- 81020 |
- San Nicola la Strada |
(CE) |
- IT - |
|
|
|
|
PHONE |
: 0823/468523 |
|
|
|
|
FAX |
: 0823/468519 |
|
|
|
|
Employees |
: 56 |
|
Fittings and Equipment for a value of 760.000 |
Eur |
|
Stocks for a value of 11.680.000 |
Eur |
The firm operates abroad as importer / exporter. .
To purchase foreign products the firm uses the following
channels :
|
- its own sales net-work |
Export represents up to 20% of the global turnover.
Products abroad are placed by :
|
- direct orders from foreign companies |
Import comes generally from the following nations:
|
- |
|
- Francia |
|
- |
Historical Information and/or Firm's Status
EX-MEMBERS / EX-POSITIONS:
|
|
Grillanda Carla |
|
|
|
|
Born in |
on 16/02/1942 |
- Fiscal Code : GRLCRL42B56D704N |
|
Ex-Postions |
|
Sole Director |
|
|
Gramellini |
Tiziano |
|
|
|
Born in |
on 23/08/1937 |
- Fiscal Code : GRMTZN37M23D704T |
|
|
|
Residence : |
Via |
Ravegnana |
, 383 |
- 47100 |
|
(FO) |
- IT - |
|
Ex-Postions |
|
Sole Director |
Protests
Protests checking on the subject firm has given a negative
result.
Negativities
In the name of the firm the following events are registered:
|
Type |
Expiry
Date |
Amount
in |
Reason |
Result |
Closure
Date |
|
Inquiry before contentious procedure |
01/03/1987 |
|
|
|
|
Legal
Procedures
None reported, standing to the latest received edition of
the Official Publications.
Bankers
The firm operates with:
|
Bank Name |
Agency
Name |
Address |
ZIP
Code |
City |
ABI
Code |
CAB
Code |
|
CASSA DEI
RISPARMI DI FORLI E DELLA R |
|
|
|
|
6010
|
0 |
Immovables
*
*Subject to survey.
|
Immovable Type |
Value |
|
Real estates |
4.031.114
- Eur |
NB.: For Capital Companies the value of the Immovables is
the one reported in the latest available financial documents.
Financial
and Economical Analysis
Subject is active since 1981
An eco-fin analysis has been made on the base od the b/s fo
the years 2007, 2008 and 2009.
In the economic management , good and bad results followed
on by turns. with a loss in the last financial year. The turnover is falling if
compared with the previous financial year (EFAT1E%).
The operating result was positive in the last financial year
(1,14%) and in line with the sector's average.
The amount of the operating result for the year 2009 is of
Eur. 368.903 showing a fall as opposed to the previous year (-62,72%).
The economic management produced a gross operating margin of
Eur. 695.861 showing a drop (-42,13%).
Company's financial status is balanced since indebtedness is
not high (3,2) and decreasing as against 2008.
The equity capital is equal to Eur. 6.762.346 , unchanged if
compared to 2008.
Total indebtedness was equal to Eur. 24.242.292 (Eur.
2.560.363 was the value of m/l term debts) , a more or less stable value.
The exposure towards banks is slightly high, the recourse to
suppliers' credit is limited below the sector's average.
The management determines a good range of liquidity.
As far as the collection of credit goes, the average is high
(121,26 days). besides being higher than the sector's average.
2009 financial year closed with a cash flow of Eur. 83.581
Labour cost amounts to Eur. 2.533.861, with a 6,75%
incidence on production costs. , with a 6,73% incidence on turnover.
Limited financial charges in relation to sales volume.
Financial
Data
|
|
Complete balance-sheet for the year |
31/12/2009 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
37.640.592 |
|
Profit (Loss) for the period |
-243.377 |
|
|
|
Complete balance-sheet for the year |
31/12/2008 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
41.930.659 |
|
Profit (Loss) for the period |
-191.496 |
|
|
|
Complete balance-sheet for the year |
31/12/2007 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
46.994.451 |
|
Profit (Loss) for the period |
402.862 |
|
|
|
Complete balance-sheet for the year |
31/12/2006 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
46.233.100 |
|
Profit (Loss) for the period |
380.447 |
|
|
|
Complete balance-sheet for the year |
31/12/2005 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
41.868.032 |
|
Profit (Loss) for the period |
364.988 |
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 |
0,23 |
0,18 |
0,18 |
0,11 |
|
Elasticity Ratio |
Units |
0,77 |
0,81 |
0,81 |
0,86 |
|
Availability of stock |
Units |
0,36 |
0,40 |
0,38 |
0,14 |
|
Total Liquidity Ratio |
Units |
0,41 |
0,41 |
0,42 |
0,65 |
|
Quick Ratio |
Units |
0,00 |
0,00 |
0,00 |
0,04 |
|
COMPOSITION
ON SOURCE |
|
|
|
|
|
|
Net Short-term indebtedness |
Units |
3,20 |
3,47 |
3,21 |
5,59 |
|
Self Financing Ratio |
Units |
0,21 |
0,21 |
0,22 |
0,12 |
|
Capital protection Ratio |
Units |
0,27 |
0,29 |
0,26 |
0,59 |
|
Liabilities consolidation quotient |
Units |
0,16 |
0,03 |
0,03 |
0,10 |
|
Financing |
Units |
3,58 |
3,50 |
3,22 |
6,70 |
|
Permanent Indebtedness Ratio |
Units |
0,31 |
0,23 |
0,25 |
0,24 |
|
M/L term Debts Ratio |
Units |
0,10 |
0,02 |
0,02 |
0,06 |
|
Net Financial Indebtedness Ratio |
Units |
2,81 |
3,06 |
2,80 |
1,04 |
|
CORRELATION |
|
|
|
|
|
|
Fixed assets ratio |
Units |
1,35 |
1,29 |
1,37 |
1,75 |
|
Current ratio |
Units |
1,14 |
1,08 |
1,11 |
1,10 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
0,60 |
0,54 |
0,58 |
0,90 |
|
Structure's primary quotient |
Units |
0,90 |
1,16 |
1,23 |
1,00 |
|
Treasury's primary quotient |
Units |
0,00 |
0,00 |
0,00 |
0,06 |
|
Rate of indebtedness ( Leverage ) |
% |
477,18 |
467,65 |
441,81 |
810,15 |
|
Current Capital ( net ) |
Value |
3.072.317 |
2.155.228 |
2.872.689 |
90.043 |
|
RETURN |
|
|
|
|
|
|
Return on Sales |
% |
0,22 |
0,05 |
2,37 |
1,53 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
-
3,60 |
-
2,73 |
5,33 |
7,23 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
-
0,34 |
-
0,98 |
11,33 |
23,81 |
|
Return on Investment ( R.O.I. ) |
% |
1,14 |
3,02 |
4,98 |
4,22 |
|
Return/ Sales |
% |
0,98 |
2,36 |
3,53 |
2,07 |
|
Extra Management revenues/charges incid. |
% |
-
65,97 |
-
19,35 |
24,23 |
24,23 |
|
Cash Flow |
Value |
83.581 |
21.464 |
1.116.224 |
44.651 |
|
Operating Profit |
Value |
368.903 |
989.603 |
1.662.489 |
59.651 |
|
Gross Operating Margin |
Value |
695.861 |
1.202.563 |
2.375.851 |
94.866 |
|
MANAGEMENT |
|
|
|
|
|
|
Credits to clients average term |
Days |
121,26 |
111,96 |
106,74 |
89,20 |
|
Debts to suppliers average term |
Days |
39,35 |
25,88 |
22,50 |
100,82 |
|
Average stock waiting period |
Days |
111,76 |
113,47 |
99,32 |
25,59 |
|
Rate of capital employed return ( Turnover ) |
Units |
1,17 |
1,27 |
1,40 |
2,02 |
|
Rate of stock return |
Units |
3,22 |
3,17 |
3,62 |
13,97 |
|
Labour cost incidence |
% |
6,73 |
5,70 |
5,32 |
5,64 |
|
Net financial revenues/ charges incidence |
% |
-
1,37 |
-
2,93 |
-
2,30 |
-
0,61 |
|
Labour cost on purchasing expenses |
% |
6,75 |
5,79 |
5,49 |
5,62 |
|
Short-term financing charges |
% |
3,53 |
6,61 |
5,76 |
1,97 |
|
Capital on hand |
% |
85,73 |
78,13 |
70,99 |
49,39 |
|
Sales pro employee |
Value |
672.153 |
676.300 |
712.037 |
545.635 |
|
Labour cost pro employee |
Value |
45.247 |
38.568 |
37.893 |
31.937 |
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:
160.000Eur.
Market
/ Territory Data
|
Population living in the province |
: |
371.318 |
|
Population living in the region |
: |
4.151.369 |
|
Number of families in the region |
: |
1.748.359 |
Monthly family expenses 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 5.101 significant
companies.
The companies cash their credits on an average of 89 dd.
The average duration of suppliers debts is about 100 dd.
The sector's profitability is on an average of 1,53%.
The labour cost affects the turnover in the measure of
5,64%.
Goods are held in stock in a range of 25 dd.
The difference between the sales volume and the resources
used to realize it is about 2,02.
The employees costs represent the 5,62% 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 1.674.
The insolvency index for the region is 0,46, , while for the
province it is 0,46.
Total Bankrupt companies in the province : 607.
Total Bankrupt companies in the region : 14.698.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.48 |
|
|
1 |
Rs.72.37 |
|
Euro |
1 |
Rs.64.42 |
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 Company |
---- |
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.