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MIRA INFORM REPORT

 

 

Report Date :

19.04.2011

 

IDENTIFICATION DETAILS

 

Name :

s.p.m. s.p.a.

 

 

Registered Office :

Via Bargnani,7 S. Eufemia

25100- Brescia(BS)

 

 

Country :

Italy

 

 

Financials (as on) :

31.12.2009

 

 

Date of Incorporation :

01.07.1983

 

 

Com. Reg. No.:

BS029-23941 since 19/02/1996

 

 

Legal Form :

Joint Stock Company

 

 

Line of Business :

Manufacture of moulds, mould-holders, profiles, shapes for machines

 

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 :

300.000 - 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)

Italy

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

 

S.p.m. S.p.a.

 

Via Bargnani,7 S. Eufemia

25100- Brescia(BS)-IT-

 

 

Summary

 

Fiscal Code

:

01774880171

Legal Form

:

Joint stock company

start of Activities

:

01/07/1983

Equity

:

Over 2.582.254 Eur

Turnover Range

:

10.000.000/12.750.000 Eur

Number of Employees

:

from 36 to 50

 

 

Credit Analysis

 

Credit Opinion

:

300.000 - Eur

 

 

Activity

 

Manufacture of moulds, mould-holders, profiles, shapes for machines

 

Legal Data

 

Legal Form : Joint stock company

Fiscal Code : 01774880171

 

Foreign Trade Reg. no. : BS019098 since 23/12/1991

 

Foreign Trade Reg. no. : 019098 of Brescia since 23/12/1991

 

Chamber of Commerce no. : 268322 of Brescia since 01/02/1983

 

Firms' Register : BS029-23941 since 19/02/1996

 

V.A.T. Code : 01774880171

 

Establishment date

: 10/12/1982

Start of Activities

: 01/07/1983

Legal duration

: 31/12/2050

Nominal Capital

: 800.000

Eur

Subscribed Capital

: 800.000

Eur

Paid up Capital

: 800.000

Eur

 

Members

 

 

Laffranchi

Andrea

 

 

 

Born in Brescia

(BS)

on 20/12/1949

- Fiscal Code : LFFNDR49T20B157N

 

 

 

Residence :

Via

Giovanni Bettoni

, 42

- 25014

Castenedolo

(BS)

- IT -

 

Position

Since

Shares Amount

% Ownership

Sole Director

29/04/2010

 

 

 

 

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.

 

LAFFRANCHI

ANDREA

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

BRESCIA EXPORT SOCIETA' CONSORTILE COOPERATIVA A RESPONSABILITA' LIMITATA

Brescia (BS) - IT -

01717040172

Director

Active

Registered

LAM ENGINEERING SRL

Brescia (BS) - IT -

01965570177

Partner

Withdrawn

Registered

PLCM SRL

Brescia (BS) - IT -

01048500175

Sole Director

Active

Registered

PLCM SRL

Brescia (BS) - IT -

01048500175

Partner

Withdrawn

Registered

SEIFIN S.R.L.

Brescia (BS) - IT -

02156730174

Sole Director

Withdrawn

Registered

 

Capital Shareholders

 

Shareholders' list as at date of data collection:

 

Firm's Style / Name

Seat / Residence

Fiscal Code

Owned Shares

% Ownership

Laffranchi Andrea

Castenedolo - IT -

LFFNDR49T20B157N

612.000 .Eur

76,50

LAFFRANCHI ANGELO

Castenedolo - IT -

LFFNGL55M01B157Q

188.000 .Eur

23,50

 

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

SEIFIN S.R.L.

Brescia - IT -

02156730174

46.800 .Eur

100,00

 

 

Active

Api Energetica S.c.r.l.

Brescia - IT -

03566890178

2.000 .Eur

2,04

 

 

Active

 

Firm's location and structure

 

In order to carry out its activities the firm uses the following locations:

 

-

Legal and operative seat

 

 

 

 

 

 

Via

Bargnani

, 7 Loc. S. EUFEMIA

- 25100

- Brescia

(BS)

- IT -

 

 

 

 

PHONE

: 030/3363211

 

 

 

 

FAX

: 030/3363226

 

-

Branch

(Factory )

since 01/07/1989

 

 

 

 

 

Via

Bargnani

, s.n. Loc. S. Eufemia

- 25100

- Brescia

(BS)

- IT -

 

 

 

 

PHONE

: 030/3363211

 

-

Branch

(Factory )

since 14/12/1999

 

 

 

 

 

Via

Patrioti

, 52

- 25014

- Castenedolo

(BS)

- IT -

 

 

 

 

Trading Style: SPM S.R.L. - DIVISIONE PLASTIC

 

 

 

 

PHONE

: 030/3363212

 

-

Branch

(Warehouse )

since 01/01/2008

 

 

 

 

 

Via

Magnolini

, 14

- 25100

- Brescia

(BS)

- IT -

 

 

 

 

Employees

: 39

 

 

 

 

Assistants

: 2

 

Fittings and Equipment for a value of 1.040.000

Eur

 

Stocks for a value of 2.960.000

Eur

 

 

The firm operates abroad as exporter. .

Export represents from 20% to 50% of the global turnover.

Products abroad are placed by :

- importers

 

- its own agents

 

- direct orders from foreign companies

 

Export is mainly towards:

- Irlanda

 

- Francia

 

- Etiopia

 

 

Historical Information and/or Firm's Status

 

EX-MEMBERS / EX-POSITIONS:

 

 

Forbek

Francesco

 

 

 

Born in Brescia

on 03/11/1951

- Fiscal Code : FRBFNC51S03B157J

 

 

 

Residence :

Via

Rocca D'anfo

, 7

- 25100

Brescia

(BS)

- IT -

 

Ex-Postions

Chairman of the Board of Aud.

 

 

Bresciani

Luigi

 

 

 

Born in Milano

on 03/10/1932

- Fiscal Code : BRSLGU32R03I690C

 

 

 

Residence :

Via

Delle Tofane

, 38

- 25100

Brescia

(BS)

- IT -

 

Ex-Postions

Permanent Auditor

 

 

Agliardi

Mauro

 

 

 

Born in Brescia

on 26/04/1963

- Fiscal Code : GLRMRA63D26B157P

 

 

 

Residence :

Via

Monte Grappa

, 54

- 25080

Calvagese della Riviera

(BS)

- IT -

 

Ex-Postions

Temporary Auditor

 

 

Veclani

Siro

 

 

 

Born in Brescia

on 20/11/1950

- Fiscal Code : VCLSRI50S20B157X

 

 

 

Residence :

Via

Cantore

, 21

- 25128

Brescia

(BS)

- IT -

 

Ex-Postions

Permanent Auditor

 

CEASINGS/INCORPORATIONS/MERGES:

 

 

Project of merging by taking over of

 

 

 

SEIFIN S.R.L.

 

 

 

Via

ALDO MORO

, 10

, 25100

, Brescia

(BS)

- IT -

 

 

 

Fiscal Code: 02156730174

 

 

 

Date

Merging/splitting-up project :

11/10/2006

 

 

The firm absorbed by merging of

 

 

 

SEIFIN S.R.L.

 

 

 

Via

ALDO MORO

, 10

, 25100

, Brescia

(BS)

- IT -

 

 

 

Fiscal Code: 02156730174

 

 

 

Date

:

27/06/2007

 

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

 

Company's starting of activities dates back to 1983.

The economic-financial analysis has been made on the base of the b/s of the latests three years.

During the last years, it achieved profits (r.o.e. 36,64% on 2009)

The operating result in 2009 was positive (17,62%) falling within the field's average.

The amount of the operating result for the year 2009 is of Eur. 2.360.058 with an increase of 91,91% if the compared to the previous financial year.

The gross operating margin of the latest financial year is of Eur. 2.830.578 with a 66,85% increase as opposed to the preceding year.

The analysis shows a fair financial position as the indebtedness volume is acceptable (1,53) with an improving trend as on the decrease.

The management generated equity capital for an amount of Eur. 4.229.038 , increasing by 44,86% if compared to the financial year 2008.

In the year 2009 total debts amounted to Eur. 8.772.807 on the same levels as the year before.

The company does not exceed in bank credits; payments average period is instead slightly high (148,2 gg.) even if it still falls within the sector's average.

It shows a good range of liquidity.

Due from customers average term is high and equal to 141,69 days. but in line with the sector.

As far as the cash flow is concerned during the latest financial year it amounted to Eur. 2.020.213

In the last financial year labour cost was of Eur. 1.858.931, with a 17,42% incidence on total costs of production. , whereas the incidence on sales revenues is of 15,15%.

High incidence of financial charges on turnover.

Financial Data

 

 

 

Complete balance-sheet for the year

31/12/2009

(in Eur

x 1 )

 

Item Type

Value

Sales

 

Profit (Loss) for the period

 

 

 

 

Complete balance-sheet for the year

31/12/2008

(in Eur

x 1 )

 

Item Type

Value

Sales

 

Profit (Loss) for the period

 

 

 

 

Complete balance-sheet for the year

31/12/2007

(in Eur

x 1 )

 

Item Type

Value

Sales

 

Profit (Loss) for the period

 

 

 

 

Complete balance-sheet for the year

31/12/2006

(in Eur

x 1 )

 

Item Type

Value

Sales

 

Profit (Loss) for the period

 

 

 

 

Complete balance-sheet for the year

31/12/2005

(in Eur

x 1 )

 

Item Type

Value

Sales

 

Profit (Loss) for the period

 

 

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

 

Years

2009

2008

2007

BALANCE SHEET ACCOUNTS

 

ASSETS

 

 

 

CREDITS VS PARTNERS

 

 

 

. Deposits not yet withdrawn

 

 

 

. Deposits already withdrawn

 

 

 

Total credits vs partners

 

 

 

FIXED ASSETS

 

 

 

. INTANGIBLE FIXED ASSETS

 

 

 

. . Start-up and expansion expenses

 

1.534

3.324

. . Research,develop. and advert.expens.

 

 

 

. . Industrial patent rights

 

 

 

. . Concessions,licenses,trademarks,etc.

2.704

4.637

2.764

. . Goodwill

 

9.296

18.592

. . Assets in formation and advance paymen.

 

 

 

. . Other intangible fixed assets

28.843

33.651

38.458

. Total Intangible Fixed Assets

31.547

49.118

63.138

. TANGIBLE FIXED ASSETS

 

 

 

. . Real estate

3.440.209

3.566.125

3.692.042

. . Plant and machinery

878.704

891.207

373.557

. . Industrial and commercial equipment

166.108

193.539

262.524

. . Other assets

146.139

139.667

112.107

. . Assets under construction and advances

 

 

45.000

. Total Tangible fixed assets

4.631.160

4.790.538

4.485.230

. FINANCIAL FIXED ASSETS

 

 

 

. . Equity investments

8.328

38.493

38.493

. . . Equity invest. in subsidiary companies

 

 

 

. . . Equity invest. in associated companies

 

33.261

33.261

. . . Equity invest. in holding companies

 

 

 

. . . Equity invest. in other companies

8.328

5.232

5.232

. . Financial receivables

 

22.405

28.405

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

22.405

28.405

. . . Receivab due from subsidiaries

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . . Receivables due from assoc.comp.

 

22.405

28.405

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

22.405

28.405

. . . Receivables due from holding comp.

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . . Receivables due from third parties

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Other securities

 

 

 

. . Own shares

 

 

 

. . . Total nominal value

 

 

 

. Total financial fixed assets

8.328

60.898

66.898

Total fixed assets

4.671.035

4.900.554

4.615.266

CURRENT ASSETS

 

 

 

. INVENTORIES

 

 

 

. . Raw materials and other consumables

666.870

549.057

489.363

. . Work in progress and semimanufactured

2.294.184

1.597.854

1.446.077

. . Work in progress on order

 

 

 

. . Finished goods

 

 

 

. . Advance payments

 

 

 

. Total Inventories

2.961.054

2.146.911

1.935.440

. CREDITS NOT HELD AS FIXED ASSETS

 

 

 

. . Within 12 months

5.087.184

5.246.510

4.492.415

. . Beyond 12 months

58.806

38.769

61.207

. . Trade receivables

4.828.071

4.840.292

3.873.608

. . . . Within 12 months

4.828.071

4.840.292

3.873.608

. . . . Beyond 12 months

 

 

 

. . Receivables due from subsid. comp.

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Receivables due from assoc. comp.

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Receivables due from holding comp.

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Fiscal Receivables

240.283

375.788

311.973

. . . . Within 12 months

240.283

375.788

311.583

. . . . Beyond 12 months

 

 

390

. . Receivables for anticipated taxes

20.616

19.319

18.022

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

20.616

19.319

18.022

. . Receivables due from third parties

57.020

49.880

350.019

. . . . Within 12 months

18.830

30.430

307.224

. . . . Beyond 12 months

38.190

19.450

42.795

. Total Credits not held as fixed assets

5.145.990

5.285.279

4.553.622

. FINANCIAL ASSETS

 

 

 

. . Equity invest. in subsidiary comp.

 

 

 

. . Equity invest. in associated companies

 

 

 

. . Equity invest. in holding companies

 

 

 

. . Other equity investments

 

 

 

. . Own shares

 

 

 

. . . Total nominale value

 

 

 

. . Other securities

 

 

 

. Total Financial Assets

 

 

 

. LIQUID FUNDS

 

 

 

. . Bank and post office deposits

539.091

486.948

496.961

. . Checks

 

 

 

. . Banknotes and coins

1.924

555

843

. Total Liquid funds

541.015

487.503

497.804

Total current assets

8.648.059

7.919.693

6.986.866

ADJUSTMENT ACCOUNTS

 

 

 

. Discount on loans

 

 

 

. Other adjustment accounts

77.502

37.452

42.719

Total adjustments accounts

77.502

37.452

42.719

TOTAL ASSETS

13.396.596

12.857.699

11.644.851

 

 

 

 

LIABILITIES

 

 

 

STOCKHOLDERS' EQUITY

 

 

 

. Capital stock

800.000

800.000

800.000

. Additional paid-in capital

 

 

 

. Revaluation reserves

1.031.192

1.031.192

1.031.192

. Legal reserve

160.000

160.000

47.176

. Reserve for Own shares

 

 

 

. Statute reserves

 

 

 

. Other reserves

688.153

384.332

376.315

. Accumulated Profits (Losses)

 

 

 

. Profit( loss) of the year

1.549.693

543.821

120.841

. Advances on dividends

 

 

 

. Partial loss of the year Coverage

 

 

 

Total Stockholders'Equity

4.229.038

2.919.345

2.375.524

RESERVES FOR RISKS AND CHARGES

 

 

 

. . Reserve for employee termination indem.

 

 

 

. . Taxation fund, also differed

15.580

15.916

16.252

. . Other funds

 

 

 

Total Reserves for Risks and Charges

15.580

15.916

16.252

Employee termination indemnities

296.747

246.131

188.407

ACCOUNTS PAYABLE

 

 

 

. . . . Within 12 months

7.017.103

7.229.770

6.837.331

. . . . Beyond 12 months

1.755.704

2.386.955

2.186.800

. . Bonds

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Convertible bonds repayable

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Due to shareholders for financing

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Due to banks

3.050.660

5.460.651

4.882.795

. . . . Within 12 months

1.294.956

3.073.696

2.695.995

. . . . Beyond 12 months

1.755.704

2.386.955

2.186.800

. . Due to other providers of finance

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Advances from customers

1.857.100

382.990

536.860

. . . . Within 12 months

1.857.100

382.990

536.860

. . . . Beyond 12 months

 

 

 

. . Trade payables

3.403.692

3.419.177

3.033.388

. . . . Within 12 months

3.403.692

3.419.177

3.033.388

. . . . Beyond 12 months

 

 

 

. . Securities issued

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Due to subsidiary companies

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Due to associated companies

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Due to holding companies

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Due to the tax authorities

291.675

159.873

105.609

. . . . Within 12 months

291.675

159.873

105.609

. . . . Beyond 12 months

 

 

 

. . Due to social security and welfare inst.

56.360

58.748

53.228

. . . . Within 12 months

56.360

58.748

53.228

. . . . Beyond 12 months

 

 

 

. . Other payables

113.320

135.286

412.251

. . . . Within 12 months

113.320

135.286

412.251

. . . . Beyond 12 months

 

 

 

Total accounts payable

8.772.807

9.616.725

9.024.131

ADJUSTMENT ACCOUNTS

 

 

 

. Agio on loans

 

 

 

. Other adjustment accounts

82.424

59.582

40.537

Total adjustment accounts

82.424

59.582

40.537

TOTAL LIABILITIES

13.396.596

12.857.699

11.644.851

 

 

 

 

 

 

MEMORANDUM ACCOUNTS

 

Third party goods

 

 

 

Investment accounts

 

 

 

Risk accounts

 

 

 

Civil and fiscal norms relation

 

 

 

 

 

 

 

 

 

PROFIT AND LOSS ACCOUNTS

 

VALUE OF PRODUCTION

 

 

 

. Revenues from sales and services

12.267.125

13.610.956

10.841.907

. Changes in work in progress

696.330

 

-796.467

. Changes in semi-manufact. products

 

 

 

. Capitalization of internal work

 

 

 

. Other income and revenues

69.839

298.426

95.165

. . Contributions for operating expenses

 

 

 

. . Different income and revenues

69.839

298.426

95.165

Total value of production

13.033.294

13.909.382

10.140.605

PRODUCTION COSTS

 

 

 

. Raw material,other materials and consum.

3.894.928

4.612.030

3.532.779

. Services received

3.812.016

4.678.811

3.421.598

. Leases and rentals

561.245

632.543

540.944

. Payroll and related costs

1.858.931

1.780.813

1.509.529

. . Wages and salaries

1.469.821

1.160.284

1.065.114

. . Social security contributions

313.262

327.202

290.591

. . Employee termination indemnities

75.848

67.335

67.597

. . Pension and similar

 

 

 

. . Other costs

 

225.992

86.227

. Amortization and depreciation

470.520

466.707

369.148

. . Amortization of intangible fixed assets

18.036

17.827

17.411

. . Amortization of tangible fixed assets

452.484

448.880

351.737

. . Depreciation of tangible fixed assets

 

 

 

. . Writedown of current receiv.and of liquid

 

 

 

. Changes in raw materials

-117.812

-59.694

-184.640

. Provisions to risk reserves

 

 

 

. Other provisions

 

 

 

. Other operating costs

193.408

568.445

304.258

Total production costs

10.673.236

12.679.655

9.493.616

Diff. between value and cost of product.

2.360.058

1.229.727

646.989

FINANCIAL INCOME AND EXPENSE

 

 

 

. Income from equity investments

26

43

 

. . In subsidiary companies

 

 

 

. . In associated companies

 

 

 

. . In other companies

 

 

 

. Other financial income

1.747

4.655

19.952

. . Financ.income from receivables

 

 

 

. . . Towards subsidiary companies

 

 

 

. . . Towards associated companies

 

 

 

. . . Towards holding companies

 

 

 

. . . Towards other companies

 

 

 

. . Financ.income from secur. t.f.assets

 

 

 

. . Financ.income from secur. cur.assets

 

 

 

. . Financ.income other than the above

1.747

4.655

19.952

. . . - Subsidiary companies

 

 

 

. . . - Associated companies

 

 

 

. . . - Holding companies

 

 

 

. . . - Other companies

 

 

 

. Interest and other financial expense

-318.512

-322.524

-349.723

. . Towards subsidiary companies

 

 

 

. . Towards associated companies

 

 

 

. . Towards holding companies

 

 

 

. . Towards other companies

-173.517

24.340

 

Total financial income and expense

-316.739

-317.826

-329.771

ADJUSTMENTS TO FINANCIAL ASSETS

 

 

 

. Revaluations

 

 

 

. . Of equity investments

 

 

 

. . Of financ.fixed assets not repres.E.I.

 

 

 

. . Of securities incl.among current assets

 

 

 

. Devaluation

 

 

 

. . Of equity investments

 

 

 

. . Of financial fixed assets (no equity inv)

 

 

 

. . Of securities included among current ass

 

 

 

Total adjustments to financial assets

 

 

 

EXTRAORDINARY INCOME AND EXPENSE

 

 

 

. Extraordinary income

144.333

 

 

. . Gains on disposals

144.333

 

 

. . Other extraordinary income

 

 

 

. Extraordinary expense

 

 

 

. . Losses on disposals

 

 

 

. . Taxes relating to prior years

 

 

 

. . Other extraordinary expense

 

 

 

Total extraordinary income and expense

144.333

 

 

Results before income taxes

2.187.652

911.901

317.218

. Taxes on current income

637.959

368.080

196.377

. . current taxes

639.592

369.713

210.514

. . differed taxes(anticip.)

1.633

-1.633

-14.137

. Net income for the period

1.549.693

543.821

120.841

. Adjustments in tax regulations pursuance

 

 

 

. Provisions in tax regulations pursuance

 

 

 

. Profit (loss) of the year

1.549.693

543.821

120.841

 

 

 

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

0,35

0,38

0,39

0,20

Elasticity Ratio

Units

0,65

0,61

0,59

0,77

Availability of stock

Units

0,22

0,16

0,16

0,19

Total Liquidity Ratio

Units

0,42

0,44

0,43

0,53

Quick Ratio

Units

0,04

0,03

0,04

0,03

COMPOSITION ON SOURCE

 

 

 

 

 

Net Short-term indebtedness

Units

1,53

2,30

2,66

2,84

Self Financing Ratio

Units

0,32

0,22

0,20

0,19

Capital protection Ratio

Units

0,44

0,53

0,61

0,67

Liabilities consolidation quotient

Units

0,29

0,36

0,34

0,25

Financing

Units

2,07

3,29

3,79

3,52

Permanent Indebtedness Ratio

Units

0,47

0,43

0,40

0,40

M/L term Debts Ratio

Units

0,15

0,20

0,20

0,14

Net Financial Indebtedness Ratio

Units

0,59

1,70

1,84

0,83

CORRELATION

 

 

 

 

 

Fixed assets ratio

Units

1,34

1,13

1,02

1,85

Current ratio

Units

1,23

1,09

1,02

1,29

Acid Test Ratio-Liquidity Ratio

Units

0,81

0,79

0,73

0,91

Structure's primary quotient

Units

0,91

0,59

0,51

1,04

Treasury's primary quotient

Units

0,08

0,06

0,07

0,06

Rate of indebtedness ( Leverage )

%

316,78

440,43

490,20

508,64

Current Capital ( net )

Value

1.630.956

689.923

149.535

 

RETURN

 

 

 

 

 

Return on Sales

%

16,47

7,42

4,51

4,50

Return on Equity - Net- ( R.O.E. )

%

36,64

18,62

5,08

6,91

Return on Equity - Gross - ( R.O.E. )

%

51,73

31,23

13,35

22,86

Return on Investment ( R.O.I. )

%

17,62

9,56

5,55

5,62

Return/ Sales

%

19,24

9,03

5,96

5,03

Extra Management revenues/charges incid.

%

65,66

44,22

18,67

24,96

Cash Flow

Value

2.020.213

1.010.528

489.989

 

Operating Profit

Value

2.360.058

1.229.727

646.989

 

Gross Operating Margin

Value

2.830.578

1.696.434

1.016.137

 

MANAGEMENT

 

 

 

 

 

Credits to clients average term

Days

141,69

128,01

128,59

127,94

Debts to suppliers average term

Days

148,20

124,02

145,69

156,25

Average stock waiting period

Days

86,90

56,77

64,26

62,49

Rate of capital employed return ( Turnover )

Units

0,92

1,05

0,93

1,16

Rate of stock return

Units

4,14

6,33

5,60

5,75

Labour cost incidence

%

15,15

13,08

13,92

20,67

Net financial revenues/ charges incidence

%

- 2,58

- 2,33

- 3,04

- 1,14

Labour cost on purchasing expenses

%

17,42

14,04

15,90

21,40

Short-term financing charges

%

3,63

3,35

3,87

2,55

Capital on hand

%

109,21

94,46

107,40

85,57

Sales pro employee

Value

340.753

400.322

318.879

 

Labour cost pro employee

Value

51.636

52.376

44.397

 

 

 

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:

 

300.000  Eur.

 

 

Market / Territory Data

 

Population living in the province

:

1.169.259

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 1.023 significant companies.

 

The companies cash their credits on an average of 127 dd.

The average duration of suppliers debts is about 156 dd.

The sector's profitability is on an average of 4,50%.

The labour cost affects the turnover in the measure of 20,67%.

Goods are held in stock in a range of 62 dd.

The difference between the sales volume and the resources used to realize it is about 1,16.

The employees costs represent the 21,40% of the production costs.

Statistical Detrimental Data

 

The area is statistically considered moderately risky.

In the region 50.886 protested subjects are found; in the province they count to 5.551.

The insolvency index for the region is 0,55, , while for the province it is 0,48.

Total Bankrupt companies in the province : 3.452.

Total Bankrupt companies in the region : 39.612.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.27

UK Pound

1

Rs.72.08

Euro

1

Rs.63.66

 

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.