MIRA INFORM REPORT

 

 

Report Date :

27.04.2011

 

IDENTIFICATION DETAILS

 

Name :

PROMOTEC S.R.L.

 

 

Registered Office :

 

Via Monte Cimone,13 Tencarola

35030- Selvazzano Dentro (PD)

 

 

Country :

Italy

 

 

Financials (as on) :

31.12.2009

 

 

Date of Incorporation :

28.02.1994

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Manufacture of metal forming machinery and tool machines

 

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 :

45.000 - Eur

Status :

Satisfactory

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

 

Promotec S.r.l.

 

Via Monte Cimone,13 Tencarola

35030- Selvazzano Dentro(PD)-IT-

 

 

Summary

 

Fiscal Code

:

00021530282

Legal Form

:

Limited liability company

start of Activities

:

28/02/1994

Equity

:

1.000.000 Eur

Turnover Range

:

7.750.000/9.000.000 Eur

Number of Employees

:

from 26 to 35

 

 

Credit Analysis

 

Credit Opinion

:

45.000 - Eur

 

Activity

 

Manufacture of metal forming machinery and tool machines

 

Legal Data

 

Legal Form : Limited liability company

Fiscal Code : 00021530282

 

Foreign Trade Reg. no. : PD040798 since 28/03/1997

 

Foreign Trade Reg. no. : 40798 of Padova since 28/03/1997

 

Chamber of Commerce no. : 247100 of Padova since 15/03/1994

 

V.A.T. Code : 00021530282

 

R. E. C. no. : 63820 of Padova

 

Foundation date

: 26/07/1993

Establishment date

: 26/07/1993

Start of Activities

: 28/02/1994

Legal duration

: 31/12/2050

Nominal Capital

: 101.489

Eur

Subscribed Capital

: 101.489

Eur

Paid up Capital

: 101.489

Eur

 

Members

 

 

Marcato

Paolo

 

 

 

Born in Abano Terme

(PD)

on 01/01/1954

- Fiscal Code : MRCPLA54A01A001A

 

 

 

Residence :

Via

Dei Larici

, 2

- 35031

Teolo

(PD)

- IT -

 

Position

Since

Shares Amount

% Ownership

Sole Director

15/01/2009

 

 

 

 

No Protests registered

 

Companies connected to members *

 

*checkings have been performed on a national scale.

In this module the companies in which members hold/held positions are listed.

 

The Members of the subject firm are not reported to be Members in other companies.

 

Capital Shareholders

 

Shareholders' list as at date of data collection:

 

Firm's Style / Name

Seat / Residence

Fiscal Code

Owned Shares

% Ownership

Marcato Paolo

Teolo - IT -

MRCPLA54A01A001A

25.735 .Eur

25,35

Marcato Leopoldo

Abano Terme - IT -

MRCLLD58T03G224S

5.098 .Eur

5,02

Benetollo Daniela

 

BNTDNL54A59F241P

70.656 .Eur

69,61

 

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

Monte Cimone

, 13 Loc. Tencarola

- 35030

- Selvazzano Dentro

(PD)

- IT -

 

 

 

 

PHONE

: 049/9004619

 

 

 

 

FAX

: 049/9004679

 

-

Branch

 

since 16/03/1997

 

 

 

 

 

Via

Levico N. 25/a

- 35035

- Mestrino

(PD)

- IT -

 

 

 

 

Employees

: 31

 

Fittings and Equipment for a value of 45.000

Eur

 

Stocks for a value of 1.650.000

Eur

 

Trade organization: direct or by agents.

The company sells in Italy and abroad.

The company 's mainly customers are companies.

 

The firm operates abroad as exporter. .

Subject generally proposes terms of sale between 30 and 60 days.

Financial means used for sale: bank transfers and bank orders.

Purchases are mainly paid with terms of 30/90 days.

Main used payment modalities are by cash orders and bank transfers.

 

Import comes generally from the following nations:

- Europa

 

Export is mainly towards:

- Cina

 

- Russia

 

- India

 

- America

 

 

Historical Information and/or Firm's Status

 

EX-MEMBERS / EX-POSITIONS:

 

 

Marcato

Paolo

 

 

 

Born in Abano Terme

on 01/01/1954

- Fiscal Code : MRCPLA54A01A001A

 

 

 

Residence :

Via

Dei Larici

, 2

- 35031

Teolo

(PD)

- IT -

 

Ex-Postions

Director

Sole Director

Managing Director

Board Chairman

 

 

Marcato

Leopoldo

 

 

 

Born in Padova

on 03/12/1958

- Fiscal Code : MRCLLD58T03G224S

 

 

 

Residence :

Vicolo

Delle Terme

, 12

- 35031

Abano Terme

(PD)

- IT -

 

Ex-Postions

Director

 

 

Villa

Angelo

 

 

 

Born in Valmorea

on 19/06/1963

- Fiscal Code : VLLNGL63H19L634D

 

 

 

Residence :

Via

G. Fiocchi

, 42

- 22016

Lecco

(LC)

- IT -

 

Ex-Postions

Director

 

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.

 

Bankers

 

The firm operates with:

 

Bank Name

Agency Name

Address

ZIP Code

City

ABI Code

CAB Code

INTESA SANPAOLO SPA

 

 

 

 

3069

0

 

Financial and Economical Analysis

 

Company's starting of activities dates back to 1994.

An eco-fin analysis has been made on the base od the b/s fo the years 2007, 2008 and 2009.

Under an economic point of view, profits were registered during the last years with a r.o.e. of 0,23% in 2009

The operating result was positive in the last financial year (7,03%) falling within the field's average.

The amount of the operating result for the year 2009 is of Eur. 519.526 with a 80,11% growth.

During the latest financial year the gross operating margin amounted to Eur. 740.845 showing a 39,11% growth.

The financial position is not well balanced as the volume of debts is fairly remarkable if compared to shareholder's equity, in fact total debts are 6,12 but on the decrease if compared to the year before.

With regard to equity capital, an amount of Eur. 811.882 is registered. on the same levels as the year before.

Total indebtedness was equal to Eur. 6.266.009 (Eur. 1.286.038 was the value of m/l term debts) showing a stable trend as opposed to 2008 (Eur. 7.030.076).

Financial debts as well as debts to suppliers are rather high even if it still falls within the sector's average.

Liquidity is not completely adequate.

As far as the collection of credit goes, the average is high (133,88 days). within the standard level of the average of the sector.

2009 financial year closed with a cash flow of Eur. 223.172

Labour cost expenses amount to Eur. 1.494.019 , representing 18,65% on the total of production costs. and a 18,88% incidence on sales volumes.

The incidence percentage of financial charges on sales volume is equal to -2,39%.

 

Financial Data

 

 

 

Complete balance-sheet for the year

31/12/2009

(in Eur

x 1 )

 

Item Type

Value

Sales

7.913.481

Profit (Loss) for the period

1.853

 

 

 

Complete balance-sheet for the year

31/12/2008

(in Eur

x 1 )

 

Item Type

Value

Sales

9.301.598

Profit (Loss) for the period

1.288

 

 

 

Complete balance-sheet for the year

31/12/2007

(in Eur

x 1 )

 

Item Type

Value

Sales

9.257.461

Profit (Loss) for the period

385.197

 

 

 

Complete balance-sheet for the year

31/12/2006

(in Eur

x 1 )

 

Item Type

Value

Sales

6.630.084

Profit (Loss) for the period

16.551

 

 

 

Complete balance-sheet for the year

31/12/2005

(in Eur

x 1 )

 

Item Type

Value

Sales

4.745.174

Profit (Loss) for the period

14.641

 

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

 

 

 

. . Research,develop. and advert.expens.

299.648

108.000

 

. . Industrial patent rights

 

 

 

. . Concessions,licenses,trademarks,etc.

30.726

49.253

 

. . Goodwill

 

 

 

. . Assets in formation and advance paymen.

1.213.055

1.347.321

 

. . Other intangible fixed assets

337.782

365.092

 

. Total Intangible Fixed Assets

1.881.211

1.869.666

950.246

. TANGIBLE FIXED ASSETS

 

 

 

. . Real estate

 

 

 

. . Plant and machinery

15.852

148.604

 

. . Industrial and commercial equipment

29.019

32.989

 

. . Other assets

111.667

196.152

 

. . Assets under construction and advances

347.686

45.402

 

. Total Tangible fixed assets

504.224

423.147

314.563

. FINANCIAL FIXED ASSETS

 

 

 

. . Equity investments

17.538

17.038

 

. . . Equity invest. in subsidiary companies

 

 

 

. . . Equity invest. in associated companies

 

 

 

. . . Equity invest. in holding companies

 

 

 

. . . Equity invest. in other companies

17.538

17.038

 

. . Financial receivables

38.600

8.600

 

. . . . Within 12 months

30.000

 

 

. . . . Beyond 12 months

8.600

8.600

 

. . . Receivab due from subsidiaries

 

 

 

. . . . 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

 

 

 

. . . Receivables due from third parties

38.600

8.600

 

. . . . Within 12 months

30.000

 

 

. . . . Beyond 12 months

8.600

8.600

 

. . Other securities

 

120.000

 

. . Own shares

 

 

 

. . . Total nominal value

 

 

 

. Total financial fixed assets

56.138

145.638

21.049

Total fixed assets

2.441.573

2.438.451

1.285.858

CURRENT ASSETS

 

 

 

. INVENTORIES

 

 

 

. . Raw materials and other consumables

975.935

1.311.863

 

. . Work in progress and semimanufactured

400.500

373.371

 

. . Work in progress on order

 

 

 

. . Finished goods

269.694

327.228

 

. . Advance payments

 

 

 

. Total Inventories

1.646.129

2.012.462

1.780.709

. CREDITS NOT HELD AS FIXED ASSETS

 

 

 

. . Within 12 months

3.000.803

3.391.613

4.389.624

. . Beyond 12 months

 

36.480

50.480

. . Trade receivables

2.942.836

3.324.704

 

. . . . Within 12 months

2.942.836

3.324.704

 

. . . . 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

16.278

15.377

 

. . . . Within 12 months

16.278

15.377

 

. . . . Beyond 12 months

 

 

 

. . Receivables for anticipated taxes

 

9.243

 

. . . . Within 12 months

 

9.243

 

. . . . Beyond 12 months

 

 

 

. . Receivables due from third parties

41.689

78.769

 

. . . . Within 12 months

41.689

42.289

 

. . . . Beyond 12 months

 

36.480

 

. Total Credits not held as fixed assets

3.000.803

3.428.093

4.440.104

. 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

114.228

51.728

 

. Total Financial Assets

114.228

51.728

58.466

. LIQUID FUNDS

 

 

 

. . Bank and post office deposits

8.808

36.858

 

. . Checks

 

174

 

. . Banknotes and coins

1.468

245

 

. Total Liquid funds

10.276

37.277

110.832

Total current assets

4.771.436

5.529.560

6.390.111

ADJUSTMENT ACCOUNTS

 

 

 

. Discount on loans

 

 

 

. Other adjustment accounts

180.837

196.683

185.357

Total adjustments accounts

180.837

196.683

185.357

TOTAL ASSETS

7.393.846

8.164.694

7.861.326

 

 

 

 

LIABILITIES

 

 

 

STOCKHOLDERS' EQUITY

 

 

 

. Capital stock

101.489

101.489

101.489

. Additional paid-in capital

 

 

 

. Revaluation reserves

 

 

 

. Legal reserve

20.298

20.298

6.433

. Reserve for Own shares

 

 

 

. Statute reserves

 

 

 

. Other reserves

688.242

686.954

315.619

. Accumulated Profits (Losses)

 

 

 

. Profit( loss) of the year

1.853

1.288

385.197

. Advances on dividends

 

 

 

. Partial loss of the year Coverage

 

 

 

Total Stockholders'Equity

811.882

810.029

808.738

RESERVES FOR RISKS AND CHARGES

 

 

 

. . Reserve for employee termination indem.

580

580

 

. . Taxation fund, also differed

8.313

18.329

 

. . Other funds

 

 

 

Total Reserves for Risks and Charges

8.893

18.909

24.971

Employee termination indemnities

226.818

193.554

153.080

ACCOUNTS PAYABLE

 

 

 

. . . . Within 12 months

4.979.971

5.996.471

6.436.026

. . . . Beyond 12 months

1.286.038

1.033.605

343.152

. . Bonds

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Convertible bonds repayable

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Due to shareholders for financing

44.216

48.073

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

44.216

48.073

 

. . Due to banks

3.403.509

2.947.446

 

. . . . Within 12 months

2.161.687

1.972.968

 

. . . . Beyond 12 months

1.241.822

974.478

 

. . Due to other providers of finance

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Advances from customers

1.149

425.000

 

. . . . Within 12 months

1.149

425.000

 

. . . . Beyond 12 months

 

 

 

. . Trade payables

2.210.655

2.713.861

 

. . . . Within 12 months

2.210.655

2.713.861

 

. . . . Beyond 12 months

 

 

 

. . Securities issued

 

90.000

 

. . . . Within 12 months

 

90.000

 

. . . . 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

312.679

148.442

 

. . . . Within 12 months

312.679

137.388

 

. . . . Beyond 12 months

 

11.054

 

. . Due to social security and welfare inst.

58.433

71.010

 

. . . . Within 12 months

58.433

71.010

 

. . . . Beyond 12 months

 

 

 

. . Other payables

235.368

586.244

 

. . . . Within 12 months

235.368

586.244

 

. . . . Beyond 12 months

 

 

 

Total accounts payable

6.266.009

7.030.076

6.779.178

ADJUSTMENT ACCOUNTS

 

 

 

. Agio on loans

 

 

 

. Other adjustment accounts

80.244

112.126

95.359

Total adjustment accounts

80.244

112.126

95.359

TOTAL LIABILITIES

7.393.846

8.164.694

7.861.326

 

 

 

 

 

 

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

7.913.481

9.301.598

9.257.461

. Changes in work in progress

27.129

300.495

-622.684

. Changes in semi-manufact. products

 

 

 

. Capitalization of internal work

452.794

1.170.260

452.060

. Other income and revenues

137.839

43.529

117.775

. . Contributions for operating expenses

 

 

 

. . Different income and revenues

137.839

43.529

117.775

Total value of production

8.531.243

10.815.882

9.204.612

PRODUCTION COSTS

 

 

 

. Raw material,other materials and consum.

4.247.285

6.367.552

5.767.854

. Services received

1.304.703

1.871.672

1.437.773

. Leases and rentals

269.676

318.347

197.567

. Payroll and related costs

1.494.019

1.613.650

1.247.883

. . Wages and salaries

1.075.074

1.174.794

912.472

. . Social security contributions

336.527

356.808

274.793

. . Employee termination indemnities

78.077

75.276

58.761

. . Pension and similar

 

 

 

. . Other costs

4.341

6.772

1.857

. Amortization and depreciation

221.319

244.091

216.968

. . Amortization of intangible fixed assets

162.221

166.552

160.374

. . Amortization of tangible fixed assets

44.252

77.539

56.594

. . Depreciation of tangible fixed assets

 

 

 

. . Writedown of current receiv.and of liquid

14.846

 

 

. Changes in raw materials

393.461

68.742

-465.766

. Provisions to risk reserves

 

 

 

. Other provisions

 

 

 

. Other operating costs

81.254

43.382

87.650

Total production costs

8.011.717

10.527.436

8.489.929

Diff. between value and cost of product.

519.526

288.446

714.683

FINANCIAL INCOME AND EXPENSE

 

 

 

. Income from equity investments

 

 

 

. . In subsidiary companies

 

 

 

. . In associated companies

 

 

 

. . In other companies

 

 

 

. Other financial income

10.131

33.764

30.542

. . Financ.income from receivables

 

 

 

. . . Towards subsidiary companies

 

 

 

. . . Towards associated companies

 

 

 

. . . Towards holding companies

 

 

 

. . . Towards other companies

 

 

 

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

1.150

913

 

. . Financ.income from secur. cur.assets

 

 

992

. . Financ.income other than the above

8.981

32.851

29.550

. . . - Subsidiary companies

 

 

 

. . . - Associated companies

 

 

 

. . . - Holding companies

 

 

 

. . . - Other companies

 

 

 

. Interest and other financial expense

-198.965

-217.652

-230.416

. . Towards subsidiary companies

 

 

 

. . Towards associated companies

 

 

 

. . Towards holding companies

 

 

 

. . Towards other companies

 

 

 

Total financial income and expense

-188.834

-183.888

-199.874

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

31.858

21.274

58.687

. . Gains on disposals

 

 

 

. . Other extraordinary income

31.858

21.274

58.687

. Extraordinary expense

-292.887

-39.401

-36.243

. . Losses on disposals

 

-5.500

 

. . Taxes relating to prior years

 

 

 

. . Other extraordinary expense

-292.887

-33.901

-36.243

Total extraordinary income and expense

-261.029

-18.127

22.444

Results before income taxes

69.663

86.431

537.253

. Taxes on current income

67.810

85.143

152.056

. . current taxes

68.583

100.448

151.373

. . differed taxes(anticip.)

-773

-15.305

683

. Net income for the period

1.853

1.288

385.197

. Adjustments in tax regulations pursuance

 

 

 

. Provisions in tax regulations pursuance

 

 

 

. Profit (loss) of the year

1.853

1.288

385.197

 

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

0,33

0,30

0,16

0,18

Elasticity Ratio

Units

0,65

0,68

0,81

0,80

Availability of stock

Units

0,22

0,25

0,22

0,26

Total Liquidity Ratio

Units

0,42

0,43

0,58

0,44

Quick Ratio

Units

0,02

0,01

0,02

0,02

COMPOSITION ON SOURCE

 

 

 

 

 

Net Short-term indebtedness

Units

6,12

7,36

7,82

3,95

Self Financing Ratio

Units

0,11

0,10

0,10

0,13

Capital protection Ratio

Units

0,87

0,87

0,39

0,60

Liabilities consolidation quotient

Units

0,30

0,20

0,07

0,11

Financing

Units

7,72

8,68

8,38

5,08

Permanent Indebtedness Ratio

Units

0,31

0,25

0,16

0,30

M/L term Debts Ratio

Units

0,20

0,15

0,06

0,08

Net Financial Indebtedness Ratio

Units

4,23

3,65

n.c.

0,76

CORRELATION

 

 

 

 

 

Fixed assets ratio

Units

0,95

0,84

1,01

1,78

Current ratio

Units

0,96

0,92

0,99

1,21

Acid Test Ratio-Liquidity Ratio

Units

0,63

0,59

0,71

0,67

Structure's primary quotient

Units

0,33

0,33

0,62

0,93

Treasury's primary quotient

Units

0,03

0,01

0,02

0,02

Rate of indebtedness ( Leverage )

%

910,70

1.007,95

972,04

711,85

Current Capital ( net )

Value

-208.535

-466.911

-45.915

260.523

RETURN

 

 

 

 

 

Return on Sales

%

2,82

2,64

6,50

2,69

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

%

0,23

0,16

47,62

3,59

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

%

8,58

10,67

66,43

23,65

Return on Investment ( R.O.I. )

%

7,03

3,53

9,09

4,42

Return/ Sales

%

6,57

3,10

7,72

3,96

Extra Management revenues/charges incid.

%

0,36

0,45

53,89

14,09

Cash Flow

Value

223.172

245.379

602.165

61.403

Operating Profit

Value

519.526

288.446

714.683

126.277

Gross Operating Margin

Value

740.845

532.537

931.651

173.261

MANAGEMENT

 

 

 

 

 

Credits to clients average term

Days

133,88

128,68

172,65

127,36

Debts to suppliers average term

Days

136,70

117,95

250,00

154,41

Average stock waiting period

Days

74,89

77,89

69,22

107,40

Rate of capital employed return ( Turnover )

Units

1,07

1,14

1,17

1,06

Rate of stock return

Units

4,81

4,62

5,19

3,34

Labour cost incidence

%

18,88

17,35

13,47

21,45

Net financial revenues/ charges incidence

%

- 2,39

- 1,98

- 2,15

- 1,57

Labour cost on purchasing expenses

%

18,65

15,33

14,69

21,15

Short-term financing charges

%

3,18

3,10

3,39

3,24

Capital on hand

%

93,43

87,78

84,91

94,33

Sales pro employee

Value

239.802

290.674

420.793

182.108

Labour cost pro employee

Value

45.273

50.426

56.721

36.959

 

 

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:

 

45.000  Eur.

 

 

Market / Territory Data

 

Population living in the province

:

882.779

Population living in the region

:

4.699.950

Number of families in the region

:

1.813.210

 

Monthly family expences average in the region (in Eur.) :

 

- per food products

:

456

- per non food products

:

2.052

- per energy consume

:

127

 

Sector Data

 

The values are calculated on a base of 45 significant companies.

 

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

The average duration of suppliers debts is about 154 dd.

The sector's profitability is on an average of 2,69%.

The labour cost affects the turnover in the measure of 21,45%.

Goods are held in stock in a range of 107 dd.

The difference between the sales volume and the resources used to realize it is about 1,06.

The employees costs represent the 21,15% of the production costs.

 

Statistical Detrimental Data

 

The area is statistically considered moderately risky.

In the region 13.782 protested subjects are found; in the province they count to 2.646.

The insolvency index for the region is 0,30, , while for the province it is 0,30.

Total Bankrupt companies in the province : 3.821.

Total Bankrupt companies in the region : 16.714.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.59

UK Pound

1

Rs.73.44

Euro

1

Rs.64.81

 

 

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.