MIRA
INFORM REPORT
|
Report Date : |
27.04.2011 |
IDENTIFICATION DETAILS
|
Name : |
STALAM S.P.A. |
|
|
|
|
Registered Office : |
Via Dell' Olmo,7 36055- Nove(VI) |
|
|
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|
Country : |
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|
|
|
Financials (as on) : |
31.12.2009 |
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|
|
|
Date of Incorporation : |
14.09.1989 |
|
|
|
|
Com. Reg. No.: |
VI012-7165 since 19/02/1996 |
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|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacture of assembled electronic boards |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
25.000 - Eur |
|
Status : |
Moderate |
|
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 |
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Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Name and address
Stalam S.p.A.
Via Dell' Olmo,7
36055- Nove(VI)-IT-
Summary
|
Fiscal Code |
: |
02083930244 |
|
Legal Form |
: |
Joint stock company |
|
start of Activities |
: |
14/09/1989 |
|
Equity |
: |
2.500.000 Eur |
|
|
: |
3.750.000/5.000.000 Eur |
|
Number of Employees |
: |
from 26 to 35 |
Credit Analysis
|
Credit Opinion |
: |
25.000 - Eur |
Activity
Manufacture of assembled electronic boards
Manufacture of broadcasting equipment
Legal Data
Legal Form : Joint stock company
|
Fiscal Code : 02083930244 |
|
Foreign Trade Reg. no. : VI007174 since
06/12/1991 |
|
Foreign Trade Reg. no. : 007174 of |
|
Chamber of Commerce no. : 205055 of |
|
Firms' Register : VI012-7165 since
19/02/1996 |
|
V.A.T. Code : 02083930244 |
|
Establishment date |
: 18/07/1989 |
|
|
Start of Activities |
: 14/09/1989 |
|
|
Legal duration |
: 31/12/2050 |
|
|
Nominal Capital |
: 665.000 |
Eur |
|
Subscribed Capital |
: 665.000 |
Eur |
|
Paid up Capital |
: 665.000 |
Eur |
Members
|
|
Cavestro |
Manlio |
|
|
|
Born in Sossano |
(VI) |
on 29/08/1937 |
- Fiscal Code : CVSMNL37M29I867E |
|
|
|
Residence : |
Via |
Pantheon |
, 63 |
- 37100 |
|
(VR) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Managing Director |
08/02/2010 |
|
|
|
Director |
27/04/2009 |
|
|
|
Board Chairman |
27/04/2009 |
|
|
|
|
No Protests
registered |
|
|
Monis |
Marco |
|
|
|
Born in |
(TV) |
on 14/12/1971 |
- Fiscal Code : MNSMRC71T14L407O |
|
|
|
Residence : |
Via |
Gazzie |
, 58 |
- 31050 |
Vedelago |
(TV) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
27/04/2009 |
|
|
|
|
No Protests
registered |
|
|
Zanetti |
Enrico |
|
|
|
Born in Bassano del Grappa |
(VI) |
on 16/06/1964 |
- Fiscal Code : ZNTNRC64H16A703T |
|
|
|
Residence : |
Via |
Ognissanti |
, 39/C |
- 36061 |
Bassano del Grappa |
(VI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
27/04/2009 |
|
|
|
|
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.
|
|
CAVESTRO |
MANLIO |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
B.M.B. ELETTRONICA INDUSTRIALE S.P.A. |
Genova (GE) - IT - |
00163160245 |
Director |
Withdrawn |
Ceased |
|
C.S.P.NOVA SPA |
Buccinasco (MI) - IT - |
08649250159 |
Director |
Active |
Registered |
|
CADIF S.R.L. |
San Martino Buon Albergo (VR) - IT - |
02538350238 |
Director |
Active |
Registered |
|
CADIF S.R.L. |
San Martino Buon Albergo (VR) - IT - |
02538350238 |
Board Chairman |
Active |
Registered |
|
E.C.S. ELETTRONICA CIRCUITI STAMPATI
S.P.A. |
San Maurizio Canavese (TO) - IT - |
01654070018 |
Chairman |
Withdrawn |
Registered |
|
ELETTRONICA DI PARTECIPAZIONE S.P.A.
ABBREVIABILE IN ELPART S.P.A. |
|
03012090241 |
Sole Director |
Withdrawn |
Registered |
|
I.E.G. - INDUSTRIE ELETTROMECCANICHE
GIULIANE SPA |
Genova (GE) - IT - |
00050170323 |
Director |
Withdrawn |
Ceased |
|
M E T COSTRUZIONI S.R.L. |
|
03271080230 |
Managing
Director |
Active |
Registered |
|
M E T COSTRUZIONI S.R.L. |
|
03271080230 |
Director |
Active |
Registered |
|
PARTEL S.P.A. |
- - |
02942430246 |
Sole Director |
Withdrawn |
Ceased |
|
STALAM S.R.L. |
TEZZE SUL BRENTA (VI) - IT - |
|
Chairman |
Withdrawn |
Ceased |
|
STALPART S.R.L. |
|
03003710245 |
Sole Director |
Active |
Registered |
|
TERMOCADIF S.R.L. |
|
02651960235 |
Director |
Withdrawn |
Registered |
|
THERMO ENGINEERING S.R.L. |
|
03176930232 |
Sole Director |
Active |
Registered |
|
ZAMBON F.LLI S.P.A. - IN FALLIMENTO |
San Vito di Leguzzano (VI) - IT - |
02671120240 |
Managing
Director |
Active |
Registered |
|
ZAMBON F.LLI S.P.A. - IN FALLIMENTO |
San Vito di Leguzzano (VI) - IT - |
02671120240 |
Director |
Active |
Registered |
|
ZAMBON F.LLI S.P.A. - IN FALLIMENTO |
San Vito di Leguzzano (VI) - IT - |
02671120240 |
Board Chairman |
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 |
|
21 Partners Societa' Di Gestione Del Ris
parmio S.p.a. O, In Forma Abbreviata, |
|
03553080965 |
189.525 .Eur |
28,50 |
|
Stalpart S.r.l. |
|
03003710245 |
442.225 .Eur |
66,50 |
|
Zanetti Enrico |
Bassano del Grappa - IT - |
ZNTNRC64H16A703T |
33.250 .Eur |
5,00 |
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 |
|
Afotech S.r.l. |
|
02481990303 |
2.000 .Eur |
20,00 |
|
|
Active |
Firm's location and structure
In order to carry out its activities the
firm uses the following locations:
|
- |
Legal and
operative seat |
(Factory ) |
|
|
|
|
|
Via |
Dell' Olmo |
, 7 |
- 36055 |
- Nove |
(VI) |
- IT - |
|
|
|
|
PHONE |
: 0424/597400 |
|
|
|
|
FAX |
: 0424/597400 |
|
|
|
|
FAX |
: 0424/590722 |
|
- |
Branch |
(Warehouse ) |
since 01/09/2008 |
|
|
|
|
|
Via |
Dell'olmo |
, 8 |
- 36055 |
- Nove |
(VI) |
- IT - |
|
|
|
|
Employees |
: 30 |
|
Fittings and Equipment for a value of
39.000 |
Eur |
|
Stocks for a value of 1.320.000 |
Eur |
The firm has a direct commercial
organization
The company sells in
|
|
The firm operates abroad as importer /
exporter. .
Export represents from 20% to 50% of the
global turnover.
Products abroad are placed by :
|
- its own sales net-work |
|
- its own agents |
Import comes generally from the following
nations:
|
- Francia |
|
- Belgio |
|
- Gran Bretagna |
|
- |
Export is mainly towards:
|
- |
Historical Information and/or Firm's Status
CHANGES TO THE
LEGAL FORM:
|
Former legal form |
New legal form |
Changement Date |
|
Limited liability company |
Joint stock company |
19/02/1998 |
EX-MEMBERS /
EX-POSITIONS:
|
|
Agostini |
Romano |
|
|
|
Born in Mori |
on 05/10/1940 |
- Fiscal Code : GSTRMN40R05F728M |
|
|
|
Residence : |
Piazzale |
Cantore Antonio |
, 12 |
- 20100 |
Milano |
(MI) |
- IT - |
|
Ex-Postions |
|
Director |
|
|
Pilastro |
Pierantonio |
|
|
|
Born in |
on 27/11/1946 |
- Fiscal Code : PLSPNT46S27L840F |
|
|
|
Residence : |
Via |
L. Chiminelli |
, 3 |
- 36100 |
|
(VI) |
- IT - |
|
Ex-Postions |
|
Permanent Auditor |
|
|
Matalone |
Michela |
|
|
|
Born in |
on 13/10/1960 |
- Fiscal Code : MTLMHL60R53L840V |
|
|
|
Residence : |
Viale |
|
, 433 |
- 36100 |
|
(VI) |
- IT - |
|
Ex-Postions |
|
Temporary Auditor |
|
|
Ferronato |
Francesco |
|
|
|
Born in |
on 25/08/1966 |
- Fiscal Code : FRRFNC66M25L840Y |
|
|
|
Residence : |
Via |
S.bastiano |
, 2 |
- 36100 |
|
(VI) |
- IT - |
|
Ex-Postions |
|
Temporary Auditor |
|
|
De Benedetti |
Mario |
|
|
|
Born in |
on 08/05/1965 |
- Fiscal Code : DBNMRA65E08L219E |
|
|
|
Residence : |
Piazza |
Castello |
, 51 SC. B |
- 10100 |
|
(TO) |
- IT - |
|
Ex-Postions |
|
Director |
|
|
Aron |
Jean Francois |
|
|
|
Born in Suresnes |
on 06/09/1963 |
- Fiscal Code : RNAJFR63P06Z110U |
|
|
|
Residence : |
Via |
Alberto Da Giussano |
, 22 |
- 20145 |
Milano |
(MI) |
- IT - |
|
Ex-Postions |
|
Director |
|
|
Perucca Orfei |
Massimo |
|
|
|
Born in CORREGGIO |
on 07/02/1940 |
- Fiscal Code : PRCMSM40B07D037H |
|
|
|
Residence : |
Corso |
SS. FELICE FORTUNATO |
, 356 |
- 36100 |
|
(VI) |
- IT - |
|
Ex-Postions |
|
Managing Director |
|
Director |
|
|
ELETTRONICA DI
PARTECIPAZIONE S.P.A. ABB |
REVIABILE IN ELPART
S.P.A. |
|
- Fiscal Code : 03012090241 |
|
|
|
Residence : |
Via |
DEL COMMERCIO |
, 56 |
- 36100 |
|
(VI) |
- IT - |
|
Ex-Postions |
|
Sole partner |
CEASINGS/INCORPORATIONS/MERGES:
|
|
The firm
absorved |
|
|
|
STALAM S.R.L. |
|
|
|
, TEZZE SUL BRENTA |
(VI) |
- IT - |
|
|
|
Date |
: |
13/06/1991 |
|
|
The firm
absorbed by merging of |
|
|
|
STALAM S.R.L. |
|
|
|
, TEZZE SUL BRENTA |
(VI) |
- IT - |
|
|
|
Date |
: |
13/06/1991 |
|
|
Project of
merging by taking over of |
|
|
|
ELETTRONICA DI
PARTECIPAZIONE S.P.A. ABBREVIABILE IN ELPART S.P.A. |
|
|
|
Via |
DEL COMMERCIO |
, 56 |
, 36100 |
, |
(VI) |
- IT - |
|
|
|
Fiscal Code: 03012090241 |
|
|
|
Date |
Merging/splitting-up project : |
27/03/2006 |
|
|
The firm
absorbed by merging of |
|
|
|
ELETTRONICA DI
PARTECIPAZIONE S.P.A. ABBREVIABILE IN ELPART S.P.A. |
|
|
|
Via |
DEL COMMERCIO |
, 56 |
, 36100 |
, |
(VI) |
- IT - |
|
|
|
Fiscal Code: 03012090241 |
|
|
|
Date |
: |
13/06/2006 |
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 1989.
The eonomic-financial analysis is based on
the latest 3 b/s.
Unstable economic results mark the company's
financial state of affairs. with a loss in the last financial year. The
turnover is falling if compared with the previous financial year (EFAT1E%).
The operating result is negative.
The operating loss amounts to Eur. -826.819
.
The GOM is negative and amounts to Eur.
-246.972.
Very good financial situation: shareholder's
equity covers short-terms debts with an indebtedness level equal to 0,87 and
with an upward trend compared to the previous year.
The management generated equity capital for
an amount of Eur. 2.363.594 , unchanged if compared to 2008.
During the last financial year total debts
volume reached Eur. 4.996.490 (Eur. 2.929.758 were m/l term ones) , with a fall
of -26,97%.
Both financial indebtedness and suppliers
exposure are rather high anyway better than the field's average.
It shows a not very good liquidity level.
As to due from customers, the average terms
are 36,14 days. , that compared to the sector's average is shorter.
The financial management generated a
negative cash flow (Eur. -68.221).
In the last financial year labour cost was
of Eur. 1.558.703, with a 26,36% incidence on total costs of production. ,
whereas the incidence on sales revenues is of 31,57%.
No incidence of financial charges as lower
than the incomes.
Financial Data
|
|
|
Complete balance-sheet for the year |
31/12/2009 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
4.937.339 |
|
Profit (Loss) for the period |
-648.068 |
|
|
|
Complete balance-sheet for the year |
31/12/2008 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
10.205.067 |
|
Profit (Loss) for the period |
258.085 |
|
|
|
Complete balance-sheet for the year |
31/12/2007 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
7.988.844 |
|
Profit (Loss) for the period |
-223.332 |
|
|
|
Complete balance-sheet for the year |
31/12/2006 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
8.158.855 |
|
Profit (Loss) for the period |
-42.591 |
|
|
|
Complete balance-sheet for the year |
31/12/2005 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
8.187.177 |
|
Profit (Loss) for the period |
526.688 |
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 |
0,75 |
0,66 |
0,67 |
0,15 |
|
Elasticity Ratio |
Units |
0,25 |
0,34 |
0,31 |
0,82 |
|
Availability of stock |
Units |
0,16 |
0,15 |
0,15 |
0,19 |
|
Total Liquidity Ratio |
Units |
0,08 |
0,19 |
0,16 |
0,58 |
|
Quick Ratio |
Units |
0,00 |
0,02 |
0,01 |
0,04 |
|
COMPOSITION ON
SOURCE |
|
|
|
|
|
|
Net Short-term indebtedness |
Units |
0,87 |
1,88 |
2,11 |
2,56 |
|
Self Financing Ratio |
Units |
0,29 |
0,25 |
0,20 |
0,20 |
|
Capital protection Ratio |
Units |
0,99 |
0,68 |
0,87 |
0,63 |
|
Liabilities consolidation quotient |
Units |
1,70 |
0,51 |
0,74 |
0,20 |
|
Financing |
Units |
2,11 |
2,72 |
3,52 |
3,23 |
|
Permanent Indebtedness Ratio |
Units |
0,72 |
0,49 |
0,52 |
0,37 |
|
M/L term Debts Ratio |
Units |
0,43 |
0,25 |
0,32 |
0,11 |
|
Net Financial Indebtedness Ratio |
Units |
1,42 |
n.c. |
2,01 |
0,47 |
|
CORRELATION |
|
|
|
|
|
|
Fixed assets ratio |
Units |
0,96 |
0,74 |
0,77 |
2,10 |
|
Current ratio |
Units |
0,97 |
0,70 |
0,72 |
1,32 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
0,33 |
0,39 |
0,37 |
0,98 |
|
Structure's primary quotient |
Units |
0,39 |
0,37 |
0,29 |
1,29 |
|
Treasury's primary quotient |
Units |
0,00 |
0,04 |
0,03 |
0,07 |
|
Rate of indebtedness ( Leverage ) |
% |
345,61 |
405,71 |
496,58 |
481,99 |
|
Current Capital ( net ) |
Value |
-53.671 |
-1.479.223 |
-1.280.283 |
481.923 |
|
RETURN |
|
|
|
|
|
|
Return on Sales |
% |
- 1,38 |
8,34 |
3,45 |
4,06 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
- 27,42 |
10,28 |
- 10,46 |
9,25 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
- 30,64 |
24,06 |
- 9,59 |
26,65 |
|
Return on Investment ( R.O.I. ) |
% |
- 10,12 |
9,06 |
0,91 |
6,29 |
|
Return/ Sales |
% |
- 16,75 |
9,05 |
1,21 |
5,29 |
|
Extra Management revenues/charges incid. |
% |
n.c. |
27,95 |
- 229,95 |
31,16 |
|
Cash Flow |
Value |
-68.221 |
851.278 |
275.618 |
144.339 |
|
Operating Profit |
Value |
-826.819 |
923.370 |
97.118 |
177.763 |
|
Gross Operating Margin |
Value |
-246.972 |
1.516.563 |
596.068 |
276.664 |
|
MANAGEMENT |
|
|
|
|
|
|
Credits to clients average term |
Days |
36,14 |
n.c. |
66,52 |
130,42 |
|
Debts to suppliers average term |
Days |
104,89 |
n.c. |
110,66 |
150,44 |
|
Average stock waiting period |
Days |
96,34 |
52,75 |
73,15 |
53,20 |
|
Rate of capital employed return ( Turnover
) |
Units |
0,60 |
1,00 |
0,75 |
1,25 |
|
Rate of stock return |
Units |
3,74 |
6,82 |
4,91 |
6,75 |
|
Labour cost incidence |
% |
31,57 |
19,03 |
20,73 |
18,06 |
|
Net financial revenues/ charges incidence |
% |
3,34 |
- 2,81 |
- 3,44 |
- 0,91 |
|
Labour cost on purchasing expenses |
% |
26,36 |
20,94 |
20,35 |
18,70 |
|
Short-term financing charges |
% |
3,34 |
4,47 |
4,10 |
2,35 |
|
Capital on hand |
% |
165,45 |
99,85 |
132,65 |
79,56 |
|
Sales pro employee |
Value |
164.577 |
318.908 |
285.315 |
200.425 |
|
Labour cost pro employee |
Value |
51.956 |
60.693 |
59.147 |
33.907 |
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:
25.000 Eur.
Market / Territory Data
|
Population living in the province |
: |
831.356 |
|
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 949
significant companies.
The companies cash their credits on an
average of 130 dd.
The average duration of suppliers debts is
about 150 dd.
The sector's profitability is on an average
of 4,06%.
The labour cost affects the turnover in the
measure of 18,06%.
Goods are held in stock in a range of 53 dd.
The difference between the sales volume and
the resources used to realize it is about 1,25.
The employees costs represent the 18,70% of
the production costs.
Statistical Detrimental Data
The area is statistically considered lowly
risky.
In the region 13.782 protested subjects are
found; in the province they count to 2.234.
The insolvency index for the region is 0,30,
, while for the province it is 0,27.
Total Bankrupt companies in the province :
2.546.
Total Bankrupt companies in the region :
16.714.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.59 |
|
|
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.