MIRA INFORM REPORT

 

 

Report Date :

28.02.2011

 

IDENTIFICATION DETAILS

 

Name :

SANDALJ TRADING COMPANY - S.P.A

 

 

Registered Office :

Via Rossini,       14,

34100- Trieste (TS) 

 

 

Country :

Italy

 

 

Financials (as on) :

31.12.2009

 

 

Date of Incorporation :

01.02.1979

 

 

Com. Reg. No.:

TS006-6965

 

 

Legal Form :

Joint Stock Company

 

 

Line of Business :

Wholesale of sugar and chocolate and sugar confectionery

 

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 :

170.000 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 – June 30, 2010

 

Country Name

Previous Rating

                   (01.04.2010)                  

Current Rating

(30.06.2010)

Italy

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name & address 

 

Sandalj Trading Company - S.p.a.

 

Via Rossini,       14

 

34100 - Trieste (TS) -IT-

 

 

Summary

 

Fiscal Code

:

03471360580

Legal Form

:

Joint stock company

start of Activities

:

01/02/1979

Equity

:

Over 2.582.254 Eur

Turnover Range

:

20.000.000/25.000.000 Eur

Number of Employees

:

from 11 to 15

 

 

Credit Analysis

 

Credit Opinion

:

170.000 - Eur

 

Activity

 

Wholesale of sugar and chocolate and sugar confectionery

Wholesale of tea, cocoa and spices

RETAIL TRADE (EXCEPT

 

Legal Data

 

Legal Form : Joint stock company

Fiscal Code : 03471360580

 

Foreign Trade Reg. no. : TS000328 since 04/12/1991

 

Foreign Trade Reg. no. : 852586 of Trieste

 

Chamber of Commerce no. : 80455 of Trieste since 28/11/1979

 

Firms' Register : TS006-6965

 

V.A.T. Code : 00287350326

 

Tribunal Co. Register : 6965 of Trieste

 

Foundation date

: 01/02/1979

Establishment date

: 01/02/1979

Start of Activities

: 01/02/1979

Legal duration

: 31/12/2030

Nominal Capital

: 2.000.000

Eur

Subscribed Capital

: 2.000.000

Eur

Paid up Capital

: 2.000.000

Eur

 

Members

 

 

Sandalj

Vincenzo

 

 

 

Born in Trieste

(TS)

on 09/06/1950

- Fiscal Code : SNDVCN50H09L424X

 

 

 

Residence :

Via

Di Romagna

, 129

- 34134

Trieste

(TS)

- IT -

 

Position

Since

Shares Amount

% Ownership

Director

22/05/2009

 

 

Board Chairman

22/05/2009

 

 

 

No Protests registered

 

 

Rossmann

Maurizio

 

 

 

Born in Trieste

(TS)

on 10/12/1957

- Fiscal Code : RSSMRZ57T10L424U

 

 

 

Residence :

Via

Marco Polo

, 8

- 34100

Trieste

(TS)

- IT -

 

Position

Since

Shares Amount

% Ownership

Managing Director

22/05/2009

 

 

Director

22/05/2009

 

 

 

 

No Protests registered

 

 

Venuti

Enrico

 

 

 

Born in Trieste

(TS)

on 27/12/1961

- Fiscal Code : VNTNRC61T27L424K

 

 

 

Residence :

Via

Scarlicchio

, 18/1

- 34100

Trieste

(TS)

- IT -

 

Position

Since

Shares Amount

% Ownership

Managing Director

22/05/2009

 

 

Director

22/05/2009

 

 

 

 

No Protests registered

 

Bieker

Egidio

 

 

 

Born in Trieste

(TS)

on 15/10/1953

- Fiscal Code : BKRGDE53R15L424A

 

 

 

Residence :

Via

Dei Mirissa

, 22/1

- 34100

Trieste

(TS)

- IT -

 

Position

Since

Shares Amount

% Ownership

Managing Director

22/05/2009

 

 

Director

22/05/2009

 

 

 

 

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.

 

 

SANDALJ

VINCENZO

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

PUNTA OLMI S. A R.L.

Trieste (TS) - IT -

00526720321

Director

Active

Registered

PUNTA OLMI S. A R.L.

Trieste (TS) - IT -

00526720321

Board Chairman

Active

Registered

SANCAFFE' S.R.L.

Trieste (TS) - IT -

00916820327

Sole Director

Active

Registered

TRIESTE COFFEE CLUSTER S.R.L.

Trieste (TS) - IT -

00876500323

Director

Active

Registered

TRIESTE COFFEE CLUSTER S.R.L.

Trieste (TS) - IT -

00876500323

Memb.of the Executive Committee

Active

Registered

 

 

ROSSMANN

MAURIZIO

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

FRATELLI COSULICH - SOCIETA' PER AZIONI ABBREVIABILE ANCHE IN F.LLI COSULICH S.P

Trieste (TS) - IT -

00051020329

Procurator

Withdrawn

Registered

SANCAFFE' S.R.L.

Trieste (TS) - IT -

00916820327

Attorney with special power

Active

Registered

 

 

VENUTI

ENRICO

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

SANCAFFE' S.R.L.

Trieste (TS) - IT -

00916820327

Attorney with special power

Active

Registered

 

BIEKER

EGIDIO

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

SANCAFFE' S.R.L.

Trieste (TS) - IT -

00916820327

Attorney with special power

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

Sandalj Trading Company - S.p.a.

Trieste - IT -

03471360580

200.000 .Eur

10,00

Sandalj Vincenzo

Trieste - IT -

SNDVCN50H09L424X

1.800.000 .Eur

90,00

 

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

Sandalj Trading Company - S.p.a.

Trieste - IT -

03471360580

200.000 .Eur

10,00

 

 

Active

 

 

Firm's location and structure

 

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

 

-

Legal and operative seat

 

 

 

 

 

 

Via

Rossini

, 14

- 34100

- Trieste

(TS)

- IT -

 

 

 

 

PHONE

: 040/6793911

 

 

 

 

Employees

: 14

 

Fittings and Equipment for a value of 37.000

Eur

 

Stocks for a value of 4.970.000

Eur

 

Vehicles for a value of 67.000

Eur

 

The firm operates abroad as importer / exporter. .

To purchase foreign products the firm uses the following channels :

- direct orders to foreign companies

Export represents up to 20% of the global turnover.

Products abroad are placed by :

- trading companies

 

Import comes generally from the following nations:

- Stati Uniti (USA)

 

- Guatemala GCA

 

 

 

- Guyana

 

 

Historical Information and/or Firm's Status

 

COMPANY STYLE MODIFICATIONS:

 

Former Style

New Style

Changement Date

Overseas Trading S.r.l.

 

17/05/1979

 

EX-MEMBERS / EX-POSITIONS:

 

 

Sandalj

Vincenzo

 

 

 

Born in Trieste

on 09/06/1950

- Fiscal Code : SNDVCN50H09L424X

 

 

 

Residence :

Via

Di Romagna

, 129

- 34134

Trieste

(TS)

- IT -

 

Ex-Postions

Sole 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

BANCA POP. FRIULADRIA SPA

 

 

 

 

5336

0

 

Immovables *

 

*Subject to survey.

 

Immovable Type

Value

Real estates

1.198.486 - Eur

 

NB.: For Capital Companies the value of the Immovables is the one reported in the latest available financial documents.

 

Financial and Economical Analysis

 

Company's starting of activities dates back to 1979.

Balance sheets for the years 2007, 2008 and 2009 were analyzed.

During the last years, it achieved profits (r.o.e. 0,5% on 2009) but without a significant increase in the turnover.

The operating result in 2009 was positive (2,43%) and in line with the sector's average.

The amount of the operating result for the year 2009 is of Eur. 399.306 with a -38,85% fall as against the year 2008.

During the latest financial year the gross operating margin amounted to Eur. 576.136 with a -27,11% fall.

The financial status of the company is fairly balanced with an indebtedness level of 2,81 and decreasing as against 2008.

Subject can manage an equity capital funds for an amount of Eur. 3.089.122 , unchanged if compared to 2008.

In the year 2009 total debts amounted to Eur. 12.512.598 , with a fall of -24,97%.

Bank borrowings' volume is slightly high but it modestly dips into suppliers credit, 44,08 gg. is the payments' average time which is also lower than the sector average.

The management determines a good range of liquidity.

Due from customers average term is high and equal to 119,39 days. also in relation to the average of the sector.

The financial management generated a cash flow of Eur. 191.947.

Subordinate employment cost is of Eur. 968.137, i.e. 4,18% on total production costs. , with a 4,12% incidence on turnover.

The financial management has a limited economic impact, equal to -0,94% on the sales.

 

 

Financial Data

 

 

 

Complete balance-sheet for the year

31/12/2009

(in Eur

x 1 )

 

Item Type

Value

Sales

23.495.974

Profit (Loss) for the period

15.578

 

 

 

Complete balance-sheet for the year

31/12/2008

(in Eur

x 1 )

 

Item Type

Value

Sales

24.633.644

Profit (Loss) for the period

15.275

 

 

 

Complete balance-sheet for the year

31/12/2007

(in Eur

x 1 )

 

Item Type

Value

Sales

25.253.368

Profit (Loss) for the period

34.208

 

 

 

Complete balance-sheet for the year

31/12/2006

(in Eur

x 1 )

 

Item Type

Value

Sales

23.631.711

Profit (Loss) for the period

17.130

 

 

 

Complete balance-sheet for the year

31/12/2005

(in Eur

x 1 )

 

Item Type

Value

Sales

19.841.048

Profit (Loss) for the period

100.496

 

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.

2.735

 

 

. . Industrial patent rights

99.605

137.744

120.684

. . Concessions,licenses,trademarks,etc.

 

31.513

 

. . Goodwill

 

 

 

. . Assets in formation and advance paymen.

 

 

 

. . Other intangible fixed assets

32.398

15.790

63.367

. Total Intangible Fixed Assets

134.738

185.047

184.051

. TANGIBLE FIXED ASSETS

 

 

 

. . Real estate

1.166.535

1.198.486

699.442

. . Plant and machinery

36.697

46.962

46.175

. . Industrial and commercial equipment

 

 

 

. . Other assets

116.374

125.861

132.572

. . Assets under construction and advances

71.555

 

 

. Total Tangible fixed assets

1.391.161

1.371.309

878.189

. FINANCIAL FIXED ASSETS

 

 

 

. . Equity investments

7.691

7.231

7.716

. . . Equity invest. in subsidiary companies

 

 

 

. . . Equity invest. in associated companies

5.165

5.165

5.165

. . . Equity invest. in holding companies

 

 

 

. . . Equity invest. in other companies

2.526

2.066

2.551

. . Financial receivables

20.036

 

56

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

20.036

 

56

. . . 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

20.036

 

56

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

20.036

 

56

. . Other securities

 

 

 

. . Own shares

384.000

384.000

384.000

. . . Total nominal value

 

 

 

. Total financial fixed assets

411.727

391.231

391.772

Total fixed assets

1.937.626

1.947.587

1.454.012

CURRENT ASSETS

 

 

 

. INVENTORIES

 

 

 

. . Raw materials and other consumables

 

 

 

. . Work in progress and semimanufactured

215

175

343

. . Work in progress on order

 

 

 

. . Finished goods

4.965.403

8.643.164

6.905.961

. . Advance payments

 

 

 

. Total Inventories

4.965.618

8.643.339

6.906.304

. CREDITS NOT HELD AS FIXED ASSETS

 

 

 

. . Within 12 months

8.732.315

9.633.808

9.802.284

. . Beyond 12 months

4.473

5.447

7.186

. . Trade receivables

7.792.233

7.932.824

8.303.896

. . . . Within 12 months

7.792.233

7.932.824

8.303.896

. . . . Beyond 12 months

 

 

 

. . Receivables due from subsid. comp.

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Receivables due from assoc. comp.

58.556

5.435

9.922

. . . . Within 12 months

58.556

5.435

9.922

. . . . Beyond 12 months

 

 

 

. . Receivables due from holding comp.

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Fiscal Receivables

194.147

770.074

711.317

. . . . Within 12 months

194.147

770.074

711.317

. . . . Beyond 12 months

 

 

 

. . Receivables for anticipated taxes

4.473

5.447

7.186

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

4.473

5.447

7.186

. . Receivables due from third parties

687.379

925.475

777.149

. . . . Within 12 months

687.379

925.475

777.149

. . . . Beyond 12 months

 

 

 

. Total Credits not held as fixed assets

8.736.788

9.639.255

9.809.470

. 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

765.025

494.757

692.758

. . Checks

 

13.924

 

. . Banknotes and coins

4.237

5.052

2.041

. Total Liquid funds

769.262

513.733

694.799

Total current assets

14.471.668

18.796.327

17.410.573

ADJUSTMENT ACCOUNTS

 

 

 

. Discount on loans

 

 

 

. Other adjustment accounts

30.132

50.343

40.938

Total adjustments accounts

30.132

50.343

40.938

TOTAL ASSETS

16.439.426

20.794.257

18.905.523

 

 

 

 

LIABILITIES

 

 

 

STOCKHOLDERS' EQUITY

 

 

 

. Capital stock

2.000.000

2.000.000

2.000.000

. Additional paid-in capital

 

 

 

. Revaluation reserves

 

 

 

. Legal reserve

198.216

197.452

195.741

. Reserve for Own shares

384.000

384.000

384.000

. Statute reserves

 

 

 

. Other reserves

3.836

3.834

3.834

. Accumulated Profits (Losses)

487.492

472.980

440.482

. Profit( loss) of the year

15.578

15.275

34.208

. Advances on dividends

 

 

 

. Partial loss of the year Coverage

 

 

 

Total Stockholders'Equity

3.089.122

3.073.541

3.058.265

RESERVES FOR RISKS AND CHARGES

 

 

 

. . Reserve for employee termination indem.

232.821

213.776

192.336

. . Taxation fund, also differed

731

747

1.244

. . Other funds

15.556

253.034

44.996

Total Reserves for Risks and Charges

249.108

467.557

238.576

Employee termination indemnities

541.506

484.928

461.300

ACCOUNTS PAYABLE

 

 

 

. . . . Within 12 months

9.451.943

13.600.293

11.354.130

. . . . Beyond 12 months

3.060.655

3.076.790

3.678.082

. . 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

9.949.984

13.072.542

11.660.736

. . . . Within 12 months

6.889.329

10.000.716

7.994.479

. . . . Beyond 12 months

3.060.655

3.071.826

3.666.257

. . Due to other providers of finance

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Advances from customers

158

1.682

2.061

. . . . Within 12 months

158

1.682

2.061

. . . . Beyond 12 months

 

 

 

. . Trade payables

2.225.857

3.275.910

3.096.887

. . . . Within 12 months

2.225.857

3.275.910

3.096.887

. . . . 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

208.267

213.715

170.336

. . . . Within 12 months

208.267

208.751

158.511

. . . . Beyond 12 months

 

4.964

11.825

. . Due to social security and welfare inst.

65.436

63.808

60.808

. . . . Within 12 months

65.436

63.808

60.808

. . . . Beyond 12 months

 

 

 

. . Other payables

62.896

49.426

41.384

. . . . Within 12 months

62.896

49.426

41.384

. . . . Beyond 12 months

 

 

 

Total accounts payable

12.512.598

16.677.083

15.032.212

ADJUSTMENT ACCOUNTS

 

 

 

. Agio on loans

 

 

 

. Other adjustment accounts

47.092

91.148

115.170

Total adjustment accounts

47.092

91.148

115.170

TOTAL LIABILITIES

16.439.426

20.794.257

18.905.523

 

 

 

 

 

 

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

23.495.974

24.633.644

25.253.368

. Changes in work in progress

 

 

 

. Changes in semi-manufact. products

 

 

 

. Capitalization of internal work

 

 

 

. Other income and revenues

50.405

42.280

76.788

. . Contributions for operating expenses

82

82

82

. . Different income and revenues

50.323

42.198

76.706

Total value of production

23.546.379

24.675.924

25.330.156

PRODUCTION COSTS

 

 

 

. Raw material,other materials and consum.

15.285.038

21.215.299

20.850.002

. Services received

2.869.482

3.115.527

3.207.103

. Leases and rentals

23.639

26.123

26.011

. Payroll and related costs

968.137

1.023.792

926.977

. . Wages and salaries

664.519

708.705

641.244

. . Social security contributions

245.853

255.727

227.664

. . Employee termination indemnities

57.765

59.360

58.069

. . Pension and similar

 

 

 

. . Other costs

 

 

 

. Amortization and depreciation

176.369

136.972

154.104

. . Amortization of intangible fixed assets

63.529

64.392

50.685

. . Amortization of tangible fixed assets

88.302

72.580

64.298

. . Depreciation of tangible fixed assets

 

 

 

. . Writedown of current receiv.and of liquid

24.538

 

39.121

. Changes in raw materials

3.677.761

-1.643.449

-511.508

. Provisions to risk reserves

 

 

 

. Other provisions

46.198

49.473

49.204

. Other operating costs

100.449

99.127

94.012

Total production costs

23.147.073

24.022.864

24.795.905

Diff. between value and cost of product.

399.306

653.060

534.251

FINANCIAL INCOME AND EXPENSE

 

 

 

. Income from equity investments

 

 

 

. . In subsidiary companies

 

 

 

. . In associated companies

 

 

 

. . In other companies

 

 

 

. Other financial income

225.799

443.584

241.492

. . 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

225.799

443.584

241.492

. . . - Subsidiary companies

 

 

 

. . . - Associated companies

 

 

 

. . . - Holding companies

 

 

 

. . . - Other companies

 

 

 

. Interest and other financial expense

-445.575

-1.029.333

-706.940

. . Towards subsidiary companies

 

 

 

. . Towards associated companies

 

 

 

. . Towards holding companies

 

 

 

. . Towards other companies

-9.623

-16.160

 

Total financial income and expense

-219.776

-585.749

-465.448

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

14.377

104.326

34.139

. . Gains on disposals

 

 

 

. . Other extraordinary income

14.377

104.326

34.139

. Extraordinary expense

-45.391

-2.565

-5.575

. . Losses on disposals

 

 

 

. . Taxes relating to prior years

 

 

 

. . Other extraordinary expense

-45.391

-2.565

-5.575

Total extraordinary income and expense

-31.014

101.761

28.564

Results before income taxes

148.516

169.072

97.367

. Taxes on current income

132.938

153.797

63.159

. . current taxes

131.980

 

106.805

. . differed taxes(anticip.)

958

 

-43.646

. Net income for the period

15.578

15.275

34.208

. Adjustments in tax regulations pursuance

 

 

 

. Provisions in tax regulations pursuance

 

 

 

. Profit (loss) of the year

15.578

15.275

34.208

 

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

0,12

0,09

0,07

0,11

Elasticity Ratio

Units

0,88

0,90

0,92

0,86

Availability of stock

Units

0,30

0,42

0,36

0,14

Total Liquidity Ratio

Units

0,58

0,49

0,55

0,65

Quick Ratio

Units

0,05

0,02

0,03

0,04

COMPOSITION ON SOURCE

 

 

 

 

 

Net Short-term indebtedness

Units

2,81

4,26

3,48

5,59

Self Financing Ratio

Units

0,19

0,15

0,16

0,12

Capital protection Ratio

Units

0,35

0,34

0,33

0,59

Liabilities consolidation quotient

Units

0,38

0,26

0,36

0,10

Financing

Units

4,05

5,43

4,91

6,70

Permanent Indebtedness Ratio

Units

0,41

0,32

0,38

0,24

M/L term Debts Ratio

Units

0,22

0,17

0,21

0,06

Net Financial Indebtedness Ratio

Units

2,97

4,09

3,58

1,04

CORRELATION

 

 

 

 

 

Fixed assets ratio

Units

3,45

3,41

4,95

1,75

Current ratio

Units

1,53

1,38

1,53

1,10

Acid Test Ratio-Liquidity Ratio

Units

1,01

0,75

0,92

0,90

Structure's primary quotient

Units

1,59

1,58

2,10

1,00

Treasury's primary quotient

Units

0,08

0,04

0,06

0,06

Rate of indebtedness ( Leverage )

%

532,17

676,56

618,17

810,15

Current Capital ( net )

Value

5.019.725

5.196.034

6.056.443

90.043

RETURN

 

 

 

 

 

Return on Sales

%

0,82

0,62

0,74

1,53

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

%

0,50

0,50

1,11

7,23

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

%

4,81

5,50

3,18

23,81

Return on Investment ( R.O.I. )

%

2,43

3,14

2,82

4,22

Return/ Sales

%

1,70

2,65

2,11

2,07

Extra Management revenues/charges incid.

%

3,90

2,34

6,40

24,23

Cash Flow

Value

191.947

152.247

188.312

44.651

Operating Profit

Value

399.306

653.060

534.251

59.651

Gross Operating Margin

Value

576.136

790.526

688.847

94.866

MANAGEMENT

 

 

 

 

 

Credits to clients average term

Days

119,39

115,93

118,51

89,20

Debts to suppliers average term

Days

44,08

48,42

46,26

100,82

Average stock waiting period

Days

76,08

126,32

98,42

25,59

Rate of capital employed return ( Turnover )

Units

1,43

1,18

1,33

2,02

Rate of stock return

Units

4,73

2,85

3,65

13,97

Labour cost incidence

%

4,12

4,16

3,67

5,64

Net financial revenues/ charges incidence

%

- 0,94

- 2,38

- 1,84

- 0,61

Labour cost on purchasing expenses

%

4,18

4,26

3,73

5,62

Short-term financing charges

%

3,56

6,17

4,70

1,97

Capital on hand

%

69,97

84,41

74,86

49,39

Sales pro employee

Value

1.807.382

1.642.242

1.683.557

545.635

Labour cost pro employee

Value

74.472

68.252

61.798

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:

 

170.000Eur.

 

 

Market / Territory Data

 

Population living in the province

:

238.092

Population living in the region

:

1.204.718

Number of families in the region

:

516.349

 

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

 

- per food products

:

377

- per non food products

:

1.727

- per energy consume

:

114

 

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 moderately risky.

In the region 3.901 protested subjects are found; in the province they count to 919.

The insolvency index for the region is 0,33, , while for the province it is 0,38.

Total Bankrupt companies in the province : 1.169.

Total Bankrupt companies in the region : 5.085.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.37

UK Pound

1

Rs.73.25

Euro

1

Rs.62.68

 

 

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

 

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.