MIRA INFORM REPORT

 

 

Report Date :

03.01.2011

 

IDENTIFICATION DETAILS

 

Name :

CONCERIA CADORE S.R.L. 

 

 

Registered Office :

Via Lavoro, 23,

36071- Arzignano(VI)  

 

 

Country :

Italy

 

 

Financials (as on) :

31.12.2009

 

 

Date of Incorporation :

17.11.1978

 

 

Com. Reg. No.:

VI116-9388 since 19/02/1996

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Preparation and tanning of leather; manufacture of luggage, handbags, leather goods and saddlery; dressing and dyeing of fur

 

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 :

250.000Eur

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 – 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 

 

Conceria Cadore S.r.l.

 

Via Lavoro, 23

 

36071 - Arzignano (VI) -IT-

 

 

Summary

 

Fiscal Code

:

00656130242

Legal Form

:

Limited liability company

start of Activities

:

17/11/1978

Equity

:

Over 2.582.254 Eur

Turnover Range

:

50.000.000/75.000.000 Eur

Number of Employees

:

from 71 to 90

 

 

Credit Analysis

 

Credit Opinion

:

250.000 - Eur

 

Activity

 

Preparation and tanning of leather; manufacture of luggage, handbags, leather goods and saddlery; dressing and dyeing of fur

 

Legal Data

 

Legal Form : Limited liability company

Register of Handcraft firms : 45524 of Vicenza since 10/12/1979 until 05/10/1981

 

Fiscal Code : 00656130242

 

Foreign Trade Reg. no. : VI023304 since 03/01/1992

 

Foreign Trade Reg. no. : 23304 of Vicenza since 03/01/1992

 

Chamber of Commerce no. : 144942 of Vicenza since 23/01/1979

 

Firms' Register : VI116-9388 since 19/02/1996

 

V.A.T. Code : 00656130242

 

Tribunal Co. Register : 9388 of Vicenza

 

Foundation date

: 17/11/1978

Establishment date

: 17/11/1978

Start of Activities

: 17/11/1978

Legal duration

: 31/12/2050

Nominal Capital

: 4.250.000

Eur

Subscribed Capital

: 4.250.000

Eur

Paid up Capital

: 4.250.000

Eur

 

Members

 

 

Sartori

Silvio

 

 

 

Born in Sarego

(VI)

on 15/06/1945

- Fiscal Code : SRTSLV45H15I430W

 

 

 

Residence :

Via

Luigi Einaudi

, 1

- 36071

Arzignano

(VI)

- IT -

 

Position

Since

Shares Amount

% Ownership

Sole Director

 

 

 

 

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.

 

 

SARTORI

SILVIO

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

INDUSTRIA CONCIARIA VOLTURNO SRL IN SIGLA ICV S.R.L.

Santa Maria Capua Vetere (CE) - IT -

01685850610

Sole Director

Active

Registered

NIKOPEL S.R.L.

Arzignano (VI) - IT -

01709560245

Sole Director

Withdrawn

Registered

VENETA PARTENOPE PELLAMI S.R.L. - IN LIQUIDAZIONE

Arzignano (VI) - IT -

02702320249

Liquidator

Withdrawn

Ceased

 

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

Sartori Silvio Mario

 

SRTSVM45H15I430T

2.125.000 .Eur

50,00

Solda' Bertilla

 

SLDBTL54L46I430N

2.125.000 .Eur

50,00

 

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

Lavoro

, 23

- 36071

- Arzignano

(VI)

- IT -

 

 

 

 

PHONE

: 0444/450655

 

 

 

 

FAX

: 0444/676223

 

 

 

 

Employees

: 82

 

 

 

 

Assistants

: 1

 

Fittings and Equipment for a value of 520.000

Eur

 

Stocks for a value of 23.770.000

Eur

 

Vehicles for a value of 130.000

Eur

 

Sales are on an international scale.

The firm operates abroad as importer / exporter. .

To purchase foreign products the firm uses the following channels :

- distributors

 

- its own agents

 

- direct orders to foreign companies

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

Products abroad are placed by :

- importers

 

- its own agents

 

- direct orders from foreign companies

 

Historical Information and/or Firm's Status

 

CHANGES TO THE LEGAL FORM:

 

Former legal form

New legal form

Changement Date

General partnership

Limited liability company

04/12/1980

 

COMPANY STYLE MODIFICATIONS:

 

Former Style

New Style

Changement Date

Rifinizione Cadore S.r.l.

 

21/12/1996

 

COMPANY'S CAPITAL CHANGES:

 

Former Type

Former Amount

New Type

New Amount

Changement Date

subcribed, nominal and issued

255.646Eur

subcribed, nominal and issued

4.234.946Eur

21/12/1996

 

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.

 

Immovables *

 

*Subject to survey.

 

Immovable Type

Value

Real estates

7.223.308 - Eur

 

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

 

Financial and Economical Analysis

 

The company is active since 1978

The eonomic-financial analysis is based on the latest 3 b/s.

Under an economic point of view, profits were registered during the last years with a r.o.e. of 2,31% in 2009

The operating result was positive in the last financial year (3,94%) falling within the field's average.

The operating result is positive and amounts to Eur. 2.084.802 with a -45,19% fall as against the year 2008.

The economic management produced a gross operating margin of Eur. 2.419.435 showing a downward trend as opposed to the previous year.

Company's financial status is balanced since indebtedness is not high (3,77) and falling as against the previous year (4,51).

Subject can manage an equity capital funds for an amount of Eur. 9.287.553 on the same levels as the year before.

During the last financial year debts totalled Eur. 42.644.473 (Eur. 7.488.173 of which were m/l term debts) , a more or less stable value.

Both financial indebtedness and suppliers exposure are rather high but lined up with the field's average.

It shows a good range of liquidity.

Trade credits are collected slowly, average term is 112,09 days. within the average values of the sector.

The financial management generated a cash flow of Eur. 548.125.

Labour cost amounts to Eur. 3.185.031, with a 6,21% incidence on production costs. , whereas the incidence on sales revenues is of 5,57%.

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

57.225.749

Profit (Loss) for the period

214.390

 

 

 

Complete balance-sheet for the year

31/12/2008

(in Eur

x 1 )

 

Item Type

Value

Sales

68.240.234

Profit (Loss) for the period

80.459

 

 

 

Complete balance-sheet for the year

31/12/2007

(in Eur

x 1 )

 

Item Type

Value

Sales

86.949.088

Profit (Loss) for the period

256.384

 

 

 

Complete balance-sheet for the year

31/12/2006

(in Eur

x 1 )

 

Item Type

Value

Sales

74.872.306

Profit (Loss) for the period

250.368

 

 

 

Complete balance-sheet for the year

31/12/2005

(in Eur

x 1 )

 

Item Type

Value

Sales

49.682.721

Profit (Loss) for the period

-226.739


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.

 

 

 

. . Industrial patent rights

170

509

1.279

. . Concessions,licenses,trademarks,etc.

 

 

 

. . Goodwill

 

 

 

. . Assets in formation and advance paymen.

 

 

 

. . Other intangible fixed assets

49.826

51.076

52.326

. Total Intangible Fixed Assets

49.996

51.585

53.605

. TANGIBLE FIXED ASSETS

 

 

 

. . Real estate

7.117.600

7.223.308

7.248.933

. . Plant and machinery

496.785

628.830

498.199

. . Industrial and commercial equipment

24.063

33.446

9.893

. . Other assets

55.021

75.387

19.878

. . Assets under construction and advances

 

 

 

. Total Tangible fixed assets

7.693.469

7.960.971

7.776.903

. FINANCIAL FIXED ASSETS

 

 

 

. . Equity investments

 

 

 

. . . Equity invest. in subsidiary companies

 

 

 

. . . Equity invest. in associated companies

 

 

 

. . . Equity invest. in holding companies

 

 

 

. . . Equity invest. in other companies

 

 

 

. . Financial receivables

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . . 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

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Other securities

 

 

 

. . Own shares

 

 

 

. . . Total nominal value

 

 

 

. Total financial fixed assets

 

 

 

Total fixed assets

7.743.465

8.012.556

7.830.508

CURRENT ASSETS

 

 

 

. INVENTORIES

 

 

 

. . Raw materials and other consumables

1.721.945

528.319

361.930

. . Work in progress and semimanufactured

15.780.717

19.293.471

16.042.460

. . Work in progress on order

 

 

 

. . Finished goods

6.269.379

8.058.210

9.145.610

. . Advance payments

 

2

 

. Total Inventories

23.772.041

27.880.002

25.550.000

. CREDITS NOT HELD AS FIXED ASSETS

 

 

 

. . Within 12 months

21.154.504

16.792.272

28.985.626

. . Beyond 12 months

 

 

 

. . Trade receivables

17.818.108

15.404.657

24.571.200

. . . . Within 12 months

17.818.108

15.404.657

24.571.200

. . . . 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

2.666.357

718.583

3.586.894

. . . . Within 12 months

2.666.357

718.583

3.586.894

. . . . Beyond 12 months

 

 

 

. . Receivables for anticipated taxes

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Receivables due from third parties

670.039

669.032

827.532

. . . . Within 12 months

670.039

669.032

827.532

. . . . Beyond 12 months

 

 

 

. Total Credits not held as fixed assets

21.154.504

16.792.272

28.985.626

. 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

168.965

122.043

1.603.498

. . Checks

 

 

 

. . Banknotes and coins

2.016

1.251

8.786

. Total Liquid funds

170.981

123.294

1.612.284

Total current assets

45.097.526

44.795.568

56.147.910

ADJUSTMENT ACCOUNTS

 

 

 

. Discount on loans

 

 

 

. Other adjustment accounts

31.896

72.218

41.343

Total adjustments accounts

31.896

72.218

41.343

TOTAL ASSETS

52.872.887

52.880.342

64.019.761

 

 

 

 

LIABILITIES

 

 

 

STOCKHOLDERS' EQUITY

 

 

 

. Capital stock

4.250.000

4.250.000

4.250.000

. Additional paid-in capital

 

 

 

. Revaluation reserves

 

 

 

. Legal reserve

236.426

232.403

219.584

. Reserve for Own shares

 

 

 

. Statute reserves

 

 

 

. Other reserves

4.586.737

3.450.719

3.521.968

. Accumulated Profits (Losses)

 

 

 

. Profit( loss) of the year

214.390

80.459

256.384

. Advances on dividends

 

 

 

. Partial loss of the year Coverage

 

 

 

Total Stockholders'Equity

9.287.553

8.013.581

8.247.936

RESERVES FOR RISKS AND CHARGES

 

 

 

. . Reserve for employee termination indem.

 

 

 

. . Taxation fund, also differed

390.555

390.555

 

. . Other funds

 

 

 

Total Reserves for Risks and Charges

390.555

390.555

 

Employee termination indemnities

468.236

476.089

510.227

ACCOUNTS PAYABLE

 

 

 

. . . . Within 12 months

35.156.300

36.260.958

49.860.130

. . . . Beyond 12 months

7.488.173

7.583.390

5.229.861

. . Bonds

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Convertible bonds repayable

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Due to shareholders for financing

1.000.000

1.000.000

 

. . . . Within 12 months

1.000.000

1.000.000

 

. . . . Beyond 12 months

 

 

 

. . Due to banks

25.896.904

31.256.654

35.572.351

. . . . Within 12 months

18.423.571

23.688.104

30.344.830

. . . . Beyond 12 months

7.473.333

7.568.550

5.227.521

. . Due to other providers of finance

317.853

 

314.458

. . . . Within 12 months

317.853

 

314.458

. . . . Beyond 12 months

 

 

 

. . Advances from customers

4.678

39.683

 

. . . . Within 12 months

4.678

39.683

 

. . . . Beyond 12 months

 

 

 

. . Trade payables

14.695.059

10.682.848

18.214.344

. . . . Within 12 months

14.695.059

10.682.848

18.214.344

. . . . 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

490.762

336.673

786.233

. . . . Within 12 months

490.762

336.673

786.233

. . . . Beyond 12 months

 

 

 

. . Due to social security and welfare inst.

224.377

199.550

200.265

. . . . Within 12 months

224.377

199.550

200.265

. . . . Beyond 12 months

 

 

 

. . Other payables

14.840

328.940

2.340

. . . . Within 12 months

 

314.100

 

. . . . Beyond 12 months

14.840

14.840

2.340

Total accounts payable

42.644.473

43.844.348

55.089.991

ADJUSTMENT ACCOUNTS

 

 

 

. Agio on loans

 

 

 

. Other adjustment accounts

82.070

155.769

171.607

Total adjustment accounts

82.070

155.769

171.607

TOTAL LIABILITIES

52.872.887

52.880.342

64.019.761

 

 

 

 

 

 

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

57.225.749

68.240.234

86.949.088

. Changes in work in progress

-4.107.959

2.330.000

-1.240.000

. Changes in semi-manufact. products

 

 

 

. Capitalization of internal work

 

 

 

. Other income and revenues

228.357

791.596

376.164

. . Contributions for operating expenses

 

 

 

. . Different income and revenues

228.357

791.596

376.164

Total value of production

53.346.147

71.361.830

86.085.252

PRODUCTION COSTS

 

 

 

. Raw material,other materials and consum.

34.189.639

46.124.686

57.143.443

. Services received

13.105.171

17.510.817

21.411.164

. Leases and rentals

129.094

147.725

150.093

. Payroll and related costs

3.185.031

3.312.082

3.288.351

. . Wages and salaries

2.219.924

2.206.746

2.248.229

. . Social security contributions

795.141

794.382

826.039

. . Employee termination indemnities

156.430

160.687

138.009

. . Pension and similar

 

 

 

. . Other costs

13.536

150.267

76.074

. Amortization and depreciation

333.735

298.656

260.169

. . Amortization of intangible fixed assets

11.531

2.021

1.028

. . Amortization of tangible fixed assets

322.204

296.635

259.141

. . Depreciation of tangible fixed assets

 

 

 

. . Writedown of current receiv.and of liquid

 

 

 

. Changes in raw materials

 

 

 

. Provisions to risk reserves

89.843

 

 

. Other provisions

 

 

 

. Other operating costs

228.832

163.822

254.388

Total production costs

51.261.345

67.557.788

82.507.608

Diff. between value and cost of product.

2.084.802

3.804.042

3.577.644

FINANCIAL INCOME AND EXPENSE

 

 

 

. Income from equity investments

 

 

 

. . In subsidiary companies

 

 

 

. . In associated companies

 

 

 

. . In other companies

 

 

 

. Other financial income

23.266

53.455

51.908

. . 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

23.266

53.455

51.908

. . . - Subsidiary companies

 

 

 

. . . - Associated companies

 

 

 

. . . - Holding companies

 

 

 

. . . - Other companies

 

 

 

. Interest and other financial expense

-1.735.554

-3.503.691

-2.691.228

. . Towards subsidiary companies

 

 

 

. . Towards associated companies

 

 

 

. . Towards holding companies

 

 

 

. . Towards other companies

25.068

-781.868

 

Total financial income and expense

-1.712.288

-3.450.236

-2.639.320

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

59.870

26.973

88.940

. . Gains on disposals

 

 

 

. . Other extraordinary income

59.870

26.973

88.940

. Extraordinary expense

-59.312

-60.206

-87.015

. . Losses on disposals

 

 

 

. . Taxes relating to prior years

 

 

 

. . Other extraordinary expense

-59.312

-60.206

-87.015

Total extraordinary income and expense

558

-33.233

1.925

Results before income taxes

373.072

320.573

940.249

. Taxes on current income

158.682

240.114

683.865

. . current taxes

158.682

240.114

683.865

. . differed taxes(anticip.)

 

 

 

. Net income for the period

214.390

80.459

256.384

. Adjustments in tax regulations pursuance

 

 

 

. Provisions in tax regulations pursuance

 

 

 

. Profit (loss) of the year

214.390

80.459

256.384

 

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

0,15

0,15

0,12

0,14

Elasticity Ratio

Units

0,85

0,85

0,87

0,83

Availability of stock

Units

0,45

0,53

0,39

0,21

Total Liquidity Ratio

Units

0,40

0,32

0,47

0,56

Quick Ratio

Units

0,00

0,00

0,02

0,03

COMPOSITION ON SOURCE

 

 

 

 

 

Net Short-term indebtedness

Units

3,77

4,51

5,84

3,31

Self Financing Ratio

Units

0,18

0,15

0,12

0,18

Capital protection Ratio

Units

0,52

0,46

0,45

0,62

Liabilities consolidation quotient

Units

0,23

0,22

0,11

0,17

Financing

Units

4,59

5,47

6,67

3,98

Permanent Indebtedness Ratio

Units

0,33

0,30

0,21

0,34

M/L term Debts Ratio

Units

0,15

0,15

0,08

0,10

Net Financial Indebtedness Ratio

Units

2,91

4,01

4,15

1,45

CORRELATION

 

 

 

 

 

Fixed assets ratio

Units

2,23

2,01

1,78

2,23

Current ratio

Units

1,28

1,24

1,12

1,21

Acid Test Ratio-Liquidity Ratio

Units

0,61

0,47

0,61

0,85

Structure's primary quotient

Units

1,20

1,00

1,05

1,24

Treasury's primary quotient

Units

0,00

0,00

0,03

0,05

Rate of indebtedness ( Leverage )

%

569,29

659,88

776,19

526,53

Current Capital ( net )

Value

9.941.226

8.534.610

6.287.780

326.620

RETURN

 

 

 

 

 

Return on Sales

%

0,96

0,56

0,59

2,36

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

%

2,31

1,00

3,10

5,04

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

%

4,02

4,00

11,39

17,86

Return on Investment ( R.O.I. )

%

3,94

7,19

5,58

4,92

Return/ Sales

%

3,64

5,57

4,11

3,91

Extra Management revenues/charges incid.

%

10,28

2,12

7,16

19,81

Cash Flow

Value

548.125

379.115

516.553

81.195

Operating Profit

Value

2.084.802

3.804.042

3.577.644

131.685

Gross Operating Margin

Value

2.419.435

4.102.698

3.837.813

196.955

MANAGEMENT

 

 

 

 

 

Credits to clients average term

Days

112,09

81,27

101,70

112,01

Debts to suppliers average term

Days

111,55

60,30

83,30

123,48

Average stock waiting period

Days

149,55

147,08

105,76

54,00

Rate of capital employed return ( Turnover )

Units

1,08

1,29

1,35

1,37

Rate of stock return

Units

2,41

2,45

3,40

6,65

Labour cost incidence

%

5,57

4,85

3,78

11,47

Net financial revenues/ charges incidence

%

- 2,99

- 5,06

- 3,03

- 1,49

Labour cost on purchasing expenses

%

6,21

4,90

3,98

11,57

Short-term financing charges

%

4,07

7,99

4,88

3,05

Capital on hand

%

92,39

77,49

73,62

72,91

Sales pro employee

Value

697.874

784.370

945.098

284.275

Labour cost pro employee

Value

38.841

38.069

35.742

32.243

 

 

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:

 

250.000Eur.

 

 

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 expenses 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 923 significant companies.

The companies cash their credits on an average of 112 dd.

The average duration of suppliers debts is about 123 dd.

The sector's profitability is on an average of 2,36%.

The labour cost affects the turnover in the measure of 11,47%.

Goods are held in stock in a range of 54 dd.

The difference between the sales volume and the resources used to realize it is about 1,37.

The employees costs represent the 11,57% 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.44.81

UK Pound

1

Rs.59.81

Euro

1

Rs.69.29

 

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.