MIRA INFORM REPORT

 

 

Report Date :

19.01.2011

 

IDENTIFICATION DETAILS

 

Name :

TECHNOGEL ITALIA S.R.L.

 

 

Registered Office :

 

Via Bassanese Inferiore,32

36050- Pozzoleone (VI)

 

 

Country :

Italy

 

 

Financials (as on) :

31.12.2009

 

 

Date of Incorporation :

29.03.2001

 

 

Com. Reg. No.:

VI-2001-16210

 

 

Legal Form :

Sole-Member Limited Liability Company

 

 

Line of Business :

Manufacture of other plastic products

 

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 :

250.000 - 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

 

Name and address

 

Technogel Italia s.r.l.

 

Via Bassanese Inferiore,32

36050- Pozzoleone (VI)-IT-

 

 

Summary

 

Fiscal Code

:

02902040241

Legal Form

:

Sole-Member Limited Liability Company

start of Activities

:

29/03/2001

Equity

:

Over 2.582.254 Eur

Turnover Range

:

9.000.000/10.000.000 Eur

Number of Employees

:

from 71 to 90

 

 

Credit Analysis

 

Credit Opinion

:

250.000 - Eur

 

 

Activity

 

Manufacture of other plastic products n.e.c.

Manufacture of parts and accessories for motor vehicles

 

Legal Data

 

Legal Form : Sole-Member Limited Liability Company

Fiscal Code : 02902040241

 

Chamber of Commerce no. : 283947 of Vicenza since 30/03/2001

 

Firms' Register : VI-2001-16210

 

V.A.T. Code : 02902040241

 

Establishment date

: 06/02/2001

Start of Activities

: 29/03/2001

Legal duration

: 31/12/2050

Nominal Capital

: 100.000

Eur

Subscribed Capital

: 100.000

Eur

Paid up Capital

: 100.000

Eur

 

Members

 

 

Losio

Massimo

 

 

 

Born in Schio

(VI)

on 09/01/1960

- Fiscal Code : LSOMSM60A09I531A

 

 

 

Residence :

Via

Forestuzzo

, 2

- 31011

Asolo

(TV)

- IT -

 

Position

Since

Shares Amount

% Ownership

Managing Director

14/05/2009

 

 

Director

14/05/2009

 

 

Board Chairman

14/05/2009

 

 

 

No Protests registered.

 

 

Manfrin

Manfredi

 

 

 

Born in Pordenone

(PN)

on 28/08/1957

- Fiscal Code : MNFMFR57M28G888P

 

 

 

Residence :

Via

G.b. Tiepolo

, 76

- 35100

Padova

(PD)

- IT -

 

Position

Since

Shares Amount

% Ownership

Attorney with special power

26/07/2001

 

 

 

No Protests registered.

 

 

Henze

Juergen

 

 

 

Born in Wunstorf

on 08/02/1958

- Fiscal Code : HNZJGN58B08Z112F

 

 

 

Residence :

Am Felsenkekker

, 16

Duderstadt 37115

- DE -

 

Position

Since

Shares Amount

% Ownership

Director

14/05/2009

 

 

 

No Protests registered.

 

 

Technogel Gmbh

 

 

 

 

Position

Since

Shares Amount

% Ownership

Sole partner

 

 

 

 

No Protests registered.

 

 

Battistello

Pietro

 

 

 

Born in Padova

(PD)

on 20/07/1955

- Fiscal Code : BTTPTR55L20G224W

 

 

 

Residence :

Via

Zabarella

, 2267

- 45025

Fratta Polesine

(RO)

- IT -

 

Position

Since

Shares Amount

% Ownership

Procurator

19/03/2010

 

 

 

No Protests registered.

 

Companies connected to members *

 

*checkings have been performed on a national scale.

 

In this module are listed the companies in which members hold or have holded positions.

 

 

LOSIO

MASSIMO

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

BROOKS ENGLAND LIMITED

Pozzoleone (VI) - IT -

03240250245

Director

Withdrawn

Registered

ROYAL MEDICA S.P.A.

Bassano del Grappa (VI) - IT -

02340070289

Managing Director

Withdrawn

Registered

ROYAL MEDICA S.P.A.

Bassano del Grappa (VI) - IT -

02340070289

Director

Withdrawn

Registered

ROYAL MEDICA S.P.A.

Bassano del Grappa (VI) - IT -

02340070289

Sole Director

Active

Registered

ROYAL MEDICA S.P.A.

Bassano del Grappa (VI) - IT -

02340070289

Board Chairman

Withdrawn

Registered

SELLE ROYAL S.P.A.

Pozzoleone (VI) - IT -

00231010281

Managing Director

Active

Registered

SELLE ROYAL S.P.A.

Pozzoleone (VI) - IT -

00231010281

Director

Active

Registered

 

 

MANFRIN

MANFREDI

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

BIOSILAB S.R.L.

Rovereto (TN) - IT -

01862740220

Sole Director

Active

Registered

EMME - A S.R.L. IN LIQUIDAZIONE

Padova (PD) - IT -

02131630275

Liquidator

Active

Registered

EMME - A S.R.L. IN LIQUIDAZIONE

Padova (PD) - IT -

02131630275

Managing Director

Withdrawn

Registered

NARVALUS - S.R.L.

Colleretto Giacosa (TO) - IT -

09161540019

Director

Withdrawn

Registered

ROYAL MEDICA S.P.A.

Bassano del Grappa (VI) - IT -

02340070289

Attorney with special power

Active

Registered

 

Capital Shareholders

 

Shareholders' list as at date of data collection:

 

Firm's Style / Name

Seat / Residence

Fiscal Code

Owned Shares

% Ownership

Technogel Gmbh

 

 

 

100,00

 

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

Bassanese Inferiore

, 32

- 36050

- Pozzoleone

(VI)

- IT -

 

 

 

 

PHONE

: 0444/463811

 

 

 

 

PHONE

: 0444/462840

 

 

 

 

FAX

: 0444/462837

 

 

 

 

Employees

: 74

 

Fittings and Equipment for a value of 1.870.000

Eur

 

Stocks for a value of 620.000

Eur

 

 

Historical Information and/or Firm's Status

 

CEASINGS/INCORPORATIONS/MERGES:

 

 

The firm took over the activity of

 

 

 

Royal Medica S.p.a.

 

 

 

Vicolo

Menarola

, 15

, 36061

, Bassano del Grappa

(VI)

- IT -

 

 

 

Fiscal Code: 02340070289

 

 

 

Date

:

30/09/2001



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.

 

None reported in the name of the Firm.

 

Financial and Economical Analysis

 

Subject is active since 2001

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

Unstable economic results mark the company's financial state of affairs. ; in the last financial year a loss was registered (r.o.e. -11,4%) In the last financial year a drop in sales has been registered (-28,48%).

A loss is registered as to the operating result (-8,78%).

The operating loss is equal to Eur. -607.726.

The gross operating margin of the latest financial year is of Eur. 487.685 recording a -69,18% decrease.

Very good financial situation: shareholder's equity covers short-terms debts with an indebtedness level equal to 0,64 improved in comparison with the year before (0,69.).

The equity capital is equal to Eur. 3.790.389 , unchanged as opposed to the preceding year.

Eur. 2.713.383 is the amount of total debts, both commercial and of different nature, , decreasing if compared to 2008 (-25,2%).

The company does not exceed in bank credits; payments average period is instead slightly high (108,68 gg.) even if it is lower than the sector's average.

It shows a good range of liquidity.

Trade credits average terms are slow, on average 93,88 days. anyway lower as opposed to the average of the sector.

The financial management generated a cash flow of Eur. 663.168.

In the last financial year labour cost was of Eur. 2.542.940, with a 25,25% incidence on total costs of production. , whereas the incidence on sales revenues is of 26,92%.

The financial management is positive as incomes are higher than the charges.



Financial Data

 

 

 

Complete balance-sheet for the year

31/12/2009

(in Eur

x 1 )

 

Item Type

Value

Sales

9.447.077

Profit (Loss) for the period

-432.243

 

 

 

Complete balance-sheet for the year

31/12/2008

(in Eur

x 1 )

 

Item Type

Value

Sales

13.210.682

Profit (Loss) for the period

143.532

 

 

 

Complete balance-sheet for the year

31/12/2007

(in Eur

x 1 )

 

Item Type

Value

Sales

12.546.674

Profit (Loss) for the period

-176.531

 

 

 

Complete balance-sheet for the year

31/12/2006

(in Eur

x 1 )

 

Item Type

Value

Sales

9.896.872

Profit (Loss) for the period

-244.489

 

 

 

Complete balance-sheet for the year

31/12/2005

(in Eur

x 1 )

 

Item Type

Value

Sales

9.271.792

Profit (Loss) for the period

211.342

 

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

 

428

1.829

. . Research,develop. and advert.expens.

8.083

15.183

31.606

. . Industrial patent rights

208.083

176.509

142.697

. . Concessions,licenses,trademarks,etc.

4.989

5.346

9.911

. . Goodwill

371.278

556.917

742.557

. . Assets in formation and advance paymen.

 

 

 

. . Other intangible fixed assets

77.951

118.325

139.154

. Total Intangible Fixed Assets

670.384

872.708

1.067.754

. TANGIBLE FIXED ASSETS

 

 

 

. . Real estate

 

 

 

. . Plant and machinery

1.320.283

1.614.789

1.589.361

. . Industrial and commercial equipment

552.735

605.509

574.214

. . Other assets

197.409

305.367

367.971

. . Assets under construction and advances

2.500

2.500

2.500

. Total Tangible fixed assets

2.072.927

2.528.165

2.534.046

. FINANCIAL FIXED ASSETS

 

 

 

. . Equity investments

500

500

500

. . . Equity invest. in subsidiary companies

 

 

 

. . . Equity invest. in associated companies

 

 

 

. . . Equity invest. in holding companies

 

 

 

. . . Equity invest. in other companies

500

500

500

. . 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

500

500

500

Total fixed assets

2.743.811

3.401.373

3.602.300

CURRENT ASSETS

 

 

 

. INVENTORIES

 

 

 

. . Raw materials and other consumables

498.916

583.354

610.021

. . Work in progress and semimanufactured

15.410

69.189

114.568

. . Work in progress on order

 

 

 

. . Finished goods

109.669

189.951

295.119

. . Advance payments

 

 

 

. Total Inventories

623.995

842.494

1.019.708

. CREDITS NOT HELD AS FIXED ASSETS

 

 

 

. . Within 12 months

2.779.268

3.371.415

4.171.742

. . Beyond 12 months

134.358

 

973

. . Trade receivables

2.463.640

2.680.482

3.466.490

. . . . Within 12 months

2.463.640

2.680.482

3.466.490

. . . . 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

130.487

508.838

482.181

. . . . Within 12 months

130.487

508.838

482.181

. . . . Beyond 12 months

 

 

 

. . Receivables for anticipated taxes

134.832

2.085

74.044

. . . . Within 12 months

474

2.085

73.071

. . . . Beyond 12 months

134.358

 

973

. . Receivables due from third parties

184.667

180.010

150.000

. . . . Within 12 months

184.667

180.010

150.000

. . . . Beyond 12 months

 

 

 

. Total Credits not held as fixed assets

2.913.626

3.371.415

4.172.715

. 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

301.296

515.887

-55.407

. . Checks

 

 

 

. . Banknotes and coins

3.324

1.581

1.907

. Total Liquid funds

304.620

517.468

-53.500

Total current assets

3.842.241

4.731.377

5.138.923

ADJUSTMENT ACCOUNTS

 

 

 

. Discount on loans

 

 

 

. Other adjustment accounts

335.581

339.514

278.062

Total adjustments accounts

335.581

339.514

278.062

TOTAL ASSETS

6.921.633

8.472.264

9.019.285

 

 

 

 

LIABILITIES

 

 

 

STOCKHOLDERS' EQUITY

 

 

 

. Capital stock

100.000

100.000

100.000

. Additional paid-in capital

3.806.184

3.806.184

3.806.184

. Revaluation reserves

 

 

 

. Legal reserve

20.000

15.972

15.972

. Reserve for Own shares

 

 

 

. Statute reserves

 

 

 

. Other reserves

296.448

156.945

333.477

. Accumulated Profits (Losses)

 

 

 

. Profit( loss) of the year

-432.243

143.532

-176.531

. Advances on dividends

 

 

 

. Partial loss of the year Coverage

 

 

 

Total Stockholders'Equity

3.790.389

4.222.633

4.079.102

RESERVES FOR RISKS AND CHARGES

 

 

 

. . Reserve for employee termination indem.

210.000

180.000

150.000

. . Taxation fund, also differed

22.697

 

30.000

. . Other funds

 

 

 

Total Reserves for Risks and Charges

232.697

180.000

180.000

Employee termination indemnities

183.331

426.939

208.504

ACCOUNTS PAYABLE

 

 

 

. . . . Within 12 months

2.713.383

3.444.374

4.130.274

. . . . Beyond 12 months

 

183.246

408.860

. . 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

198.651

688.833

606.284

. . . . Within 12 months

198.651

505.587

197.424

. . . . Beyond 12 months

 

183.246

408.860

. . Due to other providers of finance

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Advances from customers

29.223

2.821

7.876

. . . . Within 12 months

29.223

2.821

7.876

. . . . Beyond 12 months

 

 

 

. . Trade payables

1.885.662

2.313.025

3.208.133

. . . . Within 12 months

1.885.662

2.313.025

3.208.133

. . . . 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

14.470

19.087

18.555

. . . . Within 12 months

14.470

19.087

18.555

. . . . Beyond 12 months

 

 

 

. . Due to the tax authorities

145.247

347.473

184.641

. . . . Within 12 months

145.247

347.473

184.641

. . . . Beyond 12 months

 

 

 

. . Due to social security and welfare inst.

147.287

115.473

133.549

. . . . Within 12 months

147.287

115.473

133.549

. . . . Beyond 12 months

 

 

 

. . Other payables

292.843

140.908

380.096

. . . . Within 12 months

292.843

140.908

380.096

. . . . Beyond 12 months

 

 

 

Total accounts payable

2.713.383

3.627.620

4.539.134

ADJUSTMENT ACCOUNTS

 

 

 

. Agio on loans

 

 

 

. Other adjustment accounts

1.833

15.072

12.545

Total adjustment accounts

1.833

15.072

12.545

TOTAL LIABILITIES

6.921.633

8.472.264

9.019.285

 

 

 

 

 

 

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

9.447.077

13.210.682

12.546.674

. Changes in work in progress

-134.062

-150.546

177.842

. Changes in semi-manufact. products

 

 

 

. Capitalization of internal work

 

 

 

. Other income and revenues

148.466

304.309

96.860

. . Contributions for operating expenses

 

 

 

. . Different income and revenues

148.466

304.309

96.860

Total value of production

9.461.481

13.364.445

12.821.376

PRODUCTION COSTS

 

 

 

. Raw material,other materials and consum.

3.598.775

5.494.922

5.042.836

. Services received

2.134.733

2.311.097

2.894.678

. Leases and rentals

560.416

656.889

652.867

. Payroll and related costs

2.542.940

3.251.740

2.997.338

. . Wages and salaries

1.814.882

2.460.730

2.249.751

. . Social security contributions

594.314

657.288

628.649

. . Employee termination indemnities

133.744

133.722

118.938

. . Pension and similar

 

 

 

. . Other costs

 

 

 

. Amortization and depreciation

1.095.411

1.117.513

1.030.029

. . Amortization of intangible fixed assets

264.470

267.468

262.543

. . Amortization of tangible fixed assets

824.151

850.045

762.993

. . Depreciation of tangible fixed assets

 

 

 

. . Writedown of current receiv.and of liquid

6.790

 

4.493

. Changes in raw materials

84.438

26.666

-4.309

. Provisions to risk reserves

 

 

 

. Other provisions

 

 

 

. Other operating costs

52.494

40.521

40.919

Total production costs

10.069.207

12.899.348

12.654.358

Diff. between value and cost of product.

-607.726

465.097

167.018

FINANCIAL INCOME AND EXPENSE

 

 

 

. Income from equity investments

 

 

 

. . In subsidiary companies

 

 

 

. . In associated companies

 

 

 

. . In other companies

 

 

 

. Other financial income

2.186

10.674

9.789

. . 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

 

10.674

 

. . Financ.income other than the above

2.186

 

9.789

. . . - Subsidiary companies

 

 

 

. . . - Associated companies

 

 

 

. . . - Holding companies

 

 

 

. . . - Other companies

 

 

 

. Interest and other financial expense

37.417

-21.554

3.274

. . Towards subsidiary companies

 

 

 

. . Towards associated companies

 

 

 

. . Towards holding companies

 

 

 

. . Towards other companies

54.063

22.088

 

Total financial income and expense

39.603

-10.880

13.063

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

98.675

53.370

82.379

. . Gains on disposals

 

6.252

7.000

. . Other extraordinary income

98.675

47.118

75.379

. Extraordinary expense

-39.015

-25.938

-59.200

. . Losses on disposals

 

 

 

. . Taxes relating to prior years

 

 

-30.000

. . Other extraordinary expense

-39.015

-25.938

-29.200

Total extraordinary income and expense

59.660

27.432

23.179

Results before income taxes

-508.463

481.649

203.260

. Taxes on current income

-76.220

338.117

379.791

. . current taxes

57.638

263.739

389.735

. . differed taxes(anticip.)

-133.858

74.378

-9.944

. Net income for the period

-432.243

143.532

-176.531

. Adjustments in tax regulations pursuance

 

 

 

. Provisions in tax regulations pursuance

 

 

 

. Profit (loss) of the year

-432.243

143.532

-176.531

 

 

 

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

0,40

0,40

0,39

0,25

Elasticity Ratio

Units

0,56

0,56

0,56

0,72

Availability of stock

Units

0,09

0,10

0,11

0,15

Total Liquidity Ratio

Units

0,46

0,46

0,45

0,52

Quick Ratio

Units

0,04

0,06

n.c.

0,02

COMPOSITION ON SOURCE

 

 

 

 

 

Net Short-term indebtedness

Units

0,64

0,69

1,02

3,02

Self Financing Ratio

Units

0,55

0,50

0,45

0,19

Capital protection Ratio

Units

1,09

0,94

1,01

0,68

Liabilities consolidation quotient

Units

0,07

0,18

0,14

0,21

Financing

Units

0,72

0,86

1,11

3,78

Permanent Indebtedness Ratio

Units

0,57

0,57

0,52

0,37

M/L term Debts Ratio

Units

0,03

0,07

0,06

0,12

Net Financial Indebtedness Ratio

Units

0,00

0,04

0,16

1,11

CORRELATION

 

 

 

 

 

Fixed assets ratio

Units

1,45

1,42

1,30

1,33

Current ratio

Units

1,42

1,37

1,24

1,14

Acid Test Ratio-Liquidity Ratio

Units

1,19

1,13

0,99

0,85

Structure's primary quotient

Units

1,38

1,24

1,13

0,76

Treasury's primary quotient

Units

0,11

0,15

n.c.

0,03

Rate of indebtedness ( Leverage )

%

182,61

200,64

221,10

521,31

Current Capital ( net )

Value

1.128.858

1.287.003

1.008.649

206.688

RETURN

 

 

 

 

 

Return on Sales

%

7,02

9,55

6,80

4,06

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

%

- 11,40

3,40

- 4,32

5,33

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

%

- 13,41

11,41

4,98

17,84

Return on Investment ( R.O.I. )

%

- 8,78

5,49

1,85

4,91

Return/ Sales

%

- 6,43

3,52

1,33

4,22

Extra Management revenues/charges incid.

%

n.c.

30,86

- 105,69

22,33

Cash Flow

Value

663.168

1.261.045

853.498

138.980

Operating Profit

Value

-607.726

465.097

167.018

144.790

Gross Operating Margin

Value

487.685

1.582.610

1.197.047

263.533

MANAGEMENT

 

 

 

 

 

Credits to clients average term

Days

93,88

73,04

99,43

129,34

Debts to suppliers average term

Days

108,68

99,20

135,21

150,62

Average stock waiting period

Days

23,78

22,96

29,23

47,66

Rate of capital employed return ( Turnover )

Units

1,36

1,56

1,39

1,19

Rate of stock return

Units

15,14

15,68

12,30

7,54

Labour cost incidence

%

26,92

24,61

23,88

16,12

Net financial revenues/ charges incidence

%

0,42

- 0,08

0,10

- 1,41

Labour cost on purchasing expenses

%

25,25

25,21

23,68

16,44

Short-term financing charges

%

n.c.

0,59

n.c.

2,67

Capital on hand

%

73,27

64,13

71,88

83,53

Sales pro employee

Value

131.209

145.172

151.164

212.600

Labour cost pro employee

Value

35.318

35.733

36.112

32.761

 

 

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:

 

250.000  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 2.727 significant companies.

 

The companies cash their credits on an average of 129 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 16,12%.

Goods are held in stock in a range of 47 dd.

The difference between the sales volume and the resources used to realize it is about 1,19.

The employees costs represent the 16,44% 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.45.53

UK Pound

1

Rs.72.56

Euro

1

Rs.60.62

 

 

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.