MIRA INFORM REPORT

 

 

Report Date :

21.01.2011

 

IDENTIFICATION DETAILS

 

Name :

BLUE BOX GROUP S.R.L.

 

 

Registered Office :

 

Via Dell' Industria,24

35028- Piove di Sacco(PD)

 

 

Country :

Italy

 

 

Financials (as on) :

31.12.2009

 

 

Date of Incorporation :

04.11.1991

 

 

Com. Reg. No.:

PD060-38281 since 19/02/1996

 

 

Legal Form :

Sole-Member Limited Liability Company

 

 

Line of Business :

Manufacture of non-domestic cooling and ventilation equipment

 

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

 

Blue Box Group S.r.l.

 

Via Dell' Industria,24

35028- Piove di Sacco(PD)-IT-

 

 

Summary

 

Fiscal Code

:

02481290282

Legal Form

:

Sole-Member Limited Liability Company

start of Activities

:

04/11/1991

Equity

:

Over 2.582.254 Eur

Turnover Range

:

35.000.000/50.000.000 Eur

Number of Employees

:

from 201 to 250

 

 

Credit Analysis

 

Credit Opinion

:

250.000 - Eur

 

 

Activity

 

Manufacture of non-domestic cooling and ventilation equipment

 

Legal Data

 

Legal Form : Sole-Member Limited Liability Company

Fiscal Code : 02481290282

 

Foreign Trade Reg. no. : PD033892 since 21/09/1994

 

Foreign Trade Reg. no. : 033892 of Padova since 21/09/1994

 

Chamber of Commerce no. : 233202 of Padova since 10/10/1991

 

Chamber of Commerce no. : 304162 of Venezia

 

Firms' Register : PD060-38281 since 19/02/1996

 

V.A.T. Code : 02481290282

 

Establishment date

: 24/07/1991

Start of Activities

: 04/11/1991

Legal duration

: 31/12/2020

Nominal Capital

: 1.500.000

Eur

Subscribed Capital

: 1.500.000

Eur

Paid up Capital

: 1.500.000

Eur

 

Members

 

 

Veggian

Severino

 

 

 

Born in Brugine

(PD)

on 27/06/1948

- Fiscal Code : VGGSRN48H27B213H

 

 

 

Residence :

Via

Vivaldi

, 33

- 35028

Piove di Sacco

(PD)

- IT -

 

Position

Since

Shares Amount

% Ownership

Responsible technician

 

 

 

 

No Protests registered.

 

 

Veggian

Andrea

 

 

 

Born in Piove di Sacco

(PD)

on 10/09/1975

- Fiscal Code : VGGNDR75P10G693C

 

 

 

Residence :

Via

Vivaldi

, 31A I.B

- 35028

Piove di Sacco

(PD)

- IT -

 

Position

Since

Shares Amount

% Ownership

Managing Director

04/10/2010

 

 

Director

04/10/2010

 

 

 

No Protests registered.

 

 

Euro Executive S.r.l.

 

 

 

 

 

 

Residence :

Via

Turazza Domenico

, 48/32

- 35128

Padova

(PD)

- IT -

 

Position

Since

Shares Amount

% Ownership

Procurator

22/05/2008

 

 

 

No Protests registered.

 

 

Zenatto

Paolo

 

 

 

Born in Padova

(PD)

on 13/03/1967

- Fiscal Code : ZNTPLA67C13G224W

 

 

 

Residence :

Via

Villabona

, 27

- 30175

Venezia

(VE)

- IT -

 

Position

Since

Shares Amount

% Ownership

Attorney with special power

17/06/2010

 

 

 

No Protests registered.

 

 

Trevisan

Marco

 

 

 

Born in Padova

(PD)

on 16/01/1973

- Fiscal Code : TRVMRC73A16G224S

 

Position

Since

Shares Amount

% Ownership

Responsible technician

 

 

 

 

No Protests registered.

 

 

Svensson

Jan Olof

 

 

 

Born in Halmstad

on 29/01/1956

- Fiscal Code : SVNJLF56A29Z132R

 

 

 

Residence :

Sjogardsgatan

, 44

Se 571 37 Nassjo - Svezia

- SE -

 

Position

Since

Shares Amount

% Ownership

Managing Director

04/10/2010

 

 

Director

04/10/2010

 

 

Board Chairman

04/10/2010

 

 

 

No Protests registered.

 

 

Holmqvist

Mats Olof

 

 

 

Born in Naum

on 23/10/1951

- Fiscal Code : HLMMSL51R23Z132P

 

 

 

Residence :

Kronhjorst Svagen - Svezia

, 19

Se 531 57 Lidkoping - Svezia

- SE -

 

Position

Since

Shares Amount

% Ownership

Managing Director

04/10/2010

 

 

Director

04/10/2010

 

 

Assistant board Chairman

04/10/2010

 

 

 

No Protests registered.

 

 

Lind

Karl Magnus

 

 

 

Born in Johanneberg

on 14/03/1960

- Fiscal Code : LNDKLM60C14Z132J

 

Position

Since

Shares Amount

% Ownership

Director

04/10/2010

 

 

 

No Protests registered.

 

 

Swegon Bb S.r.l.

 

 

 

 

 

 

Residence :

Via

Valletta

, 5

- 30010

Cona

(VE)

- IT -

 

Position

Since

Shares Amount

% Ownership

Sole partner

 

 

 

 

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.

 

 

VEGGIAN

ANDREA

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

AERTESI S.R.L.

Conselve (PD) - IT -

00616980280

Director

Active

Registered

ASA S.R.L.

Milano (PD) - IT -

12810250154

Sole Director

Withdrawn

Ceased

BLUE FROST S.R.L.

Codevigo (PD) - IT -

00616880282

Director

Withdrawn

Ceased

BLUE SERVICE S.R.L.

Piove di Sacco (PD) - IT -

02669330280

Managing Director

Active

Registered

BLUE SERVICE S.R.L.

Piove di Sacco (PD) - IT -

02669330280

Director

Active

Registered

GREEN BOX S.R.L.

Piove di Sacco (PD) - IT -

02481300289

Director

Active

Registered

HFV S.P.A. HOLDING DI PARTECIPAZIONI

Piove di Sacco (PD) - IT -

01309690285

Director

Active

Registered

PIOVE CLIMA S.R.L.

Piove di Sacco (PD) - IT -

00096270285

Director

Withdrawn

Ceased

SKY BOX S.R.L.

Cona (VE) - IT -

03668140282

Sole Director

Withdrawn

Registered

 

 

EURO EXECUTIVE S.R.L.

 

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

VARASCHIN S.P.A.

Vittorio Veneto (TV) - IT -

00892090267

Attorney with special power

Withdrawn

Registered

 

 

ZENATTO

PAOLO

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

AERTESI S.R.L.

Conselve (PD) - IT -

00616980280

Director

Withdrawn

Registered

 

 

SVENSSON

JAN OLOF

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

BLUE SERVICE S.R.L.

Piove di Sacco (PD) - IT -

02669330280

Managing Director

Active

Registered

BLUE SERVICE S.R.L.

Piove di Sacco (PD) - IT -

02669330280

Director

Active

Registered

BLUE SERVICE S.R.L.

Piove di Sacco (PD) - IT -

02669330280

Board Chairman

Active

Registered

 

 

HOLMQVIST

MATS OLOF

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

BLUE SERVICE S.R.L.

Piove di Sacco (PD) - IT -

02669330280

Managing Director

Active

Registered

BLUE SERVICE S.R.L.

Piove di Sacco (PD) - IT -

02669330280

Director

Active

Registered

BLUE SERVICE S.R.L.

Piove di Sacco (PD) - IT -

02669330280

Assistant board Chairman

Active

Registered

SWEGON BB S.R.L.

Cona (VE) - IT -

03991770276

Director

Active

Registered

SWEGON BB S.R.L.

Cona (VE) - IT -

03991770276

Board Chairman

Active

Registered

 

Capital Shareholders

 

Shareholders' list as at date of data collection:

 

Firm's Style / Name

Seat / Residence

Fiscal Code

Owned Shares

% Ownership

Swegon Bb S.r.l.

Cona - IT -

03991770276

 

100,00

 

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

Petrarca Finanziaria S.P.A.

Padova - IT -

02476500281

12.911 .Eur

1,97

 

 

Active

PIOVE CLIMA S.R.L.

Piove di Sacco - IT -

00096270285

6.000 .Eur

60,00

 

 

Ceased

Blue Service S.r.l.

Piove di Sacco - IT -

02669330280

15.300 .Eur

100,00

 

 

Active

Distretto Veneto Refricold Societa' Consortile A Responsabilita' Limitata

Padova - IT -

03923130284

781 .Eur

3,32

 

 

Active

 

Firm's location and structure

 

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

 

-

Legal and operative seat

 

 

 

 

 

 

Via

Dell' Industria

, 24

- 35028

- Piove di Sacco

(PD)

- IT -

 

 

 

 

PHONE

: 049/9703326

 

-

Branch

(Factory )

since 11/04/2007

 

 

 

 

 

Via

Valletta

, 5

- 30010

- Cona

(VE)

- IT -

 

 

 

 

PHONE

: 0426/921111

 

 

 

 

FAX

: 0426/302222

 

-

Branch

(Warehouse )

since 14/03/2005

 

 

 

 

 

Via

Valletta

, 7 Loc. CANTARANA

- 30010

- Cona

(VE)

- IT -

 

-

Branch

(Factory )

since 01/05/2004

 

 

 

 

 

Via

Dell'industria

, 22-24-26

- 35028

- Piove di Sacco

(PD)

- IT -

 

-

Branch

(Representative office )

since 10/10/2008

 

 

 

 

 

Village Akurli,taniska 204,cts

, 148-C Loc. AKURLI RO. KANDIVALI EAST

- Mumbai

(EE)

- IN -

 

 

 

 

Employees

: 215

 

Fittings and Equipment for a value of 1.220.000

Eur

 

Stocks for a value of 5.950.000

Eur

 

Trade organization: direct or by agents.

The company sells in Italy and abroad.

The company 's mainly customers are companies.

 

 

Historical Information and/or Firm's Status

 

EX-MEMBERS / EX-POSITIONS:

 

 

Hfv S.p.a. Holding Di Partecipazioni

 

 

- Fiscal Code : 01309690285

 

 

 

Residence :

Via

Dell'industria

, 24

- 35028

Piove di Sacco

(PD)

- IT -

 

Ex-Postions

Sole partner

 

 

Kpmg S.p.a.

 

 

- Fiscal Code : 00709600159

 

 

 

Residence :

Via

Vittor Pisani

, 25

- 20124

Milano

(MI)

- IT -

 

Ex-Postions

 

 

 

Reconta Ernst E Young S.p.a.

 

 

- Fiscal Code : 00434000584

 

Via

Po

, 32

- 00198

Roma

(RM)

- IT -

 

Ex-Postions

 

 

 

Veggian

Severino

 

 

 

Born in Brugine

on 27/06/1948

- Fiscal Code : VGGSRN48H27B213H

 

 

 

Residence :

Via

Vivaldi

, 33

- 35028

Piove di Sacco

(PD)

- IT -

 

Ex-Postions

Managing Director

Director

Board Chairman

 

 

Callegaro

Achille

 

 

 

Born in Campagna Lupia

on 22/04/1947

- Fiscal Code : CLLCLL47D22B493P

 

 

 

Residence :

Sestiere

Cannaregio

, 2014

- 30100

Venezia

(VE)

- IT -

 

Ex-Postions

Chairman of the Board of Aud.

 

 

Sbalchiero

Antonio

 

 

 

Born in Teolo

on 14/10/1946

- Fiscal Code : SBLNTN46R14L100Y

 

 

 

Residence :

Via

Cremona

, 3

- 35142

Padova

(PD)

- IT -

 

Ex-Postions

Permanent Auditor

 

 

Miotto

Alessandra

 

 

 

Born in Piove di Sacco

on 08/09/1952

- Fiscal Code : MTTLSN52P48G693J

 

 

 

Residence :

Via

Vivaldi

, 33

- 35028

Piove di Sacco

(PD)

- IT -

 

Ex-Postions

Managing Director

Director

Assistant board Chairman

 

 

Mometto

Roberto

 

 

 

Born in Padova

on 27/07/1964

- Fiscal Code : MMTRRT64L27G224W

 

 

 

Residence :

Via

Pontevigodarzere

, 74

- 35133

Padova

(PD)

- IT -

 

Ex-Postions

Temporary Auditor

 

 

Zamberlan

Ernesto

 

 

 

Born in Padova

on 24/01/1960

- Fiscal Code : ZMBRST60A24G224C

 

 

 

Residence :

Via

Bologna

, 12

- 35010

Vigonza

(PD)

- IT -

 

Ex-Postions

Temporary Auditor

 

 

Frigo

Renato Alessandro

 

 

 

Born in Roana

on 07/04/1947

- Fiscal Code : FRGRTL47D07H361R

 

 

 

Residence :

Via

Pettinati

, 38

- 35129

Padova

(PD)

- IT -

 

Ex-Postions

Permanent Auditor

 

 

Veggian

Lisa

 

 

 

Born in Piove di Sacco

on 21/07/1979

- Fiscal Code : VGGLSI79L61G693F

 

 

 

Residence :

Via

Vivaldi

, 31A I.A

- 35028

Piove di Sacco

(PD)

- IT -

 

Ex-Postions

Director

 

 

Pallaro

Caterina

 

 

 

Born in Padova

on 04/09/1971

- Fiscal Code : PLLCRN71P44G224T

 

 

 

Residence :

Via

Giuseppe Malachin

, 41

- 35031

Abano Terme

(PD)

- IT -

 

Ex-Postions

Permanent Auditor

Temporary Auditor

 

CEASINGS/INCORPORATIONS/MERGES:

 

 

Project of merging by taking over of

 

 

 

PIOVE CLIMA S.R.L.

 

 

 

Via

Enrico Mattei

, 10

, 35028

, Piove di Sacco

(PD)

- IT -

 

 

 

Fiscal Code: 00096270285

 

 

 

Date

Merging/splitting-up project :

24/06/2004

 

 

The firm absorbed by merging of

 

 

 

PIOVE CLIMA S.R.L.

 

 

 

Via

Enrico Mattei

, 10

, 35028

, Piove di Sacco

(PD)

- IT -

 

 

 

Fiscal Code: 00096270285

 

 

 

Date

:

08/11/2004

 

 

The firm absorved

 

 

 

PIOVE CLIMA S.R.L.

 

 

 

Via

Enrico Mattei

, 10

, 35028

, Piove di Sacco

(PD)

- IT -

 

 

 

Fiscal Code: 00096270285

 

 

 

Date

:

08/11/2004

 

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

128.235 - 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 1991.

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

Unstable economic results mark the company's financial state of affairs. ; in the last financial year a loss was registered (r.o.e. -1,41%) Business volume is falling in the last financial year.

The operating result in 2009 was positive (0,42%) and reflects the field's average.

An operating result of Eur. 128.121 has been registered. showing a fall as opposed to the previous year (-96,19%).

A gross operating margine for a value of Eur. 973.269 was reached. showing a drop (-76,02%).

The financial status of the company is fairly balanced with an indebtedness level of 1,48 even though on the increase if compared to 2008.

It's shareholders funds amount to Eur. 11.298.661 , stable in comparison with the value of the previous year.

The financial management has recorded total debts amounting to Eur. 16.953.669, with no important change.

The company does not exceed in bank credits; payments average period is instead slightly high (149,83 gg.) but lined up with the field's average.

It shows a good range of liquidity.

Due from customers average term is high and equal to 110,61 days. but in line with the sector.

As far as the cash flow is concerned during the latest financial year it amounted to Eur. 680.747

Labour cost expenses amount to Eur. 9.542.521 , representing 21,65% on the total of production costs. , with a 22,99% incidence on turnover.

Financial charges have a limited incidence (-0,01%) on sales volume.


Financial Data

 

 

 

Complete balance-sheet for the year

31/12/2009

(in Eur

x 1 )

 

Item Type

Value

Sales

41.501.872

Profit (Loss) for the period

-159.144

 

 

 

Complete balance-sheet for the year

31/12/2008

(in Eur

x 1 )

 

Item Type

Value

Sales

49.543.237

Profit (Loss) for the period

1.906.333

 

 

 

Complete balance-sheet for the year

31/12/2007

(in Eur

x 1 )

 

Item Type

Value

Sales

51.066.801

Profit (Loss) for the period

1.519.248

 

 

 

Complete balance-sheet for the year

31/12/2006

(in Eur

x 1 )

 

Item Type

Value

Sales

50.228.216

Profit (Loss) for the period

147.201

 

 

 

Complete balance-sheet for the year

31/12/2005

(in Eur

x 1 )

 

Item Type

Value

Sales

39.787.155

Profit (Loss) for the period

308.300

 

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.

475.136

 

 

. . Industrial patent rights

 

933

4.667

. . Concessions,licenses,trademarks,etc.

98.155

191.233

336.743

. . Goodwill

 

 

 

. . Assets in formation and advance paymen.

 

443.447

 

. . Other intangible fixed assets

2.031.732

1.108.080

800.479

. Total Intangible Fixed Assets

2.605.023

1.743.693

1.141.889

. TANGIBLE FIXED ASSETS

 

 

 

. . Real estate

 

 

 

. . Plant and machinery

1.107.746

726.695

70.727

. . Industrial and commercial equipment

115.990

108.370

64.676

. . Other assets

345.169

483.420

489.748

. . Assets under construction and advances

261.661

49.407

549.333

. Total Tangible fixed assets

1.830.566

1.367.892

1.174.484

. FINANCIAL FIXED ASSETS

 

 

 

. . Equity investments

630.050

266.883

275.383

. . . Equity invest. in subsidiary companies

627.194

264.027

273.027

. . . Equity invest. in associated companies

 

 

 

. . . Equity invest. in holding companies

 

 

 

. . . Equity invest. in other companies

2.856

2.856

2.356

. . Financial receivables

 

97.779

155.493

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

97.779

155.493

. . . 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

 

97.779

155.493

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

97.779

155.493

. . Other securities

 

 

 

. . Own shares

 

 

 

. . . Total nominal value

 

 

 

. Total financial fixed assets

630.050

364.662

430.876

Total fixed assets

5.065.639

3.476.247

2.747.249

CURRENT ASSETS

 

 

 

. INVENTORIES

 

 

 

. . Raw materials and other consumables

3.511.247

5.939.965

5.053.701

. . Work in progress and semimanufactured

1.326.142

1.194.964

1.093.351

. . Work in progress on order

 

 

 

. . Finished goods

1.110.660

839.934

1.016.697

. . Advance payments

 

 

 

. Total Inventories

5.948.049

7.974.863

7.163.749

. CREDITS NOT HELD AS FIXED ASSETS

 

 

 

. . Within 12 months

16.619.789

15.072.796

15.895.550

. . Beyond 12 months

67.632

62.310

57.822

. . Trade receivables

12.750.973

12.811.879

13.124.788

. . . . Within 12 months

12.750.973

12.811.879

13.124.788

. . . . Beyond 12 months

 

 

 

. . Receivables due from subsid. comp.

1.903.227

1.130.235

1.648.675

. . . . Within 12 months

1.903.227

1.130.235

1.648.675

. . . . Beyond 12 months

 

 

 

. . Receivables due from assoc. comp.

 

 

117.271

. . . . Within 12 months

 

 

117.271

. . . . Beyond 12 months

 

 

 

. . Receivables due from holding comp.

486.045

137.736

 

. . . . Within 12 months

486.045

137.736

 

. . . . Beyond 12 months

 

 

 

. . Fiscal Receivables

519.101

153.851

352.395

. . . . Within 12 months

519.101

153.851

352.395

. . . . Beyond 12 months

 

 

 

. . Receivables for anticipated taxes

411.743

431.566

497.831

. . . . Within 12 months

411.743

431.566

497.831

. . . . Beyond 12 months

 

 

 

. . Receivables due from third parties

616.332

469.839

212.412

. . . . Within 12 months

548.700

407.529

154.590

. . . . Beyond 12 months

67.632

62.310

57.822

. Total Credits not held as fixed assets

16.687.421

15.135.106

15.953.372

. 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

185.064

155.404

1.044.551

. . Checks

 

 

 

. . Banknotes and coins

4.887

2.243

6.070

. Total Liquid funds

189.951

157.647

1.050.621

Total current assets

22.825.421

23.267.616

24.167.742

ADJUSTMENT ACCOUNTS

 

 

 

. Discount on loans

 

 

 

. Other adjustment accounts

2.490.173

2.437.922

2.299.461

Total adjustments accounts

2.490.173

2.437.922

2.299.461

TOTAL ASSETS

30.381.233

29.181.785

29.214.452

 

 

 

 

LIABILITIES

 

 

 

STOCKHOLDERS' EQUITY

 

 

 

. Capital stock

119.000

119.000

119.000

. Additional paid-in capital

 

3.111.270

3.111.270

. Revaluation reserves

982.387

982.387

982.387

. Legal reserve

53.337

53.337

53.337

. Reserve for Own shares

 

 

 

. Statute reserves

 

 

 

. Other reserves

10.303.081

5.685.477

4.166.231

. Accumulated Profits (Losses)

 

 

 

. Profit( loss) of the year

-159.144

1.906.333

1.519.248

. Advances on dividends

 

 

 

. Partial loss of the year Coverage

 

 

 

Total Stockholders'Equity

11.298.661

11.857.804

9.951.473

RESERVES FOR RISKS AND CHARGES

 

 

 

. . Reserve for employee termination indem.

94.363

144.923

205.395

. . Taxation fund, also differed

 

 

 

. . Other funds

795.533

589.816

673.853

Total Reserves for Risks and Charges

889.896

734.739

879.248

Employee termination indemnities

1.235.767

1.339.140

1.463.788

ACCOUNTS PAYABLE

 

 

 

. . . . Within 12 months

16.953.669

15.222.021

16.865.695

. . . . Beyond 12 months

 

23.081

49.353

. . 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

1.803.552

950.469

1.465.338

. . . . Within 12 months

1.803.552

938.185

1.441.177

. . . . Beyond 12 months

 

12.284

24.161

. . Due to other providers of finance

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Advances from customers

211.888

206.407

423.539

. . . . Within 12 months

211.888

206.407

423.539

. . . . Beyond 12 months

 

 

 

. . Trade payables

9.367.300

9.779.795

10.092.136

. . . . Within 12 months

9.367.300

9.779.795

10.092.136

. . . . Beyond 12 months

 

 

 

. . Securities issued

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Due to subsidiary companies

2.036.358

1.918.537

1.293.833

. . . . Within 12 months

2.036.358

1.918.537

1.293.833

. . . . Beyond 12 months

 

 

 

. . Due to associated companies

 

 

346.272

. . . . Within 12 months

 

 

346.272

. . . . Beyond 12 months

 

 

 

. . Due to holding companies

1.208.262

201.267

846.471

. . . . Within 12 months

1.208.262

201.267

846.471

. . . . Beyond 12 months

 

 

 

. . Due to the tax authorities

417.702

454.756

496.571

. . . . Within 12 months

417.702

443.959

471.379

. . . . Beyond 12 months

 

10.797

25.192

. . Due to social security and welfare inst.

497.620

541.292

495.506

. . . . Within 12 months

497.620

541.292

495.506

. . . . Beyond 12 months

 

 

 

. . Other payables

1.410.987

1.192.579

1.455.382

. . . . Within 12 months

1.410.987

1.192.579

1.455.382

. . . . Beyond 12 months

 

 

 

Total accounts payable

16.953.669

15.245.102

16.915.048

ADJUSTMENT ACCOUNTS

 

 

 

. Agio on loans

 

 

 

. Other adjustment accounts

3.240

5.000

4.895

Total adjustment accounts

3.240

5.000

4.895

TOTAL LIABILITIES

30.381.233

29.181.785

29.214.452

 

 

 

 

 

 

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

41.501.872

49.543.237

51.066.801

. Changes in work in progress

426.565

-24.625

448.117

. Changes in semi-manufact. products

 

 

 

. Capitalization of internal work

593.920

 

 

. Other income and revenues

1.675.814

1.377.155

1.213.783

. . Contributions for operating expenses

113.500

91.449

82.283

. . Different income and revenues

1.562.314

1.285.706

1.131.500

Total value of production

44.198.171

50.895.767

52.728.701

PRODUCTION COSTS

 

 

 

. Raw material,other materials and consum.

19.156.831

24.647.383

26.710.055

. Services received

9.486.788

10.503.659

10.092.936

. Leases and rentals

1.660.015

1.548.587

1.617.938

. Payroll and related costs

9.542.521

10.379.554

9.963.164

. . Wages and salaries

6.517.314

7.120.488

6.934.744

. . Social security contributions

2.219.744

2.332.471

2.254.008

. . Employee termination indemnities

480.086

505.042

475.856

. . Pension and similar

 

 

 

. . Other costs

325.377

421.553

298.556

. Amortization and depreciation

839.891

685.030

936.295

. . Amortization of intangible fixed assets

379.888

327.938

615.390

. . Amortization of tangible fixed assets

365.120

278.389

212.507

. . Depreciation of tangible fixed assets

 

 

 

. . Writedown of current receiv.and of liquid

94.883

78.703

108.398

. Changes in raw materials

2.405.384

-847.959

-161.978

. Provisions to risk reserves

 

14.203

84.317

. Other provisions

525.761

317.198

338.365

. Other operating costs

452.859

277.312

454.923

Total production costs

44.070.050

47.524.967

50.036.015

Diff. between value and cost of product.

128.121

3.370.800

2.692.686

FINANCIAL INCOME AND EXPENSE

 

 

 

. Income from equity investments

 

 

300.000

. . In subsidiary companies

 

 

 

. . In associated companies

 

 

 

. . In other companies

 

 

 

. Other financial income

61.237

56.651

65.525

. . 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

 

 

15.178

. . Financ.income other than the above

61.237

56.651

50.347

. . . - Subsidiary companies

 

 

 

. . . - Associated companies

 

 

 

. . . - Holding companies

 

 

 

. . . - Other companies

 

 

 

. Interest and other financial expense

-65.445

-49.191

-51.638

. . Towards subsidiary companies

 

 

 

. . Towards associated companies

 

 

 

. . Towards holding companies

 

 

 

. . Towards other companies

 

 

 

Total financial income and expense

-4.208

7.460

313.887

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

49.323

 

8.813

. . Gains on disposals

 

 

 

. . Other extraordinary income

49.323

 

8.813

. Extraordinary expense

-1

-45.000

-2

. . Losses on disposals

 

 

 

. . Taxes relating to prior years

 

 

 

. . Other extraordinary expense

-1

-45.000

-2

Total extraordinary income and expense

49.322

-45.000

8.811

Results before income taxes

173.235

3.333.260

3.015.384

. Taxes on current income

332.379

1.426.927

1.496.136

. . current taxes

312.556

1.426.927

1.552.692

. . differed taxes(anticip.)

19.823

 

-56.556

. Net income for the period

-159.144

1.906.333

1.519.248

. Adjustments in tax regulations pursuance

 

 

 

. Provisions in tax regulations pursuance

 

 

 

. Profit (loss) of the year

-159.144

1.906.333

1.519.248

 

 

 

 

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

0,17

0,12

0,09

0,13

Elasticity Ratio

Units

0,75

0,80

0,82

0,84

Availability of stock

Units

0,20

0,27

0,24

0,19

Total Liquidity Ratio

Units

0,56

0,52

0,58

0,60

Quick Ratio

Units

0,01

0,01

0,03

0,04

COMPOSITION ON SOURCE

 

 

 

 

 

Net Short-term indebtedness

Units

1,48

1,27

1,58

3,26

Self Financing Ratio

Units

0,37

0,41

0,34

0,18

Capital protection Ratio

Units

1,00

0,83

0,83

0,58

Liabilities consolidation quotient

Units

0,07

0,09

0,08

0,16

Financing

Units

1,50

1,29

1,69

4,02

Permanent Indebtedness Ratio

Units

0,41

0,45

0,39

0,33

M/L term Debts Ratio

Units

0,04

0,05

0,05

0,09

Net Financial Indebtedness Ratio

Units

0,14

0,07

0,04

0,44

CORRELATION

 

 

 

 

 

Fixed assets ratio

Units

2,47

3,80

4,17

2,08

Current ratio

Units

1,35

1,53

1,43

1,23

Acid Test Ratio-Liquidity Ratio

Units

1,00

1,00

1,00

0,94

Structure's primary quotient

Units

2,23

3,41

3,62

1,18

Treasury's primary quotient

Units

0,01

0,01

0,06

0,07

Rate of indebtedness ( Leverage )

%

268,89

246,10

293,56

550,96

Current Capital ( net )

Value

5.871.752

8.045.595

7.302.047

343.588

RETURN

 

 

 

 

 

Return on Sales

%

1,64

5,23

4,80

3,93

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

%

- 1,41

16,08

15,26

9,82

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

%

1,53

28,11

30,30

30,22

Return on Investment ( R.O.I. )

%

0,42

11,55

9,21

6,17

Return/ Sales

%

0,31

6,80

5,27

5,29

Extra Management revenues/charges incid.

%

- 124,21

56,55

56,42

29,80

Cash Flow

Value

680.747

2.591.363

2.455.543

125.241

Operating Profit

Value

128.121

3.370.800

2.692.686

166.819

Gross Operating Margin

Value

973.269

4.059.144

3.633.207

254.305

MANAGEMENT

 

 

 

 

 

Credits to clients average term

Days

110,61

93,10

104,94

128,37

Debts to suppliers average term

Days

149,83

116,73

117,82

150,11

Average stock waiting period

Days

51,60

57,95

50,47

54,03

Rate of capital employed return ( Turnover )

Units

1,37

1,70

1,74

1,25

Rate of stock return

Units

6,98

6,21

7,12

6,62

Labour cost incidence

%

22,99

20,95

19,51

18,06

Net financial revenues/ charges incidence

%

- 0,01

0,02

0,61

- 0,88

Labour cost on purchasing expenses

%

21,65

21,84

19,91

18,63

Short-term financing charges

%

0,39

0,32

0,30

2,15

Capital on hand

%

73,20

58,90

57,20

79,60

Sales pro employee

Value

182.827

224.177

235.330

206.728

Labour cost pro employee

Value

42.037

46.966

45.913

35.507

 

 

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

:

882.779

Population living in the region

:

4.699.950

Number of families in the region

:

1.813.210

 

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

 

- per food products

:

456

- per non food products

:

2.052

- per energy consume

:

127

 

Sector Data

 

The values are calculated on a base of 1.964 significant companies.

 

The companies cash their credits on an average of 128 dd.

The average duration of suppliers debts is about 150 dd.

The sector's profitability is on an average of 3,93%.

The labour cost affects the turnover in the measure of 18,06%.

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 1,25.

The employees costs represent the 18,63% of the production costs.

 

Statistical Detrimental Data

 

The area is statistically considered moderately risky.

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

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

Total Bankrupt companies in the province : 3.821.

Total Bankrupt companies in the region : 16.714.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.58

UK Pound

1

Rs.72.73

Euro

1

Rs.61.45

 

 

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.