MIRA INFORM
REPORT
|
Report Date : |
28.01.2011 |
IDENTIFICATION DETAILS
|
Name : |
Tessilnovita S. R. L. |
|
|
|
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Registered Office : |
Viale
Rosselli F.lli, 14 22100 - |
|
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Country : |
|
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|
|
|
Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
29.12.1952 |
|
|
|
|
Legal Form : |
Limited liability company |
|
|
|
|
Line of Business : |
Wholesale and Weaving of Textile Goods |
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 : |
45000 Eur |
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|
|
|
Status : |
Good |
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|
|
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Payment
Behaviour : |
No Complaints |
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|
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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) |
|
|
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company name and address
Tessilnovita' S.r.l.
Viale Rosselli F.lli, 14
22100 -
Summary
|
Fiscal Code |
: |
00222230138 |
|
Legal Form |
: |
Limited liability company |
|
start of Activities |
: |
29/12/1952 |
|
Equity |
: |
400.000 Eur |
|
|
: |
1.500.000/2.000.000 Eur |
|
Number of Employees |
: |
fom 6 to 10 |
Activity
Weaving of textiles
Wholesale of textiles
Wholesale of other textile goods
Legal Data
Legal Form : Limited liability company
Fiscal Code : 00222230138
Foreign Trade Reg. no. : CO001834 since 10/12/1991
Foreign Trade Reg. no. : 1834 of
Chamber of Commerce no. : 68952 of
V.A.T. Code : 00222230138
R. E. C. no. : 20494 of
Tribunal Co. Register : 4288 of
Foundation
date : 29/12/1952
Establishment
date : 29/12/1952
Start
of Activities : 29/12/1952
Legal
duration : 31/12/2050
Nominal
Capital : 28.600 Eur
Subscribed
Capital : 28.600 Eur
Paid
up Capital : 28.600 Eur
Members
|
Bonetti |
Manlio |
|
|
Born in Dumenza |
(VA) |
on 23/05/1937 |
- Fiscal Code : BNTMNL37E23D384Z |
|
|
Residence : |
Via |
Conti Reina |
, 21 |
- 22100 |
|
(CO) |
- IT - |
|
Position |
Since |
Shares
Amount |
%
Ownership |
|
Board Chairman |
25/09/2002 |
|
|
No Protests registered.
|
Cavallini |
Diana |
|
|
Born in |
(CO) |
on 11/08/1947 |
- Fiscal Code : CVLDNI47M51C933D |
|
|
Residence : |
Via |
Conti Reina |
, 21 |
- 22100 |
|
(CO) |
- IT - |
|
Position |
Since |
Shares
Amount |
%
Ownership |
|
Attorney with special power |
10/12/1990 |
|
|
|
Managing Director |
25/09/2002 |
|
|
No Protests registered.
|
Bonetti |
Lara |
|
|
Born in |
(CO) |
on 18/08/1973 |
- Fiscal Code : BNTLRA73M58C933L |
|
|
Residence : |
Via |
Conti Reina |
, 21 |
- 22100 |
|
(CO) |
- IT - |
|
Position |
Since |
Shares
Amount |
%
Ownership |
|
Managing Director |
27/06/2005 |
|
|
No Protests registered.
Companies connected to members *
*checkings have been performed on a national scale.
In this module the companies in which members hold/held
positions are listed.
The Members of the subject firm are not reported to be
Members in other companies.
Capital Shareholders
Shareholders' list as at date of data collection:
|
Firm's Style / Name |
Seat / Residence |
Fiscal
Code |
Owned
Shares |
%
Ownership |
|
Bonetti Lara |
|
BNTLRA73M58C933L |
11.440
.Eur |
40,00
|
|
Cavallini Diana Mara |
|
|
17.160
.Eur |
60,00
|
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
Viale
Rosselli F.lli , 14 - 22100 -
PHONE :
031/571110
- Branch (Store
) since 01/10/1992
Via Rosselli , 14 - 22100 -
Employees :
7
Fittings
and Equipment for a value of 34.000 Eur
Stocks
for a value of 500.000 Eur
The firm operates abroad as importer / exporter. .
To purchase foreign products the firm uses the following
channels :
- its own agents
Export represents from 20% to 50% of the global turnover.
Products abroad are placed by :
- its own agents
Export is mainly towards:
|
- |
|
- Polonia |
|
- Ungheria |
|
- |
|
- Francia |
|
- Belgio |
Historical Information and/or
Firm's Status
CHANGES TO THE LEGAL FORM:
|
Former legal form |
New legal form |
Changement
Date |
|
Other forms |
Limited liability company |
29/10/1980 |
EX-MEMBERS / EX-POSITIONS:
|
Bonetti |
Manlio |
|
|
Born in Dumenza |
on 23/05/1937 |
- Fiscal Code : BNTMNL37E23D384Z |
|
|
Residence : |
Via |
Conti Reina |
, 21 |
- 22100 |
|
(CO) |
- 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.
Immovable *
*Subject to survey.
None reported in the name of the Firm.
Financial and Economical Analysis
Company's starting of activities
dates back to 1952.
Balance sheets for the years
2007, 2008 and 2009 were analyzed.
Unstable economic results mark
the company's financial state of affairs. anyway in 2009 a positive result was
achieved (r.o.e. 0,9%). The turnover is growing in the last financial year
(+14,61%).
The operating result was
positive in the last financial year (2,44%) and in line with the sector's
average.
The amount of the operating result
for the year 2009 is of Eur. 24.354 ,showing stability in respect to the value
of 2008.
The G.O.M. amounted to Eur.
26.198 stable if compared to the financial year 2008.
The company has an excellent net
worth if compared to its debts, with a low indebtedness (0,84) increasing
compared to last year (0,8)
The management generated equity
capital for an amount of Eur. 359.711 , unchanged as opposed to the preceding
year.
Total debts (both short and M/L
term) equals Eur. 432.879, on the same levels as the year before.
Available funds are good.
Trade credits average terms are
68,82 days. , a value lower than the sector's average.
The financial management
generated a cash flow of Eur. 5.082.
Labour cost amounts to Eur.
227.872, with a 14,16% incidence on production costs. and a 13,83% incidence on
sales volumes.
If compared to the sales volume
(-0,12%), the impact of the financial charges is limited.
Financial Data
|
|
Complete balance-sheet for the year |
31/12/2009 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
1.647.706 |
|
Profit (Loss) for the period |
3.254 |
|
|
Complete balance-sheet for the year |
31/12/2008 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
1.437.577 |
|
Profit (Loss) for the period |
1.185 |
|
|
Complete balance-sheet for the year |
31/12/2007 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
1.581.751 |
|
Profit (Loss) for the period |
-39.269 |
|
|
Complete balance-sheet for the year |
31/12/2006 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
1.649.974 |
|
Profit (Loss) for the period |
1.410 |
|
|
Complete balance-sheet for the year |
31/12/2005 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
1.738.211 |
|
Profit (Loss) for the period |
560 |
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 |
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- Balance Sheet as at 31/12/2007 - 12 Mesi - Currency: Eur
- Amounts x 1 |
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RATIOS |
Value Type |
as
at 31/12/2009 |
as
at 31/12/2008 |
as
at 31/12/2007 |
Sector
Average |
|
COMPOSITION
ON INVESTMENT |
|
|
|
|
|
|
Rigidity Ratio |
Units |
0,01 |
0,01 |
0,01 |
0,08 |
|
Elasticity Ratio |
Units |
0,98 |
0,98 |
0,97 |
0,90 |
|
Availability of stock |
Units |
0,50 |
0,54 |
0,52 |
0,25 |
|
Total Liquidity Ratio |
Units |
0,49 |
0,44 |
0,45 |
0,58 |
|
Quick Ratio |
Units |
0,13 |
0,12 |
0,15 |
0,03 |
|
COMPOSITION
ON SOURCE |
|
|
|
|
|
|
Net Short-term indebtedness |
Units |
0,84 |
0,80 |
0,65 |
4,11 |
|
Self Financing Ratio |
Units |
0,36 |
0,37 |
0,35 |
0,15 |
|
Capital protection Ratio |
Units |
0,91 |
0,92 |
1,03 |
0,63 |
|
Liabilities consolidation quotient |
Units |
0,12 |
0,16 |
0,28 |
0,11 |
|
Financing |
Units |
1,20 |
1,12 |
1,13 |
5,04 |
|
Permanent Indebtedness Ratio |
Units |
0,41 |
0,44 |
0,46 |
0,28 |
|
M/L term Debts Ratio |
Units |
0,05 |
0,07 |
0,11 |
0,07 |
|
Net Financial Indebtedness Ratio |
Units |
n.c. |
0,00 |
n.c. |
1,02 |
|
CORRELATION |
|
|
|
|
|
|
Fixed assets ratio |
Units |
36,19 |
36,10 |
28,28 |
2,89 |
|
Current ratio |
Units |
2,27 |
2,33 |
2,49 |
1,21 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
1,12 |
1,04 |
1,15 |
0,85 |
|
Structure's primary quotient |
Units |
31,58 |
30,73 |
21,57 |
1,77 |
|
Treasury's primary quotient |
Units |
0,30 |
0,29 |
0,40 |
0,05 |
|
Rate of indebtedness ( Leverage ) |
% |
277,35 |
267,16 |
282,20 |
634,84 |
|
Current Capital ( net ) |
Value |
548.135 |
532.244 |
550.059 |
264.536 |
|
RETURN |
|
|
|
|
|
|
Return on Sales |
% |
0,31 |
0,44 |
-
2,15 |
2,24 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
0,90 |
0,33 |
-
11,78 |
8,17 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
6,24 |
2,63 |
-
8,04 |
23,98 |
|
Return on Investment ( R.O.I. ) |
% |
2,44 |
2,42 |
-
1,87 |
5,16 |
|
Return/ Sales |
% |
1,48 |
1,60 |
-
1,11 |
3,89 |
|
Extra Management revenues/charges incid. |
% |
13,36 |
5,15 |
n.c. |
27,37 |
|
Cash Flow |
Value |
5.082 |
6.337 |
-34.141 |
56.925 |
|
Operating Profit |
Value |
24.354 |
23.000 |
-17.668 |
96.744 |
|
Gross Operating Margin |
Value |
26.198 |
28.152 |
-12.526 |
134.262 |
|
MANAGEMENT |
|
|
|
|
|
|
Credits to clients average term |
Days |
68,82 |
64,36 |
62,53 |
121,35 |
|
Debts to suppliers average term |
Days |
n.c. |
111,43 |
80,00 |
142,27 |
|
Average stock waiting period |
Days |
108,36 |
129,09 |
112,21 |
65,23 |
|
Rate of capital employed return ( Turnover ) |
Units |
1,65 |
1,51 |
1,68 |
1,37 |
|
Rate of stock return |
Units |
3,32 |
2,79 |
3,20 |
5,48 |
|
Labour cost incidence |
% |
13,83 |
17,57 |
17,61 |
8,02 |
|
Net financial revenues/ charges incidence |
% |
-
0,12 |
-
0,95 |
-
0,57 |
-
1,07 |
|
Labour cost on purchasing expenses |
% |
14,16 |
17,72 |
18,11 |
8,14 |
|
Short-term financing charges |
% |
0,70 |
3,41 |
3,10 |
2,47 |
|
Capital on hand |
% |
60,55 |
66,24 |
59,46 |
72,70 |
|
Sales pro employee |
Value |
235.386 |
205.368 |
175.750 |
416.252 |
|
Labour cost pro employee |
Value |
32.553 |
36.081 |
30.962 |
32.474 |
Market / Territory Data
|
Population living in the province |
: |
560.941 |
|
Population living in the region |
: |
9.393.092 |
|
Number of families in the region |
: |
3.858.736 |
Monthly family expenses average in the region (in Eur.) :
|
- per food products |
: |
460 |
|
- per non food products |
: |
2.090 |
|
- per energy consume |
: |
114 |
Sector Data
The values are calculated on a base of 9.175 significant
companies.
The companies cash their credits on an average of 121 dd.
The average duration of suppliers debts is about 142 dd.
The sector's profitability is on an average of 2,24%.
The labour cost affects the turnover in the measure of
8,02%.
Goods are held in stock in a range of 65 dd.
The difference between the sales volume and the resources
used to realize it is about 1,37.
The employees costs represent the 8,14% of the production
costs.
Statistical Detrimental Data
The area is statistically considered moderately risky.
In the region 50.886 protested subjects are found; in the
province they count to 3.842.
The insolvency index for the region is 0,55, , while for the
province it is 0,70.
Total Bankrupt companies in the province : 2.010.
Total Bankrupt companies in the region : 39.612.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.57 |
|
|
1 |
Rs.72.50 |
|
Euro |
1 |
Rs.62.46 |
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 Company |
---- |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial condition
(40%) Ownership background
(20%) Payment record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.