MIRA INFORM
REPORT
|
Report Date : |
31.01.2011 |
IDENTIFICATION DETAILS
|
Name : |
Demak S.R.L. |
|
|
|
|
Registered Office : |
Strada Del
Cascinotto 163, 10100 – Torino (TO) – IT- |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2009 |
|
|
|
|
Date of Incorporation : |
13.07.1984 |
|
|
|
|
Com. Reg. No.: |
TO272-1984-3392 since 19/02/1996 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacture of
Machinery for the Plastic and Rubber Industry. |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
Maximum Credit Limit : |
|
|
Status : |
Very Good |
|
Payment
Behaviour : |
No Complaints |
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30, 2010
|
Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
|
Italy |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Company name and address
DEMAK S.R.L.
Strada Del Cascinotto, 163
10100 -
Summary
|
Fiscal Code |
: |
04672960012 |
|
Legal Form |
: |
Limited liability company |
|
start of Activities |
: |
25/11/1986 |
|
Equity |
: |
2.000.000 Eur |
|
|
: |
3.000.000/3.750.000 Eur |
|
Number of Employees |
: |
from 16 to 25 |
Credit Analysis
|
Credit Opinion |
: |
120.000 - Eur |
Activity
Manufacture of machinery for the plastic and rubber industry
(including spare parts and accessories)
Legal Data
Legal Form : Limited liability company
Fiscal Code : 04672960012
Foreign Trade Reg. no. :
TO005800 since 03/12/1991
Chamber of Commerce no. : 651099
of
Firms' Register :
TO272-1984-3392 since 19/02/1996
V.A.T. Code : 04672960012
R. E. C. no. : 120962 of
Foundation
date : 13/07/1984
Establishment
date : 13/07/1984
Start of
Activities : 25/11/1986
Legal
duration : 31/12/2100
Nominal
Capital : 26.000 Eur
Subscribed
Capital : 26.000 Eur
Paid
up Capital : 26.000 Eur
Members
|
Bortolini |
Giacomina |
|
|
Born in San Mauro Torinese |
(TO) |
on 30/03/1938 |
- Fiscal Code : BRTGMN38C70I030F |
|
|
|
Residence : |
Corso |
Massimo D'azeglio |
, 55 |
- 10100 |
|
(TO) |
- IT - |
|
Position |
Since |
Shares
Amount |
%
Ownership |
|
Director |
16/01/2008 |
|
|
No Protests registered.
|
Gastaldi |
Maurizio |
|
|
|
Born in |
(GE) |
on 07/12/1964 |
- Fiscal Code : GSTMRZ64T07H183I |
|
|
|
Residence : |
Strada |
Val San Martino Superiore |
, 102/BIS |
- 10100 |
|
(TO) |
- IT - |
|
Position |
Since |
Shares
Amount |
% Ownership |
|
Director |
16/01/2008 |
|
|
|
Board Chairman |
16/01/2008 |
|
|
No Protests registered.
|
Gastaldi |
Silvia |
|
|
|
Born in |
(GE) |
on 23/10/1962 |
- Fiscal Code : GSTSLV62R63H183U |
|
|
|
Residence : |
Via |
Pio V |
, 31 |
- 10100 |
|
(TO) |
- IT - |
|
Position |
Since |
Shares
Amount |
%
Ownership |
|
Managing Director |
16/01/2008 |
|
|
|
Director |
16/01/2008 |
|
|
|
Assistant board Chairman |
16/01/2008 |
|
|
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.
|
GASTALDI |
MAURIZIO |
|
Firm's Style |
Seat |
Fiscal
Code |
Position |
Position
Status |
Firm's
Status |
|
S.E. SPECIAL ENGINES S.R.L. |
|
01811860012 |
Managing
Director |
Withdrawn |
Registered |
|
S.E. SPECIAL ENGINES S.R.L. |
|
01811860012 |
Director
|
Active |
Registered |
|
S.E. SPECIAL ENGINES S.R.L. |
|
01811860012 |
Board
Chairman |
Active |
Registered |
|
|
GASTALDI |
SILVIA |
|
Firm's Style |
Seat |
Fiscal
Code |
Position |
Position
Status |
Firm's
Status |
|
S.E. SPECIAL ENGINES S.R.L. |
|
01811860012 |
Managing
Director |
Active |
Registered |
|
S.E. SPECIAL ENGINES S.R.L. |
|
01811860012 |
Director
|
Active |
Registered |
The indication "REGISTERED" as Firm Status could refer
to Firms in Liquidation, Active, Inactive, etc.
For more information, in this case, we advise to request
further investigations.
Capital Shareholders
Shareholders' list as at date of data collection:
|
Firm's Style / Name |
Seat / Residence |
Fiscal
Code |
Owned
Shares |
%
Ownership |
|
Bortolini Giacomina |
|
BRTGMN38C70I030F |
1.386
.Eur |
5,33
|
|
Gastaldi Maurizio |
|
GSTMRZ64T07H183I |
12.307
.Eur |
47,33
|
|
Gastaldi Silvia |
|
GSTSLV62R63H183U |
12.307
.Eur |
47,33
|
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
Strada Del
Cascinotto, 163 - 10100 - Torino (TO)- IT -
PHONE : 011/2239876
- Branch (office ) since 08/07/2010
Strada
Del Cascinotto - P.6,163 - 10100 -
Torino (TO) - IT -
Employees
: 21
Assistants :
3
Fittings
and Equipment for a value of 45.000 Eur
Stocks
for a value of 1.330.000 Eur
The firm operates abroad as importer / exporter. .
Export represents up to 20% of the global turnover.
Products abroad are placed by :
- its own agents
Historical Information and/or Firm's Status
CHANGES TO THE LEGAL FORM:
|
Former legal form |
New legal form |
Changement
Date |
|
Limited partnership |
Limited liability company |
29/12/1994 |
EX-MEMBERS / EX-POSITIONS:
|
Gastaldi |
Enzo |
|
|
|
Born in |
on 27/06/1931 |
- Fiscal Code : GSTNZE31H27L219N |
|
|
|
Residence : |
Corso |
Massimo D'azeglio |
, 55 |
- 10126 |
|
(TO) |
- IT - |
|
Ex-Postions |
|
Director |
|
Board Chairman |
|
|
Ellena |
Renato |
|
|
|
Born in |
on 25/01/1932 |
- Fiscal Code : LLNRNT32A25L219Y |
|
|
|
Residence : |
Via |
Michele Lessona |
, 13 |
- 10143 |
|
(TO) |
- IT - |
|
Ex-Postions |
|
Permanent Auditor |
|
|
Bigoni |
Marco Giuseppe |
|
|
|
Born in |
on 09/11/1954 |
- Fiscal Code : BGNMCG54S09L219H |
|
|
|
Residence : |
Via |
G. Collegno |
, 44 |
- 10100 |
|
(TO) |
- IT - |
|
Ex-Postions |
|
Chairman of the Board of Aud. |
|
|
De Filippi |
Claudio |
|
|
|
Born in |
on 01/10/1961 |
- Fiscal Code : DFLCLD61R01L219J |
|
|
|
Residence : |
Via |
NINO COSTA |
, 2 |
- 10023 |
Chieri |
(TO) |
- IT - |
|
Ex-Postions |
|
Temporary Auditor |
|
|
Testa |
Davide |
|
|
|
Born in |
on 23/01/1963 |
- Fiscal Code : TSTDVD63A23D205H |
|
|
|
Residence : |
Corso |
Monte Cucco |
, 73 |
- 10100 |
|
(TO) |
- IT - |
|
Ex-Postions |
|
Permanent Auditor |
|
|
De Stefano |
Claudio |
|
|
|
Born in |
on 13/10/1957 |
- Fiscal Code : DSTCLD57R13F839C |
|
|
|
Residence : |
Via |
BARDONECCHIA |
, 93 |
- 10100 |
|
(TO) |
- IT - |
|
Ex-Postions |
|
Temporary Auditor |
|
|
Gastaldi |
Maurizio |
|
|
|
Born in |
on 07/12/1964 |
- Fiscal Code : GSTMRZ64T07H183I |
|
|
|
Residence : |
Strada |
Val San Martino Superiore |
, 102/BIS |
- 10100 |
|
(TO) |
- IT - |
|
Ex-Postions |
|
Managing Director |
|
Assistant board Chairman |
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 |
437.556
- Eur |
NB.: For Capital Companies the value of the Immovables is
the one reported in the latest available financial documents.
Financial and Economical Analysis
Subject is active since 1986
Balance sheets for the years 2007, 2008 and 2009 were analyzed.
During the last years, it recorded positive net results
(r.o.e. 1,03% in 2009)
The operating result in 2009 was positive (3,36%) falling
within the field's average.
An operating result of Eur. 155.135 has been registered.
showing a fall as opposed to the previous year (-52,1%).
The gross operating margin of the latest financial year is
of Eur. 303.312 , with a -41,85% decrease.
Very good financial situation: shareholder's equity covers
short-terms debts with an indebtedness level equal to 0,79 increasing compared
to last year (0,43)
The equity capital is equal to Eur. 1.854.568 , unchanged as
opposed to the preceding year.
Total debts recorded amounted to Eur. 2.276.762 (Eur. 10.725
of which were m/l term debts) showing a stable trend as opposed to 2008 (Eur.
2.027.956).
The recourse to financial credit is within the limits; on
the other hand the recourse to suppliers' credit is rated as fairly high even
in comparison with the sector's.
Neverthless available funds are good.
Trade credits are collected slowly, average term is 103,18
days. within the standard level of the average of the sector.
The financial management generated a cash flow of Eur.
167.294.
During 2009 financial year labour costs amounted to Eur. 1.118.741,
with a 28,83% incidence on production costs. , whereas 31,8% is the incidence
on sales revenues.
Financial charges have a limited incidence (-1,4%) on sales
volume.
Financial Data
|
|
|
Complete balance-sheet for the year |
31/12/2009 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
3.518.205 |
|
Profit (Loss) for the period |
19.117 |
|
|
|
Complete balance-sheet for the year |
31/12/2008 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
5.645.425 |
|
Profit (Loss) for the period |
249.871 |
|
|
|
Complete balance-sheet for the year |
31/12/2007 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
5.346.193 |
|
Profit (Loss) for the period |
121.846 |
|
|
|
Complete balance-sheet for the year |
31/12/2006 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
6.484.814 |
|
Profit (Loss) for the period |
27.904 |
|
|
|
Complete balance-sheet for the year |
31/12/2005 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
5.904.215 |
|
Profit (Loss) for the period |
47.675 |
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 |
|
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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 |
0,27 |
0,31 |
0,18 |
0,14 |
|
Elasticity Ratio |
Units |
0,72 |
0,68 |
0,79 |
0,83 |
|
Availability of stock |
Units |
0,29 |
0,24 |
0,32 |
0,22 |
|
Total Liquidity Ratio |
Units |
0,43 |
0,43 |
0,47 |
0,55 |
|
Quick Ratio |
Units |
0,17 |
0,24 |
0,12 |
0,04 |
|
COMPOSITION
ON SOURCE |
|
|
|
|
|
|
Net Short-term indebtedness |
Units |
0,79 |
0,43 |
1,96 |
3,07 |
|
Self Financing Ratio |
Units |
0,40 |
0,42 |
0,22 |
0,19 |
|
Capital protection Ratio |
Units |
0,98 |
0,84 |
0,83 |
0,63 |
|
Liabilities consolidation quotient |
Units |
0,16 |
0,26 |
0,27 |
0,18 |
|
Financing |
Units |
1,23 |
1,10 |
2,90 |
3,74 |
|
Permanent Indebtedness Ratio |
Units |
0,48 |
0,53 |
0,38 |
0,35 |
|
M/L term Debts Ratio |
Units |
0,08 |
0,11 |
0,15 |
0,10 |
|
Net Financial Indebtedness Ratio |
Units |
0,00 |
0,00 |
0,00 |
0,68 |
|
CORRELATION |
|
|
|
|
|
|
Fixed assets ratio |
Units |
1,79 |
1,71 |
2,05 |
2,15 |
|
Current ratio |
Units |
1,47 |
1,58 |
1,39 |
1,26 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
0,88 |
1,01 |
0,82 |
0,91 |
|
Structure's primary quotient |
Units |
1,50 |
1,35 |
1,21 |
1,24 |
|
Treasury's primary quotient |
Units |
0,35 |
0,57 |
0,21 |
0,07 |
|
Rate of indebtedness ( Leverage ) |
% |
248,89 |
234,77 |
439,45 |
522,89 |
|
Current Capital ( net ) |
Value |
1.060.404 |
1.085.282 |
885.920 |
420.263 |
|
RETURN |
|
|
|
|
|
|
Return on Sales |
% |
4,76 |
7,92 |
4,92 |
3,40 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
1,03 |
13,61 |
13,66 |
6,99 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
5,70 |
21,07 |
38,08 |
23,56 |
|
Return on Investment ( R.O.I. ) |
% |
3,36 |
7,51 |
9,00 |
5,48 |
|
Return/ Sales |
% |
4,41 |
5,73 |
6,59 |
4,86 |
|
Extra Management revenues/charges incid. |
% |
12,32 |
77,14 |
34,54 |
25,43 |
|
Cash Flow |
Value |
167.294 |
447.597 |
263.225 |
100.067 |
|
Operating Profit |
Value |
155.135 |
323.887 |
352.669 |
129.376 |
|
Gross Operating Margin |
Value |
303.312 |
521.613 |
494.705 |
197.492 |
|
MANAGEMENT |
|
|
|
|
|
|
Credits to clients average term |
Days |
103,18 |
40,73 |
n.c. |
128,44 |
|
Debts to suppliers average term |
Days |
188,73 |
100,20 |
n.c. |
151,43 |
|
Average stock waiting period |
Days |
136,28 |
67,09 |
85,55 |
65,66 |
|
Rate of capital employed return ( Turnover ) |
Units |
0,76 |
1,31 |
1,36 |
1,19 |
|
Rate of stock return |
Units |
2,64 |
5,36 |
4,20 |
5,43 |
|
Labour cost incidence |
% |
31,80 |
18,91 |
20,33 |
18,22 |
|
Net financial revenues/ charges incidence |
% |
- 1,40 |
1,11 |
-
0,24 |
-
1,10 |
|
Labour cost on purchasing expenses |
% |
28,83 |
19,85 |
18,36 |
18,70 |
|
Short-term financing charges |
% |
2,25 |
n.c. |
1,24 |
2,51 |
|
Capital on hand |
% |
131,20 |
76,32 |
73,28 |
83,78 |
|
Sales pro employee |
Value |
167.533 |
268.829 |
162.005 |
213.359 |
|
Labour cost pro employee |
Value |
53.273 |
50.858 |
32.938 |
35.786 |
Market / Territory Data
|
Population living in the province |
: |
2.236.941 |
|
Population living in the region |
: |
4.330.172 |
|
Number of families in the region |
: |
1.889.207 |
Monthly family expenses average in the region (in Eur.) :
|
- per food products |
: |
429 |
|
- per non food products |
: |
1.789 |
|
- per energy consume |
: |
135 |
Sector Data
The values are calculated on a base of 1.206 significant
companies.
The companies cash their credits on an average of 128 dd.
The average duration of suppliers debts is about 151 dd.
The sector's profitability is on an average of 3,40%.
The labour cost affects the turnover in the measure of
18,22%.
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 1,19.
The employees costs represent the 18,70% of the production
costs.
Statistical Detrimental Data
The area is statistically considered moderately risky.
In the region 27.019 protested subjects are found; in the
province they count to 16.723.
The insolvency index for the region is 0,63, , while for the
province it is 0,76.
Total Bankrupt companies in the province : 7.726.
Total Bankrupt companies in the region : 14.165.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian
Rupees |
|
US Dollar |
1 |
Rs.45.74 |
|
|
1 |
Rs.72.73 |
|
Euro |
1 |
Rs.62.73 |
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.