MIRA INFORM REPORT

 

 

Report Date :

31.01.2011

 

IDENTIFICATION DETAILS

 

Name :

INOX MARE S.R.L. 

 

 

Registered Office :

Via Pomposa,    51/I ,

47037 – Rimini (RN)

 

 

Country :

Italy

 

 

Financials (as on) :

31.12.2009

 

 

Date of Incorporation :

27.09.1999

 

 

Com. Reg. No.:

RN-2000-22683 since 02/10/2000

 

 

Legal Form :

Sole-Member Limited Liability Company

 

 

Line of Business :

Wholesaler of furniture, rugs and lighting equipment

 

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 :

200.000 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

 

Company name & address 

 

Inox Mare s.r.l.

 

Via Pomposa,    51/I

 

47037 - Rimini (RN) -IT-

 

 

Summary

 

Fiscal Code

:

02980000232

Legal Form

:

Sole-Member Limited Liability Company

start of Activities

:

13/12/1999

Equity

:

Over 2.582.254 Eur

Turnover Range

:

20.000.000/25.000.000 Eur

Number of Employees

:

from 71 to 90

 

 

Credit Analysis

 

Credit Opinion

:

200.000 - Eur

 

 

Activity

 

Wholesale of furniture, rugs and lighting equipment

Wholesale of metals and metalliferous minerals

Retail sale of games and toys in specialised stores

 

Legal Data

 

Legal Form : Sole-Member Limited Liability Company

Fiscal Code : 02980000232

 

Foreign Trade Reg. no. : 043632 of Verona since 30/05/2000

 

Chamber of Commerce no. : 465405 of Bologna

 

Chamber of Commerce no. : 277754 of Rimini since 05/11/1999

 

Chamber of Commerce no. : 299505 of Verona since 05/11/1999

 

Firms' Register : RN-2000-22683 since 02/10/2000

 

Firms' Register : VR-1999-62074 since 19/11/1999

 

V.A.T. Code : 03155230406

 

Establishment date

: 27/09/1999

Start of Activities

: 13/12/1999

Legal duration

: 31/12/2100

Nominal Capital

: 26.000

Eur

Subscribed Capital

: 26.000

Eur

Paid up Capital

: 26.000

Eur

 

Members

 

 

S.c.a.r. Srl

 

 

 

 

 

 

Residence :

Via

Caduti Sul Lavoro

, 25

- 37012

Bussolengo

(VR)

- IT -

 

Position

Since

Shares Amount

% Ownership

Sole partner

27/09/1999

 

 

 

No Protests registered.

 

 

Gschnell

Helmut

 

 

 

Born in Caldaro sulla Strada del Vino

(BZ)

on 05/07/1944

- Fiscal Code : GSCHMT44L05B397Q

 

 

 

Residence :

Via

Tiro A Segno

, 31

- 39040

Termeno sulla Strada del Vino

(BZ)

- IT -

 

Position

Since

Shares Amount

% Ownership

Managing Director

25/10/2002

 

 

Director

27/09/1999

 

 

Board Chairman

27/09/1999

 

 

 

No Protests registered.

 

 

Steiner

Ulrich

 

 

 

Born in Bolzano

(BZ)

on 06/02/1965

- Fiscal Code : STNLCH65B06A952K

 

 

 

Residence :

Via

Tiro A Segno

, 31

- 39040

Termeno sulla Strada del Vino

(BZ)

- IT -

 

Position

Since

Shares Amount

% Ownership

Managing Director

25/10/2002

 

 

Director

27/09/1999

 

 

 

No Protests registered.

 

 

Tait

Luigi

 

 

 

Born in Bolzano

(BZ)

on 11/07/1957

- Fiscal Code : TTALGU57L11A952G

 

 

 

Residence :

Via

Don G.verita'

, 37

- 47039

Savignano sul Rubicone

(FO)

- IT -

 

Position

Since

Shares Amount

% Ownership

Director

14/12/2006

 

 

Attorney General

05/11/2002

 

 

 

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.

 

 

GSCHNELL

HELMUT

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

CASSA DI RISPARMIO DI BOLZANO S.P.A.

Bolzano (BZ) - IT -

00152980215

Director

Active

Registered

EUROVITI S.R.L.

Padova (PD) - IT -

02480890280

Director

Active

Registered

EUROVITI S.R.L.

Padova (PD) - IT -

02480890280

Managing Director

Active

Registered

EUROVITI S.R.L.

Padova (PD) - IT -

02480890280

Board Chairman

Active

Registered

F.I.M.E. S.R.L.

Belfiore (VR) - IT -

00799140231

Managing Director

Active

Registered

F.I.M.E. S.R.L.

Belfiore (VR) - IT -

00799140231

Board Chairman

Active

Registered

FINK S.R.L. - G.M.B.H.

Termeno sulla Strada del Vino (BZ) - IT -

01954940233

Director

Active

Registered

FINK S.R.L. - G.M.B.H.

Termeno sulla Strada del Vino (BZ) - IT -

01954940233

Powers by soc.contr.and by-laws

Active

Registered

GEIER - GABALIN SRL

Termeno sulla Strada del Vino (BZ) - IT -

00121050215

Board Chairman

Withdrawn

Registered

GLESSDOX SRL

Termeno sulla Strada del Vino (BZ) - IT -

02290660212

Managing Director

Active

Registered

GLESSDOX SRL

Termeno sulla Strada del Vino (BZ) - IT -

02290660212

Director

Active

Registered

GPA WIDE TECHNOLOGY S.P.A.

Milano (MI) - IT -

03201670100

Director

Active

Registered

GSCHNELL HELMUT

Termeno sulla Strada del Vino (BZ) - IT -

 

Proprietor

Withdrawn

Registered

GSCHNELL HELMUT

Termeno sulla Strada del Vino (BZ) - IT -

GSCHMT44L05B397Q

Proprietor

Active

Registered

HSR ITALIA S.R.L.

Bussolengo (VR) - IT -

03315430235

Director

Active

Registered

HSR ITALIA S.R.L.

Bussolengo (VR) - IT -

03315430235

Board Chairman

Active

Registered

MARBET MARION E BETTINA WUERTH SRL

Laives (BZ) - IT -

03274120231

Managing Director

Active

Registered

MARBET MARION E BETTINA WUERTH SRL

Laives (BZ) - IT -

03274120231

Director

Active

Registered

MASIDEF SRL

Caronno Pertusella (VA) - IT -

00819130154

Managing Director

Active

Registered

MASIDEF SRL

Caronno Pertusella (VA) - IT -

00819130154

Director

Active

Registered

MASIDEF SRL

Caronno Pertusella (VA) - IT -

00819130154

Board Chairman

Active

Registered

MODYF SRL % MODYF GMBH

Terlano (BZ) - IT -

01652980218

Board Chairman

Withdrawn

Registered

PIANETA S S.R.L. IN LIQUIDAZIONE

Bussolengo (VR) - IT -

03114870235

Director

Withdrawn

Registered

PIANETA S S.R.L. IN LIQUIDAZIONE

Bussolengo (VR) - IT -

03114870235

Board Chairman

Withdrawn

Registered

RECABE SRL

Egna (BZ) - IT -

00126720218

Managing Director

Active

Registered

RECABE SRL

Egna (BZ) - IT -

00126720218

Director

Active

Registered

RECABE SRL

Egna (BZ) - IT -

00126720218

Managing Director

Withdrawn

Registered

RECABE SRL

Egna (BZ) - IT -

00126720218

Board Chairman

Active

Registered

S.C.A.R. SRL

Bussolengo (VR) - IT -

00353240237

Director

Active

Registered

S.C.A.R. SRL

Bussolengo (VR) - IT -

00353240237

Managing Director

Active

Registered

S.C.A.R. SRL

Bussolengo (VR) - IT -

00353240237

Board Chairman

Withdrawn

Registered

SAFEPONT SRL

Termeno sulla Strada del Vino (BZ) - IT -

02330080215

Managing Director

Withdrawn

Registered

SAFEPONT SRL

Termeno sulla Strada del Vino (BZ) - IT -

02330080215

Board Chairman

Withdrawn

Registered

SIDERCRES S.R.L.

Bologna (BO) - IT -

01827291202

Director

Withdrawn

Ceased

SIDERCRES S.R.L.

Bologna (BO) - IT -

01827291202

Board Chairman

Withdrawn

Ceased

SO.FIM - S.R.L.

Arcole (VR) - IT -

02065460236

Managing Director

Active

Registered

SO.FIM - S.R.L.

Arcole (VR) - IT -

02065460236

Board Chairman

Withdrawn

Registered

SPINELLI SRL

Terlano (BZ) - IT -

00610540213

Director

Active

Registered

SPINELLI SRL

Terlano (BZ) - IT -

00610540213

Powers by soc.contr.and by-laws

Active

Registered

SPINELLI SRL

Terlano (BZ) - IT -

00610540213

Legal Owners' representative

Active

Registered

TUNAP ITALIA SRL

Terlano (BZ) - IT -

01666530215

Managing Director

Active

Registered

TUNAP ITALIA SRL

Terlano (BZ) - IT -

01666530215

Director

Active

Registered

UNIFIX SWG SRL

Terlano (BZ) - IT -

00605470210

Managing Director

Active

Registered

UNIFIX SWG SRL

Terlano (BZ) - IT -

00605470210

Board Chairman

Active

Registered

VITERIE VENETE SRL

Monselice (PD) - IT -

04011730282

Director

Active

Registered

VITERIE VENETE SRL

Monselice (PD) - IT -

04011730282

Managing Director

Active

Registered

VITERIE VENETE SRL

Monselice (PD) - IT -

04011730282

Board Chairman

Active

Registered

WEHR SRL

Bolzano (BZ) - IT -

02369140211

Director

Withdrawn

Ceased

WUERTH ELEKTRONIK ITALIA S.R.L.

Terlano (BZ) - IT -

01257400992

Director

Withdrawn

Registered

WUERTH ELEKTRONIK ITALIA S.R.L.

Terlano (BZ) - IT -

01257400992

Board Chairman

Active

Registered

WUERTH LEASING ITALIA SRL

Egna (BZ) - IT -

02368320210

Managing Director

Active

Registered

WUERTH LEASING ITALIA SRL

Egna (BZ) - IT -

02368320210

Director

Active

Registered

WUERTH PHOENIX SRL

Bolzano (BZ) - IT -

01054690217

Director

Active

Registered

WUERTH S.R.L. - G.M.B.H.

Egna (BZ) - IT -

00125230219

Managing Director

Withdrawn

Registered

WUERTH S.R.L. - G.M.B.H.

Egna (BZ) - IT -

00125230219

Director

Active

Registered

 

 

STEINER

ULRICH

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

INOX TIRRENICA SRL

Fiumicino (RM) - IT -

03806611004

Managing Director

Active

Registered

INOX TIRRENICA SRL

Fiumicino (RM) - IT -

03806611004

Assistant board Chairman

Active

Registered

SPINELLI SRL

Terlano (BZ) - IT -

00610540213

Director

Active

Registered

SPINELLI SRL

Terlano (BZ) - IT -

00610540213

Legal Owners' representative

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

S.c.a.r. Srl

Bussolengo - IT -

00353240237

 

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

Inox Tirrenica Srl

Fiumicino - IT -

03806611004

52.000 .Eur

100,00

 

 

Active

 

Firm's location and structure

 

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

 

-

Legal and operative seat

 

 

 

 

 

 

Via

Pomposa

, 51/I

- 47037

- Rimini

(RN)

- IT -

 

 

 

 

Total Surface: 22 Sq.mt.

 

 

 

 

PHONE

: 0541/794317

 

-

Branch

(Warehouse )

since 01/07/2007

 

 

 

 

 

Via

Cassoletta

, 20

- 40056

- Crespellano

(BO)

- IT -

 

 

 

 

Employees

: 74

 

Fittings and Equipment for a value of 760.000

Eur

 

Stocks for a value of 6.860.000

Eur

 

Trade organization: direct or by agents.

Sales converge to North and Central Italy.

 

Import comes generally from the following nations:

- Germania

 

 

Historical Information and/or Firm's Status

 

EX-MEMBERS / EX-POSITIONS:

 

 

Gschnell

Helmut

 

 

 

Born in Caldaro sulla Strada del Vino

on 05/07/1944

- Fiscal Code : GSCHMT44L05B397Q

 

 

 

Residence :

Via

Tiro A Segno

, 31

- 39040

Termeno sulla Strada del Vino

(BZ)

- IT -

 

Ex-Postions

Managing Director

Managing Director

Board Chairman

 

 

Hartmann

Karl

 

 

 

Born in Terlano

on 04/11/1927

- Fiscal Code : HRTKRL27S04L108K

 

 

 

Residence :

Via

Via Roen

, 21

- 39100

Bolzano

(BZ)

- IT -

 

Ex-Postions

Permanent Auditor

 

 

Seebacher

Anton

 

 

 

Born in Terlano

on 16/04/1935

- Fiscal Code : SBCNTN35D16L108T

 

 

 

Residence :

Via

Via Rio Molino

, 5

- 39100

Bolzano

(BZ)

- IT -

 

Ex-Postions

Permanent Auditor

 

 

Magnani

Roberto

 

 

 

Born in Reggio Emilia

on 24/03/1943

- Fiscal Code : MGNRRT43C24H223H

 

 

 

Residence :

Via

Casale

, 78/E

- 47826

Verucchio

(RN)

- IT -

 

Ex-Postions

Director

Managing Director

 

 

Sandrini

Stefan

 

 

 

Born in Bolzano

on 22/04/1959

- Fiscal Code : SNDSFN59D22A952N

 

 

 

Residence :

Via

Silberleiten

, 30

- 39018

Terlano

(BZ)

- IT -

 

Ex-Postions

Temporary Auditor

 

 

Holzeisen

Renate

 

 

Born in Bolzano

on 10/09/1966

- Fiscal Code : HLZRNT66P50A952M

 

 

 

Residence :

Via

Defregger

, 12

- 39100

Bolzano

(BZ)

- IT -

 

Ex-Postions

Temporary Auditor

 

 

Steiner

Ulrich

 

 

 

Born in Bolzano

on 06/02/1965

- Fiscal Code : STNLCH65B06A952K

 

 

 

Residence :

Via

Tiro A Segno

, 31

- 39040

Termeno sulla Strada del Vino

(BZ)

- IT -

 

Ex-Postions

Managing Director

 

 

SARACINO

PINUCCIO

 

 

 

Born in BOLZANO

on 12/02/1958

- Fiscal Code : SRCPCC58B12B397N

 

 

 

Residence :

Via

CAPRI

, 32/20

- 39100

Bolzano

(BZ)

- IT -

 

Ex-Postions

Managing Director

Director

Person in charge

Institor

Managing Director

 

 

HORST

SEEBACHER

 

 

 

Born in BOLZANO

on 09/02/1965

- Fiscal Code : HRSSCH65B09A952S

 

 

 

Residence :

Via

MOLINO

, 5

- 39100

Bolzano

(BZ)

- IT -

 

Ex-Postions

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.

 

Immovables *

 

*Subject to survey.

 

None reported in the name of the Firm.



Financial and Economical Analysis

 

Subject is active since 1999

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. -0,54%) In the last financial year a drop in sales has been registered (-29,72%).

The return on investment in the last financial year was negative (-2%).

The operating result is negative (Eur. -266.448).

The economic management produced a gross operating margin of Eur. 93.471 showing a drop (-94,45%).

From a financial aspect the company's status covers total short-term debts; the indebtedness volume in 2009 is in fact 0,5 and with an upward trend compared to the previous year.

It's shareholders funds amount to Eur. 8.490.241 , unchanged if compared to 2008.

Eur. 4.254.073 is the amount of total debts, both commercial and of different nature, , with a fall of -34,88%.

Bank exsposure is limited and the suppliers' credit is modest too, 53,79 gg. is the payment average period below the sector's average.

The management determines a good range of liquidity.

Accounts receivable average term is 57,8 days. , shorter than the sector's average.

Eur. 311.249 is the value of cash flow during the year 2009

Labour cost expenses amount to Eur. 2.378.995 , representing 10,27% on the total of production costs. , whereas the incidence on sales revenues is of 10,56%.

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

22.529.059

Profit (Loss) for the period

-46.270

 

 

 

Complete balance-sheet for the year

31/12/2008

(in Eur

x 1 )

 

Item Type

Value

Sales

32.057.932

Profit (Loss) for the period

982.385

 

 

 

Complete balance-sheet for the year

31/12/2007

(in Eur

x 1 )

 

Item Type

Value

Sales

39.850.400

Profit (Loss) for the period

2.322.173

 

 

 

Complete balance-sheet for the year

31/12/2006

(in Eur

x 1 )

 

Item Type

Value

Sales

28.698.652

Profit (Loss) for the period

1.980.000

 

 

 

Complete balance-sheet for the year

31/12/2005

(in Eur

x 1 )

 

Item Type

Value

Sales

22.366.532

Profit (Loss) for the period

934.652


Balance Sheets

From our constant monitoring of the relevant Public Administration offices, no more recent balance sheets result to have been filed.

 

- Balance Sheet as at 31/12/2009 - 12 Mesi - Currency: Eur - Amounts x 1

 

- Balance Sheet as at 31/12/2008 - 12 Mesi - Currency: Eur - Amounts x 1

 

- Balance Sheet as at 31/12/2007 - 12 Mesi - Currency: Eur - Amounts x 1

 

Years

2009

2008

2007

BALANCE SHEET ACCOUNTS

 

ASSETS

 

 

 

CREDITS VS PARTNERS

 

 

 

. Deposits not yet withdrawn

 

 

 

. Deposits already withdrawn

 

 

 

Total credits vs partners

 

 

 

FIXED ASSETS

 

 

 

. INTANGIBLE FIXED ASSETS

 

 

 

. . Start-up and expansion expenses

 

 

 

. . Research,develop. and advert.expens.

 

 

 

. . Industrial patent rights

 

 

 

. . Concessions,licenses,trademarks,etc.

2.738

12.173

19.301

. . Goodwill

 

 

 

. . Assets in formation and advance paymen.

 

 

 

. . Other intangible fixed assets

637.102

708.964

721.059

. Total Intangible Fixed Assets

639.840

721.137

740.360

. TANGIBLE FIXED ASSETS

 

 

 

. . Real estate

 

 

 

. . Plant and machinery

 

 

 

. . Industrial and commercial equipment

762.198

948.003

840.167

. . Other assets

200.698

231.103

262.932

. . Assets under construction and advances

 

 

60.090

. Total Tangible fixed assets

962.896

1.179.106

1.163.189

. FINANCIAL FIXED ASSETS

 

 

 

. . Equity investments

61.552

61.552

61.552

. . . Equity invest. in subsidiary companies

61.552

61.552

61.552

. . . Equity invest. in associated companies

 

 

 

. . . Equity invest. in holding companies

 

 

 

. . . Equity invest. in other companies

 

 

 

. . Financial receivables

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . . Receivab due from subsidiaries

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . . Receivables due from assoc.comp.

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . . Receivables due from holding comp.

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . . Receivables due from third parties

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Other securities

 

 

 

. . Own shares

 

 

 

. . . Total nominal value

 

 

 

. Total financial fixed assets

61.552

61.552

61.552

Total fixed assets

1.664.288

1.961.795

1.965.101

CURRENT ASSETS

 

 

 

. INVENTORIES

 

 

 

. . Raw materials and other consumables

 

 

 

. . Work in progress and semimanufactured

 

 

 

. . Work in progress on order

 

 

 

. . Finished goods

4.854.598

6.294.784

7.850.592

. . Advance payments

2.004.647

1.084.570

1.209.949

. Total Inventories

6.859.245

7.379.354

9.060.541

. CREDITS NOT HELD AS FIXED ASSETS

 

 

 

. . Within 12 months

4.564.473

5.972.823

7.888.606

. . Beyond 12 months

215.147

294.923

 

. . Trade receivables

3.617.455

4.768.050

6.136.166

. . . . Within 12 months

3.617.455

4.768.050

6.136.166

. . . . Beyond 12 months

 

 

 

. . Receivables due from subsid. comp.

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Receivables due from assoc. comp.

 

21.491

86.344

. . . . Within 12 months

 

21.491

86.344

. . . . Beyond 12 months

 

 

 

. . Receivables due from holding comp.

420.169

705.214

 

. . . . Within 12 months

420.169

705.214

 

. . . . Beyond 12 months

 

 

 

. . Fiscal Receivables

158.802

246.152

1.044.443

. . . . Within 12 months

158.802

246.152

1.044.443

. . . . Beyond 12 months

 

 

 

. . Receivables for anticipated taxes

436.792

516.513

611.256

. . . . Within 12 months

221.645

221.590

611.256

. . . . Beyond 12 months

215.147

294.923

 

. . Receivables due from third parties

146.402

10.326

10.397

. . . . Within 12 months

146.402

10.326

10.397

. . . . Beyond 12 months

 

 

 

. Total Credits not held as fixed assets

4.779.620

6.267.746

7.888.606

. 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

2.077

16.304

282.227

. . Checks

 

 

 

. . Banknotes and coins

2.309

27.136

774

. Total Liquid funds

4.386

43.440

283.001

Total current assets

11.643.251

13.690.540

17.232.148

ADJUSTMENT ACCOUNTS

 

 

 

. Discount on loans

 

 

 

. Other adjustment accounts

20.943

19.399

4.367

Total adjustments accounts

20.943

19.399

4.367

TOTAL ASSETS

13.328.482

15.671.734

19.201.616

 

 

 

 

LIABILITIES

 

 

 

STOCKHOLDERS' EQUITY

 

 

 

. Capital stock

26.000

26.000

26.000

. Additional paid-in capital

 

 

 

. Revaluation reserves

 

 

 

. Legal reserve

5.200

5.200

5.200

. Reserve for Own shares

 

 

 

. Statute reserves

 

 

 

. Other reserves

8.505.311

7.522.926

5.200.753

. Accumulated Profits (Losses)

 

 

 

. Profit( loss) of the year

-46.270

982.385

2.322.173

. Advances on dividends

 

 

 

. Partial loss of the year Coverage

 

 

 

Total Stockholders'Equity

8.490.241

8.536.511

7.554.126

RESERVES FOR RISKS AND CHARGES

 

 

 

. . Reserve for employee termination indem.

46.444

51.657

47.316

. . Taxation fund, also differed

75.000

270.000

250.000

. . Other funds

243.000

4.560

82.361

Total Reserves for Risks and Charges

364.444

326.217

379.677

Employee termination indemnities

141.955

187.237

441.353

ACCOUNTS PAYABLE

 

 

 

. . . . Within 12 months

4.254.073

6.533.457

10.765.395

. . . . Beyond 12 months

 

 

 

. . 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

3.589

 

 

. . . . Within 12 months

3.589

 

 

. . . . Beyond 12 months

 

 

 

. . Due to other providers of finance

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Advances from customers

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Trade payables

2.783.938

1.156.276

1.699.041

. . . . Within 12 months

2.783.938

1.156.276

1.699.041

. . . . Beyond 12 months

 

 

 

. . Securities issued

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Due to subsidiary companies

4.070

 

 

. . . . Within 12 months

4.070

 

 

. . . . Beyond 12 months

 

 

 

. . Due to associated companies

 

5.150.754

8.831.874

. . . . Within 12 months

 

5.150.754

8.831.874

. . . . Beyond 12 months

 

 

 

. . Due to holding companies

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Due to the tax authorities

56.420

61.197

81.668

. . . . Within 12 months

56.420

61.197

81.668

. . . . Beyond 12 months

 

 

 

. . Due to social security and welfare inst.

95.084

127.406

119.071

. . . . Within 12 months

95.084

127.406

119.071

. . . . Beyond 12 months

 

 

 

. . Other payables

1.310.972

37.824

33.741

. . . . Within 12 months

1.310.972

37.824

33.741

. . . . Beyond 12 months

 

 

 

Total accounts payable

4.254.073

6.533.457

10.765.395

ADJUSTMENT ACCOUNTS

 

 

 

. Agio on loans

 

 

 

. Other adjustment accounts

77.769

88.312

61.065

Total adjustment accounts

77.769

88.312

61.065

TOTAL LIABILITIES

13.328.482

15.671.734

19.201.616

 

 

 

 

 

 

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

22.529.059

32.057.932

39.850.400

. Changes in work in progress

 

 

 

. Changes in semi-manufact. products

 

 

 

. Capitalization of internal work

 

 

 

. Other income and revenues

360.205

428.632

151.448

. . Contributions for operating expenses

3.744

 

 

. . Different income and revenues

356.461

428.632

151.448

Total value of production

22.889.264

32.486.564

40.001.848

PRODUCTION COSTS

 

 

 

. Raw material,other materials and consum.

16.633.399

24.027.178

32.311.964

. Services received

1.787.903

2.257.133

2.534.657

. Leases and rentals

239.059

175.908

212.858

. Payroll and related costs

2.378.995

2.708.829

2.368.409

. . Wages and salaries

1.700.496

1.988.233

1.714.126

. . Social security contributions

541.778

575.170

510.979

. . Employee termination indemnities

136.721

145.426

143.304

. . Pension and similar

 

 

 

. . Other costs

 

 

 

. Amortization and depreciation

357.519

362.922

266.018

. . Amortization of intangible fixed assets

82.597

82.499

37.683

. . Amortization of tangible fixed assets

246.025

229.378

123.762

. . Depreciation of tangible fixed assets

 

 

 

. . Writedown of current receiv.and of liquid

28.897

51.045

104.573

. Changes in raw materials

1.440.186

1.555.808

-1.431.521

. Provisions to risk reserves

240.000

 

 

. Other provisions

 

 

 

. Other operating costs

78.651

74.718

53.318

Total production costs

23.155.712

31.162.496

36.315.703

Diff. between value and cost of product.

-266.448

1.324.068

3.686.145

FINANCIAL INCOME AND EXPENSE

 

 

 

. Income from equity investments

100.000

 

 

. . In subsidiary companies

 

 

 

. . In associated companies

 

 

 

. . In other companies

 

 

 

. Other financial income

289.559

650.987

754.165

. . Financ.income from receivables

 

 

 

. . . Towards subsidiary companies

 

 

 

. . . Towards associated companies

 

 

 

. . . Towards holding companies

 

 

 

. . . Towards other companies

 

 

 

. . Financ.income from secur. t.f.assets

 

 

 

. . Financ.income from secur. cur.assets

 

 

 

. . Financ.income other than the above

289.559

650.987

754.165

. . . - Subsidiary companies

 

 

 

. . . - Associated companies

 

 

 

. . . - Holding companies

 

 

 

. . . - Other companies

 

 

 

. Interest and other financial expense

-78.780

-335.352

-728.744

. . Towards subsidiary companies

 

 

 

. . Towards associated companies

 

 

 

. . Towards holding companies

 

 

 

. . Towards other companies

-26.273

 

 

Total financial income and expense

310.779

315.635

25.421

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

 

 

247.917

. . Gains on disposals

 

 

 

. . Other extraordinary income

 

 

247.917

. Extraordinary expense

 

-60.386

-3.589

. . Losses on disposals

 

 

-3.589

. . Taxes relating to prior years

 

 

 

. . Other extraordinary expense

 

-60.386

 

Total extraordinary income and expense

 

-60.386

244.328

Results before income taxes

44.331

1.579.317

3.955.894

. Taxes on current income

90.601

596.932

1.633.721

. . current taxes

10.880

502.189

1.356.060

. . differed taxes(anticip.)

-79.721

94.743

277.661

. Net income for the period

-46.270

982.385

2.322.173

. Adjustments in tax regulations pursuance

 

 

 

. Provisions in tax regulations pursuance

 

 

 

. Profit (loss) of the year

-46.270

982.385

2.322.173

 

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

0,12

0,13

0,10

0,08

Elasticity Ratio

Units

0,87

0,87

0,89

0,90

Availability of stock

Units

0,51

0,47

0,47

0,25

Total Liquidity Ratio

Units

0,36

0,40

0,42

0,58

Quick Ratio

Units

0,00

0,00

0,01

0,03

COMPOSITION ON SOURCE

 

 

 

 

 

Net Short-term indebtedness

Units

0,50

0,76

1,38

4,11

Self Financing Ratio

Units

0,64

0,54

0,39

0,15

Capital protection Ratio

Units

1,00

0,88

0,68

0,63

Liabilities consolidation quotient

Units

0,03

0,03

0,04

0,11

Financing

Units

0,50

0,77

1,42

5,04

Permanent Indebtedness Ratio

Units

0,65

0,56

0,41

0,28

M/L term Debts Ratio

Units

0,01

0,01

0,02

0,07

Net Financial Indebtedness Ratio

Units

0,00

0,00

0,00

1,02

CORRELATION

 

 

 

 

 

Fixed assets ratio

Units

5,19

4,45

4,06

2,89

Current ratio

Units

2,74

2,10

1,60

1,21

Acid Test Ratio-Liquidity Ratio

Units

1,12

0,97

0,75

0,85

Structure's primary quotient

Units

5,10

4,35

3,84

1,77

Treasury's primary quotient

Units

0,00

0,01

0,02

0,05

Rate of indebtedness ( Leverage )

%

156,99

183,58

254,18

634,84

Current Capital ( net )

Value

7.389.178

7.157.083

6.466.753

264.536

RETURN

 

 

 

 

 

Return on Sales

%

1,38

4,20

6,49

2,24

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

%

- 0,54

11,51

30,74

8,17

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

%

0,52

18,50

52,36

23,98

Return on Investment ( R.O.I. )

%

- 2,00

8,45

19,19

5,16

Return/ Sales

%

- 1,18

4,13

9,24

3,89

Extra Management revenues/charges incid.

%

n.c.

74,19

62,99

27,37

Cash Flow

Value

311.249

1.345.307

2.588.191

56.925

Operating Profit

Value

-266.448

1.324.068

3.686.145

96.744

Gross Operating Margin

Value

93.471

1.686.990

3.952.163

134.262

MANAGEMENT

 

 

 

 

 

Credits to clients average term

Days

57,80

53,54

56,19

121,35

Debts to suppliers average term

Days

53,79

85,81

108,10

142,27

Average stock waiting period

Days

109,61

82,87

81,82

65,23

Rate of capital employed return ( Turnover )

Units

1,69

2,05

2,07

1,37

Rate of stock return

Units

3,28

4,34

4,39

5,48

Labour cost incidence

%

10,56

8,45

5,94

8,02

Net financial revenues/ charges incidence

%

1,38

0,98

0,06

- 1,07

Labour cost on purchasing expenses

%

10,27

8,69

6,52

8,14

Short-term financing charges

%

1,85

5,13

6,76

2,47

Capital on hand

%

59,16

48,89

48,18

72,70

Sales pro employee

Value

304.446

416.336

594.782

416.252

Labour cost pro employee

Value

32.148

35.179

35.349

32.474

 

 

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:

 

200.000Eur.

 

 

Market / Territory Data

 

Population living in the province

:

286.796

Population living in the region

:

4.151.369

Number of families in the region

:

1.748.359

 

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

 

- per food products

:

425

- per non food products

:

2.063

- per energy consume

:

143

 

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 18.860 protested subjects are found; in the province they count to 2.270.

The insolvency index for the region is 0,46, , while for the province it is 0,81.

Total Bankrupt companies in the province : 749.

Total Bankrupt companies in the region : 14.698.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.74

UK Pound

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

 

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.