MIRA
INFORM REPORT
|
Report Date : |
17.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
EURO GEMS S.R.L. |
|
|
|
|
Registered Office : |
Via Cappuccini,4 20100- Milano (MI) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2009 |
|
|
|
|
Date of Incorporation : |
10.06.2002 |
|
|
|
|
Legal Form : |
Sole-Member Limited Liability Company |
|
|
|
|
Line of Business : |
Wholesale of clocks, watches and jewellery |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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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 – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
|
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
Euro Gems S.r.l.
Via Cappuccini,4
20100- Milano (MI)-IT-
Summary
|
Fiscal Code |
: |
12870180150 |
|
Legal Form |
: |
Sole-Member Limited Liability Company |
|
start of Activities |
: |
10/06/2002 |
|
Equity |
: |
400.000 Eur |
|
Turnover Range |
: |
2.250.000/3.000.000 Eur |
|
Number of Employees |
: |
fom 6 to 10 |
Activity
Wholesale of clocks, watches and jewellery
Legal Data
Legal Form : Sole-Member Limited Liability Company
|
Fiscal Code : 12870180150 |
|
Foreign Trade Reg. no. : MI331997 since 27/03/2003 |
|
Chamber of Commerce no. : 226253 of Alessandria
|
|
Chamber of Commerce no. : 1591328 of Milano
since 26/07/1999 |
|
V.A.T. Code : 12870180150 |
|
Establishment date |
: 23/06/1999 |
|
|
Start of Activities |
: 10/06/2002 |
|
|
Legal duration |
: 31/12/2050 |
|
|
Nominal Capital |
: 100.000 |
Eur |
|
Subscribed Capital |
: 100.000 |
Eur |
|
Paid up Capital |
: 100.000 |
Eur |
Members
|
|
Agarwal |
Mahendra Kumar |
|
|
|
Born in Jaipur |
on 12/12/1961 |
- Fiscal Code : GRWMND61T12Z222G |
|
|
|
Residence : |
Bramampuri Khura 27 |
Jaipur |
- IN - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
22/05/2008 |
|
|
|
Board Chairman |
22/05/2008 |
|
|
|
|
No Protests registered |
|
|
Corino |
Vittorina |
|
|
|
Born in Alessandria |
(AL) |
on 14/08/1962 |
- Fiscal Code : CRNVTR62M54A182A |
|
|
|
Residence : |
Via |
Garibaldi |
, 30 |
- 15044 |
Quargnento |
(AL) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
22/05/2008 |
|
|
|
|
No Protests registered |
|
|
Agrawal |
Pushpendra |
|
|
|
Born in Jaipur |
on 19/08/1985 |
- Fiscal Code : GRWPHP85M19Z222U |
|
|
|
Residence : |
P36 Govind Takh Te
Shai Road |
Jaipur |
- IN - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
26/05/2009 |
|
|
|
Sole partner |
|
|
|
|
|
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 |
|
Agrawal Pushpendra |
Jaipur - IN - |
GRWPHP85M19Z222U |
|
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 |
|
Il Tari'- Societa'
Consortile Per Azioni |
Marcianise - IT - |
05825080632 |
14.094 .Eur |
0,36 |
|
|
Active |
Firm's location and structure
In order to carry out its activities the firm uses the following
locations:
|
- |
Registered office |
|
|
|
|
|
Via |
Cappuccini |
, 4 |
- 20100 |
- Milano |
(MI) |
- IT - |
|
|
|
|
PHONE |
: 02/76003326 |
|
- |
Operative seat |
since 10/06/2002 |
|
|
|
|
|
Via |
Delle Asole - P.zza S. M. Beltrame |
, 1 |
- 20100 |
- Milano |
(MI) |
- IT - |
|
- |
Branch |
(Sales office ) |
since 30/08/2005 |
|
|
|
|
|
Via |
Repubblica |
, 4/H |
- 15048 |
- Valenza |
(AL) |
- IT - |
|
|
|
|
Employees |
: 6 |
|
Fittings and Equipment for a value of 3.000 |
Eur |
|
Stocks for a value of 1.980.000 |
Eur |
|
|
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 |
22/05/2008 |
COMPANY STYLE MODIFICATIONS:
|
Former Style |
New Style |
Changement Date |
|
EURO GEMS SAS DI DILIP KUMAR DAMAMI |
EURO GEMS S.A.S. DI AGARWAL MAHENDRA KUMAR |
29/11/2004 |
|
EURO GEMS S.A.S. DI AGARWAL MAHENDRA KUMAR |
EURO GEMS S.R.L. |
11/06/2008 |
EX-MEMBERS / EX-POSITIONS:
|
|
Agarwal |
Ritesh |
|
|
|
Born in Jaipur |
on 01/05/1982 |
- Fiscal Code : GRWRSH82E01Z222B |
|
|
|
Residence : |
36, Shai Road |
Jaipur |
- IN - |
|
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.
Financial and Economical Analysis
Company's starting of activities dates back to 2002.
On the base of the latest 2 financial accounts, an economic-financial
analysis has been developped.
During the last years, it recorded positive net results (r.o.e. 10,61% in 2009) with an increase in 2009 (+57,29%).
The return on Investment in the last financial year was positive (2,3%)
falling within the field's average.
The amount of the operating result is equal to Eur.
91.527 rising (+more then 100%) in relation to the previous year.
The gross operating margin of the latest financial year is of Eur. 125.312 showing an upward trend if compared to 2008.
Short-term debts volume if compared to net worth, as it comes out from
the total indebtedness (11,53) which tends downward.
The management generated equity capital for an amount of Eur. 310.089 , stable in comparison with the value of the
previous year.
Total indebtedness totalled Eur. 3.612.567, showing a stable trend as opposed to 2008 (Eur. 3.278.565).
Both financial indebtedness as well as exsposure
to suplliers are rated as fairly high even in
comparison with the sector's.
Neverthless available funds are good.
Accounts receivable average term is high (220,96 days). besides being
higher than the sector's average.
Eur. 66.696 is the value of cash flow during
the year 2009
In the last financial year labour cost was of Eur. 106.554, with a 3,98% incidence on total costs of
production. , whereas the incidence of such costs on sales revenues is equal to
3,85%.
Finacial chareges are
high: the incidence on sales volume amounts to -1,84%
Financial Data
|
|
|
Complete balance-sheet for the year |
31/12/2009 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
2.768.845 |
|
Profit (Loss) for the period |
32.911 |
|
|
|
Complete balance-sheet for the year |
31/12/2008 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
1.760.337 |
|
Profit (Loss) for the period |
13.316 |
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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|
RATIOS |
Value Type |
as at 31/12/2009 |
as at 31/12/2008 |
Sector Average |
|
COMPOSITION ON
INVESTMENT |
|
|
|
|
|
Rigidity Ratio |
Units |
0,03 |
0,03 |
0,08 |
|
Elasticity Ratio |
Units |
0,95 |
0,95 |
0,90 |
|
Availability of stock |
Units |
0,50 |
0,39 |
0,25 |
|
Total Liquidity Ratio |
Units |
0,46 |
0,56 |
0,58 |
|
Quick Ratio |
Units |
0,01 |
0,00 |
0,03 |
|
COMPOSITION ON
SOURCE |
|
|
|
|
|
Net Short-term indebtedness |
Units |
11,53 |
11,77 |
4,11 |
|
Self Financing Ratio |
Units |
0,08 |
0,08 |
0,15 |
|
Capital protection Ratio |
Units |
0,57 |
0,59 |
0,63 |
|
Liabilities consolidation quotient |
Units |
0,01 |
0,00 |
0,11 |
|
Financing |
Units |
11,65 |
11,83 |
5,04 |
|
Permanent Indebtedness Ratio |
Units |
0,08 |
0,08 |
0,28 |
|
M/L term Debts Ratio |
Units |
0,01 |
0,00 |
0,07 |
|
Net Financial Indebtedness Ratio |
Units |
1,13 |
1,71 |
1,02 |
|
CORRELATION |
|
|
|
|
|
Fixed assets ratio |
Units |
2,98 |
3,20 |
2,89 |
|
Current ratio |
Units |
1,05 |
1,03 |
1,21 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
0,50 |
0,61 |
0,85 |
|
Structure's primary quotient |
Units |
2,80 |
3,04 |
1,77 |
|
Treasury's primary quotient |
Units |
0,01 |
0,01 |
0,05 |
|
Rate of indebtedness ( Leverage ) |
% |
1.281,17 |
1.287,87 |
634,84 |
|
Current Capital ( net ) |
Value |
178.603 |
108.371 |
264.536 |
|
RETURN |
|
|
|
|
|
Return on Sales |
% |
2,41 |
1,60 |
2,24 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
10,61 |
4,80 |
8,17 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
13,10 |
9,46 |
23,98 |
|
Return on Investment ( R.O.I. ) |
% |
2,30 |
- 0,24 |
5,16 |
|
Return/ Sales |
% |
3,31 |
- 0,49 |
3,89 |
|
Extra Management revenues/charges incid. |
% |
35,96 |
n.c. |
27,37 |
|
Cash Flow |
Value |
66.696 |
28.194 |
56.925 |
|
Operating Profit |
Value |
91.527 |
-8.612 |
96.744 |
|
Gross Operating Margin |
Value |
125.312 |
6.266 |
134.262 |
|
MANAGEMENT |
|
|
|
|
|
Credits to clients average term |
Days |
220,96 |
392,95 |
121,35 |
|
Debts to suppliers average term |
Days |
365,75 |
599,67 |
142,27 |
|
Average stock waiting period |
Days |
257,76 |
285,13 |
65,23 |
|
Rate of capital employed return ( Turnover ) |
Units |
0,70 |
0,49 |
1,37 |
|
Rate of stock return |
Units |
1,40 |
1,26 |
5,48 |
|
Labour cost incidence |
% |
3,85 |
2,74 |
8,02 |
|
Net financial revenues/ charges incidence |
% |
- 1,84 |
1,98 |
- 1,07 |
|
Labour cost on purchasing expenses |
% |
3,98 |
2,72 |
8,14 |
|
Short-term financing charges |
% |
1,41 |
n.c. |
2,47 |
|
Capital on hand |
% |
143,48 |
202,78 |
72,70 |
|
Sales pro employee |
Value |
922.948 |
1.760.337 |
416.252 |
|
Labour cost pro employee |
Value |
35.518 |
48.151 |
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:
10.000 Eur.
Market / Territory Data
|
Population living in the province |
: |
3.839.216 |
|
Population living in the region |
: |
9.393.092 |
|
Number of families in the region |
: |
3.858.736 |
Monthly family expences 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 lowly risky.
In the region 50.886 protested subjects are found; in the province they
count to 24.765.
The insolvency index for the region is 0,55, , while for the province it
is 0,66.
Total Bankrupt companies in the province : 22.523.
Total Bankrupt companies in the region : 39.612.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.90 |
|
|
1 |
Rs.72.54 |
|
Euro |
1 |
Rs.63.39 |
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%)
This report is issued at your request without any risk
and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its
officials.