MIRA
INFORM REPORT
|
Report Date : |
04.03.2011 |
IDENTIFICATION DETAILS
|
Name : |
NARDI CLAUDIO
S.R.L. |
|
|
|
|
Registered Office : |
Via 36071 Arzignano (VI) |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2009 |
|
|
|
|
Date of Incorporation : |
03.01.1983 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Preparation and tanning of leather; dressing and dyeing |
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 : |
160.000 - Eur |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
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 – December 31, 2010
|
Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
|
|
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
Nardi Claudio
S.r.l.
Via
36071 - Arzignano (VI) -IT-
Summary
|
Fiscal Code |
: |
01522590247 |
|
Legal Form |
: |
Limited liability company |
|
start of Activities |
: |
03/01/1983 |
|
Equity |
: |
2.500.000 Eur |
|
|
: |
6.500.000/7.750.000 Eur |
|
Number of Employees |
: |
from 11 to 15 |
Credit Analysis
|
Credit Opinion |
: |
160.000 - Eur |
Activity
Preparation and tanning of leather; dressing and dyeing of fur
Legal Data
Legal Form : Limited liability company
|
Fiscal Code : 01522590247 |
|
Foreign Trade Reg. no. : VI010368 since 12/12/1991 |
|
Foreign Trade Reg. no. : 10368 of |
|
Chamber of Commerce no. : 169849 of |
|
Firms' Register : VI116-14521 |
|
V.A.T. Code : 01522590247 |
|
Tribunal Co. Register : 1452183 of |
|
Foundation date |
: 03/01/1983 |
|
|
Establishment date |
: 03/01/1983 |
|
|
Start of Activities |
: 03/01/1983 |
|
|
Legal duration |
: 31/12/2050 |
|
|
Nominal Capital |
: 800.000 |
Eur |
|
Subscribed Capital |
: 800.000 |
Eur |
|
Paid up Capital |
: 800.000 |
Eur |
Members
|
|
Nardi |
Claudio |
|
|
|
Born in Chiampo |
(VI) |
on 03/10/1952 |
- Fiscal Code : NRDCLD52R03C605J |
|
|
|
Residence : |
Via |
Righetto |
, 1 |
- 36072 |
Chiampo |
(VI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
10/02/2009 |
|
|
|
Managing Director |
10/02/2009 |
|
|
|
Board Chairman |
10/02/2009 |
|
|
|
|
No Protests registered |
|
|
Cavazza |
Gina |
|
|
|
Born in San Giovanni Ilarione |
(VR) |
on 06/09/1960 |
- Fiscal Code : CVZGNI60P46H916I |
|
|
|
Residence : |
Via |
Righetto |
, 2 |
- 36072 |
Chiampo |
(VI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
10/02/2009 |
|
|
|
Managing Director |
10/02/2009 |
|
|
|
|
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.
|
|
NARDI |
CLAUDIO |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
BY SYSTEM S.R.L. |
Chiampo (VI) - IT - |
00886430248 |
Managing
Director |
Active |
Registered |
|
ENNEDUE S.R.L. |
Chiampo (VI) - IT - |
02511310241 |
Vice-Chairman |
Withdrawn |
Registered |
|
ENNEDUE S.R.L. |
Chiampo (VI) - IT - |
02511310241 |
Director |
Active |
Registered |
|
ENNEDUE S.R.L. |
Chiampo (VI) - IT - |
02511310241 |
Assistant board
Chairman |
Active |
Registered |
|
I.P.I. S.R.L. |
Montecchio Maggiore (VI) - IT - |
04905850154 |
Sole Director |
Active |
Registered |
|
SICHIROLLO SOCIETA' A RESPONSABILITA' LIMITATA |
Montecchio Maggiore (VI) - IT - |
00169740297 |
Managing
Director |
Active |
Registered |
|
SICHIROLLO SOCIETA' A RESPONSABILITA' LIMITATA |
Montecchio Maggiore (VI) - IT - |
00169740297 |
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 |
|
Nardi Claudio |
Chiampo - IT - |
NRDCLD52R03C605J |
760.000 .Eur |
95,00 |
|
Cavazza Gina |
Chiampo - IT - |
CVZGNI60P46H916I |
40.000 .Eur |
5,00 |
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 |
|
Utiac Spa |
Arzignano - IT - |
02934120243 |
5.750 .Eur |
0,33 |
|
|
Active |
Firm's location and structure
In order to carry out its activities the firm uses the following
locations:
|
- |
Legal and operative seat |
|
since 24/07/1992 |
|
|
|
|
|
Via |
|
, 2 |
- 36071 |
- Arzignano |
(VI) |
- IT - |
|
|
|
|
PHONE |
: 0444/623105 |
|
|
|
|
PHONE |
: 0444/450431 |
|
|
|
|
FAX |
: 0444/451536 |
|
- |
Branch |
(Store ) |
since 10/02/2009 |
|
|
|
|
|
Via |
Lungochiampo |
, 23 |
- 36054 |
- |
(VI) |
- IT - |
|
|
|
|
Employees |
: 15 |
|
Fittings and Equipment for a value of 180.000 |
Eur |
|
Stocks for a value of 1.920.000 |
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 |
Import comes generally from the following nations:
|
- Francia |
Export is mainly towards:
|
- Francia |
Historical Information and/or Firm's Status
COMPANY STYLE MODIFICATIONS:
|
Former Style |
New Style |
Changement Date |
|
|
|
24/07/1992 |
EX-MEMBERS / EX-POSITIONS:
|
|
Nardi |
Claudio |
|
|
|
Born in Chiampo |
on 03/10/1952 |
- Fiscal Code : NRDCLD52R03C605J |
|
|
|
Residence : |
Via |
Righetto |
, 1 |
- 36072 |
Chiampo |
(VI) |
- IT - |
|
Ex-Postions |
|
Sole Director |
|
|
Pasquali |
Egisto |
|
|
|
Born in Rieti |
on 01/08/1928 |
- Fiscal Code : PSQGST28M01H282Q |
|
|
|
Residence : |
Via |
ROMA |
- 36050 |
Gambugliano |
(VI) |
- IT - |
|
Ex-Postions |
|
Permanent Auditor |
|
|
Rizzo |
Cesare |
|
|
|
Born in |
on 19/04/1970 |
- Fiscal Code : RZZCSR70D19L840M |
|
|
|
Residence : |
Via |
Mollino |
, 75 |
- 36100 |
|
(VI) |
- IT - |
|
Ex-Postions |
|
Temporary Auditor |
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 |
3.747.160 - 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 1983
Balance sheets for the years 2007, 2008 and 2009 were analyzed.
Under an economic point of view, profits were registered during the last
years with a r.o.e. of 1,86% in 2009 and with an upward trend in turnover trend
during the last financial year (+21,15% in 2009).
The operating result in 2009 was positive (2,82%) falling within the
field's average.
The operating result is positive and amounts to Eur. 278.914 , with no
sizeable change as opposed to the year before.
The gross operating margin of the latest financial year is of Eur.
430.964 with no sensible increase as against 2008.
The analysis shows a fair financial position as the indebtedness volume
is acceptable (2,55) even though on the increase if compared to 2008.
The management generated equity capital for an amount of Eur. 2.283.984
, stable in comparison with the value of the previous year.
Total debts recorded amounted to Eur. 6.703.027 (Eur. 866.833 of which
were m/l term debts) , showing an upward trend if compared to 2008.
Both financial indebtedness as well as exsposure to suplliers are rated
as fairly high even in comparison with the sector's.
Even liquidity range appears to be not completely sufficient.
Trade credits average terms are slow, on average 170,87 days. even
higher than the average of the specific sector.
During financial year 2009 the cash flow amounted to Eur. 194.623
Subordinate employment cost is of Eur. 552.435, i.e. 7,4% on total
production costs. , whereas 7,75% is the incidence on sales revenues.
High incidence of financial charges on turnover.
Financial Data
|
|
|
Complete balance-sheet for the year |
31/12/2009 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
7.131.654 |
|
Profit (Loss) for the period |
42.573 |
|
|
|
Complete balance-sheet for the year |
31/12/2008 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
5.886.147 |
|
Profit (Loss) for the period |
15.355 |
|
|
|
Complete balance-sheet for the year |
31/12/2007 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
7.050.930 |
|
Profit (Loss) for the period |
3.292 |
|
|
|
Complete balance-sheet for the year |
31/12/2006 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
7.665.193 |
|
Profit (Loss) for the period |
19.433 |
|
|
|
Complete balance-sheet for the year |
31/12/2005 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
7.273.460 |
|
Profit (Loss) for the period |
30.977 |
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 |
0,44 |
0,55 |
0,38 |
0,14 |
|
Elasticity Ratio |
Units |
0,56 |
0,45 |
0,61 |
0,83 |
|
Availability of stock |
Units |
0,19 |
0,16 |
0,23 |
0,21 |
|
Total Liquidity Ratio |
Units |
0,36 |
0,28 |
0,37 |
0,56 |
|
Quick Ratio |
Units |
0,00 |
0,00 |
0,00 |
0,03 |
|
COMPOSITION ON
SOURCE |
|
|
|
|
|
|
Net Short-term indebtedness |
Units |
2,55 |
1,72 |
5,12 |
3,31 |
|
Self Financing Ratio |
Units |
0,23 |
0,28 |
0,12 |
0,18 |
|
Capital protection Ratio |
Units |
0,63 |
0,64 |
- 0,07 |
0,62 |
|
Liabilities consolidation quotient |
Units |
0,18 |
0,31 |
0,38 |
0,17 |
|
Financing |
Units |
2,93 |
2,19 |
6,93 |
3,98 |
|
Permanent Indebtedness Ratio |
Units |
0,34 |
0,43 |
0,36 |
0,34 |
|
M/L term Debts Ratio |
Units |
0,11 |
0,15 |
0,24 |
0,10 |
|
Net Financial Indebtedness Ratio |
Units |
1,69 |
1,41 |
4,65 |
1,45 |
|
CORRELATION |
|
|
|
|
|
|
Fixed assets ratio |
Units |
0,76 |
0,78 |
0,94 |
2,23 |
|
Current ratio |
Units |
0,94 |
0,93 |
0,98 |
1,21 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
0,61 |
0,59 |
0,60 |
0,85 |
|
Structure's primary quotient |
Units |
0,52 |
0,50 |
0,31 |
1,24 |
|
Treasury's primary quotient |
Units |
0,00 |
0,00 |
0,00 |
0,05 |
|
Rate of indebtedness ( Leverage ) |
% |
432,73 |
358,89 |
820,83 |
526,53 |
|
Current Capital ( net ) |
Value |
-335.898 |
-259.808 |
-74.947 |
326.620 |
|
RETURN |
|
|
|
|
|
|
Return on Sales |
% |
2,73 |
3,02 |
2,11 |
2,36 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
1,86 |
0,69 |
0,44 |
5,04 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
3,97 |
3,85 |
5,94 |
17,86 |
|
Return on Investment ( R.O.I. ) |
% |
2,82 |
3,69 |
4,03 |
4,92 |
|
Return/ Sales |
% |
3,91 |
5,04 |
3,50 |
3,91 |
|
Extra Management revenues/charges incid. |
% |
15,26 |
5,18 |
1,33 |
19,81 |
|
Cash Flow |
Value |
194.623 |
178.050 |
148.984 |
81.195 |
|
Operating Profit |
Value |
278.914 |
296.628 |
247.483 |
131.685 |
|
Gross Operating Margin |
Value |
430.964 |
459.323 |
393.175 |
196.955 |
|
MANAGEMENT |
|
|
|
|
|
|
Credits to clients average term |
Days |
170,87 |
134,71 |
110,80 |
112,01 |
|
Debts to suppliers average term |
Days |
151,08 |
121,54 |
90,00 |
123,48 |
|
Average stock waiting period |
Days |
96,92 |
80,12 |
73,18 |
54,00 |
|
Rate of capital employed return ( Turnover ) |
Units |
0,72 |
0,73 |
1,14 |
1,37 |
|
Rate of stock return |
Units |
3,71 |
4,49 |
4,91 |
6,65 |
|
Labour cost incidence |
% |
7,75 |
8,82 |
6,97 |
11,47 |
|
Net financial revenues/ charges incidence |
% |
- 2,48 |
- 3,92 |
- 3,33 |
- 1,49 |
|
Labour cost on purchasing expenses |
% |
7,40 |
9,49 |
7,02 |
11,57 |
|
Short-term financing charges |
% |
2,64 |
4,70 |
4,54 |
3,05 |
|
Capital on hand |
% |
138,58 |
136,67 |
86,97 |
72,91 |
|
Sales pro employee |
Value |
475.443 |
392.409 |
503.637 |
284.275 |
|
Labour cost pro employee |
Value |
36.829 |
34.597 |
35.134 |
32.243 |
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:
160.000 Eur.
Market / Territory Data
|
Population living in the province |
: |
831.356 |
|
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 923 significant companies.
The companies cash their credits on an average of 112 dd.
The average duration of suppliers debts is about 123 dd.
The sector's profitability is on an average of 2,36%.
The labour cost affects the turnover in the measure of 11,47%.
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 1,37.
The employees costs represent the 11,57% of the production costs.
Statistical Detrimental Data
The area is statistically considered lowly risky.
In the region 13.782 protested subjects are found; in the province they
count to 2.234.
The insolvency index for the region is 0,30, , while for the province it
is 0,27.
Total Bankrupt companies in the province : 2.546.
Total Bankrupt companies in the region : 16.714.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.96 |
|
|
1 |
Rs.73.37 |
|
Euro |
1 |
Rs.62.33 |
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.