MIRA INFORM REPORT

Report Date :

14.03.2011

IDENTIFICATION DETAILS

Name :	SILINI PRESS AND HAMMER TRADE SRL

Registered Office :	Via Sessa , Snc, Sumirago 21040

Country :	Italy

Financials (as on) :	31.12.2009

Date of Incorporation :	07.09.2009

Legal Form :	Limited Liability Company

Line of Business :	Wholesale of machine tools

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Moderate

Payment Behaviour :	Slow

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)

Italy

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

Company Summary

Company Name	SILINI PRESS AND HAMMER TRADE SRL
Company Type	LIMITED LIABILITY COMPANY
Address	VIA SESSA , SNC
Town	SUMIRAGO
Post Code	21040
Telephone Number
Province	SUMIRAGO
Fiscal Code	02426490021
VAT Number	02426490021
Activity Start Date	7-9-2009
Incorporation Date	24-7-2009
Closure Date	31-12-2050
REA Inscription	323262 on the date of 31-7-2009
CCIAA province and number	VA 323262
Company Status	Active
Currency	EURO (€)

Credit Summary

Credit Limit

5.200 (Euro)

Capital Information

Paid up share capital	90.000
Authorised share capital	90.000
Subscribed share capital	90.000

Activity

SIC Code

5084

Business Activity

IN DATA 07/09/2009 E' INZIIATA L'ATTIVITA' DI COMMERCIO ALL'INGROSSO DI MACCHINARI E MACCHINE UTENSILI, DI MATERIALI FERROSI E NON FERROSI.

(DATED 07/09/2009 AND 'INZIIATA ACTIVITY' FOR WHOLESALE OF MACHINERY AND MACHINE TOOLS, ferrous and non ferrous metals.)

Financial Data

Date of Latest Accounts	31-12-2009
Turnover	7.000
Profit & Loss	16.509
Number of Employees	NaN

Business Activity and Financial Ratios

SIC Code	5084
Business Activity	IN DATA 07/09/2009 E' INZIIATA L'ATTIVITA' DI COMMERCIO ALL'INGROSSO DI MACCHINARI E MACCHINE UTENSILI, DI MATERIALI FERROSI E NON FERROSI.
Company Purpose	OGGETTO SOCIALE: LA SOCIETA' HA PER OGGETTO: - IL COMMERCIO, L'IMPORTAZIONE, L'ESPORTAZIONE ED IL TRASPORTO DI MACCHINARI E MACCHINE UTENSILI, DI MATERIALI FERROSI E NON FERROSI (OBJECT NAME: COMPANY 'covers: - TRADE, IMPORT, EXPORT AND TRANSPORT OF MACHINERY AND MACHINE TOOLS, OF FERROUS AND NON FERROUS)
Ateco Code	46.62
Ateco Description	COMMERCIO ALL'INGROSSO DI MACCHINE UTENSILI (INCLUSE LE RELATIVE PARTI INTERCAMBIABILI) (Wholesale of machine tools (including their interchangeable parts))
SAE Code	430
RAE Code	614
Number of Employees	NaN
Paid up share capital	90.000 (EURO)
Date of Latest Accounts	31-12-2009

Key Financial Items
Turnover	7.000
Profit & Loss	16.509
Shareholders Equity	106.510
Fixed Assets	562.433

Balance Sheet

(Assets)

Date	31-12-2009	31-12-2008	31-12-2007
DUE FROM SHAREHOLDERS FOR SUBSCRIBED SHARE CAPITAL UNPAID	0
Total Fixed Assets	562.433
- Intangible assets	4.321
- Tangible assets	558.112
- - Land and Buildings	0
- Financial assets	0
- - Amounts owed by assoc./affiliated co.s	0
- - Holdings	0
- - Treasury stocks	0

Total Current Assets	681.873
- Stocks	153.000
- - Semi-finished products & Raw materials
- - Work-in-progress
- Credits	483.264
- - Short-term debtors	483.264
- - Trade debtors	0
- - Short-term trade debtors	0
- Financial assets	0
- - Treasury stocks	0
- Cash and bank	45.609
Prepayments & Accrued Income	127.153
Total Assets	1.371.459

Liabilities

SHAREHOLDERS' EQUITY	106.510
- Share capital	90.000
- Share premium reserve	0
- Revaluation reserve	0
PROVISIONS FOR RISKS & CHARGES	0
- Provisions for taxation	0
PROVISION FOR SEVERANCE INDEMNITY	0
CREDITORS	1.264.949
- Short-term creditors	382.020
- Trade creditors	286.183
- Amounts due to banks - short term	0
- Amounts due to banks - medium/long-term	34
- Accrued expenses and deferred income
PREPAYMENTS & ACCRUED INCOME	0
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY	1.371.459
MEMORANDUM ACCOUNTS	0
ACCUMULATED DEPRECIATION OF TANGIBLE ASSETS	13.188

Profit & Loss

PRODUCTION VALUE	7.000
- Revenues	7.000
- TOTAL CHANGES	-
- Change in stocks of finished goods & work in progress
- Change in stocks of finished goods & work in progress	-
- Other revenues	-
PRODUCTION COSTS	55.538
- Purchase of raw materials & goods	159.149
- Change in materials	-153.000
CONSUMPTION OF MATERIALS	6.149
OVERHEADS	32.591
- Provisions for risks & other	-
VALUE ADDED	-31.740
STAFF COST	3.110
- Provision for severance indemnity	121
G.O.M.	-34.850
AMORT./DEPREC/WRITED. OF FIXED ASSETS	13.612
- Amortisation / depreciation / writedowns	13.612
- Amortisation of intangible assets	424
- Depreciation of tangible assets	13.188
PROFIT / (LOSS) FROM ORDINARY OPERATING ACTIVITIES	-48.462
OTHER INCOME / CHARGES	-70
- Interest receivable & similar income	6
OPERATING PROFIT / (LOSS)	-48.532
FINANCIAL CHARGES	5.318
PROFIT / (LOSS) BEFORE EXTRAORDINARY OP.S	-53.850
ADJUSTMENTS TO VALUE OF FINANCIAL ASSETS (+-)	-
EXTRAORDINARY INCOME/CHARGES (+-)	-
PROFIT / (LOSS) BEFORE TAXATION	-53.850
TAXATION	-70.359
PROFIT (LOSS) FOR THE PERIOD	16.509
CASH FLOW	30.121
EMPLOYEES

Ratios

Date	2009
Returns Ratios
R.O.E. (Return On Equity)	15.5
R.O.I. (Return On Investment)	-3.53
R.O.S. (Return On Sales)	-693.4
R.O.A. (Return On Assests)	-3.54
G.O.M on Returns	-497.86
Turnover Ratio
Invested Capital Turnover	0.51
Current Assets Turnover	1.03
Warehouse Turnover	4.58
Equity and Financial Ratios
Fixed Assets Cover	18.94
Banks on Current Assets	0.01
Short-term Banks on Current Assets	0.01
Gearing	92.23
Shareholders' Equity / Invested Capital	7.77
Financial Charges on Turnover	75.97
Financial Charges on G.O.M.	-15.26
Productivity Ratios
Turnover per Employee	0
Operating Value Added per Employee	0
Labour Cost per Employee	0
Labour Cost on Turnover	44.43
Value Added on Turnover	-453.43
Liquidity Ratios
Current Ratio	211.78
Acid-Test Ratio	171.73
Days of Credit to Customers or Duration of Amounts owed by Customers	0
Days of Credit from Suppliers or Duration of Amounts owed to Suppliers	537.32
Days of Stocks or Duration of Stocks	7868.57
Rate of intensity of Current Assets	11557.51
Incidence Ratios for Cost
Consumption of Materials on Costs	11.07
External Costs on Costs	69.75
Labour Costs on Costs	5.6
Depreciation and Devaluation on Costs	24.51

Protested Bills

Body	Don't Exist	Possible Match	Exact Match
SILINI PRESS AND HAMMER TRADE SRL


PAOLO SILINI (executive)

Directors Information

Power of Statute (board)	L'ORGANO AMMINISTRATIVO HA TUTTI I POTERI DI ORDINARIA E STRAORDINARIA AMMINISTRAZIONE. L'AMMINISTRATORE UNICO, SE NOMINATO, INVECE, SALVO QUANTO QUI DI SEGUITO INDICATO, E' INVESTITO DEI PIU' AMPI P...
Type	Executive
Forename	PAOLO
Surname	SILINI
Date of Birth	9-5-1982
Gender	Male
Place of Birth	BUSTO ARSIZIO (VA)
Resident Address	LOC GAGGINI 21010 - GOLASECCA (VA)
Director Fiscal Code	SLNPLA82E09B300S
MANAGING DIRECTOR since	24-7-2009

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.45.21
UK Pound	1	Rs.72.55
Euro	1	Rs.62.43

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.