MIRA
INFORM REPORT
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Report Date : |
06.05.2011 |
IDENTIFICATION DETAILS
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Name : |
RIACETECH S.R.L.
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Registered Office : |
Localita' Pratantico, 94/H 52100 - |
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Country : |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
04.01.2007 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Electrical installation in buildings or in other constructions (
including maintenance and repair) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
15.000 - Eur |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 – December 31, 2010
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Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Name and address
Riacetech S.r.l.
Localita'
Pratantico, 94/H
52100 -
Summary
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Fiscal Code |
: |
01896610514 |
|
Legal Form |
: |
Limited liability company |
|
start of Activities |
: |
04/01/2007 |
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Equity |
: |
65.000 Eur |
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|
: |
500.000/750.000 Eur |
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Number of Employees |
: |
fom 6 to 10 |
Credit Analysis
|
Credit Opinion |
: |
15.000 - Eur |
Activity
Electrical installation in buildings or in
other constructions ( inc
luding maintenance and repair)
Electrical installation (including
maintenance and repair)
Legal Data
Legal Form : Limited liability company
|
Register of Handcraft firms : 51390 of |
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Fiscal Code : 01896610514 |
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Chamber of Commerce no. : 147070 of |
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V.A.T. Code : 01896610514 |
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Establishment date |
: 09/11/2006 |
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Start of Activities |
: 04/01/2007 |
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Legal duration |
: 31/12/2050 |
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Nominal Capital |
: 10.000 |
Eur |
|
Subscribed Capital |
: 10.000 |
Eur |
|
Paid up Capital |
: 10.000 |
Eur |
Members
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Lejkowski |
Giovanni |
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Born in |
(AR) |
on 12/01/1970 |
- Fiscal Code : LJKGNN70A12A390R |
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Residence : |
Via |
Don Silvano Nanni |
, 37 |
- 52048 |
Monte San Savino |
(AR) |
- IT - |
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Position |
Since |
Shares Amount |
% Ownership |
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Director |
09/11/2006 |
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No Protests
registered |
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Marzoli |
Stefano |
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Born in |
(AR) |
on 18/01/1969 |
- Fiscal Code : MRZSFN69A18A390I |
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Residence : |
Localita' |
Pratantico |
, 94/H |
- 52100 |
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(AR) |
- IT - |
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Position |
Since |
Shares Amount |
% Ownership |
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Director |
09/11/2006 |
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Responsible technician |
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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 |
|
Lejkowski Giovanni |
Monte San Savino - IT - |
LJKGNN70A12A390R |
5.000 .Eur |
50,00 |
|
Marzoli Stefano |
|
MRZSFN69A18A390I |
5.000 .Eur |
50,00 |
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:
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- |
Legal and
operative seat |
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Localita' |
Pratantico |
, 94/H |
- 52100 |
- |
(AR) |
- IT - |
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Trading Style: RIACETECH |
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PHONE |
: 0575/987229 |
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- |
Branch |
(Workshop ) |
since 05/03/2007 |
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Via |
Provinciale Di Pescaiola |
, 85L Loc. VICIOMAGGIO |
- 52040 |
- Civitella in Val di Chiana |
(AR) |
- IT - |
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Trading Style: RIACETECH |
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Employees |
: 4 |
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Assistants |
: 2 |
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Stocks for a value of 120.000 |
Eur |
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 some years ago (2007).
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 39,33% in 2009 with a
good increase in turnover (more then 100% in 2009 compared to 2008 and +47,06%
in 2008 compared to 2007).
The operating result in 2009 was positive
(9,67%) and reflects the field's average.
The amount of the operating result is equal
to Eur. 39.109 increasing if compared to the yeart 2008.
The gross operating margin of the latest
financial year is of Eur. 52.711 with a more then 100% increase as opposed to
the preceding year.
The analysis shows a fair financial position
as the indebtedness volume is acceptable (1,57) but with an increase as against
the previous accounting period.
Subject can manage an equity capital funds
for an amount of Eur. 51.243 , increasing by 64,82% if compared to the year
before.
In the year 2009 total debts amounted to
Eur. 349.378 increasing if compared to the previous year, during which they
were equal to Eur. 258.384 (35,21%).
Available funds are good.
As far as the cash flow is concerned during
the latest financial year it amounted to Eur. 33.754
Labour cost amounts to Eur. 30.805, with a
6,37% incidence on production costs. and a 5,64% incidence on sales volumes.
If compared to the sales volume (-1,05%),
the impact of the financial charges is limited.
Financial Data
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Complete balance-sheet for the year |
31/12/2009 |
(in Eur |
x 1 ) |
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Item Type |
Value |
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Sales |
545.762 |
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Profit (Loss) for the period |
20.152 |
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Complete balance-sheet for the year |
31/12/2008 |
(in Eur |
x 1 ) |
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Item Type |
Value |
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Sales |
224.071 |
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Profit (Loss) for the period |
4.349 |
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Complete balance-sheet for the year |
31/12/2007 |
(in Eur |
x 1 ) |
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Item Type |
Value |
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Sales |
152.361 |
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Profit (Loss) for the period |
16.027 |
Balance Sheets
From our constant monitoring of the relevant
Public Administration offices, no more recent balance sheets result to have
been filed.
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- Balance Sheet as
at 31/12/2009 - 12 Mesi - Currency: Eur - Amounts x 1 |
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- Balance Sheet
as at 31/12/2008 - 12 Mesi - Currency: Eur - Amounts x 1 |
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- 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 |
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COMPOSITION ON
INVESTMENT |
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Rigidity Ratio |
Units |
0,04 |
0,08 |
0,22 |
0,10 |
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Elasticity Ratio |
Units |
0,96 |
0,92 |
0,78 |
0,87 |
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Availability of stock |
Units |
0,30 |
0,49 |
0,31 |
0,13 |
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Total Liquidity Ratio |
Units |
0,66 |
0,43 |
0,47 |
0,67 |
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Quick Ratio |
Units |
0,35 |
0,23 |
0,03 |
0,03 |
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COMPOSITION ON
SOURCE |
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Net Short-term indebtedness |
Units |
1,57 |
1,15 |
1,10 |
5,74 |
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Self Financing Ratio |
Units |
0,13 |
0,11 |
0,18 |
0,11 |
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Capital protection Ratio |
Units |
0,41 |
0,54 |
0,03 |
0,54 |
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Liabilities consolidation quotient |
Units |
0,59 |
1,54 |
2,66 |
0,14 |
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Financing |
Units |
6,82 |
8,31 |
4,69 |
6,81 |
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Permanent Indebtedness Ratio |
Units |
0,45 |
0,65 |
0,77 |
0,25 |
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M/L term Debts Ratio |
Units |
0,32 |
0,54 |
0,60 |
0,09 |
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Net Financial Indebtedness Ratio |
Units |
n.c. |
n.c. |
n.c. |
1,15 |
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CORRELATION |
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Fixed assets ratio |
Units |
12,63 |
8,50 |
3,52 |
2,07 |
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Current ratio |
Units |
1,75 |
2,62 |
3,46 |
1,15 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
1,21 |
1,23 |
2,10 |
0,96 |
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Structure's primary quotient |
Units |
3,58 |
1,41 |
0,80 |
1,02 |
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Treasury's primary quotient |
Units |
0,64 |
0,65 |
0,15 |
0,05 |
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Rate of indebtedness ( Leverage ) |
% |
789,49 |
931,16 |
569,23 |
859,04 |
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Current Capital ( net ) |
Value |
166.297 |
165.437 |
84.370 |
154.044 |
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RETURN |
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Return on Sales |
% |
6,18 |
7,92 |
18,82 |
2,92 |
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Return on Equity - Net- ( R.O.E. ) |
% |
39,33 |
13,99 |
59,93 |
10,93 |
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Return on Equity - Gross - ( R.O.E. ) |
% |
65,10 |
29,31 |
102,55 |
40,66 |
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Return on Investment ( R.O.I. ) |
% |
9,67 |
3,84 |
18,44 |
6,09 |
|
Return/ Sales |
% |
7,17 |
4,96 |
18,42 |
5,25 |
|
Extra Management revenues/charges incid. |
% |
51,53 |
39,13 |
57,10 |
22,14 |
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Cash Flow |
Value |
33.754 |
17.747 |
28.673 |
54.901 |
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Operating Profit |
Value |
39.109 |
11.113 |
28.070 |
97.107 |
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Gross Operating Margin |
Value |
52.711 |
24.511 |
40.716 |
134.959 |
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MANAGEMENT |
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Credits to clients average term |
Days |
n.c. |
n.c. |
n.c. |
155,73 |
|
Debts to suppliers average term |
Days |
n.c. |
n.c. |
n.c. |
192,07 |
|
Average stock waiting period |
Days |
79,67 |
228,16 |
110,02 |
37,11 |
|
Rate of capital employed return ( Turnover
) |
Units |
1,35 |
0,77 |
1,00 |
1,26 |
|
Rate of stock return |
Units |
4,52 |
1,58 |
3,27 |
9,53 |
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Labour cost incidence |
% |
5,64 |
1,34 |
0,58 |
20,33 |
|
Net financial revenues/ charges incidence |
% |
- 1,05 |
- 0,89 |
- 0,42 |
- 1,17 |
|
Labour cost on purchasing expenses |
% |
6,37 |
0,96 |
0,54 |
21,17 |
|
Short-term financing charges |
% |
1,69 |
0,91 |
0,80 |
2,14 |
|
Capital on hand |
% |
74,13 |
129,20 |
99,91 |
79,24 |
|
Sales pro employee |
Value |
545.762 |
112.035 |
|
162.149 |
|
Labour cost pro employee |
Value |
30.805 |
1.500 |
|
32.504 |
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:
15.000 Eur.
Market / Territory Data
|
Population living in the province |
: |
333.385 |
|
Population living in the region |
: |
3.598.269 |
|
Number of families in the region |
: |
1.474.681 |
Monthly family expences average in the
region (in Eur.) :
|
- per food products |
: |
444 |
|
- per non food products |
: |
2.009 |
|
- per energy consume |
: |
122 |
Sector Data
The values are calculated on a base of 4.211
significant companies.
The companies cash their credits on an
average of 155 dd.
The average duration of suppliers debts is
about 192 dd.
The sector's profitability is on an average
of 2,92%.
The labour cost affects the turnover in the
measure of 20,33%.
Goods are held in stock in a range of 37 dd.
The difference between the sales volume and
the resources used to realize it is about 1,26.
The employees costs represent the 21,17% of
the production costs.
Statistical Detrimental Data
The area is statistically considered
moderately risky.
In the region 24.960 protested subjects are
found; in the province they count to 2.227.
The insolvency index for the region is 0,70,
, while for the province it is 0,67.
Total Bankrupt companies in the province :
1.151.
Total Bankrupt companies in the region :
20.423.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.57 |
|
|
1 |
Rs.73.58 |
|
Euro |
1 |
Rs.66.23 |
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.