MIRA
INFORM REPORT
|
Report Date : |
17.05.2011 |
IDENTIFICATION DETAILS
|
Name : |
TISCA ITALIA S.R.L. |
|
|
|
|
Registered Office : |
Via
Donizetti, 6 24050 - Lurano
(BG) |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2009 |
|
|
|
|
Date of Incorporation : |
24.09.1973 |
|
|
|
|
Com. Reg. No.: |
BG024-9594 since 19/02/1996 |
|
|
|
|
Legal Form : |
Limited Liability
Company |
|
|
|
|
Line of Business : |
Manufacture of Rugs
and Carpets |
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 : |
90.000 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 – 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 |
Company name and address
Tisca Italia S.r.l.
Via
Donizetti, 6
24050 - Lurano (BG) -IT-
Summary
|
Fiscal Code |
: |
00421940164 |
|
Legal Form |
: |
Limited liability company |
|
start of Activities |
: |
15/02/1974 |
|
Equity |
: |
Over 2.582.254 Eur |
|
|
: |
2.250.000/3.000.000 Eur |
|
Number of Employees |
: |
from 16 to 25 |
Credit Analysis
|
Credit Opinion |
: |
90.000 - Eur |
Activity
Manufacture of rugs
and carpets
Manufacture of
other technical and industrial textiles
Legal Data
Legal Form :
Limited liability company
|
Fiscal Code : 00421940164 |
|
Foreign Trade Reg. no. : BG016817 since 10/01/1992 |
|
Foreign Trade Reg. no. : 16817 of |
|
Chamber of Commerce no. : 150731 of |
|
Firms' Register : BG024-9594 since 19/02/1996 |
|
V.A.T. Code : 00421940164 |
|
Tribunal Co. Register : 9594 of |
|
Foundation date |
: 24/09/1973 |
|
|
Establishment date |
: 24/09/1973 |
|
|
Start of Activities |
: 15/02/1974 |
|
|
Legal duration |
: 31/12/2100 |
|
|
Nominal Capital |
: 52.000 |
Eur |
|
Subscribed Capital |
: 52.000 |
Eur |
|
Paid up Capital |
: 52.000 |
Eur |
Members
|
|
Re |
Maria |
|
|
|
Born in Nerviano |
(MI) |
on 20/12/1945 |
- Fiscal Code : REXMRA45T60F874C |
|
|
|
Residence : |
Via |
Dei Platani |
, 28 |
- 24048 |
Treviolo |
(BG) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Managing Director |
09/06/1999 |
|
|
|
|
No Protests registered |
|
|
Tischhauser |
Vogt Anton |
|
|
|
Born in Teufen |
on 11/03/1941 |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Managing Director |
|
|
|
|
Board Chairman |
|
|
|
|
|
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.
|
|
RE |
MARIA |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
TIARA - ITALIA S.R.L. - IN LIQUIDAZIONE |
Padova (PD) - IT - |
00273370288 |
Liquidator |
Withdrawn |
Ceased |
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 |
|
Re Maria |
Treviolo - IT - |
REXMRA45T60F874C |
3.120 .Eur |
6,00 |
|
TISCA TISCHAUSER E CO. A.G. |
Robbiate - IT - |
84006270163 |
34.320 .Eur |
66,00 |
|
BORGHI VITTORIO |
|
BRGVTR33P03B639O |
8.320 .Eur |
16,00 |
|
AIGENR WALTER |
|
GNRWTR34D30Z102L |
3.120 .Eur |
6,00 |
|
Paulig Thomas |
|
PLGTMS62A28Z112Y |
3.120 .Eur |
6,00 |
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:
|
- |
Legal and operative seat |
|
since 24/09/1973 |
|
|
|
|
|
Via |
Donizetti |
, 6 |
- 24050 |
- Lurano |
(BG) |
- IT - |
|
|
|
|
PHONE |
: 035/800095 |
|
|
|
|
FAX |
: 035/800414 |
|
|
|
|
Employees |
: 17 |
|
Fittings and Equipment for a value of 150.000 |
Eur |
|
Stocks for a value of 420.000 |
Eur |
Trade organization: direct or by agents.
The firm operates abroad as importer / exporter. .
Export represents up to 20% of the global turnover.
Products abroad are placed by :
|
- direct orders from foreign companies |
Import comes generally from the following nations:
|
- |
|
- Belgio |
Export is mainly towards:
|
- Ungheria |
Historical Information and/or Firm's Status
EX-MEMBERS / EX-POSITIONS:
|
|
Cazzaniga |
Ernesto |
|
|
|
Born in Milano |
on 19/11/1919 |
- Fiscal Code : CZZRST19S19F205L |
|
Ex-Postions |
|
Managing Director |
|
Director |
|
|
Tischhauser |
Anton |
|
|
|
Born in Malans Wartau |
on 19/04/1914 |
|
Ex-Postions |
|
Director |
|
|
Tischhauser |
Vogt Anton |
|
|
|
Born in Teufen |
on 11/03/1941 |
|
Ex-Postions |
|
Managing Director |
|
Board Chairman |
|
|
Tischhauser |
Vogt Anton |
|
|
|
Born in Teufen |
on 11/03/1941 |
|
Ex-Postions |
|
Managing Director |
|
Board Chairman |
|
|
Tischhauser |
Vogt Anton |
|
|
|
Born in Teufen |
on 11/03/1941 |
|
Ex-Postions |
|
Managing Director |
|
Board Chairman |
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.
Bankers
The firm operates with:
|
Bank Name |
Agency Name |
Address |
ZIP Code |
City |
ABI Code |
CAB Code |
|
ISTITUTO BANCARIO SAN PAOLO IMI |
|
|
|
|
1025 |
0 |
|
BANCA CREDITO COOP. DI CARAVAGGIO |
|
|
|
|
8441 |
0 |
Financial and Economical Analysis
Company's starting of activities dates back to 1974.
An eco-fin analysis has been made on the base od the b/s fo the years
2007, 2008 and 2009.
During the last years, it achieved profits (r.o.e. 0,53% on 2009)
The operating result in 2009 was positive (1,11%) and reflects the
field's average.
An operating result of Eur. 39.972 has been registered. showing a fall
as opposed to the previous year (-86,71%).
During the latest financial year the gross operating margin amounted to
Eur. 96.058 , with a -70,09% decrease.
Indebtedness is scanty since debts are lower than liquidity.
With regard to equity capital, an amount of Eur. 2.933.198 is
registered. , stable in comparison with the value of the previous year.
Total indebtedness totalled Eur. 368.664, with a downward trend if
compared to the preceding year (-21,81%).
Available funds are good.
The financial management generated a cash flow of Eur. 71.597.
Subordinate employment cost is of Eur. 471.316, i.e. 20,34% on total
production costs. , with a 19,77% incidence on turnover.
No incidence of financial charges as lower than the incomes.
Financial Data
|
|
|
Complete balance-sheet for the year |
31/12/2009 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
2.384.405 |
|
Profit (Loss) for the period |
15.511 |
|
|
|
Complete balance-sheet for the year |
31/12/2008 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
3.226.924 |
|
Profit (Loss) for the period |
201.833 |
|
|
|
Complete balance-sheet for the year |
31/12/2007 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
3.515.879 |
|
Profit (Loss) for the period |
195.649 |
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 |
0,49 |
0,48 |
0,02 |
0,18 |
|
Elasticity Ratio |
Units |
0,51 |
0,52 |
0,96 |
0,80 |
|
Availability of stock |
Units |
0,12 |
0,12 |
0,28 |
0,20 |
|
Total Liquidity Ratio |
Units |
0,39 |
0,39 |
0,68 |
0,54 |
|
Quick Ratio |
Units |
0,15 |
0,02 |
0,09 |
0,02 |
|
COMPOSITION ON
SOURCE |
|
|
|
|
|
|
Net Short-term indebtedness |
Units |
n.c. |
0,13 |
0,40 |
2,80 |
|
Self Financing Ratio |
Units |
0,81 |
0,80 |
0,54 |
0,19 |
|
Capital protection Ratio |
Units |
0,98 |
0,92 |
0,79 |
0,66 |
|
Liabilities consolidation quotient |
Units |
0,63 |
0,49 |
0,39 |
0,21 |
|
Financing |
Units |
0,13 |
0,16 |
0,57 |
3,54 |
|
Permanent Indebtedness Ratio |
Units |
0,88 |
0,86 |
0,66 |
0,38 |
|
M/L term Debts Ratio |
Units |
0,06 |
0,06 |
0,12 |
0,12 |
|
Net Financial Indebtedness Ratio |
Units |
n.c. |
n.c. |
n.c. |
0,94 |
|
CORRELATION |
|
|
|
|
|
|
Fixed assets ratio |
Units |
1,79 |
1,79 |
22,38 |
1,94 |
|
Current ratio |
Units |
4,97 |
4,16 |
3,12 |
1,27 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
3,83 |
3,16 |
2,21 |
0,89 |
|
Structure's primary quotient |
Units |
1,66 |
1,66 |
18,26 |
1,14 |
|
Treasury's primary quotient |
Units |
1,45 |
0,16 |
0,29 |
0,05 |
|
Rate of indebtedness ( Leverage ) |
% |
122,84 |
125,45 |
184,89 |
502,11 |
|
Current Capital ( net ) |
Value |
1.464.367 |
1.490.751 |
1.462.594 |
319.928 |
|
RETURN |
|
|
|
|
|
|
Return on Sales |
% |
3,00 |
6,88 |
6,13 |
3,43 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
0,53 |
6,69 |
16,29 |
5,58 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
1,78 |
10,74 |
29,60 |
20,25 |
|
Return on Investment ( R.O.I. ) |
% |
1,11 |
7,95 |
15,44 |
5,38 |
|
Return/ Sales |
% |
1,68 |
9,32 |
9,74 |
4,48 |
|
Extra Management revenues/charges incid. |
% |
38,80 |
67,08 |
57,08 |
22,68 |
|
Cash Flow |
Value |
71.597 |
222.119 |
215.863 |
91.584 |
|
Operating Profit |
Value |
39.972 |
300.873 |
342.742 |
120.550 |
|
Gross Operating Margin |
Value |
96.058 |
321.159 |
363.023 |
197.844 |
|
MANAGEMENT |
|
|
|
|
|
|
Credits to clients average term |
Days |
n.c. |
n.c. |
135,64 |
126,68 |
|
Debts to suppliers average term |
Days |
n.c. |
n.c. |
100,00 |
143,71 |
|
Average stock waiting period |
Days |
63,53 |
52,61 |
63,72 |
59,41 |
|
Rate of capital employed return ( Turnover ) |
Units |
0,66 |
0,85 |
1,58 |
1,19 |
|
Rate of stock return |
Units |
5,67 |
6,84 |
5,64 |
6,05 |
|
Labour cost incidence |
% |
19,77 |
15,89 |
15,59 |
15,59 |
|
Net financial revenues/ charges incidence |
% |
0,51 |
0,72 |
0,27 |
- 1,49 |
|
Labour cost on purchasing expenses |
% |
20,34 |
18,31 |
17,68 |
15,78 |
|
Short-term financing charges |
% |
n.c. |
0,11 |
n.c. |
2,90 |
|
Capital on hand |
% |
151,12 |
117,32 |
63,13 |
83,73 |
|
Sales pro employee |
Value |
140.259 |
189.819 |
185.046 |
199.982 |
|
Labour cost pro employee |
Value |
27.724 |
30.154 |
28.859 |
31.739 |
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:
90.000 Eur.
Market / Territory Data
|
Population living in the province |
: |
1.022.428 |
|
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 1.146 significant companies.
The companies cash their credits on an average of 126 dd.
The average duration of suppliers debts is about 143 dd.
The sector's profitability is on an average of 3,43%.
The labour cost affects the turnover in the measure of 15,59%.
Goods are held in stock in a range of 59 dd.
The difference between the sales volume and the resources used to
realize it is about 1,19.
The employees costs represent the 15,78% 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 4.150.
The insolvency index for the region is 0,55, , while for the province it
is 0,41.
Total Bankrupt companies in the province : 4.376.
Total Bankrupt companies in the region : 39.612.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.07 |
|
|
1 |
Rs.72.97 |
|
Euro |
1 |
Rs.63.57 |
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.