MIRA INFORM REPORT
|
Report Date : |
18.05.2011 |
IDENTIFICATION DETAILS
|
Name : |
LINEA ARGENTI S.R.L. |
|
|
|
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Registered Office : |
Via Biagi E
D'antona, s.n., 60025 - Loreto (AN) |
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Country : |
Italy |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
15.06.1990 |
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Com. Reg. No.: |
9946 |
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|
Legal Form : |
Limited Liability Company |
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|
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Line of Business : |
Manufacture of jewellery in precious
metals o plated with precious metals |
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 |
|
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 |
a2 |
a2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 |
Company name & address
Linea Argenti S.r.l.
Via Biagi E
D'antona, s.n.
60025 - Loreto (AN) -IT-
Summary
|
Fiscal Code |
: |
02074480407 |
|
Legal Form |
: |
Limited liability company |
|
start of Activities |
: |
26/08/1992 |
|
Equity |
: |
65.000 Eur |
|
Turnover Range |
: |
1.500.000/2.000.000 Eur |
|
Number of Employees |
: |
from 16 to 25 |
Activity
Manufacture of jewellery in precious metals
o plated with precious metals
Legal Data
Legal Form : Limited liability company
|
Fiscal Code : 02074480407 |
|
Foreign Trade Reg. no. : AN012925 since
30/01/2008 |
|
Chamber of Commerce no. : 180597 of Ancona
since 22/10/2007 |
|
Chamber of Commerce no. : 119517 of
Macerata |
|
Firms' Register : 9946 |
|
V.A.T. Code : 02074480407 |
|
Establishment date |
: 15/06/1990 |
|
|
Start of Activities |
: 26/08/1992 |
|
|
Legal duration |
: 31/12/2050 |
|
|
Nominal Capital |
: 218.400 |
Eur |
|
Subscribed Capital |
: 218.400 |
Eur |
|
Paid up Capital |
: 218.400 |
Eur |
Members
|
|
Zafferani |
Agostino |
|
|
|
Born in Jersey City |
on 17/01/1958 |
- Fiscal Code : ZFFGTN58A17Z404B |
|
|
|
Residence : |
A. Lazzari Da Urbino |
, 5 |
Serravalle |
- SM - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Sole Director |
06/05/1998 |
|
|
|
|
No Protests
registered |
|
|
Zafferani |
Simone |
|
|
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Born in Caracas |
on 07/11/1980 |
- Fiscal Code : ZFFSMN80S07Z614G |
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|
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Residence : |
Fiorentino |
- SM - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Attorney General |
04/02/2008 |
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|
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Procurator |
24/08/2009 |
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|
|
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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.
|
|
ZAFFERANI |
AGOSTINO |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
NEW DANIEL - S.R.L. |
Recanati (MC) - IT - |
00952300424 |
Sole Director |
Active |
Registered |
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ZAFFERANI |
SIMONE |
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Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
NEW DANIEL - S.R.L. |
Recanati (MC) - IT - |
00952300424 |
Attorney General
|
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 |
|
Zafferani Agostino |
Serravalle - SM - |
ZFFGTN58A17Z404B |
196.560 .Eur |
90,00 |
|
Zafferani Simone |
Fiorentino - SM - |
ZFFSMN80S07Z614G |
21.840 .Eur |
10,00 |
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 |
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|
|
|
|
|
Via |
Biagi E D'antona |
, S.C.N. |
- 60025 |
- Loreto |
(AN) |
- IT - |
|
|
|
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Employees |
: 18 |
|
Fittings and Equipment for a value of
420.000 |
Eur |
|
Stocks for a value of 990.000 |
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 1992.
The analysis is based on the latest 3
balance sheets.
During the last years, net losses were
registered; in 2009 r.o.e. is -301,15%. 2009 loss was also due to a turnover
decrease.
The operating result is negative.
The operating loss amounts to Eur. -63.549 .
During the latest financial year the gross
operating margin amounted to Eur. 81.802 with a more then 100% growth.
Short-term debts volume if compared to net
worth, as it comes out from the total indebtedness (15,1) which tends upward.
The management generated equity capital for
an amount of Eur. 62.804 with a -75,07% fall.
Total debts recorded amounted to Eur.
2.909.127 (Eur. 1.945.269 of which were m/l term debts) , with no sensible
variation.
Considerable bank indebtedness; on the other
hand the recourse to suppliers' credit is slightly high even if it is lower
than the sector's average.
The available funds are good.
Accounts receivable average term is high
(136,57 days). besides being higher than the sector's average.
The financial management generated a
negative cash flow (Eur. -43.781).
In the last financial year labour cost was
of Eur. 458.140, with a 27,32% incidence on total costs of production. , with a
28,04% incidence on turnover.
Financial charges are high: the incidence on
sales volume amounts to -7,19%
Financial Data
|
|
|
Complete balance-sheet for the year |
31/12/2009 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
1.633.640 |
|
Profit (Loss) for the period |
-189.132 |
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|
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Complete balance-sheet for the year |
31/12/2008 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
2.770.391 |
|
Profit (Loss) for the period |
-280.811 |
|
|
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Complete balance-sheet for the year |
31/12/2007 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
2.075.244 |
|
Profit (Loss) for the period |
-8.573 |
|
|
|
Complete balance-sheet for the year |
31/12/2006 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
1.657.868 |
|
Profit (Loss) for the period |
-38.697 |
|
|
|
Complete balance-sheet for the year |
31/12/2005 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
1.769.775 |
|
Profit (Loss) for the period |
-21.597 |
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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- 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 |
0,48 |
0,46 |
0,46 |
0,13 |
|
Elasticity Ratio |
Units |
0,52 |
0,53 |
0,53 |
0,85 |
|
Availability of stock |
Units |
0,31 |
0,30 |
0,28 |
0,30 |
|
Total Liquidity Ratio |
Units |
0,21 |
0,23 |
0,25 |
0,47 |
|
Quick Ratio |
Units |
0,00 |
0,00 |
0,05 |
0,03 |
|
COMPOSITION ON
SOURCE |
|
|
|
|
|
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Net Short-term indebtedness |
Units |
15,10 |
6,58 |
8,09 |
2,54 |
|
Self Financing Ratio |
Units |
0,02 |
0,07 |
0,05 |
0,22 |
|
Capital protection Ratio |
Units |
0,53 |
1,25 |
- 0,17 |
0,67 |
|
Liabilities consolidation quotient |
Units |
2,17 |
0,95 |
1,00 |
0,27 |
|
Financing |
Units |
46,32 |
12,39 |
17,32 |
3,21 |
|
Permanent Indebtedness Ratio |
Units |
0,68 |
0,52 |
0,52 |
0,41 |
|
M/L term Debts Ratio |
Units |
0,66 |
0,45 |
0,47 |
0,14 |
|
Net Financial Indebtedness Ratio |
Units |
40,78 |
9,37 |
9,66 |
1,20 |
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CORRELATION |
|
|
|
|
|
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Fixed assets ratio |
Units |
1,43 |
1,13 |
1,14 |
2,71 |
|
Current ratio |
Units |
1,70 |
1,13 |
1,13 |
1,42 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
0,67 |
0,48 |
0,53 |
0,86 |
|
Structure's primary quotient |
Units |
0,04 |
0,15 |
0,11 |
1,55 |
|
Treasury's primary quotient |
Units |
0,02 |
0,01 |
0,10 |
0,05 |
|
Rate of indebtedness ( Leverage ) |
% |
5.035,05 |
1.410,21 |
1.919,79 |
452,86 |
|
Current Capital ( net ) |
Value |
677.928 |
224.206 |
214.202 |
427.596 |
|
RETURN |
|
|
|
|
|
|
Return on Sales |
% |
- 2,68 |
- 6,95 |
1,22 |
2,29 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
- 301,15 |
- 111,46 |
- 4,80 |
3,46 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
- 288,17 |
- 106,44 |
6,75 |
13,15 |
|
Return on Investment ( R.O.I. ) |
% |
- 2,01 |
- 3,06 |
2,02 |
5,59 |
|
Return/ Sales |
% |
- 3,89 |
- 3,93 |
3,35 |
4,59 |
|
Extra Management revenues/charges incid. |
% |
n.c. |
n.c. |
- 12,35 |
16,10 |
|
Cash Flow |
Value |
-43.781 |
-192.469 |
25.247 |
52.328 |
|
Operating Profit |
Value |
-63.549 |
-108.790 |
69.423 |
96.285 |
|
Gross Operating Margin |
Value |
81.802 |
-20.448 |
103.243 |
142.499 |
|
MANAGEMENT |
|
|
|
|
|
|
Credits to clients average term |
Days |
136,57 |
100,18 |
91,78 |
107,81 |
|
Debts to suppliers average term |
Days |
91,79 |
107,99 |
263,04 |
120,45 |
|
Average stock waiting period |
Days |
218,56 |
140,73 |
168,66 |
83,44 |
|
Rate of capital employed return ( Turnover
) |
Units |
0,52 |
0,78 |
0,60 |
1,23 |
|
Rate of stock return |
Units |
1,65 |
2,56 |
2,13 |
4,28 |
|
Labour cost incidence |
% |
28,04 |
23,81 |
24,34 |
14,37 |
|
Net financial revenues/ charges incidence |
% |
- 7,19 |
- 5,75 |
- 3,56 |
- 2,15 |
|
Labour cost on purchasing expenses |
% |
27,32 |
22,22 |
23,87 |
14,54 |
|
Short-term financing charges |
% |
4,04 |
5,11 |
2,40 |
4,40 |
|
Capital on hand |
% |
193,57 |
128,24 |
165,36 |
80,66 |
|
Sales pro employee |
Value |
90.757 |
98.942 |
94.329 |
201.158 |
|
Labour cost pro employee |
Value |
25.452 |
23.558 |
22.964 |
30.432 |
Market
/ Territory Data
|
Population living in the province |
: |
461.345 |
|
Population living in the region |
: |
1.518.780 |
|
Number of families in the region |
: |
577.034 |
Monthly family expenses average in the region
(in Eur.) :
|
- per food products |
: |
496 |
|
- per non food products |
: |
1.837 |
|
- per energy consume |
: |
122 |
Sector Data
The values are calculated on a base of 591
significant companies.
The companies cash their credits on an average
of 107 dd.
The average duration of suppliers debts is
about 120 dd.
The sector's profitability is on an average
of 2,29%.
The labour cost affects the turnover in the
measure of 14,37%.
Goods are held in stock in a range of 83 dd.
The difference between the sales volume and
the resources used to realize it is about 1,23.
The employees costs represent the 14,54% of
the production costs.
Statistical Detrimental Data
The area is statistically considered
moderately risky.
In the region 9.333 protested subjects are
found; in the province they count to 2.315.
The insolvency index for the region is 0,62,
, while for the province it is 0,51.
Total Bankrupt companies in the province :
855.
Total Bankrupt companies in the region :
6.005.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.07 |
|
UK Pound |
1 |
Rs.63.57 |
|
Euro |
1 |
Rs.72.97 |
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.