MIRA
INFORM REPORT
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Report Date : |
19.05.2011 |
IDENTIFICATION DETAILS
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Name : |
BIOVERSITY INTERNATIONAL |
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Registered Office : |
Via Dei TreDenari, 472/a 00100 – Roma (RM) |
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Country : |
Italy |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
01.12.2006 |
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Legal Form : |
Association |
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Line of Business : |
Activities of organisations for the promotion and protection of animals
and the environment |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Maximum Credit Limit : |
180.000 - Eur |
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Status : |
Very Good |
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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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Italy |
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
BIOVERSITY INTERNATIONAL
Via Dei TreDenari, 472/a
00100 – Roma (RM) -IT-
Summary
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Legal Form |
: |
Association |
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start of Activities |
: |
01/12/2006 |
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Equity |
: |
Over 2.582.254 Eur |
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Turnover Range |
: |
25.000.000/35.000.000 Eur |
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Number of Employees |
: |
from 251 to 500 |
Credit
Analysis
|
Credit Opinion |
: |
180.000 - Eur |
Highlights
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Bioversity International is the world’s largest international research |
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organization dedicated solely to the conservation and use of
agricultural |
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biodiversity. |
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Bioversity is part of the Consultative Group on International
Agricultural |
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Research, which works to reduce hunger, poverty and environmental
degradation |
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in developing countries by generating and sharing relevant
agricultural |
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knowledge, technologies and policies. This research, focused on
development, |
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is conducted by a Consortium of 15 CGIAR centres working with hundreds |
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of partners worldwide and supported by a multi-donor Fund. |
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With effect from 1 December 2006, the International Plant Genetic
Resources |
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Institute (IPGRI) and the International Network for the Improvement of |
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Banana and Plantain (INIBAP) began operating under the name
“Bioversity |
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International”, Bioversity for short. This new name reflects an
expanded |
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vision of Bioversity’s role in the area of biodiversity research for
development. |
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Bioversity undertakes, encourages and supports research and other
activities |
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on the use and conservation of agricultural biodiversity, especially
genetic |
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resources, to create more productive, resilient and sustainable
harvests. |
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Bioversity’s aim is to promote the greater well-being of people,
particularly |
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poor people in developing countries, by helping them to achieve food
security, |
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to improve their health and nutrition, to boost their incomes, and to
conserve |
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the natural resources on which they depend. Bioversity works with a
global |
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range of partners to maximize impact, to develop capacity and to
ensure |
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that all stakeholders have an effective voice. |
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The purpose of Bioversity’s work is to ensure that individuals and
institutions |
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are able to make optimal use of agricultural biodiversity to meet
current |
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and future development needs of people and societies. The
international |
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status of Bioversity is conferred under an Establishment Agreement
which |
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has been signed and ratified by 55 Governments. In January 1994,
arrangements |
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with the Government of Italy to confirm Rome as Bioversity’s
headquarters |
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were concluded and published in the GazzettaUfficiale no. 23 of 29
January |
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1994. Bioversity is exempt from direct (income) and indirect
(value-added) |
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taxation. |
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Activity
Activities of organisations for the promotion and protection of animals
and the environment
Legal Data
Legal Form : Association
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Foundation date |
: 01/12/2006 |
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Establishment date |
: 19/09/2008 |
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Start of Activities |
: 01/12/2006 |
The firm under review is not registered at the competent local Firm's
Registery.
Members
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Zuckerman |
Paul |
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Position |
Since |
Shares Amount |
% Ownership |
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Board Chairman |
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Lukhele-Olorunju |
E. |
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Position |
Since |
Shares Amount |
% Ownership |
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Vice-Chairman |
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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.
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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Via |
Dei TreDenari |
, 472/a |
- 00100 |
- Roma |
(RM) |
- IT - |
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PHONE |
: 06/61181 |
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FAX |
: 06/61979661 |
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Website |
: bioversity@cgiar.org |
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Employees |
: 445 |
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Stocks for a value of 49.070.000 |
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
Subject under review started the activities in 2006.
On the base of the analysis made on the b/s of the years 2010 and 2009,
it can be gathered that:
Under the financial profile unstable results are noted. anyway in 2010 a
positive result was achieved (r.o.e. 8,34%).
The operating result in 2010 was positive (0,57%) and in line with the
sector's average.
The amount of the operating result for the year 2010 is of Eur. 669.210
increasing if compared to the yeart 2009.
The economic management produced a gross operating margin of Eur.
1.025.561 showing an upward trend if compared to 2009.
Excellent equity structure since liquidity is higher than short term
liabilities.
Subject can manage an equity capital funds for an amount of Eur.
8.022.810 , with an upward trend.
During the last financial year debts totalled Eur. 14.608.995 (Eur.
3.265.383 of which were m/l term debts) showing a stable trend as opposed to
2009 (Eur. 16.396.362).
Bank and suppliers credit recourse is limited, 46,48gg. is payment
average period which is within the sector's average.
The liquidity level is positive (9,48).
As far as the collection of credit goes, the average is high (712,14
days). but in line with the sector.
During financial year 2010 the cash flow amounted to Eur. 1.025.561
Labour cost expenses amount to Eur. 14.244.226 , representing 54,62% on
the total of production costs. , whereas the incidence on sales revenues is of
53,26%.
Financial Data
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Complete balance-sheet for the year |
31/12/2010 |
(in Eur |
x 1 ) |
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Item Type |
Value |
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Sales |
26.746.679 |
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Profit (Loss) for the period |
669.210 |
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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 |
25.118.548 |
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Profit (Loss) for the period |
-379.499 |
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 31/12/2010 - 12 Mesi - Currency: Eur - Amounts x
1 |
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- Balance Sheet as at 31/12/2009 - 12 Mesi - Currency: Eur - Amounts x
1 |
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RATIOS |
Value Type |
as at 31/12/2010 |
as at 31/12/2009 |
Sector Average |
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COMPOSITION ON
INVESTMENT |
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Rigidity Ratio |
Units |
0,08 |
0,07 |
0,12 |
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Elasticity Ratio |
Units |
0,92 |
0,93 |
0,44 |
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Availability of stock |
Units |
n.c. |
0,49 |
0,03 |
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Total Liquidity Ratio |
Units |
0,92 |
0,43 |
0,46 |
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Quick Ratio |
Units |
0,42 |
0,40 |
0,05 |
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COMPOSITION ON
SOURCE |
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Net Short-term indebtedness |
Units |
n.c. |
n.c. |
1,20 |
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Self Financing Ratio |
Units |
0,07 |
0,06 |
0,44 |
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Capital protection Ratio |
Units |
0,65 |
0,72 |
0,42 |
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Liabilities consolidation quotient |
Units |
0,29 |
0,25 |
0,05 |
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Financing |
Units |
1,82 |
2,60 |
1,56 |
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Permanent Indebtedness Ratio |
Units |
0,10 |
0,10 |
0,60 |
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M/L term Debts Ratio |
Units |
0,03 |
0,03 |
0,02 |
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Net Financial Indebtedness Ratio |
Units |
0,00 |
0,00 |
0,00 |
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CORRELATION |
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Fixed assets ratio |
Units |
1,17 |
1,31 |
4,93 |
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Current ratio |
Units |
9,48 |
7,00 |
1,77 |
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Acid Test Ratio-Liquidity Ratio |
Units |
9,48 |
3,26 |
1,93 |
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Structure's primary quotient |
Units |
0,83 |
0,87 |
4,77 |
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Treasury's primary quotient |
Units |
4,35 |
3,02 |
0,15 |
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Rate of indebtedness ( Leverage ) |
% |
1.461,43 |
1.573,31 |
250,01 |
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Current Capital ( net ) |
Value |
96.230.251 |
78.783.776 |
93.646 |
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RETURN |
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Return on Sales |
% |
3,83 |
- 0,07 |
0,31 |
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Return on Equity - Net- ( R.O.E. ) |
% |
8,34 |
- 6,02 |
- 9,37 |
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Return on Equity - Gross - ( R.O.E. ) |
% |
8,34 |
- 6,02 |
- 10,86 |
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Return on Investment ( R.O.I. ) |
% |
0,57 |
- 0,38 |
- 3,60 |
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Return/ Sales |
% |
2,50 |
- 1,51 |
- 1,11 |
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Extra Management revenues/charges incid. |
% |
100,00 |
n.c. |
- 8,80 |
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Cash Flow |
Value |
1.025.561 |
-16.835 |
525 |
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Operating Profit |
Value |
669.210 |
-379.499 |
-1.776 |
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Gross Operating Margin |
Value |
1.025.561 |
-16.835 |
1.345 |
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MANAGEMENT |
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Credits to clients average term |
Days |
712,14 |
35,89 |
169,51 |
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Debts to suppliers average term |
Days |
46,48 |
38,94 |
191,21 |
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Average stock waiting period |
Days |
n.c. |
703,31 |
26,11 |
|
Rate of capital employed return ( Turnover ) |
Units |
0,23 |
0,25 |
0,61 |
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Rate of stock return |
Units |
n.c. |
0,51 |
129,77 |
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Labour cost incidence |
% |
53,26 |
57,61 |
45,32 |
|
Net financial revenues/ charges incidence |
% |
n.c. |
n.c. |
- 0,10 |
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Labour cost on purchasing expenses |
% |
54,62 |
56,75 |
38,29 |
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Short-term financing charges |
% |
n.c. |
n.c. |
0,49 |
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Capital on hand |
% |
438,36 |
394,91 |
146,74 |
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Sales pro employee |
Value |
60.104 |
55.572 |
61.914 |
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Labour cost pro employee |
Value |
32.009 |
32.013 |
33.599 |
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:
180.000 Eur.
Market / Territory Data
|
Population living in the province |
: |
3.807.992 |
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Population living in the region |
: |
5.269.972 |
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Number of families in the region |
: |
2.091.220 |
Monthly family expences average in the region (in Eur.) :
|
- per food products |
: |
472 |
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- per non food products |
: |
1.832 |
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- per energy consume |
: |
102 |
Sector Data
The values are calculated on a base of 5 significant companies.
The companies cash their credits on an average of 169 dd.
The average duration of suppliers debts is about 191 dd.
The sector's profitability is on an average of 0,31%.
The labour cost affects the turnover in the measure of 45,32%.
Goods are held in stock in a range of 26 dd.
The difference between the sales volume and the resources used to
realize it is about 0,61.
The employees costs represent the 38,29% of the production costs.
Statistical Detrimental Data
The area is statistically considered moderately risky.
In the region 53.924 protested subjects are found; in the province they
count to 34.465.
The insolvency index for the region is 1,04, , while for the province it
is 0,92.
Total Bankrupt companies in the province : 31.914.
Total Bankrupt companies in the region : 37.442.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.08 |
|
|
1 |
Rs.73.35 |
|
Euro |
1 |
Rs.64.30 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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.