MIRA INFORM
REPORT
|
Report Date : |
31.05.2011 |
IDENTIFICATION DETAILS
|
Correct Name : |
RI. MA. - S.R.L. |
|
|
|
|
Registered Office : |
Via Giorgio
Stephenson, 32, 20019- Settimo
Milanese (MI) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
30.09.2010 |
|
|
|
|
Date of Incorporation : |
26.10.1972 |
|
|
|
|
Com. Reg. No.: |
MI146-150998 since 19/02/1996 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Agents and representatives of agricultural machinery and equipment |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
250.000 Eur |
|
Status : |
Satisfactory |
|
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 – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
|
Italy |
a2 |
a2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Company name & address
Ri. Ma. - S.r.l.
Via Giorgio
Stephenson, 32
20019 - Settimo Milanese (MI) -IT-
Summary
|
Fiscal Code |
: |
00882160153 |
|
Legal Form |
: |
Limited liability company |
|
start of Activities |
: |
26/10/1972 |
|
Equity |
: |
2.500.000 Eur |
|
Turnover Range |
: |
6.500.000/7.750.000 Eur |
|
Number of Employees |
: |
from 26 to 35 |
Credit Analysis
|
Credit Opinion |
: |
250.000 - Eur |
Activity
Agents and representatives of agricultural
machinery and equipment (
including farm tractors)
Wholesale of agricultural machinery,
equipment and supplies
Legal Data
Legal Form : Limited liability company
|
Fiscal Code : 00882160153 |
|
Foreign Trade Reg. no. : MI011029 since
05/12/1991 |
|
Foreign Trade Reg. no. : 11029 of Milano
since 05/12/1991 |
|
Chamber of Commerce no. : 848663 of Milano
since 29/11/1972 |
|
Firms' Register : MI146-150998 since
19/02/1996 |
|
V.A.T. Code : 00882160153 |
|
Foundation date |
: 26/10/1972 |
|
|
Establishment date |
: 26/10/1972 |
|
|
Start of Activities |
: 26/10/1972 |
|
|
Legal duration |
: 31/12/2100 |
|
|
Nominal Capital |
: 50.000 |
Eur |
|
Subscribed Capital |
: 50.000 |
Eur |
|
Paid up Capital |
: 50.000 |
Eur |
Members
|
|
Sartirana |
Luigi |
|
|
|
Born in Milano |
(MI) |
on 23/05/1938 |
- Fiscal Code : SRTLGU38E23F205P |
|
|
|
Residence : |
Via |
Delle Forze Armate |
, 384 |
- 20152 |
Milano |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Board Chairman |
29/02/1988 |
|
|
|
|
No Protests
registered |
|
|
Molgora |
Sergio |
|
|
|
Born in Milano |
(MI) |
on 06/07/1933 |
- Fiscal Code : MLGSRG33L06F205Y |
|
|
|
Residence : |
Via |
Piave |
, 0134 |
- 21047 |
Saronno |
(VA) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
10/07/1979 |
|
|
|
|
No Protests
registered |
|
|
Sartirana |
Mauro Antonio |
|
|
|
Born in Milano |
(MI) |
on 13/08/1968 |
- Fiscal Code : SRTMNT68M13F205K |
|
|
|
Residence : |
Via |
Bareggio |
, 21 |
- 20090 |
Cusago |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
29/02/1988 |
|
|
|
|
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 |
|
SARMA S.R.L. |
Milano - IT - |
03586000154 |
28.750 .Eur |
57,50 |
|
Sartirana Luigi |
Milano - IT - |
SRTLGU38E23F205P |
10.000 .Eur |
20,00 |
|
Sartirana Mauro Antonio |
Cusago - IT - |
SRTMNT68M13F205K |
8.375 .Eur |
16,75 |
|
Morganti Andrea |
|
MRGNDR67L17F205Y |
2.875 .Eur |
5,75 |
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 26/10/1972 |
|
|
|
|
|
Via |
Giorgio Stephenson |
, 32 |
- 20019 |
- Settimo Milanese |
(MI) |
- IT - |
|
|
|
|
PHONE |
: 02/47995405 |
|
|
|
|
PHONE |
: 02/33512210 |
|
|
|
|
FAX |
: 02/3284869 |
|
|
|
|
Employees |
: 28 |
|
Fittings and Equipment for a value of
49.000 |
Eur |
|
Stocks for a value of 2.190.000 |
Eur |
|
Vehicles for a value of 22.000 |
Eur |
|
|
The firm operates abroad as importer /
exporter. .
To purchase foreign products the firm uses
the following channels :
|
- direct orders to foreign companies |
Export represents from 20% to 50% of the
global turnover.
Products abroad are placed by :
|
- importers |
|
- its own agents |
|
- direct orders from foreign companies |
Import comes generally from the following
nations:
|
- Grecia |
|
- Irlanda |
|
- Somalia |
Export is mainly towards:
|
- Grecia |
|
- Irlanda |
|
- Somalia |
Historical Information and/or Firm's Status
EX-MEMBERS /
EX-POSITIONS:
|
|
Oggioni |
Giuseppe Adriano
|
|
|
|
Born in Milano |
on 08/07/1958 |
- Fiscal Code : GGNGPP58L08F205C |
|
|
|
Residence : |
Via |
Lanfranco Della Pila |
, 27 |
- 20162 |
Milano |
(MI) |
- IT - |
|
Ex-Postions |
|
Permanent Auditor |
|
|
Bigoni |
Federico |
|
|
|
Born in Lecco |
on 04/07/1959 |
- Fiscal Code : BGNFRC59L04E507G |
|
|
|
Residence : |
Piazza |
Risorgimento |
, 8 |
- 20100 |
Milano |
(MI) |
- IT - |
|
Ex-Postions |
|
Chairman of the Board of Aud. |
|
|
Ossoli |
Giorgio |
|
|
|
Born in Milano |
on 26/01/1961 |
- Fiscal Code : SSLGRG61A26F205H |
|
|
|
Residence : |
Via |
Sentiero Del Dragone |
, 33 |
- 20026 |
Novate Milanese |
(MI) |
- IT - |
|
Ex-Postions |
|
Temporary Auditor |
|
|
Tagliabue |
Carlo |
|
|
|
Born in Paderno Dugnano |
on 13/10/1964 |
- Fiscal Code : TGLCRL64R13G220Q |
|
|
|
Residence : |
Via |
Cesare Acquati |
, 26 |
- 20032 |
Cormano |
(MI) |
- IT - |
|
Ex-Postions |
|
Permanent Auditor |
|
|
Terragni |
Mauro |
|
|
|
Born in Novate Milanese |
on 26/05/1954 |
- Fiscal Code : TRRMRA54E26F955Q |
|
|
|
Residence : |
Via |
Giuseppe Giusti |
, 14 |
- 20026 |
Novate Milanese |
(MI) |
- IT - |
|
Ex-Postions |
|
Temporary Auditor |
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 1972.
The analysis is based on the latest 3
balance sheets.
Unstable economic results mark the company's
financial state of affairs. ; in the last financial year a loss was registered
(r.o.e. -19,27%) Business volume is falling in the last financial year.
The operating result is negative.
The operating loss is equal to Eur.
-315.767.
The gross operating margin for the fiscal
year 2010 is negative, for an amount of Eur. -229.994.
The financial status of the company is
fairly balanced with an indebtedness level of 1,14 with an improving trend as
on the decrease.
With regard to equity capital, an amount of
Eur. 2.020.875 is registered. , unchanged if compared to 2009.
The financial management has recorded total
debts amounting to Eur. 2.360.661, , with a fall of -28,43%.
The company does not exceed in bank
borrowings; the recourse to suppliers' credit is also limited which turns out
to be lined up with the sector.
The management determines a good range of
liquidity.
Credits are collected in 73,98 days on the
average. , value within the sector's average.
A negative cash flow marked the year 2010
totalling Eur. -303.575.
During 2010 financial year labour costs
amounted to Eur. 1.046.994, with a 13,34% incidence on production costs. ,
whereas the incidence on sales revenues is of 13,9%.
Financial charges have a limited incidence
(-0,88%) on sales volume.
Financial Data
|
|
|
Complete balance-sheet for the year |
30/09/2010 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
7.530.865 |
|
Profit (Loss) for the period |
-389.348 |
|
|
|
Complete balance-sheet for the year |
30/09/2009 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
8.198.757 |
|
Profit (Loss) for the period |
-152.584 |
|
|
|
Complete balance-sheet for the year |
30/09/2008 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
8.659.474 |
|
Profit (Loss) for the period |
8.298 |
|
|
|
Complete balance-sheet for the year |
30/09/2007 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
8.399.041 |
|
Profit (Loss) for the period |
-22.724 |
|
|
|
Complete balance-sheet for the year |
30/09/2006 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
8.179.389 |
|
Profit (Loss) for the period |
58.513 |
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 30/09/2010 - 12 Mesi - Currency: Eur - Amounts x 1 |
|
- Balance Sheet
as at 30/09/2009 - 12 Mesi - Currency: Eur - Amounts x 1 |
|
- Balance Sheet
as at 30/09/2008 - 12 Mesi - Currency: Eur - Amounts x 1 |
|
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|
|
RATIOS |
Value Type |
as at 30/09/2010 |
as at 30/09/2009 |
as at 30/09/2008 |
Sector Average |
|
COMPOSITION ON
INVESTMENT |
|
|
|
|
|
|
Rigidity Ratio |
Units |
0,01 |
0,02 |
0,02 |
0,08 |
|
Elasticity Ratio |
Units |
0,98 |
0,97 |
0,95 |
0,90 |
|
Availability of stock |
Units |
0,45 |
0,48 |
0,45 |
0,21 |
|
Total Liquidity Ratio |
Units |
0,52 |
0,49 |
0,50 |
0,63 |
|
Quick Ratio |
Units |
0,01 |
0,00 |
0,00 |
0,03 |
|
COMPOSITION ON
SOURCE |
|
|
|
|
|
|
Net Short-term indebtedness |
Units |
1,14 |
1,36 |
1,11 |
4,07 |
|
Self Financing Ratio |
Units |
0,42 |
0,39 |
0,43 |
0,16 |
|
Capital protection Ratio |
Units |
1,17 |
1,04 |
0,97 |
0,62 |
|
Liabilities consolidation quotient |
Units |
0,13 |
0,08 |
0,09 |
0,10 |
|
Financing |
Units |
1,17 |
1,37 |
1,12 |
4,82 |
|
Permanent Indebtedness Ratio |
Units |
0,48 |
0,44 |
0,48 |
0,27 |
|
M/L term Debts Ratio |
Units |
0,06 |
0,05 |
0,04 |
0,06 |
|
Net Financial Indebtedness Ratio |
Units |
0,46 |
0,76 |
0,63 |
0,66 |
|
CORRELATION |
|
|
|
|
|
|
Fixed assets ratio |
Units |
35,91 |
24,64 |
19,96 |
2,78 |
|
Current ratio |
Units |
1,99 |
1,80 |
1,94 |
1,23 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
1,06 |
0,91 |
1,01 |
0,92 |
|
Structure's primary quotient |
Units |
31,20 |
22,09 |
18,11 |
1,73 |
|
Treasury's primary quotient |
Units |
0,02 |
0,00 |
0,00 |
0,06 |
|
Rate of indebtedness ( Leverage ) |
% |
237,99 |
253,71 |
227,50 |
622,92 |
|
Current Capital ( net ) |
Value |
2.330.468 |
2.632.206 |
2.723.128 |
235.111 |
|
RETURN |
|
|
|
|
|
|
Return on Sales |
% |
- 4,03 |
- 0,76 |
1,12 |
2,50 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
- 19,27 |
- 6,33 |
0,32 |
10,75 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
- 18,90 |
- 4,86 |
4,53 |
30,13 |
|
Return on Investment ( R.O.I. ) |
% |
- 6,57 |
- 0,34 |
4,00 |
5,93 |
|
Return/ Sales |
% |
- 4,19 |
- 0,26 |
2,69 |
4,23 |
|
Extra Management revenues/charges incid. |
% |
n.c. |
n.c. |
3,55 |
31,31 |
|
Cash Flow |
Value |
-303.575 |
-62.267 |
97.090 |
61.603 |
|
Operating Profit |
Value |
-315.767 |
-20.946 |
233.658 |
100.723 |
|
Gross Operating Margin |
Value |
-229.994 |
69.371 |
322.450 |
141.744 |
|
MANAGEMENT |
|
|
|
|
|
|
Credits to clients average term |
Days |
73,98 |
88,00 |
80,53 |
126,97 |
|
Debts to suppliers average term |
Days |
77,97 |
67,04 |
54,97 |
150,54 |
|
Average stock waiting period |
Days |
104,59 |
129,28 |
110,91 |
54,95 |
|
Rate of capital employed return ( Turnover
) |
Units |
1,57 |
1,34 |
1,48 |
1,43 |
|
Rate of stock return |
Units |
3,44 |
2,78 |
3,24 |
6,52 |
|
Labour cost incidence |
% |
13,90 |
12,67 |
12,19 |
8,41 |
|
Net financial revenues/ charges incidence |
% |
- 0,88 |
- 1,25 |
- 1,29 |
- 0,86 |
|
Labour cost on purchasing expenses |
% |
13,34 |
12,64 |
12,53 |
8,72 |
|
Short-term financing charges |
% |
3,15 |
3,21 |
3,87 |
2,17 |
|
Capital on hand |
% |
63,86 |
74,58 |
67,33 |
69,54 |
|
Sales pro employee |
Value |
268.959 |
292.812 |
270.608 |
432.037 |
|
Labour cost pro employee |
Value |
37.392 |
37.108 |
32.998 |
34.348 |
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:
250.000 Eur.
Market / Territory Data
|
Population living in the province |
: |
3.839.216 |
|
Population living in the region |
: |
9.393.092 |
|
Number of families in the region |
: |
3.858.736 |
Monthly family expenses 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 2.551
significant companies.
The companies cash their credits on an
average of 126 dd.
The average duration of suppliers debts is
about 150 dd.
The sector's profitability is on an average
of 2,50%.
The labour cost affects the turnover in the
measure of 8,41%.
Goods are held in stock in a range of 54 dd.
The difference between the sales volume and
the resources used to realize it is about 1,43.
The employees costs represent the 8,72% 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 24.765.
The insolvency index for the region is 0,55,
, while for the province it is 0,66.
Total Bankrupt companies in the province :
22.523.
Total Bankrupt companies in the region :
39.612.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.10 |
|
UK Pound |
1 |
Rs.74.27 |
|
Euro |
1 |
Rs.64.35 |
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.