MIRA INFORM REPORT

 

 

Report Date :           

27.09.2011

 

IDENTIFICATION DETAILS

 

Name :

INCO INDUSTRIA COLORI S.R.L.

 

 

Registered Office :

Via Montebonello, 19/21 Madonna Baldaccini,

41026- Pavullo nel Frignano (MO)

 

 

Country :

Italy

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

22.07.1987

 

 

Com. Reg. No.:

MO023-37570 since 19/02/1996

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Manufacture of paints, varnishes and similar coatings, printing ink and synthetic adhesives

 

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 :

300.000 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 – March 31st, 2011

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

Germany

a1

a1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

Company name & address  

 

Inco Industria Colori S.r.l.

 

Via Montebonello, 19/21 Madonna Baldaccini

 

41026 - Pavullo nel Frignano  (MO) -IT-

 

 

Summary

 

Fiscal Code

:

01304030354

Legal Form

:

Limited liability company

start of Activities

:

22/07/1987

Equity

:

Over 2.582.254 Eur

Turnover Range

:

25.000.000/35.000.000 Eur

Number of Employees

:

from 36 to 50

 

 

Credit Analysis

 

Credit Opinion

:

300.000 - Eur

 

Activity

 

Manufacture of paints, varnishes and similar coatings, printing ink and synthetic adhesives

 

Legal Data

 

Legal Form : Limited liability company

Fiscal Code : 01304030354

 

Foreign Trade Reg. no. : MO021244 since 15/04/1994

 

Foreign Trade Reg. no. : 21244 of Modena since 15/04/1994

 

Chamber of Commerce no. : 243106 of Modena since 17/11/1987

 

Firms' Register : MO023-37570 since 19/02/1996

 

V.A.T. Code : 02138040361

 

Tribunal Co. Register : 37570 of Modena since 03/12/1992

 

Foundation date

: 22/07/1987

Establishment date

: 22/07/1987

Start of Activities

: 22/07/1987

Legal duration

: 31/12/2030

Nominal Capital

: 416.000

Eur

Subscribed Capital

: 416.000

Eur

Paid up Capital

: 416.000

Eur

 

 

Members

 

Lami

Angelo

 

 

Born in Fiorano Modenese

(MO)

on 16/04/1943

- Fiscal Code : LMANGL43D16D607W

 

 

Residence :

Via

C. Pirazzini

, 4

- 41042

Pavullo nel Frignano

(MO)

- IT -

 

Position

Since

Shares Amount

% Ownership

Director

27/05/2009

 

 

Board Chairman

27/05/2009

 

 

 

No Protests registered

 

Spaccini

Colombo

 

 

Born in Marsciano

(PG)

on 23/11/1939

- Fiscal Code : SPCCMB39S23E975F

 

 

Residence :

Via

Dello Zodiaco

, 85

- 41100

Modena

(MO)

- IT -

 

Position

Since

Shares Amount

% Ownership

Director

27/05/2009

 

 

 

No Protests registered

 

Minelli

Arcisa

 

 

Born in Pavullo nel Frignano

(MO)

on 14/03/1952

- Fiscal Code : MNLRCS52C54G393I

 

 

Residence :

Via

Pirazzini

, 4

- 41026

Pavullo nel Frignano

(MO)

- IT -

 

Position

Since

Shares Amount

% Ownership

Director

27/05/2009

 

 

 

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.

 

LAMI

ANGELO

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

CASEIFICIO SOCIALE CASA BOSI SOCIETA' AGRICOLA COOPERATIVA ABBREVIABILE IN CAS.

Pavullo nel Frignano (MO) - IT -

00170390363

Director

Active

Registered

CASEIFICIO SOCIALE CASA BOSI SOCIETA' AGRICOLA COOPERATIVA ABBREVIABILE IN CAS.

Pavullo nel Frignano (MO) - IT -

00170390363

Board Chairman

Active

Registered

IL PINONE DI MINELLI ARCISA E C.-SOCIETA' IN ACCOMANDITA SEMPLICE

Pavullo nel Frignano (MO) - IT -

01050030368

Limited Partner

Active

Registered

SIRIO S.R.L.

Pavullo nel Frignano (MO) - IT -

02148750363

Sole Director

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

Lami Angelo

Pavullo nel Frignano - IT -

LMANGL43D16D607W

166.400 .Eur

40,00

Spaccini Colombo

Modena - IT -

SPCCMB39S23E975F

145.600 .Eur

35,00

Morandi Giovanni

 

MRNGNN43H24I462G

104.000 .Eur

25,00

 

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 26/09/1992

 

 

 

 

 

Via

Montebonello

, 19-21

- 41026

- Pavullo nel Frignano

(MO)

- IT -

 

 

 

 

PHONE

: 0536/51021

 

 

 

 

Employees

: 45

 

Fittings and Equipment for a value of 1.280.000

Eur

 

Stocks for a value of 2.560.000

Eur

 

for a value of 57.000

Eur

 

Vehicles for a value of 17.000

Eur

 

for a value of 31.000

Eur

 

 

 

Historical Information and/or Firm's Status

 

EX-MEMBERS / EX-POSITIONS:

 

Lami

Angelo

 

 

Born in Fiorano Modenese

on 16/04/1943

- Fiscal Code : LMANGL43D16D607W

 

 

Residence :

Via

C. Pirazzini

, 4

- 41042

Pavullo nel Frignano

(MO)

- IT -

 

Ex-Postions

Sole Director

 

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 1987.

The economic-financial analysis has been made on the base of the b/s of the latests three years.

Under an economic point of view, profits were registered during the last years with a r.o.e. of 2,23% in 2010 and with an upward trend in turnover trend during the last financial year (+37,79% in 2010).

The operating result was positive in the last financial year (4,07%) and reflects the field's average.

The amount of the operating result for the year 2010 is of Eur. 1.245.308 showing an upward trend more then 100% compared to the previous financial year.

The G.O.M. amounted to Eur. 2.692.503 showing a 65,95% growth.

Very good financial situation: shareholder's equity covers short-terms debts with an indebtedness level equal to 0,79 which is yet rising if compared to 2009.

The equity capital is equal to Eur. 14.089.267 , stable in comparison with the value of the previous year.

During the last financial year total debts volume reached Eur. 15.347.638 (Eur. 2.801.261 were m/l term ones) on the same levels as the year before.

The company does not exceed in bank credits; payments average period is instead slightly high (137,46 gg.) and higher than sector's average.

Liquidity is good (1,61)

Due from customers average term is high and equal to 189,23 days. also in relation to the average of the sector.

2010 financial year closed with a cash flow of Eur. 1.760.914

Labour cost amounts to Eur. 1.486.386, with a 5,41% incidence on production costs. , whereas 5,14% is the incidence on sales revenues.

High incidence of financial charges on turnover.


Financial Data

 

 

Complete balance-sheet for the year

31/12/2010

(in Eur

x 1 )

 

Item Type

Value

Sales

28.934.545

Profit (Loss) for the period

313.909

 

 

Complete balance-sheet for the year

31/12/2009

(in Eur

x 1 )

 

Item Type

Value

Sales

20.997.515

Profit (Loss) for the period

28.562

 

 

Complete balance-sheet for the year

31/12/2008

(in Eur

x 1 )

 

Item Type

Value

Sales

30.726.680

Profit (Loss) for the period

278.010

 

 

Complete balance-sheet for the year

31/12/2007

(in Eur

x 1 )

 

Item Type

Value

Sales

27.721.266

Profit (Loss) for the period

238.962

 

 

Complete balance-sheet for the year

31/12/2006

(in Eur

x 1 )

 

Item Type

Value

Sales

26.794.262

Profit (Loss) for the period

175.230


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 31/12/2010 - 12 Mesi - Currency: Eur - Amounts x 1

 

- 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

 

Years

2010

2009

2008

BALANCE SHEET ACCOUNTS

 

ASSETS

 

 

 

CREDITS VS PARTNERS

 

 

 

. Deposits not yet withdrawn

 

 

 

. Deposits already withdrawn

 

 

 

Total credits vs partners

 

 

 

FIXED ASSETS

 

 

 

. INTANGIBLE FIXED ASSETS

 

 

 

. . Start-up and expansion expenses

 

 

456.337

. . Research,develop. and advert.expens.

 

469

2.016

. . Industrial patent rights

 

 

305

. . Concessions,licenses,trademarks,etc.

 

 

 

. . Goodwill

 

 

 

. . Assets in formation and advance paymen.

 

 

 

. . Other intangible fixed assets

268.580

357.033

 

. Total Intangible Fixed Assets

268.580

357.502

458.658

. TANGIBLE FIXED ASSETS

 

 

 

. . Real estate

7.211.897

7.603.739

8.079.183

. . Plant and machinery

896.312

1.102.105

1.501.453

. . Industrial and commercial equipment

383.116

267.544

289.241

. . Other assets

47.681

45.037

58.691

. . Assets under construction and advances

 

 

 

. Total Tangible fixed assets

8.539.006

9.018.425

9.928.568

. FINANCIAL FIXED ASSETS

 

 

 

. . Equity investments

865.857

865.857

865.857

. . . Equity invest. in subsidiary companies

 

 

 

. . . Equity invest. in associated companies

865.857

865.857

865.857

. . . Equity invest. in holding companies

 

 

 

. . . Equity invest. in other companies

 

 

 

. . Financial receivables

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . . Receivab due from subsidiaries

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . . Receivables due from assoc.comp.

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . . Receivables due from holding comp.

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . . Receivables due from third parties

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Other securities

 

 

 

. . Own shares

 

 

 

. . . Total nominal value

 

 

 

. Total financial fixed assets

865.857

865.857

865.857

Total fixed assets

9.673.443

10.241.784

11.253.083

CURRENT ASSETS

 

 

 

. INVENTORIES

 

 

 

. . Raw materials and other consumables

 

 

3.720.980

. . Work in progress and semimanufactured

2.484.072

2.889.248

 

. . Work in progress on order

 

 

 

. . Finished goods

 

 

 

. . Advance payments

71.819

166.461

93.321

. Total Inventories

2.555.891

3.055.709

3.814.301

. CREDITS NOT HELD AS FIXED ASSETS

 

 

 

. . Within 12 months

16.298.009

13.796.594

13.884.933

. . Beyond 12 months

14.296

14.296

343.627

. . Trade receivables

15.209.281

13.347.428

13.776.429

. . . . Within 12 months

15.209.281

13.347.428

13.447.098

. . . . Beyond 12 months

 

 

329.331

. . Receivables due from subsid. comp.

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Receivables due from assoc. comp.

241.602

69.992

32.636

. . . . Within 12 months

241.602

69.992

32.636

. . . . Beyond 12 months

 

 

 

. . Receivables due from holding comp.

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Fiscal Receivables

341.932

2.493

281.396

. . . . Within 12 months

341.932

2.493

281.396

. . . . Beyond 12 months

 

 

 

. . Receivables for anticipated taxes

406.936

188.162

119.952

. . . . Within 12 months

406.936

188.162

119.952

. . . . Beyond 12 months

 

 

 

. . Receivables due from third parties

112.554

202.815

18.147

. . . . Within 12 months

98.258

188.519

3.851

. . . . Beyond 12 months

14.296

14.296

14.296

. Total Credits not held as fixed assets

16.312.305

13.810.890

14.228.560

. FINANCIAL ASSETS

 

 

 

. . Equity invest. in subsidiary comp.

 

 

 

. . Equity invest. in associated companies

 

 

 

. . Equity invest. in holding companies

 

 

 

. . Other equity investments

 

 

 

. . Own shares

 

 

 

. . . Total nominale value

 

 

 

. . Other securities

 

 

 

. Total Financial Assets

 

 

 

. LIQUID FUNDS

 

 

 

. . Bank and post office deposits

1.284.546

1.010.195

944.907

. . Checks

75.000

 

 

. . Banknotes and coins

4.119

3.189

3.276

. Total Liquid funds

1.363.665

1.013.384

948.183

Total current assets

20.231.861

17.879.983

18.991.044

ADJUSTMENT ACCOUNTS

 

 

 

. Discount on loans

 

 

 

. Other adjustment accounts

669.197

672.163

680.945

Total adjustments accounts

669.197

672.163

680.945

TOTAL ASSETS

30.574.501

28.793.930

30.925.072

 

 

 

 

LIABILITIES

 

 

 

STOCKHOLDERS' EQUITY

 

 

 

. Capital stock

416.000

416.000

416.000

. Additional paid-in capital

 

 

 

. Revaluation reserves

8.438.981

8.438.981

8.438.981

. Legal reserve

83.200

83.200

83.200

. Reserve for Own shares

 

 

 

. Statute reserves

 

 

 

. Other reserves

4.837.177

4.808.616

4.530.602

. Accumulated Profits (Losses)

 

 

 

. Profit( loss) of the year

313.909

28.562

278.010

. Advances on dividends

 

 

 

. Partial loss of the year Coverage

 

 

 

Total Stockholders'Equity

14.089.267

13.775.359

13.746.793

RESERVES FOR RISKS AND CHARGES

 

 

 

. . Reserve for employee termination indem.

 

 

 

. . Taxation fund, also differed

31.208

57.243

 

. . Other funds

 

 

 

Total Reserves for Risks and Charges

31.208

57.243

 

Employee termination indemnities

455.903

413.318

393.833

ACCOUNTS PAYABLE

 

 

 

. . . . Within 12 months

12.546.377

11.096.284

11.867.419

. . . . Beyond 12 months

2.801.261

2.904.991

4.389.916

. . Bonds

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Convertible bonds repayable

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Due to shareholders for financing

619.232

619.232

619.232

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

619.232

619.232

619.232

. . Due to banks

4.349.857

3.977.695

5.089.228

. . . . Within 12 months

2.167.828

1.691.936

1.318.544

. . . . Beyond 12 months

2.182.029

2.285.759

3.770.684

. . Due to other providers of finance

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Advances from customers

43.250

17.045

 

. . . . Within 12 months

43.250

17.045

 

. . . . Beyond 12 months

 

 

 

. . Trade payables

9.257.546

8.176.437

9.428.718

. . . . Within 12 months

9.257.546

8.176.437

9.428.718

. . . . Beyond 12 months

 

 

 

. . Securities issued

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Due to subsidiary companies

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Due to associated companies

 

374.800

 

. . . . Within 12 months

 

374.800

 

. . . . Beyond 12 months

 

 

 

. . Due to holding companies

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Due to the tax authorities

909.066

639.451

945.548

. . . . Within 12 months

909.066

639.451

945.548

. . . . Beyond 12 months

 

 

 

. . Due to social security and welfare inst.

80.359

68.704

85.042

. . . . Within 12 months

80.359

68.704

85.042

. . . . Beyond 12 months

 

 

 

. . Other payables

88.328

127.911

89.567

. . . . Within 12 months

88.328

127.911

89.567

. . . . Beyond 12 months

 

 

 

Total accounts payable

15.347.638

14.001.275

16.257.335

ADJUSTMENT ACCOUNTS

 

 

 

. Agio on loans

 

 

 

. Other adjustment accounts

650.485

546.735

527.111

Total adjustment accounts

650.485

546.735

527.111

TOTAL LIABILITIES

30.574.501

28.793.930

30.925.072

 

 

 

 

 

 

MEMORANDUM ACCOUNTS

 

Third party goods

 

 

 

Investment accounts

 

 

 

Risk accounts

 

 

 

Civil and fiscal norms relation

 

 

 

 

 

 

 

 

 

PROFIT AND LOSS ACCOUNTS

 

VALUE OF PRODUCTION

 

 

 

. Revenues from sales and services

28.934.545

20.997.515

30.726.680

. Changes in work in progress

-420.201

-831.733

-1.364.370

. Changes in semi-manufact. products

 

 

 

. Capitalization of internal work

28.902

26.250

 

. Other income and revenues

156.536

44.798

206.125

. . Contributions for operating expenses

21.186

32.383

185.998

. . Different income and revenues

135.350

12.415

20.127

Total value of production

28.699.782

20.236.830

29.568.435

PRODUCTION COSTS

 

 

 

. Raw material,other materials and consum.

20.054.134

13.428.787

22.220.586

. Services received

3.808.108

3.009.401

3.434.694

. Leases and rentals

381.988

386.076

448.400

. Payroll and related costs

1.486.386

1.364.414

1.509.429

. . Wages and salaries

1.012.771

924.218

1.020.525

. . Social security contributions

364.416

334.815

365.755

. . Employee termination indemnities

84.971

80.897

81.561

. . Pension and similar

 

 

 

. . Other costs

24.228

24.484

41.588

. Amortization and depreciation

1.447.005

1.262.703

827.506

. . Amortization of intangible fixed assets

111.045

113.856

120.069

. . Amortization of tangible fixed assets

1.002.239

1.033.074

566.187

. . Depreciation of tangible fixed assets

 

 

 

. . Writedown of current receiv.and of liquid

333.721

115.773

141.250

. Changes in raw materials

 

 

 

. Provisions to risk reserves

19.018

 

 

. Other provisions

 

 

 

. Other operating costs

257.835

425.759

456.031

Total production costs

27.454.474

19.877.140

28.896.646

Diff. between value and cost of product.

1.245.308

359.690

671.789

FINANCIAL INCOME AND EXPENSE

 

 

 

. Income from equity investments

 

 

 

. . In subsidiary companies

 

 

 

. . In associated companies

 

 

 

. . In other companies

 

 

 

. Other financial income

3.104

5.913

8.886

. . Financ.income from receivables

 

 

 

. . . Towards subsidiary companies

 

 

 

. . . Towards associated companies

 

 

 

. . . Towards holding companies

 

 

 

. . . Towards other companies

 

 

 

. . Financ.income from secur. t.f.assets

 

 

 

. . Financ.income from secur. cur.assets

 

 

 

. . Financ.income other than the above

3.104

5.913

8.886

. . . - Subsidiary companies

 

 

 

. . . - Associated companies

 

 

 

. . . - Holding companies

 

 

 

. . . - Other companies

 

 

 

. Interest and other financial expense

-583.647

-153.326

-261.027

. . Towards subsidiary companies

 

 

 

. . Towards associated companies

 

 

 

. . Towards holding companies

 

 

 

. . Towards other companies

 

 

 

Total financial income and expense

-580.543

-147.413

-252.141

ADJUSTMENTS TO FINANCIAL ASSETS

 

 

 

. Revaluations

 

 

 

. . Of equity investments

 

 

 

. . Of financ.fixed assets not repres.E.I.

 

 

 

. . Of securities incl.among current assets

 

 

 

. Devaluation

 

 

 

. . Of equity investments

 

 

 

. . Of financial fixed assets (no equity inv)

 

 

 

. . Of securities included among current ass

 

 

 

Total adjustments to financial assets

 

 

 

EXTRAORDINARY INCOME AND EXPENSE

 

 

 

. Extraordinary income

12.615

9.609

62.577

. . Gains on disposals

 

 

 

. . Other extraordinary income

12.615

9.609

62.577

. Extraordinary expense

-75.993

-61.108

-79.158

. . Losses on disposals

 

 

 

. . Taxes relating to prior years

 

 

 

. . Other extraordinary expense

-75.993

-61.108

-79.158

Total extraordinary income and expense

-63.378

-51.499

-16.581

Results before income taxes

601.387

160.778

403.067

. Taxes on current income

287.478

132.216

125.057

. . current taxes

551.305

143.183

 

. . differed taxes(anticip.)

-263.827

-10.967

 

. Net income for the period

313.909

28.562

278.010

. Adjustments in tax regulations pursuance

 

 

 

. Provisions in tax regulations pursuance

 

 

 

. Profit (loss) of the year

313.909

28.562

278.010

 

RATIOS

Value Type

as at 31/12/2010

as at 31/12/2009

as at 31/12/2008

Sector Average

COMPOSITION ON INVESTMENT

 

 

 

 

 

Rigidity Ratio

Units

0,32

0,36

0,36

0,29

Elasticity Ratio

Units

0,66

0,62

0,61

0,70

Availability of stock

Units

0,08

0,11

0,12

0,16

Total Liquidity Ratio

Units

0,58

0,51

0,49

0,51

Quick Ratio

Units

0,04

0,04

0,03

0,02

COMPOSITION ON SOURCE

 

 

 

 

 

Net Short-term indebtedness

Units

0,79

0,73

0,79

1,70

Self Financing Ratio

Units

0,46

0,48

0,44

0,25

Capital protection Ratio

Units

0,95

0,97

0,95

0,74

Liabilities consolidation quotient

Units

0,26

0,30

0,40

0,25

Financing

Units

1,09

1,02

1,18

2,65

Permanent Indebtedness Ratio

Units

0,57

0,59

0,60

0,47

M/L term Debts Ratio

Units

0,11

0,12

0,15

0,15

Net Financial Indebtedness Ratio

Units

0,26

0,26

0,35

1,09

CORRELATION

 

 

 

 

 

Fixed assets ratio

Units

1,79

1,67

1,65

1,41

Current ratio

Units

1,61

1,61

1,60

1,33

Acid Test Ratio-Liquidity Ratio

Units

1,41

1,34

1,28

1,01

Structure's primary quotient

Units

1,46

1,35

1,22

0,80

Treasury's primary quotient

Units

0,11

0,09

0,08

0,03

Rate of indebtedness ( Leverage )

%

217,01

209,02

224,96

397,48

Current Capital ( net )

Value

7.685.484

6.783.699

7.123.625

426.243

RETURN

 

 

 

 

 

Return on Sales

%

6,09

6,15

3,60

4,43

Return on Equity - Net- ( R.O.E. )

%

2,23

0,21

2,02

2,69

Return on Equity - Gross - ( R.O.E. )

%

4,27

1,17

2,93

7,32

Return on Investment ( R.O.I. )

%

4,07

1,25

2,17

3,84

Return/ Sales

%

4,30

1,71

2,19

4,21

Extra Management revenues/charges incid.

%

25,21

7,94

41,38

38,95

Cash Flow

Value

1.760.914

1.291.265

1.105.516

207.698

Operating Profit

Value

1.245.308

359.690

671.789

192.997

Gross Operating Margin

Value

2.692.503

1.622.393

1.499.295

422.876

MANAGEMENT

 

 

 

 

 

Credits to clients average term

Days

189,23

228,84

161,41

130,87

Debts to suppliers average term

Days

137,46

182,98

130,03

110,41

Average stock waiting period

Days

31,80

52,39

44,69

50,99

Rate of capital employed return ( Turnover )

Units

0,95

0,73

0,99

1,00

Rate of stock return

Units

11,32

6,87

8,06

7,04

Labour cost incidence

%

5,14

6,50

4,91

13,96

Net financial revenues/ charges incidence

%

- 2,01

- 0,70

- 0,82

- 1,78

Labour cost on purchasing expenses

%

5,41

6,86

5,22

14,31

Short-term financing charges

%

3,80

1,10

1,61

2,92

Capital on hand

%

105,67

137,13

100,65

100,22

Sales pro employee

Value

567.344

488.314

714.573

280.328

Labour cost pro employee

Value

29.144

31.730

35.103

35.421

 

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:

 

300.000Eur.

 

Market / Territory Data

 

Population living in the province

:

659.925

Population living in the region

:

4.151.369

Number of families in the region

:

1.748.359

 

Monthly family expenses average in the region (in Eur.) :

 

- per food products

:

425

- per non food products

:

2.063

- per energy consume

:

143

Sector Data

 

The values are calculated on a base of 329 significant companies.

The companies cash their credits on an average of 130 dd.

The average duration of suppliers debts is about 110 dd.

The sector's profitability is on an average of 4,43%.

The labour cost affects the turnover in the measure of 13,96%.

Goods are held in stock in a range of 50 dd.

The difference between the sales volume and the resources used to realize it is about 1,00.

The employees costs represent the 14,31% of the production costs.

 

Statistical Detrimental Data

 

The area is statistically considered lowly risky.

In the region 18.860 protested subjects are found; in the province they count to 3.557.

The insolvency index for the region is 0,46, , while for the province it is 0,55.

Total Bankrupt companies in the province : 2.526.

Total Bankrupt companies in the region : 14.698.

 Bottom of Form

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.62

UK Pound

1

Rs.76.68

Euro

1

Rs.66.47

 

 

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%)

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.