MIRA INFORM REPORT

 

 

Report Date :

30.08.2012

 

IDENTIFICATION DETAILS

 

Name :

BIANCO S.P.A.

 

 

Registered Office :

Viale Industria, 4 12051 – Alba (CN)  -IT-

 

 

Country :

Italy

 

 

Financials (as on) :

30.09.2010

 

 

Date of Incorporation :

26.01.1999

 

 

Legal Form :

Joint Stock Company With Sole Shareholder

 

 

Line of Business :

Manufacture of textile machinery, machinery and systems for auxiliary treatment of textiles, sewing and weaving machines

 

 

No. of Employees :

58

 

 

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

 

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, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

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 and address

 

Bianco S.p.A.

 

Viale

Industria,

4

 

12051

- Alba

(CN)

-IT-

 

 

Summary

 

Fiscal Code

:

02683390047

Legal Form

:

Joint stock company with sole shareholder

start of Activities

:

01/03/1999

Equity

:

2.500.000 Eur

Turnover Range

:

12.750.000/15.500.000 Eur

Number of Employees

:

from 51 to 70

 

 

Activity

 

Manufacture of textile machinery, machinery and systems for auxiliary treatment of textiles, sewing and weaving machines (including spare parts and accessories)

 

 

Legal Data

 

Legal Form : Joint stock company with sole shareholder

Fiscal Code : 02683390047

 

Chamber of Commerce no. : 228013 of Cuneo since 22/02/1999

 

Firms' Register : CN-1999-10366 since 01/03/1999

 

V.A.T. Code : 02683390047

 

Establishment date

: 26/01/1999

Start of Activities

: 01/03/1999

Legal duration

: 31/12/2050

Nominal Capital

: 1.000.000

Eur

Subscribed Capital

: 1.000.000

Eur

Paid up Capital

: 1.000.000

Eur

 

 

Members

 

 

Tcn S.r.l.

 

 

 

 

Via

Industria

, 5

- 12062

Cherasco

(CN)

- IT -

 

Position

Since

Shares Amount

% Ownership

Sole partner

 

 

 

 

 

No Protests registered

 

 

Bernocco

Giuseppe

 

 

 

Born in Bra

(CN)

on 23/09/1969

- Fiscal Code : BRNGPP69P23B111V

 

 

 

Residence :

Via

Industria

, 1 SUB. A

- 12062

Cherasco

(CN)

- IT -

 

Position

Since

Shares Amount

% Ownership

Director

14/02/2011

 

 

Board Chairman

14/02/2011

 

 

 

 

No Protests registered

 

 

Borromeo

Stefano

 

 

 

Born in Torino

(TO)

on 16/08/1969

- Fiscal Code : BRRSFN69M16L219J

 

 

 

Residence :

Corso

Re Umberto

, 55

- 10128

Torino

(TO)

- IT -

 

Position

Since

Shares Amount

% Ownership

Managing Director

14/02/2011

 

 

Director

14/02/2011

 

 

 

 

No Protests registered

 

 

Milanesio

Marco

 

 

 

Born in Bra

(CN)

on 03/08/1969

- Fiscal Code : MLNMRC69M03B111S

 

 

 

Residence :

Via

Aldo Moro

, 5

- 12030

Cavallermaggiore

(CN)

- IT -

 

Position

Since

Shares Amount

% Ownership

Procurator

04/04/2005

 

 

 

 

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.

 

 

BERNOCCO

GIUSEPPE

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

TCN S.R.L.

Cherasco (CN) - IT -

02175810049

Director

Active

Registered

TCN S.R.L.

Cherasco (CN) - IT -

02175810049

Board Chairman

Active

Registered

TCN VEHICLES DIVISION SRL SIGLABILE TCN V.D. SRL

Cantarana (AT) - IT -

01285840052

Director

Active

Registered

TCN VEHICLES DIVISION SRL SIGLABILE TCN V.D. SRL

Cantarana (AT) - IT -

01285840052

Board Chairman

Active

Registered

 

 

BORROMEO

STEFANO

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

ING. GUGLIELMINO E FIGLI - S.R.L.

Torino (TO) - IT -

04939760015

Managing Director

Withdrawn

Registered

ING. GUGLIELMINO E FIGLI - S.R.L.

Torino (TO) - IT -

04939760015

Director

Withdrawn

Registered

MEC - DIESEL S.P.A.

Torino (TO) - IT -

07089160019

Managing Director

Withdrawn

Registered

MEC - DIESEL S.P.A.

Torino (TO) - IT -

07089160019

Director

Withdrawn

Registered

SICILMEC S.R.L.

Catania (CT) - IT -

03667720878

Managing Director

Withdrawn

Registered

SICILMEC S.R.L.

Catania (CT) - IT -

03667720878

Director

Withdrawn

Registered

TCN VEHICLES DIVISION SRL SIGLABILE TCN V.D. SRL

Cantarana (AT) - IT -

01285840052

Managing Director

Withdrawn

Registered

TCN VEHICLES DIVISION SRL SIGLABILE TCN V.D. SRL

Cantarana (AT) - IT -

01285840052

Director

Withdrawn

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

Tcn S.r.l.

Cherasco - IT -

02175810049

 

100,00

Direct Participations

 

The Company under review has participations in the following Companies:

 

Firm's Style

Seat

Fiscal Code

Owned Shares Amount

% Ownership

since

until

Share Status

Eltex S.r.l.

Alba - IT -

01825050048

10.329 .Eur

99,99

 

 

Ceased



Firm's location and structure

 

In order to carry out its activities the firm uses the following locations:

 

-

Legal and operative seat

(Workshop )

 

 

 

 

 

Viale

Industria

, 4

- 12051

- Alba

(CN)

- IT -

 

 

 

 

PHONE

: 0173/314111

 

 

 

 

FAX

: 0173/34872

 

 

 

 

Website

: www.bianco-spa.com

 

 

 

 

Employees

: 58

 

Fittings and Equipment for a value of 120.000

Eur

 

Stocks for a value of 3.960.000

Eur

 

 

Historical Information and/or Firm's Status

 

EX-MEMBERS / EX-POSITIONS:

 

 

Brignolo

Gianpaolo

 

 

 

Born in Alba

on 30/04/1961

- Fiscal Code : BRGGPL61D30A124M

 

 

 

Residence :

Via

San Paolo

, 4

- 12051

Alba

(CN)

- IT -

 

Ex-Postions

Temporary Auditor

 

 

Tibaldi

Claudio

 

 

 

Born in Bra

on 21/02/1941

- Fiscal Code : TBLCLD41B21B111Q

 

 

 

Residence :

Via

E. Brizio

, 27/B

- 12042

Bra

(CN)

- IT -

 

Ex-Postions

Chairman of the Board of Aud.

 

 

Rebuffi

Giovanni

 

 

 

Born in Sommariva del Bosco

on 27/02/1954

- Fiscal Code : RBFGNN54B27I822B

 

 

 

Residence :

Via

Principi Di Piemonte

, 4

- 12042

Bra

(CN)

- IT -

 

Ex-Postions

Permanent Auditor

 

 

Rodo

Maria Jose

 

 

 

Born in Camerana

on 30/11/1942

- Fiscal Code : RDOMJS42S70B467H

 

 

 

Residence :

Strada

Cauda

, 110

- 12051

Alba

(CN)

- IT -

 

Ex-Postions

Temporary Auditor

 

 

Stra

Pierpaolo

 

 

 

Born in Alba

on 19/06/1963

- Fiscal Code : STRPPL63H19A124G

 

 

 

Residence :

Localita'

Roccalini

, 7

- 12050

Barbaresco

(CN)

- IT -

 

Ex-Postions

Chairman of the Board of Aud.

 

 

Marchetti

Emanuele

 

 

 

Born in Cuneo

on 13/04/1969

- Fiscal Code : MRCMNL69D13D205N

 

 

 

Residence :

Via

Xxiv Maggio

, 17

- 12030

Cavallermaggiore

(CN)

- IT -

 

Ex-Postions

Temporary Auditor

 

 

Lanzone

Mariangela

 

 

 

Born in Monticello d'Alba

on 27/05/1960

- Fiscal Code : LNZMNG60E67F669Q

 

 

 

Residence :

Corso

Langhe

, 69

- 12051

Alba

(CN)

- IT -

 

Ex-Postions

Director

Sole Director

Board Chairman

 

 

Bellone

Federico

 

 

 

Born in Alba

on 16/09/1967

- Fiscal Code : BLLFRC67P16A124E

 

 

 

Residence :

Via

Pierino Belli

, 27

- 12051

Alba

(CN)

- IT -

 

Ex-Postions

Permanent Auditor

 

 

Busca

Sandra

 

 

 

Born in Alba

on 14/02/1961

- Fiscal Code : BSCSDR61B54A124C

 

 

 

Residence :

Via

G. Chiampo

, 10

- 12051

Alba

(CN)

- IT -

 

Ex-Postions

Permanent Auditor

 

 

Castellengo

Carlo

 

 

 

Born in Alba

on 10/01/1941

- Fiscal Code : CSTCRL41A10A124E

 

 

 

Residence :

Localita'

Altavilla

, 40

- 12051

Alba

(CN)

- IT -

 

Ex-Postions

Temporary Auditor

 

 

Messa

Giuseppe

 

 

 

Born in Pocapaglia

on 15/02/1948

- Fiscal Code : MSSGPP48B15G742F

 

 

 

Residence :

Via

Umberto I

, 64/A

- 12042

Bra

(CN)

- IT -

 

Ex-Postions

Permanent Auditor

 

 

Tintero

Giorgio

 

 

 

Born in Mango

on 12/11/1952

- Fiscal Code : TNTGRG52S12E887M

 

 

 

Residence :

Via

Cavourrina

, 8/D

- 12060

Grinzane Cavour

(CN)

- IT -

 

Ex-Postions

Director

 

 

Lanzetti

Gianfranco

 

 

 

Born in Pocapaglia

on 31/05/1948

- Fiscal Code : LNZGFR48E31G742H

 

 

 

Residence :

Strada

Borgo San Martino

, 6

- 12042

Bra

(CN)

- IT -

 

Ex-Postions

Director

 

 

Costa

Rinaldo

 

 

 

Born in Castino

on 03/05/1949

- Fiscal Code : CSTRLD49E03C323J

 

 

 

Residence :

Localita'

San Cassiano

, 13

- 12051

Alba

(CN)

- IT -

 

Ex-Postions

Director

 

 

Muller

Manfred

 

 

 

Born in Buchholtz

on 17/06/1947

- Fiscal Code : MLLMFR47H17Z112B

 

 

 

Residence :

Piazza

Cottolengo

, 35

- 12040

Corneliano d'Alba

(CN)

- IT -

 

Ex-Postions

Director

 

 

Bernocco

Giuseppe

 

 

 

Born in Bra

on 23/09/1969

- Fiscal Code : BRNGPP69P23B111V

 

 

 

Residence :

Via

Industria

, 1 SUB. A

- 12062

Cherasco

(CN)

- IT -

 

Ex-Postions

Sole Director

 

 

Tibaldi

Bruno

 

 

 

Born in Bra

on 10/09/1966

- Fiscal Code : TBLBRN66P10B111R

 

 

 

Residence :

Via

Vittorio Emanuele Ii

, 321

- 12042

Bra

(CN)

- IT -

 

Ex-Postions

Temporary Auditor

 

 

Costa

Massimo

 

 

 

Born in Alba

on 07/04/1969

- Fiscal Code : CSTMSM69D07A124C

 

 

 

Residence :

Localita'

Toetto

, 31

- 12060

Roddi

(CN)

- IT -

 

Ex-Postions

Permanent Auditor

 

 

Porello

Luciana

 

 

 

Born in Alba

on 02/02/1973

- Fiscal Code : PRLLCN73B42A124P

 

 

 

Residence :

Localita'

Scaparoni

, 11

- 12051

Alba

(CN)

- IT -

 

Ex-Postions

Chairman of the Board of Aud.

 

CEASINGS/INCORPORATIONS/MERGES:

 

 

Project of merging by taking over of

 

 

 

Eltex S.r.l.

 

 

 

Viale

Industria

, 12051

, Alba

(CN)

- IT -

 

 

 

Fiscal Code: 01825050048

 

 

 

Date

Merging/splitting-up project :

08/10/1999

 

 

The firm absorbed by merging of

 

 

 

Eltex S.r.l.

 

 

 

Viale

Industria

, 12051

, Alba

(CN)

- IT -

 

 

 

Fiscal Code: 01825050048

 

 

 

Date

:

23/12/1999



Protests

 

Protests checking on the subject firm has given a negative result.

 

 

Data Base Prejudicial Events Search

 

Search performed on a National Scale

 

 

 

Prejudicial Events Search Result: NEGATIVE

 

Search performed on a specialized data base.

 

 

Legal Procedures

 

None reported, standing to the latest received edition of the Official Publications.



Financial and Economical Analysis

 

The company is active since 1999

The analysis is based on the latest 3 balance sheets.

During the last years, it achieved profits (r.o.e. 34% on 2010) and during the last financial year an increase in sales volume was registered (+69,04% in 2010).

The return on Investment in the last financial year was positive (6,03%) and reflects the field's average.

An operating result of Eur. 690.196 has been registered. with an increase of more then 100% if the compared to the previous financial year.

During the latest financial year the gross operating margin amounted to Eur. 1.194.465 showing an upward trend if compared to 2009.

The analysis shows a fair financial position as the indebtedness volume is acceptable (2,19) and decreasing as against 2009.

With regard to equity capital, an amount of Eur. 2.099.607 is registered. with a growth of 51,52% in 2010.

In the year 2010 total debts amounted to Eur. 7.553.055 , a more or less stable value.

Financial indebdtedness is under control whereas debts to suppliers are frequent besides being higher than sector's average.

Liquid assets are good.

Trade credits are collected slowly, average term is 110,49 days. but on the same levels as the average of the sector.

The financial management generated a cash flow of Eur. 1.171.738.

Labour cost amounts to Eur. 2.893.336, with a 20,59% incidence on production costs. and a 20,42% incidence on sales volumes.

The financial management has a limited economic impact, equal to -0,35% on the sales.



Financial Data

 

 

 

Complete balance-sheet for the year

30/09/2010

(in Eur

x 1 )

 

Item Type

Value

Sales

14.168.033

Profit (Loss) for the period

713.969

 

 

 

Complete balance-sheet for the year

30/09/2009

(in Eur

x 1 )

 

Item Type

Value

Sales

8.381.359

Profit (Loss) for the period

381.299

 

 

 

Complete balance-sheet for the year

31/12/2008

(in Eur

x 1 )

 

Item Type

Value

Sales

15.795.624

Profit (Loss) for the period

-1.819.901

 

 

 

Complete balance-sheet for the year

31/12/2007

(in Eur

x 1 )

 

Item Type

Value

Sales

21.186.899

Profit (Loss) for the period

-1.785.634

 

 

 

Complete balance-sheet for the year

31/12/2006

(in Eur

x 1 )

 

Item Type

Value

Sales

20.330.345

Profit (Loss) for the period

-223.656



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 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

4.650

4.930

 

. . Research,develop. and advert.expens.

405.376

10.461

18.589

. . Industrial patent rights

30.640

281.596

68.757

. . Concessions,licenses,trademarks,etc.

502

701

851

. . Goodwill

 

 

 

. . Assets in formation and advance paymen.

 

391.201

405.607

. . Other intangible fixed assets

34.983

119.941

214.856

. Total Intangible Fixed Assets

476.151

808.830

708.660

. TANGIBLE FIXED ASSETS

 

 

 

. . Real estate

 

 

11.144

. . Plant and machinery

51.572

60.705

66.383

. . Industrial and commercial equipment

68.131

26.305

34.034

. . Other assets

124.059

149.600

163.749

. . Assets under construction and advances

 

 

 

. Total Tangible fixed assets

243.762

236.610

275.310

. FINANCIAL FIXED ASSETS

 

 

 

. . Equity investments

125.203

125.203

125.203

. . . Equity invest. in subsidiary companies

104.183

104.183

104.183

. . . Equity invest. in associated companies

20.450

20.450

20.450

. . . Equity invest. in holding companies

570

 

 

. . . Equity invest. in other companies

 

570

570

. . 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

125.203

125.203

125.203

Total fixed assets

845.116

1.170.643

1.109.173

CURRENT ASSETS

 

 

 

. INVENTORIES

 

 

 

. . Raw materials and other consumables

800.164

683.212

873.346

. . Work in progress and semimanufactured

2.196.024

2.084.569

2.165.123

. . Work in progress on order

 

 

 

. . Finished goods

955.474

679.181

1.255.613

. . Advance payments

11.024

 

 

. Total Inventories

3.962.686

3.446.962

4.294.082

. CREDITS NOT HELD AS FIXED ASSETS

 

 

 

. . Within 12 months

5.452.133

4.623.518

5.152.314

. . Beyond 12 months

10.214

95.753

90.067

. . Trade receivables

4.348.235

3.672.622

4.552.607

. . . . Within 12 months

4.348.235

3.582.555

4.462.540

. . . . Beyond 12 months

 

90.067

90.067

. . Receivables due from subsid. comp.

90.344

79.440

 

. . . . Within 12 months

90.344

79.440

 

. . . . Beyond 12 months

 

 

 

. . Receivables due from assoc. comp.

360.563

233.180

 

. . . . Within 12 months

360.563

233.180

 

. . . . Beyond 12 months

 

 

 

. . Receivables due from holding comp.

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Fiscal Receivables

108.928

116.885

80.743

. . . . Within 12 months

108.928

116.885

80.743

. . . . Beyond 12 months

 

 

 

. . Receivables for anticipated taxes

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Receivables due from third parties

554.277

617.144

609.031

. . . . Within 12 months

544.063

611.458

609.031

. . . . Beyond 12 months

10.214

5.686

 

. Total Credits not held as fixed assets

5.462.347

4.719.271

5.242.381

. 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

1.067.300

663.104

190.644

. . Checks

 

 

 

. . Banknotes and coins

2.100

1.807

1.001

. Total Liquid funds

1.069.400

664.911

191.645

Total current assets

10.494.433

8.831.144

9.728.108

ADJUSTMENT ACCOUNTS

 

 

 

. Discount on loans

 

 

 

. Other adjustment accounts

115.895

109.187

105.406

Total adjustments accounts

115.895

109.187

105.406

TOTAL ASSETS

11.455.444

10.110.974

10.942.687

 

 

 

 

LIABILITIES

 

 

 

STOCKHOLDERS' EQUITY

 

 

 

. Capital stock

1.000.000

1.000.000

500.000

. Additional paid-in capital

 

 

 

. Revaluation reserves

 

 

 

. Legal reserve

19.065

 

 

. Reserve for Own shares

 

 

 

. Statute reserves

 

 

 

. Other reserves

4.339

4.339

500.000

. Accumulated Profits (Losses)

362.234

 

 

. Profit( loss) of the year

713.969

381.299

-1.819.901

. Advances on dividends

 

 

 

. Partial loss of the year Coverage

 

 

 

Total Stockholders'Equity

2.099.607

1.385.638

-819.901

RESERVES FOR RISKS AND CHARGES

 

 

 

. . Reserve for employee termination indem.

78.600

68.600

 

. . Taxation fund, also differed

 

 

 

. . Other funds

389.223

352.723

496.323

Total Reserves for Risks and Charges

467.823

421.323

496.323

Employee termination indemnities

820.432

960.716

1.074.957

ACCOUNTS PAYABLE

 

 

 

. . . . Within 12 months

5.659.593

4.706.090

7.941.809

. . . . Beyond 12 months

1.893.462

2.192.243

1.876.691

. . Bonds

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Convertible bonds repayable

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Due to shareholders for financing

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Due to banks

1.820.745

2.361.655

3.723.986

. . . . Within 12 months

344.896

587.025

1.847.295

. . . . Beyond 12 months

1.475.849

1.774.630

1.876.691

. . Due to other providers of finance

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Advances from customers

361.627

176.706

206.859

. . . . Within 12 months

361.627

176.706

206.859

. . . . Beyond 12 months

 

 

 

. . Trade payables

4.039.973

3.417.389

5.454.962

. . . . Within 12 months

4.039.973

3.417.389

5.454.962

. . . . Beyond 12 months

 

 

 

. . Securities issued

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Due to subsidiary companies

43.838

13.275

 

. . . . Within 12 months

43.838

13.275

 

. . . . Beyond 12 months

 

 

 

. . Due to associated companies

124.539

81.263

 

. . . . Within 12 months

124.539

81.263

 

. . . . Beyond 12 months

 

 

 

. . Due to holding companies

821.986

600.982

 

. . . . Within 12 months

404.373

183.369

 

. . . . Beyond 12 months

417.613

417.613

 

. . Due to the tax authorities

117.257

78.015

122.619

. . . . Within 12 months

117.257

78.015

122.619

. . . . Beyond 12 months

 

 

 

. . Due to social security and welfare inst.

81.024

55.810

164.209

. . . . Within 12 months

81.024

55.810

164.209

. . . . Beyond 12 months

 

 

 

. . Other payables

142.066

113.238

145.865

. . . . Within 12 months

142.066

113.238

145.865

. . . . Beyond 12 months

 

 

 

Total accounts payable

7.553.055

6.898.333

9.818.500

ADJUSTMENT ACCOUNTS

 

 

 

. Agio on loans

 

 

 

. Other adjustment accounts

514.527

444.964

372.808

Total adjustment accounts

514.527

444.964

372.808

TOTAL LIABILITIES

11.455.444

10.110.974

10.942.687

 

 

 

 

 

 

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

14.168.033

8.381.359

15.795.624

. Changes in work in progress

387.748

-656.987

-379.539

. Changes in semi-manufact. products

 

 

 

. Capitalization of internal work

45.498

272.031

364.183

. Other income and revenues

141.786

275.546

523.173

. . Contributions for operating expenses

 

 

 

. . Different income and revenues

141.786

275.546

523.173

Total value of production

14.743.065

8.271.949

16.303.441

PRODUCTION COSTS

 

 

 

. Raw material,other materials and consum.

6.901.780

3.403.225

8.151.397

. Services received

3.589.288

2.079.875

3.537.903

. Leases and rentals

244.461

179.198

277.891

. Payroll and related costs

2.893.336

1.989.539

3.802.499

. . Wages and salaries

2.008.866

1.402.313

2.594.571

. . Social security contributions

601.718

443.111

777.643

. . Employee termination indemnities

160.662

108.524

185.970

. . Pension and similar

 

 

 

. . Other costs

122.090

35.591

244.315

. Amortization and depreciation

457.769

226.833

269.596

. . Amortization of intangible fixed assets

374.983

185.460

162.838

. . Amortization of tangible fixed assets

62.786

41.373

61.758

. . Depreciation of tangible fixed assets

 

 

 

. . Writedown of current receiv.and of liquid

20.000

 

45.000

. Changes in raw materials

-116.951

190.133

462.694

. Provisions to risk reserves

 

 

6.000

. Other provisions

46.500

105.480

 

. Other operating costs

36.686

27.916

45.149

Total production costs

14.052.869

8.202.199

16.553.129

Diff. between value and cost of product.

690.196

69.750

-249.688

FINANCIAL INCOME AND EXPENSE

 

 

 

. Income from equity investments

 

 

 

. . In subsidiary companies

 

 

 

. . In associated companies

 

 

 

. . In other companies

 

 

 

. Other financial income

3.431

3.542

5.998

. . 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

3.431

3.542

5.998

. . . - Subsidiary companies

 

 

 

. . . - Associated companies

 

 

 

. . . - Holding companies

 

 

 

. . . - Other companies

 

 

 

. Interest and other financial expense

-52.945

-113.660

-229.317

. . Towards subsidiary companies

 

 

 

. . Towards associated companies

 

 

 

. . Towards holding companies

 

 

 

. . Towards other companies

 

-10.303

2.657

Total financial income and expense

-49.514

-110.118

-223.319

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

249.935

476.756

300.249

. . Gains on disposals

 

 

 

. . Other extraordinary income

249.935

476.756

300.249

. Extraordinary expense

-68.544

-15.181

-1.570.930

. . Losses on disposals

 

 

 

. . Taxes relating to prior years

 

 

 

. . Other extraordinary expense

-68.544

-15.181

-1.570.930

Total extraordinary income and expense

181.391

461.575

-1.270.681

Results before income taxes

822.073

421.207

-1.743.688

. Taxes on current income

108.104

39.908

76.213

. . current taxes

108.104

39.908

76.213

. . differed taxes(anticip.)

 

 

 

. Net income for the period

713.969

381.299

-1.819.901

. Adjustments in tax regulations pursuance

 

 

 

. Provisions in tax regulations pursuance

 

 

 

. Profit (loss) of the year

713.969

381.299

-1.819.901

 

RATIOS

Value Type

as at 30/09/2010

as at 30/09/2009

as at 31/12/2008

Sector Average

COMPOSITION ON INVESTMENT

 

 

 

 

 

Rigidity Ratio

Units

0,07

0,12

0,10

0,18

Elasticity Ratio

Units

0,92

0,87

0,88

0,80

Availability of stock

Units

0,35

0,34

0,39

0,24

Total Liquidity Ratio

Units

0,57

0,53

0,49

0,48

Quick Ratio

Units

0,09

0,07

0,01

0,03

COMPOSITION ON SOURCE

 

 

 

 

 

Net Short-term indebtedness

Units

2,19

2,92

n.c.

3,25

Self Financing Ratio

Units

0,18

0,14

n.c.

0,19

Capital protection Ratio

Units

0,18

0,00

n.c.

0,63

Liabilities consolidation quotient

Units

0,48

0,67

0,37

0,19

Financing

Units

3,60

4,98

n.c.

3,80

Permanent Indebtedness Ratio

Units

0,42

0,45

0,19

0,36

M/L term Debts Ratio

Units

0,24

0,31

0,26

0,11

Net Financial Indebtedness Ratio

Units

0,36

1,22

n.c.

0,63

CORRELATION

 

 

 

 

 

Fixed assets ratio

Units

5,70

3,88

1,92

1,75

Current ratio

Units

1,85

1,88

1,22

1,21

Acid Test Ratio-Liquidity Ratio

Units

1,15

1,14

0,68

0,81

Structure's primary quotient

Units

2,48

1,18

n.c.

1,03

Treasury's primary quotient

Units

0,19

0,14

0,02

0,06

Rate of indebtedness ( Leverage )

%

545,60

729,70

n.c.

516,42

Current Capital ( net )

Value

4.834.840

4.125.054

1.786.299

422.465

RETURN

 

 

 

 

 

Return on Sales

%

8,27

7,26

- 9,81

3,35

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

%

34,00

27,52

n.c.

5,13

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

%

39,15

30,40

n.c.

14,77

Return on Investment ( R.O.I. )

%

6,03

0,69

- 2,28

4,16

Return/ Sales

%

4,87

0,83

- 1,58

4,11

Extra Management revenues/charges incid.

%

103,44

546,67

n.c.

28,57

Cash Flow

Value

1.171.738

608.132

-1.550.305

122.482

Operating Profit

Value

690.196

69.750

-249.688

144.751

Gross Operating Margin

Value

1.194.465

297.637

19.968

241.990

MANAGEMENT

 

 

 

 

 

Credits to clients average term

Days

110,49

157,75

103,75

111,85

Debts to suppliers average term

Days

168,68

261,49

164,09

128,30

Average stock waiting period

Days

100,69

148,06

97,86

80,43

Rate of capital employed return ( Turnover )

Units

1,24

0,83

1,44

1,08

Rate of stock return

Units

3,58

2,43

3,67

4,45

Labour cost incidence

%

20,42

23,74

24,07

19,12

Net financial revenues/ charges incidence

%

- 0,35

- 1,31

- 1,41

- 1,08

Labour cost on purchasing expenses

%

20,59

24,26

22,97

19,02

Short-term financing charges

%

0,70

1,65

2,33

2,68

Capital on hand

%

80,85

120,64

69,27

91,91

Sales pro employee

Value

240.136

130.958

197.445

198.432

Labour cost pro employee

Value

49.039

31.086

47.531

35.779

 

 

Market / Territory Data

 

Population living in the province

:

569.987

Population living in the region

:

4.330.172

Number of families in the region

:

1.889.207

 

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

 

- per food products

:

429

- per non food products

:

1.789

- per energy consume

:

135

 

 

Sector Data

 

The values are calculated on a base of 1.206 significant companies.

 

The companies cash their credits on an average of 111 dd.

The average duration of suppliers debts is about 128 dd.

The sector's profitability is on an average of 3,35%.

The labour cost affects the turnover in the measure of 19,12%.

Goods are held in stock in a range of 80 dd.

The difference between the sales volume and the resources used to realize it is about 1,08.

The employees costs represent the 19,02% of the production costs.

 

 

Statistical Detrimental Data

 

The area is statistically considered lowly risky.

In the region 27.019 protested subjects are found; in the province they count to 1.458.

The insolvency index for the region is 0,63, , while for the province it is 0,26.

Total Bankrupt companies in the province : 1.299.

Total Bankrupt companies in the region : 14.165.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.66

UK Pound

1

Rs.88.04

Euro

1

Rs.69.91

 

INFORMATION DETAILS

 

Report Prepared by :

PRL

 

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.