|
Report Date : |
01.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
SMIT TEXTILE S.P.A. |
|
|
|
|
Registered Office : |
Viale Dell' Industria, 135 36015 – Schio (VI) |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Date of Incorporation : |
01.04.2010 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacture of textile machinery, machinery and systems for auxiliary treatment of textiles, sewing and weaving machines (including spare parts and accessories) |
|
|
|
|
No. of Employees : |
From 176 to 200 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
|
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Smit Textile S.p.a.
Viale Dell' Industria, 135
36015 – Schio (VI) -IT-
|
Fiscal Code |
: |
04273280281 |
|
Legal Form |
: |
Joint stock company |
|
start of Activities |
: |
01/04/2010 |
|
Equity |
: |
Over 2.582.254 Eur |
|
Turnover Range |
: |
18.000.000/20.000.000 Eur |
|
Number of Employees |
: |
from 176 to 200 |
|
The company under review was established in February 2008 under the
name |
|
of GEMINI SRL. At that time it was engeaged in events organization,
catering, |
|
etc... |
|
Present activities started on 01.04.2010 further to the spin-off
operation of the |
|
operative assets of three previously established company. |
|
Since then, the company started the production of textile machines and
|
|
assumed present name. |
|
Business transactions on credit basis are feasible. |
|
|
|
|
Manufacture of textile machinery, machinery and systems for auxiliary treatment
of textiles, sewing and weaving machines (including spare parts and
accessories)
Legal Form : Joint stock company
|
Fiscal Code : 04273280281 |
|
Chamber of Commerce no. : 95251 of Belluno |
|
Chamber of Commerce no. : 376725 of Padova since 25/02/2008 |
|
Chamber of Commerce no. : 396340 of Padova |
|
Chamber of Commerce no. : 339258 of Vicenza since 29/04/2010 |
|
V.A.T. Code : 04273280281 |
|
Establishment date |
: 07/02/2008 |
|
|
Start of Activities |
: 01/04/2010 |
|
|
Legal duration |
: 31/12/2050 |
|
|
Nominal Capital |
: 30.000.000 |
Eur |
|
Subscribed Capital |
: 30.000.000 |
Eur |
|
Paid up Capital |
: 30.000.000 |
Eur |
|
|
Gregoric |
Luca |
|
|
|
Born in Gorizia |
(GO) |
on 03/08/1967 |
- Fiscal Code : GRGLCU67M03E098H |
|
|
|
Residence : |
Via |
Scrovegni |
, 29 |
- 35100 |
Padova |
(PD) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Sole Director |
03/12/2010 |
|
|
|
|
No Protests registered |
*checkings have been performed on a national scale.
In this module are listed the companies in which members hold or have
holded positions.
|
|
GREGORIC |
LUCA |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
ALMAFORTE SOCIETA' A RESPONSABILITA'
LIMITATA |
Padova (PD) - IT - |
03890650280 |
Director |
Withdrawn |
Registered |
|
CM LEASING E FACTORING S.P.A. |
Padova (PD) - IT - |
03769340286 |
Permanent
Auditor |
Active |
Registered |
|
ECO ARENA S.R.L. |
Padova (PD) - IT - |
02836460234 |
Sole Director |
Withdrawn |
Registered |
|
ENIA TECHNOLOGIES SOCIETA' A
RESPONSABILITA' LIMITATA |
Padova (PD) - IT - |
03936330285 |
Sole Director |
Active |
Registered |
|
FINTEX S.R.L. |
Padova (PD) - IT - |
08523070152 |
Sole Director |
Active |
Registered |
|
FINTEX S.R.L. |
Padova (PD) - IT - |
08523070152 |
Permanent
Auditor |
Withdrawn |
Registered |
|
GEMMA S.R.L. |
Padova (PD) - IT - |
04442420289 |
Sole Director |
Active |
Registered |
|
I.C.G. INTERNATIONAL CONSULTING GROUP
S.P.A. |
Milano (MI) - IT - |
02822160368 |
Temporary
Auditor |
Withdrawn |
Registered |
|
IMHOTEP COSTRUZIONI - S.P.A. |
Fosso' (VE) - IT - |
03413940275 |
Temporary
Auditor |
Active |
Inactive |
|
INTERNATIONAL CONSULTING GROUP S.P.A. |
Milano (MI) - IT - |
10999430159 |
Temporary
Auditor |
Withdrawn |
Registered |
|
JOLU SRL IN LIQUIDAZIONE |
Padova (PD) - IT - |
04395220280 |
Sole Director |
Withdrawn |
Registered |
|
JOLU SRL IN LIQUIDAZIONE |
Padova (PD) - IT - |
04395220280 |
Liquidator |
Active |
Registered |
|
MICRO TECH S.R.L. UNIPERSONALE |
Schio (VI) - IT - |
03166070247 |
Sole Director |
Active |
Registered |
|
MULTIMEDIA S.R.L. |
Verona (VR) - IT - |
04248280283 |
Director |
Withdrawn |
Registered |
|
NEWCOSMIT S.P.A. UNIPERSONALE IN
LIQUIDAZIONE |
Padova (PD) - IT - |
03108160247 |
Director |
Withdrawn |
Registered |
|
NEWCOSMIT S.P.A. UNIPERSONALE IN
LIQUIDAZIONE |
Padova (PD) - IT - |
03108160247 |
Liquidator |
Active |
Registered |
|
NEWCOSMIT S.P.A. UNIPERSONALE IN
LIQUIDAZIONE |
Padova (PD) - IT - |
03108160247 |
Board Chairman |
Withdrawn |
Registered |
|
PETRARCA 2000 S.R.L. |
Padova (PD) - IT - |
03262140282 |
Sole Director |
Active |
Registered |
|
PETRARCA BASKET SRL |
Padova (PD) - IT - |
00056650286 |
Liquidator |
Withdrawn |
Registered |
|
SOCIETA' SPORTIVA DI CAPITALI
DILETTANTISTICA VOLLEY SEMPRE VOLLEY S.R.L. CON SI |
Padova (PD) - IT - |
04213740287 |
Chairman of the
Board of Aud. |
Withdrawn |
Registered |
|
SOVEDA S.R.L. IN LIQUIDAZIONE |
Due Carrare (PD) - IT - |
02419770280 |
Permanent
Auditor |
Active |
Registered |
|
TORTUGA SOCIETA' A RESPONSABILITA'
LIMITATA IN LIQUIDAZIONE |
Padova (PD) - IT - |
04127550285 |
Sole Director |
Withdrawn |
Registered |
|
TORTUGA SOCIETA' A RESPONSABILITA'
LIMITATA IN LIQUIDAZIONE |
Padova (PD) - IT - |
04127550285 |
Sole partner |
Withdrawn |
Registered |
|
UNITED TELEVISION SERVICE S.P.A. IN SIGLA
U.T.S. S.P.A. |
Padova (PD) - IT - |
04011850288 |
Temporary
Auditor |
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.
Shareholders' list as at date of data collection:
|
Firm's Style / Name |
Seat / Residence |
Fiscal Code |
Owned Shares |
% Ownership |
|
Glencove Corporation Xxxiv Consultadoria E Servicos Lda |
Madeira - PT - |
|
12.000.000 .Eur |
40,00 |
|
Pacific Western Limited |
|
|
18.000.000 .Eur |
60,00 |
The Company under review has no participations in other Companies.
In order to carry out its activities the firm uses the following
locations:
|
- |
Legal and operative seat |
|
since 29/04/2010 |
|
|
|
|
|
Viale |
Dell' Industria |
, 135 |
- 36015 |
- Schio |
(VI) |
- IT - |
|
|
|
|
PHONE |
: 0445/699111 |
|
|
|
|
FAX |
: 0445/699358 |
|
- |
Branch |
|
since 01/04/2010 |
|
|
|
|
|
Via |
Valcozzena |
, 44 |
- 32021 |
- Agordo |
(BL) |
- IT - |
|
- |
Branch |
(office ) |
since 02/11/2010 |
|
|
|
|
|
Via |
Degli Scrovegni Enrico |
, 29 |
- 35100 |
- Padova |
(PD) |
- IT - |
|
|
|
|
Employees |
: 180 |
|
Fittings and Equipment for a value of 12.230.000 |
Eur |
|
Stocks for a value of 8.630.000 |
Eur |
|
Work in progress for a value of 1.620.000 |
Eur |
|
|
COMPANY STYLE MODIFICATIONS:
|
Former Style |
New Style |
Changement Date |
|
Gemini Srl |
Smit Textile Srl |
29/04/2010 |
EX-MEMBERS / EX-POSITIONS:
|
|
Corsi |
Giovanni |
|
|
|
Born in Padova |
on 23/03/1971 |
- Fiscal Code : CRSGNN71C23G224X |
|
|
|
Residence : |
Galleria |
Dei Borromeo |
, 3 |
- 35137 |
Padova |
(PD) |
- IT - |
|
Ex-Postions |
|
Sole Director |
CEASINGS/INCORPORATIONS/MERGES:
|
|
The firm took over the activity of |
|
|
|
Fintex S.r.l. |
|
|
|
Via |
Enrico Degli Scrovegni |
, 29 |
, 35131 |
, Padova |
(PD) |
- IT - |
|
|
|
Fiscal Code: 08523070152 |
|
|
|
Date |
: |
26/03/2010 |
|
|
The firm took over the activity of |
|
|
|
Micro Tech S.r.l. Unipersonale |
|
|
|
Viale |
Dell'industria |
, 135 |
, 36015 |
, Schio |
(VI) |
- IT - |
|
|
|
Fiscal Code: 03166070247 |
|
|
|
Date |
: |
01/04/2010 |
|
|
The firm took over the activity of |
|
|
|
Building Services Brianza s.r.l. |
|
|
|
Via |
Fratelli Ruffini |
, 10 |
, 20100 |
, Milano |
(MI) |
- IT - |
|
|
|
Fiscal Code: 11365890158 |
|
|
|
Date |
: |
24/05/2010 |
Protests checking on the subject firm has given a negative result.
Search performed on a National Scale
|
|
|
Prejudicial Events Search Result: NEGATIVE |
Search performed on a specialized data base.
None reported, standing to the latest received edition of the Official
Publications.
The firm operates with:
|
Bank Name |
Agency Name |
Address |
ZIP Code |
City |
ABI Code |
CAB Code |
|
BANCA POP. DI VERONA - BPV-SGSP SPA |
|
|
|
|
5188 |
0 |
|
UNICREDIT BANCA SPA |
|
|
|
|
2008 |
0 |
The company has been recently established.
An eco-fin analysis has been made on the base od the b/s fo the years
2008, 2009 and 2010.
During the last years, it achieved profits (r.o.e. 0,73% on 2010) and
with an upward trend in turnover trend during the last financial year (more
then 100% in 2010).
The operating result in 2010 was positive (0,84%) falling within the
field's average.
The amount of the operating result for the year 2010 is of Eur. 290.638
rising (+more then 100%) in relation to the previous year.
A gross operating margine for a value of Eur. 1.621.960 was reached.
with a more then 100% growth.
Company's financial status is balanced since indebtedness is not high
(1,27) yet on the increase as against the previous accounting period.
Subject can manage an equity capital funds for an amount of Eur.
12.527.562 , rising by 74526,56%.
In the year 2010 total debts amounted to Eur. 18.566.933 , rising as
opposed to the previous year (+more then 100%).
Moderate recourse to bank credit while the exposure towards suppliers is
rather high however still within the sector's average.
It shows a not very good liquidity level.
Credits are collected in 42,94 days on the average. , a better value
than the sector's average.
The financial management generated a cash flow of Eur. 1.422.735.
Labour cost amounts to Eur. 4.072.979, with a 14,61% incidence on
production costs. , whereas 20,93% is the incidence on sales revenues.
Financial charges have a limited incidence (-0,29%) on sales volume.
|
|
|
Complete balance-sheet for the year |
31/12/2010 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
19.458.755 |
|
Profit (Loss) for the period |
91.413 |
|
|
|
Complete balance-sheet for the year |
31/12/2009 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
3.696 |
|
Profit (Loss) for the period |
751 |
|
|
|
Complete balance-sheet for the year |
31/12/2008 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
36.667 |
|
Profit (Loss) for the period |
6.037 |
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 |
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
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 |
0,60 |
0,98 |
0,48 |
0,18 |
|
Elasticity Ratio |
Units |
0,40 |
0,02 |
0,45 |
0,80 |
|
Availability of stock |
Units |
0,25 |
n.c. |
n.c. |
0,24 |
|
Total Liquidity Ratio |
Units |
0,15 |
0,02 |
0,45 |
0,48 |
|
Quick Ratio |
Units |
0,00 |
0,01 |
0,23 |
0,03 |
|
COMPOSITION ON
SOURCE |
|
|
|
|
|
|
Net Short-term indebtedness |
Units |
1,27 |
0,16 |
1,65 |
3,25 |
|
Self Financing Ratio |
Units |
0,36 |
0,86 |
0,29 |
0,19 |
|
Capital protection Ratio |
Units |
0,03 |
0,36 |
0,00 |
0,63 |
|
Liabilities consolidation quotient |
Units |
0,33 |
n.c. |
n.c. |
0,19 |
|
Financing |
Units |
1,48 |
0,16 |
2,44 |
3,80 |
|
Permanent Indebtedness Ratio |
Units |
0,52 |
0,86 |
0,29 |
0,36 |
|
M/L term Debts Ratio |
Units |
0,15 |
n.c. |
n.c. |
0,11 |
|
Net Financial Indebtedness Ratio |
Units |
0,29 |
n.c. |
n.c. |
0,63 |
|
CORRELATION |
|
|
|
|
|
|
Fixed assets ratio |
Units |
0,86 |
0,88 |
0,60 |
1,75 |
|
Current ratio |
Units |
0,87 |
0,17 |
0,63 |
1,21 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
0,32 |
0,17 |
0,63 |
0,81 |
|
Structure's primary quotient |
Units |
0,61 |
0,88 |
0,60 |
1,03 |
|
Treasury's primary quotient |
Units |
0,00 |
0,04 |
0,32 |
0,06 |
|
Rate of indebtedness ( Leverage ) |
% |
274,66 |
116,35 |
344,20 |
516,42 |
|
Current Capital ( net ) |
Value |
-2.110.486 |
-2.275 |
-14.525 |
422.465 |
|
RETURN |
|
|
|
|
|
|
Return on Sales |
% |
7,31 |
223,24 |
25,84 |
3,35 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
0,73 |
4,47 |
37,64 |
5,13 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
1,88 |
4,47 |
61,91 |
14,77 |
|
Return on Investment ( R.O.I. ) |
% |
0,84 |
3,49 |
17,94 |
4,16 |
|
Return/ Sales |
% |
1,49 |
18,45 |
27,01 |
4,11 |
|
Extra Management revenues/charges incid. |
% |
31,45 |
110,12 |
60,97 |
28,57 |
|
Cash Flow |
Value |
1.422.735 |
8.251 |
9.475 |
122.482 |
|
Operating Profit |
Value |
290.638 |
682 |
9.902 |
144.751 |
|
Gross Operating Margin |
Value |
1.621.960 |
8.182 |
13.340 |
241.990 |
|
MANAGEMENT |
|
|
|
|
|
|
Credits to clients average term |
Days |
42,94 |
n.c. |
n.c. |
111,85 |
|
Debts to suppliers average term |
Days |
139,85 |
n.c. |
n.c. |
128,30 |
|
Average stock waiting period |
Days |
159,69 |
n.c. |
n.c. |
80,43 |
|
Rate of capital employed return ( Turnover ) |
Units |
0,57 |
0,19 |
0,66 |
1,08 |
|
Rate of stock return |
Units |
2,25 |
n.c. |
n.c. |
4,45 |
|
Labour cost incidence |
% |
20,93 |
n.c. |
n.c. |
19,12 |
|
Net financial revenues/ charges incidence |
% |
- 0,29 |
1,89 |
0,07 |
- 1,08 |
|
Labour cost on purchasing expenses |
% |
14,61 |
n.c. |
n.c. |
19,02 |
|
Short-term financing charges |
% |
0,30 |
n.c. |
n.c. |
2,68 |
|
Capital on hand |
% |
176,83 |
528,44 |
150,54 |
91,91 |
|
Sales pro employee |
Value |
100.302 |
|
|
198.432 |
|
Labour cost pro employee |
Value |
20.994 |
|
|
35.779 |
|
Population living in the province |
: |
831.356 |
|
Population living in the region |
: |
4.699.950 |
|
Number of families in the region |
: |
1.813.210 |
Monthly family expences average in the region (in Eur.) :
|
- per food products |
: |
456 |
|
- per non food products |
: |
2.052 |
|
- per energy consume |
: |
127 |
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.
The area is statistically considered lowly risky.
In the region 13.782 protested subjects are found; in the province they
count to 2.234.
The insolvency index for the region is 0,30, , while for the province it
is 0,27.
Total Bankrupt companies in the province : 2.546.
Total Bankrupt companies in the region : 16.714.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.53 |
|
UK Pound |
1 |
Rs.87.48 |
|
Euro |
1 |
Rs.70.89 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.