MIRA INFORM REPORT
|
Report Date : |
06.02.2012 |
IDENTIFICATION DETAILS
|
Correct Name : |
A.R.T. S.R.L. |
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|
|
|
Registered Office : |
Via Rapallo, 5, 21052 - Busto
Arsizio (VA) |
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Country : |
Italy |
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|
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
14.03.2000 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Wholesale of machinery for the textile industry and sewing and knitting machines |
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No. of Employees
: |
01 to 5 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
30.000 Eur |
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Status : |
Small Company |
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Payment
Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTES:
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
Italy |
a2 |
a2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
Company name & address
A.r.t. S.r.l.
Via Rapallo, 5
21052 - Busto Arsizio (VA) -IT-
Summary
|
Fiscal Code |
: |
13078120154 |
|
Legal Form |
: |
Limited liability company |
|
start of Activities |
: |
01/07/2008 |
|
Equity |
: |
100.000 Eur |
|
Turnover Range |
: |
500.000/750.000 Eur |
|
Number of Employees |
: |
from 1 to 5 |
Credit Analysis
|
Credit Opinion |
: |
30.000 - Eur |
Activity
Wholesale of machinery for the
textile industry and sewing and knitting machines
Legal Data
Legal Form : Limited liability
company
|
Fiscal Code : 13078120154 |
|
Chamber of Commerce no. : 1614952 of
Milano |
|
Chamber of Commerce no. : 268432 of Varese
since 25/06/2009 |
|
V.A.T. Code : 13078120154 |
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Establishment date |
: 14/03/2000 |
|
|
Start of Activities |
: 01/07/2008 |
|
|
Legal duration |
: 31/12/2050 |
|
|
Nominal Capital |
: 30.000 |
Eur |
|
Subscribed Capital |
: 30.000 |
Eur |
|
Paid up Capital |
: 30.000 |
Eur |
Members
|
|
Palazzi |
Massimiliano |
|
|
|
Born in Gallarate |
(VA) |
on 08/08/1969 |
- Fiscal Code : PLZMSM69M08D869B |
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|
|
Residence : |
Piazza |
Mercato |
, 14 |
- 20020 |
Busto Garolfo |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Sole Director |
14/03/2000 |
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|
|
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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 |
|
Palazzi Massimiliano |
Busto Garolfo - IT - |
PLZMSM69M08D869B |
27.000 .Eur |
90,00 |
|
Re Pamela |
|
REXPML72R65F205U |
3.000 .Eur |
10,00 |
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 |
|
|
|
|
|
|
Via |
Rapallo |
, 5 |
- 21052 |
- Busto Arsizio |
(VA) |
- IT - |
|
|
|
|
PHONE |
: 0331/324691 |
|
|
|
|
Employees |
: 1 |
|
Fittings and Equipment for a value of
54.000 |
Eur |
|
Stocks for a value of 32.000 |
Eur |
Protests
Protests checking on the subject
firm has given a negative result.
Legal Procedures
None reported, standing to the latest
received edition of the Official Publications.
Financial and Economical Analysis
Company's starting of activities
dates back to some years ago (2008).
The eonomic-financial analysis
is based on the latest 3 b/s.
Unstable economic results mark
the company's financial state of affairs. anyway in 2010 a positive result was
achieved (r.o.e. 32,56%). The turnover is growing in the last financial year
(+11,19%).
The operating result in 2010 was
positive (7,62%) falling within the field's average.
An operating result of Eur.
37.047 has been registered. showing an upward trend more then 100% compared to
the previous financial year.
The gross operating margin of
the latest financial year is of Eur. 39.930 growing by 89,32% if compared to
the year before.
The ratio between shareholder's
equity and borrowed capital is not well balanced, the indebtedness level is
equal to 4,34 but on the decrease if compared to the year before.
Subject can manage an equity
capital funds for an amount of Eur. 84.393 , rising by 48,28%.
Total indebtedness was equal to
Eur. 392.649 (Eur. 25.816 was the value of m/l term debts) , with no sensible
variation.
Current liquid assets is
positive.
The financial management
generated a cash flow of Eur. 30.362.
Labour cost amounts to Eur. 33.577,
with a 5,1% incidence on production costs. , whereas the incidence on sales
revenues is of 4,85%.
The financial management has a
limited economic impact, equal to -0,42% on the sales.
Financial Data
|
|
|
Complete balance-sheet for the year |
31/12/2010 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
692.222 |
|
Profit (Loss) for the period |
27.479 |
|
|
|
Complete balance-sheet for the year |
31/12/2009 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
622.535 |
|
Profit (Loss) for the period |
13.327 |
|
|
|
Complete balance-sheet for the year |
31/12/2008 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
804.242 |
|
Profit (Loss) for the period |
-100.529 |
|
|
|
Complete balance-sheet for the year |
31/12/2007 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
898.857 |
|
Profit (Loss) for the period |
26.039 |
|
|
|
Complete balance-sheet for the year |
31/12/2006 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
956.269 |
|
Profit (Loss) for the period |
42.556 |
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 |
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- Balance Sheet
as at 31/12/2008 - 12 Mesi - Currency: Eur - Amounts x 1 |
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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 |
0,02 |
0,02 |
0,02 |
0,10 |
|
Elasticity Ratio |
Units |
0,97 |
0,97 |
0,97 |
0,87 |
|
Availability of stock |
Units |
0,07 |
0,10 |
0,14 |
0,21 |
|
Total Liquidity Ratio |
Units |
0,91 |
0,88 |
0,83 |
0,61 |
|
Quick Ratio |
Units |
0,00 |
0,00 |
0,00 |
0,03 |
|
COMPOSITION ON
SOURCE |
|
|
|
|
|
|
Net Short-term indebtedness |
Units |
4,34 |
6,41 |
2,39 |
4,04 |
|
Self Financing Ratio |
Units |
0,17 |
0,12 |
0,29 |
0,16 |
|
Capital protection Ratio |
Units |
0,32 |
0,24 |
1,49 |
0,59 |
|
Liabilities consolidation quotient |
Units |
0,10 |
0,12 |
0,02 |
0,11 |
|
Financing |
Units |
4,65 |
7,04 |
2,40 |
4,85 |
|
Permanent Indebtedness Ratio |
Units |
0,25 |
0,21 |
0,30 |
0,26 |
|
M/L term Debts Ratio |
Units |
0,07 |
0,09 |
0,01 |
0,07 |
|
Net Financial Indebtedness Ratio |
Units |
n.c. |
n.c. |
0,08 |
1,01 |
|
CORRELATION |
|
|
|
|
|
|
Fixed assets ratio |
Units |
13,57 |
11,41 |
16,84 |
2,12 |
|
Current ratio |
Units |
1,29 |
1,24 |
1,40 |
1,16 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
1,20 |
1,12 |
1,19 |
0,88 |
|
Structure's primary quotient |
Units |
9,59 |
6,50 |
16,19 |
1,40 |
|
Treasury's primary quotient |
Units |
0,00 |
0,00 |
0,00 |
0,04 |
|
Rate of indebtedness ( Leverage ) |
% |
576,17 |
816,62 |
344,50 |
620,22 |
|
Current Capital ( net ) |
Value |
106.874 |
87.462 |
135.583 |
131.413 |
|
RETURN |
|
|
|
|
|
|
Return on Sales |
% |
4,39 |
2,69 |
- 12,18 |
2,27 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
32,56 |
23,42 |
- 70,50 |
6,70 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
40,44 |
25,49 |
- 69,19 |
18,85 |
|
Return on Investment ( R.O.I. ) |
% |
7,62 |
3,80 |
- 20,06 |
4,76 |
|
Return/ Sales |
% |
5,35 |
2,84 |
- 12,25 |
3,70 |
|
Extra Management revenues/charges incid. |
% |
74,17 |
75,39 |
n.c. |
28,15 |
|
Cash Flow |
Value |
30.362 |
16.740 |
-97.938 |
39.655 |
|
Operating Profit |
Value |
37.047 |
17.678 |
-98.523 |
63.123 |
|
Gross Operating Margin |
Value |
39.930 |
21.091 |
-95.932 |
99.042 |
|
MANAGEMENT |
|
|
|
|
|
|
Credits to clients average term |
Days |
n.c. |
n.c. |
169,60 |
119,16 |
|
Debts to suppliers average term |
Days |
n.c. |
n.c. |
112,86 |
116,83 |
|
Average stock waiting period |
Days |
16,80 |
26,23 |
31,26 |
58,39 |
|
Rate of capital employed return ( Turnover
) |
Units |
1,42 |
1,34 |
1,64 |
1,36 |
|
Rate of stock return |
Units |
21,43 |
13,72 |
11,52 |
6,14 |
|
Labour cost incidence |
% |
4,85 |
5,03 |
3,77 |
8,98 |
|
Net financial revenues/ charges incidence |
% |
- 0,42 |
- 0,51 |
- 0,02 |
- 1,08 |
|
Labour cost on purchasing expenses |
% |
5,10 |
5,16 |
3,35 |
8,98 |
|
Short-term financing charges |
% |
0,77 |
0,80 |
0,10 |
2,60 |
|
Capital on hand |
% |
70,24 |
74,66 |
61,08 |
73,17 |
|
Sales pro employee |
Value |
692.222 |
622.535 |
804.242 |
394.001 |
|
Labour cost pro employee |
Value |
33.577 |
31.337 |
30.294 |
34.340 |
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:
30.000
Eur.
Market / Territory Data
|
Population living in the province |
: |
843.250 |
|
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 119 dd.
The average duration of
suppliers debts is about 116 dd.
The sector's profitability is on
an average of 2,27%.
The labour cost affects the
turnover in the measure of 8,98%.
Goods are held in stock in a
range of 58 dd.
The difference between the sales
volume and the resources used to realize it is about 1,36.
The employees costs represent
the 8,98% of the production costs.
Statistical Detrimental Data
The area is statistically
considered moderately risky.
In the region 50.886 protested
subjects are found; in the province they count to 4.597.
The insolvency index for the
region is 0,55, , while for the province it is 0,55.
Total Bankrupt companies in the
province : 3.052.
Total Bankrupt companies in the
region : 39.612.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.48.96 |
|
UK Pound |
1 |
Rs.77.47 |
|
Euro |
1 |
Rs.64.39 |
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.