MIRA
INFORM REPORT
|
Report Date : |
10.02.2012 |
IDENTIFICATION DETAILS
|
Name : |
SAS ENGINEERING AND PLANNING S.R.L. |
|
|
|
|
Registered Office : |
Via Volta,5 22030- Suello(LC) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Date of Incorporation : |
15.01.1973 |
|
|
|
|
Com. Reg. No.: |
LC042-5920 since 19/02/1996 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacture of structural metal products |
|
|
|
|
No. of Employees : |
From 36 to 50 |
RATING & COMMENTS
|
MIRAs Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
170.000 - 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 September 30, 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 |
|
Restricted |
C2 |
|
Off-credit |
D |
Company name and address
Sas Engineering And Planning S.r.l.
Via Volta,5
22030- Suello(LC)-IT-
Summary
|
Fiscal Code |
: |
00264440132 |
|
Legal Form |
: |
Limited liability company |
|
start of Activities |
: |
15/01/1973 |
|
Equity |
: |
2.500.000 Eur |
|
Turnover Range |
: |
10.000.000/12.750.000 Eur |
|
Number of Employees |
: |
from 36 to 50 |
Credit Analysis
|
Credit Opinion |
: |
170.000 - Eur |
Activity
Manufacture of structural metal products
General mechanics
Legal Data
Legal Form : Limited liability company
|
Register of Handcraft firms : 37499 of Lecco since 05/02/1973 |
|
Fiscal Code : 00264440132 |
|
Foreign Trade Reg. no. : LC006877 since 07/01/1992 |
|
Foreign Trade Reg. no. : 006877 of Lecco since 07/01/1992 |
|
Chamber of Commerce no. : 137342 of Lecco since 07/02/1973 |
|
Firms' Register : LC042-5920 since 19/02/1996 |
|
V.A.T. Code : 00264440132 |
|
Establishment date |
: 30/06/1981 |
|
|
Start of Activities |
: 15/01/1973 |
|
|
Legal duration |
: 31/12/2040 |
|
|
Nominal Capital |
: 15.600 |
Eur |
|
Subscribed Capital |
: 15.600 |
Eur |
|
Paid up Capital |
: 15.600 |
Eur |
Members
|
|
Stefanoni |
Fermo Pietro |
|
|
|
Born in Cesello Brianza |
(CO) |
on 10/06/1947 |
- Fiscal Code : STFFMP47H10C572O |
|
|
|
Residence : |
Via |
Don Vito Rimoldi |
, 1 |
- 23867 |
Suello |
(LC) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Managing Director |
15/01/2007 |
|
|
|
Director |
19/12/2006 |
|
|
|
Board Chairman |
19/12/2006 |
|
|
|
|
No Protests registered |
|
|
Aldeghi |
Giuseppe Mario |
|
|
|
Born in Cesello Brianza |
(CO) |
on 09/10/1947 |
- Fiscal Code : LDGGPP47R09C572O |
|
|
|
Residence : |
Via |
A. Manzoni |
, 27 |
- 23867 |
Suello |
(LC) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
19/12/2006 |
|
|
|
|
No Protests registered |
|
|
Stefanoni |
Fermo Mario |
|
|
|
Born in Cesello Brianza |
(CO) |
on 09/07/1948 |
- Fiscal Code : STFFMM48L09C572S |
|
|
|
Residence : |
Via |
A. Stoppani |
, 4 |
- 22030 |
Cesana Brianza |
(LC) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
19/12/2006 |
|
|
|
|
No Protests registered |
|
|
Stefanoni |
Mauro |
|
|
|
Born in Oggiono |
(CO) |
on 18/09/1976 |
- Fiscal Code : STFMRA76P18G009I |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Attorney with special power |
19/12/2011 |
|
|
|
|
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.
|
|
STEFANONI |
FERMO PIETRO |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
COMEC - S.R.L. |
Lonate Pozzolo (VA) - IT - |
00188460125 |
Director |
Active |
Registered |
|
MAS PROJECT DUE S.R.L. |
Suello (LC) - IT - |
06238140153 |
Director |
Active |
Registered |
|
MAS PROJECT DUE S.R.L. |
Suello (LC) - IT - |
06238140153 |
Board Chairman |
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 |
|
Stefanoni Fermo Pietro |
Suello - IT - |
STFFMP47H10C572O |
5.200 .Eur |
33,33 |
|
Aldeghi Giuseppe Mario |
Suello - IT - |
LDGGPP47R09C572O |
5.200 .Eur |
33,33 |
|
Stefanoni Fermo Mario |
Cesana Brianza - IT - |
STFFMM48L09C572S |
5.200 .Eur |
33,33 |
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 |
Volta |
, 5 |
- 22030 |
- Suello |
(LC) |
- IT - |
|
|
|
|
PHONE |
: 031/655593 |
|
|
|
|
FAX |
: 031/657223 |
|
- |
Branch |
(Workshop ) |
since 16/01/1985 |
|
|
|
|
|
Via |
Volta |
, 2 |
- 22030 |
- Suello |
(LC) |
- IT - |
|
|
|
|
PHONE |
: 031/655593 |
|
- |
Branch |
|
since 05/01/1990 |
|
|
|
|
|
Via |
Don Mario Casati |
, 29 |
- 22030 |
- Suello |
(LC) |
- IT - |
|
- |
Branch |
|
since 01/03/2002 |
|
|
|
|
|
Via |
Frazione Borima |
, 16/B |
- 22030 |
- Suello |
(LC) |
- IT - |
|
- |
Branch |
(Factory ) |
since 03/12/2007 |
|
|
|
|
|
Via |
Per Annone |
, 3 |
- 22030 |
- Suello |
(LC) |
- IT - |
|
|
|
|
Employees |
: 33 |
|
|
|
|
Assistants |
: 3 |
|
Fittings and Equipment for a value of 370.000 |
Eur |
|
Stocks for a value of 4.860.000 |
Eur |
|
|
The firm operates abroad as importer / exporter. .
Export represents up to 20% of the global turnover.
Products abroad are placed by :
|
- its own sales net-work |
Import comes generally from the following nations:
|
- Grecia |
|
- Irlanda |
Export is mainly towards:
|
- Grecia |
|
- Irlanda |
Historical Information and/or Firm's Status
EX-MEMBERS / EX-POSITIONS:
|
|
Stefanoni |
Fermo Pietro |
|
|
|
Born in Cesello Brianza |
on 10/06/1947 |
- Fiscal Code : STFFMP47H10C572O |
|
|
|
Residence : |
Via |
Don Vito Rimoldi |
, 1 |
- 23867 |
Suello |
(LC) |
- IT - |
|
Ex-Postions |
|
Partner |
|
|
Aldeghi |
Giuseppe Mario |
|
|
|
Born in Cesello Brianza |
on 09/10/1947 |
- Fiscal Code : LDGGPP47R09C572O |
|
|
|
Residence : |
Via |
A. Manzoni |
, 27 |
- 23867 |
Suello |
(LC) |
- IT - |
|
Ex-Postions |
|
Partner |
|
|
Stefanoni |
Fermo Mario |
|
|
|
Born in Cesello Brianza |
on 09/07/1948 |
- Fiscal Code : STFFMM48L09C572S |
|
|
|
Residence : |
Via |
A. Stoppani |
, 4 |
- 22030 |
Cesana Brianza |
(LC) |
- IT - |
|
Ex-Postions |
|
Partner |
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
Subject is active since 1973
The economic-financial analysis has been made on the base of the b/s of
the latests three years.
During the last years, it achieved profits (r.o.e. 5,65% on 2010) and
with an upward trend in turnover trend during the last financial year (+24,05%
in 2010).
The return on Investment in the last financial year was positive (3,7%)
and reflects the field's average.
The operating result is positive and amounts to Eur. 565.198 on stable
levels if compared to the previous year.
The gross operating margin of the latest financial year is of Eur.
857.500 on the same levels as the previous financial year.
The financial position is not well balanced as the volume of debts is
fairly remarkable if compared to shareholder's equity, in fact total debts are
4,57 increasing as against 2009.
With regard to equity capital, an amount of Eur. 2.255.452 is
registered. on stable levels.
Total indebtedness was equal to Eur. 12.609.035 (Eur. 1.715.957 was the
value of m/l term debts) increasing if compared to the previous year, during
which they were equal to Eur. 9.397.597 (34,17%).
Both financial indebtedness as well as exsposure to suplliers are rated
as fairly high besides being higher than sector's average.
Liquid assets are not adequate to subject's needs.
Credits are collected in 84,17 days on the average. , a value lower than
the sector's average.
During financial year 2010 the cash flow amounted to Eur. 419.671
Labour cost amounts to Eur. 1.013.458, with a 9,15% incidence on
production costs. and a 8,98% incidence on sales volumes.
The financial management is marked by a high incidence of financial
charges in relation to sales revenues (-2,17%).
Financial Data
|
|
|
Complete balance-sheet for the year |
31/12/2010 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
11.290.719 |
|
Profit (Loss) for the period |
127.369 |
|
|
|
Complete balance-sheet for the year |
31/12/2009 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
9.101.421 |
|
Profit (Loss) for the period |
98.696 |
|
|
|
Complete balance-sheet for the year |
31/12/2008 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
14.447.427 |
|
Profit (Loss) for the period |
117.076 |
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 |
|
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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 |
0,38 |
0,41 |
0,35 |
0,20 |
|
Elasticity Ratio |
Units |
0,62 |
0,58 |
0,64 |
0,77 |
|
Availability of stock |
Units |
0,32 |
0,39 |
0,23 |
0,15 |
|
Total Liquidity Ratio |
Units |
0,30 |
0,19 |
0,41 |
0,55 |
|
Quick Ratio |
Units |
0,04 |
0,01 |
0,01 |
0,03 |
|
COMPOSITION ON
SOURCE |
|
|
|
|
|
|
Net Short-term indebtedness |
Units |
4,57 |
3,89 |
5,34 |
4,09 |
|
Self Financing Ratio |
Units |
0,15 |
0,18 |
0,14 |
0,15 |
|
Capital protection Ratio |
Units |
0,94 |
0,95 |
0,93 |
0,63 |
|
Liabilities consolidation quotient |
Units |
0,19 |
0,17 |
0,10 |
0,16 |
|
Financing |
Units |
5,59 |
4,42 |
5,77 |
5,11 |
|
Permanent Indebtedness Ratio |
Units |
0,28 |
0,30 |
0,22 |
0,31 |
|
M/L term Debts Ratio |
Units |
0,14 |
0,12 |
0,08 |
0,10 |
|
Net Financial Indebtedness Ratio |
Units |
1,65 |
2,36 |
2,07 |
1,01 |
|
CORRELATION |
|
|
|
|
|
|
Fixed assets ratio |
Units |
0,75 |
0,73 |
0,63 |
1,34 |
|
Current ratio |
Units |
0,87 |
0,84 |
0,83 |
1,09 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
0,42 |
0,27 |
0,54 |
0,85 |
|
Structure's primary quotient |
Units |
0,39 |
0,44 |
0,41 |
0,75 |
|
Treasury's primary quotient |
Units |
0,06 |
0,01 |
0,01 |
0,05 |
|
Rate of indebtedness ( Leverage ) |
% |
677,55 |
558,66 |
693,71 |
660,68 |
|
Current Capital ( net ) |
Value |
-1.410.013 |
-1.345.794 |
-1.799.305 |
80.037 |
|
RETURN |
|
|
|
|
|
|
Return on Sales |
% |
3,72 |
4,06 |
2,38 |
3,45 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
5,65 |
4,64 |
5,77 |
7,93 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
14,20 |
12,67 |
13,76 |
23,28 |
|
Return on Investment ( R.O.I. ) |
% |
3,70 |
4,96 |
3,44 |
4,91 |
|
Return/ Sales |
% |
5,01 |
6,48 |
3,35 |
4,60 |
|
Extra Management revenues/charges incid. |
% |
22,54 |
16,74 |
24,16 |
26,08 |
|
Cash Flow |
Value |
419.671 |
369.368 |
344.037 |
67.440 |
|
Operating Profit |
Value |
565.198 |
589.534 |
484.556 |
88.577 |
|
Gross Operating Margin |
Value |
857.500 |
860.206 |
711.517 |
150.352 |
|
MANAGEMENT |
|
|
|
|
|
|
Credits to clients average term |
Days |
84,17 |
58,49 |
107,09 |
126,77 |
|
Debts to suppliers average term |
Days |
181,30 |
148,92 |
138,17 |
141,48 |
|
Average stock waiting period |
Days |
154,89 |
184,58 |
80,05 |
45,00 |
|
Rate of capital employed return ( Turnover ) |
Units |
0,74 |
0,77 |
1,03 |
1,12 |
|
Rate of stock return |
Units |
2,32 |
1,95 |
4,50 |
7,83 |
|
Labour cost incidence |
% |
8,98 |
10,13 |
5,81 |
20,16 |
|
Net financial revenues/ charges incidence |
% |
- 2,17 |
- 3,51 |
- 1,42 |
- 1,63 |
|
Labour cost on purchasing expenses |
% |
9,15 |
9,17 |
5,45 |
20,64 |
|
Short-term financing charges |
% |
1,94 |
3,40 |
1,76 |
2,63 |
|
Capital on hand |
% |
135,35 |
130,63 |
97,44 |
89,16 |
|
Sales pro employee |
Value |
364.216 |
325.050 |
535.089 |
163.688 |
|
Labour cost pro employee |
Value |
32.692 |
32.938 |
31.071 |
32.485 |
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:
170.000 Eur.
Market / Territory Data
|
Population living in the province |
: |
322.150 |
|
Population living in the region |
: |
9.393.092 |
|
Number of families in the region |
: |
3.858.736 |
Monthly family expences 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 3.053 significant companies.
The companies cash their credits on an average of 126 dd.
The average duration of suppliers debts is about 141 dd.
The sector's profitability is on an average of 3,45%.
The labour cost affects the turnover in the measure of 20,16%.
Goods are held in stock in a range of 45 dd.
The difference between the sales volume and the resources used to
realize it is about 1,12.
The employees costs represent the 20,64% 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 1.666.
The insolvency index for the region is 0,55, , while for the province it
is 0,52.
Total Bankrupt companies in the province : 940.
Total Bankrupt companies in the region : 39.612.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.29 |
|
|
1 |
Rs.78.10 |
|
Euro |
1 |
Rs.65.59 |
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 SCs 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.