x
MIRA
INFORM REPORT
|
Report Date : |
16.02.2012 |
IDENTIFICATION DETAILS
|
Name : |
MALECO
S.R.L. |
|
|
|
|
Registered Office : |
Via Espinasse, 28/30, 20013- Magenta (MI) – IT- |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Date of Incorporation : |
25.10.2004 |
|
|
|
|
Legal Form : |
Sole-Member Limited Liability
Company |
|
|
|
|
Line of Business : |
Manufacture of motor vehicles |
|
|
|
|
No. of Employees : |
From 1 To 5 |
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 |
|
Maximum Credit Limit : |
60.000
- 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
|
Maleco S.r.l. |
|
Via |
Espinasse, |
28/30 |
|
20013 |
- Magenta |
(MI) |
-IT- |
Summary
|
Fiscal Code |
: |
04583620960 |
|
Legal Form |
: |
Sole-Member Limited Liability Company |
|
start of Activities |
: |
03/01/2005 |
|
Equity |
: |
200.000 Eur |
|
Turnover Range |
: |
1.500.000/2.000.000 Eur |
|
Number of Employees |
: |
from 1 to 5 |
Credit Analysis
|
Credit Opinion |
: |
60.000
- Eur |
Activity
Manufacture of motor vehicles
Legal Data
Legal Form : Sole-Member Limited
Liability Company
|
Fiscal Code : 04583620960 |
|
Chamber of Commerce no. :
1758531 of Milano since 05/11/2004 |
|
V.A.T. Code : 04583620960 |
|
Establishment date |
: 25/10/2004 |
|
|
Start of Activities |
: 03/01/2005 |
|
|
Legal duration |
: 31/12/2050 |
|
|
Nominal Capital |
: 10.000 |
Eur |
|
Subscribed Capital |
: 10.000 |
Eur |
|
Paid up Capital |
: 10.000 |
Eur |
Members
|
Malazzi |
Fabiano |
|
|
|
Born in Cuggiono |
(MI) |
on 14/08/1982 |
- Fiscal Code : MLZFBN82M14D198U |
|
|
|
Residence : |
Via |
A. De Gasperi |
, 39 ESP.B |
- 20010 |
Vittuone |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Managing Director |
23/06/2008 |
|
|
|
Director |
07/11/2005 |
|
|
|
Sole partner |
|
|
|
|
|
No Protests registered |
|
|
Restelli |
Giuseppina |
|
|
|
Born in Milano |
(MI) |
on 31/12/1962 |
- Fiscal Code : RSTGPP62T71F205V |
|
|
|
Residence : |
Via |
Salvo D'acquisto |
, 9 |
- 20010 |
Vittuone |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Managing Director |
23/06/2008 |
|
|
|
Director |
07/11/2005 |
|
|
|
|
No Protests registered |
|
|
Malazzi |
Ivano |
|
|
|
Born in Magenta |
(MI) |
on 19/04/1961 |
- Fiscal Code : MLZVNI61D19E801N |
|
|
|
Residence : |
Via |
Salvo D'acquisto |
, 9 |
- 20010 |
Vittuone |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
16/06/2008 |
|
|
|
Board Chairman |
16/06/2008 |
|
|
|
|
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.
|
|
MALAZZI |
IVANO |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
TECAM SRL |
Corbetta (MI) - IT - |
04334350727 |
Managing 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 |
|
Malazzi Fabiano |
Vittuone - IT - |
MLZFBN82M14D198U |
|
100,00 |
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 |
Espinasse |
, 28/30 |
- 20013 |
- Magenta |
(MI) |
- IT - |
|
- |
Branch |
|
since 03/01/2005 |
|
|
|
|
|
Via |
Alberto Da Giussano |
, 36 |
- 20011 |
- Corbetta |
(MI) |
- IT - |
|
|
|
|
Employees |
: 5 |
|
Fittings and Equipment for a
value of 250.000 |
Eur |
|
Stocks for a value of 48.000 |
Eur |
Historical Information and/or Firm's Status
EX-MEMBERS / EX-POSITIONS:
|
|
Malazzi |
Fabiano |
|
|
|
Born in Cuggiono |
on 14/08/1982 |
- Fiscal Code : MLZFBN82M14D198U |
|
|
|
Residence : |
Via |
A. De Gasperi |
, 39 ESP.B |
- 20010 |
Vittuone |
(MI) |
- IT - |
|
Ex-Postions |
|
Board Chairman |
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 2005
The economic-financial analysis
has been made on the base of the b/s of the latests three years.
Under the financial profile
unstable results are noted. yet with a positive result in the 2010 (r.o.e. 77,61%).
In the last financial year an increase in the turnover has been registered
(+25,91%).
The return on Investment in the
last financial year was positive (23,51%) and higler than the field average.
The amount of the operating result
for the year 2010 is of Eur. 259.676 with a more then 100% growth.
The economic management produced a
gross operating margin of Eur. 287.950 with a more then 100% growth.
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 4,69 which is decreasing.
The management generated equity
capital for an amount of Eur. 181.154 , increasing by 346,69% if compared to
the financial year 2009.
The financial management has
recorded total debts amounting to Eur. 900.671, showing a stable trend as
opposed to 2009 (Eur. 759.188).
Available funds are good.
2010 financial year closed with a
cash flow of Eur. 168.871
Subordinate employment cost is of
Eur. 194.230, i.e. 11,21% on total production costs. , whereas 9,89% is the
incidence on sales revenues.
If compared to the sales volume
(-0,88%), the impact of the financial charges is limited.
Financial Data
|
|
|
Complete balance-sheet for the
year |
31/12/2010 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
1.963.018 |
|
Profit (Loss) for the period |
140.597 |
|
|
|
Complete balance-sheet for the
year |
31/12/2009 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
1.559.026 |
|
Profit (Loss) for the period |
1.734 |
|
|
|
Complete balance-sheet for the
year |
31/12/2008 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
1.283.313 |
|
Profit (Loss) for the period |
-2.921 |
|
|
|
Complete balance-sheet for the
year |
31/12/2007 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
1.029.626 |
|
Profit (Loss) for the period |
18.945 |
|
|
Complete balance-sheet for the
year |
31/12/2006 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
630.522 |
|
Profit (Loss) for the period |
6.973 |
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 |
0,08 |
0,11 |
0,10 |
0,27 |
|
Elasticity Ratio |
Units |
0,86 |
0,82 |
0,83 |
0,59 |
|
Availability of stock |
Units |
0,04 |
0,22 |
0,34 |
0,17 |
|
Total Liquidity Ratio |
Units |
0,82 |
0,59 |
0,49 |
0,36 |
|
Quick Ratio |
Units |
0,05 |
0,00 |
0,00 |
0,01 |
|
COMPOSITION ON SOURCE |
|
|
|
|
|
|
Net Short-term indebtedness |
Units |
4,69 |
18,70 |
21,19 |
3,42 |
|
Self Financing Ratio |
Units |
0,16 |
0,05 |
0,04 |
0,17 |
|
Capital protection Ratio |
Units |
0,17 |
0,71 |
0,82 |
0,68 |
|
Liabilities consolidation
quotient |
Units |
0,02 |
0,02 |
0,03 |
0,16 |
|
Financing |
Units |
4,97 |
18,72 |
21,34 |
5,58 |
|
Permanent Indebtedness Ratio |
Units |
0,18 |
0,07 |
0,07 |
0,24 |
|
M/L term Debts Ratio |
Units |
0,01 |
0,02 |
0,03 |
0,11 |
|
Net Financial Indebtedness Ratio
|
Units |
n.c. |
n.c. |
10,47 |
1,02 |
|
CORRELATION |
|
|
|
|
|
|
Fixed assets ratio |
Units |
2,26 |
0,68 |
0,70 |
1,19 |
|
Current ratio |
Units |
1,06 |
0,88 |
0,89 |
1,24 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
1,00 |
0,64 |
0,53 |
0,82 |
|
Structure's primary quotient |
Units |
2,07 |
0,47 |
0,42 |
0,68 |
|
Treasury's primary quotient |
Units |
0,06 |
0,00 |
0,00 |
0,01 |
|
Rate of indebtedness ( Leverage
) |
% |
609,60 |
2.017,33 |
2.286,83 |
568,80 |
|
Current Capital ( net ) |
Value |
50.725 |
-90.883 |
-87.629 |
95.699 |
|
RETURN |
|
|
|
|
|
|
Return on Sales |
% |
8,60 |
1,95 |
1,78 |
2,07 |
|
Return on Equity - Net- ( R.O.E.
) |
% |
77,61 |
4,28 |
- 7,52 |
5,84 |
|
Return on Equity - Gross - (
R.O.E. ) |
% |
129,67 |
70,96 |
37,07 |
11,79 |
|
Return on Investment ( R.O.I. ) |
% |
23,51 |
5,28 |
1,83 |
3,78 |
|
Return/ Sales |
% |
13,23 |
2,77 |
1,27 |
2,84 |
|
Extra Management
revenues/charges incid. |
% |
54,14 |
4,01 |
- 17,97 |
18,34 |
|
Cash Flow |
Value |
168.871 |
30.448 |
22.869 |
112.126 |
|
Operating Profit |
Value |
259.676 |
43.224 |
16.253 |
119.829 |
|
Gross Operating Margin |
Value |
287.950 |
71.938 |
42.043 |
176.957 |
|
MANAGEMENT |
|
|
|
|
|
|
Credits to clients average term |
Days |
n.c. |
n.c. |
103,26 |
109,81 |
|
Debts to suppliers average term |
Days |
n.c. |
n.c. |
96,48 |
117,92 |
|
Average stock waiting period |
Days |
8,72 |
42,12 |
83,48 |
58,14 |
|
Rate of capital employed return
( Turnover ) |
Units |
1,78 |
1,91 |
1,45 |
1,22 |
|
Rate of stock return |
Units |
41,27 |
8,55 |
4,31 |
4,89 |
|
Labour cost incidence |
% |
9,89 |
11,19 |
10,35 |
18,45 |
|
Net financial revenues/ charges
incidence |
% |
- 0,88 |
- 1,07 |
- 1,16 |
- 1,20 |
|
Labour cost on purchasing
expenses |
% |
11,21 |
11,46 |
10,35 |
19,22 |
|
Short-term financing charges |
% |
1,96 |
2,20 |
1,83 |
2,62 |
|
Capital on hand |
% |
56,26 |
52,48 |
69,17 |
81,69 |
|
Sales pro employee |
Value |
327.169 |
311.805 |
320.828 |
192.504 |
|
Labour cost pro employee |
Value |
32.371 |
34.882 |
33.213 |
29.904 |
Market / Territory Data
|
Population living in the
province |
: |
3.839.216 |
|
Population living in the region |
: |
|
|
Number of families in the region
|
: |
|
9.393.092Monthly family expences average in
the region (in Eur.) :
|
- per food products |
: |
|
|
- per non food products |
: |
|
|
- per energy consume |
: |
|
Sector Data
The values are calculated on a
base of 92 significant companies.
The companies cash their credits
on an average of 109 dd.
The average duration of suppliers
debts is about 117 dd.
The sector's profitability is on
an average of 2,07%.
The labour cost affects the
turnover in the measure of 18,45%.
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 1,22.
The employees costs represent the
19,22% of the production costs.
Statistical Detrimental Data
The area is statistically
considered lowly risky.
In the region 50.886 protested
subjects are found; in the province they count to 24.765.
The insolvency index for the
region is 0,55, , while for the province it is 0,66.
Total Bankrupt companies in the
province : 22.523.
Total Bankrupt companies in the
region : 39.612.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.25 |
|
|
1 |
Rs.77.45 |
|
Euro |
1 |
Rs.64.89 |
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.