MIRA INFORM REPORT
|
Report Date : |
21.02.2012 |
IDENTIFICATION DETAILS
|
Name : |
PORTE FRIGORIFERE INDUSTRIALI S.R.L. |
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Registered Office : |
Contrada Juncio Testasecca, s.n., 93100 - Caltanissetta (CL) |
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Country : |
Italy |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
20.03.1998 |
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Com. Reg. No.: |
CL-1998-7186 since 10/04/1998 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Manufacture of metal doors and windows |
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No. of Employees
: |
from 26 to 35 |
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 |
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|
|
Status : |
Satisfactory |
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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 |
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Moderate |
B1 |
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High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company name & address
Porte Frigorifere Industriali S.r.l.
Contrada Juncio Testasecca, s.n.
93100 - Caltanissetta (CL) -IT-
|
Fiscal Code |
: |
01485880858 |
|
Legal Form |
: |
Limited liability company |
|
start of Activities |
: |
30/09/1999 |
|
Equity |
: |
400.000 Eur |
|
Turnover Range |
: |
2.250.000/3.000.000 Eur |
|
Number of Employees |
: |
from 26 to 35 |
|
Credit Opinion |
: |
60.000 - Eur |
Manufacture of metal doors and windows
Manufacture of non-domestic cooling and
ventilation equipment
Legal Form : Limited liability company
|
Fiscal Code : 01485880858 |
|
Foreign Trade Reg. no. : CL002686 since
20/07/2000 |
|
Chamber of Commerce no. : 80177 of
Caltanissetta since 16/04/1998 |
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Firms' Register : CL-1998-7186 since
10/04/1998 |
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V.A.T. Code : 01485880858 |
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Establishment date |
: 20/03/1998 |
|
|
Start of Activities |
: 30/09/1999 |
|
|
Legal duration |
: 30/04/2028 |
|
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Nominal Capital |
: 119.000 |
Eur |
|
Subscribed Capital |
: 119.000 |
Eur |
|
Paid up Capital |
: 119.000 |
Eur |
|
|
Giammusso |
Arialdo Graziano |
|
|
|
Born in Roma |
(RM) |
on 13/10/1972 |
- Fiscal Code : GMMRDG72R13H501A |
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|
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Residence : |
Contrada |
Niscima |
, 4 |
- 93100 |
Caltanissetta |
(CL) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Sole Director |
20/03/1998 |
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|
|
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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.
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GIAMMUSSO |
ARIALDO GRAZIANO |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
GIAMMUSSO ARIALDO GRAZIANO |
Caltanissetta (CL) - IT - |
GMMRDG72R13H501A |
Proprietor |
Active |
Registered |
|
SIVE SOCIETA' A RESPONSABILITA' LIMITATA O
IN FORMA ABBREVIATA SIVE S.R.L. |
Caltanissetta (CL) - IT - |
01758080855 |
Managing
Director |
Active |
Registered |
|
SIVE SOCIETA' A RESPONSABILITA' LIMITATA O
IN FORMA ABBREVIATA SIVE S.R.L. |
Caltanissetta (CL) - IT - |
01758080855 |
Director |
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.
Shareholders' list as at date of data
collection:
|
Firm's Style / Name |
Seat / Residence |
Fiscal Code |
Owned Shares |
% Ownership |
|
Giammusso Arialdo Graziano |
Caltanissetta - IT - |
GMMRDG72R13H501A |
39.667 .Eur |
33,33 |
|
Giammusso Grazia |
|
GMMGRZ76E65B429M |
39.667 .Eur |
33,33 |
|
Giammusso Letizia Ilenia |
|
GMMLZL77A51B429X |
39.666 .Eur |
33,33 |
The Company under review has participations
in the following Companies:
|
Firm's Style |
Seat |
Fiscal Code |
Owned Shares
Amount |
% Ownership |
since |
until |
Share Status |
|
Isolgate S.r.l. |
|
01686090851 |
80.000 .Eur |
80,00 |
|
|
Active |
In order to carry out its activities the
firm uses the following locations:
|
- |
Legal and
operative seat |
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Contrada |
Juncio Testasecca |
, s.n. |
- 93100 |
- Caltanissetta |
(CL) |
- IT - |
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|
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PHONE |
: 0934/566247 |
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|
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FAX |
: 0934/566547 |
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- |
Branch |
|
since 17/10/2011 |
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Contrada |
Mangiaresta |
, s.n. Loc. Ss 640 Svincolo S.cataldo |
- 93100 |
- Caltanissetta |
(CL) |
- IT - |
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Trading Style: AGEM |
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Employees |
: 27 |
|
Fittings and Equipment for a value of
810.000 |
Eur |
|
Stocks for a value of 1.480.000 |
Eur |
|
|
Protests checking on the subject firm has
given a negative result.
None reported, standing to the latest
received edition of the Official Publications.
Subject is active since 1999
The balance-sheet analysis has been made on
the base of the latest 2 financial years.
In the economic management , good and bad
results followed on by turns. with a profit (r.o.e. 0,77%) in the last
financial year In the last financial year a drop in sales has been registered
(-21,68%).
The return on Investment in the last
financial year was positive (3,64%) and reflects the field's average.
The amount of the operating result for the
year 2010 is of Eur. 168.395 with an increase of more then 100% if the compared
to the previous financial year.
The gross operating margin of the latest
financial year is of Eur. 253.450 with a more then 100% growth.
The ratio between shareholder's equity and
borrowed capital is not well balanced, the indebtedness level is equal to 7,31
which is also improving if compared to the previous year.
Subject can manage an equity capital funds
for an amount of Eur. 372.820 on stable levels.
Total debts recorded amounted to Eur.
3.912.898 (Eur. 1.058.272 of which were m/l term debts) , a more or less stable
value.
Current liquid assets is positive.
As far as the cash flow is concerned during
the latest financial year it amounted to Eur. 87.929
In the last financial year labour cost was
of Eur. 786.818, with a 30,37% incidence on total costs of production. ,
whereas the incidence of such costs on sales revenues is equal to 32,6%.
Finacial chareges are high: the incidence on
sales volume amounts to -4,07%
Financial Data
|
|
|
Complete balance-sheet for the year |
31/12/2010 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
2.413.761 |
|
Profit (Loss) for the period |
2.874 |
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|
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Complete balance-sheet for the year |
31/12/2009 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
3.082.142 |
|
Profit (Loss) for the period |
-263.130 |
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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RATIOS |
Value
Type |
as at 31/12/2010 |
as at 31/12/2009 |
Sector Average |
|
COMPOSITION ON
INVESTMENT |
|
|
|
|
|
Rigidity Ratio |
Units |
0,07 |
0,08 |
0,20 |
|
Elasticity Ratio |
Units |
0,89 |
0,87 |
0,77 |
|
Availability of stock |
Units |
0,32 |
0,33 |
0,15 |
|
Total Liquidity Ratio |
Units |
0,57 |
0,54 |
0,55 |
|
Quick Ratio |
Units |
0,03 |
0,05 |
0,03 |
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COMPOSITION ON
SOURCE |
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|
|
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Net Short-term indebtedness |
Units |
7,31 |
6,16 |
4,09 |
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Self Financing Ratio |
Units |
0,08 |
0,08 |
0,15 |
|
Capital protection Ratio |
Units |
0,67 |
1,39 |
0,63 |
|
Liabilities consolidation quotient |
Units |
0,49 |
0,65 |
0,16 |
|
Financing |
Units |
10,50 |
10,19 |
5,11 |
|
Permanent Indebtedness Ratio |
Units |
0,38 |
0,44 |
0,31 |
|
M/L term Debts Ratio |
Units |
0,30 |
0,36 |
0,10 |
|
Net Financial Indebtedness Ratio |
Units |
n.c. |
n.c. |
1,01 |
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CORRELATION |
|
|
|
|
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Fixed assets ratio |
Units |
5,79 |
5,75 |
1,34 |
|
Current ratio |
Units |
1,44 |
1,56 |
1,09 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
0,93 |
0,96 |
0,85 |
|
Structure's primary quotient |
Units |
1,22 |
1,07 |
0,75 |
|
Treasury's primary quotient |
Units |
0,05 |
0,09 |
0,05 |
|
Rate of indebtedness ( Leverage ) |
% |
1.240,81 |
1.217,50 |
660,68 |
|
Current Capital ( net ) |
Value |
1.268.940 |
1.410.218 |
80.037 |
|
RETURN |
|
|
|
|
|
Return on Sales |
% |
3,64 |
- 5,75 |
3,45 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
0,77 |
- 71,13 |
7,93 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
21,08 |
- 63,13 |
23,28 |
|
Return on Investment ( R.O.I. ) |
% |
3,64 |
- 2,87 |
4,91 |
|
Return/ Sales |
% |
6,98 |
- 4,20 |
4,60 |
|
Extra Management revenues/charges incid. |
% |
1,71 |
n.c. |
26,08 |
|
Cash Flow |
Value |
87.929 |
-177.278 |
67.440 |
|
Operating Profit |
Value |
168.395 |
-129.404 |
88.577 |
|
Gross Operating Margin |
Value |
253.450 |
-43.552 |
150.352 |
|
MANAGEMENT |
|
|
|
|
|
Credits to clients average term |
Days |
n.c. |
n.c. |
126,77 |
|
Debts to suppliers average term |
Days |
n.c. |
n.c. |
141,48 |
|
Average stock waiting period |
Days |
220,15 |
175,31 |
45,00 |
|
Rate of capital employed return ( Turnover
) |
Units |
0,52 |
0,68 |
1,12 |
|
Rate of stock return |
Units |
1,64 |
2,05 |
7,83 |
|
Labour cost incidence |
% |
32,60 |
34,59 |
20,16 |
|
Net financial revenues/ charges incidence |
% |
- 4,07 |
- 3,99 |
- 1,63 |
|
Labour cost on purchasing expenses |
% |
30,37 |
32,85 |
20,64 |
|
Short-term financing charges |
% |
2,51 |
3,27 |
2,63 |
|
Capital on hand |
% |
191,65 |
146,13 |
89,16 |
|
Sales pro employee |
Value |
100.573 |
93.398 |
163.688 |
|
Labour cost pro employee |
Value |
32.784 |
32.302 |
32.485 |
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:
60.000 Eur.
|
Population living in the province |
: |
275.221 |
|
Population living in the region |
: |
5.013.081 |
|
Number of families in the region |
: |
1.842.252 |
Monthly family expenses average in the
region (in Eur.) :
|
- per food products |
: |
425 |
|
- per non food products |
: |
1.256 |
|
- per energy consume |
: |
69 |
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.
The area is statistically considered
remarkably risky.
In the region 54.738 protested subjects are found;
in the province they count to 2.320.
The insolvency index for the region is 1,09,
, while for the province it is 0,84.
Total Bankrupt companies in the province :
581.
Total Bankrupt companies in the region :
14.491.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.21 |
|
UK Pound |
1 |
Rs.77.75 |
|
Euro |
1 |
Rs.64.58 |
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.