MIRA INFORM REPORT

 

 

Report Date :

04.07.2012

 

IDENTIFICATION DETAILS

 

Name :

ELSA S.R.L.

 

 

Registered Office :

Petrizia S. N., 88050 Sellia Marina (CZ)-IT-

 

 

Country :

Italy

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

30.04.1997

 

 

Legal Form :

Sole-Member Limited Liability Company

 

 

Line of Business :

Manufacture of metal forming machinery

 

 

No. of Employees :

10

 

 

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

 

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 – March 31st, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

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

 

Elsa s.r.l.

 

 

Petrizia,

s.n.

 

88050

- Sellia Marina

(CZ)

-IT-

 

 

Summary

 

Fiscal Code

:

00982600793

Legal Form

:

Sole-Member Limited Liability Company

start of Activities

:

30/04/1997

Equity

:

300.000

Turnover Range

:

1.000.000/1.250.000

Number of Employees

:

fom 6 to 10

 

 

Activity

 

Manufacture of metal forming machinery

 

Legal Data

 

Legal Form : Sole-Member Limited Liability Company

Fiscal Code : 00982600793

 

Chamber of Commerce no. : 153441 of since 28/04/1997

 

Firms' Register : CZ-1997-20890 of since 02/04/1997

 

V.A.T. Code : 00982600793

 

Establishment date

: 13/02/1997

Start of Activities

: 30/04/1997

Legal duration

: 31/12/2050

Nominal Capital

: 10.400

 

Subscribed Capital

: 10.400

 

Paid up Capital

: 10.400

 

 

Members

 

 

Russo

Evangelista

 

 

 

Born in Catanzaro

(CZ)

on 16/06/1948

- Fiscal Code : RSSVGL48H16C352Y

 

 

 

Residence:

 

Margherita

, SNC

- 88050

Sellia Marina

(CZ)

- IT -

 

Position

Since

Shares Amount

% Ownership

Sole Director

08/09/2003

 

 

 

 

Prejudicial Events found with cancellations*

 

 

No Protests registered

 

*Concerns also partially erased events.

 

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

Russo Evangelista

Sellia Marina - IT -

RSSVGL48H16C352Y

10.400 .Eur

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:

 

-

Sede legale e di attivita'

 

 

 

 

 

 

Localita'

Petrizia

, s.n.

- 88050

- Sellia Marina

(CZ)

- IT -

 

 

 

 

TELEFONO

: 0961969804

 

 

 

 

FAX

: 0961968716

 

 

 

 

Employees

: 7

 

Fittings and Equipment for a value of 130.000

Eur

 

Stocks for a value of 100.000

Eur

 

 

 

Protests

 

Protests checking on the subject firm has given a negative result.

 

Data Base Prejudicial Events Search

 

Search performed on a National Scale

 

 

 

Prejudicial Events Search Result: NEGATIVE

 

Search performed on a specialized data base.

 

Legal Procedures

 

None reported, standing to the latest received edition of the Official Publications.

 

Financial and Economical Analysis

 

The subject has operated for along.

Good financial conditions. They let the firm meet business

requirements without problems.

It has a well-balanced economical-financial structure. Normally,

engagments are settled on fixed terms.

Correct trade relations. No meaningful remark is expressed by

usual suppliers.

A positive economic result was achieved..

Upward trend as to the turnover in the last financial year (+25,89%).


Financial Data

 

 

 

Complete balance-sheet for the year

31/12/2010

(in Eur

x 1)

 

Item Type

Value

Sales

1.163.443

Profit (Loss) for the period

9.427

 

 

 

Complete balance-sheet for the year

31/12/2009

(in Eur

x 1)

 

Item Type

Value

Sales

924.127

Profit (Loss) for the period

18.011

 

 

 

Complete balance-sheet for the year

31/12/2008

(in Eur

x 1)

 

Item Type

Value

Sales

1.303.109

Profit (Loss) for the period

119.831

 

 

 

Complete balance-sheet for the year

31/12/2007

(in Eur

x 1)

 

Item Type

Value

Sales

1.036.717

Profit (Loss) for the period

27.540



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: - Amounts x 1

 

- Balance Sheet as at 31/12/2009 - 12 Mesi - Currency: - Amounts x 1

 

- Balance Sheet as at 31/12/2008 - 12 Mesi - Currency: - Amounts x 1

 

Years

2010

2009

2008

BALANCE SHEET ACCOUNTS

 

ASSETS

 

 

 

CREDITS VS PARTNERS

 

 

 

. Deposits not yet withdrawn

 

 

 

. Deposits already withdrawn

 

 

 

Total credits vs partners

 

 

 

FIXED ASSETS

 

 

 

. INTANGIBLE FIXED ASSETS

 

 

 

. . Start-up and expansion expenses

 

 

 

. . Research,develop. and advert.expens.

 

 

 

. . Industrial patent rights

 

 

 

. . Concessions,licenses,trademarks,etc.

 

 

 

. . Goodwill

 

 

 

. . Assets in formation and advance paymen.

 

 

 

. . Other intangible fixed assets

 

 

 

. Total Intangible Fixed Assets

48.945

44.723

480

. TANGIBLE FIXED ASSETS

 

 

 

. . Real estate

 

 

 

. . Plant and machinery

 

 

 

. . Industrial and commercial equipment

 

 

 

. . Other assets

 

 

 

. . Assets under construction and advances

 

 

 

. Total Tangible fixed assets

159.156

151.060

143.542

. FINANCIAL FIXED ASSETS

 

 

 

. . Equity investments

 

 

 

. . . Equity invest. in subsidiary companies

 

 

 

. . . Equity invest. in associated companies

 

 

 

. . . Equity invest. in holding companies

 

 

 

. . . Equity invest. in other companies

 

 

 

. . Financial receivables

5.310

5.310

 

. . . . Within 12 months

5.310

5.310

 

. . . . Beyond 12 months

 

 

 

. . . Receivab due from subsidiaries

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . . Receivables due from assoc.comp.

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . . Receivables due from holding comp.

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . . Receivables due from third parties

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Other securities

 

 

 

. . Own shares

 

 

 

. . . Total nominal value

 

 

 

. Total financial fixed assets

5.310

5.310

5.310

Total fixed assets

213.411

201.093

149.332

CURRENT ASSETS

 

 

 

. INVENTORIES

 

 

 

. . Raw materials and other consumables

 

 

 

. . Work in progress and semimanufactured

 

 

 

. . Work in progress on order

 

 

 

. . Finished goods

 

 

 

. . Advance payments

 

 

 

. Total Inventories

100.187

169.418

200.941

. CREDITS NOT HELD AS FIXED ASSETS

 

 

 

. . Within 12 months

321.466

454.901

317.043

. . Beyond 12 months

 

 

 

. . Trade receivables

125.917

244.511

 

. . . . Within 12 months

125.917

244.511

 

. . . . Beyond 12 months

 

 

 

. . Receivables due from subsid. comp.

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Receivables due from assoc. comp.

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Receivables due from holding comp.

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Fiscal Receivables

189.080

210.390

 

. . . . Within 12 months

189.080

210.390

 

. . . . Beyond 12 months

 

 

 

. . Receivables for anticipated taxes

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Receivables due from third parties

6.469

 

 

. . . . Within 12 months

6.469

 

 

. . . . Beyond 12 months

 

 

 

. Total Credits not held as fixed assets

321.466

454.901

317.043

. FINANCIAL ASSETS

 

 

 

. . Equity invest. in subsidiary comp.

 

 

 

. . Equity invest. in associated companies

 

 

 

. . Equity invest. in holding companies

 

 

 

. . Other equity investments

 

 

 

. . Own shares

 

 

 

. . . Total nominale value

 

 

 

. . Other securities

 

 

 

. Total Financial Assets

75.000

67.000

52.000

. LIQUID FUNDS

 

 

 

. . Bank and post office deposits

 

 

 

. . Checks

 

 

 

. . Banknotes and coins

 

 

 

. Total Liquid funds

60.564

128.722

153.190

Total current assets

557.217

820.041

723.174

ADJUSTMENT ACCOUNTS

 

 

 

. Discount on loans

 

 

 

. Other adjustment accounts

37.856

59.602

15.100

Total adjustments accounts

37.856

59.602

15.100

TOTAL ASSETS

808.484

1.080.736

887.606

 

 

 

 

LIABILITIES

 

 

 

STOCKHOLDERS' EQUITY

 

 

 

. Capital stock

10.400

10.400

10.400

. Additional paid-in capital

 

 

 

. Revaluation reserves

 

 

 

. Legal reserve

3.821

3.821

3.821

. Reserve for Own shares

 

 

 

. Statute reserves

 

 

 

. Other reserves

271.453

253.445

133.614

. Accumulated Profits (Losses)

 

 

 

. Profit( loss) of the year

9.427

18.011

119.831

. Advances on dividends

 

 

 

. Partial loss of the year Coverage

 

 

 

Total Stockholders'Equity

295.101

285.677

267.666

RESERVES FOR RISKS AND CHARGES

 

 

 

. . Reserve for employee termination indem.

 

 

 

. . Taxation fund, also differed

 

 

 

. . Other funds

 

 

 

Total Reserves for Risks and Charges

28.516

40.398

28.516

Employee termination indemnities

46.933

39.802

56.669

ACCOUNTS PAYABLE

 

 

 

. . . . Within 12 months

268.153

531.256

313.859

. . . . Beyond 12 months

80.168

74.610

88.200

. . Bonds

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Convertible bonds repayable

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Due to shareholders for financing

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Due to banks

14.672

22.754

 

. . . . Within 12 months

6.150

 

 

. . . . Beyond 12 months

8.522

22.754

 

. . Due to other providers of finance

19.790

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

19.790

 

 

. . Advances from customers

15.627

 

 

. . . . Within 12 months

15.627

 

 

. . . . Beyond 12 months

 

 

 

. . Trade payables

196.635

51.856

 

. . . . Within 12 months

196.635

 

 

. . . . Beyond 12 months

 

51.856

 

. . Securities issued

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Due to subsidiary companies

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Due to associated companies

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Due to holding companies

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Due to the tax authorities

22.945

 

 

. . . . Within 12 months

22.945

 

 

. . . . Beyond 12 months

 

 

 

. . Due to social security and welfare inst.

10.476

 

 

. . . . Within 12 months

10.476

 

 

. . . . Beyond 12 months

 

 

 

. . Other payables

68.176

 

 

. . . . Within 12 months

16.320

 

 

. . . . Beyond 12 months

51.856

 

 

Total accounts payable

348.321

605.866

402.059

ADJUSTMENT ACCOUNTS

 

 

 

. Agio on loans

 

 

 

. Other adjustment accounts

89.613

108.993

132.696

Total adjustment accounts

89.613

108.993

132.696

TOTAL LIABILITIES

808.484

1.080.736

887.606

 

 

 

 

 

 

MEMORANDUM ACCOUNTS

 

Third party goods

 

 

 

Investment accounts

 

 

 

Risk accounts

 

 

 

Civil and fiscal norms relation

 

 

 

 

 

 

 

 

 

PROFIT AND LOSS ACCOUNTS

 

VALUE OF PRODUCTION

 

 

 

. Revenues from sales and services

1.163.443

924.127

1.303.109

. Changes in work in progress

-71.040

-42.283

 

. Changes in semi-manufact. products

 

 

 

. Capitalization of internal work

 

 

 

. Other income and revenues

34.782

104.958

247.997

. . Contributions for operating expenses

 

 

14.807

. . Different income and revenues

34.782

104.958

233.190

Total value of production

1.127.185

986.802

1.551.106

PRODUCTION COSTS

 

 

 

. Raw material,other materials and consum.

461.972

404.707

428.794

. Services received

272.738

202.505

355.682

. Leases and rentals

71.134

64.080

28.210

. Payroll and related costs

236.423

213.907

389.585

. . Wages and salaries

174.451

155.776

293.859

. . Social security contributions

47.687

44.328

78.453

. . Employee termination indemnities

13.305

13.803

17.047

. . Pension and similar

 

 

 

. . Other costs

980

 

226

. Amortization and depreciation

37.885

27.742

83.923

. . Amortization of intangible fixed assets

1.505

566

53.882

. . Amortization of tangible fixed assets

36.380

27.176

30.041

. . Depreciation of tangible fixed assets

 

 

 

. . Writedown of current receiv.and of liquid

 

 

 

. Changes in raw materials

-1.809

-15.210

924

. Provisions to risk reserves

 

 

 

. Other provisions

 

 

 

. Other operating costs

20.550

4.660

11.002

Total production costs

1.098.893

902.391

1.298.120

Diff. between value and cost of product.

28.292

84.411

252.986

FINANCIAL INCOME AND EXPENSE

 

 

 

. Income from equity investments

 

 

 

. . In subsidiary companies

 

 

 

. . In associated companies

 

 

 

. . In other companies

 

 

 

. Other financial income

957

629

894

. . Financ.income from receivables

 

 

 

. . . Towards subsidiary companies

 

 

 

. . . Towards associated companies

 

 

 

. . . Towards holding companies

 

 

 

. . . Towards other companies

 

 

 

. . Financ.income from secur. t.f.assets

532

504

476

. . Financ.income from secur. cur.assets

 

 

 

. . Financ.income other than the above

 

 

 

. . . - Subsidiary companies

 

 

 

. . . - Associated companies

 

 

 

. . . - Holding companies

 

 

 

. . . - Other companies

 

 

 

. Interest and other financial expense

-10.423

-14.046

-22.611

. . Towards subsidiary companies

 

 

 

. . Towards associated companies

 

 

 

. . Towards holding companies

 

 

 

. . Towards other companies

 

 

 

Total financial income and expense

-9.466

-13.417

-21.717

ADJUSTMENTS TO FINANCIAL ASSETS

 

 

 

. Revaluations

 

 

 

. . Of equity investments

 

 

 

. . Of financ.fixed assets not repres.E.I.

 

 

 

. . Of securities incl.among current assets

 

 

 

. Devaluation

 

 

 

. . Of equity investments

 

 

 

. . Of financial fixed assets (no equity inv)

 

 

 

. . Of securities included among current ass

 

 

 

Total adjustments to financial assets

 

 

 

EXTRAORDINARY INCOME AND EXPENSE

 

 

 

. Extraordinary income

2.919

-329

241

. . Gains on disposals

 

 

 

. . Other extraordinary income

2.919

-329

241

. Extraordinary expense

-133

-25.894

-32.465

. . Losses on disposals

 

 

 

. . Taxes relating to prior years

-76

-24.492

-32.197

. . Other extraordinary expense

-57

-1.402

-268

Total extraordinary income and expense

2.786

-26.223

-32.224

Results before income taxes

21.612

44.771

199.045

. Taxes on current income

12.185

26.760

79.214

. . current taxes

23.826

14.636

50.365

. . differed taxes(anticip.)

-11.641

12.124

28.849

. Net income for the period

9.427

18.011

119.831

. Adjustments in tax regulations pursuance

 

 

 

. Provisions in tax regulations pursuance

 

 

 

. Profit (loss) of the year

9.427

18.011

119.831

 

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

0,26

0,19

0,17

0,17

Elasticity Ratio

Units

0,69

0,76

0,81

0,80

Availability of stock

Units

0,12

0,16

0,23

0,27

Total Liquidity Ratio

Units

0,57

0,60

0,59

0,50

Quick Ratio

Units

0,17

0,18

0,23

0,03

COMPOSITION ON SOURCE

 

 

 

 

 

Net Short-term indebtedness

Units

0,70

1,41

0,60

3,14

Self Financing Ratio

Units

0,37

0,26

0,30

0,19

Capital protection Ratio

Units

0,93

0,90

0,51

0,68

Liabilities consolidation quotient

Units

0,47

0,22

0,46

0,18

Financing

Units

1,18

2,12

1,50

3,79

Permanent Indebtedness Ratio

Units

0,52

0,37

0,46

0,34

M/L term Debts Ratio

Units

0,16

0,11

0,16

0,09

Net Financial Indebtedness Ratio

Units

0,00

0,00

n.c.

0,77

CORRELATION

 

 

 

 

 

Fixed assets ratio

Units

1,98

1,99

2,76

1,75

Current ratio

Units

2,08

1,54

2,30

1,23

Acid Test Ratio-Liquidity Ratio

Units

1,70

1,22

1,66

0,78

Structure's primary quotient

Units

1,38

1,42

1,79

1,04

Treasury's primary quotient

Units

0,51

0,37

0,65

0,05

Rate of indebtedness ( Leverage )

%

273,97

378,31

331,61

518,96

Current Capital ( net )

Value

289.064

288.785

409.315

406.983

RETURN

 

 

 

 

 

Return on Sales

%

4,07

4,95

15,64

3,69

Return on Equity - Net- ( R.O.E. )

%

3,19

6,30

44,77

5,16

Return on Equity - Gross - ( R.O.E. )

%

7,32

15,67

74,36

17,72

Return on Investment ( R.O.I. )

%

3,50

7,81

28,50

3,94

Return/ Sales

%

2,43

9,13

19,41

4,48

Extra Management revenues/charges incid.

%

33,32

21,34

47,37

26,52

Cash Flow

Value

47.312

45.753

203.754

142.024

Operating Profit

Value

28.292

84.411

252.986

126.602

Gross Operating Margin

Value

66.177

112.153

336.909

241.461

MANAGEMENT

 

 

 

 

 

Credits to clients average term

Days

38,96

95,25

n.c.

116,01

Debts to suppliers average term

Days

87,84

27,81

n.c.

127,79

Average stock waiting period

Days

31,00

66,00

55,51

96,89

Rate of capital employed return ( Turnover )

Units

1,44

0,86

1,47

1,03

Rate of stock return

Units

11,61

5,45

6,49

3,58

Labour cost incidence

%

20,32

23,15

29,90

21,20

Net financial revenues/ charges incidence

%

-0,81

-1,45

-1,67

-1,00

Labour cost on purchasing expenses

%

21,51

23,70

30,01

20,95

Short-term financing charges

%

2,99

2,32

5,62

2,70

Capital on hand

%

69,49

116,95

68,11

96,90

Sales pro employee

Value

166.206

154.021

938

191.520

Labour cost pro employee

Value

33.774

35.651

280

39.641

 

 

SOURCES

 

Our Company collects data from public registers, lists, archives or contained in Acts and/or documents (held by the National Chamber of Commerce or Immovables Territorial Agency), users, reporters or however generally accessible (for example, from categorical lists, statistical institutes, press reports and from public inspection internet sites).

 

The present report is supplied for Your exclusive use and is bond to the general conditions of the contract. Personal Data collection and treatment, reported, are conform to our company's activities and to Your mandate conferred to us by Your request, for the purposes in relation to Marketing Management, Sales and Monetary Administration. It does not contain, nor could contain, information cancelled by a justified opposition right.

 

 

FOREIGN EXCHANGE RATES

 

Currency

Unit

Indian Rupees

US Dollar

1

Rs.54.81

UK Pound

1

Rs.86.03

Euro

1

Rs.69.06

 

 

INFORMATION DETAILS

 

Report Prepared by :

PDT

 

 

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

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NB

                                       New Business

 

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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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.