MIRA INFORM REPORT

 

 

Report Date :

21.07.2012

 

IDENTIFICATION DETAILS

 

Name :

NEW MOOD S.P.A

 

 

Registered Office :

Pajetta, 7,

15048 – Valenza (AL)

 

 

Country :

Italy

 

 

Financials (as on) :

31.03.2011

 

 

Date of Incorporation :

03.12.1999

 

 

Legal Form :

Joint stock company with sole shareholder

 

 

Line of Business :

Manufacture of jewellery and related articles

 

 

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

 

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

(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

 

New Mood S.p.a.

 

 

Pajetta,

7

 

15048

- Valenza

(AL)

-IT-

 

 

 

 

 

 

Summary

 

Fiscal Code

:

12971100156

Legal Form

:

Joint stock company with sole shareholder

start of Activities

:

03/12/1999

Equity

:

Over 2.582.254

Turnover Range

:

10.000.000/12.750.000

Number of Employees

:

from 26 to 35

 

 

Highlights

 

Subject's financial situation has been badly influenced by the general economic

 

depression, which causes a further decrease of sales and a negative net result.

 

Even though the company is sustained by mother company, which in 2010 has given

 

fresh money, we suggest to have business transactions on moderate scale.

 

Activity

 

Manufacture of jewellery and related articles

Wholesale of clocks, watches and jewellery

Retail sale of watches and jewellery in specialised stores

 

 

Legal Data

 

Legal Form : Joint stock company with sole shareholder

Fiscal Code : 12971100156

 

Foreign Trade Reg. no. : 312146 of since 30/01/2001

 

Chamber of Commerce no. : 237014 of since 08/04/2009

 

Chamber of Commerce no. : 497576 of

 

Chamber of Commerce no. : 1602511 of since 30/12/1999

 

Chamber of Commerce no. : 265231 of

 

Chamber of Commerce no. : 1193171 of

 

Chamber of Commerce no. : 1090976 of

 

Firms' Register : MI-1999-278965 of since 31/12/1999

 

V.A.T. Code : 12971100156

 

Establishment date

: 03/12/1999

Start of Activities

: 03/12/1999

Legal duration

: 31/12/2050

Nominal Capital

: 1.040.000

 

Subscribed Capital

: 1.040.000

 

Paid up Capital

: 1.040.000

 

 

 

Members

 

Casa Damiani S.p.a. O In Breve C D S.p.

a. O C.d. S.p.a. O Damiani S.p.a.

 

 

 

 

Residence:

 

Damiano Grassi Damiani

, 1

- 15048

Valenza

(AL)

- IT -

 

Position

Since

Shares Amount

% Ownership

Sole partner

 

 

 

 

Grassi Damiani

Guido Roberto

 

 

Born in Alessandria

(AL)

on 22/04/1968

- Fiscal Code : GRSGRB68D22A182F

 

 

Residence:

 

Alessandria

, 48

- 15048

Valenza

(AL)

- IT -

 

Position

Since

Shares Amount

% Ownership

Director

20/07/2011

 

 

Managing Director

20/07/2011

 

 

Board Chairman

20/07/2011

 

 

 

No Prejudicial events are reported

 

No Protests registered

 

Grassi Damiani

Giorgio Andrea

 

 

Born in Alessandria

(AL)

on 01/11/1971

- Fiscal Code : GRSGGN71S01A182R

 

 

Residence:

 

Serra

, 2

- 15048

Valenza

(AL)

- IT -

 

Position

Since

Shares Amount

% Ownership

Director

20/07/2011

 

 

 

No Protests registered

 

Longagnani

Carlo

 

 

Born in Roma

(RM)

on 10/05/1960

- Fiscal Code : LNGCRL60E10H501V

 

 

Residence:

 

Raffaello Sanzio

, 21

- 20149

Milano

(MI)

- IT -

 

Position

Since

Shares Amount

% Ownership

Attorney with special power

24/06/2008

 

 

 

No Prejudicial events are reported

 

No Protests registered

 

Questa

Andrea

 

 

Born in Genova

(GE)

on 24/09/1959

- Fiscal Code : QSTNDR59P24D969G

 

 

Residence:

 

Santa Maria Di Castello

, 16

- 15100

Alessandria

(AL)

- IT -

 

Position

Since

Shares Amount

% Ownership

Director

20/07/2011

 

 

 

No Protests registered

 

Amirante

Stefano

 

 

Born in Cantu'

(CO)

on 28/02/1975

- Fiscal Code : MRNSFN75B28B639A

 

 

Residence:

 

Paietta

, 7

- 15048

Valenza

(AL)

- IT -

 

Position

Since

Shares Amount

% Ownership

Procurator

19/02/2010

 

 

 

No Prejudicial events are reported

 

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

Casa Damiani S.p.a. O In Breve C D S.p. a. O C.d. S.p.a. O Damiani S.p.a.

Valenza - IT -

01457570065

 

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'

 

 

 

 

 

 

Via

Pajetta

, 7

- 15048

- Valenza

(AL)

- IT -

 

 

 

Total Surface: 25 Sq.mt.

 

 

 

 

TELEFONO

: 02433121

 

 

 

 

FAX

: 0243312333

 

-

Unita' locale

(Negozio)

since 03/07/2008

until 30/06/2010

 

 

 

 

 

Via

Roma

, 231

- 10100

- Torino

(TO)

- IT -

 

 

 

 

Trading Style: BLISS

 

 

 

 

Total Surface: 30 Sq.mt.

 

-

Unita' locale

(Ufficio commerciale)

since 01/12/2009

 

 

 

 

 

Via

Del Vivaio

, 5

- 15048

- Valenza

(AL)

- IT -

 

-

Unita' locale

(Magazzino)

since 01/12/2009

 

 

 

 

 

Via

Cascina Maiera

- 27015

- Landriano

(PV)

- IT -

 

 

 

 

Employees

: 32

 

Fittings and Equipment for a value of 23.000

Eur

 

Stocks for a value of 3.900.000

Eur

 

 

 

The subject firm uses the following own selling brands:

- BLISS

 

 

Historical Information and/or Firm's Status

 

EX-MEMBERS / EX-POSITIONS:

 

Biscozzi

Luigi

 

 

Born in Salice Salentino

(LE)

on 02/08/1934

- Fiscal Code : BSCLGU34M02H708Q

 

 

Residence:

 

Conca Naviglio

, 35

- 20100

Milano

(MI)

- IT -

 

Ex-Postions

Chairman of the Board of Aud.

 

Nobili

Francesco Giovanni Giusep

 

 

Born in Milano

(MI)

on 29/10/1962

- Fiscal Code : NBLFNC62R29F205T

 

 

Residence:

 

Boccaccio

, 15

- 20100

Milano

(MI)

- IT -

 

Ex-Postions

Permanent Auditor

 

Fidanzia

Leonardo

 

 

Born in Bari

(BA)

on 05/05/1967

- Fiscal Code : FDNLRD67E05A662Y

 

 

Residence:

 

P. Sarpi

, 8

- 20100

Milano

(MI)

- IT -

 

Ex-Postions

Temporary Auditor

 

De Luca

Giulia

 

 

 

Born in Casalincontrada

(CH)

on 06/09/1959

- Fiscal Code : DLCGLI59P46B896Z

 

 

Residence:

 

S. Olivieri

, 61

- 66100

Chieti

(CH)

- IT -

 

Ex-Postions

Director

Managing Director

 

Grassi Damiani

Guido Roberto

 

 

Born in Alessandria

(AL)

on 22/04/1968

- Fiscal Code : GRSGRB68D22A182F

 

 

Residence:

 

Alessandria

, 48

- 15048

Valenza

(AL)

- IT -

 

Ex-Postions

Sole Director

 

Foschi

Massimo Ubaldo

 

 

Born in Milano

(MI)

on 24/09/1969

- Fiscal Code : FSCMSM69P24F205D

 

 

Residence:

 

Cino Del Duca

, 8

- 20100

Milano

(MI)

- IT -

 

Ex-Postions

Permanent Auditor

 

Graidi

Stefano

 

 

Born in Jesi

(AN)

on 20/11/1954

- Fiscal Code : GRDSFN54S20E388X

 

 

Residence:

Albertolli

, 1

Lugano

- CH -

 

Ex-Postions

Director




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.

Concern's liquidity is adequate to allow a regular economical and

financial management.

Current financial attitude is normal and allows regular settlements.

No notable criticism is expressed by common suppliers at to the

firm's business conduct which is said to be honest enough.

It suffered a loss in 2011.

Business volume is falling in the last financial year.

 


Financial Data

 

 

Complete balance-sheet for the year

31/03/2011

(in Eur

x 1)

 

Item Type

Value

Sales

12.737.093

Profit (Loss) for the period

-218.500

 

 

Complete balance-sheet for the year

31/03/2010

(in Eur

x 1)

 

Item Type

Value

Sales

13.852.445

Profit (Loss) for the period

-3.425.904

 

 

Complete balance-sheet for the year

31/03/2009

(in Eur

x 1)

 

Item Type

Value

Sales

18.081.759

Profit (Loss) for the period

-4.300.905

 

 

Complete balance-sheet for the year

31/03/2008

(in Eur

x 1)

 

Item Type

Value

Sales

21.972.367

Profit (Loss) for the period

58.758

 

 

Complete balance-sheet for the year

31/03/2007

(in Eur

x 1)

 

Item Type

Value

Sales

3.973.322

Profit (Loss) for the period

42.803

 


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 31/03/2011 - 12 Mesi - Currency: - Amounts x 1

 

- Balance Sheet as at 31/03/2010 - 12 Mesi - Currency: - Amounts x 1

 

- Balance Sheet as at 31/03/2009 - 12 Mesi - Currency: - Amounts x 1

 

Years

2011

2010

2009

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

408.681

1.737.723

 

. . Assets in formation and advance paymen.

 

 

 

. . Other intangible fixed assets

 

 

1.927.456

. Total Intangible Fixed Assets

408.681

1.737.723

1.927.456

. TANGIBLE FIXED ASSETS

 

 

 

. . Real estate

 

 

 

. . Plant and machinery

23.000

41.000

 

. . Industrial and commercial equipment

 

 

 

. . Other assets

172.388

262.359

 

. . Assets under construction and advances

 

 

 

. Total Tangible fixed assets

195.388

303.359

4.523.443

. 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

15.381

23.932

38.998

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

15.381

23.932

38.998

. . . 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

15.381

23.932

38.998

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

15.381

23.932

38.998

. . Other securities

 

 

 

. . Own shares

 

 

 

. . . Total nominal value

 

 

 

. Total financial fixed assets

15.381

23.932

38.998

Total fixed assets

619.450

2.065.014

6.489.897

CURRENT ASSETS

 

 

 

. INVENTORIES

 

 

 

. . Raw materials and other consumables

257.000

344.000

 

. . Work in progress and semimanufactured

 

 

 

. . Work in progress on order

 

 

 

. . Finished goods

3.639.109

5.439.337

 

. . Advance payments

 

 

 

. Total Inventories

3.896.109

5.783.337

10.095.568

. CREDITS NOT HELD AS FIXED ASSETS

 

 

 

. . Within 12 months

6.019.264

9.663.870

10.248.637

. . Beyond 12 months

1.266.083

1.298.172

632.082

. . Trade receivables

3.826.239

6.505.504

8.030.489

. . . . Within 12 months

3.826.239

6.505.504

8.030.489

. . . . Beyond 12 months

 

 

 

. . Receivables due from subsid. comp.

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Receivables due from assoc. comp.

433.000

1.852.253

 

. . . . Within 12 months

433.000

1.852.253

 

. . . . Beyond 12 months

 

 

 

. . Receivables due from holding comp.

1.298.000

677.000

 

. . . . Within 12 months

1.298.000

677.000

 

. . . . Beyond 12 months

 

 

 

. . Fiscal Receivables

410

275.172

43.554

. . . . Within 12 months

410

275.172

43.554

. . . . Beyond 12 months

 

 

 

. . Receivables for anticipated taxes

1.266.083

1.298.172

632.082

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

1.266.083

1.298.172

632.082

. . Receivables due from third parties

461.615

353.941

2.174.594

. . . . Within 12 months

461.615

353.941

2.174.594

. . . . Beyond 12 months

 

 

 

. Total Credits not held as fixed assets

7.285.347

10.962.042

10.880.719

. 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

 

 

 

. LIQUID FUNDS

 

 

 

. . Bank and post office deposits

1.181.602

1.190.708

 

. . Checks

 

 

 

. . Banknotes and coins

3.000

4.000

 

. Total Liquid funds

1.184.602

1.194.708

342.713

Total current assets

12.366.058

17.940.087

21.319.000

ADJUSTMENT ACCOUNTS

 

 

 

. Discount on loans

 

 

 

. Other adjustment accounts

750.000

85.000

 

Total adjustments accounts

750.000

85.000

 

TOTAL ASSETS

13.735.508

20.090.101

27.808.897

 

 

 

 

LIABILITIES

 

 

 

STOCKHOLDERS' EQUITY

 

 

 

. Capital stock

1.040.000

1.040.000

1.040.000

. Additional paid-in capital

 

 

 

. Revaluation reserves

 

 

 

. Legal reserve

 

 

 

. Reserve for Own shares

 

 

 

. Statute reserves

 

 

 

. Other reserves

2.185.443

5.611.392

3.181.279

. Accumulated Profits (Losses)

 

 

 

. Profit( loss) of the year

-218.500

-3.425.904

-4.300.905

. Advances on dividends

 

 

 

. Partial loss of the year Coverage

 

 

 

Total Stockholders'Equity

3.006.943

3.225.488

-79.626

RESERVES FOR RISKS AND CHARGES

 

 

 

. . Reserve for employee termination indem.

 

 

 

. . Taxation fund, also differed

9.977

 

232.686

. . Other funds

 

55.000

 

Total Reserves for Risks and Charges

9.977

55.000

232.686

Employee termination indemnities

189.139

180.091

191.559

ACCOUNTS PAYABLE

 

 

 

. . . . Within 12 months

9.072.449

11.264.522

13.860.193

. . . . Beyond 12 months

1.450.000

5.150.000

13.604.085

. . 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

 

455.274

15.566.689

. . . . Within 12 months

 

455.274

1.962.604

. . . . Beyond 12 months

 

 

13.604.085

. . Due to other providers of finance

 

 

491.853

. . . . Within 12 months

 

 

491.853

. . . . Beyond 12 months

 

 

 

. . Advances from customers

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Trade payables

5.885.268

7.496.249

10.941.985

. . . . Within 12 months

5.885.268

7.496.249

10.941.985

. . . . Beyond 12 months

 

 

 

. . Securities issued

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Due to subsidiary companies

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Due to associated companies

2.142.000

2.389.000

 

. . . . Within 12 months

2.142.000

2.389.000

 

. . . . Beyond 12 months

 

 

 

. . Due to holding companies

2.050.000

5.713.000

 

. . . . Within 12 months

600.000

563.000

 

. . . . Beyond 12 months

1.450.000

5.150.000

 

. . Due to the tax authorities

136.646

125.779

89.755

. . . . Within 12 months

136.646

125.779

89.755

. . . . Beyond 12 months

 

 

 

. . Due to social security and welfare inst.

38.000

61.000

 

. . . . Within 12 months

38.000

61.000

 

. . . . Beyond 12 months

 

 

 

. . Other payables

270.535

174.220

373.996

. . . . Within 12 months

270.535

174.220

373.996

. . . . Beyond 12 months

 

 

 

Total accounts payable

10.522.449

16.414.522

27.464.278

ADJUSTMENT ACCOUNTS

 

 

 

. Agio on loans

 

 

 

. Other adjustment accounts

7.000

215.000

 

Total adjustment accounts

7.000

215.000

 

TOTAL LIABILITIES

13.735.508

20.090.101

27.808.897

 

 

 

 

 

 

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

12.737.093

13.852.445

18.081.759

. Changes in work in progress

 

 

 

. Changes in semi-manufact. products

 

 

 

. Capitalization of internal work

 

 

 

. Other income and revenues

2.413.119

886.608

669.140

. . Contributions for operating expenses

 

 

 

. . Different income and revenues

2.413.119

886.608

669.140

Total value of production

15.150.212

14.739.053

18.750.899

PRODUCTION COSTS

 

 

 

. Raw material,other materials and consum.

8.129.258

10.654.793

10.945.459

. Services received

3.645.090

5.253.249

8.056.169

. Leases and rentals

830.000

1.158.000

 

. Payroll and related costs

951.422

1.194.926

1.823.601

. . Wages and salaries

680.422

853.926

 

. . Social security contributions

228.000

263.000

 

. . Employee termination indemnities

39.000

73.000

 

. . Pension and similar

 

 

 

. . Other costs

4.000

5.000

 

. Amortization and depreciation

1.538.012

545.771

824.554

. . Amortization of intangible fixed assets

79.000

180.000

 

. . Amortization of tangible fixed assets

97.000

365.771

 

. . Depreciation of tangible fixed assets

1.261.012

 

 

. . Writedown of current receiv.and of liquid

101.000

 

 

. Changes in raw materials

 

 

 

. Provisions to risk reserves

 

55.000

 

. Other provisions

 

 

 

. Other operating costs

17.000

221.041

1.035.367

Total production costs

15.110.782

19.082.780

22.685.150

Diff. between value and cost of product.

39.430

-4.343.727

-3.934.251

FINANCIAL INCOME AND EXPENSE

 

 

 

. Income from equity investments

 

 

 

. . In subsidiary companies

 

 

 

. . In associated companies

 

 

 

. . In other companies

 

 

 

. Other financial income

16.531

42.703

 

. . Financ.income from receivables

 

 

 

. . . Towards subsidiary companies

 

 

 

. . . Towards associated companies

 

 

 

. . . Towards holding companies

 

 

 

. . . Towards other companies

 

 

 

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

 

 

 

. . 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

-200.241

-389.035

-1.398.063

. . Towards subsidiary companies

 

 

 

. . Towards associated companies

 

 

 

. . Towards holding companies

 

 

 

. . Towards other companies

 

 

-1.398.063

Total financial income and expense

-183.710

-346.332

-1.398.063

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

 

 

7.505

. . Gains on disposals

 

 

 

. . Other extraordinary income

 

 

7.505

. Extraordinary expense

 

 

 

. . Losses on disposals

 

 

 

. . Taxes relating to prior years

 

 

 

. . Other extraordinary expense

 

 

 

Total extraordinary income and expense

 

 

7.505

Results before income taxes

-144.280

-4.690.059

-5.324.809

. Taxes on current income

74.220

-1.264.155

-1.023.904

. . current taxes

114.220

275.000

 

. . differed taxes(anticip.)

-40.000

-1.539.155

-1.023.904

. Net income for the period

-218.500

-3.425.904

-4.300.905

. Adjustments in tax regulations pursuance

 

 

 

. Provisions in tax regulations pursuance

 

 

 

. Profit (loss) of the year

-218.500

-3.425.904

-4.300.905

 

RATIOS

Value Type

as at 31/03/2011

as at 31/03/2010

as at 31/03/2009

Sector Average

COMPOSITION ON INVESTMENT

 

 

 

 

 

Rigidity Ratio

Units

0,05

0,10

0,23

0,09

Elasticity Ratio

Units

0,90

0,89

0,76

0,89

Availability of stock

Units

0,28

0,29

0,36

0,26

Total Liquidity Ratio

Units

0,62

0,61

0,40

0,54

Quick Ratio

Units

0,09

0,06

0,01

0,03

COMPOSITION ON SOURCE

 

 

 

 

 

Net Short-term indebtedness

Units

2,62

3,12

n.c.

3,95

Self Financing Ratio

Units

0,22

0,16

n.c.

0,17

Capital protection Ratio

Units

0,73

1,74

n.c.

0,62

Liabilities consolidation quotient

Units

0,18

0,47

0,99

0,10

Financing

Units

3,50

5,09

n.c.

4,85

Permanent Indebtedness Ratio

Units

0,34

0,43

0,49

0,29

M/L term Debts Ratio

Units

0,12

0,27

0,49

0,07

Net Financial Indebtedness Ratio

Units

0,00

0,00

n.c.

1,04

CORRELATION

 

 

 

 

 

Fixed assets ratio

Units

7,50

4,14

2,11

2,37

Current ratio

Units

1,36

1,59

1,53

1,18

Acid Test Ratio-Liquidity Ratio

Units

0,93

1,08

0,80

0,80

Structure's primary quotient

Units

4,85

1,56

n.c.

1,48

Treasury's primary quotient

Units

0,13

0,11

0,02

0,04

Rate of indebtedness ( Leverage )

%

456,79

622,85

n.c.

602,26

Current Capital ( net )

Value

3.293.609

6.675.565

7.458.807

191.984

RETURN

 

 

 

 

 

Return on Sales

%

10,36

-20,79

-19,22

2,03

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

%

-7,27

-106,21

n.c.

6,31

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

%

-4,80

-145,41

n.c.

17,00

Return on Investment ( R.O.I. )

%

0,29

-21,62

-14,14

4,18

Return/ Sales

%

0,31

-31,36

-21,75

3,46

Extra Management revenues/charges incid.

%

-554,15

n.c.

n.c.

27,96

Cash Flow

Value

1.319.512

-2.880.133

-3.476.351

44.823

Operating Profit

Value

39.430

-4.343.727

-3.934.251

74.603

Gross Operating Margin

Value

1.577.442

-3.742.956

-3.109.697

111.383

MANAGEMENT

 

 

 

 

 

Credits to clients average term

Days

108,14

169,07

159,87

113,70

Debts to suppliers average term

Days

287,82

329,04

207,28

118,14

Average stock waiting period

Days

110,12

150,30

200,98

72,90

Rate of capital employed return ( Turnover )

Units

0,93

0,69

0,65

1,25

Rate of stock return

Units

3,27

2,40

1,79

4,88

Labour cost incidence

%

7,47

8,63

10,08

8,14

Net financial revenues/ charges incidence

%

-1,44

-2,50

-7,73

-1,38

Labour cost on purchasing expenses

%

6,30

6,26

8,03

8,25

Short-term financing charges

%

1,90

2,37

5,09

2,76

Capital on hand

%

107,84

145,03

153,79

79,85

Sales pro employee

Value

553.786

477.670

322.889

397.742

Labour cost pro employee

Value

41.366

41.204

32.564

33.267

 

Credit Opinion Determination

 

The credit opinion determination is divided into two phases :

1) Risk analysis (Score).

2) Reliability score identification.

 

Risk Analysis (Score)

 

On the base of precise indicators as "Activity sector", "Area", "Firm's foundation", "Payment analysis","Profitability", we analysed the companies included in the same activity sector of subject company, classifying them by their own risk score.

 

The company under review falls within the range of Low risk.

 

Reliability Score

 

Considering also subject's structural and behavioural characteristics its credit margin rate (from 0 to 100%) is equal to 68%, in respect of a sector average of 42%.

 

Remarks

 

1) Protests checking (relative to the last five years) performed by crossing and matching the members names and the Firm's Style with the reported addresses, is supplied by the Informatic Registry managed by the Italian Chamber of Commerce. If the fiscal code is not indicated, the eventual homonymous cases are submitted to expert staff evaluation in order to limit wrong matching risks.

 

2) The Legal Data, supplied and retrived from the Firm's Registry of the Italian Chamber of Commerce, are in line with the last registered modifications.

 

3) Risk evaluation and Credit Opinion have been performed on the base of the actual data at the moment of their availability.

 

DIAMOND INDUSTRY – INDIA

 

-          From time immemorial, India is well known in the world as the birthplace for diamonds.  It is difficult to trace the origin of diamonds but history says that in the remote past, diamonds were mined only in India. Diamond production in India can be traced back to almost 8th Century B.C.  India, in fact, remained undisputed leader till 18th Century when Brazilian fields were discovered in 1725 followed by emergence of S. Africa, Russia and Australia.

-          The achievement of the Indian diamond industry was possible only due to combination of the manufacturing skills of the Indian workforce and the untiring and unflagging efforts of the Indian diamantaires, supported by progressive Government policies.

-          The area of study of family owned diamond businesses derives its importance from the huge conglomerate of family run organizations which operate in the diamond industry since many generations.

-          Some of the basic traits of family run business enterprises include spirit of entrepreneurship, mutual trust lowers transaction costs, small, nimble and quick to react, information as a source of advantage and philanthropy.

-          Family owned diamond businesses need to improve on many fronts including higher standard of corporate governance, long-term performance – focused strategies, modern management and technology.

-          The diamond jewellery industry in India today may be more than Rs 60000 mil and is rated amongst the fastest growing  in the world. Indi ranks third in the world in domestic diamond consumption.

-          Utmost caution is to be exercised while dealing with some medium and large diamond traders which are usually engaged in fictitious import – export, inter-company transactions, financially assisted by banks. In the process, several public sector banks lost several hundred million rupees. They mostly diverted borrowed money for diamond business into real estate and capital markets.

-          Excerpts from Times of India dated 30th October 2010 is as under –

DIAMOND SAGA – DIRTY DOZEN STUCK WITH 2K CR DEBT

This could be the biggest credibility crisis the Indian diamond industry has ever faced. Fifteen banks run the risk of losing Rs 2000 crore lent to a dozen diamond firms in Surat. Until about two months ago, they had not repaid  these dues. Bankers believe many diamantaires borrowed money during the economic downturn two years ago and diverted funds to businesses like real estate and capital markets. Many of themselves made money from these businesses but their diamond companies have gone sick and declared insolvency.

-          Most of the money borrowed from the banks in the name of their diamond business has been diverted in real estate and the share market. The banks are not in a position to seize their properties because in many cases, these were purchased in the name of their relatives and friends.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.15

UK Pound

1

Rs.86.58

Euro

1

Rs.67.60

 

INFORMATION DETAILS

 

Report Prepared by :

SDA

 

 

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%)

 

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.