|
Report Date : |
28.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
CADCHOD S.R.L. |
|
|
|
|
Registered Office : |
Spadari, 7, 20100- Milano (MI) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
07.01.1998 |
|
|
|
|
Com. Reg. No.: |
MI-1997-295336 of since 11/11/1997 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Wholesale of clocks, watches
and jewellery |
|
|
|
|
No. of Employees : |
06 -10 employees |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
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 |
Cadchod S.r.l.
Spadari, 7
20100 - Milano (MI) -IT-
|
Fiscal Code |
: |
12235880155 |
|
Legal Form |
: |
Limited liability company |
|
start of Activities |
: |
07/01/1998 |
|
Equity |
: |
750.000 |
|
Turnover Range |
: |
3.750.000/5.000.000 |
|
Number of Employees |
: |
fom 6 to 10 |
Wholesale of clocks, watches and
jewellery
Retail sale of watches,
jewellery and silverware
Legal Form : Limited liability
company
|
Fiscal Code : 12235880155 |
|
Chamber of Commerce no. : 1542181 of since
13/11/1997 |
|
Firms' Register : MI-1997-295336 of since
11/11/1997 |
|
V.A.T. Code : 12235880155 |
|
Establishment date |
: 18/09/1997 |
|
|
Start of Activities |
: 07/01/1998 |
|
|
Legal duration |
: 31/12/2030 |
|
|
Nominal Capital |
: 19.800 |
|
|
Subscribed Capital |
: 19.800 |
|
|
Paid up Capital |
: 19.800 |
|
|
|
Yekutiel |
Ron |
|
|
|
Born in Kfar Saba |
( ) |
on 16/04/1958 |
- Fiscal Code : YKTRNO58D16Z226I |
|
|
|
Residence: |
|
Arzaga |
, 24 |
- 20146 |
Milano |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Sole Director |
01/03/2002 |
|
|
|
|
No
Prejudicial events are reported |
|
|
No Protests
registered |
*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.
Shareholders' list as at date of
data collection:
|
Firm's Style / Name |
Seat / Residence |
Fiscal Code |
Owned Shares |
% Ownership |
|
Societa' Italiana Di Revisione E Fiducia
Ria S.i.re.f.s.p.a In For Ma Abbreviata |
Milano - IT - |
01840910150 |
9.702 .Eur |
49,00 |
|
Intesa Sanpaolo Trust Company Fiduciaria
S.p.a. |
Milano - IT - |
08503890157 |
10.098 .Eur |
51,00 |
The Company under review has no
participations in other Companies.
In order to carry out its
activities the firm uses the following locations:
|
- |
Sede legale e di
attivita' |
|
|
|
|
|
|
Via |
Spadari |
, 7 |
- 20100 |
- Milano |
(MI) |
- IT - |
|
|
|
|
TELEFONO |
: 0286915700 |
|
|
|
|
Employees |
: 6 |
|
Fittings and Equipment for a value of
320.000 |
Eur |
|
Stocks for a value of 2.190.000 |
Eur |
The firm has a direct commercial
organization
Sales area on a regional scale.
|
|
Protests checking on the subject
firm has given a negative result.
Search performed on a National
Scale
|
|
|
Prejudicial
Events Search Result: NEGATIVE |
Search performed on a
specialized data base.
None reported, standing to the
latest received edition of the Official Publications.
The subject has operated for
along.
Concern's liquidity is adequate
to allow a regular economical and
financial management.
Subject's payment experiences we
record are all positive.
Commercial transactions with
suppliers have proved good so far.
No claims are registered.
the financial period 2011 closed
with a profit.
The turnover is growing in the
last financial year (+41,68%).
Financial Data
|
|
|
Complete balance-sheet for the year |
31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
4.277.265 |
|
Profit (Loss) for the period |
32.437 |
|
|
|
Complete balance-sheet for the year |
31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
3.018.832 |
|
Profit (Loss) for the period |
4.968 |
|
|
|
Complete balance-sheet for the year |
31/12/2009 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
2.489.650 |
|
Profit (Loss) for the period |
-152.749 |
|
|
|
Complete balance-sheet for the year |
31/12/2008 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
4.105.565 |
|
Profit (Loss) for the period |
-218.464 |
|
|
|
Complete balance-sheet for the year |
31/12/2007 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
3.729.747 |
|
Profit (Loss) for the period |
51.627 |
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 31/12/2011 - 12 Mesi - Currency: - Amounts x 1 |
|
- 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 |
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
RATIOS |
Value Type |
as at 31/12/2011 |
as at 31/12/2010 |
as at 31/12/2009 |
Sector Average |
|
COMPOSITION ON
INVESTMENT |
|
|
|
|
|
|
Rigidity Ratio |
Units |
0,00 |
0,00 |
0,00 |
0,09 |
|
Elasticity Ratio |
Units |
1,00 |
1,00 |
0,99 |
0,89 |
|
Availability of stock |
Units |
0,40 |
0,40 |
0,31 |
0,26 |
|
Total Liquidity Ratio |
Units |
0,59 |
0,60 |
0,69 |
0,54 |
|
Quick Ratio |
Units |
0,00 |
0,00 |
0,00 |
0,03 |
|
COMPOSITION ON
SOURCE |
|
|
|
|
|
|
Net Short-term indebtedness |
Units |
7,07 |
5,38 |
4,74 |
3,95 |
|
Self Financing Ratio |
Units |
0,12 |
0,15 |
0,16 |
0,17 |
|
Capital protection Ratio |
Units |
0,92 |
0,01 |
1,21 |
0,62 |
|
Liabilities consolidation quotient |
Units |
0,02 |
0,02 |
0,06 |
0,10 |
|
Financing |
Units |
7,09 |
5,40 |
4,96 |
4,85 |
|
Permanent Indebtedness Ratio |
Units |
0,13 |
0,17 |
0,21 |
0,29 |
|
M/L term Debts Ratio |
Units |
0,01 |
0,02 |
0,05 |
0,07 |
|
Net Financial Indebtedness Ratio |
Units |
3,97 |
4,14 |
3,44 |
1,04 |
|
CORRELATION |
|
|
|
|
|
|
Fixed assets ratio |
Units |
57,78 |
67,00 |
57,00 |
2,37 |
|
Current ratio |
Units |
1,16 |
1,21 |
1,28 |
1,18 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
0,69 |
0,73 |
0,88 |
0,80 |
|
Structure's primary quotient |
Units |
52,20 |
60,40 |
43,99 |
1,48 |
|
Treasury's primary quotient |
Units |
0,00 |
0,00 |
0,00 |
0,04 |
|
Rate of indebtedness ( Leverage ) |
% |
824,07 |
655,47 |
609,63 |
602,26 |
|
Current Capital ( net ) |
Value |
744.064 |
717.652 |
822.775 |
191.984 |
|
RETURN |
|
|
|
|
|
|
Return on Sales |
% |
1,21 |
0,29 |
-5,47 |
2,03 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
4,91 |
0,79 |
-24,53 |
6,31 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
11,63 |
6,21 |
-25,40 |
17,00 |
|
Return on Investment ( R.O.I. ) |
% |
6,79 |
7,29 |
-1,09 |
4,18 |
|
Return/ Sales |
% |
8,64 |
9,93 |
-1,67 |
3,46 |
|
Extra Management revenues/charges incid. |
% |
8,78 |
1,66 |
n.c. |
27,96 |
|
Cash Flow |
Value |
51.870 |
8.729 |
-136.069 |
44.823 |
|
Operating Profit |
Value |
369.484 |
299.885 |
-41.491 |
74.603 |
|
Gross Operating Margin |
Value |
388.917 |
303.646 |
-24.811 |
111.383 |
|
MANAGEMENT |
|
|
|
|
|
|
Credits to clients average term |
Days |
266,02 |
287,71 |
348,81 |
113,70 |
|
Debts to suppliers average term |
Days |
166,56 |
90,52 |
220,91 |
118,14 |
|
Average stock waiting period |
Days |
184,53 |
194,78 |
168,89 |
72,90 |
|
Rate of capital employed return ( Turnover
) |
Units |
0,79 |
0,73 |
0,66 |
1,25 |
|
Rate of stock return |
Units |
1,95 |
1,85 |
2,13 |
4,88 |
|
Labour cost incidence |
% |
5,02 |
6,91 |
7,86 |
8,14 |
|
Net financial revenues/ charges incidence |
% |
-6,86 |
-8,52 |
-4,69 |
-1,38 |
|
Labour cost on purchasing expenses |
% |
5,50 |
7,67 |
7,73 |
8,25 |
|
Short-term financing charges |
% |
6,28 |
7,62 |
3,78 |
2,76 |
|
Capital on hand |
% |
127,16 |
136,26 |
152,45 |
79,85 |
|
Sales pro employee |
Value |
712.877 |
503.138 |
497.930 |
397.742 |
|
Labour cost pro employee |
Value |
35.806 |
34.765 |
39.151 |
33.267 |
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.55.41 |
|
UK Pound |
1 |
Rs.86.93 |
|
Euro |
1 |
Rs.68.10 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.