MIRA INFORM REPORT
|
Report Date : |
03.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
TECNORAMA - S.R.L. |
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|
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Registered Office : |
Via Onorio Vannucchi, 15/15-1-2-3, 50047 – Prato (PO) |
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Country : |
Italy |
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|
Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
06.11.1984 |
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|
Legal Form : |
Limited Liability Company |
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Line of Business : |
Manufacture of textile machinery, machinery and systems
for auxiliary treatment of textiles, sewing and weaving machines |
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|
|
|
No. of Employees
: |
11 to 15 employees |
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 : |
200.000 Eur |
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|
|
|
Status : |
Satisfactory |
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|
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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 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Tecnorama - S.r.l.
Via Onorio Vannucchi, 15/15-1-2-3
50047 - Prato (PO) -IT-
|
Fiscal Code |
: |
03550900488 |
|
Legal Form |
: |
Limited liability company |
|
start of Activities |
: |
06/11/1984 |
|
Equity |
: |
500.000 Eur |
|
Turnover Range |
: |
5.000.000/6.500.000 Eur |
|
Number of Employees |
: |
from 11 to 15 |
|
Credit Opinion |
: |
200.000 - Eur |
Manufacture of textile
machinery, machinery and systems for auxiliary treatment of textiles, sewing
and weaving machines (including spar e parts and accessories)
Legal Form : Limited liability
company
|
Fiscal Code : 03550900488 |
|
Foreign Trade Reg. no. : PO003512 since
20/12/1991 |
|
Chamber of Commerce no. : 371590 of Prato
since 22/02/1985 |
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V.A.T. Code : 00307430975 |
|
Establishment date |
: 06/11/1984 |
|
|
Start of Activities |
: 06/11/1984 |
|
|
Legal duration |
: 31/12/2020 |
|
|
Nominal Capital |
: 100.000 |
Eur |
|
Subscribed Capital |
: 100.000 |
Eur |
|
Paid up Capital |
: 100.000 |
Eur |
|
|
Barni |
Romana |
|
|
|
Born in Prato |
(FI) |
on 14/03/1941 |
- Fiscal Code : BRNRMN41C54G999P |
|
|
|
Residence : |
Via |
Di San Quirico |
, 25 |
- 51100 |
Pistoia |
(PT) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Sole Director |
|
|
|
|
|
No Protests
registered |
|
|
Scatizzi |
Mario |
|
|
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Born in Vernio |
(FI) |
on 02/08/1942 |
- Fiscal Code : SCTMRA42M02L775A |
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|
|
Residence : |
Via |
Di San Quirico |
, 25 |
- 51100 |
Pistoia |
(PT) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Procurator |
|
|
|
|
|
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 |
|
Barni Romana |
Pistoia - IT - |
BRNRMN41C54G999P |
41.176 .Eur |
41,17 |
|
Scatizzi Mario |
Pistoia - IT - |
SCTMRA42M02L775A |
41.176 .Eur |
41,17 |
|
Bartalucci Moreno |
|
BRTMRN67L17M059R |
17.647 .Eur |
17,64 |
The Company under review has no
participations in other Companies.
In order to carry out its
activities the firm uses the following locations:
|
- |
Legal and
operative seat |
|
|
|
|
|
|
Via |
Onorio Vannucchi |
, 15/15-1-2-3 |
- 50047 |
- Prato |
(PO) |
- IT - |
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PHONE |
: 0574/4624416 |
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PHONE |
: 0574/51321 |
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FAX |
: 0574/513200 |
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|
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Employees |
: 14 |
|
Fittings and Equipment for a value of
240.000 |
Eur |
|
Stocks for a value of 780.000 |
Eur |
|
|
The firm operates abroad as
importer / exporter. .
Export represents more than 50%
of the global turnover.
Products abroad are placed by :
|
- its own agents |
Export is mainly towards:
|
- Grecia |
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.
Subject is active since 1984
The economic-financial analysis
is based on the latest 3 b/s.
Unstable economic results mark
the company's financial state of affairs. with a profit (r.o.e. 35,68%) in the last
financial year In the last financial year an increase in the turnover has been
registered (more then 100%).
The operating result was
positive in the last financial year (10,34%) falling within the field's
average.
The amount of the operating
result for the year 2010 is of Eur. 261.547 showing an upward trend more then
100% compared to the previous financial year.
The gross operating margin of
the latest financial year is of Eur. 373.718 showing an upward trend if
compared to 2009.
The analysis shows a fair
financial position as the indebtedness volume is acceptable (2,6) but with an
increase as against the previous accounting period.
The equity capital is equal to
Eur. 423.028 , stable in comparison with the value of the previous year.
Total debts (both short and M/L
term) equals Eur. 1.851.604, , with no sensible variation.
Bank and suppliers credit
recourse is limited, 87,83 gg. is payment average period which is also lower
than the sector average.
Payments are supported by good
current assets.
Credits are collected in 17,31
days on the average. , lower than the sector's average.
The financial management
generated a cash flow of Eur. 263.127.
Labour cost expenses amount to
Eur. 848.128 , representing 16,12% on the total of production costs. , whereas the
incidence of such costs on sales revenues is equal to 14,81%.
The incidence of the financial
charges is of -0,76% on the sales amount.
Financial Data
|
|
|
Complete balance-sheet for the year |
31/12/2010 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
5.727.124 |
|
Profit (Loss) for the period |
150.956 |
|
|
|
Complete balance-sheet for the year |
31/12/2009 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
2.086.972 |
|
Profit (Loss) for the period |
-278.743 |
|
|
|
Complete balance-sheet for the year |
31/12/2008 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
4.019.451 |
|
Profit (Loss) for the period |
-209.919 |
|
|
|
Complete balance-sheet for the year |
31/12/2007 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
4.905.407 |
|
Profit (Loss) for the period |
6.459 |
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 |
0,16 |
0,21 |
0,13 |
0,18 |
|
Elasticity Ratio |
Units |
0,83 |
0,79 |
0,87 |
0,80 |
|
Availability of stock |
Units |
0,31 |
0,52 |
0,43 |
0,24 |
|
Total Liquidity Ratio |
Units |
0,52 |
0,26 |
0,44 |
0,48 |
|
Quick Ratio |
Units |
0,30 |
0,08 |
0,06 |
0,03 |
|
COMPOSITION ON
SOURCE |
|
|
|
|
|
|
Net Short-term indebtedness |
Units |
2,60 |
2,52 |
3,14 |
3,25 |
|
Self Financing Ratio |
Units |
0,17 |
0,18 |
0,21 |
0,19 |
|
Capital protection Ratio |
Units |
0,41 |
1,44 |
1,16 |
0,63 |
|
Liabilities consolidation quotient |
Units |
0,14 |
0,54 |
0,08 |
0,19 |
|
Financing |
Units |
4,38 |
3,99 |
3,43 |
3,80 |
|
Permanent Indebtedness Ratio |
Units |
0,27 |
0,47 |
0,27 |
0,36 |
|
M/L term Debts Ratio |
Units |
0,10 |
0,29 |
0,06 |
0,11 |
|
Net Financial Indebtedness Ratio |
Units |
0,00 |
2,50 |
2,27 |
0,63 |
|
CORRELATION |
|
|
|
|
|
|
Fixed assets ratio |
Units |
1,63 |
2,28 |
2,14 |
1,75 |
|
Current ratio |
Units |
1,13 |
1,48 |
1,20 |
1,21 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
0,71 |
0,49 |
0,61 |
0,81 |
|
Structure's primary quotient |
Units |
1,02 |
0,88 |
1,67 |
1,03 |
|
Treasury's primary quotient |
Units |
0,40 |
0,14 |
0,08 |
0,06 |
|
Rate of indebtedness ( Leverage ) |
% |
598,08 |
552,28 |
470,91 |
516,42 |
|
Current Capital ( net ) |
Value |
240.699 |
570.034 |
462.762 |
422.465 |
|
RETURN |
|
|
|
|
|
|
Return on Sales |
% |
4,59 |
- 7,23 |
- 0,65 |
3,35 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
35,68 |
- 68,47 |
- 30,61 |
5,13 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
51,89 |
- 66,22 |
- 25,33 |
14,77 |
|
Return on Investment ( R.O.I. ) |
% |
10,34 |
- 11,67 |
- 1,42 |
4,16 |
|
Return/ Sales |
% |
4,57 |
- 12,57 |
- 1,14 |
4,11 |
|
Extra Management revenues/charges incid. |
% |
57,72 |
n.c. |
n.c. |
28,57 |
|
Cash Flow |
Value |
263.127 |
-150.818 |
-26.065 |
122.482 |
|
Operating Profit |
Value |
261.547 |
-262.286 |
-45.813 |
144.751 |
|
Gross Operating Margin |
Value |
373.718 |
-134.361 |
138.041 |
241.990 |
|
MANAGEMENT |
|
|
|
|
|
|
Credits to clients average term |
Days |
17,31 |
64,59 |
91,06 |
111,85 |
|
Debts to suppliers average term |
Days |
87,83 |
93,71 |
51,18 |
128,30 |
|
Average stock waiting period |
Days |
48,81 |
203,01 |
123,79 |
80,43 |
|
Rate of capital employed return ( Turnover
) |
Units |
2,26 |
0,93 |
1,24 |
1,08 |
|
Rate of stock return |
Units |
7,38 |
1,77 |
2,91 |
4,45 |
|
Labour cost incidence |
% |
14,81 |
32,52 |
20,25 |
19,12 |
|
Net financial revenues/ charges incidence |
% |
- 0,76 |
- 2,74 |
- 1,94 |
- 1,08 |
|
Labour cost on purchasing expenses |
% |
16,12 |
29,22 |
19,76 |
19,02 |
|
Short-term financing charges |
% |
2,42 |
3,60 |
3,53 |
2,68 |
|
Capital on hand |
% |
44,18 |
107,72 |
80,35 |
91,91 |
|
Sales pro employee |
Value |
440.548 |
160.536 |
309.188 |
198.432 |
|
Labour cost pro employee |
Value |
65.240 |
52.200 |
62.595 |
35.779 |
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:
200.000
Eur.
|
Population living in the province |
: |
238.826 |
|
Population living in the region |
: |
3.598.269 |
|
Number of families in the region |
: |
1.474.681 |
Monthly family expenses average
in the region (in Eur.) :
|
- per food products |
: |
444 |
|
- per non food products |
: |
2.009 |
|
- per energy consume |
: |
122 |
The values are calculated on a
base of 1.206 significant companies.
The companies cash their credits
on an average of 111 dd.
The average duration of
suppliers debts is about 128 dd.
The sector's profitability is on
an average of 3,35%.
The labour cost affects the
turnover in the measure of 19,12%.
Goods are held in stock in a
range of 80 dd.
The difference between the sales
volume and the resources used to realize it is about 1,08.
The employees costs represent
the 19,02% of the production costs.
The area is statistically
considered moderately risky.
In the region 24.960 protested
subjects are found; in the province they count to 2.055.
The insolvency index for the
region is 0,70, , while for the province it is 0,88.
Total Bankrupt companies in the
province : 3.109.
Total Bankrupt companies in the
region : 20.423.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.35 |
|
UK Pound |
1 |
Rs.78.68 |
|
Euro |
1 |
Rs.65.63 |
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.