MIRA INFORM REPORT

 

 

Report Date :           

19.03.2012

 

IDENTIFICATION DETAILS

 

Name :

PROFILINOX - S.P.A.

 

 

Registered Office :

Via Alfred Bernhard Nobel,  3/A Zona Industriale PIP,

43100 – Parma (PR)

 

 

Country :

Italy

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

20.03.1986

 

 

Com. Reg. No.:

PR027-16737

 

 

Legal Form :

Joint Stock Company

 

 

Line of Business :

Manufacture of tubes, pipes, hollow profiles and related fittings in steel (except those in refined steel)

 

 

No. of Employees :

26 to 35 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 :

100.000 Eur

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 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

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name & address 

 

Profilinox - S.p.a.

 

Via Alfred Bernhard Nobel,  3/A Zona Industriale PIP

 

43100 - Parma (PR) -IT-

 

 

Summary

 

Fiscal Code

:

01543470346

Legal Form

:

Joint stock company

start of Activities

:

25/09/1986

Equity

:

Over 2.582.254 Eur

Turnover Range

:

75.000.000/100.000.000 Eur

Number of Employees

:

from 26 to 35

 

 

Credit Analysis

 

Credit Opinion

:

100.000 - Eur

 

Activity

 

Manufacture of tubes, pipes, hollow profiles and related fittings in steel (except those in refined steel)

Wholesale of metalliferous minerals, ferrous metals and semi-finished products

 

Legal Data

 

Legal Form : Joint stock company

Fiscal Code : 01543470346

 

Foreign Trade Reg. no. : PR010563 since 01/12/1992

 

Chamber of Commerce no. : 161498 of Parma since 22/04/1986

 

Firms' Register : PR027-16737

 

V.A.T. Code : 01543470346

 

Tribunal Co. Register : 16737 of Parma

 

Foundation date

: 25/09/1986

Establishment date

: 20/03/1986

Start of Activities

: 25/09/1986

Legal duration

: 31/12/2050

Nominal Capital

: 1.000.000

Eur

Subscribed Capital

: 1.000.000

Eur

Paid up Capital

: 1.000.000

Eur

 

Members

 

 

Vender

Giovanni

 

 

 

Born in Parma

(PR)

on 15/08/1942

- Fiscal Code : VNDGNN42M15G337P

 

 

 

Residence :

Viale

Delle Rimembranze

, 19

- 43123

Parma

(PR)

- IT -

 

Position

Since

Shares Amount

% Ownership

Managing Director

23/07/2010

 

 

Director

29/05/2010

 

 

Board Chairman

29/05/2010

 

 

 

 

No Protests registered

 

 

Mattioli

Manuela

 

 

 

Born in Parma

(PR)

on 10/03/1947

- Fiscal Code : MTTMNL47C50G337Y

 

 

 

Residence :

Viale

Rimembranze

, 19

- 43100

Parma

(PR)

- IT -

 

Position

Since

Shares Amount

% Ownership

Managing Director

23/07/2010

 

 

Director

29/05/2010

 

 

 

 

No Protests registered

 

 

Rossi

Luciana Maria

 

 

 

Born in Milano

(MI)

on 14/09/1948

- Fiscal Code : RSSLNM48P54F205I

 

 

 

 

Residence :

Via

Feltre

, 71

- 20100

Milano

(MI)

- IT -

 

Position

Since

Shares Amount

% Ownership

Director

29/05/2010

 

 

 

 

No Protests registered

 

Companies connected to members *

 

*checkings have been performed on a national scale.

 

In this module are listed the companies in which members hold or have holded positions.

 

 

VENDER

GIOVANNI

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

ACCIAI VENDER SOCIETA' PER AZIONI

Parma (PR) - IT -

00426590345

Director

Active

Registered

ACCIAI VENDER SOCIETA' PER AZIONI

Parma (PR) - IT -

00426590345

Managing Director

Active

Registered

ALBERGO TRE VILLE S.R.L.

Parma (PR) - IT -

02052210347

Board Chairman

Active

Registered

CAPITAL E CONSULTING S.R.L.

Parma (PR) - IT -

02172960342

Board Chairman

Active

Registered

CENTRO ACCIAI INOX S.R.L.

Modugno (BA) - IT -

03986610727

Director

Active

Registered

CENTRO ACCIAI INOX S.R.L.

Modugno (BA) - IT -

03986610727

Assistant board Chairman

Withdrawn

Registered

CENTRO ACCIAI INOX S.R.L.

Modugno (BA) - IT -

03986610727

Board Chairman

Active

Registered

E.L. GIOE S.R.L.

Parma (PR) - IT -

02362970341

Board Chairman

Active

Registered

FINVEN IMMOBILIARE S.R.L.

Parma (PR) - IT -

02362990349

Director

Active

Registered

G.R.T. CAPITAL AND CONSULTING S.R.L.

Trieste (TS) - IT -

01109910321

Director

Withdrawn

Registered

G.R.T. CAPITAL AND CONSULTING S.R.L.

Trieste (TS) - IT -

01109910321

Board Chairman

Withdrawn

Registered

G.V. INTERNATIONAL S.P.A.

Parma (PR) - IT -

02238820340

Director

Active

Registered

G.V. INTERNATIONAL S.P.A.

Parma (PR) - IT -

02238820340

Board Chairman

Active

Registered

GIOE IMMOBILIARE S.R.L.

Parma (PR) - IT -

02084770342

Sole Director

Active

Registered

GRUPPO INOX - SOCIETA' PER AZIONI

Monza (MB) - IT -

02766730960

Director

Active

Registered

GRUPPO INOX - SOCIETA' PER AZIONI

Monza (MB) - IT -

02766730960

Assistant board Chairman

Active

Registered

GV - FIN S.R.L.

Parma (PR) - IT -

02387140342

Director

Withdrawn

Registered

GV - FIN S.R.L.

Parma (PR) - IT -

02387140342

Board Chairman

Withdrawn

Registered

M.A. CENTRO INOSSIDABILI SOCIETA' PER AZIONI

Calenzano (FI) - IT -

04059840480

Director

Active

Registered

M.A. CENTRO INOSSIDABILI SOCIETA' PER AZIONI

Calenzano (FI) - IT -

04059840480

Board Chairman

Active

Registered

MARIVEN S.R.L.

Gazoldo degli Ippoliti (MN) - IT -

02238870204

Director

Active

Registered

MARIVEN S.R.L.

Gazoldo degli Ippoliti (MN) - IT -

02238870204

Sole Director

Withdrawn

Registered

METALTRADING S.R.L.

Parma (PR) - IT -

02315640348

Director

Withdrawn

Registered

METALTRADING S.R.L.

Parma (PR) - IT -

02315640348

Board Chairman

Withdrawn

Registered

S.L.M. S.R.L.

Parma (PR) - IT -

02630580344

Director

Active

Registered

S.L.M. SERVICE S.R.L.

Parma (PR) - IT -

02313550267

Director

Withdrawn

Registered

 

 

MATTIOLI

MANUELA

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

ACCIAI VENDER SOCIETA' PER AZIONI

Parma (PR) - IT -

00426590345

Director

Active

Registered

ACCIAI VENDER SOCIETA' PER AZIONI

Parma (PR) - IT -

00426590345

Board Chairman

Active

Registered

E.L. GIOE S.R.L.

Parma (PR) - IT -

02362970341

Director

Active

Registered

EREDI GIULIANI EMMA VENDER - SOCIETA' IN ACCOMANDITA SEMPLICE

- -

00226770345

Liquidator

Withdrawn

Ceased

FINANZIARIA FINAI S.R.L.

Parma (PR) - IT -

01793980341

Board Chairman

Withdrawn

Registered

FININOX S.R.L.

Parma (PR) - IT -

02363050341

Director

Withdrawn

Ceased

FINVEN IMMOBILIARE S.R.L.

Parma (PR) - IT -

02362990349

Director

Active

Registered

FINVEN SPA

Monza (MI) - IT -

07788450158

Director

Withdrawn

Ceased

FINVEN SPA

Monza (MI) - IT -

07788450158

Managing Director

Withdrawn

Ceased

G.V. INTERNATIONAL S.P.A.

Parma (PR) - IT -

02238820340

Procurator

Active

Registered

GIOE IMMOBILIARE S.R.L.

Parma (PR) - IT -

02084770342

Procurator

Active

Registered

GRUPPO INOX - SOCIETA' PER AZIONI

Monza (MB) - IT -

02766730960

Director

Active

Registered

I.V.P. S.R.L.

Parma (PR) - IT -

02278090341

Procurator

Withdrawn

Registered

M.A. CENTRO INOSSIDABILI SOCIETA' PER AZIONI

Calenzano (FI) - IT -

04059840480

Director

Active

Registered

METALTRADING S.R.L.

Parma (PR) - IT -

02315640348

Procurator

Withdrawn

Registered

SIDERNASTRI INOX SRL

Monza (MI) - IT -

02471200960

Attorney with special power

Withdrawn

Ceased

VENETA INOXSERVICE S.R.L.

Thiene (VI) - IT -

00891020240

Director

Withdrawn

Ceased

 

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.

 

 

Capital Shareholders

 

Shareholders' list as at date of data collection:

 

Firm's Style / Name

Seat / Residence

Fiscal Code

Owned Shares

% Ownership

Profilinox - S.p.a.

Parma - IT -

01543470346

100.000 .Eur

10,00

Acciai Vender Societa' Per Azioni

Parma - IT -

00426590345

200.000 .Eur

20,00

G.l.r. Stardust S.r.l.

Parma - IT -

02362980340

350.000 .Eur

35,00

E.l. Gioe S.r.l.

Parma - IT -

02362970341

350.000 .Eur

35,00

Direct Participations

 

The Company under review has participations in the following Companies:

 

Firm's Style

Seat

Fiscal Code

Owned Shares Amount

% Ownership

since

until

Share Status

Profilinox - S.p.a.

Parma - IT -

01543470346

100.000 .Eur

10,00

 

 

Active

 


Firm's location and structure

 

In order to carry out its activities the firm uses the following locations:

 

-

Legal and operative seat

 

since 30/01/1990

 

 

 

 

 

Via

Alfred Bernhard Nobel

, 3/A Loc. Zona Industriale PIP

- 43100

- Parma

(PR)

- IT -

 

 

 

 

Employees

: 35

 

Fittings and Equipment for a value of 1.060.000

Eur

 

Stocks for a value of 8.140.000

Eur

 

 

 

Historical Information and/or Firm's Status

 

CHANGES TO THE LEGAL FORM:

 

Former legal form

New legal form

Changement Date

Limited liability company

Joint stock company

16/06/1987

 

COMPANY'S CAPITAL CHANGES:

 

Former Type

Former Amount

New Type

New Amount

Changement Date

subcribed,nominal and issued

46.481Eur

subcribed,nominal and issued

103.291Eur

 

 

EX-MEMBERS / EX-POSITIONS:

 

 

Vender

Giovanni

 

 

 

Born in Parma

on 15/08/1942

- Fiscal Code : VNDGNN42M15G337P

 

 

 

Residence :

Viale

Delle Rimembranze

, 19

- 43123

Parma

(PR)

- IT -

 

Ex-Postions

Chairman

Managing Director

 

 

Mattioli

Manuela

 

 

 

Born in Parma

on 10/03/1947

- Fiscal Code : MTTMNL47C50G337Y

 

 

 

Residence :

Viale

Rimembranze

, 19

- 43100

Parma

(PR)

- IT -

 

Ex-Postions

Managing Director

 

 

Vender

Giovanni

 

 

 

Born in Parma

on 15/08/1942

- Fiscal Code : VNDGNN42M15G337P

 

 

 

Residence :

Viale

Rimembranze

, 19

- 43100

Parma

(PR)

- IT -

 

Ex-Postions

Chairman

Board Chairman


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

 

Company's starting of activities dates back to 1986.

An eco-fin analysis has been made on the base od the b/s fo the years 2008, 2009 and 2010.

During the last years, it recorded positive net results (r.o.e. 9,44% in 2010) and with an upward trend in turnover trend during the last financial year (+65,23% in 2010).

The operating result was positive in the last financial year (5,37%) and in line with the sector's average.

The amount of the operating result is equal to Eur. 4.374.168 with a more then 100% growth.

During the latest financial year the gross operating margin amounted to Eur. 5.558.954 with a more then 100% growth.

The financial status of the company is fairly balanced with an indebtedness level of 1,65 yet on the increase as against the previous accounting period.

It's shareholders funds amount to Eur. 26.914.468 , unchanged if compared to 2009.

During the last financial year total debts volume reached Eur. 50.974.353 (Eur. 4.235.045 were m/l term ones) increasing if compared to the previous year, during which they were equal to Eur. 38.263.937 (33,21%).

Moderate recourse to bank credit while the exposure towards suppliers is rather high besides being higher than sector's average.

The available funds are good.

Trade credits are collected slowly, average term is 239,04 days. even if compared to the average of the sector.

2010 financial year closed with a cash flow of Eur. 3.726.143

Labour cost expenses amount to Eur. 1.413.119 , representing 1,79% on the total of production costs. and a 1,71% incidence on sales volumes.

No incidence of financial charges as lower than the incomes.


Financial Data

 

 

 

Complete balance-sheet for the year

31/12/2010

(in Eur

x 1 )

 

Item Type

Value

Sales

82.550.114

Profit (Loss) for the period

2.541.357

 

 

 

Complete balance-sheet for the year

31/12/2009

(in Eur

x 1 )

 

Item Type

Value

Sales

49.958.491

Profit (Loss) for the period

620.549

 

 

 

Complete balance-sheet for the year

31/12/2008

(in Eur

x 1 )

 

Item Type

Value

Sales

86.782.826

Profit (Loss) for the period

2.434.802

 

 

 

Complete balance-sheet for the year

31/12/2007

(in Eur

x 1 )

 

Item Type

Value

Sales

118.415.575

Profit (Loss) for the period

4.542.785

 

 

 

Complete balance-sheet for the year

31/12/2006

(in Eur

x 1 )

 

Item Type

Value

Sales

85.607.613

Profit (Loss) for the period

3.291.495



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

 

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.

530

789

5.004

. . Goodwill

 

 

 

. . Assets in formation and advance paymen.

 

 

 

. . Other intangible fixed assets

154.854

165.679

176.504

. Total Intangible Fixed Assets

155.384

166.468

181.508

. TANGIBLE FIXED ASSETS

 

 

 

. . Real estate

9.572.917

9.781.504

9.990.002

. . Plant and machinery

1.010.560

1.157.991

1.310.310

. . Industrial and commercial equipment

51.315

89.384

130.186

. . Other assets

149.033

134.807

150.279

. . Assets under construction and advances

350.000

 

 

. Total Tangible fixed assets

11.133.825

11.163.686

11.580.777

. FINANCIAL FIXED ASSETS

 

 

 

. . Equity investments

1.356.432

1.281.432

516.432

. . . Equity invest. in subsidiary companies

 

 

 

. . . Equity invest. in associated companies

 

 

 

. . . Equity invest. in holding companies

 

 

 

. . . Equity invest. in other companies

1.356.432

1.281.432

516.432

. . Financial receivables

573.450

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

573.450

 

 

. . . 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

573.450

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

573.450

 

 

. . Other securities

 

 

 

. . Own shares

1.000.000

1.000.000

1.000.000

. . . Total nominal value

 

 

 

. Total financial fixed assets

2.929.882

2.281.432

1.516.432

Total fixed assets

14.219.091

13.611.586

13.278.717

CURRENT ASSETS

 

 

 

. INVENTORIES

 

 

 

. . Raw materials and other consumables

 

 

 

. . Work in progress and semimanufactured

 

 

 

. . Work in progress on order

 

 

 

. . Finished goods

7.853.291

5.096.379

 

. . Advance payments

283.252

8.060

 

. Total Inventories

8.136.543

5.104.439

8.886.580

. CREDITS NOT HELD AS FIXED ASSETS

 

 

 

. . Within 12 months

56.317.726

45.754.215

47.578.572

. . Beyond 12 months

262.557

210.888

125.073

. . Trade receivables

54.814.169

45.206.958

46.892.060

. . . . Within 12 months

54.814.169

45.206.958

46.892.060

. . . . 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

1.392.191

504.705

581.919

. . . . Within 12 months

1.360.355

472.869

581.919

. . . . Beyond 12 months

31.836

31.836

 

. . Receivables for anticipated taxes

344.331

221.496

195.291

. . . . Within 12 months

138.081

66.915

94.796

. . . . Beyond 12 months

206.250

154.581

100.495

. . Receivables due from third parties

29.592

31.944

34.375

. . . . Within 12 months

5.121

7.473

9.797

. . . . Beyond 12 months

24.471

24.471

24.578

. Total Credits not held as fixed assets

56.580.283

45.965.103

47.703.645

. 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

2.423.728

1.022.572

1.213.773

. . Checks

 

 

 

. . Banknotes and coins

2.768

942

2.660

. Total Liquid funds

2.426.496

1.023.514

1.216.433

Total current assets

67.143.322

52.093.056

57.806.658

ADJUSTMENT ACCOUNTS

 

 

 

. Discount on loans

 

 

 

. Other adjustment accounts

40.856

217.666

302.505

Total adjustments accounts

40.856

217.666

302.505

TOTAL ASSETS

81.403.269

65.922.308

71.387.880

 

 

 

 

LIABILITIES

 

 

 

STOCKHOLDERS' EQUITY

 

 

 

. Capital stock

1.000.000

1.000.000

1.000.000

. Additional paid-in capital

 

 

 

. Revaluation reserves

7.491.045

7.491.045

7.491.045

. Legal reserve

200.000

200.000

200.000

. Reserve for Own shares

1.000.000

1.000.000

1.000.000

. Statute reserves

 

 

 

. Other reserves

14.682.066

14.061.515

11.626.713

. Accumulated Profits (Losses)

 

 

 

. Profit( loss) of the year

2.541.357

620.549

2.434.802

. Advances on dividends

 

 

 

. Partial loss of the year Coverage

 

 

 

Total Stockholders'Equity

26.914.468

24.373.109

23.752.560

RESERVES FOR RISKS AND CHARGES

 

 

 

. . Reserve for employee termination indem.

7.546

7.253

7.001

. . Taxation fund, also differed

2.970.571

2.787.300

2.870.153

. . Other funds

 

 

 

Total Reserves for Risks and Charges

2.978.117

2.794.553

2.877.154

Employee termination indemnities

491.210

430.240

391.140

ACCOUNTS PAYABLE

 

 

 

. . . . Within 12 months

46.739.308

32.950.657

37.226.746

. . . . Beyond 12 months

4.235.045

5.313.280

7.070.117

. . 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

20.945.602

23.418.427

22.613.545

. . . . Within 12 months

16.710.557

18.105.147

15.553.300

. . . . Beyond 12 months

4.235.045

5.313.280

7.060.245

. . Due to other providers of finance

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Advances from customers

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Trade payables

29.778.658

14.658.913

21.313.369

. . . . Within 12 months

29.778.658

14.658.913

21.313.369

. . . . 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

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Due to holding companies

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Due to the tax authorities

 

 

9.872

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

9.872

. . Due to social security and welfare inst.

95.783

65.527

72.063

. . . . Within 12 months

95.783

65.527

72.063

. . . . Beyond 12 months

 

 

 

. . Other payables

154.310

121.070

288.014

. . . . Within 12 months

154.310

121.070

288.014

. . . . Beyond 12 months

 

 

 

Total accounts payable

50.974.353

38.263.937

44.296.863

ADJUSTMENT ACCOUNTS

 

 

 

. Agio on loans

 

 

 

. Other adjustment accounts

45.121

60.469

70.163

Total adjustment accounts

45.121

60.469

70.163

TOTAL LIABILITIES

81.403.269

65.922.308

71.387.880

 

 

 

 

 

 

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

82.550.114

49.958.491

86.782.826

. Changes in work in progress

 

 

 

. Changes in semi-manufact. products

 

 

 

. Capitalization of internal work

 

 

 

. Other income and revenues

554.184

703.133

614.833

. . Contributions for operating expenses

 

 

 

. . Different income and revenues

554.184

703.133

614.833

Total value of production

83.104.298

50.661.624

87.397.659

PRODUCTION COSTS

 

 

 

. Raw material,other materials and consum.

76.126.898

41.962.989

78.246.410

. Services received

1.811.971

1.786.751

2.142.658

. Leases and rentals

752.657

878.077

882.709

. Payroll and related costs

1.413.119

1.230.457

1.211.698

. . Wages and salaries

1.024.946

887.501

830.207

. . Social security contributions

293.039

266.954

253.631

. . Employee termination indemnities

89.484

76.002

74.102

. . Pension and similar

 

 

 

. . Other costs

5.650

 

53.758

. Amortization and depreciation

1.184.786

899.585

611.301

. . Amortization of intangible fixed assets

11.544

15.040

79.603

. . Amortization of tangible fixed assets

436.955

448.529

289.449

. . Depreciation of tangible fixed assets

 

 

 

. . Writedown of current receiv.and of liquid

736.287

436.016

242.249

. Changes in raw materials

-2.756.912

2.191.200

-733.293

. Provisions to risk reserves

 

 

 

. Other provisions

 

 

 

. Other operating costs

197.611

87.597

101.667

Total production costs

78.730.130

49.036.656

82.463.150

Diff. between value and cost of product.

4.374.168

1.624.968

4.934.509

FINANCIAL INCOME AND EXPENSE

 

 

 

. Income from equity investments

559

1.215

2.093

. . In subsidiary companies

 

 

 

. . In associated companies

 

 

 

. . In other companies

 

 

 

. Other financial income

330.432

2.332

317.038

. . 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

330.432

2.332

317.038

. . . - Subsidiary companies

 

 

 

. . . - Associated companies

 

 

 

. . . - Holding companies

 

 

 

. . . - Other companies

 

 

 

. Interest and other financial expense

-132.669

-693.166

-1.574.395

. . Towards subsidiary companies

 

 

 

. . Towards associated companies

 

 

 

. . Towards holding companies

 

 

 

. . Towards other companies

 

-114.272

200.325

Total financial income and expense

198.322

-689.619

-1.255.264

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

39.527

189.106

51.577

. . Gains on disposals

 

 

17.050

. . Other extraordinary income

39.527

189.106

34.527

. Extraordinary expense

-596.121

-37.054

-54.139

. . Losses on disposals

 

 

 

. . Taxes relating to prior years

 

 

-322

. . Other extraordinary expense

-596.121

-37.054

-53.817

Total extraordinary income and expense

-556.594

152.052

-2.562

Results before income taxes

4.015.896

1.087.401

3.676.683

. Taxes on current income

1.474.539

466.852

1.241.881

. . current taxes

1.535.079

557.196

1.153.363

. . differed taxes(anticip.)

-60.540

90.344

88.518

. Net income for the period

2.541.357

620.549

2.434.802

. Adjustments in tax regulations pursuance

 

 

 

. Provisions in tax regulations pursuance

 

 

 

. Profit (loss) of the year

2.541.357

620.549

2.434.802

 

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

0,17

0,21

0,19

0,33

Elasticity Ratio

Units

0,82

0,79

0,81

0,64

Availability of stock

Units

0,10

0,08

0,12

0,22

Total Liquidity Ratio

Units

0,72

0,71

0,69

0,41

Quick Ratio

Units

0,03

0,02

0,02

0,01

COMPOSITION ON SOURCE

 

 

 

 

 

Net Short-term indebtedness

Units

1,65

1,31

1,52

1,76

Self Financing Ratio

Units

0,33

0,37

0,33

0,28

Capital protection Ratio

Units

0,87

0,93

0,86

0,65

Liabilities consolidation quotient

Units

0,10

0,17

0,20

0,21

Financing

Units

1,89

1,57

1,86

2,32

Permanent Indebtedness Ratio

Units

0,39

0,46

0,44

0,44

M/L term Debts Ratio

Units

0,06

0,09

0,10

0,10

Net Financial Indebtedness Ratio

Units

0,69

0,92

0,90

1,23

CORRELATION

 

 

 

 

 

Fixed assets ratio

Units

2,23

2,21

2,35

1,38

Current ratio

Units

1,44

1,58

1,55

1,17

Acid Test Ratio-Liquidity Ratio

Units

1,26

1,43

1,31

0,80

Structure's primary quotient

Units

1,89

1,79

1,79

0,84

Treasury's primary quotient

Units

0,05

0,03

0,03

0,02

Rate of indebtedness ( Leverage )

%

302,45

270,47

300,55

353,85

Current Capital ( net )

Value

20.404.014

19.142.399

20.579.912

1.089.006

RETURN

 

 

 

 

 

Return on Sales

%

4,51

3,04

3,51

4,21

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

%

9,44

2,55

10,25

5,65

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

%

14,92

4,46

15,48

10,45

Return on Investment ( R.O.I. )

%

5,37

2,46

6,91

5,10

Return/ Sales

%

5,30

3,25

5,69

5,37

Extra Management revenues/charges incid.

%

58,10

38,19

49,34

32,26

Cash Flow

Value

3.726.143

1.520.134

3.046.103

656.825

Operating Profit

Value

4.374.168

1.624.968

4.934.509

725.724

Gross Operating Margin

Value

5.558.954

2.524.553

5.545.810

1.207.677

MANAGEMENT

 

 

 

 

 

Credits to clients average term

Days

239,04

325,76

194,52

103,53

Debts to suppliers average term

Days

136,23

118,25

94,41

107,64

Average stock waiting period

Days

35,48

36,78

36,86

64,91

Rate of capital employed return ( Turnover )

Units

1,01

0,76

1,22

1,09

Rate of stock return

Units

10,15

9,79

9,77

5,55

Labour cost incidence

%

1,71

2,46

1,40

10,69

Net financial revenues/ charges incidence

%

0,24

- 1,38

- 1,45

- 1,62

Labour cost on purchasing expenses

%

1,79

2,51

1,47

11,43

Short-term financing charges

%

0,26

1,81

3,55

3,56

Capital on hand

%

98,61

131,95

82,26

91,63

Sales pro employee

Value

2.358.574

1.513.893

2.629.782

358.274

Labour cost pro employee

Value

40.374

37.286

36.718

35.860

 

 

Market / Territory Data

 

Population living in the province

:

413.198

Population living in the region

:

4.151.369

Number of families in the region

:

1.748.359

 

Monthly family expenses average in the region (in Eur.) :

 

- per food products

:

425

- per non food products

:

2.063

- per energy consume

:

143

 

Sector Data

 

The values are calculated on a base of 185 significant companies.

 

The companies cash their credits on an average of 103 dd.

The average duration of suppliers debts is about 107 dd.

The sector's profitability is on an average of 4,21%.

The labour cost affects the turnover in the measure of 10,69%.

Goods are held in stock in a range of 64 dd.

The difference between the sales volume and the resources used to realize it is about 1,09.

The employees costs represent the 11,43% of the production costs.

 

Statistical Detrimental Data

 

The area is statistically considered lowly risky.

In the region 18.860 protested subjects are found; in the province they count to 1.231.

The insolvency index for the region is 0,46, , while for the province it is 0,31.

Total Bankrupt companies in the province : 1.624.

Total Bankrupt companies in the region : 14.698.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.50.31

UK Pound

1

Rs.79.04

Euro

1

Rs.65.82

 

 

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.