MIRA
INFORM REPORT
|
Report Date : |
24.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
ARTORIENT S.R.L. |
|
|
|
|
Registered Office : |
Via Pogliaghi Lodovico 1 20100 – Milano (MI) – IT - |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Date of Incorporation : |
26.01.1977 |
|
|
|
|
Legal Form : |
Sole-Member Limited Liability Company |
|
|
|
|
Line of Business : |
Wholesale of Textile Products |
|
|
|
|
No. of Employees : |
5 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
20.000 – Eur |
|
|
|
|
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 – September 30, 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 and address
Artorient S.r.l.
|
Via |
Pogliaghi Lodovico, |
1 |
|
20100 |
- Milano |
(MI) |
-IT- |
Summary
|
Fiscal Code |
: |
03504790159 |
|
Legal Form |
: |
Sole-Member Limited Liability
Company |
|
Foundation Date |
: |
26/01/1977 |
|
Equity |
: |
125.000 Eur |
|
Turnover Range |
: |
3.000.000/3.750.000 Eur |
|
Number of Employees |
: |
fom 6 to 10 |
Credit Analysis
|
Credit
Opinion |
: |
20.000
- Eur |
Activity
Wholesale of textile products
Wholesale of rugs
RETAIL TRADE (EXCEPT
Legal Data
Legal Form : Sole-Member Limited
Liability Company
|
Fiscal Code : 03504790159 |
|
Foreign Trade Reg. no. :
MI074092 since 27/12/1991 |
|
Foreign Trade Reg. no. :
074092 of Milano since 27/12/1991 |
|
Chamber of Commerce no. :
953023 of Milano since 07/02/1977 |
|
Firms' Register : MI146-172900
since 19/02/1996 |
|
V.A.T. Code : 03504790159 |
|
Foundation date |
: 26/01/1977 |
|
|
Establishment date |
: 26/01/1977 |
|
|
Legal duration |
: 31/12/2005 |
|
|
Nominal Capital |
: 95.000 |
Eur |
|
Subscribed Capital |
: 95.000 |
Eur |
|
Paid up Capital |
: 95.000 |
Eur |
Members
|
|
Arazi
|
Mourad
|
|
|
|
Born in Libano |
on 20/09/1939 |
- Fiscal Code :
RZAMRD39P20Z229C |
|
|
|
Residence : |
Via |
Palestro |
, 20 |
- 20121 |
Milano |
(MI) |
- IT - |
|
Position |
Since |
Shares
Amount |
%
Ownership |
|
Director |
22/03/2006 |
|
|
|
Assistant board Chairman |
27/04/2006 |
|
|
|
Managing Director |
27/04/2006 |
|
|
|
|
No
Protests registered |
|
|
Arazi
|
Enrico
|
|
|
|
Born in Milano |
(MI) |
on 15/10/1969 |
- Fiscal Code :
RZANRC69R15F205W |
|
|
|
Residence : |
Via |
Roncaglia |
, 13 |
- 20100 |
Milano |
(MI) |
- IT - |
|
Position |
Since |
Shares
Amount |
%
Ownership |
|
Director |
22/03/2006 |
|
|
|
Sole partner |
|
|
|
|
Managing Director |
27/04/2006 |
|
|
|
Board Chairman |
22/03/2003 |
|
|
|
|
No Protests
registered |
|
|
Sasson
|
Isi |
|
|
|
Born in Beirut |
on 18/07/1954 |
- Fiscal Code :
SSSSII54L18Z229Z |
|
|
|
Residence : |
Via |
Sardegna |
, 11 |
- 20146 |
Milano |
(MI) |
- IT - |
|
Position |
Since |
Shares
Amount |
%
Ownership |
|
Director |
22/03/2006 |
|
|
|
|
No
Protests registered |
|
|
Ceroni
|
Mauro
|
|
|
|
Born in Genova |
(GE) |
on 19/06/1948 |
- Fiscal Code :
CRNMRA48H19D969N |
|
|
|
Residence : |
Via |
Aurelia 10 I. 2 |
- 16038 |
Santa Margherita Ligure |
(GE) |
- IT - |
|
Position |
Since |
Shares
Amount |
%
Ownership |
|
Director |
22/03/2006 |
|
|
|
|
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.
|
|
ARAZI
|
MOURAD
|
|
Firm's Style |
Seat |
Fiscal
Code |
Position |
Position
Status |
Firm's
Status |
|
ARAZIPEL DI MOURAD ARAZI E C.
SAS |
Milano (MI) - IT - |
01818390153 |
General
Partner |
Active |
Registered |
|
|
ARAZI
|
ENRICO
|
|
Firm's Style |
Seat |
Fiscal
Code |
Position |
Position
Status |
Firm's
Status |
|
LIBEA S.R.L. |
Milano (MI) - IT - |
00795900158 |
Sole
Director |
Active |
Registered |
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 |
|
Arazi Enrico |
Milano - IT - |
RZANRC69R15F205W |
|
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:
|
- |
Legal
and operative seat |
|
since 26/01/1977 |
|
|
|
|
|
Via |
Pogliaghi Lodovico |
, 1 |
- 20100 |
- Milano |
(MI) |
- IT - |
|
|
|
|
PHONE |
: 02/4779151 |
|
|
|
|
PHONE |
: 02/474455 |
|
|
|
|
Employees |
: 5 |
|
|
|
|
Assistants |
: 1 |
|
Fittings and Equipment for a
value of 26.000 |
Eur |
|
Stocks for a value of
4.460.000 |
Eur |
|
|
The firm operates abroad as
importer / exporter. .
To purchase foreign products the
firm uses the following channels :
|
- direct orders to foreign
companies |
Export represents up to 20% of
the global turnover.
Products abroad are placed by :
|
- its own sales net-work |
|
- direct orders from foreign
companies |
Import comes generally from the
following nations:
|
- Iran |
|
- Afghanistan |
|
- India |
Historical
Information and/or Firm's Status
EX-MEMBERS / EX-POSITIONS
|
|
Dilmani
Samad |
|
|
on 17/08/1926 |
|
|
|
Fiscal residence : |
Via |
Donati |
, 14 |
- 20100 |
Milano |
(MI) |
- IT - |
|
Ex-Postions |
|
Limited Partner |
|
|
Arazi
Mourad |
|
|
on 20/09/1939 |
|
|
|
Fiscal residence : |
Via |
Arzaga |
, 28 |
- 20100 |
Milano |
(MI) |
- IT - |
|
Ex-Postions |
|
Limited Partner |
|
|
Nassimiha
Siyon |
|
|
on 10/09/1929 |
|
|
|
Fiscal residence : |
Via |
Arzaga |
, 24 |
- 20100 |
Milano |
(MI) |
- IT - |
|
Ex-Postions |
|
Limited Partner |
|
|
Sasson
Isi |
|
|
on 18/07/1954 |
|
|
|
Fiscal residence : |
Via |
Aretusa |
, 20 |
- 20100 |
Milano |
(MI) |
- IT - |
|
Ex-Postions |
|
General Partner |
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
Subject is active since 1977
The economic-financial analysis
has been made on the base of the b/s of the latests three years.
Unstable economic results mark
the company's financial state of affairs. yet with a positive result in the
2010 (r.o.e. 12,72%). In the last financial year a drop in sales has been
registered (-23,02%).
The operating result was
positive in the last financial year (1,81%) falling within the field's average.
An operating result of Eur.
95.533 has been registered. with a -68,89% drop.
A gross operating margine for a
value of Eur. 179.974 was reached. , with a -56,3% decrease.
Financial condition is not
balanced as own capitals do not cover debts, indebtedness level is in fact high
(31,08) which tends downward.
With regard to equity capital,
an amount of Eur. 119.488 is registered. , stable in comparison with the value
of the previous year.
During the last financial year
debts totalled Eur. 4.964.146 (Eur. 1.244.521 of which were m/l term debts) ,
with no sensible variation.
Available funds are good.
As far as the cash flow is
concerned during the latest financial year it amounted to Eur. 99.640
Labour cost amounts to Eur.
218.085, with a 7,29% incidence on production costs. , whereas the incidence on
sales revenues is of 7,14%.
High incidence of financial
charges on turnover.
Financial Data
|
|
|
Complete balance-sheet for the
year |
31/12/2010 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
3.052.624 |
|
Profit (Loss) for the period |
15.199 |
|
|
|
Complete balance-sheet for the
year |
31/12/2009 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
3.965.520 |
|
Profit (Loss) for the period |
-7.087 |
|
|
|
Complete balance-sheet for the
year |
31/12/2008 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
3.516.820 |
|
Profit (Loss) for the period |
10.976 |
|
|
|
Complete balance-sheet for the
year |
31/12/2007 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
3.607.518 |
|
Profit (Loss) for the period |
9.875 |
|
|
|
Complete balance-sheet for the
year |
31/12/2006 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
3.038.096 |
|
Profit (Loss) for the period |
-9.045 |
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 |
0,09 |
0,09 |
0,10 |
0,09 |
|
Elasticity Ratio |
Units |
0,91 |
0,91 |
0,90 |
0,89 |
|
Availability of stock |
Units |
0,85 |
0,76 |
0,79 |
0,26 |
|
Total Liquidity Ratio |
Units |
0,06 |
0,15 |
0,11 |
0,54 |
|
Quick Ratio |
Units |
0,00 |
0,00 |
0,00 |
0,03 |
|
COMPOSITION
ON SOURCE |
|
|
|
|
|
|
Net Short-term indebtedness |
Units |
31,08 |
38,34 |
36,30 |
3,95 |
|
Self Financing Ratio |
Units |
0,02 |
0,02 |
0,02 |
0,17 |
|
Capital protection Ratio |
Units |
0,08 |
0,16 |
0,05 |
0,62 |
|
Liabilities consolidation
quotient |
Units |
0,37 |
0,34 |
0,37 |
0,10 |
|
Financing |
Units |
41,55 |
50,22 |
48,83 |
4,85 |
|
Permanent Indebtedness Ratio |
Units |
0,28 |
0,27 |
0,28 |
0,29 |
|
M/L term Debts Ratio |
Units |
0,26 |
0,25 |
0,26 |
0,07 |
|
Net Financial Indebtedness
Ratio |
Units |
n.c. |
n.c. |
n.c. |
1,04 |
|
CORRELATION |
|
|
|
|
|
|
Fixed assets ratio |
Units |
3,17 |
3,07 |
2,89 |
2,37 |
|
Current ratio |
Units |
1,29 |
1,25 |
1,26 |
1,18 |
|
Acid Test Ratio-Liquidity
Ratio |
Units |
0,09 |
0,20 |
0,15 |
0,80 |
|
Structure's primary quotient |
Units |
0,25 |
0,22 |
0,20 |
1,48 |
|
Treasury's primary quotient |
Units |
0,00 |
0,00 |
0,01 |
0,04 |
|
Rate of indebtedness (
Leverage ) |
% |
4.409,67 |
5.291,12 |
5.134,93 |
602,26 |
|
Current Capital ( net ) |
Value |
1.074.818 |
998.448 |
1.056.301 |
191.984 |
|
RETURN |
|
|
|
|
|
|
Return on Sales |
% |
3,26 |
2,46 |
0,37 |
2,03 |
|
Return on Equity - Net- (
R.O.E. ) |
% |
12,72 |
-
6,80 |
9,85 |
6,31 |
|
Return on Equity - Gross - (
R.O.E. ) |
% |
37,13 |
19,71 |
33,04 |
17,00 |
|
Return on Investment ( R.O.I.
) |
% |
1,81 |
5,57 |
1,38 |
4,18 |
|
Return/ Sales |
% |
3,13 |
7,75 |
2,25 |
3,46 |
|
Extra Management
revenues/charges incid. |
% |
15,91 |
-
2,31 |
13,88 |
27,96 |
|
Cash Flow |
Value |
99.640 |
97.627 |
12.840 |
44.823 |
|
Operating Profit |
Value |
95.533 |
307.174 |
79.089 |
74.603 |
|
Gross Operating Margin |
Value |
179.974 |
411.888 |
80.953 |
111.383 |
|
MANAGEMENT |
|
|
|
|
|
|
Credits to clients average
term |
Days |
n.c. |
n.c. |
n.c. |
113,70 |
|
Debts to suppliers average
term |
Days |
n.c. |
n.c. |
n.c. |
118,14 |
|
Average stock waiting period |
Days |
526,36 |
380,16 |
460,56 |
72,90 |
|
Rate of capital employed
return ( Turnover ) |
Units |
0,58 |
0,72 |
0,61 |
1,25 |
|
Rate of stock return |
Units |
0,68 |
0,95 |
0,78 |
4,88 |
|
Labour cost incidence |
% |
7,14 |
6,36 |
9,04 |
8,14 |
|
Net financial revenues/
charges incidence |
% |
-
4,15 |
-
7,47 |
-
2,86 |
-
1,38 |
|
Labour cost on purchasing
expenses |
% |
7,29 |
6,83 |
9,25 |
8,25 |
|
Short-term financing charges |
% |
3,57 |
7,28 |
3,79 |
2,76 |
|
Capital on hand |
% |
172,61 |
139,15 |
162,62 |
79,85 |
|
Sales pro employee |
Value |
508.770 |
793.104 |
586.136 |
397.742 |
|
Labour cost pro employee |
Value |
36.347 |
50.466 |
52.986 |
33.267 |
Market / Territory Data
|
Population living in the
province |
: |
3.839.216 |
|
Population living in the
region |
: |
|
|
Number of families in the
region |
: |
|
9.393.092Monthly family expences average
in the region (in Eur.) :
|
- per food products |
: |
|
|
- per non food products |
: |
|
|
- per energy consume |
: |
|
Sector Data
The values are calculated on a
base of 9.175 significant companies.
The companies cash their credits
on an average of 113 dd.
The average duration of
suppliers debts is about 118 dd.
The sector's profitability is on
an average of 2,03%.
The labour cost affects the
turnover in the measure of 8,14%.
Goods are held in stock in a
range of 72 dd.
The difference between the sales
volume and the resources used to realize it is about 1,25.
The employees costs represent
the 8,25% of the production costs.
Statistical Detrimental Data
The area is statistically
considered lowly risky.
In the region 50.886 protested
subjects are found; in the province they count to 24.765.
The insolvency index for the
region is 0,55, , while for the province it is 0,66.
Total Bankrupt companies in the
province : 22.523.
Total Bankrupt companies in the
region : 39.612.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.50.90 |
|
|
1 |
Rs.80.77 |
|
Euro |
1 |
Rs.67.40 |
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.