MIRA INFORM REPORT

 

 

Report Date :

24.05.2012

 

IDENTIFICATION DETAILS

 

Name :

STARTEX S.R.L.

 

 

Registered Office :

Centro Direzionale Isola G1,   25, 80100   - Napoli (NA)     

 

 

Country :

Italy

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

27.11.1985

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Wholesaler of clothing and accessories

 

 

No. of Employees :

16 to 25 employee

 

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

 

 

Company name & address 

 

Startex S.r.l.

 

Centro Direzionale Isola G1,  25

 

80100 - Napoli (NA) -IT-

 

 

Summary

 

Fiscal Code

:

04845800632

Legal Form

:

Limited liability company

start of Activities

:

09/01/1988

Equity

:

Over 2.582.254 Eur

Turnover Range

:

6.500.000/7.750.000 Eur

Number of Employees

:

from 16 to 25

 

 

Activity

 

Wholesale of clothing and accessories

Retail sale of clothing in specialised stores

 

Legal Data

 

Legal Form : Limited liability company

Fiscal Code : 04845800632

 

Foreign Trade Reg. no. : NA037633 since 14/05/2002

 

Chamber of Commerce no. : 405940 of Napoli since 31/01/1986

 

V.A.T. Code : 04845800632

 

R. E. C. no. : 104885 of Napoli since 09/01/1988

 

Establishment date

: 27/11/1985

Start of Activities

: 09/01/1988

Nominal Capital

: 1.000.000

Eur

Subscribed Capital

: 1.000.000

Eur

Paid up Capital

: 1.000.000

Eur

 

Members

 

 

Saladino

Pietro

 

 

 

Born in Napoli

(NA)

on 03/05/1947

- Fiscal Code : SLDPTR47E03F839A

 

 

 

Residence :

Via

Monte Di Dio

, 25

- 80132

Napoli

(NA)

- IT -

 

Position

Since

Shares Amount

% Ownership

Sole Director

11/09/1992

 

 

 

 

Prejudicial events registered

 

 

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

Saladino Pietro

Napoli - IT -

SLDPTR47E03F839A

150.000 .Eur

15,00

Saladino Francesco

Napoli - IT -

SLDFNC51T23F839M

150.000 .Eur

15,00

Saladino Alberta

 

SLDLRT66P62F839V

200.000 .Eur

20,00

Saladino Laura

 

SLDLRA67R69F839Y

200.000 .Eur

20,00

Apuzzo Daniela

 

PZZDNL58P53F839N

150.000 .Eur

15,00

Saladino Chiara

 

SLDCHR77D54F839D

150.000 .Eur

15,00

 

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

G E G Company Srl

Napoli - IT -

06471230638

3.098 .Eur

20,00

 

 

Active

Createx S.r.l.

 

06159761219

57.600 .Eur

64,00

 

 

Active

Navitex S.r.l.

 

06507371216

46.800 .Eur

52,00

 

 

Active


Firm's location and structure

 

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

 

-

Registered office

 

 

 

 

 

Centro Direzionale Isola G1

, 25

- 80100

- Napoli

(NA)

- IT -

 

 

 

 

PHONE

: 081/5734836

 

-

Operative seat

since 13/07/2000

 

 

 

 

 

Interporto Campano Lotto D

, 423/424

- 80035

- Nola

(NA)

- IT -

 

 

 

 

Employees

: 24

 

 

 

 

Assistants

: 1

 

Fittings and Equipment for a value of 4.000

Eur

 

Stocks for a value of 1.030.000

Eur

 

 

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.

 

Bankers

 

The firm operates with:

 

Bank Name

Agency Name

Address

ZIP Code

City

ABI Code

CAB Code

BANCA POPOLARE DI SONDRIO

 

 

 

 

 

 


Financial and Economical Analysis

 

The company is active since 1988

The analysis is based on the latest 3 balance sheets.

During the last years, it achieved profits (r.o.e. 1,43% on 2010) and during the last financial year an increase in sales volume was registered (+27,06% in 2010).

The operating result was positive in the last financial year (2,23%) falling within the field's average.

The amount of the operating result for the year 2010 is of Eur. 124.885 recording a drop as opposed to the year before (-44,07%).

The gross operating margin of the latest financial year is of Eur. 151.876 , with a -39,92% decrease.

The company has an excellent net worth if compared to its debts, with a low indebtedness (0,1)

The equity capital is equal to Eur. 3.105.849 , stable in comparison with the value of the previous year.

Total indebtedness was equal to Eur. 2.172.495 (Eur. 500.000 was the value of m/l term debts) while during the financial year 2009 the amount was equal to Eur. 1.141.678.

Bank exsposure is limited and the suppliers' credit is modest too, 27,97 gg. is the payment average period which is also lower than the sector average.

The liquidity level is positive (3,18).

Accounts receivable average term is high (115,75 days). and higher than the average of the sector.

2010 financial year closed with a cash flow of Eur. 71.501

Subordinate employment cost is of Eur. 1.078.586, i.e. 14,21% on total production costs. , whereas 14,15% is the incidence on sales revenues.

If compared to the sales volume (-0,36%), the impact of the financial charges is limited.



Financial Data

 

 

 

 

Complete balance-sheet for the year

31/12/2010

(in Eur

x 1 )

 

Item Type

Value

Sales

7.621.453

Profit (Loss) for the period

44.510

 

 

 

Complete balance-sheet for the year

31/12/2009

(in Eur

x 1 )

 

Item Type

Value

Sales

5.998.097

Profit (Loss) for the period

89.862

 

 

 

Complete balance-sheet for the year

31/12/2008

(in Eur

x 1 )

 

Item Type

Value

Sales

6.015.958

Profit (Loss) for the period

56.569

 

 

 

Complete balance-sheet for the year

31/12/2007

(in Eur

x 1 )

 

Item Type

Value

Sales

8.530.142

Profit (Loss) for the period

31.149

 

 

 

Complete balance-sheet for the year

31/12/2006

(in Eur

x 1 )

 

Item Type

Value

Sales

11.363.568

Profit (Loss) for the period

61.012


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

 

750

 

. . Research,develop. and advert.expens.

6.053

12.107

18.160

. . Industrial patent rights

 

 

1.500

. . Concessions,licenses,trademarks,etc.

 

 

 

. . Goodwill

 

 

 

. . Assets in formation and advance paymen.

 

 

 

. . Other intangible fixed assets

3.200

 

 

. Total Intangible Fixed Assets

9.253

12.857

19.660

. TANGIBLE FIXED ASSETS

 

 

 

. . Real estate

 

 

 

. . Plant and machinery

 

2.060

5.057

. . Industrial and commercial equipment

3.509

2.309

2.959

. . Other assets

49.980

57.639

75.541

. . Assets under construction and advances

 

 

 

. Total Tangible fixed assets

53.489

62.008

83.557

. 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

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . . 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

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Other securities

148.100

113.000

54.500

. . Own shares

 

 

 

. . . Total nominal value

 

 

 

. Total financial fixed assets

148.100

113.000

54.500

Total fixed assets

210.842

187.865

157.717

CURRENT ASSETS

 

 

 

. INVENTORIES

 

 

 

. . Raw materials and other consumables

 

 

 

. . Work in progress and semimanufactured

 

 

 

. . Work in progress on order

 

 

 

. . Finished goods

1.031.207

1.031.662

1.030.048

. . Advance payments

 

 

 

. Total Inventories

1.031.207

1.031.662

1.030.048

. CREDITS NOT HELD AS FIXED ASSETS

 

 

 

. . Within 12 months

2.923.806

2.217.271

2.991.688

. . Beyond 12 months

8.552

8.552

1.239

. . Trade receivables

2.450.487

1.740.027

2.464.238

. . . . Within 12 months

2.450.487

1.740.027

2.464.238

. . . . 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

57.608

74.585

119.039

. . . . Within 12 months

50.295

67.272

119.039

. . . . Beyond 12 months

7.313

7.313

 

. . Receivables for anticipated taxes

33.524

38.150

29.028

. . . . Within 12 months

33.524

38.150

29.028

. . . . Beyond 12 months

 

 

 

. . Receivables due from third parties

390.739

373.061

380.622

. . . . Within 12 months

389.500

371.822

379.383

. . . . Beyond 12 months

1.239

1.239

1.239

. Total Credits not held as fixed assets

2.932.358

2.225.823

2.992.927

. 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

1.205.502

631.255

910.564

. . Checks

146.072

395.583

64.112

. . Banknotes and coins

5.169

1.595

1.930

. Total Liquid funds

1.356.743

1.028.433

976.606

Total current assets

5.320.308

4.285.918

4.999.581

ADJUSTMENT ACCOUNTS

 

 

 

. Discount on loans

 

75.245

72.333

. Other adjustment accounts

57.677

 

 

Total adjustments accounts

57.677

75.245

72.333

TOTAL ASSETS

5.588.827

4.549.028

5.229.631

 

 

 

 

LIABILITIES

 

 

 

STOCKHOLDERS' EQUITY

 

 

 

. Capital stock

1.000.000

1.000.000

1.000.000

. Additional paid-in capital

 

 

 

. Revaluation reserves

 

 

 

. Legal reserve

37.927

32.670

29.841

. Reserve for Own shares

 

 

 

. Statute reserves

 

 

 

. Other reserves

1.100.000

1.170.000

1.169.999

. Accumulated Profits (Losses)

923.412

838.807

785.066

. Profit( loss) of the year

44.510

89.862

56.569

. Advances on dividends

 

 

 

. Partial loss of the year Coverage

 

 

 

Total Stockholders'Equity

3.105.849

3.131.339

3.041.475

RESERVES FOR RISKS AND CHARGES

 

 

 

. . Reserve for employee termination indem.

 

17.300

17.300

. . Taxation fund, also differed

 

 

 

. . Other funds

 

 

 

Total Reserves for Risks and Charges

 

17.300

17.300

Employee termination indemnities

310.483

258.711

213.804

ACCOUNTS PAYABLE

 

 

 

. . . . Within 12 months

1.672.495

653.928

1.160.255

. . . . Beyond 12 months

500.000

487.750

796.797

. . 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

1.347.826

487.750

1.062.283

. . . . Within 12 months

847.826

 

265.486

. . . . Beyond 12 months

500.000

487.750

796.797

. . Due to other providers of finance

138.319

109.658

217.336

. . . . Within 12 months

138.319

109.658

217.336

. . . . Beyond 12 months

 

 

 

. . Advances from customers

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Trade payables

502.618

342.942

477.101

. . . . Within 12 months

502.618

342.942

477.101

. . . . Beyond 12 months

 

 

 

. . Securities issued

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Due to subsidiary companies

 

35.100

 

. . . . Within 12 months

 

35.100

 

. . . . 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

88.085

73.934

90.609

. . . . Within 12 months

88.085

73.934

90.609

. . . . Beyond 12 months

 

 

 

. . Due to social security and welfare inst.

42.548

45.426

35.415

. . . . Within 12 months

42.548

45.426

35.415

. . . . Beyond 12 months

 

 

 

. . Other payables

53.099

46.868

74.308

. . . . Within 12 months

53.099

46.868

74.308

. . . . Beyond 12 months

 

 

 

Total accounts payable

2.172.495

1.141.678

1.957.052

ADJUSTMENT ACCOUNTS

 

 

 

. Agio on loans

 

 

 

. Other adjustment accounts

 

 

 

Total adjustment accounts

 

 

 

TOTAL LIABILITIES

5.588.827

4.549.028

5.229.631

 

 

 

 

 

 

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

7.621.453

5.998.097

6.015.954

. Changes in work in progress

 

 

 

. Changes in semi-manufact. products

 

 

 

. Capitalization of internal work

 

 

 

. Other income and revenues

92.002

39.245

199.407

. . Contributions for operating expenses

 

 

 

. . Different income and revenues

92.002

39.245

199.407

Total value of production

7.713.455

6.037.342

6.215.361

PRODUCTION COSTS

 

 

 

. Raw material,other materials and consum.

5.547.439

3.833.765

3.862.618

. Services received

734.698

 

 

. Leases and rentals

186.108

927.356

1.162.612

. Payroll and related costs

1.078.586

973.107

878.745

. . Wages and salaries

767.750

694.359

640.433

. . Social security contributions

237.419

214.182

175.731

. . Employee termination indemnities

57.677

50.419

47.205

. . Pension and similar

 

 

 

. . Other costs

15.740

14.147

15.376

. Amortization and depreciation

26.991

29.503

51.692

. . Amortization of intangible fixed assets

7.603

6.803

6.803

. . Amortization of tangible fixed assets

19.388

22.700

32.889

. . Depreciation of tangible fixed assets

 

 

 

. . Writedown of current receiv.and of liquid

 

 

12.000

. Changes in raw materials

455

-1.614

-4.890

. Provisions to risk reserves

 

 

 

. Other provisions

 

 

 

. Other operating costs

14.293

51.906

96.923

Total production costs

7.588.570

5.814.023

6.047.700

Diff. between value and cost of product.

124.885

223.319

167.661

FINANCIAL INCOME AND EXPENSE

 

 

 

. Income from equity investments

 

 

 

. . In subsidiary companies

 

 

 

. . In associated companies

 

 

 

. . In other companies

 

 

 

. Other financial income

98.436

3.689

9.808

. . Financ.income from receivables

 

 

 

. . . Towards subsidiary companies

 

 

 

. . . Towards associated companies

 

 

 

. . . Towards holding companies

 

 

 

. . . Towards other companies

 

 

 

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

1.250

1.250

1.250

. . Financ.income from secur. cur.assets

 

 

 

. . Financ.income other than the above

 

2.439

8.558

. . . - Subsidiary companies

 

 

 

. . . - Associated companies

 

 

 

. . . - Holding companies

 

 

 

. . . - Other companies

 

2.439

8.558

. Interest and other financial expense

-126.094

-107.365

-90.388

. . Towards subsidiary companies

 

 

 

. . Towards associated companies

 

 

 

. . Towards holding companies

 

 

 

. . Towards other companies

 

107.365

90.388

Total financial income and expense

-27.658

-103.676

-80.580

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

2

7.313

 

. . Gains on disposals

 

 

 

. . Other extraordinary income

2

7.313

 

. Extraordinary expense

-1.708

 

-7.292

. . Losses on disposals

 

 

 

. . Taxes relating to prior years

 

 

-3.718

. . Other extraordinary expense

-1.708

 

-3.574

Total extraordinary income and expense

-1.706

7.313

-7.292

Results before income taxes

95.521

126.956

79.789

. Taxes on current income

51.011

37.094

23.220

. . current taxes

46.385

46.216

52.248

. . differed taxes(anticip.)

4.626

-9.122

-29.028

. Net income for the period

44.510

89.862

56.569

. Adjustments in tax regulations pursuance

 

 

 

. Provisions in tax regulations pursuance

 

 

 

. Profit (loss) of the year

44.510

89.862

56.569

 

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

0,04

0,04

0,03

0,13

Elasticity Ratio

Units

0,95

0,94

0,96

0,85

Availability of stock

Units

0,18

0,23

0,20

0,54

Total Liquidity Ratio

Units

0,77

0,72

0,76

0,22

Quick Ratio

Units

0,24

0,23

0,19

0,04

COMPOSITION ON SOURCE

 

 

 

 

 

Net Short-term indebtedness

Units

0,10

n.c.

0,06

4,36

Self Financing Ratio

Units

0,56

0,69

0,58

0,14

Capital protection Ratio

Units

0,66

0,65

0,65

0,56

Liabilities consolidation quotient

Units

0,48

1,14

0,87

0,15

Financing

Units

0,70

0,36

0,64

5,86

Permanent Indebtedness Ratio

Units

0,70

0,85

0,77

0,31

M/L term Debts Ratio

Units

0,15

0,16

0,19

0,10

Net Financial Indebtedness Ratio

Units

0,04

0,00

0,10

0,98

CORRELATION

 

 

 

 

 

Fixed assets ratio

Units

18,57

20,64

25,69

2,02

Current ratio

Units

3,18

6,55

4,31

1,15

Acid Test Ratio-Liquidity Ratio

Units

2,56

4,98

3,42

0,36

Structure's primary quotient

Units

14,73

16,67

19,28

1,06

Treasury's primary quotient

Units

0,81

1,57

0,84

0,07

Rate of indebtedness ( Leverage )

%

179,95

145,27

171,94

707,22

Current Capital ( net )

Value

3.647.813

3.631.990

3.839.326

61.776

RETURN

 

 

 

 

 

Return on Sales

%

0,94

1,99

1,80

2,62

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

%

1,43

2,87

1,86

6,19

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

%

3,08

4,05

2,62

15,72

Return on Investment ( R.O.I. )

%

2,23

4,91

3,21

3,25

Return/ Sales

%

1,64

3,72

2,79

2,94

Extra Management revenues/charges incid.

%

35,64

40,24

33,74

31,16

Cash Flow

Value

71.501

119.365

108.261

20.178

Operating Profit

Value

124.885

223.319

167.661

23.558

Gross Operating Margin

Value

151.876

252.822

219.353

40.605

MANAGEMENT

 

 

 

 

 

Credits to clients average term

Days

115,75

104,43

147,46

26,46

Debts to suppliers average term

Days

27,97

28,58

34,18

152,76

Average stock waiting period

Days

48,71

61,92

61,64

158,60

Rate of capital employed return ( Turnover )

Units

1,36

1,32

1,15

1,10

Rate of stock return

Units

7,39

5,81

5,84

2,21

Labour cost incidence

%

14,15

16,22

14,61

10,29

Net financial revenues/ charges incidence

%

- 0,36

- 1,73

- 1,34

- 1,31

Labour cost on purchasing expenses

%

14,21

16,74

14,53

10,25

Short-term financing charges

%

5,80

9,40

4,62

2,10

Capital on hand

%

73,33

75,84

86,93

90,76

Sales pro employee

Value

317.560

199.936

222.813

267.102

Labour cost pro employee

Value

44.941

32.436

32.546

30.754

 

 

Market / Territory Data

 

 

Population living in the province

:

3.092.859

Population living in the region

:

5.788.986

Number of families in the region

:

1.966.064

 

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

 

- per food products

:

475

- per non food products

:

1.304

- per energy consume

:

79

 

Sector Data

 

The values are calculated on a base of 2.211 significant companies.

 

The companies cash their credits on an average of 26 dd.

The average duration of suppliers debts is about 152 dd.

The sector's profitability is on an average of 2,62%.

The labour cost affects the turnover in the measure of 10,29%.

Goods are held in stock in a range of 158 dd.

The difference between the sales volume and the resources used to realize it is about 1,10.

The employees costs represent the 10,25% of the production costs.

 

Statistical Detrimental Data

 

The area is statistically considered remarkably risky.

In the region 80.616 protested subjects are found; in the province they count to 41.815.

The insolvency index for the region is 1,40, , while for the province it is 1,36.

Total Bankrupt companies in the province : 18.217.

Total Bankrupt companies in the region : 28.514.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.93

UK Pound

1

Rs.88.15.

Euro

1

Rs.70.88

 

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%)

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.