|
Report Date : |
01.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
M.C.S. OFFICINA MECCANICA S.P.A. |
|
|
|
|
Registered Office : |
Via Provinciale, 581, 24059 – Urgnano
(BG) |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
01.01.1965 |
|
|
|
|
Com. Reg. No.: |
BG024-13762 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacturer of machinery and equipment |
|
|
|
|
No. of Employees : |
51 to 70 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 : |
Slow |
|
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
|
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
|
Source : CIA |
M.c.s. Officina Meccanica S.p.A.
Via Provinciale, 581
24059 - Urgnano (BG) -IT-
|
Fiscal Code |
: |
00217260165 |
|
Legal Form |
: |
Joint stock company |
|
start of Activities |
: |
01/01/1965 |
|
Equity |
: |
Over 2.582.254 |
|
Turnover Range |
: |
10.000.000/12.750.000 |
|
Number of Employees |
: |
from 51 to 70 |
MANUFACTURE OF MACHINERY AND EQUIPMENT N.E.C.
Manufacture of textile machinery, machinery and systems for auxiliar
y treatment of textiles, sewing and weaving machines (including spar
e parts and accessories)
Legal Form : Joint stock company
|
Fiscal Code : 00217260165 |
|
Foreign Trade Reg. no. : BG005562 since 13/12/1991 |
|
Foreign Trade Reg. no. : 5562 of |
|
Chamber of Commerce no. : 111486 of since 13/07/1967 |
|
Chamber of Commerce no. : 975521 of since 15/12/1977 |
|
Firms' Register : BG024-13762 of |
|
V.A.T. Code : 01496040161 |
|
Tribunal Co. Register : 13762 of |
|
Foundation date |
: 01/01/1965 |
|
|
Establishment date |
: 01/01/1965 |
|
|
Start of Activities |
: 01/01/1965 |
|
|
Legal duration |
: 31/12/2030 |
|
|
Nominal Capital |
: 774.000 |
|
|
Subscribed Capital |
: 774.000 |
|
|
Paid up Capital |
: 774.000 |
|
|
|
Puglioli |
Giovanni |
|
|
|
Born in Padova |
(PD) |
on 20/12/1955 |
- Fiscal Code : PGLGNN55T20G224F |
|
|
|
Residence: |
|
Finale |
, 5 |
- 24020 |
Cerete |
(BG) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Procurator |
01/12/2011 |
|
|
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Chiappini |
Michela |
|
|
|
Born in Bergamo |
(BG) |
on 20/04/1964 |
- Fiscal Code : CHPMHL64D60A794T |
|
|
|
Residence: |
|
Sudorno |
, 14 |
- 24100 |
Bergamo |
(BG) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
28/06/2012 |
|
|
|
Board Chairman |
28/06/2012 |
|
|
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Chiappini |
Giuseppe |
|
|
|
Born in Bergamo |
(BG) |
on 23/09/1968 |
- Fiscal Code : CHPGPP68P23A794F |
|
|
|
Residence: |
|
Albricci |
, 1 |
- 24100 |
Bergamo |
(BG) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
28/06/2012 |
|
|
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Cagnazzo |
Mauro |
|
|
|
Born in Bergamo |
(BG) |
on 21/02/1966 |
- Fiscal Code : CGNMRA66B21A794F |
|
|
|
Residence: |
|
Don Cattaneo |
, 5 |
- 24059 |
Urgnano |
(BG) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
28/06/2012 |
|
|
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Cagnazzo |
Angelo |
|
|
|
Born in Gorzegno |
(CN) |
on 05/10/1939 |
- Fiscal Code : CGNNGL39R05E111I |
|
|
|
Residence: |
|
Alpini |
, 22 |
- 24059 |
Urgnano |
(BG) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Attorney General |
|
|
|
|
Procurator |
|
|
|
|
|
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 |
|
Pilenga Maria Angela |
|
PLNMNG34L48L502J |
15.480 .Eur |
2,00 |
|
Cagnazzo Mauro |
Urgnano - IT - |
CGNMRA66B21A794F |
103.174 .Eur |
13,34 |
|
Gisel S.n.c.di Chiappini Luigi E C. |
Bergamo - IT - |
02143280168 |
448.920 .Eur |
58,00 |
|
Cagnazzo Luca |
|
CGNLCU68A18A794Q |
103.173 .Eur |
13,33 |
|
Cagnazzo Andrea |
|
CGNNDR74D05F205C |
103.173 .Eur |
13,33 |
The Company under review has participations in the following Companies:
|
Firm's Style |
Seat |
Fiscal Code |
Owned Shares
Amount |
% Ownership |
since |
until |
Share Status |
|
Termoelettronica S.p.a. |
Azzano San Paolo - IT - |
00525540167 |
11.250 .Eur |
22,50 |
|
|
Active |
In order to carry out its activities the firm uses the following
locations:
|
- |
Legal and operative seat |
|
since 01/01/1967 |
|
|
|
|
|
|
Provinciale |
, 581 |
- 24059 |
- Urgnano |
(BG) |
- IT - |
|
|
|
|
PHONE |
: 035893089 |
|
|
|
|
PHONE |
: 035891235-893066 |
|
|
|
|
PHONE |
: 0354822811 |
|
|
|
|
FAX |
: 035893066 |
|
|
|
|
Employees |
: 69 |
|
Fittings and Equipment for a value of 220.000 |
Eur |
|
Stocks for a value of 3.680.000 |
Eur |
|
Furniture and fittings for a value of 100.000 |
Eur |
|
Vehicles for a value of 270.000 |
Eur |
Trade organization: direct or by agents.
Sales are on an international scale.
The company 's mainly customers are companies.
|
|
The firm operates abroad as exporter..
Export represents from 20% to 50% of the global turnover.
Products abroad are placed by :
|
- its own sales net-work |
|
- its own agents |
Company uses to accept the following term of sales: 30-60-90 days.
Financial means used for sale: bank transfers and bank orders.
Company's purchase terms are within 90 and 120 days.
Main used payment modalities are by cash orders and bank transfers.
Export is mainly towards:
|
- Italy |
|
- Bulgaria |
|
- Greece |
|
- Somalia |
The subject firm uses the following own selling brands:
|
- MCS |
|
- ABB Spa |
|
- Italvalvole |
EX-MEMBERS / EX-POSITIONS:
|
|
Chiappini Luigi |
|
|
|
|
Born in Urgnano |
(BG) |
on 21/03/1930 |
- Fiscal Code : CHPLGU30C21L502A |
|
Ex-Postions |
|
Sole Director |
|
|
Chiappini |
Mario |
|
|
|
Born in Bergamo |
(BG) |
on 09/10/1959 |
- Fiscal Code : CHPMRA59R09A794R |
|
|
|
Residence: |
|
G. Bruto |
, 41 |
- 25015 |
Desenzano del Garda |
(BS) |
- IT - |
|
Ex-Postions |
|
Director |
|
Board Chairman |
|
|
Forcella |
Gianfranco |
|
|
|
Born in Bergamo |
(BG) |
on 28/02/1942 |
- Fiscal Code : FRCGFR42B28A794I |
|
|
|
Residence: |
|
Zavaritt |
, 33 |
- 24020 |
Gorle |
(BG) |
- IT - |
|
Ex-Postions |
|
Temporary Auditor |
|
|
Santocchi |
Walter |
|
|
|
Born in Viareggio |
(LU) |
on 13/01/1959 |
- Fiscal Code : SNTWTR59A13L833H |
|
|
|
Residence: |
|
Novelli |
, 6 |
- 24100 |
Bergamo |
(BG) |
- IT - |
|
Ex-Postions |
|
Chairman of the Board of Aud. |
|
|
Signorelli |
Gianluigi |
|
|
|
Born in Bergamo |
(BG) |
on 08/08/1958 |
- Fiscal Code : SGNGLG58M08A794R |
|
|
|
Residence: |
|
Don Minzoni |
, 2 |
- 24100 |
Bergamo |
(BG) |
- IT - |
|
Ex-Postions |
|
Chairman of the Board of Aud. |
|
|
Cagnazzo |
Angelo |
|
|
|
Born in Gorzegno |
(CN) |
on 05/10/1939 |
- Fiscal Code : CGNNGL39R05E111I |
|
|
|
Residence: |
|
Alpini |
, 22 |
- 24059 |
Urgnano |
(BG) |
- IT - |
|
Ex-Postions |
|
Director |
Protests checking on the subject firm has given a negative result.
Search performed on a National Scale
|
|
|
Prejudicial Events Search Result: POSITIVE |
|
|
|
Prejudicial Events found with cancellations* |
Search performed on a specialized data base.
*Concerns also partially erased events.
None reported, standing to the latest received edition of the Official
Publications.
The firm operates with:
|
Bank Name |
Agency Name |
Address |
ZIP Code |
City |
ABI Code |
CAB Code |
|
BANCA POPOLARE DI BERGAMO - CREDITO VAR |
AG.URGNANO |
VIA ROCCA, 17 |
24059 |
Urgnano |
5428 |
53660 |
|
CREDITO EMILIANO SPA |
BERGAMO |
VIA G. CAMOZZI ANG. VIA CONTRADA |
24100 |
Bergamo |
3032 |
11100 |
Subject is active since 1965
An eco-fin analysis has been made on the base od the b/s fo the years
2009, 2010 and 2011.
Last two financial years were marked by losses; in 2011 r.o.e. is -2,9%.
During the last financial years the downward trend in the turnover caused the
a.m. losses.
The operating result in 2011 was positive (2,48%) and in line with the
sector's average.
The amount of the operating result for the year 2011 is of Eur. 596.877
with a -24,87% drop.
The economic management produced a gross operating margin of Eur.
859.724 with no sensible increase as against 2010.
The financial status of the company is fairly balanced with an
indebtedness level of 1,59 and decreasing as against 2010.
Subject can manage an equity capital funds for an amount of Eur.
4.716.859 , unchanged as opposed to the preceding year.
During the last financial year debts totalled Eur. 16.865.908 (Eur.
6.184.283 of which were m/l term debts) on the same levels as the year before.
Financial indebtedness is considered fair whereas the recourse to
commercial borrowings is high and higher than sector's average.
Liquidity is however good.
As far as the collection of credit goes, the average is high (227,19
days). and higher than the average of the sector.
During financial year 2011 the cash flow amounted to Eur. 126.003
Labour cost expenses amount to Eur. 3.543.787 , representing 28,21% on
the total of production costs. , whereas 28,45% is the incidence on sales
revenues.
The incidence percentage of financial charges on sales volume is equal
to -3,61%.
Financial Data
|
|
|
Complete balance-sheet for the year |
31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
12.455.186 |
|
Profit (Loss) for the period |
-136.844 |
|
|
|
Complete balance-sheet for the year |
31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
14.767.969 |
|
Profit (Loss) for the period |
-72.621 |
|
|
|
Complete balance-sheet for the year |
31/12/2009 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
15.880.909 |
|
Profit (Loss) for the period |
-543.612 |
|
|
|
Complete balance-sheet for the year |
31/12/2008 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
18.250.460 |
|
Profit (Loss) for the period |
-363.805 |
|
|
|
Complete balance-sheet for the year |
31/12/2007 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
21.361.649 |
|
Profit (Loss) for the period |
71.990 |
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 |
0,35 |
0,35 |
0,31 |
0,18 |
|
Elasticity Ratio |
Units |
0,64 |
0,65 |
0,68 |
0,80 |
|
Availability of stock |
Units |
0,15 |
0,16 |
0,14 |
0,24 |
|
Total Liquidity Ratio |
Units |
0,49 |
0,49 |
0,54 |
0,48 |
|
Quick Ratio |
Units |
0,13 |
0,09 |
0,09 |
0,03 |
|
COMPOSITION ON
SOURCE |
|
|
|
|
|
|
Net Short-term indebtedness |
Units |
1,59 |
1,98 |
1,48 |
3,25 |
|
Self Financing Ratio |
Units |
0,20 |
0,19 |
0,25 |
0,19 |
|
Capital protection Ratio |
Units |
0,86 |
0,86 |
0,97 |
0,63 |
|
Liabilities consolidation quotient |
Units |
0,68 |
0,58 |
0,56 |
0,19 |
|
Financing |
Units |
3,58 |
3,62 |
2,72 |
3,80 |
|
Permanent Indebtedness Ratio |
Units |
0,50 |
0,47 |
0,50 |
0,36 |
|
M/L term Debts Ratio |
Units |
0,30 |
0,27 |
0,26 |
0,11 |
|
Net Financial Indebtedness Ratio |
Units |
1,38 |
1,80 |
1,35 |
0,63 |
|
CORRELATION |
|
|
|
|
|
|
Fixed assets ratio |
Units |
1,43 |
1,35 |
1,62 |
1,75 |
|
Current ratio |
Units |
1,45 |
1,38 |
1,51 |
1,21 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
1,10 |
1,03 |
1,20 |
0,81 |
|
Structure's primary quotient |
Units |
0,56 |
0,56 |
0,79 |
1,03 |
|
Treasury's primary quotient |
Units |
0,30 |
0,19 |
0,20 |
0,06 |
|
Rate of indebtedness ( Leverage ) |
% |
511,02 |
517,10 |
406,67 |
516,42 |
|
Current Capital ( net ) |
Value |
4.799.060 |
4.494.587 |
6.973.604 |
422.465 |
|
RETURN |
|
|
|
|
|
|
Return on Sales |
% |
1,01 |
1,31 |
-1,78 |
3,35 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
-2,90 |
-1,50 |
-7,32 |
5,13 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
-0,30 |
0,95 |
-5,77 |
14,77 |
|
Return on Investment ( R.O.I. ) |
% |
2,48 |
3,17 |
1,44 |
4,16 |
|
Return/ Sales |
% |
4,79 |
5,38 |
2,75 |
4,11 |
|
Extra Management revenues/charges incid. |
% |
-22,93 |
-9,14 |
-124,61 |
28,57 |
|
Cash Flow |
Value |
126.003 |
192.861 |
-282.089 |
122.482 |
|
Operating Profit |
Value |
596.877 |
794.469 |
436.251 |
144.752 |
|
Gross Operating Margin |
Value |
859.724 |
1.059.951 |
697.774 |
241.990 |
|
MANAGEMENT |
|
|
|
|
|
|
Credits to clients average term |
Days |
227,19 |
232,93 |
294,36 |
111,85 |
|
Debts to suppliers average term |
Days |
224,05 |
167,11 |
226,50 |
128,30 |
|
Average stock waiting period |
Days |
106,38 |
99,83 |
96,74 |
80,43 |
|
Rate of capital employed return ( Turnover ) |
Units |
0,52 |
0,59 |
0,53 |
1,08 |
|
Rate of stock return |
Units |
3,38 |
3,61 |
3,72 |
4,45 |
|
Labour cost incidence |
% |
28,45 |
25,42 |
24,43 |
19,12 |
|
Net financial revenues/ charges incidence |
% |
-3,61 |
-2,08 |
-4,55 |
-1,08 |
|
Labour cost on purchasing expenses |
% |
28,21 |
25,32 |
26,23 |
19,02 |
|
Short-term financing charges |
% |
3,16 |
2,47 |
4,82 |
2,68 |
|
Capital on hand |
% |
193,53 |
169,95 |
190,17 |
91,91 |
|
Sales pro employee |
Value |
113.228 |
126.221 |
184.661 |
198.432 |
|
Labour cost pro employee |
Value |
32.216 |
32.081 |
45.119 |
35.779 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.12 |
|
UK Pound |
1 |
Rs.87.08 |
|
Euro |
1 |
Rs.70.15 |
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.