MIRA INFORM REPORT

 

 

Report Date :

01.10.2012

 

IDENTIFICATION DETAILS

 

Name :

MAZZONI LB S.P.A.

 

 

Registered Office :

C orso Sempione, 212 BIS, 21052 - Busto Arsizio (VA) –IT

 

 

Country :

Italy

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

26.09.2001

 

 

Legal Form :

Joint Stock Company

 

 

Line of Business :

Manufacture of machinery and equipment for the chemical,petrochemica

 

 

No. of Employees :

91 to 110

 

 

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

 

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 – June 30th, 2012

 

Country Name

Previous Rating

(31.03.2012)

Current Rating

(30.06.2012)

Italy

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

ITALY - ECONOMIC OVERVIEW

 

Italy has a diversified industrial economy, which is divided into a developed industrial north, dominated by private companies, and a less-developed, welfare-dependent, agricultural south, with high unemployment. The Italian economy is driven in large part by the manufacture of high-quality consumer goods produced by small and medium-sized enterprises, many of them family owned. Italy also has a sizable underground economy, which by some estimates accounts for as much as 17% of GDP. These activities are most common within the agriculture, construction, and service sectors. Italy is the third-largest economy in the euro-zone, but exceptionally high public debt burdens and structural impediments to growth have rendered it vulnerable to scrutiny by financial markets. Public debt has increased steadily since 2007, reaching 120% of GDP in 2011, and borrowing costs on sovereign government debt have risen to record levels. During the second half of 2011 the government passed a series of three austerity packages to balance its budget by 2013 and decrease its public debt burden. These measures included a hike in the value-added tax, pension reforms, and cuts to public administration. The government also faces pressure from investors and European partners to address Italy's long-standing structural impediments to growth, such as an inflexible labor market and widespread tax evasion. The international financial crisis worsened conditions in Italy''s labor market, with unemployment rising from 6.2% in 2007 to 8.4% in 2011, but in the longer-term Italy''s low fertility rate and quota-driven immigration policies will increasingly strain its economy. The euro-zone crisis along with Italian austerity measures have reduced exports and domestic demand, slowing Italy''s recovery. Italy''s GDP is still 5% below its 2007 pre-crisis level

Source : CIA

Company name and address

 

Mazzoni Lb S.p.a.

C orso Sempione, 212 BIS

21052 - Busto Arsizio (VA) –IT

 

 

Summary

 

Fiscal C ode                  : 03271610960

Legal Form                    : Joint stock company

start of Activities            : 26/09/2001

Equity                           : Over 2.582.254

Turnover Range : 35.000.000/50.000.000

Number of Employees    : from 91 to 110

 

 

Highlights

 

Mazzoni LB is the World Leading C ompany in the design and fabrication

of complete plants and machinery for the production of soap and glycerine

with a market share superior to 60%.

A team of 100 specialists is at your disposal to satisfy your demand of

advanced engineering, performing solutions, cost effective technology and

reliable plants.

 

Mazzoni is associated with Desmet Ballestra Group, the world leader on

the design and supply of fat and oil plants, surfactant, detergent and

related chemical plants, oleochemical plants (Fatty Acids eamp; Biofuel); the

recent alliance further strengthens Mazzoni world – wide presence thanks

to a network of 15 regional offices.

 

Background

Founded in 1946 by the Mazzoni family, the task of the company has always

been to introduce innovative process technology based on the latest and

most modern design enabling to produce soap and glycerine in an efficient

and cost effective way.

Among the most important process innovations first introduced by Mazzoni

are the vacuum drying plants for soap chips manufacture, the continuous

neutral fats saponifications and the fully automatic finishing lines for

toilette and laundry soap manufacture.

C ontinuous innovation, heavy investment in Reamp;D and motivated human resources

jointly lead to consolidate the undisputed leadership through the decades.

Over 2500 plants and lines in more than 130 countries have been installed,

making Mazzoni and landmark in the supply of soap technologies and equipment.

The most recent innovation introduced – SSC T+C Integrated C ontinuous Saponifications

and Dryers, NO-SPRAY Vacuum C hamber, Multi-Refining Plodders, Direct Transfer

System Stamper to Packaging– allowed to maintain the leadership position

even in the global and more competitive market of the years 2000.

 

 

Activity

 

Manufacture of machinery and equipment for the chemical,petrochemica

l and petroleum industries (including seperate parts and accessories)

 

 

Legal Data

 

Legal Form :                              Joint stock company

Fiscal C ode :                            03271610960

Foreign Trade Reg. no. :             VA058399 since 01/03/2007

C hamber of C ommerce no. :     1664169 of

C hamber of C ommerce no. :     1900360 of

C hamber of C ommerce no. :     298787 of since 20/06/2005

Firms' Register :                        MI-2001-272428 of

Firms' Register :                        VA-2005-31625 of since 21/06/2005

V.A.T. C ode :                           03271610960

Establishment date :                  26/09/2001

Start of Activities :                      26/09/2001

Legal duration :              31/12/2050

Nominal C apital :                      2.693.000

Subscribed C apital :                  2.693.000

Paid up C apital :                       2.693.000

 

 

Members

 

Tovaglieri Enrico

Born in Busto Arsizio (VA) on 24/08/1954 - Fiscal C ode : TVGNRC 54M24B300Y

Residence: C aprera , 15 - 21052 Busto Arsizio (VA) - IT -

Position Since Shares Amount % Ownership

9/27/12 MC EURONALYSIS Più

file:///C:/Users/w7/AppData/Local/Temp/Rar$EX00.481/20124357054.html 3/14

Procurator 17/01/2006

Director 07/05/2012

No Prejudicial events are reported

No Protests registered

 

Ballestra Gianni

Born in Milano (MI) on 25/10/1956 - Fiscal C ode : BLLGNN56R25F205P

Residence: San Vittore , 45 - 20123 Milano (MI) - IT -

Position Since Shares Amount % Ownership

Director 07/05/2012

 

No Protests registered

Galateri Di Genola Marco

Born in Monasterolo di Savigliano (C N) on 24/02/1944 - Fiscal C ode : GLTMRC 44B24F330Y

Residence: C erva , 22 - 20122 Milano (MI) - IT -

Position Since Shares Amount % Ownership

Board C hairman 07/05/2012

Managing Director 07/05/2012

Director 07/05/2012

No Prejudicial events are reported

No Protests registered

 

Zaroli Alberto

Born in Busto Arsizio (VA) on 27/03/1955 - Fiscal C ode : ZRLLRT55C 27B300D

Residence: Quintino Sella , 122/8 - 21052 Busto Arsizio (VA) - IT -

Position Since Shares Amount % Ownership

Procurator 17/01/2006

No Prejudicial events are reported

No Protests registered

 

Imperiali Emmanuele

Born in Roma (RM) on 19/05/1975 - Fiscal C ode : MPRMNL75E19H501B

Residence: Del Gonfalone , 4 - 20123 Milano (MI) - IT -

Position Since Shares Amount % Ownership

Director 07/05/2012

 

No Protests registered

 

Tovaglieri Paolo

Born in Busto Arsizio (VA) on 15/11/1951 - Fiscal C ode : TVGPLA51S15B300O

Residence: Mario Pagano , 46 - 20145 Milano (MI) - IT -

Position Since Shares Amount % Ownership

Director 07/05/2012

No Protests registered

Di Carpegna Giuseppe

Born in Uccle ( ) on 17/04/1974 - Fiscal C ode : DC RGPP74D17Z103P

Residence: Del C aravaggio , 1 - 20144 Milano (MI) - IT -

Position Since Shares Amount % Ownership

Director 07/05/2012

Managing Director 07/05/2012

No Prejudicial events are reported

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 C ode Owned Shares % Ownership

Tovaglieri Enrico Busto Arsizio - IT - TVGNRC 54M24B300Y 269.300 .Eur 10,00

Timsa Srl Milano - IT - 09684470157 538.600 .Eur 20,00

Sagittario S.p.a. Milano - IT - 05964180961 1.615.800 .Eur 60,00

Tovaglieri Paolo Milano - IT - TVGPLA51S15B300O 269.300 .Eur 10,00

 

 

Direct Participations

 

The C ompany under review has participations in the following C ompanies:

Firm's Style Seat Fiscal C ode Owned Shares

Amount

%

Ownership since until Share

Status

AXOR S.R.L. Finale Emilia -

IT - 02026720363 8.000 .Eur 8,00 Active

Industria E Universita' S.r.l. Varese - IT - 01930490121 5.100 .Eur 0,03 Active

BERTUZZI FOOD PROC ESSING

S.R.L.

BRUGHERIO -

IT - 04898430964 88.000 .Eur 80,00 Active

 

 

Firm's location and structure

 

9/27/12 MC EURONALYSIS Più

- Legal and operative seat

Sempione , 212 BIS - 21052 - Busto Arsizio (VA) - IT -

PHONE : 0331356111

FAX : 0331684511

 

- Branch (office) since 01/04/2009

Di Porta Nuova , 15 - 20100 - Milano (MI) - IT -

 

- Branch (Representative office) since 01/06/2011

Merkez C d. (e.abide-i C d.) , 284 - Istanbul (EE) - TR -

Trading Style: MERKEZI ITALYA MAZZONI LB TUR

PHONE : 0245076374

Employees : 91

Assistants : 2

Fittings and Equipment for a value of 730.000 Eur

Stocks for a value of 24.520.000 Eur

Work in progress for a value of 17.480.000 Eur

 

Historical Information and/or Firm's Status

 

EX-MEMBERS / EX-POSITIONS:

Paleari Pierangelo

Born in Sesto San Giovanni (MI) on 03/05/1941 - Fiscal C ode : PLRPNG41E03I690S

Residence: F.lli Bandiera , 48 - 20099 Sesto San Giovanni (MI) - IT -

Ex-Postions

C hairman of the Board of Aud.

Piantanida Mario

Born in Ponte Nossa (BG) on 27/01/1947 - Fiscal C ode : PNTMRA47A27F941M

Residence: Vercelli , 2 - 20100 Milano (MI) - IT -

Ex-Postions

C hairman of the Board of Aud.

Campo Antico Vincenzo

Born in Genova (GE) on 28/08/1966 - Fiscal C ode : C MPVC N66M28D969O

Residence: Della Vittoria , 8/20 - 16121 Genova (GE) - IT -

Ex-Postions

Temporary Auditor

Marengo Giovanni

Born in Novi Ligure (AL) on 07/07/1945 - Fiscal C ode : MRNGNN45L07F965S

Residence: GUIDO D'AREZZO , 6 - 20100 Milano (MI) - IT -

Ex-Postions

Director

Managing Director

Galateri Di Genola Marco

Born in Monasterolo di Savigliano (C N) on 24/02/1944 - Fiscal C ode : GLTMRC 44B24F330Y

Residence: C erva , 22 - 20122 Milano (MI) - IT -

Ex-Postions

Director

Albonico Claudio

Born in MILANO (MI) on 13/02/1966 - Fiscal C ode : LBNC LD66B13F205I

Residence: DELLA MOSC OVA , 3 - 20100 Milano (MI) - IT -

Ex-Postions

Director

Villa Andrea

Born in Genova (GE) on 03/10/1967 - Fiscal C ode : VLLNDR67R03D969U

Residence: Della Vittoria , 8/20 - 16100 Genova (GE) - IT -

Ex-Postions

Permanent Auditor

Montinaro Antonio

Born in Lecce (LE) on 22/01/1961 - Fiscal C ode : MNTNTN61A22E506L

Residence: Della Moscova , 3 - 20100 Milano (MI) - IT -

Ex-Postions

Director

Bessi Pietro

Born in C remona (C R) on 28/08/1967 - Fiscal C ode : BSSPTR67M28D150Q

Residence: Santa Radegonda , 11 - 20100 Milano (MI) - IT -

Ex-Postions

Permanent Auditor

Fossa Enrico

Born in Gardone Val Trompia (BS) on 06/12/1973 - Fiscal C ode : FSSNRC 73T06D918D

Residence: Magenta , 85 - 20123 Milano (MI) - IT -

Ex-Postions

Temporary Auditor

Farnetti Stefano

Born in Ferrara (FE) on 13/08/1949 - Fiscal C ode : FRNSFN49M13D548V

Residence: Procaccini Giulio C esare , 15 - 20154 Milano (MI) - IT -

Ex-Postions

Director

 

CEASINGS/INCORPORATIONS/MERGES:

The firm absorved

Sopit Srl

Portaluppi Pietro , 17 , 20138 , Milano (MI) - IT -

Fiscal C ode: 12755450157

Date : 13/12/2005

Project of merging by taking over of

Sopit Srl

Portaluppi Pietro , 17 , 20138 , Milano (MI) - IT -

Fiscal C ode: 12755450157

Date Merging/splitting-up project: 22/09/2005

The firm absorbed by merging of

Sopit Srl

Portaluppi Pietro , 17 , 20138 , Milano (MI) - IT -

Fiscal C ode: 12755450157

Date : 13/12/2005

 

 

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 2001

The analysis is based on the latest 3 balance sheets.

During the last years, it achieved profits (r.o.e. 28,65% on 2011) with a good increase in turnover (+76,16% in

2011 compared to 2010 and +43,91% in 2010 compared to 2009).

The operating result in 2011 was positive (6,48%) falling within the field's average.

An operating result of Eur. 3.139.956 has been registered. with a 43,87% growth.

During the latest financial year the gross operating margin amounted to Eur. 3.648.525 showing an upward trend

if compared to 2010.

The analysis shows a fair financial position as the indebtedness volume is acceptable (3,93) and decreasing as

against 2010.

With regard to equity capital, an amount of Eur. 7.146.639 is registered. , rising by 29,96%.

Total indebtedness was equal to Eur. 39.786.215 (Eur. 817.567 was the value of m/l term debts) , with no sensible

variation.

The company does not exceed in bank credits; payments average period is instead slightly high (128,94 gg.)

however still within the sector's average.

Liquidity is good (1,02)

On average trade credits are collected in 39,47 days. , a value lower than the sector's average.

2011 financial year closed with a cash flow of Eur. 2.556.132

During 2011 financial year labour costs amounted to Eur. 5.697.991, with a 20,44% incidence on production costs.

and a 15,55% incidence on sales volumes.

Financial incomes cover financial charges.

 

 

Financial Data

 

C omplete balance-sheet for the year 31/12/2011 (in Eur x 1)

Item Type Value

Sales 36.645.264

Profit (Loss) for the period 2.047.563

 

 

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

Years                                                                                                                                        2011

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                                                                                                            9.568

. . C oncessions,licenses,trademarks,etc.

. . Goodwill                                                                                                                                63.007

. . Assets in formation and advance paymen.

. . Other intangible fixed assets

. Total Intangible Fixed Assets                                                                                                    72.575

. TANGIBLE FIXED ASSETS

. . Real estate                                                                                                                            6.936.607

. . Plant and machinery                                                                                                              720.875

. . Industrial and commercial equipment                                                                                       11.516

. . Other assets                                                                                                                                     125.342

. . Assets under construction and advances

. Total Tangible fixed assets                                                                                                        7.794.340

. FINANCIAL FIXED ASSETS

. . Equity investments                                                                                                                 759.059

. . . Equity invest. in subsidiary companies                                                                                   759.053

. . . Equity invest. in associated companies

. . . Equity invest. in holding companies

. . . Equity invest. in other companies                                                                                          6

. . Financial receivables                                                                                                              1.037

. . . . Within 12 months

. . . . Beyond 12 months                                                                                                             1.037

. . . 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                                                                                         1.037

. . . . Within 12 months

. . . . Beyond 12 months                                                                                                             1.037

. . Other securities

. . Own shares

. . . Total nominal value

. Total financial fixed assets                                                                                                        760.096

Total fixed assets                                                                                                                       8.627.011

CURRENT ASSETS

. INVENTORIES

. . Raw materials and other consumables                                                                                     1.476.103

. . Work in progress and semimanufactured                                                                                  5.479.529

. . Work in progress on order                                                                                                       17.478.938

. . Finished goods

. . Advance payments                                                                                                                 86.462

. Total Inventories                                                                                                                       24.521.032

. CREDITS NOT HELD AS FIXED ASSETS

. . Within 12 months                                                                                                                   3.071.571

. . Beyond 12 months                                                                                                                 1.167.887

. . Trade receivables                                                                                                                   4.017.956

. . . . Within 12 months                                                                                                               2.859.096

. . . . Beyond 12 months                                                                                                             1.158.860

. . Receivables due from subsid. comp.                                                                                        98.568

. . . . Within 12 months                                                                                                               98.568

. . . . 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                                                                                                                 10.146

. . . . Within 12 months                                                                                                               10.146

. . . . Beyond 12 months

. . Receivables for anticipated taxes                                                                                             101.358

. . . . Within 12 months                                                                                                               92.331

. . . . Beyond 12 months                                                                                                             9.027

. . Receivables due from third parties                                                                                           11.430

. . . . Within 12 months                                                                                                               11.430

. . . . Beyond 12 months

. Total Credits not held as fixed assets                                                                                        4.239.458

. 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                                                                                                 10.878.543

. . C hecks

. . Banknotes and coins                                                                                                              8.881

. Total Liquid funds                                                                                                                     10.887.424

Total current assets                                                                                                                   39.647.914

ADJUSTMENT ACCOUNTS

. Discount on loans                                                                                                                    189.757

. Other adjustment accounts

Total adjustments accounts                                                                                                        189.757

TOTAL ASSETS                                                                                                                        48.464.682

LIABILITIES

STOCKHOLDERS' EQUITY

. C apital stock                                                                                                                          2.693.000

. Additional paid-in capital                                                                                                           1.286.500

. Revaluation reserves

. Legal reserve                                                                                                                           96.088

. Reserve for Own shares

. Statute reserves

. Other reserves                                                                                                                         1.023.488

. Accumulated Profits (Losses)

. Profit( loss) of the year                                                                                                             2.047.563

. Advances on dividends

. Partial loss of the year C overage

Total Stockholders'Equity                                                                                                           7.146.639

RESERVES FOR RISKS AND CHARGES

. . Reserve for employee termination indem.

. . Taxation fund, also differed                                                                                                      34.678

. . Other funds

Total Reserves for Risks and Charges                                                                                          34.678

Employee termination indemnities                                                                                               1.226.693

ACCOUNTS PAYABLE

. . . . Within 12 months                                                                                                               38.968.648

. . . . Beyond 12 months                                                                                                             817.567

. . 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                                                                                                                         967.860

. . . . Within 12 months                                                                                                               150.293

. . . . Beyond 12 months                                                                                                             817.567

. . Due to other providers of finance

. . . . Within 12 months

. . . . Beyond 12 months

. . Advances from customers                                                                                                       29.090.682

. . . . Within 12 months                                                                                                               29.090.682

. . . . Beyond 12 months

. . Trade payables                                                                                                                      7.559.572

. . . . Within 12 months                                                                                                               7.559.572

. . . . Beyond 12 months

. . Securities issued

. . . . Within 12 months

. . . . Beyond 12 months

. . Due to subsidiary companies                                                                                                  48.188

. . . . Within 12 months                                                                                                               48.188

. . . . 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                                                                                                        609.482

. . . . Within 12 months                                                                                                               609.482

. . . . Beyond 12 months

. . Due to social security and welfare inst.                                                                                    281.463

. . . . Within 12 months                                                                                                               281.463

. . . . Beyond 12 months

. . Other payables                                                                                                                      1.228.968

. . . . Within 12 months                                                                                                               1.228.968

. . . . Beyond 12 months

Total accounts payable                                                                                                               39.786.215

ADJUSTMENT ACCOUNTS

. Agio on loans

. Other adjustment accounts                                                                                                       270.457

Total adjustment accounts                                                                                                          270.457

TOTAL LIABILITIES                                                                                                                    48.464.682

MEMORANDUM ACCOUNTS

Third party goods

Investment accounts                                                                                                                  1.064.681

Risk accounts                                                                                                                           7.379.500

C ivil and fiscal norms relation

PROFIT AND LOSS ACCOUNTS

VALUE OF PRODUCTION

. Revenues from sales and services                                                                                             36.645.264

. C hanges in work in progress                                                                                                    1.860.804

. C hanges in semi-manufact. products                                                                                        -8.222.520

. C apitalization of internal work

. Other income and revenues                                                                                                       737.362

. . C ontributions for operating expenses

. . Different income and revenues                                                                                                 737.362

Total value of production                                                                                                             31.020.910

PRODUCTION COSTS

. Raw material,other materials and consum.                                                                                 16.817.274

. Services received                                                                                                                     4.372.476

. Leases and rentals                                                                                                                   51.712

. Payroll and related costs                                                                                                          5.697.991

. . Wages and salaries                                                                                                               4.094.305

. . Social security contributions                                                                                                   1.269.086

. . Employee termination indemnities                                                                                           279.705

. . Pension and similar

. . Other costs                                                                                                                           54.895

. Amortization and depreciation                                                                                                   508.569

. . Amortization of intangible fixed assets                                                                                     26.276

. . Amortization of tangible fixed assets                                                                                        461.284

. . Depreciation of tangible fixed assets

. . Writedown of current receiv.and of liquid                                                                                   21.009

. Changes in raw materials                                                                                                          307.046

. Provisions to risk reserves

. Other provisions

. Other operating costs                                                                                                               125.886

Total production costs                                                                                                                27.880.954

Diff. between value and cost of product.                                                                                        3.139.956

FINANCIAL INCOME AND EXPENSE

. Income from equity investments

. . In subsidiary companies

. . In associated companies

. . In other companies

. Other financial income                                                                                                              171.023

. . 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                                                                                         171.023

. . . - Subsidiary companies

. . . - Associated companies

. . . - Holding companies

. . . - Other companies                                                                                                               171.023

. Interest and other financial expense                                                                                           -60.962

. . Towards subsidiary companies

. . Towards associated companies

. . Towards holding companies

. . Towards other companies                                                                                                       60.962

Total financial income and expense                                                                                             110.061

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                                                                                                               159.371

. . Gains on disposals

. . Other extraordinary income                                                                                                     159.371

. Extraordinary expense                                                                                                  -49.445

. . Losses on disposals 

. . Taxes relating to prior years

. . Other extraordinary expense                                                                                                   -49.445

Total extraordinary income and expense                                                                          109.926

Results before income taxes                                                                                                       3.359.943

. Taxes on current income                                                                                                          1.312.380

. . current taxes                                                                                                                                     1.264.129

. . differed taxes(anticip.)                                                                                                            48.251

. Net income for the period                                                                                                          2.047.563

. Adjustments in tax regulations pursuance

. Provisions in tax regulations pursuance

. Profit (loss) of the year                                                                                                             2.047.563

RATIOS Value Type as at 31/12/2011 Sector Average

Ratios

 

COMPOSITION ON INVESTMENT

 

 

 

Rigidity Ratio

Units

0,18

0,18

Elasticity Ratio

Units

0,82

0,79

Availability of stock

Units

0,51

0,21

Total Liquidity Ratio

Units

0,31

0,52

Quick Ratio

Units

0,22

0,03

COMPOSITION ON SOURCE

 

 

 

Net Short-term indebtedness

Units

3,93

3,01

Self Financing Ratio

Units

0,15

0,19

Capital protection Ratio

Units

0,34

0,66

 

Liabilities consolidation quotient

Units

0,05

0,16

Financing

Units

5,57

3,56

Permanent Indebtedness Ratio

Units

0,19

0,34

M/L term Debts Ratio

Units

0,04

0,10

Net Financial Indebtedness Ratio

Units

0,00

0,69

CORRELATION

 

 

 

Fixed assets ratio

Units

1,07

1,65

Current ratio

Units

1,02

1,18

Acid Test Ratio-Liquidity Ratio

Units

0,39

0,86

Structure's primary quotient

Units

0,83

1,02

Treasury's primary quotient

Units

0,28

0,06

Rate of indebtedness ( Leverage )

%

678,15

509,92

Current Capital ( net )

Value

679.266

330.495

RETURN

 

 

 

Return on Sales (R.O.S.)

%

6,98

3,79

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

%

28,65

6,70

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

%

47,01

18,82

Return on Investment ( R.O.I. )

%

6,48

4,89

Return/ Sales

%

8,57

4,78

Extra Management revenues/charges incid.

%

65,21

29,96

Cash Flow

Value

2.556.132

165.166

Operating Profit

Value

3.139.956

225.594

Gross Operating Margin

Value

3.648.525

376.080

MANAGEMENT

 

 

 

Credits to clients average term

Days

39,47

111,07

Debts to suppliers average term

Days

128,94

127,44

Average stock waiting period

Days

240,89

62,88

Rate of capital employed return ( Turnover )

Units

0,76

1,10

Rate of stock return

Units

1,49

5,58

Labour cost incidence

%

15,55

18,94

Net financial revenues/charges incidence

%

0,30

-1,15

Labour cost on purchasing expenses

%

20,44

18,99

Short-term financing charges

%

0,15

2,55

Capital on hand

%

132,25

90,89

Sales pro employee

Value

205.872

199.007

Labour cost pro employee

Value

32.011

34.820

 

 

SOURCES

 

Our C ompany collects data from public registers, lists, archives or contained in Acts and/or documents (held by

the National C hamber of C ommerce or Immovables Territorial Agency), users, reporters or however generally

accessible (for example, from categorical lists, statistical institutes, press reports and from public inspection

internet sites).

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.52.69

UK Pound

1

Rs.85.71

Euro

1

Rs.68.14

 

 

INFORMATION DETAILS

 

Report Prepared by :

PDT

 

 

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.