|
Report Date : |
25.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
RAMCO EUROPE S.R.L. |
|
|
|
|
|
|
Registered Office : |
Via Ugo Vaglia, 11/13 25085- Gavardo
(BS) -IT- |
|
|
|
|
|
|
Country : |
|
|
|
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
|
|
Date of Incorporation : |
06.11.1995 |
|
|
|
|
|
|
Legal Form : |
Limited liability company |
|
|
|
|
|
|
Line of Business : |
Manufacture of nuts and bolts |
|
|
|
|
|
|
No. of Employees : |
from 36 to 50 |
|
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 : |
Good |
|
|
|
|
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 (31.03.2011) |
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
RAMCO EUROPE S.R.L.
Via Ugo Vaglia, 11/13
25085 - Gavardo (BS) -IT-
|
Fiscal Code |
: |
03338200177 |
|
Legal Form |
: |
Limited liability company |
|
start of Activities |
: |
07/02/1996 |
|
Equity |
: |
Over 2.582.254 |
|
Turnover Range |
: |
10.000.000/12.750.000 |
|
Number of Employees |
: |
from 36 to 50 |
Ramco Europe Srl can provide qualified technologically advanced
processing:
in addition to mechanical distortion we are specialist in assembling
Nylon
Ring Locknuts, in assembling of comby nuts, in assembling of nuts and
plates,
in the application of paperboard thread-protecting caps and in
processing
Teflon coatings (Ramcote) on welded parts and on parts to be treated
with
cataphoresis.
Manufacture of nuts and bolts
Manufacture of parts and accessories for motor vehicles
Legal Form : Limited liability company
Fiscal Code : 03338200177
Foreign Trade Reg. no. : BS058716 since 07/03/1996
Chamber of Commerce no. : 361229 of since 15/12/1995
Firms' Register : 57884 of
Firms' Register : BS029-57884 of
V.A.T. Code : 03338200177
|
Establishment date |
: 06/11/1995 |
|
Start of Activities |
: 07/02/1996 |
|
Legal duration |
: 31/12/2030 |
|
Nominal Capital |
: 98.800 |
|
Subscribed Capital |
: 98.800 |
|
Paid up Capital |
: 98.800 |
Orlini Gianfranco
Born in Brescia (BS) on 16/08/1945 -
Fiscal Code : RLNGFR45M16B157Q
Residence: Del
Franzone , 3 - 25100 Brescia (BS) - IT
-
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
06/11/1995 |
|
|
No Protests registered
Frizzi Carlo
Born in Pavia (PV) on 01/09/1953 -
Fiscal Code : FRZCRL53P01G388D
Residence: Catena , 14 -
38066 Riva del Garda (TN) - IT
-
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
06/11/1995 |
|
|
|
Board Chairman |
28/04/2006 |
|
|
No Prejudicial events are reported
No Protests registered
Frizzi Carlo
Born in Pavia (PV) on 01/09/1953 -
Fiscal Code : FRZCRL53P01G388D
Residence: Catena , 14 -
38066 Riva del Garda (TN) - IT
-
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
06/11/1995 |
|
|
|
Board Chairman |
28/04/2006 |
|
|
No Prejudicial events are reported
No Protests registered
Malson Richard
Allen
Born in Stati Uniti America ( ) on
07/01/1940 - Fiscal Code :
MLSRHR40A07Z404G
Residence: P.o.
Box , 530 Ohio-hudson -
IT -
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
06/11/1995 |
|
|
No Protests registered
Malson Richard
Alan
|
Born in Stati Uniti America |
( ) |
on 29/12/1963 |
- Fiscal Code : MLSRHR63T29Z404I |
|
Residence: |
P.o. Box 448-4880 Hawkins Road |
, 448 |
Richfield - Ohio - 44286 |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
06/11/1995 |
|
|
No Protests registered
Malson Susan
Lynn
|
Born in Stati Uniti America |
( ) |
on 15/06/1965 |
- Fiscal Code : MLSSNL65H55Z404G |
|
Residence: |
2940 Hudson Aurora Rd |
Hudson - Ohio 44236 |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
28/04/2006 |
|
|
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 |
|
Orlini Gianfranco |
Brescia - IT - |
RLNGFR45M16B157Q |
19.760 .Eur |
20,00 |
|
Frizzi Carlo |
Riva del Garda - IT - |
FRZCRL53P01G388D |
19.760 .Eur |
20,00 |
|
Ocmar Ltd |
|
98066330170 |
59.280 .Eur |
60,00 |
The Company under review has no participations in other Companies.
In order to carry out its activities the firm uses the following
locations:
- Legal and operative seat
Ugo Vaglia ,
11/13 - 25085 - Gavardo (BS) - IT -
PHONE :
0365331611
FAX :
0365376605
- Branch (Store) since 01/02/2012
Alessandro Anzani , 17-19 - 25018 - Montichiari (BS) - IT -
Employees :
39
Fittings and
Equipment for a value of 890.000 Eur
Stocks for a value
of 4.900.000 Eur
EX-MEMBERS / EX-POSITIONS:
Orlini Gianfranco
Born in Brescia (BS) on
16/08/1945 - Fiscal Code :
RLNGFR45M16B157Q
Residence: Del Franzone ,
3 - 25100 Brescia (BS) - IT
-
|
Ex-Postions |
|
Director |
Orlini Gianfranco
Born in Brescia (BS) on
16/08/1945 - Fiscal Code :
RLNGFR45M16B157Q
Residence: Del Franzone ,
3 - 25100 Brescia (BS) - IT
-
|
Ex-Postions |
|
Director |
|
Director |
0RLINI GIANFRANCO
Born in BRESCIA (BS) on
16/08/1945 - Fiscal Code :
RLNGFR45M16B157Q
Residence: DEL FRANZONE ,
3 - 25100 Brescia (BS) - IT
-
|
Ex-Postions |
|
Director |
|
Director |
Frizzi Carlo
Born in Pavia (PV) on
01/09/1953 - Fiscal Code :
FRZCRL53P01G388D
Residence: Catena ,
14 - 38066 Riva
del Garda (TN) - IT -
|
Ex-Postions |
|
Director |
- Registered office
L. ABBIATI ,
39 - 25100 -
Brescia (BS) - IT –
Protests checking on the subject firm has given a negative result.
Search performed on a National Scale
Prejudicial Events Search Result: NEGATIVE
Search performed on a specialized data base.
None reported, standing to the latest received edition of the Official
Publications.
Company's starting of activities dates back to 1996.
The eonomic-financial analysis is based on the latest 3 b/s.
Under the financial profile unstable results are noted. yet with a
positive result in the 2011 (r.o.e. 3,31%). In the last financial year an
increase in the turnover has been registered (+20,54%).
The operating result in 2011 was positive (3,79%) falling within the
field's average.
The operating result is positive and amounts to Eur. 351.995 showing an
upward trend more then 100% compared to the previous financial year.
During the latest financial year the gross operating margin amounted to
Eur. 589.907 showing an upward trend if compared to 2010.
The company has an excellent net worth if compared to its debts, with a
low indebtedness (0,66) improved in comparison with the year before (0,75.).
Subject can manage an equity capital funds for an amount of Eur.
5.046.412 , unchanged if compared to 2010.
Total debts recorded amounted to Eur. 3.908.141 (Eur. 15.968 of which
were m/l term debts) , with no sensible variation.
The company does not exceed in bank borrowings; the recourse to
suppliers' credit is also limited which is also lower than the sector average.
Payments are supported by good current assets.
Trade credits average terms are 60,77 days. , a better value than the
sector's average.
As far as the cash flow is concerned during the latest financial year it
amounted to Eur. 404.765
During 2011 financial year labour costs amounted to Eur. 1.864.143, with
a 15% incidence on production costs. , with a 15,26% incidence on turnover.
The financial charges do not negatively affect the management, as they
are covered by the incomes.
Complete balance-sheet for the year 31/12/2011 (in
Eur x 1)
|
Item Type |
Value |
|
Sales |
12.219.757 |
|
Profit (Loss) for the period |
166.853 |
Complete
balance-sheet for the year 31/12/2010 (in Eur x
1)
|
Item Type |
Value |
|
Sales |
10.137.354 |
|
Profit (Loss) for the period |
186.111 |
Complete balance-sheet for the year 31/12/2009 (in
Eur x 1)
|
Item Type |
Value |
|
Sales |
5.971.152 |
|
Profit (Loss) for the period |
-112.185 |
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 |
|
Years |
2011 |
2010 |
2009 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
MEMORANDUM ACCOUNTS
PROFIT AND LOSS ACCOUNTS
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
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 |
0,11 |
0,12 |
0,13 |
0,28 |
|
Elasticity Ratio |
Units |
0,89 |
0,88 |
0,87 |
0,69 |
|
Availability of stock |
Units |
0,53 |
0,52 |
0,55 |
0,18 |
|
Total Liquidity Ratio |
Units |
0,36 |
0,35 |
0,31 |
0,47 |
|
Quick Ratio |
Units |
0,06 |
0,03 |
0,01 |
0,02 |
|
COMPOSITION ON SOURCE |
|
|
|
|
|
|
Net Short-term indebtedness |
Units |
0,66 |
0,75 |
0,43 |
2,32 |
|
Self Financing Ratio |
Units |
0,54 |
0,53 |
0,66 |
0,23 |
|
Capital protection Ratio |
Units |
0,95 |
0,94 |
1,00 |
0,74 |
|
Liabilities consolidation quotient |
Units |
0,09 |
0,08 |
0,12 |
0,24 |
|
Financing |
Units |
0,77 |
0,83 |
0,46 |
2,86 |
|
Permanent Indebtedness Ratio |
Units |
0,58 |
0,57 |
0,70 |
0,42 |
|
M/L term Debts Ratio |
Units |
0,04 |
0,04 |
0,04 |
0,13 |
|
Net Financial Indebtedness Ratio |
Units |
0,16 |
0,12 |
0,05 |
0,91 |
|
CORRELATION |
|
|
|
|
|
|
Fixed assets ratio |
Units |
5,33 |
4,61 |
5,41 |
1,37 |
|
Current ratio |
Units |
2,12 |
2,02 |
2,92 |
1,21 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
0,86 |
0,81 |
1,06 |
0,84 |
|
Structure's primary quotient |
Units |
4,99 |
4,31 |
5,14 |
0,86 |
|
Treasury's primary quotient |
Units |
0,14 |
0,07 |
0,05 |
0,04 |
|
Rate of indebtedness ( Leverage ) |
% |
184,05 |
188,31 |
151,06 |
422,49 |
|
Current Capital ( net ) |
Value |
4.345.910 |
4.068.246 |
4.050.750 |
281.462 |
|
RETURN |
|
|
|
|
|
|
Return on Sales |
% |
3,31 |
5,04 |
1,52 |
3,68 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
3,31 |
3,81 |
-2,39 |
3,84 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
7,21 |
2,54 |
-4,51 |
12,87 |
|
Return on Investment ( R.O.I. ) |
% |
3,79 |
-3,57 |
-7,25 |
4,59 |
|
Return/ Sales |
% |
2,88 |
-3,23 |
-8,60 |
4,38 |
|
Extra Management revenues/charges incid. |
% |
47,40 |
n.c. |
n.c. |
22,35 |
|
Cash Flow |
Value |
404.765 |
510.543 |
90.619 |
131.799 |
|
Operating Profit |
Value |
351.995 |
-327.779 |
-513.671 |
134.410 |
|
Gross Operating Margin |
Value |
589.907 |
-3.347 |
-310.867 |
257.621 |
|
MANAGEMENT |
|
|
|
|
|
|
Credits to clients average term |
Days |
60,77 |
72,19 |
90,12 |
106,38 |
|
Debts to suppliers average term |
Days |
74,91 |
103,88 |
102,92 |
123,44 |
|
Average stock waiting period |
Days |
144,50 |
170,75 |
237,11 |
62,20 |
|
Rate of capital employed return ( Turnover ) |
Units |
1,32 |
1,10 |
0,84 |
1,07 |
|
Rate of stock return |
Units |
2,49 |
2,11 |
1,52 |
5,77 |
|
Labour cost incidence |
% |
15,26 |
17,34 |
23,87 |
17,51 |
|
Net financial revenues/ charges incidence |
% |
0,10 |
4,45 |
5,53 |
-1,55 |
|
Labour cost on purchasing expenses |
% |
15,00 |
16,07 |
21,08 |
17,84 |
|
Short-term financing charges |
% |
n.c. |
1,22 |
n.c. |
3,12 |
|
Capital on hand |
% |
76,01 |
90,64 |
118,73 |
93,68 |
|
Sales pro employee |
Value |
321.572 |
281.593 |
199.038 |
193.450 |
|
Labour cost pro employee |
Value |
49.056 |
48.826 |
47.507 |
33.229 |
Our Company collects data from public registers, lists, archives or
contained in Acts and/or documents (held by the National Chamber of Commerce 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).
The present report is supplied for Your exclusive use and is bond to the
general conditions of the contract. Personal Data collection and treatment,
reported, are conform to our company's activities and to Your mandate conferred
to us by Your request, for the purposes in relation to Marketing Management,
Sales and Monetary Administration. It does not contain, nor could contain,
information cancelled by a justified opposition right.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.59 |
|
|
1 |
Rs.85.81 |
|
Euro |
1 |
Rs.69.91 |
INFORMATION DETAILS
|
Report
Prepared by : |
SDA |
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.