MIRA INFORM REPORT

 

 

Report Date :

30.10.2012

 

IDENTIFICATION DETAILS

 

Name :

BREVINI POWER TRANSMISSION S.P.A.

 

 

Registered Office :

 

Via U. Degola, 14  

42100 - Reggio Emilia (RE)

 

 

Country :

Italy

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

01.01.1960

 

 

Com. Reg. No.:

RE033-5457 of since 19/02/1996

 

 

Legal Form :

Joint Stock Company With Sole Shareholder

 

 

Line of Business :

Manufacture of Machinery and Equipment

 

 

No. of Employees :

500 to 750

 

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

(31.03.2011)

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

Company name and address

 

Brevini Power Transmission S.p.A.

 

Via U. Degola, 14  

42100 - Reggio Emilia (RE) -IT-

 

 

Summary

 

Fiscal Code

:

00262750359

Legal Form

:

Joint stock company with sole shareholder

start of Activities

:

01/01/1960

Equity

:

Over 2.582.254

Turnover Range

:

over 129.114.224

Number of Employees

:

from 500 to 750

Group

:

Brevini

 

 

Activity

 

MANUFACTURE OF MACHINERY AND EQUIPMENT N.E.C.

Manufacture of internal combustion engines (including seperate parts and accessories and excluding engines destined to road and air tran sport means)

Manufacture of bearings, gears, gearing and driving elements( except hydraulics)

 

Legal Data

 

Legal Form : Joint stock company with sole shareholder

Fiscal Code : 00262750359

 

Foreign Trade Reg. no. : RE000443 since 05/12/1991

 

Foreign Trade Reg. no. : 000443 of since 05/12/1991

 

Chamber of Commerce no. : 402071 of

 

Chamber of Commerce no. : 75379 of since 27/01/1960

 

Chamber of Commerce no. : 154628 of

 

Firms' Register : RE033-5457 of since 19/02/1996

 

V.A.T. Code : 00262750359

 

Foundation date

: 01/01/1960

Establishment date

: 01/01/1960

Start of Activities

: 01/01/1960

Legal duration

: 31/12/2050

Nominal Capital

: 5.000.000

 

Subscribed Capital

: 5.000.000

 

Paid up Capital

: 5.000.000

 

 

Members

 

 

Brevini

Renato

 

 

 

Born in Reggio Emilia

(RE)

on 03/01/1943

- Fiscal Code : BRVRNT43A03H223U

 

 

 

Residence:

 

Vitali

, 7

- 42100

Reggio Emilia

(RE)

- IT -

 

Position

Since

Shares Amount

% Ownership

Director

20/07/2011

 

 

Board Chairman

20/07/2011

 

 

 

 

No Prejudicial events are reported

 

 

No Protests registered

 

 

Brevini

Corrado

 

 

 

Born in Cadelbosco di Sopra

(RE)

on 14/12/1932

- Fiscal Code : BRVCRD32T14B328Y

 

 

 

Residence:

 

Labellarte

, 4

- 42100

Reggio Emilia

(RE)

- IT -

 

Position

Since

Shares Amount

% Ownership

Director

20/07/2011

 

 

Assistant board Chairman

20/07/2011

 

 

 

 

No Prejudicial events are reported

 

 

No Protests registered

 

 

Brevini

Paolo

 

 

 

Born in Reggio Emilia

(RE)

on 06/04/1959

- Fiscal Code : BRVPLA59D06H223H

 

 

 

Residence:

 

Caprera

, 4

- 42123

Reggio Emilia

(RE)

- IT -

 

Position

Since

Shares Amount

% Ownership

Director

20/07/2011

 

 

 

 

No Protests registered

 

 

Brevini Group S.p.a.

 

 

 

 

 

 

Residence:

 

Degola

, 19

- 42124

Reggio Emilia

(RE)

- IT -

 

Position

Since

Shares Amount

% Ownership

Sole partner

 

 

 

 

 

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 Code

Owned Shares

% Ownership

Brevini Group S.p.a.

Reggio Emilia - IT -

01297280354

 

100,00

 

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

Matilde Di Canossa Golf - S.p.a.

Reggio Emilia - IT -

01278170350

6.200 .Eur

0,19

 

 

Active

Edifici Industriali Bbs - S.r.l.

Reggio Emilia - IT -

00126190354

100 .Eur

0,45

 

 

Active

O.m.c.s. S.r.l.

Reggio Emilia - IT -

01049620352

26.000 .Eur

100,00

 

 

Active

Quadrifoglio - S.r.l.

Reggio Emilia - IT -

00695420356

22.947 .Eur

2,90

 

 

Active

Brevini Centrosud S.r.l.

Guidonia Montecelio - IT -

06085960588

23.750 .Eur

95,00

 

 

Active

TRATEX GROUP TRANSATLANTIC TECHNOLOGY EX CHANGE - SOCIETA CONSORTILE A RESPONSABI

Roma - IT -

03849531003

1 .Eur

 

 

 

Active

Brevini Veneta S.r.l.

Badia Polesine - IT -

00218950293

41.600 .Eur

100,00

 

 

Active

Brevini Lombarda S.p.a.

Lurano - IT -

01585690355

200.000 .Eur

100,00

 

 

Active

Brevini Toscana S.R.L.

Arezzo - IT -

01471270510

40.800 .Eur

100,00

 

 

Active

Brevini Winches Spa

Reggio Emilia - IT -

00720830355

103.200 .Eur

100,00

 

 

Active

Piv Posiplan S.r.l.

Castelguglielmo - IT -

01167530292

100.000 .Eur

100,00

 

 

Active

CONSORZIO REGGIO RICERCHE S.R.L. ABBREVI ATO IN "CRR S.R.L."

 

01938530357

10.000 .Eur

6,71

 

 

Active

 

Firm's location and structure

 

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

 

-

Legal and operative seat

 

since 01/01/1960

 

 

 

 

 

 

U.degola

, 14

- 42100

- Reggio Emilia

(RE)

- IT -

 

 

 

 

PHONE

: 05229281

 

-

Branch

(Store)

since 20/10/2003

 

 

 

 

 

 

Masaccio

, 3

- 42100

- Reggio Emilia

(RE)

- IT -

 

-

Branch

(office)

since 20/09/1991

 

 

 

 

 

 

Pietro Colletta

, 19-21

- 42100

- Reggio Emilia

(RE)

- IT -

 

-

Branch

(Store)

since 20/12/1996

 

 

 

 

 

 

Pietro Colletta

, 20

- 42100

- Reggio Emilia

(RE)

- IT -

 

-

Branch

(Factory)

since 01/12/1999

 

 

 

 

 

 

Umberto Degola

, 19-19/A

- 42100

- Reggio Emilia

(RE)

- IT -

 

-

Branch

(Operating branch)

since 10/10/2003

 

 

 

 

 

 

Pietro Colletta

, 2

- 42100

- Reggio Emilia

(RE)

- IT -

 

-

Branch

(Store)

since 01/09/2006

 

 

 

 

 

 

Pietro Colletta

, 10

- 42100

- Reggio Emilia

(RE)

- IT -

 

-

Branch

(Store)

since 01/09/2006

 

 

 

 

 

 

Umberto Degola

, 9

- 42100

- Reggio Emilia

(RE)

- IT -

 

-

Branch

(Store)

since 01/07/2009

 

 

 

 

 

 

Carlo Cafiero

, 20/A

- 42100

- Reggio Emilia

(RE)

- IT -

 

-

Branch

(Store)

since 01/06/2010

 

 

 

 

 

 

Umberto Degola

, 17- 17/A

- 42100

- Reggio Emilia

(RE)

- IT -

 

-

Branch

(office)

since 01/06/2010

 

 

 

 

 

 

Umberto Degola

, 1

- 42100

- Reggio Emilia

(RE)

- IT -

 

-

Branch

(office)

since 01/01/2011

 

 

 

 

 

 

Dei Gonzaga

, 71

- 42100

- Reggio Emilia

(RE)

- IT -

 

-

Branch

(office)

since 01/01/2011

 

 

 

 

 

 

Primo Maggio

, 5

- 24050

- Lurano

(BG)

- IT -

 

-

Branch

(Store)

since 01/01/2011

 

 

 

 

 

 

Del Laghetto

, 431/A

- 45021

- Badia Polesine

(RO)

- IT -

 

 

 

 

Employees

: 593

 

Fittings and Equipment for a value of 11.270.000

Eur

 

Stocks for a value of 39.280.000

Eur

 

Furniture and fittings for a value of 310.000

Eur

 

Vehicles for a value of 350.000

Eur

 

 

Historical Information and/or Firm's Status

 

CHANGES TO THE LEGAL FORM:

 

Former legal form

New legal form

Changement Date

De facto company

General partnership

06/05/1971

General partnership

Joint stock company

29/12/1973

 

COMPANY STYLE MODIFICATIONS:

 

Former Style

New Style

Changement Date

BREVINI RIDUTTORI SPA

BREVINI POWER TRASMISSION SPA

29/01/2007

 

EX-MEMBERS / EX-POSITIONS:

 

 

Brevini

Renato

 

 

 

Born in Reggio Emilia

(RE)

on 03/01/1943

- Fiscal Code : BRVRNT43A03H223U

 

 

 

Residence:

 

Vitali

, 7

- 42100

Reggio Emilia

(RE)

- IT -

 

Ex-Postions

Vice-Chairman

 

 

Giovannini

Sergio

 

 

 

Born in Reggio Emilia

(RE)

on 03/09/1926

- Fiscal Code : GVNSRG26P03H223A

 

 

 

Residence:

 

F. Filzi

, 17

- 42100

Reggio Emilia

(RE)

- IT -

 

Ex-Postions

Permanent Auditor

Chairman of the Board of Aud.

 

 

Saccani

Deanna

 

 

 

Born in Sant'Ilario d'Enza

(RE)

on 20/03/1962

- Fiscal Code : SCCDNN62C60I342E

 

 

 

Residence:

 

B. Gigli

, 1/1

- 42100

Reggio Emilia

(RE)

- IT -

 

Ex-Postions

Temporary Auditor

 

 

Di Lorenzo

Salvatore

 

 

 

Born in Reggio Emilia

(RE)

on 24/02/1936

- Fiscal Code : DLRSVT36B24H223O

 

 

 

Residence:

 

Emilia S. Stefano

, 31

- 42100

Reggio Emilia

(RE)

- IT -

 

Ex-Postions

Temporary Auditor

 

 

Saccani

Deanna

 

 

 

Born in Sant'Ilario d'Enza

(RE)

on 20/03/1962

- Fiscal Code : SCCDNN62C60I342E

 

 

 

Residence:

 

B. Gigli

, 1/1

- 42100

Reggio Emilia

(RE)

- IT -

 

Ex-Postions

Temporary Auditor

 

CEASINGS/INCORPORATIONS/MERGES:

 

 

Project of splitting-up and tranfer into

 

 

 

Edifici Industriali Bbs - S.r.l.

 

 

 

 

Degola

, 19

, 42124

, Reggio Emilia

(RE)

- IT -

 

 

 

Fiscal Code: 00126190354

 

 

 

Date

Merging/splitting-up project:

19/10/2006

 

 

Splitting-up and transfer of assets to

 

 

 

Edifici Industriali Bbs - S.r.l.

 

 

 

 

Degola

, 19

, 42124

, Reggio Emilia

(RE)

- IT -

 

 

 

Fiscal Code: 00126190354

 

 

 

Date

Splitting-up:

28/12/2006

 

 

Project of merging by taking over of

 

 

 

Brevini Winches Spa

 

 

 

 

Degola

, 1

, 42100

, Reggio Emilia

(RE)

- IT -

 

 

 

Fiscal Code: 00720830355

 

 

 

Date

Merging/splitting-up project:

23/06/2008

 

 

The firm absorbed by merging of

 

 

 

Brevini Winches Spa

 

 

 

 

Degola

, 1

, 42100

, Reggio Emilia

(RE)

- IT -

 

 

 

Fiscal Code: 00720830355

 

 

 

Date

:

31/10/2008

 

 

Project of merging by taking over of

 

 

 

O.m.c.s. S.r.l.

 

 

 

 

Degola

, 1

, 42100

, Reggio Emilia

(RE)

- IT -

 

 

 

Fiscal Code: 01049620352

 

 

 

Date

Merging/splitting-up project:

23/06/2010

 

 

The firm absorbed by merging of

 

 

 

O.m.c.s. S.r.l.

 

 

 

 

Degola

, 1

, 42100

, Reggio Emilia

(RE)

- IT -

 

 

 

Fiscal Code: 01049620352

 

 

 

Date

:

02/12/2010

 


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 NAZIONALE DEL LAVORO SPA

 

 

 

 

1005

0



Financial and Economical Analysis

 

Subject is active since 1960

The economic-financial analysis has been made on the base of the b/s of the latests three years.

Under an economic point of view, profits were registered during the last years with a r.o.e. of 3,12% in 2011 with a good increase in turnover (+35,53% in 2011 compared to 2010 and +4,51% in 2010 compared to 2009).

The operating result in 2011 was positive (1,05%) falling within the field's average.

The amount of the operating result is equal to Eur. 2.085.297 increasing if compared to the yeart 2010.

The gross operating margin of the latest financial year is of Eur. 5.832.334 with a 22,05% increase as opposed to the preceding year.

The analysis shows a fair financial position as the indebtedness volume is acceptable (3,1) yet on the increase as against the previous accounting period.

The management generated equity capital for an amount of Eur. 41.374.804 on stable levels.

In the year 2011 total debts amounted to Eur. 150.112.151 , showing an upward trend if compared to 2010.

Companys' indebtedness is fairly high in relation to its net worth; payments average period is slow even in comparison with the sector's.

Liquid assets are good.

Trade credits average terms are 58,56 days. , lower than the sector's average.

As far as the cash flow is concerned during the latest financial year it amounted to Eur. 4.981.884

Labour cost expenses amount to Eur. 37.185.332 , representing 21,86% on the total of production costs. , with a 23,14% incidence on turnover.

Financial incomes cover financial charges.


Financial Data

 

 

 

Complete balance-sheet for the year

31/12/2011

(in Eur

x 1)

 

Item Type

Value

Sales

160.694.596

Profit (Loss) for the period

1.291.045

 

 

 

Complete balance-sheet for the year

31/12/2010

(in Eur

x 1)

 

Item Type

Value

Sales

118.560.846

Profit (Loss) for the period

3.173.548

 

 

 

Complete balance-sheet for the year

31/12/2009

(in Eur

x 1)

 

Item Type

Value

Sales

113.437.355

Profit (Loss) for the period

207.470

 

 

 

Complete balance-sheet for the year

31/12/2008

(in Eur

x 1)

 

Item Type

Value

Sales

167.207.198

Profit (Loss) for the period

6.077.400

 

 

 

Complete balance-sheet for the year

31/12/2007

(in Eur

x 1)

 

Item Type

Value

Sales

154.518.556

Profit (Loss) for the period

12.072.088

 

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

 

Years

2011

2010

2009

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

653.273

 

 

. . Research,develop. and advert.expens.

12.397

20.469

39.103

. . Industrial patent rights

194.923

28.327

263.157

. . Concessions,licenses,trademarks,etc.

652.417

699.066

745.715

. . Goodwill

2.249.608

2.431.805

2.614.002

. . Assets in formation and advance paymen.

3.108.142

1.557.822

575.476

. . Other intangible fixed assets

84.677

65.871

70.682

. Total Intangible Fixed Assets

6.955.437

4.803.360

4.308.135

. TANGIBLE FIXED ASSETS

 

 

 

. . Real estate

731.538

52.872

74.525

. . Plant and machinery

8.543.666

4.852.630

5.302.546

. . Industrial and commercial equipment

2.725.966

2.745.037

3.079.165

. . Other assets

743.619

614.095

675.041

. . Assets under construction and advances

616.624

1.257.388

186.003

. Total Tangible fixed assets

13.361.413

9.522.022

9.317.280

. FINANCIAL FIXED ASSETS

 

 

 

. . Equity investments

20.079.255

21.132.031

17.927.448

. . . Equity invest. in subsidiary companies

17.953.165

21.021.964

17.493.307

. . . Equity invest. in associated companies

2.016.000

 

324.074

. . . Equity invest. in holding companies

 

 

 

. . . Equity invest. in other companies

110.090

110.067

110.067

. . Financial receivables

15.075.409

12.013.849

12.447.316

. . . . Within 12 months

 

 

264.138

. . . . Beyond 12 months

15.075.409

12.013.849

12.183.178

. . . Receivab due from subsidiaries

14.205.002

11.205.000

12.031.074

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

14.205.002

11.205.000

12.031.074

. . . Receivables due from assoc.comp.

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . . Receivables due from holding comp.

694.590

663.188

264.138

. . . . Within 12 months

 

 

264.138

. . . . Beyond 12 months

694.590

663.188

 

. . . Receivables due from third parties

175.817

145.661

152.104

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

175.817

145.661

152.104

. . Other securities

 

 

 

. . Own shares

 

 

 

. . . Total nominal value

 

 

 

. Total financial fixed assets

35.154.664

33.145.880

30.374.764

Total fixed assets

55.471.514

47.471.262

44.000.179

CURRENT ASSETS

 

 

 

. INVENTORIES

 

 

 

. . Raw materials and other consumables

3.492.371

2.752.189

3.032.208

. . Work in progress and semimanufactured

23.480.445

18.601.659

18.610.240

. . Work in progress on order

 

 

 

. . Finished goods

9.093.613

5.763.391

6.745.077

. . Advance payments

3.217.191

 

 

. Total Inventories

39.283.620

27.117.239

28.387.525

. CREDITS NOT HELD AS FIXED ASSETS

 

 

 

. . Within 12 months

102.421.761

78.575.715

75.755.305

. . Beyond 12 months

386.429

 

 

. . Trade receivables

26.137.932

16.082.662

9.109.035

. . . . Within 12 months

26.137.932

16.082.662

9.109.035

. . . . Beyond 12 months

 

 

 

. . Receivables due from subsid. comp.

47.721.568

47.425.882

52.289.147

. . . . Within 12 months

47.335.139

47.425.882

52.289.147

. . . . Beyond 12 months

386.429

 

 

. . Receivables due from assoc. comp.

 

 

522

. . . . Within 12 months

 

 

522

. . . . Beyond 12 months

 

 

 

. . Receivables due from holding comp.

21.646.799

10.847.799

11.088.466

. . . . Within 12 months

21.646.799

10.847.799

11.088.466

. . . . Beyond 12 months

 

 

 

. . Fiscal Receivables

3.397.906

1.640.756

2.223.796

. . . . Within 12 months

3.397.906

1.640.756

2.223.796

. . . . Beyond 12 months

 

 

 

. . Receivables for anticipated taxes

750.380

499.801

 

. . . . Within 12 months

750.380

499.801

 

. . . . Beyond 12 months

 

 

 

. . Receivables due from third parties

3.153.605

2.078.815

1.044.339

. . . . Within 12 months

3.153.605

2.078.815

1.044.339

. . . . Beyond 12 months

 

 

 

. Total Credits not held as fixed assets

102.808.190

78.575.715

75.755.305

. 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

1.431.616

2.495.450

6.567.882

. . Checks

 

1.760

 

. . Banknotes and coins

4.154

2.626

3.081

. Total Liquid funds

1.435.770

2.499.836

6.570.963

Total current assets

143.527.580

108.192.790

110.713.793

ADJUSTMENT ACCOUNTS

 

 

 

. Discount on loans

 

 

 

. Other adjustment accounts

379.068

441.616

426.883

Total adjustments accounts

379.068

441.616

426.883

TOTAL ASSETS

199.378.162

156.105.668

155.140.855

 

 

 

 

LIABILITIES

 

 

 

STOCKHOLDERS' EQUITY

 

 

 

. Capital stock

5.000.000

5.000.000

5.000.000

. Additional paid-in capital

 

 

 

. Revaluation reserves

4.983.513

4.983.513

4.983.513

. Legal reserve

1.000.000

1.000.000

1.000.000

. Reserve for Own shares

 

 

 

. Statute reserves

 

 

 

. Other reserves

29.100.246

25.728.752

27.521.281

. Accumulated Profits (Losses)

 

 

 

. Profit( loss) of the year

1.291.045

3.173.548

207.470

. Advances on dividends

 

 

 

. Partial loss of the year Coverage

 

 

 

Total Stockholders'Equity

41.374.804

39.885.813

38.712.264

RESERVES FOR RISKS AND CHARGES

 

 

 

. . Reserve for employee termination indem.

110.481

122.118

 

. . Taxation fund, also differed

308.240

352.338

90.427

. . Other funds

1.147.507

395.467

 

Total Reserves for Risks and Charges

1.566.228

869.923

90.427

Employee termination indemnities

6.190.025

4.724.090

4.982.469

ACCOUNTS PAYABLE

 

 

 

. . . . Within 12 months

129.497.840

87.117.558

77.118.527

. . . . Beyond 12 months

20.614.311

23.388.191

34.083.297

. . Bonds

 

2.065.828

2.065.828

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

2.065.828

2.065.828

. . Convertible bonds repayable

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Due to shareholders for financing

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Due to banks

71.444.798

47.911.637

63.637.796

. . . . Within 12 months

52.803.027

29.230.216

36.195.998

. . . . Beyond 12 months

18.641.771

18.681.421

27.441.798

. . Due to other providers of finance

2.034.812

2.090.543

1.425.684

. . . . Within 12 months

62.272

699.601

600.013

. . . . Beyond 12 months

1.972.540

1.390.942

825.671

. . Advances from customers

3.535.513

3.750.714

1.008.406

. . . . Within 12 months

3.535.513

3.750.714

1.008.406

. . . . Beyond 12 months

 

 

 

. . Trade payables

35.477.431

26.466.874

13.753.591

. . . . Within 12 months

35.477.431

26.466.874

13.753.591

. . . . Beyond 12 months

 

 

 

. . Securities issued

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Due to subsidiary companies

28.354.293

19.582.737

18.562.413

. . . . Within 12 months

28.354.293

19.582.737

18.562.413

. . . . Beyond 12 months

 

 

 

. . Due to associated companies

331.227

 

138.889

. . . . Within 12 months

331.227

 

138.889

. . . . Beyond 12 months

 

 

 

. . Due to holding companies

1.749.541

3.858.329

6.372.715

. . . . Within 12 months

1.749.541

2.608.329

2.622.715

. . . . Beyond 12 months

 

1.250.000

3.750.000

. . Due to the tax authorities

1.014.099

967.613

766.391

. . . . Within 12 months

1.014.099

967.613

766.391

. . . . Beyond 12 months

 

 

 

. . Due to social security and welfare inst.

2.330.976

1.601.292

1.435.059

. . . . Within 12 months

2.330.976

1.601.292

1.435.059

. . . . Beyond 12 months

 

 

 

. . Other payables

3.839.461

2.210.182

2.035.052

. . . . Within 12 months

3.839.461

2.210.182

2.035.052

. . . . Beyond 12 months

 

 

 

Total accounts payable

150.112.151

110.505.749

111.201.824

ADJUSTMENT ACCOUNTS

 

 

 

. Agio on loans

 

 

 

. Other adjustment accounts

134.954

120.093

153.871

Total adjustment accounts

134.954

120.093

153.871

TOTAL LIABILITIES

199.378.162

156.105.668

155.140.855

 

 

 

 

 

 

MEMORANDUM ACCOUNTS

 

Third party goods

 

 

 

Investment accounts

30.659.029

 

 

Risk accounts

6.819.090

 

 

Civil and fiscal norms relation

 

 

 

 

 

 

 

 

 

PROFIT AND LOSS ACCOUNTS

 

VALUE OF PRODUCTION

 

 

 

. Revenues from sales and services

160.694.597

118.560.846

113.437.355

. Changes in work in progress

5.837.319

-990.267

-15.636.907

. Changes in semi-manufact. products

 

 

 

. Capitalization of internal work

409.048

151.351

 

. Other income and revenues

5.248.912

4.156.635

3.629.667

. . Contributions for operating expenses

7.399

 

 

. . Different income and revenues

5.241.513

4.156.635

3.629.667

Total value of production

172.189.876

121.878.565

101.430.115

PRODUCTION COSTS

 

 

 

. Raw material,other materials and consum.

88.591.302

55.090.184

40.573.942

. Services received

32.370.199

28.135.969

26.274.726

. Leases and rentals

7.540.898

5.186.325

4.622.767

. Payroll and related costs

37.185.332

26.798.186

23.587.911

. . Wages and salaries

25.093.905

19.280.702

16.586.172

. . Social security contributions

7.968.037

5.734.830

5.191.092

. . Employee termination indemnities

1.854.316

1.361.421

1.469.172

. . Pension and similar

 

 

 

. . Other costs

2.269.074

421.233

341.475

. Amortization and depreciation

3.690.839

3.144.488

3.889.777

. . Amortization of intangible fixed assets

629.256

568.648

694.501

. . Amortization of tangible fixed assets

2.951.583

2.513.840

3.153.276

. . Depreciation of tangible fixed assets

 

 

 

. . Writedown of current receiv.and of liquid

110.000

62.000

42.000

. Changes in raw materials

-678.731

280.018

983.565

. Provisions to risk reserves

56.198

395.467

 

. Other provisions

 

 

 

. Other operating costs

1.348.542

1.609.418

984.599

Total production costs

170.104.579

120.640.055

100.917.287

Diff. between value and cost of product.

2.085.297

1.238.510

512.828

FINANCIAL INCOME AND EXPENSE

 

 

 

. Income from equity investments

2.500.155

3.500.155

300.206

. . In subsidiary companies

2.500.000

 

 

. . In associated companies

 

 

 

. . In other companies

155

 

 

. Other financial income

967.775

792.809

1.125.942

. . Financ.income from receivables

967.775

 

541.284

. . . Towards subsidiary companies

298.284

 

 

. . . Towards associated companies

180.433

 

 

. . . Towards holding companies

477.496

 

 

. . . Towards other companies

11.562

 

 

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

 

 

 

. . Financ.income from secur. cur.assets

 

 

 

. . Financ.income other than the above

 

 

584.658

. . . - Subsidiary companies

 

 

 

. . . - Associated companies

 

 

 

. . . - Holding companies

 

 

 

. . . - Other companies

 

 

 

. Interest and other financial expense

-3.116.207

-1.245.277

-1.597.296

. . Towards subsidiary companies

-437.377

 

 

. . Towards associated companies

 

 

 

. . Towards holding companies

-77.972

 

 

. . Towards other companies

3.116.207

 

 

Total financial income and expense

351.723

3.047.687

-171.148

ADJUSTMENTS TO FINANCIAL ASSETS

 

 

 

. Revaluations

 

 

 

. . Of equity investments

 

 

 

. . Of financ.fixed assets not repres.E.I.

 

 

 

. . Of securities incl.among current assets

 

 

 

. Devaluation

 

-324.074

 

. . Of equity investments

 

-324.074

 

. . Of financial fixed assets (no equity inv)

 

 

 

. . Of securities included among current ass

 

 

 

Total adjustments to financial assets

 

-324.074

 

EXTRAORDINARY INCOME AND EXPENSE

 

 

 

. Extraordinary income

452.975

357.172

881.340

. . Gains on disposals

 

82.041

 

. . Other extraordinary income

452.975

275.131

881.340

. Extraordinary expense

-283.698

-275.354

-412.776

. . Losses on disposals

 

-24.690

 

. . Taxes relating to prior years

 

 

 

. . Other extraordinary expense

-283.698

-250.664

-412.776

Total extraordinary income and expense

169.277

81.818

468.564

Results before income taxes

2.606.297

4.043.941

810.244

. Taxes on current income

1.315.252

870.393

602.774

. . current taxes

1.570.240

1.031.658

710.437

. . differed taxes(anticip.)

-254.988

-161.265

-107.663

. Net income for the period

1.291.045

3.173.548

207.470

. Adjustments in tax regulations pursuance

 

 

 

. Provisions in tax regulations pursuance

 

 

 

. Profit (loss) of the year

1.291.045

3.173.548

207.470

 

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

0,28

0,30

0,28

0,26

Elasticity Ratio

Units

0,72

0,69

0,71

0,73

Availability of stock

Units

0,20

0,17

0,18

0,23

Total Liquidity Ratio

Units

0,52

0,52

0,53

0,44

Quick Ratio

Units

0,01

0,02

0,04

0,02

COMPOSITION ON SOURCE

 

 

 

 

 

Net Short-term indebtedness

Units

3,10

2,12

1,82

1,74

Self Financing Ratio

Units

0,21

0,26

0,25

0,29

Capital protection Ratio

Units

0,85

0,80

0,87

0,64

Liabilities consolidation quotient

Units

0,21

0,32

0,51

0,22

Financing

Units

3,63

2,77

2,87

2,30

Permanent Indebtedness Ratio

Units

0,34

0,44

0,50

0,46

M/L term Debts Ratio

Units

0,13

0,18

0,25

0,11

Net Financial Indebtedness Ratio

Units

1,74

1,24

1,56

0,49

CORRELATION

 

 

 

 

 

Fixed assets ratio

Units

1,23

1,43

1,77

1,63

Current ratio

Units

1,11

1,24

1,44

1,32

Acid Test Ratio-Liquidity Ratio

Units

0,80

0,93

1,07

0,86

Structure's primary quotient

Units

0,75

0,84

0,88

1,05

Treasury's primary quotient

Units

0,01

0,03

0,09

0,04

Rate of indebtedness ( Leverage )

%

481,88

391,38

400,75

349,01

Current Capital ( net )

Value

14.029.740

21.075.232

33.595.266

753.266

RETURN

 

 

 

 

 

Return on Sales

%

3,10

5,33

3,61

5,13

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

%

3,12

7,96

0,54

7,27

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

%

6,30

10,14

2,09

15,95

Return on Investment ( R.O.I. )

%

1,05

0,79

0,33

5,36

Return/ Sales

%

1,30

1,04

0,45

5,57

Extra Management revenues/charges incid.

%

61,91

256,24

40,46

42,11

Cash Flow

Value

4.981.884

6.318.036

4.097.247

344.143

Operating Profit

Value

2.085.297

1.238.510

512.828

359.008

Gross Operating Margin

Value

5.832.334

4.778.465

4.402.605

705.726

MANAGEMENT

 

 

 

 

 

Credits to clients average term

Days

58,56

48,83

28,91

101,37

Debts to suppliers average term

Days

184,65

203,22

195,57

115,52

Average stock waiting period

Days

88,01

82,34

90,09

80,62

Rate of capital employed return ( Turnover )

Units

0,81

0,76

0,73

1,07

Rate of stock return

Units

4,09

4,37

4,00

4,40

Labour cost incidence

%

23,14

22,60

20,79

16,91

Net financial revenues/ charges incidence

%

0,22

2,57

-0,15

-1,19

Labour cost on purchasing expenses

%

21,86

22,21

23,37

17,25

Short-term financing charges

%

2,08

1,13

1,44

2,71

Capital on hand

%

124,07

131,67

136,76

93,00

Sales pro employee

Value

138.291

6.586.713

220.695

223.920

Labour cost pro employee

Value

32.001

1.488.788

45.890

35.625

 

 

SOURCES

 

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).

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.53.81

UK Pound

1

Rs.86.52

Euro

1

Rs.69.50

 

 

INFORMATION DETAILS

 

Report Prepared by :

PRL

 

 

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.