MIRA
INFORM REPORT
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Report Date : |
30.10.2012 |
IDENTIFICATION DETAILS
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Name : |
MORETTA S.R.L. |
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Registered Office : |
Via Campagna, 80 21056 - Induno Olona (VA) |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
01.01.1965 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Manufacture of textile machinery, machinery and systems for auxiliary treatment of textiles, sewing and weaving machines (including spare parts and accessories) |
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No. of Employees : |
1 to 5 |
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RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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
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Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
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Italy |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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
Moretta S.r.l.
Via Campagna, 80
21056 - Induno Olona (VA) -IT-
Summary
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Fiscal Code |
: |
01219000583 |
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Legal Form |
: |
Limited liability company |
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Foundation Date |
: |
01/01/1965 |
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Equity |
: |
Over 2.582.254 |
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Turnover Range |
: |
750.000/1.000.000 |
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Number of Employees |
: |
from 1 to 5 |
Activity
Manufacture of textile machinery, machinery and systems for auxiliary treatment
of textiles, sewing and weaving machines (including spare parts and
accessories)
Legal Data
Legal Form : Limited liability company
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Fiscal Code : 01219000583 |
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Chamber of Commerce no. : 202831 of since 04/12/1987 |
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V.A.T. Code : 02279050120 |
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Foundation date |
: 01/01/1965 |
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Establishment date |
: 23/01/1965 |
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Legal duration |
: 31/12/2050 |
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Nominal Capital |
: 80.000 |
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Subscribed Capital |
: 80.000 |
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Paid up Capital |
: 80.000 |
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Members
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Moretta |
Maria Luisa |
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Born in Milano |
(MI) |
on 24/05/1940 |
- Fiscal Code : MRTMLS40E64F205J |
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Residence: |
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Campagna |
, 80 |
- 21056 |
Induno Olona |
(VA) |
- IT - |
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Position |
Since |
Shares Amount |
% Ownership |
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Procurator |
02/08/2001 |
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No Prejudicial events are reported |
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No Protests registered |
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Vanali |
Angelo |
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Born in Como |
(CO) |
on 16/02/1940 |
- Fiscal Code : VNLNGL40B16C933U |
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Residence: |
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Leva |
, 2 |
- 21028 |
Travedona-Monate |
(VA) |
- IT - |
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Position |
Since |
Shares Amount |
% Ownership |
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Sole Director |
02/08/2001 |
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No Prejudicial events are reported |
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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 |
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Moretta Maria Luisa |
Induno Olona - IT - |
MRTMLS40E64F205J |
64.000 .Eur |
80,00 |
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Vanali Angelo |
Travedona-Monate - IT - |
VNLNGL40B16C933U |
16.000 .Eur |
20,00 |
Direct Participations
The Company under review has participations in the following Companies:
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Firm's Style |
Seat |
Fiscal Code |
Owned Shares
Amount |
% Ownership |
since |
until |
Share Status |
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Sagi S.r.l. |
Milano - IT - |
03021300151 |
80.000 .Eur |
100,00 |
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Active |
Firm's location and structure
In order to carry out its activities the firm uses the following
locations:
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- |
Legal and operative seat |
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Campagna |
, 80 |
- 21056 |
- Induno Olona |
(VA) |
- IT - |
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PHONE |
: 0332201336 |
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Legal mail |
: CONTACT@PEC.MORETTASRL.COM |
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Assistants |
: 1 |
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Fittings and Equipment for a value of 2.340.000 |
Eur |
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Stocks for a value of 87.000 |
Eur |
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The firm operates abroad as importer / exporter..
To purchase foreign products the firm uses the following channels :
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- direct orders to foreign companies |
Export represents from 20% to 50% of the global turnover.
Products abroad are placed by :
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- its own agents |
Import comes generally from the following nations:
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- Hungary |
Export is mainly towards:
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- Italy |
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- France |
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- Ireland |
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- Greece |
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- Gabon |
Historical Information and/or Firm's Status
CEASINGS/INCORPORATIONS/MERGES:
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Project of merging by taking over of |
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MUSSI |
, 0004 |
, 20100 |
, Milano |
(MI) |
- IT - |
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Fiscal Code: 06708770158 |
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Date |
Merging/splitting-up project: |
06/10/2009 |
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The firm absorbed by merging of |
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MUSSI |
, 0004 |
, 20100 |
, Milano |
(MI) |
- IT - |
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Fiscal Code: 06708770158 |
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Date |
: |
30/12/2009 |
Protests
Protests checking on the subject firm has given a negative result.
Data Base Prejudicial Events
Search
Search performed on a National Scale
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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
Company's starting of activities dates back to 1965.
On the base of the analysis made on the b/s of the years 2011 and 2010,
it can be gathered that:
Under the financial profile unstable results are noted. with a loss in
the last financial year.
The return on investment in the last financial year was negative
(-3,4%).
The operating loss is equal to Eur. -344.048.
The GOM is negative and amounts to Eur. -178.060.
From a financial aspect the company's status covers total short-term
debts; the indebtedness volume in 2011 is in fact 0,04 and with an upward trend
compared to the previous year.
The equity capital is equal to Eur. 5.516.035 , unchanged as opposed to
the preceding year.
Total debts recorded amounted to Eur. 4.584.264 (Eur. 4.222.605 of which
were m/l term debts) , a more or less stable value.
Available funds are good.
Managerial cash flow has a minus sign and is equal to Eur. -105.200.
High incidence of financial charges on turnover.
Financial Data
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Complete balance-sheet for the year |
31/12/2011 |
(in Eur |
x 1) |
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Item Type |
Value |
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Sales |
789.652 |
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Profit (Loss) for the period |
-271.188 |
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Complete balance-sheet for the year |
31/12/2010 |
(in Eur |
x 1) |
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Item Type |
Value |
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Sales |
836.977 |
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Profit (Loss) for the period |
48.962 |
Balance Sheets
From our constant monitoring of the relevant Public Administration
offices, no more recent balance sheets result to have been filed.
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- Balance Sheet as at 31/12/2011 - 12 Mesi - Currency: - Amounts x 1 |
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- Balance Sheet as at 31/12/2010 - 12 Mesi - Currency: - Amounts x 1 |
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RATIOS |
Value Type |
as at 31/12/2011 |
as at 31/12/2010 |
Sector Average |
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COMPOSITION ON
INVESTMENT |
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Rigidity Ratio |
Units |
0,94 |
0,92 |
0,18 |
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Elasticity Ratio |
Units |
0,06 |
0,08 |
0,80 |
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Availability of stock |
Units |
0,01 |
0,06 |
0,24 |
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Total Liquidity Ratio |
Units |
0,05 |
0,01 |
0,48 |
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Quick Ratio |
Units |
0,01 |
0,00 |
0,03 |
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COMPOSITION ON
SOURCE |
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Net Short-term indebtedness |
Units |
0,04 |
0,05 |
3,25 |
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Self Financing Ratio |
Units |
0,55 |
0,56 |
0,19 |
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Capital protection Ratio |
Units |
1,03 |
0,98 |
0,63 |
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Liabilities consolidation quotient |
Units |
11,68 |
13,84 |
0,19 |
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Financing |
Units |
0,83 |
0,80 |
3,80 |
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Permanent Indebtedness Ratio |
Units |
0,96 |
0,97 |
0,36 |
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M/L term Debts Ratio |
Units |
0,42 |
0,41 |
0,11 |
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Net Financial Indebtedness Ratio |
Units |
n.c. |
n.c. |
0,63 |
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CORRELATION |
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Fixed assets ratio |
Units |
1,03 |
1,05 |
1,75 |
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Current ratio |
Units |
1,73 |
2,56 |
1,21 |
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Acid Test Ratio-Liquidity Ratio |
Units |
1,49 |
0,42 |
0,81 |
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Structure's primary quotient |
Units |
0,58 |
0,60 |
1,03 |
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Treasury's primary quotient |
Units |
0,33 |
0,16 |
0,06 |
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Rate of indebtedness ( Leverage ) |
% |
183,21 |
179,90 |
516,42 |
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Current Capital ( net ) |
Value |
263.021 |
485.615 |
422.465 |
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RETURN |
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Return on Sales |
% |
-13,32 |
24,78 |
3,35 |
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Return on Equity - Net- ( R.O.E. ) |
% |
-4,92 |
0,85 |
5,13 |
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Return on Equity - Gross - ( R.O.E. ) |
% |
-7,01 |
1,98 |
14,77 |
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Return on Investment ( R.O.I. ) |
% |
-3,40 |
1,25 |
4,16 |
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Return/ Sales |
% |
-43,57 |
15,53 |
4,11 |
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Extra Management revenues/charges incid. |
% |
n.c. |
37,66 |
28,57 |
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Cash Flow |
Value |
-105.200 |
207.406 |
122.482 |
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Operating Profit |
Value |
-344.048 |
130.000 |
144.752 |
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Gross Operating Margin |
Value |
-178.060 |
288.444 |
241.990 |
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MANAGEMENT |
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Credits to clients average term |
Days |
n.c. |
n.c. |
111,85 |
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Debts to suppliers average term |
Days |
n.c. |
n.c. |
128,30 |
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Average stock waiting period |
Days |
39,65 |
286,07 |
80,43 |
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Rate of capital employed return ( Turnover ) |
Units |
0,08 |
0,08 |
1,08 |
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Rate of stock return |
Units |
9,08 |
1,26 |
4,45 |
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Labour cost incidence |
% |
n.c. |
n.c. |
19,12 |
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Net financial revenues/ charges incidence |
% |
-5,38 |
-1,88 |
-1,08 |
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Labour cost on purchasing expenses |
% |
n.c. |
n.c. |
19,02 |
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Short-term financing charges |
% |
0,94 |
0,35 |
2,68 |
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Capital on hand |
% |
1279,76 |
1243,90 |
91,91 |
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Sales pro employee |
Value |
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198.432 |
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Labour cost pro employee |
Value |
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35.779 |
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
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.81 |
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|
1 |
Rs.86.52 |
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Euro |
1 |
Rs.69.50 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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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 |
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-- |
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.