|
Report Date : |
21.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
ETON TEXTILE S.P.A. |
|
|
|
|
Registered Office : |
Via F. Turati
, 16/C, 24020 Gorle |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
2012 |
|
|
|
|
Date of Incorporation : |
30.07.2002 |
|
|
|
|
Com. Reg. No.: |
04256881212 |
|
|
|
|
Legal Form : |
Joint-Stock/Public Company |
|
|
|
|
Line of Business : |
Wholesalers of clothing & accessories |
|
|
|
|
No. of Employees : |
13 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
Slow |
|
Litigation : |
Clear |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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, highly subsidized, agricultural south, where unemployment is high. 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 its exceptionally high public debt and structural impediments to growth have rendered it vulnerable to scrutiny by financial markets. Public debt has increased steadily since 2007, topping 126% of GDP in 2012, and investor concerns about the broader euro-zone crisis at times have caused borrowing costs on sovereign government debt to rise to euro-era. During the second half of 2011 the government passed three austerity packages to reduce its budget deficit and help bring down borrowing costs. 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 sustain its recent efforts to address Italy's long-standing structural impediments to growth, such as labor market inefficiencies and widespread tax evasion. In 2012 economic growth and labor market conditions deteriorated, with growth at -2.3% and unemployment rising to nearly 11%, with youth unemployment around 35%. The government has undertaken several reform initiatives designed to increase long-term economic growth. Italy's GDP is now 7% below its 2007 pre-crisis level.
|
Source : CIA |
Company Name ETON TEXTILE S.P.A.
Company Registration 04256881212
Number
Country IT
Activity Description Wholesalers of clothing & accessories
Latest Turnover
12,946,364.00 (EUR)
Latest Shareholders Equity 273,625.00 (EUR)
Profit Before Tax 409.492.00
(EUR)
Activities
Activity Code 5136
Activity Description
Wholesalers of clothing & accessories
Company Name ETON TEXTILE S.P.A.
Registered Company Name ETON TEXTILE S.P.A.
Company Registration Number 04256881212
Country IT
VAT Registration Number 04256881212
VAT Registration Date 30/07/2002
Date of Company Registration 30/07/2002
Date of Starting Operations 22/10/2009
Commercial Court --
Legal Form JOINT-STOCK/PUBLIC COMPANY
Type of Ownership --
Company Status A
Principal Activity Description
Contact Address VIA F. TURATI , 16/C,
24020
GORLE
Contact Telephone Number (BG)
Address S.S.100 KM.18 LOTTO 16 MOD. 21,
70010
CASAMASSIMA (BA)
Country IT
Address INTERPORTO LOTTO D1 N.103/104, 80035
NOLA
(NA)
Country IT
Current Directors Managers
Name GIUSEPPE
COZZOLINO
Address TRA GRAVINA
, 7, 80055
PORTICI (NA)
Gender Male
Date of Birth 13/12/1984
Position BOARD OF DIRECTORS PRESIDENT
Date Appointed
07/01/2013
Name ANTONIO
COZZOLINO
Address CNT SANT'EUSTACHIO , 40, 83100
AVELLINO (AV)
Gender Male
Date of Birth 31/08/1974
Position COUNCILLOR
Date Appointed
07/01/2013
Name GIUSEPPE
COZZOLINO
Address VIA E. DE NICOLA , 47,
80059
TORRE
DEL GRECO (NA)
Gender Male
Date of Birth 31/07/1977
Position COUNCILLOR
Date Appointed
07/01/2013
Name VINCENZO
COZZOLINO
Address CSO ITALIA
, 173/A, 80059 TORRE
DEL GRECO (NA)
Gender Male
Date of Birth 20/03/1975
Position COUNCILLOR
Date Appointed
07/01/2013
Name ANTONIO
COZZOLINO
Address VIA B. BUOZZI , 57/B, 80040
SAN SEBASTIANO AL VESUVIO (NA)
Gender Male
Date of Birth 02/03/1981
Position COUNCILLOR
Date Appointed
07/01/2013
Name ANTONIO
COZZOLINO
Address CSO ITALIA
, 173/A, 80059 TORRE
DEL GRECO (NA)
Gender Male
Date of Birth 14/04/1985
Position COUNCILLOR
Date Appointed 07/01/2013
Nominal Share Capital 4,000,000.00 (EUR)
Issued Share capital 2,500,000.00 (EUR)
Year 2012
Number of Employees 13
Year 2011
Number of Employees 11
Year 2010
Number of Employees 4
Profit & Loss
Financial Year 2012 2011 2010
Number of Weeks 0 0 0
Currency EUR EUR EUR
Revenue 12,946,364.00 12,881,357.00 7,947,770.00
Operating Costs 11,891,688.00 11,744,226.00 7,287,603.00
Operating Profit 1,054,676.00 1,137,131.00 660,167.00
Wages & Salaries
430,363.00 320,482.00 78,728.00
Depreciation 35,922.00 22,804.00
10,234.00
Amortisation 1,896.00 621.00
1,001.00
Financial Income 5,362.00 181.00
381.00
Financial Expenses 725,551.00 298,243.00 49,394.00
Extraordinary Income 3,905.00 0.00 0.00
Profit Before Tax 409,492.00 796,256.00 619,983.00
Tax 188,146.00 292,095.00 215,858.00
Profit After Tax 221,346.00 504,161.00 404,125.00
Balance Sheet
Financial Year 2012 2011 2010
Number of Weeks 0 0 0
Currency EUR EUR EUR
Land & Buildings
0.00 0.00 0.00
Other Tangible Assets 362,761.00 129,531.00 81,449.00
Total Tangible Assets 362,761.00 129,531.00 81,449.00
Total Intangible Assets 5,721.00 1,242.00
1,863.00
Investments 0.00 0.00 0.00
Loans to Group 0.00 0.00 0.00
Miscellaneous Fixed Assets 31,822.00 118,822.00 107,822.00
Total Other Fixed Assets 31,822.00 118,822.00 107,822.00
Total Fixed Assets 400,304.00 249,595.00 191,134.00
Raw Materials 6,066,744.00 3,136,935.00 1,140,179.00
Other Inventories 0.00 0.00 0.00
Total Inventories 6,066,744.00 3,136,935.00 1,140,179.00
Trade Receivables 6,933,797.00 6,392,367.00 4,952,196.00
Miscellaneous Receivables 3,876,999.00 929,612.00 111,618.00
Total Receivables 10,810,796.00 7,321,979.00 5,063,814.00
Cash 428,174.00 465,569.00 70,176.00
Other Current Assets 10,708.00 6,926.00
5,265.00
Total Current Assets 17,316,422.00 10,931,409.00 6,279,434.00
Total Assets 17,716,726.00 11,181,004.00 6,470,568.00
Trade Payables 3,923,751.00 1,653,253.00 2,491,823.00
Bank Liabilities 9,452,487.00 7,646,726.00 3,055,685.00
Miscellaneous Liabilities 287,588.00 288,530.00 227,128.00
Total Current Liabilities 13,663,826.00 9,588,509.00 5,774,636.00
Bank Liabilities due
after 1 year 1,383,064.00 0.00 0.00
Miscellaneous Liabilities
due after 1 year 896,211.00 40,219.00 7,817.00
Total Long Term Liabilities 2,279,275.00 40,219.00 7,817.00
Total Liabilities 15,943,101.00 9,628,728.00 5,782,453.00
|
Called Up Share Capital |
0.00 |
250,000.00 |
250,000.00 |
|
Share Premium |
0.00 |
0.00 |
0.00 |
|
Other Reserves |
273,625.00 |
1,302,276.00 |
438,115.00 |
|
Total Shareholders
Equity |
273,625.00 |
1,552,276.00 |
688,115.00 |
|
Other Financials |
|
|
|
|
Working Capital |
3,652,596.00 |
1,342,900.00 |
504,798.00 |
|
Net Worth |
267,904.00 |
1,551,034.00 |
686,252.00 |
Ratios
Pre-Tax Profit Margin 3.16 6.18 7.80
Return on Capital Employed 16.04 50.00 89.09
Return on Total Assets;
Employed 2.31 7.12 9.58
Return on Net Assets Employed 149.65 51.30 90.10
Sales/Net Working Capital 3.54 9.59 15.74
Stock Turnover Ratio 46.86 24.35 14.35
Debtor Days 195.49 181.13 227.43
Creditor Days 110.62 46.85 114.44
Current Ratio 1.27 1.14 1.09
Liquidity Ratio/Acid Test 0.82 0.81 0.89
Current Debt Ratio 49.94 6.18 8.39
Gearing 89.99 86.12 89.37
Equity in Percentage 1.55 14.03 10.82
Total Debt Ratio 58.27 6.20 8.40
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.73 |
|
UK Pound |
1 |
Rs.99.79 |
|
Euro |
1 |
Rs.85.07 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
---- |
NB |
New Business |
---- |
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors and their relative weights (as
indicated through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.