MIRA INFORM REPORT

 

 

Report Date :

06.12.2013

 

IDENTIFICATION DETAILS

 

Name :

S.I.M.P. - S.P.A. ( SOCIETA' ITALIANA MATERIE PRIME)

 

 

Registered Office :

Strada Trossi,98,

13030- Verrone (BI)

 

 

Country :

Italy

 

 

Financials (as on) :

30.09.2012

 

 

Date of Incorporation :

03.07.2006

 

 

Legal Form :

Joint stock company with sole shareholder

 

 

Line of Business :

Wholesale of raw and semi-finished textile fibres

 

 

No. of Employees :

from 11 to 15

 

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 :

--

 

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 & address

 

S.I.M.P. - S.P.A. ( SOCIETA' ITALIANA MATERIE PRIME)

 

 

Strada Trossi,98

 

13030- Verrone (BI) -IT-

 

 

Summary

 

Fiscal Code

:

02270510023

Legal Form

:

Joint stock company with sole shareholder

start of Activities

:

13/07/2006

Equity

:

Over 2.582.254

Turnover Range

:

35.000.000/50.000.000

Number of Employees

:

from 11 to 15

 

 

Activity

 

Wholesale of raw and semi-finished textile fibres



Legal Data

 

Legal Form :                              Joint stock company with sole shareholder

Fiscal Code :                             02270510023

 

Foreign Trade Reg. no. :             BI010271 since 20/11/2006

 

Chamber of Commerce no. :       184880 of Biella since 12/07/2006

 

V.A.T. Code :                            02270510023

 

Establishment date

: 03/07/2006

Start of Activities

: 13/07/2006

Legal duration

: 31/12/2050

Nominal Capital

: 5.000.000

 

Subscribed Capital

: 5.000.000

 

Paid up Capital

: 5.000.000

 



Members

 

 

Battistella

Giorgio

 

 

 

Born in Biella

(VC)

on 18/09/1960

- Fiscal Code : BTTGRG60P18A859G

 

 

 

Residence:

 

Senatore Frassati

, 11

- 13814

Pollone

(BI)

- IT -

 

Position

Since

Shares Amount

% Ownership

Managing Director

22/11/2012

 

 

Director

15/11/2012

 

 

 

 

No Prejudicial events are reported

 

 

No Protests registered

 

 

Co.fi.s. - S.p.a.

 

 

 

 

 

 

Residence:

 

Trossi

, 98

- 13871

Verrone

(BI)

- IT -

 

Position

Since

Shares Amount

% Ownership

Sole partner

03/07/2006

 

 

 

 

No Prejudicial events are reported

 

 

No Protests registered

 

 

Schwarzenberg

Marco

 

 

 

Born in Biella

(VC)

on 08/08/1967

- Fiscal Code : SCHMRC67M08A859B

 

 

 

Residence:

 

Vallauta

, 5

- 13814

Pollone

(BI)

- IT -

 

Position

Since

Shares Amount

% Ownership

Managing Director

22/11/2012

 

 

Board Chairman

15/11/2012

 

 

Director

15/11/2012

 

 

 

 

No Prejudicial events are reported

 

 

No Protests registered

 

 

Schwarzenberg

Carlo

 

 

 

Born in Biella

(VC)

on 18/07/1969

- Fiscal Code : SCHCRL69L18A859P

 

 

 

Residence:

 

Molinetto

, 1/3

- 13814

Pollone

(BI)

- IT -

 

Position

Since

Shares Amount

% Ownership

Managing Director

22/11/2012

 

 

Director

15/11/2012

 

 

 

 

No Prejudicial events are reported

 

 

No Protests registered



Companies connected to members *

 

*checkings have been performed on a national scale.

 

In this module are listed the companies in which members hold or have holded positions.

 

 

Battistella

Giorgio

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

Finagel - S.r.l.

Verrone (BI) - IT -

01692240029

Director

Withdrawn

Registered

Finagel - S.r.l.

Verrone (BI) - IT -

01692240029

Sole Director

Active

Registered

Finagel - S.r.l.

Verrone (BI) - IT -

01692240029

Director

Withdrawn

Registered

Finagel - S.r.l.

Verrone (BI) - IT -

01692240029

Board Chairman

Withdrawn

Registered

Co.fi.s. - S.p.a.

Verrone (BI) - IT -

01866270026

Managing Director

Active

Registered

Co.fi.s. - S.p.a.

Verrone (BI) - IT -

01866270026

Director

Withdrawn

Registered

Co.fi.s. - S.p.a.

Verrone (BI) - IT -

01866270026

Director

Active

Registered

Co.fi.s. - S.p.a.

Verrone (BI) - IT -

01866270026

Responsible technician

Active

Registered

Centro Distribuzione Alimenti Surgelati

VERRONE - STRADA TROSSI 230 - IT -

 

Director

Active

Registered

Casa Gualino Di Schwarzenberg Sergio E C. - S.r.l. Siglata Cg S.r.l. Con O Senza

Verrone (BI) - IT -

02034530028

Managing Director

Active

Registered

Casa Gualino Di Schwarzenberg Sergio E C. - S.r.l. Siglata Cg S.r.l. Con O Senza

Verrone (BI) - IT -

02034530028

Director

Active

Registered

Peano 11 S.s.

Biella (BI) - IT -

02368070013

Partner

Active

Registered

Immobilaire Ma-gi - Societa' Semplice

Biella (BI) - IT -

81007380025

Partner

Active

Registered

Fibre Tessili - S.r.l.

Verrone (BI) - IT -

02051180020

Managing Director

Active

Registered

Fibre Tessili - S.r.l.

Verrone (BI) - IT -

02051180020

Director

Active

Registered

Fibre Tessili - S.r.l.

Verrone (BI) - IT -

02051180020

Responsible technician

Active

Registered

Fibre Tessili 3 - Societa' A Responsabilita' Limitata

Verrone (BI) - IT -

02148070028

Managing Director

Withdrawn

Registered

Fibre Tessili 3 - Societa' A Responsabilita' Limitata

Verrone (BI) - IT -

02148070028

Director

Withdrawn

Registered

Fibre Tessili 3 - Societa' A Responsabilita' Limitata

Verrone (BI) - IT -

02148070028

Responsible technician

Withdrawn

Registered

Fibre Tessili 4 - Societa' A Responsabilita' Limitata Ad Unico Socio

Verrone (BI) - IT -

02282870027

Managing Director

Withdrawn

Registered

Fibre Tessili 4 - Societa' A Responsabilita' Limitata Ad Unico Socio

Verrone (BI) - IT -

02282870027

Director

Withdrawn

Registered

 

 

Schwarzenberg

Marco

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

Co.Fi.S. SpA

Verrone (BI) - IT -

00245600028

Managing Director

Withdrawn

Registered

Co.Fi.S. SpA

Verrone (BI) - IT -

00245600028

Director

Withdrawn

Registered

Co.fi.s. - S.p.a.

Verrone (BI) - IT -

01866270026

Managing Director

Active

Registered

Co.fi.s. - S.p.a.

Verrone (BI) - IT -

01866270026

Director

Active

Registered

Co.fi.s. - S.p.a.

Verrone (BI) - IT -

01866270026

Board Chairman

Active

Registered

S. Vito '82 Societa' Semplice

Biella (BI) - IT -

90006320023

Partner

Withdrawn

Registered

Casa Gualino Di Schwarzenberg Sergio E C. - S.r.l. Siglata Cg S.r.l. Con O Senza

Verrone (BI) - IT -

02034530028

Managing Director

Active

Registered

Casa Gualino Di Schwarzenberg Sergio E C. - S.r.l. Siglata Cg S.r.l. Con O Senza

Verrone (BI) - IT -

02034530028

Director

Active

Registered

Fibre Tessili - S.r.l.

Verrone (BI) - IT -

02051180020

Managing Director

Active

Registered

Fibre Tessili - S.r.l.

Verrone (BI) - IT -

02051180020

Director

Active

Registered

Fibre Tessili - S.r.l.

Verrone (BI) - IT -

02051180020

Board Chairman

Active

Registered

Fibre Tessili 3 - Societa' A Responsabilita' Limitata

Verrone (BI) - IT -

02148070028

Managing Director

Withdrawn

Registered

Fibre Tessili 3 - Societa' A Responsabilita' Limitata

Verrone (BI) - IT -

02148070028

Director

Withdrawn

Registered

Fibre Tessili 3 - Societa' A Responsabilita' Limitata

Verrone (BI) - IT -

02148070028

Board Chairman

Withdrawn

Registered

Fibre Tessili 4 - Societa' A Responsabilita' Limitata Ad Unico Socio

Verrone (BI) - IT -

02282870027

Managing Director

Withdrawn

Registered

Fibre Tessili 4 - Societa' A Responsabilita' Limitata Ad Unico Socio

Verrone (BI) - IT -

02282870027

Director

Withdrawn

Registered

Fibre Tessili 4 - Societa' A Responsabilita' Limitata Ad Unico Socio

Verrone (BI) - IT -

02282870027

Board Chairman

Withdrawn

Registered

 

 

Schwarzenberg

Carlo

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

Co.fi.s. - S.p.a.

Verrone (BI) - IT -

01866270026

Managing Director

Active

Registered

Co.fi.s. - S.p.a.

Verrone (BI) - IT -

01866270026

Director

Active

Registered

S. Vito '82 Societa' Semplice

Biella (BI) - IT -

90006320023

Partner

Withdrawn

Registered

Casa Gualino Di Schwarzenberg Sergio E C. - S.r.l. Siglata Cg S.r.l. Con O Senza

Verrone (BI) - IT -

02034530028

Managing Director

Active

Registered

Casa Gualino Di Schwarzenberg Sergio E C. - S.r.l. Siglata Cg S.r.l. Con O Senza

Verrone (BI) - IT -

02034530028

Director

Active

Registered

Fibre Tessili - S.r.l.

Verrone (BI) - IT -

02051180020

Managing Director

Active

Registered

Fibre Tessili - S.r.l.

Verrone (BI) - IT -

02051180020

Director

Active

Registered

Fibre Tessili 3 - Societa' A Responsabilita' Limitata

Verrone (BI) - IT -

02148070028

Director

Withdrawn

Registered

Fibre Tessili 4 - Societa' A Responsabilita' Limitata Ad Unico Socio

Verrone (BI) - IT -

02282870027

Director

Withdrawn

Registered

The indication "REGISTERED" as Firm Status could refer to Firms in Liquidation, Active, Inactive, etc.

For more information, in this case, we advise to request further investigations.


Capital Shareholders

 

Shareholders' list as at date of data collection:

 

Firm's Style / Name

Seat / Residence

Fiscal Code

Owned Shares

% Ownership

Co.fi.s. - S.p.a.

Verrone - IT -

01866270026

 

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

Fibre Tessili - S.r.l.

Verrone - IT -

02051180020

49.500 .Eur

99,00

 

 

Active

Fibre Tessili 3 - Societa' A Responsabil ita' Limitata

Verrone - IT -

02148070028

50.000 .Eur

100,00

 

 

Active

Fibre Tessili 4 - Societa' A Responsabil ita' Limitata Ad Unico Socio

Verrone - IT -

02282870027

50.000 .Eur

100,00

 

 

Active


Firm's location and structure

 

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

 

-

Legal and operative seat

 

 

 

 

 

 

 

Trossi

, 98

- 13030

- Verrone

(BI)

- IT -

 

 

 

 

PHONE

: 0152556300

 

 

 

 

FAX

: 0152556361

 

 

 

 

Employees

: 14

 

Fittings and Equipment for a value of 17.000

Eur

 

Stocks for a value of 9.200.000

Eur

 

 

 

Historical Information and/or Firm's Status

 

EX-MEMBERS / EX-POSITIONS:

 

 

Boggio

Carlo

 

 

 

Born in Lessona

(VC)

on 21/03/1938

- Fiscal Code : BGGCRL38C21E552N

 

 

 

Residence:

 

Per Oropa

, 227

- 13900

Biella

(BI)

- IT -

 

Ex-Postions

Permanent Auditor

 

 

 

Ogliaro

Corrado

 

 

 

Born in Biella

(VC)

on 06/03/1968

- Fiscal Code : GLRCRD68C06A859F

 

 

 

Residence:

 

Roma

, 5

- 13818

Tollegno

(BI)

- IT -

 

Ex-Postions

Temporary Auditor

 

 

 

Grosso

Alberto

 

 

 

Born in Biella

(VC)

on 18/11/1968

- Fiscal Code : GRSLRT68S18A859A

 

 

 

Residence:

 

Mazzini

, 39

- 13872

Borriana

(BI)

- IT -

 

Ex-Postions

Temporary Auditor



CEASINGS/INCORPORATIONS/MERGES:

 

·         Project of merging by taking over of

 

Fibre Tessili 3 - Societa' A Responsabilita' Limitata

 

  Trossi , 98 , 13871 , Verrone (BI) - IT -

 

Fiscal Code: 02148070028

 

Date Merging/splitting-up project:  23/02/2009

 

·             Project of merging by taking over of

 

Fibre Tessili 4 - Societa' A Responsabilita' Limitata Ad Unico Socio

 

Trossi , 98    , 13871       , Verrone (BI) - IT -

 

Fiscal Code: 02282870027

 

Date  Merging/splitting-up project:          23/02/2009


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 2006

The eonomic-financial analysis is based on the latest 3 b/s.

During the last years, it achieved profits (r.o.e. 15,49% on 2012)

The operating result in 2012 was positive (5,41%) falling within the field's average.

The amount of the operating result is equal to Eur. 1.348.954 showing a downwards trend equal to -21,44% if compared to the value of the financial year 2011.

The gross operating margin of the latest financial year is of Eur. 1.621.154 with a -63,47% fall.

The analysis shows a fair financial position as the indebtedness volume is acceptable (1,96) but with an increase as against the previous accounting period.

Subject can manage an equity capital funds for an amount of Eur. 7.367.697 on the same levels as the year before.

Total indebtedness was equal to Eur. 15.267.673 (Eur. 650.000 was the value of m/l term debts) with no important change.

Bank borrowings' volume is slightly high but the recourse to suppliers' credit is modest below field's average.

The management determines a good range of liquidity.

As to due from customers, the average terms are 67,64 days. , that compared to the sector's average is shorter.

Eur. 1.413.118 is the value of cash flow during the year 2012

Labour cost expenses amount to Eur. 633.923 , representing 1,66% on the total of production costs. , whereas the incidence on sales revenues is of 1,66%.

The financial management is positive as incomes are higher than the charges.



Financial Data

 

Complete balance-sheet for the year       30/09/2012   (in Eur  x 1)

 

Item Type

Value

Sales

38.294.360

Profit (Loss) for the period

1.140.918

 

Complete balance-sheet for the year    30/09/2011 (in Eur x 1)

 

Item Type

Value

Sales

46.649.116

Profit (Loss) for the period

1.155.622

 

Complete balance-sheet for the year    30/09/2010 (in Eur x 1)

 

Item Type

Value

Sales

34.598.114

Profit (Loss) for the period

416.653


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 30/09/2012 - 12 Mesi - Currency: - Amounts x 1

 

- Balance Sheet as at 30/09/2011 - 12 Mesi - Currency: - Amounts x 1

 

- Balance Sheet as at 30/09/2010 - 12 Mesi - Currency: - Amounts x 1

 

Years

2012

2011

2010

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

 

 

 

. . Concessions,licenses,trademarks,etc.

5.516

9.698

224

. . Goodwill

 

 

 

. . Assets in formation and advance paymen.

 

 

 

. . Other intangible fixed assets

9.140

14.049

9.124

. Total Intangible Fixed Assets

14.656

23.747

9.348

. TANGIBLE FIXED ASSETS

 

 

 

. . Real estate

2.299.211

2.347.987

2.396.764

. . Plant and machinery

14.378

18.026

25.332

. . Industrial and commercial equipment

2.388

2.325

2.775

. . Other assets

234.923

159.989

52.342

. . Assets under construction and advances

 

 

 

. Total Tangible fixed assets

2.550.900

2.528.327

2.477.213

. FINANCIAL FIXED ASSETS

 

 

 

. . Equity investments

558.663

49.500

49.500

. . . Equity invest. in subsidiary companies

558.663

49.500

49.500

. . . Equity invest. in associated companies

 

 

 

. . . Equity invest. in holding companies

 

 

 

. . . Equity invest. in other companies

 

 

 

. . Financial receivables

16.033

200

200

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

16.033

200

200

. . . 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

16.033

200

200

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

16.033

200

200

. . Other securities

 

 

 

. . Own shares

 

 

 

. . . Total nominal value

 

 

 

. Total financial fixed assets

574.696

49.700

49.700

Total fixed assets

3.140.252

2.601.774

2.536.261

CURRENT ASSETS

 

 

 

. INVENTORIES

 

 

 

. . Raw materials and other consumables

2.364

7.900

6.726

. . Work in progress and semimanufactured

 

 

 

. . Work in progress on order

 

 

 

. . Finished goods

9.199.505

8.720.066

10.397.855

. . Advance payments

 

 

 

. Total Inventories

9.201.869

8.727.966

10.404.581

. CREDITS NOT HELD AS FIXED ASSETS

 

 

 

. . Within 12 months

12.378.687

11.584.248

10.747.825

. . Beyond 12 months

 

 

 

. . Trade receivables

7.195.476

6.807.943

8.416.899

. . . . Within 12 months

7.195.476

6.807.943

8.416.899

. . . . Beyond 12 months

 

 

 

. . Receivables due from subsid. comp.

1.892.572

1.355.979

337.569

. . . . Within 12 months

1.892.572

1.355.979

337.569

. . . . Beyond 12 months

 

 

 

. . Receivables due from assoc. comp.

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Receivables due from holding comp.

1.681.207

1.374.682

630.280

. . . . Within 12 months

1.681.207

1.374.682

630.280

. . . . Beyond 12 months

 

 

 

. . Fiscal Receivables

371.387

818.322

957.494

. . . . Within 12 months

371.387

818.322

957.494

. . . . Beyond 12 months

 

 

 

. . Receivables for anticipated taxes

691.073

851.525

167.470

. . . . Within 12 months

691.073

851.525

167.470

. . . . Beyond 12 months

 

 

 

. . Receivables due from third parties

546.972

375.797

238.113

. . . . Within 12 months

546.972

375.797

238.113

. . . . Beyond 12 months

 

 

 

. Total Credits not held as fixed assets

12.378.687

11.584.248

10.747.825

. 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

202.760

316.093

96.693

. . Checks

 

 

 

. . Banknotes and coins

83

56

19

. Total Liquid funds

202.843

316.149

96.712

Total current assets

21.783.399

20.628.363

21.249.118

ADJUSTMENT ACCOUNTS

 

 

 

. Discount on loans

 

 

 

. Other adjustment accounts

11.051

9.987

43.164

Total adjustments accounts

11.051

9.987

43.164

TOTAL ASSETS

24.934.702

23.240.124

23.828.543

 

 

 

 

LIABILITIES

 

 

 

STOCKHOLDERS' EQUITY

 

 

 

. Capital stock

5.000.000

5.000.000

5.000.000

. Additional paid-in capital

 

 

 

. Revaluation reserves

1.041.012

1.041.012

1.041.012

. Legal reserve

138.836

81.055

60.222

. Reserve for Own shares

 

 

 

. Statute reserves

 

 

 

. Other reserves

46.931

39.091

43.271

. Accumulated Profits (Losses)

 

 

 

. Profit( loss) of the year

1.140.918

1.155.622

416.653

. Advances on dividends

 

 

 

. Partial loss of the year Coverage

 

 

 

Total Stockholders'Equity

7.367.697

7.316.780

6.561.158

RESERVES FOR RISKS AND CHARGES

 

 

 

. . Reserve for employee termination indem.

 

 

 

. . Taxation fund, also differed

3.359

33.553

46.313

. . Other funds

1.945.134

2.593.512

 

Total Reserves for Risks and Charges

1.948.493

2.627.065

46.313

Employee termination indemnities

264.664

251.292

227.851

ACCOUNTS PAYABLE

 

 

 

. . . . Within 12 months

14.617.673

12.033.058

16.917.169

. . . . Beyond 12 months

650.000

950.000

10.732

. . 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

11.058.718

8.257.658

12.853.102

. . . . Within 12 months

10.408.718

7.307.658

12.853.102

. . . . Beyond 12 months

650.000

950.000

 

. . Due to other providers of finance

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Advances from customers

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Trade payables

2.314.512

2.570.299

3.149.682

. . . . Within 12 months

2.314.512

2.570.299

3.149.682

. . . . Beyond 12 months

 

 

 

. . Securities issued

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Due to subsidiary companies

244.212

296.109

141.902

. . . . Within 12 months

244.212

296.109

141.902

. . . . Beyond 12 months

 

 

 

. . Due to associated companies

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Due to holding companies

1.188.641

263.070

513.059

. . . . Within 12 months

1.188.641

263.070

513.059

. . . . Beyond 12 months

 

 

 

. . Due to the tax authorities

372.965

1.462.761

161.880

. . . . Within 12 months

372.965

1.462.761

151.148

. . . . Beyond 12 months

 

 

10.732

. . Due to social security and welfare inst.

38.322

39.216

33.053

. . . . Within 12 months

38.322

39.216

33.053

. . . . Beyond 12 months

 

 

 

. . Other payables

50.303

93.945

75.223

. . . . Within 12 months

50.303

93.945

75.223

. . . . Beyond 12 months

 

 

 

Total accounts payable

15.267.673

12.983.058

16.927.901

ADJUSTMENT ACCOUNTS

 

 

 

. Agio on loans

 

 

 

. Other adjustment accounts

86.175

61.929

65.320

Total adjustment accounts

86.175

61.929

65.320

TOTAL LIABILITIES

24.934.702

23.240.124

23.828.543

 

 

 

 

 

 

 

 

PROFIT AND LOSS ACCOUNTS

 

 

VALUE OF PRODUCTION

 

 

 

. Revenues from sales and services

38.294.360

46.649.116

34.598.114

. Changes in work in progress

479.439

-1.677.789

4.181.870

. Changes in semi-manufact. products

 

 

 

. Capitalization of internal work

 

 

 

. Other income and revenues

659.297

16.236

22.170

. . Contributions for operating expenses

 

 

 

. . Different income and revenues

659.297

16.236

22.170

Total value of production

39.433.096

44.987.563

38.802.154

PRODUCTION COSTS

 

 

 

. Raw material,other materials and consum.

32.241.972

34.180.473

30.490.694

. Services received

4.869.255

5.611.289

6.521.069

. Leases and rentals

 

 

 

. Payroll and related costs

633.923

663.400

622.669

. . Wages and salaries

460.798

483.743

456.021

. . Social security contributions

139.684

148.462

140.186

. . Employee termination indemnities

32.124

28.873

25.691

. . Pension and similar

 

 

 

. . Other costs

1.317

2.322

771

. Amortization and depreciation

272.200

128.159

165.934

. . Amortization of intangible fixed assets

10.091

10.726

8.342

. . Amortization of tangible fixed assets

115.758

91.370

73.928

. . Depreciation of tangible fixed assets

 

 

 

. . Writedown of current receiv.and of liquid

146.351

26.063

83.664

. Changes in raw materials

5.535

-1.174

-1.927

. Provisions to risk reserves

 

2.593.512

 

. Other provisions

 

 

 

. Other operating costs

61.257

94.709

96.956

Total production costs

38.084.142

43.270.368

37.895.395

Diff. between value and cost of product.

1.348.954

1.717.195

906.759

FINANCIAL INCOME AND EXPENSE

 

 

 

. Income from equity investments

247.500

99.000

 

. . In subsidiary companies

 

 

 

. . In associated companies

 

 

 

. . In other companies

 

 

 

. Other financial income

966

590

104

. . 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

 

 

 

. . . - Subsidiary companies

 

 

 

. . . - Associated companies

 

 

 

. . . - Holding companies

 

 

 

. . . - Other companies

 

 

 

. Interest and other financial expense

-57.245

-13.130

-327.398

. . Towards subsidiary companies

 

 

 

. . Towards associated companies

 

 

 

. . Towards holding companies

 

 

 

. . Towards other companies

 

 

 

Total financial income and expense

191.221

86.460

-327.294

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

63.949

81.315

144.609

. . Gains on disposals

10.515

13.010

10

. . Other extraordinary income

53.434

68.305

144.599

. Extraordinary expense

-5.977

-13.269

-18.344

. . Losses on disposals

-4.059

-2.191

 

. . Taxes relating to prior years

 

 

 

. . Other extraordinary expense

-1.918

-11.078

-18.344

Total extraordinary income and expense

57.972

68.046

126.265

Results before income taxes

1.598.147

1.871.701

705.730

. Taxes on current income

457.229

716.079

289.077

. . current taxes

490.501

1.395.742

260.524

. . differed taxes(anticip.)

-33.272

-679.663

28.553

. Net income for the period

1.140.918

1.155.622

416.653

. Adjustments in tax regulations pursuance

 

 

 

. Provisions in tax regulations pursuance

 

 

 

. Profit (loss) of the year

1.140.918

1.155.622

416.653

 

 

RATIOS

Value Type

as at 30/09/2012

as at 30/09/2011

as at 30/09/2010

Sector Average

COMPOSITION ON INVESTMENT

 

 

 

 

 

Rigidity Ratio

Units

0,13

0,11

0,11

0,11

Elasticity Ratio

Units

0,87

0,89

0,89

0,87

Availability of stock

Units

0,37

0,38

0,44

0,22

Total Liquidity Ratio

Units

0,50

0,51

0,46

0,56

Quick Ratio

Units

0,01

0,01

0,00

0,02

COMPOSITION ON SOURCE

 

 

 

 

 

Net Short-term indebtedness

Units

1,96

1,60

2,56

3,81

Self Financing Ratio

Units

0,30

0,31

0,28

0,17

Capital protection Ratio

Units

0,17

0,16

0,17

0,65

Liabilities consolidation quotient

Units

0,06

0,10

0,01

0,12

Financing

Units

2,07

1,77

2,58

4,72

Permanent Indebtedness Ratio

Units

0,33

0,37

0,29

0,30

M/L term Debts Ratio

Units

0,04

0,05

0,01

0,07

Net Financial Indebtedness Ratio

Units

1,47

1,09

1,94

1,28

CORRELATION

 

 

 

 

 

Fixed assets ratio

Units

2,64

3,27

2,68

2,06

Current ratio

Units

1,49

1,71

1,26

1,16

Acid Test Ratio-Liquidity Ratio

Units

0,86

0,99

0,64

0,84

Structure's primary quotient

Units

2,35

2,81

2,59

1,28

Treasury's primary quotient

Units

0,01

0,03

0,01

0,03

Rate of indebtedness ( Leverage )

%

338,43

317,63

363,18

591,61

Current Capital ( net )

Value

7.165.726

8.595.305

4.331.949

219.071

RETURN

 

 

 

 

 

Return on Sales

%

3,69

2,75

1,68

2,22

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

%

15,49

15,79

6,35

6,27

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

%

21,69

25,58

10,76

15,95

Return on Investment ( R.O.I. )

%

5,41

7,39

3,81

4,19

Return/ Sales

%

3,52

3,68

2,62

3,42

Extra Management revenues/charges incid.

%

84,58

67,30

45,95

29,26

Cash Flow

Value

1.413.118

1.283.781

582.587

61.669

perating Profit

Value

1.348.954

1.717.195

906.759

95.558

Gross Operating Margin

Value

1.621.154

4.438.866

1.072.693

144.934

MANAGEMENT

 

 

 

 

 

Credits to clients average term

Days

67,64

52,54

87,58

120,94

Debts to suppliers average term

Days

36,35

28,31

37,01

120,04

Average stock waiting period

Days

86,51

67,36

108,26

61,92

Rate of capital employed return ( Turnover )

Units

1,54

2,01

1,45

1,27

Rate of stock return

Units

4,16

5,34

3,33

5,74

Labour cost incidence

%

1,66

1,42

1,80

7,77

Net financial revenues/ charges incidence

%

0,50

0,19

-0,95

-1,26

Labour cost on purchasing expenses

%

1,66

1,53

1,64

7,90

Short-term financing charges

%

0,37

0,10

1,93

2,67

Capital on hand

%

65,11

49,82

68,87

78,39

Sales pro employee

Value

2.735.311

3.887.426

1.820.953

437.713

Labour cost pro employee

Value

45.280

55.283

32.772

33.928

 

 

Remarks

 

1) Protests checking (relative to the last five years) performed by crossing and matching the members names and the Firm's Style with the reported addresses, is supplied by the Informatic Registry managed by the Italian Chamber of Commerce. If the fiscal code is not indicated, the eventual homonymous cases are submitted to expert staff evaluation in order to limit wrong matching risks.

 

2) The Legal Data, supplied and retrived from the Firm's Registry of the Italian Chamber of Commerce, are in line with the last registered modifications.

 

3) Risk evaluation and Credit Opinion have been performed on the base of the actual data at the moment of their availability.

 

 

Market / Territory Data

 

Population living in the province

:

188.197

Population living in the region

:

4.330.172

Number of families in the region

:

1.889.207

 

Monthly family expences average in the region (in Eur..) :

 

- per food products

:

429

- per non food products

:

1.789

- per energy consume

:

135



Sector Data

 

The values are calculated on a base of 6.137 significant companies.

 

The companies cash their credits on an average of 121 dd.

The average duration of suppliers debts is about 120 dd.

The sector's profitability is on an average of 2,22%.

The labour cost affects the turnover in the measure of 7,77%.

Goods are held in stock in a range of 62 dd.

The difference between the sales volume and the resources used to realize it is about 1,27.

The employees costs represent the 7,90% of the production costs.



Statistical Detrimental Data

 

Statistically the trade activity passes through serious crises.

The area is statistically considered lowly risky.

In the region 27.019 protested subjects are found; in the province they count to 1.057.

The insolvency index for the region is 0,63, , while for the province it is 0,56.

Total Bankrupt companies in the province : 750.

Total Bankrupt companies in the region : 14.165.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.69

UK Pound

1

Rs.101.08

Euro

1

Rs.84.07

 

 

INFORMATION DETAILS

 

Report Prepared by :

NNA

 

 

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.