|
Report Date : |
08.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
CORLIGHT S.R.L. |
|
|
|
|
Registered Office : |
Via Dell' Adige, 15
, 39040- Cortaccia sulla Strada del Vino (BZ) |
|
|
|
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Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2011 |
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|
|
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Date of Incorporation : |
28.04.2010 |
|
|
|
|
Legal Form : |
Limited liability company |
|
|
|
|
Line of Business : |
Manufacture of other lighting equipment |
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|
|
|
No. of Employees : |
from 1 to 5 |
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 |
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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 (31.03.2012) |
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 |
CORLIGHT S.R.L.
Via Dell' Adige, 15
39040 - Cortaccia sulla Strada del Vino (BZ) -IT-
|
Fiscal Code |
: |
02674220211 |
|
Legal Form |
: |
Limited liability company |
|
start of Activities |
: |
14/05/2010 |
|
Equity |
: |
125.000 |
|
Turnover Range |
: |
1.000.000/1.250.000 |
|
Number of Employees |
: |
from 1 to 5 |
Manufacture of other lighting equipment
Legal Form : Limited liability company
|
Fiscal Code : 02674220211 |
|
Chamber of Commerce no. : 196148 of since
14/05/2010 |
|
V.A.T. Code : 02674220211 |
|
Establishment date |
: 28/04/2010 |
|
|
Start of Activities |
: 14/05/2010 |
|
|
Legal duration |
: 31/12/2050 |
|
|
Nominal Capital |
: 100.000 |
|
|
Subscribed Capital |
: 100.000 |
|
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Paid up Capital |
: 25.000 |
|
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|
Wohlgemuth |
Ernst Adolf |
|
|
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Born in Sarentino |
(BZ) |
on 27/09/1955 |
- Fiscal Code : WHLRST55P27I431L |
|
|
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Residence: |
Zona Industriale |
, 3 |
- 39058 |
Sarentino |
(BZ) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Sole Director |
28/04/2010 |
|
|
|
|
No
Prejudicial events are reported |
|
|
No Protests
registered |
*checkings have been performed on a national
scale.
In this module the companies in which
members hold/held positions are listed.
The Members of the subject firm are not
reported to be Members in other companies.
Shareholders' list as at date of data
collection:
|
Firm's Style / Name |
Seat / Residence |
Fiscal Code |
Owned Shares |
% Ownership |
|
Ewo S.r.l. |
Cortaccia sulla Strada del Vino - IT - |
01603000215 |
24.975 .Eur |
99,90 |
|
Wohlgemuth Hannes |
|
WHLHNS85T09A952M |
25 .Eur |
0,10 |
The Company under review has participations
in the following Companies:
|
Firm's Style |
Seat |
Fiscal Code |
Owned Shares
Amount |
% Ownership |
since |
until |
Share Status |
|
Ecolight |
Milano - IT - |
04357740960 |
|
|
|
|
Active |
In order to carry out its activities the
firm uses the following locations:
|
- |
Legal and
operative seat |
|
|
|
|
|
|
|
Dell' Adige |
, 15 |
- 39040 |
- Cortaccia sulla Strada del Vino |
(BZ) |
- IT - |
|
|
|
|
PHONE |
: 0471096040 |
|
|
|
|
Employees |
: 2 |
|
Stocks for a value of 300.000 |
Eur |
|
|
|
|
|
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.
None reported, standing to the latest
received edition of the Official Publications.
Subject under review started the activities
in 2010.
The latest 2 available b/s have been used.
During the last years, it achieved profits
(r.o.e. 1,76% on 2011) and during the last financial year an increase in sales
volume was registered (more then 100% in 2011).
The return on Investment in the last
financial year was positive (1,15%) and reflects the field's average.
The amount of the operating result for the
year 2011 is of Eur. 18.516 , on more or less the same values as in the year
before.
During the latest financial year the gross
operating margin amounted to Eur. 87.432 growing by 44,48% if compared to the
year before.
The ratio between shareholder's equity and
borrowed capital is not well balanced, the indebtedness level is equal to 8,7
but on the decrease if compared to the year before.
With regard to equity capital, an amount of
Eur. 106.618 is registered. , unchanged as opposed to the preceding year.
Total indebtedness was equal to Eur.
1.497.604 (Eur. 570.471 was the value of m/l term debts) with a growth equal to
30,11%.
Liquidity is good.
Eur. 70.789 is the value of cash flow during
the year 2011
Labour cost amounts to Eur. 127.711, with a
11,34% incidence on production costs. , whereas the incidence of such costs on
sales revenues is equal to 11,16%.
High incidence of financial charges on
turnover.
|
|
|
Complete balance-sheet for the year |
31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
1.144.700 |
|
Profit (Loss) for the period |
1.873 |
|
|
|
Complete balance-sheet for the year |
31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
161.292 |
|
Profit (Loss) for the period |
4.748 |
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 |
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|
RATIOS |
Value Type |
as at 31/12/2011 |
as at 31/12/2010 |
Sector Average |
|
COMPOSITION ON
INVESTMENT |
|
|
|
|
|
Rigidity Ratio |
Units |
0,07 |
0,08 |
0,23 |
|
Elasticity Ratio |
Units |
0,87 |
0,92 |
0,74 |
|
Availability of stock |
Units |
0,19 |
0,19 |
0,24 |
|
Total Liquidity Ratio |
Units |
0,68 |
0,73 |
0,45 |
|
Quick Ratio |
Units |
n.c. |
n.c. |
0,02 |
|
COMPOSITION ON
SOURCE |
|
|
|
|
|
Net Short-term indebtedness |
Units |
8,70 |
10,99 |
3,08 |
|
Self Financing Ratio |
Units |
0,07 |
0,08 |
0,21 |
|
Capital protection Ratio |
Units |
0,04 |
0,00 |
0,69 |
|
Liabilities consolidation quotient |
Units |
0,62 |
n.c. |
0,19 |
|
Financing |
Units |
14,05 |
10,99 |
3,45 |
|
Permanent Indebtedness Ratio |
Units |
0,42 |
0,08 |
0,44 |
|
M/L term Debts Ratio |
Units |
0,36 |
n.c. |
0,10 |
|
Net Financial Indebtedness Ratio |
Units |
n.c. |
n.c. |
0,73 |
|
CORRELATION |
|
|
|
|
|
Fixed assets ratio |
Units |
5,78 |
1,02 |
1,57 |
|
Current ratio |
Units |
1,51 |
1,00 |
1,24 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
1,19 |
0,80 |
0,81 |
|
Structure's primary quotient |
Units |
0,90 |
1,02 |
0,91 |
|
Treasury's primary quotient |
Units |
n.c. |
n.c. |
0,05 |
|
Rate of indebtedness ( Leverage ) |
% |
1512,79 |
1198,84 |
464,89 |
|
Current Capital ( net ) |
Value |
473.013 |
2.012 |
219.225 |
|
RETURN |
|
|
|
|
|
Return on Sales |
% |
6,18 |
30,86 |
3,97 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
1,76 |
4,53 |
3,54 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
0,66 |
6,84 |
12,55 |
|
Return on Investment ( R.O.I. ) |
% |
1,15 |
1,23 |
4,32 |
|
Return/ Sales |
% |
1,62 |
9,60 |
4,40 |
|
Extra Management revenues/charges incid. |
% |
10,12 |
30,66 |
22,31 |
|
Cash Flow |
Value |
70.789 |
49.776 |
114.915 |
|
Operating Profit |
Value |
18.516 |
15.484 |
124.608 |
|
Gross Operating Margin |
Value |
87.432 |
60.512 |
219.165 |
|
MANAGEMENT |
|
|
|
|
|
Credits to clients average term |
Days |
n.c. |
n.c. |
96,99 |
|
Debts to suppliers average term |
Days |
n.c. |
n.c. |
129,39 |
|
Average stock waiting period |
Days |
94,31 |
522,30 |
86,28 |
|
Rate of capital employed return ( Turnover
) |
Units |
0,71 |
0,13 |
1,05 |
|
Rate of stock return |
Units |
3,82 |
0,69 |
4,16 |
|
Labour cost incidence |
% |
11,16 |
n.c. |
16,32 |
|
Net financial revenues/ charges incidence |
% |
-1,56 |
-5,16 |
-2,12 |
|
Labour cost on purchasing expenses |
% |
11,34 |
n.c. |
16,16 |
|
Short-term financing charges |
% |
2,16 |
1,15 |
2,78 |
|
Capital on hand |
% |
140,90 |
778,55 |
94,29 |
|
Sales pro employee |
Value |
381.566 |
|
224.630 |
|
Labour cost pro employee |
Value |
42.570 |
|
33.193 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian
Rupees |
|
US Dollar |
1 |
Rs.53.14 |
|
UK Pound |
1 |
Rs.83.26 |
|
Euro |
1 |
Rs.71.93 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
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.