|
Report Date : |
05.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
ITACHEM S.R.L. |
|
|
|
|
Registered Office : |
Via Col Dino, 6 16100 - Genova |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
24.03.2004 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Wholesale of
Industrial chemical products |
|
|
|
|
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 : |
Small Company |
|
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
Itachem S.r.l.
Via Col Dino, 6
16100 - Genova (GE)
|
Fiscal Code |
: |
04030310967 |
|
Legal Form |
: |
Limited liability company |
|
start of Activities |
: |
24/03/2004 |
|
Equity |
: |
65.000 |
|
Turnover Range |
: |
200.000/250.000 |
|
Number of Employees |
: |
from 1 to 5 |
|
Group |
: |
CHIME |
Wholesale of Industrial chemical products
Legal Form : Limited liability company
|
Fiscal Code : 04030310967 |
|
Chamber of Commerce no. : 456463 of since
02/09/2011 |
|
Chamber of Commerce no. : 1720439 of |
|
V.A.T. Code : 04030310967 |
|
Establishment date |
: 18/07/2003 |
|
|
Start of Activities |
: 24/03/2004 |
|
|
Legal duration |
: 31/12/2050 |
|
|
Nominal Capital |
: 30.000 |
|
|
Subscribed Capital |
: 30.000 |
|
|
Paid up Capital |
: 30.000 |
|
|
|
Delle Side |
Angela |
|
|
|
Born in Maglie |
(LE) |
on 14/03/1967 |
- Fiscal Code : DLLNGL67C54E815J |
|
|
|
Residence: |
|
San Michele |
, 3-2 |
- 16035 |
Rapallo |
(GE) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Sole Director |
22/07/2011 |
|
|
|
|
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 |
|
Costa Sergio |
Carro - IT - |
CSTSRG45D27B838V |
|
30,00 |
|
Chime S.p.a. |
Salerno - IT - |
01954350649 |
|
20,00 |
|
Velo Federico |
CHIASSO - CH - |
VLEFRC55S02F205Z |
|
25,00 |
|
Delle Side Angela |
Rapallo - IT - |
DLLNGL67C54E815J |
|
25,00 |
The Company under review has no
participations in other Companies.
In order to carry out its activities the firm
uses the following locations:
|
- |
Legal and operative seat |
|
|
|
|
|
|
|
Col Dino |
, 6 |
- 16100 |
- Genova |
(GE) |
- IT - |
|
|
|
|
PHONE |
: 0102726977 |
|
|
|
|
FAX |
: 0102460924 |
|
- |
Registered office |
until 02/09/2011 |
|
|
|
|
|
|
Montanari |
, 1 |
- 20020 |
- Magnago |
(MI) |
- IT - |
|
|
|
|
Employees |
: 1 |
|
Stocks for a value of 5.000 |
Eur |
EX-MEMBERS / EX-POSITIONS:
|
|
Del Mastro |
Saverio |
|
|
|
Born in Avellino |
(AV) |
on 24/08/1962 |
- Fiscal Code : DLMSVR62M24A509F |
|
|
|
Residence: |
|
Roma |
, 20 |
- 83100 |
Avellino |
(AV) |
- IT - |
|
Ex-Postions |
|
Attorney with special power |
Protests checking on the subject firm has
given a negative result.
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 is active since 2004
Balance sheets for the years 2009, 2010 and
2011 were analyzed.
Under the financial profile unstable results
are noted. yet with a positive result in the 2011 (r.o.e. 10,86%). In the last
financial year a drop in sales has been registered (-28,57%).
The operating result in 2011 was positive
(11,39%) and in line with the sector's average.
An operating result of Eur. 14.676 has been
registered. increasing if compared to the yeart 2010.
A gross operating margine for a value of Eur.
21.117 was reached. with no sensible increase as against 2010.
Very good financial situation: shareholder's
equity covers short-terms debts with an indebtedness level equal to 0,88 and
with an upward trend compared to the previous year.
It's shareholders funds amount to Eur. 56.924
, stable in comparison with the value of the previous year.
During the last financial year total debts
volume reached Eur. 71.896 (Eur. 19.200 were m/l term ones) with a downward
trend if compared to the preceding year (-64,44%).
The company does not exceed in bank
borrowings; the recourse to suppliers' credit is also limited below the
sector's average.
Liquidity is not at its best.
Trade credits average terms are 15,51 days. ,
lower than the sector's average.
During financial year 2011 the cash flow
amounted to Eur. 12.625
Labour cost amounts to Eur. 4.599, with a
1,96% incidence on production costs. , with a 2,02% incidence on turnover.
Financial charges have a limited incidence
(-0,03%) on sales volume.
|
|
|
Complete balance-sheet for the year |
31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
227.287 |
|
Profit (Loss) for the period |
6.184 |
|
|
|
Complete balance-sheet for the year |
31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
318.198 |
|
Profit (Loss) for the period |
2.707 |
|
|
|
Complete balance-sheet for the year |
31/12/2009 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
911.411 |
|
Profit (Loss) for the period |
-3.974 |
|
|
|
Complete balance-sheet for the year |
31/12/2008 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
450.388 |
|
Profit (Loss) for the period |
2.120 |
|
|
|
Complete balance-sheet for the year |
31/12/2007 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
1.057.005 |
|
Profit (Loss) for the period |
20.412 |
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 |
|
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|
|
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 |
0,61 |
0,40 |
0,27 |
0,11 |
|
Elasticity Ratio |
Units |
0,39 |
0,59 |
0,72 |
0,87 |
|
Availability of stock |
Units |
0,04 |
n.c. |
n.c. |
0,22 |
|
Total Liquidity Ratio |
Units |
0,35 |
0,59 |
0,72 |
0,56 |
|
Quick Ratio |
Units |
0,02 |
0,14 |
0,05 |
0,02 |
|
COMPOSITION ON SOURCE |
|
|
|
|
|
|
Net Short-term indebtedness |
Units |
0,88 |
1,79 |
5,39 |
3,81 |
|
Self Financing Ratio |
Units |
0,44 |
0,20 |
0,12 |
0,17 |
|
Capital protection Ratio |
Units |
0,36 |
0,36 |
0,46 |
0,65 |
|
Liabilities consolidation quotient |
Units |
0,36 |
0,60 |
0,30 |
0,12 |
|
Financing |
Units |
1,26 |
3,98 |
7,38 |
4,72 |
|
Permanent Indebtedness Ratio |
Units |
0,59 |
0,50 |
0,32 |
0,30 |
|
M/L term Debts Ratio |
Units |
0,15 |
0,30 |
0,20 |
0,07 |
|
Net Financial Indebtedness Ratio |
Units |
0,29 |
n.c. |
n.c. |
1,28 |
|
CORRELATION |
|
|
|
|
|
|
Fixed assets ratio |
Units |
0,98 |
1,24 |
1,19 |
2,06 |
|
Current ratio |
Units |
0,96 |
1,19 |
1,06 |
1,16 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
0,86 |
1,19 |
1,06 |
0,84 |
|
Structure's primary quotient |
Units |
0,73 |
0,50 |
0,44 |
1,28 |
|
Treasury's primary quotient |
Units |
0,05 |
0,29 |
0,07 |
0,03 |
|
Rate of indebtedness ( Leverage ) |
% |
226,30 |
503,06 |
854,65 |
591,61 |
|
Current Capital ( net ) |
Value |
-1.877 |
24.422 |
16.348 |
219.071 |
|
RETURN |
|
|
|
|
|
|
Return on Sales |
% |
5,55 |
4,18 |
0,11 |
2,22 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
10,86 |
5,33 |
-8,27 |
6,27 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
18,94 |
7,93 |
-3,28 |
15,95 |
|
Return on Investment ( R.O.I. ) |
% |
11,39 |
2,86 |
-1,33 |
4,19 |
|
Return/ Sales |
% |
6,46 |
2,29 |
-0,60 |
3,42 |
|
Extra Management revenues/charges incid. |
% |
42,14 |
37,08 |
n.c. |
29,26 |
|
Cash Flow |
Value |
12.625 |
13.295 |
987 |
61.669 |
|
Operating Profit |
Value |
14.676 |
7.300 |
-5.462 |
95.558 |
|
Gross Operating Margin |
Value |
21.117 |
17.888 |
-501 |
144.934 |
|
MANAGEMENT |
|
|
|
|
|
|
Credits to clients average term |
Days |
15,51 |
n.c. |
n.c. |
120,94 |
|
Debts to suppliers average term |
Days |
74,04 |
n.c. |
n.c. |
120,04 |
|
Average stock waiting period |
Days |
8,32 |
n.c. |
n.c. |
61,92 |
|
Rate of capital employed return ( Turnover
) |
Units |
1,76 |
1,25 |
2,22 |
1,27 |
|
Rate of stock return |
Units |
43,29 |
n.c. |
n.c. |
5,74 |
|
Labour cost incidence |
% |
2,02 |
5,09 |
6,78 |
7,77 |
|
Net financial revenues/ charges incidence |
% |
-0,03 |
-0,03 |
0,00 |
-1,26 |
|
Labour cost on purchasing expenses |
% |
1,96 |
4,96 |
6,62 |
7,90 |
|
Short-term financing charges |
% |
0,12 |
0,15 |
0,06 |
2,67 |
|
Capital on hand |
% |
56,68 |
80,22 |
45,04 |
78,39 |
|
Sales pro employee |
Value |
|
|
911.411 |
437.713 |
|
Labour cost pro employee |
Value |
|
|
61.762 |
33.928 |
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.54.84 |
|
|
1 |
Rs.88.16 |
|
Euro |
1 |
Rs.71.54 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.