|
Report Date : |
17.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
ISCO DESIGN S.R.L. |
|
|
|
|
Registered Office : |
Via Milano, 5, 21052-Busto Arsizio (VA) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
28.10.2010 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Wholesale of textiles, Fashion design and
industrial design activities |
|
|
|
|
No. of Employees : |
From 6 to 10 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
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
|
Isco Design S.r.l. |
|
Via |
Milano, |
5 |
|
21052 |
- Busto Arsizio |
(VA) |
-IT- |
|
Fiscal Code |
: |
03188560126 |
|
Legal Form |
: |
Limited liability company |
|
start of Activities |
: |
01/12/2010 |
|
Equity |
: |
Unknown. |
|
Turnover Range |
: |
2.250.000/3.000.000 |
|
Number of Employees |
: |
fom 6 to 10 |
|
Subject was born in order to carry out the
activities handed down by Isco srl |
|
(fiscal code 03000560122), run by the same
managers of the subject's. |
|
Isco Srl closed its 2009 accounts with a
turnover exceeding 2 mio Euro. |
Wholesale of textiles
Fashion design and industrial design
activities
Legal Form : Limited liability company
|
Fiscal Code : 03188560126 |
|
Chamber of Commerce no. : 330336 of since
03/11/2010 |
|
V.A.T. Code : 03188560126 |
|
Establishment date |
: 28/10/2010 |
|
|
Start of Activities |
: 01/12/2010 |
|
|
Legal duration |
: 31/12/2050 |
|
|
Nominal Capital |
: 100.000 |
|
|
Subscribed Capital |
: 100.000 |
|
|
Paid up Capital |
: 100.000 |
|
|
|
Prandoni |
Marco |
|
|
|
Born in Busto Arsizio |
(VA) |
on 30/09/1966 |
- Fiscal Code : PRNMRC66P30B300V |
|
|
|
Residence: |
|
Sei Febbraio |
, 2 |
- 20145 |
Milano |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
24/11/2010 |
|
|
|
Managing Director |
24/11/2010 |
|
|
|
|
Prejudicial Events found with cancellations* |
Ipoteca giudiziale
da decreto ingiuntivo - 31/10/2008. - 871.000 Euro. Cancellazione evento
|
|
BANCA NAZIONALE DEL LAVORO SPA |
Pignoramento
immobiliare - 04/10/2010. Cancellazione evento
|
|
BANCA NAZIONALE DEL LAVORO SPA |
|
|
No Protests registered |
|
|
Prandoni |
Alberto |
|
|
|
Born in Busto Arsizio |
(VA) |
on 28/09/1968 |
- Fiscal Code : PRNLRT68P28B300E |
|
|
|
Residence: |
|
San Giovanni Bosco |
, 14 |
- 21013 |
Gallarate |
(VA) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
24/11/2010 |
|
|
|
Managing Director |
24/11/2010 |
|
|
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Fortunati |
Angelo |
|
|
|
Born in Arona |
(NO) |
on 21/12/1969 |
- Fiscal Code : FRTNGL69T21A429Z |
|
|
|
Residence: |
|
Degli Orti |
, 1 |
- 21013 |
Gallarate |
(VA) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
24/11/2010 |
|
|
|
Managing Director |
24/11/2010 |
|
|
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Khan |
Rafeeq Ahmed Iftekhan |
|
|
|
Born in India |
( ) |
on 26/01/1962 |
- Fiscal Code : KHNRQH62A26Z222B |
|
|
|
Residence: |
|
Milano |
, 5 |
- 21052 |
Busto Arsizio |
(VA) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Board Chairman |
24/11/2010 |
|
|
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Khan |
Shafeeq Ahmed |
|
|
|
Born in India |
( ) |
on 01/04/1960 |
- Fiscal Code : KHNSFQ60D01Z222F |
|
|
|
Residence: |
|
Milano |
, 5 |
- 21052 |
Busto Arsizio |
(VA) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
24/11/2010 |
|
|
|
|
No Protests registered |
|
|
Khurana |
Davindersingh Gursharan |
|
|
|
Born in India |
( ) |
on 11/09/1958 |
- Fiscal Code : KHRDND58P11Z222B |
|
|
|
Residence: |
|
Milano |
, 5 |
- 21052 |
Busto Arsizio |
(VA) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
24/11/2010 |
|
|
|
|
No Protests registered |
*Concerns also partially erased events.
*checkings have been performed on a national scale.
In this module are listed the companies in which members hold or have
holded positions.
Prandoni
Marco
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
"Nemesis S.P.A." |
Solbiate Arno (VA) - IT - |
01692240128 |
Chairman |
Withdrawn |
Merged |
|
"Nemesis S.P.A." |
Solbiate Arno (VA) - IT - |
01692240128 |
Managing
Director |
Withdrawn |
Merged |
|
"TEXIDEA S.A.S. DI PRANDONI ALDO eamp; C." |
- - |
02245470121 |
Limited Partner |
Withdrawn |
Registered |
|
Uki Yo S.r.l. |
Gallarate (VA) - IT - |
12911740152 |
Director |
Active |
Registered |
|
Mac Spinner S.r.l. In Liquidazione |
Gallarate (VA) - IT - |
12980300151 |
Director |
Withdrawn |
Registered |
|
SUPER G TRAVELS SRL - IN LIQUIDAZIONE |
Novara (NO) - IT - |
01697530036 |
Technical
Manager |
Withdrawn |
Registered |
|
EXEDO S.R.L. |
- - |
13255510151 |
Director |
Withdrawn |
Registered |
|
"DUE IMMOBILIARE S.S. DI PRANDONI MARCOeamp; C." |
Busto Arsizio (VA) - IT - |
02244080129 |
Partner |
Withdrawn |
Registered |
|
Overland Immobiliare S.s. Di Boarolo Renato E C. |
Lendinara (RO) - IT - |
90013210126 |
Partner |
Withdrawn |
Registered |
|
One Trade Immobiliare S.s. Di Boarolo ReNato E C. |
Lendinara (RO) - IT - |
90013190120 |
Partner |
Withdrawn |
Registered |
|
Camal S.r.l. |
Busto Arsizio (VA) - IT - |
02919140125 |
Sole Director |
Active |
Registered |
|
Italian Style Company S.r.l. - In Liquidazione - In Concordato
Preventivo |
Busto Arsizio (VA) - IT - |
02721190128 |
Director |
Withdrawn |
In liquidation |
|
Italian Style Company S.r.l. - In Liquidazione - In Concordato
Preventivo |
Busto Arsizio (VA) - IT - |
02721190128 |
Judicial
liquidator |
- |
In liquidation |
|
Italian Style Company S.r.l. - In Liquidazione - In Concordato
Preventivo |
Busto Arsizio (VA) - IT - |
02721190128 |
Liquidator |
Active |
In liquidation |
|
Italian Style Company S.r.l. - In Liquidazione - In Concordato
Preventivo |
Busto Arsizio (VA) - IT - |
02721190128 |
Managing
Director |
Withdrawn |
In liquidation |
Prandoni Alberto
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
"Nemesis S.P.A." |
Solbiate Arno (VA) - IT - |
01692240128 |
Managing
Director |
Withdrawn |
Merged |
|
"Nemesis S.P.A." |
Solbiate Arno (VA) - IT - |
01692240128 |
Managing
Director |
Withdrawn |
Merged |
|
"SWAN TEXTILES S.R.L." |
Gallarate (VA) - IT - |
11353520155 |
Managing
Director |
Withdrawn |
Registered |
|
"TEXIDEA S.A.S. DI PRANDONI ALDO eamp; C." |
- - |
02245470121 |
Limited Partner |
Withdrawn |
Registered |
|
Uki Yo S.r.l. |
Gallarate (VA) - IT - |
12911740152 |
Director |
Active |
Registered |
|
Uki Yo S.r.l. |
Gallarate (VA) - IT - |
12911740152 |
Board Chairman |
Active |
Registered |
|
Mac Spinner S.r.l. In Liquidazione |
Gallarate (VA) - IT - |
12980300151 |
Director |
Withdrawn |
Registered |
|
Mac Spinner S.r.l. In Liquidazione |
Gallarate (VA) - IT - |
12980300151 |
Liquidator |
Active |
Registered |
|
Mac Spinner S.r.l. In Liquidazione |
Gallarate (VA) - IT - |
12980300151 |
Board Chairman |
Withdrawn |
Registered |
|
Overland Immobiliare S.s. Di Boarolo Renato E C. |
Lendinara (RO) - IT - |
90013210126 |
Partner |
Withdrawn |
Registered |
|
One Trade Immobiliare S.s. Di Boarolo ReNato E C. |
Lendinara (RO) - IT - |
90013190120 |
Partner |
Withdrawn |
Registered |
|
"ABE IMMOBILIARE S.S. DI NISOLLI CONCETTA eamp; C." |
Busto Arsizio (VA) - IT - |
90013220125 |
Partner |
Withdrawn |
Registered |
|
Camal S.r.l. |
Busto Arsizio (VA) - IT - |
02919140125 |
Sole Director |
Withdrawn |
Registered |
|
Italian Style Company S.r.l. - In Liquidazione - In Concordato
Preventivo |
Busto Arsizio (VA) - IT - |
02721190128 |
Director |
Withdrawn |
In liquidation |
|
Italian Style Company S.r.l. - In Liquidazione - In Concordato
Preventivo |
Busto Arsizio (VA) - IT - |
02721190128 |
Managing
Director |
Withdrawn |
In liquidation |
Fortunati Angelo
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Isco S.r.l. |
Busto Arsizio (VA) - IT - |
03000560122 |
Director |
Withdrawn |
Registered |
|
Isco S.r.l. |
Busto Arsizio (VA) - IT - |
03000560122 |
Managing
Director |
Withdrawn |
Registered |
|
Italian Style Company S.r.l. - In Liquidazione - In Concordato
Preventivo |
Busto Arsizio (VA) - IT - |
02721190128 |
Director |
Withdrawn |
In liquidation |
|
Italian Style Company S.r.l. - In Liquidazione - In Concordato
Preventivo |
Busto Arsizio (VA) - IT - |
02721190128 |
Managing
Director |
Withdrawn |
In liquidation |
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.
Shareholders' list as at date of data collection:
|
Firm's Style / Name |
Seat / Residence |
Fiscal Code |
Owned Shares |
% Ownership |
|
Busto Finanziaria s.r.l. In Liquidazione |
Busto Arsizio - IT - |
01518830128 |
47.500 .Eur |
47,50 |
|
Fortunati Angelo |
Gallarate - IT - |
FRTNGL69T21A429Z |
2.500 .Eur |
2,50 |
|
Synergy Fabrics Private Limited |
|
90040610124 |
50.000 .Eur |
50,00 |
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 |
|
|
Milano |
, 5 |
- 21052 |
- Busto Arsizio |
(VA) |
- IT - |
|
Employees |
: 9 |
|
Stocks for a value of 150.000 |
Eur |
EX-MEMBERS / EX-POSITIONS:
|
|
Prandoni |
Marco |
|
|
|
Born in Busto Arsizio |
(VA) |
on 30/09/1966 |
- Fiscal Code : PRNMRC66P30B300V |
|
|
|
Residence: |
|
Sei Febbraio |
, 2 |
- 20145 |
Milano |
(MI) |
- IT - |
|
Ex-Postions |
|
Sole Director |
CEASINGS/INCORPORATIONS/MERGES:
|
|
The subj. took over by rent the activities of |
|
|
|
Isco S.r.l. |
|
|
|
|
Milano |
, 5 |
, 21052 |
, Busto Arsizio |
(VA) |
- IT - |
|
|
|
Fiscal Code: 03000560122 |
|
|
|
Date |
: |
03/11/2010 |
Protests checking on the subject firm has given the following results:
|
|
|
ISCO DESIGN SRL (03188560126) |
MARSALA 29 |
- GALLARATE |
|
Protest Type |
Elevation Date |
Amount (in
Euros) |
Amount (in
Liras) |
Reason |
Elevation Officer |
|
Protested draft |
15/06/2012 |
17.402 |
33.694.971 |
|
|
|
|
|
ISCO DESIGN SRL (03188560126) |
MILANO 5 |
- BUSTO ARSIZIO |
|
Protest Type |
Elevation Date |
Amount (in
Euros) |
Amount (in
Liras) |
Reason |
Elevation Officer |
|
Protested draft |
05/11/2012 |
10.000 |
19.362.700 |
|
|
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.
The company has been active for some years.
The analysis is based on the b/s relating to year 2011.
It suffered a loss in 2011.
The operating result is negative (-142,86%).
the operating loss amounts to Eur. -703.222.
It has been registered a negative gross operating margin value of (Eur.
-583.080).
Short-term debts volume if compared to net worth, as it comes out from
the total indebtedness (not calculable)
The economic losses caused a negative shareholders equity.
Total debts (both at Short and M/L terms) amount to Eur. 1.176.022.
Liquidity is insufficient.
Cash flow is negative at the end of financial year 2011.
Labour cost expenses amount to Eur. 295.417 , representing 8,48% on the
total of production costs. , whereas 10,64% is the incidence on sales revenues.
Financial charges have a high incidence (-3,1%) on turnover figures.
The presence of detrimental items, apart from the financial-economic
analysis, makes the company not suitable for business transactions on credit
basis.
|
Complete balance-sheet for the year |
31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
2.777.195 |
|
Profit (Loss) for the period |
-870.453 |
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 31/12/2011 - 12 Mesi - Currency: - Amounts x 1
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
RATIOS |
Value Type |
as at 31/12/2011 |
Sector Average |
|
COMPOSITION ON
INVESTMENT |
|
|
|
|
Rigidity Ratio |
Units |
0,15 |
0,15 |
|
Elasticity Ratio |
Units |
0,80 |
0,82 |
|
Availability of stock |
Units |
0,31 |
0,12 |
|
Total Liquidity Ratio |
Units |
0,49 |
0,66 |
|
Quick Ratio |
Units |
0,01 |
0,04 |
|
COMPOSITION ON
SOURCE |
|
|
|
|
Net Short-term indebtedness |
Units |
n.c. |
2,83 |
|
Self Financing Ratio |
Units |
n.c. |
0,19 |
|
Capital protection Ratio |
Units |
n.c. |
0,34 |
|
Liabilities consolidation quotient |
Units |
0,02 |
0,13 |
|
Financing |
Units |
n.c. |
4,07 |
|
Permanent Indebtedness Ratio |
Units |
n.c. |
0,27 |
|
M/L term Debts Ratio |
Units |
0,06 |
0,10 |
|
Net Financial Indebtedness Ratio |
Units |
n.c. |
0,33 |
|
CORRELATION |
|
|
|
|
Fixed assets ratio |
Units |
n.c. |
1,52 |
|
Current ratio |
Units |
0,33 |
1,18 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
0,20 |
1,13 |
|
Structure's primary quotient |
Units |
n.c. |
1,04 |
|
Treasury's primary quotient |
Units |
0,00 |
0,07 |
|
Rate of indebtedness ( Leverage ) |
% |
n.c. |
522,60 |
|
Current Capital ( net ) |
Value |
-784.555 |
27.689 |
|
RETURN |
|
|
|
|
Return on Sales (R.O.S.) |
% |
-29,90 |
2,86 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
n.c. |
9,73 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
n.c. |
29,91 |
|
Return on Investment ( R.O.I. ) |
% |
-142,86 |
5,46 |
|
Return/ Sales |
% |
-25,32 |
4,87 |
|
Extra Management revenues/charges incid. |
% |
n.c. |
30,41 |
|
Cash Flow |
Value |
-830.311 |
28.458 |
|
Operating Profit |
Value |
-703.222 |
41.782 |
|
Gross Operating Margin |
Value |
-583.080 |
77.363 |
|
MANAGEMENT |
|
|
|
|
Credits to clients average term |
Days |
n.c. |
115,64 |
|
Debts to suppliers average term |
Days |
n.c. |
123,39 |
|
Average stock waiting period |
Days |
19,66 |
44,66 |
|
Rate of capital employed return ( Turnover ) |
Units |
5,64 |
1,33 |
|
Rate of stock return |
Units |
18,31 |
7,47 |
|
Labour cost incidence |
% |
10,64 |
17,21 |
|
Net financial revenues/charges incidence |
% |
-3,10 |
-0,98 |
|
Labour cost on purchasing expenses |
% |
8,48 |
18,79 |
|
Short-term financing charges |
% |
7,32 |
1,91 |
|
Capital on hand |
% |
17,72 |
74,95 |
|
Sales pro employee |
Value |
308.577 |
155.922 |
|
Labour cost pro employee |
Value |
32.824 |
33.452 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.77 |
|
|
1 |
Rs.83.31 |
|
Euro |
1 |
Rs.70.46 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIT |
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.