MIRA
INFORM REPORT
|
Report Date : |
15.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
DOCTOR RESIN E CHEMICALS S.R.L. |
|
|
|
|
Registered Office : |
Viale Della Pace, 40 19038 – Sarzana
(SP |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
08.01.2009 |
|
|
|
|
Legal Form : |
Limited liability company |
|
|
|
|
Line of Business : |
Recovery and preparation for recycling of plastic for the production
of plastic plastic materials, synthetic resins |
|
|
|
|
No. of Employees : |
fom 6 to 10 |
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 |
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|
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Payment Behaviour : |
Unknown |
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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 |
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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 and address
DOCTOR RESIN E CHEMICALS S.R.L.
Viale Della Pace, 40
19038 – Sarzana (SP
Italy
Summary
|
Fiscal Code |
: |
01269290118 |
|
Legal Form |
: |
Limited liability company |
|
start of Activities |
: |
08/01/2009 |
|
Equity |
: |
400.000 |
|
Turnover Range |
: |
3.000.000/3.750.000 |
|
Number of Employees |
: |
fom 6 to 10 |
Activity
Recovery and preparation for recycling of plastic for the production of
plastic plastic materials, synthetic resins
Legal Data
Legal Form : Limited liability company
|
Fiscal Code : 01269290118 |
|
Chamber of Commerce no. : 114662 of La Spezia since 30/01/2008 |
|
V.A.T. Code : 01269290118 |
|
Establishment date |
: 18/01/2008 |
|
|
Start of Activities |
: 08/01/2009 |
|
|
Legal duration |
: 31/12/2050 |
|
|
Nominal Capital |
: 100.000 |
|
|
Subscribed Capital |
: 100.000 |
|
|
Paid up Capital |
: 100.000 |
Members
|
|
La Porta |
Costantino |
|
|
Born in Germania Repubblica Federale |
( ) |
on 30/10/1953 |
- Fiscal Code : LPRCTN53R30Z112L |
|
|
Residence: |
Braccioli |
, 9 |
- 19034 |
Ortonovo |
(SP) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Sole Director |
18/01/2008 |
|
|
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.
|
|
La Porta |
Costantino |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
LUNA ABRASIV DI PAPINI SERGIO eamp; LA PORTACOSTANTINO - S.N.C. |
Ortonovo (SP) - IT - |
00703100115 |
Partner |
Withdrawn |
Merged |
|
LUNA ABRASIV DI PAPINI SERGIO eamp; LA PORTACOSTANTINO - S.N.C. |
Ortonovo (SP) - IT - |
00703100115 |
Partner |
Withdrawn |
Merged |
|
Luna Diamond S.R.L. |
Sarzana (SP) - IT - |
00958500118 |
Director |
Withdrawn |
Merged |
|
Immobiliare Luna Srl |
Vezzano Ligure (SP) - IT - |
01040090118 |
Director |
Withdrawn |
Registered |
|
Immobiliare Luna Srl |
Vezzano Ligure (SP) - IT - |
01040090118 |
Board Chairman |
Active |
Registered |
|
Luna Abrasivi Srl |
Vezzano Ligure (SP) - IT - |
00314020116 |
Director |
Withdrawn |
Registered |
|
LUNA INV - S.R.L. |
Sarzana (SP) - IT - |
00916180110 |
Vice-Chairman |
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 |
|
La Porta Costantino |
Ortonovo - IT - |
LPRCTN53R30Z112L |
70.000 .Eur |
70,00 |
|
Gemetti Giulia |
Ortonovo - IT - |
GMTGLI59P67B832F |
30.000 .Eur |
30,00 |
Direct Participations
The Company under review has no participations in other Companies.
Firm's location and structure
In order to carry out its activities the firm uses the following
locations:
|
- |
Legal and operative seat |
|
Della Pace |
, 40 |
- 19038 |
- Sarzana |
(SP) |
- IT - |
|
PHONE |
: 0187986821 |
|
FAX |
: 0187954407 |
|
Email |
: info@doctor-resin.com |
|
- |
Branch |
since 19/01/2009 |
|
Xxv Aprile |
, 87 |
- 19021 |
- Arcola |
(SP) |
- IT - |
|
Employees |
: 6 |
|
Stocks for a value of 480.000 |
Eur |
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
The company has been active for some years.
An eco-fin analysis has been made on the base od the b/s fo the years
2010, 2011 and 2012.
In the economic management , good and bad results followed on by turns.
anyway in 2012 a positive result was achieved (r.o.e. 37,49%). Upward trend as
to the turnover in the last financial year (+15,61%).
The operating result in 2012 was positive (4,75%) falling within the
field's average.
An operating result of Eur. 210.541 has been registered. with a more
then 100% growth.
The G.O.M. amounted to Eur. 365.141 growing by more then 100% if
compared to the year before.
Financial condition is not balanced as own capitals do not cover debts,
indebtedness level is in fact high (10,62) which tends upward.
The equity capital is equal to Eur. 301.724 , with an upward trend.
During the last financial year total debts volume reached Eur. 4.083.828
(Eur. 558.124 were m/l term ones) on the same levels as the year before.
As far as financial debts are concerned the rate is high; the average
payments' period is slighlty high however still within the sector's average.
It shows a not very good liquidity level.
Accounts receivable average term is high (194,96 days). even higher than
the average of the specific sector.
2012 financial year closed with a cash flow of Eur. 267.728
In the last financial year labour cost was of Eur. 259.975, with a 8,28%
incidence on total costs of production. , whereas 7,79% is the incidence on
sales revenues.
Finacial chareges are high: the incidence on sales volume amounts to
-1,64%
Financial Data
|
|
Complete balance-sheet for the year |
31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
3.338.273 |
|
Profit (Loss) for the period |
113.128 |
|
|
Complete balance-sheet for the year |
31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
2.887.397 |
|
Profit (Loss) for the period |
41.661 |
|
|
Complete balance-sheet for the year |
31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
1.900.126 |
|
Profit (Loss) for the period |
-255.476 |
|
|
Complete balance-sheet for the year |
31/12/2009 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
159.381 |
|
Profit (Loss) for the period |
-360.701 |
|
|
Complete balance-sheet for the year |
31/12/2008 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Profit (Loss) for the period |
-17.826 |
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 31/12/2012 - 12 Mesi - Currency: - Amounts x 1 |
|
- 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 31/12/2012 |
as at 31/12/2011 |
as at 31/12/2010 |
Sector Average |
|
COMPOSITION ON INVESTMENT |
|||||
|
Rigidity Ratio |
Units |
0,28 |
0,33 |
0,44 |
0,32 |
|
Elasticity Ratio |
Units |
0,71 |
0,66 |
0,53 |
0,66 |
|
Availability of stock |
Units |
0,11 |
0,15 |
0,14 |
0,05 |
|
Total Liquidity Ratio |
Units |
0,60 |
0,51 |
0,40 |
0,56 |
|
Quick Ratio |
Units |
0,07 |
0,04 |
0,04 |
0,02 |
|
COMPOSITION ON SOURCE |
|||||
|
Net Short-term indebtedness |
Units |
10,62 |
3,69 |
3,28 |
3,02 |
|
Self Financing Ratio |
Units |
0,07 |
0,05 |
0,04 |
0,20 |
|
Capital protection Ratio |
Units |
0,29 |
0,25 |
2,06 |
0,60 |
|
Liabilities consolidation quotient |
Units |
0,17 |
3,58 |
4,20 |
0,19 |
|
Financing |
Units |
13,53 |
21,02 |
21,61 |
3,78 |
|
Permanent Indebtedness Ratio |
Units |
0,20 |
0,79 |
0,82 |
0,36 |
|
M/L term Debts Ratio |
Units |
0,14 |
0,75 |
0,77 |
0,13 |
|
Net Financial Indebtedness Ratio |
Units |
9,61 |
16,84 |
17,85 |
1,23 |
|
CORRELATION |
|||||
|
Fixed assets ratio |
Units |
0,73 |
2,40 |
1,85 |
1,08 |
|
Current ratio |
Units |
0,90 |
3,14 |
2,90 |
1,08 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
0,76 |
2,43 |
2,15 |
0,91 |
|
Structure's primary quotient |
Units |
0,25 |
0,14 |
0,10 |
0,61 |
|
Treasury's primary quotient |
Units |
0,09 |
0,20 |
0,22 |
0,03 |
|
Rate of indebtedness ( Leverage ) |
% |
1468,21 |
2215,83 |
2272,57 |
501,43 |
|
Current Capital ( net ) |
Value |
-369.978 |
1.858.487 |
1.161.913 |
124.364 |
|
RETURN |
|||||
|
Return on Sales |
% |
8,02 |
4,77 |
-4,78 |
4,83 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
37,49 |
22,20 |
-174,99 |
5,29 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
51,55 |
13,54 |
-174,99 |
16,75 |
|
Return on Investment ( R.O.I. ) |
% |
4,75 |
1,57 |
-6,95 |
4,40 |
|
Return/ Sales |
% |
6,31 |
2,26 |
-12,14 |
3,91 |
|
Extra Management revenues/charges incid. |
% |
53,73 |
63,94 |
n.c. |
29,83 |
|
Cash Flow |
Value |
267.728 |
137.851 |
-90.887 |
324.954 |
|
Operating Profit |
Value |
210.541 |
65.156 |
-230.654 |
238.307 |
|
Gross Operating Margin |
Value |
365.141 |
161.346 |
-66.065 |
536.619 |
|
MANAGEMENT |
|||||
|
Credits to clients average term |
Days |
194,96 |
191,94 |
183,20 |
124,35 |
|
Debts to suppliers average term |
Days |
113,98 |
75,46 |
73,14 |
125,23 |
|
Average stock waiting period |
Days |
51,72 |
77,47 |
86,87 |
13,40 |
|
Rate of capital employed return ( Turnover ) |
Units |
0,75 |
0,69 |
0,57 |
1,17 |
|
Rate of stock return |
Units |
6,96 |
4,65 |
4,14 |
26,56 |
|
Labour cost incidence |
% |
7,79 |
10,81 |
18,00 |
16,40 |
|
Net financial revenues/ charges incidence |
% |
-1,64 |
-1,38 |
-1,31 |
-1,32 |
|
Labour cost on purchasing expenses |
% |
8,28 |
10,79 |
15,31 |
16,83 |
|
Short-term financing charges |
% |
1,37 |
1,19 |
1,12 |
2,89 |
|
Capital on hand |
% |
132,70 |
144,01 |
174,62 |
84,95 |
|
Sales pro employee |
Value |
417.284 |
320.821 |
190.012 |
207.518 |
|
Labour cost pro employee |
Value |
32.496 |
34.678 |
34.210 |
33.676 |
Market / Territory Data
|
Population living in the province |
: |
|
|
Population living in the region |
: |
|
|
Number of families in the region |
: |
|
Monthly family expences average in the region (in Eur..) :
|
- per food products |
: |
|
|
- per non food products |
: |
|
|
- per energy consume |
: |
|
Sector Data
The values are calculated on a base of 403 significant companies.
The companies cash their credits on an average of 124 dd.
The average duration of suppliers debts is about 125 dd.
The sector's profitability is on an average of 4,83%.
The labour cost affects the turnover in the measure of 16,40%.
Goods are held in stock in a range of 13 dd.
The difference between the sales volume and the resources used to
realize it is about 1,17.
The employees costs represent the 16,83% of the production costs.
Statistical Detrimental Data
Statistcally the trade activity shows periods of crisis.
The area is statistically considered moderately risky.
In the region 7.546 protested subjects are found; in the province they
count to 989.
The insolvency index for the region is 0,48, , while for the province it
is 0,45.
Total Bankrupt companies in the province : 1.227.
Total Bankrupt companies in the region : 7.305.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.06 |
|
|
1 |
Rs.101.15 |
|
Euro |
1 |
Rs.84.95 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.