|
Report Date : |
20.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
ITALCA S.R.L. |
|
|
|
|
Registered Office : |
Via Vittorio Veneto, 36 22079 - Villa Guardia (CO) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
13.08.1985 |
|
|
|
|
Legal Form : |
Limited liability company |
|
|
|
|
Line of Business : |
Manufacture of outerwear |
|
|
|
|
No. of Employees : |
From 16 to 25 |
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 : |
Slow but correct |
|
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
ITALCA S.R.L.
Via Vittorio Veneto, 36 22079 - Villa Guardia (CO)-IT-
|
Fiscal Code |
: |
01551280132 |
|
Legal Form |
: |
Limited liability company |
|
start of Activities |
: |
13/08/1985 |
|
Equity |
: |
750.000 |
|
Turnover Range |
: |
6.500.000/7.750.000 |
|
Number of Employees |
: |
from 16 to 25 |
Manufacture of other outerwear
Legal Form : Limited liability company
|
Register of Handcraft firms : 65084 |
|
Register of Handcraft firms : 65084 of Como |
|
Register of Handcraft firms : 0065084 of Como since 04/11/1985 |
|
Fiscal Code : 01551280132 |
|
Foreign Trade Reg. no. : CO034678 since 29/10/1993 |
|
Chamber of Commerce no. : 198366 of Como since 11/09/1985 |
|
Firms' Register : CO075-19287 of Como since 19/02/1996 |
|
V.A.T. Code : 01551280132 |
|
Foundation date |
: 04/10/1985 |
|
|
Establishment date |
: 04/10/1985 |
|
|
Start of Activities |
: 13/08/1985 |
|
|
Legal duration |
: 31/12/2030 |
|
|
Nominal Capital |
: 100.000 |
|
|
Subscribed Capital |
: 100.000 |
|
|
Paid up Capital |
: 100.000 |
|
Cairoli |
Paolo |
|
Born in Como |
(CO) |
on 13/08/1963 |
- Fiscal Code : CRLPLA63M13C933S |
|
Residence: |
Caronti |
, 67 |
- 22020 |
Blevio |
(CO) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Managing Director |
15/10/2010 |
|
No Prejudicial events are reported |
|
No Protests registered |
|
Cairoli |
Luigi |
|
Born in Como |
(CO) |
on 18/07/1960 |
- Fiscal Code : CRLLGU60L18C933O |
|
Residence: |
Mentana |
, 32 |
- 22100 |
Como |
(CO) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Board Chairman |
31/12/2006 |
||
|
Managing Director |
15/10/2010 |
|
No Prejudicial events are reported |
|
No Protests registered |
*checkings have been performed on a national scale.
In this module are listed the companies in which members hold or have holded positions.
|
Cairoli |
Paolo |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Fratelli Colombo Di Dottor Alessandro Colombo E C. Societa' In Ac Comandita Semp |
Como (CO) - IT - |
00226800134 |
Limited Partner |
- |
Bankrupt |
|
Castagna S.p.a. In Liquidazione |
Albavilla (CO) - IT - |
00190290130 |
Liquidator |
Active |
Registered |
|
Castagna S.p.a. In Liquidazione |
Albavilla (CO) - IT - |
00190290130 |
Managing Director |
Withdrawn |
Registered |
|
Atomtex Foulards S.r.l. |
Lurate Caccivio (CO) - IT - |
04916120159 |
Director |
Active |
Registered |
|
Tintea S.p.a. |
Villa Guardia (CO) - IT - |
00369420138 |
Managing Director |
Withdrawn |
Registered |
|
Tintea S.p.a. |
Villa Guardia (CO) - IT - |
00369420138 |
Director |
Active |
Registered |
|
Tintea S.p.a. |
Villa Guardia (CO) - IT - |
00369420138 |
Managing Director |
Active |
Registered |
|
Selecta Como S.p.a. |
Lurate Caccivio (CO) - IT - |
01896800131 |
Sole Director |
Withdrawn |
Registered |
|
Selecta Como S.p.a. |
Lurate Caccivio (CO) - IT - |
01896800131 |
Managing Director |
Active |
Registered |
|
Selecta Como S.p.a. |
Lurate Caccivio (CO) - IT - |
01896800131 |
Board Chairman |
Active |
Registered |
|
Algor S.r.l. - In Liquidazione |
Malnate (VA) - IT - |
02247180124 |
Sole Director |
Withdrawn |
Registered |
|
Algor S.r.l. - In Liquidazione |
Malnate (VA) - IT - |
02247180124 |
Liquidator |
Withdrawn |
Registered |
|
Bliss S.r.l. |
Lurate Caccivio (CO) - IT - |
03353630134 |
Board Chairman |
Active |
Registered |
|
Cairoli |
Luigi |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Fratelli Colombo Di Dottor Alessandro Colombo E C. Societa' In Ac Comandita Semp |
Como (CO) - IT - |
00226800134 |
Limited Partner |
- |
Bankrupt |
|
Caresani S.r.l. In Liquidazione |
Villa Guardia (CO) - IT - |
02263720134 |
Liquidator |
Withdrawn |
Ceased |
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 |
|
Cairoli Paolo |
Blevio - IT - |
CRLPLA63M13C933S |
50.000 .Eur |
50,00 |
|
Cairoli Luigi |
Como - IT - |
CRLLGU60L18C933O |
50.000 .Eur |
50,00 |
The Company under review has participations in the following Companies:
|
Firm's Style |
Seat |
Fiscal Code |
Owned Shares Amount |
% Ownership |
since |
until |
Share Status |
|
Atomtex Foulards S.r.l. |
Lurate Caccivio - IT - |
04916120159 |
12.623 .Eur |
25,00 |
Active |
In order to carry out its activities the firm uses the following locations:
|
- |
Legal and operative seat |
|
Vittorio Veneto |
, 36 |
- 22079 |
- Villa Guardia |
(CO) |
- IT - |
|
PHONE |
: 031563101 |
|
- |
Branch |
(Shop) |
since 05/10/2000 |
|
Vittorio Veneto |
, 36 |
- 22079 |
- Villa Guardia |
(CO) |
- IT - |
|
Total Surface: 67 Sq.mt. |
|
Employees |
: 18 |
|
Fittings and Equipment for a value of 80.000 |
Eur |
|
Stocks for a value of 1.020.000 |
Eur |
CHANGES TO THE LEGAL FORM:
|
Former legal form |
New legal form |
Changement Date |
|
General partnership |
Limited liability company |
27/12/2006 |
COMPANY STYLE MODIFICATIONS:
|
Former Style |
New Style |
Changement Date |
|
ITALCA DI CAIROLI LUIGI eamp; C. - S.N.C. |
ITALCA S.R.L. |
27/12/2006 |
EX-MEMBERS / EX-POSITIONS:
|
Cairoli |
Paolo |
|
Born in Como |
(CO) |
on 13/08/1963 |
- Fiscal Code : CRLPLA63M13C933S |
|
Residence: |
Caronti |
, 67 |
- 22020 |
Blevio |
(CO) |
- IT - |
|
Ex-Postions |
|
Partner |
|
Director |
|
Cairoli |
Luigi |
|
Born in Como |
(CO) |
on 18/07/1960 |
- Fiscal Code : CRLLGU60L18C933O |
|
Residence: |
Mentana |
, 32 |
- 22100 |
Como |
(CO) |
- IT - |
|
Ex-Postions |
|
Partner |
|
Cairoli |
Paolo |
|
Born in COMO |
(CO) |
on 13/09/1963 |
- Fiscal Code : CRLPLA63M13C933S |
|
Residence: |
MENTANA |
, 32 |
- 22100 |
Como |
(CO) |
- IT - |
|
Ex-Postions |
|
Partner |
|
Colombo |
Adriana |
|
Born in Como |
(CO) |
on 03/11/1936 |
- Fiscal Code : CLMDRN36S43C933X |
|
Fiscal residence: |
Mentana |
, 32 |
- 22100 |
Como |
(CO) |
- IT - |
|
Ex-Postions |
|
Partner |
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.
Company's starting of activities dates back to 1985.
The eonomic-financial analysis is based on the latest 3 b/s.
Unstable economic results mark the company's financial state of affairs. with a negative economic result in the last financial year. Business volume is falling in the last financial year.
The operating result in 2012 was positive (1,01%) and reflects the field's average.
The operating result is positive and amounts to Eur. 29.237 showing a fall as opposed to the previous year (-83,51%).
During the latest financial year the gross operating margin amounted to Eur. 46.515 recording a -76,24% decrease.
The financial status of the company is fairly balanced with an indebtedness level of 3,01 yet on the increase as against the previous accounting period.
The equity capital is equal to Eur. 584.112 with a -36,71% fall.
Total indebtedness was equal to Eur. 2.084.112 (Eur. 1.440 was the value of m/l term debts) on the same levels as the year before.
Financial debts exposure is under control while the recourse to commercial credit is rather frequent however still within the sector's average.
It shows a good range of liquidity.
Accounts receivable average term is 53,79 days. , a better value than the sector's average.
(Eur. -323.503) is the negative value of the cash flow.
Labour cost amounts to Eur. 645.002, with a 8,42% incidence on production costs. , whereas the incidence of such costs on sales revenues is equal to 8,4%.
The financial charges do not negatively affect the management, as they are covered by the incomes.
|
Complete balance-sheet for the year |
31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
7.680.898 |
|
Profit (Loss) for the period |
-338.922 |
|
Complete balance-sheet for the year |
31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
9.343.030 |
|
Profit (Loss) for the period |
115.940 |
|
Complete balance-sheet for the year |
31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
9.610.721 |
|
Profit (Loss) for the period |
222.175 |
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 |
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
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 |
0,08 |
0,19 |
0,14 |
0,14 |
|
Elasticity Ratio |
Units |
0,89 |
0,79 |
0,84 |
0,84 |
|
Availability of stock |
Units |
0,35 |
0,25 |
0,18 |
0,24 |
|
Total Liquidity Ratio |
Units |
0,54 |
0,54 |
0,67 |
0,53 |
|
Quick Ratio |
Units |
0,11 |
0,03 |
0,04 |
0,03 |
|
COMPOSITION ON SOURCE |
|||||
|
Net Short-term indebtedness |
Units |
3,01 |
2,34 |
3,85 |
3,78 |
|
Self Financing Ratio |
Units |
0,20 |
0,27 |
0,19 |
0,17 |
|
Capital protection Ratio |
Units |
1,41 |
0,77 |
0,60 |
0,66 |
|
Liabilities consolidation quotient |
Units |
0,11 |
0,08 |
0,04 |
0,14 |
|
Financing |
Units |
3,57 |
2,44 |
4,05 |
4,55 |
|
Permanent Indebtedness Ratio |
Units |
0,28 |
0,33 |
0,22 |
0,33 |
|
M/L term Debts Ratio |
Units |
0,08 |
0,05 |
0,03 |
0,09 |
|
Net Financial Indebtedness Ratio |
Units |
0,00 |
0,00 |
0,46 |
1,26 |
|
CORRELATION |
|||||
|
Fixed assets ratio |
Units |
3,31 |
1,75 |
1,58 |
1,87 |
|
Current ratio |
Units |
1,24 |
1,19 |
1,09 |
1,17 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
0,75 |
0,81 |
0,86 |
0,79 |
|
Structure's primary quotient |
Units |
2,41 |
1,47 |
1,34 |
1,13 |
|
Treasury's primary quotient |
Units |
0,16 |
0,04 |
0,05 |
0,04 |
|
Rate of indebtedness ( Leverage ) |
% |
494,19 |
364,25 |
526,25 |
587,75 |
|
Current Capital ( net ) |
Value |
494.928 |
424.977 |
309.846 |
209.248 |
|
RETURN |
|||||
|
Return on Sales |
% |
-4,21 |
1,44 |
2,89 |
2,26 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
-58,02 |
12,56 |
27,53 |
3,48 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
-53,26 |
21,89 |
47,07 |
12,19 |
|
Return on Investment ( R.O.I. ) |
% |
1,01 |
5,28 |
8,25 |
3,83 |
|
Return/ Sales |
% |
0,38 |
1,90 |
3,65 |
3,45 |
|
Extra Management revenues/charges incid. |
% |
-1159,22 |
65,36 |
63,41 |
20,46 |
|
Cash Flow |
Value |
-323.503 |
134.375 |
277.799 |
50.400 |
|
Operating Profit |
Value |
29.237 |
177.399 |
350.369 |
68.610 |
|
Gross Operating Margin |
Value |
46.515 |
195.834 |
405.993 |
124.742 |
|
MANAGEMENT |
|||||
|
Credits to clients average term |
Days |
53,79 |
59,33 |
93,35 |
120,68 |
|
Debts to suppliers average term |
Days |
100,84 |
85,74 |
103,81 |
115,81 |
|
Average stock waiting period |
Days |
47,79 |
32,87 |
28,15 |
78,40 |
|
Rate of capital employed return ( Turnover ) |
Units |
2,66 |
2,78 |
2,26 |
1,14 |
|
Rate of stock return |
Units |
7,53 |
10,95 |
12,79 |
4,57 |
|
Labour cost incidence |
% |
8,40 |
6,50 |
6,14 |
12,27 |
|
Net financial revenues/ charges incidence |
% |
0,36 |
0,26 |
0,11 |
-1,84 |
|
Labour cost on purchasing expenses |
% |
8,42 |
6,63 |
6,27 |
12,16 |
|
Short-term financing charges |
% |
2,32 |
2,28 |
2,76 |
3,35 |
|
Capital on hand |
% |
37,58 |
35,99 |
44,19 |
87,41 |
|
Sales pro employee |
Value |
426.716 |
467.151 |
480.536 |
245.343 |
|
Labour cost pro employee |
Value |
35.833 |
30.342 |
29.508 |
32.046 |
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.
The values are calculated on a base of 864 significant companies.
The companies cash their credits on an average of 121 dd.
The average duration of suppliers debts is about 116 dd.
The sector's profitability is on an average of 2,26%.
The labour cost affects the turnover in the measure of 12,27%.
Goods are held in stock in a range of 78 dd.
The difference between the sales volume and the resources used to realize it is about 1,14.
The employees costs represent the 12,16% of the production costs.
Statistically the trade activity passes through serious crises.
The area is statistically considered moderately risky.
In the region 50.886 protested subjects are found; in the province they count to 3.842.
The insolvency index for the region is 0,55, , while for the province it is 0,70.
Total Bankrupt companies in the province : 2.010.
Total Bankrupt companies in the region : 39.612.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.23 |
|
|
1 |
Rs.100.18 |
|
Euro |
1 |
Rs.84.06 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIS |
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.