MIRA INFORM REPORT

Report Date :

08.10.2013

IDENTIFICATION DETAILS

Name :	_{FIL - 3 - S.R.L}

Registered Office :	Via Antonio Labriola 227, 59013 Montemurlo PO

Country :	Italy

Financials (as on) :	2012

Date of Incorporation :	Not Available

Com. Reg. No.:	PO366754

Legal Form :	Limited Liability Company

Line of Business :	Subject is engaged in preparation and spinning of textile fibres.

No. of Employees :	09

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory
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 – March 31^st, 2013

Country Name

Previous Rating

(31.12.2012)

Current Rating

(31.03.2013)

Italy

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

Company name

_{FIL - 3 - S.R.L.}

Company Summary

Company Name FIL - 3 - S.R.L. Company Registration PO366754 Number
Country IT
Activity Code 131 Activity Description Preparation and spinning of textile fibres
Company Status Active Latest Turnover 5,542,485.00 (EUR)
Latest Shareholders Equity 3,030,901.00 (EUR)

Company Identification

Activities

Activity Code 131

Activity Description Preparation and spinning of textile fibres

Basic Information

Company Name FIL - 3 - S.R.L.

Registered Company Name FIL - 3 - S.R.L.

Company Registration Number PO366754

Country IT

VAT Registration Number 00305990970

Legal Form LIMITED LIABILITY COMPANY

Company Status Active

Principal Activity Code 131

Principal Activity Description Preparation and spinning of textile fibres

Contact Address VIA ANTONIO LABRIOLA 227, 59013 MONTEMURLO PO

Contact Telephone Number /0574652911

Main Address

Address VIA ANTONIO LABRIOLA 227, 59013 MONTEMURLO PO

Telephone /0574652911

Email Addresses

FIL3@PEC.IT

Current Directors Managers

Name RODOLFO MAGNOLFI

Address VIA ALTA 9, 59013 MONTEMURLO PO

Gender Male

Date of Birth 18/09/1938

Position CHAIRMAN OF THE BOARD OF DIRECTORS

Date Appointed 19/02/2010

Name GIACINTO GELLI

Address VIA GAROSI 56, 59100 PRATO PO

Gender Male

Date of Birth 22/08/1965

Position MANAGING DIRECTOR

Date Appointed 19/02/2010

Share Capital Structure

Issued Share capital 96,000.00 (EUR)

Name RICCARDO MAGNOLFI

Address VIA LISCHETO 21, PT

Name ROSELLA MAGNOLFI

Address VIA CEFALONIA 10/A, 59100 PO

Name BEATRICE GEMMA MARIA GELLI

Address VIA ROMITA 384, 50025 FI

Name GIACINTO GELLI

Address VIA GAROSI 56, 59100 PO

Name ELISABETTA BRUNI

Address VIA GAROSI 56, 59100 PO

Employee Information

Year

Number of Employees 9

Financial Statements

Profit & Loss

Financial Year 2012 2011

Number of Weeks 0 0

Currency EUR EUR

BALANCE SHEET

Financial Year 2012 2011

Number of Weeks 0 0

Currency EUR EUR

Consolidated Accounts False False

Land & Buildings 381,920.00 395,360.00

Plant & Machinery 46,301.00 39,868.00

Other Tangible Assets 43,823.00 48,854.00

Total Tangible Assets 472,044.00 484,082.00

Goodwill 0.00 0.00

Other Intangible Assets 0.00 15,344.00

Total Intangible Assets 0.00 15,344.00

Investments 206,546.00 206,546.00

Loans to Group 0.00 0.00

Other Loans 0.00 0.00

Miscellaneous Fixed Assets 0.00 0.00

Total Other Fixed Assets 206,546.00 206,546.00

Total Fixed Assets 678,590.00 705,972.00

Raw Materials 618,202.00 652,808.00

Work in Progress 13,095.00 13,148.00

Finished Goods 2,384,152.00 2,353,485.00

Other Inventories 0.00 0.00

Total Inventories 3,015,449.00 3,019,441.00

Trade Receivables 1,059,182.00 1,361,320.00

Group Receivables 0.00 0.00

Receivables Due after 1 year 0.00 0.00

Miscellaneous Receivables 255,374.00 274,723.00

Total Receivables 1,314,556.00 1,636,043.00

Cash 39,331.00 118,798.00

Other Current Assets 4,721.00 3,422.00

Total Current Assets 4,374,057.00 4,777,704.00

Total Assets 5,052,647.00 5,483,676.00

Trade Payables 497,520.00 563,360.00

Bank Liabilities 646,880.00 972,633.00

Other Loans/Finance 0.00 0.00

Group Payables 0.00 0.00

Miscellaneous Liabilities 194,475.00 194,200.00

Total Current Liabilities 1,338,875.00 1,730,193.00

Trade Payables due after 1 year 0.00 0.00

Bank Liabilities due after 1 year 276,952.00 306,011.00

Other Loans/Finance due after

1 year 0.00 0.00

Group Payables due after 1 year

Miscellaneous Liabilities due

after 1 year 405,919.00 417,463.00

Total Long Term Liabilities	682,871.00	723,474.00
Total Liabilities	2,021,746.00	2,453,667.00
Called Up Share Capital	96,000.00	96,000.00
Share Premium	0.00	0.00
Revenue Reserves	891.00	2,760.00
Other Reserves	2,934,010.00	2,931,249.00
Total Shareholders Equity	3,030,901.00	3,030,009.00
Other Financials
Contingent Liabilities	0	0
Working Capital	3,035,182.00	3,047,511.00
Net Worth	3,030,901.00	3,014,665.00

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.78
UK Pound	1	Rs.99.06
Euro	1	Rs.83.84

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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.