|
Report Date : |
08.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
MENCHI TESSUTI S.P.A. |
|
|
|
|
Registered Office : |
Via Traversa Il Crocifisso 24/B, 59100 Prato Po |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
2012 |
|
|
|
|
Date of Incorporation : |
Not Available |
|
|
|
|
Com. Reg. No.: |
PO460591 |
|
|
|
|
Legal Form : |
Joint-Stock Company |
|
|
|
|
Line of Business : |
Weaving of textiles |
|
|
|
|
No. of Employees : |
31 |
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 |
Company Name MENCHI
TESSUTI S.P.A.
Company Registration Number PO460591
Country IT
Activity Code 132
Activity Description Weaving
of textiles
Company Status Active
Latest Turnover 23,958,753.00
(EUR)
Latest Shareholders Equity
2,678,095.00 (EUR)
Profit
Before Tax 504,254.00
(EUR)
Activities
Activity Code 132
Activity Description Weaving
of textiles
Basic Information
Company Name MENCHI
TESSUTI S.P.A.
Registered Company Name MENCHI
TESSUTI S.P.A.
Date of Starting Operations Not Available
Company Registration Number PO460591
Country IT
VAT Registration Number 01673940977
Legal Form JOINT-STOCK
COMPANY
Company Status Active
Principal Activity Code 132
Principal Activity Description Weaving of textiles
Contact Address VIA
TRAVERSA IL CROCIFISSO 24/B,
59100
PRATO PO
Contact Telephone Number /0574625417
Address VIA
TRAVERSA IL CROCIFISSO 24/B, 59100 PRATO PO
Telephone /0574625417
Email Addresses MENCHITESSUTI@PEC.STARTIT.IT
Name MASSIMO
MENCHI MARTELLI
Address VIA
VALDONA 3, 59100 PRATO PO
Gender Male
Date of Birth 29/10/1965
Position SOLE
DIRECTOR
Date Appointed 30/08/2012
Issued Share capital 1,020,000.00
(EUR)
Name GIOVANNI
SANTINO MENCHI
Name MASSIMO
MENCHI MARTELLI
Year
Number of Employees 31
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
2,161,325.00 2,204,573.00
Plant & Machinery
16,264.00 23,841.00
Other Tangible Assets 113,918.00 117,430.00
Total Tangible Assets 2,291,507.00 2,345,844.00
Goodwill 0.00 0.00
Other Intangible Assets 147,433.00 59,096.00
Total Intangible Assets 147,433.00 59,096.00
Investments 69,313.00 68,809.00
Loans to Group 0.00 0.00
Other Loans 436.00 436.00
Miscellaneous
Fixed Assets 0.00 0.00
Total Other Fixed Assets 69,749.00 69,245.00
Total Fixed Assets 2,508,689.00 2,474,185.00
Raw Materials
1,519,193.00 728,593.00
Work in Progress
4,342,969.00 4,517,522.00
Finished Goods 1,088,132.00 2,303,386.00
Other Inventories 0.00 0.00
Total Inventories
6,950,294.00 7,549,501.00
|
Trade Receivables |
4,115,861.00 |
3,633,751.00 |
|
Group Receivables |
0.00 |
0.00 |
|
Receivables Due after 1 year |
38,051.00 |
0.00 |
|
Miscellaneous Receivables |
982,169.00 |
463,315.00 |
|
Total Receivables |
5,136,081.00 |
4,097,066.00 |
|
Cash |
349,981.00 |
1,067,711.00 |
|
Other Current Assets |
148,458.00 |
83,018.00 |
|
Total Current Assets |
12,584,814.00 |
12,797,296.00 |
|
Total Assets |
15,093,503.00 |
15,271,481.00 |
|
Trade Payables |
4,585,355.00 |
5,409,266.00 |
|
Bank Liabilities |
4,574,959.00 |
3,517,224.00 |
|
Other Loans/Finance |
0.00 |
0.00 |
|
Group Payables |
0.00 |
0.00 |
|
Miscellaneous Liabilities |
718,013.00 |
686,153.00 |
|
Total Current Liabilities |
9,878,327.00 |
9,612,643.00 |
|
Trade Payables due after 1 year |
0.00 |
0.00 |
|
Bank Liabilities due after 1 year |
1,806,108.00 |
2,725,960.00 |
|
Other Loans/Finance due after 1 year |
0.00 |
0.00 |
|
Group Payables due after 1 year |
0.00 |
0.00 |
|
Miscellaneous Liabilities due after 1 year |
730,973.00 |
514,291.00 |
|
Total Long Term Liabilities |
2,537,081.00 |
3,240,251.00 |
|
Total Liabilities |
12,415,408.00 |
12,852,894.00 |
|
Called Up Share Capital |
1,020,000.00 |
1,020,000.00 |
|
Share Premium |
0.00 |
0.00 |
|
Revenue Reserves |
259,506.00 |
62,667.00 |
|
Other Reserves |
1,398,589.00 |
1,335,920.00 |
|
Total Shareholders
Equity |
2,678,095.00 |
2,418,587.00 |
|
Other Financials |
|
|
|
Contingent Liabilities |
250000 |
673258 |
|
Working Capital |
2,668,436.00 |
3,184,653.00 |
|
Net Worth |
2,530,662.00 |
2,359,491.00 |
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 : |
MNL |
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.