MIRA INFORM REPORT

Report Date :

28.10.2013

IDENTIFICATION DETAILS

Name :	SERVIZI INDUSTRIALI S.R.L.

Registered Office :	Via Marie Curie 19, 40064 Ozzano Dell'emilia Bo

Country :	Italy

Financials (as on) :	2012

Date of Incorporation :	19.02.1996

Com. Reg. No.:	BO310076

Legal Form :	Limited Liability Company

Line of Business :	Manufacture of interchangeable parts for machine tools

No. of Employees :	24

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

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 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 Summary

Company Name SERVIZI INDUSTRIALI S.R.L.

Company Registration BO310076

Country IT

Activity Code 257312

Activity Description Manufacture of interchangeable parts for machine tools

Company Status Active

Latest Turnover 4,185,042.00 (EUR)

Latest Shareholders Equity 105,183.00 (EUR)

Profit Before Tax 39,767.00 (EUR)

Company Identification

Activities

Activity Code 257312

Activity Description Manufacture of interchangeable parts for machine tools

Basic Information

Company Name SERVIZI INDUSTRIALI S.R.L.

Registered Company Name SERVIZI INDUSTRIALI S.R.L.

Company Registration Number BO310076

Country IT

VAT Registration Number 00651771206

Date of Company Registration 19/02/1996

Legal Form LIMITED LIABILITY COMPANY

Company Status Active

Principal Activity Code 257312

Principal Activity Description Manufacture of interchangeable parts for machine tools

Contact Address VIA MARIE CURIE 19, 40064 OZZANO DELL'EMILIA BO

Main Address

Address VIA MARIE CURIE 19, 40064 OZZANO DELL'EMILIA BO

Email Addresses pec.serviziindustriali@legalmail.it

Current Directors Managers

Name STEFANO INDOVINI

Address VIA PALAZZO BIANCHETTI 29/A, 40064 OZZANO DELL'EMILIA BO

Gender Male

Date of Birth 01/03/1954

Position SOLE DIRECTOR

Share Capital Structure

Issued Share capital 31,200.00 (EUR)

Name GIACOMO POGGI

Address VIA RIVABELLA 5, 40100 BO

Name STEFANO INDOVINI

Address VIA PALAZZO BIANCHETTI 29/A, 40064 BO

Employee Information

Year

Number of Employees 24

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 0.00 0.00

Plant & Machinery 0.00 0.00

Other Tangible Assets 43,500.00 35,402.00

Total Tangible Assets 43,500.00 35,402.00

Goodwill 0.00 0.00

Other Intangible Assets 39,504.00 41,909.00

Total Intangible Assets 39,504.00 41,909.00

Investments 0.00 0.00

Loans to Group 3,030.00 3,030.00

Other Loans 0.00 0.00

Miscellaneous Fixed

Assets 63,020.00 95,341.00

Total Other Fixed

Assets 66,050.00 98,371.00

Total Fixed Assets 149,054.00 175,682.00

Raw Materials 0.00 0.00

Work in Progress 0.00 0.00

Finished Goods 0.00 0.00

Other Inventories	887,673.00	603,029.00
Total Inventories	887,673.00	603,029.00
Trade Receivables	0.00	0.00
Group Receivables	0.00	0.00
Receivables Due after 1 year	38,567.00	0.00
Miscellaneous Receivables	1,317,480.00	1,781,432.00
Total Receivables	1,356,047.00	1,781,432.00
Cash	235,069.00	169,706.00
Other Current Assets	124,639.00	166,608.00
Total Current Assets	2,603,428.00	2,720,775.00
Total Assets	2,752,482.00	2,896,457.00
Trade Payables	0.00	0.00
Bank Liabilities	0.00	0.00
Other Loans/Finance	0.00	0.00
Group Payables	0.00	0.00
Miscellaneous Liabilities	2,081,889.00	2,034,331.00
Total Current Liabilities	2,081,889.00	2,034,331.00
Trade Payables due after 1 year	0.00	0.00
Bank Liabilities due after 1 year	0.00	0.00
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	565,410.00	680,129.00
Total Long Term Liabilities	565,410.00	680,129.00
Total Liabilities	2,647,299.00	2,714,460.00
Called Up Share Capital	31,200.00	31,200.00
Share Premium	0.00	0.00
Revenue Reserves	-76,815.00	112,600.00
Other Reserves	150,798.00	38,197.00
Total Shareholders Equity	105,183.00	181,997.00
Other Financials
Contingent Liabilities	86999	86999
Working Capital	482,972.00	686,444.00
Net Worth	65,679.00	140,088.00

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.63
UK Pound	1	Rs.99.94
Euro	1	Rs.84.14

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

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