MIRA INFORM REPORT

 

 

Report Date :

11.09.2013

 

IDENTIFICATION DETAILS

 

Name :

ECOFIBRE S.R.L.

 

 

Registered Office :

Via G. Di Vittorio , 75/77, 59013 Montemurlo (Po)

 

 

Country :

Italy

 

 

Financials (as on) :

2011

 

 

Date of Incorporation :

03.01.1994

 

 

Com. Reg. No.:

01659190977

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Transformation of Textile and Waste, Cutting and Rag of Ribbons and Textile in General Grading of Scrap Fabric and Waste Processing, Processing of Yarn and Patches on the Crude Including Dyeing, Fabric Production for Any Destination and Use of Non-Woven Fabric, Stretch and Apparel , Etrasformazione Yarn Production of Every Kind and Composition From 01.02.1994

 

 

No. of Employees :

20.35

 

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

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 Summary

 

Company Name                                    ECOFIBRE S.R.L.

Company Registration  Number            01659190977

Country                                                IT

Activity Code                                        2283

Activity Description                              ACTIVITY ': TRANSFORMATION OF TEXTILE AND WASTE, CUTTING AND RAG OF RIBBONS AND TEXTILE IN GENERAL GRADING OF SCRAP FABRIC AND WASTE PROCESSING, PROCESSING OF YARN AND PATCHES ON THE CRUDE INCLUDING DYEING, FABRIC PRODUCTION FOR ANY DESTINATION AND USE OF NON-WOVEN FABRIC, STRETCH AND APPAREL , ETRASFORMAZIONE YARN PRODUCTION OF EVERY KIND AND COMPOSITION FROM 01.02.1994

Latest Turnover                                    9,091,953.00 (EUR)

Latest Shareholders Equity                  379,525.00 (EUR)

Rating Indicator                                   Profit Before Tax 160,273.00 (EUR)

 

 

Company Identification

 

Activities

 

Activity Code                2283

Activity Description      ACTIVITY ': TRANSFORMATION OF TEXTILE AND WASTE, CUTTING AND RAG OF RIBBONS AND TEXTILE IN GENERAL GRADING OF SCRAP FABRIC AND WASTE PROCESSING, PROCESSING OF YARN AND PATCHES ON THE CRUDE INCLUDING DYEING, FABRIC PRODUCTION FOR ANY DESTINATION AND USE OF NON-WOVEN FABRIC, STRETCH AND APPAREL , ETRASFORMAZIONE YARN PRODUCTION OF EVERY KIND AND COMPOSITION FROM 01.02.1994

 

 

Basic Information

 

Company Name                                    ECOFIBRE S.R.L.

Registered Company Name                  ECOFIBRE S.R.L.

Company Registration Number            01659190977

Country                                                IT

VAT Registration Number                     N.D.

VAT Registration Date                          03/01/1994

Date of Company Registration             03/01/1994

Date of Starting Operations                  01/02/1994

Commercial Court Legal Form             LIMITED LIABILITY COMPANY

Contact Address                                   VIA G. DI VITTORIO , 75/77, 59013 MONTEMURLO (PO)

Contact Telephone Number                  0574652554

 

 

Main Address

 

Address                                   VIA G. DI VITTORIO , 75/77, 59013 MONTEMURLO (PO)

Country                                    IT

Telephone                                0574652554

 

 

Current Directors Managers

 

Name                                       ADELE CINTELLI

Address                                   VIA MOISE' CECCONI , 24, 59100 PRATO (PO)

Gender                                     Female

Date of Birth                             02/01/1950

Position                                   MANAGING DIRECTOR

 

 

Share Capital Structure

 

Nominal Share Capital             25,822.84 (EUR)

Issued Share capital                 25,822.84 (EUR)

 

 

Employee Information

 

Year                                         2010

Number of Employees 20.35

 

Year                                         2009

Number of Employees 16.04

 

 

Financial Statements

 

Profit & Loss

 

Financial Year                     2011                                     2010                                     2009

Number of Weeks                0                                          0                                           0

Currency                              EUR                                    EUR                                     EUR

Revenue                              9,091,953.00                        7,764,402.00                         4,763,565.00

Operating Costs                  8,927,155.00                        7,622,844.00                         4,595,376.00

Operating Profit                   164,798.00                           141,558.00                            168,189.00

Wages & Salaries                809,179.00                           732,713.00                            600,255.00

Depreciation                        424,195.00                           377,242.00                            210,688.00

Amortisation                       15,444.00                             16,004.00                              16,094.00

Financial Income                2,125.00                               3,025.00                                8,125.00

Financial Expenses             43,645.00                             29,288.00                              19,214.00

Extraordinary  Income         39,220.00                             3,730.00                                14,990.00

Profit Before Tax                 160,273.00                           119,044.00                            171,892.00

Tax                                      85,766.00                             72,045.00                              88,713.00

Profit After Tax                    74,507.00                             46,999.00                              83,179.00

 

Balance Sheet

Financial Year                     2011                                     2010                                     2009

Number of Weeks                0                                          0                                           0

Currency                              EUR                                    EUR                                     EUR

Other Tangible Assets         2,039,646.00                        1,931,721.00                         2,101,380.00

Total Tangible Assets         2,039,646.00                        1,931,721.00                         2,101,380.00

Total Intangible Assets       30,932.00                             46,376.00                              62,160.00

Investments                         0.00                                     0.00                                      0.00

Loans to Group                   0.00

Miscellaneous  Fixed Assets                                          3,863.00                                4,535.00            3,971.00

Total Other Fixed Assets     3,863.00                               4,535.00                                3,971.00

Total Fixed Assets               2,074,441.00                        1,982,632.00                         2,167,511.00

Other Inventories                 188,575.00                           326,486.00                            115,096.00

Total Inventories                 188,575.00                           326,486.00                            115,096.00

Trade Receivables               1,339,620.00                        1,561,463.00                         1,384,420.00

Miscellaneous  Receivables                                            197,979.00                            236,818.00        189,297.00

Total Receivables                1,537,599.00                        1,798,281.00                         1,573,717.00

Cash                                    413,424.00                           535,617.00                            744,943.00

Other Current Assets          4,532.00                               2,766.00                                2,695.00

Total Current Assets           2,144,130.00                        2,663,150.00                         2,436,451.00

Total Assets                        4,218,571.00                        4,645,782.00                         4,603,962.00

Trade Payables                    1,747,205.00                        1,945,651.00                         1,524,005.00

Bank Liabilities                   294,324.00                           303,326.00                            283,839.00

Miscellaneous  Liabilities    241,514.00                           218,221.00                            262,735.00

Total Current Liabilities      2,283,043.00                        2,467,198.00                         2,070,579.00

Bank Liabilities

due after 1 year                    442,087.00                           735,333.00                            1,026,414.00

Miscellaneous  Liabilities

due after 1 year                                  1,113,916.00                    1,138,235.00                           1,248,953.00

Total Long Term Liabilities                  1,556,003.00                        1,873,568.00                           2,275,367.00

Total Liabilities                                  3,839,046.00                       4,340,766.00                          4,345,946.00

Called Up Share Capital                           85,140.00                           85,140.00                               85,140.00

Share Premium                                                0.00                                    0.00                                      0.00

Other Reserves

294,385.00

219,876.00

172,876.00

Total Shareholders  Equity

379,525.00

305,016.00

258,016.00

Other Financials

 

 

 

Working Capital

-138,913.00

195,952.00

365,872.00

Net Worth

348,593.00

258,640.00

195,856.00

 

Ratios

 

 

 

Pre-Tax Profit Margin

1.76

1.53

3.61

Return on Capital Employed

8.28

5.46

6.79

Return on Total Assets

Employed

3.80

2.56

3.73

Return on Net Assets Employed

42.23

39.03

66.62

Sales/Net Working Capital

-65.45

39.62

13.02

Stock Turnover Ratio

2.07

4.20

2.42

Debtor Days

53.78

73.40

106.08

Creditor Days

70.14

91.46

116.77

Current Ratio

0.94

1.08

1.18

Liquidity Ratio/Acid Test

0.86

0.95

1.12

Current Debt Ratio

6.02

8.09

8.03

Gearing

91.00

93.44

94.40

Equity in Percentage

9.07

6.64

5.69

Total Debt Ratio

10.12

14.23

16.84

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.64.21

UK Pound

1

Rs.100.82

Euro

1

Rs.85.21

 

 

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%)

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.