MIRA INFORM REPORT

 

 

Report Date :

01.08.2014

 

IDENTIFICATION DETAILS

 

Name :

NORDMECCANICA S.P.A.

 

 

Registered Office :

Via Orsina 16, 16A 16B 29122 – Piacenza (PC) -IT

 

 

Country :

Italy

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

12.10.1978

 

 

Legal Form :

Joint stock company

 

 

Line of Business :

Manufacture of Machinery And Equipment N.E.C.

 

 

No of Employees :

From 176 to 200

 

 

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 :

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 – June 1, 2014

 

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

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 higher. 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 133% of GDP in 2013, but investor concerns about Italy and the broader euro-zone crisis eased in 2013, bringing down Italy's borrowing costs on sovereign government debt from euro-era. The government still faces pressure from investors and European partners to sustain its efforts to address Italy's long-standing structural impediments to growth, such as labor market inefficiencies and widespread tax evasion. In 2013 economic growth and labor market conditions deteriorated, with growth at -1.8% and unemployment rising to 12.4%, with youth unemployment around 40%. Italy's GDP is now 8% below its 2007 pre-crisis level.

 

Source : CIA

Euroanalysis Full

 

As for Your mandate, we report on :

 

Nordmeccanica S.p.a.

Via Orsina 16, 16A 16B

29122 – Piacenza (PC) -IT-

 

 

Summary

 

Fiscal Code

:

00333340339

Legal Form

:

Joint stock company

start of Activities

:

28/04/1980

Equity

:

Over 2.582.254

Turnover Range

:

50.000.000/75.000.000

Number of Employees

:

from 176 to 200

 

n.b.: The Creditworthness Rate shows, in percentage, the ratio between the suggested credit opinion and the credit amount that the firm could get if the financial situation would be completely positive.

 

 

Highlights

 

Company is managed by a skilled team, the one formed by Antonio Cerciello

and his two sons.

 

 

The managing strategy is built around the international experience in

management developed by the President, supported by the energy and creativity

delivered by Vincenzo and Alfredo. Young though with years of experience

matured within the Company.

 

 

Under Cerciello team management the Company underwent a constant growth

both in volume of business and in expansion through international markets.

 

 

Activity

 

General mechanics

 

MANUFACTURE OF MACHINERY AND EQUIPMENT N.E.C.

Legal Data

 

Legal Form : Joint stock company

 

Fiscal Code : 00333340339

 

 

Foreign Trade Reg. no. : PC004092 since 14/01/1992

 

 

Chamber of Commerce no. : 99115 of Piacenza since 30/10/1978

 

 

Firms' Register : PC032-4868 of Piacenza since 19/02/1996

 

 

V.A.T. Code : 00333340339

 

 

Establishment date

: 12/10/1978

 

Start of Activities

: 28/04/1980

 

Legal duration

: 31/12/2030

 

Nominal Capital

: 5.450.000

 

Subscribed Capital

: 5.000.000

 

Paid up Capital

: 5.000.000

 

 

 

Members

 

Cerciello Antonio

 

Born in Marigliano (NA) on 01/01/1940 - Fiscal Code : CRCNTN40A01E955Q

 

Residence: Matteotti , 16  - 29121 Piacenza (PC) - IT -

 

Position

Since

Shares Amount

% Ownership

Director

30/04/2013

 

 

Board Chairman

30/04/2013

 

 

Managing Director

30/04/2013

 

 

 

Prejudicial Events found with cancellations*

Legal Mortgage - 14/03/2006. - 3.212 Euro. Event writing-off

 

GEST LINE S. P. A.

 

No Protests registered

 

Cerciello Vincenzo

 

Born in Napoli (NA) on 08/11/1975 - Fiscal Code : CRCVCN75S08F839L

 

Residence:  Chiapponi , 20 - 29121 Piacenza (PC) - IT -

 

Position

Since

Shares Amount

% Ownership

Director

30/04/2013

 

 

Managing Director

30/04/2013

 

 

No Prejudicial events are reported

 

No Protests registered

 

Cerciello Alfredo

 

Born in Napoli (NA) on 15/10/1977 - Fiscal Code : CRCLRD77R15F839N

 

Residence:  Mandelli , 4 - 29121 Piacenza (PC) - IT –

 

Position

Since

Shares Amount

% Ownership

Attorney with special power

07/04/2003

 

 

Director

30/04/2013

 

 

Managing Director

30/04/2013

 

 

 

No Prejudicial events are reported

 

No Protests registered

 

Faziotti Marika

 

Born in Piacenza (PC) on 04/09/1974 - Fiscal Code : FZTMRK74P44G535Y

 

Residence:  Breda , 27 - 29010 Monticelli d'Ongina (PC) - IT –

 

Position

Since

Shares Amount

% Ownership

Attorney with special power

10/04/2008

 

 

 

No Prejudicial events are reported

 

No Protests registered

 

Ginanneschi Fabio

 

 

Born in Piacenza (PC) on 06/02/1958 - Fiscal Code : GNNFBA58B06G535U

 

Residence:  Einstein Int. 2 , 7 - 29010 Monticelli d'Ongina (PC) - IT –

 

Position

Since

Shares Amount

% Ownership

Attorney with special power

10/04/2008

 

 

 

No Prejudicial events are reported

 

No Protests registered

 

*Concerns also partially erased events.

 

 

Companies connected to members *

 

*checkings have been performed on a national scale.

In this module are listed the companies in which members hold or have holded positions.

 

Cerciello Antonio

 

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

Nordtec Srl

Piacenza (PC) - IT -

00189160336

Sole Director

Withdrawn

Ceased

Nordtec Srl

Piacenza (PC) - IT -

00189160336

Attorney with special power

Withdrawn

Ceased

Cmf Omat Srl

Piacenza (PC) - IT -

01322680065

Sole Director

Withdrawn

Ceased

P.p. S.r.l. Promotion Packaging

Marigliano (NA) - IT -

04482250638

Sole Director

Withdrawn

Ceased

P.p. S.r.l. Promotion Packaging

Marigliano (NA) - IT -

04482250638

Liquidator

Withdrawn

Ceased

Tecnologie E Sistemi Per L'automazione *Tesy S.r.l.

Piacenza (PC) - IT -

00927060335

Attorney with special power

Withdrawn

Ceased

Tsi S.r.l.

Piacenza (PC) - IT -

01136540331

Sole Director

Withdrawn

Ceased

Samp Srl

Milano (MI) - IT -

01532630173

Sole Director

Withdrawn

Ceased

Comif - S.p.a. Costruzione Macchine Imballaggio Flessibile -

Fisciano (SA) - IT -

00296340656

Chairman

Active

Registered

Power S.r.l.

Piacenza (PC) - IT -

01305850339

Attorney with special power

Withdrawn

Ceased

Cerfin S.p.a.

Piacenza (PC) - IT -

01568980336

Sole Director

Active

Registered

Nordmeccanica Vacuum Societa' A Responsabilita' Limitata Enunciabile Anche Nordm

Piacenza (PC) - IT -

01633500333

Sole Director

Active

Registered

 

Cerciello Vincenzo

 

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

River Volley Societa' Sportiva Dilettantistica A Responsabilita' Limitata

Piacenza (PC) - IT -

01381470333

Sole Director

Active

Registered

Ristorland S.r.l.

Piacenza (PC) - IT -

01456690336

Director

Withdrawn

Registered

Ristorland S.r.l.

Piacenza (PC) - IT -

01456690336

Managing Director

Withdrawn

Registered

Copra Volley Piacenza S.r.l. Societa' Sportiva Dilettantistica

Piacenza (PC) - IT -

01377030331

Director

Withdrawn

Registered

Copra Volley Piacenza S.r.l. Societa' Sportiva Dilettantistica

Piacenza (PC) - IT -

01377030331

Assistant board Chairman

Withdrawn

Registered

 

Cerciello Alfredo

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

Nordtec Srl

Piacenza (PC) - IT -

00189160336

Sole Director

Withdrawn

Ceased

Nordtec Srl

Piacenza (PC) - IT -

00189160336

Attorney with special power

Withdrawn

Ceased

Cmf Omat Srl

Piacenza (PC) - IT -

01322680065

Attorney with special power

Withdrawn

Ceased

Tecnologie E Sistemi Per L'automazione *Tesy S.r.l.

Piacenza (PC) - IT -

00927060335

Sole Director

Withdrawn

Ceased

Power S.r.l.

Piacenza (PC) - IT -

01305850339

Sole Director

Withdrawn

Ceased

River Volley Societa' Sportiva Dilettantistica A Responsabilita' Limitata

Piacenza (PC) - IT -

01381470333

Institor

Active

Registered

Copra Volley Piacenza S.r.l. Societa' Sportiva Dilettantistica

Piacenza (PC) - IT -

01377030331

Director

Withdrawn

Registered

Nordmeccanica Vacuum Societa' A Responsabilita' Limitata Enunciabile Anche Nordm

Piacenza (PC) - IT -

01633500333

Attorney with special power

Active

Registered


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.

 

 

Capital Shareholders

 

Shareholders' list as at date of data collection:

Firm's Style / Name

Seat / Residence

Fiscal Code

Owned Shares

% Ownership

Cerciello Alfredo

Piacenza - IT -

CRCLRD77R15F839N

5.000 .Eur

0,10

Cerfin S.a.

 

 

 

99,90

 

 

Direct Participations

 

The Company under review has participations in the following Companies:

 

Firm's Style

Seat

Fiscal Code

Owned Shares Amount

% Ownership

since

until

Share Status

Nordmeccanica Vacuum Societa' A Responsa bilita' Limitata Enunciabile Anche Nordm

Piacenza - IT -

01633500333

10.000 .Eur

100,00

 

 

Active

 

 

Firm's location and structure

 

In order to carry out its activities the firm uses the following locations:

 

Legal and operative seat               (Factory)    since 08/05/1980

 

Orsina 16 , 16A 16B - 29100 - Piacenza (PC) - IT -

 

PHONE : 0523596411

 

FAX : 0523612051

 

Legal mail : NORDMECCANICA@PEC.NORDMECCANICA.COM

 

- Branch (Factory) since 12/10/2004

 

   I^ Maggio , 91/93 - 29027 - Podenzano (PC) - IT -

Employees  : 194

Fittings and Equipment for a value of 680.000   Eur

 

Stocks for a value of 13.270.000  Eur

 

Furniture and fittings for a value of 36.000   Eur

 

Vehicles for a value of 100.000  Eur

The firm has a direct commercial organization

Sales are mainly addressed to Northern Italy

 

The firm operates abroad as importer / exporter..

To purchase foreign products the firm uses the following channels :

- national or foreign important buyers

 

- direct orders to foreign companies

Export represents from 20% to 50% of the global turnover.

Products abroad are placed by :

- its own sales net-work

 

- its own agents

 

- dirct orders from foreign companies

Import comes generally from the following nations:

- Great Britain

 

- France

 

 

Historical Information and/or Firm's Status

 

CHANGES TO THE LEGAL FORM:

 

Former legal form

New legal form

Changement Date

Limited liability company

Joint stock company

18/03/1981

 

EX-MEMBERS / EX-POSITIONS:

 

Gasparini Fausto

 

Born in Piacenza (PC) on 19/10/1941 - Fiscal Code : GSPFST41R19G535R

 

Ex-Postions/ Sole Director

 

 

Italia    Paolo

 

Born in Piacenza (PC) on 23/02/1943 - Fiscal Code : TLIPLA43B23G535P

 

Residence:  Tempio , 34 - 29100 Piacenza (PC) - IT -

 

Ex-Postions

Temporary Auditor

Permanent Auditor

 

 

Affaticati Aurora

 

Born in Montevideo  ( ) on 24/05/1951 - Fiscal Code : FFTRRA51E64Z613N

 

Residence:  Nino Corvi  , 5 - 29100 Piacenza (PC) - IT -

 

Ex-Postions

Permanent Auditor

Chairman of the Board of Aud.

 

 

Rebecchi Curzio

 

Born in Monticelli d'Ongina  (PC) on 03/01/1939 - Fiscal Code : RBCCRZ39A03F671W

 

Residence:Circonvallazione Nuova , 5- 29010Monticelli d'Ongina    (PC)- IT –

 

Ex-Postions

Chairman of the Board of Aud.

Permanent Auditor

 

Giuffrida Filippo

 

Born in Piacenza (PC) on 18/12/1960 - Fiscal Code : GFFFPP60T18G535K

 

Residence:  San Giuliano , 19 - 29100 Piacenza (PC) - IT -

 

Ex-Postions

Temporary Auditor

 

Truffelli Giuseppe

 

Born in Castel San Giovanni  (PC) on 03/10/1968  - Fiscal Code : TRFGPP68R03C261P

 

Residence:  Cavalli , 68 - 29100 Piacenza (PC) - IT -

 

Ex-Postions

Temporary Auditor

 

Cerciello Antonio

 

Born in Marigliano  (NA) on 01/01/1940  - Fiscal Code : CRCNTN40A01E955Q

 

Residence:  Matteotti , 16 - 29121 Piacenza (PC) - IT -

 

Ex-Postions

Sole Director

 

Cerciello Vincenzo

 

Born in Napoli (NA) on 08/11/1975 - Fiscal Code : CRCVCN75S08F839L

 

Residence:  Chiapponi , 20 - 29121 Piacenza (PC) - IT -

 

Ex-Postions

Managing Director

 

CERCIELLO  ANTONIO

 

Born in MARIGLIANO  (NA) on 01/01/1940 - Fiscal Code : CRCNTN40A01E955Q

 

Residence:  SANTA LUCIA , 39 - 80100 NAPOLI (NA) - IT –

 

Ex-Postions

Sole Director

 

 

Moroni Laura

 

Born in Piacenza (PC) on 11/01/1962 - Fiscal Code : MRNLRA62A51G535C

 

Residence:  Fulgosio , 21 - 29100 Piacenza (PC) - IT –

 

Ex-Postions

Temporary Auditor

 

Cerciello Alfredo

 

Born in Napoli (NA) on 15/10/1977 - Fiscal Code : CRCLRD77R15F839N

 

Residence:  Mandelli , 4 - 29121 Piacenza (PC) - IT -

 

Ex-Postions

Managing Director


CEASINGS/INCORPORATIONS/MERGES:

 

The firm absorved

 

Nordtec Srl

 

Dell'orsina , 16 , 29100 , Piacenza (PC) - IT -

 

Fiscal Code: 00189160336

 

Date :   14/12/2004

 

The firm absorved

 

Tecnologie E Sistemi Per L'automazione *Tesy S.r.l.

 

Bresciani , 7 , 29100 , Piacenza (PC) - IT -

 

Fiscal Code: 00927060335

 

Date :   14/12/2004

 

The firm absorved

 

Power S.r.l.

 

Dell'orsina , 16 , 29100 , Piacenza (PC) - IT -

 

Fiscal Code: 01305850339

 

Date :   14/12/2004

 

The firm absorved

 

Tsi S.r.l.

 

Orsina , 16 , 29100 , Piacenza (PC) - IT -

 

Fiscal Code: 01136540331

 

Date :   14/12/2004

 

Project of merging by taking over of

 

Power S.r.l.

 

Dell'orsina         , 16 , 29100 , Piacenza (PC) - IT -

 

Fiscal Code: 01305850339

 

Date        Merging/splitting-up project: 25/06/2004

 

The firm absorbed by merging of

 

Power S.r.l.

 

Dell'orsina         , 16 , 29100 , Piacenza (PC) - IT -

 

Fiscal Code: 01305850339

 

Date        :        14/12/2004


Protests

Protests checking on the subject firm has given a negative result.

 

 

Data Base Prejudicial Events Search

 

Search performed on a National Scale

 

Prejudicial Events Search Result: NEGATIVE

Search performed on a specialized data base.

 

 

Legal Procedures

 

None reported, standing to the latest received edition of the Official Publications.

 

 

Bankers

 

The firm operates with:

 

Bank Name

Agency Name

Address

ZIP Code

City

ABI Code

CAB Code

UNICREDIT BANCA SPA

 

 

 

 

2008

0

 

 

Financial and Economical Analysis

 

Subject is active since 1980

An eco-fin analysis has been made on the base od the b/s fo the years 2011, 2012 and 2013.

Under an economic point of view, profits were registered during the last years with a r.o.e. of 16,85% in 2013 with a remarkable upward trend (+10,07% on 2013 compared to 2012 and +14,45% on 2012 compared to 2011).

The operating result in 2013 was positive (10,11%) falling within the field's average.

An operating result of Eur. 5.223.269 has been registered. with an increase of 20,62% if the compared to the previous financial year.

The gross operating margin of the latest financial year is of Eur. 5.798.555 , stable if compared to the year before.

Company's financial status is balanced since indebtedness is not high (1,19) and falling as against the previous year (1,24).

The management generated equity capital for an amount of Eur. 18.234.981 , unchanged as opposed to the preceding year.

Total debts recorded amounted to Eur. 32.015.034 (Eur. 2.157.527 of which were m/l term debts) , a more or less stable value.

Financial debts exposure is under control while the recourse to commercial credit is rather frequent but lined up with the field's average.

Liquidity is good (1,47)

Trade credits average terms are 64,51 days. , lower than the sector's average.

As far as the cash flow is concerned during the latest financial year it amounted to Eur. 3.648.212

Labour cost expenses amount to Eur. 9.763.574 , representing 14,31% on the total of production costs. , whereas the incidence on sales revenues is of 13,6%.

The incidence of the financial charges is of -0,43% on the sales amount.

 

 

Financial Data

 

Complete balance-sheet for the year          al 31/12/2013 (in Eur x 1)

 

Item Type

Value

Sales

71.809.840

Profit (Loss) for the period

3.072.926

 

 

Complete balance-sheet for the year          al 31/12/2012 (in Eur x 1)

 

Item Type

Value

Sales

65.237.900

Profit (Loss) for the period

2.900.924

 

 

Complete balance-sheet for the year          al 31/12/2011 (in Eur x 1)

 

Item Type

Value

Sales

57.000.964

Profit (Loss) for the period

4.388.104

 

 

Complete balance-sheet for the year          al 31/12/2010 (in Eur x 1)

 

Item Type

Value

Sales

42.477.843

Profit (Loss) for the period

925.955

 

 

Complete balance-sheet for the year          al 31/12/2009 (in Eur x 1)

 

Item Type

Value

Sales

36.544.124

Profit (Loss) for the period

212.033

 

 

Balance Sheets

 

From our constant monitoring of the relevant Public Administration offices, no more recent balance sheets result to have been filed.

- Balance Sheet as at 31/12/2013 - 12 Mesi - Currency: - Amounts x 1

 

- 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

 

Years

2013

2012

2011

BALANCE SHEET ACCOUNTS

 

ASSETS

 

 

 

CREDITS VS PARTNERS

 

 

 

. Deposits not yet withdrawn

 

 

 

. Deposits already withdrawn

 

 

 

Total credits vs partners

 

 

 

FIXED ASSETS

 

 

 

. INTANGIBLE FIXED ASSETS

 

 

 

. . Start-up and expansion expenses

 

 

 

. . Research,develop. and advert.expens.

31.352

29.276

3.870

. . Industrial patent rights

 

 

 

. . Concessions,licenses,trademarks,etc.

270.164

328.765

285.216

. . Goodwill

 

 

 

. . Assets in formation and advance paymen.

 

 

 

. . Other intangible fixed assets

15.408

7.200

 

. Total Intangible Fixed Assets

316.924

365.241

289.086

. TANGIBLE FIXED ASSETS

 

 

 

. . Real estate

4.427.358

4.491.109

4.518.390

. . Plant and machinery

633.470

263.192

270.798

. . Industrial and commercial equipment

43.550

34.802

24.695

. . Other assets

351.687

232.773

231.758

. . Assets under construction and advances

 

 

 

. Total Tangible fixed assets

5.456.065

5.021.876

5.045.641

. FINANCIAL FIXED ASSETS

 

 

 

. . Equity investments

887.267

401.080

491.491

. . . Equity invest. in subsidiary companies

887.267

401.080

401.080

. . . Equity invest. in associated companies

 

 

90.411

. . . Equity invest. in holding companies

 

 

 

. . . Equity invest. in other companies

 

 

 

. . Financial receivables

22.065

22.116

23.691

. . . . Within 12 months

22.065

22.116

23.691

. . . . Beyond 12 months

 

 

 

. . . Receivab due from subsidiaries

22.065

22.116

23.691

. . . . Within 12 months

22.065

22.116

23.691

. . . . Beyond 12 months

 

 

 

. . . Receivables due from assoc.comp.

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . . Receivables due from holding comp.

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . . Receivables due from third parties

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Other securities

6.850

6.850

6.850

. . Own shares

 

 

 

. . . Total nominal value

 

 

 

. Total financial fixed assets

916.182

430.046

522.032

Total fixed assets

6.689.171

5.817.163

5.856.759

CURRENT ASSETS

 

 

 

. INVENTORIES

 

 

 

. . Raw materials and other consumables

9.527.040

8.344.994

9.293.176

. . Work in progress and semimanufactured

3.319.415

2.813.949

2.560.744

. . Work in progress on order

 

 

 

. . Finished goods

427.405

125.805

266.843

. . Advance payments

 

 

 

. Total Inventories

13.273.860

11.284.748

12.120.763

. CREDITS NOT HELD AS FIXED ASSETS

 

 

 

. . Within 12 months

21.836.851

19.656.934

12.654.374

. . Beyond 12 months

465.482

910.987

529.719

. . Trade receivables

12.867.899

11.050.850

8.828.187

. . . . Within 12 months

12.447.439

10.179.305

8.381.638

. . . . Beyond 12 months

420.460

871.545

446.549

. . Receivables due from subsid. comp.

6.760.547

4.488.851

1.653.362

. . . . Within 12 months

6.760.547

4.488.851

1.653.362

. . . . Beyond 12 months

 

 

 

. . Receivables due from assoc. comp.

 

 

43.243

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

43.243

. . Receivables due from holding comp.

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Fiscal Receivables

2.301.212

4.414.303

2.186.313

. . . . Within 12 months

2.301.212

4.414.303

2.186.313

. . . . Beyond 12 months

 

 

 

. . Receivables for anticipated taxes

13.954

10.185

9.481

. . . . Within 12 months

13.954

10.185

9.481

. . . . Beyond 12 months

 

 

 

. . Receivables due from third parties

358.721

603.732

463.507

. . . . Within 12 months

313.699

564.290

423.580

. . . . Beyond 12 months

45.022

39.442

39.927

. Total Credits not held as fixed assets

22.302.333

20.567.921

13.184.093

. FINANCIAL ASSETS

 

 

 

. . Equity invest. in subsidiary comp.

 

 

 

. . Equity invest. in associated companies

 

 

 

. . Equity invest. in holding companies

 

 

 

. . Other equity investments

 

 

 

. . Own shares

 

 

 

. . . Total nominale value

 

 

 

. . Other securities

 

 

 

. Total Financial Assets

 

 

 

. LIQUID FUNDS

 

 

 

. . Bank and post office deposits

8.188.742

5.375.627

9.363.338

. . Checks

 

 

 

. . Banknotes and coins

14.852

25.285

13.694

. Total Liquid funds

8.203.594

5.400.912

9.377.032

Total current assets

43.779.787

37.253.581

34.681.888

ADJUSTMENT ACCOUNTS

 

 

 

. Discount on loans

 

1.104.227

 

. Other adjustment accounts

1.208.933

 

859.505

Total adjustments accounts

1.208.933

1.104.227

859.505

TOTAL ASSETS

51.677.891

44.174.971

41.398.152

 

 

 

 

LIABILITIES

 

 

 

STOCKHOLDERS' EQUITY

 

 

 

. Capital stock

5.000.000

5.000.000

5.000.000

. Additional paid-in capital

 

 

 

. Revaluation reserves

53.989

53.989

53.989

. Legal reserve

747.423

602.377

382.972

. Reserve for Own shares

 

 

 

. Statute reserves

 

 

 

. Other reserves

9.360.643

6.724.765

2.856.066

. Accumulated Profits (Losses)

 

 

 

. Profit( loss) of the year

3.072.926

2.900.924

4.388.104

. Advances on dividends

 

 

 

. Partial loss of the year Coverage

 

 

 

Total Stockholders'Equity

18.234.981

15.282.055

12.681.131

RESERVES FOR RISKS AND CHARGES

 

 

 

. . Reserve for employee termination indem.

 

 

 

. . Taxation fund, also differed

1.106

 

211

. . Other funds

300.000

150.000

105.000

Total Reserves for Risks and Charges

301.106

150.000

105.211

Employee termination indemnities

957.560

1.051.908

1.069.219

ACCOUNTS PAYABLE

 

 

 

. . . . Within 12 months

29.857.507

24.283.761

23.635.191

. . . . Beyond 12 months

2.157.527

3.212.746

3.758.527

. . Bonds

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Convertible bonds repayable

600.000

600.000

600.000

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

600.000

600.000

600.000

. . Due to shareholders for financing

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Due to banks

2.612.723

3.656.096

4.181.009

. . . . Within 12 months

1.055.196

1.043.350

1.022.482

. . . . Beyond 12 months

1.557.527

2.612.746

3.158.527

. . Due to other providers of finance

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Advances from customers

4.363.920

4.246.607

3.810.914

. . . . Within 12 months

4.363.920

4.246.607

3.810.914

. . . . Beyond 12 months

 

 

 

. . Trade payables

20.250.950

15.715.066

14.639.688

. . . . Within 12 months

20.250.950

15.715.066

14.639.688

. . . . Beyond 12 months

 

 

 

. . Securities issued

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Due to subsidiary companies

242.900

 

 

. . . . Within 12 months

242.900

 

 

. . . . Beyond 12 months

 

 

 

. . Due to associated companies

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Due to holding companies

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Due to the tax authorities

2.419.165

1.977.194

2.906.956

. . . . Within 12 months

2.419.165

1.977.194

2.906.956

. . . . Beyond 12 months

 

 

 

. . Due to social security and welfare inst.

510.043

413.590

394.452

. . . . Within 12 months

510.043

413.590

394.452

. . . . Beyond 12 months

 

 

 

. . Other payables

1.015.333

887.954

860.699

. . . . Within 12 months

1.015.333

887.954

860.699

. . . . Beyond 12 months

 

 

 

Total accounts payable

32.015.034

27.496.507

27.393.718

ADJUSTMENT ACCOUNTS

 

 

 

. Agio on loans

 

 

 

. Other adjustment accounts

169.210

194.501

148.873

Total adjustment accounts

169.210

194.501

148.873

TOTAL LIABILITIES

51.677.891

44.174.971

41.398.152

 

 

 

 

 

  MEMORANDUM ACCOUNTS

 

Third party goods

 

 

 

Investment accounts

 

 

 

Risk accounts

 

 

 

Civil and fiscal norms relation

 

 

 

 

 

 

 

 

 

 

PROFIT AND LOSS ACCOUNTS

 

 

VALUE OF PRODUCTION

 

 

 

. Revenues from sales and services

71.809.840

65.237.900

57.000.964

. Changes in work in progress

807.066

112.167

326.261

. Changes in semi-manufact. products

 

 

 

. Capitalization of internal work

413.000

 

 

. Other income and revenues

438.448

339.160

192.363

. . Contributions for operating expenses

 

 

 

. . Different income and revenues

438.448

339.160

192.363

Total value of production

73.468.354

65.689.227

57.519.588

PRODUCTION COSTS

 

 

 

. Raw material,other materials and consum.

38.606.932

31.404.843

28.649.114

. Services received

18.766.754

 

14.037.163

. Leases and rentals

409.766

18.564.265

273.644

. Payroll and related costs

9.763.574

8.644.681

8.074.861

. . Wages and salaries

7.088.312

6.244.602

5.784.211

. . Social security contributions

2.216.976

1.909.091

1.845.530

. . Employee termination indemnities

442.986

466.291

433.741

. . Pension and similar

 

 

 

. . Other costs

15.300

24.697

11.379

. Amortization and depreciation

575.286

515.618

498.911

. . Amortization of intangible fixed assets

104.557

92.584

121.780

. . Amortization of tangible fixed assets

405.814

369.800

333.349

. . Depreciation of tangible fixed assets

 

 

 

. . Writedown of current receiv.and of liquid

64.915

53.234

43.782

. Changes in raw materials

-1.182.047

948.182

-2.173.778

. Provisions to risk reserves

 

 

 

. Other provisions

 

 

 

. Other operating costs

1.304.820

1.281.488

1.052.068

Total production costs

68.245.085

61.359.077

50.411.983

Diff. between value and cost of product.

5.223.269

4.330.150

7.107.605

FINANCIAL INCOME AND EXPENSE

 

 

 

. Income from equity investments

 

 

 

. . In subsidiary companies

 

 

 

. . In associated companies

 

 

 

. . In other companies

 

 

 

. Other financial income

116.792

256.728

158.588

. . Financ.income from receivables

 

 

 

. . . Towards subsidiary companies

 

 

 

. . . Towards associated companies

 

 

 

. . . Towards holding companies

 

 

 

. . . Towards other companies

 

 

 

. . Financ.income from secur. t.f.assets

 

 

 

. . Financ.income from secur. cur.assets

 

 

 

. . Financ.income other than the above

 

256.728

 

. . . - Subsidiary companies

 

 

 

. . . - Associated companies

 

 

 

. . . - Holding companies

 

 

 

. . . - Other companies

 

256.728

 

. Interest and other financial expense

-422.152

-452.970

-367.665

. . Towards subsidiary companies

 

 

 

. . Towards associated companies

 

 

 

. . Towards holding companies

 

 

 

. . Towards other companies

 

452.970

 

Total financial income and expense

-305.360

-196.242

-209.077

ADJUSTMENTS TO FINANCIAL ASSETS

 

 

 

. Revaluations

1.076

19.590

539

. . Of equity investments

 

19.590

 

. . Of financ.fixed assets not repres.E.I.

1.076

 

539

. . Of securities incl.among current assets

 

 

 

. Devaluation

-509

-1.762

-515

. . Of equity investments

 

 

 

. . Of financial fixed assets (no equity inv)

-509

-1.762

-515

. . Of securities included among current ass

 

 

 

Total adjustments to financial assets

567

17.828

24

EXTRAORDINARY INCOME AND EXPENSE

 

 

 

. Extraordinary income

243.355

397.578

63.504

. . Gains on disposals

 

 

 

. . Other extraordinary income

243.355

397.578

63.504

. Extraordinary expense

-139.197

-68.126

-14.470

. . Losses on disposals

 

 

 

. . Taxes relating to prior years

 

 

 

. . Other extraordinary expense

-139.197

-68.126

-14.470

Total extraordinary income and expense

104.158

329.452

49.034

Results before income taxes

5.022.634

4.481.188

6.947.586

. Taxes on current income

1.949.708

1.580.264

2.559.482

. . current taxes

1.952.371

1.581.178

2.557.747

. . differed taxes(anticip.)

-2.663

-914

1.735

. Net income for the period

3.072.926

2.900.924

4.388.104

. Adjustments in tax regulations pursuance

 

 

 

. Provisions in tax regulations pursuance

 

 

 

. Profit (loss) of the year

3.072.926

2.900.924

4.388.104

 

 

RATIOS

Value Type

as at 31/12/2013

as at 31/12/2012

as at 31/12/2011

Sector Average

COMPOSITION ON INVESTMENT

 

 

 

 

 

Rigidity Ratio

Units

0,13

0,13

0,14

0,16

Elasticity Ratio

Units

0,85

0,84

0,84

0,82

Availability of stock

Units

0,26

0,26

0,29

0,20

Total Liquidity Ratio

Units

0,59

0,59

0,54

0,56

Quick Ratio

Units

0,16

0,12

0,23

0,04

COMPOSITION ON SOURCE

 

 

 

 

 

Net Short-term indebtedness

Units

1,19

1,24

1,12

3,10

Self Financing Ratio

Units

0,35

0,35

0,31

0,19

Capital protection Ratio

Units

0,56

0,48

0,26

0,63

Liabilities consolidation quotient

Units

0,10

0,18

0,20

0,16

Financing

Units

1,76

1,80

2,16

4,16

Permanent Indebtedness Ratio

Units

0,41

0,44

0,42

0,38

M/L term Debts Ratio

Units

0,06

0,10

0,12

0,07

Net Financial Indebtedness Ratio

Units

0,00

0,00

0,00

0,02

CORRELATION

 

 

 

 

 

Fixed assets ratio

Units

3,19

3,36

2,99

1,80

Current ratio

Units

1,47

1,53

1,47

1,24

Acid Test Ratio-Liquidity Ratio

Units

1,02

1,07

0,95

0,96

Structure's primary quotient

Units

2,73

2,63

2,17

1,18

Treasury's primary quotient

Units

0,27

0,22

0,40

0,06

Rate of indebtedness ( Leverage )

%

283,40

289,06

326,45

534,62

Current Capital ( net )

Value

13.922.280

12.969.820

11.046.697

881.162

RETURN

 

 

 

 

 

Return on Sales

%

5,08

5,24

8,57

3,66

Return on Equity - Net- ( R.O.E. )

%

16,85

18,98

34,60

8,90

Return on Equity - Gross - ( R.O.E. )

%

27,54

29,32

54,79

19,94

Return on Investment ( R.O.I. )

%

10,11

9,80

17,17

5,24

Return/ Sales

%

7,27

6,64

12,47

4,57

Extra Management revenues/charges incid.

%

58,83

66,99

61,74

35,24

Cash Flow

Value

3.648.212

3.416.542

4.887.015

214.985

Operating Profit

Value

5.223.269

4.330.150

7.107.605

310.321

Gross Operating Margin

Value

5.798.555

4.845.768

7.606.516

419.513

MANAGEMENT

 

 

 

 

 

Credits to clients average term

Days

64,51

60,98

55,76

117,11

Debts to suppliers average term

Days

127,68

113,22

122,68

124,74

Average stock waiting period

Days

66,55

62,27

76,55

56,77

Rate of capital employed return ( Turnover )

Units

1,39

1,48

1,38

1,11

Rate of stock return

Units

5,41

5,78

4,70

6,23

Labour cost incidence

%

13,60

13,25

14,17

17,11

Net financial revenues/ charges incidence

%

-0,43

-0,30

-0,37

-0,80

Labour cost on purchasing expenses

%

14,31

14,09

16,02

17,78

Short-term financing charges

%

1,32

1,65

1,34

2,20

Capital on hand

%

71,96

67,71

72,63

89,56

Sales pro employee

Value

394.559

241.621

38.127

208.953

Labour cost pro employee

Value

53.646

32.017

5.401

36.854

 

 

Remarks

 

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.

 

 

Market / Territory Data

 

Population living in the province   : Description: C:\Users\Sheetal\AppData\Local\Temp\Rar$EXa0.442\Spazio.gif273.689

Population living in the region      : Description: C:\Users\Sheetal\AppData\Local\Temp\Rar$EXa0.442\Spazio.gif4.151.369

Number of families in the region  : Description: C:\Users\Sheetal\AppData\Local\Temp\Rar$EXa0.442\Spazio.gif1.748.359

Monthly family expences average in the region (in Eur..) :

- per food products        : Description: C:\Users\Sheetal\AppData\Local\Temp\Rar$EXa0.442\Spazio.gif425

- per non food products  : Description: C:\Users\Sheetal\AppData\Local\Temp\Rar$EXa0.442\Spazio.gif2.063

- per energy consume    : Description: C:\Users\Sheetal\AppData\Local\Temp\Rar$EXa0.442\Spazio.gif143


Statistical Detrimental Data

 

Statistcally the trade activity shows periods of crisis.

The area is statistically considered lowly risky.

In the region 18.860 protested subjects are found; in the province they count to 804.

The insolvency index for the region is 0,46, , while for the province it is 0,30.

Total Bankrupt companies in the province : 915.

Total Bankrupt companies in the region : 14.698.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.60.25

UK Pound

1

Rs.101.92

Euro

1

Rs.80.70

 

 

INFORMATION DETAILS

 

Analysis Done by :

RAS

 

 

Report Prepared by :

SHG

 

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.