|
Report Date : |
07.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
BGB ITALIA S.R.L. |
|
|
|
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Registered Office : |
Via Pacinotti, 4A MARGHERA 30175 - Venezia |
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Country : |
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|
|
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
15.02.2006 |
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|
|
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Legal Form : |
Limited liability company |
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Line of Business : |
Wholesale of furniture made from any material |
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|
|
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No. of Employees |
From 1 to 5 |
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 |
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Payment Behaviour : |
No complaints |
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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 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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 |
BGB ITALIA S.R.L.
Via Pacinotti, 4A MARGHERA 30175 - Venezia (VE) -IT-
|
Fiscal Code |
: |
03653360275 |
|
Legal Form |
: |
Limited liability company |
|
start of Activities |
: |
15/02/2006 |
|
Equity |
: |
750.000 |
|
Turnover Range |
: |
1.500.000/2.000.000 |
|
Number of Employees |
: |
from 1 to 5 |
Wholesale of furniture made from any material
Legal Form : Limited liability company
|
Fiscal Code : 03653360275 |
|
Chamber of Commerce no. : 326954 of Venezia since 22/12/2005 |
|
V.A.T. Code : 03653360275 |
|
Establishment date |
: 13/12/2005 |
|
|
Start of Activities |
: 15/02/2006 |
|
|
Legal duration |
: 31/12/2050 |
|
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Nominal Capital |
: 10.000 |
|
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Subscribed Capital |
: 10.000 |
|
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Paid up Capital |
: 10.000 |
|
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Bains |
Gurjit Singh |
|
|
Born in Goslan |
( ) |
on 28/05/1967 |
- Fiscal Code : BNSGJT67E28Z222E |
|
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Residence: |
|
Boccherini |
, 40/1 |
- 30170 |
Venezia |
(VE) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Board Chairman |
13/12/2005 |
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|
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Director |
13/12/2005 |
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No Prejudicial events are reported |
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No Protests registered |
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Kaur |
Harmeek |
|
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Born in Haripur |
( ) |
on 24/08/1974 |
- Fiscal Code : KRAHMK74M64Z222Q |
|
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Residence: |
|
Boccherini |
, 40/1 |
- 30170 |
Venezia |
(VE) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
13/12/2005 |
|
|
|
Partner |
|
|
|
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No Prejudicial events are reported |
|
No Protests registered |
Companies connected to members *
*checkings have been performed on a national scale.
In this module the companies in which members hold/held positions are listed.
The Members of the subject firm are not reported to be Members in other companies.
Shareholders' list as at date of data collection:
|
Firm's Style / Name |
Seat / Residence |
Fiscal Code |
Owned Shares |
% Ownership |
|
Bains Gurjit Singh |
Venezia - IT - |
BNSGJT67E28Z222E |
4.500 .Eur |
45,00 |
|
Kaur Harmeek |
Venezia - IT - |
KRAHMK74M64Z222Q |
5.500 .Eur |
55,00 |
The Company under review has no participations in other Companies.
In order to carry out its activities the firm uses the following locations:
|
- |
Legal and operative seat |
|
|
|
|
|
|
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Pacinotti |
, 4A |
- 30100 |
- Venezia |
(VE) |
- IT - |
|
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PHONE |
: 0410993347 |
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|
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FAX |
: 0415311309 |
|
- |
Branch |
(Sales office) |
since 01/10/2010 |
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|
|
|
|
|
Delle Industrie |
, 19/B I16 |
- 30100 |
- Venezia |
(VE) |
- IT - |
|
|
|
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PHONE |
: 0415311309 |
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|
|
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FAX |
: 0410997963 |
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|
|
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Employees |
: 2 |
|
|
Protests checking on the subject firm has given a negative result.
Search performed on a National Scale
|
|
Prejudicial Events Search Result: NEGATIVE |
Search performed on a specialized data base.
None reported, standing to the latest received edition of the Official Publications.
The company is active since 2006
Balance sheets for the years 2011, 2012 and 2013 were analyzed.
During the last years, it recorded positive net results (r.o.e. 22,86% in 2013) with a good increase in turnover (+25,86% in 2013 compared to 2012 and +3,43% in 2012 compared to 2011).
The operating result in 2013 was positive (13,77%) and in line with the sector's average.
The amount of the operating result for the year 2013 is of Eur. 180.403 with an increase of 51,06% if the compared to the previous financial year.
The gross operating margin of the latest financial year is of Eur. 201.591 growing by 39,36% if compared to the year before.
The company has an excellent net worth if compared to its debts, with a low indebtedness (0,92) increasing compared to last year (0,11)
The equity capital is equal to Eur. 512.334 , rising by 29,64%.
During the last financial year total debts volume reached Eur. 773.354 (Eur. 131.437 were m/l term ones) , rising as opposed to the previous year (+83,96%).
Bank exsposure is limited and the suppliers' credit is modest too, 22,71 gg. is the payment average period below the sector's average.
The liquidity level is positive (1,55).
Credits are collected in 87,65 days on the average. , a better value than the sector's average.
Eur. 138.328 is the value of cash flow during the year 2013
During 2013 financial year labour costs amounted to Eur. 56.677, with a 3,18% incidence on production costs. and a 2,9% incidence on sales volumes.
The financial management has a limited economic impact, equal to -0,08% on the sales.
|
|
Complete balance-sheet for the year |
al 31/12/2013 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
1.953.872 |
|
Profit (Loss) for the period |
117.140 |
|
|
Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
1.552.379 |
|
Profit (Loss) for the period |
73.864 |
|
|
Complete balance-sheet for the year |
al 31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
1.500.796 |
|
Profit (Loss) for the period |
92.421 |
From our constant monitoring of the relevant Public Administration offices, no more recent balance sheets result to have been filed.
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- Balance Sheet as at 31/12/2013 - 12 Mesi - Currency: - Amounts x 1 |
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- Balance Sheet as at 31/12/2012 - 12 Mesi - Currency: - Amounts x 1 |
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- Balance Sheet as at 31/12/2011 - 12 Mesi - Currency: - Amounts x 1 |
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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 |
0,24 |
0,36 |
0,34 |
0,09 |
|
Elasticity Ratio |
Units |
0,76 |
0,64 |
0,55 |
0,89 |
|
Availability of stock |
Units |
n.c. |
n.c. |
n.c. |
0,26 |
|
Total Liquidity Ratio |
Units |
0,76 |
0,64 |
0,55 |
0,54 |
|
Quick Ratio |
Units |
0,13 |
0,30 |
0,26 |
0,03 |
|
COMPOSITION ON SOURCE |
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|
|
|
|
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Net Short-term indebtedness |
Units |
0,92 |
0,11 |
0,60 |
3,95 |
|
Self Financing Ratio |
Units |
0,39 |
0,48 |
0,35 |
0,17 |
|
Capital protection Ratio |
Units |
0,75 |
0,79 |
0,68 |
0,62 |
|
Liabilities consolidation quotient |
Units |
0,22 |
0,48 |
0,37 |
0,10 |
|
Financing |
Units |
1,51 |
1,06 |
1,84 |
4,85 |
|
Permanent Indebtedness Ratio |
Units |
0,50 |
0,64 |
0,53 |
0,29 |
|
M/L term Debts Ratio |
Units |
0,11 |
0,17 |
0,18 |
0,07 |
|
Net Financial Indebtedness Ratio |
Units |
0,00 |
n.c. |
0,00 |
1,04 |
|
CORRELATION |
|
|
|
|
|
|
Fixed assets ratio |
Units |
2,08 |
1,80 |
1,56 |
2,37 |
|
Current ratio |
Units |
1,55 |
1,84 |
1,16 |
1,18 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
1,55 |
1,84 |
1,16 |
0,80 |
|
Structure's primary quotient |
Units |
1,63 |
1,34 |
1,04 |
1,48 |
|
Treasury's primary quotient |
Units |
0,26 |
0,85 |
0,55 |
0,04 |
|
Rate of indebtedness ( Leverage ) |
% |
255,80 |
209,77 |
284,47 |
602,26 |
|
Current Capital ( net ) |
Value |
352.852 |
243.305 |
67.882 |
191.984 |
|
RETURN |
|
|
|
|
|
|
Return on Sales |
% |
7,08 |
6,38 |
7,54 |
2,03 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
22,86 |
18,69 |
28,76 |
6,31 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
35,60 |
29,53 |
42,84 |
17,00 |
|
Return on Investment ( R.O.I. ) |
% |
13,77 |
14,41 |
15,65 |
4,18 |
|
Return/ Sales |
% |
9,23 |
7,69 |
9,53 |
3,46 |
|
Extra Management revenues/charges incid. |
% |
64,93 |
61,85 |
64,60 |
27,96 |
|
Cash Flow |
Value |
138.328 |
99.093 |
113.089 |
44.823 |
|
Operating Profit |
Value |
180.403 |
119.417 |
143.069 |
74.603 |
|
Gross Operating Margin |
Value |
201.591 |
144.646 |
163.737 |
111.383 |
|
MANAGEMENT |
|
|
|
|
|
|
Credits to clients average term |
Days |
87,65 |
n.c. |
44,57 |
113,70 |
|
Debts to suppliers average term |
Days |
22,71 |
n.c. |
70,61 |
118,14 |
|
Average stock waiting period |
Days |
n.c. |
n.c. |
n.c. |
72,90 |
|
Rate of capital employed return ( Turnover ) |
Units |
1,49 |
1,87 |
1,64 |
1,25 |
|
Rate of stock return |
Units |
n.c. |
n.c. |
n.c. |
4,88 |
|
Labour cost incidence |
% |
2,90 |
3,38 |
2,34 |
8,14 |
|
Net financial revenues/ charges incidence |
% |
-0,08 |
-0,20 |
-0,32 |
-1,38 |
|
Labour cost on purchasing expenses |
% |
3,18 |
3,64 |
2,49 |
8,25 |
|
Short-term financing charges |
% |
0,34 |
0,78 |
0,82 |
2,76 |
|
Capital on hand |
% |
67,07 |
53,40 |
60,91 |
79,85 |
|
Sales pro employee |
Value |
1.953.872 |
1.552.379 |
1.500.796 |
397.742 |
|
Labour cost pro employee |
Value |
56.677 |
52.444 |
35.172 |
33.267 |
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.
|
Population living in the province |
: |
829.418 |
|
Population living in the region |
: |
4.699.950 |
|
Number of families in the region |
: |
1.813.210 |
Monthly family expences average in the region (in Eur..) :
|
- per food products |
: |
456 |
|
- per non food products |
: |
2.052 |
|
- per energy consume |
: |
127 |
The values are calculated on a base of 9.175 significant companies.
The companies cash their credits on an average of 114 dd.
The average duration of suppliers debts is about 118 dd.
The sector's profitability is on an average of 2,03%.
The labour cost affects the turnover in the measure of 8,14%.
Goods are held in stock in a range of 73 dd.
The difference between the sales volume and the resources used to realize it is about 1,25.
The employees costs represent the 8,25% of the production costs.
Statistcally the trade activity shows periods of crisis.
The area is statistically considered lowly risky.
In the region 13.782 protested subjects are found; in the province they count to 2.633.
The insolvency index for the region is 0,30, , while for the province it is 0,32.
Total Bankrupt companies in the province : 2.924.
Total Bankrupt companies in the region : 16.714.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.34 |
|
|
1 |
Rs.103.44 |
|
Euro |
1 |
Rs.81.96 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.