MIRA INFORM REPORT

 

 

Report Date :

17.12.2014

 

IDENTIFICATION DETAILS

 

Name :

TECNOEXAMINA S.P.A.

 

 

Registered Office :

Via Ghiarola Vecchia, 91, 41042 - Fiorano Modenese (MO) -IT-

 

 

Country :

Italy

 

 

Financials (as on) :

31.12.2012

 

 

Date of Incorporation :

01.02.1999

 

 

Legal Form :

Joint Stock Company

 

 

Line of Business :

Manufacture of Other General-Purpose Machinery

 

 

No of Employees :

From 16 to 25

 

 

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 – September 30, 2014

 

Country Name

Previous Rating

(30.06.2014)

Current Rating

(30.09.2014)

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

 

 

Company name & address

 

TECNOEXAMINA S.P.A.

Via Ghiarola Vecchia,    91

41042 - Fiorano Modenese (MO) -IT-

 

 

Summary

 

Fiscal Code

:

01477330508

Legal Form

:

Joint stock company

Establishment Date

:

01/02/1999

Equity

:

Over 2.582.254

Turnover Range

:

25.000.000/35.000.000

Number of Employees

:

from 16 to 25

 

 

Activity

 

Manufacture of other general-purpose machinery



Legal Data


Legal Form : Joint stock company

Fiscal Code : 01477330508

 

Chamber of Commerce no. : 313847 of Modena since 09/11/2000

 

Chamber of Commerce no. : 130568 of Pisa

 

Firms' Register : MO-2000-50649 of Modena

 

Firms' Register : PI-1999-5970 of Pisa

 

V.A.T. Code : 02675600361

 

Establishment date

: 01/02/1999

Legal duration

: 31/12/2030

Nominal Capital

: 250.000

 

Subscribed Capital

: 250.000

 

Paid up Capital

: 250.000

 



Members

Tioli

Villiam

 

 

Born in Modena

(MO)

on 21/07/1952

- Fiscal Code : TLIWLM52L21F257F

 

 

Residence:

 

Muratori

, 20

- 41124

Modena

(MO)

- IT -

 

Position

Since

Shares Amount

% Ownership

Director

28/05/2013

 

 



Ferrari

Paola

 

 

Born in Sassuolo

(MO)

on 01/08/1967

- Fiscal Code : FRRPLA67M41I462Z

 

 

Residence:

 

Salvarola

, 69

- 41049

Sassuolo

(MO)

- IT -

 

Position

Since

Shares Amount

% Ownership

Director

28/05/2013

 

 

Assistant board Chairman

28/05/2013

 

 

 

No Prejudicial events are reported

 

No Protests registered

 

Ferrari

Giancarlo

 

 

Born in Reggio Emilia

(RE)

on 08/08/1939

- Fiscal Code : FRRGCR39M08H223K

 

 

Residence:

 

Salvarola

, 67

- 41049

Sassuolo

(MO)

- IT -

 

Position

Since

Shares Amount

% Ownership

Director

28/05/2013

 

 

Board Chairman

28/05/2013

 

 

 

No Prejudicial events are reported

 

No Protests registered

 

Ferrari

Donatella

 

 

Born in Sassuolo

(MO)

on 04/06/1966

- Fiscal Code : FRRDTL66H44I462P

 

 

Residence:

 

Salvarola

, 57/B

- 41049

Sassuolo

(MO)

- IT -

 

Position

Since

Shares Amount

% Ownership

Director

28/05/2013

 

 



Carra

Davide

 

 

Born in Carpi

(MO)

on 18/09/1966

- Fiscal Code : CRRDVD66P18B819C

 

 

Residence:

 

Peschiera

, 11

- 41125

Modena

(MO)

- IT -

 

Position

Since

Shares Amount

% Ownership

Director

28/05/2013

 

 



Gruppo Tecnoferrari Spa

 

 

 

 

Position

Since

Shares Amount

% Ownership

Partner

 

 

 

 

No Prejudicial events are reported

 

No Protests registered

 

Timone Fiduciaria S.p.a.

 

 

 

 

Position

Since

Shares Amount

% Ownership

Partner

 

 

 

 

No Prejudicial events are reported

 

No Protests registered



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.

 

Ferrari

Paola

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

Tecnoferrari S.p.a.

Fiorano Modenese (MO) - IT -

01280010362

Managing Director

Withdrawn

Merged

Tecnoferrari S.p.a.

Fiorano Modenese (MO) - IT -

01280010362

Director

Withdrawn

Merged

TECNOTILES S.R.L.

Fiorano Modenese (MO) - IT -

01835990365

Chairman

Withdrawn

Registered

Gruppo Tecnoferrari Spa

Casalgrande (RE) - IT -

01984990364

Managing Director

Active

Registered

Gruppo Tecnoferrari Spa

Casalgrande (RE) - IT -

01984990364

Director

Active

Registered

Effe Immobiliare S.r.l.

Casalgrande (RE) - IT -

02100670351

Managing Director

Active

Registered

Effe Immobiliare S.r.l.

Casalgrande (RE) - IT -

02100670351

Director

Active

Registered

 

Ferrari

Giancarlo

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

Tecnoferrari S.p.a.

Fiorano Modenese (MO) - IT -

01280010362

Chairman

Withdrawn

Merged

Tecnoferrari S.p.a.

Fiorano Modenese (MO) - IT -

01280010362

Managing Director

Withdrawn

Merged

TECNOTILES S.R.L.

Fiorano Modenese (MO) - IT -

01835990365

Managing Director

Withdrawn

Registered

Gruppo Tecnoferrari Spa

Casalgrande (RE) - IT -

01984990364

Managing Director

Active

Registered

Gruppo Tecnoferrari Spa

Casalgrande (RE) - IT -

01984990364

Director

Active

Registered

Gruppo Tecnoferrari Spa

Casalgrande (RE) - IT -

01984990364

Board Chairman

Active

Registered

Effe Immobiliare S.r.l.

Casalgrande (RE) - IT -

02100670351

Managing Director

Active

Registered

Effe Immobiliare S.r.l.

Casalgrande (RE) - IT -

02100670351

Director

Active

Registered

Effe Immobiliare S.r.l.

Casalgrande (RE) - IT -

02100670351

Board Chairman

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

Cofircont - Compagnia Fiduciaria S.p.a.

 

02589350152

37.500 .Eur

15,00

Gruppo Tecnoferrari Spa

 

01984990364

150.000 .Eur

60,00

Timone Fiduciaria S.p.a.

 

05103510151

62.500 .Eur

25,00



Direct Participations

 

The Company under review has no participations in other Companies.




Firm's location and structure

 

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

 

-

Legal and operative seat

 

 

 

 

 

 

 

Ghiarola Vecchia

, 91

- 41042

- Fiorano Modenese

(MO)

- IT -

 

 

 

 

Employees

: 22

 

Fittings and Equipment for a value of 2.000

Eur

 

Stocks for a value of 70.000

Eur

 

 

 

Historical Information and/or Firm's Status

 

EX-MEMBERS / EX-POSITIONS:

 

Annovi

Luigi

 

 

Born in Formigine

(MO)

on 04/03/1940

- Fiscal Code : NNVLGU40C04D711D

 

 

Residence:

 

G.galilei

, 24

- 41040

Formigine

(MO)

- IT -

 

Ex-Postions

Director

 

Ferraguti

Romano

 

 

Born in Modena

(MO)

on 21/10/1948

- Fiscal Code : FRRRMN48R21F257P

 

 

Residence:

 

Panaro

, 8

- 41043

Formigine

(MO)

- IT -

 

Ex-Postions

Director

 

 

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.

Financial and Economical Analysis

 

Company's starting of activities dates back to 1999.

The eonomic-financial analysis is based on the latest 3 b/s.

Under an economic point of view, profits were registered during the last years with a r.o.e. of 45,67% in 2012 with a good increase in turnover (more then 100% in 2012 compared to 2011 and more then 100% in 2011 compared to 2010).

The operating result was positive in the last financial year (13,58%) and in line with the sector's average.

An operating result of Eur. 2.527.620 has been registered. rising (+more then 100%) in relation to the previous year.

The gross operating margin of the latest financial year is of Eur. 2.600.731 showing an upward trend if compared to 2011.

The analysis shows a fair financial position as the indebtedness volume is acceptable (3,04) yet on the increase as against the previous accounting period.

It's shareholders funds amount to Eur. 3.818.531 with a growth of 71,01% in 2012.

Total debts (both short and M/L term) equals Eur. 14.497.290, , showing an upward trend if compared to 2011.

The financial exposure is moderate, on the other hand the recourse to commercial credit is high, with a high average payment period besides being higher than sector's average.

Liquid assets are good.

Due from customers average term is high and equal to 95 days. but in line with the sector.

During financial year 2012 the cash flow amounted to Eur. 1.817.214

During 2012 financial year labour costs amounted to Eur. 1.578.405, with a 6,31% incidence on production costs. and a 5,74% incidence on sales volumes.

No incidence of financial charges as lower than the incomes.

 

Financial Data

 

 

Complete balance-sheet for the year

al 31/12/2012

(in Eur

x 1)

 

Item Type

Value

Sales

27.487.477

Profit (Loss) for the period

1.744.103

 

 

Complete balance-sheet for the year

al 31/12/2011

(in Eur

x 1)

 

Item Type

Value

Sales

12.307.994

Profit (Loss) for the period

798.467

 

 

Complete balance-sheet for the year

al 31/12/2010

(in Eur

x 1)

 

Item Type

Value

Sales

5.027.047

Profit (Loss) for the period

480.576



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 31/12/2012 - 12 Mesi - Currency: - Amounts x 1

 

- Balance Sheet as at 31/12/2011 - 12 Mesi - Currency: - Amounts x 1

 

- Balance Sheet as at 31/12/2010 - 12 Mesi - Currency: - Amounts x 1

 

Years

2012

2011

2010

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.

 

 

 

. . Industrial patent rights

680

 

 

. . Concessions,licenses,trademarks,etc.

1.632

 

 

. . Goodwill

 

 

 

. . Assets in formation and advance paymen.

 

 

 

. . Other intangible fixed assets

1.789

 

 

. Total Intangible Fixed Assets

4.101

5.880

8.997

. TANGIBLE FIXED ASSETS

 

 

 

. . Real estate

 

 

 

. . Plant and machinery

575

 

 

. . Industrial and commercial equipment

311

 

 

. . Other assets

31.166

 

 

. . Assets under construction and advances

 

 

 

. Total Tangible fixed assets

32.052

18.604

12.937

. FINANCIAL FIXED ASSETS

 

 

 

. . Equity investments

5

 

 

. . . Equity invest. in subsidiary companies

 

 

 

. . . Equity invest. in associated companies

 

 

 

. . . Equity invest. in holding companies

 

 

 

. . . Equity invest. in other companies

5

 

 

. . Financial receivables

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . . Receivab due from subsidiaries

 

 

 

. . . . Within 12 months

 

 

 

. . . . 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

 

 

 

. . Own shares

 

 

 

. . . Total nominal value

 

 

 

. Total financial fixed assets

5

5

5

Total fixed assets

36.158

24.489

21.939

CURRENT ASSETS

 

 

 

. INVENTORIES

 

 

 

. . Raw materials and other consumables

150

 

 

. . Work in progress and semimanufactured

 

 

 

. . Work in progress on order

 

 

 

. . Finished goods

69.924

 

 

. . Advance payments

 

 

 

. Total Inventories

70.074

10.131

156.967

. CREDITS NOT HELD AS FIXED ASSETS

 

 

 

. . Within 12 months

15.577.298

7.426.363

3.555.167

. . Beyond 12 months

20.245

2.763

2.763

. . Trade receivables

7.253.972

1.738.274

 

. . . . Within 12 months

7.253.972

1.738.274

 

. . . . Beyond 12 months

 

 

 

. . Receivables due from subsid. comp.

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Receivables due from assoc. comp.

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Receivables due from holding comp.

6.243.415

4.497.245

 

. . . . Within 12 months

6.243.415

4.497.245

 

. . . . Beyond 12 months

 

 

 

. . Fiscal Receivables

2.074.564

552.620

 

. . . . Within 12 months

2.054.319

552.620

 

. . . . Beyond 12 months

20.245

 

 

. . Receivables for anticipated taxes

15.700

15.700

 

. . . . Within 12 months

15.700

15.700

 

. . . . Beyond 12 months

 

 

 

. . Receivables due from third parties

9.892

625.287

 

. . . . Within 12 months

9.892

622.524

 

. . . . Beyond 12 months

 

2.763

 

. Total Credits not held as fixed assets

15.597.543

7.429.126

3.557.930

. 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

2.905.704

 

 

. . Checks

 

 

 

. . Banknotes and coins

276

 

 

. Total Liquid funds

2.905.980

689.992

470.140

Total current assets

18.573.597

8.129.249

4.185.037

ADJUSTMENT ACCOUNTS

 

 

 

. Discount on loans

9.023

 

 

. Other adjustment accounts

 

880

2.121

Total adjustments accounts

9.023

880

2.121

TOTAL ASSETS

18.618.778

8.154.618

4.209.097

 

 

 

 

LIABILITIES

 

 

 

STOCKHOLDERS' EQUITY

 

 

 

. Capital stock

250.000

250.000

250.000

. Additional paid-in capital

500.000

500.000

500.000

. Revaluation reserves

 

 

 

. Legal reserve

50.000

44.029

20.000

. Reserve for Own shares

 

 

 

. Statute reserves

 

 

 

. Other reserves

1.274.428

640.432

280.000

. Accumulated Profits (Losses)

 

 

 

. Profit( loss) of the year

1.744.103

798.467

480.576

. Advances on dividends

 

 

 

. Partial loss of the year Coverage

 

 

 

Total Stockholders'Equity

3.818.531

2.232.928

1.530.576

RESERVES FOR RISKS AND CHARGES

 

 

 

. . Reserve for employee termination indem.

 

 

 

. . Taxation fund, also differed

 

 

 

. . Other funds

50.000

 

 

Total Reserves for Risks and Charges

50.000

50.000

 

Employee termination indemnities

152.756

112.733

104.783

ACCOUNTS PAYABLE

 

 

 

. . . . Within 12 months

14.497.290

5.715.969

2.529.010

. . . . Beyond 12 months

 

 

 

. . Bonds

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Convertible bonds repayable

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Due to shareholders for financing

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Due to banks

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Due to other providers of finance

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Advances from customers

793.650

 

 

. . . . Within 12 months

793.650

 

 

. . . . Beyond 12 months

 

 

 

. . Trade payables

378.183

81.541

 

. . . . Within 12 months

378.183

81.541

 

. . . . Beyond 12 months

 

 

 

. . Securities issued

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Due to subsidiary companies

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Due to associated companies

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Due to holding companies

12.292.741

5.099.171

 

. . . . Within 12 months

12.292.741

5.099.171

 

. . . . Beyond 12 months

 

 

 

. . Due to the tax authorities

893.878

465.878

 

. . . . Within 12 months

893.878

465.878

 

. . . . Beyond 12 months

 

 

 

. . Due to social security and welfare inst.

63.294

36.079

 

. . . . Within 12 months

63.294

36.079

 

. . . . Beyond 12 months

 

 

 

. . Other payables

75.544

33.300

 

. . . . Within 12 months

75.544

33.300

 

. . . . Beyond 12 months

 

 

 

Total accounts payable

14.497.290

5.715.969

2.529.010

ADJUSTMENT ACCOUNTS

 

 

 

. Agio on loans

100.201

 

 

. Other adjustment accounts

 

42.988

44.728

Total adjustment accounts

100.201

42.988

44.728

TOTAL LIABILITIES

18.618.778

8.154.618

4.209.097

 

 

 

 

 

 

 

 

 

 

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

27.487.477

12.307.994

5.027.047

. Changes in work in progress

66.584

-84.824

-88.100

. Changes in semi-manufact. products

 

 

 

. Capitalization of internal work

 

 

 

. Other income and revenues

186

119

3.970

. . Contributions for operating expenses

186

119

3.970

. . Different income and revenues

 

 

 

Total value of production

27.554.247

12.223.289

4.942.917

PRODUCTION COSTS

 

 

 

. Raw material,other materials and consum.

22.023.652

8.886.801

2.916.208

. Services received

1.180.951

623.882

315.250

. Leases and rentals

18.066

21.080

42.298

. Payroll and related costs

1.578.405

1.271.577

837.056

. . Wages and salaries

1.076.203

674.828

443.201

. . Social security contributions

285.463

191.249

139.842

. . Employee termination indemnities

48.468

41.421

28.675

. . Pension and similar

 

 

 

. . Other costs

168.271

364.079

225.338

. Amortization and depreciation

73.111

39.832

26.499

. . Amortization of intangible fixed assets

1.779

3.117

5.471

. . Amortization of tangible fixed assets

7.510

5.234

4.995

. . Depreciation of tangible fixed assets

 

 

 

. . Writedown of current receiv.and of liquid

63.822

31.481

16.033

. Changes in raw materials

6.641

62.012

58.957

. Provisions to risk reserves

 

50.000

 

. Other provisions

 

 

 

. Other operating costs

145.801

59.995

7.635

Total production costs

25.026.627

11.015.179

4.203.903

Diff. between value and cost of product.

2.527.620

1.208.110

739.014

FINANCIAL INCOME AND EXPENSE

 

 

 

. Income from equity investments

 

 

 

. . In subsidiary companies

 

 

 

. . In associated companies

 

 

 

. . In other companies

 

 

 

. Other financial income

28.676

15.426

3.167

. . 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

 

 

3.167

. . . - Subsidiary companies

 

 

 

. . . - Associated companies

 

 

 

. . . - Holding companies

 

 

 

. . . - Other companies

 

 

3.167

. Interest and other financial expense

710

-482

-9

. . Towards subsidiary companies

 

 

 

. . Towards associated companies

 

 

 

. . Towards holding companies

 

 

 

. . Towards other companies

 

 

9

Total financial income and expense

29.386

14.944

3.158

ADJUSTMENTS TO FINANCIAL ASSETS

 

 

 

. Revaluations

 

 

 

. . Of equity investments

 

 

 

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

 

 

 

. . Of securities incl.among current assets

 

 

 

. Devaluation

 

 

 

. . Of equity investments

 

 

 

. . Of financial fixed assets (no equity inv)

 

 

 

. . Of securities included among current ass

 

 

 

Total adjustments to financial assets

 

 

 

EXTRAORDINARY INCOME AND EXPENSE

 

 

 

. Extraordinary income

18.898

826

970

. . Gains on disposals

 

 

834

. . Other extraordinary income

18.898

826

136

. Extraordinary expense

-12

-348

-57

. . Losses on disposals

 

 

 

. . Taxes relating to prior years

-12

-348

-57

. . Other extraordinary expense

 

 

 

Total extraordinary income and expense

18.886

478

913

Results before income taxes

2.575.892

1.223.532

743.085

. Taxes on current income

831.789

425.065

262.509

. . current taxes

831.789

440.765

176.624

. . differed taxes(anticip.)

 

-15.700

85.885

. Net income for the period

1.744.103

798.467

480.576

. Adjustments in tax regulations pursuance

 

 

 

. Provisions in tax regulations pursuance

 

 

 

. Profit (loss) of the year

1.744.103

798.467

480.576

 

RATIOS

Value Type

as at 31/12/2012

as at 31/12/2011

as at 31/12/2010

Sector Average

COMPOSITION ON INVESTMENT

 

 

 

 

 

Rigidity Ratio

Units

0,00

0,00

0,01

0,18

Elasticity Ratio

Units

1,00

1,00

0,99

0,79

Availability of stock

Units

0,00

0,00

0,04

0,21

Total Liquidity Ratio

Units

0,99

1,00

0,96

0,52

Quick Ratio

Units

0,16

0,08

0,11

0,03

COMPOSITION ON SOURCE

 

 

 

 

 

Net Short-term indebtedness

Units

3,04

2,25

1,35

3,01

Self Financing Ratio

Units

0,21

0,27

0,36

0,19

Capital protection Ratio

Units

0,48

0,53

0,52

0,66

Liabilities consolidation quotient

Units

0,01

0,02

0,04

0,16

Financing

Units

3,80

2,56

1,65

3,56

Permanent Indebtedness Ratio

Units

0,21

0,29

0,39

0,34

M/L term Debts Ratio

Units

0,01

0,01

0,02

0,10

Net Financial Indebtedness Ratio

Units

0,00

0,00

n.c.

0,69

CORRELATION

 

 

 

 

 

Fixed assets ratio

Units

109,83

95,78

74,54

1,65

Current ratio

Units

1,28

1,42

1,65

1,18

Acid Test Ratio-Liquidity Ratio

Units

1,28

1,42

1,59

0,86

Structure's primary quotient

Units

105,61

91,18

69,77

1,02

Treasury's primary quotient

Units

0,20

0,12

0,19

0,06

Rate of indebtedness ( Leverage )

%

487,59

365,20

275,00

509,92

Current Capital ( net )

Value

4.076.307

2.413.280

1.656.027

330.495

RETURN

 

 

 

 

 

Return on Sales

%

6,61

6,81

10,09

3,79

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

%

45,67

35,76

31,40

6,70

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

%

67,46

54,79

48,55

18,82

Return on Investment ( R.O.I. )

%

13,58

14,82

17,56

4,89

Return/ Sales

%

9,20

9,82

14,70

4,78

Extra Management revenues/charges incid.

%

69,00

66,09

65,03

29,96

Cash Flow

Value

1.817.214

838.299

507.075

165.166

Operating Profit

Value

2.527.620

1.208.110

739.014

225.594

Gross Operating Margin

Value

2.600.731

1.297.942

765.513

376.080

MANAGEMENT

 

 

 

 

 

Credits to clients average term

Days

95,00

50,84

n.c.

111,07

Debts to suppliers average term

Days

196,43

195,67

n.c.

127,44

Average stock waiting period

Days

0,92

0,30

11,24

62,88

Rate of capital employed return ( Turnover )

Units

1,48

1,51

1,19

1,10

Rate of stock return

Units

392,26

1214,88

32,03

5,58

Labour cost incidence

%

5,74

10,33

16,65

18,94

Net financial revenues/ charges incidence

%

0,11

0,12

0,06

-1,15

Labour cost on purchasing expenses

%

6,31

11,54

19,91

18,99

Short-term financing charges

%

n.c.

0,01

0,00

2,55

Capital on hand

%

67,74

66,25

83,73

90,89

Sales pro employee

Value

1.249.430

315.589

193.347

199.007

Labour cost pro employee

Value

71.745

32.604

32.194

34.820

 

 

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

:

659.925

Population living in the region

:

4.151.369

Number of families in the region

:

1.748.359

 

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

 

- per food products

:

425

- per non food products

:

2.063

- per energy consume

:

143

Sector Data

 

The values are calculated on a base of 1.964 significant companies.

The companies cash their credits on an average of 111 dd.

The average duration of suppliers debts is about 127 dd.

The sector's profitability is on an average of 3,79%.

The labour cost affects the turnover in the measure of 18,94%.

Goods are held in stock in a range of 63 dd.

The difference between the sales volume and the resources used to realize it is about 1,10.

The employees costs represent the 18,99% of the production costs.



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 3.557.

The insolvency index for the region is 0,46, , while for the province it is 0,55.

Total Bankrupt companies in the province : 2.526.

Total Bankrupt companies in the region : 14.698.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.41

UK Pound

1

Rs.99.31

Euro

1

Rs.79.00

 

 

INFORMATION DETAILS

 

Analysis Done by :

RAS

 

 

Report Prepared by :

TPT

 

 

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.