MIRA INFORM REPORT

 

 

Report Date :

31.12.2014

 

IDENTIFICATION DETAILS

 

Name :

REGGIANA RIDUTTORI - S.R.L.

 

 

Registered Office :

Via Martiri Di Marzabotto, 7, 42020 - San Polo d'Enza (RE) -IT-

 

 

Country :

Italy

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

19.09.1979

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Manufacture of other parts and accessories for motor vehicles and their engines

 

 

No. of Employee :

From 251 to 500

 

 

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 – 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

 

REGGIANA RIDUTTORI - S.R.L.

Via Martiri Di Marzabotto, 7

42020 - San Polo d'Enza (RE) -IT-

 

 

Summary

 

Fiscal Code

:

00634700355

Legal Form

:

Limited liability company

start of Activities

:

19/09/1979

Equity

:

Over 2.582.254

Turnover Range

:

50.000.000/75.000.000

Number of Employees

:

from 251 to 500

 

 

Activity

 

Manufacture of other parts and accessories for motor vehicles and their engines

 

Legal Data

 

Legal Form : Limited liability company

Fiscal Code : 00634700355

 

Foreign Trade Reg. no. : 9121 of Reggio Emilia since 06/12/1991

 

Foreign Trade Reg. no. : 009121 of Reggio Emilia since 06/12/1991

 

Chamber of Commerce no. : 144340 of Reggio Emilia since 27/11/1979

 

Firms' Register : RE033-9112 of Reggio Emilia since 19/02/1996

 

V.A.T. Code : 00634700355

 

Tribunal Co. Register : 9122 of

 

Foundation date

: 19/09/1979

Establishment date

: 19/09/1979

Start of Activities

: 19/09/1979

Legal duration

: 31/12/2050

Nominal Capital

: 6.000.000

 

Subscribed Capital

: 6.000.000

 

Paid up Capital

: 6.000.000

 

 

Members

 

\\vivek\Foreign Report Raw2\301499_files\Verde.gif

Albarelli

Giannicola

 

\\vivek\Foreign Report Raw2\301499_files\Vuoto.gif

 

Born in Reggio Emilia

(RE)

on 08/12/1967

- Fiscal Code : LBRGNC67T08H223N

 

\\vivek\Foreign Report Raw2\301499_files\Vuoto.gif

 

Residence:

 

Brancati

, 4

- 42123

Reggio Emilia

(RE)

- IT -

 

Position

Since

Shares Amount

% Ownership

Sole Director

05/02/1997

 

 

 

\\vivek\Foreign Report Raw2\301499_files\Vuoto.gif

No Prejudicial events are reported

 

\\vivek\Foreign Report Raw2\301499_files\Vuoto.gif

No Protests registered

 

\\vivek\Foreign Report Raw2\301499_files\Verde.gif

Reggiana Finanziaria - S.r.l.

 

 

 

 

Position

Since

Shares Amount

% Ownership

Partner

 

 

 

 

\\vivek\Foreign Report Raw2\301499_files\Vuoto.gif

No Prejudicial events are reported

 

\\vivek\Foreign Report Raw2\301499_files\Vuoto.gif

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.

 

\\vivek\Foreign Report Raw2\301499_files\Verde.gif

Albarelli

Giannicola

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

Iteco - Societa' Per Azioni

Pegognaga (MN) - IT -

00511910358

Director

Withdrawn

Registered

Iteco - Societa' Per Azioni

Pegognaga (MN) - IT -

00511910358

Sole Director

Withdrawn

Registered

Iteco - Societa' Per Azioni

Pegognaga (MN) - IT -

00511910358

Board Chairman

Withdrawn

Registered

Rr Service S.r.l.

Bibbiano (RE) - IT -

02090090966

Sole Director

Withdrawn

Registered

Fidindustria Emilia Romagna Societa' Cooperativa

Bologna (BO) - IT -

92003300370

Director

Active

Registered

Cofire

Reggio Emilia (RE) - IT -

80003840354

Director

Withdrawn

Registered

Apiexport, Consorzio Promozionale Per LeEsportazioni Delle Pic- Cole E Medie In

Reggio Emilia (RE) - IT -

01460120353

Director

Withdrawn

Registered

Rr Veneto S.r.l.

Pernumia (PD) - IT -

01402040289

Sole Director

Withdrawn

Registered

Reggiana Finanziaria - S.r.l.

Reggio Emilia (RE) - IT -

00259500353

Sole Director

Active

Registered

Reggiana Finanziaria - S.r.l.

Reggio Emilia (RE) - IT -

00259500353

Sole partner

Active

Registered

All Mark - S.r.l.

Reggio Emilia (RE) - IT -

00906070354

Sole Director

Active

Registered

Hpp S.r.l.

Bibbiano (RE) - IT -

01591120355

Sole Director

Withdrawn

Registered

"s.n.c.-o.m.i.-di Casoli Lidia E C." InLiquidazione

Reggio Emilia (RE) - IT -

00149390353

Partner

Withdrawn

Ceased

Immpeg S.r.l.

Reggio Emilia (RE) - IT -

01889330351

Sole Director

Active

Registered

Alliance Transmission S.r.l.

Modena (MO) - IT -

02681880361

Sole Director

Withdrawn

Registered

General Wrap S.r.l.

Monza (MB) - IT -

03069440968

Sole Director

Withdrawn

Ceased

Finteco S.r.l.

Reggio Emilia (RE) - IT -

01967710359

Sole Director

Active

Registered

Rr International Srl

Reggio Emilia (RE) - IT -

02214670354

Sole Director

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

Albarelli Giannicola

Reggio Emilia - IT -

LBRGNC67T08H223N

43.680 .Eur

0,72

Reggiana Finanziaria - S.r.l.

 

00259500353

5.956.320 .Eur

99,27

 

 

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

Matilde Di Canossa Golf - S.p.a.

Reggio Emilia - IT -

01278170350

9.920 .Eur

0,29

 

 

Active

 

Firm's location and structure

 

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

 

-

Legal and operative seat

 

since 07/07/1982

 

 

 

 

 

 

Martiri Di Marzabotto

, 7

- 42020

- San Polo d'Enza

(RE)

- IT -

 

 

 

 

PHONE

: 0522259111

 

 

 

 

FAX

: 0522874321

 

-

Branch

(Factory)

since 02/03/2013

 

 

 

 

 

 

M. Di Marzabotto

, 9/A

- 42020

- San Polo d'Enza

(RE)

- IT -

 

-

Branch

(Factory)

since 05/03/2013

 

 

 

 

 

 

C. Prampolini

, 11

- 42020

- San Polo d'Enza

(RE)

- IT -

 

 

 

 

Employees

: 275

 

 

 

 

Assistants

: 2

 

Fittings and Equipment for a value of 5.960.000

Eur

 

Stocks for a value of 12.870.000

Eur

 

Furniture and fittings for a value of 52.000

Eur

 

Vehicles: 7.

 

 

Historical Information and/or Firm's Status

 

COMPANY STYLE MODIFICATIONS:

 

Former Style

New Style

Changement Date

RR. OMI Reggiana Riduttori Officina Meccanica Ingranaggi Srl

 

07/07/1982

 

EX-MEMBERS / EX-POSITIONS:

 

\\vivek\Foreign Report Raw2\301499_files\Rosso.gif

FERRARI

MAURIZIO

 

\\vivek\Foreign Report Raw2\301499_files\Vuoto.gif

 

Born in NOVELLARA

(RE)

on 21/09/1948

- Fiscal Code : FRRMRZ48P21F960I

 

\\vivek\Foreign Report Raw2\301499_files\Vuoto.gif

 

Residence:

 

VICEDOMINI

, 14

- 42100

Reggio Emilia

(RE)

- IT -

 

Ex-Postions

General Director

 

\\vivek\Foreign Report Raw2\301499_files\Rosso.gif

Ferrari

Maurizio

 

\\vivek\Foreign Report Raw2\301499_files\Vuoto.gif

 

Born in Novellara

(RE)

on 21/09/1948

- Fiscal Code : FRRMRZ48P21F960I

 

\\vivek\Foreign Report Raw2\301499_files\Vuoto.gif

 

Residence:

 

Vicedomini

, 14

- 42100

Reggio Emilia

(RE)

- IT -

 

Ex-Postions

General Director

 

\\vivek\Foreign Report Raw2\301499_files\Rosso.gif

Albarelli

Franco

 

\\vivek\Foreign Report Raw2\301499_files\Vuoto.gif

 

Born in Casalgrande

(RE)

on 04/07/1943

- Fiscal Code : LBRFNC43L04B892V

 

Ex-Postions

Sole Director

 

Protests

 

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

 

 

Data Base Prejudicial Events Search

 

Search performed on a National Scale

 

\\vivek\Foreign Report Raw2\301499_files\Verde.gif

 

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

 

Subject is active since 1979

Balance sheets for the years 2011, 2012 and 2013 were analyzed.

During the last years, it recorded positive net results (r.o.e. 17,38% in 2013)

The operating result in 2013 was positive (13,17%) and reflects the field's average.

The amount of the operating result for the year 2013 is of Eur. 8.605.509 with no increase in relation to the financial year 2012.

The economic management produced a gross operating margin of Eur. 11.496.037 , stable if compared to the year before.

Very good financial situation: shareholder's equity covers short-terms debts with an indebtedness level equal to 0,19 improved in comparison with the year before (0,26.).

The management generated equity capital for an amount of Eur. 31.342.105 , stable in comparison with the value of the previous year.

During the last financial year debts totalled Eur. 31.984.912 (Eur. 11.706.455 of which were m/l term debts) with no important change.

The company does not exceed in bank credits; payments average period is instead slightly high (137,99 gg.) but lined up with the field's average.

Liquidity is good (2,27)

Due from customers average term is high and equal to 104,39 days. within the average values of the sector.

As far as the cash flow is concerned during the latest financial year it amounted to Eur. 8.314.909

In the last financial year labour cost was of Eur. 8.822.312, with a 18,28% incidence on total costs of production. , with a 15,95% incidence on turnover.

Financial charges have a limited incidence (-0,62%) on sales volume.

 

 

Financial Data

 

\\vivek\Foreign Report Raw2\301499_files\Verde.gif

 

Complete balance-sheet for the year

al 31/12/2013

(in Eur

x 1)

 

Item Type

Value

Sales

55.312.635

Profit (Loss) for the period

5.447.078

 

\\vivek\Foreign Report Raw2\301499_files\Verde.gif

 

Complete balance-sheet for the year

al 31/12/2012

(in Eur

x 1)

 

Item Type

Value

Sales

60.187.437

Profit (Loss) for the period

6.385.030

 

\\vivek\Foreign Report Raw2\301499_files\Verde.gif

 

Complete balance-sheet for the year

al 31/12/2011

(in Eur

x 1)

 

Item Type

Value

Sales

65.433.084

Profit (Loss) for the period

4.380.721

 

\\vivek\Foreign Report Raw2\301499_files\Verde.gif

 

Complete balance-sheet for the year

al 31/12/2010

(in Eur

x 1)

 

Item Type

Value

Sales

41.401.660

Profit (Loss) for the period

444.125

 

 

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

 

647

1.294

. . Research,develop. and advert.expens.

 

 

 

. . Industrial patent rights

23.004

54.632

56.114

. . Concessions,licenses,trademarks,etc.

 

 

 

. . Goodwill

378.266

453.920

529.573

. . Assets in formation and advance paymen.

 

 

 

. . Other intangible fixed assets

245.828

283.601

323.998

. Total Intangible Fixed Assets

647.098

792.800

910.979

. TANGIBLE FIXED ASSETS

 

 

 

. . Real estate

9.494.188

9.955.917

10.417.646

. . Plant and machinery

5.361.696

2.836.678

3.038.170

. . Industrial and commercial equipment

599.395

630.734

289.471

. . Other assets

231.300

204.379

252.472

. . Assets under construction and advances

548.610

89.008

146.997

. Total Tangible fixed assets

16.235.189

13.716.716

14.144.756

. FINANCIAL FIXED ASSETS

 

 

 

. . Equity investments

478.261

202.543

187.980

. . . Equity invest. in subsidiary companies

409.074

134.348

119.785

. . . Equity invest. in associated companies

307

307

307

. . . Equity invest. in holding companies

 

 

 

. . . Equity invest. in other companies

68.880

67.888

67.888

. . Financial receivables

1.485.888

3.397.220

4.051.028

. . . . Within 12 months

1.244.234

3.061.332

103.036

. . . . Beyond 12 months

241.654

335.888

3.947.992

. . . Receivab due from subsidiaries

55.200

73.600

456.292

. . . . Within 12 months

18.400

18.400

103.036

. . . . Beyond 12 months

36.800

55.200

353.256

. . . Receivables due from assoc.comp.

280.688

353.256

 

. . . . Within 12 months

75.834

72.568

 

. . . . Beyond 12 months

204.854

280.688

 

. . . Receivables due from holding comp.

1.150.000

2.970.364

3.594.736

. . . . Within 12 months

1.150.000

2.970.364

 

. . . . Beyond 12 months

 

 

3.594.736

. . . Receivables due from third parties

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Other securities

 

 

 

. . Own shares

 

 

 

. . . Total nominal value

 

 

 

. Total financial fixed assets

1.964.149

3.599.763

4.239.008

Total fixed assets

18.846.436

18.109.279

19.294.743

CURRENT ASSETS

 

 

 

. INVENTORIES

 

 

 

. . Raw materials and other consumables

3.175.352

3.764.133

4.299.189

. . Work in progress and semimanufactured

2.774.648

1.701.688

2.287.721

. . Work in progress on order

 

 

 

. . Finished goods

6.920.669

7.002.763

9.039.020

. . Advance payments

 

 

 

. Total Inventories

12.870.669

12.468.584

15.625.930

. CREDITS NOT HELD AS FIXED ASSETS

 

 

 

. . Within 12 months

18.771.806

18.000.868

22.906.508

. . Beyond 12 months

28.391

27.072

 

. . Trade receivables

16.039.576

14.759.515

20.581.440

. . . . Within 12 months

16.039.576

14.759.515

20.581.440

. . . . Beyond 12 months

 

 

 

. . Receivables due from subsid. comp.

1.794

303.898

106.868

. . . . Within 12 months

1.794

303.898

106.868

. . . . 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

 

 

 

. . Fiscal Receivables

841.280

1.231.759

980.376

. . . . Within 12 months

841.280

1.231.759

980.376

. . . . Beyond 12 months

 

 

 

. . Receivables for anticipated taxes

1.741.452

1.596.612

1.039.848

. . . . Within 12 months

1.741.452

1.596.612

1.039.848

. . . . Beyond 12 months

 

 

 

. . Receivables due from third parties

176.095

136.156

197.976

. . . . Within 12 months

147.704

109.084

197.976

. . . . Beyond 12 months

28.391

27.072

 

. Total Credits not held as fixed assets

18.800.197

18.027.940

22.906.508

. 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

14.342.742

11.553.847

9.058.056

. . Checks

1.295

1.306

 

. . Banknotes and coins

5.384

610

22

. Total Liquid funds

14.349.421

11.555.763

9.058.078

Total current assets

46.020.287

42.052.287

47.590.516

ADJUSTMENT ACCOUNTS

 

 

 

. Discount on loans

462.843

 

685.114

. Other adjustment accounts

 

595.186

 

Total adjustments accounts

462.843

595.186

685.114

TOTAL ASSETS

65.329.566

60.756.752

67.570.373

 

 

 

 

LIABILITIES

 

 

 

STOCKHOLDERS' EQUITY

 

 

 

. Capital stock

6.000.000

6.000.000

6.000.000

. Additional paid-in capital

 

 

 

. Revaluation reserves

10.514.656

8.594.844

8.594.844

. Legal reserve

1.129.441

810.141

591.105

. Reserve for Own shares

 

 

 

. Statute reserves

 

 

 

. Other reserves

8.250.930

5.134.965

3.409.490

. Accumulated Profits (Losses)

 

 

 

. Profit( loss) of the year

5.447.078

6.385.030

4.380.721

. Advances on dividends

 

 

 

. Partial loss of the year Coverage

 

 

 

Total Stockholders'Equity

31.342.105

26.924.980

22.976.160

RESERVES FOR RISKS AND CHARGES

 

 

 

. . Reserve for employee termination indem.

 

 

 

. . Taxation fund, also differed

297.031

362.232

429.571

. . Other funds

604.374

580.867

237.589

Total Reserves for Risks and Charges

901.405

943.099

667.160

Employee termination indemnities

1.041.239

1.100.766

1.089.086

ACCOUNTS PAYABLE

 

 

 

. . . . Within 12 months

20.278.457

18.655.547

25.331.756

. . . . Beyond 12 months

11.706.455

13.064.228

17.312.749

. . 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

16.052.185

17.310.165

25.466.705

. . . . Within 12 months

4.345.730

4.245.937

8.153.956

. . . . Beyond 12 months

11.706.455

13.064.228

17.312.749

. . Due to other providers of finance

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Advances from customers

118.640

121.625

27.119

. . . . Within 12 months

118.640

121.625

27.119

. . . . Beyond 12 months

 

 

 

. . Trade payables

11.387.130

9.450.171

12.992.264

. . . . Within 12 months

11.387.130

9.450.171

12.992.264

. . . . Beyond 12 months

 

 

 

. . Securities issued

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Due to subsidiary companies

 

 

52.036

. . . . Within 12 months

 

 

52.036

. . . . Beyond 12 months

 

 

 

. . Due to associated companies

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Due to holding companies

2.299.422

3.163.865

2.097.876

. . . . Within 12 months

2.299.422

3.163.865

2.097.876

. . . . Beyond 12 months

 

 

 

. . Due to the tax authorities

756.779

500.676

628.812

. . . . Within 12 months

756.779

500.676

628.812

. . . . Beyond 12 months

 

 

 

. . Due to social security and welfare inst.

437.586

439.787

479.851

. . . . Within 12 months

437.586

439.787

479.851

. . . . Beyond 12 months

 

 

 

. . Other payables

933.170

733.486

899.842

. . . . Within 12 months

933.170

733.486

899.842

. . . . Beyond 12 months

 

 

 

Total accounts payable

31.984.912

31.719.775

42.644.505

ADJUSTMENT ACCOUNTS

 

 

 

. Agio on loans

 

 

 

. Other adjustment accounts

59.905

68.132

193.462

Total adjustment accounts

59.905

68.132

193.462

TOTAL LIABILITIES

65.329.566

60.756.752

67.570.373

 

 

 

 

 

 

 

 

 

 

MEMORANDUM ACCOUNTS

 

Third party goods

 

 

 

Investment accounts

 

 

 

Risk accounts

 

 

-108.120

Civil and fiscal norms relation

 

 

 

 

 

 

 

 

 

 

 

 

 

PROFIT AND LOSS ACCOUNTS

 

VALUE OF PRODUCTION

 

 

 

. Revenues from sales and services

55.312.635

60.187.437

65.433.082

. Changes in work in progress

990.866

-2.226.859

355.815

. Changes in semi-manufact. products

 

 

 

. Capitalization of internal work

 

 

 

. Other income and revenues

557.742

456.114

1.004.892

. . Contributions for operating expenses

4.000

16.208

518

. . Different income and revenues

553.742

439.906

1.004.374

Total value of production

56.861.243

58.416.692

66.793.789

PRODUCTION COSTS

 

 

 

. Raw material,other materials and consum.

23.922.523

23.073.553

29.573.603

. Services received

 

10.837.745

13.428.583

. Leases and rentals

11.784.969

1.181.710

1.224.396

. Payroll and related costs

8.822.312

8.693.053

9.529.728

. . Wages and salaries

6.283.174

6.231.236

6.932.386

. . Social security contributions

2.024.533

1.932.670

2.033.972

. . Employee termination indemnities

473.881

477.720

491.795

. . Pension and similar

8.463

8.159

10.809

. . Other costs

32.261

43.268

60.766

. Amortization and depreciation

2.867.831

3.663.115

2.842.716

. . Amortization of intangible fixed assets

173.151

184.768

208.519

. . Amortization of tangible fixed assets

2.319.108

1.904.232

2.530.197

. . Depreciation of tangible fixed assets

 

 

 

. . Writedown of current receiv.and of liquid

375.572

1.574.115

104.000

. Changes in raw materials

588.781

535.056

2.219.634

. Provisions to risk reserves

22.697

343.592

237.944

. Other provisions

 

 

 

. Other operating costs

246.621

243.506

278.684

Total production costs

48.255.734

48.571.330

59.335.288

Diff. between value and cost of product.

8.605.509

9.845.362

7.458.501

FINANCIAL INCOME AND EXPENSE

 

 

 

. Income from equity investments

520

219

312

. . In subsidiary companies

 

 

 

. . In associated companies

 

 

 

. . In other companies

520

 

312

. Other financial income

357.733

318.335

172.805

. . Financ.income from receivables

30.104

 

84.522

. . . Towards subsidiary companies

 

 

 

. . . Towards associated companies

30.104

 

84.522

. . . 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

327.629

 

88.283

. . . - Subsidiary companies

 

 

 

. . . - Associated companies

 

 

 

. . . - Holding companies

 

 

 

. . . - Other companies

327.629

 

88.283

. Interest and other financial expense

-703.664

-749.622

-560.487

. . Towards subsidiary companies

 

 

 

. . Towards associated companies

 

 

 

. . Towards holding companies

 

 

 

. . Towards other companies

703.664

 

560.487

Total financial income and expense

-345.411

-431.068

-387.370

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

2

321.466

 

. . Gains on disposals

 

321.466

 

. . Other extraordinary income

2

 

 

. Extraordinary expense

 

 

 

. . Losses on disposals

 

 

 

. . Taxes relating to prior years

 

 

 

. . Other extraordinary expense

 

 

 

Total extraordinary income and expense

2

321.466

 

Results before income taxes

8.260.100

9.735.760

7.071.131

. Taxes on current income

2.813.022

3.350.730

2.690.410

. . current taxes

2.957.862

3.910.022

2.670.028

. . differed taxes(anticip.)

-144.840

-559.292

20.382

. Net income for the period

5.447.078

6.385.030

4.380.721

. Adjustments in tax regulations pursuance

 

 

 

. Provisions in tax regulations pursuance

 

 

 

. Profit (loss) of the year

5.447.078

6.385.030

4.380.721

 

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

0,29

0,30

0,29

0,25

Elasticity Ratio

Units

0,70

0,69

0,70

0,74

Availability of stock

Units

0,20

0,21

0,23

0,21

Total Liquidity Ratio

Units

0,51

0,49

0,47

0,47

Quick Ratio

Units

0,22

0,19

0,13

0,01

COMPOSITION ON SOURCE

 

 

 

 

 

Net Short-term indebtedness

Units

0,19

0,26

0,71

1,91

Self Financing Ratio

Units

0,48

0,44

0,34

0,25

Capital protection Ratio

Units

0,63

0,54

0,55

0,72

Liabilities consolidation quotient

Units

0,63

0,76

0,73

0,20

Financing

Units

1,02

1,18

1,86

2,52

Permanent Indebtedness Ratio

Units

0,67

0,68

0,61

0,40

M/L term Debts Ratio

Units

0,20

0,23

0,27

0,11

Net Financial Indebtedness Ratio

Units

0,05

0,21

0,71

0,37

CORRELATION

 

 

 

 

 

Fixed assets ratio

Units

2,34

2,27

2,14

1,40

Current ratio

Units

2,27

2,25

1,88

1,20

Acid Test Ratio-Liquidity Ratio

Units

1,63

1,59

1,26

0,81

Structure's primary quotient

Units

1,66

1,49

1,19

0,88

Treasury's primary quotient

Units

0,71

0,62

0,36

0,03

Rate of indebtedness ( Leverage )

%

208,44

225,65

294,09

396,60

Current Capital ( net )

Value

25.741.830

23.396.740

22.258.760

739.298

RETURN

 

 

 

 

 

Return on Sales

%

15,03

16,69

11,04

3,87

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

%

17,38

23,71

19,07

2,90

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

%

26,35

36,16

30,78

10,01

Return on Investment ( R.O.I. )

%

13,17

16,20

11,04

3,63

Return/ Sales

%

15,56

16,36

11,40

3,64

Extra Management revenues/charges incid.

%

63,30

64,85

58,73

27,87

Cash Flow

Value

8.314.909

10.048.145

7.223.437

218.595

Operating Profit

Value

8.605.509

9.845.362

7.458.501

183.990

Gross Operating Margin

Value

11.496.037

13.852.069

10.539.161

453.866

MANAGEMENT

 

 

 

 

 

Credits to clients average term

Days

104,39

88,28

113,24

94,73

Debts to suppliers average term

Days

137,99

129,40

123,26

115,71

Average stock waiting period

Days

83,77

74,58

85,97

57,59

Rate of capital employed return ( Turnover )

Units

0,85

0,99

0,97

1,07

Rate of stock return

Units

4,30

4,83

4,19

6,09

Labour cost incidence

%

15,95

14,44

14,56

18,09

Net financial revenues/ charges incidence

%

-0,62

-0,72

-0,59

-1,09

Labour cost on purchasing expenses

%

18,28

17,90

16,06

17,83

Short-term financing charges

%

2,20

2,36

1,31

2,64

Capital on hand

%

118,11

100,95

103,27

93,64

Sales pro employee

Value

201.136

369.248

220.313

185.995

Labour cost pro employee

Value

32.081

53.331

32.086

32.632

 

 

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

:

\\vivek\Foreign Report Raw2\301499_files\Spazio.gif487.003

Population living in the region

:

\\vivek\Foreign Report Raw2\301499_files\Spazio.gif4.151.369

Number of families in the region

:

\\vivek\Foreign Report Raw2\301499_files\Spazio.gif1.748.359

 

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

 

- per food products

:

\\vivek\Foreign Report Raw2\301499_files\Spazio.gif425

- per non food products

:

\\vivek\Foreign Report Raw2\301499_files\Spazio.gif2.063

- per energy consume

:

\\vivek\Foreign Report Raw2\301499_files\Spazio.gif143



Sector Data

 

The values are calculated on a base of 258 significant companies.

The companies cash their credits on an average of 95 dd.

The average duration of suppliers debts is about 116 dd.

The sector's profitability is on an average of 3,87%.

The labour cost affects the turnover in the measure of 18,09%.

Goods are held in stock in a range of 58 dd.

The difference between the sales volume and the resources used to realize it is about 1,07.

The employees costs represent the 17,83% 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 1.775.

The insolvency index for the region is 0,46, , while for the province it is 0,38.

Total Bankrupt companies in the province : 1.365.

Total Bankrupt companies in the region : 14.698.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.75

UK Pound

1

Rs.98.87

Euro

1

Rs.77.32

 

 

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.