|
Report Date : |
11.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
RACHELLI S.P.A. |
|
|
|
|
Registered Office : |
Via Iv Novembre, 7 Cicognara 46019 - Viadana (MN) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
07.01.1986 |
|
|
|
|
Legal Form : |
Joint stock company |
|
|
|
|
Line of Business : |
· Retail sale of hardware, paints, flat glass and building materials in specialised stores · Retail sale of soaps, detergents, polishing products and similars |
|
|
|
|
No. of Employees : |
From 6 to 10 |
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, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
Italy |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
ITALY - ECONOMIC OVERVIEW
Italy has a diversified industrial economy, which is divided into a developed industrial north, dominated by private companies, and a less-developed, highly subsidized, agricultural south, where unemployment is high. The Italian economy is driven in large part by the manufacture of high-quality consumer goods produced by small and medium-sized enterprises, many of them family-owned. Italy also has a sizable underground economy, which by some estimates accounts for as much as 17% of GDP. These activities are most common within the agriculture, construction, and service sectors. Italy is the third-largest economy in the euro-zone, but its exceptionally high public debt and structural impediments to growth have rendered it vulnerable to scrutiny by financial markets. Public debt has increased steadily since 2007, topping 126% of GDP in 2012, and investor concerns about the broader euro-zone crisis at times have caused borrowing costs on sovereign government debt to rise to euro-era. During the second half of 2011 the government passed three austerity packages to reduce its budget deficit and help bring down borrowing costs. These measures included a hike in the value-added tax, pension reforms, and cuts to public administration. The government also faces pressure from investors and European partners to sustain its recent efforts to address Italy's long-standing structural impediments to growth, such as labor market inefficiencies and widespread tax evasion. In 2012 economic growth and labor market conditions deteriorated, with growth at -2.3% and unemployment rising to nearly 11%, with youth unemployment around 35%. The government has undertaken several reform initiatives designed to increase long-term economic growth. Italy's GDP is now 7% below its 2007 pre-crisis level
|
Source
: CIA |
RACHELLI S.P.A.
Via Iv Novembre, 7 CICOGNARA 46019 - Viadana (MN) -IT-
|
Fiscal Code |
: |
01411900200 |
|
Legal Form |
: |
Joint stock company |
|
start of Activities |
: |
07/01/1986 |
|
Equity |
: |
Over 2.582.254 |
|
Turnover Range |
: |
5.000.000/6.500.000 |
|
Number of Employees |
: |
From 6 to 10 |
Retail sale of hardware, paints, flat glass and building materials in specialised stores
Retail sale of soaps, detergents, polishing products and similars
Legal Form : Joint stock company
|
Fiscal Code : 01411900200 |
|
Foreign Trade Reg. no. : MN001262 since 17/12/1991 |
|
Foreign Trade Reg. no. : 1262 of Mantova since 17/12/1991 |
|
Foreign Trade Reg. no. : 001262 of Mantova since 17/12/1991 |
|
Chamber of Commerce no. : 148384 of Cremona |
|
Chamber of Commerce no. : 157078 of Mantova since 14/11/1985 |
|
Firms' Register : MN030-11667 of Mantova since 19/02/1996 |
|
V.A.T. Code : 01411900200 |
|
R. E. C. no. : 19662 of Mantova since 07/01/1986 |
|
R. E. C. no. : 0019662 of Mantova since 07/01/1986 |
|
Tribunal Co. Register : 11667 of since 19/10/1985 |
|
Foundation date |
: 27/09/1985 |
|
|
Establishment date |
: 27/09/1985 |
|
|
Start of Activities |
: 07/01/1986 |
|
|
Legal duration |
: 31/12/2030 |
|
|
Nominal Capital |
: 500.000 |
|
|
Subscribed Capital |
: 500.000 |
|
|
Paid up Capital |
: 500.000 |
|
|
Rachelli |
Maria |
|
|
Born in Viadana |
(MN) |
on 04/05/1957 |
- Fiscal Code : RCHMRA57E44L826G |
|
|
Residence: |
|
Ragazzi Del '99 |
, 24 |
- 46019 |
Viadana |
(MN) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
21/05/2013 |
|
|
|
Board Chairman |
21/05/2013 |
|
|
|
Managing Director |
21/05/2013 |
|
|
|
No Prejudicial events are reported |
|
No Protests registered |
|
Rachelli |
Feliciano |
|
|
Born in Viadana |
(MN) |
on 09/12/1964 |
- Fiscal Code : RCHFCN64T09L826V |
|
|
Residence: |
|
Federico Mompellio |
, 17 |
- 46019 |
Viadana |
(MN) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Managing Director |
21/05/2013 |
|
|
|
Director |
21/05/2013 |
|
|
|
Assistant board Chairman |
21/05/2013 |
|
|
|
No Prejudicial events are reported |
|
No Protests registered |
*checkings have been performed on a national scale.
In this module are listed the companies in which members hold or have holded positions.
|
Rachelli |
Feliciano |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Societa' Agricola Terre Dei Gonzaga S.s. |
Casalmaggiore (CR) - IT - |
01566780191 |
Partner |
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.
Shareholders' list as at date of data collection:
|
Firm's Style / Name |
Seat / Residence |
Fiscal Code |
Owned Shares |
% Ownership |
|
Rachelli Maria |
Viadana - IT - |
RCHMRA57E44L826G |
250.000 .Eur |
50,00 |
|
Rachelli Feliciano |
Viadana - IT - |
RCHFCN64T09L826V |
250.000 .Eur |
50,00 |
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 |
|
since 30/10/1989 |
|
|
|
|
|
|
Iv Novembre |
, 7 |
- 46019 |
- Viadana |
(MN) |
- IT - |
|
|
|
|
Total Surface: 240 Sq.mt. |
|
|
|
|
PHONE |
: 0375599124 |
|
- |
Branch |
(Store) |
since 01/09/1998 |
|
|
|
|
|
|
Einaudi |
, 19/21 |
- 26041 |
- Casalmaggiore |
(CR) |
- IT - |
|
|
|
|
Total Surface: 26 Sq.mt. |
|
|
|
|
PHONE |
: 0375599124 |
|
|
|
|
Employees |
: 8 |
|
Fittings and Equipment for a value of 12.000 |
Eur |
|
Stocks for a value of 1.370.000 |
Eur |
The firm has a direct commercial organization
Sales are mainly addressed to Northern Italy
|
|
The firm operates abroad as importer..
To purchase foreign products the firm uses the following channels :
|
- direct orders to foreign companies |
Import comes generally from the following nations:
|
- France |
|
- Great Britain |
CHANGES TO THE LEGAL FORM:
|
Former legal form |
New legal form |
Changement Date |
|
Limited partnership |
Limited liability company |
24/11/1992 |
|
Limited liability company |
Joint stock company |
22/12/2004 |
COMPANY STYLE MODIFICATIONS:
|
Former Style |
New Style |
Changement Date |
|
Franco Rachelli e C. S.a.s. |
|
31/10/1990 |
|
Rachelli Feliciano e Maria e C. S.a.s. |
|
24/11/1992 |
EX-MEMBERS / EX-POSITIONS:
|
Rachelli |
Maria |
|
|
Born in Viadana |
(MN) |
on 04/05/1957 |
- Fiscal Code : RCHMRA57E44L826G |
|
|
Residence: |
|
Ragazzi Del '99 |
, 24 |
- 46019 |
Viadana |
(MN) |
- IT - |
|
Ex-Postions |
|
Chairman and Managing Director |
|
Rachelli |
Feliciano |
|
|
Born in Viadana |
(MN) |
on 09/12/1964 |
- Fiscal Code : RCHFCN64T09L826V |
|
|
Residence: |
|
Federico Mompellio |
, 17 |
- 46019 |
Viadana |
(MN) |
- IT - |
|
Ex-Postions |
|
Limited Partner |
|
Vice-Chairman |
|
Mantovani |
Sergio |
|
|
Born in Asola |
(MN) |
on 28/09/1943 |
- Fiscal Code : MNTSRG43P28A470A |
|
|
Residence: |
|
Gandolfo |
, 48 |
- 46100 |
Mantova |
(MN) |
- IT - |
|
Ex-Postions |
|
Chairman of the Board of Aud. |
|
Permanent Auditor |
|
The firm succeeded to |
|
|
|
Rachelli Franco |
|
|
|
IV Novembre, fr. Cicognara |
, cm |
, 46019 |
, Viadana |
(MN) |
- IT - |
|
|
Date |
: |
27/09/1985 |
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 1986
The analysis is based on the latest 3 balance sheets.
Under an economic point of view, profits were registered during the last years with a r.o.e. of 4,01% in 2012
The operating result was positive in the last financial year (4,93%) and in line with the sector's average.
An operating result of Eur. 261.826 has been registered. showing a fall as opposed to the previous year (-60,86%).
A gross operating margine for a value of Eur. 302.520 was reached. showing a downward trend as opposed to the previous year.
Indebtedness is scanty since debts are lower than liquidity.
With regard to equity capital, an amount of Eur. 4.295.684 is registered. on stable levels.
The company does not exceed in bank borrowings; the recourse to suppliers' credit is also limited below the sector's average.
Payments are supported by good current assets.
Due from customers average term is high and equal to 143 days. besides being higher than the sector's average.
As far as the cash flow is concerned during the latest financial year it amounted to Eur. 212.767
Labour cost amounts to Eur. 309.227, with a 6,27% incidence on production costs. , with a 6,01% incidence on turnover.
Financial charges have a limited incidence (-0,62%) on sales volume.
|
|
Complete balance-sheet for the year |
31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
5.146.632 |
|
Profit (Loss) for the period |
172.073 |
|
|
Complete balance-sheet for the year |
31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
6.974.939 |
|
Profit (Loss) for the period |
378.639 |
|
|
Complete balance-sheet for the year |
31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
6.338.045 |
|
Profit (Loss) for the period |
356.316 |
|
|
Complete balance-sheet for the year |
31/12/2009 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
5.984.749 |
|
Profit (Loss) for the period |
297.248 |
|
|
Complete balance-sheet for the year |
31/12/2008 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
7.504.744 |
|
Profit (Loss) for the period |
331.939 |
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 |
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
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 |
0,04 |
0,04 |
0,04 |
0,13 |
|
Elasticity Ratio |
Units |
0,96 |
0,96 |
0,95 |
0,85 |
|
Availability of stock |
Units |
0,26 |
0,29 |
0,29 |
0,54 |
|
Total Liquidity Ratio |
Units |
0,70 |
0,67 |
0,67 |
0,22 |
|
Quick Ratio |
Units |
0,28 |
0,21 |
0,14 |
0,04 |
|
COMPOSITION ON SOURCE |
|
|
|
|
|
|
Net Short-term indebtedness |
Units |
n.c. |
0,09 |
0,14 |
4,36 |
|
Self Financing Ratio |
Units |
0,81 |
0,69 |
0,71 |
0,14 |
|
Capital protection Ratio |
Units |
0,84 |
0,79 |
0,77 |
0,56 |
|
Liabilities consolidation quotient |
Units |
0,25 |
0,10 |
0,13 |
0,15 |
|
Financing |
Units |
0,17 |
0,39 |
0,33 |
5,86 |
|
Permanent Indebtedness Ratio |
Units |
0,84 |
0,71 |
0,74 |
0,31 |
|
M/L term Debts Ratio |
Units |
0,03 |
0,03 |
0,03 |
0,10 |
|
Net Financial Indebtedness Ratio |
Units |
0,00 |
0,00 |
0,00 |
0,98 |
|
CORRELATION |
|
|
|
|
|
|
Fixed assets ratio |
Units |
20,23 |
16,82 |
16,79 |
2,02 |
|
Current ratio |
Units |
6,85 |
3,53 |
3,99 |
1,15 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
5,00 |
2,47 |
2,79 |
0,36 |
|
Structure's primary quotient |
Units |
19,40 |
16,17 |
16,10 |
1,06 |
|
Treasury's primary quotient |
Units |
1,97 |
0,77 |
0,57 |
0,07 |
|
Rate of indebtedness ( Leverage ) |
% |
123,74 |
145,63 |
139,96 |
707,22 |
|
Current Capital ( net ) |
Value |
4.336.808 |
4.113.723 |
3.742.243 |
61.776 |
|
RETURN |
|
|
|
|
|
|
Return on Sales |
% |
4,13 |
6,15 |
6,47 |
2,62 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
4,01 |
9,18 |
9,51 |
6,19 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
6,07 |
14,55 |
15,02 |
15,72 |
|
Return on Investment ( R.O.I. ) |
% |
4,93 |
11,14 |
11,34 |
3,25 |
|
Return/ Sales |
% |
5,09 |
9,59 |
9,38 |
2,94 |
|
Extra Management revenues/charges incid. |
% |
65,72 |
56,59 |
59,95 |
31,16 |
|
Cash Flow |
Value |
212.767 |
429.018 |
409.844 |
20.178 |
|
Operating Profit |
Value |
261.826 |
669.096 |
594.354 |
23.558 |
|
Gross Operating Margin |
Value |
302.520 |
719.475 |
647.882 |
40.605 |
|
MANAGEMENT |
|
|
|
|
|
|
Credits to clients average term |
Days |
143,00 |
140,46 |
156,26 |
26,46 |
|
Debts to suppliers average term |
Days |
50,97 |
31,58 |
43,80 |
152,76 |
|
Average stock waiting period |
Days |
95,98 |
89,04 |
85,04 |
158,60 |
|
Rate of capital employed return ( Turnover ) |
Units |
0,97 |
1,16 |
1,21 |
1,10 |
|
Rate of stock return |
Units |
3,75 |
4,04 |
4,23 |
2,21 |
|
Labour cost incidence |
% |
6,01 |
4,64 |
5,04 |
10,29 |
|
Net financial revenues/ charges incidence |
% |
-0,62 |
-1,07 |
-0,51 |
-1,31 |
|
Labour cost on purchasing expenses |
% |
6,27 |
5,08 |
5,48 |
10,25 |
|
Short-term financing charges |
% |
8,13 |
5,74 |
3,04 |
2,10 |
|
Capital on hand |
% |
103,28 |
86,10 |
82,70 |
90,76 |
|
Sales pro employee |
Value |
571.848 |
871.867 |
704.227 |
267.102 |
|
Labour cost pro employee |
Value |
34.358 |
40.424 |
35.470 |
30.754 |
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 |
: |
390.957 |
|
Population living in the region |
: |
9.393.092 |
|
Number of families in the region |
: |
3.858.736 |
Monthly family expences average in the region (in Eur..) :
|
- per food products |
: |
460 |
|
- per non food products |
: |
2.090 |
|
- per energy consume |
: |
114 |
The values are calculated on a base of 2.211 significant companies.
The companies cash their credits on an average of 26 dd.
The average duration of suppliers debts is about 153 dd.
The sector's profitability is on an average of 2,62%.
The labour cost affects the turnover in the measure of 10,29%.
Goods are held in stock in a range of 159 dd.
The difference between the sales volume and the resources used to realize it is about 1,10.
The employees costs represent the 10,25% of the production costs.
Statistcally the trade activity shows periods of crisis.
The area is statistically considered lowly risky.
In the region 50.886 protested subjects are found; in the province they count to 1.630.
The insolvency index for the region is 0,55, , while for the province it is 0,42.
Total Bankrupt companies in the province : 954.
Total Bankrupt companies in the region : 39.612.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.19 |
|
|
1 |
Rs.102.14 |
|
Euro |
1 |
Rs.84.74 |
INFORMATION DETAILS
|
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.