|
Report Date : |
11.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
ALTAIR S.R.L. |
|
|
|
|
Registered Office : |
Via 59013-
Montemurlo ( |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
08.02.2011 |
|
|
|
|
Legal Form : |
Limited liability company |
|
|
|
|
Line of Business : |
Manufacturer of other knitted and crocheted apparel |
|
|
|
|
No of Employees : |
From 6 to 10 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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 |
Altair S.r.l.
Via Alessandria, 11
59013 - Montemurlo (PO) -IT-
Via Chemitz 2, 59100 Prato P IVA 02194890972, Italy
|
Fiscal Code |
: |
02194890972 |
|
Legal Form |
: |
Limited liability company |
|
start of Activities |
: |
06/07/2011 |
|
Equity |
: |
200.000 |
|
Turnover Range |
: |
5.000.000/6.500.000 |
|
Number of Employees |
: |
fom 6 to 10 |
Manufacture of other knitted and crocheted apparel
Legal Form : Limited liability company
|
Fiscal Code : 02194890972 |
|
Chamber of Commerce no. : 510567 of Prato
since 17/02/2011 |
|
V.A.T. Code : 02194890972 |
|
Establishment date |
: 08/02/2011 |
|
|
Start of Activities |
: 06/07/2011 |
|
|
Legal duration |
: 31/12/2050 |
|
|
Nominal Capital |
: 100.000 |
|
|
Subscribed Capital |
: 100.000 |
|
|
Paid up Capital |
: 100.000 |
|
|
Jin |
Shu Bin |
|
|
|
|
|
|
Born in Chekiang |
( ) |
on 19/08/1967 |
- Fiscal Code : JNISBN67M19Z210W |
|
|
|
Residence: |
|
San Marco |
, 49/C |
- 56121 |
Pisa |
(PI) |
- IT - |
|
Position |
Since |
Shares
Amount |
%
Ownership |
|
Sole Director |
08/02/2011 |
|
|
|
|
Prejudicial Events found with cancellations* |
Legal Mortgage - 28/07/2010. - 340.405 Euro. Event writing-off
|
|
·
EQUITALIA CERIT SPA |
|
|
No Protests registered |
*Concerns also partially erased events.
*checkings have been performed on a national scale.
In this module are listed the companies in which members hold or have
holded positions.
|
|
Jin |
Shu Bin |
|
|
|
|
|
Firm's
Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Altair - S.a.s. Di Jin Enyu E C. |
Pisa (PI) - IT - |
01342200506 |
Limited Partner |
Active |
Registered |
|
Altair Group S.r.l. In Liquidazione |
Montemurlo (PO) - IT - |
05547580489 |
Liquidator |
Active |
Registered |
|
Jinvest Group S.r.l. |
Pisa (PI) - IT - |
02054800970 |
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.
Shareholders' list as at date of data collection:
|
Firm's
Style / Name |
Seat
/ Residence |
Fiscal Code |
Owned Shares |
% Ownership |
|
Jin Shu Bin |
Pisa - IT - |
JNISBN67M19Z210W |
3.000 .Eur |
3,00 |
|
Innocenti Paola |
|
NNCPLA80A61G713K |
49.000 .Eur |
49,00 |
|
Jinvest Group S.r.l. |
|
02054800970 |
48.000 .Eur |
48,00 |
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 |
|
|
|
|
|
|
|
Alessandria |
, 11 |
- 50045 |
- Montemurlo |
(PO) |
- IT - |
|
- |
Branch |
|
since 06/07/2011 |
|
|
|
|
|
|
Chemnitz |
, SNC |
- 50047 |
- Prato |
(PO) |
- IT - |
|
|
|
|
Employees |
: 8 |
|
Stocks for a value of 500.000 |
Eur |
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.
Company's starting of activities dates back to some years ago (2011).
On the base of the analysis made on the b/s of the years 2012 and 2011,
it can be gathered that:
During the last years, it recorded positive net results (r.o.e. 29,99%
in 2012) with an increase in 2012 (more then 100%).
The operating result was positive in the last financial year (2,1%) and in
line with the sector's average.
The amount of the operating result for the year 2012 is of Eur. 96.032
increasing if compared to the yeart 2011.
The G.O.M. amounted to Eur. 99.574 showing a more then 100% growth.
Financial condition is not balanced as own capitals do not cover debts,
indebtedness level is in fact high (23,74) falling as opposed to the year
before.
With regard to equity capital, an amount of Eur. 181.156 is registered.
, increasing by 392,01% if compared to the year before.
The financial management has recorded total debts amounting to Eur.
4.381.850, , rising as opposed to the previous year (+more then 100%).
Current liquid assets is positive.
Eur. 57.877 is the value of cash flow during the year 2012
In the last financial year labour cost was of Eur. 59.849, with a 1,17%
incidence on total costs of production. , whereas 1,15% is the incidence on
sales revenues.
The incidence of the financial charges is of -0,21% on the sales amount.
|
Complete balance-sheet for the year |
31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
5.205.495 |
|
Profit (Loss) for the period |
54.335 |
|
|
|
Complete balance-sheet for the year |
31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
1.369.717 |
|
Profit (Loss) for the period |
26.820 |
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 |
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
Third party goods |
|
|
|
Investment accounts |
|
|
|
Risk accounts |
|
|
|
Civil and fiscal norms relation |
|
|
|
VALUE OF
PRODUCTION |
|
|
|
. Revenues from sales and services |
5.205.494 |
1.369.719 |
|
. Changes in work in progress |
|
|
|
. Changes in semi-manufact. products |
|
|
|
. Capitalization of internal work |
|
|
|
. Other income
and revenues |
|
|
|
. . Contributions for operating expenses |
|
|
|
. . Different income and revenues |
|
|
|
Total value of
production |
5.205.494 |
1.369.719 |
|
PRODUCTION COSTS
|
|
|
|
. Raw material,other materials and consum.
|
4.056.910 |
1.266.214 |
|
. Services received |
1.452.424 |
63.049 |
|
. Leases and rentals |
33.160 |
|
|
. Payroll and
related costs |
59.849 |
910 |
|
. . Wages and salaries |
41.203 |
|
|
. . Social security contributions |
16.355 |
910 |
|
. . Employee termination indemnities |
2.291 |
|
|
. . Pension and similar |
|
|
|
. . Other costs |
|
|
|
. Amortization
and depreciation |
3.542 |
521 |
|
. . Amortization of intangible fixed
assets |
1.187 |
521 |
|
. . Amortization of tangible fixed assets |
2.355 |
|
|
. . Depreciation of tangible fixed assets |
|
|
|
. . Writedown of current receiv.and of
liquid |
|
|
|
. Changes in raw
materials |
-501.539 |
|
|
. Provisions to
risk reserves |
|
|
|
. Other
provisions |
|
|
|
. Other
operating costs |
5.116 |
41 |
|
Total production
costs |
5.109.462 |
1.330.735 |
|
Diff. between
value and cost of product. |
96.032 |
38.984 |
|
FINANCIAL INCOME
AND EXPENSE |
|
|
|
. Income from
equity investments |
|
|
|
. . In subsidiary companies |
|
|
|
. . In associated companies |
|
|
|
. . In other companies |
|
|
|
. Other
financial income |
949 |
1 |
|
. .
Financ.income from receivables |
|
|
|
. . . Towards subsidiary companies |
|
|
|
. . . Towards associated companies |
|
|
|
. . . Towards holding companies |
|
|
|
. . . Towards other companies |
|
|
|
. .
Financ.income from secur. t.f.assets |
872 |
|
|
. .
Financ.income from secur. cur.assets |
|
|
|
. .
Financ.income other than the above |
77 |
1 |
|
. . . - Subsidiary companies |
|
|
|
. . . - Associated companies |
|
|
|
. . . - Holding companies |
|
|
|
. . . - Other companies |
77 |
1 |
|
. Interest and
other financial expense |
-11.776 |
-1 |
|
. . Towards subsidiary companies |
|
|
|
. . Towards associated companies |
|
|
|
. . Towards holding companies |
|
|
|
. . Towards other companies |
11.776 |
1 |
|
Total financial
income and expense |
-10.827 |
|
|
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 |
|
|
|
. . Gains on disposals |
|
|
|
. . Other extraordinary income |
|
|
|
. Extraordinary
expense |
|
|
|
. . Losses on disposals |
|
|
|
. . Taxes relating to prior years |
|
|
|
. . Other extraordinary expense |
|
|
|
Total
extraordinary income and expense |
|
|
|
Results before
income taxes |
85.205 |
38.984 |
|
. Taxes on
current income |
30.870 |
12.164 |
|
. . current taxes |
30.870 |
12.164 |
|
. . differed taxes(anticip.) |
|
|
|
. Net income for the period |
54.335 |
26.820 |
|
. Adjustments in tax regulations pursuance
|
|
|
|
. Provisions in tax regulations pursuance |
|
|
|
. Profit (loss)
of the year |
54.335 |
26.820 |
|
RATIOS |
Value
Type |
as at 31/12/2012 |
as at 31/12/2011 |
Sector Average |
|
COMPOSITION ON
INVESTMENT |
|
|
|
|
|
Rigidity Ratio |
Units |
0,03 |
0,00 |
0,21 |
|
Elasticity Ratio |
Units |
0,96 |
0,99 |
0,74 |
|
Availability of stock |
Units |
0,11 |
n.c. |
0,22 |
|
Total Liquidity Ratio |
Units |
0,85 |
0,99 |
0,47 |
|
Quick Ratio |
Units |
0,02 |
0,01 |
0,02 |
|
COMPOSITION ON
SOURCE |
|
|
|
|
|
Net Short-term indebtedness |
Units |
23,74 |
37,31 |
1,63 |
|
Self Financing Ratio |
Units |
0,04 |
0,03 |
0,27 |
|
Capital protection Ratio |
Units |
0,15 |
0,00 |
0,76 |
|
Liabilities consolidation quotient |
Units |
0,00 |
n.c. |
0,17 |
|
Financing |
Units |
24,19 |
37,51 |
2,41 |
|
Permanent Indebtedness Ratio |
Units |
0,04 |
0,03 |
0,42 |
|
M/L term Debts Ratio |
Units |
0,00 |
n.c. |
0,12 |
|
Net Financial Indebtedness Ratio |
Units |
n.c. |
n.c. |
1,01 |
|
CORRELATION |
|
|
|
|
|
Fixed assets ratio |
Units |
1,60 |
8,84 |
1,89 |
|
Current ratio |
Units |
1,00 |
1,02 |
1,23 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
0,89 |
1,02 |
0,87 |
|
Structure's primary quotient |
Units |
1,58 |
8,84 |
1,14 |
|
Treasury's primary quotient |
Units |
0,02 |
0,01 |
0,03 |
|
Rate of indebtedness ( Leverage ) |
% |
2520,09 |
3851,26 |
363,43 |
|
Current Capital ( net ) |
Value |
1.606 |
25.153 |
516.008 |
|
RETURN |
|
|
|
|
|
Return on Sales |
% |
1,11 |
2,00 |
2,65 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
29,99 |
72,84 |
3,99 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
47,03 |
105,88 |
8,24 |
|
Return on Investment ( R.O.I. ) |
% |
2,10 |
2,75 |
3,98 |
|
Return/ Sales |
% |
1,84 |
2,85 |
4,06 |
|
Extra Management revenues/charges incid. |
% |
56,58 |
68,80 |
22,26 |
|
Cash Flow |
Value |
57.877 |
27.341 |
131.616 |
|
Operating Profit |
Value |
96.032 |
38.984 |
171.264 |
|
Gross Operating Margin |
Value |
99.574 |
39.505 |
292.452 |
|
MANAGEMENT |
|
|
|
|
|
Credits to clients average term |
Days |
n.c. |
n.c. |
125,56 |
|
Debts to suppliers average term |
Days |
n.c. |
n.c. |
100,12 |
|
Average stock waiting period |
Days |
34,69 |
n.c. |
71,59 |
|
Rate of capital employed return ( Turnover
) |
Units |
1,14 |
0,97 |
1,04 |
|
Rate of stock return |
Units |
10,38 |
n.c. |
5,02 |
|
Labour cost incidence |
% |
1,15 |
0,07 |
13,02 |
|
Net financial revenues/ charges incidence |
% |
-0,21 |
n.c. |
-2,14 |
|
Labour cost on purchasing expenses |
% |
1,17 |
0,07 |
13,65 |
|
Short-term financing charges |
% |
0,27 |
0,00 |
3,52 |
|
Capital on hand |
% |
87,70 |
103,52 |
95,65 |
|
Sales pro employee |
Value |
5.205.495 |
|
210.489 |
|
Labour cost pro employee |
Value |
59.849 |
|
29.351 |
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 |
: |
238.826 |
|
Population living in the region |
: |
3.598.269 |
|
Number of families in the region |
: |
1.474.681 |
Monthly family expences average in the region (in Eur..) :
|
- per food products |
: |
444 |
|
- per non food products |
: |
2.009 |
|
- per energy consume |
: |
122 |
The values are calculated on a base of 249 significant companies.
The companies cash their credits on an average of 126 dd.
The average duration of suppliers debts is about 100 dd.
The sector's profitability is on an average of 2,65%.
The labour cost affects the turnover in the measure of 13,02%.
Goods are held in stock in a range of 72 dd.
The difference between the sales volume and the resources used to
realize it is about 1,04.
The employees costs represent the 13,65% of the production costs.
Statistically the trade activity passes through serious crises.
The area is statistically considered moderately risky.
In the region 24.960 protested subjects are found; in the province they
count to 2.055.
The insolvency index for the region is 0,70, , while for the province it
is 0,88.
Total Bankrupt companies in the province : 3.109.
Total Bankrupt companies in the region : 20.423.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 62.43 |
|
|
1 |
Rs. 102.48 |
|
Euro |
1 |
Rs. 85.28 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
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.