MIRA INFORM REPORT

 

 

Report Date :

13.02.2014

 

IDENTIFICATION DETAILS

 

Name :

PRIMATRONIC S.P.A.

 

 

Registered Office :

Via Pietro Mascagni, 14,

20122 – Milano (MI) 

 

 

Country :

Italy

 

 

Financials (as on) :

31.12.2012

 

 

Date of Incorporation :

27.07.1995

 

 

Legal Form :

Joint stock company

 

 

Line of Business :

·         Wholesale of clothing and accessories

·         Wholesale of various non-food consumer goods

·         Retail sale of clothing in specialised stores

 

 

No. of Employees :

from 26 to 35

 

 

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, 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

 

company name & address

 

PRIMATRONIC S.P.A.

 

Via Pietro Mascagni, 14

 

20122 – Milano (MI) -IT-

 

 

Summary

 

Fiscal Code

:

11584220153

Legal Form

:

Joint stock company

start of Activities

:

25/09/1995

Equity

:

Over 2.582.254

Turnover Range

:

25.000.000/35.000.000

Number of Employees

:

from 26 to 35

 

 

Activity

 

Wholesale of clothing and accessories

Wholesale of various non-food consumer goods

Retail sale of clothing in specialised stores

 

 

Legal Data

 

Legal Form : Joint stock company

Fiscal Code : 11584220153

 

Foreign Trade Reg. no. : MI242798 since 09/04/1996

 

Foreign Trade Reg. no. : 242798 of Milano since 09/04/1996

 

Chamber of Commerce no. : 1477631 of Milano since 11/09/1995

 

Firms' Register : MI146-355980 of Milano since 19/02/1996

 

V.A.T. Code : 11584220153

 

Tribunal Co. Register : 355980 of

 

Foundation date

: 27/07/1995

Establishment date

: 27/07/1995

Start of Activities

: 25/09/1995

Legal duration

: 31/12/2050

Nominal Capital

: 1.000.000

 

Subscribed Capital

: 1.000.000

 

Paid up Capital

: 1.000.000

 

 

Members

 

 

Regina

Fausta

 

 

Born in Mormanno

(CS)

on 23/10/1954

- Fiscal Code : RGNFST54R63F735Q

 

 

Residence:

 

Sporting Mirasole

, 6

- 20090

Opera

(MI)

- IT -

 

Position

Since

Shares Amount

% Ownership

Director

14/11/2012

 

 

Board Chairman

14/11/2012

 

 

Managing Director

14/11/2012

 

 

 

No Prejudicial events are reported

 

No Protests registered

 

 

Lawy

Saad

 

 

Born in Beirut

( )

on 20/06/1965

- Fiscal Code : LWYSDA65H20Z229M

 

 

Residence:

 

Pietro Mascagni

, 14

- 20122

Milano

(MI)

- IT -

 

Position

Since

Shares Amount

% Ownership

Director

14/11/2012

 

 

 

 

Chendi

Micael Joseph

 

 

Born in Milano

(MI)

on 13/04/1972

- Fiscal Code : CHNMLJ72D13F205K

 

 

Residence:

 

Pietro Mascagni

, 14

- 20122

Milano

(MI)

- IT -

 

Position

Since

Shares Amount

% Ownership

Director

14/11/2012

 

 



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.

 

 

Regina

Fausta

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

R.e.s. Srl In Liquidazione

Roma (RM) - IT -

03488350152

Sole Director

Withdrawn

Registered

Denim - Denaro Immobiliare S.r.l.

Milano (MI) - IT -

03285840967

Sole Director

Active

Registered

Peplo Srl

Biella (BI) - IT -

02420910024

Sole Director

Withdrawn

Registered

Societa' Agricola Zootecnica Forestale Castello Di Salvatore D'alessandro S.a.s.

Milano (MI) - IT -

00195010780

General Partner

Active

Registered

Societa' Agricola Zootecnica Forestale Castello Di Salvatore D'alessandro S.a.s.

Milano (MI) - IT -

00195010780

Partner (in work)

Active

Registered

Sodiet Consulting S.r.l.

Milano (MI) - IT -

07191110969

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

Saadia Jamile

 

SDAJML38E68Z229A

180.000 .Eur

18,00

Lawy Saad

Milano - IT -

LWYSDA65H20Z229M

180.000 .Eur

18,00

Lawy Saufie Natalie

 

LWYSNT66T57Z229J

180.000 .Eur

18,00

Lawy Harouun

 

LWYHRN38E26Z229Q

180.000 .Eur

18,00

Lawy Gioia

 

LWYGIO68P43F205T

180.000 .Eur

18,00

Chendi Micael Joseph

Milano - IT -

CHNMLJ72D13F205K

50.000 .Eur

5,00

Bellocchio Simona Giuseppina

 

BLLSNG68H58F205Q

50.000 .Eur

5,00

 

 

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

A.c. Distribution S.r.l.

Milano - IT -

05333860962

10.000 .Eur

100,00

 

 

Active



Firm's location and structure

 

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

 

-

Legal and operative seat

 

since 21/05/1996

 

 

 

 

 

 

Pietro Mascagni

, 14

- 20100

- Milano

(MI)

- IT -

 

 

 

 

PHONE

: 024478166

 

-

Branch

(office)

since 22/10/2003

 

 

 

 

 

 

Leonardo Da Vinci

, 281

- 20090

- Trezzano sul Naviglio

(MI)

- IT -

 

-

Branch

(Showroom)

since 01/02/2007

 

 

 

 

 

 

Boccaccio

, 71

- 20090

- Trezzano sul Naviglio

(MI)

- IT -

 

-

Branch

(Showroom)

since 01/03/2012

 

 

 

 

 

 

San Cristoforo

, 51-55/63

- 20090

- Trezzano sul Naviglio

(MI)

- IT -

 

-

Branch

(office)

since 25/09/1995

 

 

 

 

 

 

Vesuvio

, 19

- 20100

- Milano

(MI)

- IT -

 

 

 

 

Employees

: 32

 

 

 

 

Assistants

: 3

 

 

 

 

Active partners

: 1

 

Fittings and Equipment for a value of 43.000

Eur

 

Stocks for a value of 4.800.000

Eur

 

Trade organization: direct or by agents.

Sales are mainly addressed to Northern Italy

Transports are mainly done using own vehicles and third parties ones

The company 's mainly customers are companies.

 

Company generally accepts payments with terms of 60/90 days.

Subject usually collects by cash order and drafts.

Purchase terms: 60-90-120 days.

Main used payment modalities are by cash orders and bank transfers.

 

Import comes generally from the following nations:

- Belgium

 

- France

 

 

Historical Information and/or Firm's Status

 

EX-MEMBERS / EX-POSITIONS:

 

 

Parasiliti

Sebastiano

 

 

Born in Tortorici

(ME)

on 18/11/1956

- Fiscal Code : PRSSST56S18L308N

 

 

Residence:

 

Val Bavona

, 3

- 20147

Milano

(MI)

- IT -

 

Ex-Postions

Sole Director

 

 

Sazbon

Guido

 

 

Born in Milano

(MI)

on 19/07/1968

- Fiscal Code : SZBGDU68L19F205M

 

 

Residence:

 

Vincenzo Foppa

, 5

- 20144

Milano

(MI)

- IT -

 

Ex-Postions

Chairman of the Board of Aud.

 

 

Lawy

Saufie Natalie

 

 

Born in Beirut

( )

on 22/12/1966

- Fiscal Code : LWYSNT66T62Z229Y

 

 

Residence:

 

Sant'Agostino

, 1

- 20100

Milano

(MI)

- IT -

 

Ex-Postions

Sole Director

 

 

Orengo

Renzo

 

 

Born in Genova

(GE)

on 13/01/1936

- Fiscal Code : RNGRNZ36A13D969P

 

 

Residence:

 

Como

, 21

- 20021

Bollate

(MI)

- IT -

 

Ex-Postions

Chairman of the Board of Aud.

 

 

Perrone

Francesco

 

 

Born in Mormanno

(CS)

on 06/05/1950

- Fiscal Code : PRRFNC50E06F735A

 

 

Residence:

 

Sofonisba Anguissola

, 23

- 20146

Milano

(MI)

- IT -

 

Ex-Postions

Temporary Auditor

 

 

Barni Spadacini

Alessandro

 

 

Born in Milano

(MI)

on 10/04/1969

- Fiscal Code : BRNLSN69D10F205Z

 

 

Residence:

 

Mascagni Pietro

, 14

- 20122

Milano

(MI)

- IT -

 

Ex-Postions

Temporary Auditor

 

 

Regina

Fausta

 

 

Born in Mormanno

(CS)

on 23/10/1954

- Fiscal Code : RGNFST54R63F735Q

 

 

Residence:

 

Sporting Mirasole

, 6

- 20090

Opera

(MI)

- IT -

 

Ex-Postions

Sole Director

 

 

Bettoni

Stefania

 

 

Born in Brescia

(BS)

on 03/02/1969

- Fiscal Code : BTTSFN69B43B157F

 

 

Residence:

 

Pietro Mascagni

, 14

- 20122

Milano

(MI)

- IT -

 

Ex-Postions

Temporary Auditor

 

 

Porro

Ferruccio

 

 

Born in Milano

(MI)

on 06/05/1957

- Fiscal Code : PRRFRC57E06F205G

 

 

Residence:

 

Udine

, 95

- 20010

Canegrate

(MI)

- IT -

 

Ex-Postions

Permanent Auditor

 

 

Bassoli

Maria

 

 

Born in Como

(CO)

on 03/05/1959

- Fiscal Code : BSSMRA59E43C933V

 

 

Residence:

 

San Giovanni Bosco

, 17

- 24049

Verdello

(BG)

- IT -

 

Ex-Postions

Temporary Auditor

 

CEASINGS/INCORPORATIONS/MERGES:

 

 

Project of merging by taking over of

 

 

 

Sasha S.R.L.

 

 

, 20100

, Milano

(MI)

- IT -

 

 

Fiscal Code: 13167530156

 

 

Date

Merging/splitting-up project:

20/04/2010

 

 

The firm absorbed by merging of

 

 

 

Sasha S.R.L.

 

 

, 20100

, Milano

(MI)

- IT -

 

 

Fiscal Code: 13167530156

 

 

Date

:

21/07/2010



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.

 

 

Debt Collection Actions

 

Against the firm the following actions are registered:

 

 

Type

Subject

Expiry Date

Amount in EURO

Reason

Result

Closure Date

Out of Court debt collection action

 

08/10/1997

1.226

 

Successful action.

 



Financial and Economical Analysis

 

Company's starting of activities dates back to 1995.

The analysis is based on the latest 3 balance sheets.

During the last years, it achieved profits (r.o.e. 1,87% on 2012)

The return on investment in the last financial year was negative (-2,67%).

The operating result is negative (Eur. -325.238).

The GOM is negative and amounts to Eur. -52.900.

The analysis shows a fair financial position as the indebtedness volume is acceptable (3,41) but with an increase as against the previous accounting period.

Subject can manage an equity capital funds for an amount of Eur. 2.587.393 on the same levels as the year before.

Eur. 9.212.658 is the amount of total debts, both commercial and of different nature, , with no sensible variation.

Bank borrowings' volume is slightly high but the recourse to suppliers' credit is modest which is also lower than the sector average.

The liquidity level is positive (1,23).

Credits are collected in 44,1 days on the average. , longer than the average of the sector.

During financial year 2012 the cash flow amounted to Eur. 286.265

Labour cost amounts to Eur. 1.905.890, with a 6,03% incidence on production costs. , with a 6,25% incidence on turnover.

The financial management is positive as incomes are higher than the charges.



Financial Data

 

 

 

Complete balance-sheet for the year

31/12/2012

(in Eur

x 1)

 

Item Type

Value

Sales

30.485.689

Profit (Loss) for the period

48.280

 

 

 

Complete balance-sheet for the year

31/12/2011

(in Eur

x 1)

 

Item Type

Value

Sales

35.496.756

Profit (Loss) for the period

451.265

 

 

 

Complete balance-sheet for the year

31/12/2010

(in Eur

x 1)

 

Item Type

Value

Sales

34.027.642

Profit (Loss) for the period

194.291

 

 

 

Complete balance-sheet for the year

31/12/2009

(in Eur

x 1)

 

Item Type

Value

Sales

19.161.876

Profit (Loss) for the period

100.135

 

 

 

Complete balance-sheet for the year

31/12/2008

(in Eur

x 1)

 

Item Type

Value

Sales

17.534.251

Profit (Loss) for the period

93.369

 

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

5.509

18.456

16.391

. . Concessions,licenses,trademarks,etc.

 

 

 

. . Goodwill

 

 

 

. . Assets in formation and advance paymen.

80.826

 

 

. . Other intangible fixed assets

 

76.983

82.664

. Total Intangible Fixed Assets

86.335

95.439

99.055

. TANGIBLE FIXED ASSETS

 

 

 

. . Real estate

 

 

 

. . Plant and machinery

12.151

8.360

10.904

. . Industrial and commercial equipment

30.851

35.474

797

. . Other assets

240.157

306.726

215.763

. . Assets under construction and advances

 

 

 

. Total Tangible fixed assets

283.159

350.560

227.464

. FINANCIAL FIXED ASSETS

 

 

 

. . Equity investments

261.133

261.133

261.133

. . . Equity invest. in subsidiary companies

261.095

261.095

261.095

. . . Equity invest. in associated companies

 

 

 

. . . Equity invest. in holding companies

 

 

 

. . . Equity invest. in other companies

38

38

38

. . Financial receivables

137.561

150.468

201.587

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

137.561

150.468

201.587

. . . 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

137.561

150.468

201.587

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

137.561

150.468

201.587

. . Other securities

 

 

 

. . Own shares

 

 

 

. . . Total nominal value

 

 

 

. Total financial fixed assets

398.694

411.601

462.720

Total fixed assets

768.188

857.600

789.239

CURRENT ASSETS

 

 

 

. INVENTORIES

 

 

 

. . Raw materials and other consumables

 

 

2.519.579

. . Work in progress and semimanufactured

 

 

 

. . Work in progress on order

 

 

 

. . Finished goods

4.795.002

3.754.278

 

. . Advance payments

 

 

 

. Total Inventories

4.795.002

3.754.278

2.519.579

. CREDITS NOT HELD AS FIXED ASSETS

 

 

 

. . Within 12 months

5.934.435

6.658.696

8.316.737

. . Beyond 12 months

220.086

4.828

 

. . Trade receivables

3.734.866

4.024.540

7.169.679

. . . . Within 12 months

3.734.866

4.024.540

7.169.679

. . . . Beyond 12 months

 

 

 

. . Receivables due from subsid. comp.

1.359.982

1.805.239

501.500

. . . . Within 12 months

1.359.982

1.805.239

501.500

. . . . 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

389.202

336.217

296.195

. . . . Within 12 months

314.015

336.217

296.195

. . . . Beyond 12 months

75.187

 

 

. . Receivables for anticipated taxes

158.127

49.123

81.286

. . . . Within 12 months

13.228

44.295

81.286

. . . . Beyond 12 months

144.899

4.828

 

. . Receivables due from third parties

512.344

448.405

268.077

. . . . Within 12 months

512.344

448.405

268.077

. . . . Beyond 12 months

 

 

 

. Total Credits not held as fixed assets

6.154.521

6.663.524

8.316.737

. 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

382.892

1.016.604

933.433

. . Checks

 

 

 

. . Banknotes and coins

16.344

17.719

15.869

. Total Liquid funds

399.236

1.034.323

949.302

Total current assets

11.348.759

11.452.125

11.785.618

ADJUSTMENT ACCOUNTS

 

 

 

. Discount on loans

 

 

 

. Other adjustment accounts

72.162

32.583

59.537

Total adjustments accounts

72.162

32.583

59.537

TOTAL ASSETS

12.189.109

12.342.308

12.634.394

 

 

 

 

LIABILITIES

 

 

 

STOCKHOLDERS' EQUITY

 

 

 

. Capital stock

1.000.000

1.000.000

1.000.000

. Additional paid-in capital

 

 

 

. Revaluation reserves

 

 

 

. Legal reserve

82.731

60.168

50.453

. Reserve for Own shares

 

 

 

. Statute reserves

 

 

 

. Other reserves

1.456.382

1.027.682

843.106

. Accumulated Profits (Losses)

 

 

 

. Profit( loss) of the year

48.280

451.265

194.291

. Advances on dividends

 

 

 

. Partial loss of the year Coverage

 

 

 

Total Stockholders'Equity

2.587.393

2.539.115

2.087.850

RESERVES FOR RISKS AND CHARGES

 

 

 

. . Reserve for employee termination indem.

 

 

 

. . Taxation fund, also differed

3.300

3.438

 

. . Other funds

1.009

17.558

63.390

Total Reserves for Risks and Charges

4.309

20.996

63.390

Employee termination indemnities

363.614

315.946

293.178

ACCOUNTS PAYABLE

 

 

 

. . . . Within 12 months

9.212.658

9.452.196

10.183.815

. . . . 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

3.905.269

4.086.036

4.907.066

. . . . Within 12 months

3.905.269

4.086.036

4.907.066

. . . . Beyond 12 months

 

 

 

. . Due to other providers of finance

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Advances from customers

11.270

9.527

 

. . . . Within 12 months

11.270

9.527

 

. . . . Beyond 12 months

 

 

 

. . Trade payables

4.318.502

4.179.131

3.987.571

. . . . Within 12 months

4.318.502

4.179.131

3.987.571

. . . . Beyond 12 months

 

 

 

. . Securities issued

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Due to subsidiary companies

492.648

247.325

 

. . . . Within 12 months

492.648

247.325

 

. . . . Beyond 12 months

 

 

 

. . Due to associated companies

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Due to holding companies

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Due to the tax authorities

95.465

142.851

243.625

. . . . Within 12 months

95.465

142.851

243.625

. . . . Beyond 12 months

 

 

 

. . Due to social security and welfare inst.

78.772

67.216

61.055

. . . . Within 12 months

78.772

67.216

61.055

. . . . Beyond 12 months

 

 

 

. . Other payables

310.732

720.110

984.498

. . . . Within 12 months

310.732

720.110

984.498

. . . . Beyond 12 months

 

 

 

Total accounts payable

9.212.658

9.452.196

10.183.815

ADJUSTMENT ACCOUNTS

 

 

 

. Agio on loans

 

 

 

. Other adjustment accounts

21.135

14.055

6.161

Total adjustment accounts

21.135

14.055

6.161

TOTAL LIABILITIES

12.189.109

12.342.308

12.634.394

 

 

 

 

 

 

 

 

 

 

PROFIT AND LOSS ACCOUNTS

 

VALUE OF PRODUCTION

 

 

 

. Revenues from sales and services

30.485.689

35.496.756

34.027.642

. Changes in work in progress

 

 

 

. Changes in semi-manufact. products

 

 

 

. Capitalization of internal work

 

 

 

. Other income and revenues

812.978

916.442

754.570

. . Contributions for operating expenses

 

 

 

. . Different income and revenues

812.978

916.442

754.570

Total value of production

31.298.667

36.413.198

34.782.212

PRODUCTION COSTS

 

 

 

. Raw material,other materials and consum.

23.660.470

27.580.363

26.678.969

. Services received

6.182.047

6.415.709

5.687.714

. Leases and rentals

553.765

528.170

504.909

. Payroll and related costs

1.905.890

1.821.648

1.659.438

. . Wages and salaries

1.389.607

1.342.586

1.229.503

. . Social security contributions

409.341

394.811

355.202

. . Employee termination indemnities

105.441

83.554

73.835

. . Pension and similar

 

 

 

. . Other costs

1.501

697

898

. Amortization and depreciation

237.985

182.872

201.525

. . Amortization of intangible fixed assets

36.628

35.933

27.733

. . Amortization of tangible fixed assets

87.357

76.939

53.792

. . Depreciation of tangible fixed assets

 

 

 

. . Writedown of current receiv.and of liquid

114.000

70.000

120.000

. Changes in raw materials

-1.060.724

-1.234.699

-118.614

. Provisions to risk reserves

34.353

 

 

. Other provisions

 

 

 

. Other operating costs

110.119

147.925

110.108

Total production costs

31.623.905

35.441.988

34.724.049

Diff. between value and cost of product.

-325.238

971.210

58.163

FINANCIAL INCOME AND EXPENSE

 

 

 

. Income from equity investments

240.000

250.000

 

. . In subsidiary companies

 

 

 

. . In associated companies

 

 

 

. . In other companies

 

 

 

. Other financial income

9.908

2.973

2.882

. . 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

 

 

 

. . . - Subsidiary companies

 

 

 

. . . - Associated companies

 

 

 

. . . - Holding companies

 

 

 

. . . - Other companies

 

 

 

. Interest and other financial expense

28.187

-476.831

359.420

. . Towards subsidiary companies

 

 

 

. . Towards associated companies

 

 

 

. . Towards holding companies

 

 

 

. . Towards other companies

 

 

 

Total financial income and expense

278.095

-223.858

362.302

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

75.189

 

 

. . Gains on disposals

 

 

 

. . Other extraordinary income

75.189

 

 

. Extraordinary expense

 

-1

-1

. . Losses on disposals

 

 

 

. . Taxes relating to prior years

 

 

 

. . Other extraordinary expense

 

-1

-1

Total extraordinary income and expense

75.189

-1

-1

Results before income taxes

28.046

747.351

420.464

. Taxes on current income

-20.234

296.086

226.173

. . current taxes

88.907

260.486

281.253

. . differed taxes(anticip.)

-109.141

35.600

-55.080

. Net income for the period

48.280

451.265

194.291

. Adjustments in tax regulations pursuance

 

 

 

. Provisions in tax regulations pursuance

 

 

 

. Profit (loss) of the year

48.280

451.265

194.291

 

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

0,06

0,07

0,06

0,13

Elasticity Ratio

Units

0,93

0,93

0,93

0,85

Availability of stock

Units

0,39

0,30

0,20

0,54

Total Liquidity Ratio

Units

0,54

0,62

0,73

0,22

Quick Ratio

Units

0,03

0,08

0,08

0,04

COMPOSITION ON SOURCE

 

 

 

 

 

Net Short-term indebtedness

Units

3,41

3,32

4,42

4,36

Self Financing Ratio

Units

0,21

0,21

0,17

0,14

Capital protection Ratio

Units

0,59

0,43

0,43

0,56

Liabilities consolidation quotient

Units

0,04

0,03

0,03

0,15

Financing

Units

3,56

3,72

4,88

5,86

Permanent Indebtedness Ratio

Units

0,24

0,23

0,19

0,31

M/L term Debts Ratio

Units

0,03

0,03

0,02

0,10

Net Financial Indebtedness Ratio

Units

1,36

1,20

1,90

0,98

CORRELATION

 

 

 

 

 

Fixed assets ratio

Units

3,84

3,33

3,02

2,02

Current ratio

Units

1,23

1,21

1,16

1,15

Acid Test Ratio-Liquidity Ratio

Units

0,71

0,81

0,91

0,36

Structure's primary quotient

Units

3,37

2,96

2,65

1,06

Treasury's primary quotient

Units

0,04

0,11

0,09

0,07

Rate of indebtedness ( Leverage )

%

471,10

486,09

605,14

707,22

Current Capital ( net )

Value

2.136.101

1.999.929

1.601.803

61.776

RETURN

 

 

 

 

 

Return on Sales

%

0,94

1,79

1,16

2,62

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

%

1,87

17,77

9,31

6,19

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

%

1,08

29,43

20,14

15,72

Return on Investment ( R.O.I. )

%

-2,67

7,87

0,46

3,25

Return/ Sales

%

-1,07

2,74

0,17

2,94

Extra Management revenues/charges incid.

%

n.c.

46,46

334,05

31,16

Cash Flow

Value

286.265

634.137

395.816

20.178

Operating Profit

Value

-325.238

971.210

58.163

23.558

Gross Operating Margin

Value

-52.900

1.154.082

259.688

40.605

MANAGEMENT

 

 

 

 

 

Credits to clients average term

Days

44,10

40,82

75,85

26,46

Debts to suppliers average term

Days

56,98

46,16

43,67

152,76

Average stock waiting period

Days

56,62

38,08

26,66

158,60

Rate of capital employed return ( Turnover )

Units

2,50

2,88

2,69

1,10

Rate of stock return

Units

6,36

9,46

13,51

2,21

Labour cost incidence

%

6,25

5,13

4,88

10,29

Net financial revenues/ charges incidence

%

0,91

-0,63

1,06

-1,31

Labour cost on purchasing expenses

%

6,03

5,14

4,78

10,25

Short-term financing charges

%

n.c.

5,04

n.c.

2,10

Capital on hand

%

39,98

34,77

37,13

90,76

Sales pro employee

Value

983.409

1.014.193

1.031.140

267.102

Labour cost pro employee

Value

61.480

52.047

50.286

30.754

 

 

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

:

3.839.216

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

 

 

Sector Data

 

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.

 

 

Statistical Detrimental Data

 

Statistically the trade activity passes through serious crises.

The area is statistically considered lowly risky.

In the region 50.886 protested subjects are found; in the province they count to 24.765.

The insolvency index for the region is 0,55, , while for the province it is 0,66.

Total Bankrupt companies in the province : 22.523.

Total Bankrupt companies in the region : 39.612.

           

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.13

UK Pound

1

Rs.102.25

Euro

1

Rs.84.72

 

 

INFORMATION DETAILS

 

Report Prepared by :

NNA

 

 

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.