MIRA INFORM REPORT

 

 

Report Date :

26.02.2014

 

IDENTIFICATION DETAILS

 

Name :

CA' DA MOSTO S.P.A.

 

 

Registered Office :

Via Venezia, 146,

30037 - Scorze' (VE)     

 

 

Country :

Italy

 

 

Financials (as on) :

31.12.2012

 

 

Date of Incorporation :

09.09.1985

 

 

Com. Reg. No.:

VE042-26598 of Venezia since 19/02/1996

 

 

Legal Form :

Joint Stock Company

 

 

Line of Business :

·         Manufacturer of wearing apparel

·         Manufacturer of leather and fur articles

 

 

No. of Employees

from 131 to 150 employees

 

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 – 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

 

 

Company name & address

 

Ca' Da Mosto S.p.a.

 

Via Venezia, 146

 

30037 - Scorze' (VE) -IT-

 

 

Summary

 

Fiscal Code

:

02037210271

Legal Form

:

Joint stock company

start of Activities

:

01/09/1998

Equity

:

Over 2.582.254

Turnover Range

:

35.000.000/50.000.000

Number of Employees

:

from 131 to 150

 

 

Activity

 

·         Manufacturer of wearing apparel;

·         Manufacturer of leather and fur articles

 

Legal Data

 

Legal Form : Joint stock company

Fiscal Code : 02037210271

 

Foreign Trade Reg. no. : VE029966 since 28/01/1999

 

Chamber of Commerce no. : 484126 of Bologna

 

Chamber of Commerce no. : 1717722 of Milano since 22/05/2003

 

Chamber of Commerce no. : 266451 of Padova since 16/12/1996

 

Chamber of Commerce no. : 194234 of Venezia since 22/01/1986

 

Firms' Register : VE042-26598 of Venezia since 19/02/1996

 

V.A.T. Code : 02037210271

 

Establishment date

: 09/09/1985

Start of Activities

: 01/09/1998

Legal duration

: 31/12/2020

Nominal Capital

: 4.940.000

Subscribed Capital

: 4.940.000

Paid up Capital

: 4.940.000

Members

 

Tegon

Francesca

 

Born in Oderzo

(TV)

on 12/02/1972

- Fiscal Code : TGNFNC72B52F999W

 

 

Residence:

Bertati

, 14-2

- 30030

Martellago

(VE)

- IT -

 

Position

Since

Shares Amount

% Ownership

Director

23/05/2013



Tegon

Giovanna

 

Born in Oderzo

(TV)

on 14/11/1973

- Fiscal Code : TGNGNN73S54F999Z

 

Residence:

Del Giardinier

, 1

- 30030

Martellago

(VE)

- IT -

 

Position

Since

Shares Amount

% Ownership

Director

23/05/2013



Tegon

Pierpaolo

 

 

Born in Venezia

(VE)

on 16/01/1976

- Fiscal Code : TGNPPL76A16F159K

 

Residence:

Del Giardinier

, 1

- 30030

Martellago

(VE)

- IT -

 

Position

Since

Shares Amount

% Ownership

Director

23/05/2013

Managing Director

25/05/2013

 

No Prejudicial events are reported

 

 

No Protests registered

 

Bonaldo

Rudi

 

Born in Mirano

(VE)

on 28/03/1959

- Fiscal Code : BNLRDU59C28F241T

 

Residence:

Ballo'

, 162

- 30035

Mirano

(VE)

- IT -

 

Position

Since

Shares Amount

% Ownership

Responsible technician

22/12/2008



 

Fabris

Roberto

 

Born in Mirano

(VE)

on 13/01/1967

- Fiscal Code : FBRRRT67A13F241H

 

Residence:

Porara

, 154

- 30035

Mirano

(VE)

- IT -

 

Position

Since

Shares Amount

% Ownership

Responsible technician

22/12/2008

 

Tegon

Sergio

 

Born in Mirano

(VE)

on 01/03/1940

- Fiscal Code : TGNSRG40C01F241W

 

Residence:

Del Giardinier

, 1

- 30030

Martellago

(VE)

- IT -

 

Position

Since

Shares Amount

% Ownership

Board Chairman

25/05/2013

Director

23/05/2013

 

No Prejudicial events are reported

 

No Protests registered

 

Zanata

Onorato

 

Born in Mirano

(VE)

on 25/01/1939

- Fiscal Code : ZNTNRT39A25F241G

 

Residence:

Antonio Lazzari

, 12

- 30174

Venezia

(VE)

- IT -

 

Position

Since

Shares Amount

% Ownership

Managing Director

25/05/2013

Director

23/05/2013

 

No Prejudicial events are reported

 

No Protests registered

 

La Castellana S.r.l.

 

 

Residence:

Venezia

, 146

- 30037

Scorze'

(VE)

- IT -

 

Position

Since

Shares Amount

% Ownership

Sole partner

19/06/2006

 

No Prejudicial events are reported

 

No Protests registered



Companies connected to members *

 

*checkings have been performed on a national scale.

 

In this module are listed the companies in which members hold or have holded positions.

 

Zanata

Onorato

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

Banca Santo Stefano - Credito Cooperativo - Martellago-venezia - Societa' Cooper

Martellago (VE) - IT -

00226370278

Director

Active

Registered

Banca Santo Stefano - Credito Cooperativo - Martellago-venezia - Societa' Cooper

Martellago (VE) - IT -

00226370278

Board Chairman

Active

Registered

Progetto 2000 S.r.l.

Martellago (VE) - IT -

01510890278

Director

Active

Registered

Progetto 2000 S.r.l.

Martellago (VE) - IT -

01510890278

Managing Director

Active

Registered

Giardino Santo Stefano - Societa' Cooperativa Sociale

Martellago (VE) - IT -

02600520270

Chairman of the Board of Aud.

Withdrawn

Ceased

L'abitazione S.r.l.

Martellago (VE) - IT -

02864440272

Sole Director

Withdrawn

Ceased

L'abitazione S.r.l.

Martellago (VE) - IT -

02864440272

Liquidator

Withdrawn

Ceased

Federazione Veneta Delle Banche Di Credito Cooperativo

Padova (PD) - IT -

80016190284

Director

Withdrawn

Registered

Federazione Veneta Delle Banche Di Credito Cooperativo

Padova (PD) - IT -

80016190284

Chairman of the Board of Aud.

Active

Registered

Finservice Group S.r.l.

Padova (PD) - IT -

02255000289

Liquidator

Withdrawn

Ceased

Ikominto S.a.s. Di Sergio Tegon E C.

Venezia (VE) - IT -

01898450273

Limited Partner

Withdrawn

Ceased

New Generation S.r.l.

Venezia (VE) - IT -

04159690272

Director

Active

Registered

New Generation S.r.l.

Venezia (VE) - IT -

04159690272

Managing Director

Active

Registered

 

Tegon

Sergio

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

Gruppo Tegon S.r.l. - In Liquidazione

Martellago (VE) - IT -

01957210279

Liquidator

Withdrawn

Ceased

La Castellana S.r.l.

Scorze' (VE) - IT -

02037200272

Sole Director

Active

Registered

Progetto 2000 S.r.l.

Martellago (VE) - IT -

01510890278

Director

Active

Registered

Progetto 2000 S.r.l.

Martellago (VE) - IT -

01510890278

Board Chairman

Active

Registered

Retail Project Srl

Bassano del Grappa (VI) - IT -

02565140247

Sole Director

Withdrawn

Ceased

Trogresval S.r.l.

Martellago (VE) - IT -

06254420158

Sole Director

Active

Registered

Mode-styling S.r.l.

Trebaseleghe (PD) - IT -

01143890281

Liquidator

Withdrawn

Ceased

Clothing And Flowers Srl In Liquidazione

Rubano (PD) - IT -

04231940281

Director

Withdrawn

Registered

Clothing And Flowers Srl In Liquidazione

Rubano (PD) - IT -

04231940281

Board Chairman

Withdrawn

Registered

Vetreria S. Marco Di Tegon Sergio E C. -S.a.s.

Monastier di Treviso (TV) - IT -

00293500260

General Partner

Withdrawn

Ceased

Trinidad S.a.s. Di Sergio Tegon E C.

Treviso (TV) - IT -

01650400268

General Partner

Withdrawn

Ceased

Societa' Immobiliare Veneta S.i.v.e. DiBenvegnu' Luciano E C. - S.a.s.

Martellago (VE) - IT -

00335610275

Limited Partner

Withdrawn

Ceased

Tentation Di Tegon Sergio

Martellago (VE) - IT -

TGNSRG40C01F241W

Proprietor

Withdrawn

Ceased

New Generation S.r.l.

Venezia (VE) - IT -

04159690272

Director

Active

Registered

New Generation S.r.l.

Venezia (VE) - IT -

04159690272

Board Chairman

Active

Registered

 

Tegon

Pierpaolo

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

Progetto 2000 S.r.l.

Martellago (VE) - IT -

01510890278

Director

Active

Registered

Progetto 2000 S.r.l.

Martellago (VE) - IT -

01510890278

Managing 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

La Castellana S.r.l.

02037200272

4.940.000 .Eur

100,00



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

New Generation S.r.l.

Venezia - IT -

04159690272

7.500 .Eur

75,00

Active



Firm's location and structure

 

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

 

-

Legal and operative seat

 

Venezia

, 146

- 30037

- Scorze'

(VE)

- IT -

 

Total Surface: 400 Sq.mt.

 

PHONE

: 0415899555

 

FAX

: 041445219

 

-

Branch

(Store)

since 30/03/1999

 

Venezia

, 157

- 30037

- Scorze'

(VE)

- IT -

 

PHONE

: 0415899555

 

FAX

: 041445219

 

-

Branch

(Store)

since 01/07/2004

 

Venezia

, 148

- 30037

- Scorze'

(VE)

- IT -

 

-

Branch

(Store)

since 01/04/2009

 

Guido Rossa

, 27

- 30037

- Scorze'

(VE)

- IT -

 

-

Branch

(Factory)

since 01/09/1998

 

Venezia

, 146

- 30037

- Scorze'

(VE)

- IT -

 

Total Surface: 400 Sq.mt.

 

-

Branch

(Store)

since 01/06/2003

 

E. Mattei

, S.N.

- 30037

- Scorze'

(VE)

- IT -

 

-

Branch

(Shop)

since 21/01/2010

 

San Felice

, 51/A

- 40100

- Bologna

(BO)

- IT -

 

Total Surface: 75 Sq.mt.

 

-

Branch

since 15/02/2003

 

Pontaccio

, 10

- 20100

- Milano

(MI)

- IT -

 

-

Branch

(Shop)

since 02/12/2008

 

Manzoni Alessandro

, 46

- 20100

- Milano

(MI)

- IT -

 

-

Branch

since 01/07/1996

 

Venezia

, 1

- 35010

- Trebaseleghe

(PD)

- IT -

 

Employees

: 137

 

Fittings and Equipment for a value of 1.050.000

Eur

 

Stocks for a value of 7.200.000

Eur

 

 

Historical Information and/or Firm's Status

 

EX-MEMBERS / EX-POSITIONS:

 

Zanata

Onorato

 

 

Born in Mirano

(VE)

on 25/01/1939

- Fiscal Code : ZNTNRT39A25F241G

 

Residence:

Antonio Lazzari

, 12

- 30174

Venezia

(VE)

- IT -

 

Ex-Postions

Director

 

Tegon

Sergio

 

 

Born in Mirano

(VE)

on 01/03/1940

- Fiscal Code : TGNSRG40C01F241W

 

Residence:

Del Giardinier

, 1

- 30030

Martellago

(VE)

- IT -

 

Ex-Postions

Board Chairman

 

Candiotto

Federica

 

Born in Venezia

(VE)

on 11/06/1969

- Fiscal Code : CNDFRC69H51L736C

 

Residence:

Daniele Manin

, 7

- 30174

Venezia

(VE)

- IT -

 

Ex-Postions

Permanent Auditor

 

Brisotto

Francesco

 

 

Born in Fossalta di Piave

(VE)

on 03/10/1964

- Fiscal Code : BRSFNC64R03D740L

 

Residence:

Powell Baden

, 19

- 30027

San Dona' di Piave

(VE)

- IT -

 

Ex-Postions

Auditor

Director

 

Collina

Giusepppe

 

Born in Milano

(MI)

on 20/04/1940

- Fiscal Code : CLLGPP40D20F205I

 

Residence:

Panfilo Castaldi

, 8/1

- 31100

Treviso

(TV)

- IT -

 

Ex-Postions

Director

 

Lenarda

Sebastiano

 

Born in Venezia

(VE)

on 17/02/1963

- Fiscal Code : LNRSST63B17L736A

 

Residence:

San Polo

, 3086

- 30100

Venezia

(VE)

- IT -

 

Ex-Postions

Temporary Auditor

Temporary Auditor

 

Pettenello

Giovanni Battista

 

 

Born in Venezia

(VE)

on 02/10/1936

- Fiscal Code : PTTGNN36R02L736R

 

 

Residence:

Dorsoduro

, 2914

- 30100

Venezia

(VE)

- IT -

 

Ex-Postions

Temporary Auditor

Temporary Auditor

 

Boldrin

Arcangelo

 

Born in Mogliano Veneto

(TV)

on 02/09/1949

- Fiscal Code : BLDRNG49P02F269U

 

Residence:

Pedemuro San Biagio

, 72

- 36100

Vicenza

(VI)

- IT -

 

Ex-Postions

Permanent Auditor

Permanent Auditor

 

Lanfranchi

Massimo

 

Born in Venezia

(VE)

on 10/04/1951

- Fiscal Code : LNFMSM51D10L736F

 

Residence:

Paolo Paruta

, 32

- 30172

Venezia

(VE)

- IT -

 

Ex-Postions

Chairman of the Board of Aud.



CEASINGS/INCORPORATIONS/MERGES:

 

Project of splitting-up and tranfer into

 

La Castellana S.r.l.

 

Venezia

, 146

, 30037

, Scorze'

(VE)

- IT -

 

Fiscal Code: 02037200272

 

Date

Merging/splitting-up project:

06/11/2006

 

Splitting-up and transfer of assets to

 

La Castellana S.r.l.

 

Venezia

, 146

, 30037

, Scorze'

(VE)

- IT -

 

Fiscal Code: 02037200272

 

Date

Splitting-up:

28/05/2007



Protests

 

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


Data Base Prejudicial Events Search

 

Search performed on a National Scale

 

 

Prejudicial Events Search Result: NEGATIVE

 

Search performed on a specialized data base.



Legal Procedures

 

None reported, standing to the latest received edition of the Official Publications.


Financial and Economical Analysis

 

The company is active since 1998

The economic-financial analysis has been made on the base of the b/s of the latests three years.

During the last years, it achieved profits (r.o.e. 2,43% on 2012) with a stable trend in the turnover.

The return on Investment in the last financial year was positive (2,66%) and in line with the sector's average.

The amount of the operating result for the year 2012 is of Eur. 1.078.775 showing a downwards trend equal to -46,82% if compared to the value of the financial year 2011.

A gross operating margine for a value of Eur. 4.018.210 was reached. , stable if compared to the year before.

The company has an excellent net worth if compared to its debts, with a low indebtedness (0,54) and with an upward trend compared to the previous year.

It's shareholders funds amount to Eur. 19.937.342 on the same levels as the year before.

Total indebtedness was equal to Eur. 16.870.461 (Eur. 5.000.000 was the value of m/l term debts) , with no sensible variation.

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 154,59 days. even higher than the average of the specific sector.

Eur. 2.709.699 is the value of cash flow during the year 2012

During 2012 financial year labour costs amounted to Eur. 6.284.237, with a 12,89% incidence on production costs. and a 12,57% incidence on sales volumes.

Financial charges have a limited incidence (-0,46%) on sales volume.




Financial Data

 

Complete balance-sheet for the year

31/12/2012

(in Eur

x 1)

 

Item Type

Value

Sales

49.977.858

Profit (Loss) for the period

484.048

 

 

Complete balance-sheet for the year

31/12/2011

(in Eur

x 1)

 

Item Type

Value

Sales

53.273.560

Profit (Loss) for the period

1.019.668

 

Complete balance-sheet for the year

31/12/2010

(in Eur

x 1)

 

Item Type

Value

Sales

49.033.257

Profit (Loss) for the period

1.447.995

 

Complete balance-sheet for the year

31/12/2009

(in Eur

x 1)

 

Item Type

Value

Sales

48.379.770

Profit (Loss) for the period

2.354.308

 

Complete balance-sheet for the year

31/12/2008

(in Eur

x 1)

 

Item Type

Value

Sales

55.709.080

Profit (Loss) for the period

3.787.461


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

. . Concessions,licenses,trademarks,etc.

1.735.461

2.215.913

2.853.670

. . Goodwill

336.700

673.400

1.010.100

. . Assets in formation and advance paymen.

. . Other intangible fixed assets

378.090

281.079

135.684

. Total Intangible Fixed Assets

2.450.251

3.170.392

3.999.454

. TANGIBLE FIXED ASSETS

. . Real estate

. . Plant and machinery

852.131

1.018.792

857.410

. . Industrial and commercial equipment

198.126

168.147

77.104

. . Other assets

1.110.137

1.323.892

1.371.961

. . Assets under construction and advances

. Total Tangible fixed assets

2.160.394

2.510.831

2.306.475

. FINANCIAL FIXED ASSETS

. . Equity investments

155

155

155

. . . Equity invest. in subsidiary companies

. . . Equity invest. in associated companies

. . . Equity invest. in holding companies

. . . Equity invest. in other companies

155

155

155

. . Financial receivables

. . . . Within 12 months

. . . . Beyond 12 months

. . . Receivab due from subsidiaries

. . . . Within 12 months

. . . . Beyond 12 months

. . . Receivables due from assoc.comp.

. . . . Within 12 months

. . . . Beyond 12 months

. . . Receivables due from holding comp.

. . . . Within 12 months

. . . . Beyond 12 months

. . . Receivables due from third parties

. . . . Within 12 months

. . . . Beyond 12 months

. . Other securities

. . Own shares

. . . Total nominal value

. Total financial fixed assets

155

155

155

Total fixed assets

4.610.800

5.681.378

6.306.084

CURRENT ASSETS

. INVENTORIES

. . Raw materials and other consumables

1.466.256

1.691.933

1.334.472

. . Work in progress and semimanufactured

2.160.158

1.986.805

2.354.312

. . Work in progress on order

. . Finished goods

3.571.250

4.075.991

2.734.668

. . Advance payments

. Total Inventories

7.197.664

7.754.729

6.423.452

. CREDITS NOT HELD AS FIXED ASSETS

. . Within 12 months

22.761.523

24.655.066

21.856.065

. . Beyond 12 months

2.801.968

33.213

. . Trade receivables

21.461.448

21.034.896

18.650.724

. . . . Within 12 months

21.461.448

21.034.896

18.650.724

. . . . Beyond 12 months

. . Receivables due from subsid. comp.

644

644

. . . . Within 12 months

644

644

. . . . Beyond 12 months

. . Receivables due from assoc. comp.

7.200

. . . . Within 12 months

7.200

. . . . Beyond 12 months

. . Receivables due from holding comp.

1.291.574

933.558

998.666

. . . . Within 12 months

1.065.776

933.558

998.666

. . . . Beyond 12 months

225.798

. . Fiscal Receivables

63.483

32.923

188.345

. . . . Within 12 months

30.560

188.345

. . . . Beyond 12 months

32.923

32.923

. . Receivables for anticipated taxes

2.712.727

2.288.388

1.993.959

. . . . Within 12 months

169.480

2.288.388

1.993.959

. . . . Beyond 12 months

2.543.247

. . Receivables due from third parties

33.615

397.870

17.171

. . . . Within 12 months

33.615

397.580

17.171

. . . . Beyond 12 months

290

. Total Credits not held as fixed assets

25.563.491

24.688.279

21.856.065

. 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

1.099.267

451.395

1.446.811

. . Checks

1.000

. . Banknotes and coins

12.750

14.148

143.064

. Total Liquid funds

1.112.017

466.543

1.589.875

Total current assets

33.873.172

32.909.551

29.869.392

ADJUSTMENT ACCOUNTS

. Discount on loans

. Other adjustment accounts

2.049.629

2.344.564

2.761.003

Total adjustments accounts

2.049.629

2.344.564

2.761.003

TOTAL ASSETS

40.533.601

40.935.493

38.936.479

LIABILITIES

STOCKHOLDERS' EQUITY

. Capital stock

4.940.000

4.940.000

4.940.000

. Additional paid-in capital

. Revaluation reserves

10.212.412

10.212.412

10.212.412

. Legal reserve

988.000

988.000

988.000

. Reserve for Own shares

. Statute reserves

. Other reserves

3.312.882

3.093.216

2.645.220

. Accumulated Profits (Losses)

. Profit( loss) of the year

484.048

1.019.668

1.447.995

. Advances on dividends

. Partial loss of the year Coverage

Total Stockholders'Equity

19.937.342

20.253.296

20.233.627

RESERVES FOR RISKS AND CHARGES

. . Reserve for employee termination indem.

2.082.312

1.775.087

1.389.328

. . Taxation fund, also differed

10.000

12.697

. . Other funds

532.493

305.115

91.092

Total Reserves for Risks and Charges

2.614.805

2.090.202

1.493.117

Employee termination indemnities

579.289

611.052

741.250

ACCOUNTS PAYABLE

. . . . Within 12 months

11.870.461

17.404.139

10.809.968

. . . . Beyond 12 months

5.000.000

5.000.000

. . Bonds

5.000.000

5.000.000

5.000.000

. . . . Within 12 months

5.000.000

. . . . Beyond 12 months

5.000.000

5.000.000

. . Convertible bonds repayable

. . . . Within 12 months

. . . . Beyond 12 months

. . Due to shareholders for financing

. . . . Within 12 months

. . . . Beyond 12 months

. . Due to banks

1.273.175

390.264

. . . . Within 12 months

1.273.175

390.264

. . . . Beyond 12 months

. . Due to other providers of finance

. . . . Within 12 months

. . . . Beyond 12 months

. . Advances from customers

52.172

. . . . Within 12 months

52.172

. . . . Beyond 12 months

. . Trade payables

8.878.654

10.290.079

9.095.262

. . . . Within 12 months

8.878.654

10.290.079

9.095.262

. . . . Beyond 12 months

. . Securities issued

. . . . Within 12 months

. . . . Beyond 12 months

. . Due to subsidiary companies

. . . . Within 12 months

. . . . Beyond 12 months

. . Due to associated companies

143.084

. . . . Within 12 months

143.084

. . . . Beyond 12 months

. . Due to holding companies

. . . . Within 12 months

. . . . Beyond 12 months

. . Due to the tax authorities

258.672

343.874

301.926

. . . . Within 12 months

258.672

343.874

301.926

. . . . Beyond 12 months

. . Due to social security and welfare inst.

316.658

304.850

298.376

. . . . Within 12 months

316.658

304.850

298.376

. . . . Beyond 12 months

. . Other payables

1.143.302

1.022.900

971.320

. . . . Within 12 months

1.143.302

1.022.900

971.320

. . . . Beyond 12 months

Total accounts payable

16.870.461

17.404.139

15.809.968

ADJUSTMENT ACCOUNTS

. Agio on loans

. Other adjustment accounts

531.704

576.804

658.517

Total adjustment accounts

531.704

576.804

658.517

TOTAL LIABILITIES

40.533.601

40.935.493

38.936.479

 

MEMORANDUM ACCOUNTS

 

Third party goods

Investment accounts

Risk accounts

Civil and fiscal norms relation

 

PROFIT AND LOSS ACCOUNTS

 

VALUE OF PRODUCTION

. Revenues from sales and services

49.977.858

53.273.560

49.033.257

. Changes in work in progress

-331.387

973.815

417.577

. Changes in semi-manufact. products

. Capitalization of internal work

. Other income and revenues

175.337

175.373

142.854

. . Contributions for operating expenses

. . Different income and revenues

175.337

175.373

142.854

Total value of production

49.821.808

54.422.748

49.593.688

PRODUCTION COSTS

. Raw material,other materials and consum.

21.606.128

25.988.537

22.435.467

. Services received

15.179.424

15.933.413

15.209.100

. Leases and rentals

1.944.095

1.854.223

1.834.269

. Payroll and related costs

6.284.237

6.029.067

5.935.448

. . Wages and salaries

4.609.933

4.358.690

4.330.472

. . Social security contributions

1.640.103

1.572.474

1.567.217

. . Employee termination indemnities

23.959

38.539

31.120

. . Pension and similar

. . Other costs

10.242

59.364

6.639

. Amortization and depreciation

2.225.651

2.091.467

2.045.400

. . Amortization of intangible fixed assets

1.227.380

1.127.293

1.140.482

. . Amortization of tangible fixed assets

598.310

543.260

496.971

. . Depreciation of tangible fixed assets

. . Writedown of current receiv.and of liquid

399.961

420.914

407.947

. Changes in raw materials

225.677

-357.461

-53.612

. Provisions to risk reserves

100.000

. Other provisions

613.784

599.781

139.507

. Other operating costs

564.037

254.960

328.267

Total production costs

48.743.033

52.393.987

47.873.846

Diff. between value and cost of product.

1.078.775

2.028.761

1.719.842

FINANCIAL INCOME AND EXPENSE

. Income from equity investments

. . In subsidiary companies

. . In associated companies

. . In other companies

. Other financial income

19.911

23.403

63.807

. . 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

-250.554

-222.358

398.675

. . Towards subsidiary companies

. . Towards associated companies

. . Towards holding companies

. . Towards other companies

Total financial income and expense

-230.643

-198.955

462.482

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

244.527

19.893

65.825

. . Gains on disposals

. . Other extraordinary income

244.527

19.893

65.825

. Extraordinary expense

-39.202

-9.783

-27.038

. . Losses on disposals

-3.161

. . Taxes relating to prior years

. . Other extraordinary expense

-36.041

-9.783

-27.038

Total extraordinary income and expense

205.325

10.110

38.787

Results before income taxes

1.053.457

1.839.916

2.221.111

. Taxes on current income

569.409

820.248

773.116

. . current taxes

277.327

. . differed taxes(anticip.)

-424.339

. Net income for the period

484.048

1.019.668

1.447.995

. Adjustments in tax regulations pursuance

. Provisions in tax regulations pursuance

. Profit (loss) of the year

484.048

1.019.668

1.447.995

 

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

0,11

0,14

0,16

0,13

Elasticity Ratio

Units

0,84

0,80

0,77

0,83

Availability of stock

Units

0,18

0,19

0,16

0,27

Total Liquidity Ratio

Units

0,66

0,61

0,60

0,52

Quick Ratio

Units

0,03

0,01

0,04

0,03

COMPOSITION ON SOURCE

Net Short-term indebtedness

Units

0,54

0,84

0,46

2,81

Self Financing Ratio

Units

0,49

0,49

0,52

0,20

Capital protection Ratio

Units

0,73

0,71

0,68

0,71

Liabilities consolidation quotient

Units

0,47

0,04

0,53

0,16

Financing

Units

0,85

0,86

0,78

3,28

Permanent Indebtedness Ratio

Units

0,63

0,51

0,67

0,36

M/L term Debts Ratio

Units

0,14

0,01

0,15

0,10

Net Financial Indebtedness Ratio

Units

0,26

0,24

0,17

1,19

CORRELATION

Fixed assets ratio

Units

5,53

3,67

4,12

1,93

Current ratio

Units

2,85

1,89

2,76

1,22

Acid Test Ratio-Liquidity Ratio

Units

2,25

1,45

2,17

0,78

Structure's primary quotient

Units

4,32

3,56

3,21

1,19

Treasury's primary quotient

Units

0,09

0,03

0,15

0,04

Rate of indebtedness ( Leverage )

%

203,30

202,12

192,43

490,08

Current Capital ( net )

Value

22.002.711

15.505.412

19.059.424

761.974

RETURN

Return on Sales

%

5,42

5,84

7,12

2,08

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

%

2,43

5,03

7,16

3,38

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

%

5,28

9,08

10,98

13,74

Return on Investment ( R.O.I. )

%

2,66

4,96

4,42

4,04

Return/ Sales

%

2,16

3,81

3,51

3,71

Extra Management revenues/charges incid.

%

44,87

50,26

84,19

17,68

Cash Flow

Value

2.709.699

3.111.135

3.493.395

114.315

Operating Profit

Value

1.078.775

2.028.761

1.719.842

185.891

Gross Operating Margin

Value

4.018.210

4.720.009

3.904.749

327.882

MANAGEMENT

Credits to clients average term

Days

154,59

142,14

136,93

111,38

Debts to suppliers average term

Days

82,53

84,62

84,24

107,36

Average stock waiting period

Days

51,85

52,40

47,16

89,78

Rate of capital employed return ( Turnover )

Units

1,23

1,30

1,26

1,05

Rate of stock return

Units

6,94

6,87

7,63

3,98

Labour cost incidence

%

12,57

11,32

12,10

11,64

Net financial revenues/ charges incidence

%

-0,46

-0,37

0,94

-1,98

Labour cost on purchasing expenses

%

12,89

11,51

12,40

11,40

Short-term financing charges

%

1,49

1,28

n.c.

3,18

Capital on hand

%

81,10

76,84

79,41

94,61

Sales pro employee

Value

399.822

451.470

401.911

269.210

Labour cost pro employee

Value

50.273

51.093

48.651

31.336

 

 

Market / Territory Data

 

Population living in the province

:

829.418

Population living in the region

:

4.699.950

Number of families in the region

:

1.813.210

 

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

 

- per food products

:

456

- per non food products

:

2.052

- per energy consume

:

127



Statistical Detrimental Data

 

Statistically the trade activity passes through serious crises.

The area is statistically considered lowly risky.

In the region 13.782 protested subjects are found; in the province they count to 2.633.

The insolvency index for the region is 0,30, , while for the province it is 0,32.

Total Bankrupt companies in the province : 2.924.

Total Bankrupt companies in the region : 16.714.

 

 


 

FOREIGN EXCHANGE RATES

 

Currency

Unit

Indian Rupees

US Dollar

1

Rs.61.98

UK Pound

1

Rs.103.31

Euro

1

Rs.85.14

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

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.