MIRA INFORM REPORT

 

 

Report Date :

02.06.2014

 

IDENTIFICATION DETAILS

 

Name :

OMET S.R.L.

 

 

Registered Office :

Via  Caduti Lecch. A Fossoli,    22

23900 – Lecco (LC)

 

 

Country :

Italy

 

 

Financials (as on) :

31.12.2012

 

 

Date of Incorporation :

01.02.1963

 

 

Legal Form :

Sole-Member Limited Liability Company

 

 

Line of Business :
  • General mechanics
  • Manufacture of other metal objects and trinkets

 

 

No. of Employees

from 176 to 200

 

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 – March 31st, 2014

 

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 higher. The Italian economy is driven in large part by the manufacture of high-quality consumer goods produced by small and medium-sized enterprises, many of them family-owned. Italy also has a sizable underground economy, which by some estimates accounts for as much as 17% of GDP. These activities are most common within the agriculture, construction, and service sectors. Italy is the third-largest economy in the euro-zone, but its exceptionally high public debt and structural impediments to growth have rendered it vulnerable to scrutiny by financial markets. Public debt has increased steadily since 2007, topping 133% of GDP in 2013, but investor concerns about Italy and the broader euro-zone crisis eased in 2013, bringing down Italy's borrowing costs on sovereign government debt from euro-era. The government still faces pressure from investors and European partners to sustain its efforts to address Italy's long-standing structural impediments to growth, such as labor market inefficiencies and widespread tax evasion. In 2013 economic growth and labor market conditions deteriorated, with growth at -1.8% and unemployment rising to 12.4%, with youth unemployment around 40%. Italy's GDP is now 8% below its 2007 pre-crisis level.

Source : CIA

 

 

Company name and address

 

OMET S.R.L.

 

Via  Caduti Lecch. A Fossoli,    22

23900 – Lecco (LC)- Italy

 

 

Summary

 

Fiscal Code

:

00204200133

Legal Form

:

Sole-Member Limited Liability Company

start of Activities

:

01/02/1963

Equity

:

Over 2.582.254

Turnover Range

:

50.000.000/75.000.000

Number of Employees

:

from 176 to 200

 

 

n.b.: The Creditworthness Rate shows, in percentage, the ratio between the suggested credit opinion and the credit amount that the firm could get if the financial situation would be completely positive.

 

 

Activity

 

General mechanics

Manufacture of other metal objects and trinkets

 

 

Legal Data

 

Legal Form : Sole-Member Limited Liability Company

Fiscal Code : 00204200133

 

Foreign Trade Reg. no. : LC002728 since 18/12/1991

 

Foreign Trade Reg. no. : 2728 of Lecco since 18/12/1991

 

Foreign Trade Reg. no. : 002728 of Lecco since 18/12/1991

 

Chamber of Commerce no. : 100538 of Como

 

Chamber of Commerce no. : 100538 of Lecco since 18/02/1963

 

Chamber of Commerce no. : 339711 of Varese

 

Firms' Register : LC042-2203 of Lecco since 19/02/1996

 

V.A.T. Code : 00204200133

 

Tribunal Co. Register : 2203 of

 

Foundation date

: 01/02/1963

Establishment date

: 01/02/1963

Start of Activities

: 01/02/1963

Legal duration

: 31/12/2050

Nominal Capital

: 2.000.000

Subscribed Capital

: 2.000.000

Paid up Capital

: 2.000.000

 

 

Members

 

Bartesaghi

Antonio

 

Born in Lecco

(CO)

on 29/04/1971

- Fiscal Code : BRTNTN71D29E507X

 

Residence:

Ai Poggi

, 85

- 23900

Lecco

(LC)

- IT -

 

Position

Since

Shares Amount

% Ownership

Director

02/11/1993

Managing Director

28/05/2012

Board Chairman

21/12/2011

 

No Prejudicial events are reported

 

No Protests registered

 

Sandretti

Antonio

 

Born in Traona

(SO)

on 06/04/1964

- Fiscal Code : SNDNTN64D06L330F

 

Residence:

Leopardi

, 1

- 23900

Lecco

(LC)

- IT -

 

Position

Since

Shares Amount

% Ownership

Attorney with special power

21/10/1994

 

No Prejudicial events are reported

 

No Protests registered

 

Fin - Omet S.r.l.

 

 

Residence:

Caduti Lecchesi A Fossoli

, 22

- 23900

Lecco

(LC)

- IT -

 

Position

Since

Shares Amount

% Ownership

Sole partner

07/11/2005

 

No Prejudicial events are reported

 

No Protests registered

 

Bartesaghi

Paola

 

Born in Lecco

(CO)

on 11/10/1969

- Fiscal Code : BRTPLA69R51E507R

 

Residence:

Ai Poggi

, 85

- 23900

Lecco

(LC)

- IT -

 

Position

Since

Shares Amount

% Ownership

Director

09/05/2000

Assistant board Chairman

28/05/2012

 

No Prejudicial events are reported

 

No Protests registered

 

Bartesaghi

Raffaella

 

Born in Lecco

(CO)

on 27/02/1977

- Fiscal Code : BRTRFL77B67E507X

 

Residence:

Ai Poggi

, 85

- 23900

Lecco

(LC)

- IT -

 

Position

Since

Shares Amount

% Ownership

Director

01/08/2007

 

Fin - Omet S.r.l.

 

 

Position

Since

Shares Amount

% Ownership

Partner

 

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.

 

Bartesaghi

Antonio

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

O-pac S.r.l.

Oggiono (LC) - IT -

01826680132

Director

Active

Registered

O-pac S.r.l.

Oggiono (LC) - IT -

01826680132

Managing Director

Active

Registered

O-pac S.r.l.

Oggiono (LC) - IT -

01826680132

Board Chairman

Active

Registered

Fin - Omet S.r.l.

Lecco (LC) - IT -

01787160132

Director

Active

Registered

Fin - Omet S.r.l.

Lecco (LC) - IT -

01787160132

Managing Director

Active

Registered

Fin - Omet S.r.l.

Lecco (LC) - IT -

01787160132

Board Chairman

Active

Registered

Associazione Cancro Primo Aiuto Onlus

Monza (MB) - IT -

02822170961

Vice-Chairman

Active

Registered

Imm-ba S.r.l.

Lecco (LC) - IT -

02920030133

Director

Active

Registered

Li-fe Energy S.r.l.

Lecco (LC) - IT -

03279140135

Sole Director

Active

Registered

Li-fe Energy S.r.l.

Lecco (LC) - IT -

03279140135

Sole partner

Active

Registered

Solar Tecnology S.r.l.

Lecco (LC) - IT -

02041350444

Sole Director

Active

Registered

Fondazione Per La Salvaguardia Della Cultura Industriale - A.badoni

Lecco (LC) - IT -

92065350131

Director

Active

Registered

 

Fin - Omet S.r.l.

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

O-pac S.r.l.

Oggiono (LC) - IT -

01826680132

Sole partner

Active

Registered

 

Bartesaghi

Paola

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

O-pac S.r.l.

Oggiono (LC) - IT -

01826680132

Director

Active

Registered

O-pac S.r.l.

Oggiono (LC) - IT -

01826680132

Assistant board Chairman

Withdrawn

Registered

O-pac S.r.l.

Oggiono (LC) - IT -

01826680132

Managing Director

Withdrawn

Registered

Fin - Omet S.r.l.

Lecco (LC) - IT -

01787160132

Director

Active

Registered

Imm-ba S.r.l.

Lecco (LC) - IT -

02920030133

Director

Active

Registered

Imm-ba S.r.l.

Lecco (LC) - IT -

02920030133

Managing Director

Active

Registered

Imm-ba S.r.l.

Lecco (LC) - IT -

02920030133

Board Chairman

Active

Registered

Emmepi S.n.c. Di Calcagni Maria E Bartesaghi Paola

Premana (LC) - IT -

03166010136

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.



Capital Shareholders

 

Shareholders' list as at date of data collection:

 

Firm's Style / Name

Seat / Residence

Fiscal Code

Owned Shares

% Ownership

Fin - Omet S.r.l.

Lecco - IT -

01787160132

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

Tissue Italy

Lucca - IT -

02339490464

Active



Firm's location and structure

 

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

 

-

Legal and operative seat

 

Caduti Lecch. A Fossoli

, 22

- 22053

- Lecco

(LC)

- IT -

 

PHONE

: 0341367513

 

-

Branch

(Factory)

since 02/11/1987

 

Monsignor Giuseppe Polvara

, 10

- 22053

- Lecco

(LC)

- IT -

 

PHONE

: 0341282661

 

-

Branch

(Warehouse)

since 27/03/1997

 

Monsignor Polvara

- 22053

- Lecco

(LC)

- IT -

 

PHONE

: 0341282661

 

-

Branch

(Factory)

since 23/08/1999

 

Ponte Alimasco

, 5/7

- 22053

- Lecco

(LC)

- IT -

 

-

Branch

(Warehouse)

since 01/01/2000

 

Mons. Polvara

, 14/E

- 22053

- Lecco

(LC)

- IT -

 

-

Branch

(Warehouse)

since 03/05/2004

 

Ponte Alimasco

, 3

- 22053

- Lecco

(LC)

- IT -

 

-

Branch

(Factory)

since 01/02/2012

 

Casnedi

, 96

- 22049

- Valmadrera

(LC)

- IT -

 

-

Branch

(Factory)

since 29/05/2012

 

Maestri Del Lavoro Z.i.

, //

- 21040

- Cislago

(VA)

- IT -

 

Employees

: 199

 

Fittings and Equipment for a value of 1.120.000

Eur

 

Stocks for a value of 18.490.000

Eur

 

Vehicles for a value of 62.000

Eur

 

Trade organization: direct or by agents.

Sales area on a national scale.

Transports are mainly done using own vehicles and third parties ones

The company 's mainly customers are companies.

To purchase foreign products the firm uses the following channels :

- direct orders to foreign companies

Export represents from 20% to 50% of the global turnover.

Products abroad are placed by :

- direct orders from foreign companies

Subject generally proposes terms of sale between 30 and 60 days.

Financial means used for sale: bank transfers and bank orders.

Purchase terms: 60-90-120 days.

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

 

Export is mainly towards:

- Bulgaria

 

- Italy

 

- France

 

- Belgium

 

- Cyprus

 

- Gabon

 

- Austria

 

 

Historical Information and/or Firm's Status

 

CHANGES TO THE LEGAL FORM:

 

Former legal form

New legal form

Changement Date

Ordinary partnership

General partnership

23/01/1967

General partnership

Limited liability company

22/12/1980

 

EX-MEMBERS / EX-POSITIONS:

 

Campidori

Stefania

 

Born in Lecco

(CO)

on 31/05/1968

- Fiscal Code : CMPSFN68E71E507H

 

Residence:

Raffaello

, 19

- 23900

Lecco

(LC)

- IT -

 

Ex-Postions

Temporary Auditor

 

Motta

Mario

 

Born in Monza

(MB)

on 16/08/1965

- Fiscal Code : MTTMRA65M16F704A

 

Residence:

Trieste

, 33

- 20042

Albiate

(MI)

- IT -

 

Ex-Postions

Temporary Auditor

 

Gattinoni

Franco

 

Born in Lecco

(CO)

on 22/07/1925

- Fiscal Code : GTTFNC25L22E507A

 

Residence:

Roccolo

, 12

- 22053

Lecco

(LC)

- IT -

 

Ex-Postions

Managing Director

 

Forcellini

Rosita

 

Born in Lecco

(CO)

on 24/07/1952

- Fiscal Code : FRCRST52L64E507V

 

Residence:

Seminario

, 22

- 23900

Lecco

(LC)

- IT -

 

Ex-Postions

Chairman of the Board of Aud.

Permanent Auditor

 

Bolis

Giacomo

 

Born in Lecco

(CO)

on 28/12/1941

- Fiscal Code : BLSGCM41T28E507V

 

Residence:

Dei Marchesini N. 7

, 7

- 23900

Lecco

(LC)

- IT -

 

Ex-Postions

Director

Managing Director

 

Bartesaghi

Paola

 

Born in Lecco

(CO)

on 11/10/1969

- Fiscal Code : BRTPLA69R51E507R

 

Residence:

Ai Poggi

, 85

- 23900

Lecco

(LC)

- IT -

 

Ex-Postions

Managing Director

 

Bartesaghi

Angelo

 

Born in Lecco

(CO)

on 27/06/1933

- Fiscal Code : BRTNGL33H27E507U

 

Residence:

Ai Poggi

, 85

- 23900

Lecco

(LC)

- IT -

 

Ex-Postions

Chairman

Director

Board Chairman

 

BARTESAGHI

ANTONIO

 

Born in LECCO

(CO)

on 29/04/1971

- Fiscal Code : BRTNTN71D29E507X

 

Residence:

AI POGGI

, 85

- 23900

Lecco

(LC)

- IT -

 

Ex-Postions

Director

 

Favati

Paola

 

Born in Lucca

(LU)

on 27/03/1960

- Fiscal Code : FVTPLA60C67E715P

 

Residence:

Vittor Pisani

, 12/A

- 20124

Milano

(MI)

- IT -

 

Ex-Postions

Permanent Auditor

 

Tosi

Franco

 

Born in Busto Arsizio

(VA)

on 12/08/1941

- Fiscal Code : TSOFNC41M12B300J

 

Residence:

Castiglioni

, 4

- 21020

Casale Litta

(VA)

- IT -

 

Ex-Postions

Permanent Auditor



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 1963

Balance sheets for the years 2010, 2011 and 2012 were analyzed.

During the last years, it recorded positive net results (r.o.e. 4,65% in 2012) with a remarkable upward trend (+8,34% on 2012 compared to 2011 and +12,78% on 2011 compared to 2010).

The operating result was positive in the last financial year (3,46%) and in line with the sector's average.

The amount of the operating result for the year 2012 is of Eur. 1.675.824 showing a downwards trend equal to -55,55% if compared to the value of the financial year 2011.

The economic management produced a gross operating margin of Eur. 2.443.729 showing a drop (-44,09%).

The analysis shows a fair financial position as the indebtedness volume is acceptable (1,18) even though on the increase if compared to 2011.

Subject can manage an equity capital funds for an amount of Eur. 19.620.994 on the same levels as the year before.

Eur. 25.958.562 is the amount of total debts, both commercial and of different nature, with no important change.

Financial debts exposure is under control while the recourse to commercial credit is rather frequent however still within the sector's average.

Liquidity is good (1,51)

On average trade credits are collected in 69,46 days. , a better value than the sector's average.

The financial management generated a cash flow of Eur. 1.480.557.

Subordinate employment cost is of Eur. 12.233.829, i.e. 21,4% on total production costs. , whereas 21,18% is the incidence on sales revenues.

Limited financial charges in relation to sales volume.

 


Financial Data

 

Complete balance-sheet for the year

al 31/12/2012

(in Eur

x 1)

 

Item Type

Value

Sales

57.756.787

Profit (Loss) for the period

912.652

 

Complete balance-sheet for the year

al 31/12/2011

(in Eur

x 1)

 

Item Type

Value

Sales

53.307.634

Profit (Loss) for the period

1.818.986

 

Complete balance-sheet for the year

al 31/12/2010

(in Eur

x 1)

 

Item Type

Value

Sales

47.266.571

Profit (Loss) for the period

606.740

 

Complete balance-sheet for the year

al 31/12/2009

(in Eur

x 1)

 

Item Type

Value

Sales

33.452.509

Profit (Loss) for the period

-1.007.393

 

Complete balance-sheet for the year

al 31/12/2008

(in Eur

x 1)

 

Item Type

Value

Sales

41.745.957

Profit (Loss) for the period

628.613



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

68.055

58.072

91.024

. . Concessions,licenses,trademarks,etc.

52.478

57.616

55.786

. . Goodwill

. . Assets in formation and advance paymen.

. . Other intangible fixed assets

109.599

6.969

55.756

. Total Intangible Fixed Assets

230.132

122.657

202.566

. TANGIBLE FIXED ASSETS

. . Real estate

7.255.482

7.365.977

7.460.986

. . Plant and machinery

993.323

715.881

463.468

. . Industrial and commercial equipment

129.254

109.701

132.218

. . Other assets

275.673

173.923

133.848

. . Assets under construction and advances

30.000

302.423

. Total Tangible fixed assets

8.653.732

8.395.482

8.492.943

. FINANCIAL FIXED ASSETS

. . Equity investments

180.420

423.420

879.934

. . . Equity invest. in subsidiary companies

179.650

422.650

879.164

. . . Equity invest. in associated companies

. . . Equity invest. in holding companies

. . . Equity invest. in other companies

770

770

770

. . 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

180.420

423.420

879.934

Total fixed assets

9.064.284

8.941.559

9.575.443

CURRENT ASSETS

. INVENTORIES

. . Raw materials and other consumables

3.313.515

3.685.693

3.095.922

. . Work in progress and semimanufactured

12.676.544

12.503.472

12.276.327

. . Work in progress on order

. . Finished goods

1.862.998

1.758.197

1.390.966

. . Advance payments

633.768

1.225.726

1.195.287

. Total Inventories

18.486.825

19.173.088

17.958.502

. CREDITS NOT HELD AS FIXED ASSETS

. . Within 12 months

14.770.150

13.970.139

14.307.142

. . Beyond 12 months

3.228.241

900.426

586.024

. . Trade receivables

11.143.560

11.270.188

12.163.234

. . . . Within 12 months

11.031.040

10.870.188

11.994.444

. . . . Beyond 12 months

112.520

400.000

168.790

. . Receivables due from subsid. comp.

3.286.262

1.872.769

1.312.191

. . . . Within 12 months

841.006

1.522.769

962.191

. . . . Beyond 12 months

2.445.256

350.000

350.000

. . Receivables due from assoc. comp.

66.007

204.196

52.802

. . . . Within 12 months

66.007

104.196

52.802

. . . . Beyond 12 months

100.000

. . Receivables due from holding comp.

1.138.954

1.815

1.800

. . . . Within 12 months

790.946

1.815

1.800

. . . . Beyond 12 months

348.008

. . Fiscal Receivables

1.827.337

882.044

776.580

. . . . Within 12 months

1.504.880

831.618

709.346

. . . . Beyond 12 months

322.457

50.426

67.234

. . Receivables for anticipated taxes

245.033

200.836

191.777

. . . . Within 12 months

245.033

200.836

191.777

. . . . Beyond 12 months

. . Receivables due from third parties

291.238

438.717

394.782

. . . . Within 12 months

291.238

438.717

394.782

. . . . Beyond 12 months

. Total Credits not held as fixed assets

17.998.391

14.870.565

14.893.166

. 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

2.693.646

1.307.326

2.378.245

. . Checks

. . Banknotes and coins

19.135

37.705

22.450

. Total Liquid funds

2.712.781

1.345.031

2.400.695

Total current assets

39.197.997

35.388.684

35.252.363

ADJUSTMENT ACCOUNTS

. Discount on loans

186.120

213.560

152.425

. Other adjustment accounts

Total adjustments accounts

186.120

213.560

152.425

TOTAL ASSETS

48.448.401

44.543.803

44.980.231

LIABILITIES

STOCKHOLDERS' EQUITY

. Capital stock

2.000.000

2.000.000

2.000.000

. Additional paid-in capital

. Revaluation reserves

7.010.218

7.010.218

7.010.218

. Legal reserve

194.671

103.722

73.385

. Reserve for Own shares

. Statute reserves

. Other reserves

9.503.453

7.775.425

7.199.018

. Accumulated Profits (Losses)

. Profit( loss) of the year

912.652

1.818.986

606.740

. Advances on dividends

. Partial loss of the year Coverage

Total Stockholders'Equity

19.620.994

18.708.351

16.889.361

RESERVES FOR RISKS AND CHARGES

. . Reserve for employee termination indem.

. . Taxation fund, also differed

228.413

30.716

59.276

. . Other funds

Total Reserves for Risks and Charges

228.413

30.716

59.276

Employee termination indemnities

2.585.115

2.590.665

2.592.346

ACCOUNTS PAYABLE

. . . . Within 12 months

25.958.562

23.083.846

24.344.659

. . . . Beyond 12 months

957.328

. . 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

5.492.912

4.447.825

7.136.079

. . . . Within 12 months

5.492.912

4.447.825

6.212.911

. . . . Beyond 12 months

923.168

. . Due to other providers of finance

. . . . Within 12 months

. . . . Beyond 12 months

. . Advances from customers

4.640.479

3.346.644

3.981.093

. . . . Within 12 months

4.640.479

3.346.644

3.981.093

. . . . Beyond 12 months

. . Trade payables

11.389.695

10.350.531

10.030.306

. . . . Within 12 months

11.389.695

10.350.531

9.996.146

. . . . Beyond 12 months

34.160

. . Securities issued

. . . . Within 12 months

. . . . Beyond 12 months

. . Due to subsidiary companies

521.459

387.797

72.915

. . . . Within 12 months

521.459

387.797

72.915

. . . . Beyond 12 months

. . Due to associated companies

523.469

343.483

406.388

. . . . Within 12 months

523.469

343.483

406.388

. . . . Beyond 12 months

. . Due to holding companies

648.136

404.057

. . . . Within 12 months

648.136

404.057

. . . . Beyond 12 months

. . Due to the tax authorities

348.490

378.788

426.879

. . . . Within 12 months

348.490

378.788

426.879

. . . . Beyond 12 months

. . Due to social security and welfare inst.

970.646

950.981

840.190

. . . . Within 12 months

970.646

950.981

840.190

. . . . Beyond 12 months

. . Other payables

2.071.412

2.229.661

2.004.080

. . . . Within 12 months

2.071.412

2.229.661

2.004.080

. . . . Beyond 12 months

Total accounts payable

25.958.562

23.083.846

25.301.987

ADJUSTMENT ACCOUNTS

. Agio on loans

. Other adjustment accounts

55.317

130.225

137.261

Total adjustment accounts

55.317

130.225

137.261

TOTAL LIABILITIES

48.448.401

44.543.803

44.980.231

 

MEMORANDUM ACCOUNTS

 

Third party goods

Investment accounts

Risk accounts

1.992.516

1.567.590

Civil and fiscal norms relation

 

PROFIT AND LOSS ACCOUNTS

 

VALUE OF PRODUCTION

. Revenues from sales and services

57.756.789

53.307.636

47.266.574

. Changes in work in progress

277.873

594.376

1.403.125

. Changes in semi-manufact. products

. Capitalization of internal work

66.304

9.051

. Other income and revenues

747.148

245.330

134.476

. . Contributions for operating expenses

504.907

61.121

2.500

. . Different income and revenues

242.241

184.209

131.976

Total value of production

58.848.114

54.156.393

48.804.175

PRODUCTION COSTS

. Raw material,other materials and consum.

33.664.271

29.451.350

26.778.401

. Services received

8.931.811

8.122.947

7.952.694

. Leases and rentals

962.287

724.594

678.863

. Payroll and related costs

12.233.829

11.669.980

10.940.322

. . Wages and salaries

8.823.639

8.390.454

7.904.416

. . Social security contributions

2.787.709

2.674.020

2.490.886

. . Employee termination indemnities

614.043

597.939

538.908

. . Pension and similar

. . Other costs

8.438

7.567

6.112

. Amortization and depreciation

567.905

600.163

569.098

. . Amortization of intangible fixed assets

55.611

130.284

157.300

. . Amortization of tangible fixed assets

455.294

411.879

347.298

. . Depreciation of tangible fixed assets

. . Writedown of current receiv.and of liquid

57.000

58.000

64.500

. Changes in raw materials

372.178

-589.771

142.391

. Provisions to risk reserves

200.000

. Other provisions

. Other operating costs

240.009

406.271

261.617

Total production costs

57.172.290

50.385.534

47.323.386

Diff. between value and cost of product.

1.675.824

3.770.859

1.480.789

FINANCIAL INCOME AND EXPENSE

. Income from equity investments

. . In subsidiary companies

. . In associated companies

. . In other companies

. Other financial income

67.926

89.963

122.397

. . 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

67.926

89.963

122.397

. . . - Subsidiary companies

. . . - Associated companies

. . . - Holding companies

. . . - Other companies

67.926

89.963

122.397

. Interest and other financial expense

-246.958

-31.416

-152.479

. . Towards subsidiary companies

. . Towards associated companies

. . Towards holding companies

. . Towards other companies

246.958

31.416

152.479

Total financial income and expense

-179.032

58.547

-30.082

ADJUSTMENTS TO FINANCIAL ASSETS

. Revaluations

5.000

. . Of equity investments

5.000

. . Of financ.fixed assets not repres.E.I.

. . Of securities incl.among current assets

. Devaluation

-248.000

-466.000

. . Of equity investments

-248.000

-466.000

. . Of financial fixed assets (no equity inv)

. . Of securities included among current ass

Total adjustments to financial assets

-243.000

-466.000

EXTRAORDINARY INCOME AND EXPENSE

. Extraordinary income

401.763

119.963

32.684

. . Gains on disposals

. . Other extraordinary income

401.763

119.963

32.684

. Extraordinary expense

-166.077

-172.427

-239.743

. . Losses on disposals

-17.683

. . Taxes relating to prior years

. . Other extraordinary expense

-166.077

-154.744

-239.743

Total extraordinary income and expense

235.686

-52.464

-207.059

Results before income taxes

1.489.478

3.310.942

1.243.648

. Taxes on current income

576.826

1.491.956

636.908

. . current taxes

623.326

1.529.575

678.870

. . differed taxes(anticip.)

-46.500

-37.619

-41.962

. Net income for the period

912.652

1.818.986

606.740

. Adjustments in tax regulations pursuance

. Provisions in tax regulations pursuance

. Profit (loss) of the year

912.652

1.818.986

606.740

 

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

0,19

0,20

0,21

0,28

Elasticity Ratio

Units

0,81

0,79

0,78

0,69

Availability of stock

Units

0,38

0,43

0,40

0,18

Total Liquidity Ratio

Units

0,43

0,36

0,38

0,47

Quick Ratio

Units

0,06

0,03

0,05

0,02

COMPOSITION ON SOURCE

Net Short-term indebtedness

Units

1,18

1,16

1,30

2,32

Self Financing Ratio

Units

0,40

0,42

0,38

0,23

Capital protection Ratio

Units

0,85

0,80

0,85

0,74

Liabilities consolidation quotient

Units

0,10

0,11

0,15

0,24

Financing

Units

1,32

1,23

1,50

2,86

Permanent Indebtedness Ratio

Units

0,46

0,48

0,45

0,42

M/L term Debts Ratio

Units

0,05

0,06

0,08

0,13

Net Financial Indebtedness Ratio

Units

0,14

0,17

0,28

0,91

CORRELATION

Fixed assets ratio

Units

2,45

2,38

2,13

1,37

Current ratio

Units

1,51

1,53

1,45

1,21

Acid Test Ratio-Liquidity Ratio

Units

0,80

0,70

0,71

0,84

Structure's primary quotient

Units

2,16

2,09

1,76

0,86

Treasury's primary quotient

Units

0,10

0,06

0,10

0,04

Rate of indebtedness ( Leverage )

%

246,92

238,10

266,32

422,49

Current Capital ( net )

Value

13.239.435

12.304.838

10.907.704

281.462

RETURN

Return on Sales

%

2,56

4,54

2,49

3,68

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

%

4,65

9,72

3,59

3,84

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

%

7,59

17,70

7,36

12,87

Return on Investment ( R.O.I. )

%

3,46

8,47

3,29

4,59

Return/ Sales

%

2,90

7,07

3,13

4,38

Extra Management revenues/charges incid.

%

54,46

48,24

40,97

22,35

Cash Flow

Value

1.480.557

2.419.149

1.175.838

131.799

Operating Profit

Value

1.675.824

3.770.859

1.480.789

134.410

Gross Operating Margin

Value

2.443.729

4.371.022

2.049.887

257.621

MANAGEMENT

Credits to clients average term

Days

69,46

76,11

92,64

106,38

Debts to suppliers average term

Days

102,77

110,26

110,96

123,44

Average stock waiting period

Days

115,23

129,48

136,78

62,20

Rate of capital employed return ( Turnover )

Units

1,19

1,20

1,05

1,07

Rate of stock return

Units

3,12

2,78

2,63

5,77

Labour cost incidence

%

21,18

21,89

23,15

17,51

Net financial revenues/ charges incidence

%

-0,31

0,11

-0,06

-1,55

Labour cost on purchasing expenses

%

21,40

23,16

23,12

17,84

Short-term financing charges

%

0,95

0,14

0,60

3,12

Capital on hand

%

83,88

83,56

95,16

93,68

Sales pro employee

Value

151.195

146.449

138.611

193.450

Labour cost pro employee

Value

32.025

32.060

32.083

33.229

 

 

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

:

322.150

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 1.399 significant companies.

 

The companies cash their credits on an average of 106 dd.

The average duration of suppliers debts is about 123 dd.

The sector's profitability is on an average of 3,68%.

The labour cost affects the turnover in the measure of 17,51%.

Goods are held in stock in a range of 62 dd.

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

The employees costs represent the 17,84% of the production costs.

 

 

Statistical Detrimental Data

 

Statistcally the trade activity shows periods of crisis.

The area is statistically considered moderately risky.

In the region 50.886 protested subjects are found; in the province they count to 1.666.

The insolvency index for the region is 0,55, , while for the province it is 0,52.

Total Bankrupt companies in the province : 940.

Total Bankrupt companies in the region : 39.612.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.59.03

UK Pound

1

Rs.98.91

Euro

1

Rs.80.34

                

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

Report Prepared by :

SDA

               

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.