MIRA INFORM REPORT
|
Report Date : |
23.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
ITALCONTROL
S.R.L. |
|
|
|
|
Registered Office : |
Via Stelvio, 355, 21050 – Marnate
(VA) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
13.07.1992 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
· Manufacturer of electricity distribution and control apparatus · Manufacturer of test benches for calibration and testing of industrial valves |
|
|
|
|
No of Employees : |
11 |
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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Italy |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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 & address
Italcontrol S.r.l.
Via Stelvio, 355
21050 - Marnate (VA) -IT-
Summary
|
Fiscal Code |
: |
02064720127 |
|
Legal Form |
: |
Limited liability company |
|
start of Activities |
: |
13/07/1992 |
|
Equity |
: |
250.000 |
|
Turnover Range |
: |
5.000.000/6.500.000 |
|
Number of Employees |
: |
11 |
Activity
· Manufacturer of electricity distribution and control apparatus
·
Manufacturer of test benches for calibration and
testing of industrial valves
·
Legal
Data
Legal Form : Limited liability company
|
Fiscal Code : 02064720127 |
|
Chamber of Commerce no. : 227767 of Varese
since 18/09/1992 |
|
V.A.T. Code : 02064720127 |
|
Tribunal Co. Register : 26200 of since
17/09/1992 |
|
Foundation date |
: 13/07/1992 |
|
|
Establishment date |
: 13/07/1992 |
|
|
Start of Activities |
: 13/07/1992 |
|
|
Legal duration |
: 31/12/2050 |
|
|
Nominal Capital |
: 25.500 |
|
|
Subscribed Capital |
: 25.500 |
|
|
Paid up Capital |
: 25.500 |
Members
|
|
Castiglioni |
Fabio |
|
|
Born in Legnano |
(MI) |
on 01/02/1959 |
- Fiscal Code : CSTFBA59B01E514N |
|
|
Residence: |
Montebello |
, 41 |
- 20025 |
Legnano |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Sole Director |
10/05/2014 |
|
|
No
Prejudicial events are reported |
|
|
No Protests
registered |
|
|
Mariani |
Rosanna |
|
|
Born in Legnano |
(MI) |
on 14/06/1962 |
- Fiscal Code : MRNRNN62H54E514Y |
|
|
Residence: |
Montebello |
, 41 |
- 20025 |
Legnano |
(MI) |
- IT - |
|
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.
|
|
Castiglioni |
Fabio |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Italiana Collaudi S.r.l. |
Marnate (VA) - IT - |
03065240123 |
Director |
Active |
Registered |
|
Italiana Collaudi S.r.l. |
Marnate (VA) - IT - |
03065240123 |
Board Chairman |
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 |
|
Castiglioni Fabio |
Legnano - IT - |
CSTFBA59B01E514N |
13.260 .Eur |
52,00 |
|
Mariani Rosanna |
Legnano - IT - |
MRNRNN62H54E514Y |
7.140 .Eur |
28,00 |
|
Castiglioni Carlo |
CSTCRL94E17F205D |
2.550 .Eur |
10,00 |
|
|
Castiglioni Elisabetta |
CSTLBT91L64F205B |
2.550 .Eur |
10,00 |
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 |
|
Italiana Collaudi S.r.l. |
Marnate - IT - |
03065240123 |
15.000 .Eur |
50,00 |
Active |
Firm's
location and structure
In order to carry out its
activities the firm uses the following locations:
|
- |
Legal and
operative seat |
|
Stelvio |
, 355 |
- 21050 |
- Marnate |
(VA) |
- IT - |
|
Employees |
: 11 |
|
Fittings and Equipment for a value of
5.000 |
Eur |
|
Stocks for a value of 99.000 |
Eur |
|
Furniture and fittings for a value of
8.000 |
Eur |
Historical Information and/or Firm's Status
EX-MEMBERS
/ EX-POSITIONS:
|
|
Castiglioni |
Fabio |
|
|
Born in Legnano |
(MI) |
on 01/02/1959 |
- Fiscal Code : CSTFBA59B01E514N |
|
|
Residence: |
Montebello |
, 41 |
- 20025 |
Legnano |
(MI) |
- IT - |
|
Ex-Postions |
|
Sole Director |
|
Board Chairman |
|
|
Mariani |
Rosanna |
|
|
Born in Legnano |
(MI) |
on 14/06/1962 |
- Fiscal Code : MRNRNN62H54E514Y |
|
|
Residence: |
Montebello |
, 41 |
- 20025 |
Legnano |
(MI) |
- IT - |
|
Ex-Postions |
|
Managing Director |
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
Subject is active since 1992
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. 84,07% on 2012) keeping the turnover steady during the
last two years.
The operating result in 2012 was
positive (13,54%) and in line with the sector's average.
The amount of the operating
result for the year 2012 is of Eur. 351.301 recording a drop as opposed to the
year before (-20,47%).
During the latest financial year
the gross operating margin amounted to Eur. 444.889 , stable if compared to the
year before.
The ratio between shareholder's
equity and borrowed capital is not well balanced, the indebtedness level is
equal to 8,31 with an upward trend.
The equity capital is equal to
Eur. 231.993 showing a -52,74% drop.
Total indebtedness totalled Eur.
2.129.436, showing a stable trend as opposed to 2011 (Eur. 2.542.637).
Available funds are good.
2012 financial year closed with
a cash flow of Eur. 288.626
In the last financial year
labour cost was of Eur. 579.151, with a 10,71% incidence on total costs of
production. , whereas 10,1% is the incidence on sales revenues.
The financial charges do not
negatively affect the management, as they are covered by the incomes.
Financial Data
|
|
Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
5.735.017 |
|
Profit (Loss) for the period |
195.038 |
|
|
Complete balance-sheet for the year |
al 31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
5.460.562 |
|
Profit (Loss) for the period |
244.218 |
|
|
Complete balance-sheet for the year |
al 31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
5.005.271 |
|
Profit (Loss) for the period |
241.635 |
|
|
Complete balance-sheet for the year |
al 31/12/2009 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
4.775.158 |
|
Profit (Loss) for the period |
203.229 |
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 |
|
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|
|
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 |
0,14 |
0,12 |
0,18 |
0,18 |
|
Elasticity Ratio |
Units |
0,83 |
0,83 |
0,75 |
0,78 |
|
Availability of stock |
Units |
0,04 |
0,05 |
0,03 |
0,23 |
|
Total Liquidity Ratio |
Units |
0,79 |
0,78 |
0,71 |
0,50 |
|
Quick Ratio |
Units |
0,16 |
0,21 |
0,17 |
0,03 |
|
COMPOSITION ON
SOURCE |
|||||
|
Net Short-term indebtedness |
Units |
8,31 |
4,04 |
2,91 |
2,78 |
|
Self Financing Ratio |
Units |
0,09 |
0,15 |
0,20 |
0,22 |
|
Capital protection Ratio |
Units |
0,05 |
0,45 |
0,40 |
0,48 |
|
Liabilities consolidation quotient |
Units |
0,08 |
0,06 |
0,07 |
0,17 |
|
Financing |
Units |
9,18 |
5,18 |
3,74 |
3,30 |
|
Permanent Indebtedness Ratio |
Units |
0,15 |
0,20 |
0,25 |
0,40 |
|
M/L term Debts Ratio |
Units |
0,06 |
0,04 |
0,05 |
0,09 |
|
Net Financial Indebtedness Ratio |
Units |
n.c. |
0,00 |
0,00 |
0,69 |
|
CORRELATION |
|||||
|
Fixed assets ratio |
Units |
1,09 |
1,57 |
1,36 |
1,79 |
|
Current ratio |
Units |
1,01 |
1,07 |
1,02 |
1,17 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
0,97 |
1,00 |
0,98 |
0,80 |
|
Structure's primary quotient |
Units |
0,64 |
1,21 |
1,07 |
1,40 |
|
Treasury's primary quotient |
Units |
0,20 |
0,26 |
0,23 |
0,03 |
|
Rate of indebtedness ( Leverage ) |
% |
1118,08 |
661,10 |
511,57 |
445,68 |
|
Current Capital ( net ) |
Value |
25.843 |
165.533 |
40.199 |
86.022 |
|
RETURN |
|||||
|
Return on Sales |
% |
5,03 |
6,08 |
6,42 |
2,66 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
84,07 |
49,74 |
54,09 |
3,16 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
152,03 |
85,95 |
92,45 |
7,02 |
|
Return on Investment ( R.O.I. ) |
% |
13,54 |
13,61 |
18,83 |
2,87 |
|
Return/ Sales |
% |
6,13 |
8,09 |
8,60 |
3,95 |
|
Extra Management revenues/charges incid. |
% |
55,52 |
55,28 |
56,14 |
43,33 |
|
Cash Flow |
Value |
288.626 |
331.758 |
321.129 |
36.837 |
|
Operating Profit |
Value |
351.301 |
441.747 |
430.433 |
45.533 |
|
Gross Operating Margin |
Value |
444.889 |
529.287 |
509.927 |
76.896 |
|
MANAGEMENT |
|||||
|
Credits to clients average term |
Days |
n.c. |
n.c. |
n.c. |
118,46 |
|
Debts to suppliers average term |
Days |
n.c. |
145,81 |
125,21 |
135,44 |
|
Average stock waiting period |
Days |
6,21 |
10,71 |
5,54 |
65,94 |
|
Rate of capital employed return ( Turnover
) |
Units |
2,21 |
1,68 |
2,19 |
0,94 |
|
Rate of stock return |
Units |
57,98 |
33,62 |
64,93 |
4,76 |
|
Labour cost incidence |
% |
10,10 |
8,92 |
8,08 |
17,89 |
|
Net financial revenues/ charges incidence |
% |
0,03 |
-0,27 |
0,22 |
-1,68 |
|
Labour cost on purchasing expenses |
% |
10,71 |
9,70 |
8,84 |
15,64 |
|
Short-term financing charges |
% |
1,37 |
1,38 |
1,05 |
2,37 |
|
Capital on hand |
% |
45,23 |
59,44 |
45,66 |
106,28 |
|
Sales pro employee |
Value |
318.612 |
364.037 |
417.105 |
177.048 |
|
Labour cost pro employee |
Value |
32.175 |
32.487 |
33.698 |
33.022 |
Market
/ Territory Data
|
Population living in the province |
: |
843.250 |
|
Population living in the region |
: |
9.393.092 |
|
Number of families in the region |
: |
3.858.736 |
Monthly family expenses 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 32 significant companies.
The companies cash their credits
on an average of 118 dd.
The average duration of
suppliers debts is about 135 dd.
The sector's profitability is on
an average of 2,66%.
The labour cost affects the
turnover in the measure of 17,89%.
Goods are held in stock in a
range of 66 dd.
The difference between the sales
volume and the resources used to realize it is about 0,94.
The employees costs represent
the 15,64% of the production costs.
Statistical
Detrimental Data
Statistically 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 4.597.
The insolvency index for the
region is 0,55, , while for the province it is 0,55.
Total Bankrupt companies in the
province : 3.052.
Total Bankrupt companies in the
region : 39.612.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.28 |
|
UK Pound |
1 |
Rs.102.77 |
|
Euro |
1 |
Rs.82.12 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.