MIRA INFORM REPORT

 

 

Report Date :

02.05.2014              

 

IDENTIFICATION DETAILS

 

Name :

LOTERIOS S.R.L.

 

 

Registered Office :

Via Monte Grappa, 44   21040 – Gerenzano (VA)

 

 

Country :

Italy

 

 

Financials (as on) :

31.03.2013

 

 

Date of Incorporation :

07.05.2008

 

 

Legal Form :

Sole-Member Limited Liability Company

 

 

Line of Business :

  • Manufacture of general-purpose machinery
  • Wholesale of metals and metalliferous minerals

 

 

No. of Employees

From 51 to 70

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

Payment Behaviour :

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 – 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 and address

 

LOTERIOS S.R.L.

 

 

Via Monte Grappa, 44  21040 – Gerenzano (VA)  -IT-

 

 

Summary

 

Fiscal Code

:

06721320155

Legal Form

:

Sole-Member Limited Liability Company

start of Activities

:

07/05/2008

Equity

:

Over 2.582.254

Turnover Range

:

9.000.000/10.000.000

Number of Employees

:

from 51 to 70

 

 

Activity

 

General mechanics

Manufacture of other general-purpose machinery n.e.c.

Wholesale of metals and metalliferous minerals

 

 

Legal Data

 

Legal Form : Sole-Member Limited Liability Company

Fiscal Code : 06721320155

 

Foreign Trade Reg. no. : MI076105 since 27/12/1991

 

Foreign Trade Reg. no. : VA059199 since 24/06/2008

 

Foreign Trade Reg. no. : 76105 of Milano since 27/12/1991

 

Chamber of Commerce no. : 1117868 of Milano since 26/01/1983

 

Chamber of Commerce no. : 311467 of Varese since 23/05/2008

 

Firms' Register : MI146-219834 of Milano since 19/02/1996

 

V.A.T. Code : 06721320155

 

Tribunal Co. Register : 219834 of since 21/03/1985

 

Foundation date

: 22/11/1982

Establishment date

: 22/11/1982

Start of Activities

: 07/05/2008

Legal duration

: 31/12/2050

Nominal Capital

: 1.290.000

Subscribed Capital

: 1.290.000

Paid up Capital

: 1.290.000

 

 

Members

 

Lotterio

Luigi

 

Born in Legnano

(MI)

on 28/06/1946

- Fiscal Code : LTTLGU46H28E514H

 

Residence:

Monte Grappa

, 44

- 21040

Gerenzano

(VA)

- IT -

 

Position

Since

Shares Amount

% Ownership

Director

25/07/2013

Managing Director

08/08/2013

 

No Prejudicial events are reported

 

No Protests registered

 

Edelstyn

Paul

 

Born in Belfast

( )

on 23/02/1966

- Fiscal Code : DLSPLA66B23Z114K

 

Residence:

Monte Grappa

, 44

- 21040

Gerenzano

(VA)

- IT -

 

Position

Since

Shares Amount

% Ownership

Director

25/07/2013

Board Chairman

25/07/2013

 

No Prejudicial events are reported

 

No Protests registered

 

Hagel

Shawn Rene

 

Born in Alaska

( )

on 25/05/1965

- Fiscal Code : HGLSWN65E65Z404P

 

Residence:

Monte Grappa

, 44

- 21040

Gerenzano

(VA)

- IT -

 

Position

Since

Shares Amount

% Ownership

Director

25/07/2013

Assistant board Chairman

08/08/2013

 

No Prejudicial events are reported

 

No Protests registered

 

Goodwin

Mark

 

Born in Birmingam

( )

on 24/06/1972

- Fiscal Code : GDWMRK72H24Z114W

 

Residence:

Montegrappa

, 44

- 21040

Gerenzano

(VA)

- IT -

 

Position

Since

Shares Amount

% Ownership

Director

09/10/2013

 

Timet Uk Holding Company Ltd

 

 

Position

Since

Shares Amount

% Ownership

Sole partner

18/04/2007

 

No Protests registered

 

Timet Uk Holding Company Ltd

 

 

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.

 

Lotterio

Luigi

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

Lotterio Luigi

Legnano (MI) - IT -

LTTLGU46H28E514H

Proprietor

Withdrawn

Ceased

 

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

Timet Uk Holding Company Ltd

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

Titeco Srl

11362150150

10.226 .Eur

98,99

Active



Firm's location and structure

 

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

 

-

Legal and operative seat

since 01/03/1989

 

Monte Grappa

, 44

- 21040

- Gerenzano

(VA)

- IT -

 

TELEX

: 3352248

 

PHONE

: 0331/464616

 

PHONE

: 033142861

 

FAX

: 0331464610

 

Employees

: 53

 

Agents

: 10

 

Fittings and Equipment for a value of 820.000

Eur

 

Stocks for a value of 28.430.000

Eur

 

Furniture and fittings for a value of 130.000

Eur

 

Vehicles for a value of 110.000

Eur

 

The firm operates abroad as importer / exporter..

To purchase foreign products the firm uses the following channels :

- its own sales net-work

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

Products abroad are placed by :

- its own sales net-work

 

 

Historical Information and/or Firm's Status

 

CHANGES TO THE LEGAL FORM:

 

Former legal form

New legal form

Changement Date

Other forms

Joint stock company

18/01/1985

 

EX-MEMBERS / EX-POSITIONS:

 

Lotterio

Luigi

 

Born in Legnano

(MI)

on 28/06/1946

- Fiscal Code : LTTLGU46H28E514H

 

Residence:

Monte Grappa

, 44

- 21040

Gerenzano

(VA)

- IT -

 

Ex-Postions

Managing Director

Vice-Chairman

Assistant board Chairman

 

Roberts

David Gordon

 

Born in Solihull

( )

on 05/03/1969

- Fiscal Code : RBRDDG69C05Z114G

 

Residence:

40 Broadfern Road

Knowle Solihull West Midlands

- IT -

 

Ex-Postions

Director

 

Timet Uk Holding Company Ltd

 

 

Ex-Postions

Sole partner

 

Entrekin

Charles Henry

 

Born in Pennsylvania

( )

on 08/02/1949

- Fiscal Code : NTRCRL49B08Z404S

 

Residence:

Quasimodo

, 13

- 20025

Legnano

(MI)

- IT -

 

Ex-Postions

Director

Board Chairman

 

Rutigliano

Luigi Pio

 

Born in San Giovanni Rotondo

(FG)

on 19/05/1979

- Fiscal Code : RTGLGP79E19H926D

 

Residence:

Migliara

, 12/1

- 20148

Milano

(MI)

- IT -

 

Ex-Postions

Temporary Auditor

 

Watson

Steven Lee

 

Born in North Dakota

( )

on 20/11/1950

- Fiscal Code : WTSSVN50S20Z404J

 

Residence:

Monte Grappa

, 44

- 21040

Gerenzano

(VA)

- IT -

 

Ex-Postions

Board Chairman

Director

 

O'brien

Bobby Darrell

 

Born in Texas

( )

on 18/05/1957

- Fiscal Code : BRNBBY57E18Z404Y

 

Residence:

Monte Grappa

, 44

- 21040

Gerenzano

(VA)

- IT -

 

Ex-Postions

Director

Assistant board Chairman

 

Timet Uk Holding Company Ltd

 

 

Ex-Postions

Sole partner

 

Barazzetta

Paola

 

Born in Monza

(MB)

on 21/11/1968

- Fiscal Code : BRZPLA68S61F704B

 

Residence:

Monte Rosa

, 91

- 20149

Milano

(MI)

- IT -

 

Ex-Postions

Permanent Auditor

 

Timet Uk Holding Company Ltd

 

 

Ex-Postions

Sole partner

 

Vergani

Rossana

 

Born in Varese

(VA)

on 16/01/1969

- Fiscal Code : VRGRSN69A56L682M

 

Residence:

Migliara

, 12/1

- 20148

Milano

(MI)

- IT -

 

Ex-Postions

Temporary Auditor

 

Cannavale

Ugo

 

Born in Napoli

(NA)

on 25/01/1971

- Fiscal Code : CNNGUO71A25F839A

 

Residence:

Giovanni Migliara

, 12/1

- 20148

Milano

(MI)

- IT -

 

Ex-Postions

Permanent Auditor

 

Manzi

Massimiliano

 

Born in Monza

(MB)

on 26/07/1973

- Fiscal Code : MNZMSM73L26F704G

 

Residence:

VERDI

, 2/5

- 20040

Burago di Molgora

(MB)

- IT -

 

Ex-Postions

Temporary Auditor

 

Dixey

Andrew Roger

 

on 07/02/1950

- Fiscal Code : DXYNRW50B07Z114G

 

Residence:

Quasimodo

, 13

- 20025

Legnano

(MI)

- IT -

 

Ex-Postions

Director

 

Barber

John Henry

 

on 24/05/1951

- Fiscal Code : BRBJNH51E24Z404A

 

Residence:

Quasimodo

, 13

- 20025

Legnano

(MI)

- IT -

 

Ex-Postions

Director

 

Inglis

Bruce Peter

 

Born in Calgary

( )

on 17/04/1953

- Fiscal Code : NGLBCP53D17Z401W

 

Residence:

Quasimodo

, 13

- 20025

Legnano

(MI)

- IT -

 

Ex-Postions

Director

 

Monahan

John Patrick

 

Born in New Jersey

( )

on 31/08/1945

- Fiscal Code : MNHJNP45M31Z404O

 

Residence:

Quasimodo

, 13

- 20025

Legnano

(MI)

- IT -

 

Ex-Postions

Director

Board Chairman

 

Cagnani

Andrea

 

Born in Parma

(PR)

on 30/11/1959

- Fiscal Code : CGNNDR59S30G337J

 

Residence:

Vittor Pisani

, 19

- 20124

Milano

(MI)

- IT -

 

Ex-Postions

Permanent Auditor

 

Colucci

Gianni

 

Born in Milano

(MI)

on 03/01/1960

- Fiscal Code : CLCGNN60A03F205C

 

Residence:

Giovanni Migliara

, 12/1

- 20148

Milano

(MI)

- IT -

 

Ex-Postions

Chairman of the Board of Aud.

 

Ottaviani

Claudio

 

Born in Viganello

( )

on 11/02/1955

- Fiscal Code : TTVCLD55B11Z133C

 

Residence:

Gerolamo Borgazzi

, 4

- 20122

Milano

(MI)

- IT -

 

Ex-Postions

Director

 

Lotterio

Renzo

 

Born in Legnano

(MI)

on 28/07/1940

- Fiscal Code : LTTRNZ40L28E514E

 

Residence:

Monfalcone

, 5

- 19100

La Spezia

(SP)

- IT -

 

Ex-Postions

Director

 

Cappelletti

Amleto

 

Born in Mezzegra

(CO)

on 11/02/1952

- Fiscal Code : CPPMLT52B11F181J

 

Residence:

Quasimodo

, 13

- 20025

Legnano

(MI)

- IT -

 

Ex-Postions

Director

Assistant board Chairman

Managing Director

 

Primavesi

Marta Enrica

 

Born in Milano

(MI)

on 23/04/1974

- Fiscal Code : PRMMTN74D63F205L

 

Residence:

Giovanni Migliara

, 12/A

- 20148

Milano

(MI)

- IT -

 

Ex-Postions

Permanent Auditor

 

Meulepas

Marco Antonio

 

Born in Milano

(MI)

on 25/12/1968

- Fiscal Code : MLPMCN68T25F205H

 

Residence:

Migliara

, 12/1

- 20149

Milano

(MI)

- IT -

 

Ex-Postions

Chairman of the Board of Aud.

 

Elli

Massimo

 

Born in Vimercate

(MB)

on 14/03/1951

- Fiscal Code : LLEMSM51C14M052I

 

Residence:

Isarco

, 8/E

- 20871

Vimercate

(MB)

- IT -

 

Ex-Postions

Temporary Auditor

 

Sala

Alessandro

 

Born in Carnate

(MB)

on 18/06/1951

- Fiscal Code : SLALSN51H18B798B

 

Residence:

Torricelli

, 11

- 20040

Usmate Velate

(MB)

- IT -

 

Ex-Postions

Permanent Auditor

 

Arcelloni

Mariano

 

Born in Piacenza

(PC)

on 10/04/1953

- Fiscal Code : RCLMRN53D10G535D

 

Residence:

Monte Rosa

, 91

- 20148

Milano

(MI)

- IT -

 

Ex-Postions

Temporary Auditor

 

De Vilas

Carlo

 

Born in Trento

(TN)

on 30/09/1954

- Fiscal Code : DVLCRL54P30L378R

 

Residence:

Sempione

, 63

- 20149

Milano

(MI)

- IT -

 

Ex-Postions

Temporary Auditor

 

Lotterio

Pietro

 

Born in Legnano

(MI)

on 24/03/1939

- Fiscal Code : LTTPTR39C24E514M

 

Fiscal residence:

Toscana

, 3

- 20025

Legnano

(MI)

- IT -

 

Ex-Postions

Chairman and 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

 

Company's starting of activities dates back to 2008.

An eco-fin analysis has been made on the base od the b/s fo the years 2011, 2012 and 2013.

Under the financial profile unstable results are noted. with a loss in the last financial year. In the last financial year a drop in sales has been registered (-69,4%).

A loss is registered as to the operating result (-1,71%).

The operating result is negative (Eur. -768.137).

It has been registered a negative gross operating margin value of (Eur. -550.042).

Very good financial situation: shareholder's equity covers short-terms debts with an indebtedness level equal to 0,92 but slighlty increasing.

Subject can manage an equity capital funds for an amount of Eur. 21.708.948 on the same levels as the year before.

Total debts (both short and M/L term) equals Eur. 22.159.005, with a growth equal to 32,66%.

The recourse to financial credit is within the limits; on the other hand the recourse to suppliers' credit is rated as fairly high even in comparison with the sector's.

Liquid assets are good.

As far as the collection of credit goes, the average is high (335,17 days). even if compared to the average of the sector.

A negative cash flow marked the year 2013 totalling Eur. -440.846.

Labour cost amounts to Eur. 923.304, with a 6,69% incidence on production costs. , whereas 9,25% is the incidence on sales revenues.

Financial charges have a limited incidence (-1,01%) on sales volume.



Financial Data

 

Complete balance-sheet for the year

31/03/2013

(in Eur

x 1)

 

Item Type

Value

Sales

9.985.795

Profit (Loss) for the period

-658.941

 

Complete balance-sheet for the year

31/12/2012

(in Eur

x 1)

 

Item Type

Value

Sales

32.641.241

Profit (Loss) for the period

59.996

 

Complete balance-sheet for the year

31/12/2011

(in Eur

x 1)

 

Item Type

Value

Sales

25.862.000

Profit (Loss) for the period

303.095

 

Complete balance-sheet for the year

31/12/2010

(in Eur

x 1)

 

Item Type

Value

Sales

17.919.409

Profit (Loss) for the period

-1.986.360

 

Complete balance-sheet for the year

31/12/2009

(in Eur

x 1)

 

Item Type

Value

Sales

22.938.139

Profit (Loss) for the period

-976.872



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 31/03/2013 - 12 Mesi - Currency: - Amounts x 1

 

- 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

 

Years

2013

2012

2011

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.

3.611

4.028

. . Industrial patent rights

10.354

15.016

51.119

. . Concessions,licenses,trademarks,etc.

23.634

26.597

32.884

. . Goodwill

. . Assets in formation and advance paymen.

. . Other intangible fixed assets

680.503

693.239

766.079

. Total Intangible Fixed Assets

718.102

738.880

850.082

. TANGIBLE FIXED ASSETS

. . Real estate

. . Plant and machinery

794.500

909.751

1.249.189

. . Industrial and commercial equipment

30.020

31.245

29.969

. . Other assets

117.482

113.394

. . Assets under construction and advances

22.233

143.509

. Total Tangible fixed assets

942.002

1.076.623

1.422.667

. FINANCIAL FIXED ASSETS

. . Equity investments

16

16

16

. . . Equity invest. in subsidiary companies

. . . Equity invest. in associated companies

. . . Equity invest. in holding companies

. . . Equity invest. in other companies

16

16

16

. . 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

16

16

16

Total fixed assets

1.660.120

1.815.519

2.272.765

CURRENT ASSETS

. INVENTORIES

. . Raw materials and other consumables

2.126.559

2.444.895

1.986.009

. . Work in progress and semimanufactured

24.981.921

22.422.965

9.049.219

. . Work in progress on order

. . Finished goods

1.316.548

1.229.476

3.689.698

. . Advance payments

. Total Inventories

28.425.028

26.097.336

14.724.926

. CREDITS NOT HELD AS FIXED ASSETS

. . Within 12 months

12.387.147

9.044.741

9.000.260

. . Beyond 12 months

119.975

122.175

84.943

. . Trade receivables

9.296.939

6.268.362

6.554.721

. . . . Within 12 months

9.296.939

6.268.362

6.554.721

. . . . Beyond 12 months

. . Receivables due from subsid. comp.

. . . . Within 12 months

. . . . Beyond 12 months

. . Receivables due from assoc. comp.

. . . . Within 12 months

. . . . Beyond 12 months

. . Receivables due from holding comp.

170.359

165.587

104.059

. . . . Within 12 months

170.359

165.587

104.059

. . . . Beyond 12 months

. . Fiscal Receivables

1.185.479

1.461.859

800.275

. . . . Within 12 months

1.090.404

1.366.784

742.432

. . . . Beyond 12 months

95.075

95.075

57.843

. . Receivables for anticipated taxes

1.459.044

1.185.431

1.422.357

. . . . Within 12 months

1.459.044

1.185.431

1.422.357

. . . . Beyond 12 months

. . Receivables due from third parties

395.301

85.677

203.791

. . . . Within 12 months

370.401

58.577

176.691

. . . . Beyond 12 months

24.900

27.100

27.100

. Total Credits not held as fixed assets

12.507.122

9.166.916

9.085.203

. 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

2.081.223

2.725.143

7.089.318

. . Checks

. . Banknotes and coins

3.878

5.087

2.648

. Total Liquid funds

2.085.101

2.730.230

7.091.966

Total current assets

43.017.251

37.994.482

30.902.095

ADJUSTMENT ACCOUNTS

. Discount on loans

44.873

. Other adjustment accounts

372.768

388.556

Total adjustments accounts

372.768

388.556

44.873

TOTAL ASSETS

45.050.139

40.198.557

33.219.733

LIABILITIES

STOCKHOLDERS' EQUITY

. Capital stock

1.290.000

1.290.000

1.290.000

. Additional paid-in capital

72.304

72.304

72.304

. Revaluation reserves

. Legal reserve

258.000

258.000

258.000

. Reserve for Own shares

. Statute reserves

. Other reserves

1.412.645

1.412.646

1.412.646

. Accumulated Profits (Losses)

19.334.940

19.274.943

18.971.848

. Profit( loss) of the year

-658.941

59.996

303.095

. Advances on dividends

. Partial loss of the year Coverage

Total Stockholders'Equity

21.708.948

22.367.889

22.307.893

RESERVES FOR RISKS AND CHARGES

. . Reserve for employee termination indem.

. . Taxation fund, also differed

57.909

47.541

52.578

. . Other funds

49.245

49.245

49.245

Total Reserves for Risks and Charges

107.154

96.786

101.823

Employee termination indemnities

1.059.721

1.029.615

914.963

ACCOUNTS PAYABLE

. . . . Within 12 months

22.159.005

16.702.767

9.894.461

. . . . Beyond 12 months

. . Bonds

. . . . Within 12 months

. . . . Beyond 12 months

. . Convertible bonds repayable

. . . . Within 12 months

. . . . Beyond 12 months

. . Due to shareholders for financing

363.856

375.745

. . . . Within 12 months

363.856

375.745

. . . . Beyond 12 months

. . Due to banks

. . . . Within 12 months

. . . . Beyond 12 months

. . Due to other providers of finance

. . . . Within 12 months

. . . . Beyond 12 months

. . Advances from customers

3.843.703

4.796.790

596.097

. . . . Within 12 months

3.843.703

4.796.790

596.097

. . . . Beyond 12 months

. . Trade payables

9.028.404

8.003.987

5.141.888

. . . . Within 12 months

9.028.404

8.003.987

5.141.888

. . . . 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

3.838.067

2.547.396

. . . . Within 12 months

3.838.067

2.547.396

. . . . Beyond 12 months

. . Due to holding companies

3.617.809

. . . . Within 12 months

3.617.809

. . . . Beyond 12 months

. . Due to the tax authorities

250.179

348.887

71.113

. . . . Within 12 months

250.179

348.887

71.113

. . . . Beyond 12 months

. . Due to social security and welfare inst.

154.383

219.643

179.204

. . . . Within 12 months

154.383

219.643

179.204

. . . . Beyond 12 months

. . Other payables

4.680.413

410.319

288.350

. . . . Within 12 months

4.680.413

410.319

288.350

. . . . Beyond 12 months

Total accounts payable

22.159.005

16.702.767

9.894.461

ADJUSTMENT ACCOUNTS

. Agio on loans

. Other adjustment accounts

15.311

1.500

593

Total adjustment accounts

15.311

1.500

593

TOTAL LIABILITIES

45.050.139

40.198.557

33.219.733

 

MEMORANDUM ACCOUNTS

 

Third party goods

Investment accounts

Risk accounts

2.353.743

Civil and fiscal norms relation

 

PROFIT AND LOSS ACCOUNTS

 

VALUE OF PRODUCTION

. Revenues from sales and services

9.985.795

32.641.241

25.862.000

. Changes in work in progress

3.036.105

11.874.884

4.946.184

. Changes in semi-manufact. products

. Capitalization of internal work

. Other income and revenues

5.720

167.738

25.961

. . Contributions for operating expenses

. . Different income and revenues

5.720

167.738

25.961

Total value of production

13.027.620

44.683.863

30.834.145

PRODUCTION COSTS

. Raw material,other materials and consum.

8.893.275

28.164.548

18.338.305

. Services received

2.856.236

10.273.732

6.426.533

. Leases and rentals

168.493

644.849

614.132

. Payroll and related costs

923.304

3.260.172

2.805.589

. . Wages and salaries

674.482

2.348.420

1.996.033

. . Social security contributions

218.717

781.505

686.981

. . Employee termination indemnities

30.105

130.247

122.575

. . Pension and similar

. . Other costs

. Amortization and depreciation

218.095

786.213

742.745

. . Amortization of intangible fixed assets

26.317

121.433

135.066

. . Amortization of tangible fixed assets

141.657

565.112

573.141

. . Depreciation of tangible fixed assets

. . Writedown of current receiv.and of liquid

50.121

99.668

34.538

. Changes in raw materials

708.413

502.475

2.165.296

. Provisions to risk reserves

10.000

. Other provisions

. Other operating costs

27.941

98.082

71.797

Total production costs

13.795.757

43.730.071

31.174.397

Diff. between value and cost of product.

-768.137

953.792

-340.252

FINANCIAL INCOME AND EXPENSE

. Income from equity investments

. . In subsidiary companies

. . In associated companies

. . In other companies

. Other financial income

249

12.962

6.299

. . 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

6.299

. . . - Subsidiary companies

. . . - Associated companies

. . . - Holding companies

. . . - Other companies

6.299

. Interest and other financial expense

-100.723

59.130

148.359

. . Towards subsidiary companies

. . Towards associated companies

. . Towards holding companies

. . Towards other companies

-148.359

Total financial income and expense

-100.474

72.092

154.658

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

33.952

107.358

2

. . Gains on disposals

. . Other extraordinary income

33.952

107.358

2

. Extraordinary expense

-63.825

-658.731

. . Losses on disposals

. . Taxes relating to prior years

. . Other extraordinary expense

-63.825

-658.731

Total extraordinary income and expense

-29.873

-551.373

2

Results before income taxes

-898.484

474.511

-185.592

. Taxes on current income

-239.543

414.515

-488.687

. . current taxes

23.702

183.558

49.393

. . differed taxes(anticip.)

-263.245

230.957

-538.080

. Net income for the period

-658.941

59.996

303.095

. Adjustments in tax regulations pursuance

. Provisions in tax regulations pursuance

. Profit (loss) of the year

-658.941

59.996

303.095

 

RATIOS

Value Type

as at 31/03/2013

as at 31/12/2012

as at 31/12/2011

Sector Average

COMPOSITION ON INVESTMENT

Rigidity Ratio

Units

0,04

0,05

0,07

0,24

Elasticity Ratio

Units

0,95

0,95

0,93

0,73

Availability of stock

Units

0,63

0,65

0,44

0,13

Total Liquidity Ratio

Units

0,32

0,30

0,49

0,54

Quick Ratio

Units

0,05

0,07

0,21

0,03

COMPOSITION ON SOURCE

Net Short-term indebtedness

Units

0,92

0,62

0,13

3,02

Self Financing Ratio

Units

0,48

0,56

0,67

0,19

Capital protection Ratio

Units

0,97

0,94

0,93

0,67

Liabilities consolidation quotient

Units

0,05

0,06

0,09

0,21

Financing

Units

1,02

0,75

0,44

3,82

Permanent Indebtedness Ratio

Units

0,51

0,58

0,70

0,37

M/L term Debts Ratio

Units

0,02

0,03

0,03

0,12

Net Financial Indebtedness Ratio

Units

0,00

0,00

0,00

0,54

CORRELATION

Fixed assets ratio

Units

13,72

12,89

10,22

1,36

Current ratio

Units

1,94

2,27

3,12

1,15

Acid Test Ratio-Liquidity Ratio

Units

0,66

0,71

1,63

0,90

Structure's primary quotient

Units

13,08

12,32

9,82

0,80

Treasury's primary quotient

Units

0,09

0,16

0,72

0,05

Rate of indebtedness ( Leverage )

%

207,52

179,72

148,91

522,79

Current Capital ( net )

Value

20.858.246

21.291.715

21.007.634

137.035

RETURN

Return on Sales

%

-4,41

2,59

4,04

4,19

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

%

-3,04

0,27

1,36

6,82

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

%

-4,14

2,12

-0,83

21,82

Return on Investment ( R.O.I. )

%

-1,71

2,37

-1,02

5,32

Return/ Sales

%

-7,69

2,92

-1,32

4,80

Extra Management revenues/charges incid.

%

n.c.

6,29

n.c.

24,34

Cash Flow

Value

-440.846

846.209

1.045.840

122.584

Operating Profit

Value

-768.137

953.792

-340.252

134.039

Gross Operating Margin

Value

-550.042

1.740.005

412.493

232.049

MANAGEMENT

Credits to clients average term

Days

335,17

69,13

91,24

113,47

Debts to suppliers average term

Days

388,65

97,19

124,26

128,87

Average stock waiting period

Days

1024,76

287,83

204,97

41,22

Rate of capital employed return ( Turnover )

Units

0,22

0,81

0,78

1,15

Rate of stock return

Units

0,35

1,25

1,76

8,63

Labour cost incidence

%

9,25

9,99

10,85

23,26

Net financial revenues/ charges incidence

%

-1,01

0,22

0,60

-1,36

Labour cost on purchasing expenses

%

6,69

7,46

9,00

23,52

Short-term financing charges

%

0,45

n.c.

n.c.

2,74

Capital on hand

%

451,14

123,15

128,45

87,13

Sales pro employee

Value

199.715

627.716

297.264

150.278

Labour cost pro employee

Value

18.466

62.695

32.248

33.017

 

 

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

:

843.250

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 3.083 significant companies.

 

The companies cash their credits on an average of 113 dd.

The average duration of suppliers debts is about 129 dd.

The sector's profitability is on an average of 4,19%.

The labour cost affects the turnover in the measure of 23,26%.

Goods are held in stock in a range of 41 dd.

The difference between the sales volume and the resources used to realize it is about 1,15.

The employees costs represent the 23,52% 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 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.60.34

UK Pound

1

Rs.101.45

Euro

1

Rs.83.31

 

INFORMATION DETAILS

 

Analysis Done by :

RAS

 

 

Report Prepared by :

NIS

 

               

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.