|
Report Date : |
31.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
MACCHINE CARU' S.R.L. |
|
|
|
|
Registered Office : |
Via Magenta, 43 21052 – Busto Arsizio (VA) – IT - |
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Country : |
Italy |
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|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
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Date of Incorporation : |
28.09.2005 |
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|
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|
Legal Form : |
Limited liability company |
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|
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Line of Business : |
Manufacture of textile machinery, machinery and systems
for auxiliary y treatment of textiles, sewing and weaving machines (including
spare parts and accessories) |
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|
|
|
No. of Employees : |
6 to 10 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
No complaints |
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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 |
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|
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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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 |
|
Macchine Caru' S.r.l. |
|
Via |
Magenta, |
43 |
|
21052 |
- Busto Arsizio |
(VA) |
-IT- |
|
Fiscal Code |
: |
02897530123 |
|
Legal Form |
: |
Limited liability company |
|
start of Activities |
: |
20/10/2005 |
|
Equity |
: |
50.000 |
|
Turnover Range |
: |
500.000/750.000 |
|
Number of Employees |
: |
fom 6 to 10 |
Manufacture of textile machinery, machinery and systems for
auxiliary y treatment of textiles, sewing and weaving machines (including spare
parts and accessories)
Legal Form : Limited liability company
|
Fiscal Code : 02897530123 |
|
Chamber of Commerce no. : 300424 of Varese since
20/10/2005 |
|
V.A.T. Code : 02897530123 |
|
Establishment date |
: 28/09/2005 |
|
|
Start of Activities |
: 20/10/2005 |
|
|
Legal duration |
: 31/12/2050 |
|
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Nominal Capital |
: 40.000 |
|
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Subscribed Capital |
: 40.000 |
|
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Paid up Capital |
: 40.000 |
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|
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Caru' |
Andrea |
|
|
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Born in Gallarate |
(VA) |
on 11/06/1960 |
- Fiscal Code : CRANDR60H11D869M |
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|
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Residence: |
|
Assisi |
, 22 |
- 21013 |
Gallarate |
(VA) |
- IT - |
|
Position |
Since |
Shares
Amount |
%
Ownership |
|
Sole Director |
28/09/2005 |
|
|
|
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No Prejudicial events are reported |
|
|
No Protests registered |
*checkings have been performed on a national scale.
In this module the companies in which members hold/held
positions are listed.
The Members of the subject firm are not reported to be
Members in other companies.
Shareholders' list as at date of data collection:
|
Firm's Style / Name |
Seat / Residence |
Fiscal
Code |
Owned
Shares |
%
Ownership |
|
Caru' Andrea |
Gallarate - IT - |
CRANDR60H11D869M |
36.000
.Eur |
90,00 |
|
Viviani Cinzia |
|
VVNCNZ61C45B300P |
4.000
.Eur |
10,00 |
The Company under review has no participations in other
Companies.
In order to carry out its activities the firm uses the
following locations:
|
- |
Legal and operative seat |
|
|
|
|
|
|
|
Magenta |
, 43 |
- 21052 |
- Busto Arsizio |
(VA) |
- IT - |
|
- |
Branch |
(Workshop) |
since 20/10/2005 |
|
|
|
|
|
|
Verona |
, 20 |
- 21010 |
- Cardano Al Campo |
(VA) |
- IT - |
|
|
|
|
Employees |
: 8 |
|
Stocks for a value of 88.000 |
Eur |
Protests checking on the subject firm has given a negative
result.
Search performed on a National Scale
|
|
|
Prejudicial Events Search Result: NEGATIVE |
Search performed on a specialized data base.
None reported, standing to the latest received edition of
the Official Publications.
Subject is active since 2005
The economic-financial analysis has been made on the base of
the b/s of the latests three years.
Under the financial profile unstable results are noted. ; in
the last financial year a loss was registered (r.o.e. -4,86%) Upward trend as
to the turnover in the last financial year (+79,87%).
The operating result in 2012 was positive (3,24%) and
reflects the field's average.
An operating result of Eur. 11.022 has been registered.
rising (+more then 100%) in relation to the previous year.
During the latest financial year the gross operating margin
amounted to Eur. 29.181 , stable if compared to the year before.
Company's financial status is balanced since indebtedness is
not high (1,46) and decreasing as against 2011.
With regard to equity capital, an amount of Eur. 48.273 is
registered. , stable in comparison with the value of the previous year.
Total indebtedness was equal to Eur. 252.333 (Eur. 32.331
was the value of m/l term debts) showing a stable trend as opposed to 2011
(Eur. 301.201).
Available funds are good.
Eur. 15.815 is the value of cash flow during the year 2012
Subordinate employment cost is of Eur. 119.558, i.e. 16,46%
on total production costs. and a 16,22% incidence on sales volumes.
If compared to the sales volume (-1,03%), the impact of the
financial charges is limited.
|
|
|
Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
737.056 |
|
Profit (Loss) for the period |
-2.344 |
|
|
|
Complete balance-sheet for the year |
al 31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
409.750 |
|
Profit (Loss) for the period |
-9.254 |
|
|
|
Complete balance-sheet for the year |
al 31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
650.231 |
|
Profit (Loss) for the period |
5.538 |
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 |
0,11 |
0,10 |
0,21 |
0,18 |
|
Elasticity Ratio |
Units |
0,89 |
0,90 |
0,78 |
0,80 |
|
Availability of stock |
Units |
0,26 |
0,36 |
0,30 |
0,24 |
|
Total Liquidity Ratio |
Units |
0,63 |
0,54 |
0,48 |
0,48 |
|
Quick Ratio |
Units |
0,44 |
0,19 |
0,00 |
0,03 |
|
COMPOSITION
ON SOURCE |
|
|
|
|
|
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Net Short-term indebtedness |
Units |
1,46 |
4,55 |
3,36 |
3,25 |
|
Self Financing Ratio |
Units |
0,14 |
0,11 |
0,17 |
0,19 |
|
Capital protection Ratio |
Units |
0,22 |
0,26 |
0,10 |
0,63 |
|
Liabilities consolidation quotient |
Units |
0,20 |
0,23 |
0,33 |
0,19 |
|
Financing |
Units |
5,23 |
7,28 |
4,17 |
3,80 |
|
Permanent Indebtedness Ratio |
Units |
0,27 |
0,26 |
0,36 |
0,36 |
|
M/L term Debts Ratio |
Units |
0,13 |
0,16 |
0,19 |
0,11 |
|
Net Financial Indebtedness Ratio |
Units |
n.c. |
n.c. |
n.c. |
0,63 |
|
CORRELATION |
|
|
|
|
|
|
Fixed assets ratio |
Units |
2,49 |
2,77 |
1,69 |
1,75 |
|
Current ratio |
Units |
1,37 |
1,33 |
1,36 |
1,21 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
0,97 |
0,80 |
0,84 |
0,81 |
|
Structure's primary quotient |
Units |
1,32 |
1,12 |
0,80 |
1,03 |
|
Treasury's primary quotient |
Units |
0,68 |
0,28 |
0,01 |
0,06 |
|
Rate of indebtedness ( Leverage ) |
% |
704,86 |
936,82 |
587,32 |
516,42 |
|
Current Capital ( net ) |
Value |
81.563 |
87.417 |
61.138 |
422.465 |
|
RETURN |
|
|
|
|
|
|
Return on Sales |
% |
2,15 |
4,33 |
5,72 |
3,35 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
-4,86 |
-22,37 |
10,94 |
5,13 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
8,11 |
-12,29 |
18,44 |
14,77 |
|
Return on Investment ( R.O.I. ) |
% |
3,24 |
0,94 |
5,29 |
4,16 |
|
Return/ Sales |
% |
1,50 |
0,89 |
2,42 |
4,11 |
|
Extra Management revenues/charges incid. |
% |
-21,27 |
-252,98 |
35,23 |
28,57 |
|
Cash Flow |
Value |
15.815 |
17.749 |
37.215 |
122.482 |
|
Operating Profit |
Value |
11.022 |
3.658 |
15.719 |
144.752 |
|
Gross Operating Margin |
Value |
29.181 |
30.661 |
47.396 |
241.990 |
|
MANAGEMENT |
|
|
|
|
|
|
Credits to clients average term |
Days |
n.c. |
n.c. |
n.c. |
111,85 |
|
Debts to suppliers average term |
Days |
n.c. |
n.c. |
n.c. |
128,30 |
|
Average stock waiting period |
Days |
42,94 |
123,43 |
49,27 |
80,43 |
|
Rate of capital employed return ( Turnover ) |
Units |
2,17 |
1,06 |
2,19 |
1,08 |
|
Rate of stock return |
Units |
8,38 |
2,92 |
7,31 |
4,45 |
|
Labour cost incidence |
% |
16,22 |
21,85 |
13,67 |
19,12 |
|
Net financial revenues/ charges incidence |
% |
-1,03 |
-2,12 |
-1,36 |
-1,08 |
|
Labour cost on purchasing expenses |
% |
16,46 |
21,77 |
14,00 |
19,02 |
|
Short-term financing charges |
% |
3,11 |
2,91 |
4,22 |
2,68 |
|
Capital on hand |
% |
46,16 |
94,56 |
45,72 |
91,91 |
|
Sales pro employee |
Value |
245.685 |
204.875 |
325.115 |
198.432 |
|
Labour cost pro employee |
Value |
39.852 |
44.763 |
44.443 |
35.779 |
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.
|
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 |
The values are calculated on a base of 1.206 significant
companies.
The companies cash their credits on an average of 112 dd.
The average duration of suppliers debts is about 128 dd.
The sector's profitability is on an average of 3,35%.
The labour cost affects the turnover in the measure of
19,12%.
Goods are held in stock in a range of 80 dd.
The difference between the sales volume and the resources
used to realize it is about 1,08.
The employees costs represent the 19,02% of the production
costs.
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.59.03 |
|
|
1 |
Rs.98.91 |
|
Euro |
1 |
Rs.80.33 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
PDT |
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.