MIRA
INFORM REPORT
|
Report Date : |
31.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
MORIAN S.R.L. |
|
|
|
|
Registered Office : |
Via Codebelli, 2 Vallalta, 41030 -
Concordia Sulla Secchia (Mo) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
03.01.1989 |
|
|
|
|
Legal Form : |
Sole-Member Limited Liability Company |
|
|
|
|
Line of Business : |
· Wholesaler of textiles Wholesaler
of haberdashery, threads, yarns and braiding |
|
|
|
|
No of Employees : |
From 6 To 10 Employees |
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 |
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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 |
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
Morian S.r.l.
Via Codebelli, 2
VALLALTA
41030 - Concordia sulla Secchia (MO) -IT-
Summary
|
Fiscal Code |
: |
01877820363 |
|
Legal Form |
: |
Sole-Member Limited Liability Company |
|
start of Activities |
: |
26/09/1989 |
|
Equity |
: |
1.500.000 |
|
Turnover Range |
: |
6.500.000/7.750.000 |
|
Number of Employees |
: |
From 6 To 10 |
Activity
· Wholesaler of textiles
Wholesaler
of haberdashery, threads, yarns and braiding
Legal Data
Legal Form : Sole-Member Limited
Liability Company
|
Fiscal Code : 01877820363 |
|
Foreign Trade Reg. no. : MO009231 since
08/01/1992 |
|
Foreign Trade Reg. no. : 508226 of Modena |
|
Chamber of Commerce no. : 248973 of Modena
since 24/01/1989 |
|
V.A.T. Code : 01877820363 |
|
Tribunal Co. Register : 30023 of since
20/01/1989 |
|
Foundation date |
: 03/01/1989 |
|
|
Establishment date |
: 03/01/1989 |
|
|
Start of Activities |
: 26/09/1989 |
|
|
Legal duration |
: 31/12/2030 |
|
|
Nominal Capital |
: 46.800 |
|
|
Subscribed Capital |
: 46.800 |
|
|
Paid up Capital |
: 46.800 |
|
Members
|
|
Morselli |
Roberto |
|
|
|
Born in Concordia sulla Secchia |
(MO) |
on 01/04/1965 |
- Fiscal Code : MRSRRT65D01C951Q |
|
|
|
Residence: |
|
Codebelli |
, 2 |
- 41033 |
Concordia sulla Secchia |
(MO) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Sole Director |
26/02/1997 |
|
|
|
Sole partner |
19/12/2005 |
|
|
|
|
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.
|
|
Morselli |
Roberto |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Tre Emme Snc Di Morselli Roberto E C. |
Mirandola (MO) - IT - |
03444640365 |
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 |
|
Morselli Roberto |
Concordia sulla Secchia - IT - |
MRSRRT65D01C951Q |
|
100,00 |
Direct Participations
The Company under review has no
participations in other Companies.
Firm's location and structure
In order to carry out its
activities the firm uses the following locations:
|
- |
Legal and
operative seat |
|
since 26/09/1989 |
|
|
|
|
|
|
Codebelli |
, 2 |
- 41033 |
- Concordia sulla Secchia |
(MO) |
- IT - |
|
|
|
|
Total Surface: 120 Sq.mt. |
|
|
|
|
PHONE |
: 053540510 |
|
- |
Branch |
(Store) |
since 26/09/1989 |
|
|
|
|
|
|
Grandi 8 Ang. Via Gelati 49 |
- 41033 |
- Concordia sulla Secchia |
(MO) |
- IT - |
|
- |
Branch |
(Store) |
since 01/02/1999 |
|
|
|
|
|
|
Grandi |
, 15 |
- 41033 |
- Concordia sulla Secchia |
(MO) |
- IT - |
|
- |
Branch |
(Store) |
since 01/07/2008 |
|
|
|
|
|
|
G. Di Vittorio |
, 7 |
- 41033 |
- Concordia sulla Secchia |
(MO) |
- IT - |
|
- |
Branch |
(Store) |
since 01/10/2011 |
|
|
|
|
|
|
Per Mirandola |
, 32 |
- 41033 |
- Concordia sulla Secchia |
(MO) |
- IT - |
|
|
|
|
Employees |
: 8 |
|
|
|
|
Assistants |
: 1 |
|
Fittings and Equipment for a value of
98.000 |
Eur |
|
Stocks for a value of 1.030.000 |
Eur |
|
|
The firm operates abroad as
importer / exporter..
To purchase foreign products the
firm uses the following channels :
|
- direct orders to foreign companies |
Export represents up to 20% of
the global turnover.
Products abroad are placed by :
|
- direct orders from foreign companies |
Import comes generally from the
following nations:
|
- Austria |
|
- Cyprus |
Export is mainly towards:
|
- Austria |
|
- Cyprus |
Historical Information and/or Firm's Status
CHANGES
TO THE LEGAL FORM:
|
Former legal form |
New legal form |
Changement Date |
|
General partnership |
Limited liability company |
26/09/1989 |
EX-MEMBERS
/ EX-POSITIONS:
|
|
Ianniciello |
Saverio |
|
|
|
Born in Grottaminarda |
(AV) |
on 14/10/1944 |
- Fiscal Code : NNCSVR44R14E206I |
|
|
|
Residence: |
|
Codebelli |
, 2 |
- 41033 |
Concordia sulla Secchia |
(MO) |
- IT - |
|
Ex-Postions |
|
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 1989.
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. 6,6% on 2013)
The operating result was
positive in the last financial year (4,67%) and reflects the field's average.
The amount of the operating
result is equal to Eur. 220.387 showing a fall as opposed to the previous year
(-23,24%).
A gross operating margine for a
value of Eur. 276.662 was reached. with no sensible increase as against 2012.
The analysis shows a fair
financial position as the indebtedness volume is acceptable (2,76) and
decreasing as against 2012.
It's shareholders funds amount
to Eur. 1.024.584 , stable in comparison with the value of the previous year.
In the year 2013 total debts
amounted to Eur. 3.589.096 , with no sensible variation.
The exposure towards banks is
slightly high, the recourse to suppliers' credit is limited below the sector's
average.
The liquidity level is positive
(1,56).
Trade credits are collected
slowly, average term is 164,96 days. besides being higher than the sector's
average.
Eur. 123.917 is the value of
cash flow during the year 2013
Labour cost expenses amount to
Eur. 201.152 , representing 2,97% on the total of production costs. and a 2,88%
incidence on sales volumes.
The financial management has a
limited economic impact, equal to -1,19% on the sales.
Financial Data
|
|
|
Complete balance-sheet for the year |
al 31/12/2013 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
6.977.109 |
|
Profit (Loss) for the period |
67.642 |
|
|
|
Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
7.607.592 |
|
Profit (Loss) for the period |
60.885 |
|
|
|
Complete balance-sheet for the year |
al 31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
8.267.290 |
|
Profit (Loss) for the period |
73.777 |
|
|
|
Complete balance-sheet for the year |
al 31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
6.638.722 |
|
Profit (Loss) for the period |
5.390 |
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 31/12/2013 - 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 |
|
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|
RATIOS |
Value
Type |
as at 31/12/2013 |
as at 31/12/2012 |
as at 31/12/2011 |
Sector Average |
|
COMPOSITION ON
INVESTMENT |
|
|
|
|
|
|
Rigidity Ratio |
Units |
0,07 |
0,06 |
0,07 |
0,09 |
|
Elasticity Ratio |
Units |
0,93 |
0,94 |
0,93 |
0,89 |
|
Availability of stock |
Units |
0,22 |
0,19 |
0,19 |
0,26 |
|
Total Liquidity Ratio |
Units |
0,72 |
0,75 |
0,74 |
0,54 |
|
Quick Ratio |
Units |
0,00 |
n.c. |
0,00 |
0,03 |
|
COMPOSITION ON
SOURCE |
|
|
|
|
|
|
Net Short-term indebtedness |
Units |
2,76 |
3,09 |
3,63 |
3,95 |
|
Self Financing Ratio |
Units |
0,22 |
0,18 |
0,18 |
0,17 |
|
Capital protection Ratio |
Units |
0,89 |
0,89 |
0,87 |
0,62 |
|
Liabilities consolidation quotient |
Units |
0,29 |
0,44 |
0,28 |
0,10 |
|
Financing |
Units |
3,50 |
4,40 |
4,60 |
4,85 |
|
Permanent Indebtedness Ratio |
Units |
0,39 |
0,43 |
0,36 |
0,29 |
|
M/L term Debts Ratio |
Units |
0,18 |
0,25 |
0,18 |
0,07 |
|
Net Financial Indebtedness Ratio |
Units |
2,83 |
3,27 |
3,33 |
1,04 |
|
CORRELATION |
|
|
|
|
|
|
Fixed assets ratio |
Units |
5,90 |
6,77 |
5,07 |
2,37 |
|
Current ratio |
Units |
1,56 |
1,66 |
1,45 |
1,18 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
1,19 |
1,33 |
1,16 |
0,80 |
|
Structure's primary quotient |
Units |
3,26 |
2,86 |
2,50 |
1,48 |
|
Treasury's primary quotient |
Units |
0,00 |
n.c. |
0,00 |
0,04 |
|
Rate of indebtedness ( Leverage ) |
% |
460,36 |
547,78 |
565,90 |
602,26 |
|
Current Capital ( net ) |
Value |
1.573.845 |
1.949.854 |
1.453.957 |
191.984 |
|
RETURN |
|
|
|
|
|
|
Return on Sales |
% |
1,78 |
1,55 |
1,55 |
2,03 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
6,60 |
6,36 |
8,23 |
6,31 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
12,55 |
13,60 |
14,89 |
17,00 |
|
Return on Investment ( R.O.I. ) |
% |
4,67 |
5,48 |
4,33 |
4,18 |
|
Return/ Sales |
% |
3,16 |
3,77 |
2,65 |
3,46 |
|
Extra Management revenues/charges incid. |
% |
30,69 |
21,21 |
33,64 |
27,96 |
|
Cash Flow |
Value |
123.917 |
117.589 |
128.039 |
44.823 |
|
Operating Profit |
Value |
220.387 |
287.112 |
219.315 |
74.603 |
|
Gross Operating Margin |
Value |
276.662 |
343.816 |
273.577 |
111.383 |
|
MANAGEMENT |
|
|
|
|
|
|
Credits to clients average term |
Days |
164,96 |
180,65 |
154,87 |
113,70 |
|
Debts to suppliers average term |
Days |
30,36 |
41,27 |
46,66 |
118,14 |
|
Average stock waiting period |
Days |
53,12 |
45,94 |
40,87 |
72,90 |
|
Rate of capital employed return ( Turnover
) |
Units |
1,48 |
1,45 |
1,63 |
1,25 |
|
Rate of stock return |
Units |
6,78 |
7,84 |
8,81 |
4,88 |
|
Labour cost incidence |
% |
2,88 |
2,25 |
1,81 |
8,14 |
|
Net financial revenues/ charges incidence |
% |
-1,19 |
-1,82 |
-0,82 |
-1,38 |
|
Labour cost on purchasing expenses |
% |
2,97 |
2,33 |
1,85 |
8,25 |
|
Short-term financing charges |
% |
2,31 |
3,30 |
1,64 |
2,76 |
|
Capital on hand |
% |
67,60 |
68,90 |
61,34 |
79,85 |
|
Sales pro employee |
Value |
1.162.851 |
1.521.518 |
2.066.822 |
397.742 |
|
Labour cost pro employee |
Value |
33.525 |
34.252 |
37.324 |
33.267 |
Market / Territory Data
|
Population living in the province |
: |
659.925 |
|
Population living in the region |
: |
4.151.369 |
|
Number of families in the region |
: |
1.748.359 |
Monthly family expenses average
in the region (in Eur..) :
|
- per food products |
: |
425 |
|
- per non food products |
: |
2.063 |
|
- per energy consume |
: |
143 |
Sector Data
The values are calculated on a
base of 9.175 significant companies.
The companies cash their credits
on an average of 114 dd.
The average duration of
suppliers debts is about 118 dd.
The sector's profitability is on
an average of 2,03%.
The labour cost affects the
turnover in the measure of 8,14%.
Goods are held in stock in a
range of 73 dd.
The difference between the sales
volume and the resources used to realize it is about 1,25.
The employees costs represent
the 8,25% of the production costs.
Statistical Detrimental Data
Statistically the trade activity
passes through serious crises.
The area is statistically
considered lowly risky.
In the region 18.860 protested
subjects are found; in the province they count to 3.557.
The insolvency index for the
region is 0,46, , while for the province it is 0,55.
Total Bankrupt companies in the
province : 2.526.
Total Bankrupt companies in the
region : 14.698.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.03 |
|
UK Pound |
1 |
Rs.98.91 |
|
Euro |
1 |
Rs.80.33 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
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.