MIRA INFORM REPORT

 

 

Report Date :

12.11.2014

 

IDENTIFICATION DETAILS

 

Name :

SIRETESSILE S.R.L.

 

 

Registered Office :

Via Dell'industria, 75,

31041 – Cornuda (TV) -IT-

 

 

Country :

Italy

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

04.07.1983

 

 

Legal Form :

Sole-Member Limited Liability Company

 

 

Line of Business :
  • Manufacture of textiles
  • Wholesale of textile products

 

 

No of Employees :

From 131 to 150

 

 

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 – June 1, 2014

 

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

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 & ADDRESS

 

SIRETESSILE S.R.L.

 

Via Dell'industria,, 75

 

31041 - Cornuda (TV) -IT-

 

 

Summary

 

Fiscal Code

:

01623580261

Legal Form

:

Sole-Member Limited Liability Company

Start of Activities

:

04/07/1983

Equity

:

Over 2.582.254

Turnover Range

:

50.000.000/75.000.000

Number of Employees

:

From 131 to 150

 

 

Activity

 

MANUFACTURE OF TEXTILES

Wholesale of textile products

 

Legal Data

 

Legal Form : Sole-Member Limited Liability Company

Fiscal Code : 01623580261

 

Foreign Trade Reg. no. : TV010926 since 18/12/1991

 

Chamber of Commerce no. : 159321 of Treviso since 27/06/1983

 

Firms' Register : TV086-16735 of Treviso since 19/02/1996

 

V.A.T. Code : 01623580261

 

Foundation date

: 27/05/1983

Establishment date

: 27/05/1983

Start of Activities

: 04/07/1983

Legal duration

: 31/12/2030

Nominal Capital

: 10.400

 

Subscribed Capital

: 10.400

 

Paid up Capital

: 10.400

 

 

 

Members

 

Baggio

Gianfranco

 

 

Born in San Dona' di Piave

(VE)

on 07/10/1952

- Fiscal Code : BGGGFR52R07H823C

 

 

Residence:

 

Santa Bona Vecchia

, 32/I

- 31100

Treviso

(TV)

- IT -

 

Position

Since

Shares Amount

% Ownership

Director

23/08/2010

 

 

Board Chairman

23/08/2010

 

 

Managing Director

23/08/2010

 

 

 

No Prejudicial events are reported

 

No Protests registered

 

Alba Holding S.r.l.

 

 

 

 

 

:

 

Terraglio

, 49

- 31100

Treviso

(TV)

- IT -

 

Position

Since

Shares Amount

% Ownership

Sole partner

15/05/2008

 

 

 

No Prejudicial events are reported

 

No Protests registered

 

Guidolin

Andrea

 

 

Born in Castelfranco Veneto

(TV)

on 17/06/1967

- Fiscal Code : GDLNDR67H17C111P

 

 

Residence:

 

Largo Asiago

, 37/A

- 31033

Castelfranco Veneto

(TV)

- IT -

 

Position

Since

Shares Amount

% Ownership

Procurator

14/12/2007

 

 

 

No Prejudicial events are reported

 

No Protests registered

 

Zavarise

Enzo

 

 

Born in Cornuda

(TV)

on 20/12/1961

- Fiscal Code : ZVRNZE61T20D030D

 

 

Residence:

 

Monte Sulder

, 18

- 31041

Cornuda

(TV)

- IT -

 

Position

Since

Shares Amount

% Ownership

Procurator

14/02/2007

 

 

 

No Prejudicial events are reported

 

No Protests registered

 

Baggio

Alessandro

 

 

Born in Treviso

(TV)

on 10/04/1974

- Fiscal Code : BGGLSN74D10L407U

 

 

Residence:

 

Cima Mandria

, 13/1

- 31044

Montebelluna

(TV)

- IT -

 

Position

Since

Shares Amount

% Ownership

Procurator

25/10/2001

 

 

Director

23/08/2010

 

 

Managing Director

23/08/2010

 

 

 

No Prejudicial events are reported

 

No Protests registered

 

Dario

Danilo

 

 

Born in Nervesa della Battaglia

(TV)

on 29/04/1956

- Fiscal Code : DRADNL56D29F872O

 

 

Residence:

 

Gen.e.reginato

, 21/1

- 31031

Caerano di San Marco

(TV)

- IT -

 

Position

Since

Shares Amount

% Ownership

Director

23/08/2010

 

 

Managing Director

23/08/2010

 

 

 

No Prejudicial events are reported

 

No Protests registered

 

Baggio

Martina

 

 

Born in Treviso

(TV)

on 25/08/1979

- Fiscal Code : BGGMTN79M65L407E

 

 

Residence:

 

S. Bona Vecchia

, 32/1

- 31100

Treviso

(TV)

- IT -

 

Position

Since

Shares Amount

% Ownership

Procurator

23/09/2010

 

 

 

No Prejudicial events are reported

 

No Protests registered

 

Poles

Claudio

 

 

Born in San Vito Al Tagliamento

(PN)

on 02/11/1954

- Fiscal Code : PLSCLD54S02I403P

 

 

Residence:

 

Monte Grappa

, 12

- 33078

San Vito Al Tagliamento

(PN)

- IT -

 

Position

Since

Shares Amount

% Ownership

Procurator

09/11/2011

 

 

 

No Prejudicial events are reported

 

No Protests registered

 

Alba Holding 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.

 

Baggio

Gianfranco

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

S.I.R.E. - SOCIETA' ITALIANA RESINE ESPANSO

Refrontolo (TV) - IT -

01022490179

Sole Director

Withdrawn

Registered

Alba Holding S.r.l.

Treviso (TV) - IT -

04231260268

Managing Director

Active

Registered

Alba Holding S.r.l.

Treviso (TV) - IT -

04231260268

Director

Active

Registered

Alba Holding S.r.l.

Treviso (TV) - IT -

04231260268

Board Chairman

Active

Registered

BAGGIO GIANFRANCO eamp; PRIAROLLO PIO

Sernaglia della Battaglia (TV) - IT -

00522130269

Partner

Withdrawn

Registered

BAGGIO GIANFRANCO

Treviso (TV) - IT -

BGGGFR52R07H823C

Proprietor

Withdrawn

Registered

B.m. Company Srl In Liquidazione

Montebelluna (TV) - IT -

04395970264

Managing Director

Withdrawn

Registered

B.m. Company Srl In Liquidazione

Montebelluna (TV) - IT -

04395970264

Director

Withdrawn

Registered

B.m. Company Srl In Liquidazione

Montebelluna (TV) - IT -

04395970264

Liquidator

Withdrawn

Registered

Proxima S.r.l.

Conegliano (TV) - IT -

03680810268

Procurator

Active

Registered

 

Baggio

Alessandro

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

Vita Immobiliare S.r.l.

Treviso (TV) - IT -

03650430261

Procurator

Active

Registered

Alba Holding S.r.l.

Treviso (TV) - IT -

04231260268

Director

Active

Registered

Alba Holding S.r.l.

Treviso (TV) - IT -

04231260268

Managing Director

Active

Registered

PROXIMA INDUSTRIE TESSILI DI BAGGIO ALESSANDRO

Cornuda (TV) - IT -

BGGLSN74D10L407U

Proprietor

Withdrawn

Registered

B.m. Company Srl In Liquidazione

Montebelluna (TV) - IT -

04395970264

Managing Director

Withdrawn

Registered

B.m. Company Srl In Liquidazione

Montebelluna (TV) - IT -

04395970264

Director

Withdrawn

Registered

B.m. Company Srl In Liquidazione

Montebelluna (TV) - IT -

04395970264

Liquidator

Active

Registered

Proxima S.r.l.

Conegliano (TV) - IT -

03680810268

Sole Director

Active

Registered

 

Dario

Danilo

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

DARIO DANILO

Caerano di San Marco (TV) - IT -

DRADNL56D29F872O

Proprietor

Withdrawn

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

Alba Holding S.r.l.

Treviso - IT -

04231260268

 

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

Investiment Prosperity S.R.L.

Padova - IT -

03263590287

1.872 .Eur

18,00

 

 

Active

Immobiliare Quarto Srl

Treviso - IT -

04062570264

49.500 .Eur

45,00

 

 

Active

Verde Mare S.r.l.

Caorle - IT -

03728580279

25.000 .Eur

25,00

 

 

Active

 

Firm's location and structure

 

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

 

-

Legal and operative seat

 

since 25/03/1991

 

 

 

 

 

 

Dell'industria,

, 75

- 31041

- Cornuda

(TV)

- IT -

 

 

 

 

Trading Style: SIRETESSILE

 

 

 

 

Total Surface: 200 Sq.mt.

 

 

 

 

PHONE

: 04238301

 

-

Branch

(Store)

since 01/03/1993

 

 

 

 

 

 

Dell'industria

, 51

- 31041

- Cornuda

(TV)

- IT -

 

 

 

 

PHONE

: 04238301

 

-

Branch

(Store)

since 05/10/1993

 

 

 

 

 

 

Padova

, 19/C

- 31041

- Cornuda

(TV)

- IT -

 

 

 

 

Total Surface: 200 Sq.mt.

 

 

 

 

PHONE

: 04238301

 

-

Branch

(Store)

since 15/02/1999

 

 

 

 

 

 

Dell'industria

, 43

- 31041

- Cornuda

(TV)

- IT -

 

 

 

 

PHONE

: 04238301

 

-

Branch

(Store)

since 01/04/2002

 

 

 

 

 

 

Delle Industrie

, 41

- 31041

- Cornuda

(TV)

- IT -

 

-

Branch

(Store)

since 30/06/2003

 

 

 

 

 

 

Dell'industria

, 69/A

- 31041

- Cornuda

(TV)

- IT -

 

-

Branch

(Factory)

since 01/04/2005

 

 

 

 

 

 

Dell'industria

, 67/69

- 31041

- Cornuda

(TV)

- IT -

 

-

Branch

(Store)

since 01/01/2006

 

 

 

 

 

 

Dell'industria

, 41/1

- 31041

- Cornuda

(TV)

- IT -

 

-

Branch

(Store)

since 01/09/2007

 

 

 

 

 

 

Dell'industria

, 5 A/B

- 31041

- Cornuda

(TV)

- IT -

 

-

Branch

(Store)

since 01/09/2007

 

 

 

 

 

 

Dell'industria

, 7 A/B

- 31041

- Cornuda

(TV)

- IT -

 

 

 

 

Employees

: 135

 

Fittings and Equipment for a value of 210.000

Eur

 

Stocks for a value of 11.280.000

Eur

 

Furniture and fittings for a value of 21.000

Eur

 

Vehicles for a value of 52.000

Eur

 

Trade organization: direct or by agents.

Sales are mainly addressed to Northern Italy

 

 

Import comes generally from the following nations:

- Germany

 

- Austria

 

- Holland

 

- France

 

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

04/03/1985

 

COMPANY STYLE MODIFICATIONS:

 

Former Style

New Style

Changement Date

Nuova Sire S.n.c. di Baggio Gianfranco ePriarollo Pio

 

04/03/1985

Nuova Sire S.r.l.

 

26/05/1992

 

EX-MEMBERS / EX-POSITIONS:

 

Soligo

Adriano

 

 

Born in Vedelago

(TV)

on 24/05/1949

- Fiscal Code : SLGDRN49E24L706N

 

 

Residence:

 

Cappuccini,

, 15

- 31030

Castelfranco Veneto

(TV)

- IT -

 

Ex-Postions

Chairman of the Board of Aud.

 

Pasquini

Maria Angela

 

 

Born in Bolzano

(BZ)

on 28/08/1954

- Fiscal Code : PSQMNG54M68A952A

 

 

Residence:

 

Castello D'amore,

, 27

- 31100

Treviso

(TV)

- IT -

 

Ex-Postions

Permanent Auditor

 

Di Santo

Nicola

 

 

Born in Vedelago

(TV)

on 24/12/1953

- Fiscal Code : DSNNCL53T24L706C

 

 

Residence:

 

U. Saba

, 8

- 31050

Vedelago

(TV)

- IT -

 

Ex-Postions

Temporary Auditor

 

Baggio

Gianfranco

 

 

Born in San Dona' di Piave

(VE)

on 07/10/1952

- Fiscal Code : BGGGFR52R07H823C

 

 

Residence:

 

Santa Bona Vecchia

, 32/I

- 31100

Treviso

(TV)

- IT -

 

Ex-Postions

Sole Director

 

Grespan

Riccardo

 

 

Born in PADOVA

(PD)

on 07/09/1963

- Fiscal Code : GRSRCR63P07G224N

 

 

Residence:

 

A. ALEARDI

, 64

- 30100

Venezia

(VE)

- IT -

Ex-Postions

Permanent Auditor

 

Callegari

Marco

 

 

Born in Padova

(PD)

on 20/06/1965

- Fiscal Code : CLLMRC65H20G224A

 

 

Residence:

 

Berchet

, 3

- 35100

Padova

(PD)

- IT -

 

Ex-Postions

Temporary Auditor

 

Cavaliere

Diego

 

 

Born in Padova

(PD)

on 26/12/1970

- Fiscal Code : CVLDGI70T26G224W

 

 

Residence:

 

Quasimodo

, 22

- 31022

Preganziol

(TV)

- IT -

 

Ex-Postions

Permanent Auditor

 

Bozzolan

Enrico

 

 

Born in Dolo

(VE)

on 30/09/1971

- Fiscal Code : BZZNRC71P30D325R

 

 

Residence:

 

Mar Tirreno

, 11/8

- 30034

Mira

(VE)

- IT -

 

Ex-Postions

Temporary Auditor

 

Alba Holding S.r.l.

 

 

- Fiscal Code : 04231260268

 

Ex-Postions

Partner

 

 

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 1983.

The eonomic-financial analysis is based on the latest 3 b/s.

Under an economic point of view, profits were registered during the last years with a r.o.e. of 14,79% in 2013 and during the last financial year an increase in sales volume was registered (+13,55% in 2013).

The operating result in 2013 was positive (8,89%) and in line with the sector's average.

The operating result is positive and amounts to Eur. 5.678.243 with a 64,39% growth.

The gross operating margin of the latest financial year is of Eur. 6.558.494 showing an upward trend if compared to 2012.

The analysis shows a fair financial position as the indebtedness volume is acceptable (1,06) yet on the increase as against the previous accounting period.

It's shareholders funds amount to Eur. 25.272.562 , unchanged if compared to 2012.

During the last financial year total debts volume reached Eur. 33.597.530 (Eur. 1.403.000 were m/l term ones) with no important change.

The company does not exceed in bank borrowings; the recourse to suppliers' credit is also limited which is also lower than the sector average.

Payments are supported by good current assets.

Trade credits are collected slowly, average term is 167,17 days. also in relation to the average of the sector.

During financial year 2013 the cash flow amounted to Eur. 4.055.980

Labour cost amounts to Eur. 5.089.971, with a 7,43% incidence on production costs. and a 6,88% incidence on sales volumes.

The financial management has a limited economic impact, equal to -0,25% on the sales.

 

 

Financial Data

 

 

Complete balance-sheet for the year

al 31/12/2013

(in Eur

x 1)

 

Item Type

Value

Sales

73.948.378

Profit (Loss) for the period

3.737.849

 

 

Complete balance-sheet for the year

al 31/12/2012

(in Eur

x 1)

 

Item Type

Value

Sales

65.121.893

Profit (Loss) for the period

2.397.137

 

 

Complete balance-sheet for the year

al 31/12/2011

(in Eur

x 1)

 

Item Type

Value

Sales

79.079.976

Profit (Loss) for the period

4.211.861

 

 

Complete balance-sheet for the year

al 31/12/2010

(in Eur

x 1)

 

Item Type

Value

Sales

74.417.811

Profit (Loss) for the period

5.252.907

 

 

Complete balance-sheet for the year

al 31/12/2009

(in Eur

x 1)

 

Item Type

Value

Sales

54.341.013

Profit (Loss) for the period

3.149.616

 

 

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

 

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.

 

 

 

. . Industrial patent rights

35.918

16.205

20.158

. . Concessions,licenses,trademarks,etc.

 

 

 

. . Goodwill

 

 

 

. . Assets in formation and advance paymen.

 

 

 

. . Other intangible fixed assets

67.007

97.629

116.477

. Total Intangible Fixed Assets

102.925

113.834

136.635

. TANGIBLE FIXED ASSETS

 

 

 

. . Real estate

5.820.268

5.896.590

5.974.725

. . Plant and machinery

63.708

93.897

122.345

. . Industrial and commercial equipment

141.667

148.409

207.006

. . Other assets

 

 

 

. . Assets under construction and advances

2.823.715

1.118.629

1.088.989

. Total Tangible fixed assets

8.849.358

7.257.525

7.393.065

. FINANCIAL FIXED ASSETS

 

 

 

. . Equity investments

1.361.136

1.336.135

1.862.735

. . . Equity invest. in subsidiary companies

 

 

 

. . . Equity invest. in associated companies

254.751

229.750

256.350

. . . Equity invest. in holding companies

 

 

 

. . . Equity invest. in other companies

1.106.385

1.106.385

1.606.385

. . Financial receivables

 

730.000

 

. . . . Within 12 months

 

730.000

 

. . . . Beyond 12 months

 

 

 

. . . Receivab due from subsidiaries

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . . Receivables due from assoc.comp.

 

90.000

 

. . . . Within 12 months

 

90.000

 

. . . . Beyond 12 months

 

 

 

. . . Receivables due from holding comp.

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . . Receivables due from third parties

 

640.000

 

. . . . Within 12 months

 

640.000

 

. . . . Beyond 12 months

 

 

 

. . Other securities

 

 

 

. . Own shares

 

 

 

. . . Total nominal value

 

 

 

. Total financial fixed assets

1.361.136

2.066.135

1.862.735

Total fixed assets

10.313.419

9.437.494

9.392.435

CURRENT ASSETS

 

 

 

. INVENTORIES

 

 

 

. . Raw materials and other consumables

7.240.135

5.646.192

6.686.287

. . Work in progress and semimanufactured

 

 

 

. . Work in progress on order

 

 

 

. . Finished goods

3.989.494

4.221.719

3.810.851

. . Advance payments

49.249

109.792

135.906

. Total Inventories

11.278.878

9.977.703

10.633.044

. CREDITS NOT HELD AS FIXED ASSETS

 

 

 

. . Within 12 months

35.859.735

33.692.369

37.709.491

. . Beyond 12 months

995.889

830.352

907.466

. . Trade receivables

34.337.725

31.667.275

36.501.475

. . . . Within 12 months

34.337.725

31.667.275

36.501.475

. . . . Beyond 12 months

 

 

 

. . Receivables due from subsid. comp.

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Receivables due from assoc. comp.

461.250

356.250

56.250

. . . . Within 12 months

260.000

356.250

 

. . . . Beyond 12 months

201.250

 

56.250

. . Receivables due from holding comp.

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Fiscal Receivables

753.455

845.464

604.615

. . . . Within 12 months

753.455

845.464

604.615

. . . . Beyond 12 months

 

 

 

. . Receivables for anticipated taxes

36.127

36.004

49.994

. . . . Within 12 months

36.127

36.004

24.144

. . . . Beyond 12 months

 

 

25.850

. . Receivables due from third parties

1.267.067

1.617.728

1.404.623

. . . . Within 12 months

472.428

787.376

579.257

. . . . Beyond 12 months

794.639

830.352

825.366

. Total Credits not held as fixed assets

36.855.624

34.522.721

38.616.957

. 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

5.329.191

4.411.029

2.863.888

. . Checks

600

700

9.166

. . Banknotes and coins

19.693

16.082

9.690

. Total Liquid funds

5.349.484

4.427.811

2.882.744

Total current assets

53.483.986

48.928.235

52.132.745

ADJUSTMENT ACCOUNTS

 

 

 

. Discount on loans

 

54.026

 

. Other adjustment accounts

49.420

 

69.516

Total adjustments accounts

49.420

54.026

69.516

TOTAL ASSETS

63.846.825

58.419.755

61.594.696

 

 

 

 

LIABILITIES

 

 

 

STOCKHOLDERS' EQUITY

 

 

 

. Capital stock

10.400

10.400

10.400

. Additional paid-in capital

 

 

 

. Revaluation reserves

1.378.664

1.378.664

1.378.664

. Legal reserve

7.477

7.477

7.477

. Reserve for Own shares

 

 

 

. Statute reserves

 

 

 

. Other reserves

20.138.172

20.041.035

18.829.173

. Accumulated Profits (Losses)

 

 

 

. Profit( loss) of the year

3.737.849

2.397.137

4.211.861

. Advances on dividends

 

 

 

. Partial loss of the year Coverage

 

 

 

Total Stockholders'Equity

25.272.562

23.834.713

24.437.575

RESERVES FOR RISKS AND CHARGES

 

 

 

. . Reserve for employee termination indem.

4.057.997

3.516.623

2.989.444

. . Taxation fund, also differed

23.839

32.756

26.685

. . Other funds

 

 

 

Total Reserves for Risks and Charges

4.081.836

3.549.379

3.016.129

Employee termination indemnities

894.888

911.187

944.031

ACCOUNTS PAYABLE

 

 

 

. . . . Within 12 months

32.194.530

28.216.935

30.985.850

. . . . Beyond 12 months

1.403.000

1.903.000

2.200.000

. . 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

15.938.024

15.073.852

16.910.499

. . . . Within 12 months

15.938.024

15.073.852

16.910.499

. . . . Beyond 12 months

 

 

 

. . Due to other providers of finance

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Advances from customers

128.822

59.029

47.704

. . . . Within 12 months

128.822

59.029

47.704

. . . . Beyond 12 months

 

 

 

. . Trade payables

12.917.844

11.182.137

11.931.965

. . . . Within 12 months

12.917.844

11.182.137

11.931.965

. . . . 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

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Due to holding companies

 

 

 

. . . . Within 12 months

 

 

 

. . . . Beyond 12 months

 

 

 

. . Due to the tax authorities

962.410

186.262

396.391

. . . . Within 12 months

962.410

186.262

396.391

. . . . Beyond 12 months

 

 

 

. . Due to social security and welfare inst.

252.928

218.961

214.526

. . . . Within 12 months

252.928

218.961

214.526

. . . . Beyond 12 months

 

 

 

. . Other payables

3.397.502

3.399.694

3.684.765

. . . . Within 12 months

1.994.502

1.496.694

1.484.765

. . . . Beyond 12 months

1.403.000

1.903.000

2.200.000

Total accounts payable

33.597.530

30.119.935

33.185.850

ADJUSTMENT ACCOUNTS

 

 

 

. Agio on loans

 

 

 

. Other adjustment accounts

9

4.541

11.111

Total adjustment accounts

9

4.541

11.111

TOTAL LIABILITIES

63.846.825

58.419.755

61.594.696

 

 

 

 

 

 

 

MEMORANDUM ACCOUNTS

 

Third party goods

 

 

 

Investment accounts

 

 

 

Risk accounts

 

 

 

Civil and fiscal norms relation

 

 

 

 

 

 

 

 

 

 

PROFIT AND LOSS ACCOUNTS

 

VALUE OF PRODUCTION

 

 

 

. Revenues from sales and services

73.948.378

65.121.893

79.079.976

. Changes in work in progress

-36.167

-32.405

47.801

. Changes in semi-manufact. products

 

 

 

. Capitalization of internal work

 

 

 

. Other income and revenues

261.650

391.014

318.092

. . Contributions for operating expenses

 

 

 

. . Different income and revenues

261.650

391.014

318.092

Total value of production

74.173.861

65.480.502

79.445.869

PRODUCTION COSTS

 

 

 

. Raw material,other materials and consum.

51.029.435

43.593.912

51.828.730

. Services received

11.725.179

11.498.343

12.023.297

. Leases and rentals

715.320

739.111

1.005.005

. Payroll and related costs

5.089.971

4.481.836

4.486.227

. . Wages and salaries

3.750.416

3.293.167

3.235.603

. . Social security contributions

1.099.328

963.894

948.558

. . Employee termination indemnities

232.176

217.744

218.204

. . Pension and similar

 

 

 

. . Other costs

8.051

7.031

83.862

. Amortization and depreciation

318.131

323.088

355.064

. . Amortization of intangible fixed assets

51.564

32.336

29.892

. . Amortization of tangible fixed assets

194.313

223.331

236.832

. . Depreciation of tangible fixed assets

 

 

 

. . Writedown of current receiv.and of liquid

72.254

67.421

88.340

. Changes in raw materials

-1.397.885

596.822

2.383.600

. Provisions to risk reserves

562.120

539.116

312.502

. Other provisions

 

 

 

. Other operating costs

453.347

254.157

434.959

Total production costs

68.495.618

62.026.385

72.829.384

Diff. between value and cost of product.

5.678.243

3.454.117

6.616.485

FINANCIAL INCOME AND EXPENSE

 

 

 

. Income from equity investments

 

 

 

. . In subsidiary companies

 

 

 

. . In associated companies

 

 

 

. . In other companies

 

 

 

. Other financial income

122.153

191.825

31.495

. . 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

 

191.825

 

. . . - Subsidiary companies

 

 

 

. . . - Associated companies

 

 

 

. . . - Holding companies

 

 

 

. . . - Other companies

 

191.825

 

. Interest and other financial expense

-304.829

-273.735

-332.669

. . Towards subsidiary companies

 

 

 

. . Towards associated companies

 

 

 

. . Towards holding companies

 

 

 

. . Towards other companies

 

273.735

 

Total financial income and expense

-182.676

-81.910

-301.174

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

225.348

286.227

86.673

. . Gains on disposals

 

 

 

. . Other extraordinary income

225.348

286.227

86.673

. Extraordinary expense

-54.776

-51.889

-69.013

. . Losses on disposals

 

 

 

. . Taxes relating to prior years

 

 

 

. . Other extraordinary expense

-54.776

-51.889

-69.013

Total extraordinary income and expense

170.572

234.338

17.660

Results before income taxes

5.666.139

3.606.545

6.332.971

. Taxes on current income

1.928.290

1.209.408

2.121.110

. . current taxes

1.937.330

1.189.347

2.140.505

. . differed taxes(anticip.)

-9.040

-7.919

-19.395

. Net income for the period

3.737.849

2.397.137

4.211.861

. Adjustments in tax regulations pursuance

 

 

 

. Provisions in tax regulations pursuance

 

 

 

. Profit (loss) of the year

3.737.849

2.397.137

4.211.861

 

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

0,16

0,16

0,15

0,29

Elasticity Ratio

Units

0,84

0,84

0,85

0,70

Availability of stock

Units

0,18

0,17

0,17

0,26

Total Liquidity Ratio

Units

0,66

0,67

0,67

0,39

Quick Ratio

Units

0,08

0,08

0,05

0,01

COMPOSITION ON SOURCE

 

 

 

 

 

Net Short-term indebtedness

Units

1,06

1,00

1,15

1,69

Self Financing Ratio

Units

0,40

0,41

0,40

0,29

Capital protection Ratio

Units

0,85

0,90

0,83

0,71

Liabilities consolidation quotient

Units

0,07

0,10

0,10

0,26

Financing

Units

1,33

1,26

1,36

2,12

Permanent Indebtedness Ratio

Units

0,43

0,46

0,45

0,45

M/L term Debts Ratio

Units

0,04

0,05

0,05

0,13

Net Financial Indebtedness Ratio

Units

0,42

0,45

0,57

0,96

CORRELATION

 

 

 

 

 

Fixed assets ratio

Units

2,67

2,82

2,94

1,38

Current ratio

Units

1,66

1,73

1,68

1,25

Acid Test Ratio-Liquidity Ratio

Units

1,31

1,38

1,34

0,75

Structure's primary quotient

Units

2,45

2,53

2,60

0,90

Treasury's primary quotient

Units

0,17

0,16

0,09

0,03

Rate of indebtedness ( Leverage )

%

252,63

245,10

252,05

339,62

Current Capital ( net )

Value

21.289.456

20.711.300

21.146.895

1.615.606

RETURN

 

 

 

 

 

Return on Sales

%

5,48

4,18

5,78

1,74

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

%

14,79

10,06

17,24

0,25

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

%

22,42

15,13

25,91

2,94

Return on Investment ( R.O.I. )

%

8,89

5,91

10,74

2,31

Return/ Sales

%

7,68

5,30

8,37

2,50

Extra Management revenues/charges incid.

%

65,83

69,40

63,66

8,02

Cash Flow

Value

4.055.980

2.720.225

4.566.925

210.372

Operating Profit

Value

5.678.243

3.454.117

6.616.485

359.192

Gross Operating Margin

Value

6.558.494

4.316.321

7.284.051

692.382

MANAGEMENT

 

 

 

 

 

Credits to clients average term

Days

167,17

175,06

166,17

111,18

Debts to suppliers average term

Days

73,27

72,10

66,23

104,44

Average stock waiting period

Days

54,91

55,16

48,41

86,89

Rate of capital employed return ( Turnover )

Units

1,16

1,11

1,28

1,04

Rate of stock return

Units

6,56

6,53

7,44

4,12

Labour cost incidence

%

6,88

6,88

5,67

15,12

Net financial revenues/ charges incidence

%

-0,25

-0,13

-0,38

-2,07

Labour cost on purchasing expenses

%

7,43

7,23

6,16

14,82

Short-term financing charges

%

0,91

0,91

1,00

3,48

Capital on hand

%

86,34

89,71

77,89

95,83

Sales pro employee

Value

551.853

465.156

670.169

237.592

Labour cost pro employee

Value

37.984

32.013

38.018

33.432

 

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

:

838.732

Population living in the region

:

4.699.950

Number of families in the region

:

1.813.210

 

Monthly family expences average in the region (in Eur..) :

 

- per food products

:

456

- per non food products

:

2.052

- per energy consume

:

127

 

 

Statistical Detrimental Data

 

Statistically the trade activity passes through serious crises.

The area is statistically considered lowly risky.

In the region 13.782 protested subjects are found; in the province they count to 2.280.

The insolvency index for the region is 0,30, , while for the province it is 0,28.

Total Bankrupt companies in the province : 3.317.

Total Bankrupt companies in the region : 16.714.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.55

UK Pound

1

Rs.97.53

Euro

1

Rs.76.48                  

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

SMN

 

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.