MIRA
INFORM REPORT
|
Report Date : |
05.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
CORAM S.R.L. |
|
|
|
|
Registered Office : |
Via Vigone, 53 10061- Cavour
(TO)-IT- |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
16.01.1978 |
|
|
|
|
Legal Form : |
Limited liability company |
|
|
|
|
Line of Business : |
Manufacture of parts and accessories for motor vehicles |
|
|
|
|
No. of Employees |
from 16 to 25 |
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 and Address
CORAM S.R.L.
Via Vigone, 53
10061- Cavour (TO)-IT-
Summary
|
Fiscal Code |
: |
02138210014 |
|
Legal Form |
: |
Limited liability company |
|
start of Activities |
: |
16/01/1978 |
|
Equity |
: |
Over 2.582.254 |
|
Turnover Range |
: |
7.750.000/9.000.000 |
|
Number of Employees |
: |
from 16 to 25 |
|
|
|
n.b.: The Creditworthness Rate shows, in percentage, the ratio between
the suggested credit opinion and the credit amount that the firm could get if
the financial situation would be completely positive. |
Activity
Manufacture of parts and accessories for motor vehicles
Legal Data
Legal Form : Limited liability company
|
Fiscal Code : 02138210014 |
|
Foreign Trade Reg. no. : 33794 of Torino since 14/02/1992 |
|
Foreign Trade Reg. no. : 033794 of Torino since 14/02/1992 |
|
Chamber of Commerce no. : 536672 of Torino since 13/03/1978 |
|
Firms' Register : TO191-1156 of Torino since 19/02/1996 |
|
V.A.T. Code : 02138210014 |
|
Tribunal Co. Register : 1156 of |
|
Foundation date |
: 16/01/1978 |
|
|
Establishment date |
: 16/01/1978 |
|
|
Start of Activities |
: 16/01/1978 |
|
|
Legal duration |
: 31/12/2050 |
|
|
Nominal Capital |
: 100.000 |
|
|
Subscribed Capital |
: 100.000 |
|
|
Paid up Capital |
: 100.000 |
|
Members
|
|
Rosso |
Alessandro |
|
|
|
Born in Cavour |
(TO) |
on 19/10/1943 |
- Fiscal Code : RSSLSN43R19C404G |
|
|
|
Residence: |
|
Massera |
, 114 |
- 10060 |
Prarostino |
(TO) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
15/12/2004 |
|
|
|
Board Chairman |
15/12/2004 |
|
|
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Bruera |
Elda |
|
|
|
Born in Pinerolo |
(TO) |
on 08/09/1947 |
- Fiscal Code : BRRLDE47P48G674W |
|
|
|
Residence: |
|
Vigone |
, 51 |
- 10061 |
Cavour |
(TO) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
15/12/2004 |
|
|
|
Partner |
|
|
|
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
ROSSO ISABELLA |
|
|
|
|
Born |
on 25/02/1970 |
- Fiscal Code : RSSSLL70B65G674O |
|
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.
|
|
Rosso |
Alessandro |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Dagatti Revisioni S.a.s. Di Flavio Dagatti E C. |
Pinerolo (TO) - IT - |
10519370018 |
Limited 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 |
|
Rosso Alessandro |
Prarostino - IT - |
RSSLSN43R19C404G |
40.000 .Eur |
40,00 |
|
Bruera Elda |
Cavour - IT - |
BRRLDE47P48G674W |
30.000 .Eur |
30,00 |
|
ROSSO ISABELLA |
|
RSSSLL70B65G674O |
30.000 .Eur |
30,00 |
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 |
(Factory) |
|
|
|
|
|
|
Vigone |
, 53 |
- 10061 |
- Cavour |
(TO) |
- IT - |
|
|
|
|
PHONE |
: 01216366 |
|
|
|
|
FAX |
: 01216305 |
|
|
|
|
Employees |
: 22 |
|
Fittings and Equipment for a value of 330.000 |
Eur |
|
Stocks for a value of 2.100.000 |
Eur |
|
|
The firm operates abroad as importer / exporter..
Export represents more than 50% of the global turnover.
Products abroad are placed by :
|
- direct orders from foreign companies |
Export is mainly towards:
|
- Italy |
Historical Information and/or Firm's Status
EX-MEMBERS / EX-POSITIONS:
|
|
Rosso |
Alessandro |
|
|
|
Born in Cavour |
(TO) |
on 19/10/1943 |
- Fiscal Code : RSSLSN43R19C404G |
|
|
|
Residence: |
|
Massera |
, 114 |
- 10060 |
Prarostino |
(TO) |
- IT - |
|
Ex-Postions |
|
Sole Director |
Protests
Protests checking on the subject firm has given a negative result.
Data Base Prejudicial Events
Search
Search performed on a National Scale
|
|
|
Prejudicial Events Search Result: NEGATIVE |
Search performed on a specialized data base.
Legal Procedures
None reported, standing to the latest received edition of the Official
Publications.
Financial and Economical Analysis
Subject is active since 1978
The analysis is based on the latest 3 balance sheets.
Under an economic point of view, profits were registered during the last
years with a r.o.e. of 17,43% in 2013 with a stable trend in the turnover.
The operating result in 2013 was positive (23,06%) and even better than
sector's average.
The operating result is positive and amounts to Eur. 1.705.359 , on more
or less the same values as in the year before.
The economic management produced a gross operating margin of Eur.
1.809.946 , stable if compared to the year before.
Indebtedness is scanty since debts are lower than liquidity.
Subject can manage an equity capital funds for an amount of Eur.
6.453.344 , stable in comparison with the value of the previous year.
Eur. 613.439 is the amount of total debts, both commercial and of
different nature, on the same levels as the year before.
The company does not exceed in bank borrowings; the recourse to
suppliers' credit is also limited below field's average.
The management determines a good range of liquidity.
Accounts receivable average term is 89,8 days. , more or less in line
with the average of the sector.
Eur. 1.229.180 is the value of cash flow during the year 2013
During 2013 financial year labour costs amounted to Eur. 763.991, with a
12,09% incidence on production costs. , whereas the incidence on sales revenues
is of 9,43%.
The incidence of the financial charges is of -0,32% on the sales amount.
Financial Data
|
|
|
Complete balance-sheet for the year |
al 31/12/2013 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
8.099.609 |
|
Profit (Loss) for the period |
1.124.593 |
|
|
|
Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
8.528.410 |
|
Profit (Loss) for the period |
1.005.913 |
|
|
|
Complete balance-sheet for the year |
al 31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
8.559.075 |
|
Profit (Loss) for the period |
1.059.803 |
|
|
|
Complete balance-sheet for the year |
al 31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
8.142.828 |
|
Profit (Loss) for the period |
804.801 |
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 |
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
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 |
0,12 |
0,13 |
0,14 |
0,25 |
|
Elasticity Ratio |
Units |
0,88 |
0,87 |
0,86 |
0,74 |
|
Availability of stock |
Units |
0,28 |
0,31 |
0,31 |
0,21 |
|
Total Liquidity Ratio |
Units |
0,60 |
0,56 |
0,54 |
0,47 |
|
Quick Ratio |
Units |
0,32 |
0,23 |
0,18 |
0,01 |
|
COMPOSITION ON SOURCE |
|
|
|
|
|
|
Net Short-term indebtedness |
Units |
n.c. |
n.c. |
0,02 |
1,91 |
|
Self Financing Ratio |
Units |
0,87 |
0,88 |
0,77 |
0,25 |
|
Capital protection Ratio |
Units |
0,81 |
0,82 |
0,80 |
0,72 |
|
Liabilities consolidation quotient |
Units |
0,49 |
0,53 |
0,18 |
0,20 |
|
Financing |
Units |
0,10 |
0,09 |
0,24 |
2,52 |
|
Permanent Indebtedness Ratio |
Units |
0,91 |
0,92 |
0,81 |
0,40 |
|
M/L term Debts Ratio |
Units |
0,04 |
0,04 |
0,03 |
0,11 |
|
Net Financial Indebtedness Ratio |
Units |
0,00 |
n.c. |
n.c. |
0,37 |
|
CORRELATION |
|
|
|
|
|
|
Fixed assets ratio |
Units |
7,93 |
7,07 |
5,70 |
1,40 |
|
Current ratio |
Units |
10,66 |
11,58 |
4,56 |
1,20 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
7,24 |
7,48 |
2,88 |
0,81 |
|
Structure's primary quotient |
Units |
7,58 |
6,77 |
5,46 |
0,88 |
|
Treasury's primary quotient |
Units |
3,85 |
3,06 |
0,93 |
0,03 |
|
Rate of indebtedness ( Leverage ) |
% |
114,62 |
113,55 |
129,13 |
396,60 |
|
Current Capital ( net ) |
Value |
5.923.328 |
5.613.318 |
5.031.056 |
739.298 |
|
RETURN |
|
|
|
|
|
|
Return on Sales |
% |
15,18 |
13,13 |
13,88 |
3,87 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
17,43 |
16,15 |
18,20 |
2,90 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
26,17 |
24,04 |
27,94 |
10,01 |
|
Return on Investment ( R.O.I. ) |
% |
23,06 |
20,64 |
21,59 |
3,63 |
|
Return/ Sales |
% |
21,05 |
17,11 |
18,97 |
3,64 |
|
Extra Management revenues/charges incid. |
% |
65,94 |
68,92 |
65,29 |
27,87 |
|
Cash Flow |
Value |
1.229.180 |
1.119.854 |
1.187.842 |
218.595 |
|
Operating Profit |
Value |
1.705.359 |
1.459.576 |
1.623.317 |
183.990 |
|
Gross Operating Margin |
Value |
1.809.946 |
1.573.517 |
1.751.356 |
453.866 |
|
MANAGEMENT |
|
|
|
|
|
|
Credits to clients average term |
Days |
89,80 |
n.c. |
n.c. |
94,73 |
|
Debts to suppliers average term |
Days |
29,27 |
n.c. |
n.c. |
115,71 |
|
Average stock waiting period |
Days |
93,23 |
91,81 |
99,58 |
57,59 |
|
Rate of capital employed return ( Turnover ) |
Units |
1,10 |
1,21 |
1,14 |
1,07 |
|
Rate of stock return |
Units |
3,86 |
3,92 |
3,62 |
6,09 |
|
Labour cost incidence |
% |
9,43 |
9,03 |
8,73 |
18,09 |
|
Net financial revenues/ charges incidence |
% |
-0,32 |
-0,14 |
-0,03 |
-1,09 |
|
Labour cost on purchasing expenses |
% |
12,09 |
11,20 |
10,15 |
17,83 |
|
Short-term financing charges |
% |
7,30 |
6,34 |
0,81 |
2,64 |
|
Capital on hand |
% |
91,32 |
82,93 |
87,85 |
93,64 |
|
Sales pro employee |
Value |
352.156 |
355.350 |
372.133 |
185.995 |
|
Labour cost pro employee |
Value |
33.217 |
32.095 |
32.471 |
32.632 |
Market / Territory Data
|
Population living in the province |
: |
|
|
Population living in the region |
: |
|
|
Number of families in the region |
: |
|
Monthly family expences average in the region (in Eur..) :
|
- per food products |
: |
429 |
|
- per non food products |
: |
1.789 |
|
- per energy consume |
: |
|
Sector Data
The values are calculated on a base of 258 significant companies.
The companies cash their credits on an average of 95 dd.
The average duration of suppliers debts is about 116 dd.
The sector's profitability is on an average of 3,87%.
The labour cost affects the turnover in the measure of 18,09%.
Goods are held in stock in a range of 58 dd.
The difference between the sales volume and the resources used to
realize it is about 1,07.
The employees costs represent the 17,83% 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 27.019 protested subjects are found; in the province they
count to 16.723.
The insolvency index for the region is 0,63, , while for the province it
is 0,76.
Total Bankrupt companies in the province : 7.726.
Total Bankrupt companies in the region : 14.165.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.54 |
|
UK Pound |
1 |
Rs.99.73 |
|
Euro |
1 |
Rs.79.54 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
SDA |
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.