MIRA INFORM REPORT
|
Report No. : |
316506 |
|
Report Date : |
13.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
LJ PHARMA S.R.L. |
|
|
|
|
Registered Office : |
Zona Industriale, Piano Tavola- Contrada Pantano, O.C. 95032 – Belpasso (CT) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
30.04.2008 |
|
|
|
|
Legal Form : |
Limited liability company |
|
|
|
|
Line of Business : |
Manufacture of medicines and pharmaceutical preparations |
|
|
|
|
No of Employees : |
from 71 to 90 |
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 |
|
Maximum Credit Limit : |
250.000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Italy |
A2 |
A1 |
|
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
|
Lj Pharma S.r.l. |
|
Zona Industriale |
Piano Tavola- Contrada Pantano, |
O.C. |
|
95032 |
- Belpasso |
(CT) |
-IT- |
Summary
|
Fiscal Code |
: |
03772280875 |
|
Legal Form |
: |
Limited liability company |
|
start of Activities |
: |
30/04/2008 |
|
Equity |
: |
Over 2.582.254 |
|
Turnover Range |
: |
10.000.000/12.750.000 |
|
Number of Employees |
: |
from 71 to 90 |
Credit
Analysis
|
Credit Opinion |
: |
250.000 - |
Activity
Manufacture of medicines and pharmaceutical preparations
Legal
Data
Legal Form : Limited liability company
|
Fiscal Code : 03772280875 |
|
Chamber of Commerce no. : 253180 of Catania since 07/11/2000 |
|
Firms' Register : CT-2000-57585 of Catania |
|
V.A.T. Code : 03772280875 |
|
Establishment date |
: 25/07/2000 |
|
|
Start of Activities |
: 30/04/2008 |
|
|
Legal duration |
: 31/12/2050 |
|
|
Nominal Capital |
: 51.000 |
|
|
Subscribed Capital |
: 51.000 |
|
|
Paid up Capital |
: 51.000 |
|
Legal mail : |
LJPHARMA@PEC.LJPHARMA.COM |
Members
|
|
Scaccia |
Fabio |
|
|
Born in Catania |
(CT) |
on 02/03/1967 |
- Fiscal Code : SCCFBA67C02C351S |
|
|
Residence: |
Ionio |
, 35 |
- 95129 |
Catania |
(CT) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Sole Director |
25/07/2000 |
||
|
Sole partner |
19/12/2014 |
|
|
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.
|
|
Scaccia |
Fabio |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Consorzio Catania Ricerche. |
Catania (CT) - IT - |
02420120871 |
Director |
Active |
Registered |
|
Consorzio Catania Ricerche. |
Catania (CT) - IT - |
02420120871 |
Assistant board Chairman |
Active |
Registered |
|
Consorzio Etneo Energia Libera |
Catania (CT) - IT - |
03746810872 |
Vice-Chairman |
Withdrawn |
Registered |
|
Consorzio Etneo Energia Libera |
Catania (CT) - IT - |
03746810872 |
Director |
Withdrawn |
Registered |
|
Farmitalia Industria Chimico Farmaceutica S.r.l. |
Catania (CT) - IT - |
03115090874 |
Sole Director |
Active |
Registered |
|
Farmitalia Industria Chimico Farmaceutica S.r.l. |
Catania (CT) - IT - |
03115090874 |
Sole partner |
Active |
Registered |
|
Scaccia Fabio |
Catania (CT) - IT - |
SCCFBA67C02C351S |
Proprietor |
Withdrawn |
Registered |
|
Cefarm Di Scaccia Giacomo E C. S.a.s. |
Catania (CT) - IT - |
02317310874 |
General Partner |
Withdrawn |
Registered |
|
Linker S.r.l. |
Catania (CT) - IT - |
04764980878 |
Sole Director |
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 |
|
Scaccia Fabio |
Catania - IT - |
SCCFBA67C02C351S |
51.000 .Eur |
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 |
|
Farmanuova S.p.a. |
Palermo - IT - |
05548650828 |
35.590 .Eur |
0,30 |
Active |
Firm's
location and structure
In order to carry out its activities the firm uses the following
locations:
|
- |
Legal and operative seat |
|
Piano Tavola- Contrada Pantano |
, O.C. |
- 95032 |
- Belpasso |
(CT) |
- IT - |
|
Legal mail |
: LJPHARMA@PEC.LJPHARMA.COM |
|
- |
Branch |
(Workshop) |
since 01/09/2014 |
|
Giacomo Leopardi |
, 51 |
- 95037 |
- San Giovanni la Punta |
(CT) |
- IT - |
|
Employees |
: 74 |
|
Fittings and Equipment for a value of 830.000 |
Eur |
|
Stocks for a value of 81.000 |
Eur |
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.
During the last years, it recorded positive net results (r.o.e. 45,39%
in 2013) thanks to a progressive increase in turnover (+25,79% in 2013 compared
to 2012 and +53,82% in 2012 compared to 2011).
The operating result in 2013 was positive (29,39%) and even better than
sector's average.
The operating result is positive and amounts to Eur. 2.222.128
increasing if compared to the yeart 2012.
The gross operating margin of the latest financial year is of Eur.
2.577.146 with a more then 100% increase as opposed to the preceding year.
Very good financial situation: shareholder's equity covers short-terms
debts with an indebtedness level equal to 0,26 and with an upward trend
compared to the previous year.
The management generated equity capital for an amount of Eur. 2.993.913
, increasing by 67,73% if compared to the year before.
Total indebtedness was equal to Eur. 4.358.975 (Eur. 2.033.806 was the
value of m/l term debts) , with no sensible variation.
Bank and suppliers credit recourse is limited, 76,6 gg. is payment
average period below the sector's average.
The management determines a good range of liquidity.
Accounts receivable average term is 76,46 days. , that compared to the
sector's average is shorter.
During financial year 2013 the cash flow amounted to Eur. 1.713.988
Subordinate employment cost is of Eur. 2.969.454, i.e. 31,59% on total
production costs. , with a 25,42% incidence on turnover.
If compared to the sales volume (-0,28%), the impact of the financial
charges is limited.
Financial
Data
|
|
Complete balance-sheet for the year |
al 31/12/2013 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
11.679.756 |
|
Profit (Loss) for the period |
1.358.970 |
|
|
Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
9.285.052 |
|
Profit (Loss) for the period |
698.810 |
|
|
Complete balance-sheet for the year |
al 31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
6.036.041 |
|
Profit (Loss) for the period |
63.223 |
|
|
Complete balance-sheet for the year |
al 31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
4.349.602 |
|
Profit (Loss) for the period |
417.295 |
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
|
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 |
0,45 |
0,43 |
0,47 |
0,34 |
|
Elasticity Ratio |
Units |
0,55 |
0,57 |
0,53 |
0,65 |
|
Availability of stock |
Units |
0,01 |
0,07 |
0,04 |
0,16 |
|
Total Liquidity Ratio |
Units |
0,54 |
0,50 |
0,49 |
0,49 |
|
Quick Ratio |
Units |
0,20 |
0,11 |
0,08 |
0,02 |
|
COMPOSITION ON SOURCE |
|||||
|
Net Short-term indebtedness |
Units |
0,26 |
0,94 |
1,55 |
0,71 |
|
Self Financing Ratio |
Units |
0,40 |
0,32 |
0,22 |
0,36 |
|
Capital protection Ratio |
Units |
0,53 |
0,58 |
0,89 |
0,68 |
|
Liabilities consolidation quotient |
Units |
0,96 |
0,66 |
0,88 |
0,30 |
|
Financing |
Units |
1,46 |
2,09 |
3,51 |
1,54 |
|
Permanent Indebtedness Ratio |
Units |
0,69 |
0,59 |
0,58 |
0,62 |
|
M/L term Debts Ratio |
Units |
0,30 |
0,27 |
0,37 |
0,09 |
|
Net Financial Indebtedness Ratio |
Units |
0,25 |
0,45 |
n.c. |
0,40 |
|
CORRELATION |
|||||
|
Fixed assets ratio |
Units |
1,55 |
1,36 |
1,25 |
1,42 |
|
Current ratio |
Units |
1,80 |
1,37 |
1,28 |
1,36 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
1,77 |
1,21 |
1,17 |
1,08 |
|
Structure's primary quotient |
Units |
0,89 |
0,73 |
0,47 |
1,01 |
|
Treasury's primary quotient |
Units |
0,66 |
0,28 |
0,18 |
0,04 |
|
Rate of indebtedness ( Leverage ) |
% |
252,53 |
315,49 |
456,92 |
273,75 |
|
Current Capital ( net ) |
Value |
1.861.900 |
863.981 |
574.335 |
995.792 |
|
RETURN |
|||||
|
Return on Sales |
% |
14,67 |
8,89 |
2,45 |
6,51 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
45,39 |
39,15 |
5,82 |
4,14 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
73,13 |
61,24 |
23,13 |
14,35 |
|
Return on Investment ( R.O.I. ) |
% |
29,39 |
17,59 |
6,14 |
4,03 |
|
Return/ Sales |
% |
19,03 |
10,67 |
5,05 |
6,07 |
|
Extra Management revenues/charges incid. |
% |
61,16 |
70,54 |
20,76 |
40,39 |
|
Cash Flow |
Value |
1.713.988 |
825.056 |
147.636 |
627.977 |
|
Operating Profit |
Value |
2.222.128 |
990.667 |
304.591 |
399.410 |
|
Gross Operating Margin |
Value |
2.577.146 |
1.116.913 |
389.004 |
880.658 |
|
MANAGEMENT |
|||||
|
Credits to clients average term |
Days |
76,46 |
78,06 |
n.c. |
126,68 |
|
Debts to suppliers average term |
Days |
76,60 |
100,56 |
n.c. |
114,70 |
|
Average stock waiting period |
Days |
2,51 |
15,03 |
13,08 |
63,02 |
|
Rate of capital employed return ( Turnover ) |
Units |
1,54 |
1,65 |
1,22 |
0,81 |
|
Rate of stock return |
Units |
143,49 |
23,95 |
27,53 |
5,71 |
|
Labour cost incidence |
% |
25,42 |
21,06 |
17,96 |
18,60 |
|
Net financial revenues/ charges incidence |
% |
-0,28 |
-0,05 |
-0,88 |
-1,12 |
|
Labour cost on purchasing expenses |
% |
31,59 |
23,11 |
19,08 |
19,40 |
|
Short-term financing charges |
% |
1,05 |
1,33 |
1,46 |
2,82 |
|
Capital on hand |
% |
64,73 |
60,65 |
82,22 |
123,45 |
|
Sales pro employee |
Value |
126.953 |
152.213 |
182.910 |
205.774 |
|
Labour cost pro employee |
Value |
32.276 |
32.059 |
32.841 |
37.114 |
Reliability
Score
Considering also subject's structural and behavioural characteristics its
credit margin rate (from 0 to 100%) is equal to 98%, in respect of a sector
average of 66%.
Credit
Opinion
On the basis of the above mentioned, and the sales volume obtained, we deem
that the maximum exposure for short and medium term transactions ( 90 - 120
days ) could be of:
250.000
Eur.
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 |
: |
|
|
- per non food products |
: |
|
|
- per energy consume |
: |
|
Sector
Data
The values are calculated on a base of 748 significant companies.
The companies cash their credits on an average of 127 dd.
The average duration of suppliers debts is about 115 dd.
The sector's profitability is on an average of 6,51%.
The labour cost affects the turnover in the measure of 18,60%.
Goods are held in stock in a range of 63 dd.
The difference between the sales volume and the resources used to
realize it is about 0,81.
The employees costs represent the 19,40% of the production costs.
Statistical
Detrimental Data
Statistcally the trade activity shows periods of crisis.
The area is statistically considered remarkably risky.
In the region 54.738 protested subjects are found; in the province they
count to 13.788.
The insolvency index for the region is 1,09, , while for the province it
is 1,29.
Total Bankrupt companies in the province : 3.235.
Total Bankrupt companies in the region : 14.491.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 62.36 |
|
|
1 |
Rs. 91.60 |
|
Euro |
1 |
Rs. 66.48 |
INFORMATION DETAILS
|
Analysis Done by
: |
RSM |
|
|
|
|
Report Prepared
by : |
DPT |
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.