MIRA INFORM REPORT

 

 

Report No. :

335317

Report Date :

08.08.2015

 

IDENTIFICATION DETAILS

 

Name :

GRU COMEDIL S.R.L.

 

 

Registered Office :

Via Delle Innovazioni, 17, 33074 Fontanafredda (PN)-IT

 

 

Country :

Italy

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

01.10.1986

 

 

Legal Form :

Sole-Member Limited Liability Company

 

 

Line of Business :
  • Manufacture of lifting and handling equipment
  • Manufacture of cranes, capstans, manual and motor monkey winches, transporter trollies, lifting trucks and revolving platforms

 

 

No. of Employees :

From 131 to 150

 

 

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

 

 

Payment Behaviour :

Slow

 

 

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, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

Italy

A1

A1

 

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 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 132% of GDP in 2014, 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 tax evasion. In 2014 economic growth and labor market conditions continued to deteriorate, with overall unemployment rising to 12.2% and youth unemployment around 40%. Italy's GDP is now nearly 10% below its 2007 pre-crisis level.

 

Source : CIA

 

 

 

 

Company name and address

 

Gru Comedil S.r.l.

Via Delle Innovazioni, 17

33074- Fontanafredda (PN) -IT-

 

 

 

 

Summary

 

Fiscal Code

:

01069260931

Legal Form

:

Sole-Member Limited Liability Company

start of Activities

:

01/10/1986

Equity

:

Over 2.582.254

Turnover Range

:

75.000.000/100.000.000

Number of Employees

:

from 131 to 150

 

 

Activity

 

Manufacture of lifting and handling equipment

Manufacture of cranes, capstans, manual and motor monkey winches, tr

ansporter trollies, lifting trucks and revolving platforms



Legal Data

 

Legal Form : Sole-Member Limited Liability Company

Fiscal Code : 01069260931

 

Foreign Trade Reg. no. : PN000790 since 26/11/1991

 

Foreign Trade Reg. no. : 000790 of Pordenone since 26/11/1991

 

Chamber of Commerce no. : 97934 of Belluno

 

Chamber of Commerce no. : 423824 of Bologna

 

Chamber of Commerce no. : 73863 of Gorizia

 

Chamber of Commerce no. : 1675522 of Milano

 

Chamber of Commerce no. : 41318 of Pordenone since 15/01/1987

 

Chamber of Commerce no. : 216839 of Venezia

 

Firms' Register : PN033-8315 of Pordenone since 19/02/1996

 

V.A.T. Code : 01069260931

 

Foundation date

: 01/10/1986

Establishment date

: 01/10/1986

Start of Activities

: 01/10/1986

Legal duration

: 31/12/2050

Nominal Capital

: 8.416.000

Subscribed Capital

: 8.416.000

Paid up Capital

: 8.416.000

 

Legal mail :

GRUCOMEDIL@LEGALMAIL.IT

 

 

Members

 

Terex Italia S.r.l.

 

 

Residence:

Cassoletta

, 76

- 40053

Valsamoggia

(BO)

- IT -

 

Position

Since

Shares Amount

% Ownership

Partner

 

No Prejudicial events are reported

 

No Protests registered

 

Alba

Riccardo

 

Born in La Spezia

(SP)

on 12/07/1960

- Fiscal Code : LBARCR60L12E463S

 

Residence:

Colvera

, 19

- 33170

Pordenone

(PN)

- IT -

 

Position

Since

Shares Amount

% Ownership

Attorney with special power

02/09/2014

 

No Prejudicial events are reported

 

No Protests registered

 

Gentilini

Marco

 

Born in Imola

(BO)

on 26/01/1959

- Fiscal Code : GNTMRC59A26E289M

 

Residence:

Zoagli

, 14

- 41125

Modena

(MO)

- IT -

 

Position

Since

Shares Amount

% Ownership

Attorney with special power

06/06/2014

 

No Prejudicial events are reported

 

No Protests registered

 

Ford

Timothy Allen

 

Born in Connecticut

( )

on 23/12/1961

- Fiscal Code : FRDTTH61T23Z404D

 

Residence:

Bayberry Road

, 180

Connecticut

- IT -

 

Position

Since

Shares Amount

% Ownership

Sole Director

28/02/2013

 

No Prejudicial events are reported

 

No Protests registered

 

Rossini

Raffaella

 

Born in Pordenone

(PN)

on 01/08/1979

- Fiscal Code : RSSRFL79M41G888X

 

Residence:

Vallona

, 29/3

- 33170

Pordenone

(PN)

- IT -

 

Position

Since

Shares Amount

% Ownership

Attorney with special power

02/09/2014

 

No Prejudicial events are reported

 

No Protests registered

 

Amadio

Roberto

 

Born in Rho

(MI)

on 12/06/1969

- Fiscal Code : MDARRT69H12H264K

 

Residence:

Fadelli

, 1

- 31014

Colle Umberto

(TV)

- IT -

 

Position

Since

Shares Amount

% Ownership

Attorney with special power

15/10/2014

 

No Prejudicial events are reported

 

No Protests registered

 

Targhetta

Silvia

 

Born in Pordenone

(PN)

on 08/07/1972

- Fiscal Code : TRGSLV72L48G888F

 

Residence:

Vittorio Emanuele

, 52

- 33170

Pordenone

(PN)

- IT -

 

Position

Since

Shares Amount

% Ownership

Attorney with special power

02/09/2014

 

No Prejudicial events are reported

 

No Protests registered

 

Castenetto

Nicola

 

Born in Udine

(UD)

on 09/10/1969

- Fiscal Code : CSTNCL69R09L483Y

 

Residence:

Cividina

, 119

- 33100

Udine

(UD)

- IT -

 

Position

Since

Shares Amount

% Ownership

Attorney with special power

15/10/2014

 

No Prejudicial events are reported

 

No Protests registered

 

Zennaro

Paola

 

Born in Venezia

(VE)

on 01/10/1965

- Fiscal Code : ZNNPLA65R41L736X

 

Residence:

Mantegna

, 68

- 33170

Pordenone

(PN)

- IT -

 

Position

Since

Shares Amount

% Ownership

Attorney with special power

02/09/2014

 

No Prejudicial events are reported

 

No Protests registered

 

Fiorotto

Daniele

 

Born in Roncade

(TV)

on 09/05/1971

- Fiscal Code : FRTDNL71E09H523Z

 

Residence:

Pantiera

, 57

- 31056

Roncade

(TV)

- IT -

 

Position

Since

Shares Amount

% Ownership

Attorney with special power

02/09/2014

 

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.

 

Ford

Timothy Allen

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

Terex Italia S.r.l.

Valsamoggia (BO) - IT -

10388810151

Director

Active

Registered

Terex Italia S.r.l.

Valsamoggia (BO) - IT -

10388810151

Board Chairman

Active

Registered

Terex Operations Italy Srl

Brescello (RE) - IT -

02028090351

Director

Active

Registered



The indication "REGISTERED" as Firm Status could refer to Firms in Liquidation, Active, Inactive.

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

Terex Italia S.r.l.

Valsamoggia - IT -

10388810151

8.416.000 .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

Pordenone Energia - Societa' Consortile Per Azioni

Pordenone - IT -

01400720932

250 .Eur

0,06

Active




Firm's location and structure

 

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

 

-

Legal and operative seat

(Workshop)

since 21/11/2007

 

Delle Innovazioni

, 17

- 33074

- Fontanafredda

(PN)

- IT -

 

PHONE

: 0434567311

 

FAX

: 0434998631

 

Legal mail

: GRUCOMEDIL@LEGALMAIL.IT

 

-

Branch

(Store)

since 14/04/2008

 

Delle Innovazioni

, 4

- 33074

- Fontanafredda

(PN)

- IT -

 

-

Branch

(Warehouse)

since 09/07/2012

 

Delle Industrie Loc.tessere

, SN

- 33070

- Polcenigo

(PN)

- IT -

 

-

Branch

since 31/10/2012

 

Vittorio Veneto

, 158/B

- 32100

- Belluno

(BL)

- IT -

 

-

Branch

(Warehouse)

since 31/10/2012

 

Dell'industria

, 32

- 32010

- Pieve d'Alpago

(BL)

- IT -

 

-

Branch

(Store)

since 26/09/2013

 

Predazzi

, 4

- 33074

- Fontanafredda

(PN)

- IT -

 

Employees

: 143

 

Assistants

: 1

 

Fittings and Equipment for a value of 3.410.000

Eur

 

Stocks for a value of 23.840.000

Eur

 

The firm has a direct commercial organization

Sales are on a local scale.

The firm operates abroad as importer / exporter..

To purchase foreign products the firm uses the following channels :

- direct orders to foreign companies

Export represents more than 50% of the global turnover.

Products abroad are placed by :

- its own agents

 

- direct orders from foreign companies

 

- trading companies

 

Import comes generally from the following nations:

- Germany

 

- France

 

- Great Britain

 

Export is mainly towards:

- Greece

 

- Austria

 

- Italy

 

 

Historical Information and/or Firm's Status

 

CHANGES TO THE LEGAL FORM:

 

Former legal form

New legal form

Changement Date

Limited liability company

Joint stock company

Limited liability company

Joint stock company

26/06/1997

 

CEASINGS/INCORPORATIONS/MERGES:

 

Project of merging by taking over of

 

Recom S.r.l.

 

Dell'industria

, 32

, 32010

, Pieve d'Alpago

(BL)

- IT -

 

Fiscal Code: 01036940250

 

Date

Merging/splitting-up project:

31/08/2012

 

The firm absorbed by merging of

 

Recom S.r.l.

 

Dell'industria

, 32

, 32010

, Pieve d'Alpago

(BL)

- IT -

 

Fiscal Code: 01036940250

 

Date

:

31/10/2012



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 1986

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

During the last years the subject suffered net losses and in 2013 r.o.e. is -8,88%.

The operating result is negative.

The operating loss amounts to Eur. -2.102.647 .

The economic management produced a gross operating margin of Eur. 3.309.314 showing an upward trend if compared to 2012.

The analysis shows a fair financial position as the indebtedness volume is acceptable (1,47) and decreasing as against 2012.

It's shareholders funds amount to Eur. 29.749.497 , increasing by 40,35% if compared to the financial year 2012.

Total indebtedness totalled Eur. 44.786.114, increasing if compared to the previous year, during which they were equal to Eur. 35.448.539 (26,34%).

Financial indebdtedness is under control whereas debts to suppliers are frequent and higher than sector's average.

Liquidity is however good.

Due from customers average term is high and equal to 128,43 days. but in line with the sector.

As far as the cash flow is concerned during the latest financial year it amounted to Eur. 1.533.911

During 2013 financial year labour costs amounted to Eur. 9.676.532, with a 13,1% incidence on production costs. , with a 12,51% incidence on turnover.

The financial management has a limited economic impact, equal to -1,01% on the sales.



Financial Data

 

Complete balance-sheet for the year

al 31/12/2013

(in Eur

x 1)

 

Item Type

Value

Sales

77.379.103

Profit (Loss) for the period

-2.642.540

 

Complete balance-sheet for the year

al 31/12/2012

(in Eur

x 1)

 

Item Type

Value

Sales

50.690.831

Profit (Loss) for the period

-13.838.061

 

Complete balance-sheet for the year

al 31/12/2011

(in Eur

x 1)

 

Item Type

Value

Sales

58.704.310

Profit (Loss) for the period

-3.097.279

 

Complete balance-sheet for the year

al 31/12/2010

(in Eur

x 1)

 

Item Type

Value

Sales

40.332.469

Profit (Loss) for the period

-6.809.706




 

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.

520.045

829.634

95.200

. . Industrial patent rights

30.406

21.972

21.283

. . Concessions,licenses,trademarks.

160.848

176.889

192.930

. . Goodwill

. . Assets in formation and advance paymen.

41.491

77.659

919.142

. . Other intangible fixed assets

157.613

. Total Intangible Fixed Assets

752.790

1.106.154

1.386.168

. TANGIBLE FIXED ASSETS

. . Real estate

1.203.258

1.221.673

1.143.220

. . Plant and machinery

419.127

552.691

693.704

. . Industrial and commercial equipment

2.995.443

4.260.995

4.142.976

. . Other assets

218.146

291.264

298.322

. . Assets under construction and advances

. Total Tangible fixed assets

4.835.974

6.326.623

6.278.222

. FINANCIAL FIXED ASSETS

. . Equity investments

448

448

11.283

. . . Equity invest. in subsidiary companies

. . . Equity invest. in associated companies

. . . Equity invest. in holding companies

. . . Equity invest. in other companies

448

448

11.283

. . Financial receivables

2.550

2.650

13.603

. . . . Within 12 months

2.550

2.650

. . . . Beyond 12 months

13.603

. . . Receivab due from subsidiaries

. . . . Within 12 months

. . . . Beyond 12 months

. . . Receivables due from assoc.comp.

. . . . Within 12 months

. . . . Beyond 12 months

. . . Receivables due from holding comp.

. . . . Within 12 months

. . . . Beyond 12 months

. . . Receivables due from third parties

2.550

2.650

13.603

. . . . Within 12 months

2.550

2.650

. . . . Beyond 12 months

13.603

. . Other securities

. . Own shares

. . . Total nominal value

. Total financial fixed assets

2.998

3.098

24.886

Total fixed assets

5.591.762

7.435.875

7.689.276

CURRENT ASSETS

. INVENTORIES

. . Raw materials and other consumables

12.310.557

12.403.824

10.254.243

. . Work in progress and semimanufactured

3.483.674

4.477.138

4.532.091

. . Work in progress on order

. . Finished goods

7.825.215

16.006.955

15.845.930

. . Advance payments

223.616

36.699

84.328

. Total Inventories

23.843.062

32.924.616

30.716.592

. CREDITS NOT HELD AS FIXED ASSETS

. . Within 12 months

49.439.970

30.834.357

33.537.629

. . Beyond 12 months

4.926.151

. . Trade receivables

27.604.162

13.767.799

20.871.524

. . . . Within 12 months

27.604.162

13.767.799

20.871.524

. . . . Beyond 12 months

. . Receivables due from subsid. comp.

. . . . Within 12 months

. . . . Beyond 12 months

. . Receivables due from assoc. comp.

. . . . Within 12 months

. . . . Beyond 12 months

. . Receivables due from holding comp.

12.478.645

8.695.433

5.787.314

. . . . Within 12 months

12.478.645

8.695.433

5.787.314

. . . . Beyond 12 months

. . Fiscal Receivables

6.268.357

5.075.611

4.565.591

. . . . Within 12 months

6.268.357

5.075.611

4.565.591

. . . . Beyond 12 months

. . Receivables for anticipated taxes

2.749.438

2.749.438

6.248.667

. . . . Within 12 months

2.749.438

2.749.438

1.322.516

. . . . Beyond 12 months

4.926.151

. . Receivables due from third parties

339.368

546.076

990.684

. . . . Within 12 months

339.368

546.076

990.684

. . . . Beyond 12 months

. Total Credits not held as fixed assets

49.439.970

30.834.357

38.463.780

. 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

924.975

22.124

5.275

. . Checks

. . Banknotes and coins

986

1.531

2.667

. Total Liquid funds

925.961

23.655

7.942

Total current assets

74.208.993

63.782.628

69.188.314

ADJUSTMENT ACCOUNTS

. Discount on loans

101.052

125.368

. Other adjustment accounts

337.783

Total adjustments accounts

101.052

125.368

337.783

TOTAL ASSETS

79.901.807

71.343.871

77.215.373

LIABILITIES

STOCKHOLDERS' EQUITY

. Capital stock

8.416.000

8.416.000

3.640.000

. Additional paid-in capital

. Revaluation reserves

4.550.442

4.550.442

4.550.442

. Legal reserve

728.000

728.000

728.000

. Reserve for Own shares

. Statute reserves

. Other reserves

51.763.667

51.763.672

15.595.025

. Accumulated Profits (Losses)

-30.423.532

-16.585.471

-13.488.192

. Profit( loss) of the year

-5.285.080

-27.676.122

-3.097.279

. Advances on dividends

. Partial loss of the year Coverage

Total Stockholders'Equity

29.749.497

21.196.521

7.927.996

RESERVES FOR RISKS AND CHARGES

. . Reserve for employee termination indem.

. . Taxation fund, also differed

. . Other funds

1.721.807

2.121.694

1.442.480

Total Reserves for Risks and Charges

1.721.807

2.121.694

1.442.480

Employee termination indemnities

876.525

973.947

1.218.987

ACCOUNTS PAYABLE

. . . . Within 12 months

44.786.114

35.448.539

24.656.047

. . . . Beyond 12 months

41.909.529

. . 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

636

135.488

616

. . . . Within 12 months

636

135.488

616

. . . . Beyond 12 months

. . Due to other providers of finance

. . . . Within 12 months

. . . . Beyond 12 months

. . Advances from customers

5.519.685

5.478.816

696.300

. . . . Within 12 months

5.519.685

5.478.816

696.300

. . . . Beyond 12 months

. . Trade payables

18.353.639

11.447.962

17.856.283

. . . . Within 12 months

18.353.639

11.447.962

17.856.283

. . . . 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

18.212.927

15.523.727

45.203.882

. . . . Within 12 months

18.212.927

15.523.727

3.294.353

. . . . Beyond 12 months

41.909.529

. . Due to the tax authorities

148.920

. . . . Within 12 months

148.920

. . . . Beyond 12 months

. . Due to social security and welfare inst.

728.654

774.561

700.636

. . . . Within 12 months

728.654

774.561

700.636

. . . . Beyond 12 months

. . Other payables

1.970.573

2.087.985

1.958.939

. . . . Within 12 months

1.970.573

2.087.985

1.958.939

. . . . Beyond 12 months

Total accounts payable

44.786.114

35.448.539

66.565.576

ADJUSTMENT ACCOUNTS

. Agio on loans

. Other adjustment accounts

125.324

360.049

60.334

Total adjustment accounts

125.324

360.049

60.334

TOTAL LIABILITIES

77.259.267

60.100.750

77.215.373

 

 

MEMORANDUM ACCOUNTS

 

Third party goods

Investment accounts

2.968.512

2.286.098

Risk accounts

2.892.816

1.721.717

Civil and fiscal norms relation

 

 

PROFIT AND LOSS ACCOUNTS

 

VALUE OF PRODUCTION

. Revenues from sales and services

77.379.103

50.690.831

58.704.310

. Changes in work in progress

-9.502.693

-61.264

-840.671

. Changes in semi-manufact. products

. Capitalization of internal work

946.030

1.399.410

2.942.502

. Other income and revenues

2.918.796

4.247.740

5.886.513

. . Contributions for operating expenses

33.166

11.396

33.895

. . Different income and revenues

2.885.630

4.236.344

5.852.618

Total value of production

71.741.236

56.276.717

66.692.654

PRODUCTION COSTS

. Raw material,other materials and consum.

34.338.502

30.634.090

32.431.569

. Services received

18.087.044

. Leases and rentals

24.247.390

20.148.367

1.688.905

. Payroll and related costs

9.676.532

11.323.149

12.888.561

. . Wages and salaries

6.967.940

8.394.399

9.461.763

. . Social security contributions

2.253.213

2.435.208

2.854.972

. . Employee termination indemnities

339.514

379.576

424.852

. . Pension and similar

115.865

113.966

146.974

. . Other costs

. Amortization and depreciation

4.176.451

5.533.248

1.403.688

. . Amortization of intangible fixed assets

2.969.075

1.702.260

167.459

. . Amortization of tangible fixed assets

842.674

1.057.135

1.034.336

. . Depreciation of tangible fixed assets

1.745.071

80.038

. . Writedown of current receiv.and of liquid

364.702

1.028.782

121.855

. Changes in raw materials

-234.222

-2.316.918

1.127.657

. Provisions to risk reserves

369.997

347.166

30.966

. Other provisions

865.513

170.884

394.793

. Other operating costs

403.720

1.511.404

315.458

Total production costs

73.843.883

67.351.390

68.368.641

Diff. between value and cost of product.

-2.102.647

-11.074.673

-1.675.987

FINANCIAL INCOME AND EXPENSE

. Income from equity investments

. . In subsidiary companies

. . In associated companies

. . In other companies

. Other financial income

106.377

119.913

94.304

. . 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

106.377

119.913

. . . - Subsidiary companies

. . . - Associated companies

. . . - Holding companies

10.566

6.312

. . . - Other companies

95.811

113.601

. Interest and other financial expense

-885.213

-783.257

-1.029.385

. . Towards subsidiary companies

. . Towards associated companies

. . Towards holding companies

-1.102.578

-948.048

. . Towards other companies

885.213

783.257

Total financial income and expense

-778.836

-663.344

-935.081

ADJUSTMENTS TO FINANCIAL ASSETS

. Revaluations

. . Of equity investments

. . Of financ.fixed assets not repres.E.I.

. . Of securities incl.among current assets

. Devaluation

-12.469

-6.020

. . Of equity investments

-12.469

-6.020

. . Of financial fixed assets (no equity inv)

. . Of securities included among current ass

Total adjustments to financial assets

-12.469

-6.020

EXTRAORDINARY INCOME AND EXPENSE

. Extraordinary income

3

186.928

. . Gains on disposals

. . Other extraordinary income

3

186.928

. Extraordinary expense

-434

-428.230

-1.165.149

. . Losses on disposals

. . Taxes relating to prior years

286

29.572

. . Other extraordinary expense

-720

-457.802

-1.165.149

Total extraordinary income and expense

-434

-428.227

-978.221

Results before income taxes

-2.881.917

-12.178.713

-3.595.309

. Taxes on current income

-239.377

1.659.348

-498.030

. . current taxes

148.066

641

223.949

. . differed taxes(anticip.)

-387.443

1.658.707

-721.979

. Net income for the period

-2.642.540

-13.838.061

-3.097.279

. Adjustments in tax regulations pursuance

. Provisions in tax regulations pursuance

. Profit (loss) of the year

-2.642.540

-13.838.061

-3.097.279

 

 

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

0,10

0,10

0,18

Elasticity Ratio

Units

0,93

0,89

0,90

0,79

Availability of stock

Units

0,30

0,46

0,40

0,21

Total Liquidity Ratio

Units

0,63

0,43

0,50

0,52

Quick Ratio

Units

0,01

0,00

0,00

0,03

COMPOSITION ON SOURCE

Net Short-term indebtedness

Units

1,47

1,67

3,11

3,01

Self Financing Ratio

Units

0,37

0,30

0,10

0,19

Capital protection Ratio

Units

0,89

1,91

0,93

0,66

Liabilities consolidation quotient

Units

0,02

0,03

1,75

0,16

Financing

Units

1,51

1,67

8,40

3,56

Permanent Indebtedness Ratio

Units

0,38

0,31

0,66

0,34

M/L term Debts Ratio

Units

0,01

0,01

0,56

0,10

Net Financial Indebtedness Ratio

Units

0,00

0,01

0,00

0,69

CORRELATION

Fixed assets ratio

Units

5,48

2,98

6,64

1,65

Current ratio

Units

1,66

1,80

2,81

1,18

Acid Test Ratio-Liquidity Ratio

Units

1,12

0,87

1,56

0,86

Structure's primary quotient

Units

5,32

2,85

1,03

1,02

Treasury's primary quotient

Units

0,02

0,00

0,00

0,06

Rate of indebtedness ( Leverage )

%

268,58

336,58

973,96

509,92

Current Capital ( net )

Value

29.422.879

28.334.089

44.532.267

330.495

RETURN

Return on Sales

%

1,98

-16,38

-2,88

3,79

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

%

-8,88

-65,28

-39,07

6,70

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

%

-9,69

-57,46

-45,35

18,82

Return on Investment ( R.O.I. )

%

-2,63

-15,52

-2,17

4,89

Return/ Sales

%

-2,72

-21,85

-2,85

4,78

Extra Management revenues/charges incid.

%

n.c.

n.c.

n.c.

29,96

Cash Flow

Value

1.533.911

-8.304.813

-1.693.591

165.166

Operating Profit

Value

-2.102.647

-11.074.673

-1.675.987

225.594

Gross Operating Margin

Value

3.309.314

-5.023.375

153.460

376.080

MANAGEMENT

Credits to clients average term

Days

128,43

97,78

127,99

111,07

Debts to suppliers average term

Days

224,70

191,20

434,84

127,44

Average stock waiting period

Days

110,93

233,83

188,37

62,88

Rate of capital employed return ( Turnover )

Units

0,97

0,71

0,76

1,10

Rate of stock return

Units

3,25

1,54

1,91

5,58

Labour cost incidence

%

12,51

22,34

21,96

18,94

Net financial revenues/ charges incidence

%

-1,01

-1,31

-1,59

-1,15

Labour cost on purchasing expenses

%

13,10

16,81

18,85

18,99

Short-term financing charges

%

1,98

2,21

1,55

2,55

Capital on hand

%

103,26

140,74

131,53

90,89

Sales pro employee

Value

256.222

143.600

146.030

199.007

Labour cost pro employee

Value

32.041

32.076

32.061

34.820

 

 

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

:

297.699

Population living in the region

:

1.204.718

Number of families in the region

:

516.349

 

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

 

- per food products

:

377

- per non food products

:

1.727

- per energy consume

:

114



Sector Data

 

The values are calculated on a base of 1.964 significant companies.

 

The companies cash their credits on an average of 111 dd.

The average duration of suppliers debts is about 127 dd.

The sector's profitability is on an average of 3,79%.

The labour cost affects the turnover in the measure of 18,94%.

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 1,10.

The employees costs represent the 18,99% of the production costs.



Statistical Detrimental Data

 

Statistcally the trade activity shows periods of crisis.

The area is statistically considered lowly risky.

In the region 3.901 protested subjects are found; in the province they count to 695.

The insolvency index for the region is 0,33, , while for the province it is 0,24.

Total Bankrupt companies in the province : 1.260.

Total Bankrupt companies in the region : 5.085.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.81

UK Pound

1

Rs.98.93

Euro

1

Rs.69.66

 

INFORMATION DETAILS

 

Analysis Done by :

KAS

 

 

Report Prepared by :

TRU

 

               

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.