|
Report No. : |
354037 |
|
Report Date : |
17.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
ITALIAN STONE MACHINES SRL |
|
|
|
|
Registered Office : |
Via Dorsale, 23/B, 54100 – Massa (MS) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
18.05.2013 |
|
|
|
|
Legal Form : |
Limited liability company |
|
|
|
|
Line of Business : |
Manufacture of otehr mechanic products and other general-purpose
machinery |
|
|
|
|
No. of Employee : |
From 36 to 50 |
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 : |
Slow but correct |
|
|
|
|
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 |
ITALIAN STONE MACHINES SRL
Via Dorsale, 23/B,
54100 – Massa (MS)
-IT-
|
Fiscal Code |
: |
01290600459 |
|
Legal Form |
: |
Limited liability company |
|
start of Activities |
: |
24/09/2013 |
|
Equity |
: |
1.500.000 |
|
Turnover Range |
: |
5.000.000/6.500.000 |
|
Number of Employees |
: |
from 36 to 50 |
Manufacture of otehr mechanic products and other general-purpose
machinery
Legal Form : Limited liability company
|
Fiscal Code : 01290600459 |
|
Foreign Trade Reg. no. : MS011035 since 11/06/2014 |
|
Chamber of Commerce no. : 128986 of Massa since 24/05/2013 |
|
V.A.T. Code : 01290600459 |
|
Establishment date |
: 18/05/2013 |
|
|
Start of Activities |
: 24/09/2013 |
|
|
Legal duration |
: 31/12/2030 |
|
|
Nominal Capital |
: 3.029.000 |
|
|
Subscribed Capital |
: 3.029.000 |
|
|
Paid up Capital |
: 3.029.000 |
|
Legal mail : |
ITALIANSTONEMACHINES@PEC.IT |
|
|
Iardella |
Carlo Alberto |
|
|
Born in Carrara |
(MS) |
on 29/05/1946 |
- Fiscal Code : RDLCLL46E29B832D |
|
|
Residence: |
Biaggini |
, 33 |
- 19032 |
Lerici |
(SP) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
27/09/2013 |
||
|
Assistant board Chairman |
25/11/2014 |
||
|
Managing Director |
23/12/2014 |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Melani |
Agostino |
|
|
Born in Grosseto |
(GR) |
on 05/04/1943 |
- Fiscal Code : MLNGTN43D05E202Y |
|
|
Residence: |
Dei Lecci |
, 73 |
- 55049 |
Viareggio |
(LU) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
27/09/2013 |
|
|
Fgaier |
Abderraouf |
|
|
Born in Kerkennah |
( ) |
on 13/10/1949 |
- Fiscal Code : FGRBRR49R13Z352Z |
|
|
Residence: |
Adriatic Building, Oceana Res |
, APT 1202 |
Dubai |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
27/09/2013 |
||
|
Board Chairman |
27/09/2013 |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Barsanti |
Roberta |
|
|
Born in Viareggio |
(LU) |
on 21/11/1969 |
- Fiscal Code : BRSRRT69S61L833Z |
|
|
Residence: |
Pinciana |
, 2 |
- 55049 |
Viareggio |
(LU) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
27/09/2013 |
|
|
Melara Middle East Dmcc |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Partner |
|
|
No Protests registered |
*checkings have been performed on a national scale.
In this module are listed the companies in which members hold or have
holded positions.
|
|
Iardella |
Carlo Alberto |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Iveco - Oto Melara Societa' Consortile AResponsabilita' Limitata |
Roma (RM) - IT - |
07032480589 |
Director |
Withdrawn |
Registered |
|
Iveco - Oto Melara Societa' Consortile AResponsabilita' Limitata |
Roma (RM) - IT - |
07032480589 |
Procurator |
Withdrawn |
Registered |
|
Iveco - Oto Melara Societa' Consortile AResponsabilita' Limitata |
Roma (RM) - IT - |
07032480589 |
Assistant board
Chairman |
Withdrawn |
Registered |
|
Iveco - Oto Melara Societa' Consortile AResponsabilita' Limitata |
Roma (RM) - IT - |
07032480589 |
Board Chairman |
Withdrawn |
Registered |
|
Consorzio S.n.p.e. - O.t.o. |
La Spezia (SP) - IT - |
00819370115 |
Chairman |
Withdrawn |
Registered |
|
Oto Melara S.p.a. |
La Spezia (SP) - IT - |
01125920114 |
Managing
Director |
Withdrawn |
Registered |
|
Oto Melara S.p.a. |
La Spezia (SP) - IT - |
01125920114 |
Director |
Withdrawn |
Registered |
|
Oto Melara S.p.a. |
La Spezia (SP) - IT - |
01125920114 |
Procurator |
Withdrawn |
Registered |
|
Oto Melara S.p.a. |
La Spezia (SP) - IT - |
01125920114 |
Board Chairman |
Withdrawn |
Registered |
|
Distretto Ligure Delle Tecnologie MarineSocieta' Consortile A Re |
La Spezia (SP) - IT - |
01303220113 |
Director |
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.
Shareholders' list as at date of data collection:
|
Firm's Style / Name |
Seat / Residence |
Fiscal Code |
Owned Shares |
% Ownership |
|
Iardella Carlo Alberto |
Lerici - IT - |
RDLCLL46E29B832D |
230.452 .Eur |
7,60 |
|
Melani Marco |
Livorno - IT - |
MLNMRC69E12L833U |
92.697 .Eur |
3,06 |
|
Barsanti Roberta |
Viareggio - IT - |
BRSRRT69S61L833Z |
288.065 .Eur |
9,51 |
|
Melara Middle East Dmcc |
2.037.022 .Eur |
67,25 |
||
|
Barsanti Martina |
BRSMTN86D59G628M |
288.065 .Eur |
9,51 |
|
|
Melani Massimo |
MLNMSM73P01G628U |
92.697 .Eur |
3,06 |
The Company under review has participations in the following Companies:
|
Firm's Style |
Seat |
Fiscal Code |
Owned Shares
Amount |
% Ownership |
since |
until |
Share Status |
|
Confiditalia Consorzio Nazionale Fidi E Garanzie Societa' Consort Ile
Per Azioni |
06975220721 |
250 .Eur |
0,05 |
Active |
In order to carry out its activities the firm uses the following
locations:
|
- |
Legal and operative seat |
|
Dorsale |
, 23/B |
- 54100 |
- Massa |
(MS) |
- IT - |
|
Legal mail |
: ITALIANSTONEMACHINES@PEC.IT |
|
- |
Branch |
(Factory) |
since 24/10/2013 |
|
Apuania Parco Produttivo |
, LOTTO 34 |
- 54100 |
- Massa |
(MS) |
- IT - |
|
Employees |
: 39 |
|
Fittings and Equipment for a value of 3.000 |
Eur |
|
Stocks for a value of 1.410.000 |
Eur |
Protests checking on the subject firm has given a negative result.
Search performed on a National Scale
|
|
Prejudicial Events Search Result: NEGATIVE |
Search performed on a specialized data base.
None reported, standing to the latest received edition of the Official Publications.
Company's starting of activities dates back to some years ago (2013).
The balance-sheet analysis has been made on the base of the latest 2
financial years.
Last two financial years were marked by losses; in 2014 r.o.e. is
-86,39%.
A loss is registered as to the operating result (-31,2%).
The operating loss is equal to Eur. -1.195.164.
It has been registered a negative gross operating margin value of (Eur.
-1.026.900).
The company has an excellent net worth if compared to its debts, with a
low indebtedness (0,95)
Subject can manage an equity capital funds for an amount of Eur.
1.465.662 on the same levels as the year before.
The financial management has recorded total debts amounting to Eur.
2.167.777, , rising as opposed to the previous year (+more then 100%).
The company does not exceed in bank borrowings; the recourse to
suppliers' credit is also limited below field's average.
The liquidity level is positive (1,39).
Credits are collected in 28,66 days on the average. , a better value
than the sector's average.
The financial management generated a negative cash flow (Eur.
-1.097.855).
Subordinate employment cost is of Eur. 2.257.626, i.e. 29,33% on total
production costs. and a 43,22% incidence on sales volumes.
The financial management has a limited economic impact, equal to -0,45%
on the sales.
|
|
Complete balance-sheet for the year |
al 31/12/2014 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
5.223.364 |
|
Profit (Loss) for the period |
-1.266.119 |
|
|
Complete balance-sheet for the year |
al 31/12/2013 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
757.193 |
|
Profit (Loss) for the period |
-18.220 |
From our constant monitoring of the relevant Public Administration
offices, no more recent balance sheets result to have been filed.
|
- Balance Sheet as at 31/12/2014 - 12 Mesi - Currency: - Amounts x 1 |
|
- Balance Sheet as at 31/12/2013 - 12 Mesi - Currency: - Amounts x 1 |
|
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|
|
RATIOS |
Value Type |
as at 31/12/2014 |
as at 31/12/2013 |
Sector Average |
|
COMPOSITION ON
INVESTMENT |
||||
|
Rigidity Ratio |
Units |
0,21 |
0,13 |
0,18 |
|
Elasticity Ratio |
Units |
0,79 |
0,86 |
0,79 |
|
Availability of stock |
Units |
0,37 |
0,21 |
0,21 |
|
Total Liquidity Ratio |
Units |
0,42 |
0,65 |
0,52 |
|
Quick Ratio |
Units |
0,20 |
0,44 |
0,03 |
|
COMPOSITION ON
SOURCE |
||||
|
Net Short-term indebtedness |
Units |
0,95 |
n.c. |
3,01 |
|
Self Financing Ratio |
Units |
0,38 |
0,66 |
0,19 |
|
Capital protection Ratio |
Units |
1,78 |
0,94 |
0,66 |
|
Liabilities consolidation quotient |
Units |
0,03 |
0,02 |
0,16 |
|
Financing |
Units |
1,48 |
0,49 |
3,56 |
|
Permanent Indebtedness Ratio |
Units |
0,40 |
0,67 |
0,34 |
|
M/L term Debts Ratio |
Units |
0,02 |
0,01 |
0,10 |
|
Net Financial Indebtedness Ratio |
Units |
0,00 |
0,00 |
0,69 |
|
CORRELATION |
||||
|
Fixed assets ratio |
Units |
1,93 |
5,16 |
1,65 |
|
Current ratio |
Units |
1,39 |
2,67 |
1,18 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
0,74 |
2,01 |
0,86 |
|
Structure's primary quotient |
Units |
1,84 |
5,12 |
1,02 |
|
Treasury's primary quotient |
Units |
0,36 |
1,37 |
0,06 |
|
Rate of indebtedness ( Leverage ) |
% |
261,34 |
150,38 |
509,92 |
|
Current Capital ( net ) |
Value |
844.131 |
1.378.574 |
330.495 |
|
RETURN |
||||
|
Return on Sales |
% |
-21,02 |
1,06 |
3,79 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
-86,39 |
-1,07 |
6,70 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
-82,91 |
0,35 |
18,82 |
|
Return on Investment ( R.O.I. ) |
% |
-31,20 |
0,22 |
4,89 |
|
Return/ Sales |
% |
-22,88 |
0,73 |
4,78 |
|
Extra Management revenues/charges incid. |
% |
n.c. |
-331,88 |
29,96 |
|
Cash Flow |
Value |
-1.097.855 |
8.025 |
165.166 |
|
Operating Profit |
Value |
-1.195.164 |
5.490 |
225.594 |
|
Gross Operating Margin |
Value |
-1.026.900 |
31.735 |
376.080 |
|
MANAGEMENT |
||||
|
Credits to clients average term |
Days |
28,66 |
239,86 |
111,07 |
|
Debts to suppliers average term |
Days |
85,36 |
154,94 |
127,44 |
|
Average stock waiting period |
Days |
97,11 |
258,81 |
62,88 |
|
Rate of capital employed return ( Turnover ) |
Units |
1,36 |
0,30 |
1,10 |
|
Rate of stock return |
Units |
3,71 |
1,39 |
5,58 |
|
Labour cost incidence |
% |
43,22 |
46,87 |
18,94 |
|
Net financial revenues/ charges incidence |
% |
-0,45 |
0,07 |
-1,15 |
|
Labour cost on purchasing expenses |
% |
29,33 |
26,71 |
18,99 |
|
Short-term financing charges |
% |
1,43 |
0,02 |
2,55 |
|
Capital on hand |
% |
73,33 |
336,73 |
90,89 |
|
Sales pro employee |
Value |
74.619 |
68.835 |
199.007 |
|
Labour cost pro employee |
Value |
32.251 |
32.263 |
34.820 |
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.
|
Population living in the province |
: |
200.644 |
|
Population living in the region |
: |
3.598.269 |
|
Number of families in the region |
: |
1.474.681 |
Monthly family expences average in the region (in Eur..) :
|
- per food products |
: |
444 |
|
- per non food products |
: |
2.009 |
|
- per energy consume |
: |
122 |
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.
Statistcally the trade activity shows periods of crisis.
The area is statistically considered moderately risky.
In the region 24.960 protested subjects are found; in the province they
count to 1.432.
The insolvency index for the region is 0,70, , while for the province it
is 0,72.
Total Bankrupt companies in the province : 1.056.
Total Bankrupt companies in the region : 20.423.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.85 |
|
UK Pound |
1 |
Rs.100.58 |
|
Euro |
1 |
Rs.73.16 |
|
EUR |
1 |
Rs. 72.07 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
KIN |
|
|
|
|
Report Prepared
by : |
ASH |
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.