MIRA INFORM REPORT

 

 

Report No. :

354814

Report Date :

18.12.2015

 

IDENTIFICATION DETAILS

 

Name :

INNSE CILINDRI SRL

 

 

Registered Office :

Viale Certosa, 239, 20151 – Milano (MI) -IT-

 

 

Country :

Italy

 

 

Financials (as on) :

31.12.2012

 

 

Date of Incorporation :

24.04.1996

 

 

Legal Form :

Sole-Member Limited Liability Company

 

 

Line of Business :

Cast Iron Fusion

 

 

No. of Employees :

From 111 to 130

 

 

RATING & COMMENTS

 

MIRA’s Rating :

C

 

RATING

STATUS

PROPOSED CREDIT LINE

<10

C

Absolute credit risk exists. Caution needed to be exercised

Credit not recommended

 

 

Status :

The Company is Insolvent

Payment Behaviour :

--

Litigation :

--

 

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 & address

 

INNSE CILINDRI SRL

Viale Certosa, 239

20151 – Milano (MI) -IT-

 

 

Summary

 

Fiscal Code

:

02247040047

Legal Form

:

Sole-Member Limited Liability Company

start of Activities

:

24/04/1996

Equity

:

Over 2.582.254

Turnover Range

:

50.000.000/75.000.000

Number of Employees

:

from 111 to 130

Firm's Status

:

The company is insolvent.

 

 

Activity

 

Cast Iron Fusion



Legal Data

 

Legal Form : Sole-Member Limited Liability Company

Fiscal Code : 02247040047

 

Foreign Trade Reg. no. : MI273884 since 16/12/1997

 

Chamber of Commerce no. : 364123 of Brescia

 

Chamber of Commerce no. : 400499 of Brescia

 

Chamber of Commerce no. : 163811 of Cuneo since 30/12/1991

 

Chamber of Commerce no. : 1508691 of Cuneo

 

Chamber of Commerce no. : 135016 of Cremona

 

Chamber of Commerce no. : 1508691 of Milano since 15/10/1996

 

Chamber of Commerce no. : 148829 of Taranto

 

Chamber of Commerce no. : 151795 of Taranto

 

Chamber of Commerce no. : 854952 of Torino

 

Firms' Register : MI-1996-1521475 of Milano

 

V.A.T. Code : 11862180152

 

Establishment date

: 28/11/1991

Start of Activities

: 24/04/1996

Legal duration

: 31/12/2100

Nominal Capital

: 790.400

Subscribed Capital

: 790.400

Paid up Capital

: 790.400

 

Legal mail :

INNSECILINDRI@ILVAPEC.COM

 

 

Members



Verde

Martino

Enrico

 

Vuoto

Born in Savona

(SV)

on 24/02/1958

- Fiscal Code : MRTNRC58B24I480A

 

Vuoto

Residence:

Certosa

, 239

- 20151

Milano

(MI)

- IT -

 

Position

Since

Shares Amount

% Ownership

Procurator

28/11/2013

 

Vuoto

No Prejudicial events are reported

 

Vuoto

No Protests registered

 

Verde

Gnudi

Piero

 

Vuoto

Born in Bologna

(BO)

on 17/05/1938

- Fiscal Code : GNDPRI38E17A944M

 

Vuoto

Residence:

Certosa

, 239

- 20151

Milano

(MI)

- IT -

 

Position

Since

Shares Amount

% Ownership

Receiver

20/02/2015



Verde

Campi

Flavio

 

Vuoto

Born in Saronno

(VA)

on 18/05/1961

- Fiscal Code : CMPFLV61E18I441M

 

Vuoto

Residence:

Certosa

, 239

- 20151

Milano

(MI)

- IT -

 

Position

Since

Shares Amount

% Ownership

Procurator

28/05/2008

 

Vuoto

No Prejudicial events are reported

 

Vuoto

No Protests registered

 

Verde

Mura

Antonio

 

Vuoto

Born in Milano

(MI)

on 17/02/1958

- Fiscal Code : MRUNTN58B17F205X

 

Vuoto

Residence:

Certosa

, 239

- 20151

Milano

(MI)

- IT -

 

Position

Since

Shares Amount

% Ownership

Attorney with special power

09/07/2002

 

Vuoto

No Prejudicial events are reported

 

Vuoto

No Protests registered

 

Verde

Stovali

Anna

 

Vuoto

Born in Foligno

(PG)

on 10/02/1957

- Fiscal Code : STVNNA57B50D653A

 

Vuoto

Residence:

Certosa

, 239

- 20151

Milano

(MI)

- IT -

 

Position

Since

Shares Amount

% Ownership

Attorney with special power

09/03/2011

 

Vuoto

No Prejudicial events are reported

 

Vuoto

No Protests registered

 

Verde

Laghi

Enrico

 

Vuoto

Born in Roma

(RM)

on 23/02/1969

- Fiscal Code : LGHNRC69B23H501Z

 

Vuoto

Residence:

Certosa

, 239

- 20151

Milano

(MI)

- IT -

 

Position

Since

Shares Amount

% Ownership

Receiver

20/02/2015



Verde

Turco Liveri

Mario

 

Vuoto

Born in Mistretta

(ME)

on 02/07/1949

- Fiscal Code : TRCMRA49L02F251U

 

Vuoto

Residence:

Certosa

, 239

- 20151

Milano

(MI)

- IT -

 

Position

Since

Shares Amount

% Ownership

Procurator

22/10/1999

Attorney with special power

20/10/2011

 

Vuoto

No Prejudicial events are reported

 

Vuoto

No Protests registered

 

Verde

Rotondi

Orlando

 

Vuoto

Born in Cautano

(BN)

on 25/05/1947

- Fiscal Code : RTNRND47E25C359G

 

Vuoto

Residence:

Certosa

, 239

- 20151

Milano

(MI)

- IT -

 

Position

Since

Shares Amount

% Ownership

Director

28/10/2014

Managing Director

28/10/2014

Attorney with special power

09/03/2015

Procurator

09/03/2015

 

Vuoto

No Prejudicial events are reported

 

Vuoto

No Protests registered

 

Verde

Ilva Commerciale Srl Con Socio Unico

 

 

Vuoto

Residence:

Certosa

, 239

- 20151

Milano

(MI)

- IT -

 

Position

Since

Shares Amount

% Ownership

Sole partner

28/06/2012

 

Vuoto

No Prejudicial events are reported

 

Vuoto

No Protests registered

 

Verde

Del Balzo

Francesco

 

Vuoto

Born in Genova

(GE)

on 28/10/1961

- Fiscal Code : DLBFNC61R28D969L

 

Vuoto

Residence:

Certosa

, 239

- 20151

Milano

(MI)

- IT -

 

Position

Since

Shares Amount

% Ownership

Board Chairman

28/10/2014

Director

28/10/2014

 

Vuoto

No Prejudicial events are reported

 

Vuoto

No Protests registered

 

Verde

Maltagliati

Antonio

 

Vuoto

Born in Busto Arsizio

(VA)

on 31/01/1963

- Fiscal Code : MLTNTN63A31B300K

 

Vuoto

Residence:

Certosa

, 239

- 20151

Milano

(MI)

- IT -

 

Position

Since

Shares Amount

% Ownership

Attorney with special power

20/10/2011

 

Vuoto

No Prejudicial events are reported

 

Vuoto

No Protests registered

 

Verde

Bellicini

Federico

 

Vuoto

Born in Breno

(BS)

on 27/08/1966

- Fiscal Code : BLLFRC66M27B149K

 

Vuoto

Residence:

Certosa

, 239

- 20151

Milano

(MI)

- IT -

 

Position

Since

Shares Amount

% Ownership

Procurator

28/05/2008

 

Vuoto

No Prejudicial events are reported

 

Vuoto

No Protests registered

 

Verde

Carrubba

Corrado

 

Vuoto

Born in Roma

(RM)

on 01/07/1961

- Fiscal Code : CRRCRD61L01H501F

 

Vuoto

Residence:

Certosa

, 239

- 20151

Milano

(MI)

- IT -

 

Position

Since

Shares Amount

% Ownership

Receiver

20/02/2015



Verde

Iannone

Antonio

 

Vuoto

Born in Tivoli

(RM)

on 13/06/1953

- Fiscal Code : NNNNTN53H13L182C

 

Vuoto

Residence:

Certosa

, 239

- 20151

Milano

(MI)

- IT -

 

Position

Since

Shares Amount

% Ownership

Attorney with special power

09/03/2011

 

Vuoto

No Prejudicial events are reported

 

Vuoto

No Protests registered

 

Verde

Trevisan

Luca Massimo

 

Vuoto

Born in Milano

(MI)

on 21/03/1967

- Fiscal Code : TRVLMS67C21F205K

 

Vuoto

Residence:

Certosa

, 239

- 20151

Milano

(MI)

- IT -

 

Position

Since

Shares Amount

% Ownership

Director

28/10/2014

Managing Director

28/10/2014

 

Vuoto

No Prejudicial events are reported

 

Vuoto

No Protests registered

 

Verde

Feller

Fabrizio

 

Vuoto

Born in Brescia

(BS)

on 07/03/1979

- Fiscal Code : FLLFRZ79C07B157H

 

Vuoto

Residence:

Attilio Franchi

, 20

- 25127

Brescia

(BS)

- IT -

 

Position

Since

Shares Amount

% Ownership

Attorney with special power

25/02/2013

Procurator

25/02/2013

 

Vuoto

No Protests registered

 

Verde

Resnati

Rossano Giovanni

 

Vuoto

Born in Garbagnate Milanese

(MI)

on 03/01/1963

- Fiscal Code : RSNRSN63A03D912O

 

Vuoto

Residence:

Certosa

, 239

- 20151

Milano

(MI)

- IT -

 

Position

Since

Shares Amount

% Ownership

Procurator

31/07/2014

 

Vuoto

No Protests registered

 

Verde

Ilva Commerciale Srl Con Socio Unico

 

 

Position

Since

Shares Amount

% Ownership

Partner

 

Vuoto

No Prejudicial events are reported

 

Vuoto

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.

 

Verde

Rotondi

Orlando

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

Ilvaform Spa

Milano (MI) - IT -

00413580721

Sole Director

Active

Registered

Ilvaform Spa

Milano (MI) - IT -

00413580721

Attorney with special power

Active

Registered

Ilvaform Spa

Milano (MI) - IT -

00413580721

Procurator

Active

Registered

Ilva Distribuzione Italia S.r.l.

Genova (GE) - IT -

01393800352

Procurator

Withdrawn

Ceased

Ilva S.p.a.

Milano (MI) - IT -

11435690158

Attorney with special power

Withdrawn

The company is insolvent.

Ilva S.p.a.

Milano (MI) - IT -

11435690158

Procurator

Withdrawn

The company is insolvent.

Novigas

Novi Ligure (AL) - IT -

01537010066

Vice-Chairman

Withdrawn

Registered

Novigas

Novi Ligure (AL) - IT -

01537010066

Director

Withdrawn

Registered

 

Verde

Ilva Commerciale Srl Con Socio Unico

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

Sanac S.p.a.

Milano (MI) - IT -

02500860107

Sole partner

Active

The company is insolvent.

Ilva S.p.a.

Milano (MI) - IT -

11435690158

Procurator

Withdrawn

The company is insolvent.

 

Verde

Del Balzo

Francesco

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

Edison S.p.a.

Milano (MI) - IT -

03594220158

Procurator

Withdrawn

Merged

Sanac S.p.a.

Milano (MI) - IT -

02500860107

Director

Active

The company is insolvent.

Edison Termoelettrica Spa

Milano (MI) - IT -

08529670153

Procurator

Withdrawn

Ceased

Green Vicari S.r.l.

Camporeale (PA) - IT -

01446530493

Director

Withdrawn

Registered

 

Verde

Trevisan

Luca Massimo

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

Sanac S.p.a.

Milano (MI) - IT -

02500860107

Procurator

Active

The company is insolvent.

Ilva Servizi Marittimi - S.p.a.

Milano (MI) - IT -

03358460107

Procurator

Active

Registered

Ilva S.p.a.

Milano (MI) - IT -

11435690158

Procurator

Active

The company is insolvent.

Celestri S.r.l.

Milano (MI) - IT -

13041180152

Procurator

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

Ilva Commerciale Srl Con Socio Unico

Milano - IT -

03313980108

100,00


Firm's location and structure

 

-

Legal and operative seat

 

Certosa

, 239

- 20100

- Milano

(MI)

- IT -

 

PHONE

: 02307001

 

Legal mail

: INNSECILINDRI@ILVAPEC.COM

 

-

Branch

(Factory)

since 12/12/1997

until 31/12/1997

 

Attilio Franchi

, 20

- 25100

- Brescia

(BS)

- IT -

 

-

Branch

(Warehouse)

since 12/12/1997

 

Nazionale

, 24

- 25050

- Sellero

(BS)

- IT -

 

Employees

: 129

 

Fittings and Equipment for a value of 5.810.000

Eur

 

Stocks for a value of 23.570.000

Eur

 

 

Historical Information and/or Firm's Status

 

CEASINGS/INCORPORATIONS/MERGES:

 

Verde

Project of splitting-up and tranfer from

 

VuotoInnse Cilindri S.r.l.

 

Vuoto

Attilio Franchi

, 20

, 25127

, Brescia

(BS)

- IT -

 

Vuoto

Fiscal Code: 03052100108

 

Vuoto

Date

Merging/splitting-up project:

05/12/1996

 

Verde

Splitting-up and tranfer from the company

 

VuotoInnse Cilindri S.r.l.

 

Vuoto

Attilio Franchi

, 20

, 25127

, Brescia

(BS)

- IT -

 

Vuoto

Fiscal Code: 03052100108

 

Vuoto

Date

Splitting-up:

18/11/1997

 

 

Protests

 

Protests checking on the subject firm has given a negative result.



Data Base Prejudicial Events Search

 

Search performed on a National Scale

 

Verde

Prejudicial Events Search Result: NEGATIVE

 

Search performed on a specialized data base.



Legal Procedures

 

In the name of the firm we report the following events:

 

The company is insolvent. since 05/03/2015

 

Controlled administration since 20/02/2015

 

  

Communications linked to procedures

 

-

 


Financial Data

 

Verde

Complete balance-sheet for the year

al 31/12/2012

(in Eur

x 1)

 

Item Type

Value

Sales

55.537.250

Profit (Loss) for the period

5.482.827

 

Verde

Complete balance-sheet for the year

al 31/12/2011

(in Eur

x 1)

 

Item Type

Value

Sales

74.983.037

Profit (Loss) for the period

11.697.660

 

Verde

Complete balance-sheet for the year

al 31/12/2010

(in Eur

x 1)

 

Item Type

Value

Sales

79.922.308

Profit (Loss) for the period

7.401.838

 

Verde

Complete balance-sheet for the year

al 31/12/2009

(in Eur

x 1)

 

Item Type

Value

Sales

73.022.361

Profit (Loss) for the period

15.920.193

 

Verde

Complete balance-sheet for the year

al 31/12/2008

(in Eur

x 1)

 

Item Type

Value

Sales

88.239.563

Profit (Loss) for the period

12.484.822

 

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 31/12/2012 - 12 Mesi - Currency: - Amounts x 1

 

- Balance Sheet as at 31/12/2011 - 12 Mesi - Currency: - Amounts x 1

 

- Balance Sheet as at 31/12/2010 - 12 Mesi - Currency: - Amounts x 1

 

Years

2012

2011

2010

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

933

805

4.044

. . Concessions,licenses,trademarks,etc.

. . Goodwill

. . Assets in formation and advance paymen.

16.000

16.000

16.000

. . Other intangible fixed assets

. Total Intangible Fixed Assets

16.933

16.805

20.044

. TANGIBLE FIXED ASSETS

. . Real estate

4.528.206

4.674.053

4.646.520

. . Plant and machinery

4.710.478

6.017.451

6.904.657

. . Industrial and commercial equipment

1.098.601

847.836

1.860.840

. . Other assets

31.425

39.750

74.793

. . Assets under construction and advances

73.000

58.364

. Total Tangible fixed assets

10.368.710

11.652.090

13.545.174

. FINANCIAL FIXED ASSETS

. . Equity investments

6.790

6.790

6.790

. . . Equity invest. in subsidiary companies

. . . Equity invest. in associated companies

6.691

6.691

. . . Equity invest. in holding companies

. . . Equity invest. in other companies

6.790

99

99

. . Financial receivables

9.223

3.603

2.903

. . . . Within 12 months

9.223

3.603

. . . . Beyond 12 months

2.903

. . . 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

9.223

3.603

2.903

. . . . Within 12 months

9.223

3.603

. . . . Beyond 12 months

2.903

. . Other securities

. . Own shares

. . . Total nominal value

. Total financial fixed assets

16.013

10.393

9.693

Total fixed assets

10.401.656

11.679.288

13.574.911

CURRENT ASSETS

. INVENTORIES

. . Raw materials and other consumables

6.294.945

5.516.888

5.129.975

. . Work in progress and semimanufactured

10.525.331

10.860.193

14.167.939

. . Work in progress on order

. . Finished goods

6.745.266

5.228.156

6.443.341

. . Advance payments

. Total Inventories

23.565.542

21.605.237

25.741.255

. CREDITS NOT HELD AS FIXED ASSETS

. . Within 12 months

9.643.064

48.537.354

32.124.305

. . Beyond 12 months

203.370

. . Trade receivables

5.195.431

9.860.998

12.819.799

. . . . Within 12 months

5.195.431

9.860.998

12.819.799

. . . . Beyond 12 months

. . Receivables due from subsid. comp.

. . . . Within 12 months

. . . . Beyond 12 months

. . Receivables due from assoc. comp.

1.249.036

519.397

. . . . Within 12 months

1.249.036

519.397

. . . . Beyond 12 months

. . Receivables due from holding comp.

3.544.117

37.321.405

18.432.750

. . . . Within 12 months

3.544.117

37.321.405

18.432.750

. . . . Beyond 12 months

. . Fiscal Receivables

427.794

92.778

58.061

. . . . Within 12 months

427.794

92.778

58.061

. . . . Beyond 12 months

. . Receivables for anticipated taxes

203.370

. . . . Within 12 months

. . . . Beyond 12 months

203.370

. . Receivables due from third parties

475.722

13.137

294.298

. . . . Within 12 months

475.722

13.137

294.298

. . . . Beyond 12 months

. Total Credits not held as fixed assets

9.846.434

48.537.354

32.124.305

. 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

68.252

341.389

. . Checks

. . Banknotes and coins

1.082

643

1.089

. Total Liquid funds

69.334

643

342.478

Total current assets

33.481.310

70.143.234

58.208.038

ADJUSTMENT ACCOUNTS

. Discount on loans

25.665

. Other adjustment accounts

22.432

26.799

Total adjustments accounts

25.665

22.432

26.799

TOTAL ASSETS

43.908.631

81.844.954

71.809.748

LIABILITIES

STOCKHOLDERS' EQUITY

. Capital stock

790.400

790.400

790.400

. Additional paid-in capital

. Revaluation reserves

. Legal reserve

158.080

158.080

158.080

. Reserve for Own shares

. Statute reserves

. Other reserves

2.960.943

6.549.372

6.521.566

. Accumulated Profits (Losses)

23.397.520

46.111.430

38.737.400

. Profit( loss) of the year

5.482.827

11.697.660

7.401.838

. Advances on dividends

. Partial loss of the year Coverage

Total Stockholders'Equity

32.789.770

65.306.942

53.609.284

RESERVES FOR RISKS AND CHARGES

. . Reserve for employee termination indem.

. . Taxation fund, also differed

5.375

15.866

67.430

. . Other funds

561.000

511.000

611.000

Total Reserves for Risks and Charges

566.375

526.866

678.430

Employee termination indemnities

1.166.810

1.236.389

1.330.051

ACCOUNTS PAYABLE

. . . . Within 12 months

9.385.676

14.774.757

16.191.983

. . . . Beyond 12 months

. . 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

194

315

162

. . . . Within 12 months

194

315

162

. . . . Beyond 12 months

. . Due to other providers of finance

. . . . Within 12 months

. . . . Beyond 12 months

. . Advances from customers

. . . . Within 12 months

. . . . Beyond 12 months

. . Trade payables

2.522.662

4.552.372

5.270.922

. . . . Within 12 months

2.522.662

4.552.372

5.270.922

. . . . 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

3.563.363

3.955.410

. . . . Within 12 months

3.563.363

3.955.410

. . . . Beyond 12 months

. . Due to holding companies

2.740.038

5.341.377

5.668.842

. . . . Within 12 months

2.740.038

5.341.377

5.668.842

. . . . Beyond 12 months

. . Due to the tax authorities

153.049

147.735

226.065

. . . . Within 12 months

153.049

147.735

226.065

. . . . Beyond 12 months

. . Due to social security and welfare inst.

49.022

201.458

64.766

. . . . Within 12 months

49.022

201.458

64.766

. . . . Beyond 12 months

. . Other payables

3.920.711

968.137

1.005.816

. . . . Within 12 months

3.920.711

968.137

1.005.816

. . . . Beyond 12 months

Total accounts payable

9.385.676

14.774.757

16.191.983

ADJUSTMENT ACCOUNTS

. Agio on loans

. Other adjustment accounts

Total adjustment accounts

TOTAL LIABILITIES

43.908.631

81.844.954

71.809.748

 

 

 

 

 

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

55.537.250

74.980.162

79.917.151

. Changes in work in progress

1.182.248

-4.522.931

-2.219.534

. Changes in semi-manufact. products

. Capitalization of internal work

. Other income and revenues

1.303.096

1.812.861

1.255.870

. . Contributions for operating expenses

10.316

. . Different income and revenues

1.303.096

1.802.545

1.255.870

Total value of production

58.022.594

72.270.092

78.953.487

PRODUCTION COSTS

. Raw material,other materials and consum.

22.184.401

24.198.174

24.415.779

. Services received

. Leases and rentals

19.808.652

21.529.715

26.129.450

. Payroll and related costs

6.177.699

6.424.533

6.442.765

. . Wages and salaries

4.304.457

4.445.485

4.471.001

. . Social security contributions

1.488.298

1.559.685

1.582.770

. . Employee termination indemnities

355.039

380.597

359.362

. . Pension and similar

. . Other costs

29.905

38.766

29.632

. Amortization and depreciation

2.513.939

3.058.280

3.671.257

. . Amortization of intangible fixed assets

1.272

3.238

3.238

. . Amortization of tangible fixed assets

2.512.667

3.055.042

3.668.019

. . Depreciation of tangible fixed assets

. . Writedown of current receiv.and of liquid

. Changes in raw materials

-778.057

-386.914

47.231

. Provisions to risk reserves

397.000

352.000

321.000

. Other provisions

. Other operating costs

226.946

143.522

133.705

Total production costs

50.530.580

55.319.310

61.161.187

Diff. between value and cost of product.

7.492.014

16.950.782

17.792.300

FINANCIAL INCOME AND EXPENSE

. Income from equity investments

. . In subsidiary companies

. . In associated companies

. . In other companies

. Other financial income

235.323

374.126

123.718

. . Financ.income from receivables

. . . Towards subsidiary companies

. . . Towards associated companies

. . . Towards holding companies

. . . Towards other companies

. . Financ.income from secur. t.f.assets

7.044

. . Financ.income from secur. cur.assets

. . Financ.income other than the above

235.323

374.126

116.674

. . . - Subsidiary companies

. . . - Associated companies

. . . - Holding companies

234.800

. . . - Other companies

523

86.550

75.017

. Interest and other financial expense

22.524

. . Towards subsidiary companies

. . Towards associated companies

. . Towards holding companies

. . Towards other companies

-22.524

Total financial income and expense

257.847

374.126

123.718

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

616.171

. . Gains on disposals

. . Other extraordinary income

616.171

. Extraordinary expense

-521.200

. . Losses on disposals

. . Taxes relating to prior years

. . Other extraordinary expense

-521.200

Total extraordinary income and expense

94.971

-61.382

-4.747.349

Results before income taxes

7.844.832

17.263.526

13.168.669

. Taxes on current income

2.362.005

5.565.866

5.766.831

. . current taxes

2.560.000

5.550.000

5.800.000

. . differed taxes(anticip.)

-197.995

15.866

-33.169

. Net income for the period

5.482.827

11.697.660

7.401.838

. Adjustments in tax regulations pursuance

. Provisions in tax regulations pursuance

. Profit (loss) of the year

5.482.827

11.697.660

7.401.838

 

RATIOS

Value Type

as at 31/12/2012

as at 31/12/2011

as at 31/12/2010

Sector Average

COMPOSITION ON INVESTMENT

Rigidity Ratio

Units

0,24

0,14

0,19

0,35

Elasticity Ratio

Units

0,76

0,86

0,81

0,64

Availability of stock

Units

0,54

0,26

0,36

0,15

Total Liquidity Ratio

Units

0,23

0,59

0,45

0,43

Quick Ratio

Units

0,00

0,00

0,00

0,02

COMPOSITION ON SOURCE

Net Short-term indebtedness

Units

0,28

0,23

0,30

1,86

Self Financing Ratio

Units

0,75

0,80

0,75

0,27

Capital protection Ratio

Units

0,81

0,81

0,85

0,75

Liabilities consolidation quotient

Units

0,12

0,08

0,08

0,22

Financing

Units

0,29

0,23

0,30

2,35

Permanent Indebtedness Ratio

Units

0,77

0,81

0,77

0,43

M/L term Debts Ratio

Units

0,03

0,02

0,02

0,12

Net Financial Indebtedness Ratio

Units

0,00

0,00

0,00

0,91

CORRELATION

Fixed assets ratio

Units

3,26

5,70

4,05

1,11

Current ratio

Units

3,57

4,75

3,59

1,06

Acid Test Ratio-Liquidity Ratio

Units

1,06

3,29

2,01

0,77

Structure's primary quotient

Units

3,15

5,59

3,95

0,83

Treasury's primary quotient

Units

0,01

0,00

0,02

0,03

Rate of indebtedness ( Leverage )

%

133,91

125,32

133,95

360,10

Current Capital ( net )

Value

24.095.634

55.368.477

42.016.055

408.634

RETURN

Return on Sales

%

14,40

19,68

13,85

3,40

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

%

16,72

17,91

13,81

2,16

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

%

23,92

26,43

24,56

8,08

Return on Investment ( R.O.I. )

%

17,06

20,71

24,78

3,84

Return/ Sales

%

13,49

22,61

22,26

2,98

Extra Management revenues/charges incid.

%

73,18

69,01

41,60

25,99

Cash Flow

Value

7.996.766

14.755.940

11.073.095

328.591

Operating Profit

Value

7.492.014

16.950.782

17.792.300

295.822

Gross Operating Margin

Value

10.402.953

20.361.062

21.784.557

749.380

MANAGEMENT

Credits to clients average term

Days

33,68

47,34

57,75

98,28

Debts to suppliers average term

Days

45,12

105,94

106,09

123,62

Average stock waiting period

Days

152,76

103,73

115,95

49,03

Rate of capital employed return ( Turnover )

Units

1,26

0,92

1,11

1,10

Rate of stock return

Units

2,36

3,47

3,10

7,33

Labour cost incidence

%

11,12

8,57

8,06

17,85

Net financial revenues/ charges incidence

%

0,46

0,50

0,15

-1,52

Labour cost on purchasing expenses

%

12,23

11,61

10,53

17,84

Short-term financing charges

%

n.c.

n.c.

n.c.

3,12

Capital on hand

%

79,06

109,15

89,85

90,42

Sales pro employee

Value

287.757

374.915

397.623

223.268

Labour cost pro employee

Value

32.008

32.122

32.053

40.069

 

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

:

Spazio3.839.216

Population living in the region

:

Spazio9.393.092

Number of families in the region

:

Spazio3.858.736

 

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

 

- per food products

:

Spazio460

- per non food products

:

Spazio2.090

- per energy consume

:

Spazio114

 

Sector Data

 

The values are calculated on a base of 480 significant companies.

The companies cash their credits on an average of 98 dd.

The average duration of suppliers debts is about 124 dd.

The sector's profitability is on an average of 3,40%.

The labour cost affects the turnover in the measure of 17,85%.

Goods are held in stock in a range of 49 dd.

The difference between the sales volume and the resources used to realize it is about 1,10.

The employees costs represent the 17,84% of the production costs.



Statistical Detrimental Data

 

Statistically the trade activity shows periods of crisis.

The area is statistically considered lowly risky.

In the region 50.886 protested subjects are found; in the province they count to 24.765.

The insolvency index for the region is 0,55, , while for the province it is 0,66.

Total Bankrupt companies in the province : 22.523.

Total Bankrupt companies in the region : 39.612.


 

 

FOREIGN EXCHANGE RATES

 

Currency

Unit

Indian Rupees

US Dollar

1

Rs.66.65

UK Pound

1

Rs.99.61

Euro

1

Rs.72.33

ITL

1

Rs.71.75

 

Note : Above are approximate rates obtained from sources believed to be correct

 

 

INFORMATION DETAILS

 

Analysis Done by :

HEE

 

 

Report Prepared by :

TPT

 


               

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.