MIRA INFORM REPORT
|
Report No. : |
355043 |
|
Report Date : |
21.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
NASTRITESSUTI S.R.L. |
|
|
|
|
Registered Office : |
Via Del Progresso,42 36035 - Marano
Vicentino (VI) -IT- |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
01.09.1997 |
|
|
|
|
Legal Form : |
Limited liability company |
|
|
|
|
Line of Business : |
Manufacture of textile ribbons, labels and braidings |
|
|
|
|
Employees: |
from 11 to 15 |
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 : |
EUR 45.000 |
|
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 |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
ITALY - ECONOMIC OVERVIEW
Italy has a diversified 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
NASTRITESSUTI S.R.L.
Via Del Progresso, 42
36035 - Marano
Vicentino (VI) -IT-
Summary
|
Fiscal Code |
: |
02410220244 |
|
Legal Form |
: |
Limited liability company |
|
start of Activities |
: |
01/09/1997 |
|
Equity |
: |
750.000 |
|
Turnover Range |
: |
1.500.000/2.000.000 |
|
Number of Employees |
: |
from 11 to 15 |
Credit
Analysis
|
Credit Opinion |
: |
45.000 - |
Activity
Manufacture of textile ribbons, labels and braidings
Legal
Data
Legal Form : Limited liability company
|
Fiscal Code : 02410220244 |
|
Chamber of Commerce no. : 228920 of Vicenza since 10/06/1994 |
|
Firms' Register : 30872 of Vicenza |
|
V.A.T. Code : 02410220244 |
|
Establishment date |
: 05/05/1994 |
|
|
Start of Activities |
: 01/09/1997 |
|
|
Legal duration |
: 31/12/2020 |
|
|
Nominal Capital |
: 32.000 |
|
|
Subscribed Capital |
: 32.000 |
|
|
Paid up Capital |
: 32.000 |
|
Legal mail : |
NASTRITESSUTI@PEC.IT |
Members
|
|
Turcato |
Alfredo |
|
|
Born in Marano Vicentino |
(VI) |
on 15/03/1934 |
- Fiscal Code : TRCLRD34C15E912P |
|
|
Residence: |
Santa Lucia |
, 30 |
- 36035 |
Marano Vicentino |
(VI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Institor |
10/02/2006 |
||
|
Director |
29/06/2011 |
||
|
Board Chairman |
06/12/2013 |
||
|
Managing Director |
06/12/2013 |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Turcato |
Lorenzo |
|
|
Born in Thiene |
(VI) |
on 10/08/1965 |
- Fiscal Code : TRCLNZ65M10L157J |
|
|
Residence: |
Santa Lucia |
, 30 |
- 36035 |
Marano Vicentino |
(VI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
29/06/2011 |
||
|
Managing Director |
06/12/2013 |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Turcato Cinzia |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Partner |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
Companies
connected to members *
*checkings have been performed on a national scale.
In this module are listed the companies in which members hold or have
holded positions.
|
|
Turcato |
Lorenzo |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Turcato Immobiliare S.a.s. Di Turcato Alfredo E C. |
Marano Vicentino (VI) - IT - |
03252260249 |
Limited Partner |
Active |
Registered |
The indication "REGISTERED" as Firm Status could refer to
Firms in Liquidation, Active, Inactive, etc.
For more information, in this case, we advise to request further investigations.
Capital
Shareholders
Shareholders' list
as at date of data collection:
|
Firm's Style /
Name |
Seat / Residence |
Fiscal Code |
Owned Shares |
% Ownership |
|
Turcato Alfredo |
Marano Vicentino - IT - |
TRCLRD34C15E912P |
6.400 .Eur |
20,00 |
|
Turcato Lorenzo |
Marano Vicentino - IT - |
TRCLNZ65M10L157J |
13.000 .Eur |
40,62 |
|
Turcato Cinzia |
TRCCNZ62E68L157L |
10.600 .Eur |
33,12 |
|
|
Turcato Immobiliare S.a.s. Di Turcato Al fredo E C. |
Marano Vicentino - IT - |
03252260249 |
2.000 .Eur |
6,25 |
Direct
Participations
The Company under review has no participations in other Companies.
Firm's
location and structure
In order to carry out its activities the firm uses the following
locations:
|
- |
Legal and operative seat |
|
Del Progresso |
, 42 |
- 36035 |
- Marano Vicentino |
(VI) |
- IT - |
|
Legal mail |
: NASTRITESSUTI@PEC.IT |
|
Employees |
: 13 |
|
Fittings and Equipment for a value of 110.000 |
Eur |
|
Stocks for a value of 360.000 |
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
Subject is active since 1997
Balance sheets for the years 2012, 2013 and 2014 were analyzed.
In the economic management , good and bad results followed on by turns.
yet with a positive result in the 2014 (r.o.e. 0,45%). The turnover is growing
in the last financial year (+11,93%).
The return on Investment in the last financial year was positive (2,56%)
falling within the field's average.
The amount of the operating result is equal to Eur. 51.353 , with no
sizeable change as opposed to the year before.
The gross operating margin of the latest financial year is of Eur.
126.824 , stable if compared to the year before.
The analysis shows a fair financial position as the indebtedness volume
is acceptable (2,29) and decreasing as against 2013.
The equity capital is equal to Eur. 528.483 on stable levels.
Financial indebtedness is considered fair whereas the recourse to
commercial borrowings is high even in comparison with the sector's.
Liquid assets are not adequate to subject's needs.
Due from customers average term is high and equal to 154,36 days. and
higher than the average of the sector.
2014 financial year closed with a cash flow of Eur. 77.869
Subordinate employment cost is of Eur. 441.640, i.e. 28,46% on total
production costs. and a 27,54% incidence on sales volumes.
High incidence of financial charges on turnover.
Financial
Data
|
|
Complete balance-sheet for the year |
al 31/12/2014 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
1.603.730 |
|
Profit (Loss) for the period |
2.398 |
|
|
Complete balance-sheet for the year |
al 31/12/2013 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
1.432.769 |
|
Profit (Loss) for the period |
1.400 |
|
|
Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
1.412.289 |
|
Profit (Loss) for the period |
-30.024 |
|
|
Complete balance-sheet for the year |
al 31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
2.073.242 |
|
Profit (Loss) for the period |
-27.902 |
|
|
Complete balance-sheet for the year |
al 31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
1.983.490 |
|
Profit (Loss) for the period |
15.140 |
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 31/12/2014 - 12 Mesi - Currency: - Amounts x 1 |
|
- 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 |
|
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PROFIT
AND LOSS ACCOUNTS
|
|
RATIOS |
Value Type |
as at 31/12/2014 |
as at 31/12/2013 |
as at 31/12/2012 |
Sector Average |
|
COMPOSITION ON INVESTMENT |
|||||
|
Rigidity Ratio |
Units |
0,45 |
0,49 |
0,57 |
0,24 |
|
Elasticity Ratio |
Units |
0,54 |
0,50 |
0,42 |
0,72 |
|
Availability of stock |
Units |
0,18 |
0,17 |
0,14 |
0,19 |
|
Total Liquidity Ratio |
Units |
0,36 |
0,34 |
0,28 |
0,45 |
|
Quick Ratio |
Units |
0,00 |
0,00 |
0,00 |
0,02 |
|
COMPOSITION ON SOURCE |
|||||
|
Net Short-term indebtedness |
Units |
2,29 |
2,33 |
1,85 |
1,93 |
|
Self Financing Ratio |
Units |
0,26 |
0,26 |
0,30 |
0,25 |
|
Capital protection Ratio |
Units |
0,93 |
0,94 |
1,00 |
0,71 |
|
Liabilities consolidation quotient |
Units |
0,17 |
0,16 |
0,19 |
0,23 |
|
Financing |
Units |
2,30 |
2,33 |
1,86 |
2,69 |
|
Permanent Indebtedness Ratio |
Units |
0,37 |
0,36 |
0,41 |
0,42 |
|
M/L term Debts Ratio |
Units |
0,10 |
0,10 |
0,11 |
0,10 |
|
Net Financial Indebtedness Ratio |
Units |
1,22 |
n.c. |
n.c. |
1,12 |
|
CORRELATION |
|||||
|
Fixed assets ratio |
Units |
0,81 |
0,74 |
0,71 |
1,56 |
|
Current ratio |
Units |
0,89 |
0,82 |
0,75 |
1,24 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
0,59 |
0,55 |
0,50 |
0,87 |
|
Structure's primary quotient |
Units |
0,58 |
0,54 |
0,53 |
1,01 |
|
Treasury's primary quotient |
Units |
0,01 |
0,00 |
0,00 |
0,04 |
|
Rate of indebtedness ( Leverage ) |
% |
379,06 |
378,68 |
330,05 |
407,34 |
|
Current Capital ( net ) |
Value |
-131.317 |
-226.045 |
-259.653 |
387.489 |
|
RETURN |
|||||
|
Return on Sales |
% |
4,86 |
5,90 |
5,62 |
2,88 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
0,45 |
0,27 |
-5,38 |
2,51 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
4,35 |
5,52 |
-4,40 |
9,26 |
|
Return on Investment ( R.O.I. ) |
% |
2,56 |
2,91 |
-1,29 |
3,77 |
|
Return/ Sales |
% |
3,20 |
4,04 |
-1,68 |
3,77 |
|
Extra Management revenues/charges incid. |
% |
4,67 |
2,42 |
n.c. |
21,16 |
|
Cash Flow |
Value |
77.869 |
84.604 |
79.388 |
79.355 |
|
Operating Profit |
Value |
51.353 |
57.877 |
-23.673 |
112.730 |
|
Gross Operating Margin |
Value |
126.824 |
141.081 |
85.739 |
210.674 |
|
MANAGEMENT |
|||||
|
Credits to clients average term |
Days |
154,36 |
n.c. |
n.c. |
117,72 |
|
Debts to suppliers average term |
Days |
159,08 |
n.c. |
n.c. |
111,36 |
|
Average stock waiting period |
Days |
81,93 |
83,25 |
64,69 |
76,26 |
|
Rate of capital employed return ( Turnover ) |
Units |
0,80 |
0,72 |
0,77 |
1,01 |
|
Rate of stock return |
Units |
4,39 |
4,32 |
5,57 |
4,65 |
|
Labour cost incidence |
% |
27,54 |
25,60 |
31,61 |
14,67 |
|
Net financial revenues/ charges incidence |
% |
-1,77 |
-2,01 |
-2,07 |
-1,77 |
|
Labour cost on purchasing expenses |
% |
28,46 |
26,29 |
30,77 |
14,77 |
|
Short-term financing charges |
% |
2,33 |
2,37 |
2,90 |
3,20 |
|
Capital on hand |
% |
124,91 |
139,05 |
130,42 |
98,20 |
|
Sales pro employee |
Value |
123.363 |
130.251 |
108.637 |
213.243 |
|
Labour cost pro employee |
Value |
33.972 |
33.342 |
34.345 |
32.119 |
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 1.146 significant companies.
The companies cash their credits on an average of 118 dd.
The average duration of suppliers debts is about 111 dd.
The sector's profitability is on an average of 2,88%.
The labour cost affects the turnover in the measure of 14,67%.
Goods are held in stock in a range of 76 dd.
The difference between the sales volume and the resources used to
realize it is about 1,01.
The employees costs represent the 14,77% of the production costs.
Statistical
Detrimental Data
Statistically the trade activity passes through serious crises.
The area is statistically considered lowly risky.
In the region 13.782 protested subjects are found; in the province they
count to 2.234.
The insolvency index for the region is 0,30, , while for the province it
is 0,27.
Total Bankrupt companies in the province : 2.546.
Total Bankrupt companies in the region : 16.714.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.65 |
|
|
1 |
Rs.99.61 |
|
Euro |
1 |
Rs.72.33 |
|
EUR |
1 |
Rs.72.07 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
HEE |
|
|
|
|
Report Prepared
by : |
SDA |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall
operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This score serves as a reference to assess SC’s
credit risk and to set the amount of credit to be extended. It is calculated
from a composite of weighted scores obtained from each of the major sections of
this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.