MIRA INFORM REPORT

 

 

Report No. :

355455

Report Date :

21.12.2015

 

IDENTIFICATION DETAILS

 

Name :

NORDMECCANICA S.P.A.

 

 

Registered Office :

Via Orsina 16, 16A 16B,

29122 – Piacenza (PC)  

 

 

Country :

Italy

 

 

Financials (as on) :

31.12.2014

 

 

Date of Incorporation :

12.10.1978

 

 

Legal Form :

Joint Stock Company

 

 

Line of Business :

·         General Mechanics.

·         Manufacture of Machinery and Equipment n.e.c.

 

 

No. of Employees :

From 176 to 200

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Aa

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

 

 

Status :

Excellent 

 

 

Payment Behaviour :

Regular

 

 

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

 

NORDMECCANICA S.P.A.

 

Via Orsina 16, 16A 16B

 

29122 - Piacenza (PC) -IT-

 

 

Summary

 

Fiscal Code

:

00333340339

Legal Form

:

Joint stock company

start of Activities

:

28/04/1980

Equity

:

Over 2.582.254

Turnover Range

:

50.000.000/75.000.000

Number of Employees

:

from 176 to 200

 

 

Activity

 

General mechanics

MANUFACTURE OF MACHINERY AND EQUIPMENT N.E.C.

 

 

Legal Data

 

Legal Form : Joint stock company

Fiscal Code : 00333340339

 

Foreign Trade Reg. no. : PC004092 since 14/01/1992

 

Chamber of Commerce no. : 99115 of Piacenza since 30/10/1978

 

Firms' Register : PC032-4868 of Piacenza since 19/02/1996

 

V.A.T. Code : 00333340339

 

Establishment date

: 12/10/1978

Start of Activities

: 28/04/1980

Legal duration

: 31/12/2030

Nominal Capital

: 5.450.000

Subscribed Capital

: 5.000.000

Paid up Capital

: 5.000.000

 

Legal mail :

NORDMECCANICA@PEC.NORDMECCANICA.COM

 

 

Members

 

Cerciello

Antonio

 

Born in Marigliano

(NA)

on 01/01/1940

- Fiscal Code : CRCNTN40A01E955Q

 

Residence:

Matteotti

, 16

- 29121

Piacenza

(PC)

- IT -

 

Position

Since

Shares Amount

% Ownership

Director

30/04/2013

Board Chairman

30/04/2013

Managing Director

30/04/2013

 

Legal Mortgage - 14/03/2006. - 3.212 Euro. Event writing-off

  GEST LINE SPA

 

No Protests registered

 

Cerciello

Vincenzo

 

Born in Napoli

(NA)

on 08/11/1975

- Fiscal Code : CRCVCN75S08F839L

 

Residence:

Chiapponi

, 20

- 29121

Piacenza

(PC)

- IT -

 

Position

Since

Shares Amount

% Ownership

Director

30/04/2013

Managing Director

30/04/2013

 

No Prejudicial events are reported

 

No Protests registered

 

Cerciello

Alfredo

 

Born in Napoli

(NA)

on 15/10/1977

- Fiscal Code : CRCLRD77R15F839N

 

Residence:

Mandelli

, 4

- 29121

Piacenza

(PC)

- IT -

 

Position

Since

Shares Amount

% Ownership

Attorney with special power

07/04/2003

Director

30/04/2013

Managing Director

30/04/2013

 

No Prejudicial events are reported

 

No Protests registered

 

Faziotti

Marika

 

Born in Piacenza

(PC)

on 04/09/1974

- Fiscal Code : FZTMRK74P44G535Y

 

Residence:

Breda

, 27

- 29010

Monticelli d'Ongina

(PC)

- IT -

 

Position

Since

Shares Amount

% Ownership

Attorney with special power

10/04/2008

 

No Prejudicial events are reported

 

No Protests registered

 

Ginanneschi

Fabio

 

Born in Piacenza

(PC)

on 06/02/1958

- Fiscal Code : GNNFBA58B06G535U

 

Residence:

Einstein Int. 2

, 7

- 29010

Monticelli d'Ongina

(PC)

- IT -

 

Position

Since

Shares Amount

% Ownership

Attorney with special power

10/04/2008

 

No Prejudicial events are reported

 

No Protests registered

 

Cerfin S.p.a.

 

 

:

Dell'orsina

, 16

- 29122

Piacenza

(PC)

- IT -

 

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.

 

Cerciello

Antonio

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

Nordtec Srl

Piacenza (PC) - IT -

00189160336

Sole Director

Withdrawn

Ceased

Nordtec Srl

Piacenza (PC) - IT -

00189160336

Attorney with special power

Withdrawn

Ceased

Cmf Omat Srl

Piacenza (PC) - IT -

01322680065

Sole Director

Withdrawn

Ceased

P.p. S.r.l. Promotion Packaging

Marigliano (NA) - IT -

04482250638

Sole Director

Withdrawn

Ceased

P.p. S.r.l. Promotion Packaging

Marigliano (NA) - IT -

04482250638

Liquidator

Withdrawn

Ceased

Tecnologie E Sistemi Per L'automazione *Tesy S.r.l.

Piacenza (PC) - IT -

00927060335

Attorney with special power

Withdrawn

Ceased

Tsi S.r.l.

Piacenza (PC) - IT -

01136540331

Sole Director

Withdrawn

Ceased

Samp Srl

Milano (MI) - IT -

01532630173

Sole Director

Withdrawn

Ceased

Comif - S.p.a. Costruzione Macchine Imballaggio Flessibile -

Fisciano (SA) - IT -

00296340656

Chairman

Active

Registered

Power S.r.l.

Piacenza (PC) - IT -

01305850339

Attorney with special power

Withdrawn

Ceased

Cerfin S.p.a.

Piacenza (PC) - IT -

01568980336

Sole Director

Active

Registered

Nordmeccanica Vacuum Societa' A ResponsaBilita' Limitata Enunciabile Anche Nordm

Piacenza (PC) - IT -

01633500333

Sole Director

Withdrawn

Registered

 

Cerciello

Vincenzo

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

River Volley Societa' Sportiva Dilettantistica A Responsabilita' Limitata

Piacenza (PC) - IT -

01381470333

Sole Director

Active

Registered

Ristorland S.r.l.

Piacenza (PC) - IT -

01456690336

Director

Withdrawn

Registered

Ristorland S.r.l.

Piacenza (PC) - IT -

01456690336

Managing Director

Withdrawn

Registered

Copra Volley Piacenza S.r.l. Societa' Sportiva Dilettantistica

Piacenza (PC) - IT -

01377030331

Director

Withdrawn

Registered

Copra Volley Piacenza S.r.l. Societa' Sportiva Dilettantistica

Piacenza (PC) - IT -

01377030331

Assistant board Chairman

Withdrawn

Registered

 

Cerciello

Alfredo

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

Nordtec Srl

Piacenza (PC) - IT -

00189160336

Sole Director

Withdrawn

Ceased

Nordtec Srl

Piacenza (PC) - IT -

00189160336

Attorney with special power

Withdrawn

Ceased

Cmf Omat Srl

Piacenza (PC) - IT -

01322680065

Attorney with special power

Withdrawn

Ceased

Tecnologie E Sistemi Per L'automazione *Tesy S.r.l.

Piacenza (PC) - IT -

00927060335

Sole Director

Withdrawn

Ceased

Power S.r.l.

Piacenza (PC) - IT -

01305850339

Sole Director

Withdrawn

Ceased

River Volley Societa' Sportiva Dilettantistica A Responsabilita' Limitata

Piacenza (PC) - IT -

01381470333

Institor

Active

Registered

Copra Volley Piacenza S.r.l. Societa' Sportiva Dilettantistica

Piacenza (PC) - IT -

01377030331

Director

Withdrawn

Registered

Nordmeccanica Vacuum Societa' A ResponsaBilita' Limitata Enunciabile Anche Nordm

Piacenza (PC) - IT -

01633500333

Attorney with special power

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

Cerciello Alfredo

Piacenza - IT -

CRCLRD77R15F839N

5.000 .Eur

0,10

Cerfin S.p.a.

Piacenza - IT -

01568980336

4.995.000 .Eur

99,90

 

 

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

Nordmeccanica Vacuum Societa' A Responsa Bilita' Limitata Enunciabile Anche Nordm

Piacenza - IT -

01633500333

100,00

Active



Firm's location and structure

 

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

 

-

Legal and operative seat

(Factory)

since 08/05/1980

 

Orsina 16

, 16A 16B

- 29100

- Piacenza

(PC)

- IT -

 

PHONE

: 0523596411

 

FAX

: 0523612051

 

Legal mail

: NORDMECCANICA@PEC.NORDMECCANICA.COM

 

-

Branch

(Factory)

since 12/10/2004

 

I^ Maggio

, 91/93

- 29027

- Podenzano

(PC)

- IT -

 

Employees

: 198

 

Fittings and Equipment for a value of 580.000

Eur

 

Stocks for a value of 12.730.000

Eur

 

Furniture and fittings for a value of 36.000

Eur

 

Vehicles for a value of 100.000

Eur

 

The firm has a direct commercial organization

Sales are mainly addressed to Northern Italy

The firm operates abroad as importer / exporter..

To purchase foreign products the firm uses the following channels :

- national or foreign important buyers

 

- direct orders to foreign companies

Export represents from 20% to 50% of the global turnover.

Products abroad are placed by :

- its own sales net-work

 

- its own agents

 

- direct orders from foreign companies

 

Import comes generally from the following nations:

- Great Britain

 

- France

 

 

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

18/03/1981

 

CEASINGS/INCORPORATIONS/MERGES:

 

The firm absorved

 

Nordtec Srl

 

Dell'orsina

, 16

, 29100

, Piacenza

(PC)

- IT -

 

Fiscal Code: 00189160336

 

Date

:

14/12/2004

 

The firm absorved

 

Tecnologie E Sistemi Per L'automazione *Tesy S.r.l.

 

Bresciani

, 7

, 29100

, Piacenza

(PC)

- IT -

 

Fiscal Code: 00927060335

 

Date

:

14/12/2004

 

The firm absorved

 

Power S.r.l.

 

Dell'orsina

, 16

, 29100

, Piacenza

(PC)

- IT -

 

Fiscal Code: 01305850339

 

Date

:

14/12/2004

 

The firm absorved

 

Tsi S.r.l.

 

Orsina

, 16

, 29100

, Piacenza

(PC)

- IT -

 

Fiscal Code: 01136540331

 

Date

:

14/12/2004

 

Project of merging by taking over of

 

Power S.r.l.

 

Dell'orsina

, 16

, 29100

, Piacenza

(PC)

- IT -

 

Fiscal Code: 01305850339

 

Date

Merging/splitting-up project:

25/06/2004

 

The firm absorbed by merging of

 

Power S.r.l.

 

Dell'orsina

, 16

, 29100

, Piacenza

(PC)

- IT -

 

Fiscal Code: 01305850339

 

Date

:

14/12/2004

 

Project of merging by taking over of

 

Nordmeccanica Vacuum Societa' A ResponsaBilita' Limitata Enunciabile Anche Nordm

 

Dell'orsina

, 16

, 29122

, Piacenza

(PC)

- IT -

 

Fiscal Code: 01633500333

 

Date

Merging/splitting-up project:

15/06/2015

 

Resolution of merging of

 

Nordmeccanica Vacuum Societa' A ResponsaBilita' Limitata Enunciabile Anche Nordm

 

Dell'orsina

, 16

, 29122

, Piacenza

(PC)

- IT -

 

Fiscal Code: 01633500333

 

Date

:

03/07/2015



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.

 

 

Bankers

 

The firm operates with:

 

Bank Name

Agency Name

Address

ZIP Code

City

ABI Code

CAB Code

UNICREDIT BANCA SPA

2008

0



Financial and Economical Analysis

 

The company is active since 1980

Balance sheets for the years 2012, 2013 and 2014 were analyzed.

During the last years, it achieved profits (r.o.e. 19,33% on 2014) with a stable trend in the turnover.

The operating result in 2014 was positive (12,08%) falling within the field's average.

The operating result is positive and amounts to Eur. 7.186.973 increasing if compared to the yeart 2013.

The economic management produced a gross operating margin of Eur. 7.855.714 with a 35,47% growth.

Very good financial situation: shareholder's equity covers short-terms debts with an indebtedness level equal to 0,99 lower than in 2013.

Subject can manage an equity capital funds for an amount of Eur. 22.604.957 with a growth of 23,96% in 2014.

In the year 2014 total debts amounted to Eur. 35.378.116 , a more or less stable value.

Moderate recourse to bank credit while the exposure towards suppliers is rather high however still within the sector's average.

It shows a good range of liquidity.

Due from customers average term is high and equal to 105,23 days. , as it normally happens in the sector.

Eur. 5.038.716 is the value of cash flow during the year 2014

Subordinate employment cost is of Eur. 10.659.135, i.e. 15,87% on total production costs. , with a 14,55% incidence on turnover.

Limited financial charges in relation to sales volume.



Financial Data

 

Complete balance-sheet for the year

al 31/12/2014

(in Eur

x 1)

 

Item Type

Value

Sales

73.255.783

Profit (Loss) for the period

4.369.975

 

Complete balance-sheet for the year

al 31/12/2013

(in Eur

x 1)

 

Item Type

Value

Sales

71.809.840

Profit (Loss) for the period

3.072.926

 

Complete balance-sheet for the year

al 31/12/2012

(in Eur

x 1)

 

Item Type

Value

Sales

65.237.900

Profit (Loss) for the period

2.900.924

 

Complete balance-sheet for the year

al 31/12/2011

(in Eur

x 1)

 

Item Type

Value

Sales

57.000.964

Profit (Loss) for the period

4.388.104

 

Complete balance-sheet for the year

al 31/12/2010

(in Eur

x 1)

 

Item Type

Value

Sales

42.477.843

Profit (Loss) for the period

925.955



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

 

Years

2014

2013

2012

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.

35.713

31.352

29.276

. . Industrial patent rights

. . Concessions,licenses,trademarks,etc.

235.047

270.164

328.765

. . Goodwill

. . Assets in formation and advance paymen.

. . Other intangible fixed assets

11.106

15.408

7.200

. Total Intangible Fixed Assets

281.866

316.924

365.241

. TANGIBLE FIXED ASSETS

. . Real estate

4.552.687

4.427.358

4.491.109

. . Plant and machinery

542.140

633.470

263.192

. . Industrial and commercial equipment

41.734

43.550

34.802

. . Other assets

355.438

351.687

232.773

. . Assets under construction and advances

. Total Tangible fixed assets

5.491.999

5.456.065

5.021.876

. FINANCIAL FIXED ASSETS

. . Equity investments

887.267

887.267

401.080

. . . Equity invest. in subsidiary companies

887.267

887.267

401.080

. . . Equity invest. in associated companies

. . . Equity invest. in holding companies

. . . Equity invest. in other companies

. . Financial receivables

546.732

22.065

22.116

. . . . Within 12 months

546.732

22.065

22.116

. . . . Beyond 12 months

. . . Receivab due from subsidiaries

546.732

22.065

22.116

. . . . Within 12 months

546.732

22.065

22.116

. . . . 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

. . . . Within 12 months

. . . . Beyond 12 months

. . Other securities

6.850

6.850

6.850

. . Own shares

. . . Total nominal value

. Total financial fixed assets

1.440.849

916.182

430.046

Total fixed assets

7.214.714

6.689.171

5.817.163

CURRENT ASSETS

. INVENTORIES

. . Raw materials and other consumables

8.793.610

9.527.040

8.344.994

. . Work in progress and semimanufactured

3.154.040

3.319.415

2.813.949

. . Work in progress on order

. . Finished goods

783.829

427.405

125.805

. . Advance payments

. Total Inventories

12.731.479

13.273.860

11.284.748

. CREDITS NOT HELD AS FIXED ASSETS

. . Within 12 months

25.748.127

21.836.851

19.656.934

. . Beyond 12 months

3.323.486

465.482

910.987

. . Trade receivables

21.412.491

12.867.899

11.050.850

. . . . Within 12 months

18.132.757

12.447.439

10.179.305

. . . . Beyond 12 months

3.279.734

420.460

871.545

. . Receivables due from subsid. comp.

4.812.122

6.760.547

4.488.851

. . . . Within 12 months

4.812.122

6.760.547

4.488.851

. . . . 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

. . Fiscal Receivables

2.510.231

2.301.212

4.414.303

. . . . Within 12 months

2.510.231

2.301.212

4.414.303

. . . . Beyond 12 months

. . Receivables for anticipated taxes

454

13.954

10.185

. . . . Within 12 months

454

13.954

10.185

. . . . Beyond 12 months

. . Receivables due from third parties

336.315

358.721

603.732

. . . . Within 12 months

292.563

313.699

564.290

. . . . Beyond 12 months

43.752

45.022

39.442

. Total Credits not held as fixed assets

29.071.613

22.302.333

20.567.921

. 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

9.232.490

8.188.742

5.375.627

. . Checks

. . Banknotes and coins

27.602

14.852

25.285

. Total Liquid funds

9.260.092

8.203.594

5.400.912

Total current assets

51.063.184

43.779.787

37.253.581

ADJUSTMENT ACCOUNTS

. Discount on loans

1.231.538

1.104.227

. Other adjustment accounts

1.208.933

Total adjustments accounts

1.231.538

1.208.933

1.104.227

TOTAL ASSETS

59.509.436

51.677.891

44.174.971

LIABILITIES

STOCKHOLDERS' EQUITY

. Capital stock

5.000.000

5.000.000

5.000.000

. Additional paid-in capital

. Revaluation reserves

53.989

53.989

53.989

. Legal reserve

901.070

747.423

602.377

. Reserve for Own shares

. Statute reserves

. Other reserves

12.279.923

9.360.643

6.724.765

. Accumulated Profits (Losses)

. Profit( loss) of the year

4.369.975

3.072.926

2.900.924

. Advances on dividends

. Partial loss of the year Coverage

Total Stockholders'Equity

22.604.957

18.234.981

15.282.055

RESERVES FOR RISKS AND CHARGES

. . Reserve for employee termination indem.

. . Taxation fund, also differed

17.009

1.106

. . Other funds

450.000

300.000

150.000

Total Reserves for Risks and Charges

467.009

301.106

150.000

Employee termination indemnities

952.972

957.560

1.051.908

ACCOUNTS PAYABLE

. . . . Within 12 months

31.700.288

29.857.507

24.283.761

. . . . Beyond 12 months

3.677.828

2.157.527

3.212.746

. . Bonds

. . . . Within 12 months

. . . . Beyond 12 months

. . Convertible bonds repayable

600.000

600.000

600.000

. . . . Within 12 months

. . . . Beyond 12 months

600.000

600.000

600.000

. . Due to shareholders for financing

. . . . Within 12 months

. . . . Beyond 12 months

. . Due to banks

6.403.605

2.612.723

3.656.096

. . . . Within 12 months

3.325.777

1.055.196

1.043.350

. . . . Beyond 12 months

3.077.828

1.557.527

2.612.746

. . Due to other providers of finance

. . . . Within 12 months

. . . . Beyond 12 months

. . Advances from customers

4.859.745

4.363.920

4.246.607

. . . . Within 12 months

4.859.745

4.363.920

4.246.607

. . . . Beyond 12 months

. . Trade payables

18.877.636

20.250.950

15.715.066

. . . . Within 12 months

18.877.636

20.250.950

15.715.066

. . . . Beyond 12 months

. . Securities issued

. . . . Within 12 months

. . . . Beyond 12 months

. . Due to subsidiary companies

242.900

. . . . Within 12 months

242.900

. . . . Beyond 12 months

. . Due to associated companies

. . . . Within 12 months

. . . . Beyond 12 months

. . Due to holding companies

. . . . Within 12 months

. . . . Beyond 12 months

. . Due to the tax authorities

2.907.903

2.419.165

1.977.194

. . . . Within 12 months

2.907.903

2.419.165

1.977.194

. . . . Beyond 12 months

. . Due to social security and welfare inst.

554.680

510.043

413.590

. . . . Within 12 months

554.680

510.043

413.590

. . . . Beyond 12 months

. . Other payables

1.174.547

1.015.333

887.954

. . . . Within 12 months

1.174.547

1.015.333

887.954

. . . . Beyond 12 months

Total accounts payable

35.378.116

32.015.034

27.496.507

ADJUSTMENT ACCOUNTS

. Agio on loans

. Other adjustment accounts

106.382

169.210

194.501

Total adjustment accounts

106.382

169.210

194.501

TOTAL LIABILITIES

59.509.436

51.677.891

44.174.971

 

MEMORANDUM ACCOUNTS

 

Third party goods

Investment accounts

Risk accounts

5.160.231

Civil and fiscal norms relation

 

PROFIT AND LOSS ACCOUNTS

 

VALUE OF PRODUCTION

. Revenues from sales and services

73.255.783

71.809.840

65.237.900

. Changes in work in progress

191.049

807.066

112.167

. Changes in semi-manufact. products

. Capitalization of internal work

413.000

. Other income and revenues

891.026

438.448

339.160

. . Contributions for operating expenses

. . Different income and revenues

891.026

438.448

339.160

Total value of production

74.337.858

73.468.354

65.689.227

PRODUCTION COSTS

. Raw material,other materials and consum.

35.905.046

38.606.932

31.404.843

. Services received

18.766.754

. Leases and rentals

17.686.505

409.766

18.564.265

. Payroll and related costs

10.659.135

9.763.574

8.644.681

. . Wages and salaries

7.738.387

7.088.312

6.244.602

. . Social security contributions

2.420.226

2.216.976

1.909.091

. . Employee termination indemnities

495.133

442.986

466.291

. . Pension and similar

. . Other costs

5.389

15.300

24.697

. Amortization and depreciation

668.741

575.286

515.618

. . Amortization of intangible fixed assets

120.502

104.557

92.584

. . Amortization of tangible fixed assets

441.410

405.814

369.800

. . Depreciation of tangible fixed assets

. . Writedown of current receiv.and of liquid

106.829

64.915

53.234

. Changes in raw materials

733.430

-1.182.047

948.182

. Provisions to risk reserves

. Other provisions

. Other operating costs

1.498.028

1.304.820

1.281.488

Total production costs

67.150.885

68.245.085

61.359.077

Diff. between value and cost of product.

7.186.973

5.223.269

4.330.150

FINANCIAL INCOME AND EXPENSE

. Income from equity investments

. . In subsidiary companies

. . In associated companies

. . In other companies

. Other financial income

53.184

116.792

256.728

. . 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

53.184

256.728

. . . - Subsidiary companies

. . . - Associated companies

. . . - Holding companies

. . . - Other companies

53.184

256.728

. Interest and other financial expense

-381.857

-422.152

-452.970

. . Towards subsidiary companies

. . Towards associated companies

. . Towards holding companies

. . Towards other companies

-381.857

452.970

Total financial income and expense

-328.673

-305.360

-196.242

ADJUSTMENTS TO FINANCIAL ASSETS

. Revaluations

715

1.076

19.590

. . Of equity investments

19.590

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

715

1.076

. . Of securities incl.among current assets

. Devaluation

-762

-509

-1.762

. . Of equity investments

. . Of financial fixed assets (no equity inv)

-762

-509

-1.762

. . Of securities included among current ass

Total adjustments to financial assets

-47

567

17.828

EXTRAORDINARY INCOME AND EXPENSE

. Extraordinary income

44.599

243.355

397.578

. . Gains on disposals

. . Other extraordinary income

44.599

243.355

397.578

. Extraordinary expense

-44.760

-139.197

-68.126

. . Losses on disposals

. . Taxes relating to prior years

. . Other extraordinary expense

-44.760

-139.197

-68.126

Total extraordinary income and expense

-161

104.158

329.452

Results before income taxes

6.858.092

5.022.634

4.481.188

. Taxes on current income

2.488.117

1.949.708

1.580.264

. . current taxes

2.458.714

1.952.371

1.581.178

. . differed taxes(anticip.)

29.403

-2.663

-914

. Net income for the period

4.369.975

3.072.926

2.900.924

. Adjustments in tax regulations pursuance

. Provisions in tax regulations pursuance

. Profit (loss) of the year

4.369.975

3.072.926

2.900.924

 

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

0,12

0,13

0,13

0,16

Elasticity Ratio

Units

0,86

0,85

0,84

0,82

Availability of stock

Units

0,21

0,26

0,26

0,20

Total Liquidity Ratio

Units

0,64

0,59

0,59

0,56

Quick Ratio

Units

0,16

0,16

0,12

0,04

COMPOSITION ON SOURCE

Net Short-term indebtedness

Units

0,99

1,19

1,24

3,10

Self Financing Ratio

Units

0,38

0,35

0,35

0,19

Capital protection Ratio

Units

0,59

0,56

0,48

0,63

Liabilities consolidation quotient

Units

0,15

0,10

0,18

0,16

Financing

Units

1,57

1,76

1,80

4,16

Permanent Indebtedness Ratio

Units

0,46

0,41

0,44

0,38

M/L term Debts Ratio

Units

0,08

0,06

0,10

0,07

Net Financial Indebtedness Ratio

Units

0,00

0,00

0,00

0,02

CORRELATION

Fixed assets ratio

Units

3,78

3,19

3,36

1,80

Current ratio

Units

1,61

1,47

1,53

1,24

Acid Test Ratio-Liquidity Ratio

Units

1,21

1,02

1,07

0,96

Structure's primary quotient

Units

3,13

2,73

2,63

1,18

Treasury's primary quotient

Units

0,29

0,27

0,22

0,06

Rate of indebtedness ( Leverage )

%

263,26

283,40

289,06

534,62

Current Capital ( net )

Value

19.362.896

13.922.280

12.969.820

881.162

RETURN

Return on Sales

%

6,88

5,08

5,24

3,66

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

%

19,33

16,85

18,98

8,90

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

%

30,34

27,54

29,32

19,94

Return on Investment ( R.O.I. )

%

12,08

10,11

9,80

5,24

Return/ Sales

%

9,81

7,27

6,64

4,57

Extra Management revenues/charges incid.

%

60,80

58,83

66,99

35,24

Cash Flow

Value

5.038.716

3.648.212

3.416.542

214.985

Operating Profit

Value

7.186.973

5.223.269

4.330.150

310.321

Gross Operating Margin

Value

7.855.714

5.798.555

4.845.768

419.513

MANAGEMENT

Credits to clients average term

Days

105,23

64,51

60,98

117,11

Debts to suppliers average term

Days

126,81

127,68

113,22

124,74

Average stock waiting period

Days

62,57

66,55

62,27

56,77

Rate of capital employed return ( Turnover )

Units

1,23

1,39

1,48

1,11

Rate of stock return

Units

5,75

5,41

5,78

6,23

Labour cost incidence

%

14,55

13,60

13,25

17,11

Net financial revenues/ charges incidence

%

-0,45

-0,43

-0,30

-0,80

Labour cost on purchasing expenses

%

15,87

14,31

14,09

17,78

Short-term financing charges

%

1,08

1,32

1,65

2,20

Capital on hand

%

81,24

71,96

67,71

89,56

Sales pro employee

Value

219.987

394.559

241.621

208.953

Labour cost pro employee

Value

32.009

53.646

32.017

36.854

 

 

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

:

273.689

Population living in the region

:

4.151.369

Number of families in the region

:

1.748.359

 

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

 

- per food products

:

425

- per non food products

:

2.063

- per energy consume

:

143

 

 

Statistical Detrimental Data

 

Statistcally the trade activity shows periods of crisis.

The area is statistically considered lowly risky.

In the region 18.860 protested subjects are found; in the province they count to 804.

The insolvency index for the region is 0,46, , while for the province it is 0,30.

Total Bankrupt companies in the province : 915.

Total Bankrupt companies in the region : 14.698.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.66.42

UK Pound

1

Rs.99.17

Euro

1

Rs.72.14

ITL

1

Rs.72.14

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

 

 

INFORMATION DETAILS

 

Analysis Done by :

KIN

 

 

Report Prepared by :

NIT

 

               


 

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.