MIRA INFORM REPORT
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Report No. : |
307057 |
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Report Date : |
12.02.2015 |
IDENTIFICATION DETAILS
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Name : |
BUONARROTI SRL |
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Registered Office : |
Via Massimo D'antona, SCN, 63014 –
Montegranaro (FM) |
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Country : |
Italy |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
29.05.2013 |
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Legal Form : |
Sole-Member Limited Liability Company |
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Line of Business : |
Engaged in Manufacturing of Other Luggage, Handbags and similars, Leather goods as well as Saddlery [We tried to confirm / obtain the detailed activity but the same is not available from any sources.] |
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No of Employees : |
From 01 To 05 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
No Complaints |
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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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Italy |
A2 |
A1 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Italy ECONOMIC OVERVIEW
Italy has a diversified
industrial 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 133% of GDP in 2013, 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 widespread tax
evasion. In 2013 economic growth and labor market conditions deteriorated, with
growth at -1.8% and unemployment rising to 12.4%, with youth unemployment
around 40%. Italy's GDP is now 8% below its 2007 pre-crisis level.
|
Source : CIA |
Company
name & address
Buonarroti Srl
Via Massimo D'antona, SCN
63014 - Montegranaro (FM) -IT-
Summary
|
Fiscal Code |
: |
01825890435 |
|
Legal Form |
: |
Sole-Member Limited Liability Company |
|
start of Activities |
: |
07/06/2013 |
|
Equity |
: |
25.000 |
|
Turnover Range |
: |
500.000/750.000 |
|
Number of Employees |
: |
from 1 to 5 |
Activity
Engaged in Manufacturing of Other Luggage, Handbags and similars, Leather goods as well as Saddlery
Legal
Data
Legal Form : Sole-Member Limited Liability
Company
|
Register of Handcraft firms : 59169 |
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Register of Handcraft firms : 59169 of
Macerata |
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Fiscal Code : 01825890435 |
|
Chamber of Commerce no. : 199218 of Fermo
since 13/10/2014 |
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Chamber of Commerce no. : 184897 of
Macerata since 10/06/2013 |
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V.A.T. Code : 01825890435 |
|
Establishment date |
: 29/05/2013 |
|
|
Start of Activities |
: 07/06/2013 |
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|
Legal duration |
: 31/12/2050 |
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Nominal Capital |
: 10.000 |
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Subscribed Capital |
: 10.000 |
|
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Paid up Capital |
: 10.000 |
Members
|
Passarini |
Paola |
|
|
Born in Macerata |
(MC) |
on 22/01/1975 |
- Fiscal Code : PSSPLA75A62E783S |
|
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Residence: |
Volturno |
, 1 |
- 62100 |
Macerata |
(MC) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Sole Director |
29/05/2013 |
||
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Sole partner |
07/06/2013 |
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No Prejudicial events are reported |
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No Protests
registered |
Companies
connected to members *
*checkings have been performed on a national
scale.
In this module the companies in which
members hold/held positions are listed.
The Members of the subject firm are not
reported to be Members in other companies.
Capital
Shareholders
Shareholders'
list as at date of data collection:
|
Firm's Style / Name |
Seat / Residence |
Fiscal Code |
% Ownership |
|
Passarini Paola |
Macerata - IT - |
PSSPLA75A62E783S |
100,00 |
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 |
(Workshop) |
|
Massimo D'antona |
, SCN |
- 63014 |
- Montegranaro |
(FM) |
- IT - |
|
- |
Legal and
operative seat |
(Workshop) |
until 12/10/2014 |
|
Enrico Mattei |
, 8 |
- 62010 |
- Pollenza |
(MC) |
- IT - |
|
Assistants |
: 1 |
|
Stocks for a value of 66.000 |
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
The company is in its early stage.
The analysis is based on the b/s relating to
year 2013 the financial period 2013 closed with a profit (r.o.e. del 52,62%).
The operating result was positive (3,65%).
falling within the field's average.
The operating result amounts to Eur. 20.415.
The value of the gross operating margin is
Eur. 20.733.
Financial condition is not balanced as own
capitals do not cover debts, indebtedness level is in fact high (23,41)
Subject's shareholder funds amounted to Eur.
21.106.
Total debts (both at Short and M/L terms)
amount to Eur. 538.301.
The company makes frequent use of bank
credit; the recourse to suppliers credit is also high besides being higher than
sector's average.
Liquidity is however good.
Due from customers average term is high and
equal to 214,02 days. also in relation to the average of the sector.
Financial year closed with a cash flow of
Eur. 11.423.
Labour cost amounts to Eur. 65, with a 0,01%
incidence on production costs. , with a 0,01% incidence on turnover.
Limited financial charges in relation to
sales volume.
Financial
Data
|
Complete balance-sheet for the year |
al 31/12/2013 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
620.755 |
|
Profit (Loss) for the period |
11.105 |
Balance
Sheets
From our constant monitoring of the relevant
Public Administration offices, no more recent balance sheets result to have
been filed.
|
- Balance Sheet
as at 31/12/2013 - 12 Mesi - Currency: - Amounts x 1 |
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RATIOS |
Value
Type |
as at 31/12/2013 |
Sector Average |
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COMPOSITION ON
INVESTMENT |
|||
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Rigidity Ratio |
Units |
0,00 |
0,18 |
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Elasticity Ratio |
Units |
1,00 |
0,80 |
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Availability of stock |
Units |
0,12 |
0,20 |
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Total Liquidity Ratio |
Units |
0,88 |
0,51 |
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Quick Ratio |
Units |
0,08 |
0,02 |
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COMPOSITION ON
SOURCE |
|||
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Net Short-term indebtedness |
Units |
23,41 |
2,38 |
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Self Financing Ratio |
Units |
0,04 |
0,24 |
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Capital protection Ratio |
Units |
0,00 |
0,68 |
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Liabilities consolidation quotient |
Units |
n.c. |
0,18 |
|
Financing |
Units |
25,50 |
2,86 |
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Permanent Indebtedness Ratio |
Units |
0,04 |
0,38 |
|
M/L term Debts Ratio |
Units |
n.c. |
0,11 |
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Net Financial Indebtedness Ratio |
Units |
7,78 |
1,00 |
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CORRELATION |
|||
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Fixed assets ratio |
Units |
16,58 |
1,78 |
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Current ratio |
Units |
1,04 |
1,25 |
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Acid Test Ratio-Liquidity Ratio |
Units |
0,91 |
0,84 |
|
Structure's primary quotient |
Units |
16,58 |
1,07 |
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Treasury's primary quotient |
Units |
0,08 |
0,03 |
|
Rate of indebtedness ( Leverage ) |
% |
2650,46 |
408,81 |
|
Current Capital ( net ) |
Value |
19.833 |
312.424 |
|
RETURN |
|||
|
Return on Sales (R.O.S.) |
% |
1,84 |
2,67 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
52,62 |
3,20 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
82,17 |
8,58 |
|
Return on Investment ( R.O.I. ) |
% |
3,65 |
4,36 |
|
Return/ Sales |
% |
3,29 |
3,63 |
|
Extra Management revenues/charges incid. |
% |
54,40 |
23,99 |
|
Cash Flow |
Value |
11.423 |
112.609 |
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Operating Profit |
Value |
20.415 |
127.644 |
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Gross Operating Margin |
Value |
20.733 |
230.719 |
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MANAGEMENT |
|||
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Credits to clients average term |
Days |
214,02 |
101,46 |
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Debts to suppliers average term |
Days |
166,67 |
94,66 |
|
Average stock waiting period |
Days |
38,41 |
56,34 |
|
Rate of capital employed return ( Turnover
) |
Units |
1,11 |
1,34 |
|
Rate of stock return |
Units |
9,37 |
6,30 |
|
Labour cost incidence |
% |
0,01 |
12,44 |
|
Net financial revenues/charges incidence |
% |
-0,49 |
-1,48 |
|
Labour cost on purchasing expenses |
% |
0,01 |
12,90 |
|
Short-term financing charges |
% |
0,57 |
3,49 |
|
Capital on hand |
% |
90,12 |
74,43 |
|
Sales pro employee |
Value |
253.464 |
|
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Labour cost pro employee |
Value |
32.147 |
Market
/ Territory Data
|
Population living in the province |
: |
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Population living in the region |
: |
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Number of families in the region |
: |
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Monthly family expenses average in the
region (in .) :
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- per food products |
: |
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- per non food products |
: |
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- per energy consume |
: |
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Sector
Data
The values are calculated on a base of 923
significant companies.
The companies cash their credits on an
average of 101 dd.
The average duration of suppliers debts is
about 95 dd.
The sector's profitability is on an average
of 2,67%.
The labour cost affects the turnover in the
measure of 12,44%.
Goods are held in stock in a range of 56 dd.
The difference between the sales volume and
the resources used to realize it is about 1,34.
The employees costs represent the 12,90% of
the production costs.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.15 |
|
UK Pound |
1 |
Rs.94.72 |
|
Euro |
1 |
Rs.70.33 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
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|
Report Prepared
by : |
MNL |
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.