MIRA INFORM REPORT
|
Report No. : |
308911 |
|
Report Date : |
19.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
NEWBRIL - SOCIETA' A RESPONSABILITA' LIM
ITATA |
|
|
|
|
Registered Office : |
Via Melgara, 10/A10/B, 15048 - Valenza (AL) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
14.12.2001 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Engaged in trading of diamond such as Brilliant Cut Diamond
size ranging from 0.005 ct. (+000 of sieve) up to 1ct ) |
|
|
|
|
No of Employees : |
03 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
Slow but Correct |
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made on
e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Italy |
A2 |
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 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
Newbril - Societa' A Responsabilita' Lim itata
Via Melgara, 10/A10/B
15048 - Valenza (AL) -IT-
Summary
|
Fiscal Code |
: |
01945430062 |
|
Legal Form |
: |
Limited liability company |
|
start of Activities |
: |
29/01/2002 |
|
Equity |
: |
750.000 |
|
Turnover Range |
: |
3.000.000/3.750.000 |
|
Number of Employees |
: |
03 |
Activity
Engaged in trading
of diamond such as Brilliant Cut
Diamond size ranging from 0.005 ct. (+000 of sieve) up to 1ct )
Legal
Data
Legal Form : Limited liability company
|
Fiscal Code : 01945430062 |
|
Chamber of Commerce no. : 212854 of
Alessandria since 10/01/2002 |
|
V.A.T. Code : 01945430062 |
|
Establishment date |
: 14/12/2001 |
|
|
Start of Activities |
: 29/01/2002 |
|
|
Legal duration |
: 31/12/2030 |
|
|
Nominal Capital |
: 115.000 |
|
|
Subscribed Capital |
: 115.000 |
|
|
Paid up Capital |
: 115.000 |
Members
|
Fiore |
Stefano |
|
|
Born in Rivoli |
(TO) |
on 25/12/1973 |
- Fiscal Code : FRISFN73T25H355S |
|
|
Residence: |
Della Fornace Sandri |
, 2 |
- 13100 |
Vercelli |
(VC) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Sole Director |
14/12/2001 |
|
|
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.
|
Fiore |
Stefano |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Fiore Stefano |
Vercelli (VC) - IT - |
FRISFN73T25H355S |
Proprietor |
Active |
Registered |
|
Fiore Stefano |
Vercelli (VC) - IT - |
FRISFN73T25H355S |
Person in charge |
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 |
|
Fiore Stefano |
Vercelli - IT - |
FRISFN73T25H355S |
57.500 .Eur |
50,00 |
|
Zunino Fabio |
ZNNFBA78B18L570I |
23.000 .Eur |
20,00 |
|
|
Gubiani Gessica |
GBNGSC75M49A182E |
17.250 .Eur |
15,00 |
|
|
Gubiani Greta |
GBNGRT73L70A182K |
17.250 .Eur |
15,00 |
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 |
|
Melgara |
, 10/A10/B |
- 15048 |
- Valenza |
(AL) |
- IT - |
|
Employees |
: 3 |
|
Fittings and Equipment for a value of
2.000 |
Eur |
|
Stocks for a value of 120.000 |
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 2002
The economic-financial analysis is based on
the latest 3 b/s.
Under an economic point of view, profits
were registered during the last years with a r.o.e. of 15,5% in 2013
The operating result in 2013 was positive
(7,63%) and in line with the sector's average.
An operating result of Eur. 140.879 has been
registered. with a -40,92% fall as against the year 2012.
During the latest financial year the gross
operating margin amounted to Eur. 154.644 , with a -39% decrease.
The financial status of the company is
fairly balanced with an indebtedness level of 2,3 and falling as against the
previous year (2,34).
It's shareholders funds amount to Eur. 524.206
on stable levels.
Eur. 1.297.832 is the amount of total debts,
both commercial and of different nature, on the same levels as the year before.
Available funds are good.
The financial management generated a cash
flow of Eur. 95.029.
Subordinate employment cost is of Eur.
64.951, i.e. 2,26% on total production costs. and a 2,15% incidence on sales
volumes.
Financial charges have a limited incidence
(-0,56%) on sales volume.
Financial
Data
|
Complete balance-sheet for the year |
al 31/12/2013 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
3.018.331 |
|
Profit (Loss) for the period |
81.264 |
|
Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
3.332.349 |
|
Profit (Loss) for the period |
171.839 |
|
Complete balance-sheet for the year |
al 31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
2.840.152 |
|
Profit (Loss) for the period |
68.369 |
|
|
Complete balance-sheet for the year |
al 31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
2.488.344 |
|
Profit (Loss) for the period |
37.667 |
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 |
|
- 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 |
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
RATIOS |
Value
Type |
as at 31/12/2013 |
as at 31/12/2012 |
as at 31/12/2011 |
Sector Average |
|
COMPOSITION ON
INVESTMENT |
|||||
|
Rigidity Ratio |
Units |
0,01 |
0,01 |
0,02 |
0,09 |
|
Elasticity Ratio |
Units |
0,99 |
0,99 |
0,98 |
0,89 |
|
Availability of stock |
Units |
0,06 |
0,07 |
0,04 |
0,26 |
|
Total Liquidity Ratio |
Units |
0,93 |
0,91 |
0,94 |
0,54 |
|
Quick Ratio |
Units |
0,05 |
0,08 |
0,03 |
0,03 |
|
COMPOSITION ON
SOURCE |
|||||
|
Net Short-term indebtedness |
Units |
2,30 |
2,34 |
3,52 |
3,95 |
|
Self Financing Ratio |
Units |
0,28 |
0,27 |
0,21 |
0,17 |
|
Capital protection Ratio |
Units |
0,63 |
0,49 |
0,56 |
0,62 |
|
Liabilities consolidation quotient |
Units |
0,01 |
0,01 |
0,01 |
0,10 |
|
Financing |
Units |
2,48 |
2,62 |
3,66 |
4,85 |
|
Permanent Indebtedness Ratio |
Units |
0,29 |
0,28 |
0,22 |
0,29 |
|
M/L term Debts Ratio |
Units |
0,01 |
0,01 |
0,00 |
0,07 |
|
Net Financial Indebtedness Ratio |
Units |
n.c. |
n.c. |
n.c. |
1,04 |
|
CORRELATION |
|||||
|
Fixed assets ratio |
Units |
30,15 |
20,56 |
12,02 |
2,37 |
|
Current ratio |
Units |
1,41 |
1,38 |
1,26 |
1,18 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
1,32 |
1,27 |
1,20 |
0,80 |
|
Structure's primary quotient |
Units |
29,28 |
20,12 |
11,78 |
1,48 |
|
Treasury's primary quotient |
Units |
0,07 |
0,11 |
0,04 |
0,04 |
|
Rate of indebtedness ( Leverage ) |
% |
352,37 |
366,73 |
469,33 |
602,26 |
|
Current Capital ( net ) |
Value |
529.326 |
552.715 |
395.956 |
191.984 |
|
RETURN |
|||||
|
Return on Sales |
% |
3,15 |
5,61 |
2,98 |
2,03 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
15,50 |
30,80 |
16,25 |
6,31 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
23,18 |
45,04 |
25,47 |
17,00 |
|
Return on Investment ( R.O.I. ) |
% |
7,63 |
11,66 |
8,37 |
4,18 |
|
Return/ Sales |
% |
4,67 |
7,16 |
5,82 |
3,46 |
|
Extra Management revenues/charges incid. |
% |
57,68 |
72,05 |
41,39 |
27,96 |
|
Cash Flow |
Value |
95.029 |
186.900 |
84.523 |
44.823 |
|
Operating Profit |
Value |
140.879 |
238.491 |
165.197 |
74.603 |
|
Gross Operating Margin |
Value |
154.644 |
253.552 |
181.351 |
111.383 |
|
MANAGEMENT |
|||||
|
Credits to clients average term |
Days |
n.c. |
n.c. |
n.c. |
113,70 |
|
Debts to suppliers average term |
Days |
n.c. |
n.c. |
n.c. |
118,14 |
|
Average stock waiting period |
Days |
13,96 |
16,49 |
10,65 |
72,90 |
|
Rate of capital employed return ( Turnover
) |
Units |
1,63 |
1,63 |
1,44 |
1,25 |
|
Rate of stock return |
Units |
25,78 |
21,83 |
33,80 |
4,88 |
|
Labour cost incidence |
% |
2,15 |
1,83 |
1,99 |
8,14 |
|
Net financial revenues/ charges incidence |
% |
-0,56 |
0,32 |
-2,04 |
-1,38 |
|
Labour cost on purchasing expenses |
% |
2,26 |
1,97 |
2,12 |
8,25 |
|
Short-term financing charges |
% |
1,35 |
n.c. |
3,78 |
2,76 |
|
Capital on hand |
% |
61,20 |
61,40 |
69,50 |
79,85 |
|
Sales pro employee |
Value |
1.509.165 |
3.332.349 |
2.840.152 |
397.742 |
|
Labour cost pro employee |
Value |
32.475 |
60.818 |
56.580 |
33.267 |
Market
/ Territory Data
|
Population living in the province |
: |
|
|
Population living in the region |
: |
|
|
Number of families in the region |
: |
|
Monthly
family expenses 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 9.175
significant companies.
The companies cash their credits on an
average of 114 dd.
The average duration of suppliers debts is
about 118 dd.
The sector's profitability is on an average
of 2,03%.
The labour cost affects the turnover in the
measure of 8,14%.
Goods are held in stock in a range of 73 dd.
The difference between the sales volume and
the resources used to realize it is about 1,25.
The employees costs represent the 8,25% of
the production costs.
Statistical
Detrimental Data
Statistically the trade activity shows
periods of crisis.
The area is statistically considered
moderately risky.
In the region 27.019 protested subjects are
found; in the province they count to 2.105.
The insolvency index for the region is 0,63,
, while for the province it is 0,50.
Total Bankrupt companies in the province :
1.755.
Total Bankrupt companies in the region :
14.165.
DIAMOND INDUSTRY – INDIA
-
From time immemorial, India is well known in the world
as the birthplace for diamonds. It is difficult to trace the origin of
diamonds but history says that in the remote past, diamonds were mined only in
India. Diamond production in India can be traced back to almost 8th
Century B.C. India, in fact, remained undisputed leader till 18th
Century when Brazilian fields were discovered in 1725 followed by emergence of
S. Africa, Russia and Australia.
-
The achievement of the Indian diamond industry was
possible only due to combination of the manufacturing skills of the Indian
workforce and the untiring and unflagging efforts of the Indian diamantaires,
supported by progressive Government policies.
-
The area of study of family owned diamond businesses
derives its importance from the huge conglomerate of family run organizations
which operate in the diamond industry since many generations.
-
Some of the basic traits of family run business
enterprises include spirit of entrepreneurship, mutual trust lowers transaction
costs, small, nimble and quick to react, information as a source of advantage
and philanthropy.
-
Family owned diamond businesses need to improve on
many fronts including higher standard of corporate governance, long-term
performance – focused strategies, modern management and technology.
-
Utmost caution is to be exercised while dealing with
some medium and large diamond traders which are usually engaged in fictitious
import – export, inter-company transactions, financially assisted by banks. In
the process, several public sector banks lost several hundred million rupees.
They mostly diverted borrowed money for diamond business into real estate and
capital markets.
-
Excerpts from Times of India dated 30th
October 2010 is as under –
-
Gem & Jewellery Export Promotion Council in its
statistical data has shown the export of polished diamonds to have increase by
28 % in February 2013. Compared to $ 1.4 bn worth of polished diamond export in
February, 2012, India exported $ 1.84 billion worth of polished diamonds in
February 2013. A senior executive of GJEPC said, “Export of cut and polished
diamonds started falling month-wise after the imposition of 2 % of import duty
on the polished diamonds. But February, 2013 has given a new ray of hope to the
industry as the export of polished diamonds has actually increased by 28 %. It
means the industry is on the track of recovery and round tripping of
diamonds has stopped completely.” Demand has started coming from the US, the
UK, Japan and China. India’s polished diamond export is expected to cross $ 21
bn in 2013-14.
-
The banking sector has started exercising restraint
while following prudent risk management norms when lending money to gems and
jewellery sector. This follows the implementation of Basel III accord – a global
voluntary regulatory standard on bank capital adequacy, stress testing and
market liquidity.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.25 |
|
UK Pound |
1 |
Rs.95.57 |
|
Euro |
1 |
Rs.71.01 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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.