MIRA
INFORM REPORT
|
Report No. : |
305075 |
|
Report Date : |
28.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
POLYCAB WIRES ITALY S.R.L. |
|
|
|
|
Registered Office : |
Via Senato, 20, 20121 - Milano (MI) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.03.2014 |
|
|
|
|
Date of Incorporation : |
09.07.2012 |
|
|
|
|
Legal Form : |
Sole-Member Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturer of wires and cable |
|
|
|
|
No of Employees : |
01 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
Payment Behaviour : |
No Complaints |
|
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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
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
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
Polycab Wires Italy S.r.l.
Via Senato, 20
20121 - Milano (MI) -IT-
Summary
|
Fiscal Code |
: |
07913160961 |
|
Legal Form |
: |
Sole-Member Limited Liability Company |
|
start of Activities |
: |
09/07/2012 |
|
Equity |
: |
65.000 |
|
Turnover Range |
: |
75.000/100.000 |
|
Number of Employees |
: |
01 |
Activity
Manufacturer of wires and cable
Legal Data
Legal Form : Sole-Member Limited
Liability Company
|
Fiscal Code : 07913160961 |
|
Chamber of Commerce no. : 1990346 of
Milano since 17/07/2012 |
|
Chamber of Commerce no. : 231105 of Novara |
|
V.A.T. Code : 07913160961 |
|
Establishment date |
: 09/07/2012 |
|
|
Start of Activities |
: 09/07/2012 |
|
|
Legal duration |
: 31/12/2050 |
|
|
Nominal Capital |
: 60.000 |
|
|
Subscribed Capital |
: 60.000 |
|
|
Paid up Capital |
: 60.000 |
Members
|
|
Jaisinghani |
Bharat Ajay |
|
|
Born in Mumbai |
( ) |
on 21/04/1984 |
- Fiscal Code : JSNBRT84D21Z222A |
|
|
Residence: |
17/7 Khiaram Bhavan R.a. |
, ////// |
Wadala Mumbai 400031 |
- IN - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Sole Director |
09/07/2012 |
|
|
No
Prejudicial events are reported |
|
|
No Protests
registered |
|
|
Pastorello |
Giovanni |
|
|
Born in Milano |
(MI) |
on 30/03/1957 |
- Fiscal Code : PSTGNN57C30F205W |
|
|
Residence: |
Montebello |
, 1 |
- 28053 |
Castelletto Sopra Ticino |
(NO) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Attorney with special power |
21/01/2013 |
|
|
No
Prejudicial events are reported |
|
|
No Protests
registered |
|
|
Polycab Wires
Private Limited |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Sole partner |
09/07/2012 |
|
|
No
Prejudicial events are reported |
|
|
No Protests
registered |
|
|
Polycab Wires
Private Limited |
|
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 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 |
Owned Shares |
% Ownership |
|
Polycab Wires Private Limited |
91346170375 |
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 |
|
Senato |
, 20 |
- 20100 |
- Milano |
(MI) |
- IT - |
|
- |
Branch |
(office) |
since 01/01/2013 |
|
Montebello |
, 1 A |
- 28053 |
- Castelletto Sopra Ticino |
(NO) |
- IT - |
|
Employees |
: 1 |
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
Company's starting of activities
dates back to some years ago (2012).
The analysis is based on the
latest 3 balance sheets.
In the economic management ,
good and bad results followed on by turns. ; in the last financial year a loss
was registered (r.o.e. -247,31%) The turnover is growing in the last financial
year (more then 100%).
A loss is registered as to the
operating result (-145,75%).
The operating loss amounts to
Eur. -208.172 .
The GOM is negative and amounts
to Eur. -206.845.
The company has an excellent net
worth if compared to its debts, with a low indebtedness (0,57) lower than in
2013.
The management generated equity
capital for an amount of Eur. 61.576 , increasing by 48,06% if compared to the
financial year 2013.
Total indebtedness amounts to
Eur. 64.396, on the same levels as the year before.
The company does not exceed in
bank borrowings; the recourse to suppliers' credit is also limited which is
also lower than the sector average.
The management determines a good
range of liquidity.
Cash flow is negative at the end
of financial year 2014.
Subordinate employment cost is
of Eur. 241.729, i.e. 83,76% on total production costs. , with a 300,55%
incidence on turnover.
Financial charges have a limited
incidence (-0,03%) on sales volume.
Financial Data
|
|
Complete balance-sheet for the year |
al 31/03/2014 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
80.429 |
|
Profit (Loss) for the period |
-152.286 |
|
|
Complete balance-sheet for the year |
al 31/03/2013 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
19.695 |
|
Profit (Loss) for the period |
898 |
|
|
Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
22.215 |
|
Profit (Loss) for the period |
-59.312 |
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 31/03/2014 - 12 Mesi - Currency: - Amounts x 1 |
|
- Balance Sheet
as at 31/03/2013 - 12 Mesi - Currency: - Amounts x 1 |
|
- Balance Sheet
as at 31/12/2012 - 12 Mesi - Currency: - Amounts x 1 |
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
RATIOS |
Value
Type |
as at 31/03/2014 |
as at 31/03/2013 |
as at 31/12/2012 |
Sector Average |
|
COMPOSITION ON
INVESTMENT |
|||||
|
Rigidity Ratio |
Units |
0,03 |
0,04 |
0,06 |
0,12 |
|
Elasticity Ratio |
Units |
0,91 |
0,96 |
0,94 |
0,84 |
|
Availability of stock |
Units |
n.c. |
n.c. |
n.c. |
0,05 |
|
Total Liquidity Ratio |
Units |
0,91 |
0,96 |
0,94 |
0,80 |
|
Quick Ratio |
Units |
0,20 |
0,26 |
0,46 |
0,05 |
|
COMPOSITION ON
SOURCE |
|||||
|
Net Short-term indebtedness |
Units |
0,57 |
0,90 |
0,17 |
3,43 |
|
Self Financing Ratio |
Units |
0,43 |
0,36 |
0,43 |
0,20 |
|
Capital protection Ratio |
Units |
1,85 |
-1,43 |
2,21 |
0,33 |
|
Liabilities consolidation quotient |
Units |
0,26 |
0,09 |
0,08 |
0,10 |
|
Financing |
Units |
1,05 |
1,62 |
1,24 |
3,78 |
|
Permanent Indebtedness Ratio |
Units |
0,55 |
0,41 |
0,47 |
0,28 |
|
M/L term Debts Ratio |
Units |
0,12 |
0,05 |
0,04 |
0,06 |
|
Net Financial Indebtedness Ratio |
Units |
0,00 |
0,00 |
0,00 |
0,00 |
|
CORRELATION |
|||||
|
Fixed assets ratio |
Units |
21,50 |
9,57 |
8,38 |
1,98 |
|
Current ratio |
Units |
2,02 |
1,63 |
1,78 |
1,14 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
2,02 |
1,63 |
1,78 |
1,09 |
|
Structure's primary quotient |
Units |
16,88 |
8,36 |
7,66 |
1,29 |
|
Treasury's primary quotient |
Units |
0,45 |
0,45 |
0,86 |
0,10 |
|
Rate of indebtedness ( Leverage ) |
% |
231,96 |
276,91 |
233,34 |
491,47 |
|
Current Capital ( net ) |
Value |
65.869 |
42.461 |
39.207 |
35.543 |
|
RETURN |
|||||
|
Return on Sales |
% |
-187,69 |
6,26 |
-261,02 |
3,05 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
-247,31 |
2,16 |
-145,77 |
7,55 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
-338,11 |
-28,74 |
-200,83 |
24,65 |
|
Return on Investment ( R.O.I. ) |
% |
-145,75 |
-10,38 |
-86,07 |
3,78 |
|
Return/ Sales |
% |
-258,83 |
-60,69 |
-367,83 |
3,83 |
|
Extra Management revenues/charges incid. |
% |
n.c. |
n.c. |
n.c. |
32,71 |
|
Cash Flow |
Value |
-150.959 |
1.233 |
-57.985 |
20.105 |
|
Operating Profit |
Value |
-208.172 |
-11.952 |
-81.713 |
19.999 |
|
Gross Operating Margin |
Value |
-206.845 |
-11.617 |
-80.386 |
36.669 |
|
MANAGEMENT |
|||||
|
Credits to clients average term |
Days |
n.c. |
n.c. |
n.c. |
125,36 |
|
Debts to suppliers average term |
Days |
56,72 |
107,16 |
463,00 |
114,98 |
|
Average stock waiting period |
Days |
n.c. |
n.c. |
n.c. |
14,52 |
|
Rate of capital employed return ( Turnover
) |
Units |
0,56 |
0,17 |
0,23 |
1,20 |
|
Rate of stock return |
Units |
n.c. |
n.c. |
n.c. |
22,80 |
|
Labour cost incidence |
% |
300,55 |
296,62 |
393,59 |
21,33 |
|
Net financial revenues/ charges incidence |
% |
-0,03 |
n.c. |
n.c. |
-0,41 |
|
Labour cost on purchasing expenses |
% |
83,76 |
86,36 |
84,13 |
18,51 |
|
Short-term financing charges |
% |
0,04 |
n.c. |
n.c. |
1,38 |
|
Capital on hand |
% |
177,59 |
584,70 |
427,38 |
83,01 |
|
Sales pro employee |
Value |
11.489 |
19.695 |
11.107 |
170.908 |
|
Labour cost pro employee |
Value |
34.532 |
58.420 |
43.717 |
34.338 |
Market / Territory Data
|
Population living in the province |
: |
3.839.216 |
|
Population living in the region |
: |
9.393.092 |
|
Number of families in the region |
: |
3.858.736 |
Monthly family expenses average
in the region (in Eur..) :
|
- per food products |
: |
460 |
|
- per non food products |
: |
2.090 |
|
- per energy consume |
: |
114 |
Sector Data
The values are calculated on a
base of 707 significant companies.
The companies cash their credits
on an average of 125 dd.
The average duration of
suppliers debts is about 115 dd.
The sector's profitability is on
an average of 3,05%.
The labour cost affects the
turnover in the measure of 21,33%.
Goods are held in stock in a
range of 15 dd.
The difference between the sales
volume and the resources used to realize it is about 1,20.
The employees costs represent
the 18,51% 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.61.46 |
|
UK Pound |
1 |
Rs.92.77 |
|
Euro |
1 |
Rs.69.03 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
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.