|
Report No. : |
327360 |
|
Report Date : |
24.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
CARRARO S.R.L. |
|
|
|
|
Registered Office : |
Via Sansovino, 0014, 20133 – Milano (MI) -IT- |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
19.05.1980 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacture of Other Taps and Valves. |
|
|
|
|
No. of Employees : |
From 71 to 90 |
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 : |
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 – 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 |
CARRARO S.R.L.
Via Sansovino, 0014
20133 – Milano (MI) -IT-
|
Fiscal Code |
: |
04825610159 |
|
Legal Form |
: |
Limited liability company |
|
Foundation Date |
: |
19/05/1980 |
|
Equity |
: |
1.000.000 |
|
Turnover Range |
: |
10.000.000/12.750.000 |
|
Number of Employees |
: |
from 71 to 90 |
Manufacture of other taps and valves
Legal Form : Limited liability company
|
Fiscal Code : 04825610159 |
|
Foreign Trade Reg. no. : MI159976 since 26/05/1992 |
|
Foreign Trade Reg. no. : 159976 of Milano since 26/05/1992 |
|
Chamber of Commerce no. : 1043015 of Milano since 24/06/1980 |
|
Firms' Register : MI146-201886 of Milano since 19/02/1996 |
|
V.A.T. Code : 04825610159 |
|
Tribunal Co. Register : 201886 of |
|
Foundation date |
: 19/05/1980 |
|
|
Establishment date |
: 19/05/1980 |
|
|
Legal duration |
: 31/12/2050 |
|
|
Nominal Capital |
: 520.000 |
|
|
Subscribed Capital |
: 520.000 |
|
|
Paid up Capital |
: 520.000 |
|
Legal mail : |
CARRARO@PEC.CARRAROVALVOLE.COM |
Members
|
|
Carraro |
Giovanni |
|
|
Born in Milano |
(MI) |
on 20/05/1963 |
- Fiscal Code : CRRGNN63E20F205S |
|
|
Residence: |
Ozanam |
, 9 |
- 20100 |
Milano |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
26/06/2006 |
||
|
Managing Director |
04/09/2006 |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Carraro |
Antonio Maria |
|
|
Born in Milano |
(MI) |
on 31/07/1951 |
- Fiscal Code : CRRNNM51L31F205P |
|
|
Residence: |
Garofalo |
, 4 |
- 20100 |
Milano |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
26/06/2006 |
||
|
Board Chairman |
04/09/2006 |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
*checkings have been performed on a national scale.
In this module are listed the companies in which members hold or have
holded positions.
|
|
Carraro |
Giovanni |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Tityre Di Marco Tordelli E C. S.a.s. |
Milano (MI) - IT - |
03147660157 |
Limited Partner |
Withdrawn |
Registered |
|
Abidue S.r.l. |
Milano (MI) - IT - |
03630110967 |
Director |
Active |
Registered |
|
|
Carraro |
Antonio Maria |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Abidue S.r.l. |
Milano (MI) - IT - |
03630110967 |
Director |
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.
Shareholders' list as at date of data collection:
|
Firm's Style / Name |
Seat / Residence |
Fiscal Code |
Owned Shares |
% Ownership |
|
Carraro Giovanni |
Milano - IT - |
CRRGNN63E20F205S |
260.000 .Eur |
50,00 |
|
Carraro Antonio Maria |
Milano - IT - |
CRRNNM51L31F205P |
260.000 .Eur |
50,00 |
The Company under review has no participations in other Companies.
In order to carry out its activities the firm uses the following
locations:
|
- |
Legal and operative seat |
since 19/05/1980 |
|
Sansovino |
, 0014 |
- 20100 |
- Milano |
(MI) |
- IT - |
|
PHONE |
: 022699121 |
|
FAX |
: 0226922452 |
|
Legal mail |
: CARRARO@PEC.CARRAROVALVOLE.COM |
|
- |
Branch |
(Factory) |
since 19/05/1980 |
|
Enrico Fermi |
, 22 |
- 20090 |
- Segrate |
(MI) |
- IT - |
|
PHONE |
: 0226991228 |
|
Employees |
: 74 |
|
Fittings and Equipment for a value of 480.000 |
Eur |
|
Stocks for a value of 2.500.000 |
Eur |
Trade organization: direct or by agents.
Sales area on a national scale.
Import comes generally from the following nations:
|
- France |
|
- Germany |
COMPANY STYLE MODIFICATIONS:
|
Former Style |
New Style |
Changement Date |
|
Abilis S.r.l. |
Carraro S.r.l. |
01/01/1993 |
CEASINGS/INCORPORATIONS/MERGES:
|
|
The firm absorbed by merging of |
|
GITOPAGIOVA
S.R.L. |
|
|
Sansovino |
, 14 |
, 20100 |
, Milano |
(MI) |
- IT - |
|
|
Date |
: |
30/10/1991 |
|
|
The firm absorved |
|
G.U.F.I. Spa |
|
|
, MILANO |
- IT - |
|
|
Date |
: |
16/12/1980 |
|
|
The firm absorved |
|
G.U.F.I. SPA |
|
|
, MILANO |
- IT - |
|
|
Date |
: |
16/12/1980 |
|
|
The firm absorved |
|
GITOPAGIOVA
S.R.L. |
|
|
Sansovino |
, 14 |
, 20100 |
, Milano |
(MI) |
- IT - |
|
|
Date |
: |
30/10/1991 |
|
|
The firm absorbed by merging of |
|
G.U.F.I. SPA |
|
|
, 20100 |
, Milano |
(MI) |
- IT - |
|
|
Date |
: |
16/12/1980 |
|
|
Splitting-up project and setting-up of new co |
|
|
Date |
Merging/Splitting-up Project-New Company: |
22/03/2002 |
|
|
Splitting-up and setting-up of a new company |
|
ABIDUE S.R.L. |
|
|
, Milano |
- IT - |
|
|
Date |
Splitting-up: |
18/07/2002 |
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.
None reported, standing to the latest received edition of the Official
Publications.
Company's starting of activities dates back to 1980.
The analysis is based on the latest 3 balance sheets.
During the last years, it recorded positive net results (r.o.e. 15,92%
in 2013) with a remarkable upward trend (+10,9% on 2013 compared to 2012 and
+6,91% on 2012 compared to 2011).
The return on Investment in the last financial year was positive (5,31%)
and in line with the sector's average.
The amount of the operating result for the year 2013 is of Eur. 396.662
with a -26,53% drop.
The gross operating margin of the latest financial year is of Eur.
630.587 , with a -22,59% decrease.
The analysis shows a fair financial position as the indebtedness volume
is acceptable (3,14) with an improving trend as on the decrease.
The equity capital is equal to Eur. 929.174 , unchanged as opposed to
the preceding year.
During the last financial year total debts volume reached Eur. 4.687.509
(Eur. 1.268.172 were m/l term ones) showing a stable trend as opposed to 2012
(Eur. 4.349.779).
Companys' indebtedness is fairly high in relation to its net worth;
payments average period is slow even in comparison with the sector's.
Liquid assets are good.
Trade credits average terms are slow, on average 124,12 days. even
higher than the average of the specific sector.
2013 financial year closed with a cash flow of Eur. 381.839
During 2013 financial year labour costs amounted to Eur. 3.844.444, with
a 35,02% incidence on production costs. and a 36,34% incidence on sales
volumes.
The incidence of the financial charges is of -0,01% on the sales amount.
|
|
Complete balance-sheet for the year |
al 31/12/2013 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
10.580.097 |
|
Profit (Loss) for the period |
147.914 |
|
|
Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
9.540.109 |
|
Profit (Loss) for the period |
288.686 |
|
|
Complete balance-sheet for the year |
al 31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
8.922.816 |
|
Profit (Loss) for the period |
10.546 |
|
|
Complete balance-sheet for the year |
al 31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
8.799.587 |
|
Profit (Loss) for the period |
-82.753 |
|
|
Complete balance-sheet for the year |
al 31/12/2009 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
9.138.650 |
|
Profit (Loss) for the period |
-48.524 |
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 |
0,08 |
0,11 |
0,11 |
0,26 |
|
Elasticity Ratio |
Units |
0,91 |
0,89 |
0,88 |
0,73 |
|
Availability of stock |
Units |
0,33 |
0,36 |
0,35 |
0,23 |
|
Total Liquidity Ratio |
Units |
0,58 |
0,53 |
0,53 |
0,44 |
|
Quick Ratio |
Units |
0,07 |
0,02 |
0,00 |
0,02 |
|
COMPOSITION ON
SOURCE |
|||||
|
Net Short-term indebtedness |
Units |
3,14 |
4,05 |
9,67 |
1,74 |
|
Self Financing Ratio |
Units |
0,12 |
0,12 |
0,07 |
0,29 |
|
Capital protection Ratio |
Units |
0,28 |
-0,04 |
-0,08 |
0,64 |
|
Liabilities consolidation quotient |
Units |
0,83 |
0,75 |
0,31 |
0,22 |
|
Financing |
Units |
5,04 |
5,57 |
9,83 |
2,30 |
|
Permanent Indebtedness Ratio |
Units |
0,51 |
0,48 |
0,29 |
0,46 |
|
M/L term Debts Ratio |
Units |
0,38 |
0,37 |
0,22 |
0,11 |
|
Net Financial Indebtedness Ratio |
Units |
1,03 |
1,44 |
3,09 |
0,49 |
|
CORRELATION |
|||||
|
Fixed assets ratio |
Units |
6,02 |
4,55 |
2,55 |
1,63 |
|
Current ratio |
Units |
1,99 |
1,81 |
1,28 |
1,32 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
1,26 |
1,08 |
0,78 |
0,86 |
|
Structure's primary quotient |
Units |
1,48 |
1,09 |
0,63 |
1,05 |
|
Treasury's primary quotient |
Units |
0,15 |
0,05 |
0,00 |
0,04 |
|
Rate of indebtedness ( Leverage ) |
% |
804,07 |
866,52 |
1409,52 |
349,01 |
|
Current Capital ( net ) |
Value |
3.398.767 |
2.714.556 |
1.328.456 |
753.266 |
|
RETURN |
|||||
|
Return on Sales |
% |
3,61 |
5,91 |
2,49 |
5,13 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
15,92 |
36,95 |
2,14 |
7,27 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
42,54 |
65,76 |
41,85 |
15,95 |
|
Return on Investment ( R.O.I. ) |
% |
5,31 |
7,98 |
3,86 |
5,36 |
|
Return/ Sales |
% |
3,75 |
5,66 |
3,01 |
5,57 |
|
Extra Management revenues/charges incid. |
% |
37,29 |
53,46 |
3,93 |
42,11 |
|
Cash Flow |
Value |
381.839 |
563.362 |
222.083 |
344.143 |
|
Operating Profit |
Value |
396.662 |
539.964 |
268.230 |
359.008 |
|
Gross Operating Margin |
Value |
630.587 |
814.640 |
479.767 |
705.726 |
|
MANAGEMENT |
|||||
|
Credits to clients average term |
Days |
124,12 |
124,18 |
146,04 |
101,37 |
|
Debts to suppliers average term |
Days |
165,64 |
173,87 |
183,12 |
115,52 |
|
Average stock waiting period |
Days |
85,16 |
92,00 |
96,69 |
80,62 |
|
Rate of capital employed return ( Turnover ) |
Units |
1,42 |
1,41 |
1,29 |
1,07 |
|
Rate of stock return |
Units |
4,23 |
3,91 |
3,72 |
4,40 |
|
Labour cost incidence |
% |
36,34 |
38,10 |
39,80 |
16,91 |
|
Net financial revenues/ charges incidence |
% |
-0,01 |
-0,27 |
-0,70 |
-1,19 |
|
Labour cost on purchasing expenses |
% |
35,02 |
37,46 |
37,86 |
17,25 |
|
Short-term financing charges |
% |
0,63 |
1,14 |
1,42 |
2,71 |
|
Capital on hand |
% |
70,62 |
70,96 |
77,81 |
93,00 |
|
Sales pro employee |
Value |
88.167 |
84.425 |
132.189 |
223.920 |
|
Labour cost pro employee |
Value |
32.037 |
32.162 |
52.606 |
35.625 |
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.
|
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 expences average in the region (in Eur..) :
|
- per food products |
: |
460 |
|
- per non food products |
: |
2.090 |
|
- per energy consume |
: |
114 |
The values are calculated on a base of 918 significant companies.
The companies cash their credits on an average of 101 dd.
The average duration of suppliers debts is about 116 dd.
The sector's profitability is on an average of 5,13%.
The labour cost affects the turnover in the measure of 16,91%.
Goods are held in stock in a range of 81 dd.
The difference between the sales volume and the resources used to
realize it is about 1,07.
The employees costs represent the 17,25% of the production costs.
Statistcally 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.63.64 |
|
|
1 |
Rs.100.41 |
|
Euro |
1 |
Rs.71.63 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
TPT |
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.