MIRA INFORM REPORT
|
Report No. : |
327876 |
|
Report Date : |
24.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
PADMINI TEXTILES S.R.L. |
|
|
|
|
Registered Office : |
Corso Duca Degli Abruzzi, 2 10128 – Torino |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
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Date of Incorporation : |
16.07.2010 |
|
|
|
|
Legal Form : |
Sole-Member Limited Liability Company |
|
|
|
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Line of Business : |
Subject is agents and representative of clothing and accessories |
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|
|
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No. of Employee : |
from 1 to 5 |
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 |
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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
PADMINI TEXTILES S.R.L.
Corso Duca Degli Abruzzi, 2
10128 – Torino, (TO), -IT-
Summary
|
Fiscal Code |
: |
10354260019 |
|
Legal Form |
: |
Sole-Member Limited Liability Company |
|
start of Activities |
: |
04/10/2010 |
|
Equity |
: |
50.000 |
|
Turnover Range |
: |
150.000/200.000 |
|
Number of Employees |
: |
from 1 to 5 |
Activity
Agents and representative of clothing and accessories
Legal
Data
Legal Form : Sole-Member Limited Liability Company
|
Fiscal Code : 10354260019 |
|
Chamber of Commerce no. : 119641 of Asti |
|
Chamber of Commerce no. : 1126198 of Torino since 22/07/2010 |
|
V.A.T. Code : 10354260019 |
|
Trade Agents Licence : of Asti since 01/10/2010 |
|
Establishment date |
: 16/07/2010 |
|
|
Start of Activities |
: 04/10/2010 |
|
|
Legal duration |
: 31/12/2050 |
|
|
Nominal Capital |
: 10.000 |
|
|
Subscribed Capital |
: 10.000 |
|
|
Paid up Capital |
: 10.000 |
|
Legal mail : |
PADMINISRL@PEC.IT |
Members
|
Istituto Fiduciario Piemontese - Societa |
' Fiduciaria E Di Revisione S.r.l. |
|
|
Residence: |
Siccardi |
, 11 BIS |
- 10123 |
Torino |
(TO) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Sole partner |
16/07/2010 |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
Masoero |
Flavia Maria |
|
|
Born in Torino |
(TO) |
on 03/09/1957 |
- Fiscal Code : MSRFVM57P43L219N |
|
|
Residence: |
San Giorgio |
, 11 |
- 14024 |
Moncucco Torinese |
(AT) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Sole Director |
16/07/2010 |
|
|
Prejudicial Events found with cancellations* |
Legal Mortgage - 09/11/2006. -
7.884 Euro. Event writing-off
|
|
EQUITALIA NOMOS S. P. A. |
|
|
No Protests registered |
*Concerns also partially erased events.
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.
|
Istituto Fiduciario Piemontese - Societa |
' Fiduciaria E Di Revisione S.r.l. |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Icaro Italia S.r.l. In Liquidazione |
Torino (TO) - IT - |
09845760017 |
Sole partner |
- |
Bankrupt |
|
Fashion Studio Europe S.r.l. In Liquidazione Siglabile F.s.e. S.r.l.
In Liquidaz |
Settimo Torinese (TO) - IT - |
09840320015 |
Sole partner |
- |
In liquidation |
|
Masoero |
Flavia Maria |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Immobiliare Arcadia Societa' Semplice |
Torino (TO) - IT - |
96712770013 |
Partner |
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 |
|
Istituto Fiduciario Piemontese - Societa ' Fiduciaria E Di Revisione
S.r.l. |
Torino - IT - |
05139020019 |
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 |
|
Duca Degli Abruzzi |
, 2 |
- 10100 |
- Torino |
(TO) |
- IT - |
|
Legal mail |
: PADMINISRL@PEC.IT |
|
- |
Branch |
(office) |
since 04/10/2010 |
|
San Giorgio |
, 11 |
- 14020 |
- Moncucco Torinese |
(AT) |
- IT - |
|
Employees |
: 2 |
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 has been active for some years.
The analysis is based on the latest 3 balance sheets.
Under the financial profile unstable results are noted. anyway in 2013 a
positive result was achieved (r.o.e. 33,38%).
The operating result was positive in the last financial year (26,91%)
and even better than sector's average.
The amount of the operating result is equal to Eur. 25.675 on stable
levels if compared to the previous year.
A gross operating margine for a value of Eur. 39.295 was reached. with
no sensible increase as against 2012.
The company has an excellent net worth if compared to its debts, with a
low indebtedness (0,19) lower than in 2012.
It's shareholders funds amount to Eur. 45.287 with a growth of 50,09% in
2013.
Total indebtedness was equal to Eur. 35.768 (Eur. 4.358 was the value of
m/l term debts) as opposed to Eur. 59.763 in 2012, with a decrease equal to
-40,15%.
Liquidity is good.
Eur. 28.735 is the value of cash flow during the year 2013
In the last financial year labour cost was of Eur. 62.016, with a 40,48%
incidence on total costs of production. , whereas the incidence on sales
revenues is of 34,67%.
Financial
Data
|
Complete balance-sheet for the year |
al 31/12/2013 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
178.888 |
|
Profit (Loss) for the period |
15.115 |
|
Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
166.128 |
|
Profit (Loss) for the period |
19.364 |
|
Complete balance-sheet for the year |
al 31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
161.700 |
|
Profit (Loss) for the period |
-12.884 |
|
Complete balance-sheet for the year |
al 31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
7.189 |
|
Profit (Loss) for the period |
-15.307 |
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 |
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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 |
0,15 |
0,28 |
0,37 |
0,12 |
|
Elasticity Ratio |
Units |
0,85 |
0,72 |
0,63 |
0,86 |
|
Availability of stock |
Units |
n.c. |
n.c. |
n.c. |
0,12 |
|
Total Liquidity Ratio |
Units |
0,85 |
0,72 |
0,63 |
0,70 |
|
Quick Ratio |
Units |
0,24 |
0,13 |
0,47 |
0,05 |
|
COMPOSITION ON SOURCE |
|||||
|
Net Short-term indebtedness |
Units |
0,19 |
1,39 |
2,88 |
3,66 |
|
Self Financing Ratio |
Units |
0,47 |
0,30 |
0,11 |
0,17 |
|
Capital protection Ratio |
Units |
0,45 |
0,03 |
1,27 |
0,58 |
|
Liabilities consolidation quotient |
Units |
0,48 |
0,21 |
0,10 |
0,09 |
|
Financing |
Units |
0,79 |
1,98 |
7,71 |
4,48 |
|
Permanent Indebtedness Ratio |
Units |
0,63 |
0,41 |
0,19 |
0,29 |
|
M/L term Debts Ratio |
Units |
0,16 |
0,12 |
0,08 |
0,05 |
|
Net Financial Indebtedness Ratio |
Units |
n.c. |
n.c. |
n.c. |
0,32 |
|
CORRELATION |
|||||
|
Fixed assets ratio |
Units |
4,10 |
1,48 |
0,51 |
1,99 |
|
Current ratio |
Units |
2,57 |
1,31 |
0,81 |
1,13 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
2,57 |
1,31 |
0,81 |
1,00 |
|
Structure's primary quotient |
Units |
3,07 |
1,07 |
0,29 |
1,32 |
|
Treasury's primary quotient |
Units |
0,73 |
0,24 |
0,61 |
0,08 |
|
Rate of indebtedness ( Leverage ) |
% |
210,67 |
333,91 |
934,46 |
568,12 |
|
Current Capital ( net ) |
Value |
49.249 |
17.078 |
-14.999 |
100.720 |
|
RETURN |
|||||
|
Return on Sales |
% |
16,06 |
19,61 |
0,32 |
1,95 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
33,38 |
64,18 |
-119,21 |
5,66 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
56,97 |
83,13 |
-108,55 |
15,26 |
|
Return on Investment ( R.O.I. ) |
% |
26,91 |
24,67 |
-11,83 |
3,60 |
|
Return/ Sales |
% |
14,35 |
14,96 |
-7,39 |
2,71 |
|
Extra Management revenues/charges incid. |
% |
58,87 |
77,90 |
n.c. |
34,41 |
|
Cash Flow |
Value |
28.735 |
32.576 |
521 |
50.638 |
|
Operating Profit |
Value |
25.675 |
24.857 |
-11.950 |
59.288 |
|
Gross Operating Margin |
Value |
39.295 |
38.069 |
1.455 |
102.719 |
|
MANAGEMENT |
|||||
|
Credits to clients average term |
Days |
n.c. |
n.c. |
n.c. |
98,72 |
|
Debts to suppliers average term |
Days |
n.c. |
n.c. |
n.c. |
102,13 |
|
Average stock waiting period |
Days |
n.c. |
n.c. |
n.c. |
27,12 |
|
Rate of capital employed return ( Turnover ) |
Units |
1,88 |
1,65 |
1,60 |
1,52 |
|
Rate of stock return |
Units |
n.c. |
n.c. |
n.c. |
13,27 |
|
Labour cost incidence |
% |
34,67 |
35,33 |
35,15 |
5,89 |
|
Net financial revenues/ charges incidence |
% |
0,00 |
-0,01 |
0,00 |
-0,45 |
|
Labour cost on purchasing expenses |
% |
40,48 |
38,97 |
32,73 |
6,11 |
|
Short-term financing charges |
% |
0,03 |
0,04 |
0,01 |
1,92 |
|
Capital on hand |
% |
53,33 |
60,64 |
62,46 |
65,89 |
|
Sales pro employee |
Value |
178.888 |
166.128 |
161.700 |
508.894 |
|
Labour cost pro employee |
Value |
62.016 |
58.698 |
56.843 |
34.393 |
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 |
: |
|
|
Population living in the region |
: |
|
|
Number of families in the region |
: |
|
Monthly family expences 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 1.824 significant companies.
The companies cash their credits on an average of 99 dd.
The average duration of suppliers debts is about 102 dd.
The sector's profitability is on an average of 1,95%.
The labour cost affects the turnover in the measure of 5,89%.
Goods are held in stock in a range of 27 dd.
The difference between the sales volume and the resources used to
realize it is about 1,52.
The employees costs represent the 6,11% of the production costs.
Statistical
Detrimental Data
Statistically the trade activity passes through serious crises.
The area is statistically considered moderately risky.
In the region 27.019 protested subjects are found; in the province they
count to 16.723.
The insolvency index for the region is 0,63, , while for the province it
is 0,76.
Total Bankrupt companies in the province : 7.726.
Total Bankrupt companies in the region : 14.165.
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 : |
ASH |
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.