MIRA INFORM REPORT

 

 

Report No. :

328646

Report Date :

25.06.2015

 

IDENTIFICATION DETAILS

 

Name :

SISMA - S.P.A.

 

 

Registered Office :

Via Dell'industria, 1, 36013 - Piovene Rocchette (VI)

 

 

Country :

Italy

 

 

Financials (as on) :

31.12.2014

 

 

Date of Incorporation :

20.11.1980

 

 

Legal Form :

Joint Stock Company with Sole Shareholder.

 

 

Line of Business :

·         Manufacture of Moulds, Mould-Holders, Profiles, Shapes for Machines.

·         Manufacture of General-Purpose Machinery and Other Mechanical Products n.e.c.

·         Manufacture of Metal Forming Machinery.

 

 

No. of Employees :

From 111 to 130

 

 

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

Company Name and address

 

SISMA - S.P.A.

 

Via Dell'industria, 1

 

36013 - Piovene Rocchette (VI) -IT-

 

 

Summary

 

Fiscal Code

:

01272440247

Legal Form

:

Joint stock company with sole shareholder

start of Activities

:

20/11/1980

Equity

:

Over 2.582.254

Turnover Range

:

35.000.000/50.000.000

Number of Employees

:

from 111 to 130

 

 

Activity

 

Manufacture of moulds, mould-holders, profiles, shapes for machines

Manufacture of general-purpose machinery and other mechanical products n.e.c.

Manufacture of metal forming machinery

 

 

Legal Data

 

Legal Form : Joint stock company with sole shareholder

Fiscal Code : 01272440247

 

Foreign Trade Reg. no. : VI021431 since 27/12/1991

 

Foreign Trade Reg. no. : 21431 of Vicenza since 27/12/1991

 

Chamber of Commerce no. : 442642 of Bari

 

Chamber of Commerce no. : 479576 of Prato

 

Chamber of Commerce no. : 156983 of Vicenza since 02/12/1980

 

V.A.T. Code : 01272440247

 

Foundation date

: 20/11/1980

Establishment date

: 20/11/1980

Start of Activities

: 20/11/1980

Legal duration

: 31/12/2030

Nominal Capital

: 1.040.000

Subscribed Capital

: 1.040.000

Paid up Capital

: 1.040.000

 

Legal mail :

sisma.certificata@pec.collabra.it

 

 

Members

 

Sbabo Holding S.r.l.

 

 

:

Dell'industria

, 1

- 36013

Piovene Rocchette

(VI)

- IT -

 

Position

Since

Shares Amount

% Ownership

Sole partner

19/05/2011

 

No Prejudicial events are reported

 

No Protests registered

 

Sbabo

Fiorenzo

 

Born in Schio

(VI)

on 21/12/1944

- Fiscal Code : SBBFNZ44T21I531M

 

Residence:

Della Portara

, 73

- 36015

Schio

(VI)

- IT -

 

Position

Since

Shares Amount

% Ownership

Board Chairman

06/09/2013

Director

06/09/2013

Managing Director

06/09/2013

 

No Prejudicial events are reported

 

No Protests registered

 

Papesso

Giovanni

 

Born in Schio

(VI)

on 17/11/1967

- Fiscal Code : PPSGNN67S17I531P

 

Residence:

Baratto

, 56

- 36015

Schio

(VI)

- IT -

 

Position

Since

Shares Amount

% Ownership

Auditor

13/05/2014

 

Cocco

Imelda

 

Born in Malo

(VI)

on 26/09/1941

- Fiscal Code : CCCMLD41P66F486Y

 

Residence:

Della Potara

, 73

- 36015

Schio

(VI)

- IT -

 

Position

Since

Shares Amount

% Ownership

Director

06/09/2013

Managing Director

06/09/2013

 

No Prejudicial events are reported

 

No Protests registered

 

Micheletto

Dino

 

Born in Vicenza

(VI)

on 16/05/1951

- Fiscal Code : MCHDNI51E16L840M

 

Residence:

G. Leopardi

, 37

- 36050

Quinto Vicentino

(VI)

- IT -

 

Position

Since

Shares Amount

% Ownership

Procurator

25/11/2009

Director

06/09/2013

Managing Director

06/09/2013

 

No Prejudicial events are reported

 

No Protests registered

 

Dossi

Fabrizio

 

Born in Valdagno

(VI)

on 16/12/1968

- Fiscal Code : DSSFRZ68T16L551B

 

Residence:

Dello Sport

, 13

- 36031

Dueville

(VI)

- IT -

 

Position

Since

Shares Amount

% Ownership

Procurator

25/11/2009

 

No Prejudicial events are reported

 

No Protests registered

 

Cavalcabo'

Giglielmo

 

Born in Cremona

(CR)

on 31/12/1961

- Fiscal Code : CVLGLL61T31D150P

 

Residence:

P. Bassi

, 15

- 20100

Milano

(MI)

- IT -

 

Position

Since

Shares Amount

% Ownership

Procurator

25/11/2009

 

No Prejudicial events are reported

 

No Protests registered

 

Medici

Silvano

 

Born in Marcon

(VE)

on 13/06/1959

- Fiscal Code : MDCSVN59H13E936B

 

Residence:

Schio

, 34

- 36036

Torrebelvicino

(VI)

- IT -

 

Position

Since

Shares Amount

% Ownership

Procurator

25/11/2009

 

No Prejudicial events are reported

 

No Protests registered

 

Canaglia

Arfeo

 

Born in Fara Vicentino

(VI)

on 05/04/1954

- Fiscal Code : CNGRFA54D05D496G

 

Residence:

Alteo

, 31

- 36030

Fara Vicentino

(VI)

- IT -

 

Position

Since

Shares Amount

% Ownership

Procurator

25/11/2009

 

No Prejudicial events are reported

 

No Protests registered

 

Iacovella

Federico

 

Born in Venezia

(VE)

on 18/02/1970

- Fiscal Code : CVLFRC70B18L736Y

 

Residence:

Torre

, 24

- 36033

Isola Vicentina

(VI)

- IT -

 

Position

Since

Shares Amount

% Ownership

Procurator

10/12/2010

 

No Protests registered

 

Sbabo

Alessandro

 

Born in Schio

(VI)

on 27/01/1977

- Fiscal Code : SBBLSN77A27I531N

 

Residence:

Della Potara

, 73

- 36015

Schio

(VI)

- IT -

 

Position

Since

Shares Amount

% Ownership

Procurator

25/06/2013

 

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.

 

Sbabo

Fiorenzo

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

Sbabo Holding S.r.l.

Piovene Rocchette (VI) - IT -

00295300248

Sole Director

Active

Registered

Sbabo Holding S.r.l.

Piovene Rocchette (VI) - IT -

00295300248

General Partner

Withdrawn

Registered

Golf Club Asiago - S.p.a.

Asiago (VI) - IT -

00286600242

Director

Active

Registered

Golf Club Asiago - S.p.a.

Asiago (VI) - IT -

00286600242

Assistant board Chairman

Active

Registered

Banca Popolare Di Vicenza - Societa' Cooperativa Per Azioni

Vicenza (VI) - IT -

00204010243

Director

Withdrawn

Registered

Banca Popolare Di Vicenza - Societa' Cooperativa Per Azioni

Vicenza (VI) - IT -

00204010243

Memb.of the Executive Committee

Withdrawn

Registered

Fiera Di Vicenza S.p.a.

Vicenza (VI) - IT -

00515900249

Director

Withdrawn

Registered

Immobiliare Stampa Societa' Consortile Per Azioni

Vicenza (VI) - IT -

09422020157

Director

Active

Registered

Veneto Sviluppo S.p.a.

Venezia (VE) - IT -

00854750270

Director

Withdrawn

Registered

Sisma Centro S.r.l.

Arezzo (AR) - IT -

01941960518

Director

Active

Registered

Sisma Centro S.r.l.

Arezzo (AR) - IT -

01941960518

Board Chairman

Active

Registered

Think Laser Srl

Padova (PD) - IT -

03984470280

Director

Withdrawn

Registered

Think Laser Srl

Padova (PD) - IT -

03984470280

Board Chairman

Withdrawn

Registered

Gardenia S.r.l.- In Liquidazione -

Thiene (VI) - IT -

00498390244

Chairman

Withdrawn

Ceased

Gardenia S.r.l.- In Liquidazione -

Thiene (VI) - IT -

00498390244

Managing Director

Withdrawn

Ceased

Gardenia S.r.l.- In Liquidazione -

Thiene (VI) - IT -

00498390244

Liquidator

Withdrawn

Ceased

Marco Polo Holding S.r.l.

Venezia (VE) - IT -

03573100272

Director

Withdrawn

Ceased

Sismalab S.r.l.

Romano d'Ezzelino (VI) - IT -

03172640249

Director

Active

Registered

Sismalab S.r.l.

Romano d'Ezzelino (VI) - IT -

03172640249

Board Chairman

Active

Registered

Banca Nuova S.p.a.

Palermo (PA) - IT -

05940510828

Director

Active

Registered

Banca Nuova S.p.a.

Palermo (PA) - IT -

05940510828

Assistant board Chairman

Active

Registered

 

Micheletto

Dino

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

Sisma Centro S.r.l.

Arezzo (AR) - IT -

01941960518

Director

Active

Registered

Think Laser Srl

Padova (PD) - IT -

03984470280

Director

Active

Registered

Micheletto Dino

Vicenza (VI) - IT -

MCHDNI51E16L840M

Proprietor

-

Ceased

Sismalab S.r.l.

Romano d'Ezzelino (VI) - IT -

03172640249

Director

Active

Registered

Sismalab S.r.l.

Romano d'Ezzelino (VI) - IT -

03172640249

Managing 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.



Capital Shareholders

 

Shareholders' list as at date of data collection:

 

Firm's Style / Name

Seat / Residence

Fiscal Code

Owned Shares

% Ownership

Sbabo Holding S.r.l.

Piovene Rocchette - IT -

00295300248

100,00

 

 

Direct Participations

 

The Company under review has participations in the following Companies:

 

Firm's Style

Seat

Fiscal Code

Owned Shares Amount

% Ownership

since

until

Share Status

Apicaf S.p.a.

Varese - IT -

02522640123

1 .Eur

Active

Trumpf Sisma S.r.l.

Piovene Rocchette - IT -

03896900242

45.000 .Eur

45,00

Active

Sisma Centro S.r.l.

Arezzo - IT -

01941960518

10.000 .Eur

100,00

Active

Sismalab S.r.l.

Romano d'Ezzelino - IT -

03172640249

10.000 .Eur

100,00

Active



Firm's location and structure

 

In order to carry out its activities the firm uses the following locations:

 

-

Legal and operative seat

since 20/11/1980

 

Dell'industria

, 1

- 36013

- Piovene Rocchette

(VI)

- IT -

 

PHONE

: 0445595511

 

PHONE

: 0445595595

 

Legal mail

: SISMA.CERTIFICATA@PEC.COLLABRA.IT

 

-

Branch

(Factory)

since 01/10/1990

 

Lombardia

, 8

- 36015

- Schio

(VI)

- IT -

 

Employees

: 122

 

Fittings and Equipment for a value of 640.000

Eur

 

Stocks for a value of 6.900.000

Eur

 

Furniture and fittings for a value of 86.000

Eur

 

Vehicles for a value of 86.000

Eur

 

Trade organization: direct or by agents.

The company sells in Italy and abroad.

The company 's mainly customers are companies.

The firm operates abroad as importer / exporter..

To purchase foreign products the firm uses the following channels :

- national or foreign important buyers

Export represents more than 50% of the global turnover.

Products abroad are placed by :

- its own sales net-work

 

- its own agents

 

- direct orders from foreign companies

Company generally accepts payments with terms of 60/90 days.

Financial means used for sale: bank transfers and bank orders.

Company's purchase terms are within 90 and 120 days.

Main used payment modalities are by cash orders and bank transfers.

 

Import comes generally from the following nations:

- Cyprus

 

- Italy

 

- Greece

 

- France

 

- Hungary

 

Export is mainly towards:

- Cyprus

 

- Italy

 

- Greece

 

- France

 

- Hungary

 

 

Traded Brands / Suppliers

 

- SCANLAB (Germania)

 

- Sistel s.r.l.

 

 

Historical Information and/or Firm's Status

 

CEASINGS/INCORPORATIONS/MERGES:

 

Project of splitting-up and tranfer into

 

Sbabo Holding S.r.l.

 

Dell'industria

, 1

, 36013

, Piovene Rocchette

(VI)

- IT -

 

Fiscal Code: 00295300248

 

Date

Merging/splitting-up project:

10/06/2011



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.

 

 

Bankers

 

The firm operates with:

 

Bank Name

Agency Name

Address

ZIP Code

City

ABI Code

CAB Code

B.CA NAZIONALE DEL LAVORO SPA

SCHIO

PIAZZA DELLO STATUTO

36015

Schio

1005

60750

BANCA POPOLARE DI VICENZA SCPA

SUCCURSALE DI SCHIO

PIAZZA GARIBALDI 2

36015

Schio

5728

60750

UNICREDIT BANCA SPA

Schio

2008



Financial and Economical Analysis

 

Subject is active since 1980

An eco-fin analysis has been made on the base od the b/s fo the years 2012, 2013 and 2014.

During the last years, it recorded positive net results (r.o.e. 15,39% in 2014) with a remarkable upward trend (+20,46% on 2014 compared to 2013 and +18,92% on 2013 compared to 2012).

The operating result was positive in the last financial year (13,43%) and reflects the field's average.

The operating result is positive and amounts to Eur. 4.947.180 with a 25,32% growth.

A gross operating margine for a value of Eur. 6.016.443 was reached. ,with no change if compared to the year before.

The company has an excellent net worth if compared to its debts, with a low indebtedness (0,36) lower than in 2013.

It's shareholders funds amount to Eur. 19.513.666 on stable levels.

During the last financial year total debts volume reached Eur. 16.450.737 (Eur. 4.393.564 were m/l term ones) with no important change.

Moderate recourse to bank credit while the exposure towards suppliers is rather high but lower than the field average.

It shows a good range of liquidity.

As to due from customers, the average terms are 67,45 days. , that compared to the sector's average is shorter.

Eur. 4.073.382 is the value of cash flow during the year 2014

During 2014 financial year labour costs amounted to Eur. 6.947.693, with a 19,54% incidence on production costs. , with a 17,76% incidence on turnover.

If compared to the sales volume (-0,19%), the impact of the financial charges is limited.



Financial Data

 

Complete balance-sheet for the year

al 31/12/2014

(in Eur

x 1)

 

Item Type

Value

Sales

39.120.634

Profit (Loss) for the period

3.004.119

 

Complete balance-sheet for the year

al 31/12/2013

(in Eur

x 1)

 

Item Type

Value

Sales

32.474.326

Profit (Loss) for the period

2.446.990

 

Complete balance-sheet for the year

al 31/12/2012

(in Eur

x 1)

 

Item Type

Value

Sales

27.305.781

Profit (Loss) for the period

1.419.479

 

Complete balance-sheet for the year

al 31/12/2011

(in Eur

x 1)

 

Item Type

Value

Sales

24.768.224

Profit (Loss) for the period

1.869.588

 

Complete balance-sheet for the year

al 31/12/2010

(in Eur

x 1)

 

Item Type

Value

Sales

23.650.837

Profit (Loss) for the period

1.688.373



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 31/12/2014 - 12 Mesi - Currency: - Amounts x 1

 

- 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

 

Years

2014

2013

2012

BALANCE SHEET ACCOUNTS

 

ASSETS

CREDITS VS PARTNERS

. Deposits not yet withdrawn

. Deposits already withdrawn

Total credits vs partners

FIXED ASSETS

. INTANGIBLE FIXED ASSETS

. . Start-up and expansion expenses

. . Research,develop. and advert.expens.

40.164

17.346

22.786

. . Industrial patent rights

32.205

22.414

38.023

. . Concessions,licenses,trademarks,etc.

. . Goodwill

. . Assets in formation and advance paymen.

. . Other intangible fixed assets

58.773

69.764

37.444

. Total Intangible Fixed Assets

131.142

109.524

98.253

. TANGIBLE FIXED ASSETS

. . Real estate

8.467.856

8.713.658

8.925.642

. . Plant and machinery

558.140

687.723

904.509

. . Industrial and commercial equipment

79.786

62.081

79.390

. . Other assets

509.014

457.807

428.200

. . Assets under construction and advances

. Total Tangible fixed assets

9.614.796

9.921.269

10.337.741

. FINANCIAL FIXED ASSETS

. . Equity investments

2.260.930

871.874

403.993

. . . Equity invest. in subsidiary companies

657.182

658.861

200.980

. . . Equity invest. in associated companies

1.366.360

. . . Equity invest. in holding companies

. . . Equity invest. in other companies

237.388

213.013

203.013

. . Financial receivables

290.762

336.380

336.380

. . . . Within 12 months

290.762

336.380

336.380

. . . . Beyond 12 months

. . . Receivab due from subsidiaries

290.762

336.380

336.380

. . . . Within 12 months

290.762

336.380

336.380

. . . . Beyond 12 months

. . . Receivables due from assoc.comp.

. . . . Within 12 months

. . . . Beyond 12 months

. . . Receivables due from holding comp.

. . . . Within 12 months

. . . . Beyond 12 months

. . . Receivables due from third parties

. . . . Within 12 months

. . . . Beyond 12 months

. . Other securities

. . Own shares

. . . Total nominal value

. Total financial fixed assets

2.551.692

1.208.254

740.373

Total fixed assets

12.297.630

11.239.047

11.176.367

CURRENT ASSETS

. INVENTORIES

. . Raw materials and other consumables

1.535.063

1.367.489

1.278.441

. . Work in progress and semimanufactured

3.330.944

2.324.891

1.870.010

. . Work in progress on order

. . Finished goods

2.034.652

1.688.378

1.323.181

. . Advance payments

. Total Inventories

6.900.659

5.380.758

4.471.632

. CREDITS NOT HELD AS FIXED ASSETS

. . Within 12 months

12.441.164

12.158.412

9.764.659

. . Beyond 12 months

5.764

239.733

158.116

. . Trade receivables

7.329.844

8.154.775

6.297.709

. . . . Within 12 months

7.329.844

8.154.775

6.297.709

. . . . Beyond 12 months

. . Receivables due from subsid. comp.

3.897.317

3.411.789

3.045.893

. . . . Within 12 months

3.897.317

3.411.789

3.045.893

. . . . Beyond 12 months

. . Receivables due from assoc. comp.

92.890

. . . . Within 12 months

92.890

. . . . Beyond 12 months

. . Receivables due from holding comp.

. . . . Within 12 months

. . . . Beyond 12 months

. . Fiscal Receivables

561.702

494.106

247.685

. . . . Within 12 months

561.702

494.106

247.685

. . . . Beyond 12 months

. . Receivables for anticipated taxes

418.225

233.969

152.352

. . . . Within 12 months

418.225

. . . . Beyond 12 months

233.969

152.352

. . Receivables due from third parties

146.950

103.506

179.136

. . . . Within 12 months

141.186

97.742

173.372

. . . . Beyond 12 months

5.764

5.764

5.764

. Total Credits not held as fixed assets

12.446.928

12.398.145

9.922.775

. FINANCIAL ASSETS

. . Equity invest. in subsidiary comp.

. . Equity invest. in associated companies

. . Equity invest. in holding companies

. . Other equity investments

. . Own shares

. . . Total nominale value

. . Other securities

10.000

10.000

. Total Financial Assets

10.000

10.000

. LIQUID FUNDS

. . Bank and post office deposits

5.124.708

4.088.693

2.376.125

. . Checks

. . Banknotes and coins

3.935

21.494

10.060

. Total Liquid funds

5.128.643

4.110.187

2.386.185

Total current assets

24.486.230

21.899.090

16.780.592

ADJUSTMENT ACCOUNTS

. Discount on loans

54.669

101.336

47.192

. Other adjustment accounts

Total adjustments accounts

54.669

101.336

47.192

TOTAL ASSETS

36.838.529

33.239.473

28.004.151

LIABILITIES

STOCKHOLDERS' EQUITY

. Capital stock

1.040.000

1.040.000

1.040.000

. Additional paid-in capital

. Revaluation reserves

2.468.082

2.468.082

2.468.082

. Legal reserve

208.000

208.000

208.000

. Reserve for Own shares

. Statute reserves

. Other reserves

12.793.465

10.585.676

9.332.597

. Accumulated Profits (Losses)

. Profit( loss) of the year

3.004.119

2.446.990

1.419.479

. Advances on dividends

. Partial loss of the year Coverage

Total Stockholders'Equity

19.513.666

16.748.748

14.468.158

RESERVES FOR RISKS AND CHARGES

. . Reserve for employee termination indem.

. . Taxation fund, also differed

12.263

25.271

45.279

. . Other funds

298.141

554.074

266.513

Total Reserves for Risks and Charges

310.404

579.345

311.792

Employee termination indemnities

550.001

630.841

757.770

ACCOUNTS PAYABLE

. . . . Within 12 months

12.057.173

10.512.679

8.588.535

. . . . Beyond 12 months

4.393.564

4.751.858

3.874.628

. . Bonds

. . . . Within 12 months

. . . . Beyond 12 months

. . Convertible bonds repayable

. . . . Within 12 months

. . . . Beyond 12 months

. . Due to shareholders for financing

. . . . Within 12 months

. . . . Beyond 12 months

. . Due to banks

5.743.592

6.161.537

5.045.327

. . . . Within 12 months

1.400.028

1.459.679

1.170.699

. . . . Beyond 12 months

4.343.564

4.701.858

3.874.628

. . Due to other providers of finance

. . . . Within 12 months

. . . . Beyond 12 months

. . Advances from customers

902.226

1.048.445

1.072.495

. . . . Within 12 months

902.226

1.048.445

1.072.495

. . . . Beyond 12 months

. . Trade payables

6.788.388

5.404.577

4.605.727

. . . . Within 12 months

6.788.388

5.404.577

4.605.727

. . . . Beyond 12 months

. . Securities issued

37.518

. . . . Within 12 months

37.518

. . . . Beyond 12 months

. . Due to subsidiary companies

384.906

604.053

519.056

. . . . Within 12 months

384.906

604.053

519.056

. . . . Beyond 12 months

. . Due to associated companies

263.333

. . . . Within 12 months

263.333

. . . . Beyond 12 months

. . Due to holding companies

. . . . Within 12 months

. . . . Beyond 12 months

. . Due to the tax authorities

709.429

890.532

267.236

. . . . Within 12 months

709.429

890.532

267.236

. . . . Beyond 12 months

. . Due to social security and welfare inst.

432.359

407.950

352.505

. . . . Within 12 months

432.359

407.950

352.505

. . . . Beyond 12 months

. . Other payables

1.226.504

747.443

563.299

. . . . Within 12 months

1.176.504

697.443

563.299

. . . . Beyond 12 months

50.000

50.000

Total accounts payable

16.450.737

15.264.537

12.463.163

ADJUSTMENT ACCOUNTS

. Agio on loans

. Other adjustment accounts

13.721

16.002

3.268

Total adjustment accounts

13.721

16.002

3.268

TOTAL LIABILITIES

36.838.529

33.239.473

28.004.151

 

 

 

 

 

MEMORANDUM ACCOUNTS

 

Third party goods

Investment accounts

405.638

138.695

65.907

Risk accounts

32.550

5.186.900

5.201.900

Civil and fiscal norms relation

 

 

 

 

 

PROFIT AND LOSS ACCOUNTS

 

VALUE OF PRODUCTION

. Revenues from sales and services

39.120.634

32.474.326

27.305.781

. Changes in work in progress

1.018.246

724.135

898.732

. Changes in semi-manufact. products

. Capitalization of internal work

. Other income and revenues

369.665

309.858

531.496

. . Contributions for operating expenses

29.000

51.497

170.698

. . Different income and revenues

340.665

258.361

360.798

Total value of production

40.508.545

33.508.319

28.736.009

PRODUCTION COSTS

. Raw material,other materials and consum.

19.953.567

16.494.672

14.345.256

. Services received

. Leases and rentals

7.914.321

5.721.502

5.530.227

. Payroll and related costs

6.947.693

6.088.108

5.708.361

. . Wages and salaries

5.086.125

4.406.844

4.155.667

. . Social security contributions

1.568.069

1.411.694

1.298.287

. . Employee termination indemnities

293.499

269.570

254.407

. . Pension and similar

. . Other costs

. Amortization and depreciation

1.069.263

1.079.371

829.939

. . Amortization of intangible fixed assets

97.746

90.322

68.785

. . Amortization of tangible fixed assets

591.108

623.943

641.111

. . Depreciation of tangible fixed assets

. . Writedown of current receiv.and of liquid

380.409

365.106

120.043

. Changes in raw materials

-501.655

-184.991

-263.862

. Provisions to risk reserves

202.250

. Other provisions

. Other operating costs

178.176

159.889

121.335

Total production costs

35.561.365

29.560.801

26.271.256

Diff. between value and cost of product.

4.947.180

3.947.518

2.464.753

FINANCIAL INCOME AND EXPENSE

. Income from equity investments

1.600

. . In subsidiary companies

. . In associated companies

. . In other companies

1.600

. Other financial income

48.764

75.978

31.281

. . Financ.income from receivables

. . . Towards subsidiary companies

. . . Towards associated companies

. . . Towards holding companies

. . . Towards other companies

. . Financ.income from secur. t.f.assets

. . Financ.income from secur. cur.assets

505

39.068

. . Financ.income other than the above

48.259

36.910

31.281

. . . - Subsidiary companies

. . . - Associated companies

. . . - Holding companies

. . . - Other companies

48.259

36.910

31.281

. Interest and other financial expense

-123.239

-142.675

-66.887

. . Towards subsidiary companies

. . Towards associated companies

. . Towards holding companies

-245

. . Towards other companies

123.239

142.675

66.887

Total financial income and expense

-74.475

-65.097

-35.606

ADJUSTMENTS TO FINANCIAL ASSETS

. Revaluations

. . Of equity investments

. . Of financ.fixed assets not repres.E.I.

. . Of securities incl.among current assets

. Devaluation

-325.044

-212.766

-160.753

. . Of equity investments

-325.044

-212.766

-160.753

. . Of financial fixed assets (no equity inv)

. . Of securities included among current ass

Total adjustments to financial assets

-325.044

-212.766

-160.753

EXTRAORDINARY INCOME AND EXPENSE

. Extraordinary income

189.709

235.422

56.394

. . Gains on disposals

. . Other extraordinary income

189.709

235.422

56.394

. Extraordinary expense

-1

. . Losses on disposals

. . Taxes relating to prior years

. . Other extraordinary expense

-1

Total extraordinary income and expense

189.708

235.422

56.394

Results before income taxes

4.737.369

3.905.077

2.324.788

. Taxes on current income

1.733.250

1.458.087

905.309

. . current taxes

1.930.515

1.559.712

953.230

. . differed taxes(anticip.)

-197.265

-101.625

-47.921

. Net income for the period

3.004.119

2.446.990

1.419.479

. Adjustments in tax regulations pursuance

. Provisions in tax regulations pursuance

. Profit (loss) of the year

3.004.119

2.446.990

1.419.479

 

RATIOS

Value Type

as at 31/12/2014

as at 31/12/2013

as at 31/12/2012

Sector Average

COMPOSITION ON INVESTMENT

Rigidity Ratio

Units

0,33

0,34

0,40

0,17

Elasticity Ratio

Units

0,66

0,66

0,60

0,80

Availability of stock

Units

0,19

0,16

0,16

0,27

Total Liquidity Ratio

Units

0,48

0,50

0,44

0,50

Quick Ratio

Units

0,14

0,12

0,09

0,03

COMPOSITION ON SOURCE

Net Short-term indebtedness

Units

0,36

0,38

0,43

3,14

Self Financing Ratio

Units

0,53

0,50

0,52

0,19

Capital protection Ratio

Units

0,79

0,79

0,83

0,68

Liabilities consolidation quotient

Units

0,41

0,51

0,54

0,18

Financing

Units

0,84

0,91

0,86

3,79

Permanent Indebtedness Ratio

Units

0,66

0,67

0,68

0,34

M/L term Debts Ratio

Units

0,13

0,16

0,17

0,09

Net Financial Indebtedness Ratio

Units

0,03

0,12

0,18

0,77

CORRELATION

Fixed assets ratio

Units

1,99

1,97

1,71

1,75

Current ratio

Units

2,03

2,08

1,95

1,23

Acid Test Ratio-Liquidity Ratio

Units

1,46

1,57

1,43

0,78

Structure's primary quotient

Units

1,59

1,49

1,29

1,04

Treasury's primary quotient

Units

0,43

0,39

0,28

0,05

Rate of indebtedness ( Leverage )

%

188,78

198,46

193,56

518,96

Current Capital ( net )

Value

12.429.057

11.386.411

8.192.057

406.983

RETURN

Return on Sales

%

10,41

10,86

8,24

3,69

Return on Equity - Net- ( R.O.E. )

%

15,39

14,61

9,81

5,16

Return on Equity - Gross - ( R.O.E. )

%

24,28

23,32

16,07

17,72

Return on Investment ( R.O.I. )

%

13,43

11,88

8,80

3,94

Return/ Sales

%

12,65

12,16

9,03

4,48

Extra Management revenues/charges incid.

%

60,72

61,99

57,59

26,52

Cash Flow

Value

4.073.382

3.526.361

2.249.418

142.024

Operating Profit

Value

4.947.180

3.947.518

2.464.753

126.602

Gross Operating Margin

Value

6.016.443

5.229.139

3.294.692

241.461

MANAGEMENT

Credits to clients average term

Days

67,45

90,40

83,03

116,01

Debts to suppliers average term

Days

96,07

97,37

93,50

127,79

Average stock waiting period

Days

63,50

59,65

58,95

96,89

Rate of capital employed return ( Turnover )

Units

1,06

0,98

0,98

1,03

Rate of stock return

Units

5,67

6,04

6,11

3,58

Labour cost incidence

%

17,76

18,75

20,91

21,20

Net financial revenues/ charges incidence

%

-0,19

-0,20

-0,13

-1,00

Labour cost on purchasing expenses

%

19,54

20,60

21,73

20,95

Short-term financing charges

%

0,75

0,93

0,54

2,70

Capital on hand

%

94,17

102,36

102,56

96,90

Sales pro employee

Value

180.279

170.917

153.403

191.520

Labour cost pro employee

Value

32.017

32.042

32.069

39.641

 

 

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

:

831.356

Population living in the region

:

4.699.950

Number of families in the region

:

1.813.210

 

Monthly family expences average in the region (in Eur..) :

 

- per food products

:

456

- per non food products

:

2.052

- per energy consume

:

127

 

 

Sector Data

 

The values are calculated on a base of 45 significant companies.

The companies cash their credits on an average of 116 dd.

The average duration of suppliers debts is about 128 dd.

The sector's profitability is on an average of 3,69%.

The labour cost affects the turnover in the measure of 21,20%.

Goods are held in stock in a range of 97 dd.

The difference between the sales volume and the resources used to realize it is about 1,03.

The employees costs represent the 20,95% of the production costs.

 

Statistical Detrimental Data

 

Statistcally the trade activity shows periods of crisis.

The area is statistically considered lowly risky.

In the region 13.782 protested subjects are found; in the province they count to 2.234.

The insolvency index for the region is 0,30, , while for the province it is 0,27.

Total Bankrupt companies in the province : 2.546.

Total Bankrupt companies in the region : 16.714.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.66

UK Pound

1

Rs.100.50

Euro

1

Rs.71.31

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

Report Prepared by :

NIT

 

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.