MIRA INFORM REPORT
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Report No. : |
313221 |
|
Report Date : |
18.03.2015 |
IDENTIFICATION DETAILS
|
Name : |
ALCHEM S.R.L. |
|
|
|
|
Registered Office : |
Via Malpaga, 85 25070 – Casto (BS) |
|
|
|
|
Country : |
Italy |
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|
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
14.02.2003 |
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Legal Form : |
Sole-Member Limited Liability Company |
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|
|
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Line of Business : |
Production of abrasive products |
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No of Employees : |
From 6 to 10 |
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 |
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Payment Behaviour : |
No Complaints |
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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 Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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
|
Alchem S.r.l. |
|
Via |
Malpaga, |
85 |
|
25070 |
- Casto |
(BS) |
-IT- |
Summary
|
Fiscal Code |
: |
02310490988 |
|
Legal Form |
: |
Sole-Member Limited Liability Company |
|
start of Activities |
: |
14/02/2003 |
|
Equity |
: |
80.000 |
|
Turnover Range |
: |
2.250.000/3.000.000 |
|
Number of Employees |
: |
fom 6 to 10 |
Activity
Production of abrasive products
Legal
Data
Legal Form : Sole-Member Limited Liability
Company
|
Register of Handcraft firms : 144274 |
|
Register of Handcraft firms : 144274 of
Brescia |
|
Fiscal Code : 02310490988 |
|
Foreign Trade Reg. no. : BS085420 since
06/02/2004 |
|
Chamber of Commerce no. : 438668 of
Brescia since 19/06/2002 |
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V.A.T. Code : 02310490988 |
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Establishment date |
: 05/06/2002 |
|
|
Start of Activities |
: 14/02/2003 |
|
|
Legal duration |
: 31/12/2020 |
|
|
Nominal Capital |
: 10.000 |
|
|
Subscribed Capital |
: 10.000 |
|
|
Paid up Capital |
: 10.000 |
Members
|
|
Freddi |
Amos |
|
|
Born in Gardone Val Trompia |
(BS) |
on 09/02/1975 |
- Fiscal Code : FRDMSA75B09D918S |
|
|
Residence: |
Famea |
, 43 |
- 25070 |
Casto |
(BS) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Working partner |
01/10/2003 |
||
|
Sole Director |
01/09/2011 |
||
|
Sole partner |
29/11/2012 |
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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 |
|
Freddi Amos |
Casto - IT - |
FRDMSA75B09D918S |
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 |
|
Malpaga |
, 85 |
- 25070 |
- Casto |
(BS) |
- IT - |
|
Employees |
: 7 |
|
Assistants |
: 1 |
|
Fittings and Equipment for a value of
65.000 |
Eur |
|
Stocks for a value of 160.000 |
Eur |
Historical
Information and/or Firm's Status
EX-MEMBERS /
EX-POSITIONS:
|
|
Freddi |
Amos |
|
|
Born in Gardone Val Trompia |
(BS) |
on 09/02/1975 |
- Fiscal Code : FRDMSA75B09D918S |
|
|
Residence: |
Famea |
, 43 |
- 25070 |
Casto |
(BS) |
- IT - |
|
Ex-Postions |
|
Director |
|
Board Chairman |
|
Managing Director |
|
|
Freddi |
Andrea |
|
|
Born in Gardone Val Trompia |
(BS) |
on 08/05/1978 |
- Fiscal Code : FRDNDR78E08D918P |
|
Ex-Postions |
|
Director |
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 2003.
The eonomic-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 110,34% in 2013 and during
the last financial year an increase in sales volume was registered (+16,21% in
2013).
The operating result was positive in the
last financial year (8,86%) falling within the field's average.
The amount of the operating result is equal
to Eur. 128.874 with an increase of 86,34% if the compared to the previous
financial year.
The gross operating margin of the latest
financial year is of Eur. 133.155 with a 84% growth.
Net worth does not allow a regular
management, short-term debts volume is considerably high, with an high
indebtedness volume on the whole (13,38) which tends downward.
The management generated equity capital for
an amount of Eur. 73.089 , with an upward trend.
In the year 2013 total debts amounted to
Eur. 1.268.020 increasing if compared to the previous year, during which they
were equal to Eur. 903.491 (40,34%).
Liquidity is good.
During financial year 2013 the cash flow
amounted to Eur. 84.926
During 2013 financial year labour costs
amounted to Eur. 213.452, with a 9,84% incidence on production costs. , whereas
9,48% is the incidence on sales revenues.
The incidence of the financial charges is of
-0,95% on the sales amount.
Financial
Data
|
|
Complete balance-sheet for the year |
al 31/12/2013 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
2.251.207 |
|
Profit (Loss) for the period |
80.645 |
|
|
Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
1.937.041 |
|
Profit (Loss) for the period |
36.359 |
|
|
Complete balance-sheet for the year |
al 31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
2.023.093 |
|
Profit (Loss) for the period |
69.319 |
|
|
Complete balance-sheet for the year |
al 31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
1.848.353 |
|
Profit (Loss) for the period |
30.370 |
|
|
Complete balance-sheet for the year |
al 31/12/2009 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
1.335.598 |
|
Profit (Loss) for the period |
-24.380 |
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
|
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 |
0,25 |
0,11 |
0,10 |
0,25 |
|
Elasticity Ratio |
Units |
0,75 |
0,89 |
0,89 |
0,72 |
|
Availability of stock |
Units |
0,11 |
0,18 |
0,18 |
0,16 |
|
Total Liquidity Ratio |
Units |
0,64 |
0,71 |
0,71 |
0,52 |
|
Quick Ratio |
Units |
0,01 |
0,06 |
0,04 |
0,02 |
|
COMPOSITION ON
SOURCE |
|||||
|
Net Short-term indebtedness |
Units |
13,38 |
15,67 |
15,73 |
2,14 |
|
Self Financing Ratio |
Units |
0,05 |
0,05 |
0,05 |
0,24 |
|
Capital protection Ratio |
Units |
0,56 |
0,09 |
0,53 |
0,66 |
|
Liabilities consolidation quotient |
Units |
0,34 |
0,10 |
0,12 |
0,19 |
|
Financing |
Units |
17,35 |
17,70 |
17,55 |
2,88 |
|
Permanent Indebtedness Ratio |
Units |
0,28 |
0,13 |
0,15 |
0,41 |
|
M/L term Debts Ratio |
Units |
0,23 |
0,08 |
0,10 |
0,07 |
|
Net Financial Indebtedness Ratio |
Units |
n.c. |
n.c. |
n.c. |
0,85 |
|
CORRELATION |
|||||
|
Fixed assets ratio |
Units |
1,12 |
1,21 |
1,39 |
1,37 |
|
Current ratio |
Units |
1,11 |
1,11 |
1,12 |
1,16 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
0,95 |
0,88 |
0,89 |
0,83 |
|
Structure's primary quotient |
Units |
0,20 |
0,46 |
0,47 |
1,00 |
|
Treasury's primary quotient |
Units |
0,01 |
0,07 |
0,04 |
0,04 |
|
Rate of indebtedness ( Leverage ) |
% |
1990,73 |
2086,38 |
2051,16 |
414,11 |
|
Current Capital ( net ) |
Value |
107.237 |
91.353 |
113.582 |
371.408 |
|
RETURN |
|||||
|
Return on Sales |
% |
3,77 |
2,04 |
3,62 |
3,75 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
110,34 |
71,23 |
116,14 |
6,64 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
147,02 |
118,72 |
150,77 |
13,86 |
|
Return on Investment ( R.O.I. ) |
% |
8,86 |
6,49 |
8,90 |
4,28 |
|
Return/ Sales |
% |
5,72 |
3,57 |
5,39 |
3,86 |
|
Extra Management revenues/charges incid. |
% |
62,58 |
52,57 |
63,60 |
29,40 |
|
Cash Flow |
Value |
84.926 |
39.564 |
73.297 |
109.780 |
|
Operating Profit |
Value |
128.874 |
69.160 |
108.991 |
124.512 |
|
Gross Operating Margin |
Value |
133.155 |
72.365 |
112.969 |
223.896 |
|
MANAGEMENT |
|||||
|
Credits to clients average term |
Days |
n.c. |
n.c. |
n.c. |
127,69 |
|
Debts to suppliers average term |
Days |
n.c. |
n.c. |
n.c. |
125,84 |
|
Average stock waiting period |
Days |
24,80 |
35,53 |
38,79 |
58,52 |
|
Rate of capital employed return ( Turnover
) |
Units |
1,55 |
1,82 |
1,65 |
1,12 |
|
Rate of stock return |
Units |
14,52 |
10,13 |
9,28 |
6,15 |
|
Labour cost incidence |
% |
9,48 |
9,56 |
10,41 |
17,01 |
|
Net financial revenues/ charges incidence |
% |
-0,95 |
-1,00 |
-0,94 |
-1,30 |
|
Labour cost on purchasing expenses |
% |
9,84 |
9,84 |
10,66 |
17,33 |
|
Short-term financing charges |
% |
1,70 |
2,15 |
1,81 |
2,67 |
|
Capital on hand |
% |
64,63 |
54,98 |
60,52 |
88,59 |
|
Sales pro employee |
Value |
375.201 |
387.408 |
337.182 |
216.094 |
|
Labour cost pro employee |
Value |
35.575 |
37.040 |
35.104 |
33.994 |
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 99
significant companies.
The companies cash their credits on an
average of 128 dd.
The average duration of suppliers debts is about
126 dd.
The sector's profitability is on an average
of 3,75%.
The labour cost affects the turnover in the
measure of 17,01%.
Goods are held in stock in a range of 59 dd.
The difference between the sales volume and
the resources used to realize it is about 1,12.
The employees costs represent the 17,33% of
the production costs.
Statistical
Detrimental Data
Statistcally the trade activity shows
periods of crisis.
The area is statistically considered
moderately risky.
In the region 50.886 protested subjects are
found; in the province they count to 5.551.
The insolvency index for the region is 0,55,
, while for the province it is 0,48.
Total Bankrupt companies in the province :
3.452.
Total Bankrupt companies in the region :
39.612.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 62.69 |
|
|
1 |
Rs. 92.99 |
|
Euro |
1 |
Rs. 66.37 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
DPT |
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.