MIRA INFORM REPORT

 

 

Report No. :

-----

Report Date :

18.03.2015

 

IDENTIFICATION DETAILS

 

Name :

INTER-KOM S.P.A

 

 

Registered Office :

Via Bernini, 20,

80129 - Napoli (NA)

 

 

Country :

Italy

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

26.04.1977

 

 

Legal Form :

Joint Stock Company

 

 

Line of Business :

·         Wholesaler of sugar and chocolate and sugar confectionery

·         Wholesaler of coffee, tea, cocoa and spices

·         Retail sale of cakes, sweets and confectionery

 

 

No of Employees :

07

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

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 – 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

 

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

 

Inter-kom S.p.a.

 

Via Bernini, 20

 

80129 - Napoli (NA) -IT-

 

 

Summary

 

Fiscal Code

:

01347530634

Legal Form

:

Joint stock company

start of Activities

:

02/05/1978

Equity

:

Over 2.582.254

Turnover Range

:

25.000.000/35.000.000

Number of Employees

:

07

 

 

Activity

 

Wholesale of sugar and chocolate and sugar confectionery

Wholesale of coffee, tea, cocoa and spices

Retail sale of cakes, sweets and confectionery

 

Legal Data

 

Legal Form : Joint stock company

Fiscal Code : 01347530634

 

Foreign Trade Reg. no. : NA002611 since 23/01/1992

 

Chamber of Commerce no. : 331355 of Genova

 

Chamber of Commerce no. : 306075 of Napoli since 19/05/1977

 

Firms' Register : NA049-1977-883 of Napoli since 19/02/1996

 

V.A.T. Code : 01347530634

 

Foundation date

: 26/04/1977

Establishment date

: 26/04/1977

Start of Activities

: 02/05/1978

Legal duration

: 31/12/2100

Nominal Capital

: 108.465

Subscribed Capital

: 108.465

Paid up Capital

: 108.465

 

Members

 

Delehaye

Alfredo

 

Born in Napoli

(NA)

on 08/05/1949

- Fiscal Code : DLHLRD49E08F839V

 

Residence:

Suarez

, 38

- 80129

Napoli

(NA)

- IT -

 

Position

Since

Shares Amount

% Ownership

Sole Director

30/05/2013

 

No Prejudicial events are reported

 

No Protests registered

 

Presta

Anna

 

 

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 are listed the companies in which members hold or have holded positions.

 

Delehaye

Alfredo

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

Racam Srl

Gragnano (NA) - IT -

03303970630

Chairman of the Board of Aud.

Active

Registered

Industria Meccanica Varricchio - I.me.va. S.p.a.

Benevento (BN) - IT -

00041200627

Director

Withdrawn

Registered

Industria Meccanica Varricchio - I.me.va. S.p.a.

Benevento (BN) - IT -

00041200627

Permanent Auditor

Withdrawn

Registered

Industria Meccanica Varricchio - I.me.va. S.p.a.

Benevento (BN) - IT -

00041200627

Board Chairman

Withdrawn

Registered

* Ceccarelli Legnami S.r.l.

Cervinara (AV) - IT -

01595050640

Temporary Auditor

Active

Registered

Fonderie Pisano E C. - S.p.a.

Salerno (SA) - IT -

00181930652

Chairman of the Board of Aud.

Active

Registered

S. Passalacqua S.p.a.

Casavatore (NA) - IT -

00267980639

Permanent Auditor

Withdrawn

Registered

Kimbo S.p.a.

Napoli (NA) - IT -

00275560639

Permanent Auditor

Withdrawn

Registered

Tarquinio Vessa - S.r.l.

Salerno (SA) - IT -

00071620652

Permanent Auditor

Withdrawn

In liquidation

Carlo Gallinoro E Figli S.r.l.

Napoli (NA) - IT -

04194210631

Chairman of the Board of Aud.

Active

Registered

Carlo Gallinoro E Figli S.r.l.

Napoli (NA) - IT -

04194210631

Permanent Auditor

Active

Registered

Burrificio La Goccia Bianca S.r.l. InSigla La Goccia Bianca S .r.l.

Agerola (NA) - IT -

05491210638

Chairman of the Board of Aud.

Active

Registered

Ga. Fi. S.r.l. In Liquidazione

Casalnuovo di Napoli (NA) - IT -

05779460632

Chairman of the Board of Aud.

Withdrawn

Bankrupt

Ecopolimeri S.r.l.

Napoli (NA) - IT -

06176740634

Temporary Auditor

Withdrawn

Registered

Liguori Editore S.r.l.

Napoli (NA) - IT -

00273040634

Permanent Auditor

Withdrawn

Registered

Tim S.r.l.

Benevento (BN) - IT -

00607220621

Chairman of the Board of Aud.

Withdrawn

Registered

Antonio Amato E C.molini E Pastifici InSalerno S.p.a. In Liquida Zione

Salerno (SA) - IT -

00170860654

Permanent Auditor

-

Bankrupt

Antonio Amato E C.molini E Pastifici InSalerno S.p.a. In Liquida Zione

Salerno (SA) - IT -

00170860654

Temporary Auditor

Withdrawn

Bankrupt

Societa' Industriale Prefabbricati Armati-sipa S.p.a.

Benevento (BN) - IT -

00040740623

Permanent Auditor

Active

Registered

Del Bo S.p.a.

Napoli (NA) - IT -

00507550630

Chairman of the Board of Aud.

Withdrawn

Registered

DUILIO MORI S.A.S. DI ANNA AMBROSIO

Napoli (NA) - IT -

03337260636

Chairman of the Board of Aud.

Withdrawn

Ceased

La Cartotecnica Meridionale S.r.l.

Torre del Greco (NA) - IT -

03266130636

Chairman of the Board of Aud.

Withdrawn

Registered

SOGEFA S.R.L.

Napoli (NA) - IT -

03459880633

Chairman of the Board of Aud.

Withdrawn

Registered

Industria Lattiero Casearia La Mediterranea S.p.a.

Napoli (NA) - IT -

04022900635

Chairman of the Board of Aud.

Active

Registered

Arredo Sud S.r.l.

Sant'Antimo (NA) - IT -

05773420632

Chairman of the Board of Aud.

-

Bankrupt

Del Bo Impianti S.r.l.

Napoli (NA) - IT -

06224510633

Temporary Auditor

Withdrawn

Registered

D'amato Di Navigazione S.p.a.

Napoli (NA) - IT -

06294230633

Temporary Auditor

Withdrawn

Registered

Pastificio Lucio Garofalo S.p.a

Gragnano (NA) - IT -

03320410651

Chairman of the Board of Aud.

Withdrawn

Registered

Pastificio Lucio Garofalo S.p.a

Gragnano (NA) - IT -

03320410651

Temporary Auditor

Withdrawn

Registered

Plus Societa' Agricola S.r.l.

Sessa Aurunca (CE) - IT -

01578900613

Permanent Auditor

Withdrawn

Registered

Impresit S.p.a.

Casoria (NA) - IT -

03372951214

Chairman of the Board of Aud.

Active

Registered

Sideralba S.p.a

Acerra (NA) - IT -

02731591216

Chairman of the Board of Aud.

Active

Registered

I.s.o. - S.r.l.

Napoli (NA) - IT -

03312121217

Chairman of the Board of Aud.

Withdrawn

Registered

N.e.m.-nuova Edilizia Monumentale Srl

Napoli (NA) - IT -

01421160639

Chairman of the Board of Aud.

Withdrawn

Registered

A.c.m. S.p.a. - Azienda Commerciale Meridionale.

Torre del Greco (NA) - IT -

05122940637

Chairman of the Board of Aud.

Active

Registered

Immobiliare Campania - I.cam. S.r.l. InLiquidazione

Napoli (NA) - IT -

01262170630

Permanent Auditor

Withdrawn

Ceased

Del Bo Servizi S.p.a.

Milano (MI) - IT -

06271420637

Permanent Auditor

Withdrawn

Registered

Curat Et Sanat S.r.l.

Telese Terme (BN) - IT -

00077310621

Chairman of the Board of Aud.

Active

Registered

Curat Et Sanat S.r.l.

Telese Terme (BN) - IT -

00077310621

Permanent Auditor

Withdrawn

Registered

Percorsi - S.p.a.

Roma (RM) - IT -

06026441003

Chairman of the Board of Aud.

Withdrawn

Registered

Mandara Group S.p.a.

Napoli (NA) - IT -

03893791214

Chairman of the Board of Aud.

Active

Registered

Expom S.r.l.

Scafati (SA) - IT -

04472660655

Chairman of the Board of Aud.

Withdrawn

Registered

Imperati Group Srl

Agerola (NA) - IT -

05419570964

Permanent Auditor

Active

Registered

Gommisti E Gommisti S.p.a

Casoria (NA) - IT -

05001631216

Chairman of the Board of Aud.

Active

Registered

Starcom Veicoli Industriali S.r.l.

Afragola (NA) - IT -

04837151218

Chairman of the Board of Aud.

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

Rubino Michele

Napoli - IT -

RBNMHL49C04F839T

18.077 .Eur

16,66

Presta Anna

PRSNNA32P48F839S

36.155 .Eur

33,33

Rubino Paola

Napoli - IT -

RBNPLA64M61F839J

12.085 .Eur

11,13

Rubino Maria

Napoli - IT -

RBNMRA61E55F839K

18.077 .Eur

16,66

Evangelista Gerardo

VNGGRD78C24F839O

6.093 .Eur

5,60

Evangelista Luigi

VNGLGU73E30F839J

6.093 .Eur

5,60

Amabile Luca

MBLLCU83E19F839E

6.093 .Eur

5,60

Amabile Roberto

MBLRRT85L23F839W

6.093 .Eur

5,60

 

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

 

Bernini

, 20

- 80100

- Napoli

(NA)

- IT -

 

PHONE

: 0815780079

 

FAX

: 0815564504

 

Email

: info@interkom.it

 

Website

: www.interkom.it

 

-

Branch

since 13/02/1992

until 31/12/2009

 

Peschiera

, 4-2

- 16100

- Genova

(GE)

- IT -

 

PHONE

: 0108399090

 

-

Branch

(Representative office)

since 11/08/2011

 

Strada Le Thanh Ton

, 2BIS 4-6

- Ho Chi Minh

- IT -

 

-

Branch

(Warehouse)

since 30/11/2011

 

Bosco Fangone Lotto D

, 201-202

- 80035

- Nola

(NA)

- IT -

 

Employees

: 7

 

Fittings and Equipment for a value of 41.000

Eur

 

Stocks for a value of 1.920.000

Eur

 

for a value of 77.000

Eur

 

Vehicles for a value of 10.000

Eur

 

for a value of 26.000

Eur

 

Trade organization: direct or by agents.

The firm operates abroad as importer / exporter..

To purchase foreign products the firm uses the following channels :

- direct orders to foreign companies

Export represents up to 20% of the global turnover.

Products abroad are placed by :

- its own agents

 

Import comes generally from the following nations:

- Holland

 

- Germany

 

- Great Britain

 

- Poland

 

- France

 

- Cyprus

 

 

Historical Information and/or Firm's Status

 

EX-MEMBERS / EX-POSITIONS:

 

Mannato

Fabrizio

 

Born in Pozzuoli

(NA)

on 09/09/1957

- Fiscal Code : MNNFRZ57P09G964T

 

Residence:

Francesco Caracciolo

, 15

- 80122

Napoli

(NA)

- IT -

 

Ex-Postions

Director

Managing Director

 

Delehaye

Alfredo

 

Born in Napoli

(NA)

on 08/05/1949

- Fiscal Code : DLHLRD49E08F839V

 

Residence:

Suarez

, 38

- 80129

Napoli

(NA)

- IT -

 

Ex-Postions

Board Chairman

Managing Director

 

Rubino

Michele

 

Born in Napoli

(NA)

on 04/03/1949

- Fiscal Code : RBNMHL49C04F839T

 

Residence:

Luigia Sanfelice

, 16

- 80127

Napoli

(NA)

- IT -

 

Ex-Postions

Sole Director

 

Rubino

Maria

 

Born in Napoli

(NA)

on 15/05/1961

- Fiscal Code : RBNMRA61E55F839K

 

Residence:

Stazio

, 15

- 80127

Napoli

(NA)

- IT -

 

Ex-Postions

Attorney with special power

 

Della Santina

Stefano

 

Born in Carrara

(MS)

on 16/01/1960

- Fiscal Code : DLLSFN60A16B832W

 

Residence:

Vanvitelli

, 2

- 80129

Napoli

(NA)

- IT -

 

Ex-Postions

Director

 

Gorgoglione

Domenico

 

Born in Albano di Lucania

(PZ)

on 17/05/1964

- Fiscal Code : GRGDNC64E17A131R

 

Residence:

Donica

, 54

- 84084

Fisciano

(SA)

- IT -

 

Ex-Postions

Director

Board Chairman

Managing 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:

 

Prejudicial Events found with cancellations*

 

Legal Mortgage on 22/05/2007. for an amount of 46.340 Euro. Event writing-off

  EQUITALIA POLIS S. P. A.

Search performed on a specialized data base.

 

*Concerns also partially erased events.

 

Legal Procedures

 

None reported, standing to the latest received edition of the Official Publications.

 

Financial and Economical Analysis

 

Subject is active since 1978

An eco-fin analysis has been made on the base od the b/s fo the years 2011, 2012 and 2013.

In the economic management , good and bad results followed on by turns. with a negative economic result in the last financial year. In the last financial year a drop in sales has been registered (-27,46%).

The operating result in 2013 was positive (1,71%) falling within the field's average.

The operating result is positive and amounts to Eur. 149.932 on stable levels if compared to the previous year.

The economic management produced a gross operating margin of Eur. 277.436 recording a -40,09% decrease.

Very good financial situation: shareholder's equity covers short-terms debts with an indebtedness level equal to 0,16 lower than in 2012.

Subject can manage an equity capital funds for an amount of Eur. 5.727.103 on stable levels.

Total indebtedness amounts to Eur. 2.777.211, as opposed to Eur. 5.820.042 in 2012, with a decrease equal to -52,28%.

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.

Accounts receivable average term is 28,12 days. , shorter than the sector's average.

The financial management generated a cash flow of Eur. 67.810.

Subordinate employment cost is of Eur. 467.719, i.e. 0,82% on total production costs. and a 1,49% incidence on sales volumes.

The financial management has a limited economic impact, equal to -0,52% on the sales.

 

Financial Data

 

Complete balance-sheet for the year

al 31/12/2013

(in Eur

x 1)

 

Item Type

Value

Sales

31.343.648

Profit (Loss) for the period

-12.915

 

Complete balance-sheet for the year

al 31/12/2012

(in Eur

x 1)

 

Item Type

Value

Sales

43.210.900

Profit (Loss) for the period

111.863

 

Complete balance-sheet for the year

al 31/12/2011

(in Eur

x 1)

 

Item Type

Value

Sales

26.942.594

Profit (Loss) for the period

430.971

 

Complete balance-sheet for the year

al 31/12/2010

(in Eur

x 1)

 

Item Type

Value

Sales

23.036.125

Profit (Loss) for the period

359.952

 

Complete balance-sheet for the year

al 31/12/2009

(in Eur

x 1)

 

Item Type

Value

Sales

38.152.261

Profit (Loss) for the period

254.523




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

 

Years

2013

2012

2011

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

2.148

3.222

4.297

. . Research,develop. and advert.expens.

. . Industrial patent rights

. . Concessions,licenses,trademarks,etc.

4.409

4.764

5.118

. . Goodwill

. . Assets in formation and advance paymen.

. . Other intangible fixed assets

. Total Intangible Fixed Assets

6.557

7.986

9.415

. TANGIBLE FIXED ASSETS

. . Real estate

2.154.302

2.206.589

2.258.877

. . Plant and machinery

25.380

33.595

28.759

. . Industrial and commercial equipment

15.768

7.844

. . Other assets

7.354

24.233

46.429

. . Assets under construction and advances

. Total Tangible fixed assets

2.202.804

2.272.261

2.334.065

. FINANCIAL FIXED ASSETS

. . Equity investments

79

79

. . . Equity invest. in subsidiary companies

. . . Equity invest. in associated companies

. . . Equity invest. in holding companies

. . . Equity invest. in other companies

79

79

. . Financial receivables

19.395

19.395

18.334

. . . . Within 12 months

19.395

19.395

18.334

. . . . Beyond 12 months

. . . Receivab due from subsidiaries

. . . . Within 12 months

. . . . 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

19.395

19.395

18.334

. . . . Within 12 months

19.395

19.395

18.334

. . . . Beyond 12 months

. . Other securities

. . Own shares

. . . Total nominal value

. Total financial fixed assets

19.474

19.474

18.334

Total fixed assets

2.228.835

2.299.721

2.361.814

CURRENT ASSETS

. INVENTORIES

. . Raw materials and other consumables

. . Work in progress and semimanufactured

. . Work in progress on order

. . Finished goods

1.922.595

4.406.882

1.364.964

. . Advance payments

. Total Inventories

1.922.595

4.406.882

1.364.964

. CREDITS NOT HELD AS FIXED ASSETS

. . Within 12 months

2.711.895

4.325.663

3.736.787

. . Beyond 12 months

24.423

. . Trade receivables

2.448.071

3.938.974

3.588.990

. . . . Within 12 months

2.448.071

3.938.974

3.588.990

. . . . Beyond 12 months

. . Receivables due from subsid. comp.

. . . . Within 12 months

. . . . 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

. . Fiscal Receivables

197.776

253.437

120.101

. . . . Within 12 months

197.776

253.437

120.101

. . . . Beyond 12 months

. . Receivables for anticipated taxes

35.524

33.920

51.918

. . . . Within 12 months

35.524

33.920

27.495

. . . . Beyond 12 months

24.423

. . Receivables due from third parties

30.524

99.332

201

. . . . Within 12 months

30.524

99.332

201

. . . . Beyond 12 months

. Total Credits not held as fixed assets

2.711.895

4.325.663

3.761.210

. FINANCIAL ASSETS

. . Equity invest. in subsidiary comp.

49.500

. . Equity invest. in associated companies

. . Equity invest. in holding companies

. . Other equity investments

. . Own shares

. . . Total nominale value

. . Other securities

. Total Financial Assets

49.500

. LIQUID FUNDS

. . Bank and post office deposits

1.883.517

809.948

562.189

. . Checks

. . Banknotes and coins

7

954

203

. Total Liquid funds

1.883.524

810.902

562.392

Total current assets

6.518.014

9.543.447

5.738.066

ADJUSTMENT ACCOUNTS

. Discount on loans

27.567

15.557

. Other adjustment accounts

5.223

Total adjustments accounts

27.567

15.557

5.223

TOTAL ASSETS

8.774.416

11.858.725

8.105.103

LIABILITIES

STOCKHOLDERS' EQUITY

. Capital stock

108.465

108.465

108.465

. Additional paid-in capital

. Revaluation reserves

1.378.562

1.378.562

1.378.562

. Legal reserve

23.309

23.309

23.309

. Reserve for Own shares

. Statute reserves

. Other reserves

4.229.682

4.191.320

3.910.351

. Accumulated Profits (Losses)

. Profit( loss) of the year

-12.915

111.863

430.971

. Advances on dividends

. Partial loss of the year Coverage

Total Stockholders'Equity

5.727.103

5.813.519

5.851.658

RESERVES FOR RISKS AND CHARGES

. . Reserve for employee termination indem.

22.282

33.000

. . Taxation fund, also differed

46.779

183.552

. . Other funds

Total Reserves for Risks and Charges

69.061

33.000

183.552

Employee termination indemnities

188.537

173.773

157.486

ACCOUNTS PAYABLE

. . . . Within 12 months

2.777.211

5.820.042

1.900.989

. . . . Beyond 12 months

. . 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

2.428.663

5.430.105

1.408.501

. . . . Within 12 months

2.428.663

5.430.105

1.408.501

. . . . Beyond 12 months

. . Due to other providers of finance

. . . . Within 12 months

. . . . Beyond 12 months

. . Advances from customers

. . . . Within 12 months

. . . . Beyond 12 months

. . Trade payables

197.078

146.893

251.351

. . . . Within 12 months

197.078

146.893

251.351

. . . . Beyond 12 months

. . Securities issued

. . . . Within 12 months

. . . . Beyond 12 months

. . Due to subsidiary companies

. . . . Within 12 months

. . . . Beyond 12 months

. . Due to associated companies

. . . . Within 12 months

. . . . Beyond 12 months

. . Due to holding companies

. . . . Within 12 months

. . . . Beyond 12 months

. . Due to the tax authorities

14.740

14.319

12.183

. . . . Within 12 months

14.740

14.319

12.183

. . . . Beyond 12 months

. . Due to social security and welfare inst.

36.613

37.311

29.065

. . . . Within 12 months

36.613

37.311

29.065

. . . . Beyond 12 months

. . Other payables

100.117

191.414

199.889

. . . . Within 12 months

100.117

191.414

199.889

. . . . Beyond 12 months

Total accounts payable

2.777.211

5.820.042

1.900.989

ADJUSTMENT ACCOUNTS

. Agio on loans

. Other adjustment accounts

12.504

18.391

11.418

Total adjustment accounts

12.504

18.391

11.418

TOTAL LIABILITIES

8.774.416

11.858.725

8.105.103

 

MEMORANDUM ACCOUNTS

 

Third party goods

Investment accounts

382.163

2.866.977

Risk accounts

1.142.830

1.166.946

Civil and fiscal norms relation

 

PROFIT AND LOSS ACCOUNTS

 

VALUE OF PRODUCTION

. Revenues from sales and services

31.343.648

43.210.900

26.942.594

. Changes in work in progress

. Changes in semi-manufact. products

. Capitalization of internal work

. Other income and revenues

26.086.898

27.411.385

10.135.345

. . Contributions for operating expenses

. . Different income and revenues

26.086.898

27.411.385

10.135.345

Total value of production

57.430.546

70.622.285

37.077.939

PRODUCTION COSTS

. Raw material,other materials and consum.

52.525.141

70.441.607

35.179.807

. Services received

1.148.359

. Leases and rentals

1.643.515

2.288.264

13.957

. Payroll and related costs

467.719

446.344

385.441

. . Wages and salaries

325.508

311.712

277.097

. . Social security contributions

116.823

107.726

85.570

. . Employee termination indemnities

22.845

24.287

22.774

. . Pension and similar

. . Other costs

2.543

2.619

. Amortization and depreciation

80.725

280.247

216.853

. . Amortization of intangible fixed assets

1.429

1.429

1.429

. . Amortization of tangible fixed assets

79.296

94.778

96.148

. . Depreciation of tangible fixed assets

. . Writedown of current receiv.and of liquid

184.040

119.276

. Changes in raw materials

2.484.287

-3.041.918

-461.899

. Provisions to risk reserves

46.779

. Other provisions

. Other operating costs

32.448

24.877

13.764

Total production costs

57.280.614

70.439.421

36.496.282

Diff. between value and cost of product.

149.932

182.864

581.657

FINANCIAL INCOME AND EXPENSE

. Income from equity investments

50.873

. . In subsidiary companies

. . In associated companies

. . In other companies

50.873

. Other financial income

5.012

7.248

5.810

. . 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

. . Financ.income other than the above

5.012

7.248

. . . - Subsidiary companies

. . . - Associated companies

. . . - Holding companies

. . . - Other companies

5.012

7.248

. Interest and other financial expense

-167.295

-44.659

54.107

. . Towards subsidiary companies

. . Towards associated companies

. . Towards holding companies

. . Towards other companies

167.295

44.659

Total financial income and expense

-162.283

13.462

59.917

ADJUSTMENTS TO FINANCIAL ASSETS

. Revaluations

. . Of equity investments

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

. . Of securities incl.among current assets

. Devaluation

. . Of equity investments

. . Of financial fixed assets (no equity inv)

. . Of securities included among current ass

Total adjustments to financial assets

EXTRAORDINARY INCOME AND EXPENSE

. Extraordinary income

20.777

32.929

3.569

. . Gains on disposals

. . Other extraordinary income

20.777

32.929

3.569

. Extraordinary expense

-913

-1.679

-1.494

. . Losses on disposals

. . Taxes relating to prior years

. . Other extraordinary expense

-913

-1.679

-1.494

Total extraordinary income and expense

19.864

31.250

2.075

Results before income taxes

7.513

227.576

643.649

. Taxes on current income

20.428

115.713

212.678

. . current taxes

22.032

125.210

212.678

. . differed taxes(anticip.)

-1.604

-9.497

. Net income for the period

-12.915

111.863

430.971

. Adjustments in tax regulations pursuance

. Provisions in tax regulations pursuance

. Profit (loss) of the year

-12.915

111.863

430.971

 

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

0,19

0,29

0,13

Elasticity Ratio

Units

0,74

0,80

0,71

0,85

Availability of stock

Units

0,22

0,37

0,17

0,16

Total Liquidity Ratio

Units

0,52

0,43

0,54

0,62

Quick Ratio

Units

0,21

0,07

0,08

0,03

COMPOSITION ON SOURCE

Net Short-term indebtedness

Units

0,16

0,86

0,23

5,02

Self Financing Ratio

Units

0,65

0,49

0,72

0,13

Capital protection Ratio

Units

0,98

0,96

0,91

0,58

Liabilities consolidation quotient

Units

0,07

0,03

0,08

0,10

Financing

Units

0,48

1,00

0,32

6,17

Permanent Indebtedness Ratio

Units

0,67

0,50

0,74

0,25

M/L term Debts Ratio

Units

0,02

0,01

0,02

0,07

Net Financial Indebtedness Ratio

Units

0,10

0,79

0,14

1,16

CORRELATION

Fixed assets ratio

Units

2,65

2,60

2,54

1,57

Current ratio

Units

2,35

1,64

3,02

1,09

Acid Test Ratio-Liquidity Ratio

Units

1,65

0,88

2,30

0,85

Structure's primary quotient

Units

2,57

2,53

2,48

0,96

Treasury's primary quotient

Units

0,68

0,14

0,32

0,05

Rate of indebtedness ( Leverage )

%

153,21

203,99

138,51

743,68

Current Capital ( net )

Value

3.740.803

3.723.405

3.837.077

70.465

RETURN

Return on Sales

%

0,22

0,91

2,40

1,66

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

%

-0,23

1,92

7,36

6,68

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

%

0,13

3,91

11,00

19,39

Return on Investment ( R.O.I. )

%

1,71

1,54

7,18

3,84

Return/ Sales

%

0,48

0,42

2,16

2,16

Extra Management revenues/charges incid.

%

-8,61

61,17

74,09

28,56

Cash Flow

Value

67.810

392.110

647.824

48.046

Operating Profit

Value

149.932

182.864

581.657

59.910

Gross Operating Margin

Value

277.436

463.111

798.510

99.701

MANAGEMENT

Credits to clients average term

Days

28,12

32,82

47,96

86,56

Debts to suppliers average term

Days

1,31

0,73

2,49

100,32

Average stock waiting period

Days

22,08

36,71

18,24

31,97

Rate of capital employed return ( Turnover )

Units

3,57

3,64

3,32

1,82

Rate of stock return

Units

16,30

9,81

19,74

11,18

Labour cost incidence

%

1,49

1,03

1,43

5,95

Net financial revenues/ charges incidence

%

-0,52

0,03

0,22

-0,81

Labour cost on purchasing expenses

%

0,82

0,63

1,06

5,95

Short-term financing charges

%

6,02

0,77

n.c.

2,18

Capital on hand

%

27,99

27,44

30,08

54,67

Sales pro employee

Value

2.238.832

3.323.915

3.716.219

507.074

Labour cost pro employee

Value

33.408

34.334

53.164

32.650

 

 

Market / Territory Data

 

Population living in the province

:

3.092.859

Population living in the region

:

5.788.986

Number of families in the region

:

1.966.064

 

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

- per food products

:

475

- per non food products

:

1.304

- per energy consume

:

79

 

sector Data

 

The values are calculated on a base of 5.101 significant companies.

The companies cash their credits on an average of 87 dd.

The average duration of suppliers debts is about 100 dd.

The sector's profitability is on an average of 1,66%.

The labour cost affects the turnover in the measure of 5,95%.

Goods are held in stock in a range of 32 dd.

The difference between the sales volume and the resources used to realize it is about 1,82.

The employees costs represent the 5,95% of the production costs.

 

Statistical Detrimental Data

 

Statistically the trade activity shows periods of crisis.

The area is statistically considered remarkably risky.

In the region 80.616 protested subjects are found; in the province they count to 41.815.

The insolvency index for the region is 1,40, , while for the province it is 1,36.

Total Bankrupt companies in the province : 18.217.

Total Bankrupt companies in the region : 28.514.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.69

UK Pound

1

Rs.92.99

Euro

1

Rs.66.37

 

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%)

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.