MIRA INFORM REPORT
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Report No. : |
344088 |
|
Report Date : |
14.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
MACCHINE CARU' S.R.L. |
|
|
|
|
Registered Office : |
Via Magenta, 43 21052 - Busto Arsizio (VA) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
20.10.2005 |
|
|
|
|
Legal Form : |
Limited liability company |
|
|
|
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Line of Business : |
Manufacture of textile machinery, machinery
and systems for auxiliary treatment of textiles, sewing and weaving machines
(including spare parts and accessories) |
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|
|
|
No. of Employee : |
From 1 to 5 |
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 |
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|
|
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Payment Behaviour : |
Slow |
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|
|
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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 – 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 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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
|
MACCHINE CARU' S.R.L. |
|
Via Magenta, 43 21052 - Busto Arsizio (VA)
-IT- |
Summary
|
Fiscal Code |
: |
02897530123 |
|
Legal Form |
: |
Limited liability company |
|
start of Activities |
: |
20/10/2005 |
|
Equity |
: |
35.000 |
|
Turnover Range |
: |
500.000/750.000 |
|
Number of Employees |
: |
from 1 to 5 |
Activity
Manufacture of textile machinery, machinery
and systems for auxiliary treatment of textiles, sewing and weaving machines
(including spare parts and accessories)
Legal Data
Legal Form : Limited liability company
|
Fiscal Code : 02897530123 |
|
Chamber of Commerce no. : 300424 of Varese
since 20/10/2005 |
|
V.A.T. Code : 02897530123 |
|
Establishment date |
: 28/09/2005 |
|
|
Start of Activities |
: 20/10/2005 |
|
|
Legal duration |
: 31/12/2050 |
|
|
Nominal Capital |
: 40.000 |
|
|
Subscribed Capital |
: 40.000 |
|
|
Paid up Capital |
: 40.000 |
Members
|
Caru' |
Andrea |
|
|
Born in Gallarate |
(VA) |
on 11/06/1960 |
- Fiscal Code : CRANDR60H11D869M |
|
|
Residence: |
Assisi |
, 22 |
- 21013 |
Gallarate |
(VA) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Sole Director |
28/09/2005 |
|
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 |
|
Caru' Andrea |
Gallarate - IT - |
CRANDR60H11D869M |
36.000 .Eur |
90,00 |
|
Viviani Cinzia |
VVNCNZ61C45B300P |
4.000 .Eur |
10,00 |
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 |
|
Magenta |
, 43 |
- 21052 |
- Busto Arsizio |
(VA) |
- IT - |
|
- |
Branch |
(Workshop) |
since 20/10/2005 |
|
Verona |
, 20 |
- 21010 |
- Cardano Al Campo |
(VA) |
- IT - |
|
PHONE |
: 0331261485 |
|
Employees |
: 5 |
|
Fittings and Equipment for a value of 6.000 |
Eur |
|
Stocks for a value of 150.000 |
Eur |
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
Subject is active since 2005
The eonomic-financial analysis is based on
the latest 3 b/s.
Last two financial years were marked by
losses; in 2014 r.o.e. is -61,11%.
The return on investment in the last
financial year was negative (-6,9%).
the operating loss amounts to Eur. -26.180.
With regard to GOM, subject closed 2014
financial account with a negative result (Eur. -13.639).
Net worth does not allow a regular management,
short-term debts volume is considerably high, with an high indebtedness volume
on the whole (11,74) which is rising compared to 2013.
With regard to equity capital, an amount of
Eur. 26.702 is registered. , recording a -37,92% decrease.
Total indebtedness was equal to Eur. 315.894
(Eur. 595 was the value of m/l term debts) , rising as opposed to the previous
year (+58,36%).
The recourse to bank credit is slightly high
and also borrowings from suppliers appear to be high, with an average payment
period equal to 98,9 gg. even if it is lower than the sector's average.
Liquidity is good (1,15)
Trade credits average terms are 87,98 days. ,
that compared to the sector's average is shorter.
Cash flow is negative at the end of financial
year 2014.
In the last financial year labour cost was of
Eur. 189.318, with a 27,72% incidence on total costs of production. , whereas
the incidence of such costs on sales revenues is equal to 28,83%.
High incidence of financial charges on
turnover.
Financial Data
|
Complete balance-sheet for the year |
al 31/12/2014 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
656.578 |
|
Profit (Loss) for the period |
-16.317 |
|
Complete balance-sheet for the year |
al 31/12/2013 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
613.820 |
|
Profit (Loss) for the period |
-7.596 |
|
Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
737.056 |
|
Profit (Loss) for the period |
-2.344 |
|
Complete balance-sheet for the year |
al 31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
409.750 |
|
Profit (Loss) for the period |
-9.254 |
|
Complete balance-sheet for the year |
al 31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
650.231 |
|
Profit (Loss) for the period |
5.538 |
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 |
|
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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 |
0,04 |
0,10 |
0,11 |
0,18 |
|
Elasticity Ratio |
Units |
0,95 |
0,90 |
0,89 |
0,80 |
|
Availability of stock |
Units |
0,41 |
0,47 |
0,26 |
0,24 |
|
Total Liquidity Ratio |
Units |
0,55 |
0,43 |
0,63 |
0,48 |
|
Quick Ratio |
Units |
0,01 |
0,00 |
0,44 |
0,03 |
|
COMPOSITION ON SOURCE |
|||||
|
Net Short-term indebtedness |
Units |
11,74 |
4,28 |
1,46 |
3,25 |
|
Self Financing Ratio |
Units |
0,07 |
0,16 |
0,14 |
0,19 |
|
Capital protection Ratio |
Units |
0,11 |
0,25 |
0,22 |
0,63 |
|
Liabilities consolidation quotient |
Units |
0,12 |
0,19 |
0,20 |
0,19 |
|
Financing |
Units |
11,83 |
4,64 |
5,23 |
3,80 |
|
Permanent Indebtedness Ratio |
Units |
0,17 |
0,30 |
0,27 |
0,36 |
|
M/L term Debts Ratio |
Units |
0,10 |
0,13 |
0,13 |
0,11 |
|
Net Financial Indebtedness Ratio |
Units |
2,35 |
n.c. |
n.c. |
0,63 |
|
CORRELATION |
|||||
|
Fixed assets ratio |
Units |
4,08 |
3,03 |
2,49 |
1,75 |
|
Current ratio |
Units |
1,15 |
1,28 |
1,37 |
1,21 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
0,66 |
0,62 |
0,97 |
0,81 |
|
Structure's primary quotient |
Units |
1,71 |
1,67 |
1,32 |
1,03 |
|
Treasury's primary quotient |
Units |
0,01 |
0,00 |
0,68 |
0,06 |
|
Rate of indebtedness ( Leverage ) |
% |
1420,60 |
609,67 |
704,86 |
516,42 |
|
Current Capital ( net ) |
Value |
46.733 |
51.389 |
81.563 |
422.465 |
|
RETURN |
|||||
|
Return on Sales |
% |
-0,58 |
1,64 |
2,15 |
3,35 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
-61,11 |
-17,66 |
-4,86 |
5,13 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
-31,87 |
-0,58 |
8,11 |
14,77 |
|
Return on Investment ( R.O.I. ) |
% |
-6,90 |
-28,24 |
3,24 |
4,16 |
|
Return/ Sales |
% |
-3,99 |
-12,07 |
1,50 |
4,11 |
|
Extra Management revenues/charges incid. |
% |
n.c. |
n.c. |
-21,27 |
28,57 |
|
Cash Flow |
Value |
-3.776 |
10.056 |
15.815 |
122.482 |
|
Operating Profit |
Value |
-26.180 |
-74.072 |
11.022 |
144.752 |
|
Gross Operating Margin |
Value |
-13.639 |
-56.420 |
29.181 |
241.990 |
|
MANAGEMENT |
|||||
|
Credits to clients average term |
Days |
87,98 |
n.c. |
n.c. |
111,85 |
|
Debts to suppliers average term |
Days |
98,90 |
n.c. |
n.c. |
128,30 |
|
Average stock waiting period |
Days |
84,30 |
71,75 |
42,94 |
80,43 |
|
Rate of capital employed return ( Turnover
) |
Units |
1,73 |
2,34 |
2,17 |
1,08 |
|
Rate of stock return |
Units |
4,27 |
5,02 |
8,38 |
4,45 |
|
Labour cost incidence |
% |
28,83 |
30,77 |
16,22 |
19,12 |
|
Net financial revenues/ charges incidence |
% |
-1,58 |
-0,91 |
-1,03 |
-1,08 |
|
Labour cost on purchasing expenses |
% |
27,72 |
27,45 |
16,46 |
19,02 |
|
Short-term financing charges |
% |
3,32 |
3,06 |
3,11 |
2,68 |
|
Capital on hand |
% |
57,77 |
42,73 |
46,16 |
91,91 |
|
Sales pro employee |
Value |
131.315 |
122.764 |
245.685 |
198.432 |
|
Labour cost pro employee |
Value |
37.863 |
37.776 |
39.852 |
35.779 |
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 1.206
significant companies.
The companies cash their credits on an
average of 112 dd.
The average duration of suppliers debts is
about 128 dd.
The sector's profitability is on an average
of 3,35%.
The labour cost affects the turnover in the
measure of 19,12%.
Goods are held in stock in a range of 80 dd.
The difference between the sales volume and
the resources used to realize it is about 1,08.
The employees costs represent the 19,02% 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 4.597.
The insolvency index for the region is 0,55,
, while for the province it is 0,55.
Total Bankrupt companies in the province :
3.052.
Total Bankrupt companies in the region :
39.612.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.02 |
|
|
1 |
Rs.99.89 |
|
Euro |
1 |
Rs.73.92 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
ANK |
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.