MIRA INFORM REPORT
|
Report No. : |
347065 |
|
Report Date : |
27.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
PADOVANI - S.R.L. |
|
|
|
|
Registered Office : |
Via Leonardo Da Vinci, 244 45021 - Badia Polesine (RO) -IT- |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
20.09.1998 |
|
|
|
|
Legal Form : |
Limited liability company |
|
|
|
|
Line of Business : |
Manufacture of irradiation, electromedical and
electrotherapeutic equipment |
|
|
|
|
No. of Employees : |
from 26 to 35 |
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 |
|
Maximum Credit Limits : |
170.000 Eur. |
|
|
|
|
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
|
Padovani - S.r.l. |
|
Via Leonardo Da Vinci, 244 |
|
45021 - Badia Polesine (RO) -IT- |
Summary
|
Fiscal Code |
: |
01102310297 |
|
Legal Form |
: |
Limited liability company |
|
start of Activities |
: |
31/01/2000 |
|
Equity |
: |
2.000.000 |
|
Turnover Range |
: |
5.000.000/6.500.000 |
|
Number of Employees |
: |
from 26 to 35 |
Credit Opinion 170.000
Eur.
Activity
Manufacture of irradiation, electromedical and electrotherapeutic
equipment
Legal
Data
Legal Form : Limited liability company
|
Fiscal Code : 01102310297 |
|
Foreign Trade Reg. no. : 006653 of Rovigo since 16/10/2000 |
|
Chamber of Commerce no. : 127781 of Rovigo since 08/07/1998 |
|
Firms' Register : RO-1998-22656 of Rovigo since 21/07/1998 |
|
V.A.T. Code : 01102310297 |
|
Establishment date |
: 20/03/1998 |
|
|
Start of Activities |
: 31/01/2000 |
|
|
Legal duration |
: 31/12/2050 |
|
|
Nominal Capital |
: 93.600 |
|
|
Subscribed Capital |
: 93.600 |
|
|
Paid up Capital |
: 93.600 |
|
Legal mail : |
PADOVANI@LEGALMAIL.IT |
Members
|
|
Padovani |
Roberto |
|
|
Born in Bagnolo di Po |
(RO) |
on 04/03/1944 |
- Fiscal Code : PDVRRT44C04A574M |
|
|
Residence: |
Libero Grassi |
, 98 |
- 45020 |
Canda |
(RO) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Board Chairman |
24/07/1998 |
||
|
Director |
24/07/1998 |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Padovani |
Fabio |
|
|
Born in Badia Polesine |
(RO) |
on 06/08/1973 |
- Fiscal Code : PDVFBA73M06A539H |
|
|
Residence: |
Per Canda |
, 457 |
- 45027 |
Trecenta |
(RO) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
24/07/1998 |
|
|
Padovani |
Simona |
|
|
Born in Badia Polesine |
(RO) |
on 22/05/1975 |
- Fiscal Code : PDVSMN75E62A539O |
|
|
Residence: |
Libero Grassi |
, 62 |
- 45020 |
Canda |
(RO) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Assistant board Chairman |
24/07/1998 |
||
|
Director |
24/07/1998 |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Padovani |
Elisabetta |
|
|
Born in Badia Polesine |
(RO) |
on 12/05/1979 |
- Fiscal Code : PDVLBT79E52A539Y |
|
|
Residence: |
Libero Grassi |
, 98 |
- 45020 |
Canda |
(RO) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
24/07/1998 |
|
|
PADOVANI ROBERTO |
|
|
Born |
on 04/03/1944 |
- Fiscal Code : PDVRRT44C04A574M |
|
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.
|
|
Padovani |
Roberto |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
PADOVANI ROBERTO ** |
Canda (RO) - IT - |
PDVRRT44C04A574M |
Proprietor |
Withdrawn |
Registered |
The indication "REGISTERED" as Firm Status could refer
to Firms in Liquidation, Active, Inactive.
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 |
|
Padovani Fabio |
Trecenta - IT - |
PDVFBA73M06A539H |
8.000 .Eur |
8,54 |
|
Padovani Simona |
Canda - IT - |
PDVSMN75E62A539O |
8.000 .Eur |
8,54 |
|
Padovani Elisabetta |
Canda - IT - |
PDVLBT79E52A539Y |
8.000 .Eur |
8,54 |
|
ARGENTON MARIA ELISA |
Canda - IT - |
RGNMLS44B67B582B |
9.600 .Eur |
10,25 |
|
PADOVANI ROBERTO |
PDVRRT44C04A574M |
60.000 .Eur |
64,10 |
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 |
|
Leonardo Da Vinci |
, 244 |
- 45021 |
- Badia Polesine |
(RO) |
- IT - |
|
Legal mail |
: PADOVANI@LEGALMAIL.IT |
|
Employees |
: 31 |
|
Fittings and Equipment for a value of 30.000 |
Eur |
|
Stocks for a value of 110.000 |
Eur |
Historical
Information and/or Firm's Status
--
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 2000.
Balance sheets for the years 2012, 2013 and 2014 were analyzed.
Under an economic point of view, profits were registered during the
last years with a r.o.e. of 9,16% in 2014 with a stable trend in the turnover.
The operating result in 2014 was positive (11,39%) falling within
the field's average.
The operating result is positive and amounts to Eur. 393.184
showing a downwards trend equal to -36,59% if compared to the value of the
financial year 2013.
The economic management produced a gross operating margin of Eur.
609.713 recording a -31,36% decrease.
Company's financial status is balanced since indebtedness is not
high (1,46) yet on the increase as against the previous accounting period.
It's shareholders funds amount to Eur. 1.948.272 , stable in
comparison with the value of the previous year.
The financial management has recorded total debts amounting to
Eur. 2.841.531, , a more or less stable value.
Financial debts exposure is under control while the recourse to
commercial credit is rather frequent but lined up with the field's average.
Liquidity is rather modest.
2014 financial year closed with a cash flow of Eur. 394.901
In the last financial year labour cost was of Eur. 1.512.999, with
a 29,93% incidence on total costs of production. and a 29,1% incidence on sales
volumes.
Financial charges have a high incidence (-1,97%) on turnover
figures.
Financial
Data
|
|
Complete balance-sheet for the year |
al 31/12/2014 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
5.199.813 |
|
Profit (Loss) for the period |
178.372 |
|
|
Complete balance-sheet for the year |
al 31/12/2013 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
5.208.832 |
|
Profit (Loss) for the period |
321.200 |
|
|
Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
5.401.101 |
|
Profit (Loss) for the period |
291.977 |
|
|
Complete balance-sheet for the year |
al 31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
5.140.827 |
|
Profit (Loss) for the period |
45.167 |
|
|
Complete balance-sheet for the year |
al 31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
4.088.585 |
|
Profit (Loss) for the period |
45.856 |
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 |
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
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 |
0,95 |
0,64 |
0,53 |
0,18 |
|
Elasticity Ratio |
Units |
0,03 |
0,36 |
0,47 |
0,78 |
|
Availability of stock |
Units |
0,03 |
0,02 |
0,02 |
0,21 |
|
Total Liquidity Ratio |
Units |
0,00 |
0,34 |
0,45 |
0,51 |
|
Quick Ratio |
Units |
0,00 |
0,00 |
0,12 |
0,04 |
|
COMPOSITION ON SOURCE |
|||||
|
Net Short-term indebtedness |
Units |
1,46 |
1,06 |
1,85 |
2,10 |
|
Self Financing Ratio |
Units |
0,56 |
0,32 |
0,21 |
0,25 |
|
Capital protection Ratio |
Units |
0,86 |
0,77 |
0,73 |
0,72 |
|
Liabilities consolidation quotient |
Units |
0,17 |
0,94 |
0,50 |
0,20 |
|
Financing |
Units |
1,46 |
1,83 |
3,40 |
2,77 |
|
Permanent Indebtedness Ratio |
Units |
0,70 |
0,64 |
0,47 |
0,42 |
|
M/L term Debts Ratio |
Units |
0,14 |
0,32 |
0,26 |
0,10 |
|
Net Financial Indebtedness Ratio |
Units |
0,77 |
n.c. |
n.c. |
0,66 |
|
CORRELATION |
|||||
|
Fixed assets ratio |
Units |
0,74 |
1,01 |
0,89 |
1,67 |
|
Current ratio |
Units |
0,04 |
1,04 |
0,91 |
1,29 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
0,00 |
0,99 |
0,87 |
0,89 |
|
Structure's primary quotient |
Units |
0,59 |
0,51 |
0,40 |
1,07 |
|
Treasury's primary quotient |
Units |
0,00 |
0,00 |
0,24 |
0,09 |
|
Rate of indebtedness ( Leverage ) |
% |
177,18 |
309,90 |
469,87 |
391,64 |
|
Current Capital ( net ) |
Value |
-2.723.282 |
82.497 |
-329.144 |
649.109 |
|
RETURN |
|||||
|
Return on Sales |
% |
7,59 |
11,32 |
10,22 |
3,67 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
9,16 |
18,15 |
20,15 |
5,57 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
14,92 |
29,30 |
30,81 |
15,37 |
|
Return on Investment ( R.O.I. ) |
% |
11,39 |
11,31 |
6,60 |
4,68 |
|
Return/ Sales |
% |
7,56 |
11,91 |
8,31 |
4,26 |
|
Extra Management revenues/charges incid. |
% |
45,37 |
51,79 |
65,02 |
23,72 |
|
Cash Flow |
Value |
394.901 |
589.393 |
552.129 |
124.367 |
|
Operating Profit |
Value |
393.184 |
620.162 |
449.076 |
167.285 |
|
Gross Operating Margin |
Value |
609.713 |
888.355 |
709.228 |
316.896 |
|
MANAGEMENT |
|||||
|
Credits to clients average term |
Days |
n.c. |
n.c. |
n.c. |
111,74 |
|
Debts to suppliers average term |
Days |
102,27 |
n.c. |
n.c. |
115,66 |
|
Average stock waiting period |
Days |
7,79 |
6,78 |
7,85 |
63,87 |
|
Rate of capital employed return ( Turnover ) |
Units |
1,51 |
0,95 |
0,79 |
1,17 |
|
Rate of stock return |
Units |
46,19 |
53,10 |
45,83 |
5,58 |
|
Labour cost incidence |
% |
29,10 |
28,71 |
25,35 |
19,50 |
|
Net financial revenues/ charges incidence |
% |
-1,97 |
-1,95 |
-1,07 |
-1,37 |
|
Labour cost on purchasing expenses |
% |
29,93 |
31,17 |
26,43 |
20,26 |
|
Short-term financing charges |
% |
3,90 |
3,53 |
1,38 |
2,70 |
|
Capital on hand |
% |
66,39 |
105,30 |
126,03 |
85,54 |
|
Sales pro employee |
Value |
110.634 |
113.235 |
128.597 |
218.436 |
|
Labour cost pro employee |
Value |
32.191 |
32.505 |
32.603 |
34.902 |
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 564 significant companies.
The companies cash their credits on an average of 112 dd.
The average duration of suppliers debts is about 116 dd.
The sector's profitability is on an average of 3,67%.
The labour cost affects the turnover in the measure of 19,50%.
Goods are held in stock in a range of 64 dd.
The difference between the sales volume and the resources used to
realize it is about 1,17.
The employees costs represent the 20,26% 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 13.782 protested subjects are found; in the province
they count to 1.048.
The insolvency index for the region is 0,30, , while for the
province it is 0,43.
Total Bankrupt companies in the province : 731.
Total Bankrupt companies in the region : 16.714.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.96 |
|
UK Pound |
1 |
Rs.99.55 |
|
Euro |
1 |
Rs.71.64 |
INFORMATION DETAILS
|
Analysis Done by
: |
TRI |
|
|
|
|
Report Prepared
by : |
TRU |
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.