MIRA INFORM REPORT

 

 

Report No. :

347449

Report Date :

29.10.2015

 

IDENTIFICATION DETAILS

 

Name :

BIANCO S.P.A.

 

 

Registered Office :

Viale Industria, 4  12051 - Alba (CN)

 

 

Country :

Italy

 

 

Financials (as on) :

30.09.2013

 

 

Date of Incorporation :

01.03.1999

 

 

Legal Form :

Joint stock company with sole shareholder

 

 

Line of Business :

Manufacture of textile machinery, machinery and systems for auxiliary treatment of textiles, sewing and weaving machines (including spare parts and accessories)

 

 

No. of Employee :

From 51 to 70

 

 

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 – 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 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

 

BIANCO S.P.A.

 

Viale Industria, 4  12051 - Alba (CN) -IT-

 

 

 

Summary

 

Fiscal Code

:

02683390047

Legal Form

:

Joint stock company with sole shareholder

start of Activities

:

01/03/1999

Equity

:

Over 2.582.254

Turnover Range

:

20.000.000/25.000.000

Number of Employees

:

from 51 to 70

 

 

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 : Joint stock company with sole shareholder

Fiscal Code : 02683390047

 

Chamber of Commerce no. : 228013 of Cuneo since 01/03/1999

 

Firms' Register : CN-1999-10366 of Cuneo since 01/03/1999

 

V.A.T. Code : 02683390047

 

Establishment date

: 26/01/1999

Start of Activities

: 01/03/1999

Legal duration

: 31/12/2050

Nominal Capital

: 1.000.000

Subscribed Capital

: 1.000.000

Paid up Capital

: 1.000.000

 

Legal mail :

CONTABILITA@PEC.BIANCO-SPA.COM

 

 

Members

 

Tcn S.r.l.

 

 

:

Industria

, 5

- 12062

Cherasco

(CN)

- IT -

 

Position

Since

Shares Amount

% Ownership

Sole partner

03/07/2009

 

No Prejudicial events are reported

 

No Protests registered

 

Bernocco

Giuseppe

 

Born in Bra

(CN)

on 23/09/1969

- Fiscal Code : BRNGPP69P23B111V

 

Residence:

Fenestrelle

, 32

- 10064

Pinerolo

(TO)

- IT -

 

Position

Since

Shares Amount

% Ownership

Director

27/01/2014

Board Chairman

27/01/2014

 

No Prejudicial events are reported

 

No Protests registered

 

Astegiano

Sebastiano

 

Born in Narzole

(CN)

on 10/09/1964

- Fiscal Code : STGSST64P10F846G

 

Residence:

Rimembranza

, 35

- 12068

Narzole

(CN)

- IT -

 

Position

Since

Shares Amount

% Ownership

Director

27/01/2014

 

Borromeo

Stefano

 

Born in Torino

(TO)

on 16/08/1969

- Fiscal Code : BRRSFN69M16L219J

 

Residence:

Re Umberto

, 55

- 10128

Torino

(TO)

- IT -

 

Position

Since

Shares Amount

% Ownership

Director

27/01/2014

Managing Director

27/01/2014

 

No Prejudicial events are reported

 

No Protests registered

 

Fontanone

Carlo

 

Born in Cuneo

(CN)

on 19/04/1972

- Fiscal Code : FNTCRL72D19D205A

 

Residence:

Alba Cortemilia

, 147

- 12055

Diano d'Alba

(CN)

- IT -

 

Position

Since

Shares Amount

% Ownership

Director

29/12/2014

Managing Director

29/12/2014

 

No Prejudicial events are reported

 

No Protests registered

 

Pelissero

Andrea

 

Born in Alba

(CN)

on 26/02/1976

- Fiscal Code : PLSNDR76B26A124K

 

Residence:

Mazzini

, 39

- 12052

Neive

(CN)

- IT -

 

Position

Since

Shares Amount

% Ownership

Director

31/05/2014

Managing Director

31/05/2014

 

No Prejudicial events are reported

 

No Protests registered

 

Tcn S.r.l.

 

 

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.

 

Bernocco

Giuseppe

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

Galup Societa' A Responsabilita' Limitata

Pinerolo (TO) - IT -

00479660011

Managing Director

-

In liquidation

Galup Societa' A Responsabilita' Limitata

Pinerolo (TO) - IT -

00479660011

Director

-

In liquidation

Tcn S.r.l.

Cherasco (CN) - IT -

02175810049

Director

Active

Registered

Tcn S.r.l.

Cherasco (CN) - IT -

02175810049

Board Chairman

Active

Registered

Tcn Vehicles Division Srl Siglabile TcnV.d. Srl

Cantarana (AT) - IT -

01285840052

Director

Active

Registered

Tcn Vehicles Division Srl Siglabile TcnV.d. Srl

Cantarana (AT) - IT -

01285840052

Board Chairman

Active

Registered

Glp Industriale S.r.l.

Torino (TO) - IT -

10864230015

Managing Director

Active

Registered

Glp Industriale S.r.l.

Torino (TO) - IT -

10864230015

Director

Active

Registered

Glp Industriale S.r.l.

Torino (TO) - IT -

10864230015

Board Chairman

Active

Registered

Asbeco S.r.l.

Alba (CN) - IT -

03512690045

Director

Active

Registered

Asbeco S.r.l.

Alba (CN) - IT -

03512690045

Board Chairman

Active

Registered

 

Borromeo

Stefano

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

Ing. Guglielmino E Figli - S.r.l.

Torino (TO) - IT -

04939760015

Managing Director

Withdrawn

Registered

Ing. Guglielmino E Figli - S.r.l.

Torino (TO) - IT -

04939760015

Director

Withdrawn

Registered

Mec-diesel S.p.a.

Torino (TO) - IT -

07089160019

Managing Director

Withdrawn

Registered

Mec-diesel S.p.a.

Torino (TO) - IT -

07089160019

Director

Withdrawn

Registered

Sicilmec S.r.l.

Catania (CT) - IT -

03667720878

Managing Director

Withdrawn

Registered

Sicilmec S.r.l.

Catania (CT) - IT -

03667720878

Director

Withdrawn

Registered

Tcn Vehicles Division Srl Siglabile TcnV.d. Srl

Cantarana (AT) - IT -

01285840052

Managing Director

Withdrawn

Registered

Tcn Vehicles Division Srl Siglabile TcnV.d. Srl

Cantarana (AT) - IT -

01285840052

Director

Withdrawn

Registered

No Prejudicial events are reported

 

No Protests registered

Tcn S.r.l.

 

Position

Since

Shares Amount

 

% Ownership

Partner

 

 

No Prejudicial events are reported

No Protests registered

Bernocco

Giuseppe

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

Galup Societa' A Responsabilita' Limitata

Pinerolo (TO) - IT -

00479660011

Managing Director

-

In liquidation

Galup Societa' A Responsabilita' Limitata

Pinerolo (TO) - IT -

00479660011

Director

-

In liquidation

Tcn S.r.l.

Cherasco (CN) - IT -

02175810049

Director

Active

Registered

Tcn S.r.l.

Cherasco (CN) - IT -

02175810049

Board Chairman

Active

Registered

Tcn Vehicles Division Srl Siglabile TcnV.d. Srl

Cantarana (AT) - IT -

01285840052

Director

Active

Registered

Tcn Vehicles Division Srl Siglabile TcnV.d. Srl

Cantarana (AT) - IT -

01285840052

Board Chairman

Active

Registered

Glp Industriale S.r.l.

Torino (TO) - IT -

10864230015

Managing Director

Active

Registered

Glp Industriale S.r.l.

Torino (TO) - IT -

10864230015

Director

Active

Registered

Glp Industriale S.r.l.

Torino (TO) - IT -

10864230015

Board Chairman

Active

Registered

Asbeco S.r.l.

Alba (CN) - IT -

03512690045

Director

Active

Registered

Asbeco S.r.l.

Alba (CN) - IT -

03512690045

Board Chairman

Active

Registered

Borromeo

Stefano

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

Ing. Guglielmino E Figli - S.r.l.

Torino (TO) - IT -

04939760015

Managing Director

Withdrawn

Registered

Ing. Guglielmino E Figli - S.r.l.

Torino (TO) - IT -

04939760015

Director

Withdrawn

Registered

Mec-diesel S.p.a.

Torino (TO) - IT -

07089160019

Managing Director

Withdrawn

Registered

Mec-diesel S.p.a.

Torino (TO) - IT -

07089160019

Director

Withdrawn

Registered

Sicilmec S.r.l.

Catania (CT) - IT -

03667720878

Managing Director

Withdrawn

Registered

Sicilmec S.r.l.

Catania (CT) - IT -

03667720878

Director

Withdrawn

Registered

Tcn Vehicles Division Srl Siglabile TcnV.d. Srl

Cantarana (AT) - IT -

01285840052

Managing Director

Withdrawn

Registered

Tcn Vehicles Division Srl Siglabile TcnV.d. Srl

Cantarana (AT) - IT -

01285840052

Director

Withdrawn

Registered

 

Fontanone

Carlo

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

Fdm S.r.l.

Diano d'Alba (CN) - IT -

02536390046

Sole Director

Active

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

Tcn S.r.l.

Cherasco - IT -

02175810049

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

Asbeco S.r.l.

Alba - IT -

03512690045

30.000 .Eur

33,33

Active

 

Firm's location and structure

 

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

 

-

Legal and operative seat

(Workshop)

 

Industria

, 4

- 12051

- Alba

(CN)

- IT -

 

PHONE

: 0173314111

 

FAX

: 017334872

 

Website

: www.bianco-spa.com

 

Legal mail

: CONTABILITA@PEC.BIANCO-SPA.COM

 

-

Branch

(Warehouse)

since 01/01/2015

 

Alba Cortemilia

, 147

- 12055

- Diano d'Alba

(CN)

- IT -

 

Employees

: 68

 

Fittings and Equipment for a value of 96.000

Eur

 

Stocks for a value of 4.820.000

Eur

 

 

Historical Information and/or Firm's Status

 

EX-MEMBERS / EX-POSITIONS:

 

Tibaldi

Claudio

 

Born in Bra

(CN)

on 21/02/1941

- Fiscal Code : TBLCLD41B21B111Q

 

Residence:

E. Brizio

, 27/B

- 12042

Bra

(CN)

- IT -

 

Ex-Postions

Chairman of the Board of Aud.

 

Bernocco

Giuseppe

 

Born in Bra

(CN)

on 23/09/1969

- Fiscal Code : BRNGPP69P23B111V

 

Residence:

Fenestrelle

, 32

- 10064

Pinerolo

(TO)

- IT -

 

Ex-Postions

Sole Director

 

Tibaldi

Bruno

 

Born in Bra

(CN)

on 10/09/1966

- Fiscal Code : TBLBRN66P10B111R

 

Residence:

Vittorio Emanuele Ii^

, 321

- 12042

Bra

(CN)

- IT -

 

Ex-Postions

Temporary Auditor

 

Tcn S.r.l.

 

- Fiscal Code : 02175810049

 

Ex-Postions

Partner

 

Milanesio

Marco

 

Born in Bra

(CN)

on 03/08/1969

- Fiscal Code : MLNMRC69M03B111S

 

Residence:

Aldo Moro

, 5

- 12030

Cavallermaggiore

(CN)

- IT -

 

Ex-Postions

Procurator

 

Stra'

Pierpaolo

 

Born in Alba

(CN)

on 19/06/1963

- Fiscal Code : STRPPL63H19A124G

 

Residence:

Loc Roccalini

, 7

- 12050

Barbaresco

(CN)

- IT -

 

Ex-Postions

Chairman of the Board of Aud.

 

Rodo

Maria Jose

 

Born in Camerana

(CN)

on 30/11/1942

- Fiscal Code : RDOMJS42S70B467H

 

Residence:

Cauda

, 110

- 12051

Alba

(CN)

- IT -

 

Ex-Postions

Temporary Auditor

 

Porello

Luciana

 

Born in Alba

(CN)

on 02/02/1973

- Fiscal Code : PRLLCN73B42A124P

 

Residence:

Mattutina

, 5

- 14010

Cisterna d'Asti

(AT)

- IT -

 

Ex-Postions

Chairman of the Board of Aud.

 

Muller

Manfred

 

Born in Buchholtz

( )

on 17/06/1947

- Fiscal Code : MLLMFR47H17Z112B

 

Residence:

Cottolengo

, 35

- 12040

Corneliano d'Alba

(CN)

- IT -

 

Ex-Postions

Director

 

Costa

Rinaldo

 

Born in Castino

(CN)

on 03/05/1949

- Fiscal Code : CSTRLD49E03C323J

 

Residence:

San Cassiano

, 13

- 12051

Alba

(CN)

- IT -

 

Ex-Postions

Director

 

Lanzetti

Gianfranco

 

Born in Pocapaglia

(CN)

on 31/05/1948

- Fiscal Code : LNZGFR48E31G742H

 

Residence:

Borgo San Martino

, 6

- 12042

Bra

(CN)

- IT -

 

Ex-Postions

Director

 

Tintero

Giorgio

 

Born in Mango

(CN)

on 12/11/1952

- Fiscal Code : TNTGRG52S12E887M

 

Residence:

Cavourrina

, 8/D

- 12060

Grinzane Cavour

(CN)

- IT -

 

Ex-Postions

Director

 

Messa

Giuseppe

 

Born in Pocapaglia

(CN)

on 15/02/1948

- Fiscal Code : MSSGPP48B15G742F

 

Residence:

Umberto I

, 64/A

- 12042

Bra

(CN)

- IT -

 

Ex-Postions

Chairman of the Board of Aud.

Permanent Auditor

 

Lanzone

Mariangela

 

Born in Monticello d'Alba

(CN)

on 27/05/1960

- Fiscal Code : LNZMNG60E67F669Q

 

Residence:

Langhe

, 69

- 12051

Alba

(CN)

- IT -

 

Ex-Postions

Sole Director

Board Chairman

Director

 

Marchetti

Emanuele

 

Born in Cuneo

(CN)

on 13/04/1969

- Fiscal Code : MRCMNL69D13D205N

 

Residence:

Solferino

, 6

- 12030

Cavallermaggiore

(CN)

- IT -

 

Ex-Postions

Temporary Auditor

 

Rebuffi

Giovanni

 

Born in Sommariva del Bosco

(CN)

on 27/02/1954

- Fiscal Code : RBFGNN54B27I822B

 

Residence:

Principi Di Piemonte

, 4

- 12042

Bra

(CN)

- IT -

 

Ex-Postions

Permanent Auditor

 

Castellengo

Carlo

 

Born in Alba

(CN)

on 10/01/1941

- Fiscal Code : CSTCRL41A10A124E

 

Residence:

Altavilla

, 30

- 12051

Alba

(CN)

- IT -

 

Ex-Postions

Temporary Auditor

 

Busca

Sandra

 

Born in Alba

(CN)

on 14/02/1961

- Fiscal Code : BSCSDR61B54A124C

 

Residence:

Guido Chiampo

, 10

- 12051

Alba

(CN)

- IT -

 

Ex-Postions

Permanent Auditor

 

Bellone

Federico

 

Born in Alba

(CN)

on 16/09/1967

- Fiscal Code : BLLFRC67P16A124E

 

Residence:

Pierino Belli

, 27

- 12051

Alba

(CN)

- IT -

 

Ex-Postions

Permanent Auditor

 

Brignolo

Gianpaolo

 

Born in Alba

(CN)

on 30/04/1961

- Fiscal Code : BRGGPL61D30A124M

 

Residence:

San Paolo

, 4

- 12051

Alba

(CN)

- IT -

 

Ex-Postions

Temporary Auditor

 

Costa

Massimo

 

Born in Alba

(CN)

on 07/04/1969

- Fiscal Code : CSTMSM69D07A124C

 

Residence:

Toetto

, 31

- 12060

Roddi

(CN)

- IT -

 

Ex-Postions

Permanent Auditor

 

CEASINGS/INCORPORATIONS/MERGES

 

Project of merging by taking over of

 

Eltex S.r.l.

 

Industria

, 12051

, Alba

(CN)

- IT -

 

Fiscal Code: 01825050048

 

Date

Merging/splitting-up project:

08/10/1999

 

The firm absorbed by merging of

 

Eltex S.r.l.

 

Industria

, 12051

, Alba

(CN)

- IT -

 

Fiscal Code: 01825050048

 

Date

:

23/12/1999

 

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

 

The company is active since 1999

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

During the last years, it recorded positive net results (r.o.e. 32,15% in 2013) with a good increase in turnover (+25,87% in 2013 compared to 2012 and +18,72% in 2012 compared to 2011).

The operating result was positive in the last financial year (16,1%) falling within the field's average.

The amount of the operating result for the year 2013 is of Eur. 2.485.239 increasing if compared to the yeart 2012.

A gross operating margine for a value of Eur. 2.680.904 was reached. with a 88,76% increase as opposed to the preceding year.

Very good financial situation: shareholder's equity covers short-terms debts with an indebtedness level equal to 0,89 lower than in 2012.

Subject can manage an equity capital funds for an amount of Eur. 4.920.438 , increasing by 47,37% if compared to the year before.

In the year 2013 total debts amounted to Eur. 8.573.836 , a more or less stable value.

Moderate recourse to bank credit while the exposure towards suppliers is rather high however still within the sector's average.

It shows a good range of liquidity.

Trade credits average terms are 79,27 days. , lower than the sector's average.

Eur. 1.691.981 is the value of cash flow during the year 2013

Labour cost expenses amount to Eur. 3.760.437 , representing 17,87% on the total of production costs. , whereas the incidence of such costs on sales revenues is equal to 16,13%.

The financial management is positive as incomes are higher than the charges.

 

Financial Data

 

Complete balance-sheet for the year

al 30/09/2013

(in Eur

x 1)

 

Item Type

Value

Sales

23.312.685

Profit (Loss) for the period

1.581.730

 

Complete balance-sheet for the year

al 30/09/2012

(in Eur

x 1)

 

Item Type

Value

Sales

18.521.180

Profit (Loss) for the period

806.060

 

Complete balance-sheet for the year

al 30/09/2011

(in Eur

x 1)

 

Item Type

Value

Sales

15.600.197

Profit (Loss) for the period

433.041

 

Complete balance-sheet for the year

al 30/09/2010

(in Eur

x 1)

 

Item Type

Value

Sales

14.168.033

Profit (Loss) for the period

713.969

 

Complete balance-sheet for the year

al 30/09/2009

(in Eur

x 1)

 

Item Type

Value

Sales

8.381.359

Profit (Loss) for the period

381.299

 

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 30/09/2013 - 12 Mesi - Currency: - Amounts x 1

 

- Balance Sheet as at 30/09/2012 - 12 Mesi - Currency: - Amounts x 1

 

- Balance Sheet as at 30/09/2011 - 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

510

1.890

3.270

. . Research,develop. and advert.expens.

162.533

. . Industrial patent rights

27.884

20.606

16.637

. . Concessions,licenses,trademarks

231

302

381

. . Goodwill

. . Assets in formation and advance paymen.

. . Other intangible fixed assets

60.132

78.140

34.414

. Total Intangible Fixed Assets

88.757

100.938

217.235

. TANGIBLE FIXED ASSETS

. . Real estate

. . Plant and machinery

46.455

56.668

65.254

. . Industrial and commercial equipment

49.719

59.049

61.951

. . Other assets

129.820

139.038

117.987

. . Assets under construction and advances

. Total Tangible fixed assets

225.994

254.755

245.192

. FINANCIAL FIXED ASSETS

. . Equity investments

137.203

137.203

125.203

. . . Equity invest. in subsidiary companies

104.183

104.183

104.183

. . . Equity invest. in associated companies

32.450

32.450

20.450

. . . Equity invest. in holding companies

570

. . . Equity invest. in other companies

570

570

. . Financial receivables

. . . . Within 12 months

. . . . 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

. . . . Within 12 months

. . . . Beyond 12 months

. . Other securities

. . Own shares

. . . Total nominal value

. Total financial fixed assets

137.203

137.203

125.203

Total fixed assets

451.954

492.896

587.630

CURRENT ASSETS

. INVENTORIES

. . Raw materials and other consumables

947.204

1.036.595

762.713

. . Work in progress and semimanufactured

2.431.974

2.395.080

2.067.400

. . Work in progress on order

. . Finished goods

1.396.770

1.481.905

1.030.295

. . Advance payments

44.724

32.160

26.968

. Total Inventories

4.820.672

4.945.740

3.887.376

. CREDITS NOT HELD AS FIXED ASSETS

. . Within 12 months

6.155.826

6.573.506

5.209.074

. . Beyond 12 months

156.840

162.007

10.557

. . Trade receivables

5.133.637

5.705.189

4.325.661

. . . . Within 12 months

4.981.187

5.552.739

4.325.661

. . . . Beyond 12 months

152.450

152.450

. . Receivables due from subsid. comp.

160.565

108.282

103.441

. . . . Within 12 months

160.565

108.282

103.441

. . . . Beyond 12 months

. . Receivables due from assoc. comp.

305.533

344.404

213.417

. . . . Within 12 months

305.533

344.404

213.417

. . . . Beyond 12 months

. . Receivables due from holding comp.

1.119

3.232

3.166

. . . . Within 12 months

1.119

3.232

3.166

. . . . Beyond 12 months

. . Fiscal Receivables

154.440

47.849

46.481

. . . . Within 12 months

154.440

47.849

46.481

. . . . Beyond 12 months

. . Receivables for anticipated taxes

27.913

. . . . Within 12 months

27.913

. . . . Beyond 12 months

. . Receivables due from third parties

529.459

526.557

527.465

. . . . Within 12 months

525.069

517.000

516.908

. . . . Beyond 12 months

4.390

9.557

10.557

. Total Credits not held as fixed assets

6.312.666

6.735.513

5.219.631

. 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

. Total Financial Assets

. LIQUID FUNDS

. . Bank and post office deposits

3.620.118

1.777.656

1.906.310

. . Checks

13

. . Banknotes and coins

778

580

2.058

. Total Liquid funds

3.620.909

1.778.236

1.908.368

Total current assets

14.754.247

13.459.489

11.015.375

ADJUSTMENT ACCOUNTS

. Discount on loans

225.397

210.247

. Other adjustment accounts

156.619

Total adjustments accounts

225.397

210.247

156.619

TOTAL ASSETS

15.431.598

14.162.632

11.759.624

LIABILITIES

STOCKHOLDERS' EQUITY

. Capital stock

1.000.000

1.000.000

1.000.000

. Additional paid-in capital

. Revaluation reserves

. Legal reserve

116.718

76.415

54.763

. Reserve for Own shares

. Statute reserves

. Other reserves

4.339

4.339

4.339

. Accumulated Profits (Losses)

2.217.651

1.451.894

1.040.505

. Profit( loss) of the year

1.581.730

806.060

433.041

. Advances on dividends

. Partial loss of the year Coverage

Total Stockholders'Equity

4.920.438

3.338.708

2.532.648

RESERVES FOR RISKS AND CHARGES

. . Reserve for employee termination indem.

80.600

80.600

80.600

. . Taxation fund, also differed

. . Other funds

479.245

393.831

413.803

Total Reserves for Risks and Charges

559.845

474.431

494.403

Employee termination indemnities

650.293

654.500

786.708

ACCOUNTS PAYABLE

. . . . Within 12 months

8.016.293

8.117.524

5.963.855

. . . . Beyond 12 months

557.543

964.995

1.426.422

. . 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

547.382

1.008.809

1.492.265

. . . . Within 12 months

412.892

461.427

483.456

. . . . Beyond 12 months

134.490

547.382

1.008.809

. . Due to other providers of finance

. . . . Within 12 months

. . . . Beyond 12 months

. . Advances from customers

766.898

631.742

411.253

. . . . Within 12 months

766.898

631.742

411.253

. . . . Beyond 12 months

. . Trade payables

5.533.709

5.949.126

4.224.711

. . . . Within 12 months

5.533.709

5.949.126

4.224.711

. . . . Beyond 12 months

. . Securities issued

. . . . Within 12 months

. . . . Beyond 12 months

. . Due to subsidiary companies

64.277

61.451

46.077

. . . . Within 12 months

64.277

61.451

46.077

. . . . Beyond 12 months

. . Due to associated companies

61.197

82.010

98.149

. . . . Within 12 months

61.197

82.010

98.149

. . . . Beyond 12 months

. . Due to holding companies

1.129.850

754.842

744.973

. . . . Within 12 months

712.237

337.229

327.360

. . . . Beyond 12 months

417.613

417.613

417.613

. . Due to the tax authorities

188.272

306.039

108.416

. . . . Within 12 months

188.272

306.039

108.416

. . . . Beyond 12 months

. . Due to social security and welfare inst.

113.620

118.192

123.736

. . . . Within 12 months

113.620

118.192

123.736

. . . . Beyond 12 months

. . Other payables

168.631

170.308

140.697

. . . . Within 12 months

163.191

170.308

140.697

. . . . Beyond 12 months

5.440

Total accounts payable

8.573.836

9.082.519

7.390.277

ADJUSTMENT ACCOUNTS

. Agio on loans

. Other adjustment accounts

727.186

612.474

555.588

Total adjustment accounts

727.186

612.474

555.588

TOTAL LIABILITIES

15.431.598

14.162.632

11.759.624

 

 

 

MEMORANDUM ACCOUNTS

 

Third party goods

Investment accounts

Risk accounts

10.026

21.077

Civil and fiscal norms relation

 

 

 

PROFIT AND LOSS ACCOUNTS

 

VALUE OF PRODUCTION

. Revenues from sales and services

23.312.685

18.521.180

15.600.197

. Changes in work in progress

-48.241

779.290

-53.803

. Changes in semi-manufact. products

. Capitalization of internal work

9.441

13.013

. Other income and revenues

261.041

157.008

160.117

. . Contributions for operating expenses

91.525

. . Different income and revenues

169.516

157.008

160.117

Total value of production

23.525.485

19.466.919

15.719.524

PRODUCTION COSTS

. Raw material,other materials and consum.

10.838.729

9.669.583

7.253.131

. Services received

3.974.766

. Leases and rentals

6.106.516

5.039.657

246.802

. Payroll and related costs

3.760.437

3.573.478

3.157.340

. . Wages and salaries

2.773.689

2.583.398

2.233.579

. . Social security contributions

780.179

739.023

682.679

. . Employee termination indemnities

171.249

180.854

181.014

. . Pension and similar

35.320

. . Other costs

70.203

60.068

. Amortization and depreciation

110.251

274.593

373.353

. . Amortization of intangible fixed assets

40.565

204.645

305.226

. . Amortization of tangible fixed assets

49.686

49.948

50.127

. . Depreciation of tangible fixed assets

. . Writedown of current receiv.and of liquid

20.000

20.000

18.000

. Changes in raw materials

89.391

-273.882

37.450

. Provisions to risk reserves

75.414

. Other provisions

10.000

35.480

26.580

. Other operating costs

49.508

37.826

40.023

Total production costs

21.040.246

18.356.735

15.109.445

Diff. between value and cost of product.

2.485.239

1.110.184

610.079

FINANCIAL INCOME AND EXPENSE

. Income from equity investments

. . In subsidiary companies

. . In associated companies

. . In other companies

. Other financial income

73.754

52.036

12.398

. . 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

73.754

52.036

. . . - Subsidiary companies

. . . - Associated companies

. . . - Holding companies

. . . - Other companies

73.754

52.036

. Interest and other financial expense

-25.573

-36.741

-51.281

. . Towards subsidiary companies

. . Towards associated companies

. . Towards holding companies

. . Towards other companies

25.573

36.741

Total financial income and expense

48.181

15.295

-38.883

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

36.865

71.343

38.707

. . Gains on disposals

. . Other extraordinary income

36.865

71.343

38.707

. Extraordinary expense

-125.392

-48.446

-22.569

. . Losses on disposals

-8.362

. . Taxes relating to prior years

. . Other extraordinary expense

-125.392

-40.084

-22.569

Total extraordinary income and expense

-88.527

22.897

16.138

Results before income taxes

2.444.893

1.148.376

587.334

. Taxes on current income

863.163

342.316

154.293

. . current taxes

891.076

342.316

154.293

. . differed taxes(anticip.)

-27.913

. Net income for the period

1.581.730

806.060

433.041

. Adjustments in tax regulations pursuance

. Provisions in tax regulations pursuance

. Profit (loss) of the year

1.581.730

806.060

433.041

 

 

RATIOS

 

Value Type

as at 30/09/2013

as at 30/09/2012

as at 30/09/2011

Sector Average

COMPOSITION ON INVESTMENT

Rigidity Ratio

Units

0,03

0,03

0,05

0,18

Elasticity Ratio

Units

0,96

0,95

0,94

0,80

Availability of stock

Units

0,31

0,35

0,33

0,24

Total Liquidity Ratio

Units

0,64

0,60

0,61

0,48

Quick Ratio

Units

0,23

0,13

0,16

0,03

COMPOSITION ON SOURCE

Net Short-term indebtedness

Units

0,89

1,90

1,60

3,25

Self Financing Ratio

Units

0,32

0,24

0,22

0,19

Capital protection Ratio

Units

0,48

0,46

0,43

0,63

Liabilities consolidation quotient

Units

0,15

0,20

0,37

0,19

Financing

Units

1,74

2,72

2,92

3,80

Permanent Indebtedness Ratio

Units

0,40

0,35

0,40

0,36

M/L term Debts Ratio

Units

0,08

0,11

0,19

0,11

Net Financial Indebtedness Ratio

Units

0,00

0,00

0,00

0,63

CORRELATION

Fixed assets ratio

Units

13,56

10,06

8,08

1,75

Current ratio

Units

1,84

1,66

1,85

1,21

Acid Test Ratio-Liquidity Ratio

Units

1,24

1,05

1,20

0,81

Structure's primary quotient

Units

10,89

6,77

4,31

1,03

Treasury's primary quotient

Units

0,45

0,22

0,32

0,06

Rate of indebtedness ( Leverage )

%

313,62

424,19

464,32

516,42

Current Capital ( net )

Value

6.737.954

5.341.965

5.051.520

422.465

RETURN

Return on Sales

%

7,26

5,83

5,17

3,35

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

%

32,15

24,14

17,10

5,13

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

%

49,69

34,40

23,19

14,77

Return on Investment ( R.O.I. )

%

16,10

7,84

5,19

4,16

Return/ Sales

%

10,66

5,99

3,91

4,11

Extra Management revenues/charges incid.

%

63,64

72,61

70,98

28,57

Cash Flow

Value

1.691.981

1.080.653

806.394

122.482

Operating Profit

Value

2.485.239

1.110.184

610.079

144.752

Gross Operating Margin

Value

2.680.904

1.420.257

1.010.012

241.990

MANAGEMENT

Credits to clients average term

Days

79,27

110,89

99,82

111,85

Debts to suppliers average term

Days

144,23

167,59

160,44

128,30

Average stock waiting period

Days

74,44

96,13

89,71

80,43

Rate of capital employed return ( Turnover )

Units

1,51

1,31

1,33

1,08

Rate of stock return

Units

4,84

3,74

4,01

4,45

Labour cost incidence

%

16,13

19,29

20,24

19,12

Net financial revenues/ charges incidence

%

0,21

0,08

-0,25

-1,08

Labour cost on purchasing expenses

%

17,87

19,47

20,90

19,02

Short-term financing charges

%

0,30

0,40

0,69

2,68

Capital on hand

%

66,19

76,47

75,38

91,91

Sales pro employee

Value

199.253

166.857

264.410

198.432

Labour cost pro employee

Value

32.140

32.193

53.514

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

:

569.987

Population living in the region

:

4.330.172

Number of families in the region

:

1.889.207

 

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

 

- per food products

:

429

- per non food products

:

1.789

- per energy consume

:

135

 

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 lowly risky.

In the region 27.019 protested subjects are found; in the province they count to 1.458.

The insolvency index for the region is 0,63, , while for the province it is 0,26.

Total Bankrupt companies in the province : 1.299.

Total Bankrupt companies in the region : 14.165.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.65.04

UK Pound

1

Rs.99.58

Euro

1

Rs.71.75

 

 

INFORMATION DETAILS

 

Analysis Done by :

RAS

 

 

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%)

 

 

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.