MIRA INFORM REPORT

 

 

Report No. :

341748

Report Date :

24.09.2015

 

IDENTIFICATION DETAILS

 

Name :

NEUBOR GLASS S.R.L.

 

 

Registered Office :

Via Murano, 2 Zona Ind. Ponte Rosso, 33078 - San Vito Al Tagliamento (Pn) -It-

 

 

Country :

Italy

 

 

Financials (as on) :

31.12.2014

 

 

Date of Incorporation :

31.12.2008

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Manufacture of Glass and Glass Products

 

 

No. of Employees :

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 :

Slow but correct

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 & address

 

NEUBOR GLASS S.R.L.

Via Murano, 2 ZONA IND. PONTE ROSSO

33078 - San Vito Al Tagliamento (PN) -IT-

 

 

Summary

 

Fiscal Code

:

01633850936

Legal Form

:

Limited liability company

start of Activities

:

31/12/2008

Equity

:

Over 2.582.254

Turnover Range

:

18.000.000/20.000.000

Number of Employees

:

from 51 to 70

 

 

Activity

 

Manufacture of Glass and Glass Products

 

 

Legal Data

 

Legal Form : Limited liability company

Fiscal Code : 01633850936

 

Foreign Trade Reg. no. : PN019675 since 16/02/2009

 

Chamber of Commerce no. : 92228 of Pordenone since 23/12/2008

 

V.A.T. Code : 01633850936

 

Establishment date

: 18/12/2008

Start of Activities

: 31/12/2008

Legal duration

: 31/12/2050

Nominal Capital

: 2.026.692

Subscribed Capital

: 2.026.692

Paid up Capital

: 2.026.692

 

Legal mail :

NEUBOR.GLASS@LEGALMAIL.IT

 

 

Members

Silvestri

Maurizio

 

Born in Roma

(RM)

on 23/09/1955

- Fiscal Code : SLVMRZ55P23H501Y

 

Residence:

Murano - Z.i. Ponterosso

, 2

- 33078

San Vito Al Tagliamento

(PN)

- IT -

 

Position

Since

Shares Amount

% Ownership

Director

14/04/2015

Board Chairman

14/04/2015

Managing Director

17/04/2015

 

No Prejudicial events are reported

 

No Protests registered

 

Neubor Investiment S.r.l.

 

 

:

Murano

, 2

- 33078

San Vito Al Tagliamento

(PN)

- IT -

 

Position

Since

Shares Amount

% Ownership

Partner

 

No Prejudicial events are reported

 

No Protests registered

 

Manini

Giovanni

 

Born in Parma

(PR)

on 18/06/1969

- Fiscal Code : MNNGNN69H18G337C

 

Residence:

Filippo Brunelleschi

, 15

- 43124

Parma

(PR)

- IT -

 

Position

Since

Shares Amount

% Ownership

Attorney with special power

28/07/2015

 

No Prejudicial events are reported

 

No Protests registered

 

Ferrozzi

Corrado

 

Born in Ferrara

(FE)

on 19/09/1969

- Fiscal Code : FRRCRD69P19D548J

 

Residence:

Alceste Ricciarelli

, 1/B

- 44124

Ferrara

(FE)

- IT -

 

Position

Since

Shares Amount

% Ownership

Managing Director

17/04/2015

Director

14/04/2015

 

No Prejudicial events are reported

 

No Protests registered

 

Balanev

Andrey

 

Born in San Pietroburgo

( )

on 18/07/1970

- Fiscal Code : BLNNRY70L18Z154A

 

Residence:

Andromeda

, 26

- 30028

San Michele Al Tagliamento

(VE)

- IT -

 

Position

Since

Shares Amount

% Ownership

Director

14/04/2015



Brachetti

Piergiacomo

 

Born in Camerino

(MC)

on 08/06/1956

- Fiscal Code : BRCPGC56H08B474F

 

Residence:

Lanificio

, 23

- 37141

Verona

(VR)

- IT -

 

Position

Since

Shares Amount

% Ownership

Attorney with special power

31/03/2015

 

No Prejudicial events are reported

 

No Protests registered

 

Raster

Max Bernhard

 

Born in Monaco

( )

on 05/04/1964

- Fiscal Code : RSTMBR64D05Z112J

 

Residence:

Murano Z.i. Ponterosso

, 2

- 33078

San Vito Al Tagliamento

(PN)

- IT -

 

Position

Since

Shares Amount

% Ownership

Director

14/04/2015

Assistant board Chairman

14/04/2015

 

No Prejudicial events are reported

 

No Protests registered

 

Fontanesi

Alberto

 

Born in Parma

(PR)

on 24/04/1974

- Fiscal Code : FNTLRT74D24G337U

 

Residence:

Murano

, 2

- 33078

San Vito Al Tagliamento

(PN)

- IT -

 

Position

Since

Shares Amount

% Ownership

Director

14/04/2015

Managing Director

17/04/2015

Attorney with special power

28/07/2015

 

No Prejudicial events are reported

 

No Protests registered

 

Fantuzzi

Bruno

 

Born in San Polo di Piave

(TV)

on 31/08/1961

- Fiscal Code : FNTBRN61M31I124O

 

Residence:

Mondini

, 18

- 31046

Oderzo

(TV)

- IT -

 

Position

Since

Shares Amount

% Ownership

Attorney with special power

30/07/2015

 

No Prejudicial events are reported

 

No Protests registered

 

Mora

Michele

 

Born in Parma

(PR)

on 10/03/1971

- Fiscal Code : MROMHL71C10G337O

 

Residence:

R. Pezzani

, 15

- 43022

Montechiarugolo

(PR)

- IT -

 

Position

Since

Shares Amount

% Ownership

Attorney with special power

28/07/2015

 

No Protests registered

 

Grisenti

Claudio

 

Born in Parma

(PR)

on 31/03/1966

- Fiscal Code : GRSCLD66C31G337L

 

Residence:

Alessandro Minuziano

, 46

- 43125

Parma

(PR)

- IT -

 

Position

Since

Shares Amount

% Ownership

Attorney with special power

28/07/2015

 

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.

 

Silvestri

Maurizio

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

Pro.bio.sint. S.p.a.

Lodi (LO) - IT -

00336220124

Director

Withdrawn

Registered

Prime European Therapeuticals S.p.a. InForma Abbreviata Euticals S.p.a.

Milano (MI) - IT -

07254610152

Managing Director

Withdrawn

Registered

Prime European Therapeuticals S.p.a. InForma Abbreviata Euticals S.p.a.

Milano (MI) - IT -

07254610152

Director

Withdrawn

Registered

Prime European Therapeuticals S.p.a. InForma Abbreviata Euticals S.p.a.

Milano (MI) - IT -

07254610152

Director

Withdrawn

Registered

Prime European Therapeuticals S.p.a. InForma Abbreviata Euticals S.p.a.

Milano (MI) - IT -

07254610152

Board Chairman

Withdrawn

Registered

Polichimica Sap Farmaceutici S.p.a. OppuRe Poli Industria Chimica S.p.a. Oppure

Milano (MI) - IT -

00746490150

Managing Director

Withdrawn

Merged

Polichimica Sap Farmaceutici S.p.a. OppuRe Poli Industria Chimica S.p.a. Oppure

Milano (MI) - IT -

00746490150

Director

Withdrawn

Merged

Polichimica Sap Farmaceutici S.p.a. OppuRe Poli Industria Chimica S.p.a. Oppure

Milano (MI) - IT -

00746490150

Board Chairman

Withdrawn

Merged

Bristol-myers Squibb S.r.l.

Roma (RM) - IT -

00082130592

Managing Director

Withdrawn

Registered

Neubor Investiment S.r.l.

San Vito Al Tagliamento (PN) - IT -

01429200932

Director

Active

Registered

Neubor Investiment S.r.l.

San Vito Al Tagliamento (PN) - IT -

01429200932

Managing Director

Active

Registered

Neubor Investiment S.r.l.

San Vito Al Tagliamento (PN) - IT -

01429200932

Board Chairman

Active

Registered

Euteam Societa' Semplice

Monza (MB) - IT -

97509350159

Partner

Active

Registered

Archimica S.r.l.

Milano (MI) - IT -

05333280963

Managing Director

Withdrawn

Registered

Archimica S.r.l.

Milano (MI) - IT -

05333280963

Director

Withdrawn

Registered

Archimica S.r.l.

Milano (MI) - IT -

05333280963

Board Chairman

Withdrawn

Registered

Bormioli Rocco S.p.a.

Fidenza (PR) - IT -

06262210963

Attorney with special power

Active

Registered

Lauro Cinquantasette S.p.a.

Milano (MI) - IT -

04849340965

Managing Director

Withdrawn

Registered

Lauro Cinquantasette S.p.a.

Milano (MI) - IT -

04849340965

Director

Withdrawn

Registered

Lauro Cinquantasette S.p.a.

Milano (MI) - IT -

04849340965

Board Chairman

Withdrawn

Registered

Exorao Life Science S.r.l.

Milano (MI) - IT -

08433900969

Director

Active

Registered

Exorao Life Science S.r.l.

Milano (MI) - IT -

08433900969

Board Chairman

Active

Registered

Just Pharma S.r.l.

Roma (RM) - IT -

02505630596

Director

Active

Registered

Just Pharma S.r.l.

Roma (RM) - IT -

02505630596

Board Chairman

Active

Registered

 

Ferrozzi

Corrado

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

Bormioli Rocco E Figlio S.p.a.

Fidenza (PR) - IT -

00165490343

Attorney with special power

Withdrawn

Ceased

Bormioli Rocco S.p.a.

Fidenza (PR) - IT -

06262210963

Attorney with special power

Active

Registered

Bormioli Rocco S.p.a.

Fidenza (PR) - IT -

06262210963

Procurator

Withdrawn

Registered

 

Raster

Max Bernhard

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

Gerresheimer Pisa S.p.a.

Pisa (PI) - IT -

00116570508

Director

Withdrawn

Registered

Gerresheimer Pisa S.p.a.

Pisa (PI) - IT -

00116570508

Board Chairman

Withdrawn

Registered

Neubor Investiment S.r.l.

San Vito Al Tagliamento (PN) - IT -

01429200932

Director

Active

Registered

Neubor Investiment S.r.l.

San Vito Al Tagliamento (PN) - IT -

01429200932

Assistant board Chairman

Active

Registered

Neubor Investiment S.r.l.

San Vito Al Tagliamento (PN) - IT -

01429200932

Managing Director

Active

Registered

 

Fontanesi

Alberto

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

Decoro Fidenza S.r.l.

Fidenza (PR) - IT -

02318970346

Attorney with special power

Active

Registered

Bormioli Rocco S.p.a.

Fidenza (PR) - IT -

06262210963

Attorney with special power

Active

Registered

Bormioli Rocco S.p.a.

Fidenza (PR) - IT -

06262210963

Procurator

Withdrawn

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

Neubor Investiment S.r.l.

San Vito Al Tagliamento - IT -

01429200932

1.824.022 .Eur

90,00

Altair OOO

Saint Petersburg - RU -

92030790270

202.669 .Eur

10,00



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

Pordenone Energia - Societa' Consortile Per Azioni

Pordenone - IT -

01400720932

250 .Eur

0,06

Active

Gas Intensive Soc. Consortile A Responsa bilita' Limitata

Milano - IT -

03305420964

1.000 .Eur

0,36

Active


Firm's location and structure

 

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

 

-

Legal and operative seat

 

Murano

, 2

- 33078

- San Vito Al Tagliamento

(PN)

- IT -

 

PHONE

: 0434856511

 

FAX

: 043485260

 

Email

: info@neuborglass.com

 

Legal mail

: NEUBOR.GLASS@LEGALMAIL.IT

 

Employees

: 65

 

Fittings and Equipment for a value of 15.500.000

Eur

 

Stocks for a value of 2.870.000

Eur

 

 

Historical Information and/or Firm's Status

 

COMPANY'S CAPITAL CHANGES:

 

Former Type

Former Amount

New Type

New Amount

Changement Date

subcribed,nominal and issued

10.000Eur

subcribed,nominal and issued

110.000Eur

24/12/2008

 

CEASINGS/INCORPORATIONS/MERGES:

 

The firm took over the activity of

 

Neubor Investiment S.r.l.

 

Murano

, 2

, 33078

, San Vito Al Tagliamento

(PN)

- IT -

 

Fiscal Code: 01429200932

 

Date

:

24/12/2008

 


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.



Bankers

 

The firm operates with:

 

Bank Name

Agency Name

Address

ZIP Code

City

ABI Code

CAB Code

BANCA POP. FRIULADRIA SPA

5336

0

BANCA POPOLARE DI VICENZA SCPA

SAN VITO AL TAGLIAMENTO

PIAZZA DEL POPOLO 1

33078

San Vito Al Tagliamento (PN)

5728

65010

BANCA DI CREDITO COOP.PORDENONESE

SAN VITO AL TAGLIAMENTO

VIA AMALTEO, 26

33078

San Vito Al Tagliamento (PN)

8356

65010


Financial and Economical Analysis

 

Subject is active since 2008

The analysis is based on the latest 3 balance sheets.

Unstable economic results mark the company's financial state of affairs. ; in the last financial year a loss was registered (r.o.e. -21,16%) Upward trend as to the turnover in the last financial year (+43,65%).

The return on investment in the last financial year was negative (-6,22%).

The operating loss amounts to Eur. -1.785.091 .

The economic management produced a gross operating margin of Eur. 2.282.857 with a 27,85% growth.

Company's financial status is balanced since indebtedness is not high (1,01) with an improving trend as on the decrease.

The management generated equity capital for an amount of Eur. 9.599.376 on the same levels as the year before.

In the year 2014 total debts amounted to Eur. 18.711.464 whereas in the year before they amounted to Eur. 24.255.043, with a -22,85% drop.

The recourse to financial credit is within the limits; on the other hand the recourse to suppliers' credit is rated as fairly high and higher than sector's average.

Liquid assets are not adequate to subject's needs.

Credits are collected in 41,51 days on the average. , a better value than the sector's average.

The financial management generated a cash flow of Eur. 2.037.103.

In the last financial year labour cost was of Eur. 4.015.776, with a 18,78% incidence on total costs of production. , whereas the incidence of such costs on sales revenues is equal to 20,5%.

The incidence of the financial charges is of -0,82% on the sales amount.

 

Financial Data

 

Complete balance-sheet for the year

al 31/12/2014

(in Eur

x 1)

 

Item Type

Value

Sales

19.586.236

Profit (Loss) for the period

-2.030.845

 

Complete balance-sheet for the year

al 31/12/2013

(in Eur

x 1)

 

Item Type

Value

Sales

13.634.160

Profit (Loss) for the period

549.920

 

Complete balance-sheet for the year

al 31/12/2012

(in Eur

x 1)

 

Item Type

Value

Sales

14.233.762

Profit (Loss) for the period

-659.120

 

 

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

 

Years

2014

2013

2012

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

475.354

2.085

8.339

. . Research,develop. and advert.expens.

. . Industrial patent rights

. . Concessions,licenses,trademarks,etc.

16.416

1.311

3.761

. . Goodwill

. . Assets in formation and advance paymen.

754.923

87.500

. . Other intangible fixed assets

216.643

56.840

46.381

. Total Intangible Fixed Assets

708.413

815.159

145.981

. TANGIBLE FIXED ASSETS

. . Real estate

4.180.931

4.091.761

4.269.909

. . Plant and machinery

15.370.467

4.059.591

5.524.248

. . Industrial and commercial equipment

130.606

16.954

2.226

. . Other assets

16.366

21.359

9.690

. . Assets under construction and advances

127.702

11.934.988

49.498

. Total Tangible fixed assets

19.826.072

20.124.653

9.855.571

. FINANCIAL FIXED ASSETS

. . Equity investments

2.031

2.020

2.031

. . . Equity invest. in subsidiary companies

. . . Equity invest. in associated companies

. . . Equity invest. in holding companies

. . . Equity invest. in other companies

2.031

2.020

2.031

. . Financial receivables

4.490

. . . . Within 12 months

4.490

. . . . 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

4.490

. . . . Within 12 months

4.490

. . . . Beyond 12 months

. . Other securities

139.242

139.242

139.242

. . Own shares

. . . Total nominal value

. Total financial fixed assets

145.763

141.262

141.273

Total fixed assets

20.680.248

21.081.074

10.142.825

CURRENT ASSETS

. INVENTORIES

. . Raw materials and other consumables

1.301.721

1.492.406

1.361.257

. . Work in progress and semimanufactured

. . Work in progress on order

. . Finished goods

1.561.382

2.218.654

2.555.184

. . Advance payments

5.377

26.315

. Total Inventories

2.868.480

3.711.060

3.942.756

. CREDITS NOT HELD AS FIXED ASSETS

. . Within 12 months

4.328.105

4.369.214

5.190.313

. . Beyond 12 months

82.309

. . Trade receivables

2.258.234

3.254.621

5.084.322

. . . . Within 12 months

2.258.234

3.254.621

5.002.013

. . . . Beyond 12 months

82.309

. . 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.

860.926

36.498

120.671

. . . . Within 12 months

860.926

36.498

120.671

. . . . Beyond 12 months

. . Fiscal Receivables

609.986

864.360

2.747

. . . . Within 12 months

609.986

864.360

2.747

. . . . Beyond 12 months

. . Receivables for anticipated taxes

. . . . Within 12 months

. . . . Beyond 12 months

. . Receivables due from third parties

598.959

213.735

64.882

. . . . Within 12 months

598.959

213.735

64.882

. . . . Beyond 12 months

. Total Credits not held as fixed assets

4.328.105

4.369.214

5.272.622

. 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

821.483

4.155.347

201.196

. . Checks

. . Banknotes and coins

2.476

642

607

. Total Liquid funds

823.959

4.155.989

201.803

Total current assets

8.020.544

12.236.263

9.417.181

ADJUSTMENT ACCOUNTS

. Discount on loans

. Other adjustment accounts

16.109

12.597

17.194

Total adjustments accounts

16.109

12.597

17.194

TOTAL ASSETS

28.716.901

33.329.934

19.577.200

LIABILITIES

STOCKHOLDERS' EQUITY

. Capital stock

2.026.692

2.026.692

2.026.692

. Additional paid-in capital

2.600.000

2.600.000

2.600.000

. Revaluation reserves

. Legal reserve

. Reserve for Own shares

. Statute reserves

. Other reserves

10.003.346

7.003.347

3.347

. Accumulated Profits (Losses)

-2.999.817

-3.549.737

-2.890.617

. Profit( loss) of the year

-2.030.845

549.920

-659.120

. Advances on dividends

. Partial loss of the year Coverage

Total Stockholders'Equity

9.599.376

8.630.222

1.080.302

RESERVES FOR RISKS AND CHARGES

. . Reserve for employee termination indem.

. . Taxation fund, also differed

56.723

43.348

63.999

. . Other funds

13.000

Total Reserves for Risks and Charges

56.723

43.348

76.999

Employee termination indemnities

263.444

303.836

328.627

ACCOUNTS PAYABLE

. . . . Within 12 months

10.512.512

15.322.808

5.947.861

. . . . Beyond 12 months

8.198.952

8.932.235

12.033.468

. . 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

9.454.717

9.924.305

13.611.898

. . . . Within 12 months

1.655.657

1.391.962

2.276.692

. . . . Beyond 12 months

7.799.060

8.532.343

11.335.206

. . Due to other providers of finance

399.892

399.892

666.486

. . . . Within 12 months

. . . . Beyond 12 months

399.892

399.892

666.486

. . Advances from customers

13.947

14.726

28.841

. . . . Within 12 months

13.947

14.726

28.841

. . . . Beyond 12 months

. . Trade payables

5.102.193

11.846.468

2.521.984

. . . . Within 12 months

5.102.193

11.846.468

2.521.984

. . . . 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

2.855.712

1.245.110

. . . . Within 12 months

2.855.712

1.245.110

. . . . Beyond 12 months

. . Due to the tax authorities

117.644

129.984

347.169

. . . . Within 12 months

117.644

129.984

347.169

. . . . Beyond 12 months

. . Due to social security and welfare inst.

148.705

267.510

390.974

. . . . Within 12 months

148.705

267.510

359.198

. . . . Beyond 12 months

31.776

. . Other payables

618.654

427.048

413.977

. . . . Within 12 months

618.654

427.048

413.977

. . . . Beyond 12 months

Total accounts payable

18.711.464

24.255.043

17.981.329

ADJUSTMENT ACCOUNTS

. Agio on loans

. Other adjustment accounts

85.894

97.485

109.943

Total adjustment accounts

85.894

97.485

109.943

TOTAL LIABILITIES

28.716.901

33.329.934

19.577.200

 

 

 

 

 

MEMORANDUM ACCOUNTS

 

Third party goods

Investment accounts

Risk accounts

Civil and fiscal norms relation

 

 

 

 

 

PROFIT AND LOSS ACCOUNTS

 

VALUE OF PRODUCTION

. Revenues from sales and services

19.586.236

13.634.160

14.233.762

. Changes in work in progress

-657.272

-336.529

-615.928

. Changes in semi-manufact. products

. Capitalization of internal work

62.360

51.478

. Other income and revenues

666.586

683.942

447.586

. . Contributions for operating expenses

41.635

203.103

10.188

. . Different income and revenues

624.951

480.839

437.398

Total value of production

19.595.550

14.043.933

14.116.898

PRODUCTION COSTS

. Raw material,other materials and consum.

4.556.383

2.886.272

2.815.812

. Services received

7.971.381

6.149.394

5.611.250

. Leases and rentals

358.478

90.244

68.572

. Payroll and related costs

4.015.776

3.071.027

2.895.987

. . Wages and salaries

3.001.160

2.206.751

2.018.711

. . Social security contributions

825.833

724.111

696.858

. . Employee termination indemnities

152.099

140.165

151.788

. . Pension and similar

8.984

. . Other costs

27.700

28.630

. Amortization and depreciation

4.067.948

3.485.242

2.617.061

. . Amortization of intangible fixed assets

189.481

24.972

20.129

. . Amortization of tangible fixed assets

3.573.182

1.960.270

1.974.660

. . Depreciation of tangible fixed assets

283.737

. . Writedown of current receiv.and of liquid

21.548

1.500.000

622.272

. Changes in raw materials

-46.634

-131.149

-43.359

. Provisions to risk reserves

13.000

. Other provisions

. Other operating costs

457.309

192.587

173.152

Total production costs

21.380.641

15.743.617

14.151.475

Diff. between value and cost of product.

-1.785.091

-1.699.684

-34.577

FINANCIAL INCOME AND EXPENSE

. Income from equity investments

. . In subsidiary companies

. . In associated companies

. . In other companies

. Other financial income

25.855

42.592

60.785

. . Financ.income from receivables

. . . Towards subsidiary companies

. . . Towards associated companies

. . . Towards holding companies

. . . Towards other companies

. . Financ.income from secur. t.f.assets

6.210

6.210

6.244

. . Financ.income from secur. cur.assets

. . Financ.income other than the above

. . . - Subsidiary companies

. . . - Associated companies

. . . - Holding companies

. . . - Other companies

. Interest and other financial expense

-185.557

-408.929

-583.077

. . Towards subsidiary companies

. . Towards associated companies

. . Towards holding companies

. . Towards other companies

Total financial income and expense

-159.702

-366.337

-522.292

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

3.069.458

. . Gains on disposals

. . Other extraordinary income

3.069.458

. Extraordinary expense

-385.878

-2

. . Losses on disposals

. . Taxes relating to prior years

. . Other extraordinary expense

-385.878

-2

Total extraordinary income and expense

2.683.580

-2

Results before income taxes

-1.944.793

617.559

-556.871

. Taxes on current income

86.052

67.639

102.249

. . current taxes

72.677

88.290

110.022

. . differed taxes(anticip.)

13.375

-20.651

-7.773

. Net income for the period

-2.030.845

549.920

-659.120

. Adjustments in tax regulations pursuance

. Provisions in tax regulations pursuance

. Profit (loss) of the year

-2.030.845

549.920

-659.120

 

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

0,72

0,63

0,52

0,30

Elasticity Ratio

Units

0,28

0,37

0,48

0,66

Availability of stock

Units

0,10

0,11

0,20

0,15

Total Liquidity Ratio

Units

0,18

0,26

0,28

0,44

Quick Ratio

Units

0,03

0,12

0,01

0,02

COMPOSITION ON SOURCE

Net Short-term indebtedness

Units

1,01

1,29

5,32

2,50

Self Financing Ratio

Units

0,33

0,26

0,06

0,21

Capital protection Ratio

Units

1,00

0,70

-0,27

0,64

Liabilities consolidation quotient

Units

0,80

0,60

2,08

0,29

Financing

Units

1,95

2,81

16,64

3,40

Permanent Indebtedness Ratio

Units

0,63

0,54

0,69

0,41

M/L term Debts Ratio

Units

0,29

0,28

0,63

0,15

Net Financial Indebtedness Ratio

Units

0,94

0,71

13,03

0,68

CORRELATION

Fixed assets ratio

Units

0,87

0,85

1,33

1,30

Current ratio

Units

0,76

0,80

1,58

1,18

Acid Test Ratio-Liquidity Ratio

Units

0,49

0,56

0,92

0,84

Structure's primary quotient

Units

0,46

0,41

0,11

0,68

Treasury's primary quotient

Units

0,08

0,27

0,03

0,04

Rate of indebtedness ( Leverage )

%

299,15

386,20

1812,20

441,03

Current Capital ( net )

Value

-2.491.968

-3.086.545

3.469.320

97.133

RETURN

Return on Sales

%

10,40

29,60

13,76

4,81

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

%

-21,16

6,37

-61,01

4,41

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

%

-20,26

7,16

-51,55

14,30

Return on Investment ( R.O.I. )

%

-6,22

-5,10

-0,18

4,16

Return/ Sales

%

-9,11

-12,47

-0,24

4,40

Extra Management revenues/charges incid.

%

n.c.

n.c.

n.c.

23,79

Cash Flow

Value

2.037.103

4.035.162

1.957.941

85.628

Operating Profit

Value

-1.785.091

-1.699.684

-34.577

75.073

Gross Operating Margin

Value

2.282.857

1.785.558

2.595.484

198.441

MANAGEMENT

Credits to clients average term

Days

41,51

85,94

128,59

110,77

Debts to suppliers average term

Days

222,32

516,44

106,87

124,20

Average stock waiting period

Days

52,72

97,99

99,72

53,64

Rate of capital employed return ( Turnover )

Units

0,68

0,41

0,73

1,02

Rate of stock return

Units

6,83

3,67

3,61

6,62

Labour cost incidence

%

20,50

22,52

20,35

19,95

Net financial revenues/ charges incidence

%

-0,82

-2,69

-3,67

-1,87

Labour cost on purchasing expenses

%

18,78

19,51

20,46

20,58

Short-term financing charges

%

0,99

1,69

3,24

3,00

Capital on hand

%

146,62

244,46

137,54

97,63

Sales pro employee

Value

229.078

216.415

229.576

155.908

Labour cost pro employee

Value

46.968

48.746

46.709

33.115

 

 

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

:

297.699

Population living in the region

:

1.204.718

Number of families in the region

:

516.349

 

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

 

- per food products

:

377

- per non food products

:

1.727

- per energy consume

:

114



Sector Data

 

The values are calculated on a base of 434 significant companies.

The companies cash their credits on an average of 111 dd.

The average duration of suppliers debts is about 124 dd.

The sector's profitability is on an average of 4,81%.

The labour cost affects the turnover in the measure of 19,95%.

Goods are held in stock in a range of 54 dd.

The difference between the sales volume and the resources used to realize it is about 1,02.

The employees costs represent the 20,58% of the production costs.



Statistical Detrimental Data

 

Statistically the trade activity shows periods of crisis.

The area is statistically considered lowly risky.

In the region 3.901 protested subjects are found; in the province they count to 695.

The insolvency index for the region is 0,33, , while for the province it is 0,24.

Total Bankrupt companies in the province : 1.260.

Total Bankrupt companies in the region : 5.085.

 

FOREIGN EXCHANGE RATES

 

Currency

Unit

Indian Rupees

US Dollar

1

Rs.65.97

UK Pound

1

Rs.101.19

Euro

1

Rs.73.37

 

 

INFORMATION DETAILS

 

Analysis Done by :

RAS

 

 

Report Prepared by :

TPT

 

               

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.