|
|
|
MIRA INFORM REPORT
|
Report No. : |
499023 |
|
Report Date : |
09.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
KEMITER S.R.L. |
|
|
|
|
Registered Office : |
Via Del Faggio, 2, 56022 -
Castelfranco di Sotto(PI)-IT |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2016 |
|
|
|
|
Date of Incorporation : |
04.02.1994 |
|
|
|
|
Legal Form : |
Limited liability
company |
|
|
|
|
Line of Business : |
Manufacture of various chemical products for industrial
usage (including antidetonating and anti-freeze preparations) Wholesale of chemical products |
|
|
|
|
No. of Employees : |
From 16 to 25 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A+ |
|
Credit Rating |
Explanation |
Rating Comments |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
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
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
Italy |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
ITALY - ECONOMIC OVERVIEW
Italy’s economy compromises a developed industrial north, dominated by private companies, and a less-developed, highly subsidized, agricultural south, with a legacy of unemployment and underdevelopment. 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, reaching 131% of GDP in 2017. 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 longstanding structural economic problems, including
labor market inefficiencies, a sluggish judicial system, and a weak banking
sector. Italy’s economy returned to modest growth in late 2014 for the first
time since 2011. In 2015-16, Italy’s economy grew at about 1% each year, and in
2017 growth accelerated to 1.5% of GDP. In 2017, overall
unemployment was 11.4%, but youth unemployment remained high at 37.1%.
|
Source
: CIA |
Company
name and address
|
Kemiter S.r.l. |
|
Via |
Del Faggio, |
2 |
|
56022 |
- Castelfranco di Sotto |
(PI) |
-IT- |
Summary
|
Fiscal Code |
: |
04541560480 |
|
Legal Form |
: |
Limited liability company |
|
start of Activities |
: |
26/01/2004 |
|
Equity |
: |
Over 2.582.254 |
|
Turnover Range |
: |
3.750.000/5.000.000 |
|
Number of Employees |
: |
from 16 to 25 |
Activity
Manufacture of various chemical products for
industrial usage (including antidetonating and anti-freeze preparations)
Wholesale of chemical products
Legal Data
Legal Form : Limited liability company
|
Register of Handcraft firms : 145112 of Firenze
since 18/09/1995 |
|
Fiscal Code : 04541560480 |
|
Foreign Trade Reg. no. : PI017924 since
23/02/2007 |
|
Foreign Trade Reg. no. : 62898 of Firenze since
22/01/1996 |
|
Chamber of Commerce no. : 459672 of Firenze since
05/03/1994 |
|
Chamber of Commerce no. : 126382 of Pisa since
15/10/1997 |
|
Firms' Register : FI017-65888 of Firenze since
19/02/1996 |
|
Firms' Register : PI-2005-3576 of Pisa since
03/02/2005 |
|
V.A.T. Code : 04541560480 |
|
Establishment date |
: 04/02/1994 |
|
|
Start of Activities |
: 26/01/2004 |
|
|
Legal duration |
: 31/12/2050 |
|
|
Nominal Capital |
: 62.400 |
|
|
Subscribed Capital |
: 62.400 |
|
|
Paid up Capital |
: 62.400 |
|
Legal mail : |
KEMITER@LEGALMAIL.IT |
Members
|
Codyeco S.p.a. |
|
Residence: |
Del Grano |
, 8 |
- 56029 |
Santa Croce sull'Arno |
(PI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Sole partner |
21/07/2016 |
|
No Prejudicial events are reported |
|
No Protests registered |
|
Costagli |
Romano |
|
Born in San Miniato |
(PI) |
on 30/04/1955 |
- Fiscal Code : CSTRMN55D30I046M |
|
Residence: |
Del Faggio |
, 2 |
- 56022 |
Castelfranco di Sotto |
(PI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Board Chairman |
21/07/2016 |
||
|
Director |
21/07/2016 |
|
No Prejudicial events are reported |
|
No Protests registered |
|
D'adamo |
Pasqualino |
|
Born in Carlantino |
(FG) |
on 09/02/1958 |
- Fiscal Code : DDMPQL58B09B784H |
|
Residence: |
Di Muscianello |
, 12 |
- 56020 |
Montopoli in Val d'Arno |
(PI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
21/07/2016 |
|
Knebel |
Cesar Walmor |
|
Born in Lajeado Rs |
( ) |
on 18/12/1965 |
- Fiscal Code : KNBCRW65T18Z602Q |
|
Residence: |
Del Faggio |
, 2 |
- 56022 |
Castelfranco di Sotto |
(PI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
21/07/2016 |
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.
|
Costagli |
Romano |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Codyeco S.p.A. |
Santa Croce sull'Arno (PI) - IT - |
00323640508 |
Director |
Withdrawn |
Merged |
|
Codyeco S.p.A. |
Santa Croce sull'Arno (PI) - IT - |
00323640508 |
Director |
Withdrawn |
Merged |
|
Codyeco S.p.A. |
Santa Croce sull'Arno (PI) - IT - |
00323640508 |
Institor |
Withdrawn |
Merged |
|
Chemit S.r.l. |
Altopascio (LU) - IT - |
01280610468 |
Assistant board Chairman |
Withdrawn |
Ceased |
|
C.t.r. - Centro Tecnico Rifinizione - S.r.l. |
Santa Croce sull'Arno (PI) - IT - |
01020870505 |
Sole Director |
Withdrawn |
Ceased |
|
Tanextra Italia - S.r.l. |
Santa Croce sull'Arno (PI) - IT - |
01370320465 |
Chairman |
Withdrawn |
Ceased |
|
Tanextra Italia - S.r.l. |
Santa Croce sull'Arno (PI) - IT - |
01370320465 |
Managing Director |
Withdrawn |
Ceased |
|
Tandaico S.r.l. |
Arzignano (VI) - IT - |
02905350241 |
Sole Director |
Withdrawn |
Registered |
|
Biamar Societa' Semplice |
Santa Croce sull'Arno (PI) - IT - |
01742790502 |
Limited Partner |
Withdrawn |
Registered |
|
Biamar Societa' Semplice |
Santa Croce sull'Arno (PI) - IT - |
01742790502 |
Partner |
Active |
Registered |
|
Via Del Bosco Real Estate S.r.l. |
Santa Croce sull'Arno (PI) - IT - |
01877790509 |
Assistant board Chairman |
Withdrawn |
Registered |
|
Codyeco S.p.a. |
Santa Croce sull'Arno (PI) - IT - |
07884510962 |
Managing Director |
Withdrawn |
Registered |
|
Codyeco S.p.a. |
Santa Croce sull'Arno (PI) - IT - |
07884510962 |
Director |
Active |
Registered |
|
Codyeco S.p.a. |
Santa Croce sull'Arno (PI) - IT - |
07884510962 |
Board Chairman |
Active |
Registered |
|
Agatha Societa' Semplice |
Fucecchio (FI) - IT - |
06580610480 |
Partner |
Active |
Registered |
The indication "REGISTERED" as Firm Status
could refer to Firms in Liquidation, Active, Inactive, etc.
For more information, in this case, we advise to
request further investigations.
Capital Shareholders
Shareholders' list as at date of data collection:
|
Firm's Style / Name |
Seat / Residence |
Fiscal Code |
Owned Shares |
% Ownership |
|
Codyeco S.p.a. |
Santa Croce sull'Arno - IT - |
07884510962 |
62.400 .Eur |
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 |
|
Consorzio Depuratore Di Santa Croce Sull 'arno
S.p.a. |
Santa Croce sull'Arno - IT - |
00652790502 |
118 .Eur |
0,07 |
Active |
Firm's location and structure
In order to carry out its activities the firm uses
the following locations:
|
- |
Legal and operative seat |
|
Del Faggio |
, 2 |
- 56022 |
- Castelfranco di Sotto |
(PI) |
- IT - |
|
PHONE |
: 0571471102 |
|
FAX |
: 05714879901 |
|
Legal mail |
: KEMITER@LEGALMAIL.IT |
|
- |
Branch |
(Store) |
since 28/06/2017 |
|
Giovanni Da Verrazzano |
, 14 |
- 56029 |
- Santa Croce sull'Arno |
(PI) |
- IT - |
|
Employees |
: 17 |
|
Fittings and Equipment for a value of 960.000 |
Eur |
|
Stocks for a value of 1.720.000 |
Eur |
The firm has a direct commercial organization
Sales converge to North and Central Italy.
Import comes generally from the following nations:
|
- France |
|
- Germany |
|
- Great Britain |
Historical Information and/or Firm's Status
CHANGES TO THE LEGAL FORM:
|
Former legal form |
New legal form |
Changement Date |
|
General partnership |
Limited liability company |
22/04/1998 |
CEASINGS/INCORPORATIONS/MERGES:
|
Splitting-up project and setting-up of new co |
|
Date |
Merging/Splitting-up Project-New Company: |
15/04/2016 |
|
Splitting-up and setting-up of a new company |
|
LUXIM S.R.L. |
|
, Castelfranco Di Sotto |
- IT - |
|
Date |
Splitting-up: |
20/06/2016 |
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.
National Real Estates Survey
|
The requested subject is not present c/o the
CADASTRE OFFICES. |
All responsibilities are declined regarding any possible
omissions concerning the given results. Therefore, we advise to request for
"Hypothecating Survey Inspection" c/o the locally competent RR.II.
Immovables Registry, as this service doesn't fully guarantees the actual title
of the Real Estates of the requested Subject.
Financial and Economical
Analysis
Company's starting of activities dates back to
2004.
The eonomic-financial analysis is based on the
latest 3 b/s.
During the last years, it achieved profits (r.o.e.
12,36% on 2016) but without a significant increase in the turnover.
The operating result was positive in the last
financial year (9,65%) and in line with the sector's average.
The amount of the operating result for the year
2016 is of Eur. 447.249 with a -59,14% drop.
The G.O.M. amounted to Eur. 604.311 showing a
downward trend as opposed to the previous year.
The company has an excellent net worth if compared
to its debts, with a low indebtedness (0,56)
Subject can manage an equity capital funds for an
amount of Eur. 2.540.391 decreasing if compared to the previous financial year.
Total indebtedness totalled Eur. 1.917.757, with no
important change.
Liquidity is good.
The financial management generated a cash flow of
Eur. 470.984.
During 2016 financial year labour costs amounted to
Eur. 724.898, with a 15,96% incidence on production costs. , whereas the
incidence on sales revenues is of 14,67%.
Financial incomes cover financial charges.
Financial Data
|
Complete balance-sheet for the year |
al 31/12/2016 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
4.941.863 |
|
Profit (Loss) for the period |
313.922 |
|
Complete balance-sheet for the year |
al 31/12/2015 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
4.960.310 |
|
Profit (Loss) for the period |
762.783 |
|
Complete balance-sheet for the year |
al 31/12/2014 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
5.907.285 |
|
Profit (Loss) for the period |
509.688 |
|
Complete balance-sheet for the year |
al 31/12/2013 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
6.394.799 |
|
Profit (Loss) for the period |
489.943 |
|
Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
6.360.496 |
|
Profit (Loss) for the period |
310.980 |
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 31/12/2016 - 12 Mesi -
Currency: - Amounts x 1 |
|
- Balance Sheet as at 31/12/2015 - 12 Mesi - Currency:
- Amounts x 1 |
|
- Balance Sheet as at 31/12/2014 - 12 Mesi -
Currency: - Amounts x 1 |
|
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|
|
RATIOS |
Value Type |
as at 31/12/2016 |
as at 31/12/2015 |
as at 31/12/2014 |
Sector Average |
|
COMPOSITION ON INVESTMENT |
|||||
|
Rigidity Ratio |
Units |
0,06 |
0,10 |
0,12 |
0,33 |
|
Elasticity Ratio |
Units |
0,94 |
0,90 |
0,87 |
0,65 |
|
Availability of stock |
Units |
0,37 |
0,27 |
0,23 |
0,15 |
|
Total Liquidity Ratio |
Units |
0,57 |
0,62 |
0,64 |
0,47 |
|
Quick Ratio |
Units |
0,11 |
0,32 |
0,21 |
0,01 |
|
COMPOSITION ON SOURCE |
|||||
|
Net Short-term indebtedness |
Units |
0,56 |
n.c. |
0,22 |
1,60 |
|
Self Financing Ratio |
Units |
0,55 |
0,64 |
0,58 |
0,28 |
|
Capital protection Ratio |
Units |
0,85 |
0,77 |
0,80 |
0,69 |
|
Liabilities consolidation quotient |
Units |
0,09 |
0,29 |
0,24 |
0,21 |
|
Financing |
Units |
0,75 |
0,49 |
0,64 |
2,10 |
|
Permanent Indebtedness Ratio |
Units |
0,59 |
0,72 |
0,66 |
0,47 |
|
M/L term Debts Ratio |
Units |
0,04 |
0,08 |
0,08 |
0,10 |
|
Net Financial Indebtedness Ratio |
Units |
n.c. |
n.c. |
n.c. |
0,66 |
|
CORRELATION |
|||||
|
Fixed assets ratio |
Units |
9,61 |
7,32 |
5,31 |
1,28 |
|
Current ratio |
Units |
2,27 |
3,31 |
2,61 |
1,17 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
1,37 |
2,31 |
1,91 |
0,90 |
|
Structure's primary quotient |
Units |
8,99 |
6,52 |
4,67 |
0,90 |
|
Treasury's primary quotient |
Units |
0,26 |
1,16 |
0,62 |
0,02 |
|
Rate of indebtedness ( Leverage ) |
% |
182,53 |
155,26 |
172,28 |
353,06 |
|
Current Capital ( net ) |
Value |
2.433.039 |
3.427.746 |
2.697.440 |
592.597 |
|
RETURN |
|||||
|
Return on Sales |
% |
9,53 |
17,56 |
11,21 |
3,97 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
12,36 |
21,67 |
17,53 |
2,57 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
17,86 |
31,39 |
26,23 |
9,20 |
|
Return on Investment ( R.O.I. ) |
% |
9,65 |
20,03 |
15,24 |
3,84 |
|
Return/ Sales |
% |
9,05 |
22,07 |
12,92 |
4,05 |
|
Extra Management revenues/charges incid. |
% |
70,19 |
69,69 |
66,76 |
25,15 |
|
Cash Flow |
Value |
470.984 |
871.155 |
661.913 |
316.000 |
|
Operating Profit |
Value |
447.249 |
1.094.614 |
763.478 |
279.308 |
|
Gross Operating Margin |
Value |
604.311 |
1.202.986 |
915.703 |
532.534 |
|
MANAGEMENT |
|||||
|
Credits to clients average term |
Days |
n.c. |
n.c. |
n.c. |
104,54 |
|
Debts to suppliers average term |
Days |
n.c. |
n.c. |
n.c. |
96,16 |
|
Average stock waiting period |
Days |
125,17 |
108,46 |
71,57 |
50,38 |
|
Rate of capital employed return ( Turnover ) |
Units |
1,07 |
0,91 |
1,18 |
1,16 |
|
Rate of stock return |
Units |
2,88 |
3,32 |
5,03 |
7,14 |
|
Labour cost incidence |
% |
14,67 |
13,40 |
12,08 |
13,54 |
|
Net financial revenues/ charges incidence |
% |
0,13 |
0,15 |
-0,06 |
-1,46 |
|
Labour cost on purchasing expenses |
% |
15,96 |
16,27 |
13,39 |
13,80 |
|
Short-term financing charges |
% |
0,33 |
0,74 |
0,47 |
3,24 |
|
Capital on hand |
% |
93,83 |
110,19 |
84,80 |
86,41 |
|
Sales pro employee |
Value |
224.630 |
248.015 |
268.512 |
352.121 |
|
Labour cost pro employee |
Value |
32.949 |
33.232 |
32.443 |
44.319 |
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 |
: |
394.101 |
|
Population living in the region |
: |
3.598.269 |
|
Number of families in the region |
: |
1.474.681 |
Monthly family expences average in the region (in
Eur..) :
|
- per food products |
: |
444 |
|
- per non food products |
: |
2.009 |
|
- per energy consume |
: |
122 |
Sector Data
The values are calculated on a base of 435
significant companies.
The companies cash their credits on an average of
105 dd.
The average duration of suppliers debts is about 96
dd.
The sector's profitability is on an average of
3,97%.
The labour cost affects the turnover in the measure
of 13,54%.
Goods are held in stock in a range of 50 dd.
The difference between the sales volume and the
resources used to realize it is about 1,16.
The employees costs represent the 13,80% 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 24.960 protested subjects are found;
in the province they count to 2.664.
The insolvency index for the region is 0,70, ,
while for the province it is 0,68.
Total Bankrupt companies in the province : 1.648.
Total Bankrupt companies in the region : 20.423.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 64.99 |
|
|
1 |
INR 90.96 |
|
Euro |
1 |
INR 79.51 |
|
Euro |
1 |
INR 80.01 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
VIV |
|
|
|
|
Report Prepared
by : |
SYL |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.