|
|
|
MIRA INFORM REPORT
|
Report No. : |
505175 |
|
Report Date : |
20.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
GILANIA S.R.L. |
|
|
|
|
Registered Office : |
Via Manzoni, S.N., 24024- Gandino(BG) -IT |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2016 |
|
|
|
|
Date of Incorporation : |
01.02.2002 |
|
|
|
|
Legal Form : |
Sole-Member Limited
Liability Company |
|
|
|
|
Line of Business : |
Wholesale
of textile 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 |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Good |
|
|
|
|
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
|
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
|
Gilania
S.r.l. |
|
Via |
Manzoni, |
S.N. |
|
24024 |
-
Gandino |
(BG) |
-IT- |
Summary
|
Fiscal
Code |
: |
02936460167 |
|
Legal
Form |
: |
Sole-Member
Limited Liability Company |
|
start
of Activities |
: |
19/03/2002 |
|
Equity |
: |
2.500.000
|
|
Turnover
Range |
: |
10.000.000/12.750.000
|
|
Number
of Employees |
: |
from 16
to 25 |
Activity
Wholesale
of textile products
Legal Data
Legal
Form : Sole-Member Limited Liability Company
|
Fiscal
Code : 02936460167 |
|
Foreign
Trade Reg. no. : BG059395 since 20/02/2003 |
|
Chamber
of Commerce no. : 335266 of Bergamo since 19/02/2002 |
|
Chamber
of Commerce no. : 1448661 of Roma |
|
V.A.T.
Code : 02936460167 |
|
Establishment
date |
:
01/02/2002 |
|
|
Start
of Activities |
:
19/03/2002 |
|
|
Legal
duration |
:
31/12/2050 |
|
|
Nominal
Capital |
:
100.000 |
|
|
Subscribed
Capital |
:
100.000 |
|
|
Paid up
Capital |
:
100.000 |
|
Legal
mail : |
GILANIA@PEC.IT |
Members
|
Ruggeri |
Omar
Damiano |
|
Born in
Casnigo |
(BG) |
on
13/04/1965 |
-
Fiscal Code : RGGMDM65D13B978N |
|
Residence: |
Giacomo
Quarenghi |
, 11 |
- 24122 |
Bergamo |
(BG) |
- IT - |
|
Position |
Since |
Shares
Amount |
%
Ownership |
|
Sole
Director |
01/02/2002 |
||
|
Sole
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.
|
Ruggeri |
Omar
Damiano |
|
Firm's
Style |
Seat |
Fiscal
Code |
Position |
Position
Status |
Firm's
Status |
|
Ruggeri
Omar Damiano |
Casnigo
(BG) - IT - |
RGGMDM65D13B978N |
Proprietor |
Withdrawn |
Ceased |
|
Errerre
S.r.l. |
Gandino
(BG) - IT - |
03094020165 |
Director |
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 |
|
Ruggeri
Omar Damiano |
Bergamo
- IT - |
RGGMDM65D13B978N |
100,00 |
Direct Participations
The
Company under review has no participations in other Companies.
Firm's location and structure
In order
to carry out its activities the firm uses the following locations:
|
- |
Legal
and operative seat |
|
Manzoni |
, S.N. |
- 24024 |
-
Gandino |
(BG) |
- IT - |
|
Legal
mail |
:
GILANIA@PEC.IT |
|
- |
Branch |
(Shop) |
since
10/09/2015 |
|
Sant'orsola |
, 17/A |
- 24100 |
-
Bergamo |
(BG) |
- IT - |
|
- |
Branch |
(Restaurant) |
since
11/03/2016 |
|
San
Lazzaro |
, 1/C |
- 24100 |
-
Bergamo |
(BG) |
- IT - |
|
Trading
Style: LOSTRICHERIA |
|
- |
Branch |
(Store) |
since
08/07/2015 |
|
Nettunense |
, KM
3,040 |
- 00047 |
-
Marino |
(RM) |
- IT - |
|
Employees |
: 17 |
|
Assistants |
: 1 |
|
Fittings
and Equipment for a value of 41.000 |
Eur |
|
Stocks for
a value of 3.020.000 |
Eur |
Historical Information and/or Firm's Status
CEASINGS/INCORPORATIONS/MERGES:
|
The
firm absorbed by merging of |
|
Errerre
S.r.l. |
|
Manzoni |
, s.n. |
, 24024 |
,
Gandino |
(BG) |
- IT - |
|
Fiscal Code:
03094020165 |
|
Date |
: |
14/10/2013 |
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 firm
under review, by the reported percentages, owns the following real estates:
|
Town |
Cadastre |
No.
Immovables |
Up to
Date |
|
GANDINO
(BG) |
Buildings |
1 |
18/04/2018 |
|
Buildings
Details |
|
Cadastre |
Title |
Location |
Sheet
No. |
Particle
No. |
Sub No. |
Categorie |
Classe |
Consistence |
Cadastrial
Rent |
Part
No. |
|
B |
Proprieta'
per 1/1 |
GANDINO
(BG) VIA MANZONI, SNC Piano S1 |
GA/23 |
10867 |
3 |
cat.
D/7 |
Euro:
16.292,00 |
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 2002.
The
economic-financial analysis has been made on the base of the b/s of the latests
three years.
During
the last years, it achieved profits (r.o.e. 28,96% on 2016) but without a significant
increase in the turnover.
The
operating result was positive in the last financial year (8,97%) falling within
the field's average.
The
operating result is positive and amounts to Eur. 1.001.172 recording a drop as
opposed to the year before (-21,37%).
During
the latest financial year the gross operating margin amounted to Eur. 1.307.248
stable if compared to the financial year 2015.
The
financial status of the company is fairly balanced with an indebtedness level
of 3,3 with an improving trend as on the decrease.
Subject
can manage an equity capital funds for an amount of Eur. 2.113.112 with a
growth of 28,03% in 2016.
During
the last financial year total debts volume reached Eur. 8.829.816 (Eur.
1.184.356 were m/l term ones) while during the financial year 2015 the amount
was equal to Eur. 7.095.609.
The
exposure towards banks is slightly high, the recourse to suppliers' credit is
limited which is also lower than the sector average.
Payments
are supported by good current assets.
Accounts
receivable average term is high (240,61 days). besides being higher than the
sector's average.
2016
financial year closed with a cash flow of Eur. 872.476
During
2016 financial year labour costs amounted to Eur. 891.444, with a 9,68%
incidence on production costs. , whereas the incidence on sales revenues is of
8,78%.
The
incidence of the financial charges is of -0,69% on the sales amount.
Financial Data
|
Complete
balance-sheet for the year |
al
31/12/2016 |
(in Eur |
x 1) |
|
Item
Type |
Value |
|
Sales |
10.157.163 |
|
Profit
(Loss) for the period |
611.900 |
|
Complete
balance-sheet for the year |
al
31/12/2015 |
(in Eur |
x 1) |
|
Item
Type |
Value |
|
Sales |
10.087.159 |
|
Profit
(Loss) for the period |
602.929 |
|
Complete
balance-sheet for the year |
al
31/12/2014 |
(in Eur |
x 1) |
|
Item
Type |
Value |
|
Sales |
9.144.501 |
|
Profit
(Loss) for the period |
202.114 |
|
Complete
balance-sheet for the year |
al
31/12/2013 |
(in Eur |
x 1) |
|
Item
Type |
Value |
|
Sales |
6.155.580 |
|
Profit
(Loss) for the period |
160.211 |
|
Complete
balance-sheet for the year |
al
31/12/2012 |
(in Eur |
x 1) |
|
Item
Type |
Value |
|
Sales |
5.563.272 |
|
Profit
(Loss) for the period |
50.549 |
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 |
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
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 |
0,04 |
0,05 |
0,03 |
0,09 |
|
Elasticity
Ratio |
Units |
0,96 |
0,95 |
0,97 |
0,89 |
|
Availability
of stock |
Units |
0,27 |
0,24 |
0,17 |
0,26 |
|
Total
Liquidity Ratio |
Units |
0,69 |
0,70 |
0,80 |
0,54 |
|
Quick
Ratio |
Units |
0,07 |
0,04 |
0,02 |
0,03 |
|
COMPOSITION
ON SOURCE |
|||||
|
Net
Short-term indebtedness |
Units |
3,30 |
4,07 |
6,29 |
3,95 |
|
Self
Financing Ratio |
Units |
0,19 |
0,19 |
0,14 |
0,17 |
|
Capital
protection Ratio |
Units |
0,66 |
0,57 |
0,73 |
0,62 |
|
Liabilities
consolidation quotient |
Units |
0,18 |
0,04 |
0,02 |
0,10 |
|
Financing |
Units |
4,18 |
4,30 |
6,29 |
4,85 |
|
Permanent
Indebtedness Ratio |
Units |
0,31 |
0,22 |
0,15 |
0,29 |
|
M/L
term Debts Ratio |
Units |
0,12 |
0,03 |
0,01 |
0,07 |
|
Net
Financial Indebtedness Ratio |
Units |
2,76 |
2,70 |
3,92 |
1,04 |
|
CORRELATION |
|||||
|
Fixed
assets ratio |
Units |
8,14 |
4,29 |
5,87 |
2,37 |
|
Current
ratio |
Units |
1,40 |
1,21 |
1,14 |
1,18 |
|
Acid
Test Ratio-Liquidity Ratio |
Units |
1,00 |
0,90 |
0,94 |
0,80 |
|
Structure's
primary quotient |
Units |
4,97 |
3,70 |
5,32 |
1,48 |
|
Treasury's
primary quotient |
Units |
0,10 |
0,05 |
0,02 |
0,04 |
|
Rate of
indebtedness ( Leverage ) |
% |
528,13 |
538,84 |
739,55 |
602,26 |
|
Current
Capital ( net ) |
Value |
3.057.706 |
1.440.945 |
995.622 |
191.984 |
|
RETURN |
|||||
|
Return on
Sales |
% |
8,59 |
7,84 |
9,89 |
2,03 |
|
Return
on Equity - Net- ( R.O.E. ) |
% |
28,96 |
36,53 |
18,25 |
6,31 |
|
Return
on Equity - Gross - ( R.O.E. ) |
% |
44,06 |
55,00 |
33,39 |
17,00 |
|
Return
on Investment ( R.O.I. ) |
% |
8,97 |
14,32 |
7,76 |
4,18 |
|
Return/
Sales |
% |
9,86 |
12,62 |
6,95 |
3,46 |
|
Extra
Management revenues/charges incid. |
% |
61,12 |
47,35 |
31,81 |
27,96 |
|
Cash
Flow |
Value |
872.476 |
791.043 |
904.582 |
44.823 |
|
Operating
Profit |
Value |
1.001.172 |
1.273.389 |
635.361 |
74.603 |
|
Gross
Operating Margin |
Value |
1.307.248 |
1.461.503 |
1.337.829 |
111.383 |
|
MANAGEMENT |
|||||
|
Credits
to clients average term |
Days |
240,61 |
200,22 |
239,99 |
113,70 |
|
Debts
to suppliers average term |
Days |
75,65 |
76,65 |
89,09 |
118,14 |
|
Average
stock waiting period |
Days |
107,06 |
77,24 |
54,47 |
72,90 |
|
Rate of
capital employed return ( Turnover ) |
Units |
0,91 |
1,13 |
1,12 |
1,25 |
|
Rate of
stock return |
Units |
3,36 |
4,66 |
6,61 |
4,88 |
|
Labour
cost incidence |
% |
8,78 |
7,39 |
6,28 |
8,14 |
|
Net
financial revenues/ charges incidence |
% |
-0,69 |
-3,04 |
-2,90 |
-1,38 |
|
Labour
cost on purchasing expenses |
% |
9,68 |
8,35 |
6,71 |
8,25 |
|
Short-term
financing charges |
% |
1,56 |
4,34 |
3,82 |
2,76 |
|
Capital
on hand |
% |
109,87 |
88,16 |
89,56 |
79,85 |
|
Sales
pro employee |
Value |
376.191 |
438.572 |
537.911 |
397.742 |
|
Labour
cost pro employee |
Value |
33.016 |
32.428 |
33.759 |
33.267 |
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 |
: |
1.022.428 |
|
Population
living in the region |
: |
9.393.092 |
|
Number
of families in the region |
: |
3.858.736 |
Monthly
family expences average in the region (in Eur..) :
|
- per
food products |
: |
460 |
|
- per
non food products |
: |
2.090 |
|
- per
energy consume |
: |
114 |
Sector Data
The
values are calculated on a base of 9.175 significant companies.
The
companies cash their credits on an average of 114 dd.
The
average duration of suppliers debts is about 118 dd.
The sector's
profitability is on an average of 2,03%.
The
labour cost affects the turnover in the measure of 8,14%.
Goods are
held in stock in a range of 73 dd.
The
difference between the sales volume and the resources used to realize it is
about 1,25.
The
employees costs represent the 8,25% of the production costs.
Statistical Detrimental Data
Statistically
the trade activity passes through serious crises.
The area
is statistically considered lowly risky.
In the
region 50.886 protested subjects are found; in the province they count to
4.150.
The
insolvency index for the region is 0,55, , while for the province it is 0,41.
Total
Bankrupt companies in the province : 4.376.
Total
Bankrupt companies in the region : 39.612.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 65.68 |
|
|
1 |
INR 93.98 |
|
Euro |
1 |
INR 81.30 |
|
Euro |
1 |
INR 81.27 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
VAR |
|
|
|
|
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.