|
|
|
MIRA INFORM REPORT
|
Report No. : |
489419 |
|
Report Date : |
02.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
EURO GEMS S.R.L. |
|
|
|
|
Registered Office : |
Via Toti Enrico,
2 Milano, 20123 – Milano (MI) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2016 |
|
|
|
|
Date of Incorporation : |
23.06.1999 |
|
|
|
|
Legal Form : |
Sole-Member Limited Liability Company |
|
|
|
|
Line of Business : |
Wholesale of Clocks, Watches and Jewellery |
|
|
|
|
No. of Employees : |
From 6 To 10 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
B |
|
Credit Rating |
Explanation |
Rating Comments |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
Status : |
Moderate |
|
|
|
|
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
|
Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
|
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 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, 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 records. The
government still faces pressure from investors and European partners to sustain
its efforts to address Italy's longstanding structural impediments to growth,
such as 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 late 2011. In 2015-16, Italy’s economy grew more than 0.8%
each year, but picked up in 2017. In 2017, overall unemployment was 11.4%, but
youth unemployment remained high at 37.1%.
|
Source
: CIA |
Company
name & address
EURO GEMS S.R.L.
Via Toti Enrico, 2
Milano
20123 – Milano (MI)
-IT-
Summary
|
Fiscal Code |
: |
12870180150 |
|
Legal Form |
: |
Sole-Member Limited Liability Company |
|
start of Activities |
: |
10/06/2002 |
|
Equity |
: |
1.000.000 |
|
Turnover Range |
: |
3.750.000/5.000.000 |
|
Number of Employees |
: |
From 6 To 10 |
Activity
Wholesale of Clocks, Watches and Jewellery
Legal Data
Legal Form : Sole-Member Limited Liability
Company
|
Fiscal Code : 12870180150 |
|
Foreign Trade Reg. no. : MI331997 since
27/03/2003 |
|
Chamber of Commerce no. : 226253 of
Alessandria |
|
Chamber of Commerce no. : 1591328 of Milano
since 26/07/1999 |
|
V.A.T. Code : 12870180150 |
|
Establishment date |
: 23/06/1999 |
|
|
Start of Activities |
: 10/06/2002 |
|
|
Legal duration |
: 31/12/2050 |
|
|
Nominal Capital |
: 100.000 |
|
|
Subscribed Capital |
: 100.000 |
|
|
Paid up Capital |
: 100.000 |
|
Legal mail : |
EUROGEMS@PEC.EUROGEMSSRL.COM |
Members
|
|
Agarwal |
Mahendra Kumar |
|
|
Born in Jaipur |
( ) |
on 12/12/1961 |
- Fiscal Code : GRWMND61T12Z222G |
|
|
Residence: |
A-36takhte Shai Road |
Jaipur Raj |
- IN - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
22/05/2008 |
||
|
Board Chairman |
22/05/2008 |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Corino |
Vittorina |
|
|
Born in Alessandria |
(AL) |
on 14/08/1962 |
- Fiscal Code : CRNVTR62M54A182A |
|
|
Residence: |
Garibaldi |
, 30 |
- 15044 |
Quargnento |
(AL) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
22/05/2008 |
|
|
Agrawal |
Pushpendra |
|
|
Born in Jaipur |
( ) |
on 19/08/1985 |
- Fiscal Code : GRWPHP85M19Z222U |
|
|
Residence: |
Emilio Caldara |
, 31 |
- 20100 |
Milano |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
26/05/2009 |
||
|
Sole partner |
03/03/2010 |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
Companies connected to members *
*checkings have been performed on a national
scale.
In this module the companies in which members
hold/held positions are listed.
The Members of the subject firm are not
reported to be Members in other companies.
Capital Shareholders
Shareholders' list as at date of data
collection:
|
Firm's Style / Name |
Seat / Residence |
Fiscal Code |
Owned Shares |
% Ownership |
|
Agrawal Pushpendra |
Milano - IT - |
GRWPHP85M19Z222U |
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 |
|
Il Tari'- Societa' Consortile Per Azioni |
Marcianise - IT - |
05825080632 |
14.094 .Eur |
0,36 |
Active |
||
|
Oromare- Societa' Consortile Per Azioni In
Forma Abbreviata Oromare - S.c.p.a. |
Marcianise - IT - |
03537031217 |
22.028 .Eur |
0,29 |
Active |
Firm's location and structure
In order to carry out its activities the firm
uses the following locations:
|
- |
Legal and operative seat |
|
Toti Enrico |
, 2 |
- 20100 |
- Milano |
(MI) |
- IT - |
|
PHONE |
: 0276003326 |
|
Legal mail |
: EUROGEMS@PEC.EUROGEMSSRL.COM |
|
- |
Branch |
(Sales office) |
since 30/08/2005 |
|
Macchiavelli |
, 3 |
- 15048 |
- Valenza |
(AL) |
- IT - |
|
- |
Branch |
since 04/10/2011 |
|
Mazzini Giuseppe |
, 12 |
- 20100 |
- Milano |
(MI) |
- IT - |
|
PHONE |
: 0272003227 |
|
FAX |
: 0272008678 |
|
Employees |
: 8 |
|
Assistants |
: 1 |
|
Fittings and Equipment for a value of
20.000 |
Eur |
|
Stocks for a value of 1.480.000 |
Eur |
Historical Information and/or Firm's Status
CHANGES TO THE LEGAL FORM:
|
Former legal form |
New legal form |
Changement Date |
|
Limited partnership |
Limited liability company |
22/05/2008 |
COMPANY STYLE MODIFICATIONS:
|
Former Style |
New Style |
Changement Date |
|
EURO GEMS SAS DI DILIP KUMAR DAMAMI |
EURO GEMS S.A.S. DI AGARWAL MAHENDRAKUMAR |
29/11/2004 |
|
EURO GEMS S.A.S. DI AGARWAL MAHENDRAKUMAR |
EURO GEMS S.R.L. |
11/06/2008 |
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.
National Real Estates Survey
The firm under review, by the reported
percentages, owns the following real estates:
|
Town |
Cadastre |
No. Immovables |
Up to Date |
|
VALENZA (AL) |
Buildings |
2 |
30/01/2018 |
|
MARCIANISE (CE) |
Buildings |
5 |
30/01/2018 |
|
Buildings Details |
|
Cadastre |
Title |
Location |
Sheet No. |
Particle No. |
Sub No. |
Categorie |
Classe |
Consistence |
Cadastrial Rent |
Part No. |
|
B |
Proprieta' per 1/1 |
VALENZA (AL) VIA G. MELGARA, Piano S1 -
0001 |
VAL/25 |
130 |
4 |
cat. A/10 |
4 |
3 vani |
Euro:890,89 |
|
|
B |
Proprieta' per 1/1 |
VALENZA (AL) VIA G. MELGARA, Piano S1 -
0001 |
VAL/25 |
130 |
5 |
cat. A/10 |
4 |
7 vani |
Euro:2.078,74 |
|
|
B |
Proprieta' per 1/1 |
MARCIANISE (CE) STRADA PROVINCIALE 22 - KM 1,750,
Piano T int. 19 |
19 |
5114 |
19 |
cat. D/8 |
Euro: 1.000,00 |
|||
|
B |
Proprieta' per 1/1 |
MARCIANISE (CE) ZONA AGGLOMERATO SVILUPPO
INDUSTRIALE, Piano 1 |
24 |
5015 |
200 |
cat. D/8 |
Euro: 1.752,65 |
|||
|
B |
Proprieta' per 1/1 |
MARCIANISE (CE) ZONA AGGLOMERATO SVILUPPO
INDUSTRIALE, Piano S1 |
24 |
5015 |
506 |
cat. C/6 |
1 |
12 mq |
Euro:29,75 |
|
|
B |
Proprieta' per 1/1 |
MARCIANISE (CE) ZONA AGGLOMERATO SVILUPPO
INDUSTRIALE, Piano S1 |
24 |
5015 |
700 |
cat. C/6 |
1 |
12 mq |
Euro:29,75 |
|
|
B |
Proprieta' per 1/1 |
MARCIANISE (CE) ZONA AGGLOMERATO SVILUPPO
INDUSTRIALE, SNC Piano T |
24 |
5073 |
116 |
cat. C/6 |
1 |
12 mq |
Euro:29,75 |
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
Subject is active since 2002
Balance sheets for the years 2014, 2015 and
2016 were analyzed.
During the last years the subject suffered
net losses and in 2016 r.o.e. is -14,52%.
The operating result in 2016 was positive
(1,91%) and in line with the sector's average.
An operating result of Eur. 90.171 has been
registered. showing an upward trend more then 100% compared to the previous
financial year.
The economic management produced a gross
operating margin of Eur. 120.890 with a more then 100% growth.
The financial position is not well balanced
as the volume of debts is fairly remarkable if compared to shareholder's
equity, in fact total debts are 4,41 increasing as against 2015.
The equity capital is equal to Eur. 785.950 ,
unchanged as opposed to the preceding year.
During the last financial year debts totalled
Eur. 3.628.199 (Eur. 127.219 of which were m/l term debts) showing a stable
trend as opposed to 2015 (Eur. 3.628.043).
Liquidity is good.
(Eur. -83.415) is the negative value of the
cash flow.
Labour cost expenses amount to Eur. 252.614 ,
representing 5,95% on the total of production costs. and a 5,97% incidence on
sales volumes.
High incidence of financial charges on
turnover.
Financial Data
|
|
Complete balance-sheet for the year |
al 31/12/2016 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
4.229.889 |
|
Profit (Loss) for the period |
-114.134 |
|
|
Complete balance-sheet for the year |
al 31/12/2015 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
4.495.520 |
|
Profit (Loss) for the period |
-238.530 |
|
|
Complete balance-sheet for the year |
al 31/12/2014 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
4.363.133 |
|
Profit (Loss) for the period |
-31.160 |
|
|
Complete balance-sheet for the year |
al 31/12/2013 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
4.093.629 |
|
Profit (Loss) for the period |
-82.285 |
|
|
Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
4.210.555 |
|
Profit (Loss) for the period |
17.281 |
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 |
0,13 |
0,13 |
0,11 |
0,09 |
|
Elasticity Ratio |
Units |
0,87 |
0,87 |
0,89 |
0,89 |
|
Availability of stock |
Units |
0,31 |
0,30 |
0,46 |
0,26 |
|
Total Liquidity Ratio |
Units |
0,56 |
0,57 |
0,43 |
0,54 |
|
Quick Ratio |
Units |
0,01 |
0,02 |
0,01 |
0,03 |
|
COMPOSITION ON SOURCE |
|||||
|
Net Short-term indebtedness |
Units |
4,41 |
3,73 |
3,62 |
3,95 |
|
Self Financing Ratio |
Units |
0,17 |
0,19 |
0,20 |
0,17 |
|
Capital protection Ratio |
Units |
1,02 |
1,15 |
0,94 |
0,62 |
|
Liabilities consolidation quotient |
Units |
0,06 |
0,07 |
0,06 |
0,10 |
|
Financing |
Units |
4,62 |
4,03 |
3,85 |
4,85 |
|
Permanent Indebtedness Ratio |
Units |
0,21 |
0,23 |
0,24 |
0,29 |
|
M/L term Debts Ratio |
Units |
0,05 |
0,05 |
0,04 |
0,07 |
|
Net Financial Indebtedness Ratio |
Units |
n.c. |
0,88 |
0,76 |
1,04 |
|
CORRELATION |
|||||
|
Fixed assets ratio |
Units |
1,67 |
1,85 |
2,20 |
2,37 |
|
Current ratio |
Units |
1,18 |
1,21 |
1,22 |
1,18 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
0,75 |
0,80 |
0,59 |
0,80 |
|
Structure's primary quotient |
Units |
1,31 |
1,47 |
1,80 |
1,48 |
|
Treasury's primary quotient |
Units |
0,01 |
0,03 |
0,02 |
0,04 |
|
Rate of indebtedness ( Leverage ) |
% |
600,91 |
535,89 |
505,87 |
602,26 |
|
Current Capital ( net ) |
Value |
615.560 |
733.056 |
929.850 |
191.984 |
|
RETURN |
|||||
|
Return on Sales |
% |
-1,97 |
-4,40 |
0,32 |
2,03 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
-14,52 |
-26,50 |
-2,74 |
6,31 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
-13,84 |
-25,59 |
-1,98 |
17,00 |
|
Return on Investment ( R.O.I. ) |
% |
1,91 |
-0,34 |
0,50 |
4,18 |
|
Return/ Sales |
% |
2,13 |
-0,36 |
0,66 |
3,46 |
|
Extra Management revenues/charges incid. |
% |
-126,58 |
n.c. |
-108,35 |
27,96 |
|
Cash Flow |
Value |
-83.415 |
-197.808 |
14.113 |
44.823 |
|
Operating Profit |
Value |
90.171 |
-16.236 |
28.758 |
74.603 |
|
Gross Operating Margin |
Value |
120.890 |
24.486 |
74.031 |
111.383 |
|
MANAGEMENT |
|||||
|
Credits to clients average term |
Days |
n.c. |
212,78 |
185,10 |
113,70 |
|
Debts to suppliers average term |
Days |
n.c. |
316,28 |
280,54 |
118,14 |
|
Average stock waiting period |
Days |
125,84 |
114,69 |
217,79 |
72,90 |
|
Rate of capital employed return ( Turnover
) |
Units |
0,90 |
0,93 |
0,76 |
1,25 |
|
Rate of stock return |
Units |
2,86 |
3,14 |
1,65 |
4,88 |
|
Labour cost incidence |
% |
5,97 |
5,31 |
5,54 |
8,14 |
|
Net financial revenues/ charges incidence |
% |
-4,68 |
-4,73 |
-0,31 |
-1,38 |
|
Labour cost on purchasing expenses |
% |
5,95 |
7,06 |
5,27 |
8,25 |
|
Short-term financing charges |
% |
5,46 |
5,87 |
0,30 |
2,76 |
|
Capital on hand |
% |
111,65 |
107,30 |
132,01 |
79,85 |
|
Sales pro employee |
Value |
604.269 |
642.217 |
623.304 |
397.742 |
|
Labour cost pro employee |
Value |
36.087 |
34.086 |
34.543 |
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 |
: |
3.839.216 |
|
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 shows
periods of crisis.
The area is statistically considered lowly
risky.
In the region 50.886 protested subjects are found;
in the province they count to 24.765.
The insolvency index for the region is 0,55,
, while for the province it is 0,66.
Total Bankrupt companies in the province :
22.523.
Total Bankrupt companies in the region :
39.612.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 63.61 |
|
|
1 |
INR 90.17 |
|
Euro |
1 |
INR 78.95 |
|
Euro |
1 |
INR 80.07 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
NIY |
|
|
|
|
Report Prepared
by : |
TPT |
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.