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|
MIRA INFORM REPORT
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Report No. : |
489861 |
|
Report Date : |
05.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
CASATI MACCHINE - SRL |
|
|
|
|
Registered Office : |
Via Bonvesin Della Riva, 0006, 20027- Rescaldina(MI)-IT |
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|
Country : |
Italy |
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Financials (as on) : |
31.12.2016 |
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|
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Date of Incorporation : |
07.09.1981 |
|
|
|
|
Legal Form : |
Limited liability
company |
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|
|
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Line of Business : |
Wholesale of machine tools |
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|
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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 : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 and address
|
Casati Macchine - Srl |
|
Via |
Bonvesin Della Riva, |
0006 |
|
20027 |
- Rescaldina |
(MI) |
-IT- |
Summary
|
Fiscal Code |
: |
06235210157 |
|
Legal Form |
: |
Limited liability company |
|
Establishment Date |
: |
07/09/1981 |
|
Equity |
: |
750.000 |
|
Turnover Range |
: |
1.500.000/2.000.000 |
|
Number of Employees |
: |
from 16 to 25 |
Activity
Wholesale of machine tools
Legal Data
Legal Form : Limited liability company
|
Fiscal Code : 06235210157 |
|
Foreign Trade Reg. no. : MI075933 since 27/12/1991 |
|
Chamber of Commerce no. : 1079466 of Milano since
06/10/1981 |
|
Chamber of Commerce no. : 281862 of Varese |
|
V.A.T. Code : 06235210157 |
|
Establishment date |
: 07/09/1981 |
|
|
Legal duration |
: 31/12/2050 |
|
|
Nominal Capital |
: 93.600 |
|
|
Subscribed Capital |
: 93.600 |
|
|
Paid up Capital |
: 93.600 |
|
Legal mail : |
CASATIMACCHINE@PEC.IT |
Members
|
Casati |
Donatella |
|
Born in Rescaldina |
(MI) |
on 06/09/1958 |
- Fiscal Code : CSTDTL58P46H240V |
|
Residence: |
Zaroli |
, 29 |
- 20025 |
Legnano |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
29/04/2005 |
||
|
Partner |
|
No Prejudicial events are reported |
|
No Protests registered |
|
Casati |
Eligio |
|
Born in Rescaldina |
(MI) |
on 29/08/1947 |
- Fiscal Code : CSTLGE47M29H240L |
|
Residence: |
Legnano |
, 27 |
- 20027 |
Rescaldina |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
29/04/2005 |
||
|
Board Chairman |
29/04/2005 |
|
No Prejudicial events are reported |
|
No Protests registered |
|
Casati |
Giorgio |
|
Born in Rescaldina |
(MI) |
on 28/09/1949 |
- Fiscal Code : CSTGRG49P28H240M |
|
Residence: |
Prealpi |
, 2 |
- 21047 |
Saronno |
(VA) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
29/04/2005 |
||
|
Managing Director |
29/04/2005 |
|
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.
|
Casati |
Eligio |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Casim - S.r.l. |
Legnano (MI) - IT - |
07650940963 |
Director |
Active |
Registered |
|
Casati |
Giorgio |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Casim - S.r.l. |
Legnano (MI) - IT - |
07650940963 |
Director |
Active |
Registered |
|
Casim - S.r.l. |
Legnano (MI) - IT - |
07650940963 |
Board Chairman |
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 |
|
Casati Donatella |
Legnano - IT - |
CSTDTL58P46H240V |
31.200 .Eur |
33,33 |
|
Casati Eligio |
Rescaldina - IT - |
CSTLGE47M29H240L |
31.200 .Eur |
33,33 |
|
Casati Giorgio |
Saronno - IT - |
CSTGRG49P28H240M |
31.200 .Eur |
33,33 |
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 |
|
Bonvesin Della Riva |
, 0006 |
- 20027 |
- Rescaldina |
(MI) |
- IT - |
|
PHONE |
: 0331576301 |
|
Legal mail |
: CASATIMACCHINE@PEC.IT |
|
- |
Branch |
(Factory) |
since 15/07/2002 |
|
Tonale |
, 398 |
- 21050 |
- Marnate |
(VA) |
- IT - |
|
Employees |
: 20 |
|
Fittings and Equipment for a value of 34.000 |
Eur |
|
Stocks for a value of 910.000 |
Eur |
The firm operates abroad as exporter..
Export represents from 20% to 50% of the global
turnover.
Products abroad are placed by :
|
- importers |
|
- direct orders from foreign companies |
Export is mainly towards:
|
- Poland |
|
- Greece |
|
- France |
|
- Ireland |
|
- Austria |
|
- Italy |
Historical Information and/or Firm's Status
CEASINGS/INCORPORATIONS/MERGES:
|
Splitting-up project and setting-up of new co |
|
Date |
Merging/Splitting-up Project-New Company: |
18/10/2011 |
|
Splitting-up and setting-up of a new company |
|
CASIM - S.R.L. |
|
, Legnano |
- IT - |
|
Date |
Splitting-up: |
21/12/2011 |
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
Subject is active since 1981
The economic-financial analysis has been made on
the base of the b/s of the latests three years.
In the economic management , good and bad results
followed on by turns. yet with a positive result in the 2016 (r.o.e. 0,8%).
The operating result was positive in the last
financial year (0,99%) and in line with the sector's average.
The amount of the operating result for the year
2016 is of Eur. 16.486 increasing if compared to the yeart 2015.
A gross operating margine for a value of Eur.
46.105 was reached. growing by more then 100% if compared to the year before.
The company has an excellent net worth if compared
to its debts, with a low indebtedness (0,42) and with an upward trend compared
to the previous year.
The equity capital is equal to Eur. 630.767 ,
unchanged if compared to 2015.
In the year 2016 total debts amounted to Eur.
649.479 showing a stable trend as opposed to 2015 (Eur. 641.428).
Current liquid assets is positive.
During financial year 2016 the cash flow amounted
to Eur. 34.637
In the last financial year labour cost was of Eur.
642.079, with a 37,95% incidence on total costs of production. , with a 37,05% incidence
on turnover.
The incidence of the financial charges is of -0,11%
on the sales amount.
Financial Data
|
Complete balance-sheet for the year |
al 31/12/2016 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
1.733.142 |
|
Profit (Loss) for the period |
5.018 |
|
Complete balance-sheet for the year |
al 31/12/2015 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
1.605.680 |
|
Profit (Loss) for the period |
-131.400 |
|
Complete balance-sheet for the year |
al 31/12/2014 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
1.443.016 |
|
Profit (Loss) for the period |
-24.902 |
|
Complete balance-sheet for the year |
al 31/12/2013 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
1.700.037 |
|
Profit (Loss) for the period |
-33.706 |
|
Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
1.448.693 |
|
Profit (Loss) for the period |
-12.740 |
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 |
0,04 |
0,06 |
0,07 |
0,10 |
|
Elasticity Ratio |
Units |
0,95 |
0,94 |
0,93 |
0,87 |
|
Availability of stock |
Units |
0,55 |
0,57 |
0,57 |
0,21 |
|
Total Liquidity Ratio |
Units |
0,41 |
0,37 |
0,36 |
0,61 |
|
Quick Ratio |
Units |
0,20 |
0,11 |
0,15 |
0,03 |
|
COMPOSITION ON SOURCE |
|||||
|
Net Short-term indebtedness |
Units |
0,42 |
0,58 |
0,25 |
4,04 |
|
Self Financing Ratio |
Units |
0,38 |
0,37 |
0,43 |
0,16 |
|
Capital protection Ratio |
Units |
0,84 |
1,06 |
0,91 |
0,59 |
|
Liabilities consolidation quotient |
Units |
0,73 |
0,96 |
1,19 |
0,11 |
|
Financing |
Units |
1,03 |
1,03 |
0,67 |
4,85 |
|
Permanent Indebtedness Ratio |
Units |
0,64 |
0,68 |
0,74 |
0,26 |
|
M/L term Debts Ratio |
Units |
0,26 |
0,31 |
0,31 |
0,07 |
|
Net Financial Indebtedness Ratio |
Units |
n.c. |
n.c. |
n.c. |
1,01 |
|
CORRELATION |
|||||
|
Fixed assets ratio |
Units |
15,31 |
11,99 |
10,57 |
2,12 |
|
Current ratio |
Units |
2,65 |
2,91 |
3,56 |
1,16 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
1,13 |
1,15 |
1,37 |
0,88 |
|
Structure's primary quotient |
Units |
9,02 |
6,53 |
6,13 |
1,40 |
|
Treasury's primary quotient |
Units |
0,55 |
0,34 |
0,59 |
0,04 |
|
Rate of indebtedness ( Leverage ) |
% |
264,74 |
270,76 |
233,07 |
620,22 |
|
Current Capital ( net ) |
Value |
991.738 |
1.045.113 |
1.176.235 |
131.414 |
|
RETURN |
|||||
|
Return on Sales |
% |
2,00 |
-6,27 |
0,15 |
2,27 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
0,80 |
-21,00 |
-3,29 |
6,70 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
2,31 |
-24,60 |
-2,15 |
18,85 |
|
Return on Investment ( R.O.I. ) |
% |
0,99 |
-9,18 |
-0,92 |
4,76 |
|
Return/ Sales |
% |
0,95 |
-9,69 |
-1,12 |
3,70 |
|
Extra Management revenues/charges incid. |
% |
30,44 |
n.c. |
n.c. |
28,15 |
|
Cash Flow |
Value |
34.637 |
-100.610 |
2.183 |
39.655 |
|
Operating Profit |
Value |
16.486 |
-155.607 |
-16.226 |
63.123 |
|
Gross Operating Margin |
Value |
46.105 |
-124.817 |
10.859 |
99.042 |
|
MANAGEMENT |
|||||
|
Credits to clients average term |
Days |
n.c. |
n.c. |
n.c. |
119,16 |
|
Debts to suppliers average term |
Days |
n.c. |
n.c. |
n.c. |
116,83 |
|
Average stock waiting period |
Days |
189,40 |
215,52 |
251,25 |
58,39 |
|
Rate of capital employed return ( Turnover ) |
Units |
1,04 |
0,95 |
0,82 |
1,36 |
|
Rate of stock return |
Units |
1,90 |
1,67 |
1,43 |
6,14 |
|
Labour cost incidence |
% |
37,05 |
42,83 |
45,72 |
8,98 |
|
Net financial revenues/ charges incidence |
% |
-0,11 |
-0,12 |
0,00 |
-1,08 |
|
Labour cost on purchasing expenses |
% |
37,95 |
36,52 |
41,52 |
8,98 |
|
Short-term financing charges |
% |
0,31 |
0,29 |
0,04 |
2,60 |
|
Capital on hand |
% |
96,35 |
105,52 |
122,29 |
73,17 |
|
Sales pro employee |
Value |
86.657 |
76.460 |
72.150 |
394.001 |
|
Labour cost pro employee |
Value |
32.103 |
32.745 |
32.989 |
34.340 |
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 2.551
significant companies.
The companies cash their credits on an average of
119 dd.
The average duration of suppliers debts is about
117 dd.
The sector's profitability is on an average of
2,27%.
The labour cost affects the turnover in the measure
of 8,98%.
Goods are held in stock in a range of 58 dd.
The difference between the sales volume and the
resources used to realize it is about 1,36.
The employees costs represent the 8,98% 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 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 64.08 |
|
|
1 |
INR 91.34 |
|
Euro |
1 |
INR 80.03 |
|
Euro |
1 |
INR 79.90 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
PRA |
|
|
|
|
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.