|
|
|
MIRA INFORM REPORT
|
Report No. : |
489046 |
|
Report Date : |
05.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
ITALWEAR'S S.R.L. |
|
|
|
|
Registered Office : |
Viale Europa,
32 46042 - Castel Goffredo (MN) -IT- |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2016 |
|
|
|
|
Date of Incorporation : |
10.07.1998 |
|
|
|
|
Legal Form : |
Limited liability company |
|
|
|
|
Line of Business : |
·
Wholesale of clothing and accessories ·
Retail sale of clothing in specialised
stores |
|
|
|
|
No. of Employees : |
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 |
|
|
|
|
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 and address
Italwear's S.r.l.
Viale Europa, 32 46042 -
Castel Goffredo (MN) -IT-
Summary
|
Fiscal Code |
: |
01861720207 |
|
Legal Form |
: |
Limited liability company |
|
start of Activities |
: |
01/12/1998 |
|
Equity |
: |
2.500.000 |
|
Turnover Range |
: |
7.750.000/9.000.000 |
|
Number of Employees |
: |
from 16 to 25 |
Activity
Wholesale of clothing and accessories
Retail sale of clothing in specialised stores
Legal
Data
Legal Form : Limited liability company
|
Fiscal Code : 01861720207 |
|
Foreign Trade Reg. no. : MN018605 since 16/05/2001 |
|
Chamber of Commerce no. : 2005084 of Milano |
|
Chamber of Commerce no. : 204241 of Mantova since 09/09/1998 |
|
Firms' Register : MN-1998-43408 of Mantova since 10/09/1998 |
|
V.A.T. Code : 01861720207 |
|
R. E. C. no. : 31439 of Mantova since 03/02/1999 |
|
R. E. C. no. : 31459 of Mantova since 03/02/1999 |
|
Foundation date |
: 10/07/1998 |
|
|
Establishment date |
: 10/07/1998 |
|
|
Start of Activities |
: 01/12/1998 |
|
|
Legal duration |
: 31/12/2050 |
|
|
Nominal Capital |
: 25.500 |
|
|
Subscribed Capital |
: 25.500 |
|
|
Paid up Capital |
: 25.500 |
|
Legal mail : |
ITALWEAR@PEC.TESIINFORMATICA.NET |
Members
|
|
Brunello |
Giuliana |
|
|
Born in Redondesco |
(MN) |
on 28/08/1965 |
- Fiscal Code : BRNGLN65M68H218Z |
|
|
Residence: |
Europa |
, 30/A |
- 46042 |
Castel Goffredo |
(MN) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
10/07/1998 |
||
|
Managing Director |
10/07/1998 |
||
|
Person in charge |
03/02/1999 |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Zaltieri |
Roberto |
|
|
Born in Castel Goffredo |
(MN) |
on 26/08/1963 |
- Fiscal Code : ZLTRRT63M26C118L |
|
|
Residence: |
Europa |
, 30/A |
- 46042 |
Castel Goffredo |
(MN) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Board Chairman |
10/07/1998 |
||
|
Managing Director |
10/07/1998 |
||
|
Director |
10/07/1998 |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Zaltieri |
Denis |
|
|
Born in Castiglione delle Stiviere |
(MN) |
on 05/06/1988 |
- Fiscal Code : ZLTDNS88H05C312F |
|
|
Residence: |
Teatro |
, 11 |
- 25015 |
Desenzano del Garda |
(BS) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
22/06/2015 |
||
|
Managing Director |
25/08/2015 |
|
|
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.
|
|
Brunello |
Giuliana |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
ITALWEAR'S - S.N.C. DI BRUNELLO eamp; C. |
Medole (MN) - IT - |
01402740201 |
Partner |
Active |
Registered |
|
Clan S.r.l. |
Castel Goffredo (MN) - IT - |
01653360204 |
Director |
Withdrawn |
Registered |
|
Pentagono Srl |
Castel Goffredo (MN) - IT - |
01675200206 |
Director |
Withdrawn |
Registered |
|
Pentagono Srl |
Castel Goffredo (MN) - IT - |
01675200206 |
Assistant board Chairman |
Withdrawn |
Registered |
|
Dea S.r.l. |
Mantova (MN) - IT - |
02040570208 |
Director |
Active |
Registered |
|
|
Zaltieri |
Roberto |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Clan S.r.l. |
Castel Goffredo (MN) - IT - |
01653360204 |
Vice-Chairman |
Withdrawn |
Registered |
|
Clan S.r.l. |
Castel Goffredo (MN) - IT - |
01653360204 |
Managing Director |
Withdrawn |
Registered |
|
Pentagono Srl |
Castel Goffredo (MN) - IT - |
01675200206 |
Director |
Withdrawn |
Registered |
|
ZALTIERI ROBERTO |
Castel Goffredo (MN) - IT - |
ZLTRRT63M26C118L |
Proprietor |
Withdrawn |
Registered |
|
Dea S.r.l. |
Mantova (MN) - IT - |
02040570208 |
Director |
Active |
Registered |
|
Dea S.r.l. |
Mantova (MN) - IT - |
02040570208 |
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 |
|
Brunello Giuliana |
Castel Goffredo - IT - |
BRNGLN65M68H218Z |
12.750 .Eur |
50,00 |
|
Zaltieri Roberto |
Castel Goffredo - IT - |
ZLTRRT63M26C118L |
12.750 .Eur |
50,00 |
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 |
|
Europa |
, 32 |
- 46042 |
- Castel Goffredo |
(MN) |
- IT - |
|
PHONE |
: 0376780101 |
|
FAX |
: 0376771024 |
|
Legal mail |
: ITALWEAR@PEC.TESIINFORMATICA.NET |
|
- |
Branch |
(Warehouse) |
since 02/05/2001 |
|
Europa |
, C.M. |
- 46042 |
- Castel Goffredo |
(MN) |
- IT - |
|
Employees |
: 15 |
|
Assistants |
: 2 |
|
Fittings and Equipment for a value of 3.000 |
Eur |
|
Stocks for a value of 4.460.000 |
Eur |
Historical
Information and/or Firm's Status
CEASINGS/INCORPORATIONS/MERGES:
|
|
Project of merging by taking over of |
|
|
|
|
San Giovanni |
, 1/3 |
, 46042 |
, Castel Goffredo |
(MN) |
- IT - |
|
|
Fiscal Code: 01675200206 |
|
|
Date |
Merging/splitting-up project: |
06/06/2012 |
|
|
The firm absorbed by merging of |
|
|
|
|
San Giovanni |
, 1/3 |
, 46042 |
, Castel Goffredo |
(MN) |
- IT - |
|
|
Fiscal Code: 01675200206 |
|
|
Date |
: |
20/11/2012 |
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 |
|
CASTEL GOFFREDO (MN) |
Buildings |
2 |
26/01/2018 |
|
CASTEL GOFFREDO (MN) |
Land |
1 |
26/01/2018 |
|
Buildings Details |
|
Cadastre |
Title |
Location |
Sheet No. |
Particle No. |
Sub No. |
Categorie |
Classe |
Consistence |
Cadastrial Rent |
Part No. |
|
B |
Proprieta' per 1/1 |
CASTEL GOFFREDO (MN) VIALE EUROPA, 24 Piano T-1 |
23 |
198 |
1 |
cat. D/8 |
Euro: 25.470,62 |
|||
|
B |
Proprieta' per 1/1 |
CASTEL GOFFREDO (MN) VIALE EUROPA, 34 Piano T |
24 |
216 |
303 |
cat. D/8 |
Euro: 8.645,49 |
1002183 |
|
Land Details |
|
Cadastre |
Title |
Location |
Sheet No. |
Particle No. |
Sub No. |
Category |
Class |
Consistence |
Cadastrial Rent |
Part No. |
|
L |
Proprieta' per 1/1 |
CASTEL GOFFREDO (MN) |
24 |
221 |
SEMINATIVO |
1 |
4 are 80 ca |
R.D.Euro:5,38 (*) R.A. Euro: 4,46 |
5304 |
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 1998.
The eonomic-financial analysis is based on the latest 3 b/s.
Under an economic point of view, profits were registered during
the last years with a r.o.e. of 0,82% in 2016 keeping the turnover steady
during the last two years.
The operating result was positive in the last financial year
(1,71%) falling within the field's average.
An operating result of Eur. 170.466 has been registered. with a
-38,11% fall as against the year 2015.
The G.O.M. amounted to Eur. 266.009 showing a downward trend as
opposed to the previous year.
Company's financial status is balanced since indebtedness is not
high (2,32) even though on the increase if compared to 2015.
With regard to equity capital, an amount of Eur. 2.307.771 is
registered. on stable levels.
Total debts recorded amounted to Eur. 7.264.501 (Eur. 1.868.935 of
which were m/l term debts) , with no sensible variation.
Available funds are good.
During financial year 2016 the cash flow amounted to Eur. 114.424
Labour cost amounts to Eur. 569.830, with a 6,37% incidence on
production costs. and a 6,37% incidence on sales volumes.
Limited financial charges in relation to sales volume.
Financial
Data
|
|
Complete balance-sheet for the year |
al 31/12/2016 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
8.939.637 |
|
Profit (Loss) for the period |
18.881 |
|
|
Complete balance-sheet for the year |
al 31/12/2015 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
9.307.709 |
|
Profit (Loss) for the period |
71.195 |
|
|
Complete balance-sheet for the year |
al 31/12/2014 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
7.349.718 |
|
Profit (Loss) for the period |
22.772 |
|
|
Complete balance-sheet for the year |
al 31/12/2013 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
10.159.256 |
|
Profit (Loss) for the period |
118.312 |
|
|
Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
8.653.056 |
|
Profit (Loss) for the period |
53.125 |
Financials
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 |
0,24 |
0,27 |
0,29 |
0,13 |
|
Elasticity Ratio |
Units |
0,75 |
0,73 |
0,70 |
0,85 |
|
Availability of stock |
Units |
0,45 |
0,37 |
0,44 |
0,54 |
|
Total Liquidity Ratio |
Units |
0,31 |
0,36 |
0,26 |
0,22 |
|
Quick Ratio |
Units |
0,00 |
0,02 |
0,00 |
0,04 |
|
COMPOSITION ON SOURCE |
|||||
|
Net Short-term indebtedness |
Units |
2,32 |
2,09 |
1,68 |
4,36 |
|
Self Financing Ratio |
Units |
0,23 |
0,26 |
0,27 |
0,14 |
|
Capital protection Ratio |
Units |
0,98 |
0,96 |
0,98 |
0,56 |
|
Liabilities consolidation quotient |
Units |
0,37 |
0,27 |
0,54 |
0,15 |
|
Financing |
Units |
3,15 |
2,69 |
2,56 |
5,86 |
|
Permanent Indebtedness Ratio |
Units |
0,43 |
0,41 |
0,51 |
0,31 |
|
M/L term Debts Ratio |
Units |
0,20 |
0,15 |
0,25 |
0,10 |
|
Net Financial Indebtedness Ratio |
Units |
n.c. |
n.c. |
n.c. |
0,98 |
|
CORRELATION |
|||||
|
Fixed assets ratio |
Units |
1,77 |
1,52 |
1,75 |
2,02 |
|
Current ratio |
Units |
1,39 |
1,30 |
1,54 |
1,15 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
0,57 |
0,64 |
0,57 |
0,36 |
|
Structure's primary quotient |
Units |
0,95 |
0,96 |
0,91 |
1,06 |
|
Treasury's primary quotient |
Units |
0,01 |
0,03 |
0,01 |
0,07 |
|
Rate of indebtedness ( Leverage ) |
% |
432,61 |
385,15 |
372,09 |
707,22 |
|
Current Capital ( net ) |
Value |
2.126.182 |
1.469.614 |
2.023.957 |
61.776 |
|
RETURN |
|||||
|
Return on Sales |
% |
1,28 |
1,81 |
1,73 |
2,62 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
0,82 |
3,11 |
1,03 |
6,19 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
2,98 |
6,40 |
3,13 |
15,72 |
|
Return on Investment ( R.O.I. ) |
% |
1,71 |
3,12 |
2,44 |
3,25 |
|
Return/ Sales |
% |
1,91 |
2,96 |
2,73 |
2,94 |
|
Extra Management revenues/charges incid. |
% |
11,08 |
25,85 |
11,33 |
31,16 |
|
Cash Flow |
Value |
114.424 |
168.510 |
127.329 |
20.178 |
|
Operating Profit |
Value |
170.466 |
275.459 |
201.004 |
23.558 |
|
Gross Operating Margin |
Value |
266.009 |
373.397 |
306.157 |
40.605 |
|
MANAGEMENT |
|||||
|
Credits to clients average term |
Days |
n.c. |
n.c. |
n.c. |
26,46 |
|
Debts to suppliers average term |
Days |
n.c. |
n.c. |
n.c. |
152,76 |
|
Average stock waiting period |
Days |
179,62 |
124,70 |
178,19 |
158,60 |
|
Rate of capital employed return ( Turnover ) |
Units |
0,90 |
1,06 |
0,89 |
1,10 |
|
Rate of stock return |
Units |
2,00 |
2,89 |
2,02 |
2,21 |
|
Labour cost incidence |
% |
6,37 |
6,10 |
7,50 |
10,29 |
|
Net financial revenues/ charges incidence |
% |
-1,14 |
-1,37 |
-1,90 |
-1,31 |
|
Labour cost on purchasing expenses |
% |
6,37 |
6,25 |
7,64 |
10,25 |
|
Short-term financing charges |
% |
1,40 |
2,08 |
2,47 |
2,10 |
|
Capital on hand |
% |
111,68 |
94,71 |
112,28 |
90,76 |
|
Sales pro employee |
Value |
525.861 |
547.512 |
432.336 |
267.102 |
|
Labour cost pro employee |
Value |
33.519 |
33.399 |
32.411 |
30.754 |
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 |
: |
|
|
Population living in the region |
: |
|
|
Number of families in the region |
: |
|
Monthly family expences average in the region (in Eur..) :
|
- per food products |
: |
|
|
- per non food products |
: |
|
|
- per energy consume |
: |
|
Sector
Data
The values are calculated on a base of 2.211 significant
companies.
The companies cash their credits on an average of 26 dd.
The average duration of suppliers debts is about 153 dd.
The sector's profitability is on an average of 2,62%.
The labour cost affects the turnover in the measure of 10,29%.
Goods are held in stock in a range of 159 dd.
The difference between the sales volume and the resources used to
realize it is about 1,10.
The employees costs represent the 10,25% 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 1.630.
The insolvency index for the region is 0,55, , while for the
province it is 0,42.
Total Bankrupt companies in the province : 954.
Total Bankrupt companies in the region : 39.612.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 63.08 |
|
|
1 |
INR 91.34 |
|
Euro |
1 |
INR 80.03 |
|
Euro |
1 |
INR 79.85 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
KET |
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.