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|
|
MIRA INFORM REPORT
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Report No. : |
490210 |
|
Report Date : |
05.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
TOP PROFESSIONAL - S.R.L |
|
|
|
|
Registered Office : |
Via Leonardo Sciascia, 110,
41123- Modena(MO)-IT |
|
|
|
|
Country : |
Italy |
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|
|
|
Financials (as on) : |
31.12.2016 |
|
|
|
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Date of Incorporation : |
15.12.1967 |
|
|
|
|
Legal Form : |
Limited liability
company |
|
|
|
|
Line of Business : |
Manufacture of sportwear or other particular
apparel |
|
|
|
|
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 : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
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|
|
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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
|
Top Professional - S.r.l. |
|
Via |
Leonardo Sciascia, |
110 |
|
41123 |
- Modena |
(MO) |
-IT- |
Summary
|
Fiscal Code |
: |
00170020366 |
|
Legal Form |
: |
Limited liability company |
|
Foundation Date |
: |
15/12/1967 |
|
Equity |
: |
500.000 |
|
Turnover Range |
: |
1.250.000/1.500.000 |
|
Number of Employees |
: |
fom 6 to 10 |
Activity
Manufacture of sportwear or other particular
apparel
Legal Data
Legal Form : Limited liability company
|
Fiscal Code : 00170020366 |
|
Chamber of Commerce no. : 361808 of Bologna |
|
Chamber of Commerce no. : 128120 of Modena since
21/12/1967 |
|
V.A.T. Code : 00170020366 |
|
Tribunal Co. Register : 5304 of |
|
Foundation date |
: 15/12/1967 |
|
|
Establishment date |
: 15/12/1967 |
|
|
Legal duration |
: 31/12/2025 |
|
|
Nominal Capital |
: 98.000 |
|
|
Subscribed Capital |
: 98.000 |
|
|
Paid up Capital |
: 98.000 |
|
Legal mail : |
TOP-PROFESSIONAL@PEC.CONFARTIGIANATO.IT |
Members
|
Bandieri |
Giovanni |
|
Born in Modena |
(MO) |
on 27/06/1975 |
- Fiscal Code : BNDGNN75H27F257T |
|
Residence: |
Salimbeni |
, 11 |
- 41100 |
Modena |
(MO) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Sole Director |
05/04/2012 |
|
No Prejudicial events are reported |
|
No Protests registered |
|
Schomberg Maria Luisa |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Partner |
|
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 |
|
Bandieri Giovanni |
Modena - IT - |
BNDGNN75H27F257T |
21.124 .Eur |
21,55 |
|
Bandieri Giampaolo |
BNDGPL70E30F257Y |
21.124 .Eur |
21,55 |
|
|
Bandieri Gian Andrea |
BNDGND65M14F257Z |
21.124 .Eur |
21,55 |
|
|
Schomberg Maria Luisa |
SCHMLS37E56H501Y |
34.626 .Eur |
35,33 |
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 |
since 22/06/1990 |
|
Leonardo Sciascia |
, 110 |
- 41100 |
- Modena |
(MO) |
- IT - |
|
Total Surface: 250 Sq.mt. |
|
PHONE |
: 0593367080 |
|
FAX |
: 0593366118 |
|
Legal mail |
: TOP-PROFESSIONAL@PEC.CONFARTIGIANATO.IT |
|
- |
Branch |
(Warehouse) |
since 17/10/1995 |
|
Valdossola |
, 25/G-H |
- 40100 |
- Bologna |
(BO) |
- IT - |
|
PHONE |
: 051310585 |
|
Employees |
: 7 |
|
Fittings and Equipment for a value of 250.000 |
Eur |
|
Stocks for a value of 500.000 |
Eur |
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 |
|
MODENA (MO) |
Buildings |
4 |
31/01/2018 |
|
MODENA (MO) |
Land |
3 |
31/01/2018 |
|
Buildings Details |
|
Cadastre |
Title |
Location |
Sheet No. |
Particle No. |
Sub No. |
Categorie |
Classe |
Consistence |
Cadastrial Rent |
Part No. |
|
B |
Proprieta' per 1/1 |
MODENA (MO) STRADA SCAGLIA EST, 126 Piano T-S1 |
155 |
59 |
12 |
zona2 cat. C/1 |
8 |
174 mq |
Euro:3.253,06 |
|
|
B |
Proprieta' per 1/1 |
MODENA (MO) VIA GUIDO BACCELLI, 36 Piano S1 |
155 |
59 |
95 |
zona2 cat. C/6 |
5 |
25 mq |
Euro:121,37 |
1056081 |
|
B |
Proprieta' per 1000/1000 |
MODENA (MO) VIA PIER PAOLO PASOLINI, 110 Piano
T-1 |
59 |
894 |
1 |
zona3 cat. D/7 |
Euro: 14.962,00 |
|||
|
B |
Proprieta' per 1000/1000 |
MODENA (MO) VIA PIER PAOLO PASOLINI, 110 Piano
T-1 |
59 |
894 |
2 |
zona3 cat. A/2 |
1 |
4 vani |
Euro:371,85 |
|
Land Details |
|
Cadastre |
Title |
Location |
Sheet No. |
Particle No. |
Sub No. |
Category |
Class |
Consistence |
Cadastrial Rent |
Part No. |
|
L |
Proprieta' per 18685/100000 |
MODENA (MO) |
59 |
606 |
PRATO |
U |
5 are 22 ca |
R.D.Euro:2,97 R.A. Euro: 1,62 |
||
|
L |
Proprieta' per 18685/100000 |
MODENA (MO) |
59 |
783 |
SEMINATIVO |
2 |
34 are 67 ca |
R.D.Euro:32,23 R.A. Euro: 37,60 |
||
|
L |
Proprieta' per 18685/100000 |
MODENA (MO) |
66 |
294 |
REL ACQ ES |
92 ca |
R.D.Euro: R.A. Euro: |
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
1967.
The analysis is based on the latest 3 balance
sheets.
Last two financial years were marked by losses; in
2016 r.o.e. is -5,3%.
The operating result in 2016 was positive (2,46%)
and in line with the sector's average.
The amount of the operating result for the year
2016 is of Eur. 63.644 rising (+21,64%) in relation to the previous year.
The G.O.M. amounted to Eur. 101.305 , stable if
compared to the year before.
The financial status of the company is fairly
balanced with an indebtedness level of 3,09 yet on the increase as against the
previous accounting period.
It's shareholders funds amount to Eur. 472.812 ,
unchanged if compared to 2015.
Total indebtedness was equal to Eur. 1.973.227
(Eur. 504.517 was the value of m/l term debts) , with no sensible variation.
Liquid assets are not adequate to subject's needs.
2016 financial year closed with a cash flow of Eur.
12.597
In the last financial year labour cost was of Eur.
225.408, with a 16,67% incidence on total costs of production. , whereas 16,46%
is the incidence on sales revenues.
The incidence percentage of financial charges on
sales volume is equal to -4,55%.
Financial Data
|
Complete balance-sheet for the year |
al 31/12/2016 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
1.369.483 |
|
Profit (Loss) for the period |
-25.064 |
|
Complete balance-sheet for the year |
al 31/12/2015 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
1.202.875 |
|
Profit (Loss) for the period |
-24.617 |
|
Complete balance-sheet for the year |
al 31/12/2014 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
1.157.900 |
|
Profit (Loss) for the period |
-35.612 |
|
Complete balance-sheet for the year |
al 31/12/2013 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
1.248.872 |
|
Profit (Loss) for the period |
-25.163 |
|
Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
1.253.846 |
|
Profit (Loss) for the period |
-22.090 |
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 |
0,52 |
0,55 |
0,60 |
0,14 |
|
Elasticity Ratio |
Units |
0,48 |
0,45 |
0,40 |
0,84 |
|
Availability of stock |
Units |
0,19 |
0,19 |
0,18 |
0,24 |
|
Total Liquidity Ratio |
Units |
0,28 |
0,27 |
0,22 |
0,53 |
|
Quick Ratio |
Units |
0,00 |
0,00 |
0,01 |
0,03 |
|
COMPOSITION ON SOURCE |
|||||
|
Net Short-term indebtedness |
Units |
3,09 |
2,69 |
2,40 |
3,78 |
|
Self Financing Ratio |
Units |
0,18 |
0,20 |
0,20 |
0,17 |
|
Capital protection Ratio |
Units |
0,85 |
0,85 |
0,87 |
0,66 |
|
Liabilities consolidation quotient |
Units |
0,43 |
0,52 |
0,64 |
0,14 |
|
Financing |
Units |
4,17 |
3,86 |
3,81 |
4,55 |
|
Permanent Indebtedness Ratio |
Units |
0,43 |
0,47 |
0,51 |
0,33 |
|
M/L term Debts Ratio |
Units |
0,25 |
0,27 |
0,31 |
0,09 |
|
Net Financial Indebtedness Ratio |
Units |
n.c. |
n.c. |
n.c. |
1,26 |
|
CORRELATION |
|||||
|
Fixed assets ratio |
Units |
0,82 |
0,86 |
0,86 |
1,87 |
|
Current ratio |
Units |
0,84 |
0,86 |
0,83 |
1,17 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
0,50 |
0,51 |
0,46 |
0,79 |
|
Structure's primary quotient |
Units |
0,35 |
0,36 |
0,33 |
1,13 |
|
Treasury's primary quotient |
Units |
0,00 |
0,00 |
0,02 |
0,04 |
|
Rate of indebtedness ( Leverage ) |
% |
546,51 |
510,54 |
505,60 |
587,75 |
|
Current Capital ( net ) |
Value |
-235.590 |
-188.798 |
-201.537 |
209.248 |
|
RETURN |
|||||
|
Return on Sales |
% |
0,92 |
1,21 |
0,40 |
2,26 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
-5,30 |
-4,94 |
-7,54 |
3,48 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
0,28 |
-1,96 |
-3,74 |
12,19 |
|
Return on Investment ( R.O.I. ) |
% |
2,46 |
2,06 |
1,77 |
3,83 |
|
Return/ Sales |
% |
4,65 |
4,35 |
3,64 |
3,45 |
|
Extra Management revenues/charges incid. |
% |
-39,38 |
-47,05 |
-84,40 |
20,46 |
|
Cash Flow |
Value |
12.597 |
14.521 |
4.644 |
50.400 |
|
Operating Profit |
Value |
63.644 |
52.318 |
42.192 |
68.610 |
|
Gross Operating Margin |
Value |
101.305 |
91.456 |
82.448 |
124.742 |
|
MANAGEMENT |
|||||
|
Credits to clients average term |
Days |
n.c. |
n.c. |
n.c. |
120,68 |
|
Debts to suppliers average term |
Days |
n.c. |
n.c. |
n.c. |
115,81 |
|
Average stock waiting period |
Days |
131,52 |
141,32 |
134,37 |
78,40 |
|
Rate of capital employed return ( Turnover ) |
Units |
0,53 |
0,47 |
0,48 |
1,14 |
|
Rate of stock return |
Units |
2,74 |
2,55 |
2,68 |
4,57 |
|
Labour cost incidence |
% |
16,46 |
18,93 |
21,22 |
12,27 |
|
Net financial revenues/ charges incidence |
% |
-4,55 |
-4,63 |
-5,31 |
-1,84 |
|
Labour cost on purchasing expenses |
% |
16,67 |
19,09 |
20,83 |
12,16 |
|
Short-term financing charges |
% |
3,16 |
2,90 |
3,41 |
3,35 |
|
Capital on hand |
% |
188,68 |
211,32 |
206,31 |
87,41 |
|
Sales pro employee |
Value |
195.640 |
171.839 |
165.414 |
245.343 |
|
Labour cost pro employee |
Value |
32.201 |
32.530 |
35.101 |
32.046 |
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 |
: |
659.925 |
|
Population living in the region |
: |
4.151.369 |
|
Number of families in the region |
: |
1.748.359 |
Monthly family expences average in the region (in
Eur..) :
|
- per food products |
: |
425 |
|
- per non food products |
: |
2.063 |
|
- per energy consume |
: |
143 |
Sector Data
The values are calculated on a base of 864
significant companies.
The companies cash their credits on an average of
121 dd.
The average duration of suppliers debts is about
116 dd.
The sector's profitability is on an average of
2,26%.
The labour cost affects the turnover in the measure
of 12,27%.
Goods are held in stock in a range of 78 dd.
The difference between the sales volume and the
resources used to realize it is about 1,14.
The employees costs represent the 12,16% 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 18.860 protested subjects are found;
in the province they count to 3.557.
The insolvency index for the region is 0,46, ,
while for the province it is 0,55.
Total Bankrupt companies in the province : 2.526.
Total Bankrupt companies in the region : 14.698.
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
: |
NIY |
|
|
|
|
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.