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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

489622

Report Date :

08.02.2018

 

 

IDENTIFICATION DETAILS

 

Name :

G.B. RICAMBI S.P.A.

 

 

Registered Office :

Via Di Mezzo, 67/A Casette, 41015 – Nonantola (MO)

 

 

Country :

Italy

 

 

Financials (as on) :

31.12.2016

 

 

Date of Incorporation :

26.11.1998

 

 

Legal Form :

Joint Stock Company

 

 

Line of Business :

·         Wholesale of agricultural machinery, equipment and supplies

·         Wholesale of mining, construction and civil engineering machinery

·         Real estate activities

 

 

No. of Employees :

From 51 to 70

 

 

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January 2017)

 

MIRA’s Rating :

C

 

Credit Rating

 

Explanation

Rating Comments

C

Medium High Risk

Business dealings permissible preferably on secured basis

 

Status :

Debt Restructuring Agreement

 

 

Payment Behaviour :

Slow & Delayed

 

 

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

 

G.B. RICAMBI S.P.A.

Via Di Mezzo, 67/A Casette

41015 – Nonantola (MO) -IT-

 

 

Summary

 

Fiscal Code

:

01930221203

Legal Form

:

Joint Stock Company

start of Activities

:

02/12/2002

Equity

:

2.000.000

Turnover Range

:

15.500.000/18.000.000

Number of Employees

:

From 51 to 70

Firm's Status

:

Debt restructuring agreement

 

 

Highlights

 

The subject is active in the after market of spare parts for earthmoving,

 

industrial and agricultural equipment.

 

Due to an high level of indebtedness, the company was subject to a Debt restructuring

 

agreement issued by the Court of Modena on 23.11.2017.

 

We suggest to wait for further developments.



Activity

 

Wholesale of agricultural machinery, equipment and supplies

Wholesale of mining, construction and civil engineering machinery

Real estate activities



Legal Data

 

Legal Form : Joint stock company

Fiscal Code : 01930221203

 

Foreign Trade Reg. no. : MO038040 since 11/11/2002

 

Chamber of Commerce no. : 400117 of Bologna

 

Chamber of Commerce no. : 466333 of Bologna

 

Chamber of Commerce no. : 184089 of Macerata

 

Chamber of Commerce no. : 327915 of Modena since 22/11/2001

 

Firms' Register : BO-1999-7078 of Bologna

 

Firms' Register : MO-2001-50409 of Modena

 

V.A.T. Code : 02754390363

 

Establishment date

: 26/11/1998

Start of Activities

: 02/12/2002

Legal duration

: 31/12/2050

Nominal Capital

: 3.563.182

Subscribed Capital

: 3.563.182

Paid up Capital

: 3.563.182

 

Legal mail :

AMMINISTRAZIONE@PEC.GBRICAMBI.IT

 

 

Members

 

Borghi

Stefano

 

Born in Modena

(MO)

on 19/01/1962

- Fiscal Code : BRGSFN62A19F257S

 

Residence:

Della Pietra

, 67/5

- 41125

Modena

(MO)

- IT -

 

Position

Since

Shares Amount

% Ownership

Director

27/07/2016

Board Chairman

27/07/2016

 

No Prejudicial events are reported

 

No Protests registered

 

Saporita

Fabrizio

 

Born in Modena

(MO)

on 05/11/1970

- Fiscal Code : SPRFRZ70S05F257R

 

Residence:

Giuseppe Fava

, 49

- 41126

Modena

(MO)

- IT -

 

Position

Since

Shares Amount

% Ownership

Director

27/07/2016

Managing Director

30/08/2016

 

No Prejudicial events are reported

 

No Protests registered

 

Sagulo

Francesco

 

Born in Cetraro

(CS)

on 29/06/1973

- Fiscal Code : SGLFNC73H29C588V

 

Residence:

Chiletti

, 31/1

- 41030

San Prospero

(MO)

- IT -

 

Position

Since

Shares Amount

% Ownership

Responsible

31/12/2008

 

No Prejudicial events are reported

 

No Protests registered

 

Barozzi

Maria Pia

 

Born in Sassuolo

(MO)

on 23/03/1964

- Fiscal Code : BRZMRP64C63I462K

 

Residence:

Refice

, 26

- 41049

Sassuolo

(MO)

- IT -

 

Position

Since

Shares Amount

% Ownership

Director

27/07/2016

Managing Director

30/08/2016

 

No Prejudicial events are reported

 

No Protests registered

 

Gbr Group S.p.a.

 

 

:

Di Mezzo

, 67/A

- 41015

Nonantola

(MO)

- IT -

 

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 are listed the companies in which members hold or have holded positions.

 

Borghi

Stefano

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

G.b. Ricambi Societa' Per Azioni

Modena (MO) - IT -

01684410366

Managing Director

Withdrawn

Ceased

G.b. Ricambi Societa' Per Azioni

Modena (MO) - IT -

01684410366

Director

Withdrawn

Ceased

Officine Meccaniche Ghinassi S.p.a.

Ravenna (RA) - IT -

00527540397

Director

Withdrawn

Ceased

Officine Meccaniche Ghinassi S.p.a.

Ravenna (RA) - IT -

00527540397

Managing Director

Withdrawn

Ceased

Officine Meccaniche Ghinassi S.p.a.

Ravenna (RA) - IT -

00527540397

Board Chairman

Withdrawn

Ceased

C.f.t. - S.r.l.

Volpiano (TO) - IT -

05458320016

Sole Director

Withdrawn

Registered

C.f.t. - S.r.l.

Volpiano (TO) - IT -

05458320016

Director

Active

Registered

C.f.t. - S.r.l.

Volpiano (TO) - IT -

05458320016

Board Chairman

Active

Registered

Bfs Spare Parts Srl In Liquidazione

Nonantola (MO) - IT -

02054280363

Managing Director

Withdrawn

In liquidation

Bfs Spare Parts Srl In Liquidazione

Nonantola (MO) - IT -

02054280363

Director

Withdrawn

In liquidation

Bfs Spare Parts Srl In Liquidazione

Nonantola (MO) - IT -

02054280363

Liquidator

Active

In liquidation

Bfs Spare Parts Srl In Liquidazione

Nonantola (MO) - IT -

02054280363

Sole partner

-

In liquidation

Bfs Spare Parts Srl In Liquidazione

Nonantola (MO) - IT -

02054280363

Board Chairman

Withdrawn

In liquidation

Mauri S.r.l.

Modena (MO) - IT -

02060760366

Director

Withdrawn

Ceased

G.b. Servizi E Finanza S.r.l.

Modena (MO) - IT -

02591130360

Director

Withdrawn

Ceased

G.b. Servizi E Finanza S.r.l.

Modena (MO) - IT -

02591130360

Board Chairman

Withdrawn

Ceased

C.g.r. Cornelio Ghinassi Ricambi S.p.a.

Nonantola (MO) - IT -

02010220396

Vice-Chairman

Withdrawn

Debt restructuring agreement

C.g.r. Cornelio Ghinassi Ricambi S.p.a.

Nonantola (MO) - IT -

02010220396

Managing Director

Withdrawn

Debt restructuring agreement

C.g.r. Cornelio Ghinassi Ricambi S.p.a.

Nonantola (MO) - IT -

02010220396

Director

Withdrawn

Debt restructuring agreement

C.g.r. Cornelio Ghinassi Ricambi S.p.a.

Nonantola (MO) - IT -

02010220396

Assistant board Chairman

Withdrawn

Debt restructuring agreement

C.g.r. Cornelio Ghinassi Ricambi S.p.a.

Nonantola (MO) - IT -

02010220396

Managing Director

Withdrawn

Debt restructuring agreement

C.g.r. Cornelio Ghinassi Ricambi S.p.a.

Nonantola (MO) - IT -

02010220396

Board Chairman

Withdrawn

Debt restructuring agreement

Gb Miami Srl

Nonantola (MO) - IT -

02988880361

Managing Director

Withdrawn

Registered

Gb Miami Srl

Nonantola (MO) - IT -

02988880361

Director

Withdrawn

Registered

Gb Miami Srl

Nonantola (MO) - IT -

02988880361

Sole Director

Withdrawn

Registered

Gb Miami Srl

Nonantola (MO) - IT -

02988880361

Assistant board Chairman

Withdrawn

Registered

G.b. Logistic S.p.a.

Nonantola (MO) - IT -

03028180366

Managing Director

Withdrawn

Registered

G.b. Logistic S.p.a.

Nonantola (MO) - IT -

03028180366

Director

Withdrawn

Registered

G.b. Logistic S.p.a.

Nonantola (MO) - IT -

03028180366

Sole Director

Withdrawn

Registered

Borghi Re S.r.l. - In Liquidazione -

Nonantola (MO) - IT -

03028170367

Director

Withdrawn

Registered

Borghi Re S.r.l. - In Liquidazione -

Nonantola (MO) - IT -

03028170367

Sole Director

Withdrawn

Registered

Borghi Re S.r.l. - In Liquidazione -

Nonantola (MO) - IT -

03028170367

Sole partner

Active

Registered

G.b. London S.p.a.

Nonantola (MO) - IT -

03088300367

Managing Director

Withdrawn

Registered

G.b. London S.p.a.

Nonantola (MO) - IT -

03088300367

Director

Withdrawn

Registered

G.b. London S.p.a.

Nonantola (MO) - IT -

03088300367

Sole Director

Withdrawn

Registered

G.b. London S.p.a.

Nonantola (MO) - IT -

03088300367

Assistant board Chairman

Withdrawn

Registered

G.b. South Africa S.p.a.

Nonantola (MO) - IT -

03131600367

Managing Director

Withdrawn

Registered

G.b. South Africa S.p.a.

Nonantola (MO) - IT -

03131600367

Director

Withdrawn

Registered

G.b. South Africa S.p.a.

Nonantola (MO) - IT -

03131600367

Managing Director

Withdrawn

Registered

G.b. South Africa S.p.a.

Nonantola (MO) - IT -

03131600367

Board Chairman

Withdrawn

Registered

G.b. Belgium S.p.a. In Liquidazione

Nonantola (MO) - IT -

03214320362

Managing Director

Withdrawn

Registered

G.b. Belgium S.p.a. In Liquidazione

Nonantola (MO) - IT -

03214320362

Director

Withdrawn

Registered

G.b. Belgium S.p.a. In Liquidazione

Nonantola (MO) - IT -

03214320362

Assistant board Chairman

Withdrawn

Registered

Fin-mo Societa' A Responsabilita' Limitata

Modena (MO) - IT -

01950220366

Liquidator

Withdrawn

Ceased

G.b. International S.p.a.

Nonantola (MO) - IT -

02882720366

Managing Director

Withdrawn

Registered

G.b. International S.p.a.

Nonantola (MO) - IT -

02882720366

Director

Active

Registered

G.b. International S.p.a.

Nonantola (MO) - IT -

02882720366

Sole Director

Withdrawn

Registered

G.b. International S.p.a.

Nonantola (MO) - IT -

02882720366

Board Chairman

Active

Registered

Gb Holding S.p.a. In Liquidazione

Nonantola (MO) - IT -

02949560367

Managing Director

Withdrawn

Registered

Gb Holding S.p.a. In Liquidazione

Nonantola (MO) - IT -

02949560367

Director

Withdrawn

Registered

Gb Holding S.p.a. In Liquidazione

Nonantola (MO) - IT -

02949560367

Liquidator

Active

Registered

I.r.m. S.r.l.

Modena (MO) - IT -

02267611206

Sole Director

Withdrawn

Registered

Cervetti Ricambi S.p.a.

Nonantola (MO) - IT -

02247651207

Managing Director

Withdrawn

Registered

Cervetti Ricambi S.p.a.

Nonantola (MO) - IT -

02247651207

Director

Withdrawn

Registered

Cervetti Ricambi S.p.a.

Nonantola (MO) - IT -

02247651207

Sole Director

Withdrawn

Registered

Cervetti Ricambi S.p.a.

Nonantola (MO) - IT -

02247651207

Board Chairman

Withdrawn

Registered

Gbr Group S.p.a.

Nonantola (MO) - IT -

03742800364

Director

Active

Registered

Gbr Group S.p.a.

Nonantola (MO) - IT -

03742800364

Assistant board Chairman

Active

Registered

 

Saporita

Fabrizio

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

C.f.t. - S.r.l.

Volpiano (TO) - IT -

05458320016

Director

Active

Registered

C.g.r. Cornelio Ghinassi Ricambi S.p.a.

Nonantola (MO) - IT -

02010220396

Managing Director

Withdrawn

Debt restructuring agreement

C.g.r. Cornelio Ghinassi Ricambi S.p.a.

Nonantola (MO) - IT -

02010220396

Director

Withdrawn

Debt restructuring agreement

Gb Miami Srl

Nonantola (MO) - IT -

02988880361

Managing Director

Withdrawn

Registered

Gb Miami Srl

Nonantola (MO) - IT -

02988880361

Director

Withdrawn

Registered

G.b. Logistic S.p.a.

Nonantola (MO) - IT -

03028180366

Managing Director

Withdrawn

Registered

G.b. Logistic S.p.a.

Nonantola (MO) - IT -

03028180366

Director

Withdrawn

Registered

G.b. London S.p.a.

Nonantola (MO) - IT -

03088300367

Managing Director

Withdrawn

Registered

G.b. London S.p.a.

Nonantola (MO) - IT -

03088300367

Director

Withdrawn

Registered

G.b. South Africa S.p.a.

Nonantola (MO) - IT -

03131600367

Managing Director

Withdrawn

Registered

G.b. South Africa S.p.a.

Nonantola (MO) - IT -

03131600367

Director

Withdrawn

Registered

G.b. Belgium S.p.a. In Liquidazione

Nonantola (MO) - IT -

03214320362

Liquidator

Active

Registered

G.b. International S.p.a.

Nonantola (MO) - IT -

02882720366

Managing Director

Active

Registered

G.b. International S.p.a.

Nonantola (MO) - IT -

02882720366

Director

Active

Registered

Gb Holding S.p.a. In Liquidazione

Nonantola (MO) - IT -

02949560367

Liquidator

Active

Registered

I.r.m. S.r.l.

Modena (MO) - IT -

02267611206

Sole Director

Withdrawn

Registered

Cervetti Ricambi S.p.a.

Nonantola (MO) - IT -

02247651207

Managing Director

Withdrawn

Registered

Cervetti Ricambi S.p.a.

Nonantola (MO) - IT -

02247651207

Director

Withdrawn

Registered

Gbr Group S.p.a.

Nonantola (MO) - IT -

03742800364

Director

Active

Registered

 

Barozzi

Maria Pia

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

C.g.r. Cornelio Ghinassi Ricambi S.p.a.

Nonantola (MO) - IT -

02010220396

Director

Withdrawn

Debt restructuring agreement

C.g.r. Cornelio Ghinassi Ricambi S.p.a.

Nonantola (MO) - IT -

02010220396

Board Chairman

Withdrawn

Debt restructuring agreement

Gb Miami Srl

Nonantola (MO) - IT -

02988880361

Managing Director

Withdrawn

Registered

Gb Miami Srl

Nonantola (MO) - IT -

02988880361

Director

Withdrawn

Registered

Gb Miami Srl

Nonantola (MO) - IT -

02988880361

Board Chairman

Withdrawn

Registered

G.b. Logistic S.p.a.

Nonantola (MO) - IT -

03028180366

Managing Director

Withdrawn

Registered

G.b. Logistic S.p.a.

Nonantola (MO) - IT -

03028180366

Director

Withdrawn

Registered

G.b. Logistic S.p.a.

Nonantola (MO) - IT -

03028180366

Board Chairman

Withdrawn

Registered

G.b. London S.p.a.

Nonantola (MO) - IT -

03088300367

Managing Director

Withdrawn

Registered

G.b. London S.p.a.

Nonantola (MO) - IT -

03088300367

Director

Withdrawn

Registered

G.b. London S.p.a.

Nonantola (MO) - IT -

03088300367

Board Chairman

Withdrawn

Registered

G.b. South Africa S.p.a.

Nonantola (MO) - IT -

03131600367

Managing Director

Withdrawn

Registered

G.b. South Africa S.p.a.

Nonantola (MO) - IT -

03131600367

Director

Withdrawn

Registered

G.b. International S.p.a.

Nonantola (MO) - IT -

02882720366

Managing Director

Active

Registered

G.b. International S.p.a.

Nonantola (MO) - IT -

02882720366

Director

Active

Registered

Gb Holding S.p.a. In Liquidazione

Nonantola (MO) - IT -

02949560367

Liquidator

Active

Registered

Cervetti Ricambi S.p.a.

Nonantola (MO) - IT -

02247651207

Managing Director

Withdrawn

Registered

Cervetti Ricambi S.p.a.

Nonantola (MO) - IT -

02247651207

Director

Withdrawn

Registered

Gbr Group S.p.a.

Nonantola (MO) - IT -

03742800364

Director

Active

Registered

Gbr Group S.p.a.

Nonantola (MO) - IT -

03742800364

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

G.b. Ricambi S.p.a.

Nonantola - IT -

01930221203

103.757 .Eur

2,91

Barozzi Maria Pia

Sassuolo - IT -

BRZMRP64C63I462K

12 .Eur

Borghi Sergio

BRGSRG01R06Z154Y

12 .Eur

Gbr Group S.p.a.

Nonantola - IT -

03742800364

3.459.400 .Eur

97,08



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

G.b. Ricambi S.p.a.

Nonantola - IT -

01930221203

103.757 .Eur

2,91

Active

G.b. International S.p.a.

Nonantola - IT -

02882720366

998.277 .Eur

12,47

Active

C.f.t. - S.r.l.

Volpiano - IT -

05458320016

10.000 .Eur

100,00

Active

C.u.ra. Consorzio Utilities Ravenna Soci eta' Consortile A Responsabilita' Limita

Ravenna - IT -

02019950399

374 .Eur

0,99

Active



Firm's location and structure

 

In order to carry out its activities the firm uses the following locations:

 

-

Legal and operative seat

 

Di Mezzo

, 67/A

- 41015

- Nonantola

(MO)

- IT -

 

PHONE

: 059583111

 

FAX

: 059281364

 

Legal mail

: AMMINISTRAZIONE@PEC.GBRICAMBI.IT

 

-

Branch

(Shop)

since 26/03/2015

 

Cluentina

, 13/F

- 62100

- Macerata

(MC)

- IT -

 

Total Surface: 220 Sq.mt.

 

Employees

: 52

 

Fittings and Equipment for a value of 2.150.000

Eur

 

Stocks for a value of 10.680.000

Eur

 

 

Historical Information and/or Firm's Status

 

CEASINGS/INCORPORATIONS/MERGES:

 

Project of merging by taking over of

 

G.b. Ricambi Societa' Per Azioni

 

Dell'industria

, 33

, 41100

, Modena

(MO)

- IT -

 

Fiscal Code: 01684410366

 

Date

Merging/splitting-up project:

27/05/2002

 

The firm absorbed by merging of

 

G.b. Ricambi Societa' Per Azioni

 

Dell'industria

, 33

, 41100

, Modena

(MO)

- IT -

 

Fiscal Code: 01684410366

 

Date

:

20/11/2002

 

Project of merging by taking over of

 

Gb Miami Srl

 

Di Mezzo

, 67/A

, 41015

, Nonantola

(MO)

- IT -

 

Fiscal Code: 02988880361

 

Date

Merging/splitting-up project:

03/10/2017

 

The firm absorbed by merging of

 

C.g.r. Cornelio Ghinassi Ricambi S.p.a.

 

Di Mezzo

, 67/A

, 41015

, Nonantola

(MO)

- IT -

 

Fiscal Code: 02010220396

 

Date

:

20/12/2017

 

The firm absorbed by merging of

 

Cervetti Ricambi S.p.a.

 

Di Mezzo

, 67/A

, 41015

, Nonantola

(MO)

- IT -

 

Fiscal Code: 02247651207

 

Date

:

20/12/2017

 

The firm absorbed by merging of

 

G.b. Logistic S.p.a.

 

Di Mezzo

, 67/A

, 41015

, Nonantola

(MO)

- IT -

 

Fiscal Code: 03028180366

 

Date

:

20/12/2017

 

The firm absorbed by merging of

 

Gb Miami Srl

 

Di Mezzo

, 67/A

, 41015

, Nonantola

(MO)

- IT -

 

Fiscal Code: 02988880361

 

Date

:

20/12/2017

 

The firm absorbed by merging of

 

G.b. London S.p.a.

 

Di Mezzo

, 67/A

, 41015

, Nonantola

(MO)

- IT -

 

Fiscal Code: 03088300367

 

Date

:

20/12/2017

 

The firm absorbed by merging of

 

G.b. South Africa S.p.a.

 

Di Mezzo

, 67/A

, 41015

, Nonantola

(MO)

- IT -

 

Fiscal Code: 03131600367

 

Date

:

20/12/2017




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

 

  

Communications linked to procedures

 

-

 

- Debt restructuring agreement

 

 

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

 

Company's starting of activities dates back to 2002.

Balance sheets for the years 2014, 2015 and 2016 were analyzed.

Under the financial profile unstable results are noted. with a loss in the last financial year.

The operating result in 2016 was positive (1,65%) and in line with the sector's average.

The amount of the operating result for the year 2016 is of Eur. 853.748 with a -25,28% drop.

A gross operating margine for a value of Eur. 2.024.986 was reached. ,with no change if compared to the year before.

Net worth does not allow a regular management, short-term debts volume is considerably high, with an high indebtedness volume on the whole (31,05) which tends upward.

It's shareholders funds amount to Eur. 1.533.604 with a -39,57% fall.

Total indebtedness was equal to Eur. 49.772.573 (Eur. 997.043 was the value of m/l term debts) on the same levels as the year before.

Debt/equity ratio is high and the recourse to commercial borrowings is substantial even in comparison with the sector's.

Even liquidity is rather modest.

Trade credits average terms are 66,03 days. , shorter than the sector's average.

As far as the cash flow is concerned during the latest financial year it amounted to Eur. 272.292

Labour cost amounts to Eur. 2.471.485, with a 14,56% incidence on production costs. , whereas the incidence on sales revenues is of 13,89%.

The incidence percentage of financial charges on sales volume is equal to -2,74%.

 

 

Financial Data

 

Complete balance-sheet for the year

al 31/12/2016

(in Eur

x 1)

 

Item Type

Value

Sales

17.796.470

Profit (Loss) for the period

-743.946

 

Complete balance-sheet for the year

al 31/12/2015

(in Eur

x 1)

 

Item Type

Value

Sales

17.367.188

Profit (Loss) for the period

100.720

 

Complete balance-sheet for the year

al 31/12/2014

(in Eur

x 1)

 

Item Type

Value

Sales

16.863.619

Profit (Loss) for the period

-96.966

 

Complete balance-sheet for the year

al 31/12/2013

(in Eur

x 1)

 

Item Type

Value

Sales

15.436.122

Profit (Loss) for the period

-1.290.265

 

Complete balance-sheet for the year

al 31/12/2012

(in Eur

x 1)

 

Item Type

Value

Sales

15.421.372

Profit (Loss) for the period

1.319.296




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

 

Years

2016

2015

2014

BALANCE SHEET ACCOUNTS

 

ASSETS

CREDITS VS PARTNERS

. Deposits not yet withdrawn

. Deposits already withdrawn

Total credits vs partners

FIXED ASSETS

. INTANGIBLE FIXED ASSETS

. . Start-up and expansion expenses

. . Research,develop. and advert.expens.

. . Industrial patent rights

19.668

31.603

22.400

. . Concessions,licenses,trademarks,etc.

58.547

56.082

49.016

. . Goodwill

252.778

272.222

291.667

. . Assets in formation and advance paymen.

. . Other intangible fixed assets

927

1.158

357

. Total Intangible Fixed Assets

331.920

361.065

363.440

. TANGIBLE FIXED ASSETS

. . Real estate

4.631

5.249

5.866

. . Plant and machinery

1.345.299

1.560.702

1.791.041

. . Industrial and commercial equipment

805.682

724.180

638.469

. . Other assets

220.798

187.476

334.995

. . Assets under construction and advances

13.937

17.544

. Total Tangible fixed assets

2.390.347

2.495.151

2.770.371

. FINANCIAL FIXED ASSETS

. . Equity investments

20.258.910

20.364.360

20.464.779

. . . Equity invest. in subsidiary companies

20.258.897

20.364.347

20.464.766

. . . Equity invest. in associated companies

. . . Equity invest. in holding companies

. . . Equity invest. in other companies

13

13

13

. . Financial receivables

2.403.564

2.408.729

2.674.717

. . . . Within 12 months

. . . . Beyond 12 months

2.403.564

2.408.729

2.674.717

. . . Receivab due from subsidiaries

1.387.500

1.387.500

1.641.301

. . . . Within 12 months

. . . . Beyond 12 months

1.387.500

1.387.500

1.641.301

. . . Receivables due from assoc.comp.

. . . . Within 12 months

. . . . Beyond 12 months

. . . Receivables due from holding comp.

. . . . Within 12 months

. . . . Beyond 12 months

. . . Receivables due from third parties

1.016.064

1.021.229

1.033.416

. . . . Within 12 months

. . . . Beyond 12 months

1.016.064

1.021.229

1.033.416

. . Other securities

. . Own shares

260.363

260.363

. . . Total nominal value

. Total financial fixed assets

22.662.474

23.033.452

23.399.859

Total fixed assets

25.384.741

25.889.668

26.533.670

CURRENT ASSETS

. INVENTORIES

. . Raw materials and other consumables

172.782

134.032

140.230

. . Work in progress and semimanufactured

165.617

217.443

176.159

. . Work in progress on order

. . Finished goods

10.338.222

10.431.953

10.203.491

. . Advance payments

. Total Inventories

10.676.621

10.783.428

10.519.880

. CREDITS NOT HELD AS FIXED ASSETS

. . Within 12 months

13.685.762

16.037.497

15.258.096

. . Beyond 12 months

621.826

368.670

240.297

. . Trade receivables

3.264.067

4.695.559

5.060.696

. . . . Within 12 months

3.264.067

4.695.559

5.060.696

. . . . Beyond 12 months

. . Receivables due from subsid. comp.

10.522.977

8.128.189

6.792.359

. . . . Within 12 months

9.901.482

7.759.850

6.552.393

. . . . Beyond 12 months

621.495

368.339

239.966

. . Receivables due from assoc. comp.

. . . . Within 12 months

. . . . Beyond 12 months

. . Receivables due from holding comp.

. . . . Within 12 months

. . . . Beyond 12 months

. . Fiscal Receivables

286.775

257.665

166.503

. . . . Within 12 months

286.775

257.665

166.503

. . . . Beyond 12 months

. . Receivables for anticipated taxes

66.159

3.298.779

3.457.452

. . . . Within 12 months

66.159

3.298.779

3.457.452

. . . . Beyond 12 months

. . Receivables due from third parties

167.610

25.975

21.383

. . . . Within 12 months

167.279

25.644

21.052

. . . . Beyond 12 months

331

331

331

. Total Credits not held as fixed assets

14.307.588

16.406.167

15.498.393

. FINANCIAL ASSETS

. . Equity invest. in subsidiary comp.

. . Equity invest. in associated companies

. . Equity invest. in holding companies

. . Other equity investments

. . Own shares

. . . Total nominale value

. . Other securities

. Total Financial Assets

. LIQUID FUNDS

. . Bank and post office deposits

1.149.465

901.806

506.169

. . Checks

. . Banknotes and coins

11.830

4.941

3.894

. Total Liquid funds

1.161.295

906.747

510.063

Total current assets

26.145.504

28.096.342

26.528.336

ADJUSTMENT ACCOUNTS

. Discount on loans

35.133

22.322

. Other adjustment accounts

109.655

Total adjustments accounts

109.655

35.133

22.322

TOTAL ASSETS

51.639.900

54.021.143

53.084.328

LIABILITIES

STOCKHOLDERS' EQUITY

. Capital stock

3.563.182

3.563.182

3.563.182

. Additional paid-in capital

. Revaluation reserves

. Legal reserve

5.913

877

877

. Reserve for Own shares

260.363

260.363

. Statute reserves

. Other reserves

356.049

. Accumulated Profits (Losses)

-1.647.594

-1.387.231

-1.290.265

. Profit( loss) of the year

-743.946

100.720

-96.966

. Advances on dividends

. Partial loss of the year Coverage

Total Stockholders'Equity

1.533.604

2.537.911

2.437.191

RESERVES FOR RISKS AND CHARGES

. . Reserve for employee termination indem.

. . Taxation fund, also differed

83.000

83.000

184.812

. . Other funds

155.000

12.915

Total Reserves for Risks and Charges

238.000

83.000

197.727

Employee termination indemnities

90.304

108.075

120.881

ACCOUNTS PAYABLE

. . . . Within 12 months

48.775.530

49.566.057

48.524.222

. . . . Beyond 12 months

997.043

1.696.061

1.771.734

. . Bonds

3.615.000

3.615.000

3.615.000

. . . . Within 12 months

3.615.000

3.615.000

3.615.000

. . . . Beyond 12 months

. . Convertible bonds repayable

. . . . Within 12 months

. . . . Beyond 12 months

. . Due to shareholders for financing

2.369.744

2.450.000

2.450.000

. . . . Within 12 months

2.369.744

2.450.000

2.450.000

. . . . Beyond 12 months

. . Due to banks

27.061.261

26.235.386

26.000.232

. . . . Within 12 months

27.061.261

26.235.386

26.000.232

. . . . Beyond 12 months

. . Due to other providers of finance

. . . . Within 12 months

. . . . Beyond 12 months

. . Advances from customers

. . . . Within 12 months

. . . . Beyond 12 months

. . Trade payables

2.204.689

3.579.944

3.617.714

. . . . Within 12 months

2.204.689

3.579.944

3.617.714

. . . . Beyond 12 months

. . Securities issued

. . . . Within 12 months

. . . . Beyond 12 months

. . Due to subsidiary companies

13.299.682

14.022.841

13.362.122

. . . . Within 12 months

12.316.348

12.383.070

11.590.388

. . . . Beyond 12 months

983.334

1.639.771

1.771.734

. . Due to associated companies

. . . . Within 12 months

. . . . Beyond 12 months

. . Due to holding companies

52.253

133.236

170.143

. . . . Within 12 months

52.253

133.236

170.143

. . . . Beyond 12 months

. . Due to the tax authorities

92.048

147.778

44.179

. . . . Within 12 months

78.339

91.488

44.179

. . . . Beyond 12 months

13.709

56.290

. . Due to social security and welfare inst.

98.556

139.738

57.723

. . . . Within 12 months

98.556

139.738

57.723

. . . . Beyond 12 months

. . Other payables

979.340

938.195

978.843

. . . . Within 12 months

979.340

938.195

978.843

. . . . Beyond 12 months

Total accounts payable

49.772.573

51.262.118

50.295.956

ADJUSTMENT ACCOUNTS

. Agio on loans

. Other adjustment accounts

5.419

30.039

32.573

Total adjustment accounts

5.419

30.039

32.573

TOTAL LIABILITIES

51.639.900

54.021.143

53.084.328

 

 

 

 

 

MEMORANDUM ACCOUNTS

 

Third party goods

Investment accounts

5.649

26.409

Risk accounts

64.464.888

64.464.888

Civil and fiscal norms relation

 

 

 

 

 

PROFIT AND LOSS ACCOUNTS

 

VALUE OF PRODUCTION

. Revenues from sales and services

17.796.470

17.367.188

16.863.619

. Changes in work in progress

-88.847

-12.444

-178.371

. Changes in semi-manufact. products

. Capitalization of internal work

. Other income and revenues

124.999

88.540

148.251

. . Contributions for operating expenses

. . Different income and revenues

124.999

88.540

148.251

Total value of production

17.832.622

17.443.284

16.833.499

PRODUCTION COSTS

. Raw material,other materials and consum.

7.795.805

8.012.891

8.270.295

. Services received

4.858.949

4.813.475

5.406.003

. Leases and rentals

55.198

64.908

114.187

. Payroll and related costs

2.471.485

2.666.409

2.425.063

. . Wages and salaries

1.759.794

1.870.250

1.665.669

. . Social security contributions

555.572

636.995

601.229

. . Employee termination indemnities

98.437

102.093

90.136

. . Pension and similar

. . Other costs

57.682

57.071

68.029

. Amortization and depreciation

1.016.238

974.829

1.008.957

. . Amortization of intangible fixed assets

56.324

59.500

112.839

. . Amortization of tangible fixed assets

869.347

864.205

749.253

. . Depreciation of tangible fixed assets

. . Writedown of current receiv.and of liquid

90.567

51.124

146.865

. Changes in raw materials

17.960

-275.992

-821.097

. Provisions to risk reserves

. Other provisions

155.000

. Other operating costs

608.239

44.155

42.505

Total production costs

16.978.874

16.300.675

16.445.913

Diff. between value and cost of product.

853.748

1.142.609

387.586

FINANCIAL INCOME AND EXPENSE

. Income from equity investments

. . In subsidiary companies

. . In associated companies

. . In other companies

. Other financial income

108.237

94.877

91.778

. . Financ.income from receivables

. . . Towards subsidiary companies

. . . Towards associated companies

. . . Towards holding companies

. . . Towards other companies

. . Financ.income from secur. t.f.assets

75.150

74.945

. . Financ.income from secur. cur.assets

907

. . Financ.income other than the above

33.087

19.932

90.871

. . . - Subsidiary companies

12.483

10.995

12.039

. . . - Associated companies

. . . - Holding companies

. . . - Other companies

20.604

8.937

78.832

. Interest and other financial expense

-595.633

-601.172

-769.850

. . Towards subsidiary companies

. . Towards associated companies

. . Towards holding companies

. . Towards other companies

Total financial income and expense

-487.396

-506.295

-678.072

ADJUSTMENTS TO FINANCIAL ASSETS

. Revaluations

27.581

130.385

. . Of equity investments

27.581

130.385

. . Of financ.fixed assets not repres.E.I.

. . Of securities incl.among current assets

. Devaluation

-105.450

-127.999

-124.696

. . Of equity investments

-105.450

-127.999

-124.696

. . Of financial fixed assets (no equity inv)

. . Of securities included among current ass

Total adjustments to financial assets

-105.450

-100.418

5.689

EXTRAORDINARY INCOME AND EXPENSE

. Extraordinary income

95.021

150.444

. . Gains on disposals

. . Other extraordinary income

95.021

150.444

. Extraordinary expense

-451.043

-345.151

. . Losses on disposals

. . Taxes relating to prior years

. . Other extraordinary expense

-451.043

-345.151

Total extraordinary income and expense

-356.022

-194.707

Results before income taxes

260.902

179.874

-479.504

. Taxes on current income

1.004.848

79.154

-382.538

. . current taxes

91.274

77.517

42.688

. . differed taxes(anticip.)

1.637

-425.226

. Net income for the period

-743.946

100.720

-96.966

. Adjustments in tax regulations pursuance

. Provisions in tax regulations pursuance

. Profit (loss) of the year

-743.946

100.720

-96.966

 

 

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

0,49

0,48

0,50

0,10

Elasticity Ratio

Units

0,51

0,52

0,50

0,87

Availability of stock

Units

0,21

0,20

0,20

0,21

Total Liquidity Ratio

Units

0,30

0,32

0,30

0,61

Quick Ratio

Units

0,02

0,02

0,01

0,03

COMPOSITION ON SOURCE

Net Short-term indebtedness

Units

31,05

19,17

19,70

4,04

Self Financing Ratio

Units

0,03

0,05

0,05

0,16

Capital protection Ratio

Units

-0,84

-0,44

-0,42

0,59

Liabilities consolidation quotient

Units

0,02

0,04

0,04

0,11

Financing

Units

32,45

20,20

20,64

4,85

Permanent Indebtedness Ratio

Units

0,05

0,08

0,08

0,26

M/L term Debts Ratio

Units

0,02

0,03

0,04

0,07

Net Financial Indebtedness Ratio

Units

20,79

12,37

12,95

1,01

CORRELATION

Fixed assets ratio

Units

0,10

0,17

0,16

2,12

Current ratio

Units

0,54

0,57

0,55

1,16

Acid Test Ratio-Liquidity Ratio

Units

0,32

0,35

0,33

0,88

Structure's primary quotient

Units

0,06

0,10

0,09

1,40

Treasury's primary quotient

Units

0,02

0,02

0,01

0,04

Rate of indebtedness ( Leverage )

%

3367,23

2128,57

2178,09

620,22

Current Capital ( net )

Value

-22.630.026

-21.469.715

-21.995.886

131.414

RETURN

Return on Sales

%

1,53

6,19

5,41

2,27

Return on Equity - Net- ( R.O.E. )

%

-48,51

3,97

-3,98

6,70

Return on Equity - Gross - ( R.O.E. )

%

17,01

7,09

-19,67

18,85

Return on Investment ( R.O.I. )

%

1,65

2,12

0,73

4,76

Return/ Sales

%

4,80

6,58

2,30

3,70

Extra Management revenues/charges incid.

%

-87,14

8,81

-25,02

28,15

Cash Flow

Value

272.292

1.075.549

911.991

39.655

Operating Profit

Value

853.748

1.142.609

387.586

63.123

Gross Operating Margin

Value

2.024.986

2.117.438

1.396.543

99.042

MANAGEMENT

Credits to clients average term

Days

66,03

97,33

108,03

119,16

Debts to suppliers average term

Days

440,63

495,29

447,70

116,83

Average stock waiting period

Days

215,97

223,53

224,58

58,39

Rate of capital employed return ( Turnover )

Units

0,34

0,32

0,32

1,36

Rate of stock return

Units

1,67

1,61

1,60

6,14

Labour cost incidence

%

13,89

15,35

14,38

8,98

Net financial revenues/ charges incidence

%

-2,74

-2,92

-4,02

-1,08

Labour cost on purchasing expenses

%

14,56

16,36

14,75

8,98

Short-term financing charges

%

1,20

1,17

1,53

2,60

Capital on hand

%

290,17

311,05

314,79

73,17

Sales pro employee

Value

231.122

209.243

224.848

394.001

Labour cost pro employee

Value

32.097

32.125

32.334

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

:

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 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

 

Statistically the trade activity shows periods of crisis.

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 64.14

UK Pound

1

INR 89.50

Euro

1

INR 79.43

Euro

1

INR 79.37

 

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)

 

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.