MIRA INFORM REPORT

 

 

Report No. :

491447

Report Date :

09.02.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

HIDE S.P.A

 

 

Registered Office :

Via Piave, 11/13, 35010  - Curtarolo(PD)  -IT

 

 

Country :

Italy

 

 

Financials (as on) :

31.12.2016

 

 

Date of Incorporation :

28.03.1985

 

 

Legal Form :

Joint stock company

 

 

Line of Business :

Preparation and tanning of leather; dressing and dyeing of fur

 

 

No. of Employees :

From 26 to 35

 

 

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 :

Good

 

 

Payment Behaviour :

Regular

 

 

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

 

Hide S.p.a.

 

Via

Piave,

11/13

 

35010

- Curtarolo

(PD)

-IT-

 

 

Summary

 

Fiscal Code

:

01970080287

Legal Form

:

Joint stock company

start of Activities

:

28/03/1985

Equity

:

Over 2.582.254

Turnover Range

:

50.000.000/75.000.000

Number of Employees

:

from 26 to 35

 

 

Activity

 

Preparation and tanning of leather; dressing and dyeing of fur

 

 

Legal Data

 

Legal Form : Joint stock company

Fiscal Code : 01970080287

 

Foreign Trade Reg. no. : 15311 of Padova since 09/01/1992

 

Foreign Trade Reg. no. : 015311 of Padova since 09/01/1992

 

Chamber of Commerce no. : 283786 of Cuneo

 

Chamber of Commerce no. : 193212 of Padova since 28/05/1985

 

Firms' Register : PD060-23776 of Padova since 19/02/1996

 

V.A.T. Code : 01970080287

 

Tribunal Co. Register : 23776 of

 

Foundation date

: 28/03/1985

Establishment date

: 28/03/1985

Start of Activities

: 28/03/1985

Legal duration

: 31/12/2030

Nominal Capital

: 3.000.000

Subscribed Capital

: 3.000.000

Paid up Capital

: 3.000.000

 

Legal mail :

AMMINISTRAZIONE@PEC.HIDE.IT

 

Members

 

Stocco

Ivano

 

Born in San Martino di Lupari

(PD)

on 13/07/1959

- Fiscal Code : STCVNI59L13I008R

 

Residence:

Antonelli

, 30

- 35018

San Martino di Lupari

(PD)

- IT -

 

Position

Since

Shares Amount

% Ownership

Board Chairman

02/05/2016

Director

02/05/2016

 

No Prejudicial events are reported

 

No Protests registered

 

Zanchin

Claudio

 

Born in Villa del Conte

(PD)

on 19/12/1955

- Fiscal Code : ZNCCLD55T19L934S

 

Residence:

Xxix Aprile

, 2

- 35010

Villa del Conte

(PD)

- IT -

 

Position

Since

Shares Amount

% Ownership

Director

02/05/2016

Managing Director

02/05/2016

 

No Prejudicial events are reported

 

No Protests registered

 

Zanchin

Francesco

 

Born in Villa del Conte

(PD)

on 17/12/1950

- Fiscal Code : ZNCFNC50T17L934B

 

Residence:

Militare

, 7

- 35010

Villa del Conte

(PD)

- IT -

 

Position

Since

Shares Amount

% Ownership

Director

02/05/2016

Managing Director

02/05/2016

 

No Prejudicial events are reported

 

No Protests registered

 

Auriemma

Pasqualino

 

Born in Scisciano

(NA)

on 23/09/1954

- Fiscal Code : RMMPQL54P23I540V

 

Residence:

Catarino

, 6

- 35010

Cadoneghe

(PD)

- IT -

 

Position

Since

Shares Amount

% Ownership

Director

02/05/2016

Managing Director

02/05/2016

 

No Prejudicial events are reported

 

No Protests registered

 

Celegon

Marco

 

Born in Udine

(UD)

on 26/06/1976

- Fiscal Code : CLGMRC76H26L483P

 

Residence:

Romanina

, 7 B

- 31033

Castelfranco Veneto

(TV)

- IT -

 

Position

Since

Shares Amount

% Ownership

Auditor

04/05/2015



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.

 

Stocco

Ivano

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

Bocchino S.r.l.

Verduno (CN) - IT -

02825430040

Managing Director

Active

Registered

Bocchino S.r.l.

Verduno (CN) - IT -

02825430040

Director

Active

Registered

IMMOBILIARE COMITENSE SNC DI ZANCHIN C.eamp; C.

Villa del Conte (PD) - IT -

01293750285

Partner

Withdrawn

Registered

FOSCARINI PELLI S.R.L.

Castelfranco Veneto (TV) - IT -

02130270263

Chairman

Withdrawn

Registered

Immobiliare Zanchin S.r.l.

Villa del Conte (PD) - IT -

04150930289

Director

Active

Registered

 

Zanchin

Claudio

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

Immobiliare Zanchin S.r.l.

Villa del Conte (PD) - IT -

04150930289

Director

Active

Registered

Immobiliare Zanchin S.r.l.

Villa del Conte (PD) - IT -

04150930289

Board Chairman

Active

Registered

 

Zanchin

Francesco

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

Immobiliare Zanchin S.r.l.

Villa del Conte (PD) - IT -

04150930289

Director

Active

Registered

Immobiliare Zanchin S.r.l.

Villa del Conte (PD) - IT -

04150930289

Assistant board Chairman

Active

Registered

 

Auriemma

Pasqualino

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

Aurim S.p.a.

Cadoneghe (PD) - IT -

01947310288

Sole Director

Active

Registered

Aurim Sud S.r.l.

Acerra (NA) - IT -

Director

Withdrawn

Registered

Nice S.r.l. Manifattura Tessile

Briosco (MB) - IT -

01325630935

Director

Active

Registered

Nice S.r.l. Manifattura Tessile

Briosco (MB) - IT -

01325630935

Managing Director

Active

Registered

Nice S.r.l. Manifattura Tessile

Briosco (MB) - IT -

01325630935

Board Chairman

Active

Registered

Sconto Arredamenti S.r.l.

Camposampiero (PD) - IT -

01401440936

Sole Director

Withdrawn

Registered

Home Decor S.r.l.

Meda (MB) - IT -

02738661210

Sole Director

Active

Registered

Immobiliare Zanchin S.r.l.

Villa del Conte (PD) - IT -

04150930289

Director

Active

Registered

Abitex S.r.l.

Cadoneghe (PD) - IT -

04453620280

Sole Director

Active

Registered

Mood S.r.l.

Cadoneghe (PD) - IT -

04584840286

Sole Director

Active

Registered

Rada S.r.l.

Cadoneghe (PD) - IT -

04660140288

Sole Director

Active

Registered

Dolcevita Textile S.r.l.

Cadoneghe (PD) - IT -

04823360286

Sole Director

Active

Registered

Epoca S.r.l.

Cadoneghe (PD) - IT -

04881430286

Sole Director

Active

Registered

Baariatex S.r.l.

Cadoneghe (PD) - IT -

05067870286

Sole Director

Active

Registered

Exit S.r.l.

Cadoneghe (PD) - IT -

05089380280

Sole Director

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

Stocco Ivano

San Martino di Lupari - IT -

STCVNI59L13I008R

750.000 .Eur

25,00

Zanchin Claudio

Villa del Conte - IT -

ZNCCLD55T19L934S

750.000 .Eur

25,00

Zanchin Francesco

Villa del Conte - IT -

ZNCFNC50T17L934B

750.000 .Eur

25,00

Auriemma Pasqualino

Cadoneghe - IT -

RMMPQL54P23I540V

750.000 .Eur

25,00

 

 

Direct Participations

 

The Company under review has participations in the following Companies:

 

Firm's Style

Seat

Fiscal Code

Owned Shares Amount

% Ownership

since

until

Share Status

Bocchino S.r.l.

Verduno - IT -

02825430040

5.500 .Eur

55,00

Active

Immobiliare Zanchin S.r.l.

Villa del Conte - IT -

04150930289

25.000 .Eur

25,00

Active



Firm's location and structure

 

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

 

-

Legal and operative seat

since 01/11/1991

 

Piave

, 11/13

- 35010

- Curtarolo

(PD)

- IT -

 

PHONE

: 0499620321

 

Legal mail

: AMMINISTRAZIONE@PEC.HIDE.IT

 

-

Branch

(Store)

since 01/01/2010

 

Piana

, 46

- 12060

- Verduno

(CN)

- IT -

 

Employees

: 29

 

Assistants

: 3

 

Fittings and Equipment for a value of 790.000

Eur

 

Stocks for a value of 5.140.000

Eur

 

Furniture and fittings for a value of 62.000

Eur

 

Vehicles for a value of 88.000

Eur

 

The firm operates abroad as importer / exporter..

To purchase foreign products the firm uses the following channels :

- direct orders to foreign companies

Export represents up to 20% of the global turnover.

Products abroad are placed by :

- direct orders from foreign companies

 

 

Historical Information and/or Firm's Status

 

CHANGES TO THE LEGAL FORM:

 

Former legal form

New legal form

Changement Date

Limited liability company

Joint stock company

 

CEASINGS/INCORPORATIONS/MERGES:

 

The firm absorbed by merging of

 

Foscarini Pelli Srl

 

Montegrappa

, 70/A

, 31033

, Castelfranco Veneto

(TV)

- IT -

 

Date

:

20/05/1993



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

VERDUNO (CN)

Buildings

1

07/02/2018

CURTAROLO (PD)

Buildings

7

07/02/2018

CURTAROLO (PD)

Land

11

07/02/2018

 

Buildings Details

 

Cadastre

Title

Location

Sheet No.

Particle No.

Sub No.

Categorie

Classe

Consistence

Cadastrial Rent

Part No.

B

Proprieta' per 1/1

VERDUNO (CN) REGIONE PIANA, 46 Piano T

3

197

1

cat. D/1

Euro: 6.373,08

B

Proprieta' per 1/1

CURTAROLO (PD) VIA ARRIGO BOITO, Piano 1

1

1297

14

cat. A/2

2

4 vani

Euro:402,84

B

Proprieta' per 1/1

CURTAROLO (PD) VIA ARRIGO BOITO, Piano S1

1

1297

37

cat. C/6

2

17 mq

Euro:35,12

B

Proprieta' per 1000/1000

CURTAROLO (PD) VIA PIAVE, 7 Piano T

6

105

10

cat. D/8

Euro: 5.886,00

B

Proprieta' per 1000/1000

CURTAROLO (PD) VIA PIAVE, Piano T-1

6

105

4

cat. A/3

2

6,5 vani

Euro:486,76

1000631

B

Proprieta' per 1000/1000

CURTAROLO (PD) VIA PIAVE, 7 Piano T

6

105

8

cat. D/8

Euro: 7.148,00

B

Proprieta' per 1000/1000

CURTAROLO (PD) VIA PIAVE, 7 Piano T

6

105

9

cat. D/8

Euro: 4.220,00

B

Proprieta' per 1/1

CURTAROLO (PD) VIA PIAVE, Piano T

6

567

cat. D/1

Euro: 126,00

 

Land Details

 

Cadastre

Title

Location

Sheet No.

Particle No.

Sub No.

Category

Class

Consistence

Cadastrial Rent

Part No.

L

Proprieta' per 1/1

CURTAROLO (PD)

11

1076

SEMINATIVO

1

3 are 33 ca

R.D.Euro:3,29 (*) R.A. Euro: 2,15

L

Proprieta' per 1/1

CURTAROLO (PD)

11

1078

SEMINATIVO

1

54 ca

R.D.Euro:0,53 (*) R.A. Euro: 0,35

L

Proprieta' per 1/1

CURTAROLO (PD)

11

1081

FABB RURALE

10 are 93 ca

R.D.Euro: R.A. Euro:

6365

L

Proprieta' per 1/1

CURTAROLO (PD)

11

1083

SEMINATIVO

1

4 are 13 ca

R.D.Euro:4,08 (*) R.A. Euro: 2,67

L

Proprieta' per 1/1

CURTAROLO (PD)

11

846

AREA RURALE

1 are 47 ca

R.D.Euro: R.A. Euro:

L

Proprieta' per 1/1

CURTAROLO (PD)

11

848

SEMINATIVO

1

70 ca

R.D.Euro:0,69 (*) R.A. Euro: 0,45

L

Proprieta' per 1/1

CURTAROLO (PD)

6

104

SEMIN ARBOR

3

56 are 60 ca

R.D.Euro:38,57 (*) R.A. Euro: 27,77

4742

L

Proprieta' per 1/1

CURTAROLO (PD)

6

106

SEMINATIVO

3

1 ha

R.D.Euro:68,15 (*) R.A. Euro: 49,06

L

Proprieta' per 1/1

CURTAROLO (PD)

6

357

SEMIN ARBOR

3

30 ca

R.D.Euro:0,20 (*) R.A. Euro: 0,15

4740

L

Proprieta' per 1/1

CURTAROLO (PD)

6

566

SEMIN ARBOR

3

21 are 16 ca

R.D.Euro:14,42 (*) R.A. Euro: 10,38

L

Proprieta' per 1/1

CURTAROLO (PD)

6

60

SEMINATIVO

3

2 are

R.D.Euro:1,36 (*) R.A. Euro: 0,98

 

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 1985.

The economic-financial analysis has been made on the base of the b/s of the latests three years.

Under an economic point of view, profits were registered during the last years with a r.o.e. of 9,28% in 2016

The operating result was positive in the last financial year (4,16%) and in line with the sector's average.

The operating result is positive and amounts to Eur. 1.119.438 , on more or less the same values as in the year before.

The economic management produced a gross operating margin of Eur. 1.557.168 , stable if compared to the year before.

The analysis shows a fair financial position as the indebtedness volume is acceptable (1,9) yet on the increase as against the previous accounting period.

With regard to equity capital, an amount of Eur. 7.369.754 is registered. , unchanged if compared to 2015.

During the last financial year debts totalled Eur. 19.080.450 (Eur. 4.582.119 of which were m/l term debts) with a growth equal to 39,92%.

Bank borrowings' volume is slightly high but the recourse to suppliers' credit is modest which is also lower than the sector average.

Payments are supported by good current assets.

Trade credits average terms are 80,31 days. , shorter than the sector's average.

Eur. 1.121.408 is the value of cash flow during the year 2016

Labour cost amounts to Eur. 936.537, with a 1,6% incidence on production costs. and a 1,57% incidence on sales volumes.

If compared to the sales volume (-0,24%), the impact of the financial charges is limited.



Financial Data

 

Complete balance-sheet for the year

al 31/12/2016

(in Eur

x 1)

 

Item Type

Value

Sales

59.476.939

Profit (Loss) for the period

683.678

 

Complete balance-sheet for the year

al 31/12/2015

(in Eur

x 1)

 

Item Type

Value

Sales

66.228.396

Profit (Loss) for the period

708.794

 

Complete balance-sheet for the year

al 31/12/2014

(in Eur

x 1)

 

Item Type

Value

Sales

70.831.203

Profit (Loss) for the period

510.993

 

Complete balance-sheet for the year

al 31/12/2013

(in Eur

x 1)

 

Item Type

Value

Sales

75.156.433

Profit (Loss) for the period

2.103.349

 

Complete balance-sheet for the year

al 31/12/2012

(in Eur

x 1)

 

Item Type

Value

Sales

59.078.859

Profit (Loss) for the period

1.166.221



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

. . Concessions,licenses,trademarks,etc.

227

893

9.886

. . Goodwill

. . Assets in formation and advance paymen.

. . Other intangible fixed assets

18.176

35.698

61.354

. Total Intangible Fixed Assets

18.403

36.591

71.240

. TANGIBLE FIXED ASSETS

. . Real estate

2.962.802

2.995.695

2.966.322

. . Plant and machinery

728.565

880.474

1.026.264

. . Industrial and commercial equipment

60.600

28.129

47.783

. . Other assets

330.946

340.037

295.542

. . Assets under construction and advances

103.800

. Total Tangible fixed assets

4.186.713

4.244.335

4.335.911

. FINANCIAL FIXED ASSETS

. . Equity investments

396.811

396.811

396.811

. . . Equity invest. in subsidiary companies

396.811

396.811

396.811

. . . Equity invest. in associated companies

. . . Equity invest. in holding companies

. . . Equity invest. in other companies

. . Financial receivables

672.050

672.050

752.983

. . . . Within 12 months

. . . . Beyond 12 months

672.050

672.050

752.983

. . . Receivab due from subsidiaries

670.000

670.000

670.000

. . . . Within 12 months

. . . . Beyond 12 months

670.000

670.000

670.000

. . . 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

2.050

2.050

82.983

. . . . Within 12 months

. . . . Beyond 12 months

2.050

2.050

82.983

. . Other securities

. . Own shares

. . . Total nominal value

. Total financial fixed assets

1.068.861

1.068.861

1.149.794

Total fixed assets

5.273.977

5.349.787

5.556.945

CURRENT ASSETS

. INVENTORIES

. . Raw materials and other consumables

3.170.581

2.852.568

3.541.021

. . Work in progress and semimanufactured

1.924.324

2.101.710

2.235.736

. . Work in progress on order

. . Finished goods

. . Advance payments

40.453

785

102.741

. Total Inventories

5.135.358

4.955.063

5.879.498

. CREDITS NOT HELD AS FIXED ASSETS

. . Within 12 months

15.908.519

9.188.694

11.983.400

. . Beyond 12 months

19.906

27.238

56.948

. . Trade receivables

13.267.693

7.444.740

9.192.366

. . . . Within 12 months

13.267.693

7.444.740

9.192.366

. . . . Beyond 12 months

. . Receivables due from subsid. comp.

52.287

46.995

30.284

. . . . Within 12 months

52.287

46.995

30.284

. . . . Beyond 12 months

. . Receivables due from assoc. comp.

. . . . Within 12 months

. . . . Beyond 12 months

. . Receivables due from holding comp.

. . . . Within 12 months

. . . . Beyond 12 months

. . Fiscal Receivables

2.530.052

1.668.645

2.743.232

. . . . Within 12 months

2.510.146

1.644.501

2.689.766

. . . . Beyond 12 months

19.906

24.144

53.466

. . Receivables for anticipated taxes

32.532

31.426

40.160

. . . . Within 12 months

32.532

28.332

36.678

. . . . Beyond 12 months

3.094

3.482

. . Receivables due from third parties

45.861

24.126

34.306

. . . . Within 12 months

45.861

24.126

34.306

. . . . Beyond 12 months

. Total Credits not held as fixed assets

15.928.425

9.215.932

12.040.348

. 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

590

. LIQUID FUNDS

. . Bank and post office deposits

488.838

1.183.133

1.520.520

. . Checks

600

. . Banknotes and coins

443

1.659

2.200

. Total Liquid funds

489.281

1.184.792

1.523.320

Total current assets

21.553.654

15.355.787

19.443.166

ADJUSTMENT ACCOUNTS

. Discount on loans

53.122

12.866

. Other adjustment accounts

57.935

Total adjustments accounts

57.935

53.122

12.866

TOTAL ASSETS

26.885.566

20.758.696

25.012.977

LIABILITIES

STOCKHOLDERS' EQUITY

. Capital stock

3.000.000

3.000.000

3.000.000

. Additional paid-in capital

. Revaluation reserves

. Legal reserve

224.633

189.194

163.644

. Reserve for Own shares

. Statute reserves

. Other reserves

3.461.443

2.788.084

2.302.641

. Accumulated Profits (Losses)

. Profit( loss) of the year

683.678

708.794

510.993

. Advances on dividends

. Partial loss of the year Coverage

Total Stockholders'Equity

7.369.754

6.686.072

5.977.278

RESERVES FOR RISKS AND CHARGES

. . Reserve for employee termination indem.

. . Taxation fund, also differed

5.827

1.188

7.027

. . Other funds

33.309

227

751

Total Reserves for Risks and Charges

39.136

1.415

7.778

Employee termination indemnities

382.387

420.463

442.382

ACCOUNTS PAYABLE

. . . . Within 12 months

14.498.331

8.555.376

13.367.880

. . . . Beyond 12 months

4.582.119

5.081.201

5.190.376

. . Bonds

. . . . Within 12 months

. . . . Beyond 12 months

. . Convertible bonds repayable

. . . . Within 12 months

. . . . Beyond 12 months

. . Due to shareholders for financing

224.000

224.000

224.000

. . . . Within 12 months

. . . . Beyond 12 months

224.000

224.000

224.000

. . Due to banks

13.869.529

9.352.806

12.460.336

. . . . Within 12 months

9.511.410

4.495.605

7.493.960

. . . . Beyond 12 months

4.358.119

4.857.201

4.966.376

. . Due to other providers of finance

. . . . Within 12 months

. . . . Beyond 12 months

. . Advances from customers

7.200

57.590

. . . . Within 12 months

7.200

57.590

. . . . Beyond 12 months

. . Trade payables

4.069.675

3.157.009

5.022.944

. . . . Within 12 months

4.069.675

3.157.009

5.022.944

. . . . Beyond 12 months

. . Securities issued

. . . . Within 12 months

. . . . Beyond 12 months

. . Due to subsidiary companies

649.669

594.651

557.723

. . . . Within 12 months

649.669

594.651

557.723

. . . . Beyond 12 months

. . Due to associated companies

. . . . Within 12 months

. . . . Beyond 12 months

. . Due to holding companies

. . . . Within 12 months

. . . . Beyond 12 months

. . Due to the tax authorities

109.072

137.657

61.472

. . . . Within 12 months

109.072

137.657

61.472

. . . . Beyond 12 months

. . Due to social security and welfare inst.

68.160

77.193

80.369

. . . . Within 12 months

68.160

77.193

80.369

. . . . Beyond 12 months

. . Other payables

90.345

86.061

93.822

. . . . Within 12 months

90.345

86.061

93.822

. . . . Beyond 12 months

Total accounts payable

19.080.450

13.636.577

18.558.256

ADJUSTMENT ACCOUNTS

. Agio on loans

. Other adjustment accounts

13.839

14.169

27.283

Total adjustment accounts

13.839

14.169

27.283

TOTAL LIABILITIES

26.885.566

20.758.696

25.012.977

 

MEMORANDUM ACCOUNTS

 

Third party goods

Investment accounts

175.000

175.000

Risk accounts

Civil and fiscal norms relation

 

PROFIT AND LOSS ACCOUNTS

 

VALUE OF PRODUCTION

. Revenues from sales and services

59.476.939

66.228.396

70.831.203

. Changes in work in progress

-177.386

-134.026

654.477

. Changes in semi-manufact. products

. Capitalization of internal work

. Other income and revenues

345.357

341.137

347.336

. . Contributions for operating expenses

172.315

183.033

177.538

. . Different income and revenues

173.042

158.104

169.798

Total value of production

59.644.910

66.435.507

71.833.016

PRODUCTION COSTS

. Raw material,other materials and consum.

52.934.182

58.280.493

64.188.989

. Services received

4.451.490

4.704.150

5.597.370

. Leases and rentals

13.303

15.731

16.938

. Payroll and related costs

936.537

1.047.951

955.514

. . Wages and salaries

673.669

753.805

677.134

. . Social security contributions

205.315

233.424

221.628

. . Employee termination indemnities

48.506

50.569

47.716

. . Pension and similar

. . Other costs

9.047

10.153

9.036

. Amortization and depreciation

437.730

410.619

552.016

. . Amortization of intangible fixed assets

20.027

33.230

36.582

. . Amortization of tangible fixed assets

347.160

358.110

377.077

. . Depreciation of tangible fixed assets

. . Writedown of current receiv.and of liquid

70.543

19.279

138.357

. Changes in raw materials

-318.013

688.453

-443.474

. Provisions to risk reserves

. Other provisions

. Other operating costs

70.243

80.864

67.801

Total production costs

58.525.472

65.228.261

70.935.154

Diff. between value and cost of product.

1.119.438

1.207.246

897.862

FINANCIAL INCOME AND EXPENSE

. Income from equity investments

36.850

34.100

. . In subsidiary companies

36.850

34.100

. . In associated companies

. . In other companies

. Other financial income

22.470

30.094

34.309

. . Financ.income from receivables

5.292

16.711

18.144

. . . Towards subsidiary companies

5.292

16.711

18.144

. . . Towards associated companies

. . . Towards holding companies

. . . Towards other companies

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

. . Financ.income from secur. cur.assets

. . Financ.income other than the above

17.178

13.383

16.165

. . . - Subsidiary companies

. . . - Associated companies

. . . - Holding companies

. . . - Other companies

17.178

13.383

16.165

. Interest and other financial expense

-164.527

-184.622

-247.382

. . Towards subsidiary companies

. . Towards associated companies

. . Towards holding companies

. . Towards other companies

Total financial income and expense

-142.057

-117.678

-178.973

ADJUSTMENTS TO FINANCIAL ASSETS

. Revaluations

590

. . Of equity investments

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

. . Of securities incl.among current assets

590

. Devaluation

-33.309

. . Of equity investments

. . Of financial fixed assets (no equity inv)

. . Of securities included among current ass

-33.309

Total adjustments to financial assets

-32.719

EXTRAORDINARY INCOME AND EXPENSE

. Extraordinary income

13.445

7.147

. . Gains on disposals

. . Other extraordinary income

13.445

7.147

. Extraordinary expense

-92.568

-379

. . Losses on disposals

. . Taxes relating to prior years

. . Other extraordinary expense

-92.568

-379

Total extraordinary income and expense

-79.123

6.768

Results before income taxes

944.662

1.010.445

725.657

. Taxes on current income

260.984

301.651

214.664

. . current taxes

259.173

298.756

236.455

. . differed taxes(anticip.)

2.895

21.791

. Net income for the period

683.678

708.794

510.993

. Adjustments in tax regulations pursuance

. Provisions in tax regulations pursuance

. Profit (loss) of the year

683.678

708.794

510.993

 

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

0,20

0,26

0,22

0,18

Elasticity Ratio

Units

0,80

0,74

0,78

0,80

Availability of stock

Units

0,19

0,24

0,24

0,20

Total Liquidity Ratio

Units

0,61

0,50

0,54

0,51

Quick Ratio

Units

0,02

0,06

0,06

0,02

COMPOSITION ON SOURCE

Net Short-term indebtedness

Units

1,90

1,10

1,98

2,38

Self Financing Ratio

Units

0,27

0,32

0,24

0,24

Capital protection Ratio

Units

0,50

0,45

0,41

0,68

Liabilities consolidation quotient

Units

0,34

0,64

0,42

0,18

Financing

Units

2,59

2,04

3,10

2,86

Permanent Indebtedness Ratio

Units

0,46

0,59

0,46

0,38

M/L term Debts Ratio

Units

0,18

0,27

0,23

0,11

Net Financial Indebtedness Ratio

Units

1,85

1,26

1,87

1,00

CORRELATION

Fixed assets ratio

Units

2,34

2,28

2,09

1,78

Current ratio

Units

1,49

1,79

1,45

1,25

Acid Test Ratio-Liquidity Ratio

Units

1,13

1,22

1,01

0,84

Structure's primary quotient

Units

1,40

1,25

1,08

1,07

Treasury's primary quotient

Units

0,03

0,14

0,11

0,03

Rate of indebtedness ( Leverage )

%

364,81

310,48

418,47

408,81

Current Capital ( net )

Value

7.055.323

6.800.411

6.075.286

312.424

RETURN

Return on Sales

%

1,89

1,69

1,50

2,67

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

%

9,28

10,60

8,55

3,20

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

%

12,82

15,11

12,14

8,58

Return on Investment ( R.O.I. )

%

4,16

5,82

3,59

4,36

Return/ Sales

%

1,88

1,82

1,27

3,63

Extra Management revenues/charges incid.

%

61,07

58,71

56,91

23,99

Cash Flow

Value

1.121.408

1.119.413

1.063.009

112.609

Operating Profit

Value

1.119.438

1.207.246

897.862

127.644

Gross Operating Margin

Value

1.557.168

1.617.865

1.449.878

230.719

MANAGEMENT

Credits to clients average term

Days

80,31

40,47

46,72

101,46

Debts to suppliers average term

Days

29,60

21,44

28,78

94,66

Average stock waiting period

Days

31,08

26,93

29,88

56,34

Rate of capital employed return ( Turnover )

Units

2,21

3,19

2,83

1,34

Rate of stock return

Units

11,58

13,37

12,05

6,30

Labour cost incidence

%

1,57

1,58

1,35

12,44

Net financial revenues/ charges incidence

%

-0,24

-0,18

-0,25

-1,48

Labour cost on purchasing expenses

%

1,60

1,61

1,35

12,90

Short-term financing charges

%

0,86

1,35

1,33

3,49

Capital on hand

%

45,20

31,34

35,31

74,43

Sales pro employee

Value

2.050.928

2.069.637

2.442.455

253.464

Labour cost pro employee

Value

32.294

32.748

32.948

32.147

 

 

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

:

882.779

Population living in the region

:

4.699.950

Number of families in the region

:

1.813.210

 

Monthly family expences average in the region (in Eur..) :

 

- per food products

:

456

- per non food products

:

2.052

- per energy consume

:

127

 

 

Sector Data

 

The values are calculated on a base of 923 significant companies.

The companies cash their credits on an average of 101 dd.

The average duration of suppliers debts is about 95 dd.

The sector's profitability is on an average of 2,67%.

The labour cost affects the turnover in the measure of 12,44%.

Goods are held in stock in a range of 56 dd.

The difference between the sales volume and the resources used to realize it is about 1,34.

The employees costs represent the 12,90% of the production costs.

 

 

Statistical Detrimental Data

 

Statistically the trade activity passes through serious crises.

The area is statistically considered moderately risky.

In the region 13.782 protested subjects are found; in the province they count to 2.646.

The insolvency index for the region is 0,30, , while for the province it is 0,30.

Total Bankrupt companies in the province : 3.821.

Total Bankrupt companies in the region : 16.714.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 64.16

UK Pound

1

INR 89.19

Euro

1

INR 78.75

Euro

1

INR 78.82 

 

Note : Above are approximate rates obtained from sources believed to be correct

 

 

INFORMATION DETAILS

 

Analysis Done by :

VIV

 

 

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)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

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