|
|
|
MIRA INFORM REPORT
|
Report No. : |
492939 |
|
Report Date : |
17.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
PLAS MEC SRL |
|
|
|
|
Registered Office : |
Via Europa, 79, 21015- Lonate Pozzolo(VA)-IT |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2016 |
|
|
|
|
Date of Incorporation : |
04.02.1985 |
|
|
|
|
Legal Form : |
Limited liability
company |
|
|
|
|
Line of Business : |
Manufacture of machinery for the plastic and rubber
industry (including spare parts and accessories) |
|
|
|
|
No. of Employees : |
From 71 to 90 |
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 : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
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’s economy compromises a developed industrial north, dominated by private companies, and a less-developed, highly subsidized, agricultural south, with a legacy of unemployment and underdevelopment. 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 economic problems, including 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 2011. In 2015-16, Italy’s economy grew at about 1% each year, and in
|
Source : CIA |
Company
name and address
|
Plas Mec Srl |
|
Via |
Europa, |
79 |
|
21015 |
- Lonate Pozzolo |
(VA) |
-IT- |
Summary
|
Fiscal Code |
: |
01512310127 |
|
Legal Form |
: |
Limited liability company |
|
start of Activities |
: |
02/05/1985 |
|
Equity |
: |
Unknown. |
|
Turnover Range |
: |
12.750.000/15.500.000 |
|
Number of Employees |
: |
from 71 to 90 |
Activity
Manufacture of machinery for the plastic and rubber
industry (including spare parts and accessories)
Legal Data
Legal Form : Limited liability company
|
Fiscal Code : 01512310127 |
|
Foreign Trade Reg. no. : VA003742 since
03/12/1991 |
|
Foreign Trade Reg. no. : 3742 of Varese since
03/12/1991 |
|
Chamber of Commerce no. : 187670 of Varese since
26/03/1985 |
|
Firms' Register : VA026-17560 of Varese since
19/02/1996 |
|
V.A.T. Code : 01512310127 |
|
Tribunal Co. Register : 17560 of |
|
Foundation date |
: 04/02/1985 |
|
|
Establishment date |
: 04/02/1985 |
|
|
Start of Activities |
: 02/05/1985 |
|
|
Legal duration |
: 30/06/2050 |
|
|
Nominal Capital |
: 100.000 |
|
|
Subscribed Capital |
: 100.000 |
|
|
Paid up Capital |
: 100.000 |
|
Legal mail : |
PLASMEC@CERTIMPRESE.IT |
Members
|
Desperati |
Lucia |
|
Born in Lonate Pozzolo |
(VA) |
on 06/07/1941 |
- Fiscal Code : DSPLCU41L46E666H |
|
Residence: |
S. Antonino |
, 22 |
- 21015 |
Lonate Pozzolo |
(VA) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Board Chairman |
29/04/2013 |
||
|
Director |
29/04/2013 |
|
No Prejudicial events are reported |
|
No Protests registered |
|
Marinello |
Fernanda Maria |
|
Born in Busto Arsizio |
(VA) |
on 09/04/1970 |
- Fiscal Code : MRNFNN70D49B300V |
|
Residence: |
Francesco Baracca |
, 23/O |
- 21015 |
Lonate Pozzolo |
(VA) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
29/04/2013 |
||
|
Partner |
|
No Prejudicial events are reported |
|
No Protests registered |
|
Marinello |
Paola |
|
Born in Busto Arsizio |
(VA) |
on 25/09/1972 |
- Fiscal Code : MRNPLA72P65B300U |
|
Residence: |
Della Pergola |
, 17 |
- 21052 |
Busto Arsizio |
(VA) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
29/04/2013 |
||
|
Partner |
|
No Prejudicial events are reported |
|
No Protests registered |
|
Grigolon |
Massimo |
|
Born in Busto Arsizio |
(VA) |
on 13/08/1969 |
- Fiscal Code : GRGMSM69M13B300M |
|
Residence: |
Della Pergola |
, 17 |
- 21052 |
Busto Arsizio |
(VA) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
29/04/2013 |
|
Rabbachin |
Massimo |
|
Born in Gallarate |
(VA) |
on 31/08/1967 |
- Fiscal Code : RBBMSM67M31D869H |
|
Residence: |
Francesco Baracca |
, 23/O |
- 21015 |
Lonate Pozzolo |
(VA) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
29/04/2013 |
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.
|
Desperati |
Lucia |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
"ricom - S.r.l." |
Lonate Pozzolo (VA) - IT - |
00535310122 |
Director |
Withdrawn |
Ceased |
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 |
|
Desperati Lucia |
Lonate Pozzolo - IT - |
DSPLCU41L46E666H |
27.286 .Eur |
27,28 |
|
Marinello Fernanda Maria |
Lonate Pozzolo - IT - |
MRNFNN70D49B300V |
35.856 .Eur |
35,85 |
|
Marinello Paola |
Busto Arsizio - IT - |
MRNPLA72P65B300U |
35.856 .Eur |
35,85 |
|
Marinello Marco |
Busto Arsizio - IT - |
MRNMRC71P25B300S |
1.000 .Eur |
1,00 |
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 |
|
Consorzio Per L'energia Varese (in Breve
Energi.va ) |
Varese - IT - |
02513640124 |
Active |
Firm's location and structure
In order to carry out its activities the firm uses
the following locations:
|
- |
Legal and operative seat |
|
Europa |
, 79 |
- 21015 |
- Lonate Pozzolo |
(VA) |
- IT - |
|
PHONE |
: 0331301648 |
|
FAX |
: 0331301749 |
|
Legal mail |
: PLASMEC@CERTIMPRESE.IT |
|
Employees |
: 76 |
|
Fittings and Equipment for a value of 360.000 |
Eur |
|
Stocks for a value of 3.620.000 |
Eur |
Historical Information and/or Firm's Status
CEASINGS/INCORPORATIONS/MERGES:
|
The firm absorbed by merging of |
|
Date |
: |
03/02/1986 |
|
The firm absorbed by merging of |
|
Date |
: |
01/01/1988 |
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 |
|
LONATE POZZOLO (VA) |
Buildings |
1 |
14/02/2018 |
|
SAMARATE (VA) |
Land |
2 |
14/02/2018 |
|
Buildings Details |
|
Cadastre |
Title |
Location |
Sheet No. |
Particle No. |
Sub No. |
Categorie |
Classe |
Consistence |
Cadastrial Rent |
Part No. |
|
B |
Proprieta' per 1000/1000 |
LONATE POZZOLO (VA) CORSO EUROPA, 79 Piano S1-T -
1 |
LO/19 |
1956 |
501 |
cat. D/1 |
Euro: 54.419,00 |
|
Land Details |
|
Cadastre |
Title |
Location |
Sheet No. |
Particle No. |
Sub No. |
Category |
Class |
Consistence |
Cadastrial Rent |
Part No. |
|
L |
Proprieta' per 1000/1000 |
SAMARATE (VA) |
1 |
2025 |
BOSCO CEDUO |
2 |
20 are 60 ca |
R.D.Euro:3,19 R.A. Euro: 0,64 |
5908 |
|
|
L |
Proprieta' per 1000/1000 |
SAMARATE (VA) |
1 |
5949 |
SEMINATIVO |
3 |
13 are |
R.D.Euro:7,39 R.A. Euro: 6,04 |
5908 |
All responsibilities are declined regarding any possible
omissions concerning the given results. Therefore, we advise to request for
"Hypothecating Survey Inspection" c/o the locally competent RR.II.
Immovables Registry, as this service doesn't fully guarantees the actual title
of the Real Estates of the requested Subject.
Financial and Economical
Analysis
Subject is active since 1985
Balance sheets for the years 2014, 2015 and 2016
were analyzed.
During the last years, the subject company
registered net losses.
A loss is registered as to the operating result
(-4,05%).
the operating loss amounts to Eur. -428.659.
With regard to GOM, subject closed 2016 financial
account with a negative result (Eur. -124.598).
Short term indebtedness as opposed to the net worth
is fairly high as the gearing ratio shows which tends upward.
The amount of equity capital is lower than the
economic results; the shareholders funds are equal to Eur. -330.896.
In the year 2016 total debts amounted to Eur.
9.643.773 with no important change.
Payments average periods time are slightly high
(146,77 gg.) but lined up with the sector's average.
It shows a not very good liquidity level.
Trade credits average terms are 77,49 days. , a
better value than the sector's average.
Managerial cash flow has a minus sign and is equal
to Eur. -545.365.
Labour cost amounts to Eur. 4.542.885, with a
32,02% incidence on production costs. , whereas 33,82% is the incidence on
sales revenues.
Limited financial charges in relation to sales
volume.
Financial Data
|
Complete balance-sheet for the year |
al 31/12/2016 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
13.431.526 |
|
Profit (Loss) for the period |
-849.426 |
|
Complete balance-sheet for the year |
al 31/12/2015 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
13.214.592 |
|
Profit (Loss) for the period |
-925.033 |
|
Complete balance-sheet for the year |
al 31/12/2014 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
13.307.685 |
|
Profit (Loss) for the period |
-402.702 |
|
Complete balance-sheet for the year |
al 31/12/2013 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
14.172.459 |
|
Profit (Loss) for the period |
190.878 |
|
Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
8.474.864 |
|
Profit (Loss) for the period |
248.944 |
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 |
0,32 |
0,30 |
0,33 |
0,18 |
|
Elasticity Ratio |
Units |
0,67 |
0,69 |
0,66 |
0,80 |
|
Availability of stock |
Units |
0,34 |
0,31 |
0,34 |
0,24 |
|
Total Liquidity Ratio |
Units |
0,33 |
0,38 |
0,32 |
0,48 |
|
Quick Ratio |
Units |
0,04 |
0,05 |
0,05 |
0,03 |
|
COMPOSITION ON SOURCE |
|||||
|
Net Short-term indebtedness |
Units |
n.c. |
15,65 |
5,18 |
3,25 |
|
Self Financing Ratio |
Units |
n.c. |
0,04 |
0,13 |
0,19 |
|
Capital protection Ratio |
Units |
n.c. |
2,27 |
1,10 |
0,63 |
|
Liabilities consolidation quotient |
Units |
0,09 |
0,19 |
0,10 |
0,19 |
|
Financing |
Units |
n.c. |
18,76 |
5,65 |
3,80 |
|
Permanent Indebtedness Ratio |
Units |
0,05 |
0,18 |
0,20 |
0,36 |
|
M/L term Debts Ratio |
Units |
0,08 |
0,14 |
0,07 |
0,11 |
|
Net Financial Indebtedness Ratio |
Units |
n.c. |
5,59 |
1,39 |
0,63 |
|
CORRELATION |
|||||
|
Fixed assets ratio |
Units |
0,15 |
0,61 |
0,61 |
1,75 |
|
Current ratio |
Units |
0,75 |
0,93 |
0,93 |
1,21 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
0,37 |
0,52 |
0,45 |
0,81 |
|
Structure's primary quotient |
Units |
n.c. |
0,15 |
0,39 |
1,03 |
|
Treasury's primary quotient |
Units |
0,05 |
0,07 |
0,07 |
0,06 |
|
Rate of indebtedness ( Leverage ) |
% |
n.c. |
2280,37 |
777,59 |
516,42 |
|
Current Capital ( net ) |
Value |
-2.332.239 |
-573.824 |
-602.059 |
422.465 |
|
RETURN |
|||||
|
Return on Sales |
% |
-4,06 |
-4,62 |
-0,78 |
3,35 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
n.c. |
-177,37 |
-27,84 |
5,13 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
n.c. |
-177,37 |
-20,33 |
14,77 |
|
Return on Investment ( R.O.I. ) |
% |
-4,05 |
-7,02 |
-3,22 |
4,16 |
|
Return/ Sales |
% |
-3,19 |
-6,32 |
-2,72 |
4,11 |
|
Extra Management revenues/charges incid. |
% |
n.c. |
n.c. |
n.c. |
28,57 |
|
Cash Flow |
Value |
-545.365 |
-610.265 |
-103.499 |
122.482 |
|
Operating Profit |
Value |
-428.659 |
-835.419 |
-362.307 |
144.752 |
|
Gross Operating Margin |
Value |
-124.598 |
-520.651 |
-63.104 |
241.990 |
|
MANAGEMENT |
|||||
|
Credits to clients average term |
Days |
77,49 |
86,91 |
58,71 |
111,85 |
|
Debts to suppliers average term |
Days |
146,77 |
143,98 |
146,04 |
128,30 |
|
Average stock waiting period |
Days |
97,15 |
100,38 |
103,14 |
80,43 |
|
Rate of capital employed return ( Turnover ) |
Units |
1,27 |
1,11 |
1,18 |
1,08 |
|
Rate of stock return |
Units |
3,71 |
3,59 |
3,49 |
4,45 |
|
Labour cost incidence |
% |
33,82 |
33,40 |
32,87 |
19,12 |
|
Net financial revenues/ charges incidence |
% |
-0,81 |
-0,71 |
-0,61 |
-1,08 |
|
Labour cost on purchasing expenses |
% |
32,02 |
31,56 |
33,84 |
19,02 |
|
Short-term financing charges |
% |
1,15 |
1,06 |
1,15 |
2,68 |
|
Capital on hand |
% |
78,84 |
90,00 |
84,53 |
91,91 |
|
Sales pro employee |
Value |
95.259 |
96.456 |
97.850 |
198.432 |
|
Labour cost pro employee |
Value |
32.219 |
32.220 |
32.162 |
35.779 |
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 |
: |
843.250 |
|
Population living in the region |
: |
9.393.092 |
|
Number of families in the region |
: |
3.858.736 |
Monthly family expences average in the region (in
Eur..) :
|
- per food products |
: |
460 |
|
- per non food products |
: |
2.090 |
|
- per energy consume |
: |
114 |
Sector Data
The values are calculated on a base of 1.206
significant companies.
The companies cash their credits on an average of
112 dd.
The average duration of suppliers debts is about
128 dd.
The sector's profitability is on an average of
3,35%.
The labour cost affects the turnover in the measure
of 19,12%.
Goods are held in stock in a range of 80 dd.
The difference between the sales volume and the
resources used to realize it is about 1,08.
The employees costs represent the 19,02% of the
production costs.
Statistical Detrimental Data
Statistcally the trade activity shows periods of
crisis.
The area is statistically considered moderately
risky.
In the region 50.886 protested subjects are found;
in the province they count to 4.597.
The insolvency index for the region is 0,55, ,
while for the province it is 0,55.
Total Bankrupt companies in the province : 3.052.
Total Bankrupt companies in the region : 39.612.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 63.91 |
|
|
1 |
INR 90.31 |
|
Euro |
1 |
INR 80.17 |
|
Euro |
1 |
INR 79.89 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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.