MIRA INFORM REPORT

 

 

Report No. :

492915

Report Date :

17.02.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

TESSITURA MONTI S.P.A

 

 

Registered Office :

Via Saltore, Varago, 31052- Maserada Sul Piave  (TV) -IT

 

 

Country :

Italy

 

 

Financials (as on) :

31.12.2015

 

 

Date of Incorporation :

12.06.1980

 

 

Legal Form :

Joint stock company with sole shareholder

 

 

Line of Business :

·         Manufacture of textiles

·         Weaving of textiles

 

 

No. of Employees :

From 251 to 500

 

 

RATING & COMMENTS

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

 

MIRA’s Rating :

B

 

Credit Rating

Explanation

Rating Comments

B

Medium Risk

Business dealings permissible on a regular monitoring 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

(30.09.2017)

Current Rating

(31.12.2017)

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 133% of GDP in 2016. 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 0.7% each year. In 2016, overall unemployment was 11.7%, but youth unemployment remains high at 37.1%.

 

Source : CIA

 


COMPANY NAME AND ADDRESS

 

Tessitura Monti S.p.a.

 

Via

Saltore,

VARAGO

 

31052

- Maserada sul Piave

(TV)

-IT-

 

 

Summary

 

Fiscal Code

:

01141930261

Legal Form

:

Joint stock company with sole shareholder

start of Activities

:

12/06/1980

Equity

:

Over 2.582.254

Turnover Range

:

50.000.000/75.000.000

Number of Employees

:

from 251 to 500

 

 

Activity

 

Manufacture of textiles

Weaving of textiles



Legal Data

 

Legal Form : Joint stock company with sole shareholder

Fiscal Code : 01141930261

 

Foreign Trade Reg. no. : TV012633 since 19/12/1991

 

Chamber of Commerce no. : 142825 of Treviso since 25/07/1980

 

Firms' Register : TV086-12309 of Treviso since 19/02/1996

 

V.A.T. Code : 01141930261

 

Foundation date

: 12/06/1980

Establishment date

: 12/06/1980

Start of Activities

: 12/06/1980

Legal duration

: 31/12/2030

Nominal Capital

: 6.000.000

Subscribed Capital

: 6.000.000

Paid up Capital

: 6.000.000

 

Legal mail :

TESSITURAMONTI@PEC.MONTI.IT

 

 

Members

 

Description: http://adcexe.eurocredit.it/ReportHtml/Verde.gif

Monti

Bruno

 

Description: http://adcexe.eurocredit.it/ReportHtml/Vuoto.gif

Born in Treviso

(TV)

on 31/01/1957

- Fiscal Code : MNTBRN57A31L407Y

 

Description: http://adcexe.eurocredit.it/ReportHtml/Vuoto.gif

Residence:

Saltore

, 1

- 31052

Maserada sul Piave

(TV)

- IT -

 

Position

Since

Shares Amount

% Ownership

Director

27/06/2016



Description: http://adcexe.eurocredit.it/ReportHtml/Verde.gif

Monti

Giovanni

 

Description: http://adcexe.eurocredit.it/ReportHtml/Vuoto.gif

Born in Maserada sul Piave

(TV)

on 02/12/1946

- Fiscal Code : MNTGNN46T02F012A

 

Description: http://adcexe.eurocredit.it/ReportHtml/Vuoto.gif

Residence:

Marconi

, 4

- 31052

Maserada sul Piave

(TV)

- IT -

 

Position

Since

Shares Amount

% Ownership

Director

27/06/2016

Board Chairman

27/06/2016

 

Description: http://adcexe.eurocredit.it/ReportHtml/Vuoto.gif

No Prejudicial events are reported

 

Description: http://adcexe.eurocredit.it/ReportHtml/Vuoto.gif

No Protests registered

 

Description: http://adcexe.eurocredit.it/ReportHtml/Verde.gif

Monti

Paolo

 

Description: http://adcexe.eurocredit.it/ReportHtml/Vuoto.gif

Born in Maserada sul Piave

(TV)

on 28/06/1953

- Fiscal Code : MNTPLA53H28F012A

 

Description: http://adcexe.eurocredit.it/ReportHtml/Vuoto.gif

Residence:

Trevisana

, 7

- 31052

Maserada sul Piave

(TV)

- IT -

 

Position

Since

Shares Amount

% Ownership

Director

27/06/2016



Description: http://adcexe.eurocredit.it/ReportHtml/Verde.gif

Monti

Manuel

 

Description: http://adcexe.eurocredit.it/ReportHtml/Vuoto.gif

Born in Carbonera

(TV)

on 02/09/1950

- Fiscal Code : MNTMNL50P02B744K

 

Description: http://adcexe.eurocredit.it/ReportHtml/Vuoto.gif

Residence:

Pezie'

, 116

- 32043

Cortina d'Ampezzo

(BL)

- IT -

 

Position

Since

Shares Amount

% Ownership

Director

27/06/2016



Description: http://adcexe.eurocredit.it/ReportHtml/Verde.gif

Monti

Massimo

 

Description: http://adcexe.eurocredit.it/ReportHtml/Vuoto.gif

Born in Treviso

(TV)

on 05/03/1964

- Fiscal Code : MNTMSM64C05L407Z

 

Description: http://adcexe.eurocredit.it/ReportHtml/Vuoto.gif

Residence:

Pietro Maffetti

, 12

- 31100

Treviso

(TV)

- IT -

 

Position

Since

Shares Amount

% Ownership

Director

27/06/2016



Description: http://adcexe.eurocredit.it/ReportHtml/Verde.gif

Gruppo Tessile Monti S.p.a.

 

 

Description: http://adcexe.eurocredit.it/ReportHtml/Vuoto.gif

Residence:

Saltore

, 10

- 31052

Maserada sul Piave

(TV)

- IT -

 

Position

Since

Shares Amount

% Ownership

Sole partner

24/06/2010

 

Description: http://adcexe.eurocredit.it/ReportHtml/Vuoto.gif

No Prejudicial events are reported

 

Description: http://adcexe.eurocredit.it/ReportHtml/Vuoto.gif

No Protests registered

 

Description: http://adcexe.eurocredit.it/ReportHtml/Verde.gif

Belenghi

Luca

 

Description: http://adcexe.eurocredit.it/ReportHtml/Vuoto.gif

Born in Milano

(MI)

on 23/11/1960

- Fiscal Code : BLNLCU60S23F205W

 

Description: http://adcexe.eurocredit.it/ReportHtml/Vuoto.gif

Residence:

Federico Ozanam

, 15

- 20129

Milano

(MI)

- IT -

 

Position

Since

Shares Amount

% Ownership

Director

27/06/2016

Managing Director

27/06/2016

General Director

02/07/2013

 

Description: http://adcexe.eurocredit.it/ReportHtml/Vuoto.gif

No Prejudicial events are reported

 

Description: http://adcexe.eurocredit.it/ReportHtml/Vuoto.gif

No Protests registered

 

Description: http://adcexe.eurocredit.it/ReportHtml/Verde.gif

Marian

Ivo

 

Description: http://adcexe.eurocredit.it/ReportHtml/Vuoto.gif

Born in Cessalto

(TV)

on 30/01/1958

- Fiscal Code : MRNVIO58A30C580D

 

Description: http://adcexe.eurocredit.it/ReportHtml/Vuoto.gif

Residence:

G. Bortolazzi

, 61/2

- 30027

San Dona' di Piave

(VE)

- IT -

 

Position

Since

Shares Amount

% Ownership

Procurator

07/02/2011

 

Description: http://adcexe.eurocredit.it/ReportHtml/Vuoto.gif

No Prejudicial events are reported

 

Description: http://adcexe.eurocredit.it/ReportHtml/Vuoto.gif

No Protests registered

 

Description: http://adcexe.eurocredit.it/ReportHtml/Verde.gif

Cracco

Paolo

 

Description: http://adcexe.eurocredit.it/ReportHtml/Vuoto.gif

Born in Valdagno

(VI)

on 12/04/1968

- Fiscal Code : CRCPLA68D12L551H

 

Description: http://adcexe.eurocredit.it/ReportHtml/Vuoto.gif

Residence:

Europa

, 15/6

- 31052

Maserada sul Piave

(TV)

- IT -

 

Position

Since

Shares Amount

% Ownership

Procurator

07/02/2011

 

Description: http://adcexe.eurocredit.it/ReportHtml/Vuoto.gif

No Prejudicial events are reported

 

Description: http://adcexe.eurocredit.it/ReportHtml/Vuoto.gif

No Protests registered

 

Description: http://adcexe.eurocredit.it/ReportHtml/Verde.gif

Falcon

Fabrizio

 

Description: http://adcexe.eurocredit.it/ReportHtml/Vuoto.gif

Born in Scorze'

(VE)

on 21/09/1961

- Fiscal Code : FLCFRZ61P21I551K

 

Description: http://adcexe.eurocredit.it/ReportHtml/Vuoto.gif

Residence:

Degli Alpini

, 4/1

- 31030

Breda di Piave

(TV)

- IT -

 

Position

Since

Shares Amount

% Ownership

Procurator

07/02/2011

 

Description: http://adcexe.eurocredit.it/ReportHtml/Vuoto.gif

No Prejudicial events are reported

 

Description: http://adcexe.eurocredit.it/ReportHtml/Vuoto.gif

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.

 

Description: http://adcexe.eurocredit.it/ReportHtml/Verde.gif

Monti

Giovanni

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

Societa' A Responsabilita' Limitata PerL Industria Ed Il Commercio Tessile S.i.

Masate (MI) - IT -

00861380152

Director

Withdrawn

Registered

Filatura Monti S.p.a.

Montebelluna (TV) - IT -

01141920262

Director

Withdrawn

Ceased

Filatura Monti S.p.a.

Montebelluna (TV) - IT -

01141920262

Managing Director

Withdrawn

Ceased

Gruppo Tessile Monti S.p.a.

Maserada sul Piave (TV) - IT -

00192050268

Director

Withdrawn

Registered

Gruppo Tessile Monti S.p.a.

Maserada sul Piave (TV) - IT -

00192050268

Director

Withdrawn

Registered

Gruppo Monti S.p.a.

Maserada sul Piave (TV) - IT -

01218060265

Director

Withdrawn

Registered

Centro Lino Italiano Consorzio Promozionale Prodotti Di Lino

Milano (MI) - IT -

11085400155

Baord of Directors' member

Withdrawn

Registered

Immobiliare Gruppo Monti S.r.l.

Maserada sul Piave (TV) - IT -

04024610265

Director

Withdrawn

Registered

Fratelli Monti Tenuta Agricola E VallivaGrassabo'

Iesolo (VE) - IT -

00286880273

Partner

Withdrawn

Ceased

LAVAREDO S.N.C. DI GIANNI MONTI E C.

Treviso (TV) - IT -

01675850265

Partner

Withdrawn

Registered

Immobiliare Tessitura Monti S.r.l.

Maserada sul Piave (TV) - IT -

03869340269

Director

Withdrawn

Ceased

Textile Trading Company S.r.l.

Treviso (TV) - IT -

04561370265

Director

Active

Registered

 

Description: http://adcexe.eurocredit.it/ReportHtml/Verde.gif

Belenghi

Luca

 

Firm's Style

Seat

Fiscal Code

Position

Position Status

Firm's Status

Societa' A Responsabilita' Limitata PerL Industria Ed Il Commercio Tessile S.i.

Masate (MI) - IT -

00861380152

Managing Director

Withdrawn

Registered

Societa' A Responsabilita' Limitata PerL Industria Ed Il Commercio Tessile S.i.

Masate (MI) - IT -

00861380152

Director

Withdrawn

Registered

Gruppo Tessile Monti S.p.a.

Maserada sul Piave (TV) - IT -

00192050268

Managing Director

Active

Registered

Gruppo Tessile Monti S.p.a.

Maserada sul Piave (TV) - IT -

00192050268

Director

Active

Registered

Mantero Seta-s.p.a

Como (CO) - IT -

02387120138

Director

Withdrawn

Registered

Nautor Holding S.r.l.

Firenze (FI) - IT -

04886740481

Director

Active

Registered

Marina Management S.r.l.

Scarlino (GR) - IT -

05434950480

Director

Withdrawn

Registered

Marina Management S.r.l.

Scarlino (GR) - IT -

05434950480

Board Chairman

Withdrawn

Registered

Pisa Superyachts - Societa' Per Azioni

Pisa (PI) - IT -

05686130484

Director

Withdrawn

Registered

Harbour S.r.l.

Firenze (FI) - IT -

05799560486

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

Gruppo Tessile Monti S.p.a.

Maserada sul Piave - IT -

00192050268

100,00



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

Immobiliare Grassabo' S.r.l.

Maserada sul Piave - IT -

00641930276

9.988.000 .Eur

49,94

Active

Consorzio A Due S.C.R.L.

11496300150

4.000.000 .Eur

20,00

Active

 

 

Firm's location and structure

 

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

 

-

Legal and operative seat

(Factory)

since 01/01/1980

 

Saltore

, Loc: VARAGO

- 31052

- Maserada sul Piave

(TV)

- IT -

 

Total Surface: 158 Sq.mt.

 

PHONE

: 0422877250

 

PHONE

: 04227291

 

Legal mail

: TESSITURAMONTI@PEC.MONTI.IT

 

Employees

: 308

 

Fittings and Equipment for a value of 2.320.000

Eur

 

Stocks for a value of 24.790.000

Eur

 

Furniture and fittings for a value of 1.200.000

Eur

 

Vehicles for a value of 560.000

Eur

 

 

Historical Information and/or Firm's Status

 

CEASINGS/INCORPORATIONS/MERGES:

 

Description: http://adcexe.eurocredit.it/ReportHtml/Verde.gif

Splitting-up project and setting-up of new co

 

Description: http://adcexe.eurocredit.it/ReportHtml/Vuoto.gif

Date

Merging/Splitting-up Project-New Company:

22/09/2003

 

Description: http://adcexe.eurocredit.it/ReportHtml/Verde.gif

Splitting-up and setting-up of a new company

 

Description: http://adcexe.eurocredit.it/ReportHtml/Vuoto.gifIMMOBILIARE TESSITURA MONTI S.R.L.

 

Description: http://adcexe.eurocredit.it/ReportHtml/Vuoto.gif

, Maserada Sul Piave Fraz.varago

(TV)

- IT -

 

Description: http://adcexe.eurocredit.it/ReportHtml/Vuoto.gif

Date

Splitting-up:

09/02/2004

 

Description: http://adcexe.eurocredit.it/ReportHtml/Verde.gif

Project of merging by taking over of

 

Description: http://adcexe.eurocredit.it/ReportHtml/Vuoto.gifImmobiliare Tessitura Monti S.r.l.

 

Description: http://adcexe.eurocredit.it/ReportHtml/Vuoto.gif

Saltore

, 10

, 31052

, Maserada sul Piave

(TV)

- IT -

 

Description: http://adcexe.eurocredit.it/ReportHtml/Vuoto.gif

Fiscal Code: 03869340269

 

Description: http://adcexe.eurocredit.it/ReportHtml/Vuoto.gif

Date

Merging/splitting-up project:

25/08/2008

 

Description: http://adcexe.eurocredit.it/ReportHtml/Verde.gif

The firm absorbed by merging of

 

Description: http://adcexe.eurocredit.it/ReportHtml/Vuoto.gifImmobiliare Tessitura Monti S.r.l.

 

Description: http://adcexe.eurocredit.it/ReportHtml/Vuoto.gif

Saltore

, 10

, 31052

, Maserada sul Piave

(TV)

- IT -

 

Description: http://adcexe.eurocredit.it/ReportHtml/Vuoto.gif

Fiscal Code: 03869340269

 

Description: http://adcexe.eurocredit.it/ReportHtml/Vuoto.gif

Date

:

29/09/2008

 

Description: http://adcexe.eurocredit.it/ReportHtml/Verde.gif

Resolution of merging of

 

Description: http://adcexe.eurocredit.it/ReportHtml/Vuoto.gifImmobiliare Tessitura Monti S.r.l.

 

Description: http://adcexe.eurocredit.it/ReportHtml/Vuoto.gif

Saltore

, 10

, 31052

, Maserada sul Piave

(TV)

- IT -

 

Description: http://adcexe.eurocredit.it/ReportHtml/Vuoto.gif

Fiscal Code: 03869340269

 

Description: http://adcexe.eurocredit.it/ReportHtml/Vuoto.gif

Date

:

29/09/2008

 

Description: http://adcexe.eurocredit.it/ReportHtml/Verde.gif

Project of merging by taking over of

 

Description: http://adcexe.eurocredit.it/ReportHtml/Vuoto.gifSocieta' A Responsabilita' Limitata PerL Industria Ed Il Commercio Tessile S.i.

 

Description: http://adcexe.eurocredit.it/ReportHtml/Vuoto.gif

Risorgimento

, 0002

, 20060

, Masate

(MI)

- IT -

 

Description: http://adcexe.eurocredit.it/ReportHtml/Vuoto.gif

Fiscal Code: 00861380152

 

Description: http://adcexe.eurocredit.it/ReportHtml/Vuoto.gif

Date

Merging/splitting-up project:

26/02/2016

 

Description: http://adcexe.eurocredit.it/ReportHtml/Verde.gif

Resolution of merging of

 

Description: http://adcexe.eurocredit.it/ReportHtml/Vuoto.gifSocieta' A Responsabilita' Limitata PerL Industria Ed Il Commercio Tessile S.i.

 

Description: http://adcexe.eurocredit.it/ReportHtml/Vuoto.gif

Risorgimento

, 0002

, 20060

, Masate

(MI)

- IT -

 

Description: http://adcexe.eurocredit.it/ReportHtml/Vuoto.gif

Fiscal Code: 00861380152

 

Description: http://adcexe.eurocredit.it/ReportHtml/Vuoto.gif

Date

:

11/03/2016

 

Description: http://adcexe.eurocredit.it/ReportHtml/Verde.gif

Resolution of merging of

 

Description: http://adcexe.eurocredit.it/ReportHtml/Vuoto.gifSocieta' A Responsabilita' Limitata PerL Industria Ed Il Commercio Tessile S.i.

 

Description: http://adcexe.eurocredit.it/ReportHtml/Vuoto.gif

Risorgimento

, 0002

, 20060

, Masate

(MI)

- IT -

 

Description: http://adcexe.eurocredit.it/ReportHtml/Vuoto.gif

Fiscal Code: 00861380152

 

Description: http://adcexe.eurocredit.it/ReportHtml/Vuoto.gif

Date

:

16/06/2016

 

Description: http://adcexe.eurocredit.it/ReportHtml/Verde.gif

Project of merging by taking over of

 

Description: http://adcexe.eurocredit.it/ReportHtml/Vuoto.gifGruppo Tessile Monti S.p.a.

 

Description: http://adcexe.eurocredit.it/ReportHtml/Vuoto.gif

Saltore

, 10

, 31052

, Maserada sul Piave

(TV)

- IT -

 

Description: http://adcexe.eurocredit.it/ReportHtml/Vuoto.gif

Fiscal Code: 00192050268

 

Description: http://adcexe.eurocredit.it/ReportHtml/Vuoto.gif

Date

Merging/splitting-up project:

13/10/2017



Protests

 

Protests checking on the subject firm has given a negative result.


Data Base Prejudicial Events Search

 

Search performed on a National Scale

 

Description: http://adcexe.eurocredit.it/ReportHtml/Verde.gif

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

MASERADA SUL PIAVE (TV)

Land

3

23/11/2017

 

Land Details

 

Cadastre

Title

Location

Sheet No.

Particle No.

Sub No.

Category

Class

Consistence

Cadastrial Rent

Part No.

L

Proprieta' per 1000/1000

MASERADA SUL PIAVE (TV)

36

119

MODELLO 26

(*) R.A. Euro: (*) R.A. Euro:

L

Proprieta' per 1000/1000

MASERADA SUL PIAVE (TV)

36

120

SEMIN ARBOR

2

13 are 68 ca

R.D.Euro:11,25 (*) R.A. Euro: 6,01

L

Proprieta' per 1000/1000

MASERADA SUL PIAVE (TV)

36

124

SEMINATIVO

3

16 are 18 ca

R.D.Euro:9,56 (*) R.A. Euro: 5,85

 

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 Data

 

Description: http://adcexe.eurocredit.it/ReportHtml/Verde.gif

Complete balance-sheet for the year

al 31/12/2015

(in Eur

x 1)

 

Item Type

Value

Sales

71.121.583

Profit (Loss) for the period

138.420

 

Description: http://adcexe.eurocredit.it/ReportHtml/Verde.gif

Complete balance-sheet for the year

al 31/12/2014

(in Eur

x 1)

 

Item Type

Value

Sales

71.872.531

Profit (Loss) for the period

-1.074.106

 

Description: http://adcexe.eurocredit.it/ReportHtml/Verde.gif

Complete balance-sheet for the year

al 31/12/2013

(in Eur

x 1)

 

Item Type

Value

Sales

75.059.247

Profit (Loss) for the period

-3.324.839

 

Description: http://adcexe.eurocredit.it/ReportHtml/Verde.gif

Complete balance-sheet for the year

al 31/12/2012

(in Eur

x 1)

 

Item Type

Value

Sales

78.762.437

Profit (Loss) for the period

-3.073.660

 

Description: http://adcexe.eurocredit.it/ReportHtml/Verde.gif

Complete balance-sheet for the year

al 31/12/2011

(in Eur

x 1)

 

Item Type

Value

Sales

84.017.757

Profit (Loss) for the period

-3.272.481



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 31/12/2015 - 12 Mesi - Currency: - Amounts x 1

 

- Balance Sheet as at 31/12/2014 - 12 Mesi - Currency: - Amounts x 1

 

- Balance Sheet as at 31/12/2013 - 12 Mesi - Currency: - Amounts x 1

 

Years

2015

2014

2013

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.

35.321

43.517

79.234

. . Goodwill

. . Assets in formation and advance paymen.

124.196

. . Other intangible fixed assets

329.111

361.654

393.475

. Total Intangible Fixed Assets

488.628

405.171

472.709

. TANGIBLE FIXED ASSETS

. . Real estate

. . Plant and machinery

2.278.060

2.713.345

3.395.339

. . Industrial and commercial equipment

42.533

60.790

73.033

. . Other assets

116.448

150.792

221.971

. . Assets under construction and advances

63.150

84.200

84.200

. Total Tangible fixed assets

2.500.191

3.009.127

3.774.543

. FINANCIAL FIXED ASSETS

. . Equity investments

8.019.944

8.820.944

4.694.944

. . . Equity invest. in subsidiary companies

8.019.920

8.820.920

. . . Equity invest. in associated companies

4.694.920

. . . Equity invest. in holding companies

. . . Equity invest. in other companies

24

24

24

. . Financial receivables

1.705.701

1.705.701

2.406.831

. . . . Within 12 months

1.700.000

1.700.000

2.400.000

. . . . Beyond 12 months

5.701

5.701

6.831

. . . Receivab due from subsidiaries

1.700.000

1.700.000

. . . . Within 12 months

1.700.000

1.700.000

. . . . Beyond 12 months

. . . Receivables due from assoc.comp.

2.400.000

. . . . Within 12 months

2.400.000

. . . . Beyond 12 months

. . . Receivables due from holding comp.

. . . . Within 12 months

. . . . Beyond 12 months

. . . Receivables due from third parties

5.701

5.701

6.831

. . . . Within 12 months

. . . . Beyond 12 months

5.701

5.701

6.831

. . Other securities

. . Own shares

. . . Total nominal value

. Total financial fixed assets

9.725.645

10.526.645

7.101.775

Total fixed assets

12.714.464

13.940.943

11.349.027

CURRENT ASSETS

. INVENTORIES

. . Raw materials and other consumables

2.966.492

2.167.443

2.523.895

. . Work in progress and semimanufactured

6.869.486

6.042.699

5.115.529

. . Work in progress on order

. . Finished goods

14.953.554

17.507.713

16.798.982

. . Advance payments

. Total Inventories

24.789.532

25.717.855

24.438.406

. CREDITS NOT HELD AS FIXED ASSETS

. . Within 12 months

30.694.951

29.913.867

32.476.914

. . Beyond 12 months

. . Trade receivables

18.590.718

18.115.189

19.336.015

. . . . Within 12 months

18.590.718

18.115.189

19.336.015

. . . . Beyond 12 months

. . Receivables due from subsid. comp.

5.562.420

6.739.755

. . . . Within 12 months

5.562.420

6.739.755

. . . . Beyond 12 months

. . Receivables due from assoc. comp.

8.606.355

. . . . Within 12 months

8.606.355

. . . . Beyond 12 months

. . Receivables due from holding comp.

365.924

24.306

20.608

. . . . Within 12 months

365.924

24.306

20.608

. . . . Beyond 12 months

. . Fiscal Receivables

173.057

21.013

59.534

. . . . Within 12 months

173.057

21.013

59.534

. . . . Beyond 12 months

. . Receivables for anticipated taxes

1.470.718

1.060.766

230.703

. . . . Within 12 months

1.470.718

1.060.766

230.703

. . . . Beyond 12 months

. . Receivables due from third parties

4.532.114

3.952.838

4.223.699

. . . . Within 12 months

4.532.114

3.952.838

4.223.699

. . . . Beyond 12 months

. Total Credits not held as fixed assets

30.694.951

29.913.867

32.476.914

. 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

341.395

424.005

554.154

. . Checks

. . Banknotes and coins

11.136

9.232

8.481

. Total Liquid funds

352.531

433.237

562.635

Total current assets

55.837.014

56.064.959

57.477.955

ADJUSTMENT ACCOUNTS

. Discount on loans

35.508

37.682

43.869

. Other adjustment accounts

Total adjustments accounts

35.508

37.682

43.869

TOTAL ASSETS

68.586.986

70.043.584

68.870.851

LIABILITIES

STOCKHOLDERS' EQUITY

. Capital stock

6.000.000

6.000.000

6.000.000

. Additional paid-in capital

. Revaluation reserves

. Legal reserve

. Reserve for Own shares

. Statute reserves

. Other reserves

-177.005

-386.999

1.452.777

. Accumulated Profits (Losses)

-1.715.929

-1.570.063

. Profit( loss) of the year

138.420

-145.866

-3.324.839

. Advances on dividends

. Partial loss of the year Coverage

Total Stockholders'Equity

4.245.486

3.897.072

4.127.938

RESERVES FOR RISKS AND CHARGES

. . Reserve for employee termination indem.

. . Taxation fund, also differed

13.967

18.306

37.607

. . Other funds

1.097.592

1.152.814

1.047.905

Total Reserves for Risks and Charges

1.111.559

1.171.120

1.085.512

Employee termination indemnities

4.942.176

5.040.750

5.048.316

ACCOUNTS PAYABLE

. . . . Within 12 months

54.077.045

59.840.920

54.243.219

. . . . Beyond 12 months

4.146.599

4.276.681

. . Bonds

. . . . Within 12 months

. . . . Beyond 12 months

. . Convertible bonds repayable

. . . . Within 12 months

. . . . Beyond 12 months

. . Due to shareholders for financing

. . . . Within 12 months

. . . . Beyond 12 months

. . Due to banks

33.665.394

31.972.201

33.211.297

. . . . Within 12 months

29.518.795

31.972.201

28.934.616

. . . . Beyond 12 months

4.146.599

4.276.681

. . Due to other providers of finance

. . . . Within 12 months

. . . . Beyond 12 months

. . Advances from customers

5.419

5.419

. . . . Within 12 months

5.419

5.419

. . . . Beyond 12 months

. . Trade payables

6.247.597

6.096.189

6.842.802

. . . . Within 12 months

6.247.597

6.096.189

6.842.802

. . . . Beyond 12 months

. . Securities issued

. . . . Within 12 months

. . . . Beyond 12 months

. . Due to subsidiary companies

3.760.045

5.876.803

. . . . Within 12 months

3.760.045

5.876.803

. . . . Beyond 12 months

. . Due to associated companies

7.382.151

. . . . Within 12 months

7.382.151

. . . . Beyond 12 months

. . Due to holding companies

1.550.266

4.936.597

549.094

. . . . Within 12 months

1.550.266

4.936.597

549.094

. . . . Beyond 12 months

. . Due to the tax authorities

148.696

9.371

. . . . Within 12 months

148.696

9.371

. . . . Beyond 12 months

. . Due to social security and welfare inst.

1.057.667

830.562

946.583

. . . . Within 12 months

1.057.667

830.562

946.583

. . . . Beyond 12 months

. . Other payables

11.793.979

10.113.778

9.582.554

. . . . Within 12 months

11.793.979

10.113.778

9.582.554

. . . . Beyond 12 months

Total accounts payable

58.223.644

59.840.920

58.519.900

ADJUSTMENT ACCOUNTS

. Agio on loans

. Other adjustment accounts

64.121

93.722

89.185

Total adjustment accounts

64.121

93.722

89.185

TOTAL LIABILITIES

68.586.986

70.043.584

68.870.851

 

MEMORANDUM ACCOUNTS

 

Third party goods

Investment accounts

Risk accounts

5.382.711

5.255.190

5.057.145

Civil and fiscal norms relation

 

PROFIT AND LOSS ACCOUNTS

 

VALUE OF PRODUCTION

. Revenues from sales and services

71.121.583

71.872.531

75.059.247

. Changes in work in progress

-1.727.371

927.170

-430.611

. Changes in semi-manufact. products

708.731

. Capitalization of internal work

147.715

. Other income and revenues

680.691

272.685

379.851

. . Contributions for operating expenses

. . Different income and revenues

680.691

272.685

379.851

Total value of production

70.222.618

73.781.117

75.008.487

PRODUCTION COSTS

. Raw material,other materials and consum.

43.823.116

47.623.492

50.490.535

. Services received

. Leases and rentals

12.348.029

12.076.807

12.697.672

. Payroll and related costs

11.730.215

11.673.353

11.479.644

. . Wages and salaries

8.297.775

8.351.006

8.126.386

. . Social security contributions

2.788.838

2.656.548

2.630.328

. . Employee termination indemnities

639.770

659.613

713.401

. . Pension and similar

. . Other costs

3.832

6.186

9.529

. Amortization and depreciation

913.569

1.271.243

1.095.379

. . Amortization of intangible fixed assets

213.924

227.307

219.832

. . Amortization of tangible fixed assets

550.507

598.924

676.062

. . Depreciation of tangible fixed assets

21.050

. . Writedown of current receiv.and of liquid

128.088

445.012

199.485

. Changes in raw materials

-799.049

356.452

618.969

. Provisions to risk reserves

. Other provisions

45.238

30.000

. Other operating costs

42.651

232.971

148.046

Total production costs

68.103.769

73.264.318

76.530.245

Diff. between value and cost of product.

2.118.849

516.799

-1.521.758

FINANCIAL INCOME AND EXPENSE

. Income from equity investments

. . In subsidiary companies

. . In associated companies

. . In other companies

. Other financial income

160.580

244.030

133.655

. . Financ.income from receivables

60.326

70.049

85.760

. . . Towards subsidiary companies

60.326

70.049

. . . Towards associated companies

85.760

. . . 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

100.254

173.981

47.895

. . . - Subsidiary companies

. . . - Associated companies

. . . - Holding companies

. . . - Other companies

100.254

173.981

47.895

. Interest and other financial expense

-1.159.133

-967.926

-1.078.485

. . Towards subsidiary companies

. . Towards associated companies

. . Towards holding companies

-52.274

-30.968

. . Towards other companies

-1.106.859

-967.926

1.078.485

Total financial income and expense

-998.553

-723.896

-944.830

ADJUSTMENTS TO FINANCIAL ASSETS

. Revaluations

. . Of equity investments

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

. . Of securities incl.among current assets

. Devaluation

-1.011.000

-193.000

-60.000

. . Of equity investments

-1.011.000

-193.000

-60.000

. . Of financial fixed assets (no equity inv)

. . Of securities included among current ass

Total adjustments to financial assets

-1.011.000

-193.000

-60.000

EXTRAORDINARY INCOME AND EXPENSE

. Extraordinary income

22.051

106.701

43.591

. . Gains on disposals

. . Other extraordinary income

22.051

106.701

43.591

. Extraordinary expense

-53.041

-316.590

-390.672

. . Losses on disposals

. . Taxes relating to prior years

. . Other extraordinary expense

-53.041

-316.590

-390.672

Total extraordinary income and expense

-30.990

-209.889

-347.081

Results before income taxes

78.306

-609.986

-2.873.669

. Taxes on current income

-60.114

464.120

451.170

. . current taxes

588.756

-471.924

515.183

. . differed taxes(anticip.)

640.192

-897.442

-64.013

. Net income for the period

138.420

-1.074.106

-3.324.839

. Adjustments in tax regulations pursuance

. Provisions in tax regulations pursuance

. Profit (loss) of the year

138.420

-1.074.106

-3.324.839

 

 

RATIOS

Value Type

as at 31/12/2015

as at 31/12/2014

as at 31/12/2013

Sector Average

COMPOSITION ON INVESTMENT

Rigidity Ratio

Units

0,19

0,20

0,16

0,29

Elasticity Ratio

Units

0,81

0,80

0,83

0,70

Availability of stock

Units

0,36

0,37

0,35

0,26

Total Liquidity Ratio

Units

0,45

0,43

0,48

0,39

Quick Ratio

Units

0,01

0,01

0,01

0,01

COMPOSITION ON SOURCE

Net Short-term indebtedness

Units

12,65

15,24

13,00

1,69

Self Financing Ratio

Units

0,06

0,06

0,06

0,29

Capital protection Ratio

Units

-0,45

-0,50

0,35

0,71

Liabilities consolidation quotient

Units

0,17

0,08

0,17

0,26

Financing

Units

13,71

15,36

14,18

2,12

Permanent Indebtedness Ratio

Units

0,19

0,13

0,20

0,45

M/L term Debts Ratio

Units

0,13

0,07

0,14

0,13

Net Financial Indebtedness Ratio

Units

7,85

8,09

7,91

0,96

CORRELATION

Fixed assets ratio

Units

1,05

0,64

1,19

1,38

Current ratio

Units

1,03

0,94

1,06

1,25

Acid Test Ratio-Liquidity Ratio

Units

0,57

0,51

0,61

0,75

Structure's primary quotient

Units

0,33

0,28

0,36

0,90

Treasury's primary quotient

Units

0,01

0,01

0,01

0,03

Rate of indebtedness ( Leverage )

%

1615,53

1797,34

1668,41

339,62

Current Capital ( net )

Value

1.759.969

-3.775.961

3.234.736

1.615.606

RETURN

Return on Sales

%

1,48

0,27

-2,97

1,74

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

%

3,26

-27,56

-80,54

0,25

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

%

1,84

-15,65

-69,62

2,94

Return on Investment ( R.O.I. )

%

3,09

0,74

-2,21

2,31

Return/ Sales

%

2,98

0,72

-2,03

2,50

Extra Management revenues/charges incid.

%

6,53

-207,84

n.c.

8,02

Cash Flow

Value

1.051.989

197.137

-2.229.460

210.372

Operating Profit

Value

2.118.849

516.799

-1.521.758

359.192

Gross Operating Margin

Value

3.077.656

1.818.042

-426.379

692.382

MANAGEMENT

Credits to clients average term

Days

94,10

90,74

92,74

111,18

Debts to suppliers average term

Days

74,07

101,97

84,17

104,44

Average stock waiting period

Days

125,48

128,82

117,21

86,89

Rate of capital employed return ( Turnover )

Units

1,04

1,03

1,09

1,04

Rate of stock return

Units

2,87

2,79

3,07

4,12

Labour cost incidence

%

16,49

16,24

15,29

15,12

Net financial revenues/ charges incidence

%

-1,40

-1,01

-1,26

-2,07

Labour cost on purchasing expenses

%

17,22

15,93

15,00

14,82

Short-term financing charges

%

1,99

1,62

1,84

3,48

Capital on hand

%

96,44

97,46

91,76

95,83

Sales pro employee

Value

194.321

197.452

209.662

237.592

Labour cost pro employee

Value

32.049

32.069

32.066

33.432

 

 

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

:

Description: http://adcexe.eurocredit.it/ReportHtml/Spazio.gif838.732

Population living in the region

:

Description: http://adcexe.eurocredit.it/ReportHtml/Spazio.gif4.699.950

Number of families in the region

:

Description: http://adcexe.eurocredit.it/ReportHtml/Spazio.gif1.813.210

 

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

 

- per food products

:

Description: http://adcexe.eurocredit.it/ReportHtml/Spazio.gif456

- per non food products

:

Description: http://adcexe.eurocredit.it/ReportHtml/Spazio.gif2.052

- per energy consume

:

Description: http://adcexe.eurocredit.it/ReportHtml/Spazio.gif127



Statistical Detrimental Data

 

Statistically the trade activity passes through serious crises.

The area is statistically considered lowly risky.

In the region 13.782 protested subjects are found; in the province they count to 2.280.

The insolvency index for the region is 0,30, , while for the province it is 0,28.

Total Bankrupt companies in the province : 3.317.

Total Bankrupt companies in the region : 16.714.

 


 

FOREIGN EXCHANGE RATES

 

Currency

Unit

Indian Rupees

US Dollar

1

INR 63.91

UK Pound

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 :

NIY

 

 

Report Prepared by :

SYL

                                                


 

RATING EXPLANATIONS

 

Credit Rating

 

Explanation

Rating Comments

A++

Minimum Risk

Business dealings permissible with minimum risk of default

A+

Low Risk

Business dealings permissible with low risk of default

A

Acceptable Risk

Business dealings permissible with moderate risk of default

B

Medium Risk

Business dealings permissible on a regular monitoring basis

C

Medium High Risk

Business dealings permissible preferably on secured basis

D

High Risk

Business dealing not recommended or on secured terms only

NB

New Business

No recommendation can be done due to business in infancy stage

NT

No Trace

No recommendation can be done as the business is not traceable

 

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors are as follows:

 

·         Financial condition covering various ratios

·         Company background and operations size

·         Promoters / Management background

·         Payment record

·         Litigation against the subject

·         Industry scenario / competitor analysis

·         Supplier / Customer / Banker review (wherever available)

 

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.