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MIRA INFORM REPORT
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Report No. : |
493002 |
|
Report Date : |
24.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
VERGALLI
ACCIAI S.R.L. |
|
|
|
|
Registered Office : |
Via Amendola, 18 Felegara, 43014 – Medesano (PR) |
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Country : |
Italy |
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Financials (as on) : |
31.12.2016 |
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Date of Incorporation : |
15.12.1993 |
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|
|
Legal Form : |
Limited Liability Company |
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|
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Line of Business : |
Wholesale of Metals and Metalliferous
Minerals. |
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|
|
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No. of Employees : |
6 to 10 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A+ |
|
Credit Rating |
Explanation |
Rating Comments |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
Italy |
A1 |
A1 |
|
Risk Category |
ECGC Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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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. 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 2017 growth accelerated to 1.5% of GDP. In 2017, overall unemployment was 11.4%, but youth unemployment remained high at 37.1%.
|
Source
: CIA |
COMPANY
NAME AND ADDRESS
VERGALLI ACCIAI S.R.L.
Via Amendola, 18 FELEGARA
43014 – Medesano (PR) -IT-
Summary
|
Fiscal Code |
: |
01849880347 |
|
Legal Form |
: |
Limited liability company |
|
start of Activities |
: |
14/04/1994 |
|
Equity |
: |
2.500.000 |
|
Turnover Range |
: |
3.750.000/5.000.000 |
|
Number of Employees |
: |
fom 6 to 10 |
Activity
Wholesale of metals and
metalliferous minerals
Legal
Data
Legal Form : Limited liability
company
|
Fiscal Code : 01849880347 |
|
Chamber of Commerce no. : 183146 of
Parma since 14/02/1994 |
|
V.A.T. Code : 01849880347 |
|
R. E. C. no. : 31230 of Parma
since 14/04/1994 |
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Establishment date |
: 15/12/1993 |
|
Start of Activities |
: 14/04/1994 |
|
Legal duration |
: 31/12/2030 |
|
Nominal Capital |
: 10.400 |
|
Subscribed Capital |
: 10.400 |
|
Paid up Capital |
: 10.400 |
|
Legal mail : |
Members
|
|
Vergalli |
Maria |
|
|
Born in Medesano |
(PR) |
on 03/09/1958 |
- Fiscal Code : VRGMRA58P43F082M |
|
|
Residence: |
G. La Pira |
, 14/F |
- 43014 |
Medesano |
(PR) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Board Chairman |
02/05/2017 |
||
|
Director |
02/05/2017 |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Hiltbrunner |
Patrick |
|
|
Born in Saint Croix |
( ) |
on 29/08/1961 |
- Fiscal Code : HLTPRC61M29Z133D |
|
|
Residence: |
G. La Pira |
, 14/F |
- 43014 |
Medesano |
(PR) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Managing Director |
02/05/2017 |
||
|
Director |
02/05/2017 |
|
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No Prejudicial events are reported |
|
|
No Protests registered |
Companies
connected to members *
*checkings have been performed on a
national scale.
In this module the companies in which
members hold/held positions are listed.
The Members of the subject firm are
not reported to be Members in other companies.
Capital
Shareholders
Shareholders' list as at date of
data collection:
|
Firm's Style / Name |
Seat / Residence |
Fiscal Code |
Owned Shares |
% Ownership |
|
Vergalli Maria |
Medesano - IT - |
VRGMRA58P43F082M |
9.360 .Eur |
90,00 |
|
Hiltbrunner Patrick |
Medesano - IT - |
HLTPRC61M29Z133D |
1.040 .Eur |
10,00 |
Direct
Participations
The Company under review has no participations
in other Companies.
Firm's
location and structure
In order to carry out its activities
the firm uses the following locations:
|
- |
Legal and operative seat |
|
Amendola |
, 18 |
- 43014 |
- Medesano |
(PR) |
- IT - |
|
PHONE |
: 0525431675 |
|
FAX |
: 0525430788 |
|
Legal mail |
: VERGALLIACCIAI@PEC.IT |
|
Employees |
: 5 |
|
Assistants |
: 1 |
|
Fittings and Equipment for a value
of 130.000 |
Eur |
|
Stocks for a value of 1.450.000 |
Eur |
Protests
Protests checking on the subject
firm has given a negative result.
Data
Base Prejudicial Events Search
Search performed on a National Scale
|
|
Prejudicial Events Search Result:
NEGATIVE |
Search performed on a specialized
data base.
Legal
Procedures
None reported, standing to the latest
received edition of the Official Publications.
National
Real Estates Survey
The firm under review, by the
reported percentages, owns the following real estates:
|
Town |
Cadastre |
No. Immovables |
Up to Date |
|
MEDESANO (PR) |
Land |
2 |
14/02/2018 |
Land
Details
|
|
Cadastre |
Title |
Location |
Sheet No. |
Particle No. |
Sub No. |
Category |
Class |
Consistence |
Cadastrial Rent |
Part No. |
|
L |
Proprieta' per 1/1 |
MEDESANO (PR) |
55 |
722 |
SEMINATIVO |
1 |
27 are 83 ca |
R.D.Euro:19,40 R.A. Euro: 23,00 |
||
|
L |
Proprieta' per 1/1 |
MEDESANO (PR) |
55 |
728 |
BOSCO CEDUO |
1 |
27 are 83 ca |
R.D.Euro:4,31 R.A. Euro: 0,86 |
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 1994.
The analysis is based on the latest
3 balance sheets.
During the last years, it recorded
positive net results (r.o.e. 6,34% in 2016) with a stable trend in the
turnover.
The operating result was positive in
the last financial year (5,65%) and in line with the sector's average.
The amount of the operating result for
the year 2016 is of Eur. 215.345 , with no sizeable change as opposed to the
year before.
During the latest financial year the
gross operating margin amounted to Eur. 276.125 with no sensible increase as
against 2015.
Very good financial situation: shareholder's
equity covers short-terms debts with an indebtedness level equal to 0,36 which
is yet rising if compared to 2015.
It's shareholders funds amount to
Eur. 2.326.177 , unchanged as opposed to the preceding year.
Total debts (both short and M/L term)
equals Eur. 1.280.221, on the same levels as the year before.
Current liquid assets is positive.
The financial management generated a
cash flow of Eur. 208.344.
Labour cost amounts to Eur. 182.363,
with a 4,95% incidence on production costs. and a 4,73% incidence on sales
volumes.
The incidence of the financial
charges is of -0,02% on the sales amount.
Financial
Data
|
|
Complete balance-sheet for the
year |
al 31/12/2016 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
3.852.980 |
|
Profit (Loss) for the period |
147.564 |
|
|
Complete balance-sheet for the
year |
al 31/12/2015 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
3.757.309 |
|
Profit (Loss) for the period |
143.187 |
|
|
Complete balance-sheet for the
year |
al 31/12/2014 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
2.937.622 |
|
Profit (Loss) for the period |
126.803 |
|
|
Complete balance-sheet for the
year |
al 31/12/2013 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
2.502.601 |
|
Profit (Loss) for the period |
60.328 |
|
|
Complete balance-sheet for the
year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
2.737.964 |
|
Profit (Loss) for the period |
82.290 |
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 |
0,16 |
0,17 |
0,16 |
0,11 |
|
Elasticity Ratio |
Units |
0,84 |
0,83 |
0,84 |
0,87 |
|
Availability of stock |
Units |
0,38 |
0,42 |
0,50 |
0,22 |
|
Total Liquidity Ratio |
Units |
0,46 |
0,41 |
0,34 |
0,56 |
|
Quick Ratio |
Units |
0,11 |
0,09 |
0,01 |
0,02 |
|
COMPOSITION ON SOURCE |
|||||
|
Net Short-term indebtedness |
Units |
0,36 |
0,35 |
0,40 |
3,81 |
|
Self Financing Ratio |
Units |
0,61 |
0,63 |
0,67 |
0,17 |
|
Capital protection Ratio |
Units |
0,93 |
0,93 |
0,93 |
0,65 |
|
Liabilities consolidation quotient |
Units |
0,03 |
0,03 |
0,05 |
0,12 |
|
Financing |
Units |
0,55 |
0,49 |
0,42 |
4,72 |
|
Permanent Indebtedness Ratio |
Units |
0,62 |
0,64 |
0,68 |
0,30 |
|
M/L term Debts Ratio |
Units |
0,01 |
0,01 |
0,01 |
0,07 |
|
Net Financial Indebtedness Ratio |
Units |
n.c. |
0,00 |
0,00 |
1,28 |
|
CORRELATION |
|||||
|
Fixed assets ratio |
Units |
3,97 |
3,84 |
4,29 |
2,06 |
|
Current ratio |
Units |
2,51 |
2,66 |
3,02 |
1,16 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
1,37 |
1,32 |
1,23 |
0,84 |
|
Structure's primary quotient |
Units |
3,90 |
3,78 |
4,21 |
1,28 |
|
Treasury's primary quotient |
Units |
0,34 |
0,29 |
0,05 |
0,03 |
|
Rate of indebtedness ( Leverage ) |
% |
163,75 |
157,77 |
149,81 |
591,61 |
|
Current Capital ( net ) |
Value |
1.926.827 |
1.779.711 |
1.710.042 |
219.071 |
|
RETURN |
|||||
|
Return on Sales |
% |
5,41 |
5,22 |
5,61 |
2,22 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
6,34 |
6,57 |
6,23 |
6,27 |
|
Return on Equity - Gross - ( R.O.E.
) |
% |
9,22 |
9,73 |
9,69 |
15,95 |
|
Return on Investment ( R.O.I. ) |
% |
5,65 |
6,08 |
6,34 |
4,19 |
|
Return/ Sales |
% |
5,59 |
5,56 |
6,58 |
3,42 |
|
Extra Management revenues/charges
incid. |
% |
68,52 |
68,50 |
65,57 |
29,26 |
|
Cash Flow |
Value |
208.344 |
196.162 |
164.684 |
61.669 |
|
Operating Profit |
Value |
215.345 |
209.024 |
193.385 |
95.558 |
|
Gross Operating Margin |
Value |
276.125 |
261.999 |
231.266 |
144.934 |
|
MANAGEMENT |
|||||
|
Credits to clients average term |
Days |
n.c. |
95,61 |
117,22 |
120,94 |
|
Debts to suppliers average term |
Days |
n.c. |
99,39 |
81,28 |
120,04 |
|
Average stock waiting period |
Days |
135,79 |
137,76 |
186,02 |
61,92 |
|
Rate of capital employed return (
Turnover ) |
Units |
1,01 |
1,09 |
0,96 |
1,27 |
|
Rate of stock return |
Units |
2,65 |
2,61 |
1,94 |
5,74 |
|
Labour cost incidence |
% |
4,73 |
4,23 |
4,39 |
7,77 |
|
Net financial revenues/ charges
incidence |
% |
-0,02 |
0,00 |
-0,20 |
-1,26 |
|
Labour cost on purchasing expenses |
% |
4,95 |
4,44 |
4,62 |
7,90 |
|
Short-term financing charges |
% |
0,12 |
0,06 |
0,73 |
2,67 |
|
Capital on hand |
% |
98,86 |
91,48 |
103,80 |
78,39 |
|
Sales pro employee |
Value |
770.596 |
939.327 |
734.405 |
437.713 |
|
Labour cost pro employee |
Value |
36.472 |
39.750 |
32.204 |
33.928 |
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 |
: |
|
|
Population living in the region |
: |
|
|
Number of families in the region |
: |
|
Monthly family expences average in
the region (in Eur..) :
|
- per food products |
: |
|
|
- per non food products |
: |
|
|
- per energy consume |
: |
|
Sector
Data
The values are calculated on a base
of 6.137 significant companies.
The companies cash their credits on
an average of 121 dd.
The average duration of suppliers
debts is about 120 dd.
The sector's profitability is on an
average of 2,22%.
The labour cost affects the turnover
in the measure of 7,77%.
Goods are held in stock in a range
of 62 dd.
The difference between the sales
volume and the resources used to realize it is about 1,27.
The employees costs represent the
7,90% of the production costs.
Statistical Detrimental Data
Statistcally the trade activity
shows periods of crisis.
The area is statistically considered
lowly risky.
In the region 18.860 protested subjects
are found; in the province they count to 1.231.
The insolvency index for the region
is 0,46, , while for the province it is 0,31.
Total Bankrupt companies in the
province : 1.624.
Total Bankrupt companies in the
region : 14.698.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 64.82 |
|
|
1 |
INR 90.40 |
|
Euro |
1 |
INR 79.76 |
|
Euro |
1 |
INR 79.79 |
Note:
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NIT |
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.