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MIRA INFORM REPORT
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Report No. : |
484666 |
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Report Date : |
05.01.2018 |
IDENTIFICATION DETAILS
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Name : |
RICCARDO ORSATO SRL |
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Registered Office : |
Via A. De Gasperi, 18, 30033-
Noale (VE)-IT- |
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Country : |
Italy |
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Financials (as on) : |
31.12.2016 |
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Date of Incorporation : |
11.11.1998 |
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Legal Form : |
Sole-Member Limited Liability Company |
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Line of Business : |
Wholesale of clocks, watches and Jewellery. |
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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)
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MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Good |
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Payment Behaviour : |
Slow but Correct |
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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 (30.06.2017) |
Current Rating (30.09.2017) |
|
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 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. 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
Riccardo Orsato Srl
Via A. De Gasperi, 18
30033 - Noale (VE) -IT-
Summary
|
Fiscal Code |
: |
02714460249 |
|
Legal Form |
: |
Sole-Member Limited Liability Company |
|
start of Activities |
: |
21/01/1999 |
|
Equity |
: |
2.000.000 |
|
Turnover Range |
: |
10.000.000/12.750.000 |
|
Number of Employees |
: |
fom 6 to 10 |
Activity
Wholesale of clocks, watches and jewellery
Legal
Data
Legal Form : Sole-Member Limited Liability Company
|
Fiscal Code : 02714460249 |
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Foreign Trade Reg. no. : VI047931 since 27/09/1999 |
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Chamber of Commerce no. : 353916 of Venezia since
02/05/2012 |
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Chamber of Commerce no. : 269284 of Vicenza since
30/12/1998 |
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Firms' Register : VI-1999-754 of Vicenza since 13/01/1999 |
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V.A.T. Code : 02714460249 |
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Establishment date |
: 11/11/1998 |
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|
Start of Activities |
: 21/01/1999 |
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|
Legal duration |
: 31/12/2050 |
|
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Nominal Capital |
: 1.000.000 |
|
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Subscribed Capital |
: 1.000.000 |
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Paid up Capital |
: 1.000.000 |
|
Legal mail : |
AMMINISTRAZIONE@PEC.ORSATO.IT |
Members
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|
Pasquini |
Maria Angela |
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Born in Bolzano |
(BZ) |
on 28/08/1954 |
- Fiscal Code : PSQMNG54M68A952A |
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Residence: |
Castello D' Amore |
, 27 |
- 31100 |
Treviso |
(TV) |
- IT - |
|
Position |
Since |
Shares
Amount |
%
Ownership |
|
Auditor |
07/05/2016 |
|
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Orsato |
Riccardo |
|
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Born in Marostica |
(VI) |
on 19/06/1963 |
- Fiscal Code : RSTRCR63H19E970N |
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Residence: |
Ronchi |
, 19 |
- 30037 |
Scorze' |
(VE) |
- IT - |
|
Position |
Since |
Shares
Amount |
%
Ownership |
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Board Chairman |
19/04/2012 |
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Director |
19/04/2012 |
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Sole partner |
|||
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Managing Director |
02/05/2012 |
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No Prejudicial events are reported |
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No Protests registered |
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Silvestri |
Ursula |
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Born in Asolo |
(TV) |
on 07/05/1971 |
- Fiscal Code : SLVRSL71E47A471H |
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Residence: |
Ronchi |
, 19 |
- 30037 |
Scorze' |
(VE) |
- IT - |
|
Position |
Since |
Shares
Amount |
%
Ownership |
|
Director |
19/04/2012 |
||
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Managing Director |
02/05/2012 |
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No Prejudicial events are reported |
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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 |
|
Orsato Riccardo |
Scorze' - IT - |
RSTRCR63H19E970N |
100,00 |
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 |
|
A. De Gasperi |
, 18 |
- 30033 |
- Noale |
(VE) |
- IT - |
|
PHONE |
: 041 5802398 |
|
Legal mail |
: AMMINISTRAZIONE@PEC.ORSATO.IT |
|
- |
Office not registered |
|
Vecchia Ferriera Int.48 |
, 70 |
- 36100 |
- Vicenza |
(VI) |
- IT - |
|
- |
Branch |
(office) |
since 30/01/2014 |
|
De Gasperi |
, 16 INT.4 |
- 30033 |
- Noale |
(VE) |
- IT - |
|
Employees |
: 7 |
|
Assistants |
: 1 |
|
Fittings and Equipment for a value of 89.000 |
Eur |
|
Stocks for a value of 3.670.000 |
Eur |
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 |
29/01/2001 |
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
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The requested subject is not present c/o the CADASTRE
OFFICES. |
All responsibilities are declined regarding any possible omissions
concerning the given results. Therefore, we advise to request for
"Hypothecating Survey Inspection" c/o the locally competent RR.II.
Immovables Registry, as this service doesn't fully guarantees the actual title
of the Real Estates of the requested Subject.
Financial
and Economical Analysis
Subject is active since 1999
An eco-fin analysis has been made on the base od the b/s fo
the years 2014, 2015 and 2016.
During the last years, it achieved profits (r.o.e. 7,63% on
2016)
The operating result was positive in the last financial year
(3,2%) falling within the field's average.
The amount of the operating result for the year 2016 is of
Eur. 230.165 showing a downwards trend equal to -35,15% if compared to the
value of the financial year 2015.
A gross operating margine for a value of Eur. 376.063 was
reached. , with a -23,86% decrease.
Company's financial status is balanced since indebtedness is
not high (2,6) but with an increase as against the previous accounting period.
Subject can manage an equity capital funds for an amount of
Eur. 1.617.840 on stable levels.
In the year 2016 total debts amounted to Eur. 5.500.114 ,
rising as opposed to the previous year (+63,94%).
Bank borrowings' volume is slightly high but the recourse to
suppliers' credit is modest below the sector's average.
Payments are supported by good current assets.
Credits are collected in 87,11 days on the average. , a
value lower than the sector's average.
2016 financial year closed with a cash flow of Eur. 269.268
In the last financial year labour cost was of Eur. 300.325,
with a 2,68% incidence on total costs of production. , with a 2,71% incidence
on turnover.
The incidence of the financial charges is of -0,17% on the
sales amount.
Financial
Data
|
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Complete balance-sheet for the year |
al 31/12/2016 |
(in Eur |
x 1) |
|
Item Type |
Value |
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Sales |
11.101.121 |
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Profit (Loss) for the period |
123.370 |
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Complete balance-sheet for the year |
al 31/12/2015 |
(in Eur |
x 1) |
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Item Type |
Value |
|
Sales |
12.133.313 |
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Profit (Loss) for the period |
138.011 |
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Complete balance-sheet for the year |
al 31/12/2014 |
(in Eur |
x 1) |
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Item Type |
Value |
|
Sales |
9.872.206 |
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Profit (Loss) for the period |
50.280 |
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Complete balance-sheet for the year |
al 31/12/2013 |
(in Eur |
x 1) |
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Item Type |
Value |
|
Sales |
8.351.078 |
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Profit (Loss) for the period |
110.245 |
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Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
8.203.069 |
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Profit (Loss) for the period |
38.748 |
Financials
Balance Sheets
From our constant monitoring of the relevant Public
Administration offices, no more recent balance sheets result to have been
filed.
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- Balance Sheet as at 31/12/2016 - 12 Mesi - Currency: -
Amounts x 1 |
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- Balance Sheet as at 31/12/2015 - 12 Mesi - Currency: -
Amounts x 1 |
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- 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 |
0,03 |
0,07 |
0,09 |
0,09 |
|
Elasticity Ratio |
Units |
0,96 |
0,93 |
0,90 |
0,89 |
|
Availability of stock |
Units |
0,51 |
0,56 |
0,58 |
0,26 |
|
Total Liquidity Ratio |
Units |
0,45 |
0,37 |
0,32 |
0,54 |
|
Quick Ratio |
Units |
0,06 |
0,04 |
0,01 |
0,03 |
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COMPOSITION
ON SOURCE |
|||||
|
Net Short-term indebtedness |
Units |
2,60 |
1,71 |
1,91 |
3,95 |
|
Self Financing Ratio |
Units |
0,22 |
0,31 |
0,31 |
0,17 |
|
Capital protection Ratio |
Units |
0,31 |
0,26 |
0,25 |
0,62 |
|
Liabilities consolidation quotient |
Units |
0,20 |
0,19 |
0,14 |
0,10 |
|
Financing |
Units |
3,40 |
2,17 |
2,19 |
4,85 |
|
Permanent Indebtedness Ratio |
Units |
0,35 |
0,42 |
0,39 |
0,29 |
|
M/L term Debts Ratio |
Units |
0,13 |
0,11 |
0,08 |
0,07 |
|
Net Financial Indebtedness Ratio |
Units |
2,03 |
1,08 |
1,54 |
1,04 |
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CORRELATION |
|||||
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Fixed assets ratio |
Units |
12,84 |
6,25 |
4,15 |
2,37 |
|
Current ratio |
Units |
1,51 |
1,62 |
1,52 |
1,18 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
0,71 |
0,64 |
0,55 |
0,80 |
|
Structure's primary quotient |
Units |
8,16 |
4,65 |
3,28 |
1,48 |
|
Treasury's primary quotient |
Units |
0,09 |
0,07 |
0,01 |
0,04 |
|
Rate of indebtedness ( Leverage ) |
% |
444,84 |
321,21 |
325,92 |
602,26 |
|
Current Capital ( net ) |
Value |
2.331.162 |
1.754.977 |
1.411.617 |
191.984 |
|
RETURN |
|||||
|
Return on Sales |
% |
2,43 |
2,28 |
1,53 |
2,03 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
7,63 |
8,93 |
3,57 |
6,31 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
12,77 |
14,74 |
8,45 |
17,00 |
|
Return on Investment ( R.O.I. ) |
% |
3,20 |
7,15 |
7,38 |
4,18 |
|
Return/ Sales |
% |
2,07 |
2,93 |
3,43 |
3,46 |
|
Extra Management revenues/charges incid. |
% |
53,60 |
38,88 |
14,85 |
27,96 |
|
Cash Flow |
Value |
269.268 |
277.041 |
150.758 |
44.823 |
|
Operating Profit |
Value |
230.165 |
354.931 |
338.578 |
74.603 |
|
Gross Operating Margin |
Value |
376.063 |
493.961 |
439.056 |
111.383 |
|
MANAGEMENT |
|||||
|
Credits to clients average term |
Days |
87,11 |
42,16 |
41,16 |
113,70 |
|
Debts to suppliers average term |
Days |
52,34 |
7,63 |
9,88 |
118,14 |
|
Average stock waiting period |
Days |
119,00 |
82,21 |
96,56 |
72,90 |
|
Rate of capital employed return ( Turnover ) |
Units |
1,54 |
2,44 |
2,15 |
1,25 |
|
Rate of stock return |
Units |
3,03 |
4,38 |
3,73 |
4,88 |
|
Labour cost incidence |
% |
2,71 |
3,09 |
3,60 |
8,14 |
|
Net financial revenues/ charges incidence |
% |
-0,17 |
-0,88 |
-2,23 |
-1,38 |
|
Labour cost on purchasing expenses |
% |
2,68 |
3,06 |
3,76 |
8,25 |
|
Short-term financing charges |
% |
2,59 |
6,23 |
8,19 |
2,76 |
|
Capital on hand |
% |
64,83 |
40,90 |
46,45 |
79,85 |
|
Sales pro employee |
Value |
1.233.457 |
1.103.028 |
897.473 |
397.742 |
|
Labour cost pro employee |
Value |
33.369 |
34.084 |
32.310 |
33.267 |
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 9.175 significant companies.
The companies cash their credits on an average of 114 dd.
The average duration of suppliers debts is about 118 dd.
The sector's profitability is on an average of 2,03%.
The labour cost affects the turnover in the measure of
8,14%.
Goods are held in stock in a range of 73 dd.
The difference between the sales volume and the resources
used to realize it is about 1,25.
The employees costs represent the 8,25% 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 13.782 protested subjects are found; in the
province they count to 2.633.
The insolvency index for the region is 0,30, , while for the
province it is 0,32.
Total Bankrupt companies in the province : 2.924.
Total Bankrupt companies in the region : 16.714.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 63.39 |
|
|
1 |
INR 85.74 |
|
Euro |
1 |
INR 76.25 |
|
Euro |
1 |
INR 76.35 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
NIS |
|
|
|
|
Report Prepared
by : |
KET |
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.