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MIRA INFORM REPORT
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Report No. : |
485253 |
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Report Date : |
09.01.2018 |
IDENTIFICATION DETAILS
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Name : |
DE NITTIS MICHELE E C. SAS |
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Registered Office : |
Strada Sttale 89, Km.173+310 (z.i.), Zona Industriale,
71043- Manfredonia(FG)-IT |
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Country : |
Italy |
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Financials (as on) : |
31.12.2001 |
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Date of Incorporation : |
07.01.1982 |
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Legal Form : |
Limited partnership |
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Line of Business : |
·
Manufacture of footwear ·
Manufacture of leather articles for footwear ·
Retail sale of clothing in specialised stores |
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No. of Employees : |
From 16 to 25 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
C |
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Credit Rating |
Explanation |
Rating Comments |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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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) |
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Italy |
A1 |
A1 |
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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%.
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Source
: CIA |
Company
name and address
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De Nittis Michele E C. Sas |
|
Strada Statale |
89, Km.173+310 (z.i.), |
. Zona Industriale |
|
71043 |
- Manfredonia |
(FG) |
-IT- |
Summary
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Fiscal Code |
: |
01021310717 |
|
Legal Form |
: |
Limited partnership |
|
start of Activities |
: |
23/03/1982 |
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Turnover Range |
: |
3.000.000/3.750.000 |
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Number of Employees |
: |
from 16 to 25 |
Activity
Manufacture of footwear
Manufacture of leather articles for footwear
Retail sale of clothing in specialised stores
Legal Data
Legal Form : Limited partnership
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Fiscal Code : 01021310717 |
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Foreign Trade Reg. no. : FG000908 since
24/01/1992 |
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Chamber of Commerce no. : 129673 of Campobasso |
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Chamber of Commerce no. : 124148 of Foggia since
05/03/1982 |
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Firms' Register : FG024-5469 of Foggia since
19/02/1996 |
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V.A.T. Code : 01021310717 |
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Foundation date |
: 07/01/1982 |
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Establishment date |
: 07/01/1982 |
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Start of Activities |
: 23/03/1982 |
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Legal duration |
: 31/12/2003 |
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Nominal Capital |
: 103.400 |
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Subscribed Capital |
: 103.400 |
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Paid up Capital |
: 103.400 |
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Legal mail : |
DENITTIS@PEC.IT |
Members
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De Nittis |
Michele |
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Born in Manfredonia |
(FG) |
on 11/05/1952 |
- Fiscal Code : DNTMHL52E11E885N |
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Residence: |
Palatella |
, 31 |
- 71043 |
Manfredonia |
(FG) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
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General Partner |
54.802 - |
53,00 |
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No Prejudicial events are reported |
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No Protests registered |
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Piccoli |
Leonarda Antonia |
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Born in Manfredonia |
(FG) |
on 12/06/1952 |
- Fiscal Code : PCCLRD52H52E885O |
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Residence: |
Palatella |
, 31 |
- 71043 |
Manfredonia |
(FG) |
- IT - |
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Position |
Since |
Shares Amount |
% Ownership |
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Limited Partner |
07/01/1982 |
48.598 - |
47,00 |
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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 are listed the companies in which
members hold or have holded positions.
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|
De Nittis |
Michele |
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Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
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Calzaturificio Manfredonia Di La Torre MIchele E
C. S.a.s. |
Manfredonia (FG) - IT - |
01529830711 |
Partner |
Withdrawn |
Registered |
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Piccoli |
Leonarda Antonia |
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Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
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Copel Di Piccoli Leonarda Antonia E DeVita
Costanza S.n.c. |
Manfredonia (FG) - IT - |
01637980713 |
Partner |
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.
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 |
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Sveva Costruzioni Societa' A Responsabil Ita'
Limitata Siglabile In "sveva Costru |
Manfredonia - IT - |
03521220719 |
4.000 .Eur |
40,00 |
Active |
||
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Gruppo Guantificio Tarantino S.r.l |
Taranto - IT - |
02613900733 |
80.000 .Eur |
80,00 |
Active |
Firm's location and structure
In order to carry out its activities the firm uses
the following locations:
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- |
Legal and operative seat |
(Factory) |
since 21/12/1990 |
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89, Km.173+310 (z.i.) |
, . |
- 71043 |
- Manfredonia |
(FG) |
- IT - |
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PHONE |
: 0884542111 |
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Legal mail |
: DENITTIS@PEC.IT |
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- |
Branch |
since 12/11/2013 |
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Pantano Basso C/o Fiat |
, SN |
- 86039 |
- Termoli |
(CB) |
- IT - |
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Employees |
: 16 |
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Assistants |
: 1 |
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Fittings and Equipment for a value of 75.000 |
Eur |
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Stocks for a value of 930.000 |
Eur |
The firm has a direct commercial organization
Sales are on local and provincial scale
Transports are mainly done using own vehicles and
third parties ones
The company sells mainly to converting industries.
To purchase foreign products the firm uses the
following channels :
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- national or foreign important buyers |
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- distributors |
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- direct orders to foreign companies |
Purchase terms: 60-90-120 days.
Subject company generally settles its engagements
by issueing of
cheques and cash orders.
Import comes generally from the following nations:
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- Spain |
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- France |
Protests
Protests checking on the subject firm has given a
negative result.
Data Base Prejudicial Events
Search
Search performed on a National Scale
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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:
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Town |
Cadastre |
No. Immovables |
Up to Date |
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MANFREDONIA (FG) |
Buildings |
4 |
05/01/2018 |
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MANFREDONIA (FG) |
Land |
4 |
05/01/2018 |
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Buildings Details |
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Cadastre |
Title |
Location |
Sheet No. |
Particle No. |
Sub No. |
Categorie |
Classe |
Consistence |
Cadastrial Rent |
Part No. |
|
B |
Proprieta' per 1/1 |
MANFREDONIA (FG) VIA DA DENOMINARE, SNC Piano T-1 |
34 |
790 |
zona2 cat. D/7 |
Euro: 6.281,20 |
||||
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B |
Proprieta' per 1/1 |
MANFREDONIA (FG) VIA DA DENOMINARE, Piano 1 |
34 |
845 |
2 |
zona2 cat. A/3 |
3 |
5 vani |
Euro:271,14 |
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B |
Proprieta' per 1/1 |
MANFREDONIA (FG) ZONA INDUSTRIALE COMPARTO 4 LOTTO
I, Piano T-1 |
34 |
845 |
3 |
zona2 cat. D/1 |
Euro: 20.738,00 |
|||
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B |
Proprieta' per 1/1 |
MANFREDONIA (FG) LOCALITA' ISOLA DEGLI OLIVI DI
TORELLI, Piano S1-T |
41 |
168 |
1 |
zona2 cat. D/1 |
Euro: 5.162,90 |
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Land Details |
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Cadastre |
Title |
Location |
Sheet No. |
Particle No. |
Sub No. |
Category |
Class |
Consistence |
Cadastrial Rent |
Part No. |
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L |
Proprieta' per 1000/1000 |
MANFREDONIA (FG) |
34 |
842 |
PASCOLO |
2 |
74 ca |
R.D.Euro:0,13 R.A. Euro: 0,10 |
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L |
Proprieta' per 1000/1000 |
MANFREDONIA (FG) |
34 |
844 |
PASCOLO |
3 |
2 are 29 ca |
R.D.Euro:0,30 R.A. Euro: 0,18 |
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L |
Proprieta' per 1/1 |
MANFREDONIA (FG) |
34 |
977 |
PASCOLO |
2 |
1 are 89 ca |
R.D.Euro:0,34 R.A. Euro: 0,24 |
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L |
Proprieta' per 1/1 |
MANFREDONIA (FG) |
34 |
979 |
PASCOLO |
2 |
10 are 6 ca |
R.D.Euro:1,82 R.A. Euro: 1,30 |
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
1982.
Under an economic point of view, profits were
registered during the last years with a r.o.e. of 28,19% in 2001 with an
increase in 2001 (+14,78%).
The operating result in 2001 was positive (9,04%)
and in line with the sector's average.
The analysis shows a fair financial position as the
indebtedness volume is acceptable (3,44) and decreasing as against 2000.
The company does not exceed in bank borrowings; the
recourse to suppliers' credit is also limited below the sector's average.
The management determines a good range of
liquidity.
Financial Data
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Estimated Financial Data |
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Item Type |
Value |
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Sales |
3.400.000 |
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 31/12/2001 - 12 Mesi -
Currency: - Amounts |
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- Balance Sheet as at 31/12/2000 - 12 Mesi -
Currency: - Amounts |
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RATIOS |
Value Type |
as at 31/12/2001 |
as at 31/12/2000 |
Sector Average |
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COMPOSITION ON INVESTMENT |
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Rigidity Ratio |
Units |
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Elasticity Ratio |
Units |
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Availability of stock |
Units |
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Total Liquidity Ratio |
Units |
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Quick Ratio |
Units |
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COMPOSITION ON SOURCE |
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Self Financing Ratio |
Units |
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Capital protection Ratio |
Units |
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Liabilities consolidation quotient |
Units |
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Financing |
Units |
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Permanent Indebtedness Ratio |
Units |
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M/L term Debts Ratio |
Units |
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Net Financial Indebtedness Ratio |
Units |
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CORRELATION |
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Structure's primary quotient |
Units |
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Treasury's primary quotient |
Units |
|||
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Rate of indebtedness ( Leverage ) |
% |
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RETURN |
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Return on Equity - Net- ( R.O.E. ) |
% |
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Return on Equity - Gross - ( R.O.E. ) |
% |
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Return on Investment ( R.O.I. ) |
% |
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Return/ Sales |
% |
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Extra Management revenues/charges incid. |
% |
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MANAGEMENT |
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Rate of capital employed return ( Turnover ) |
Units |
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Rate of stock return |
Units |
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Labour cost on purchasing expenses |
% |
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Short-term financing charges |
% |
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Capital on hand |
% |
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
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Population living in the province |
: |
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Population living in the region |
: |
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Number of families in the region |
: |
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Monthly family expences average in the region (in
Eur..) :
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- per food products |
: |
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- per non food products |
: |
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- per energy consume |
: |
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Sector Data
The values are calculated on a base of 1.066
significant companies.
The companies cash their credits on an average of
88 dd.
The average duration of suppliers debts is about 98
dd.
The sector's profitability is on an average of
2,35%.
The labour cost affects the turnover in the measure
of 15,38%.
Goods are held in stock in a range of 60 dd.
The difference between the sales volume and the resources
used to realize it is about 1,40.
The employees costs represent the 15,21% of the
production costs.
Statistical Detrimental Data
Statistically the trade activity passes through
serious crises.
The area is statistically considered remarkably risky.
In the region 41.341 protested subjects are found;
in the province they count to 6.700.
The insolvency index for the region is 1,02, ,
while for the province it is 0,97.
Total Bankrupt companies in the province : 1.669.
Total Bankrupt companies in the region : 15.496.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 63.34 |
|
|
1 |
INR 85.89 |
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Euro |
1 |
INR 76.15 |
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Euro |
1 |
INR 76.02 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
VAR |
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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.