|
|
|
MIRA INFORM REPORT
|
Report No. : |
486489 |
|
Report Date : |
17.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
DEMAK S.R.L |
|
|
|
|
Registered Office : |
Strada Del Cascinotto, 163, 10156- Torino(TO)-IT |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2016 |
|
|
|
|
Date of Incorporation : |
13.07.1984 |
|
|
|
|
Legal Form : |
Limited liability
company |
|
|
|
|
Line of Business : |
·
Manufacture of other general-purpose machinery ·
Manufacture of machinery for the plastic and rubber industry (including
spare parts and accessories) |
|
|
|
|
No. of Employees : |
From 26 to 35 |
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 |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
|
Italy |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
ITALY - ECONOMIC OVERVIEW
Italy 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
|
Demak S.r.l. |
|
Strada |
Del Cascinotto, |
163 |
|
10156 |
- Torino |
(TO) |
-IT- |
Summary
|
Fiscal Code |
: |
04672960012 |
|
Legal Form |
: |
Limited liability company |
|
start of Activities |
: |
25/11/1986 |
|
Equity |
: |
Over 2.582.254 |
|
Turnover Range |
: |
7.750.000/9.000.000 |
|
Number of Employees |
: |
from 26 to 35 |
Activity
Manufacture of other general-purpose machinery
Manufacture of machinery for the plastic and rubber
industry (including spare parts and accessories)
Legal Data
Legal Form : Limited liability company
|
Fiscal Code : 04672960012 |
|
Foreign Trade Reg. no. : TO005800 since
03/12/1991 |
|
Chamber of Commerce no. : 651099 of Torino since
05/09/1984 |
|
Firms' Register : TO272-1984-3392 of Torino since
19/02/1996 |
|
V.A.T. Code : 04672960012 |
|
R. E. C. no. : 120962 of Torino since 03/12/1987 |
|
Foundation date |
: 13/07/1984 |
|
|
Establishment date |
: 13/07/1984 |
|
|
Start of Activities |
: 25/11/1986 |
|
|
Legal duration |
: 31/12/2100 |
|
|
Nominal Capital |
: 26.000 |
|
|
Subscribed Capital |
: 26.000 |
|
|
Paid up Capital |
: 26.000 |
|
Legal mail : |
DEMAK@PECSOCI.UI.TORINO.IT |
Members
|
|
Bortolini |
Giacomina |
|
|
Born in San Mauro Torinese |
(TO) |
on 30/03/1938 |
- Fiscal Code : BRTGMN38C70I030F |
|
|
Residence: |
Massimo D'azeglio |
, 55 |
- 10100 |
Torino |
(TO) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
16/01/2008 |
|
|
Gastaldi |
Maurizio |
|
|
Born in Rapallo |
(GE) |
on 07/12/1964 |
- Fiscal Code : GSTMRZ64T07H183I |
|
|
Residence: |
Val San Martino Superiore |
, 102/BIS |
- 10100 |
Torino |
(TO) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
16/01/2008 |
||
|
Board Chairman |
16/01/2008 |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Gastaldi |
Silvia |
|
|
Born in Rapallo |
(GE) |
on 23/10/1962 |
- Fiscal Code : GSTSLV62R63H183U |
|
|
Residence: |
Pio V |
, 31 |
- 10100 |
Torino |
(TO) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
16/01/2008 |
||
|
Managing Director |
16/01/2008 |
||
|
Assistant board Chairman |
16/01/2008 |
|
|
No Prejudicial events are reported |
|
|
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.
|
|
Gastaldi |
Maurizio |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
S.e. Special Engines S.r.l. |
Torino (TO) - IT - |
01811860012 |
Managing Director |
Withdrawn |
Registered |
|
S.e. Special Engines S.r.l. |
Torino (TO) - IT - |
01811860012 |
Director |
Active |
Registered |
|
S.e. Special Engines S.r.l. |
Torino (TO) - IT - |
01811860012 |
Board Chairman |
Active |
Registered |
|
|
Gastaldi |
Silvia |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
S.e. Special Engines S.r.l. |
Torino (TO) - IT - |
01811860012 |
Managing Director |
Active |
Registered |
|
S.e. Special Engines S.r.l. |
Torino (TO) - IT - |
01811860012 |
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 |
|
Bortolini Giacomina |
Torino - IT - |
BRTGMN38C70I030F |
1.386 .Eur |
5,33 |
|
Gastaldi Maurizio |
Torino - IT - |
GSTMRZ64T07H183I |
12.307 .Eur |
47,33 |
|
Gastaldi Silvia |
Torino - IT - |
GSTSLV62R63H183U |
12.307 .Eur |
47,33 |
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 |
|
Del Cascinotto |
, 163 |
- 10100 |
- Torino |
(TO) |
- IT - |
|
PHONE |
: 0112239876 |
|
Legal mail |
: DEMAK@PECSOCI.UI.TORINO.IT |
|
- |
Branch |
(office) |
since 08/07/2010 |
|
Del Cascinotto - P.6 |
, 163 |
- 10100 |
- Torino |
(TO) |
- IT - |
|
Employees |
: 30 |
|
Fittings and Equipment for a value of 44.000 |
Eur |
|
Stocks for a value of 1.560.000 |
Eur |
The firm operates abroad as importer / exporter..
Export represents up to 20% of the global turnover.
Products abroad are placed by :
|
- its own agents |
Historical Information and/or Firm's Status
CHANGES TO THE LEGAL FORM:
|
Former legal form |
New legal form |
Changement Date |
|
Limited partnership |
Limited liability company |
29/12/1994 |
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 |
|
TORINO (TO) |
Buildings |
2 |
12/01/2018 |
|
Buildings Details |
|
Cadastre |
Title |
Location |
Sheet No. |
Particle No. |
Sub No. |
Categorie |
Classe |
Consistence |
Cadastrial Rent |
Part No. |
|
B |
Proprieta' per 1000/1000 |
TORINO (TO) STRADA DEL CASCINOTTO, 163 Piano 5-6 |
1092 |
272 |
117 |
zona3 cat. A/10 |
1 |
11,5 vani |
Euro:4.454,44 |
|
|
B |
Proprieta' per 1/1 |
TORINO (TO) STRADA DEL CASCINOTTO, 163 Piano 1-3 |
1092 |
272 |
14 |
zona3 cat. D/7 |
Euro: 9.854,00 |
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 1986
The eonomic-financial analysis is based on the
latest 3 b/s.
Under an economic point of view, profits were
registered during the last years with a r.o.e. of 10,91% in 2016 with a stable
trend in the turnover.
The operating result in 2016 was positive (4,98%)
and in line with the sector's average.
The amount of the operating result is equal to Eur.
446.246 showing a downwards trend equal to -37,6% if compared to the value of
the financial year 2015.
The gross operating margin of the latest financial
year is of Eur. 695.292 recording a -33,68% decrease.
Very good financial situation: shareholder's equity
covers short-terms debts with an indebtedness level equal to 0,04
Subject can manage an equity capital funds for an
amount of Eur. 3.700.061 , unchanged as opposed to the preceding year.
Total indebtedness amounts to Eur. 3.330.278, ,
showing an upward trend if compared to 2015.
Current liquid assets is positive.
During financial year 2016 the cash flow amounted
to Eur. 652.603
Labour cost amounts to Eur. 1.919.109, with a
25,06% incidence on production costs. , whereas the incidence on sales revenues
is of 23,86%.
The financial charges are lower than the financial
incomes.
Financial Data
|
|
Complete balance-sheet for the year |
al 31/12/2016 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
8.043.217 |
|
Profit (Loss) for the period |
403.557 |
|
|
Complete balance-sheet for the year |
al 31/12/2015 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
8.307.482 |
|
Profit (Loss) for the period |
609.898 |
|
|
Complete balance-sheet for the year |
al 31/12/2014 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
7.417.976 |
|
Profit (Loss) for the period |
369.386 |
|
|
Complete balance-sheet for the year |
al 31/12/2013 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
8.133.940 |
|
Profit (Loss) for the period |
352.491 |
|
|
Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
8.117.530 |
|
Profit (Loss) for the period |
265.593 |
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 |
0,17 |
0,22 |
0,25 |
0,18 |
|
Elasticity Ratio |
Units |
0,82 |
0,77 |
0,74 |
0,80 |
|
Availability of stock |
Units |
0,17 |
0,16 |
0,15 |
0,24 |
|
Total Liquidity Ratio |
Units |
0,65 |
0,61 |
0,59 |
0,48 |
|
Quick Ratio |
Units |
0,35 |
0,30 |
0,36 |
0,03 |
|
COMPOSITION ON SOURCE |
|||||
|
Net Short-term indebtedness |
Units |
0,04 |
n.c. |
n.c. |
3,25 |
|
Self Financing Ratio |
Units |
0,41 |
0,47 |
0,42 |
0,19 |
|
Capital protection Ratio |
Units |
0,88 |
0,81 |
0,86 |
0,63 |
|
Liabilities consolidation quotient |
Units |
0,18 |
0,25 |
0,25 |
0,19 |
|
Financing |
Units |
0,90 |
0,63 |
0,82 |
3,80 |
|
Permanent Indebtedness Ratio |
Units |
0,48 |
0,54 |
0,50 |
0,36 |
|
M/L term Debts Ratio |
Units |
0,07 |
0,07 |
0,08 |
0,11 |
|
Net Financial Indebtedness Ratio |
Units |
n.c. |
n.c. |
n.c. |
0,63 |
|
CORRELATION |
|||||
|
Fixed assets ratio |
Units |
2,85 |
2,47 |
1,97 |
1,75 |
|
Current ratio |
Units |
2,22 |
2,64 |
2,22 |
1,21 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
1,75 |
2,09 |
1,78 |
0,81 |
|
Structure's primary quotient |
Units |
2,46 |
2,14 |
1,64 |
1,03 |
|
Treasury's primary quotient |
Units |
0,95 |
1,04 |
1,09 |
0,06 |
|
Rate of indebtedness ( Leverage ) |
% |
242,34 |
214,89 |
240,15 |
516,42 |
|
Current Capital ( net ) |
Value |
4.059.206 |
3.504.579 |
2.755.565 |
422.465 |
|
RETURN |
|||||
|
Return on Sales |
% |
8,11 |
11,35 |
10,00 |
3,35 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
10,91 |
17,96 |
13,02 |
5,13 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
14,12 |
25,83 |
20,27 |
14,77 |
|
Return on Investment ( R.O.I. ) |
% |
4,98 |
9,80 |
4,82 |
4,16 |
|
Return/ Sales |
% |
5,55 |
8,61 |
4,43 |
4,11 |
|
Extra Management revenues/charges incid. |
% |
90,43 |
85,28 |
112,53 |
28,57 |
|
Cash Flow |
Value |
652.603 |
943.238 |
741.996 |
122.482 |
|
Operating Profit |
Value |
446.246 |
715.187 |
328.261 |
144.752 |
|
Gross Operating Margin |
Value |
695.292 |
1.048.527 |
700.871 |
241.990 |
|
MANAGEMENT |
|||||
|
Credits to clients average term |
Days |
n.c. |
n.c. |
n.c. |
111,85 |
|
Debts to suppliers average term |
Days |
n.c. |
n.c. |
n.c. |
128,30 |
|
Average stock waiting period |
Days |
69,87 |
51,57 |
48,01 |
80,43 |
|
Rate of capital employed return ( Turnover ) |
Units |
0,90 |
1,14 |
1,09 |
1,08 |
|
Rate of stock return |
Units |
5,15 |
6,98 |
7,50 |
4,45 |
|
Labour cost incidence |
% |
23,86 |
21,92 |
22,62 |
19,12 |
|
Net financial revenues/ charges incidence |
% |
1,00 |
1,95 |
3,33 |
-1,08 |
|
Labour cost on purchasing expenses |
% |
25,06 |
23,51 |
24,05 |
19,02 |
|
Short-term financing charges |
% |
1,58 |
0,31 |
0,33 |
2,68 |
|
Capital on hand |
% |
111,48 |
87,86 |
91,83 |
91,91 |
|
Sales pro employee |
Value |
136.325 |
148.347 |
142.653 |
198.432 |
|
Labour cost pro employee |
Value |
32.527 |
32.514 |
32.273 |
35.779 |
Remarks
1) Protests checking (relative to the last five years)
performed by crossing and matching the members names and the Firm's Style with
the reported addresses, is supplied by the Informatic Registry managed by the
Italian Chamber of Commerce. If the fiscal code is not indicated, the eventual
homonymous cases are submitted to expert staff evaluation in order to limit
wrong matching risks.
2) The Legal Data, supplied and retrived from the
Firm's Registry of the Italian Chamber of Commerce, are in line with the last
registered modifications.
3) Risk evaluation and Credit Opinion have been
performed on the base of the actual data at the moment of their availability.
Market / Territory Data
|
Population living in the province |
: |
|
|
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 1.206 significant
companies.
The companies cash their credits on an average of
112 dd.
The average duration of suppliers debts is about
128 dd.
The sector's profitability is on an average of
3,35%.
The labour cost affects the turnover in the measure
of 19,12%.
Goods are held in stock in a range of 80 dd.
The difference between the sales volume and the
resources used to realize it is about 1,08.
The employees costs represent the 19,02% of the
production costs.
Statistical Detrimental Data
Statistcally the trade activity shows periods of
crisis.
The area is statistically considered moderately
risky.
In the region 27.019 protested subjects are found;
in the province they count to 16.723.
The insolvency index for the region is 0,63, ,
while for the province it is 0,76.
Total Bankrupt companies in the province : 7.726.
Total Bankrupt companies in the region : 14.165.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 63.76 |
|
|
1 |
INR 87.91 |
|
Euro |
1 |
INR 78.20 |
|
Euro |
1 |
INR 78.02 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
PRA |
|
|
|
|
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.