|
|
|
MIRA INFORM REPORT
|
Report No. : |
516443 |
|
Report Date : |
23.06.2018 |
IDENTIFICATION DETAILS
|
Name : |
METALSIDER2 S.P.A. |
|
|
|
|
Registered Office : |
Via Villavara, 15/A, 41122 – Modena (MO) -IT- |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2016 |
|
|
|
|
Date of Incorporation : |
10.12.2003 |
|
|
|
|
Legal Form : |
Joint stock company |
|
|
|
|
Line of Business : |
Manufacture of iron, steel and ferro-alloys |
|
|
|
|
No. of Employees : |
from 51 to 70 |
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 : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
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 (31.12.2017) |
Current Rating (01.04.2018) |
|
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’s economy comprises 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 records. 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
As
for Your mandate, we report on :
|
Metalsider2
S.p.a. |
|
Via |
Villavara, |
15/A |
|
41122 |
-
Modena |
(MO) |
-IT- |
Summary
|
Fiscal Code |
: |
02077140354 |
|
Legal Form |
: |
Joint
stock company |
|
start of Activities |
: |
01/03/2004 |
|
Equity |
: |
Over
2.582.254 |
|
Turnover Range |
: |
100.000.000/150.000.000 |
|
Number of Employees |
: |
from
51 to 70 |
Credit
Analysis
|
Credit
Opinion |
: |
250.000
- |
|
Under
the financial aspect a certain balance is reported which leads |
||
|
to
a credit with a very limited risk. |
|
n.b.:
The Creditworthness Rate shows, in percentage, the ratio between the
suggested credit opinion and the credit amount that the firm could get if the
financial situation would be completely positive. |
Activity
Iron
metallurgy - Manufacture of iron, steel and ferro-alloys
Legal
Data
Legal
Form : Joint stock company
|
Fiscal
Code : 02077140354 |
|
Foreign
Trade Reg. no. : MO041531 since 21/07/2006 |
|
Foreign
Trade Reg. no. : 026588 of Reggio Emilia since 23/03/2004 |
|
Chamber
of Commerce no. : 349898 of Modena since 15/07/2005 |
|
Chamber
of Commerce no. : 249606 of Reggio Emilia since 19/12/2003 |
|
Chamber
of Commerce no. : 258201 of Reggio Emilia |
|
Firms'
Register : RE-2003-42665 of Reggio Emilia since 19/12/2003 |
|
V.A.T.
Code : 02077140354 |
|
Foundation
date |
:
10/12/2003 |
|
Establishment
date |
:
10/12/2003 |
|
Start
of Activities |
:
01/03/2004 |
|
Legal
duration |
:
31/12/2030 |
|
Nominal
Capital |
:
300.000 |
|
Subscribed
Capital |
:
300.000 |
|
Paid
up Capital |
:
300.000 |
|
Legal
mail : |
METALSIDER2@PEC.METALSIDER2SPA.IT |
Members
|
Digani Fernando |
|
Born
in Pavullo nel Frignano |
(MO) |
on
20/06/1955 |
-
Fiscal Code : DGNFNN55H20G393I |
|
Residence: |
Valle
Olio |
,
3885 |
-
41028 |
Serramazzoni |
(MO) |
-
IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Sole
Director |
08/01/2015 |
|
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.
|
Digani Fernando |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Nuova
Eurozinco S.p.a. |
Modena
(MO) - IT - |
02318810369 |
Director |
Withdrawn |
Registered |
|
Nuova
Eurozinco S.p.a. |
Modena
(MO) - IT - |
02318810369 |
Partner |
Withdrawn |
Registered |
|
Specialities
S.r.l. |
Berbenno
(BG) - IT - |
02310010166 |
Director |
Withdrawn |
Registered |
|
Dy
E Vy S.r.l. |
Formigine
(MO) - IT - |
02925400364 |
Sole
Director |
Withdrawn |
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 |
|
Digani
Fernando |
Serramazzoni
- IT - |
DGNFNN55H20G393I |
267.000
.Eur |
89,00 |
|
Ruozzi
Cinzia |
RZZCNZ68L47H223Q |
15.000
.Eur |
5,00 |
|
|
Conservati
Alessandro |
CNSLSN68E05H223C |
15.000
.Eur |
5,00 |
|
|
Ravaldi
Melissa |
RVLMSS77C71C107A |
3.000
.Eur |
1,00 |
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 |
|
Villavara |
,
15/A |
-
41100 |
-
Modena |
(MO) |
-
IT - |
|
Legal
mail |
:
METALSIDER2@PEC.METALSIDER2SPA.IT |
|
Employees |
: 53 |
|
Active partners |
: 1 |
|
Fittings
and Equipment for a value of 360.000 |
Eur |
|
Stocks
for a value of 11.810.000 |
Eur |
Historical
Information and/or Firm's Status
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 |
|
MODENA
(MO) |
Buildings |
4 |
20/06/2018 |
|
MODENA
(MO) |
Land |
8 |
20/06/2018 |
Buildings
Details
|
Cadastre |
Title |
Location |
Sheet No. |
Particle No. |
Sub No. |
Categorie |
Classe |
Consistence |
Cadastrial Rent |
Part No. |
|
B |
Proprieta'
per 1/1 |
MODENA
(MO) STRADA DI VILLAVARA, 15/A Piano T |
52 |
17 |
22 |
zona3
cat. C/3 |
6 |
37
mq |
Euro:208,29 |
|
|
B |
Proprieta'
per 1/1 |
MODENA
(MO) STRADA DI VILLAVARA, 15/B Piano T-1 |
52 |
328 |
zona3
cat. D/7 |
Euro:
7.061,68 |
||||
|
B |
Proprieta'
per 1/1 |
MODENA
(MO) STRADA DI VILLAVARA, Piano T |
52 |
329 |
cat.
F/1 |
|||||
|
B |
Proprieta'
per 1/1 |
MODENA
(MO) STRADA DI VILLAVARA, Piano T |
52 |
364 |
cat.
F/1 |
Land
Details
|
Cadastre |
Title |
Location |
Sheet No. |
Particle No. |
Sub No. |
Category |
Class |
Consistence |
Cadastrial Rent |
Part No. |
|
L |
Proprieta'
per 1/1 |
MODENA
(MO) |
52 |
223 |
SEMINATIVO |
2 |
23
are 71 ca |
R.D.Euro:22,04
R.A. Euro: 25,71 |
||
|
L |
Proprieta'
per 1/1 |
MODENA
(MO) |
52 |
40 |
PRATO |
U |
4
are 8 ca |
R.D.Euro:2,32
R.A. Euro: 1,26 |
11836 |
|
|
L |
Proprieta'
per 1/1 |
MODENA
(MO) |
52 |
445 |
SEMINATIVO |
2 |
11
are 25 ca |
R.D.Euro:10,46
R.A. Euro: 12,20 |
||
|
L |
Proprieta'
per 1/1 |
MODENA
(MO) |
52 |
446 |
SEMINATIVO |
2 |
1
ha 49 are 32 ca |
R.D.Euro:138,81
R.A. Euro: 161,95 |
||
|
L |
Proprieta'
per 1/1 |
MODENA
(MO) |
52 |
447 |
SEMINATIVO |
2 |
64
are 32 ca |
R.D.Euro:59,79
R.A. Euro: 69,76 |
||
|
L |
Proprieta'
per 1/1 |
MODENA
(MO) |
52 |
448 |
SEMINATIVO |
2 |
7
are 96 ca |
R.D.Euro:7,40
R.A. Euro: 8,63 |
||
|
L |
Proprieta'
per 1/1 |
MODENA
(MO) |
52 |
449 |
SEMINATIVO |
2 |
13
are 10 ca |
R.D.Euro:12,18
R.A. Euro: 14,21 |
||
|
L |
Proprieta'
per 1/1 |
MODENA
(MO) |
52 |
450 |
SEMINATIVO |
2 |
1
ha 61 are 34 ca |
R.D.Euro:149,99
R.A. Euro: 174,98 |
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 2004.
The
eonomic-financial analysis is based on the latest 3 b/s.
During the last years, it achieved profits (r.o.e. 35,18% on 2016) thanks to a progressive increase in turnover (+14,87% in 2016 compared to 2015 and +18,44% in 2015 compared to 2014).
The operating result in 2016 was positive (7,48%) and in line with the sector's average.
The amount of the operating result for the year 2016 is of Eur. 2.775.584 with a more then 100% growth.
During the latest financial year the gross operating margin amounted to Eur. 3.113.296 with a more then 100% increase as opposed to the preceding year.
The ratio between shareholder's equity and borrowed capital is not well balanced, the indebtedness level is equal to 4,37 which is decreasing.
Subject can manage an equity capital funds for an amount of Eur. 5.918.671 , increasing by 53,84% if compared to the financial year 2015.
During the last financial year total debts volume reached Eur. 30.666.847 (Eur. 2.968.267 were m/l term ones) showing a stable trend as opposed to 2015 (Eur. 30.311.605).
Bank borrowings' volume is slightly high but it modestly dips into suppliers credit, 33,4 gg. is the payments' average time below the sector's average.
The management determines a good range of liquidity.
Credits are collected in 54,37 days on the average. , a better value than the sector's average.
Eur. 2.419.777 is the value of cash flow during the year 2016
Subordinate employment cost is of Eur. 1.708.078, i.e. 1,61% on total production costs. and a 1,62% incidence on sales volumes.
If compared to the sales volume (-0,37%), the impact of the financial charges is limited.
Financial Data
|
Complete
balance-sheet for the year |
al
31/12/2016 |
(in
Eur |
x
1) |
|
Item
Type |
Value |
|
Sales |
105.356.155 |
|
Profit
(Loss) for the period |
2.082.065 |
|
Complete
balance-sheet for the year |
al
31/12/2015 |
(in
Eur |
x
1) |
|
Item
Type |
Value |
|
Sales |
91.711.199 |
|
Profit
(Loss) for the period |
297.830 |
|
Complete
balance-sheet for the year |
al
31/12/2014 |
(in
Eur |
x
1) |
|
Item
Type |
Value |
|
Sales |
77.429.416 |
|
Profit
(Loss) for the period |
204.878 |
|
Complete
balance-sheet for the year |
al
31/12/2013 |
(in
Eur |
x
1) |
|
Item
Type |
Value |
|
Sales |
54.737.953 |
|
Profit
(Loss) for the period |
57.625 |
|
Complete
balance-sheet for the year |
al
31/12/2012 |
(in
Eur |
x
1) |
|
Item
Type |
Value |
|
Sales |
46.747.040 |
|
Profit
(Loss) for the period |
686.641 |
financials
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 |
BALANCE SHEET
ACCOUNTS
|
Years |
2016 |
2015 |
2014 |
|
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 |
2.326 |
3.489 |
4.652 |
|
.
. Research,develop. and advert.expens. |
|||
|
.
. Industrial patent rights |
533 |
365 |
|
|
.
. Concessions,licenses,trademarks,etc. |
|||
|
.
. Goodwill |
|||
|
.
. Assets in formation and advance paymen. |
|||
|
.
. Other intangible fixed assets |
464.030 |
519.253 |
425.054 |
|
. Total Intangible
Fixed Assets |
466.889 |
523.107 |
429.706 |
|
. TANGIBLE FIXED
ASSETS |
|||
|
.
. Real estate |
814.930 |
816.205 |
818.740 |
|
.
. Plant and machinery |
357.791 |
421.352 |
421.208 |
|
.
. Industrial and commercial equipment |
1.175 |
1.963 |
1.195 |
|
.
. Other assets |
251.036 |
134.994 |
120.783 |
|
.
. Assets under construction and advances |
165.787 |
145.598 |
122.041 |
|
. Total Tangible
fixed assets |
1.590.719 |
1.520.112 |
1.483.967 |
|
. FINANCIAL FIXED
ASSETS |
|||
|
. . Equity
investments |
2.045 |
5 |
5 |
|
.
. . Equity invest. in subsidiary companies |
|||
|
.
. . Equity invest. in associated companies |
|||
|
.
. . Equity invest. in holding companies |
|||
|
.
. . Equity invest. in other companies |
2.045 |
5 |
5 |
|
. . Financial
receivables |
35.177 |
29.177 |
29.177 |
|
.
. . . Within 12 months |
|||
|
.
. . . Beyond 12 months |
35.177 |
29.177 |
29.177 |
|
. . . Receivab due
from subsidiaries |
|||
|
.
. . . Within 12 months |
|||
|
.
. . . Beyond 12 months |
|||
|
. . . Receivables
due from assoc.comp. |
|||
|
.
. . . Within 12 months |
|||
|
.
. . . Beyond 12 months |
|||
|
. . . Receivables
due from holding comp. |
|||
|
.
. . . Within 12 months |
|||
|
.
. . . Beyond 12 months |
|||
|
. . . Receivables
due from third parties |
35.177 |
29.177 |
29.177 |
|
.
. . . Within 12 months |
|||
|
.
. . . Beyond 12 months |
35.177 |
29.177 |
29.177 |
|
. . Other
securities |
1.026 |
||
|
. . Own shares |
|||
|
.
. . Total nominal value |
|||
|
. Total financial
fixed assets |
38.248 |
29.182 |
29.182 |
|
Total fixed assets |
2.095.856 |
2.072.401 |
1.942.855 |
|
CURRENT ASSETS |
|||
|
. INVENTORIES |
|||
|
.
. Raw materials and other consumables |
2.404.135 |
4.407.144 |
2.991.035 |
|
.
. Work in progress and semimanufactured |
4.412.012 |
1.749.191 |
540.343 |
|
.
. Work in progress on order |
|||
|
.
. Finished goods |
3.823.989 |
3.426.426 |
3.549.544 |
|
.
. Advance payments |
1.172.870 |
1.666.667 |
850.709 |
|
. Total Inventories |
11.813.006 |
11.249.428 |
7.931.631 |
|
. CREDITS NOT HELD
AS FIXED ASSETS |
|||
|
.
. Within 12 months |
21.144.224 |
21.258.106 |
11.244.104 |
|
.
. Beyond 12 months |
|||
|
. . Trade
receivables |
15.912.359 |
17.905.731 |
10.446.853 |
|
.
. . . Within 12 months |
15.912.359 |
17.905.731 |
10.446.853 |
|
.
. . . Beyond 12 months |
|||
|
. . Receivables due
from subsid. comp. |
|||
|
.
. . . Within 12 months |
|||
|
.
. . . Beyond 12 months |
|||
|
. . Receivables due
from assoc. comp. |
|||
|
.
. . . Within 12 months |
|||
|
.
. . . Beyond 12 months |
|||
|
. . Receivables due
from holding comp. |
|||
|
.
. . . Within 12 months |
|||
|
.
. . . Beyond 12 months |
|||
|
. . Fiscal
Receivables |
234.506 |
408.967 |
425.847 |
|
.
. . . Within 12 months |
234.506 |
408.967 |
425.847 |
|
.
. . . Beyond 12 months |
|||
|
. . Receivables for
anticipated taxes |
54.838 |
42.977 |
58.260 |
|
.
. . . Within 12 months |
54.838 |
42.977 |
58.260 |
|
.
. . . Beyond 12 months |
|||
|
. . Receivables due
from third parties |
4.942.521 |
2.900.431 |
313.144 |
|
.
. . . Within 12 months |
4.942.521 |
2.900.431 |
313.144 |
|
.
. . . Beyond 12 months |
|||
|
. Total Credits not
held as fixed assets |
21.144.224 |
21.258.106 |
11.244.104 |
|
. 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 |
1.851.605 |
57.328 |
1.088.739 |
|
.
. Checks |
|||
|
.
. Banknotes and coins |
1.661 |
1.153 |
1.342 |
|
.
Total Liquid funds |
1.853.266 |
58.481 |
1.090.081 |
|
Total current
assets |
34.810.496 |
32.566.015 |
20.265.816 |
|
ADJUSTMENT ACCOUNTS |
|||
|
.
Discount on loans |
150.797 |
168.099 |
|
|
.
Other adjustment accounts |
209.322 |
||
|
Total adjustments
accounts |
209.322 |
150.797 |
168.099 |
|
TOTAL ASSETS |
37.115.674 |
34.789.213 |
22.376.770 |
|
LIABILITIES |
|||
|
STOCKHOLDERS'
EQUITY |
|||
|
.
Capital stock |
300.000 |
300.000 |
300.000 |
|
.
Additional paid-in capital |
|||
|
.
Revaluation reserves |
|||
|
.
Legal reserve |
60.000 |
60.000 |
2.000 |
|
.
Reserve for Own shares |
|||
|
.
Statute reserves |
|||
|
.
Other reserves |
3.476.606 |
3.189.220 |
3.042.341 |
|
.
Accumulated Profits (Losses) |
|||
|
.
Profit( loss) of the year |
2.082.065 |
297.830 |
204.878 |
|
.
Advances on dividends |
|||
|
.
Partial loss of the year Coverage |
|||
|
Total
Stockholders'Equity |
5.918.671 |
3.847.050 |
3.549.219 |
|
RESERVES FOR RISKS
AND CHARGES |
|||
|
.
. Reserve for employee termination indem. |
20.000 |
10.000 |
|
|
.
. Taxation fund, also differed |
132.457 |
8.666 |
77 |
|
.
. Other funds |
42.179 |
322.695 |
129.660 |
|
Total Reserves for
Risks and Charges |
194.636 |
341.361 |
129.737 |
|
Employee
termination indemnities |
314.954 |
273.136 |
278.172 |
|
ACCOUNTS PAYABLE |
|||
|
.
. . . Within 12 months |
27.698.580 |
30.082.585 |
17.964.899 |
|
.
. . . Beyond 12 months |
2.968.267 |
229.020 |
445.829 |
|
. . 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 |
19.982.668 |
23.168.287 |
11.728.484 |
|
.
. . . Within 12 months |
17.014.401 |
22.939.267 |
11.282.655 |
|
.
. . . Beyond 12 months |
2.968.267 |
229.020 |
445.829 |
|
. . Due to other
providers of finance |
|||
|
.
. . . Within 12 months |
|||
|
.
. . . Beyond 12 months |
|||
|
. . Advances from
customers |
7.201 |
||
|
.
. . . Within 12 months |
7.201 |
||
|
.
. . . Beyond 12 months |
|||
|
. . Trade payables |
9.428.022 |
6.709.423 |
6.198.821 |
|
.
. . . Within 12 months |
9.428.022 |
6.709.423 |
6.198.821 |
|
.
. . . Beyond 12 months |
|||
|
. . Securities
issued |
|||
|
.
. . . Within 12 months |
|||
|
.
. . . Beyond 12 months |
|||
|
. . Due to subsidiary
companies |
|||
|
.
. . . Within 12 months |
|||
|
.
. . . Beyond 12 months |
|||
|
. . Due to
associated companies |
|||
|
.
. . . Within 12 months |
|||
|
.
. . . Beyond 12 months |
|||
|
. . Due to holding
companies |
|||
|
.
. . . Within 12 months |
|||
|
.
. . . Beyond 12 months |
|||
|
. . Due to the tax
authorities |
850.928 |
101.277 |
117.333 |
|
.
. . . Within 12 months |
850.928 |
101.277 |
117.333 |
|
.
. . . Beyond 12 months |
|||
|
. . Due to social security
and welfare inst. |
120.163 |
94.251 |
105.849 |
|
.
. . . Within 12 months |
120.163 |
94.251 |
105.849 |
|
.
. . . Beyond 12 months |
|||
|
. . Other payables |
277.865 |
238.367 |
260.241 |
|
.
. . . Within 12 months |
277.865 |
238.367 |
260.241 |
|
.
. . . Beyond 12 months |
|||
|
Total accounts
payable |
30.666.847 |
30.311.605 |
18.410.728 |
|
ADJUSTMENT ACCOUNTS |
|||
|
.
Agio on loans |
|||
|
.
Other adjustment accounts |
20.566 |
16.061 |
8.914 |
|
Total adjustment
accounts |
20.566 |
16.061 |
8.914 |
|
TOTAL LIABILITIES |
37.115.674 |
34.789.213 |
22.376.770 |
MEMORANDUM ACCOUNTS
|
Third
party goods |
|||
|
Investment
accounts |
5.460 |
300.000 |
|
|
Risk
accounts |
|||
|
Civil
and fiscal norms relation |
PROFIT AND LOSS ACCOUNTS
|
VALUE OF PRODUCTION |
|||
|
.
Revenues from sales and services |
105.356.155 |
91.711.199 |
77.429.416 |
|
.
Changes in work in progress |
3.475.958 |
-428.038 |
1.304.279 |
|
.
Changes in semi-manufact. products |
|||
|
.
Capitalization of internal work |
|||
|
.
Other income and revenues |
117.845 |
125.070 |
30.878 |
|
.
. Contributions for operating expenses |
50.620 |
60.068 |
|
|
.
. Different income and revenues |
67.225 |
65.002 |
30.878 |
|
Total value of
production |
108.949.958 |
91.408.231 |
78.764.573 |
|
PRODUCTION COSTS |
|||
|
.
Raw material,other materials and consum. |
97.733.017 |
87.949.938 |
71.745.117 |
|
.
Services received |
3.294.823 |
2.715.862 |
2.888.197 |
|
.
Leases and rentals |
604.528 |
699.457 |
598.200 |
|
.
Payroll and related costs |
1.708.078 |
1.593.894 |
1.664.798 |
|
.
. Wages and salaries |
1.168.078 |
988.854 |
1.122.563 |
|
.
. Social security contributions |
378.421 |
455.330 |
369.480 |
|
.
. Employee termination indemnities |
79.555 |
73.232 |
101.640 |
|
.
. Pension and similar |
360 |
||
|
.
. Other costs |
81.664 |
76.478 |
71.115 |
|
.
Amortization and depreciation |
337.712 |
329.344 |
310.176 |
|
.
. Amortization of intangible fixed assets |
103.112 |
105.401 |
71.408 |
|
.
. Amortization of tangible fixed assets |
221.927 |
205.031 |
199.727 |
|
.
. Depreciation of tangible fixed assets |
|||
|
.
. Writedown of current receiv.and of liquid |
12.673 |
18.912 |
39.041 |
|
. Changes in raw
materials |
2.418.584 |
-2.929.876 |
327.898 |
|
. Provisions to
risk reserves |
|||
|
. Other provisions |
|||
|
. Other operating
costs |
77.632 |
98.143 |
602.410 |
|
Total production
costs |
106.174.374 |
90.456.762 |
78.136.796 |
|
Diff. between value
and cost of product. |
2.775.584 |
951.469 |
627.777 |
|
FINANCIAL INCOME
AND EXPENSE |
|||
|
.
Income from equity investments |
|||
|
.
. In subsidiary companies |
|||
|
.
. In associated companies |
|||
|
.
. In other companies |
|||
|
. Other financial
income |
3.371 |
1.302 |
843.577 |
|
. . Financ.income
from receivables |
|||
|
.
. . Towards subsidiary companies |
|||
|
.
. . Towards associated companies |
|||
|
.
. . 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 |
3.371 |
1.302 |
843.577 |
|
.
. . - Subsidiary companies |
|||
|
.
. . - Associated companies |
|||
|
.
. . - Holding companies |
|||
|
.
. . - Other companies |
3.371 |
1.302 |
843.577 |
|
.
Interest and other financial expense |
-389.418 |
-474.313 |
-1.085.826 |
|
.
. Towards subsidiary companies |
|||
|
.
. Towards associated companies |
|||
|
.
. Towards holding companies |
|||
|
.
. Towards other companies |
-389.418 |
-474.313 |
-1.085.826 |
|
Total financial
income and expense |
-386.047 |
-473.011 |
-242.249 |
|
ADJUSTMENTS TO
FINANCIAL ASSETS |
|||
|
.
Revaluations |
1.928.964 |
||
|
.
. Of equity investments |
|||
|
.
. Of financ.fixed assets not repres.E.I. |
|||
|
.
. Of securities incl.among current assets |
1.928.964 |
||
|
. Devaluation |
-1.324.125 |
||
|
.
. Of equity investments |
|||
|
.
. Of financial fixed assets (no equity inv) |
|||
|
.
. Of securities included among current ass |
-1.324.125 |
||
|
Total adjustments
to financial assets |
604.839 |
||
|
EXTRAORDINARY
INCOME AND EXPENSE |
|||
|
.
Extraordinary income |
2 |
||
|
.
. Gains on disposals |
|||
|
.
. Other extraordinary income |
2 |
||
|
.
Extraordinary expense |
|||
|
.
. Losses on disposals |
|||
|
.
. Taxes relating to prior years |
|||
|
.
. Other extraordinary expense |
|||
|
Total extraordinary
income and expense |
2 |
||
|
Results before
income taxes |
2.994.376 |
478.460 |
385.528 |
|
.
Taxes on current income |
912.311 |
180.630 |
180.650 |
|
.
. current taxes |
929.016 |
156.758 |
121.867 |
|
.
. differed taxes(anticip.) |
23.872 |
58.783 |
|
|
.
Net income for the period |
2.082.065 |
297.830 |
204.878 |
|
.
Adjustments in tax regulations pursuance |
|||
|
.
Provisions in tax regulations pursuance |
|||
|
.
Profit (loss) of the year |
2.082.065 |
297.830 |
204.878 |
|
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 |
0,06 |
0,06 |
0,09 |
0,30 |
|
Elasticity
Ratio |
Units |
0,94 |
0,94 |
0,91 |
0,68 |
|
Availability
of stock |
Units |
0,32 |
0,32 |
0,35 |
0,21 |
|
Total
Liquidity Ratio |
Units |
0,62 |
0,61 |
0,55 |
0,42 |
|
Quick
Ratio |
Units |
0,05 |
0,00 |
0,05 |
0,01 |
|
COMPOSITION ON
SOURCE |
|||||
|
Net
Short-term indebtedness |
Units |
4,37 |
7,80 |
4,75 |
2,31 |
|
Self
Financing Ratio |
Units |
0,16 |
0,11 |
0,16 |
0,21 |
|
Capital
protection Ratio |
Units |
0,60 |
0,84 |
0,86 |
0,61 |
|
Liabilities
consolidation quotient |
Units |
0,12 |
0,02 |
0,04 |
0,17 |
|
Financing |
Units |
5,18 |
7,88 |
5,19 |
3,62 |
|
Permanent
Indebtedness Ratio |
Units |
0,25 |
0,13 |
0,19 |
0,36 |
|
M/L
term Debts Ratio |
Units |
0,09 |
0,01 |
0,03 |
0,10 |
|
Net
Financial Indebtedness Ratio |
Units |
3,06 |
6,01 |
3,00 |
1,42 |
|
CORRELATION |
|||||
|
Fixed
assets ratio |
Units |
4,39 |
2,10 |
2,20 |
1,11 |
|
Current
ratio |
Units |
1,26 |
1,08 |
1,13 |
1,10 |
|
Acid
Test Ratio-Liquidity Ratio |
Units |
0,83 |
0,71 |
0,69 |
0,72 |
|
Structure's
primary quotient |
Units |
2,82 |
1,86 |
1,83 |
0,81 |
|
Treasury's
primary quotient |
Units |
0,07 |
0,00 |
0,06 |
0,02 |
|
Rate
of indebtedness ( Leverage ) |
% |
627,09 |
904,31 |
630,47 |
468,75 |
|
Current
Capital ( net ) |
Value |
7.111.916 |
2.483.430 |
2.300.917 |
525.922 |
|
RETURN |
|||||
|
Return
on Sales |
% |
2,30 |
0,68 |
0,67 |
2,32 |
|
Return
on Equity - Net- ( R.O.E. ) |
% |
35,18 |
7,74 |
5,77 |
3,79 |
|
Return
on Equity - Gross - ( R.O.E. ) |
% |
50,59 |
12,44 |
10,86 |
10,56 |
|
Return
on Investment ( R.O.I. ) |
% |
7,48 |
2,73 |
2,81 |
3,84 |
|
Return/
Sales |
% |
2,63 |
1,04 |
0,81 |
3,06 |
|
Extra
Management revenues/charges incid. |
% |
75,01 |
31,30 |
32,64 |
32,18 |
|
Cash
Flow |
Value |
2.419.777 |
627.174 |
515.054 |
1.200.022 |
|
Operating
Profit |
Value |
2.775.584 |
951.469 |
627.777 |
1.374.962 |
|
Gross
Operating Margin |
Value |
3.113.296 |
1.280.813 |
937.953 |
2.131.798 |
|
MANAGEMENT |
|||||
|
Credits
to clients average term |
Days |
54,37 |
70,29 |
48,57 |
85,05 |
|
Debts
to suppliers average term |
Days |
33,40 |
26,44 |
29,66 |
89,46 |
|
Average
stock waiting period |
Days |
40,36 |
44,16 |
36,88 |
47,61 |
|
Rate
of capital employed return ( Turnover ) |
Units |
2,84 |
2,64 |
3,46 |
1,45 |
|
Rate
of stock return |
Units |
8,92 |
8,15 |
9,76 |
7,34 |
|
Labour
cost incidence |
% |
1,62 |
1,74 |
2,15 |
5,48 |
|
Net
financial revenues/ charges incidence |
% |
-0,37 |
-0,52 |
-0,31 |
-1,06 |
|
Labour
cost on purchasing expenses |
% |
1,61 |
1,76 |
2,13 |
5,52 |
|
Short-term
financing charges |
% |
1,27 |
1,56 |
5,90 |
2,49 |
|
Capital
on hand |
% |
35,23 |
37,93 |
28,90 |
68,88 |
|
Sales
pro employee |
Value |
1.987.851 |
1.871.657 |
1.489.027 |
796.124 |
|
Labour
cost pro employee |
Value |
32.227 |
32.528 |
32.015 |
44.281 |
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 377 significant companies.
The
companies cash their credits on an average of 85 dd.
The
average duration of suppliers debts is about 89 dd.
The
sector's profitability is on an average of 2,32%.
The
labour cost affects the turnover in the measure of 5,48%.
Goods
are held in stock in a range of 48 dd.
The
difference between the sales volume and the resources used to realize it is about
1,45.
The
employees costs represent the 5,52% 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
3.557.
The
insolvency index for the region is 0,46, , while for the province it is 0,55.
Total
Bankrupt companies in the province : 2.526.
Total
Bankrupt companies in the region : 14.698.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 67.76 |
|
|
1 |
INR 89.95 |
|
Euro |
1 |
INR 78.85 |
|
Euro |
1 |
INR 79.18 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
SUJ |
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.