|
|
|
MIRA INFORM REPORT
|
Report No. : |
516676 |
|
Report Date : |
26.06.2018 |
IDENTIFICATION DETAILS
|
Name : |
RESINFLEX - MANIFATTURA APPLICAZIONI SINTETICHE - SRL |
|
|
|
|
Registered Office : |
Via Guglielmo Reiss Romoli, 256, 10100 – Torino (TO) -IT- |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2016 |
|
|
|
|
Date of Incorporation : |
30.04.2008 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Preparation and tanning of leather; dressing and dyeing of fur |
|
|
|
|
No. of Employees : |
from 11 to 15 |
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 |
Euroanalysis
Full
|
As for Your mandate,
we report on :
|
Resinflex
- Manifattura Applicazioni Sintetiche - Srl |
|
Via |
Guglielmo
Reiss Romoli, |
256 |
|
10100 |
-
Torino |
(TO) |
-IT- |
Summary
|
Fiscal Code |
: |
09852190017 |
|
Legal Form |
: |
Limited
liability company |
|
start of Activities |
: |
01/05/2008 |
|
Equity |
: |
400.000 |
|
Turnover Range |
: |
2.250.000/3.000.000 |
|
Number of Employees |
: |
from
11 to 15 |
Activity
Preparation
and tanning of leather; dressing and dyeing of fur
Legal
Data
Legal
Form : Limited liability company
|
Fiscal
Code : 09852190017 |
|
Chamber
of Commerce no. : 1085889 of Torino since 08/05/2008 |
|
V.A.T.
Code : 09852190017 |
|
Establishment
date |
:
30/04/2008 |
|
Start
of Activities |
:
01/05/2008 |
|
Legal
duration |
:
31/12/2050 |
|
Nominal
Capital |
:
50.000 |
|
Subscribed
Capital |
:
50.000 |
|
Paid
up Capital |
:
50.000 |
|
Legal
mail : |
RESINFLEX@PEC.IT |
Members
|
Rolando Renato |
|
Born
in Torino |
(TO) |
on
20/01/1967 |
-
Fiscal Code : RLNRNT67A20L219D |
|
Residence: |
Superga |
,
51 |
-
10020 |
Baldissero
Torinese |
(TO) |
-
IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Sole
Director |
11/02/2014 |
|
No Prejudicial
events are reported |
|
No Protests
registered |
|
Rex S.r.l. |
|
Residence: |
Duca
Degli Abruzzi |
,
6 |
-
10128 |
Torino |
(TO) |
-
IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Partner |
|
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.
|
Rolando Renato |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
RESINFLEX
- MANIFATTURA APPLICAZIONI SINTETICHE - SOCIETA' PER AZIONI |
Torino
(TO) - IT - |
00514180017 |
Director |
Withdrawn |
Registered |
|
La
Gingia Societa' Semplice |
Torino
(TO) - IT - |
01765880016 |
Partner |
Active |
Registered |
|
Protekno
S.r.l. In Liquidazione |
Torino
(TO) - IT - |
03131900015 |
Managing
Director |
Withdrawn |
Ceased |
|
Protekno
S.r.l. In Liquidazione |
Torino
(TO) - IT - |
03131900015 |
Board
Chairman |
Withdrawn |
Ceased |
|
Col.ve.ca.
Societa' Semplice |
Torino
(TO) - IT - |
96798300016 |
Partner |
Withdrawn |
Registered |
|
Re.ri.
- Societa' Semplice |
Torino
(TO) - IT - |
80115930010 |
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.
Capital
Shareholders
Shareholders'
list as at date of data collection:
|
Firm's Style / Name |
Seat / Residence |
Fiscal Code |
Owned Shares |
% Ownership |
|
Rolando
Renato |
Baldissero
Torinese - IT - |
RLNRNT67A20L219D |
500
.Eur |
1,00 |
|
Rex
S.r.l. |
Torino
- IT - |
07785170015 |
49.500
.Eur |
99,00 |
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 |
|
Guglielmo
Reiss Romoli |
,
256 |
-
10100 |
-
Torino |
(TO) |
-
IT - |
|
PHONE |
:
0112280711 |
|
Legal
mail |
:
RESINFLEX@PEC.IT |
|
Employees |
:
12 |
|
Stocks
for a value of 950.000 |
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 |
|
TORINO
(TO) |
Buildings |
2 |
21/06/2018 |
|
Buildings Details |
|
Cadastre |
Title |
Location |
Sheet No. |
Particle No. |
Sub No. |
Categorie |
Classe |
Consistence |
Cadastrial Rent |
Part No. |
|
B |
Proprieta'
per 1/1 |
TORINO
(TO) VIA REISS ROMOLI GUGLIELMO, 256 Piano S1-T - 0001 |
1055 |
22 |
1 |
zona3
cat. D/7 |
Euro:
29.504,00 |
|||
|
B |
Proprieta'
per 1/1 |
TORINO
(TO) VIA REISS ROMOLI GUGLIELMO, 256 Piano 1 |
1055 |
22 |
2 |
zona3
cat. A/3 |
1 |
4
vani |
Euro:185,92 |
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 2008
The economic-financial analysis has been made on the base of the b/s of the latests three years.
Unstable economic results mark the company's financial state of affairs. anyway in 2016 a positive result was achieved (r.o.e. 6,86%).
The operating result in 2016 was positive (2,07%) falling within the field's average.
An operating result of Eur. 46.740 has been registered. with an increase of more then 100% if the compared to the previous financial year.
The economic management produced a gross operating margin of Eur. 85.337 with a 66,25% increase as opposed to the preceding year.
The financial status of the company is fairly balanced with an indebtedness level of 3,58 but with an increase as against the previous accounting period.
The management generated equity capital for an amount of Eur. 372.480, unchanged as opposed to the preceding year.
Total debts recorded amounted to Eur. 1.638.809 (Eur. 96.882 of which were m/l term debts) with a growth equal to 24,28%.
Available funds are good.
During financial year 2016 the cash flow amounted to Eur. 64.157
Labour cost expenses amount to Eur. 592.562, representing 22,12% on the total of production costs. , with a 22,07% incidence on turnover.
If compared to the sales volume (-0,49%), 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 |
2.685.220 |
|
Profit
(Loss) for the period |
25.560 |
|
Complete
balance-sheet for the year |
al
31/12/2015 |
(in
Eur |
x
1) |
|
Item
Type |
Value |
|
Sales |
2.568.060 |
|
Profit
(Loss) for the period |
4.505 |
|
Complete
balance-sheet for the year |
al
31/12/2014 |
(in
Eur |
x
1) |
|
Item
Type |
Value |
|
Sales |
2.673.209 |
|
Profit
(Loss) for the period |
-102.490 |
|
Complete
balance-sheet for the year |
al
31/12/2013 |
(in
Eur |
x
1) |
|
Item
Type |
Value |
|
Sales |
2.578.865 |
|
Profit
(Loss) for the period |
-124.181 |
|
Complete
balance-sheet for the year |
al
31/12/2012 |
(in
Eur |
x
1) |
|
Item Type |
Value |
|
Sales |
2.500.696 |
|
Profit
(Loss) for the period |
-171.840 |
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 |
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
MEMORANDUM ACCOUNTS
PROFIT AND LOSS
ACCOUNTS
|
|
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 |
0,10 |
0,12 |
0,04 |
0,18 |
|
Elasticity
Ratio |
Units |
0,88 |
0,85 |
0,93 |
0,80 |
|
Availability
of stock |
Units |
0,42 |
0,47 |
0,54 |
0,20 |
|
Total
Liquidity Ratio |
Units |
0,45 |
0,38 |
0,38 |
0,51 |
|
Quick
Ratio |
Units |
0,09 |
0,08 |
0,12 |
0,02 |
|
COMPOSITION ON
SOURCE |
|||||
|
Net
Short-term indebtedness |
Units |
3,58 |
2,95 |
2,30 |
2,38 |
|
Self
Financing Ratio |
Units |
0,17 |
0,17 |
0,20 |
0,24 |
|
Capital
protection Ratio |
Units |
0,80 |
0,84 |
1,15 |
0,68 |
|
Liabilities
consolidation quotient |
Units |
0,21 |
0,38 |
0,39 |
0,18 |
|
Financing |
Units |
4,40 |
3,80 |
2,91 |
2,86 |
|
Permanent
Indebtedness Ratio |
Units |
0,31 |
0,40 |
0,42 |
0,38 |
|
M/L
term Debts Ratio |
Units |
0,14 |
0,23 |
0,22 |
0,11 |
|
Net
Financial Indebtedness Ratio |
Units |
n.c. |
n.c. |
n.c. |
1,00 |
|
CORRELATION |
|||||
|
Fixed
assets ratio |
Units |
3,18 |
3,39 |
10,34 |
1,78 |
|
Current
ratio |
Units |
1,28 |
1,44 |
1,62 |
1,25 |
|
Acid
Test Ratio-Liquidity Ratio |
Units |
0,66 |
0,64 |
0,67 |
0,84 |
|
Structure's
primary quotient |
Units |
1,70 |
1,47 |
4,88 |
1,07 |
|
Treasury's
primary quotient |
Units |
0,14 |
0,14 |
0,21 |
0,03 |
|
Rate
of indebtedness ( Leverage ) |
% |
605,27 |
579,30 |
507,81 |
408,81 |
|
Current
Capital ( net ) |
Value |
432.455 |
519.872 |
613.783 |
312.424 |
|
RETURN |
|||||
|
Return
on Sales |
% |
2,39 |
1,61 |
-2,47 |
2,67 |
|
Return
on Equity - Net- ( R.O.E. ) |
% |
6,86 |
1,30 |
-29,93 |
3,20 |
|
Return
on Equity - Gross - ( R.O.E. ) |
% |
9,01 |
2,98 |
-24,77 |
8,58 |
|
Return
on Investment ( R.O.I. ) |
% |
2,07 |
0,72 |
-5,16 |
4,36 |
|
Return/
Sales |
% |
1,74 |
0,56 |
-3,36 |
3,63 |
|
Extra
Management revenues/charges incid. |
% |
54,69 |
31,16 |
n.c. |
23,99 |
|
Cash
Flow |
Value |
64.157 |
41.376 |
-66.148 |
112.609 |
|
Operating
Profit |
Value |
46.740 |
14.458 |
-89.704 |
127.644 |
|
Gross
Operating Margin |
Value |
85.337 |
51.329 |
-53.362 |
230.719 |
|
MANAGEMENT |
|||||
|
Credits
to clients average term |
Days |
n.c. |
n.c. |
n.c. |
101,46 |
|
Debts
to suppliers average term |
Days |
n.c. |
n.c. |
n.c. |
94,66 |
|
Average
stock waiting period |
Days |
127,61 |
132,95 |
126,75 |
56,34 |
|
Rate
of capital employed return ( Turnover ) |
Units |
1,19 |
1,28 |
1,54 |
1,34 |
|
Rate
of stock return |
Units |
2,82 |
2,71 |
2,84 |
6,30 |
|
Labour
cost incidence |
% |
22,07 |
27,20 |
28,39 |
12,44 |
|
Net
financial revenues/ charges incidence |
% |
-0,49 |
-0,38 |
-0,24 |
-1,48 |
|
Labour
cost on purchasing expenses |
% |
22,12 |
26,42 |
25,89 |
12,90 |
|
Short-term
financing charges |
% |
0,81 |
0,73 |
0,65 |
3,49 |
|
Capital
on hand |
% |
83,96 |
78,26 |
65,05 |
74,43 |
|
Sales
pro employee |
Value |
149.178 |
122.288 |
116.226 |
253.464 |
|
Labour
cost pro employee |
Value |
32.920 |
33.265 |
32.992 |
32.147 |
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 923 significant companies.
The
companies cash their credits on an average of 101 dd.
The
average duration of suppliers debts is about 95 dd.
The
sector's profitability is on an average of 2,67%.
The
labour cost affects the turnover in the measure of 12,44%.
Goods
are held in stock in a range of 56 dd.
The
difference between the sales volume and the resources used to realize it is
about 1,34.
The
employees costs represent the 12,90% of the production costs.
Statistical
Detrimental Data
Statistically
the trade activity passes through serious crises.
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 68.14 |
|
|
1 |
INR 90.27 |
|
Euro |
1 |
INR 79.34 |
|
ITL |
1 |
INR 79.87 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
VIV |
|
|
|
|
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.