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MIRA INFORM REPORT
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Report No. : |
497664 |
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Report Date : |
17.03.2018 |
IDENTIFICATION DETAILS
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Name : |
BUONARROTI SRL |
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Registered Office : |
Via Massimo
D'antona, SCN, 63812 – Montegranaro (FM) |
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Country : |
Italy |
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Financials (as on) : |
31.12.2016 |
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Date of Incorporation : |
29.05.2013 |
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Legal Form : |
Sole-Member Limited Liability Company |
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Line of Business : |
Manufacture of Other Luggage, Handbags and Similars,
Leather Goods and Saddlery |
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No. of Employees : |
From 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 : |
B |
|
Credit Rating |
Explanation |
Rating Comments |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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Status : |
Moderate |
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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 (30.09.2017) |
Current Rating (31.12.2017) |
|
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’s economy compromises 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 & address
BUONARROTI SRL
Via Massimo
D'antona, SCN
63812 –
Montegranaro (FM) -IT-
Summary
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Fiscal Code |
: |
01825890435 |
|
Legal Form |
: |
Sole-Member Limited Liability Company |
|
start of Activities |
: |
07/06/2013 |
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Equity |
: |
125.000 |
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Turnover Range |
: |
1.500.000/2.000.000 |
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Number of Employees |
: |
From 6 To 10 |
Activity
Manufacture of other luggage, handbags and
similars, leather goods and saddlery
Legal Data
Legal Form : Sole-Member Limited Liability
Company
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Register of Handcraft firms : 59169 |
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Register of Handcraft firms : 71474 |
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Register of Handcraft firms : 71474 of
Fermo |
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Register of Handcraft firms : 59169 of
Macerata |
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Fiscal Code : 01825890435 |
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Chamber of Commerce no. : 199218 of Fermo
since 13/10/2014 |
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Chamber of Commerce no. : 184897 of
Macerata since 10/06/2013 |
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V.A.T. Code : 01825890435 |
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Establishment date |
: 29/05/2013 |
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Start of Activities |
: 07/06/2013 |
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Legal duration |
: 31/12/2050 |
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Nominal Capital |
: 99.000 |
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Subscribed Capital |
: 99.000 |
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Paid up Capital |
: 99.000 |
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Legal mail : |
PELLETTERIABUONARROTI@PEC.IT |
Members
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Passarini |
Paola |
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Born in Macerata |
(MC) |
on 22/01/1975 |
- Fiscal Code : PSSPLA75A62E783S |
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Residence: |
San Rustico |
, 52 |
- 63815 |
Monte San Pietrangeli |
(FM) |
- IT - |
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Position |
Since |
Shares Amount |
% Ownership |
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Sole partner |
07/06/2013 |
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No Prejudicial events are reported |
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No Protests registered |
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Saldari |
Anna Maria |
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Born in Corridonia |
(MC) |
on 16/11/1940 |
- Fiscal Code : SLDNMR40S56D042C |
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Residence: |
Della Portarella |
, 37 |
- 62014 |
Corridonia |
(MC) |
- IT - |
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Position |
Since |
Shares Amount |
% Ownership |
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Sole Director |
29/01/2018 |
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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 |
|
Passarini Paola |
Monte San Pietrangeli - IT - |
PSSPLA75A62E783S |
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 |
(Workshop) |
|
Massimo D'antona |
, SCN |
- 63014 |
- Montegranaro |
(FM) |
- IT - |
|
Legal mail |
: PELLETTERIABUONARROTI@PEC.IT |
|
- |
Legal and operative seat |
(Workshop) |
until 12/10/2014 |
|
Enrico Mattei |
, 8 |
- 62010 |
- Pollenza |
(MC) |
- IT - |
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Employees |
: 6 |
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Assistants |
: 1 |
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Fittings and Equipment for a value of
11.000 |
Eur |
|
Stocks for a value of 500.000 |
Eur |
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
Company's starting of activities dates back
to some years ago (2013).
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. with a loss in the last financial year.
The operating result was positive in the last
financial year (6,49%) and in line with the sector's average.
An operating result of Eur. 87.116 has been
registered. , with no sizeable change as opposed to the year before.
A gross operating margine for a value of Eur.
93.297 was reached. with no sensible increase as against 2015.
The ratio between shareholder's equity and
borrowed capital is not well balanced, the indebtedness level is equal to 7,59
falling if compared to 2015.
The management generated equity capital for
an amount of Eur. 117.516 , unchanged if compared to 2015.
Total indebtedness was equal to Eur.
1.199.111 (Eur. 298.253 was the value of m/l term debts) with a downward trend
if compared to the preceding year (-25,54%).
Available funds are good.
Managerial cash flow has a minus sign and is
equal to Eur. -10.074.
In the last financial year labour cost was of
Eur. 147.823, with a 8,32% incidence on total costs of production. , whereas
the incidence on sales revenues is of 7,94%.
High incidence of financial charges on
turnover.
Financial Data
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Complete balance-sheet for the year |
al 31/12/2016 |
(in Eur |
x 1) |
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Item Type |
Value |
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Sales |
1.861.073 |
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Profit (Loss) for the period |
-16.255 |
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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 |
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Sales |
1.938.140 |
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Profit (Loss) for the period |
6.231 |
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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 |
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Sales |
1.912.287 |
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Profit (Loss) for the period |
17.435 |
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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 |
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Sales |
620.755 |
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Profit (Loss) for the period |
11.105 |
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 |
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COMPOSITION ON INVESTMENT |
|||||
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Rigidity Ratio |
Units |
0,03 |
0,01 |
0,02 |
0,18 |
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Elasticity Ratio |
Units |
0,97 |
0,98 |
0,98 |
0,80 |
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Availability of stock |
Units |
0,37 |
0,36 |
0,41 |
0,20 |
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Total Liquidity Ratio |
Units |
0,60 |
0,62 |
0,58 |
0,51 |
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Quick Ratio |
Units |
0,01 |
0,02 |
0,01 |
0,02 |
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COMPOSITION ON SOURCE |
|||||
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Net Short-term indebtedness |
Units |
7,59 |
11,31 |
35,57 |
2,38 |
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Self Financing Ratio |
Units |
0,09 |
0,08 |
0,03 |
0,24 |
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Capital protection Ratio |
Units |
0,30 |
0,21 |
0,29 |
0,68 |
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Liabilities consolidation quotient |
Units |
0,35 |
0,05 |
0,00 |
0,18 |
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Financing |
Units |
10,20 |
12,04 |
36,01 |
2,86 |
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Permanent Indebtedness Ratio |
Units |
0,32 |
0,12 |
0,03 |
0,38 |
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M/L term Debts Ratio |
Units |
0,23 |
0,04 |
0,00 |
0,11 |
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Net Financial Indebtedness Ratio |
Units |
n.c. |
3,96 |
8,25 |
1,00 |
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CORRELATION |
|||||
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Fixed assets ratio |
Units |
11,00 |
8,89 |
1,77 |
1,78 |
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Current ratio |
Units |
1,44 |
1,13 |
1,02 |
1,25 |
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Acid Test Ratio-Liquidity Ratio |
Units |
0,89 |
0,71 |
0,60 |
0,84 |
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Structure's primary quotient |
Units |
3,01 |
5,61 |
1,71 |
1,07 |
|
Treasury's primary quotient |
Units |
0,01 |
0,02 |
0,01 |
0,03 |
|
Rate of indebtedness ( Leverage ) |
% |
1142,57 |
1319,17 |
3738,20 |
408,81 |
|
Current Capital ( net ) |
Value |
396.819 |
192.789 |
28.801 |
312.424 |
|
RETURN |
|||||
|
Return on Sales |
% |
-0,54 |
0,58 |
1,04 |
2,67 |
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Return on Equity - Net- ( R.O.E. ) |
% |
-13,83 |
4,66 |
45,24 |
3,20 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
6,65 |
26,26 |
94,66 |
8,58 |
|
Return on Investment ( R.O.I. ) |
% |
6,49 |
5,86 |
5,56 |
4,36 |
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Return/ Sales |
% |
4,68 |
5,34 |
4,19 |
3,63 |
|
Extra Management revenues/charges incid. |
% |
-18,66 |
6,02 |
21,77 |
23,99 |
|
Cash Flow |
Value |
-10.074 |
11.325 |
19.842 |
112.609 |
|
Operating Profit |
Value |
87.116 |
103.438 |
80.073 |
127.644 |
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Gross Operating Margin |
Value |
93.297 |
108.532 |
82.480 |
230.719 |
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MANAGEMENT |
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Credits to clients average term |
Days |
n.c. |
188,12 |
130,68 |
101,46 |
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Debts to suppliers average term |
Days |
n.c. |
209,77 |
160,68 |
94,66 |
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Average stock waiting period |
Days |
96,01 |
118,45 |
110,27 |
56,34 |
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Rate of capital employed return ( Turnover
) |
Units |
1,39 |
1,10 |
1,33 |
1,34 |
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Rate of stock return |
Units |
3,75 |
3,04 |
3,26 |
6,30 |
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Labour cost incidence |
% |
7,94 |
6,95 |
1,40 |
12,44 |
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Net financial revenues/ charges incidence |
% |
-4,26 |
-3,52 |
-2,28 |
-1,48 |
|
Labour cost on purchasing expenses |
% |
8,32 |
7,33 |
1,46 |
12,90 |
|
Short-term financing charges |
% |
6,62 |
4,25 |
3,14 |
3,49 |
|
Capital on hand |
% |
72,15 |
91,05 |
75,34 |
74,43 |
|
Sales pro employee |
Value |
465.268 |
484.535 |
1.912.287 |
253.464 |
|
Labour cost pro employee |
Value |
36.955 |
33.654 |
26.702 |
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
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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 .) :
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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 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.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 64.87 |
|
|
1 |
INR 90.49 |
|
Euro |
1 |
INR 79.91 |
|
Euro |
1 |
INR 80.02 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
PRI |
|
|
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|
Report Prepared
by : |
TPT |
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.