MIRA INFORM
REPORT
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Report Date : |
24.02.2011 |
IDENTIFICATION DETAILS
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Name : |
GFE-MIR GMBH |
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Registered Office : |
Kreuzstr. 34, D 40210 Düsseldorf |
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Country : |
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Financials (as on) : |
30.06.2010 |
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Date of Incorporation : |
23.07.2003 |
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Com. Reg. No.: |
HRB 48314 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Wholesaler of non-ferrous ores, metals and metal semi-finished goods |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
250.000 EUR |
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Status : |
Satisfactory |
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Payment
Behaviour : |
No Complaints |
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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 – June 30, 2010
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Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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a1 |
a1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company name & address
GfE-MIR GmbH
Main address:
Kreuzstr. 34
D 40210 Düsseldorf
Telephone: 0211/86608-0
Telefax:
0211/86608-17
Homepage: www.gfe-mir.de
Synthesis
LEGAL FORM Private limited company
Date of foundation: 2003
Shareholders'
agreement: 15.05.2003
Registered on: 23.07.2003
Commercial Register: Local
court 40213 Düsseldorf
under: HRB 48314
Share capital:
EUR 25.000,00
Shareholder
Veromet Holdings Limited
CY - Limassol
Legal form: Other legal form
Share: EUR 25.000,00
Manager
Karl Steffen Fischer
D 40210 Düsseldorf
authorized to jointly represent the company
born: 03.02.1967
COMPANY HISTORY
23.07.2003 - 28.01.2004 LAGO
Einundzwanzigste GmbH
Mendelssohnstr. 4
D 40233 Düsseldorf
Private
limited company
29.01.2004 - 10.03.2004 LAGO
Einundzwanzigste GmbH
Kreuzstr.
34
D 40210
Düsseldorf
Private
limited company
10.03.2004 - 16.04.2004 GfE-Mir
GmbH
Kreuzstr.
34
D 40210
Düsseldorf
Private
limited company
BUSINESS ACTIVITIES
Sectors
46722 Wholesale of non-ferrous
ores, metals and metal semi-finished goods
FINANCIAL INFORMATION
Payment experience: within
periods customary in this trade
Negative information: We have
no negative information at hand.
Maximum credit: 250.000 EUR
Balance sheet year: 2009/2010
REAL ESTATE
Type of ownership: Tenant
Address Kreuzstr. 34
D 40210 Düsseldorf
Land register documents were not available.
BANKERS
Principal bank
COMMERZBANK,
Sort. code: 36040039, BIC: COBADEFF360
Further banks
DEUTSCHE BANK, DÜSSELDORF
Sort. code: 30070010, BIC: DEUTDEDDXXX
COMMERZBANK, DÜSSELDORF
Sort. code: 30040000, BIC: COBADEDDXXX
COMMERZBANK VORMALS DRESDNER BANK, DÜSSELDORF
Sort. code: 30080000, BIC: DRESDEFF300
FINANCIAL FIGURES
Turnover: 2008/2009 EUR 134.866.180,00
2009/2010 EUR 71.953.337,00
Profit: 2008/2009 EUR 848.552,00
2009/2010 EUR -983.155,00
further
business figures:
Employees:
22
-
Part-time employees: 1
BALANCE SHEETS
Balance
sheet ratios 2009/2010
Equity
ratio [%]: 15,31
Liquidity
ratio: 0,45
Return
on total capital [%]: -4,42
Balance
sheet ratios 2009
Equity
ratio [%]: 21,11
Liquidity
ratio: 0,41
Return
on total capital [%]: -12,38
Balance
sheet ratios 2008
Equity
ratio [%]: 72,55
Liquidity
ratio: 5,02
Return
on total capital [%]: 3,30
Balance
sheet ratios 2007
Equity
ratio [%]: 16,20
Liquidity
ratio: 0,36
Return
on total capital [%]: 1,04
Equity ratio
The equity ratio indicates the portion of the equity as compared
to the total capital. The higher the equity ratio, the better the
economic stability (solvency) and thus the financial autonomy of
a company.
Liquidity ratio
The liquidity ratio shows the proportion between adjusted
receivables and net liabilities. The higher the ratio, the lower
the company's financial dependancy from external creditors.
Return on total capital
The return on total capital shows the efficiency and return on
the total capital employed in the company. The higher the return
on total capital, the more economically does the company work
with the invested capital.
Type of balance
sheet: Company
balance sheet
Financial
year: 01.07.2009 - 30.06.2010
ASSETS EUR 23.145.388,62
Fixed assets EUR 1.820.897,17
Intangible assets EUR 977.775,86
Concessions, licences, rights EUR
35.737,42
Goodwill EUR 942.038,44
Tangible assets EUR 783.675,42
Land / similar rights EUR 675.355,37
Other tangible assets / fixtures and
fittings
EUR 108.320,05
Financial assets EUR 59.445,89
Shares in participations /
subsidiaries and the like EUR 59.445,89
Shares in related companies EUR 59.445,89
Current assets EUR 20.855.822,56
Stocks EUR 13.250.854,61
Finished goods / work in progress EUR
13.215.289,48
Advance payments made EUR 35.565,13
Accounts receivable EUR 6.844.818,55
Trade debtors EUR 876.331,86
Amounts due from related companies EUR
1.762.626,76
Other debtors and assets EUR 4.205.859,93
Liquid means EUR 760.149,40
Remaining other assets EUR 468.668,89
Accruals (assets) EUR 63.812,49
Deficit not covered by shareholders'
equity EUR 404.856,40
LIABILITIES EUR 23.145.388,62
Shareholders' equity EUR 0,00
Capital EUR 25.000,00
Subscribed capital (share capital) EUR 25.000,00
Reserves EUR 209.074,76
Capital reserves EUR 209.074,76
Balance sheet profit/loss (+/-) EUR -638.931,16
Profit / loss brought forward EUR 344.224,04
Annual surplus / annual deficit EUR -983.155,20
Provisions EUR 2.335.825,86
Pension provisions and comparable
provisions EUR 401.012,00
Provisions for taxes EUR 529.498,78
Other / unspecified provisions EUR 1.405.315,08
Liabilities
EUR 20.809.562,76
thereof total due to shareholders EUR 4.753.144,85
Financial debts EUR 11.759.357,42
Liabilities due to banks EUR 11.759.357,42
Other liabilities EUR 9.050.205,34
Trade creditors (for IAS incl. bills
of exchange) EUR 1.595.418,94
Liabililties due to related
companiesEUR 7.413.591,02
Unspecified other liabilities EUR 41.195,38
Profit
and loss account (cost-summary method) according to Comm.
Code
(HGB)
Sales EUR 71.953.337,01
Other operating income EUR 435.258,85
Cost of materials EUR 65.616.917,76
Raw materials and supplies, purchased
goods EUR 63.947.315,87
Purchased services EUR 1.669.601,89
Gross result (+/-) EUR 6.771.678,10
Staff expenses EUR 1.727.096,87
Wages and salaries EUR 1.415.779,35
Social security contributions and
expenses for pension plans and
benefits
EUR 311.317,52
Total depreciation EUR 196.185,47
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus. EUR 196.185,47
Other operating expenses EUR 4.879.039,04
Operating result from continuing
operations EUR -30.643,28
Interest result (+/-) EUR -495.838,87
Interest and similar income EUR 37.515,64
Interest and similar expenses EUR 533.354,51
thereof paid to related companies EUR 112.559,49
Financial result (+/-) EUR -495.838,87
Result from ordinary operations (+/-) EUR
-526.482,15
Income tax / refund of income tax
(+/-)EUR -448.000,00
Other taxes / refund of taxes EUR -8.673,05
Tax (+/-) EUR -456.673,05
Annual surplus / annual deficit EUR -983.155,20
Type
of balance
sheet: Company balance sheet
Financial
year: 01.01.2009 - 30.06.2009
ASSETS EUR 17.239.376,57
Fixed assets EUR 1.932.350,63
Intangible assets EUR 1.108.090,40
Concessions, licences, rights EUR 57.355,24
Goodwill EUR 1.050.735,16
Tangible assets EUR 764.814,34
Land / similar rights EUR 689.697,89
Other tangible assets / fixtures and
fittings EUR 75.116,45
Financial assets EUR 59.445,89
Shares in participations /
subsidiaries and the like EUR 59.445,89
Shares in related companies EUR 59.445,89
Current assets EUR 15.236.386,97
Stocks EUR 9.967.389,54
Raw materials, consumables and
supplies EUR 24.107,40
Finished goods / work in progress EUR
9.615.299,37
Advance payments made EUR 327.982,77
Accounts receivable EUR 3.789.136,48
Trade debtors EUR 745.640,77
Amounts due from related companies EUR
1.115.252,97
Other debtors and assets EUR 1.928.242,74
Liquid means EUR 1.479.860,95
Remaining other assets EUR 70.638,97
Accruals (assets) EUR 70.638,97
LIABILITIES EUR 17.239.376,57
Shareholders' equity EUR 578.298,80
Capital EUR 25.000,00
Subscribed capital (share capital) EUR
25.000,00
Reserves EUR 209.074,76
Capital reserves EUR 209.074,76
Balance sheet profit/loss (+/-) EUR 344.224,04
Profit / loss brought forward EUR
2.409.809,30
Annual surplus / annual deficit EUR -2.065.585,26
Provisions EUR 1.997.971,66
Pension provisions and comparable
provisions EUR 410.034,00
Provisions for taxes EUR 595.604,00
Other / unspecified provisions EUR 992.333,66
Liabilities EUR 14.663.106,11
thereof total due to shareholders EUR 3.994.480,00
Financial debts EUR 8.312.323,93
Liabilities due to banks EUR 8.312.323,93
Other liabilities EUR 6.350.782,18
Trade creditors (for IAS incl. bills
of exchange) EUR 1.268.951,62
Liabililties due to related
companiesEUR 4.939.298,66
Unspecified other liabilities EUR 142.531,90
Profit
and loss account (cost-summary method) according to Comm.
Code
(HGB)
Sales EUR 25.531.788,21
Other operating income EUR 409.012,88
Cost of materials EUR 24.567.188,99
Raw materials and supplies, purchased
goods EUR 23.806.714,73
Purchased services EUR 760.474,26
Gross result (+/-) EUR 1.373.612,10
Staff expenses EUR 1.009.592,78
Wages and salaries EUR 839.498,24
Social security contributions and
expenses for pension plans and
benefits EUR 170.094,54
Total depreciation EUR 91.073,47
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus. EUR 91.073,47
Other operating expenses EUR 2.109.424,56
Operating result from continuing
operations EUR -1.836.478,71
Interest result (+/-) EUR -302.956,67
Interest and similar income EUR 22.823,63
Interest and similar expenses EUR
325.780,30
thereof paid to related companies EUR 131.198,31
Financial result (+/-) EUR -302.956,67
Result from ordinary operations (+/-) EUR
-2.139.435,38
Income tax / refund of income tax (+/-)EUR 80.945,00
Other taxes / refund of taxes EUR -7.094,88
Tax (+/-) EUR 73.850,12
Annual
surplus / annual deficit EUR -2.065.585,26
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.20 |
|
|
1 |
Rs.73.17 |
|
Euro |
1 |
Rs.61.88 |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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 and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.