MIRA INFORM
REPORT
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Report Date : |
31.05.2011 |
IDENTIFICATION DETAILS
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Name : |
ELASTIC TEXTILE EUROPE GMBH |
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Registered Office : |
Hersfelder Str.
31-36, D 34626 Neukirchen |
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Country : |
Germany |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
20.02.2008 |
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Com. Reg. No.: |
HRB 5348 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacturing of knitted and crocheted
fabrics |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
77.000 EUR |
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Status : |
Satisfactory |
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Payment
Behaviour : |
Regular |
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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 – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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Germany |
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 |
Bottom of Form
Company name & address
Elastic Textile
Europe GmbH
Main address:
Hersfelder Str.
31-36
D 34626 Neukirchen
Telephone: 06694/806-0
Telefax: 06694/806-101
Homepage: www.elastic.de
E-mail: info@elastic.de
VAT no
DE814908870
Synthesis
LEGAL FORM Private
limited company
Date of foundation: 01.01.2007
Shareholders'
agreement: 11.10.2007
Registered on: 20.02.2008
Commercial Register: Local court 35037 Marburg
under: HRB
5348
Share capital: EUR 100.000,00
Shareholder
Elastic Holding
GmbH
Hersfelder Str.
31-36
D 34626 Neukirchen
Legal form:
Private limited company
Share
capital: EUR 25.000,00
Share: EUR 100.000,00
Registered on:
14.04.2008
Reg. data: 35037
Marburg, HRB 5371
Control and profit
transfer agreement
Manager
Falco Weidemeyer
Holbeinstr. 37
D 60596 Frankfurt
having sole power
of representation
born: 22.02.1972
Marital status:
unknown
Further functions/participations of Falco Weidemeyer (Manager)
Shareholder:
Textile Industry
Holding Neukirchen GmbH
Hersfelder Str. 31
D 34626 Neukirchen
Legal form:
Private limited company
Share
capital: EUR 2.560.000,00
Share: EUR 1.331.200,00
Registered
on: 19.07.1958
Reg. data: 35037 Marburg, HRB 4265
Shareholder:
Elastic Holding
GmbH
Hersfelder Str.
31-36
D 34626 Neukirchen
Legal form:
Private limited company
Share
capital: EUR 25.000,00
Share: EUR 2.000,00
Registered
on: 14.04.2008
Reg. data: 35037 Marburg, HRB 5371
Manager:
Textile Industry
Holding Neukirchen GmbH
Hersfelder Str. 31
D 34626 Neukirchen
Legal form:
Private limited company
Share
capital: EUR 2.560.000,00
Registered
on: 19.07.1958
Reg. data: 35037 Marburg, HRB 4265
Manager:
Elastic Holding
GmbH
Hersfelder Str.
31-36
D 34626 Neukirchen
Legal form:
Private limited company
Share
capital: EUR 25.000,00
Registered
on: 14.04.2008
Reg. data: 35037 Marburg, HRB 5371
COMPANY HISTORY
17.10.2007 - 26.01.2008 Blitz F07-dreihundert-vierzigsechs GmbH
Mainzer Landstr. 47
D 60329 Frankfurt
Private limited company
26.01.2008 - 21.02.2008 Blitz F07-dreihundert-vierzigsechs GmbH
Reuterweg 20
D 60323 Frankfurt
Private limited
company
21.02.2008 - 21.02.2008 Elastic Textile Europe GmbH
D 34626 Neukirchen
Private limited
company
BUSINESS ACTIVITIES
Sectors
1391
Manufacturing of knitted and crocheted fabrics
4641
Wholesale of textiles
FINANCIAL INFORMATION
Payment experience: Within
periods customary in this trade
Negative information: We have no negative information at hand.
Maximum credit: 77.000
EUR
Balance sheet year: 2009
REAL ESTATE
Type of ownership: Tenant
Address Hersfelder
Str. 31-36
D 34626 Neukirchen
Real Estate of:: Falco
Weidemeyer
Type of ownership: unknown
Address Holbeinstr.
37
D 60596 Frankfurt
Land register documents were not available.
BANKERS
CREDIT- UND VOLKSBANK WUPPERTAL, WUPPERTAL
Sort. code: 33060098, BIC: GENODED1CVW
DEUTSCHE BANK, BAD HERSFELD
Sort. code: 53270012, BIC: DEUTDEFF532
COMMERZBANK VORMALS DRESDNER BANK, BAD
HERSFELD
Sort. code: 53280081, BIC: DRESDEFF532
KREISSPARKASSE SCHWALM-EDER, MELSUNGEN
Sort. code: 52052154, BIC: HELADEF1MEG
FINANCIAL FIGURES
Gross profit or loss:2009 EUR 5.931.472,00
Profit:
2009 EUR -2.434.048,00
Employees: 143
- Trainees:
3
Control and profit transfer agreement to:
Elastic Holding
GmbH
Hersfelder Str.
31-36
D 34626 Neukirchen
BALANCE SHEETS
Balance sheet ratios 2009
Equity ratio [%]: 38,59
Liquidity ratio: 0,13
Return on total capital [%]: -26,37
Balance sheet ratios 2008
Equity ratio [%]: 29,74
Liquidity ratio: 0,17
Return on total capital [%]: -13,36
Balance sheet ratios 2007
Equity ratio [%]: 1,47
Liquidity ratio: 0,03
Return on total capital [%]: -0,18
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:
01.01.2009 - 31.12.2009
ASSETS EUR 12.471.733,09
Fixed
assets EUR 3.398.536,07
Intangible
assets EUR 658.849,50
Other /
unspecified intangible assetsEUR
658.849,50
Tangible
assets EUR 2.599.493,67
Other /
unspecified tangible assets EUR 2.599.493,67
Financial
assets EUR 140.192,90
Other /
unspecified financial assets EUR
140.192,90
Current
assets EUR 4.948.457,98
Stocks EUR 4.196.236,06
Accounts
receivable EUR 646.529,39
Other
debtors and assets EUR 646.529,39
Liquid
means EUR 105.692,53
Remaining
other assets EUR
4.124.739,04
Accruals
(assets) EUR 52.756,60
Deficit not
covered by shareholders'
equity EUR 4.071.982,44
LIABILITIES EUR 12.471.733,09
Shareholders'
equity EUR 0,00
Capital EUR 100.000,00
Subscribed
capital (share capital) EUR 100.000,00
Balance
sheet profit/loss (+/-) EUR -4.171.982,44
Profit /
loss brought forward EUR -1.737.934,42
Annual
surplus / annual deficit EUR -2.434.048,02
Other
shareholders' equity (+/-) EUR 4.071.982,44
Deficit not
covered by shareholders'
equity EUR 4.071.982,44
Provisions EUR 373.234,46
Liabilities EUR 12.098.248,63
Other
liabilities EUR 12.098.248,63
Unspecified
other liabilities EUR 12.098.248,63
Other
liabilities EUR 250,00
Deferrals
(liabilities) EUR 250,00
Profit and loss account (cost-summary method) according
to Comm.
Code (HGB)
Gross result
(+/-) EUR 5.931.472,27
Staff
expenses EUR 4.038.896,03
Wages and
salaries EUR 3.386.930,79
Social
security contributions and
expenses for
pension plans and
benefits
EUR 651.965,24
Total
depreciation EUR 466.541,01
Depreciation
on tangible / intangible
asssets
(incl. start-up and exp. of
bus. EUR 466.541,01
Other
operating expenses EUR 2.992.361,39
Operating
result from continuing
operations EUR -1.566.326,16
Interest
result (+/-) EUR -397.908,49
Interest and
similar income EUR 10.895,76
thereof
from related companies EUR 7.766,96
Interest and
similar expenses EUR 408.804,25
thereof
paid to related companies EUR 309.342,97
Other
financial result EUR -130.000,00
Depreciation
on financial assets and
marketable
securities EUR 130.000,00
Financial
result (+/-) EUR -527.908,49
Result from
ordinary operations (+/-) EUR -2.094.234,65
Extraordinary
income EUR 62.630,06
Extraordinary
expenses EUR 383.470,79
Extraordinary
result (+/-) EUR -320.840,73
Other taxes /
refund of taxes EUR -18.972,64
Tax
(+/-)
EUR -18.972,64
Annual
surplus / annual deficit EUR -2.434.048,02
Type of balance
sheet: Company balance sheet
Financial year:
01.01.2008 - 31.12.2008
ASSETS EUR 11.158.693,46
Fixed
assets EUR 3.839.786,21
Intangible
assets EUR 738.501,00
Other /
unspecified intangible assetsEUR
738.501,00
Tangible
assets EUR 2.480.123,76
Other /
unspecified tangible assets EUR 2.480.123,76
Financial
assets EUR 621.161,45
Other /
unspecified financial assets EUR
621.161,45
Current
assets EUR 5.665.073,67
Stocks EUR 4.066.453,89
Accounts
receivable EUR 811.755,33
Other
debtors and assets EUR 811.755,33
Liquid
means EUR 786.864,45
Remaining
other assets EUR 1.653.833,58
Accruals
(assets) EUR 15.899,16
Deficit not
covered by shareholders'
equity EUR 1.637.934,42
LIABILITIES EUR 11.158.693,46
Shareholders'
equity EUR 0,00
Capital EUR 100.000,00
Subscribed
capital (share capital) EUR 100.000,00
Balance
sheet profit/loss (+/-) EUR -1.737.934,42
Profit /
loss brought forward EUR -2.728,07
Annual
surplus / annual deficit EUR -1.735.206,35
Other
shareholders' equity (+/-) EUR 1.637.934,42
Deficit not
covered by shareholders'
equity EUR 1.637.934,42
Provisions EUR 792.142,08
Liabilities EUR 10.366.301,38
Other
liabilities EUR 10.366.301,38
Unspecified
other liabilities EUR
10.366.301,38
Other
liabilities EUR 250,00
Deferrals
(liabilities) EUR 250,00
Profit and loss account (cost-summary method)
according to Comm.
Code (HGB)
Gross result
(+/-) EUR 7.660.806,04
Staff
expenses EUR 5.207.642,32
Wages and
salaries EUR 4.346.216,06
Social
security contributions and
expenses for
pension plans and
benefits EUR 861.426,26
Total
depreciation EUR 450.056,78
Depreciation
on tangible / intangible
asssets
(incl. start-up and exp. of
bus. EUR 450.056,78
Other
operating expenses EUR 3.057.123,76
Operating
result from continuing
operations EUR -1.054.016,82
Interest
result (+/-) EUR -151.489,54
Interest and
similar income EUR 22.797,49
thereof
from related companies EUR 10.823,39
Interest and
similar expenses EUR 174.287,03
thereof
paid to related companies EUR 43.759,04
Financial
result (+/-) EUR -151.489,54
Result from
ordinary operations (+/-) EUR -1.205.506,36
Extraordinary
expenses EUR 512.687,19
Other
extraordinary expenses EUR 512.687,19
Extraordinary
result (+/-) EUR -512.687,19
Other taxes /
refund of taxes EUR -17.012,80
Tax
(+/-)
EUR -17.012,80
Annual surplus / annual deficit EUR -1.735.206,35
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.10 |
|
UK Pound |
1 |
Rs.74.27 |
|
Euro |
1 |
Rs.64.35 |
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 |
|
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 |
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NB |
New Business |
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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.