MIRA INFORM REPORT

 

 

Report Date :           

09.02.2012

 

IDENTIFICATION DETAILS

 

Correct Name :

SCHMIETEX ENGINEERING GmbH

 

 

Registered Office :

August-Bebel-Str. 26f, D 09577 Niederwiesa

 

 

Country :

Germany

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

13.08.2003

 

 

Com. Reg. No.:

HRB 20955

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Wholesale of machinery for the textile industry and of sewing and knitting machines

 

 

No. of Employees :

07

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

15,000 EUR

Status :

Moderate

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 – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

Germany

a1

a1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name

 

SCHMIETEX ENGINEERING GmbH

 

 

Company address

 

August-Bebel-Str. 26f

D 09577 Niederwiesa

Telephone:        037206/887094

Telefax:             037206/887095

Homepage:        www.schmietex.com

E-mail:              info@schmietex.com

 

 

VAT no        

 

DE230350727

 

 

Tax ID number

 

220/119/00163

 

 

Synthesis

 

LEGAL FORM               Private limited company

Date of foundation:         13.08.2003

Shareholders'

agreement:                    13.08.2003

Registered on:               21.10.2003

Commercial Register:     Local court 09130 Chemnitz

under:                                       HRB 20955

Share capital:                 EUR             25,000.00

 

 

Shareholder

 

Matthias Wilhelm Schmiedl

August-Bebel-Str. 26f

D 09577 Niederwiesa

born: 28.04.1952

Share:             EUR             25,000.00

Manager

 

Matthias Wilhelm Schmiedl

August-Bebel-Str. 26f

D 09577 Niederwiesa

having sole power of representation

born: 28.04.1952

Profession: Fully qualified economist

 

Further functions/participations of Matthias Wilhelm Schmiedl (Manager)

 

Proprietor:

                     Matthias Schmiedl

                     August-Bebel-Str. 26f OT

                     Lichtenwalde

                     D 09577 Niederwiesa

                     Legal form: Unregistered commercial

                                 enterprise

Shareholder:

                     Technitex-Sachsen GmbH

                     Altchemnitzer Str. 27

                     D 09120 Chemnitz

                     Legal form: Private limited company

                     Share capital:     EUR             25,000.00

                     Share:             EUR             12,500.00

                     Registered

                     on:         20.03.2009

                     Reg. data:  09130 Chemnitz, HRB 24823

 

 

BUSINESS ACTIVITIES

 

Sectors

46640   Wholesale of machinery for the textile industry and of sewing and knitting machines

 

 

FINANCIAL INFORMATION

 

Payment experience:     within agreed terms

Negative information:      We have no negative information at hand.

Maximum credit:            15,000 EUR

Balance sheet year:       2010

 

REAL ESTATE

 

Type of ownership:         Tenant

Address                        August-Bebel-Str. 26f

                                    D 09577 Niederwiesa

 

Real Estate of:               Matthias Wilhelm Schmiedl

Type of ownership:         unknown

Address                        August-Bebel-Str. 26f

                                    D 09577 Niederwiesa

 

Land register documents were not available.

 

 

BANKERS

 

DEUTSCHE BANK PRIVAT UND GESCHÄFTSKUNDEN, CHEMNITZ, SACHS

Sort. code: 87070024, Account no.: 1000355, BIC: DEUTDEDBCHE

 

 

FINANCIAL FIGURES

 

Turnover:            2010               EUR            750,000.00

Profit:              2010               EUR               -182.00

Ac/ts receivable:                       EUR             62,277.00

Liabilities:                           EUR            253,848.00

Employees:                                                      7

 

The aforementioned business figures may partly be estimated information based on average values in the line of business.

 

 

BALANCE SHEETS

 

Balance sheet ratios 01.01.2010 - 31.12.2010

Equity ratio [%]:                 37.27

Liquidity ratio:                   0.25

Return on total capital [%]:      -0.04

 

Balance sheet ratios 01.01.2009 - 31.12.2009

Equity ratio [%]:                 70.79

Liquidity ratio:                  10.00

Return on total capital [%]:       0.18

 

Balance sheet ratios 01.01.2008 - 31.12.2008

Equity ratio [%]:                 51.16

Liquidity ratio:                   0.55

Return on total capital [%]:      -0.27

 

Balance sheet ratios 01.01.2007 - 31.12.2007

Equity ratio [%]:                 47.34

Liquidity ratio:                   1.18

Return on total capital [%]:       2.52

 

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.

 

Balance sheet grade

The balance sheet grade is based on the following ratios: equity ratio, liquidity ratio and return on total capital from the balance sheets published in the Federal Gazette.

 

Type of balance

sheet:               Company balance sheet

 

Financial year:      01.01.2010 - 31.12.2010

 

ASSETS                                  EUR            414,664.91

 Fixed assets                           EUR             25,080.00

  Tangible assets                       EUR             25,080.00

   Other / unspecified tangible assets  EUR             25,080.00

 Current assets                         EUR            389,584.91

  Stocks                                EUR            325,000.00

  Accounts receivable                   EUR             62,277.09

   Other debtors and assets             EUR             62,277.09

  Liquid means                          EUR              2,307.82

 

LIABILITIES                             EUR            414,664.91

 Shareholders' equity                   EUR            154,528.00

  Capital                               EUR             25,000.00

   Subscribed capital (share capital)   EUR             25,000.00

  Balance sheet profit/loss (+/-)       EUR            129,528.00

   Profit / loss brought forward        EUR            129,710.09

   Annual surplus / annual deficit      EUR               -182.09

 Provisions                             EUR              6,288.62

 Liabilities                            EUR            253,848.29

  Other liabilities                     EUR            253,848.29

   Unspecified other liabilities        EUR            253,848.29

 

Type of balance

sheet:               Company balance sheet

 

Financial year:      01.01.2009 - 31.12.2009

 

ASSETS                                  EUR            260,932.78

 Fixed assets                           EUR             34,386.00

  Tangible assets                       EUR             34,386.00

   Other / unspecified tangible assets  EUR             34,386.00

 Current assets                         EUR            226,546.78

  Stocks                                EUR            113,000.00

  Accounts receivable                   EUR             36,333.48

   Other debtors and assets             EUR             36,333.48

  Liquid means                          EUR             77,213.30

 

LIABILITIES                             EUR            260,932.78

 Shareholders' equity                   EUR            184,710.09

  Capital                               EUR             25,000.00

   Subscribed capital (share capital)   EUR             25,000.00

  Balance sheet profit/loss (+/-)       EUR            159,710.09

   Profit / loss brought forward        EUR            159,236.05

   Annual surplus / annual deficit      EUR                474.04

 Provisions                             EUR              6,021.10

 Liabilities                            EUR             70,201.59

  Other liabilities                     EUR             70,201.59

   Unspecified other liabilities        EUR             70,201.59

 

There may have been some changes since our last research took place. Therefore, a freshly researched report will follow shortly.

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.07

UK Pound

1

Rs.78.09

Euro

1

Rs.65.15

 

 

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

----

NB

New Business

----

 

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%)

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.