MIRA
INFORM REPORT
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Report Date : |
02.07.2012 |
IDENTIFICATION DETAILS
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Name : |
LAPP INSULATORS GMBH |
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Registered Office : |
Bahnhofstrasse 5 Wunsiedel, 95632 |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
18.08.2000 |
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Com. Reg. No.: |
3247 |
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Legal Form : |
Private Subsidiary |
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Line of Business : |
Manufacture of electricity distribution and control apparatus |
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No. of Employees : |
280 |
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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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 – March 31st, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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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 and address
Lapp Insulators
GmbH
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Business Description
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Lapp Insulators GmbH is primarily engaged in manufacture of electrical
apparatus for switching or protecting electrical circuits, or for making
connections to or in electrical circuits (switches, fuses, lightning
arresters, voltage limiters, surge suppressors, plugs, junction boxes,
relays, sockets, lamp holders); and manufacture of electric control or
distribution boards, panels, consoles, desks, cabinets and other bases. |
Industry
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Industry |
Electronic Instruments and Controls |
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ANZSIC 2006: |
2439 - Other Electrical Equipment
Manufacturing |
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NACE 2002: |
3120 - Manufacture of electricity
distribution and control apparatus |
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NAICS 2002: |
335313 - Switchgear and Switchboard
Apparatus Manufacturing |
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3120 - Manufacture of electricity
distribution and control apparatus |
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US SIC 1987: |
3644 - Noncurrent-Carrying Wiring Devices |
Key Executives
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News
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1 - Profit &
Loss Item Exchange Rate: USD 1 = EUR 0.7550783
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7454064
Corporate Overview
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Corporate Structure News
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Lapp Insulators
GmbH |
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
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Lapp Insulators Holding GmbH |
Parent |
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Subsidiary |
Wunsiedel, Bayern |
Germany |
Electronic Instruments and Controls |
70.1 |
280 |
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Subsidiary |
Redwitz A.D.Rodach, Bayern |
Germany |
Electronic Instruments and Controls |
27.3 |
185 |
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Subsidiary |
Redwitz A.D.Rodach, Bayern |
Germany |
Construction - Raw Materials |
|
80 |
Executives Report
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Annual Profit
& Loss
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|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
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Period Length |
12 Months |
12 Months |
12 Months |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate
(Period Average) |
0.755078 |
0.719047 |
0.683679 |
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Consolidated |
No |
No |
No |
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Total income |
70.1 |
58.4 |
66.3 |
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Raw materials and services |
- |
26.2 |
30.2 |
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Net sales |
70.1 |
58.4 |
66.3 |
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Change in stock |
- |
-1.6 |
1.4 |
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Own work capitalised |
- |
0.0 |
0.1 |
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Other operating income |
1.8 |
0.7 |
0.7 |
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Raw materials and consumables employed |
- |
26.2 |
30.2 |
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Other external charges |
- |
0.4 |
0.6 |
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Cost of goods sold |
- |
26.6 |
30.8 |
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Cost of sales |
45.7 |
- |
- |
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Gross profit |
24.4 |
- |
- |
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Cost of raw materials |
- |
26.6 |
30.8 |
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Advertising, distribution, and commercial expenses |
8.8 |
- |
- |
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General expenses |
4.3 |
- |
- |
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Taxes and social security costs |
- |
3.0 |
3.3 |
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Total payroll costs |
- |
16.9 |
19.3 |
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Fixed asset depreciation and amortisation |
- |
1.3 |
1.8 |
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Other operating costs |
2.0 |
17.7 |
18.5 |
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Net operating income |
10.9 |
3.7 |
7.5 |
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Interest received from loans |
0.7 |
9.5 |
- |
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Income received from associated companies |
3.6 |
- |
- |
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Other income |
0.2 |
0.2 |
0.1 |
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Interest payable on loans |
2.6 |
2.6 |
2.0 |
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Other expenses |
- |
- |
0.4 |
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Total expenses |
-1.8 |
-1.0 |
2.3 |
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Profit before tax |
12.8 |
4.7 |
5.2 |
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Extraordinary income |
0.1 |
0.0 |
11.8 |
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Provisions |
7.7 |
4.1 |
6.0 |
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Extraordinary expenses |
0.0 |
- |
- |
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Extraordinary result |
0.1 |
0.0 |
11.8 |
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Other taxes |
- |
0.0 |
0.1 |
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Total taxation |
3.6 |
0.4 |
1.6 |
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Net profit |
9.2 |
4.3 |
15.2 |
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Annual Balance
Sheet |
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Financials in:
USD (mil) |
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31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate |
0.745406 |
0.696986 |
0.719399 |
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Consolidated |
No |
No |
No |
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Issued capital |
0.0 |
0.0 |
0.0 |
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Capital reserves |
13.5 |
14.4 |
14.0 |
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Profits for the year |
24.2 |
15.9 |
11.1 |
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Profit brought forward from previous year(s) |
- |
11.4 |
-3.4 |
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Total stockholders equity |
37.7 |
30.3 |
25.1 |
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Deferred taxation |
2.9 |
0.2 |
1.4 |
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Other provisions |
3.7 |
2.9 |
3.3 |
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Provision for pensions |
1.2 |
1.2 |
1.0 |
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Provisions and allowances |
7.8 |
4.2 |
5.7 |
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Convertible debentures |
6.7 |
7.2 |
7.0 |
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Other debentures |
6.7 |
21.7 |
24.7 |
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Taxes and social security |
- |
3.1 |
2.8 |
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Total long-term liabilities |
6.7 |
24.8 |
27.5 |
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Trade creditors |
1.2 |
2.7 |
2.8 |
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Advances received |
0.6 |
0.2 |
0.0 |
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Other loans |
4.9 |
3.8 |
3.0 |
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Taxation and social security |
3.4 |
0.2 |
0.2 |
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Due to group companies |
0.5 |
1.9 |
- |
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Total current liabilities |
10.6 |
8.8 |
6.0 |
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Total liabilities (including net worth) |
69.5 |
75.3 |
71.2 |
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Patents |
0.2 |
0.1 |
0.2 |
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Intangibles |
0.2 |
0.1 |
0.2 |
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Land and buildings |
2.5 |
2.6 |
2.6 |
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Machinery and tools |
2.7 |
3.0 |
3.5 |
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Fixtures and equipment |
2.5 |
2.6 |
2.6 |
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Fixed assets under construction |
0.1 |
0.2 |
0.1 |
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Total tangible fixed assets |
6.5 |
6.9 |
7.1 |
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Shares held in associated companies |
38.5 |
37.5 |
36.3 |
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Total financial assets |
38.5 |
37.5 |
36.3 |
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Total non-current assets |
45.2 |
44.5 |
43.6 |
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Raw materials |
2.6 |
3.2 |
3.6 |
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Work in progress |
3.9 |
4.5 |
5.4 |
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Finished goods |
4.2 |
2.3 |
2.8 |
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Prepayments |
0.1 |
0.1 |
- |
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Net stocks and work in progress |
10.7 |
10.2 |
11.8 |
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Trade debtors |
4.9 |
8.4 |
10.8 |
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Other receivables |
0.3 |
2.1 |
0.3 |
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Total receivables |
11.7 |
19.1 |
14.8 |
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Owing from associated companies |
6.4 |
8.6 |
3.7 |
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Cash and liquid assets |
1.9 |
1.4 |
0.9 |
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Total current assets |
24.3 |
30.7 |
27.5 |
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Prepaid expenses and deferred costs |
0.0 |
0.1 |
0.1 |
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Total assets |
69.5 |
75.3 |
71.2 |
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Annual Ratios |
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Financials in:
USD (mil) |
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|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
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Period Length |
12 Months |
12 Months |
12 Months |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate |
0.745406 |
0.696986 |
0.719399 |
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Consolidated |
No |
No |
No |
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Current ratio |
22.96 |
34.97 |
46.20 |
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Acid test ratio |
12.84 |
23.40 |
26.35 |
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Total liabilities to net worth |
0.05% |
0.11% |
0.13% |
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Net worth to total assets |
0.05% |
0.04% |
0.04% |
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Current liabilities to net worth |
0.03% |
0.03% |
0.02% |
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Current liabilities to stock |
0.10% |
0.09% |
0.05% |
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Fixed assets to net worth |
0.12% |
0.15% |
0.17% |
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Collection period |
252.00 |
507.00 |
624.00 |
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Stock turnover rate |
1.51 |
1.69 |
1.87 |
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Profit margin |
0.01% |
0.01% |
0.02% |
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Return on assets |
0.02% |
0.01% |
0.02% |
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Shareholders' return |
0.02% |
0.01% |
0.06% |
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Sales per employee |
18.63 |
15.26 |
14.39 |
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Profit per employee |
2.43 |
1.12 |
0.75 |
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Average wage per employee |
- |
4.42 |
4.19 |
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Net worth |
37.7 |
30.3 |
25.1 |
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Number of employees |
284 |
275 |
315 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.56.31 |
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|
1 |
Rs.88.06 |
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Euro |
1 |
Rs.70.91 |
INFORMATION DETAILS
|
Report Prepared
by : |
PRL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.