MIRA INFORM REPORT

 

 

 

 

Report Date :

11.09.2012

 

Germany - ECONOMIC OVERVIEW

 

The German economy - the fifth largest economy in the world in PPP terms and Europe's largest - is a leading exporter of machinery, vehicles, chemicals, and household equipment and benefits from a highly skilled labor force. Like its Western European neighbors, Germany faces significant demographic challenges to sustained long-term growth. Low fertility rates and declining net immigration are increasing pressure on the country's social welfare system and necessitate structural reforms. Reforms launched by the government of Chancellor Gerhard SCHROEDER (1998-2005), deemed necessary to address chronically high unemployment and low average growth, contributed to strong growth in 2006 and 2007 and falling unemployment. These advances, as well as a government subsidized, reduced working hour scheme, help explain the relatively modest increase in unemployment during the 2008-09 recession - the deepest since World War II - and its decrease to 6.0% in 2011. GDP contracted 5.1% in 2009 but grew by 3.6% in 2010, and 2.7% in 2011. The recovery was attributable primarily to rebounding manufacturing orders and exports - increasingly outside the Euro Zone. Germany's central bank projects that GDP will grow 0.6% in 2012, a reflection of the worsening euro-zone financial crisis and the financial burden it places on Germany as well as falling demand for German exports. Domestic demand is therefore becoming a more significant driver of Germany's economic expansion. Stimulus and stabilization efforts initiated in 2008 and 2009 and tax cuts introduced in Chancellor Angela MERKEL's second term increased Germany's budget deficit to 3.3% in 2010, but slower spending and higher tax revenues reduce the deficit to 1.7% in 2011, below the EU's 3% limit. A constitutional amendment approved in 2009 limits the federal government to structural deficits of no more than 0.35% of GDP per annum as of 2016. Following the March 2011 Fukushima nuclear disaster, Chancellor Angela Merkel announced in May 2011 that eight of the country's 17 nuclear reactors would be shut down immediately and the remaining plants would close by 2022. Germany hopes to replace nuclear power with renewable energy. Before the shutdown of the eight reactors, Germany relied on nuclear power for 23% of its energy and 46% of its base-load electrical production.

 

 

Source : CIA

 

Company name & address 

 

TARA Steel Trading GmbH

Grafenberger Allee 151

D 40237

Diisseldorf

Telephone:0211/69062-0

Telefax: 0211/69062-16

Homepage:  www.tarasteel.com

E-mail:       info@tarasteel.com 

 

 

Synthesis

 

Lehal form :                   Private Limited Company

Date of Foundation:        1996

Shareholders

Agreement:                   13.03.1996

Registered on :              22.05.1996

Commercial register:      Local Court 40213 Dusseldorf

Under:                           HRB 33411

Share capital                 EUR 3,500,000.00

 

 

Shareholder

 

Mobarakeh Steel Company IR Teheran

Legal  form:  Other legal form

Share:   EUR     1,7 50,000.00

 

Shareholder:

Fulad Met.il   (Privat AG)

IR  - Teheran

Legal form  Other legal form

Share:   EUR 750,000.00

 

 

Manager

 

Farhad Dianat Sabatgilani

D 40668 Meerbusch

having sole power of representation

born: 21.03.1956

Profession: Businessman

Further functions/participations of Farhad Dianat Sabatgilani (Manager)

 

Shareholder:

Palux metal GmbH

Am Meerkamp 2 4

D  40667 Meerbusch

Legal  form:   Private limited company

Share  capital:   EUR 200,000.00

Share;   EUR 200,000.00

Registered

on: 28.12.2011

Reg.   data:     41450  Neuss,   HRB 16425

 

Manager:

Palux metal GmbH

Am Meerkamp 2 4

D 40667 Meerbusch

Legal form:   Private limited company

Share  capital:   SUR 200,000.00

Registered on: 28.12.2011

Reg.   data:     41460 Neuss,   HRB 16425

 

 

COMPANY HISTORY

 

17.06.1996   -  30.09.1997          TARA Steel  Trading GmbH

Konigsallee 100

D  40215 Diicseldorf

Private limited company

 

 

BUSINESS ACTIVITIES

 

Sectors

46692 Wholesale of other machinery

46721 Wholesale of iron ores, iron, steel and iron and steel semi - finished goods

 

 

Financial information

 

Payment experience:     within agreed terms

Negative information:      We  have no negative information at hand.

 

 

REAL ESTATE

 

Type of ownership          Proprietor

Share:                           100.00%

Address                        Grafenberger Allee 151

D 40257 Diisseldorf

 

 

Land register documents were not available.

 

 

Bankers

 

COMMERZBANK, DUSSELDORF

Sort,   code:   30040000, BIC: COBADEDDXXX

 

EUROPAiSCH-IRANISCHE HANDELS3ANK, HAMBURG

Sort,   code:   2031030 0

 

 

FINANCIAL FIGURES

 

Turnover:                       2011                 EUR 64,019,307.00       

Profit:                            2011                 EUR  806,415.00

Equipment:                                            EUR 13,601.00

Ac/ts receivable:                                    EUR 9,107,933.00

Liabilities:                                              EUR 25,541,556.00

Employees:                                           07

 

 

Balance sheet

 

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:      01.01.2011  - 31.12.2011

ASSETS                            EUR                        29,479,157.64

Fixed assets                      EUR                        2,790,332.39

Intangible assets                 EUR                        163.00

Concessions,   licences, rights   EUR                        163.00

Tangib1e assets                   EUR                        2,790,169.39

Land /  similar rights            EUR                        2,776,568.89
Other tangible assets            

/  fixtures and

fittings                          EUR                        13,600.00

Current assets                    EUR                        26,687,171.79

Stocks                            EUR                        10,126,131.94

Advance payments made             EUR                        10,126,131.94

Accounts receivable               EUR                         9,107,932.86

Trade debtors                     EUR                        8,269,934.21

Receivables shown as      

negative amount                   EUR                        837,998.65

Liquid means                      EUR                        7,453,106.99

Remaining other assets            EUR                        1,653.46

Accruals   (assets)               EUR                        1,653.46

      

 

LIABILITIES                       EUR                        29,479,157.64

Shareholders 1   equity            EUR                        3,594,230.06

Capital                           EUR                        2,500,000.00

Subscribed capital 

(share capital>                   EUR                        2,500,000.00

Balance sheet profit/loss   (+/-} EUR                        1,094,230.06

Profit /  loss brought  forward   EUR                        287,815.13

Annual surplus / annual deficit   EUR                        806,414.93

Provisions                        EUR                        343,371.49

Provisions for taxes       EUR                        203,375.83

Other / unspecified provisions    EUR                        139,995.66

Liabilities                       EUR                        25,541,556.09

Financial debts                   EUR                        4,983,664.57

Liabilities due to banks          EUR                        4,983,664.57

Other liabilities                 EUR                        20,557,891.52
Trade creditors  

(for IAS  incl. bills     

of exchange)                      EUR                        1,359,533.60
Liabililties due to related

companies                         EUR                        3,996,547.10

Unspecified other liabilities     EUR                        15,201,810.82
thereof liabilities from tax /

financial authorities             EUR                        2,462.14
thereof liabilities from social

security                          EUR                        1,597.70

 

                    


PROFIT AND LOSS ACCOUNT

 

Code   (HGB)                             EUR           64,019,307.40

Sales                                    EUR           185,332.82

Other operating income                   EUR           59,559,159.64

Cost of materials                        EUR
Raw materials and supplies,

Purchased goods                          EUR           59,513,626.14

Purchased services                       EUR           45,533.50

Gross result (+/-)                       EUR           4,645,480.58

Staff expenses                           EUR           639,463.76

Wages and salaries                       EUR           568,732.09   

Social security contributions

and expenses  for pension plans

and benefits                             EUR           70,731.67

Total depreciation                       EUR           791,014.31

Depreciation on tangible                

/ intangible asssets   `  

(incl.   start-up and exp. of bus. EUR           791,014.31

Other operating expenses          `      EUR           226,238.53

Operating result  from

continuing operations                    EUR           2,988,763.98

Interest result (+/-)                    EUR           -1,766,685.95

Interest and similar income              EUR           1,766,959.35

Interest and similar expenses            EUr           -1,766,685.95

Financial result (+/-)                   EUR           1,222,078.03

Result from ordinary operations (+/-)    EUR           -410,641.83

Income tax /  refund of income tax (+/-} EUR           -5,021.27

Other taxes /  refund of taxes Tax (+/-)EUR            -415,663.10

Annual surplus / annual deficit          EUR           806,414.93

 

Inconsistent balance sheets:

 

Financial year 01.01.2010         Published on  

 - 31.12.2010                     30.01.2012

 

MIRA INFORM REPORT

 

Prepared for :

Punjab National Bank - Noida – LCB

 

 

Your Ref. No.:         

Tuff Metallurgical Pvt. Ltd. (V K Rajput)

 

Report No. :

191605

Report Date :

25.08.2012

 

 

INQUIRY DETAILS

 

Given Name :

Tara Steel Trading GmbH

 

 

Given Address :

Grasenberger Allee 151, D-40237, Dusseldorf, germany

 

 

Tel. No.:

(0049) 211-690620

Fax No.:

(0049) 211-6906216

 

 

IDENTIFICATION DETAILS

 

Name :

TARA STEEL TRADING GMBH

 

 

Registered Office :

Grafenberger Allee 151, Dusseldorf, 40237

 

 

Country :

Germany

 

 

Financials (as on) :

31.12.2010

 

 

Year of Establishment :

1996

 

 

Com. Reg. No.:

33411

 

 

Legal Form :

Private Independent Company

 

 

Line of Business :

wholesaler of ferrous and non-ferrous metal ores

 

 

No. of Employees :

07 employees

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

Payment Behaviour :

Slow

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

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

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 & address 

 

TARA Steel Trading GmbH

Grafenberger Allee 151

Dusseldorf, 40237

Germany

Tel:       +49 (0) 211 690620

Fax:      +49 (0) 211 6906216

 

 

Synthesis  

 

Employees:                  7

Company Type:            Private Independent

Incorporation Date:         1996   

Financials in:                 USD (Millions)

Fiscal Year End:            31-Dec-2010

Reporting Currency:       Euro

Annual Sales:                NA

Total Assets:                73.8

 

 

Business Description     

 

TARA Steel Trading GmbH is primarily engaged in wholesale of ferrous and non-ferrous metal ores; wholesale of ferrous and non-ferrous metals in primary forms; wholesale of ferrous and non-ferrous semi-finished metal products not elsewhere classified; and wholesale of gold and other precious metals.

 

Industry             

Industry            Miscellaneous Capital Goods

ANZSIC 2006:    3322 - Metal and Mineral Wholesaling

NACE 2002:      5152 - Wholesale of metals and ores

NAICS 2002:     423520 - Coal and Other Mineral and Ore Merchant Wholesalers

UK SIC 2003:    5152 - Wholesale of metals and ores

US SIC 1987:    5051 - Metals Service Centers and Offices

 

           

Key Executives   

 

Name                           Title    

Farhad Sabetgilani         Managing director         

 

Registered No.(DEU):   33411

 

1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7550783

2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7454064

Corporate Overview

 

Location

Grafenberger Allee 151

Dusseldorf, 40237

Germany

Tel:       +49 (0) 211 690620

Fax:      +49 (0) 211 6906216

           

Sales EUR(mil):             NA

Assets EUR(mil):           55.0

Employees:                   7

Fiscal Year End:            31-Dec-2010

Industry:                        Miscellaneous Capital Goods

Incorporation Date:         1996

Company Type:             Private Independent

Quoted Status:              Not Quoted

Registered No.(DEU):     33411

Managing director:         Farhad Sabetgilani

 

Contents

Industry Codes

Business Description

Financial Data

Key Corporate Relationships

 

Industry Codes

 

ANZSIC 2006 Codes:

3494     -          Other Electrical and Electronic Goods Wholesaling

3322     -          Metal and Mineral Wholesaling

 

NACE 2002 Codes:

5152     -          Wholesale of metals and ores

5143     -          Wholesale of electrical household appliances and radio and television goods

 

NAICS 2002 Codes:

423520  -          Coal and Other Mineral and Ore Merchant Wholesalers

4236     -          Electrical and Electronic Goods Merchant Wholesalers

 

US SIC 1987:

5064     -          Electrical Appliances, Television and Radio Sets

5051     -          Metals Service Centers and Offices

 

UK SIC 2003:

5152     -          Wholesale of metals and ores

5143     -          Wholesale of electrical household appliances and radio and television goods

 

Business Description

TARA Steel Trading GmbH is primarily engaged in wholesale of ferrous and non-ferrous metal ores; wholesale of ferrous and non-ferrous metals in primary forms; wholesale of ferrous and non-ferrous semi-finished metal products not elsewhere classified; and wholesale of gold and other precious metals.

 

Financial Data

Financials in:

EUR(mil)

 

Assets:

55.0

Current Assets:

51.5

 

Total Liabilities:

55.0

 

Issued Capital:

1.5

 

Net Worth:

2.8

 

 

 

Date of Financial Data:

31-Dec-2010

 

1 Year Growth

NA

 

Key Corporate Relationships

Bank:

Europäisch-Iranische Handelsbank, Bank Melli Iran, Commerzbank

 

 

 

 

 

 

 

 

 

Executive report

 

Executives

 

Name

Title

Function

 

Farhad Sabetgilani

 

Managing director

Managing Director

 

 

 

Annual Profit & Loss

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

Period Length

12 Months

12 Months

12 Months

Filed Currency

EUR

EUR

EUR

Exchange Rate (Period Average)

0.755078

0.719047

0.683679

Consolidated

No

No

No

 

 

 

 

Taxes and social security costs

-

0.1

0.1

Total payroll costs

-

0.7

0.8

Fixed asset depreciation and amortisation

-

0.1

0.1

Other operating costs

-

0.9

4.8

Net operating income

-

2.0

2.1

Other income

-

0.3

0.5

Interest payable on loans

-

1.5

2.0

Total expenses

-

1.2

1.5

Profit before tax

-

0.8

0.6

Provisions

0.8

0.7

1.1

Other taxes

-

0.0

0.0

Total taxation

-

0.3

0.2

Net profit

-

0.5

0.3

 

 

 

Annual Balance Sheet

Financials in: USD (mil)

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

Filed Currency

EUR

EUR

EUR

Exchange Rate

0.745406

0.696986

0.719399

Consolidated

No

No

No

 

 

 

 

Issued capital

2.0

2.2

2.1

Profits for the year

1.7

1.5

1.0

Profit brought forward from previous year(s)

1.4

1.0

0.7

Total stockholders equity

3.7

3.7

3.1

Provisions and allowances

0.8

0.7

1.1

Taxes and social security

-

-

2.6

Total long-term liabilities

-

-

2.6

Other loans

64.3

13.8

10.1

Taxation and social security

4.8

7.7

0.1

Due to group companies

0.3

0.4

0.6

Total current liabilities

69.3

21.8

10.8

Total liabilities (including net worth)

73.8

26.2

17.6

Patents

0.0

-

-

Intangibles

0.0

-

-

Land and buildings

4.8

5.2

2.3

Fixtures and equipment

4.8

5.2

2.3

Total tangible fixed assets

4.8

5.2

2.4

Total non-current assets

4.8

5.2

2.4

Net stocks and work in progress

55.7

7.9

8.8

Other receivables

10.1

6.4

-

Total receivables

10.1

6.5

1.9

Owing from associated companies

-

0.1

-

Cash and liquid assets

3.3

6.6

4.5

Total current assets

69.0

21.0

15.2

Prepaid expenses and deferred costs

0.0

0.0

0.0

Total assets

73.8

26.2

17.6

 

Annual Ratios

Financials in: USD (mil)

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

Period Length

12 Months

12 Months

12 Months

Filed Currency

EUR

EUR

EUR

Exchange Rate

0.745406

0.696986

0.719399

Consolidated

No

No

No

 

 

 

 

Current ratio

9.96

9.62

14.06

Acid test ratio

1.93

5.99

5.93

Total liabilities to net worth

1.85%

0.60%

0.44%

Net worth to total assets

0.01%

0.01%

0.02%

Current liabilities to net worth

1.85%

0.60%

0.35%

Current liabilities to stock

0.12%

0.28%

0.12%

Fixed assets to net worth

0.13%

0.14%

0.08%

Return on assets

-

0.01%

0.01%

Shareholders' return

-

0.01%

0.01%

Profit per employee

-

4.80

3.03

Average wage per employee

-

7.59

8.29

Net worth

3.7

3.7

3.1

Number of employees

7

7

7

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.34

UK Pound

1

Rs.88.50

Euro

1

Rs.70.74

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

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.