MIRA
INFORM REPORT
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Report Date : |
28.09.2012 |
IDENTIFICATION DETAILS
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Name : |
TRIFA LAMPS |
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Registered Office : |
In den Bruchwiesen 12, Annweiler Am
Trifels, 76855 |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
27.08.2002 |
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Com. Reg. No.: |
3320 |
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Legal Form : |
Private Subsidiary |
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Line of Business : |
Manufacture of electric filament or discharge lamps |
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No. of Employees : |
44 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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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 30th, 2012
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Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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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 |
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
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Source
: CIA |
Company name and address
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TRIFA LAMPS GERMANY GmbH |
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Employees: |
44 |
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Company Type: |
Private Subsidiary |
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Corporate Family: |
3 Companies |
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Ultimate Parent: |
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Incorporation Date: |
27-Aug-2002 |
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Fiscal Year End: |
31-Mar-2011 |
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Reporting Currency: |
Euro |
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Annual Sales: |
NA |
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Total Assets: |
6.9 |
Business Description
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TRIFA LAMPS GERMANY GmbH is primarily
engaged in manufacture of electric filament or discharge lamps (ultra-violet
or infra-red lamps; arc lamps; flashbulbs, flashcubes, etc.); and manufacture
of electric lamps and lighting fittings (chandeliers, table, desk, bedside or
floor-standing lamps, even non-electric; portable electric lamps; illuminated
signs and name-plates, etc.; outdoor and road lighting; and lighting sets of
a kind used for Christmas trees). |
Industry
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Industry |
Construction -
Supplies and Fixtures |
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ANZSIC 2006: |
243 - Electrical
Equipment Manufacturing |
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NACE 2002: |
3150 -
Manufacture of lighting equipment and electric lamps |
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NAICS 2002: |
3351 - Electric
Lighting Equipment Manufacturing |
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UK SIC 2003: |
3150 -
Manufacture of lighting equipment and electric lamps |
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UK SIC 2007: |
2740 - Manufacture
of electric lighting equipment |
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US SIC 1987: |
3641 - Electric
Lamp Bulbs and Tubes |
Key Executives
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Registered No.(DEU)
3320
1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7571683
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.704672
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Corporate Family |
Corporate Structure News: |
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TRIFA LAMPS GERMANY GmbH |
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
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Parent |
Annweiler Am Trifels, Rheinland-Pfalz |
Germany |
Retail (Specialty) |
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650 |
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Subsidiary |
Annweiler Am Trifels, Rheinland-Pfalz |
Germany |
Construction - Supplies and Fixtures |
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44 |
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Subsidiary |
Henstedt-Ulzburg |
Germany |
Retail (Specialty) |
16.0 |
35 |
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31-Mar-2011 |
31-Dec-2010 |
31-Dec-2009 |
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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) |
0.757168 |
0.755078 |
0.719047 |
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Consolidated |
No |
No |
No |
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Total payroll costs |
- |
1.6 |
2.0 |
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Fixed asset depreciation and amortisation |
- |
0.0 |
0.0 |
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Other operating costs |
- |
3.7 |
3.7 |
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Net operating income |
- |
1.1 |
1.7 |
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Other income |
- |
- |
0.0 |
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Interest payable on loans |
- |
0.3 |
0.4 |
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Total expenses |
- |
0.3 |
0.4 |
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Profit before tax |
- |
0.8 |
1.4 |
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Extraordinary income |
- |
4.9 |
- |
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Provisions |
0.2 |
0.4 |
0.5 |
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Extraordinary expenses |
- |
7.8 |
- |
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Extraordinary result |
- |
-2.9 |
- |
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Other taxes |
- |
0.0 |
0.0 |
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Profit distributed to shareholders |
- |
2.1 |
-1.4 |
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Annual Balance Sheet |
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Financials in:
USD (mil) |
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31-Mar-2011 |
31-Dec-2010 |
31-Dec-2009 |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate |
0.704672 |
0.745406 |
0.696986 |
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Consolidated |
No |
No |
No |
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Issued capital |
0.3 |
1.7 |
1.9 |
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Capital reserves |
- |
1.0 |
1.0 |
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Total stockholders equity |
0.3 |
2.7 |
2.9 |
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Provisions and allowances |
0.2 |
0.4 |
0.5 |
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Other debentures |
- |
- |
2.2 |
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Total long-term liabilities |
- |
- |
2.2 |
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Trade creditors |
- |
- |
0.5 |
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Other loans |
- |
- |
2.0 |
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Taxation and social security |
- |
- |
0.1 |
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Other current liabilities |
- |
- |
0.1 |
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Due to group companies |
- |
- |
2.8 |
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Total current liabilities |
6.3 |
5.1 |
5.5 |
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Total liabilities (including net worth) |
6.9 |
8.3 |
11.0 |
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Intangibles |
- |
- |
0.0 |
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Land and buildings |
- |
0.3 |
0.3 |
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Machinery and tools |
- |
- |
0.0 |
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Fixtures and equipment |
- |
0.3 |
0.3 |
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Fixed assets under construction |
- |
0.0 |
0.0 |
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Total tangible fixed assets |
0.0 |
0.3 |
0.4 |
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Long-term investments |
- |
0.2 |
0.2 |
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Shares held in associated companies |
- |
0.0 |
2.4 |
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Total financial assets |
- |
0.2 |
2.6 |
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Total non-current assets |
0.0 |
0.5 |
3.0 |
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Net stocks and work in progress |
4.3 |
- |
4.5 |
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Total receivables |
2.4 |
6.9 |
3.2 |
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Cash and liquid assets |
0.1 |
0.8 |
0.3 |
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Total current assets |
6.8 |
7.8 |
8.0 |
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Prepaid expenses and deferred costs |
0.0 |
0.0 |
0.0 |
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Total assets |
6.9 |
8.3 |
11.0 |
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Annual Ratios |
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Financials in:
USD (mil) |
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31-Mar-2011 |
31-Dec-2010 |
31-Dec-2009 |
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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 |
0.704672 |
0.745406 |
0.696986 |
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Consolidated |
No |
No |
No |
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Current ratio |
10.71 |
15.09 |
14.59 |
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Acid test ratio |
3.89 |
15.09 |
6.46 |
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Total liabilities to net worth |
1.99% |
0.19% |
0.26% |
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Net worth to total assets |
0.00% |
0.03% |
0.03% |
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Current liabilities to net worth |
1.99% |
0.19% |
0.19% |
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Current liabilities to stock |
0.15% |
- |
0.12% |
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Fixed assets to net worth |
0.01% |
0.02% |
0.10% |
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Return on assets |
- |
-0.02% |
0.02% |
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Shareholders' return |
- |
-0.08% |
0.05% |
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Profit per employee |
- |
1.38 |
2.24 |
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Average wage per employee |
- |
2.69 |
3.21 |
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Net worth |
0.3 |
2.7 |
2.9 |
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Number of employees |
- |
44 |
44 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.53.25 |
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1 |
Rs.86.23 |
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Euro |
1 |
Rs.68.63 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
RATING EXPLANATIONS
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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.