MIRA INFORM REPORT

 

 

Report Date :

08.04.2013

 

IDENTIFICATION DETAILS

 

Name :

RUFF GMBH

 

 

Registered Office :

Am Schammacher Feld 2 D 85567 Grafing

 

 

Country :

Germany

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

01.06.1948

 

 

Com. Reg. No.:

HRB 175259

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Repair of electric equipment

 

 

No. of Employees :

63

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

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 – June 30th, 2012

 

Country Name

Previous Rating

(31.03.2011)

Current Rating

(30.06.2012)

Germany

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

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.

Source : CIA

Company name and address

 

RUFF GmbH

 

 Company Status:      active

                      Am Schammacher Feld 2

                      D 85567 Grafing

                      Telephone:08092/7057-0

                      Telefax:  08092/7057-55

                      Homepage: www.ruff-worldwide.de

                      E-mail:   sales@ruff-worldwide.de

 

 

VAT no.          

 

DE262507156

 

 

CONCLUSION

 

 Business relations are permissible.

 

 

Registartion data

 

 LEGAL FORM              Private limited company

 Date of foundation:        01.06.1948

 Shareholders'

 agreement:                   29.08.2008

 Registered on:              03.09.2008

 Commercial Register:    Local court 80333 München

 under:                          HRB 175259

 

Share capital                        

 

 EUR             25,000.00

 

 

Shareholder

 

                      Rund PARTICIPATIONS S.A.

                      207 Route d'Arlon

                      L 1150 Luxembourg

                      Legal form: Other legal form

                      Share:             EUR             25,000.00

 Manager:

                      Fabio Andrea Cavenago

                      I  Mailand

                      having sole power of representation

                      born: 20.06.1950

                      Nationality: Italian

 Manager:

                      Luigia Anna Ferrari

                      I  Mailand

                      having sole power of representation

                      born: 22.07.1953

                      Nationality: Italian

 

 

COMPANY HISTORY

 

 11.01.1999 - 21.03.1999  Herbert Ruff KG Fabrik für

                          elektromechanische Geräte

                          Poststr. 5

                          D 85567 Grafing

                          Limited partnership

 21.03.1999 - 10.09.2001  Herbert Ruff GmbH & Co. KG, Fabrik für

                          elektromechanische Geräte

                          Poststr. 5

                          D 85567 Grafing

                          Ltd partnership with priv. ltd. company

                          as general partner

 10.09.2001 - 03.09.2008  RUFF GmbH & Co. KG (AG München, HRA

                          42413)

                          Am Schammacher Feld 2

                          D 85567 Grafing

                          Ltd partnership with priv. ltd. company

                          as general partner

 

 

BUSINESS ACTIVITIES

 

 Main industrial sector

 3314    Repair of electric equipment

 

 Secondary industrial sector

 26512   Manufacture of instruments and appliances for measuring,

 testing and navigation

46432   Wholesale of electrial domestic appliances

 

 

 

FINANCIAL INFORMATION

 

 Payment experience:  within agreed terms

 

 Negative information:We have no negative information at hand.

 

 Balance sheet year:  2011

 

 

REAL ESTATE

 

 Type of ownership:   proprietor

 Share:                100.00 %

 Address              Am Schammacher Feld 2 Industriepark

                      D 85567 Grafing

 

 Land register documents were not available.

 

BANKERS

 

 KREISSPARKASSE MÜNCHEN STARNBERG EBERSBERG, GRAFING B. MÜNCHEN

 Sort. code: 70051805, BIC: BYLADEM1EBE

 KREISSPARKASSE MÜNCHEN STARNBERG EBERSBERG, EBERSBERG, OBERBAY

 Sort. code: 70051805, BIC: BYLADEM1EBE

 POSTBANK (GIRO), MÜNCHEN

 Sort. code: 70010080, BIC: PBNKDEFF700

 

 

FINANCIAL FIGURES

 

 Gross profit or loss:2011               EUR          5,356,846.00

 Profit:              2011               EUR            851,976.00

 Equipment:                              EUR             89,656.00

 Ac/ts receivable:                       EUR            880,626.00

 Liabilities:                            EUR          3,866,985.00

 Employees:                                                     63

 - thereof permanent staff:                                     60

 - Trainees:                                                     3

 

 

BALANCE SHEETS

 

 Balance sheet ratios 01.01.2011 - 31.12.2011

 Equity ratio [%]:                 57.51

 Liquidity ratio:                   0.43

 Return on total capital [%]:      12.83

 

 Balance sheet ratios 01.01.2010 - 31.12.2010

 Equity ratio [%]:                 47.14

 Liquidity ratio:                   0.26

 Return on total capital [%]:       8.26

 

 Balance sheet ratios 01.01.2009 - 31.12.2009

 Equity ratio [%]:                 50.37

 Liquidity ratio:                   0.28

 Return on total capital [%]:       4.70

 

 Balance sheet ratios 01.01.2008 - 31.12.2008

 Equity ratio [%]:                 43.28

 Liquidity ratio:                   0.28

 Return on total capital [%]:       8.11

 

 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          6,639,629.08

  Fixed assets                           EUR          3,550,002.89

   Intangible assets                     EUR                  1.00

    Internally generated industrial

    property rights and similar rights

    and assets                           EUR                  1.00

   Tangible assets                       EUR          3,549,999.89

    Land / similar rights                EUR          3,312,397.04

    Plant / machinery                    EUR            147,947.00

    Other tangible assets / fixtures and

    fittings                             EUR             89,655.85

   Financial assets                      EUR                  2.00

    Shares in participations /

    subsidiaries and the like            EUR                  1.00

     Shares in related companies         EUR                  1.00

    Other / unspecified financial assets EUR                  1.00

  Current assets                         EUR          3,088,503.39

   Stocks                                EUR          1,849,228.50

   Accounts receivable                   EUR            880,625.82

    Other debtors and assets             EUR            880,625.82

   Liquid means                          EUR            358,649.07

  Remaining other assets                 EUR              1,122.80

   Accruals (assets)                     EUR              1,122.80

 

 LIABILITIES                             EUR          6,639,629.08

  Shareholders' equity                   EUR          2,337,323.12

   Capital                               EUR             25,000.00

    Subscribed capital (share capital)   EUR             25,000.00

   Reserves                              EUR            102,856.08

    Capital reserves                     EUR            102,856.08

   Balance sheet profit/loss (+/-)       EUR          2,209,467.04

    Profit / loss brought forward        EUR          1,357,490.82

    Annual surplus / annual deficit      EUR            851,976.22

  Provisions                             EUR            432,461.23

  Liabilities                            EUR          3,866,985.31

   Financial debts                       EUR          1,719,086.30

    Liabilities due to banks             EUR          1,719,086.30

   Other liabilities                     EUR          2,147,899.01

    Trade creditors (for IAS incl. bills

    of exchange)                         EUR            259,297.22

    Liabilities from received advance

    payments                             EUR            232,751.55

    Unspecified other liabilities        EUR          1,655,850.24

  Other liabilities                      EUR              2,859.42

   Deferred taxes (not included under

   provisions/liabilities)               EUR              2,859.42

 

 PROFIT AND LOSS ACCOUNT (cost-summary method) according to Comm.

 Code (HGB)

  Gross result (+/-)                     EUR          5,356,846.03

  Staff expenses                         EUR          2,737,994.74

   Wages and salaries                    EUR          2,217,704.00

   Social security contributions and

   expenses for pension plans and

   benefits                              EUR            520,290.74

  Total depreciation                     EUR            263,775.12

   Depreciation on tangible / intangible

   asssets (incl. start-up and exp. of

   bus.                                  EUR            247,662.72

   Depreciation on current assets (+/-)  EUR             16,112.40

  Other operating expenses               EUR          1,103,708.62

  Operating result from continuing

  operations                             EUR          1,251,367.55

  Interest result (+/-)                  EUR           -101,717.91

   Interest and similar expenses         EUR            101,717.91

  Financial result (+/-)                 EUR           -101,717.91

  Result from ordinary operations (+/-)  EUR          1,149,649.64

  Income tax / refund of income tax (+/-)EUR           -292,044.79

  Other taxes / refund of taxes          EUR             -5,628.63

  Tax (+/-)                              EUR           -297,673.42

  Annual surplus / annual deficit        EUR            851,976.22

 

 Type of balance

 sheet:               Company balance sheet

 

 Financial year:      01.01.2010 - 31.12.2010

 

 ASSETS                                  EUR          6,604,878.34

  Fixed assets                           EUR          3,745,969.47

   Intangible assets                     EUR                  1.00

    Other / unspecified intangible assetsEUR                  1.00

   Tangible assets                       EUR          3,745,966.47

    Land / similar rights                EUR          3,401,325.84

    Plant / machinery                    EUR            217,020.00

    Other tangible assets / fixtures and

    fittings                             EUR            127,620.63

   Financial assets                      EUR                  2.00

    Shares in participations /

    subsidiaries and the like            EUR                  1.00

     Shares in related companies         EUR                  1.00

    Other / unspecified financial assets EUR                  1.00

  Current assets                         EUR          2,842,955.83

   Stocks                                EUR          1,916,393.74

   Accounts receivable                   EUR            766,543.34

    Amounts due from related companies   EUR             16,112.40

    Other debtors and assets             EUR            750,430.94

   Liquid means                          EUR            160,018.75

  Remaining other assets                 EUR             15,953.04

   Accruals (assets)                     EUR             15,953.04

 

 LIABILITIES                             EUR          6,604,878.34

  Shareholders' equity                   EUR          1,459,749.19

   Capital                               EUR             25,000.00

    Subscribed capital (share capital)   EUR             25,000.00

   Reserves                              EUR             77,258.37

    Capital reserves                     EUR             77,258.37

   Balance sheet profit/loss (+/-)       EUR          1,357,490.82

    Profit / loss brought forward        EUR            811,882.91

    Annual surplus / annual deficit      EUR            545,607.91

  Provisions                             EUR            431,499.98

  Liabilities                            EUR          4,713,629.17

   Financial debts                       EUR          1,794,478.27

    Liabilities due to banks             EUR          1,794,478.27

   Other liabilities                     EUR          2,919,150.90

    Unspecified other liabilities        EUR          2,919,150.90

 

 PROFIT AND LOSS ACCOUNT (cost-summary method) according to Comm.

 Code (HGB)

  Gross result (+/-)                     EUR          4,885,446.56

  Staff expenses                         EUR          2,767,695.04

   Wages and salaries                    EUR          2,220,423.89

   Social security contributions and

   expenses for pension plans and

   benefits                              EUR            547,271.15

  Total depreciation                     EUR            163,129.15

   Depreciation on tangible / intangible

   asssets (incl. start-up and exp. of

   bus.                                  EUR            163,129.15

  Other operating expenses               EUR          1,097,461.25

  Operating result from continuing

  operations                             EUR            857,161.12

  Interest result (+/-)                  EUR           -112,093.39

   Interest and similar income           EUR             11,313.00

   Interest and similar expenses         EUR            123,406.39

  Other financial result                 EUR            -15,802.20

   Depreciation on financial assets and

   marketable securities                 EUR             15,802.20

  Financial result (+/-)                 EUR           -127,895.59

  Result from ordinary operations (+/-)  EUR            729,265.53

  Income tax / refund of income tax (+/-)EUR           -178,161.44

  Other taxes / refund of taxes          EUR             -5,496.18

  Tax (+/-)                              EUR           -183,657.62

  Annual surplus / annual deficit        EUR            545,607.91

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.88

UK Pound

1

Rs.83.54

Euro

1

Rs.70.90

 

 

INFORMATION DETAILS

 

Report Prepared by :

PRL

 

 

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.