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Report Date : |
16.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
MAGIC MANTRA
TEXTILHANDELS GMBH |
|
|
|
|
Registered Office : |
Bocksdornstr.
17, D 80935 München |
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|
|
|
Country : |
Germany |
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|
|
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Financials (as on) : |
31.12.2011 |
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|
|
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Date of Incorporation : |
22.03.2004 |
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|
|
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Com. Reg. No.: |
HRB 152174 |
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|
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Legal Form : |
Private limited company |
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|
|
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Line of Business : |
Manufacture of other textiles |
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|
|
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No. of Employees : |
Not Available |
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 |
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Payment Behaviour : |
No complaint |
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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
|
Country Name |
Previous Rating (31.03.2012) |
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 |
Magic Mantra
Textilhandels GmbH
Bocksdornstr. 17
D 80935 München
Telephone: 089/36089117
Telefax: 089/30724889
Homepage: www.magic-mantra.com
LEGAL FORM Private
limited company
Date of foundation: 22.03.2004
Shareholders'
agreement: 22.03.2004
Registered
on: 26.04.2004
Commercial
Register: Local court 80333 München
under: HRB
152174
Share
capital:
EUR 25,000.00
Vijay Mehta
65 Friends Colony
East
IND 110065 New
Delhi
born: 02.02.1946
Share: EUR 17,500.00
Shareholder:
Harlan Jerry Wood
Belgradstr. 3
D 80796 München
born: 23.11.1955
Share: EUR 3,750.00
Shareholder:
Rohit Khanna
C3A/1 C Janak Puri
IND 110058 New
Delhi
born: 23.07.1977
Share: EUR 3,750.00
Harlan Jerry Wood
Belgradstr. 3
D 80796 München
having sole power
of representation
born: 23.11.1955
Shareholder:
"JASPER"
Textilhandelsgesellschaft mbH
Linprunstr. 33
D 80335 München
Legal form:
Private limited company in
liquidation
Share
capital: EUR 51,129.19
Share: EUR 5,112.92
Registered
on: 19.07.1985
Reg. data: 80333 München, HRB 76592
22.03.2004 -
08.10.2008 Magic Mantra Textilhandels
GmbH
Belgradstr. 3
D 80796 München
Private limited
company
Secondary industrial
sector
1399 Manufacture of other textiles n.e.c.
4641 Wholesale of textiles
47191 Retail sale of miscellaneous goods (except
food)
Payment
experience: within periods customary in
this trade
Negative
information:We have no negative information at hand.
Balance sheet
year: 2011
Type of
ownership: Tenant
Address Bocksdornstr. 17
D 80935 München
Land register
documents were not available.
A bank connection
is unknown.
Profit: 2011 EUR 69.00
Ac/ts
receivable:
EUR 143,746.00
Liabilities: EUR 33,333.00
Employees: 3
The aforementioned
business figures may partly be estimated
information based
on average values in the line of business.
Balance sheet
ratios 01.01.2011 - 31.12.2011
Equity ratio
[%]: 75.92
Liquidity ratio: 10.00
Return on total
capital [%]: 0.03
Balance sheet
ratios 01.01.2010 - 31.12.2010
Equity ratio
[%]: 61.20
Liquidity
ratio: 1.85
Return on total
capital [%]: 26.13
Balance sheet
ratios 01.01.2009 - 31.12.2009
Equity ratio
[%]: 32.23
Liquidity
ratio: 1.28
Return on total
capital [%]: 8.91
Balance sheet
ratios 01.01.2008 - 31.12.2008
Equity ratio
[%]: 38.03
Liquidity
ratio: 1.59
Return on total
capital [%]: -24.02
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 206,378.16
Outstanding
capital EUR 10,050.00
Outstanding
contributions EUR 10,050.00
Fixed assets EUR 10,678.00
Tangible
assets EUR 10,678.00
Current assets EUR 182,500.66
Stocks EUR 16,882.53
Accounts
receivable EUR 143,745.75
Liquid means EUR 21,872.38
Remaining other
assets EUR 3,149.50
Accruals
(assets) EUR 3,149.50
LIABILITIES EUR 206,378.16
Shareholders'
equity EUR 159,107.59
Capital EUR 25,000.00
Subscribed capital
(share capital) EUR 25,000.00
Balance sheet
profit/loss (+/-) EUR 134,107.59
Profit / loss
brought forward EUR 134,039.05
Annual surplus /
annual deficit EUR 68.54
Provisions EUR 13,938.00
Liabilities EUR 33,332.57
Type of balance
sheet: Company balance sheet
Financial
year: 01.01.2010 - 31.12.2010
ASSETS EUR 219,611.28
Outstanding capital EUR 10,050.00
Outstanding
contributions EUR 10,050.00
Fixed assets EUR 5,240.00
Tangible
assets EUR 5,240.00
Current assets EUR 199,444.01
Stocks EUR 61,228.74
Accounts
receivable EUR 133,959.32
Other debtors and
assets EUR 133,959.32
Liquid means EUR 4,255.95
Remaining other
assets EUR 4,877.27
Accruals
(assets) EUR 4,877.27
LIABILITIES EUR 219,611.28
Shareholders'
equity EUR 159,039.05
Capital EUR 25,000.00
Subscribed capital
(share capital) EUR 25,000.00
Balance sheet
profit/loss (+/-) EUR 134,039.05
Profit / loss
brought forward EUR 93,249.87
Annual surplus /
annual deficit EUR 40,789.18
Provisions EUR 12,838.00
Liabilities EUR 47,734.23
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.62 |
|
|
1 |
Rs.83.69 |
|
Euro |
1 |
Rs.71.41 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.