MIRA INFORM REPORT

 

 

Report Date :

01.08.2013

 

IDENTIFICATION DETAILS

 

Name :

BADISCHE STAHL-ENGINEERING GMBH

 

 

Registered Office :

Robert-Koch-Str. 13, D 77694 Kehl

 

 

Country :

Germany

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

27.04.1999

 

 

Com. Reg. No.:

HRB 371631

 

 

Legal Form :

Private limited company

 

 

Line of Business :

Forging, pressing, stamping and roll-forming of metal; powder metallurgy

 

 

No. of Employees :

70

 

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 – March, 31st, 2013

 

Country Name

Previous Rating

(31.12.2012)

Current Rating

(31.03.2013)

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 6.5% in 2012. GDP contracted 5.1% in 2009 but grew by 4.2% in 2010, and 3.0% in 2011, before dipping to 0.7% in 2012 - a reflection of low investment spending due to crisis-induced uncertainty and the decreased demand for German exports from recession-stricken periphery countries. Stimulus and stabilization efforts initiated in 2008 and 2009 and tax cuts introduced in Chancellor Angela MERKEL's second term increased Germany's total budget deficit - including federal, state, and municipal - to 4.1% in 2010, but slower spending and higher tax revenues reduced the deficit to 0.8% in 2011. In 2012 Germany reached a budget surplus of 0.1%. 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 though the target was already reached in 2012. By 2014, the federal government wants to balance its budget. 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 electricity generating capacity and 46% of its base-load electricity production.

Source : CIA

 

Company Name and address

 

BADISCHE STAHL-ENGINEERING GMBH

 

 Company Status:          active

                                    Robert-Koch-Str. 13

                                    D 77694 Kehl

                                    Telephone:07851/877-0

                                    Telefax:  07851/877-133

                                    Homepage: www.bse-kehl.de

                                    E-mail:   info@bse-kehl.de

 

 VAT no.:                      DE201747781

 Tax ID number:             40002/04378

 

 

CONCLUSION

 

 Business relations are permissible.

 

 LEGAL FORM              Private limited company

 Date of foundation:        27.04.1999

 Shareholders'

 agreement:                   27.04.1999

 Registered on:              07.06.1999

 Commercial Register:    Local court 79098 Freiburg

 under:                          HRB 371631

 

 Share capital:                           EUR          1,500,000.00

 

 Shareholder:

                      SWS Gesellschaft für Industrie-Beteiligungen

                      mbH

                      Friedrichstr. 16

                      D 69412 Eberbach

                      Legal form: Private limited company

                      Share capital:     EUR         15,100,000.00

                      Share:             EUR          1,500,000.00

                      Registered on: 20.05.1998

                      Reg. data: 68159 Mannheim, HRB 335913

                      Control and profit transfer agreement

 Manager:

                      Johannes Greinacher

                      D 77652 Offenburg

                      having sole power of representation

                      born: 15.01.1968

 Manager:

                      Torsten Rummler

                      D 77694 Kehl

                      having sole power of representation

                      born: 11.07.1964

 Proxy:

                      Manfred Schmitt

                      D 65779 Kelkheim

                      authorized to jointly represent the company

                      born: 30.04.1952

 Proxy:

                      Dipl.-Ing. Peter Paul Ploner

                      D 77731 Willstätt

                      authorized to jointly represent the company

                      born: 26.01.1951

 

 

RESIGNED ACTING PERSONS AND SHAREHOLDERS

 

 02.03.2005 - 04.08.2010            Manager

                                                Dr. Martin Hans Manfred Max Fleischer

                                                D 77652 Offenburg

 

 

BUSINESS ACTIVITIES

 

 Sectors

 2550    Forging, pressing, stamping and roll-forming of metal; powder metallurgy

26511   Manufacture of instruments and appliances for measuring, testing and navigation

46520   Wholesale of electronic and telecommunications equipment and parts

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

 

 

FINANCIAL INFORMATION

 

 Payment experience:  takes advantage of cash discount

 

 Negative information:     We have no negative information at hand.

 

 Balance sheet year:      2011

 

 

REAL ESTATE

 

 Type of ownership:        Tenant

 Address                        Robert-Koch-Str. 13

                                    D 77694 Kehl

 

 Land register documents were not available.

 

 

BANKERS

 

 COMMERZBANK VORMALS DRESDNER BANK, KEHL, RHEIN

 Sort. code: 68080030, BIC: DRESDEFF680

 DEUTSCHE BANK, KEHL, RHEIN

 Sort. code: 66470035, BIC: DEUTDE6F664

 BADEN-WÜRTTEMBERGISCHE BANK, FREIBURG IM BREISGAU

 Sort. code: 68020020, BIC: SOLADEST682

 

 

FINANCIAL FIGURES

 

 Turnover:            2011               EUR         22,118,182.00

                      2012               EUR         23,000,000.00

 Expected turnover:                      EUR         24,000,000.00

 Profit:              2011               EUR          2,595,165.00

 further business figures:

 Equipment:                              EUR            236,206.00

 Ac/ts receivable:                       EUR          8,643,213.00

 Liabilities:                            EUR          9,916,229.00

 Employees:                                                     70

 

Control and profit transfer agreement to:

SWS Gesellschaft für Industrie-BeteiligungenmbH

Friedrichstr. 16

D 69412 Eberbach

 

 

BALANCE SHEETS

 

 Balance sheet ratios                 01.01.2011 - 31.12.2011

 Equity ratio [%]:                        10.89

 Liquidity ratio:                           0.93

 Return on total capital [%]:        17.66

 

 Balance sheet ratios                 01.01.2010 - 31.12.2010

 Equity ratio [%]:                        25.60

 Liquidity ratio:                           10.00

 Return on total capital [%]:        14.88

 

 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         14,798,085.33

  Fixed assets                           EUR            968,962.96

   Intangible assets                     EUR            109,128.58

    Concessions, licences, rights        EUR            109,128.58

   Tangible assets                       EUR            296,542.50

    Plant / machinery                    EUR             60,337.00

    Other tangible assets / fixtures and

    fittings                             EUR            236,205.50

   Financial assets                      EUR            563,291.88

    Shares in participations /

    subsidiaries and the like            EUR            563,291.88

     Shares in related companies         EUR            563,291.88

  Current assets                         EUR         13,829,122.37

   Stocks                                EUR          4,596,715.01

    Finished goods / work in progress    EUR          4,596,715.01

   Accounts receivable                   EUR          8,643,212.56

    Trade debtors                        EUR          3,889,975.06

    Amounts due from related companies   EUR          4,645,259.69

    Other debtors and assets             EUR            107,977.81

   Liquid means                          EUR            589,194.80

 

 LIABILITIES                             EUR         14,798,085.33

  Shareholders' equity                   EUR          1,610,950.99

   Capital                               EUR          1,500,000.00

    Subscribed capital (share capital)   EUR          1,500,000.00

   Reserves                              EUR            110,671.80

    Retained earnings / revenue reserves EUR            110,671.80

   Balance sheet profit/loss (+/-)       EUR                279.19

    Profit / loss brought forward        EUR                279.19

  Provisions                             EUR          3,270,905.00

   Pension provisions and comparable

   provisions                            EUR          1,368,600.00

   Other / unspecified provisions        EUR          1,902,305.00

  Liabilities                            EUR          9,916,229.34

   Other liabilities                     EUR          9,916,229.34

    Trade creditors (for IAS incl. bills

    of exchange)                         EUR            712,969.39

    Liabilities from received advance

    payments                             EUR          5,949,884.78

    Liabililties due to related companiesEUR          3,183,313.71

    Unspecified other liabilities        EUR             70,061.46

     thereof liabilities from tax /

     financial authorities               EUR             63,788.84

     thereof liabilities from social

     security                            EUR              3,304.09

 

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

 Code (HGB)

  Sales                                  EUR         22,118,182.30

  Inventory change + own costs (+/-)     EUR          1,054,150.44

   Inventory change (+/-)                EUR          1,054,150.44

  Other operating income                 EUR            501,373.69

  Cost of materials                      EUR         11,848,913.63

   Raw materials and supplies, purchased

   goods                                 EUR          7,969,573.11

   Purchased services                    EUR          3,879,340.52

  Gross result (+/-)                     EUR         11,824,792.80

  Staff expenses                         EUR          6,069,589.03

   Wages and salaries                    EUR          5,355,801.46

   Social security contributions and

   expenses for pension plans and

   benefits                              EUR            713,787.57

  Total depreciation                     EUR            159,645.01

   Depreciation on tangible / intangible

   asssets (incl. start-up and exp. of

   bus.                                  EUR            159,645.01

  Other operating expenses               EUR          3,078,230.55

  Operating result from continuing

  operations                             EUR          2,517,328.21

  Interest result (+/-)                  EUR             97,085.55

   Interest and similar income           EUR            179,248.20

    thereof from related companies       EUR            175,044.03

   Interest and similar expenses         EUR             82,162.65

  Financial result (+/-)                 EUR             97,085.55

  Result from ordinary operations (+/-)  EUR          2,614,413.76

  Extraordinary expenses                 EUR             18,004.00

  Extraordinary result (+/-)             EUR            -18,004.00

  Expenses for transfer of profits to a

  parent company                         EUR          2,595,164.76

  Other taxes / refund of taxes          EUR             -1,245.00

  Tax (+/-)                              EUR             -1,245.00

  Annual surplus / annual deficit        EUR                  0.00

 

 Type of balance

 sheet:               Company balance sheet

 

 Financial year:      01.01.2010 - 31.12.2010

 

 ASSETS                                  EUR         14,660,339.51

  Fixed assets                           EUR            817,920.96

   Intangible assets                     EUR             45,607.58

    Concessions, licences, rights        EUR             45,607.58

   Tangible assets                       EUR            209,021.50

    Other tangible assets / fixtures and

    fittings                             EUR            209,021.50

   Financial assets                      EUR            563,291.88

    Shares in participations /

    subsidiaries and the like            EUR            563,291.88

     Shares in related companies         EUR            563,291.88

  Current assets                         EUR         13,842,418.55

   Stocks                                EUR          3,542,564.57

    Finished goods / work in progress    EUR          3,542,564.57

   Accounts receivable                   EUR          2,171,066.06

    Trade debtors                        EUR          1,867,751.20

    Amounts due from related companies   EUR            289,872.51

    Other debtors and assets             EUR             13,442.35

   Liquid means                          EUR          8,128,787.92

 

 LIABILITIES                             EUR         14,660,339.51

  Shareholders' equity                   EUR          1,610,950.99

   Capital                               EUR          1,500,000.00

    Subscribed capital (share capital)   EUR          1,500,000.00

   Reserves                              EUR            110,671.80

    Retained earnings / revenue reserves EUR            110,671.80

   Balance sheet profit/loss (+/-)       EUR                279.19

    Profit / loss brought forward        EUR                279.19

  Provisions                             EUR          2,954,522.00

   Pension provisions and comparable

   provisions                            EUR          1,298,081.00

   Other / unspecified provisions        EUR          1,656,441.00

  Liabilities                            EUR         10,094,866.52

   thereof total due to shareholders     EUR          2,158,502.14

   Other liabilities                     EUR         10,094,866.52

    Trade creditors (for IAS incl. bills

    of exchange)                         EUR            197,692.66

    Liabilities from received advance

    payments                             EUR          7,102,160.56

    Liabililties due to related companiesEUR          2,727,533.02

    Unspecified other liabilities        EUR             67,480.28

     thereof liabilities from tax /

     financial authorities               EUR             57,895.96

     thereof liabilities from social

     security                            EUR              4,956.13

 

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

 Code (HGB)

  Sales                                  EUR         20,358,058.04

  Inventory change + own costs (+/-)     EUR         -2,456,363.73

   Inventory change (+/-)                EUR         -2,456,363.73

  Other operating income                 EUR            843,539.27

  Cost of materials                      EUR          6,851,981.42

   Raw materials and supplies, purchased

   goods                                 EUR          4,393,189.26

   Purchased services                    EUR          2,458,792.16

  Gross result (+/-)                     EUR         11,893,252.16

  Staff expenses                         EUR          6,146,665.66

   Wages and salaries                    EUR          5,433,521.24

   Social security contributions and

   expenses for pension plans and

   benefits                              EUR            713,144.42

  Total depreciation                     EUR            159,088.50

   Depreciation on tangible / intangible

   asssets (incl. start-up and exp. of

   bus.                                  EUR            159,088.50

  Other operating expenses               EUR          3,537,497.60

  Operating result from continuing

  operations                             EUR          2,050,000.40

  Interest result (+/-)                  EUR            141,167.40

   Interest and similar income           EUR            245,733.01

   Interest and similar expenses         EUR            104,565.61

  Financial result (+/-)                 EUR            141,167.40

  Result from ordinary operations (+/-)  EUR          2,191,167.80

  Extraordinary expenses                 EUR             18,004.00

  Extraordinary result (+/-)             EUR            -18,004.00

  Expenses for transfer of profits to a

  parent company                         EUR          2,160,084.80

  Other taxes / refund of taxes          EUR            -13,079.00

  Tax (+/-)                              EUR            -13,079.00

  Annual surplus / annual deficit        EUR                  0.00

 

 Inconsistent balance sheets:

 Financial year                              published on

 01.01.2009 - 31.12.2009                     02.03.2011

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.11

UK Pound

1

Rs.92.97

Euro

1

Rs.80.93

 

 

INFORMATION DETAILS

 

Report Prepared by :

SDA

 

 

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.