MIRA INFORM REPORT

 

 

Report Date :

09.05.2013

 

IDENTIFICATION DETAILS

 

Name :

Moong Unna Gmbh

 

 

Registered Office :

Max-Born-Str. 1 D 59423 Unna

 

 

Country :

Germany

 

 

Financials (as on) :

30.09.2011

 

 

Date of Incorporation :

20.12.1991

 

 

Com. Reg. No.:

HRB 3653

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Manufacture of other general-purpose machinery n.e.c.

 

 

No. of Employees :

134

 

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

Comapny Name and Address

 

MOOG Unna GmbH

 

 Company Status:      active

                      Max-Born-Str. 1

                      D 59423 Unna

                      Telephone:02303/59370

                      Telefax:  02303/5937199

                      Homepage: www.moog.com

                      E-mail:   aleutritz@moog.com

 

 

VAT no.          

 

DE811334772

 

 

Tax ID number  

 

316/5953/0521

 

 

CONCLUSION

 

 Business relations are permissible.

 

 

Comapny Summary

 

 LEGAL FORM              Private limited company

 Date of foundation:        20.12.1991

 Shareholders'

 agreement:                    20.12.1991

 Registered on:               07.02.1992

 Commercial Register:    Local court 59065 Hamm

 under:                          HRB 3653

 

 

Share capital                    

 

EUR            512,000.00

 

Shareholder

 

                      Moog Holding GmbH & Co.KG

                      Hanns-Klemm-Str. 28

                      D 71034 Böblingen

                      Legal form: Ltd partnership with priv. ltd.

                      company as general partner

                      Total cap.         EUR             24,500.00

                      contribution:

                      Share:             EUR            512,000.00

                      Registered on: 16.08.2005

                      Reg. data: 70190 Stuttgart, HRA 242732

                      Control and profit transfer agreement

 Manager:

                      Harald Seiffer

                      D 75365 Calw

                      having sole power of representation

                      born: 07.05.1959

 Manager:

                      Paul Stuart Bridges

                      GB  Southampton

                      authorized to jointly represent the company

                      born: 06.10.1973

                      Nationality: British

 Proxy:

                      Alexander Leutritz

                      D 59192 Bergkamen

                      authorized to jointly represent the company

                      born: 08.08.1966 in Kiel

                      Marital status: unknown

 

 Further functions/participations of Harald Seiffer (Manager)

 Manager:

                      MOOG Verwaltungs GmbH

                      Hanns-Klemm-Str. 28

                      D 71034 Böblingen

                      Legal form: Private limited company

                      Share capital:     EUR             25,000.00

                      Registered

                      on:                      21.07.2005

                      Reg. data:           70190 Stuttgart, HRB 246066

 

 

COMPANY HISTORY

 

 20.12.1991 - 31.12.2001  Stromag Elektronik GmbH

                          Hansastr. 120

                          D 59425 Unna

                          Private limited company

 01.01.2002 - 16.09.2007  Lust DriveTronics GmbH

                          Hansastr. 120

                          D 59425 Unna

                          Private limited company

 17.09.2007 - 20.07.2009  LTi REEnergy GmbH

                          Heinrich-Hertz-Str. 18

                          D 59423 Unna

                          Private limited company

 21.07.2009 - 18.08.2010  MOOG Unna GmbH

                          Heinrich-Hertz-Str. 18

                          D 59423 Unna

                          Private limited company

 

 

RESIGNED ACTING PERSONS AND SHAREHOLDERS

 

 09.04.2008 - 03.01.2013            Manager

                                                Matthias Vehring

                                                D 44135 Dortmund

 

 

BUSINESS ACTIVITIES

 

 Main industrial sector

 2829    Manufacture of other general-purpose machinery n.e.c.

46141   Agents involved in the sale of machines (except

 agricultural machineryand office machinery) and industrial supplies n.e.c.

 

 

FINANCIAL INFORMATION

 

Payment experience:  within agreed terms

 

Negative information:We have no negative information at hand.

 

Balance sheet year:  2010/2011

 

 

REAL ESTATE

 

Type of ownership:         Tenant

Address                        Max-Born-Str. 1

                                    D 59423 Unna

 

 Land register documents were not available.

 

 

BANKERS

 

 COMMERZBANK, UNNA

 Sort. code: 44340037, BIC: COBADEFF443

 HSBC TRINKAUS & BURKHARDT, DÜSSELDORF

 Sort. code: 30030880, BIC: TUBDDEDDXXX

 

 

FINANCIAL FIGURES

 

 Turnover:            2010/2011          EUR         69,938,584.00

                      2011/2012          EUR         70,000,000.00

 Profit:              2010/2011          EUR            683,939.00

 further business figures:

 Equipment:                              EUR            887,039.00

 Ac/ts receivable:                       EUR         24,405,810.00

 Liabilities:                            EUR         22,979,796.00

 Total numbers of vehicles:                                      5

 - Passenger cars:                                               5

 Employees:                                                    134

 

 Control and profit transfer agreement to:

                      Moog Holding GmbH & Co.KG

                      Hanns-Klemm-Str. 28

                      D 71034 Böblingen

 

 

 BALANCE SHEETS

 

 Balance sheet ratios 01.10.2010 - 30.09.2011

 Equity ratio [%]:                        29.12

 Liquidity ratio:                           1.07

 Return on total capital [%]:       2.02

 

 Balance sheet ratios 01.10.2009 - 30.09.2010

 Equity ratio [%]:                        43.53

 Liquidity ratio:                           1.40

 Return on total capital [%]:       7.36

 

 Balance sheet ratios 01.01.2009 - 30.09.2009

 Equity ratio [%]:                        34.10

 Liquidity ratio:                           1.27

 Return on total capital [%]:        19.54

 

 Balance sheet ratios 01.01.2008 - 31.12.2008

 Equity ratio [%]:                        15.65

 Liquidity ratio:                           0.87

 Return on total capital [%]:       9.62

 Balance sheet grade:                            2.9

 

 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:                          01.10.2010 - 30.09.2011

 

 ASSETS                                  EUR         36,790,980.85

  Fixed assets                           EUR          1,582,358.28

   Intangible assets                     EUR            352,904.03

    Concessions, licences, rights        EUR             52,904.03

    Goodwill                             EUR            300,000.00

   Tangible assets                       EUR            929,454.25

    Land / similar rights                EUR             42,414.92

    Other tangible assets / fixtures and

    fittings                             EUR            887,039.33

   Financial assets                      EUR            300,000.00

    Shares in participations /

    subsidiaries and the like            EUR            300,000.00

     Shares in related companies         EUR            300,000.00

  Current assets                         EUR         35,058,926.64

   Stocks                                EUR          9,696,147.85

    Raw materials, consumables and

    supplies                             EUR          5,887,913.37

    Finished goods / work in progress    EUR          3,808,234.48

   Accounts receivable                   EUR         24,405,810.17

    Trade debtors                        EUR         11,478,305.39

    Amounts due from related companies   EUR         12,559,681.97

    Other debtors and assets             EUR            367,822.81

   Liquid means                          EUR            956,968.62

  Remaining other assets                 EUR            149,695.93

   Accruals (assets)                     EUR            149,695.93

 

 LIABILITIES                             EUR         36,790,980.85

  Shareholders' equity                   EUR         11,361,548.01

   Capital                               EUR            512,000.00

    Subscribed capital (share capital)   EUR            512,000.00

   Reserves                              EUR            926,810.33

    Capital reserves                     EUR            926,810.33

   Balance sheet profit/loss (+/-)       EUR          9,922,737.68

    Profit / loss brought forward        EUR          9,922,737.68

  Provisions                             EUR          2,449,636.97

   Pension provisions and comparable

   provisions                            EUR             94,272.00

   Other / unspecified provisions        EUR          2,355,364.97

  Liabilities                            EUR         22,979,795.87

   Other liabilities                     EUR         22,979,795.87

    Trade creditors (for IAS incl. bills

    of exchange)                         EUR          4,093,089.82

    Liabilities from received advance

    payments                             EUR             26,415.00

    Liabililties due to related companiesEUR         18,754,196.56

    Unspecified other liabilities        EUR            106,094.49

     thereof liabilities from tax /

     financial authorities               EUR             86,225.56

     thereof liabilities from social

     security                            EUR              4,658.62

 

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

 Code (HGB)

  Sales                                  EUR         69,938,584.31

  Inventory change + own costs (+/-)     EUR           -913,585.67

   Inventory change (+/-)                EUR           -913,585.67

  Other operating income                 EUR            453,905.72

  Cost of materials                      EUR         54,044,979.02

   Raw materials and supplies, purchased

   goods                                 EUR         53,113,320.19

   Purchased services                    EUR            931,658.83

  Gross result (+/-)                     EUR         15,433,925.34

  Staff expenses                         EUR          7,064,949.27

   Wages and salaries                    EUR          5,846,146.90

   Social security contributions and

   expenses for pension plans and

   benefits                              EUR          1,218,802.37

  Total depreciation                     EUR            340,464.43

   Depreciation on tangible / intangible

   asssets (incl. start-up and exp. of

   bus.                                  EUR            340,464.43

  Other operating expenses               EUR          7,041,178.08

  Operating result from continuing

  operations                             EUR            987,333.56

  Interest result (+/-)                  EUR           -257,361.07

   Interest and similar expenses         EUR            257,361.07

    thereof paid to related companies    EUR            251,622.07

  Financial result (+/-)                 EUR           -257,361.07

  Result from ordinary operations (+/-)  EUR            729,972.49

  Extraordinary expenses                 EUR             22,436.00

  Extraordinary result (+/-)             EUR            -22,436.00

  Expenses for transfer of profits to a

  parent company                         EUR            683,938.80

  Income tax / refund of income tax (+/-)EUR            -23,597.69

  Tax (+/-)                              EUR            -23,597.69

  Annual surplus / annual deficit        EUR                  0.00

 

Type of balance sheet:                     Company balance sheet

 

 Financial year:                          01.10.2009 - 30.09.2010

 

 ASSETS                                  EUR         28,210,902.23

  Fixed assets                           EUR          1,644,848.41

   Intangible assets                     EUR            414,941.06

    Concessions, licences, rights        EUR             88,274.06

    Goodwill                             EUR            326,667.00

   Tangible assets                       EUR            929,907.35

    Land / similar rights                EUR             54,730.00

    Other tangible assets / fixtures and

    fittings                             EUR            864,155.22

    Advance payments made / construction

    in progress                          EUR             11,022.13

   Financial assets                      EUR            300,000.00

    Shares in participations /

    subsidiaries and the like            EUR            300,000.00

     Shares in related companies         EUR            300,000.00

  Current assets                         EUR         26,475,765.20

   Stocks                                EUR          7,135,565.35

    Raw materials, consumables and

    supplies                             EUR          3,022,024.20

    Finished goods / work in progress    EUR          4,113,541.15

   Accounts receivable                   EUR         17,380,703.37

    Trade debtors                        EUR          8,517,783.53

    Amounts due from related companies   EUR          8,614,686.41

    Other debtors and assets             EUR            248,233.43

   Liquid means                          EUR          1,959,496.48

  Remaining other assets                 EUR             90,288.62

   Accruals (assets)                     EUR             90,288.62

 

 LIABILITIES                             EUR         28,210,902.23

  Shareholders' equity                   EUR         11,361,548.01

   Capital                               EUR            512,000.00

    Subscribed capital (share capital)   EUR            512,000.00

   Reserves                              EUR            926,810.33

    Capital reserves                     EUR            926,810.33

   Balance sheet profit/loss (+/-)       EUR          9,922,737.68

    Profit / loss brought forward        EUR          9,922,737.68

  Provisions                             EUR          1,506,236.54

   Pension provisions and comparable

   provisions                            EUR             71,805.00

   Other / unspecified provisions        EUR          1,434,431.54

  Liabilities                            EUR         15,343,117.68

   Other liabilities                     EUR         15,343,117.68

    Trade creditors (for IAS incl. bills

    of exchange)                         EUR          5,567,599.04

    Liabilities from received advance

    payments                             EUR             86,415.00

    Liabililties due to related companiesEUR          9,613,853.40

    Unspecified other liabilities        EUR             75,250.24

     thereof liabilities from tax /

     financial authorities               EUR             58,190.60

     thereof liabilities from social

     security                            EUR              4,860.00

 

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

 Code (HGB)

  Sales                                  EUR         66,561,816.08

  Inventory change + own costs (+/-)     EUR         -1,039,888.48

   Inventory change (+/-)                EUR         -1,039,888.48

  Other operating income                 EUR            475,483.90

  Cost of materials                      EUR         51,592,802.16

   Raw materials and supplies, purchased

   goods                                 EUR         51,150,263.08

   Purchased services                    EUR            442,539.08

  Gross result (+/-)                     EUR         14,404,609.34

  Staff expenses                         EUR          6,650,412.32

   Wages and salaries                    EUR          5,424,986.11

   Social security contributions and

   expenses for pension plans and

   benefits                              EUR          1,225,426.21

  Total depreciation                     EUR            278,691.49

   Depreciation on tangible / intangible

   asssets (incl. start-up and exp. of

   bus.                                  EUR            278,691.49

  Other operating expenses               EUR          5,383,455.11

  Operating result from continuing

  operations                             EUR          2,092,050.42

  Interest result (+/-)                  EUR           -137,177.56

   Interest and similar expenses         EUR            137,177.56

    thereof paid to related companies    EUR            115,716.08

  Financial result (+/-)                 EUR           -137,177.56

  Result from ordinary operations (+/-)  EUR          1,954,872.86

  Expenses for transfer of profits to a

  parent company                         EUR          1,955,700.78

  Income tax / refund of income tax (+/-)EUR                827.92

  Tax (+/-)                              EUR                827.92

  Annual surplus / annual deficit        EUR                  0.00

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.16

UK Pound

1

Rs.83.88

Euro

1

Rs.70.99

 

 

INFORMATION DETAILS

 

Report Prepared by :

NIT

 

 

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.