MIRA INFORM REPORT

           

 

Report Date :

17.05.2013

 

IDENTIFICATION DETAILS

 

Name :

SCHILL + SEILACHER GMBH

 

 

Registered Office :

Schönaicher Str. 205, D 71032 Böblingen

 

 

Country :

Germany

 

 

Financials (as on) :

31.12.2011

 

 

Year of Establishments:

1877

 

 

Com. Reg. No.:

HRB 732272

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Manufacturer of other chemical products

 

 

No. of Employees :

284

 

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 :

Good

 

 

Payment Behaviour :

Regular

 

 

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 & address 

 

Schill + Seilacher GmbH

 

Schönaicher Str. 205

D 71032 Böblingen

Telephone:        07031/2820

Telefax:            07031/282160

Homepage:       www.schillseilacher.de

E-mail:              mail@schillseilacher.de

 

 

VAT no

 

DE813087269

 

 

Company Status  

 

active

 

 

CONCLUSION

 

Business relations are permissible.

 

 

Syntheiss

 

LEGAL FORM               Private limited company

Date of foundation:       1877

Shareholders'

agreement:                    27.10.2009

Registered on:              29.12.2009

Commercial Register:    Local court 70190 Stuttgart

under:                                       HRB 732272

Share capital:                 EUR          1,009,290.00

 

 

Shareholder

 

Ingeborg Groß

Moorfleeter Str. 28

D 22113 Hamburg

born: 12.12.1931

née: Leins

Share:             EUR          1,009,290.00

 

 

Manager

 

Dr. Ulrich Stärk

D 19395 Plau

having sole power of representation

born: 27.04.1945

Marital status: unknown

 

 

Proxy

 

Uwe Wunderlich

Tetschener Str. 13

D 01277 Dresden

authorized to jointly represent the company

born: 22.04.1954

Profession: Solicitor

Marital status: married

 

 Proxy:

                      Jürgen Weiße

                      Spandauer Str. 7

                      D 32257 Bünde

                      authorized to jointly represent the company

                      born: 05.05.1951

                      Profession: graduate engineer

 Proxy:

                      Hubert Wenkemann

                      Bleiche 65

                      D 74343 Sachsenheim

                      authorized to jointly represent the company

                      born: 27.11.1943

 Proxy:

                      Siegfried Röh

                      Pinneberger Str. 95b

                      D 22880 Wedel

                      authorized to jointly represent the company

                      born: 08.11.1947

 

 

COMPANY HISTORY

 

 24.02.1882 - 11.12.2000  Schill & Seilacher GmbH & Co.

                          Schönaicher Str. 205

                          D 71032 Böblingen

                          Ltd partnership with priv. ltd. company

                          as general partner

 11.12.2000 - 29.12.2009  Schill & Seilacher Aktiengesellschaft

                          Schönaicher Str. 205

                          D 71032 Böblingen

                          Public limited company

 

 

RESIGNED ACTING PERSONS AND SHAREHOLDERS

 

 08.01.2010 - 24.04.2013  Manager

                          Dr. Horst Hans Rieckert

                          D 71032 Böblingen

 

 

BUSINESS ACTIVITIES

 

Sectors

·         2059    Manufacture of other chemical products n.e.c.

·         4675    Wholesale of chemical products

 

 

FINANCIAL INFORMATION

 

Payment experience:     cash discount/within agreed terms

Negative information:    We have no negative information at hand.

Balance sheet year:       2011

 

 

REAL ESTATE

 

Type of ownership:        Tenant

Address                        Schönaicher Str. 205

                                    D 71032 Böblingen

 

Land register documents were not available.

 

 

BANKERS

 

KREISSPARKASSE BÖBLINGEN, BÖBLINGEN

Sort. code: 60350130, BIC: BBKRDE6BXXX

 

COMMERZBANK, STUTTGART

Sort. code: 60040071, BIC: COBADEFF600

 

DEUTSCHE BANK, STUTTGART

Sort. code: 60070070, BIC: DEUTDESSXXX

 

COMMERZBANK VORMALS DRESDNER BANK, BÖBLINGEN

Sort. code: 60380002, BIC: DRESDEFF601

 

 

FINANCIAL FIGURES

 

 Turnover:            2011               EUR        156,230,339.00

 Profit:              2011               EUR          2,530,516.00

 Equipment:                              EUR          2,607,884.00

 Ac/ts receivable:                       EUR         37,983,558.00

 Liabilities:                            EUR         22,138,478.00

 Employees:                                                    284

 - thereof permanent staff:                                    284

 

 

BALANCE SHEETS

 

 Balance sheet ratios 01.01.2011 - 31.12.2011

 Equity ratio [%]:                 29.21

 Liquidity ratio:                   0.97

 Return on total capital [%]:       6.02

 

 Balance sheet ratios 01.01.2010 - 31.12.2010

 Equity ratio [%]:                 47.63

 Liquidity ratio:                   1.79

 Return on total capital [%]:      11.42

 

 Balance sheet ratios 01.01.2009 - 31.12.2009

 Equity ratio [%]:                 41.35

 Liquidity ratio:                   1.74

 Return on total capital [%]:       8.88

 

 Balance sheet ratios 01.01.2008 - 31.12.2008

 Equity ratio [%]:                 38.97

 Liquidity ratio:                   1.56

 Return on total capital [%]:      -4.62

 

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         60,033,905.22

  Fixed assets                           EUR          4,588,441.26

   Intangible assets                     EUR             26,676.87

    Concessions, licences, rights        EUR             26,676.87

   Tangible assets                       EUR          4,513,530.15

    Land / similar rights                EUR             40,367.00

    Plant / machinery                    EUR          1,315,558.67

    Other tangible assets / fixtures and

    fittings                             EUR          2,607,884.27

    Advance payments made / construction

    in progress                          EUR            549,720.21

   Financial assets                      EUR             48,234.24

    Shares in participations /

    subsidiaries and the like            EUR             48,234.24

     Shares in investee companies        EUR             48,234.24

  Current assets                         EUR         55,441,777.84

   Stocks                                EUR         15,842,458.00

    Raw materials, consumables and

    supplies                             EUR          6,964,946.56

    Finished goods / work in progress    EUR          8,877,511.44

   Accounts receivable                   EUR         37,983,558.48

    Trade debtors                        EUR         19,512,041.07

    Other debtors and assets             EUR         18,471,517.41

   Liquid means                          EUR          1,615,761.36

  Remaining other assets                 EUR              3,686.12

   Accruals (assets)                     EUR              3,686.12

 

 LIABILITIES                             EUR         60,033,905.22

  Shareholders' equity                   EUR         30,270,306.65

   Capital                               EUR          1,009,290.00

    Subscribed capital (share capital)   EUR          1,009,290.00

   Reserves                              EUR            469,102.00

    Retained earnings / revenue reserves EUR            100,929.00

    Other / unspecified reserves         EUR            368,173.00

   Balance sheet profit/loss (+/-)       EUR         28,791,914.65

    Profit / loss brought forward        EUR         26,261,398.17

    Annual surplus / annual deficit      EUR          2,530,516.48

  Provisions                             EUR          7,625,120.57

   Pension provisions and comparable

   provisions                            EUR          3,935,432.00

   Provisions for taxes                  EUR            979,345.53

   Other / unspecified provisions        EUR          2,710,343.04

  Liabilities                            EUR         22,138,478.00

   Financial debts                       EUR         15,169,346.47

    Liabilities due to banks             EUR         15,169,346.47

   Other liabilities                     EUR          6,969,131.53

    Trade creditors (for IAS incl. bills

    of exchange)                         EUR          6,405,143.71

    Liabilities from received advance

    payments                             EUR            450,365.50

    Unspecified other liabilities        EUR            113,622.32

 

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

 Code (HGB)

  Sales                                  EUR        156,230,338.72

  Inventory change + own costs (+/-)     EUR           -478,015.60

   Inventory change (+/-)                EUR           -478,015.60

  Other operating income                 EUR          1,145,574.59

  Cost of materials                      EUR        103,420,880.42

   Raw materials and supplies, purchased

   goods                                 EUR         97,146,914.80

   Purchased services                    EUR          6,273,965.62

  Gross result (+/-)                     EUR         53,477,017.29

  Staff expenses                         EUR         18,373,000.94

   Wages and salaries                    EUR         15,650,795.24

   Social security contributions and

   expenses for pension plans and

   benefits                              EUR          2,722,205.70

  Total depreciation                     EUR          1,089,761.92

   Depreciation on tangible / intangible

   asssets (incl. start-up and exp. of

   bus.                                  EUR          1,089,761.92

  Other operating expenses               EUR         30,077,576.65

  Operating result from continuing

  operations                             EUR          3,936,677.78

  Interest result (+/-)                  EUR           -481,807.08

   Interest and similar income           EUR            408,460.58

   Interest and similar expenses         EUR            890,267.66

  Financial result (+/-)                 EUR           -481,807.08

  Result from ordinary operations (+/-)  EUR          3,454,870.70

  Income tax / refund of income tax (+/-)EUR           -914,364.72

  Other taxes / refund of taxes          EUR             -9,989.50

  Tax (+/-)                              EUR           -924,354.22

  Annual surplus / annual deficit        EUR          2,530,516.48

 

 Type of balance

 sheet:               Company balance sheet

 

 Financial year:      01.01.2010 - 31.12.2010

 

 ASSETS                                  EUR         58,226,318.46

  Fixed assets                           EUR          3,984,929.45

   Intangible assets                     EUR             22,837.87

   Tangible assets                       EUR          3,913,857.34

    Land / similar rights                EUR             51,324.00

    Plant / machinery                    EUR          1,457,683.16

    Other tangible assets / fixtures and

    fittings                             EUR          2,326,948.15

    Advance payments made / construction

    in progress                          EUR             77,902.03

   Financial assets                      EUR             48,234.24

    Shares in participations /

    subsidiaries and the like            EUR             48,234.24

     Shares in investee companies        EUR             48,234.24

  Current assets                         EUR         54,236,528.36

   Stocks                                EUR         16,108,075.74

    Raw materials, consumables and

    supplies                             EUR          6,456,894.05

    Finished goods / work in progress    EUR          9,651,181.69

   Accounts receivable                   EUR         36,481,082.46

    Trade debtors                        EUR         18,227,258.77

    Other debtors and assets             EUR         18,253,823.69

   Liquid means                          EUR          1,647,370.16

  Remaining other assets                 EUR              4,860.65

   Accruals (assets)                     EUR              4,860.65

 

 LIABILITIES                             EUR         58,226,318.46

  Shareholders' equity                   EUR         27,739,790.17

   Capital                               EUR          1,009,290.00

    Subscribed capital (share capital)   EUR          1,009,290.00

   Reserves                              EUR            469,102.00

    Retained earnings / revenue reserves EUR            469,102.00

   Balance sheet profit/loss (+/-)       EUR         26,261,398.17

    Balance sheet profit / loss          EUR         26,261,398.17

  Provisions                             EUR          8,454,357.44

   Pension provisions and comparable

   provisions                            EUR          4,003,200.00

   Provisions for taxes                  EUR          1,461,874.00

   Other / unspecified provisions        EUR          2,989,283.44

  Liabilities                            EUR         22,032,170.85

   Financial debts                       EUR         11,896,714.70

    Liabilities due to banks             EUR         11,896,714.70

   Other liabilities                     EUR         10,135,456.15

    Trade creditors (for IAS incl. bills

    of exchange)                         EUR          7,155,490.28

    Liabilities from received advance

    payments                             EUR            390,983.40

    Unspecified other liabilities        EUR          2,588,982.47

     thereof liabilities from tax /

     financial authorities               EUR          1,939,808.44

     thereof liabilities from social

     security                            EUR             18,257.13

 

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

 Code (HGB)

  Sales                                  EUR        143,626,079.62

  Inventory change + own costs (+/-)     EUR          3,504,335.77

   Inventory change (+/-)                EUR          3,504,335.77

  Other operating income                 EUR            767,352.32

  Cost of materials                      EUR         89,308,034.75

   Raw materials and supplies, purchased

   goods                                 EUR         84,125,349.99

   Purchased services                    EUR          5,182,684.76

  Gross result (+/-)                     EUR         58,589,732.96

  Staff expenses                         EUR         18,377,562.92

   Wages and salaries                    EUR         15,774,562.11

   Social security contributions and

   expenses for pension plans and

   benefits                              EUR          2,603,000.81

  Total depreciation                     EUR          1,311,611.25

   Depreciation on tangible / intangible

   asssets (incl. start-up and exp. of

   bus.                                  EUR          1,311,611.25

  Other operating expenses               EUR         29,325,463.66

  Operating result from continuing

  operations                             EUR          9,575,095.13

  Interest result (+/-)                  EUR           -508,407.25

   Interest and similar income           EUR            351,760.51

   Interest and similar expenses         EUR            860,167.76

  Financial result (+/-)                 EUR           -508,407.25

  Result from ordinary operations (+/-)  EUR          9,066,687.88

  Extraordinary expenses                 EUR             84,142.00

  Extraordinary result (+/-)             EUR            -84,142.00

  Income tax / refund of income tax (+/-)EUR         -2,402,589.74

  Other taxes / refund of taxes          EUR            -16,134.63

  Tax (+/-)                              EUR         -2,418,724.37

  Annual surplus / annual deficit        EUR          6,563,821.51

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.77

UK Pound

1

Rs.83.31

Euro

1

Rs.70.46

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

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.