MIRA INFORM REPORT

 

 

Report Date :

11.11.2013

 

IDENTIFICATION DETAILS

 

Name :

DAMSTAHL GMBH

 

 

Registered Office :

Raiffeisenstr. 6-8, D 40764 Langenfeld

 

 

Country :

Germany

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

08.11.1960

 

 

Com. Reg. No.:

HRB 45003

 

 

Legal Form :

Private limited company

 

 

Line of Business :

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

Wholesale of non-ferrous ores, metals and metal semi-finished goods

 

 

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

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

 

Damstahl GmbH

Raiffeisenstr. 6-8

D 40764 Langenfeld

Telephone:        02173/797-0

Telefax:             02173/797-270

Homepage:        www.damstahl.de

E-mail:              dsde@damstahl.com

 

VAT no.:             DE121382220

 

 

CONCLUSION

 

Business relations are permissible.

 

 

Company details

 

LEGAL FORM               Private limited company

Date of foundation:         08.11.1960

Shareholders'

agreement:                    08.11.1960

Registered on:               30.03.1967

Commercial Register:     Local court 40227 Düsseldorf

under:                                       HRB 45003

 

Share capital:                          EUR          5,500,000.00

 

 

Shareholder

 

DAM-Stahl A.S.

DK - Skonderborg

Legal form: Other legal form

Share:             EUR          5,500,000.00

 

 

Manager

 

Wolf Ehrenberg

Richard-Wagner-Str. 25

D 75038 Oberderdingen

having sole power of representation

born: 24.08.1951

Profession: Businessman

Marital status: unknown

 

Manager:

Harry Ehrenberg

Flurstr. 16

CH 6340 Baar

having sole power of representation

born: 18.12.1948

Nationality: Swiss

 

Manager:

Jan Mikael Staalros

Kingosvej 4

DK 8700 Horsens

having sole power of representation

born: 18.02.1949

Profession: Businessman

Nationality: danish

 

 

Proxy

 

Achim Dietrich

D 47051 Duisburg

authorized to jointly represent the company

born: 24.06.1957

 

Proxy:

Thomas Cramer

D 40667 Meerbusch

authorized to jointly represent the company

born: 10.03.1967

 

 

Further functions/participations of Wolf Ehrenberg (Manager)

 

Shareholder:

Kyffhäuser Pumpen Artern GmbH

Borxlebener Str. 8

D 06556 Ringleben

Legal form: Private limited company

Share capital:     EUR             56,242.11

Share:             EUR             15,338.76

Registered

on:         22.01.1999

Reg. data:  07745 Jena, HRB 110514

 

 

Manager

 

Armaturenwerk Hötensleben GmbH

Schulstr. 5-6

D 39393 Hötensleben

Legal form: Private limited company

Share capital:     EUR          4,200,000.00

Registered

on:         03.08.1990

Reg. data:  39576 Stendal, HRB 100417

 

Manager:

NEUMO-Grundbesitz GmbH

Henry-Ehrenberg-Platz 3

D 75438 Knittlingen

Legal form: Private limited company

Share capital:     EUR          1,279,000.00

Registered

on:         29.09.1949

Reg. data:  68159 Mannheim, HRB 510029

 

 

 

Further functions/participations of Harry Ehrenberg (Manager)

 

Limited partner:

NEUMO Armaturenfabrik Apparatebau -

Metallgießerei GmbH & Co. KG

Henry-Ehrenberg-Platz 1-3

D 75438 Knittlingen

Legal form: Ltd partnership with priv. ltd.

company as general partner

Total cap.         EUR          9,203,253.86

contribution:

Share:             EUR             38,346.89

Registered

on:         31.03.1987

Reg. data:  68159 Mannheim, HRA 510539

 

Manager:

Senator Ehrenberg GmbH

Henry-Ehrenberg-Platz 1-3

D 75438 Knittlingen

Legal form: Private limited company

Share capital:     EUR             25,600.00

Registered

on:         23.09.1986

Reg. data:  68159 Mannheim, HRB 510634

 

Manager:

Armaturenwerk Hötensleben GmbH

Schulstr. 5-6

D 39393 Hötensleben

Legal form: Private limited company

Share capital:     EUR          4,200,000.00

Registered

on:         03.08.1990

Reg. data:  39576 Stendal, HRB 100417

 

Manager:

NEUMO-Grundbesitz GmbH

Henry-Ehrenberg-Platz 3

D 75438 Knittlingen

Legal form: Private limited company

Share capital:     EUR          1,279,000.00

Registered

on:         29.09.1949

Reg. data:  68159 Mannheim, HRB 510029

 

Member:

Wolf Ehrenberg, Harry Ehrenberg, Ruth

Segev-Ehrenberg Ilona Senderovicz

Henry-Ehrenberg-Platz 1-3

D 75438 Knittlingen

Legal form: Community of heirs

 

 

Further functions/participations of Jan Mikael Staalros (Manager)

 

Liquidator:

MKH Strenger GmbH

Raiffeisenstr. 6-8

D 40764 Langenfeld

Legal form: Private limited company in

liquidation

Share capital:     EUR             50,000.00

Registered

on:         25.02.2000

Reg. data:  40764 Langenfeld, HRB 3593

 

COMPANY HISTORY

 

26.02.1979 - 26.10.2000  Damstahl-Verwaltungs-GmbH

Raiffeisenstr. 6-8

D 40764 Langenfeld

Private limited company

 

 

RESIGNED ACTING PERSONS AND SHAREHOLDERS

 

03.11.2005 - 19.03.2012  Manager

Senator h. c. Henry Ehrenberg

D 75438 Knittlingen

 

 

BUSINESS ACTIVITIES

 

Main industrial sector

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

46722   Wholesale of non-ferrous ores, metals and metal semi-finished goods

 

 

BRANCHES AND FACTORIES

 

Branch:

Damstahl GmbH

Bonländer Hauptstr. 66

D 70794 Filderstadt

Branch:

Damstahl GmbH

In der Alten Kaserne 1

D 39288 Burg

TEL.: 03921/9306-0

Branch:

Damstahl GmbH

Stromeyerstr. 5

D 80999 München

TEL.: 089/8132512

FAX.: 089/8132513

Branch:

Damstahl GmbH

D 20095 Hamburg

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:   proprietor

Share:                100.00 %

Address              Raiffeisenstr. 6-8

D 40764 Langenfeld

Residential floor     17,000.00 sq.m

space/ Usable floor

space:

Value at selling price:                 EUR            700,000.00

 

Type of ownership:   proprietor

Share:                100.00 %

Address              Hitdorfer Str. 37-39

D 40764 Langenfeld

 

Land register documents were not available.

 

 

BANKERS

 

Principal bank

JYSKE BANK FIL HAMBURG, HAMBURG

Sort. code: 20020500, BIC: JYBADEHHXXX

 

Further banks

COMMERZBANK VORMALS DRESDNER BANK, LANGENFELD (RHEINLAND)

DEUTSCHE BANK, LANGENFELD (RHEINLAND)

SEB, DÜSSELDORF

POSTBANK, KÖLN

STADT-SPARKASSE LANGENFELD, LANGENFELD (RHEINLAND)

 

 

FINANCIAL FIGURES

 

Turnover:            2011               EUR        109,415,848.00

Profit:              2011               EUR          1,430,306.00

Equipment:                              EUR            885,564.00

Ac/ts receivable:                       EUR          8,338,116.00

Liabilities:                            EUR         16,844,761.00

Real estate of the firm:                EUR          4,480,372.00

Total numbers of vehicles:                                     15

- Lorries:                                                      1

Employees:                                                     98

- thereof permanent staff:                                     91

- Trainees:                                                     7

 

BALANCE SHEETS

 

Balance sheet ratios 01.01.2011 - 31.12.2011

Equity ratio [%]:                 55.03

Liquidity ratio:                   0.50

Return on total capital [%]:       3.47

 

Balance sheet ratios 01.01.2010 - 31.12.2010

Equity ratio [%]:                 66.79

Liquidity ratio:                   0.95

Return on total capital [%]:      11.30

 

Balance sheet ratios 01.01.2009 - 31.12.2009

Equity ratio [%]:                 58.56

Liquidity ratio:                   0.50

 

Balance sheet ratios 01.01.2008 - 31.12.2008

Equity ratio [%]:                 37.45

Liquidity ratio:                   0.31

Return on total capital [%]:     -13.85

 

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         41,866,468.68

Fixed assets                           EUR          6,129,764.39

Intangible assets                     EUR            511,292.53

Goodwill                             EUR            511,292.53

Tangible assets                       EUR          5,365,936.63

Land / similar rights                EUR          4,480,372.21

Other tangible assets / fixtures and

fittings                             EUR            885,564.42

Financial assets                      EUR            252,535.23

Shares in participations /

subsidiaries and the like            EUR            249,785.23

Shares in related companies         EUR            100,000.00

Shares in investee companies        EUR            149,785.23

Other loans                          EUR              2,750.00

Current assets                         EUR         35,617,003.50

Stocks                                EUR         27,155,346.42

Raw materials, consumables and

supplies                             EUR              5,000.00

Finished goods / work in progress    EUR         26,021,460.39

Advance payments made                EUR          1,128,886.03

Accounts receivable                   EUR          8,338,115.62

Trade debtors                        EUR          5,395,063.66

Amounts due from related companies   EUR            665,082.16

Amounts due from investee companies  EUR            375,533.18

Other debtors and assets             EUR          1,902,436.62

Liquid means                          EUR            123,541.46

Remaining other assets                 EUR            119,700.79

Accruals (assets)                     EUR             24,143.79

Deferred taxes (assets)               EUR             95,557.00

 

LIABILITIES                             EUR         41,866,468.68

Shareholders' equity                   EUR         23,215,066.95

Capital                               EUR          5,500,000.00

Subscribed capital (share capital)   EUR          5,500,000.00

Reserves                              EUR          2,608,843.82

Capital reserves                     EUR          2,556,459.41

Retained earnings / revenue reserves EUR             52,384.41

Balance sheet profit/loss (+/-)       EUR         15,106,223.13

Profit / loss brought forward        EUR         13,675,917.04

Annual surplus / annual deficit      EUR          1,430,306.09

Provisions                             EUR          1,806,640.81

Pension provisions and comparable

provisions                            EUR            652,468.00

Provisions for taxes                  EUR            636,606.00

Other / unspecified provisions        EUR            517,566.81

Liabilities                            EUR         16,844,760.92

Financial debts                       EUR         11,094,844.27

Liabilities due to banks             EUR         11,094,844.27

Other liabilities                     EUR          5,749,916.65

Trade creditors (for IAS incl. bills

of exchange)                         EUR          5,277,185.45

Liabililties due to related companiesEUR             55,273.75

Unspecified other liabilities        EUR            417,457.45

 

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

Code (HGB)

Sales                                  EUR        109,415,848.48

Other operating income                 EUR            729,283.56

Cost of materials                      EUR         95,946,106.59

Raw materials and supplies, purchased

goods                                 EUR         95,946,106.59

Gross result (+/-)                     EUR         14,199,025.45

Staff expenses                         EUR          4,919,531.61

Wages and salaries                    EUR          4,099,758.44

Social security contributions and

expenses for pension plans and

benefits                              EUR            819,773.17

Total depreciation                     EUR            463,289.38

Depreciation on tangible / intangible

asssets (incl. start-up and exp. of

bus.                                  EUR            463,289.38

Other operating expenses               EUR          6,491,701.89

Operating result from continuing

operations                             EUR          2,324,502.57

Interest result (+/-)                  EUR           -221,031.91

Interest and similar income           EUR             18,486.81

Interest and similar expenses         EUR            239,518.72

Other financial result                 EUR                238.01

Income from securities and loans from

financial assets                      EUR                238.01

Financial result (+/-)                 EUR           -220,793.90

Result from ordinary operations (+/-)  EUR          2,103,708.67

Income tax / refund of income tax (+/-)EUR           -644,716.47

Other taxes / refund of taxes          EUR            -28,686.11

Tax (+/-)                              EUR           -673,402.58

Annual surplus / annual deficit        EUR          1,430,306.09

 

Type of balance

sheet:               Company balance sheet

 

Financial year:      01.01.2010 - 31.12.2010

 

ASSETS                                  EUR         31,942,615.41

Fixed assets                           EUR          6,125,589.59

Intangible assets                     EUR            695,462.97

Concessions, licences, rights        EUR             13,739.83

Goodwill                             EUR            681,723.14

Tangible assets                       EUR          5,273,691.39

Land / similar rights                EUR          4,600,967.95

Other tangible assets / fixtures and

fittings                             EUR            672,723.44

Financial assets                      EUR            156,435.23

Shares in participations /

subsidiaries and the like            EUR            149,785.23

Shares in investee companies        EUR            149,785.23

Other loans                          EUR              6,650.00

Current assets                         EUR         25,245,995.30

Stocks                                EUR         16,726,532.18

Raw materials, consumables and

supplies                             EUR              5,000.00

Finished goods / work in progress    EUR         16,721,532.18

Accounts receivable                   EUR          6,639,239.61

Trade debtors                        EUR          4,931,831.78

Amounts due from related companies   EUR            141,957.14

Amounts due from investee companies  EUR            356,392.01

Other debtors and assets             EUR          1,209,058.68

Liquid means                          EUR          1,880,223.51

Remaining other assets                 EUR            571,030.52

Accruals (assets)                     EUR              7,387.52

Deferred taxes (assets)               EUR            563,643.00

 

LIABILITIES                             EUR         31,942,615.41

Shareholders' equity                   EUR         21,784,760.86

Capital                               EUR          5,500,000.00

Subscribed capital (share capital)   EUR          5,500,000.00

Reserves                              EUR          2,608,843.82

Capital reserves                     EUR          2,556,459.41

Retained earnings / revenue reserves EUR             52,384.41

Balance sheet profit/loss (+/-)       EUR         13,675,917.04

Profit / loss brought forward        EUR         10,167,252.54

Annual surplus / annual deficit      EUR          3,508,664.50

Provisions                             EUR          1,271,932.81

Pension provisions and comparable

provisions                            EUR            629,274.00

Provisions for taxes                  EUR            470,000.00

Other / unspecified provisions        EUR            172,658.81

Liabilities                            EUR          8,885,921.74

Financial debts                       EUR          3,729,550.00

Liabilities due to banks             EUR          3,729,550.00

Other liabilities                     EUR          5,156,371.74

Trade creditors (for IAS incl. bills

of exchange)                         EUR          4,428,633.29

Liabililties due to related companiesEUR            257,909.31

Unspecified other liabilities        EUR            469,829.14

 

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

Code (HGB)

Sales                                  EUR         82,192,454.83

Other operating income                 EUR          1,140,966.81

Cost of materials                      EUR         67,348,418.09

Raw materials and supplies, purchased

goods                                 EUR         67,348,418.09

Gross result (+/-)                     EUR         15,985,003.55

Staff expenses                         EUR          4,077,213.08

Wages and salaries                    EUR          3,393,154.32

Social security contributions and

expenses for pension plans and

benefits                              EUR            684,058.76

Total depreciation                     EUR            500,324.26

Depreciation on tangible / intangible

asssets (incl. start-up and exp. of

bus.                                  EUR            500,324.26

Other operating expenses               EUR          6,277,406.91

Operating result from continuing

operations                             EUR          5,130,059.30

Interest result (+/-)                  EUR            -58,434.13

Interest and similar income           EUR             11,425.82

Interest and similar expenses         EUR             69,859.95

Other financial result                 EUR                 50.93

Income from securities and loans from

financial assets                      EUR                 50.93

Financial result (+/-)                 EUR            -58,383.20

Result from ordinary operations (+/-)  EUR          5,071,676.10

Extraordinary income                   EUR             26,174.00

Extraordinary expenses                 EUR             87,247.00

Extraordinary result (+/-)             EUR            -61,073.00

Income tax / refund of income tax (+/-)EUR         -1,473,144.99

Other taxes / refund of taxes          EUR            -28,793.61

Tax (+/-)                              EUR         -1,501,938.60

Annual surplus / annual deficit        EUR          3,508,664.50

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.73

UK Pound

1

Rs.100.92

Euro

1

Rs.84.06

 

 

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%)

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.