MIRA INFORM REPORT

 

 

Report Date :

12.11.2013

 

IDENTIFICATION DETAILS

 

Name :

RAPUNZEL NATURKOST GMBH

 

 

Registered Office :

Rapunzelstr. 1, D 87764 Legau

 

 

Country :

Germany

 

 

Financials (as on) :

31.12.2011

 

 

Year of Incorporation :

1975

 

 

Com. Reg. No.:

HRB 14736

 

 

Legal Form :

Private limited company

 

 

Line of Business :

Growing of Vegetables, Melons and Roots and Tubers

 

 

No. of Employees :

265

 

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 :

Slow But Correct

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          

 

Rapunzel Naturkost GmbH

 

 

Company Status  

 

Active

Rapunzelstr. 1

D 87764 Legau

Telephone:08330/5290

Telefax:  08330/5291188

Homepage: www.rapunzel.de

E-mail:   info@rapunzel.de

 

VAT no.:             DE129088402

 

 

CONCLUSION

 

The company is considered solvent for credits within its scope of business.

 

 

LEGAL FORM               Private limited company

Date of foundation:         1975

Shareholders'

agreement:                    21.07.2011

Registered on:               02.08.2011

Commercial Register:     Local court 87700 Memmingen

under:                                       HRB 14736

 

Share capital:                EUR          2,106,000.00

 

Shareholder:

                                    JKW Vermögensverwaltungs GmbH

                                    Oberhofen 37

                                    D 87452 Altusried

                                    Legal form: Private limited company

                                    Share capital:     EUR          1,179,000.00

                                    Share:             EUR          2,106,000.00

                                    Registered on: 26.03.2007

                                    Reg. data: 87435 Kempten, HRB 9393

Manager:

                                    Joseph Konrad Wilhelm

                                    Oberhofen 37 OT Kimratshofen

                                    D 87452 Altusried

                                    having sole power of representation

                                    born: 16.01.1954

                                    Marital status: single

Manager:

                                    Margarethe Epple

                                    D 87452 Altusried

                                    having sole power of representation

                                    born: 01.08.1959

Manager:

                                    Andreas Wenning

                                    D 88260 Argenbühl

                                    having sole power of representation

                                    born: 08.03.1965

 

Further functions/participations of Joseph Konrad Wilhelm

(Manager)

Shareholder:

                                    JKW Vermögensverwaltungs GmbH

                                    Oberhofen 37

                                    D 87452 Altusried

                                    Legal form: Private limited company

                                    Share capital:     EUR          1,179,000.00

                                    Share:             EUR          1,179,000.00

                                    Registered on:         26.03.2007

                                    Reg. data:  87435 Kempten, HRB 9393

Manager:

                                    JKW Vermögensverwaltungs GmbH

                                    Oberhofen 37

                                    D 87452 Altusried

                                     Legal form: Private limited company

                                    Share capital:     EUR          1,179,000.00

                                    Registered

                                    on:         26.03.2007

                                    Reg. data:  87435 Kempten, HRB 9393

 

Further functions/participations of Margarethe Epple (Manager)

Proprietor:

                                    GESUND & FEIN Naturkost Inh. Margit Epple

                                    e.K.

                                    Memminger Str. 75

                                    D 87439 Kempten

                                    Legal form: Sole proprietorship

                                    Registered

                                    on:         16.08.1996

                                    Reg. data:  87435 Kempten, HRA 4133

 

 

COMPANY HISTORY

 

1975 - 06.04.1987                      Rapunzel Naturkost Josef Wilhelm

                                                            Haldergasse 9

                                                            D 87764 Legau

                                                            Sole proprietorship

07.04.1987 - 25.06.1990             Rapunzel Naturkost GmbH & Co.

                                                            Haldergasse 9

                                                            D 87764 Legau

                                                            Ltd partnership with priv. ltd. company

                                                            as general partner

26.06.1990 - 14.04.2005             Rapunzel Naturkost GmbH

                                                            Haldergasse 9

                                                            D 87764 Legau

                                                            Private limited company

14.04.2005 - 16.01.2007             Rapunzel Naturkost Aktiengesellschaft

                                                            Haldergasse 9

                                                            D 87764 Legau

                                                            Public limited company

16.01.2007 - 02.08.2011             Rapunzel Naturkost Aktiengesellschaft

                                                            Rapunzelstr. 1

                                                            D 87764 Legau

                                                            Public limited company

 

 

BUSINESS ACTIVITIES

 

Main industrial sector

0113    Growing of vegetables, melons and roots and tubers

3299    Other manufacturing n.e.c.

 

Secondary industrial sector

46389   Wholesale of food n.e.c.

4721    Retail sale of fruit and vegetables

 

 

BRANCHES AND FACTORIES

 

Branch:

                     Rapunzel Naturkost GmbH

                     Hinter den Gärten 9

                     D 87730 Bad Grönenbach

 

 

PARTICIPATIONS

 

Shareholder:

                     BioGourmet GmbH

                     Ochsenweg 1

                     D 71729 Erdmannhausen

                     Legal form: Private limited company

                     Company Status: active

                     Share capital:     EUR             27,000.00

                     Share:        EUR             27,000.00

                     Reg. data:  16.02.2011

                     Local court 70190 Stuttgart

                     HRB 736632

 

 

FINANCIAL INFORMATION

 

Payment experience:     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                        Hinter den Gärten 9

                                    D 87730 Bad Grönenbach

 

Type of ownership:         Tenant

Address                        Rapunzelstr. 1

                                    D 87764 Legau

 

Real Estate of:               Joseph Konrad Wilhelm

Type of ownership:         Tenant

Address                        Oberhofen 37

                                    D 87452 Altusried

 

Land register documents were not available.

 

 

BANKERS

 

Principal bank

COMMERZBANK KEMPTEN ALLGÄU, KEMPTEN (ALLGÄU)

Sort. code: 73340046, Account no.: 7748007, BIC: COBADEFF733

 

Further banks

VR-BANK MEMMINGEN, LEGAU

Sort. code: 73190000, Account no.: 715018, BIC: GENODEF1MM1

DEUTSCHE BANK, MEMMINGEN

Sort. code: 73370008, Account no.: 120822200, BIC: DEUTDEMM733

POSTBANK (GIRO), MÜNCHEN

Sort. code: 70010080, Account no.: 137327805, BIC: PBNKDEFF700

LANDESBANK BADEN-WÜRTTEMBERG/BADEN-WÜRTTEMBERGISCHE BANK,

STUTTGART

Sort. code: 60050101, Account no.: 4549055, BIC: SOLADEST600

 

 

FINANCIAL FIGURES

 

Turnover:                                   2011                  EUR                             ,861,962.00

Profit:                                        2011                EUR                  9,109,241.00

Equipment:                                                        EUR                 518,545.00

Ac/ts receivable:                                                EUR              9,532,228.00

Liabilities:                                                          120EUR            25,690,438.00

Employees:                                                                                           265

- thereof permanent staff:                                                                                    190

- Part-time employees:                                                                                         52

- Trainees:                                                                                                          13

 

 

BALANCE SHEETS

 

Balance sheet ratios 01.01.2011 - 31.12.2011

Equity ratio [%]:                         37.10

Liquidity ratio:                             0.37

Return on total capital [%]:       18.32

 

Balance sheet ratios 01.01.2010 - 31.12.2010

Equity ratio [%]:                         54.54

Liquidity ratio:                            0.55

Return on total capital [%]:        9.83

 

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         49,753,647.89

 Fixed assets                           EUR         21,911,716.47

  Intangible assets                     EUR            117,654.00

   Concessions, licences, rights        EUR             77,821.00

   Goodwill                             EUR             39,833.00

  Tangible assets                       EUR         18,809,809.91

   Land / similar rights                EUR         15,356,380.91

   Plant / machinery                    EUR          2,884,884.00

   Other tangible assets / fixtures and

   fittings                             EUR            518,545.00

   Advance payments made / construction

   in progress                          EUR             50,000.00

  Financial assets                      EUR          2,984,252.56

   Shares in participations /

   subsidiaries and the like            EUR          2,888,702.58

    Shares in related companies         EUR          2,888,702.58

   Securities included in fixed assets  EUR              1,131.81

   Other loans                          EUR             94,418.17

 Current assets                         EUR         27,505,161.69

  Stocks                                EUR         17,956,031.67

   Raw materials, consumables and

   supplies                             EUR          9,001,192.83

   Finished goods / work in progress    EUR          8,118,989.57

   Advance payments made                EUR            835,849.27

  Accounts receivable                   EUR          9,532,228.00

   Trade debtors                        EUR          9,121,631.34

   Other debtors and assets             EUR            410,596.66

  Liquid means                          EUR             16,902.02

 Remaining other assets                 EUR            336,769.73

  Accruals (assets)                     EUR            226,879.36

  Active difference from asset

  offsetting                            EUR            109,890.37

 

LIABILITIES                             EUR         49,753,647.89

 Shareholders' equity                   EUR         18,485,720.39

  Capital                               EUR          2,106,000.00

   Subscribed capital (share capital)   EUR          2,106,000.00

  Reserves                              EUR          7,270,479.55

   Capital reserves                     EUR          1,882,076.67

   Retained earnings / revenue reserves EUR          5,388,402.88

  Balance sheet profit/loss (+/-)       EUR          9,109,240.84

   Annual surplus / annual deficit      EUR          9,109,240.84

 Provisions                             EUR          5,577,489.05

  Pension provisions and comparable

  provisions                            EUR              9,265.00

  Provisions for taxes                  EUR          1,972,974.00

  Other / unspecified provisions        EUR          3,595,250.05

 Liabilities                            EUR         25,690,438.45

  Financial debts                       EUR         18,460,626.97

   Liabilities due to banks             EUR         18,460,626.97

  Other liabilities                     EUR          7,229,811.48

   Trade creditors (for IAS incl. bills

   of exchange)                         EUR          6,689,857.27

   Liabililties due to related companiesEUR            217,792.00

   Unspecified other liabilities        EUR            322,162.21

    thereof liabilities from tax /

    financial authorities               EUR             81,335.29

    thereof liabilities from social

    security                            EUR              2,456.39

 

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

Code (HGB)

 Sales                                  EUR        120,861,961.97

 Inventory change + own costs (+/-)     EUR            517,451.85

  Inventory change (+/-)                EUR            517,451.85

 Other operating income                 EUR          3,749,416.09

 Cost of materials                      EUR         84,342,914.81

  Raw materials and supplies, purchased

  goods                                 EUR         82,390,889.60

  Purchased services                    EUR          1,952,025.21

 Gross result (+/-)                     EUR         40,785,915.10

 Staff expenses                         EUR         11,952,866.44

  Wages and salaries                    EUR         10,264,346.83

  Social security contributions and

  expenses for pension plans and

  benefits                              EUR          1,688,519.61

 Total depreciation                     EUR          1,982,127.52

  Depreciation on tangible / intangible

  asssets (incl. start-up and exp. of

  bus.                                  EUR          1,852,127.52

  Depreciation on current assets (+/-)  EUR            130,000.00

 Other operating expenses               EUR         14,077,723.27

 Operating result from continuing

 operations                             EUR         12,773,197.87

 Result from participating interests

 (+/-)                                  EUR             98,300.00

  Expenses / income from participations EUR             98,300.00

   Income from related companies        EUR             98,300.00

 Interest result (+/-)                  EUR           -448,629.03

  Interest and similar income           EUR            139,743.30

  Interest and similar expenses         EUR            588,372.33

   thereof paid to related companies    EUR                  0.00

 Other financial result                 EUR                902.48

  Income from securities and loans from

  financial assets                      EUR              1,412.12

  Depreciation on financial assets and

  marketable securities                 EUR                509.64

 Financial result (+/-)                 EUR           -349,426.55

 Result from ordinary operations (+/-)  EUR         12,423,771.32

 Income tax / refund of income tax (+/-)EUR         -3,276,265.55

 Other taxes / refund of taxes          EUR            -38,264.93

 Tax (+/-)                              EUR         -3,314,530.48

 Annual surplus / annual deficit        EUR          9,109,240.84

 

Type of balance

sheet:               Company balance sheet

 

Financial year:      01.01.2010 - 31.12.2010

 

ASSETS                                  EUR         47,166,174.12

 Fixed assets                           EUR         22,842,969.30

  Intangible assets                     EUR            189,262.00

   Concessions, licences, rights        EUR            141,043.00

   Goodwill                             EUR             48,219.00

  Tangible assets                       EUR         19,658,034.91

   Land / similar rights                EUR         15,985,049.91

   Plant / machinery                    EUR          3,058,452.00

   Other tangible assets / fixtures and

   fittings                             EUR            614,533.00

  Financial assets                      EUR          2,995,672.39

   Shares in participations /

   subsidiaries and the like            EUR          2,897,633.53

    Shares in related companies         EUR          2,897,633.53

   Securities included in fixed assets  EUR              1,131.81

   Other loans                          EUR             96,907.05

 Current assets                         EUR         23,898,005.38

  Stocks                                EUR         14,825,187.13

   Raw materials, consumables and

   supplies                             EUR          7,248,956.78

   Finished goods / work in progress    EUR          7,549,602.41

   Advance payments made                EUR             26,627.94

  Accounts receivable                   EUR          8,822,362.68

   Trade debtors                        EUR          8,211,832.30

   Other debtors and assets             EUR            610,530.38

  Liquid means                          EUR            250,455.57

 Remaining other assets                 EUR            425,199.44

  Accruals (assets)                     EUR            242,758.11

  Other assets                          EUR            182,441.33

 

LIABILITIES                             EUR         47,166,174.12

 Shareholders' equity                   EUR         25,720,959.55

  Capital                               EUR          2,106,000.00

   Subscribed capital (share capital)   EUR          2,106,000.00

  Reserves                              EUR         10,882,076.67

   Capital reserves                     EUR          1,882,076.67

   Retained earnings / revenue reserves EUR          9,000,000.00

  Balance sheet profit/loss (+/-)       EUR         12,732,882.88

   Profit / loss brought forward        EUR          8,111,475.07

   Annual surplus / annual deficit      EUR          4,621,407.81

 Provisions                             EUR          5,089,733.33

  Pension provisions and comparable

  provisions                            EUR             66,378.00

  Provisions for taxes                  EUR            329,426.74

  Other / unspecified provisions        EUR          4,693,928.59

 Liabilities                            EUR         16,355,481.24

  Financial debts                       EUR          8,933,276.88

   Liabilities due to banks             EUR          8,933,276.88

  Other liabilities                     EUR          7,422,204.36

   Trade creditors (for IAS incl. bills

   of exchange)                         EUR          6,040,714.34

   Liabililties due to related companiesEUR            995,116.21

   Unspecified other liabilities        EUR            386,373.81

    thereof liabilities from tax /

    financial authorities               EUR            201,813.06

    thereof liabilities from social

    security                            EUR              6,790.68

 

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

Code (HGB)

 Sales                                  EUR        107,614,633.75

 Inventory change + own costs (+/-)     EUR            321,504.04

  Inventory change (+/-)                EUR            321,504.04

 Other operating income                 EUR          1,457,473.33

 Cost of materials                      EUR         72,322,848.21

  Raw materials and supplies, purchased

  goods                                 EUR         70,451,104.58

  Purchased services                    EUR          1,871,743.63

 Gross result (+/-)                     EUR         37,070,762.91

 Staff expenses                         EUR         11,916,609.53

  Wages and salaries                    EUR         10,285,545.01

  Social security contributions and

  expenses for pension plans and

  benefits                              EUR          1,631,064.52

 Total depreciation                     EUR          1,863,438.18

  Depreciation on tangible / intangible

  asssets (incl. start-up and exp. of

  bus.                                  EUR          1,863,438.18

 Other operating expenses               EUR         16,372,774.95

 Operating result from continuing

 operations                             EUR          6,917,940.25

 Interest result (+/-)                  EUR           -527,424.96

  Interest and similar income           EUR             91,331.11

  Interest and similar expenses         EUR            618,756.07

   thereof paid to related companies    EUR              6,366.80

 Other financial result                 EUR               -605.41

  Income from securities and loans from

  financial assets                      EUR                982.83

  Depreciation on financial assets and

  marketable securities                 EUR              1,588.24

 Financial result (+/-)                 EUR           -528,030.37

 Result from ordinary operations (+/-)  EUR          6,389,909.88

 Extraordinary income                   EUR             26,360.21

 Extraordinary expenses                 EUR             30,024.00

 Extraordinary result (+/-)             EUR             -3,663.79

 Income tax / refund of income tax (+/-)EUR         -1,712,139.20

 Other taxes / refund of taxes          EUR            -52,699.08

 Tax (+/-)                              EUR         -1,764,838.28

 Annual surplus / annual deficit        EUR          4,621,407.81

 

Inconsistent balance sheets:

Financial year                                                                                                                            published on

01.01.2009-31.12.2009      03.11.2010

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.30

UK Pound

1

Rs.101.36

Euro

1

Rs.84.60

 

 

INFORMATION DETAILS

 

Report Prepared by :

SHG

 

 

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.