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Report Date : |
18.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
DANIS EDELSTEINHANDEL GMBH |
|
|
|
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Registered Office : |
Uhlandstr. 2 D 75233 Tiefenbronn |
|
|
|
|
Country : |
Germany |
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|
|
|
Financials (as on) : |
31.12.2010 |
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|
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Date of Incorporation : |
08.12.1983 |
|
|
|
|
Legal Form : |
Private limited company |
|
|
|
|
Line of Business : |
Wholesale of clocks and watches and jewelry |
|
|
|
|
No. of Employees : |
06 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
Unknown |
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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
DANIS EDELSTEINHANDEL
GMBH
Company Status: active
Uhlandstr. 2
D 75233 Tiefenbronn
Telephone:07234/9555-0
Telefax: 07234/9555-55
LEGAL FORM Private limited company
Date of foundation: 1983
Shareholders'
agreement: 04.11.1983
Registered on: 08.12.1983
Commercial Register: Local court 68159 Mannheim
under: HRB 501745
Share capital: EUR 25,564.59
Shareholder:
Ytzhak Dankner
IL Heryliya
Share: EUR 25,564.59
Manager:
Haim Nissim
Uhlandstr. 2
D 75233 Tiefenbronn
born: 06.01.1949
Profession: Businessman
Marital status: married
Sectors
46480 Wholesale of clocks and watches and jewelry
47770 Retail sale of clocks, watches and jewelry
Payment experience: within agreed terms
Negative information:We have no negative information at hand.
BALANCE SHEET
YEAR: 2011
Type of ownership: Tenant
Address Uhlandstr. 2
D 75233 Tiefenbronn
Real Estate of: Haim Nissim
Type of ownership: Tenant
Address Uhlandstr. 2
D 75233 Tiefenbronn
Land register documents were not available.
COMMERZBANK VORMALS DRESDNER BANK, PFORZHEIM
Sort. code: 66680013, BIC: DRESDEFF666
VOLKSBANK WILFERDINGEN-KELTERN, REMCHINGEN
Sort. code: 66692300, BIC: GENODE61WIR
Turnover: 2011 EUR 790,000.00
Profit: 2011 EUR 482,553.00
Ac/ts receivable: EUR 3,489,736.00
Liabilities: EUR 7,298,514.00
Total numbers of vehicles: 1
Employees: 6
Balance sheet ratios 01.01.2011 - 31.12.2011
Equity ratio [%]: 11.75
Liquidity ratio: 0.51
Return on total capital [%]: 5.67
Balance sheet ratios 01.01.2010 - 31.12.2010
Equity ratio [%]: 7.19
Liquidity ratio: 0.56
Return on total capital [%]: 0.79
Balance sheet ratios 01.01.2009 - 31.12.2009
Equity ratio [%]: 6.46
Liquidity ratio: 0.62
Return on total capital [%]: -1.29
Balance sheet ratios 01.01.2008 - 31.12.2008
Equity ratio [%]: 8.59
Liquidity ratio: 0.49
Return on total capital [%]: 1.03
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 8,511,549.37
Fixed assets EUR 543,107.47
Tangible assets EUR 35,572.09
Other / unspecified tangible assets EUR 35,572.09
Financial assets EUR 507,535.38
Other / unspecified financial assets EUR 507,535.38
Current assets EUR 7,962,100.17
Stocks EUR 3,961,832.04
Accounts receivable EUR 3,489,736.33
Other debtors and assets EUR 3,489,736.33
Liquid means EUR 510,531.80
Remaining other assets EUR 6,341.73
Accruals (assets) EUR 6,341.73
LIABILITIES EUR 8,511,549.37
Shareholders' equity EUR 1,000,016.29
Capital EUR 25,564.59
Subscribed capital (share capital) EUR 25,564.59
Balance sheet profit/loss (+/-) EUR 974,451.70
Profit / loss brought forward EUR 491,898.56
Annual surplus / annual deficit EUR 482,553.14
Provisions EUR 213,019.00
Liabilities EUR 7,298,514.08
Other liabilities EUR 7,298,514.08
Unspecified other liabilities EUR 7,298,514.08
Type of balance sheet:
Company balance sheet
Financial year: 01.01.2010 - 31.12.2010
ASSETS EUR 7,081,491.08
Fixed assets EUR 552,150.09
Tangible assets EUR 49,553.09
Other / unspecified tangible assets EUR 49,553.09
Financial assets EUR 502,597.00
Other / unspecified financial assets EUR 502,597.00
Current assets EUR 6,519,675.78
Stocks EUR 2,721,341.00
Accounts receivable EUR 3,557,645.63
Other debtors and assets EUR 3,557,645.63
Liquid means EUR 240,689.15
Remaining other assets EUR 9,665.21
Accruals (assets) EUR 6,767.21
Deferred taxes (assets) EUR 2,898.00
LIABILITIES EUR 7,081,491.08
Shareholders' equity EUR 508,928.00
Capital EUR 25,564.59
Subscribed capital (share capital) EUR 25,564.59
Balance sheet profit/loss (+/-) EUR 483,363.41
Profit / loss brought forward EUR 427,143.20
Annual surplus / annual deficit EUR 56,220.21
Provisions EUR 23,271.00
Liabilities EUR 6,549,292.08
Other liabilities EUR 6,549,292.08
Unspecified other liabilities EUR 6,549,292.08
DIAMOND INDUSTRY – INDIA
-
From time immemorial, India is well known in the world
as the birthplace for diamonds. It is difficult to trace the origin of
diamonds but history says that in the remote past, diamonds were mined only in
India. Diamond production in India can be traced back to almost 8th
Century B.C. India, in fact, remained undisputed leader till 18th
Century when Brazilian fields were discovered in 1725 followed by emergence of
S. Africa, Russia and Australia.
-
The achievement of the Indian diamond industry was
possible only due to combination of the manufacturing skills of the Indian
workforce and the untiring and unflagging efforts of the Indian diamantaires,
supported by progressive Government policies.
-
The area of study of family owned diamond businesses
derives its importance from the huge conglomerate of family run organizations
which operate in the diamond industry since many generations.
-
Some of the basic traits of family run business
enterprises include spirit of entrepreneurship, mutual trust lowers transaction
costs, small, nimble and quick to react, information as a source of advantage
and philanthropy.
-
Family owned diamond businesses need to improve on
many fronts including higher standard of corporate governance, long-term
performance – focused strategies, modern management and technology.
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Utmost caution is to be exercised while dealing with
some medium and large diamond traders which are usually engaged in fictitious
import – export, inter-company transactions, financially assisted by banks. In
the process, several public sector banks lost several hundred million rupees.
They mostly diverted borrowed money for diamond business into real estate and
capital markets.
-
Excerpts from Times of India dated 30th
October 2010 is as under –
-
Gem & Jewellery Export Promotion Council in its
statistical data has shown the export of polished diamonds to have increase by 28
% in February 2013. Compared to $ 1.4 bn worth of polished diamond export in
February, 2012, India exported $ 1.84 billion worth of polished diamonds in
February 2013. A senior executive of GJEPC said, “Export of cut and polished
diamonds started falling month-wise after the imposition of 2 % of import duty
on the polished diamonds. But February, 2013 has given a new ray of hope to the
industry as the export of polished diamonds has actually increased by 28 %. It
means the industry is on the track of recovery and round tripping of
diamonds has stopped completely.” Demand has started coming from the US, the
UK, Japan and China. India’s polished diamond export is expected to cross $ 21
bn in 2013-14.
-
The banking sector has started exercising restraint
while following prudent risk management norms when lending money to gems and
jewellery sector. This follows the implementation of Basel III accord – a
global voluntary regulatory standard on bank capital adequacy, stress testing
and market liquidity.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.06 |
|
|
1 |
Rs.101.15 |
|
Euro |
1 |
Rs.84.95 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIS |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.