|
Report Date : |
15.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
"LERROS MODEN GMBH" |
|
|
|
|
Registered Office : |
Im Taubental 35, D 41468 Neuss |
|
|
|
|
Country : |
Germany |
|
|
|
|
Financials (as on) : |
31.03.2012 |
|
|
|
|
Date of Incorporation : |
13.01.1983 |
|
|
|
|
Com. Reg. No.: |
HRB 3775 |
|
|
|
|
Legal Form : |
Private limited company |
|
|
|
|
Line of Business : |
Manufacture of other outerwear |
|
|
|
|
No. of Employees : |
162 (permanent staff 152 + 10 Temporary workers) |
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 |
"LERROS MODEN GMBH"
Company Status: active
Im Taubental 35
D 41468 Neuss
Telephone:02131/3606-0
Telefax: 02131/3606-100
Homepage: www.lerros.de
E-mail:
info@lerros.de
DE120683723
LEGAL FORM Private
limited company
Date of foundation: 13.01.1983
Shareholders'
agreement: 13.01.1983
Registered on: 09.05.1983
Commercial Register: Local court 41460 Neuss
under: HRB
3775
EUR 766,937.82
Pallas
Holding Ltd.
MS -
Port Louis
Legal form: Other legal form
Share: EUR 421,815.80
Shareholder:
Transnational Textile Group Limited
MS -
Port Louis
Legal
form: Other legal form
Share: EUR 344,468.08
Shareholder:
Arun
Gujral
Hildegundisallee 39
D
40667 Meerbusch
born:
28.01.1954
Share: EUR 653.94
Manager:
Arun
Gujral
Hildegundisallee 39
D
40667 Meerbusch
having
sole power of representation
born: 28.01.1954
Profession: Businessman
Marital status: married
Manager:
Pulkit
Seth -Kaufmann-
RC -
Hong Kong
having
sole power of representation
born:
05.02.1980
Nationality: Chinese
Manager:
Pallak
Seth
GB -
London
having
sole power of representation
born:
13.08.1977
Profession: Businessman
Nationality: British
Manager:
Jan
ten Brinke
D
50667 Köln
born:
13.11.1973
Proxy:
Gaurav
Dar
D
41460 Neuss
authorized to jointly represent the company
born:
01.08.1975
Further
functions/participations of Arun Gujral (Manager)
Shareholder:
Request Werbeagentur GmbH
Im
Taubental 35
D
41468 Neuss
Legal
form: Private limited company
Share
capital: EUR 25,564.60
Share: EUR 12,782.30
Registered
on: 11.05.1987
Reg.
data: 41460 Neuss, HRB 4800
Manager:
Request Werbeagentur GmbH
Im Taubental
35
D
41468 Neuss
Legal
form: Private limited company
Share
capital: EUR 25,564.60
Registered
on: 11.05.1987
Reg. data: 41460 Neuss, HRB 4800
Manager:
LERROS
Retail GmbH
Im
Taubental 35
D
41468 Neuss
Legal
form: Private limited company
Share capital: EUR 500,000.00
Registered
on: 13.11.2007
Reg.
data: 41460 Neuss, HRB 14403
Further
functions/participations of Pallak Seth (Manager)
permanent representative:
Norwest Industries Limited
Zweigniederlassung Deutschland
Tiergartenstr. 9
D
64646 Heppenheim
Legal
form: Branch of a private limited
company under foreign law
Share
capital: USD 1,200,000.00
Registered
on: 02.05.2013
Reg.
data: 64283 Darmstadt, HRB 92162
Shareholder:
GALLERY NATURE MORTE BERLIN GMBH
Weydingerstr. 6
D
10178 Berlin
Legal
form: Private limited company
Share
capital: EUR 28,000.00
Share: EUR 28,000.00
Registered
on: 08.07.2013
Reg.
data: 14057 Berlin, HRB 151208 B
Manager:
Norwest Industries Limited
Zweigniederlassung Deutschland
Tiergartenstr. 9
D
64646 Heppenheim
Legal
form: Branch of a private limited
company under foreign law
Share
capital: USD 1,200,000.00
Registered
on: 02.05.2013
Reg.
data: 64283 Darmstadt, HRB 92162
RESIGNED ACTING PERSONS AND
SHAREHOLDERS
04.04.2012 -
16.07.2013 Manager
Marianne Ritter
D
30159 Hannover
Main industrial sector
1413 Manufacture of other outerwear
46421 Wholesale of clothing
Limited partner:
BT
Solar Zwei GmbH & Co KG
Pastoratsweg 8
D
40489 Düsseldorf
Legal
form: Ltd partnership with priv. ltd.
company as
general partner
Company Status: active
Total
cap. EUR 2,000.00
contribution:
Share: EUR 1,000.00
Reg.
data: 09.12.2010
Local court 40227 Düsseldorf
HRA 21323
Shareholder:
LERROS
Retail GmbH
Im
Taubental 35
D
41468 Neuss
Legal
form: Private limited company
Company Status: active
Share
capital: EUR 500,000.00
Share: EUR 500,000.00
Reg.
data: 13.11.2007
Local court 41460 Neuss
HRB 14403
Payment experience: within
agreed terms
Negative information: We have no negative information at hand.
Balance sheet year: 2011/2012
Type of ownership: proprietor
Share: 100.00 %
Address Im Taubental 35
D 41468 Neuss
Real Estate of: Arun
Gujral
Type of ownership: unknown
Address Hildegundisallee
39
D 40667 Meerbusch
Land register documents
were not available.
Principal bank
WARBURG, M.M.- BANK,
HAMBURG
Sort. code: 20120100, BIC:
WBWCDEHHXXX
Further banks
BHF-BANK, DÜSSELDORF
Sort. code: 30020500, BIC:
BHFBDEFF300
VOLKSBANK DÜSSELDORF NEUSS,
DÜSSELDORF
Sort. code: 30160213, BIC:
GENODED1DNE
Gross profit or loss:2010/2011 EUR
22,585,773.00
2011/2012 EUR 24,823,630.00
Profit: 2011/2012 EUR -371,605.00
further business figures:
Equipment: EUR 940,907.00
Ac/ts receivable: EUR 8,717,837.00
Liabilities: EUR 11,515,692.00
Employees:
162
- thereof permanent staff: 152
- Temporary workers: 10
Balance sheet ratios 01.04.2011 - 31.03.2012
Equity ratio [%]: 33.39
Liquidity ratio: 0.81
Return on total capital [%]: -1.88
Balance sheet ratios 01.04.2010 - 31.03.2011
Equity ratio [%]: 37.95
Liquidity ratio: 0.93
Return on total capital [%]: -1.60
Balance sheet ratios 01.04.2009 - 31.03.2010
Equity ratio [%]: 38.57
Liquidity ratio: 1.30
Return on total capital [%]: 3.20
Balance sheet ratios 01.04.2008 - 31.03.2009
Equity ratio [%]: 42.60
Liquidity ratio: 2.15
Return on total capital [%]: 0.19
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: 01.04.2011 - 31.03.2012
ASSETS EUR 20,050,766.05
Fixed assets EUR 3,499,412.93
Intangible assets EUR 212,071.00
Other / unspecified intangible
assetsEUR 212,071.00
Tangible assets EUR 2,147,135.00
Land / similar rights EUR 1,206,228.00
Other
tangible assets / fixtures and
fittings EUR 940,907.00
Financial assets EUR 1,140,206.93
Shares in participations /
subsidiaries and the like EUR 741,114.70
Shares in related companies EUR 740,770.00
Shares in investee companies EUR 344.70
Other / unspecified financial assets
EUR 399,092.23
Current assets EUR
16,436,732.86
Stocks EUR 6,713,644.00
Accounts receivable EUR 8,717,837.07
Amounts due from related companies EUR 894,228.00
Other debtors and assets EUR 7,823,609.07
Liquid means EUR 1,005,251.79
Remaining other assets EUR 114,620.26
Accruals (assets) EUR 86,789.26
Deferred taxes (assets) EUR 27,831.00
LIABILITIES EUR 20,050,766.05
Shareholders' equity EUR 6,530,383.68
Capital EUR 766,937.82
Subscribed capital (share capital) EUR 766,937.82
Balance sheet profit/loss (+/-) EUR 5,763,445.86
Profit / loss brought forward EUR 6,135,051.14
Annual surplus / annual deficit EUR -371,605.28
Items between shareholders' equity and
debt capital EUR 329,903.00
Mezzanine financing EUR 329,903.00
Contributions for capital increase EUR 329,903.00
Provisions EUR 1,674,787.00
Liabilities EUR 11,515,692.37
Financial debts EUR 4,005,962.00
Liabilities due to banks EUR 4,005,962.00
Other liabilities EUR 7,509,730.37
Liabililties due to related
companiesEUR 1,146,989.00
Unspecified other liabilities EUR 6,362,741.37
PROFIT
AND LOSS ACCOUNT (cost-summary method) according to Comm.
Code (HGB)
Gross result (+/-) EUR 24,823,629.67
Staff expenses EUR 9,459,152.37
Wages and salaries EUR 8,111,742.42
Social security contributions and
expenses for pension plans and
benefits EUR 1,347,409.95
Total depreciation EUR 489,631.61
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus. EUR 489,631.61
Other operating expenses EUR 13,429,579.24
Operating result from continuing
operations EUR 1,445,266.45
Result from participating interests
(+/-) EUR -972,755.56
Expenses for participations EUR 972,755.56
Expenses for other participations EUR 972,755.56
Interest result (+/-) EUR -245,020.41
Interest and similar income EUR 37,161.74
Interest and similar expenses EUR 282,182.15
Other financial result EUR -476,100.24
Income from securities and loans from
financial assets EUR 6,170.32
Depreciation on financial assets and
marketable securities EUR 482,270.56
Financial result (+/-) EUR -1,693,876.21
Result from ordinary operations (+/-) EUR
-248,609.76
Income tax / refund of income tax
(+/-)EUR -95,170.28
Other taxes / refund of taxes EUR -27,825.24
Tax (+/-) EUR -122,995.52
Annual surplus / annual deficit EUR -371,605.28
Type of
balance
sheet: Company balance sheet
Financial year: 01.04.2010 - 31.03.2011
ASSETS EUR 18,041,231.43
Fixed assets EUR 3,926,904.79
Intangible assets EUR 175,668.00
Other / unspecified intangible
assetsEUR 175,668.00
Tangible assets EUR 2,112,526.00
Land / similar rights EUR 1,215,662.00
Other tangible assets / fixtures and
fittings EUR 896,864.00
Financial assets EUR 1,638,710.79
Shares in participations /
subsidiaries and the like EUR 1,224,040.79
Shares in related companies EUR 1,223,040.79
Shares in investee companies EUR 1,000.00
Other
/ unspecified financial assets EUR
414,670.00
Current assets EUR 14,012,577.68
Stocks EUR 5,465,404.23
Accounts receivable EUR 7,710,079.21
Amounts due from related companies EUR 942,853.00
Other debtors and assets EUR 6,767,226.21
Liquid means EUR 837,094.24
Remaining other assets EUR 101,748.96
Accruals (assets) EUR 82,077.96
Deferred taxes (assets) EUR 19,671.00
LIABILITIES EUR 18,041,231.43
Shareholders' equity EUR 6,901,988.96
Capital EUR 766,937.82
Subscribed capital (share capital) EUR 766,937.82
Balance sheet profit/loss (+/-) EUR 6,135,051.14
Profit / loss brought forward EUR 6,469,694.22
Annual surplus / annual deficit EUR -334,643.08
Provisions EUR 1,976,239.20
Liabilities EUR 9,163,003.27
Financial debts EUR 3,735,621.53
Liabilities due to banks EUR 3,735,621.53
Other liabilities EUR 5,427,381.74
Liabililties due to related
companiesEUR 1,081,646.93
Unspecified other liabilities EUR 4,345,734.81
PROFIT
AND LOSS ACCOUNT (cost-summary method) according to Comm.
Code (HGB)
Gross result (+/-) EUR 22,585,773.33
Staff expenses EUR
9,016,608.85
Wages and salaries EUR 7,761,014.66
Social security contributions and
expenses for pension plans and
benefits EUR 1,255,594.19
Total depreciation EUR 891,325.91
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus. EUR 891,325.91
Other operating expenses EUR 10,827,304.78
Operating result from continuing
operations EUR 1,850,533.79
Result from participating interests
(+/-) EUR -967,727.00
Expenses for participations EUR 967,727.00
Expenses for other participations EUR 967,727.00
Interest result (+/-) EUR -229,967.46
Interest and similar income EUR 19,446.15
Interest and similar expenses EUR 249,413.61
Other financial result EUR -699,932.00
Income from securities and loans from
financial assets EUR 68.00
Depreciation on financial assets and
marketable securities EUR 700,000.00
Financial result (+/-) EUR -1,897,626.46
Result from ordinary operations (+/-) EUR
-47,092.67
Extraordinary expenses EUR 47,307.00
Extraordinary result (+/-) EUR -47,307.00
Income tax / refund of income tax
(+/-)EUR -208,706.47
Other taxes / refund of taxes EUR -31,536.94
Tax (+/-) EUR -240,243.41
Annual surplus / annual deficit
EUR -334,643.08
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian
Rupees |
|
US Dollar |
1 |
Rs.61.30 |
|
UK Pound |
1 |
Rs.97.98 |
|
Euro |
1 |
Rs.83.14 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
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.