MIRA INFORM REPORT

 

 

Report Date :

31.10.2013

 

IDENTIFICATION DETAILS

 

Name :

BORAX MORARJI (EUROPE) GMBH

 

 

Registered Office :

Fehrbelliner Platz 1 D 48249 Dülmen

 

 

Country :

Germany

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

06.06.2008

 

 

Legal Form :

Private limited company

 

 

Line of Business :

Wholesale of chemical products

 

 

No. of Employees :

01

 

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 :

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

 

BORAX MORARJI (EUROPE) GMBH

 

Company Status:           active

Fehrbelliner Platz 1

D 48249 Dülmen

Telephone:  02594/78314-00

 

 

Company summary

 

LEGAL FORM               Private limited company

Date of foundation:         06.06.2008

Shareholders'

agreement:                    06.06.2008

Registered on:               01.07.2008

Commercial Register:     Local court 48653 Coesfeld

under:                                       HRB 11315

 

Share capital:                          EUR             25,000.00

 

 

Shareholder:

 

                     The Borax Moraryi Limited

                     Prospect Chambers 317/21

                     Dr. D.N. Road

                     IND 400001 Mumba

                     Legal form: Other legal form

                     Share:             EUR             25,000.00

 

Manager:

 

                     Frank Alexander Czapala

                     Ostfeldmark 32

                     D 48249 Dülmen

                     having sole power of representation

                     born: 22.04.1959

 

 

Further functions/participations of Frank Alexander Czapala

(Manager)

 

Shareholder:

                     CEDA Chemicals GmbH

                     Fehrbelliner Platz 1

                     D 48249 Dülmen

                     Legal form: Private limited company

                     Share capital:     EUR            100,000.00

                     Share:             EUR             40,000.00

                     Registered

                     on:         31.08.2005

                     Reg. data:  48653 Coesfeld, HRB 9796

 

Manager:

                     CEDA Chemicals GmbH

                     Fehrbelliner Platz 1

                     D 48249 Dülmen

                     Legal form: Private limited company

                     Share capital:     EUR            100,000.00

                     Registered

                     on:         31.08.2005

                     Reg. data:  48653 Coesfeld, HRB 9796

 

 

BUSINESS ACTIVITIES

 

Main industrial sector

46750   Wholesale of chemical products

 

 

Payment experience:  within agreed terms

 

Negative information: We have no negative information at hand.

 

 

Balance sheet grade: 2.7     The balance sheet grade ranges from

1.0 to 5.0.  It is based on the

following ratios: equity ratio,

liquidity ratio and return on total

capital from the balance sheets

published in the Federal Gazette.

The balance sheet grade forms part

of the Solvency Rating[NG].

 

BALANCE SHEET YEAR:  2012

 

REAL ESTATE

 

Type of ownership:          Tenant

Address                        Fehrbelliner Platz 1

                                    D 48249 Dülmen

 

Land register documents were not available.

 

 

BANKERS

 

SPARKASSE WESTMÜNSTERLAND, DÜLMEN

Sort. code: 40154530, BIC: WELADE3WXXX

VR-BANK WESTMÜNSTERLAND, DÜLMEN

Sort. code: 42861387, BIC: GENODEM1BOB

 

 

FINANCIAL FIGURES

 

Profit:                                        2011               EUR              2,281.00

                                                2012               EUR              3,438.00

further business figures:

Equipment:                                EUR               1.00

Ac/ts receivable:                       EUR             23,816.00

Liabilities:                                  EUR             60,256.00

Employees:                                                      1

- thereof permanent staff:                                 1

 

 

BALANCE SHEETS

 

Balance sheet ratios                01.01.2012 - 31.12.2012

Equity ratio [%]:                                     32.87

Liquidity ratio:                                        0.69

Return on total capital [%]:                     3.65

 

Balance sheet ratios                01.01.2011 - 31.12.2011

Equity ratio [%]:                                     52.74

Liquidity ratio:                                        0.05

Return on total capital [%]:                     4.37

 

Balance sheet ratios                01.01.2010 - 31.12.2010

Equity ratio [%]:                                     88.00

Liquidity ratio:                                        10.00

Return on total capital [%]:                     7.94

 

Balance sheet ratios                01.01.2009 - 31.12.2009

Equity ratio [%]:                                     90.47

Liquidity ratio:                                        10.00

Return on total capital [%]:                     6.22

 

 

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:                                     01.01.2012 - 31.12.2012

 

ASSETS                                               EUR             94,258.47

Fixed assets                                         EUR             14,981.50

Intangible assets                                    EUR             14,980.50

Internally generated industrial

property rights and similar rights

and assets                                            EUR              9,159.00

Concessions, licences, rights                 EUR                119.00

Advance payments for intang. assets       EUR              5,702.50

Tangible assets                                     EUR                  1.00

Other tangible assets / fixtures and

fittings                                                   EUR                  1.00

Current assets                                       EUR             79,276.97

Stocks                                                  EUR             29,900.00

Finished goods / work in progress           EUR             29,900.00

Accounts receivable                                           EUR             23,815.51

Trade debtors                                        EUR             23,371.21

Other debtors and assets                       EUR                444.30

Liquid means                                         EUR             25,561.46

 

LIABILITIES                                           EUR             94,258.47

Shareholders' equity                                           EUR             30,981.47

Capital                                                   EUR             25,000.00

Subscribed capital (share capital)            EUR             25,000.00

Balance sheet profit/loss (+/-)                 EUR              5,981.47

Profit / loss brought forward                     EUR              2,543.92

Annual surplus / annual deficit                 EUR              3,437.55

Provisions                                             EUR              3,020.98

Provisions for taxes                                EUR              1,485.98

Other / unspecified provisions                  EUR              1,535.00

Liabilities                                               EUR             60,256.02

Other liabilities                                       EUR             60,256.02

   Trade creditors (for IAS incl. bills

   of exchange)                                       EUR             59,733.80

   Unspecified other liabilities                   EUR                522.22

    thereof liabilities from tax /

    financial authorities                            EUR                522.22

 

Type of balance sheet:               Company balance sheet

 

Financial year:                        01.01.2011 - 31.12.2011

 

ASSETS                                               EUR             52,223.28

Fixed assets                                         EUR             10,134.00

Intangible assets                                    EUR             10,133.00

Concessions, licences, rights                 EUR             10,133.00

Tangible assets                                      EUR                  1.00

Other tangible assets / fixtures and

fittings                                                               EUR                  1.00

Current assets                                       EUR             42,089.28

Stocks                                                  EUR             22,473.00

Finished goods / work in progress            EUR             22,473.00

Accounts receivable                                           EUR                166.80

Other debtors and assets                       EUR                166.80

Liquid means                                         EUR             19,449.48

 

LIABILITIES                                           EUR             52,223.28

Shareholders' equity                                           EUR             27,543.92

Capital                                                  EUR             25,000.00

Subscribed capital (share capital)            EUR             25,000.00

Balance sheet profit/loss (+/-)                 EUR              2,543.92

Profit / loss brought forward        EUR                262.86

Annual surplus / annual deficit                 EUR              2,281.06

Provisions                                             EUR              2,133.23

Provisions for taxes                                EUR                748.23

Other / unspecified provisions                  EUR              1,385.00

Liabilities                                               EUR             22,546.13

Other liabilities                                       EUR             22,546.13

Trade creditors (for IAS incl. bills

of exchange)                                          EUR             22,546.13

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.49

UK Pound

1

Rs.98.71

Euro

1

Rs.84.49

 

 

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%)

 

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.