MIRA INFORM REPORT

 

 

Report Date :

31.10.2013

 

IDENTIFICATION DETAILS

 

Name :

DELATRADE HANDELSGESELLSCHAFT MBH

 

 

Registered Office :

Esplanade 6 D 20354 Hamburg

 

 

Country :

Germany

 

 

Financials (as on) :

2012

 

 

Date of Incorporation :

28.05.1991

 

 

Legal Form :

Private limited company

 

 

Line of Business :

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

 

 

No. of Employees :

01

 

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

 

DELATRADE HANDELSGESELLSCHAFT MBH

 

 Company Status:          active

Esplanade 6

D 20354 Hamburg

Telephone:040/345194

Telefax:  040/342359

Homepage: www.delatrade.de

E-mail:   info@delatrade.de

 

 VAT no.:                      DE118541161

 Tax ID number:              25/873/00144

 

 

 CONCLUSION

 

 Business relations are permissible.

 

 

Company summary

 

 LEGAL FORM              Private limited company

 Date of foundation:        28.05.1991

 Shareholders'

 agreement:                   28.05.1991

 Registered on:              03.07.1991

 Commercial Register:    Local court 20355 Hamburg

 under:                          HRB 47628

 

 Share capital:                         EUR            127,822.97

 

 

Shareholder:

                      Peter Schirrmann

                      Schemmannstr. 12b

                      D 22359 Hamburg

                      born: 21.08.1940

                      Share:             EUR            127,822.97

 

 Manager:

                      Peter Schirrmann

                      Schemmannstr. 12b

                      D 22359 Hamburg

                      having sole power of representation

                      born: 21.08.1940

                      Profession: Businessman

                      Marital status: married

 

 

Further functions/participations of Peter Schirrmann (Manager)

 Shareholder:

 

                      VALENOX Rohstoffe GmbH

                      Hanauer Landstr. 146

                      D 60314 Frankfurt

                      Legal form:          Private limited company

                                                dissolved by official decree

                      Share capital:     EUR             25,000.00

                      Share:                 EUR             12,500.00

                      Registered on:         01.10.2004

                      Reg. data:           60313 Frankfurt, HRB 73530

 

 

 COMPANY HISTORY

 

 1991 - 1991                  DEGUTRADE Handelsgesellschaft mbH

Esplanade 6

D 20354 Hamburg

Private limited company

 

 

 

 BUSINESS ACTIVITIES

 

 Sectors

 46722   Wholesale of non-ferrous ores, metals and metal

            semi-finished goods

46750   Wholesale of chemical products

 

 

 Payment experience:  cash discount/within agreed terms

 

 Negative information:We have no negative information at hand.

 

 

 BALANCE SHEET YEAR:  2012

 

 

 REAL ESTATE

 

 Type of ownership:        Tenant

 Address                       Esplanade 6

                                    D 20354 Hamburg

 

 Land register documents were not available.

 

 

 BANKERS

 

 COMMERZBANK, HAMBURG

 Sort. code: 20040000, Account no.: 402593800, BIC: COBADEHHXXX

 UNICREDIT BANK - HYPOVEREINSBANK, HAMBURG

 Sort. code: 20030000, Account no.: 150284, BIC: HYVEDEMM300

 

 

 FINANCIAL FIGURES

 

 Turnover:                      2011               EUR         17,600,705.00

                                    2012               EUR         25,308,640.00

 Profit:                           2011               EUR          2,616,965.00

                                    2012               EUR            880,745.00

 further business figures:

 Equipment:                                           EUR             15,775.00

 Ac/ts receivable:                                               EUR          1,686,637.00

 Liabilities:                                             EUR            713,486.00

 Total numbers of vehicles:                                               1

 - Passenger cars:                                                                      1

 Employees:                                                                   4

 - thereof permanent staff:                                                1

 - Part-time employees:                                                   3

 

 

 BALANCE SHEETS

 

 Balance sheet ratios               01.01.2012 - 31.12.2012

 Equity ratio [%]:                                    63.74

 Liquidity ratio:                                       10.00

 Return on total capital [%]:                    7.77

 

 Balance sheet ratios               01.01.2011 - 31.12.2011

 Equity ratio [%]:                                     63.68

 Liquidity ratio:                                        10.00

 Return on total capital [%]:                      23.94

 

 

 Balance sheet ratios               01.01.2010 - 31.12.2010

 Equity ratio [%]:                                    62.81

 Liquidity ratio:                                       10.00

 Return on total capital [%]:                    46.75

 

 

 Balance sheet ratios               01.01.2009 - 31.12.2009

 Equity ratio [%]:                                    41.03

 Liquidity ratio:                                        2.37

 Return on total capital [%]:                    4.22

 

 

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         11,375,158.57

Fixed assets                                         EUR              9,297.00

Tangible assets                                     EUR              9,297.00

Other tangible assets / fixtures and

fittings                                                                EUR              9,297.00

Current assets                                       EUR         11,330,159.40

Stocks                                                  EUR            917,918.37

Finished goods / work in progress           EUR            776,719.36

Advance payments made                        EUR            141,199.01

Accounts receivable                               EUR          2,241,886.15

Trade debtors                                        EUR          1,993,868.77

Other debtors and assets                       EUR            248,017.38

Liquid means                                         EUR          8,170,354.88

Remaining other assets                          EUR             35,702.17

Accruals (assets)                                   EUR              2,836.17

Deferred taxes (assets)                          EUR             32,866.00

 

LIABILITIES                                           EUR         11,375,158.57

Shareholders' equity                                           EUR          7,124,088.20

Capital                                                  EUR            127,822.97

Subscribed capital (share capital)            EUR            127,822.97

Balance sheet profit/loss (+/-)                 EUR          6,996,265.23

Profit / loss brought forward        EUR          6,115,519.84

Annual surplus / annual deficit                  EUR            880,745.39

Provisions                                              EUR            515,841.82

Pension provisions and comparable

provisions                                              EUR             50,081.00

Provisions for taxes                                EUR             40,185.00

Other / unspecified provisions                  EUR            425,575.82

Liabilities                                               EUR          3,735,228.55

Other liabilities                                       EUR          3,735,228.55

Trade creditors (for IAS incl. bills

of exchange)                                          EUR          3,229,899.48

Unspecified other liabilities                      EUR            505,329.07

thereof liabilities from tax /

financial authorities                                EUR            366,666.87

 

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

Code (HGB)

 

Sales                                                     EUR         25,308,639.72

Other operating income                          EUR            261,418.05

Cost of materials                                    EUR         20,042,968.06

Raw materials and supplies, purchased

goods                                                   EUR         20,042,968.06

Gross result (+/-)                                   EUR          5,527,089.71

Staff expenses                                       EUR            396,671.27

Wages and salaries                                           EUR            364,642.49

Social security contributions and

expenses for pension plans and

benefits                                                 EUR             32,028.78

Total depreciation                                   EUR              8,035.00

Depreciation on tangible / intangible

asssets (incl. start-up and exp. of

bus.                                                      EUR              8,035.00

Other operating expenses                       EUR          3,834,601.09

Operating result from continuing

operations                                              EUR          1,287,782.35

Interest result (+/-)                                 EUR             39,577.04

Interest and similar income                     EUR             39,684.65

Interest and similar expenses                   EUR                107.61

Financial result (+/-)                               EUR             39,577.04

Result from ordinary operations (+/-)        EUR          1,327,359.39

Income tax / refund of income tax (+/-)     EUR           -446,070.00

Other taxes / refund of taxes                   EUR               -544.00

Tax (+/-)                                                EUR           -446,614.00

Annual surplus / annual deficit                 EUR            880,745.39

 

 Type of balance  sheet:                      Company balance sheet

 

 Financial year:                                   01.01.2011 - 31.12.2011

 

ASSETS                                               EUR         11,402,841.38

Fixed assets                                         EUR             15,775.00

Tangible assets                                     EUR             15,775.00

Other tangible assets / fixtures and

fittings                                                   EUR             15,775.00

Current assets                                       EUR         11,337,346.44

Stocks                                                  EUR            130,769.10

Finished goods / work in progress           EUR            130,769.10

Accounts receivable                                           EUR          1,686,636.96

Trade debtors                                         EUR          1,060,759.75

Other debtors and assets                       EUR            625,877.21

Liquid means                                          EUR          9,519,940.38

Remaining other assets                          EUR             49,719.94

Accruals (assets)                                   EUR             16,281.94

Deferred taxes (assets)                          EUR             33,438.00

 

LIABILITIES                                                     EUR         11,402,841.38

Shareholders' equity                               EUR          7,443,342.81

Capital                                                  EUR            127,822.97

Subscribed capital (share capital)            EUR            127,822.97

Balance sheet profit/loss (+/-)                 EUR          7,315,519.84

Profit / loss brought forward                      EUR          4,698,555.03

Annual surplus / annual deficit                 EUR          2,616,964.81

Provisions                                             EUR          3,238,318.71

Pension provisions and comparable

provisions                                              EUR             53,961.00

Provisions for taxes                                EUR          2,816,042.20

Other / unspecified provisions                  EUR            368,315.51

Liabilities                                                EUR            713,486.19

Other liabilities                                        EUR            713,486.19

Trade creditors (for IAS incl. bills

of exchange)                                          EUR            686,368.12

Unspecified other liabilities                      EUR             27,118.07

thereof liabilities from tax /

financial authorities                                EUR             27,118.07

Other liabilities                                       EUR              7,693.67

Deferrals (liabilities)                                EUR              7,693.67

 

 

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

Code (HGB)

Sales                                                    EUR         17,600,704.65

Other operating income                          EUR          2,922,286.00

Cost of materials                                    EUR         14,193,441.91

Raw materials and supplies, purchased

goods                                                   EUR         14,193,441.91

Gross result (+/-)                                   EUR          6,329,548.74

Staff expenses                                       EUR            473,526.61

Wages and salaries                                           EUR            445,137.89

Social security contributions and

expenses for pension plans and

benefits                                                 EUR             28,388.72

Total depreciation                                   EUR             97,773.02

Depreciation on tangible / intangible

asssets (incl. start-up and exp. of

bus.                                                      EUR              9,711.39

Depreciation on current assets (+/-)         EUR             88,061.63

Other operating expenses                       EUR          1,991,432.87

Operating result from continuing

operations                                              EUR          3,766,816.24

Interest result (+/-)                                 EUR            105,186.77

Interest and similar income                     EUR            120,951.12

Interest and similar expenses                  EUR             15,764.35

Financial result (+/-)                                EUR            105,186.77

Result from ordinary operations (+/-)        EUR          3,872,003.01

Income tax / refund of income tax (+/-)     EUR         -1,254,494.20

Other taxes / refund of taxes                   EUR               -544.00

Tax (+/-)                                                EUR         -1,255,038.20

Annual surplus / annual deficit                 EUR          2,616,964.81

 

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.