|
Report Date : |
18.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
SHRENUJ GMBH |
|
|
|
|
Registered Office : |
Vilbeler Landstr. 36, D 60386 Frankfurt |
|
|
|
|
Country : |
Germany |
|
|
|
|
Financials (as on) : |
31.03.2013 |
|
|
|
|
Date of Incorporation : |
1999 |
|
|
|
|
Com. Reg. No.: |
HRB 84922 |
|
|
|
|
Legal Form : |
Private limited company |
|
|
|
|
Line of Business : |
·
Wholesale of
clocks and watches and jewelry ·
Retail sale
of clocks, watches and jewelry |
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
Payment Behaviour : |
Slow |
|
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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Germany |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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, has
contributed to strong growth 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 5.3% in 2013. The new German
government introduced a minimum wage of $11 per hour to take effect in 2015.
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 and
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. 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 |
SHRENUJ GMBH
Company Status: active
Vilbeler Landstr. 36
D 60386 Frankfurt
Telephone:07231/5890200
Telefax: 07231/5890229
Homepage: www.shrenuj.com
E-mail:
info.germany@shrenuj.com
Business relations are permissible.
LEGAL FORM Private
limited company
Date of foundation: 1999
Shareholders'
agreement: 02.09.1999
Registered on: 14.02.2009
Commercial Register: Local court 60313 Frankfurt
under: HRB
84922
Share
capital: EUR 25,000.00
Shareholder:
Shrenuj U.K. Ltd
150 Strand
GB London WC2R 1JA
Legal form: Other legal
form
Share: EUR 25,000.00
Reg. data: 68159 Mannheim,
Manager:
Christine Pfisterer
Gotenstr. 3
D 75177 Pforzheim
having sole power of
representation
born: 03.04.1961
Profession: Businessman
Manager:
Nihar Nitin Parikh
IND Mumbai 400 006
having sole power of
representation
born: 28.06.1967
Nationality:
Indian
Further
functions/participations of Nihar Nitin Parikh (Manager)
Liquidator:
CARAT4YOU GmbH
Vilbeler Landstr. 36
D 60386 Frankfurt
Legal form: Private limited company in
liquidation
Share capital: EUR 25,000.00
Registered
on: 12.02.2009
Reg. data: 60313 Frankfurt, HRB 84908
Liquidator:
Lumé Germany GmbH
Vilbeler Landstr. 36
D 60386 Frankfurt
Legal form: Private
limited company in
liquidation
Share capital: EUR 25,000.00
Registered
on: 10.02.2009
Reg. data: 60313 Frankfurt, HRB 84885
1999 - 25.04.2006 Astral GmbH
Industriestr. 17
D 75443 Ötisheim
Private limited company
26.04.2006 - 15.07.2008 Astral GmbH
Christophallee 23-25
D 75177 Pforzheim
Private limited company
16.07.2008 - 14.02.2009 Shrenuj GmbH
Christophallee 23-25
D
75177 Pforzheim
Private limited company
Main
industrial sector
46480
Wholesale of clocks and watches and jewelry
Secondary
industrial sector
47770
Retail sale of clocks, watches and jewelry
Payment experience: within
periods customary in this trade
Negative information: We have no negative information at hand.
Balance sheet year: 2012/2013
Type of ownership: Tenant
Address Vilbeler
Landstr. 36
D 60386 Frankfurt
Land register documents were not available.
A bank connection is unknown.
Profit: 2011/2012 EUR 50,948.00
2012/2013 EUR 2,761.00
further business figures:
Ac/ts receivable: EUR
1,726,642.00
Liabilities: EUR 3,433,029.00
The number of employees is not known.
Balance sheet ratios 01.04.2012 - 31.03.2013
Equity ratio [%]: -4.12
Liquidity ratio: 0.56
Return on total capital [%]: 0.09
Balance sheet ratios 01.04.2011 - 31.03.2012
Equity ratio [%]: -4.08
Liquidity ratio: 0.52
Return on total capital [%]: 1.54
Balance sheet ratios 01.04.2010 - 31.03.2011
Equity ratio [%]: -7.04
Liquidity ratio: 0.48
Return on total capital [%]: -3.09
Balance sheet ratios 01.04.2009 - 31.03.2010
Equity ratio [%]: -3.91
Liquidity ratio: 0.55
Return on total capital [%]: 7.47
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: 01.04.2012 - 31.03.2013
ASSETS EUR 3,343,401.84
Fixed assets
EUR 142,367.00
Intangible assets
EUR 4.00
Tangible assets
EUR 3,863.00
Financial assets
EUR 138,500.00
Other / unspecified financial assets EUR 138,500.00
Current assets
EUR 3,065,486.93
Stocks
EUR 1,171,412.85
Accounts receivable
EUR 1,852,394.97
Liquid means
EUR 41,679.11
Remaining other assets
EUR 135,547.91
Accruals (assets)
EUR 3,377.79
Deficit not covered by shareholders'
equity
EUR 132,170.12
LIABILITIES EUR 3,343,401.84
Shareholders' equity
EUR 0.00
Capital
EUR 25,000.00
Subscribed capital (share capital)
EUR 25,000.00
Reserves
EUR 747,661.51
Capital reserves
EUR 747,661.51
Balance sheet profit/loss (+/-)
EUR -904,831.63
Profit / loss brought forward
EUR -907,592.16
Annual surplus / annual deficit
EUR 2,760.53
Other shareholders' equity (+/-)
EUR 132,170.12
Deficit not covered by shareholders'
equity
EUR 132,170.12
Provisions
EUR 8,730.00
Liabilities
EUR 3,334,671.84
Type of
balance sheet: Company balance sheet
Financial
year: 01.04.2011 - 31.03.2012
ASSETS EUR 3,441,078.66
Fixed assets
EUR 146,170.00
Intangible assets
EUR 202.00
Other / unspecified intangible assetsEUR 202.00
Tangible assets
EUR 7,468.00
Other / unspecified tangible assets
EUR 7,468.00
Financial assets EUR 138,500.00
Other / unspecified financial assets EUR 138,500.00
Current assets
EUR 3,156,445.39
Stocks
EUR 1,341,966.38
Other / unspecified stocks
EUR 1,341,966.38
Accounts receivable
EUR 1,726,642.38
Other debtors and assets
EUR 1,726,642.38
Liquid means
EUR 87,836.63
Remaining other assets
EUR 138,463.27
Accruals (assets)
EUR 3,532.62
Deficit not covered by shareholders'
equity
EUR 134,930.65
LIABILITIES EUR 3,441,078.66
Shareholders' equity
EUR 0.00
Capital
EUR 25,000.00
Subscribed capital (share capital)
EUR 25,000.00
Reserves
EUR 747,661.51
Capital reserves
EUR 747,661.51
Balance sheet profit/loss (+/-)
EUR -907,592.16
Profit / loss brought forward
EUR -958,539.85
Annual surplus / annual deficit
EUR 50,947.69
Other shareholders' equity (+/-)
EUR 134,930.65
Deficit not covered by shareholders'
equity
EUR 134,930.65
Provisions EUR 8,050.00
Other / unspecified provisions
EUR 8,050.00
Liabilities
EUR 3,433,028.66
Other liabilities
EUR 3,433,028.66
Unspecified other liabilities EUR 3,433,028.66
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.
-
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.60.38 |
|
|
1 |
Rs.101.63 |
|
Euro |
1 |
Rs.83.57 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NNA |
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.