MIRA INFORM REPORT

 

 

Report Date :

25.04.2014

 

IDENTIFICATION DETAILS

 

Name :

ERWEKA GESELLSCHAFT MIT BESCHRÄNKTER HAFTUNG

 

 

Registered Office :

Ottostr. 20-22, D 63150 Heusenstamm, Post Box  12 53, D 63130 Heusenstamm

 

 

Country :

Germany

 

 

Financials (as on) :

31.12.2012

 

 

Date of Incorporation :

02.10.1951

 

 

Com. Reg. No.:

HRB 2382

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

·         Subject design, manufacture, install and service the whole range of physical and dissolution test equipment for pharmaceutical research and quality control.

·         Manufacturer of testing machines

·         Manufacturer of other special-purpose machinery

 

 

No of Employees :

69

 

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 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

Moderate Low Risk

 

B1

Moderate Risk

 

B2

Moderate 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

 

 

Company name & address

 

ERWEKA Gesellschaft mit beschränkter Haftung

 

Ottostr. 20-22

D 63150 Heusenstamm

Post Box: 12 53, D 63130 Heusenstamm

Telephone:        06104/69030

Telefax:            06104/690340

Homepage:       www.erweka.com

E-mail:              marketing@erweka.com

 

 

Company Status

 

active

 

VAT no

 

DE113545977

 

 

CONCLUSION

 

Business relations are permissible.

 

 

synthesis

 

LEGAL FORM               Private limited company

Date of foundation:       02.10.1951

Shareholders'

agreement:                    02.10.1951

Registered on:              21.10.1951

Commercial Register:    Local court 63065 Offenbach

under:                                       HRB 2382

Share capital:                 EUR            500,000.00

 

Shareholder

 

Werner-Georg Müller

D 61462 Königstein

born: 06.07.1943

Share:             EUR            255,000.00

 

 Shareholder:

                      Claudia Müller

                      D 61462 Königstein

                      born: 08.08.1966

                      Share:             EUR            245,000.00

 

Manager

 

Werner-Georg Müller

D 61462 Königstein

having sole power of representation

born: 06.07.1943

Profession: Businessman

Marital status: married

 

Manager:

                      Manfred Koller

                      D 63179 Obertshausen

                      having sole power of representation

                      born: 14.04.1968

 

Proxy

 

Claudia Müller

D 61462 Königstein

having sole power of representation

born: 08.08.1966

Marital status: unknown

 

Further functions/participations of Werner-Georg Müller (Manager)

 

 Shareholder:

                      Physiolution GmbH

                      Kornblumenweg 14

                      D 17498 Neuenkirchen

                      Legal form: Private limited company

                      Share capital:     EUR             50,000.00

                      Share:             EUR             12,500.00

                      Registered

                      on:         08.12.2009

                      Reg. data:  18439 Stralsund, HRB 7826

 

 

COMPANY HISTORY

 

 02.10.1951 - 31.12.1984  ERWEKA Gesellschaft mit beschränkter

                          Haftung

                          D 60311 Frankfurt

                          Private limited company

 

 01.01.1985 - 29.10.1990  ERWEKA Apparatebau Gesellschaft mit

                          beschränkter Haftung

                          Ottostr. 20-22

                          D 63150 Heusenstamm

                          Private limited company

 

 

BUSINESS ACTIVITIES

 

·         Subject design, manufacture, install and service the whole range of physical and dissolution test equipment for pharmaceutical research and quality control.

·         Manufacturer of testing machines

·         Manufacturer of other special-purpose machinery n.e.c.

 

 

FINANCIAL INFORMATION

 

Payment experience:     within agreed terms

Negative information:    We have no negative information at hand.

Balance sheet year:       2012

 

 

REAL ESTATE

 

Type of ownership:        proprietor

Share:                           100.00 %

Address                        Ottostr. 20-22

                                    D 63150 Heusenstamm

 

Land register documents were not available.

 

BANKERS

 

VEREINIGTE VOLKSBANK MAINGAU, 63150 HEUSENSTAMM

Sort. code: 50561315

BIC: GENODE51OBH

 

COMMERZBANK, 63003 OFFENBACH AM MAIN

Sort. code: 50540028

BIC: COBADEFF505

 

POSTBANK, 60288 FRANKFURT AM MAIN

Sort. code: 50010060

BIC: PBNKDEFFXXX

 

 

FINANCIAL FIGURES

 

 Gross profit or loss:2012               EUR         10,709,272.00

 Profit:              2012               EUR            390,940.00

 Equipment:                              EUR            297,329.00

 Ac/ts receivable:                       EUR          5,816,216.00

 Liabilities:                            EUR          4,515,181.00

 Employees:                                                     69

 

 

BALANCE SHEETS

 

 Balance sheet ratios 01.01.2012 - 31.12.2012

 Equity ratio [%]:                 30.23

 Liquidity ratio:                   1.39

 Return on total capital [%]:       4.88

 

 Balance sheet ratios 01.01.2011 - 31.12.2011

 Equity ratio [%]:                 28.15

 Liquidity ratio:                   1.20

 Return on total capital [%]:       3.79

 

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          9,952,597.38

  Fixed assets                           EUR            970,788.38

   Intangible assets                     EUR            576,422.00

    Concessions, licences, rights        EUR            576,422.00

   Tangible assets                       EUR            394,066.38

    Land / similar rights                EUR             93,794.38

    Plant / machinery                    EUR              2,943.00

    Other tangible assets / fixtures and

    fittings                             EUR            297,329.00

   Financial assets                      EUR                300.00

    Shares in participations /

    subsidiaries and the like            EUR                300.00

     Shares in cooperatives              EUR                300.00

  Current assets                         EUR          8,924,744.15

   Stocks                                EUR          2,705,954.66

    Raw materials, consumables and

    supplies                             EUR          2,142,923.58

    Finished goods / work in progress    EUR            563,031.08

   Accounts receivable                   EUR          5,816,216.06

    Amounts due from shareholders        EUR            100,000.00

    Trade debtors                        EUR          2,422,281.23

    Amounts due from related companies   EUR          1,784,812.14

    Other debtors and assets             EUR          1,509,122.69

   Liquid means                          EUR            402,573.43

  Remaining other assets                 EUR             57,064.85

   Accruals (assets)                     EUR             57,064.85

 

 LIABILITIES                             EUR          9,952,597.38

  Shareholders' equity                   EUR          3,078,310.22

   Capital                               EUR            500,000.00

    Subscribed capital (share capital)   EUR            500,000.00

   Reserves                              EUR            500,000.00

    Capital reserves                     EUR            500,000.00

   Balance sheet profit/loss (+/-)       EUR          2,078,310.22

    Profit / loss brought forward        EUR          1,726,369.87

    Annual surplus / annual deficit      EUR            351,940.35

  Items between shareholders' equity and

  debt capital                           EUR          1,850,000.00

   Mezzanine financing                   EUR          1,850,000.00

    Contributions of silent partners     EUR          1,850,000.00

  Provisions                             EUR            509,106.08

   Provisions for taxes                  EUR            170,640.55

   Other / unspecified provisions        EUR            338,465.53

  Liabilities                            EUR          4,515,181.08

   Financial debts                       EUR          3,288,080.98

    Liabilities due to banks             EUR          3,288,080.98

   Other liabilities                     EUR          1,227,100.10

    Trade creditors (for IAS incl. bills

    of exchange)                         EUR            388,439.80

    Liabilities from received advance

    payments                             EUR            439,446.89

    Liabililties due to related companiesEUR              1,298.98

    Unspecified other liabilities        EUR            397,914.43

 

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

 Code (HGB)

  Sales                                  EUR         16,046,009.90

  Inventory change + own costs (+/-)     EUR            -54,501.74

   Inventory change (+/-)                EUR            -54,501.74

  Other operating income                 EUR            236,252.59

  Cost of materials                      EUR          5,518,488.65

   Raw materials and supplies, purchased

   goods                                 EUR          5,141,677.71

   Purchased services                    EUR            376,810.94

  Gross result (+/-)                     EUR         10,709,272.10

  Staff expenses                         EUR          4,394,635.48

   Wages and salaries                    EUR          3,742,736.92

   Social security contributions and

   expenses for pension plans and

   benefits                              EUR            651,898.56

  Total depreciation                     EUR            820,916.89

   Depreciation on tangible / intangible

   asssets (incl. start-up and exp. of

   bus.                                  EUR            820,916.89

  Other operating expenses               EUR          4,455,555.33

  Operating result from continuing

  operations                             EUR          1,038,164.40

  Interest result (+/-)                  EUR           -307,750.48

   Interest and similar income           EUR             29,718.58

   Interest and similar expenses         EUR            337,469.06

  Financial result (+/-)                 EUR           -307,750.48

  Result from ordinary operations (+/-)  EUR            730,413.92

  Extraordinary expenses                 EUR             89,418.86

  Extraordinary result (+/-)             EUR            -89,418.86

  Expenses for transfer of profits to a

  parent company                         EUR             39,000.00

  Income tax / refund of income tax (+/-)EUR           -227,523.73

  Other taxes / refund of taxes          EUR            -22,530.98

  Tax (+/-)                              EUR           -250,054.71

  Annual surplus / annual deficit        EUR            351,940.35

 

 Type of balance

 sheet:               Company balance sheet

 

 Financial year:      01.01.2011 - 31.12.2011

 

 ASSETS                                  EUR         10,360,391.35

  Fixed assets                           EUR            915,170.38

   Intangible assets                     EUR            491,999.00

    Concessions, licences, rights        EUR            491,999.00

   Tangible assets                       EUR            422,871.38

    Land / similar rights                EUR            103,391.38

    Plant / machinery                    EUR             32,538.00

    Other tangible assets / fixtures and

    fittings                             EUR            286,942.00

   Financial assets                      EUR                300.00

    Shares in participations /

    subsidiaries and the like            EUR                300.00

     Shares in cooperatives              EUR                300.00

  Current assets                         EUR          9,415,592.49

   Stocks                                EUR          2,843,960.68

    Raw materials, consumables and

    supplies                             EUR          2,226,427.86

    Finished goods / work in progress    EUR            617,532.82

   Accounts receivable                   EUR          6,544,418.95

    Trade debtors                        EUR          2,819,334.18

    Other debtors and assets             EUR          3,725,084.77

   Liquid means                          EUR             27,212.86

  Remaining other assets                 EUR             29,628.48

   Accruals (assets)                     EUR             29,628.48

 

 LIABILITIES                             EUR         10,360,391.35

  Shareholders' equity                   EUR          3,028,501.20

   Capital                               EUR            500,000.00

    Subscribed capital (share capital)   EUR            500,000.00

   Reserves                              EUR            500,000.00

    Capital reserves                     EUR            500,000.00

   Balance sheet profit/loss (+/-)       EUR          2,028,501.20

    Profit / loss brought forward        EUR          1,771,596.33

    Annual surplus / annual deficit      EUR            256,904.87

  Items between shareholders' equity and

  debt capital                           EUR          1,550,515.00

   Mezzanine financing                   EUR          1,550,515.00

    Contributions of silent partners     EUR          1,550,515.00

  Provisions                             EUR            410,086.24

   Provisions for taxes                  EUR            120,000.00

   Other / unspecified provisions        EUR            290,086.24

  Liabilities                            EUR          5,371,288.91

   Financial debts                       EUR          2,613,074.27

    Liabilities due to banks             EUR          2,613,074.27

   Other liabilities                     EUR          2,758,214.64

    Trade creditors (for IAS incl. bills

    of exchange)                         EUR            741,655.65

    Liabilities from received advance

    payments                             EUR            351,292.03

    Unspecified other liabilities        EUR          1,665,266.96

 

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

 Code (HGB)

  Sales                                  EUR         13,538,063.02

  Inventory change + own costs (+/-)     EUR           -411,475.71

   Inventory change (+/-)                EUR           -411,475.71

  Other operating income                 EUR          1,249,999.70

  Cost of materials                      EUR          4,095,701.03

   Raw materials and supplies, purchased

   goods                                 EUR          3,734,646.97

   Purchased services                    EUR            361,054.06

  Gross result (+/-)                     EUR         10,280,885.98

  Staff expenses                         EUR          4,166,909.71

   Wages and salaries                    EUR          3,525,215.10

   Social security contributions and

   expenses for pension plans and

   benefits                              EUR            641,694.61

  Total depreciation                     EUR            564,763.48

   Depreciation on tangible / intangible

   asssets (incl. start-up and exp. of

   bus.                                  EUR            564,763.48

  Other operating expenses               EUR          4,395,697.21

  Operating result from continuing

  operations                             EUR          1,153,515.58

  Interest result (+/-)                  EUR           -253,173.41

   Interest and similar income           EUR                557.84

   Interest and similar expenses         EUR            253,731.25

  Financial result (+/-)                 EUR           -253,173.41

  Result from ordinary operations (+/-)  EUR            900,342.17

  Expenses for transfer of profits to a

  parent company                         EUR            129,958.33

  Income tax / refund of income tax (+/-)EUR           -491,250.82

  Other taxes / refund of taxes          EUR            -22,228.15

  Tax (+/-)                              EUR           -513,478.97

  Annual surplus / annual deficit        EUR            256,904.87

 

 Inconsistent balance sheets:

 Financial year                              published on

 01.01.2010 - 31.12.2010                     25.01.2012

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.07

UK Pound

1

Rs.102.77

Euro

1

Rs.84.49

 

INFORMATION DETAILS

 

Analysis Done by :

SUB

 

 

Report Prepared by :

MNL

 

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.