MIRA INFORM REPORT

Report Date :

12.12.2014

IDENTIFICATION DETAILS

Name :	FAUDI AVIATION GMBH
Registered Office :	Scharnhorststr. 7b, D 35260 Stadtallendorf
Country :	Germany
Financials (as on) :	31.12.2012
Year of Establishments :	1999
Com. Reg. No.:	HRB 5547
Legal Form :	Private Limited Company
Line of Business :	· Subject is specialized in filtration and cleaning of commercial and military Aviation Fuels make an important contribution to the Security of the Air Traffic. · Engaged in the filtration and separation of Industrial Liquids, Gases and Aviation Fuels Subject product ranges includes: · Vessels · Elements · Accessories · Training & Seminars · Sensor Technologies
No of Employees :	53

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 – September 30, 2014

Country Name	Previous Rating (30.06.2014)	Current Rating (30.09.2014)
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, 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

FAUDI Aviation GmbH

Company address

Scharnhorststr. 7b

D 35260 Stadtallendorf

Telephone: 06428/4465275

Telefax: 06428/4465231

Homepage: www.faudi-aviation.de

E-mail: contact@faudi-aviation.com

VAT no

DE265479636

Company Status

active

CONCLUSION

Business relations are permissible.

Synthesis

LEGAL FORM Private limited company

Date of foundation: 1999

Begin of business

activities: 1999

Registered on: 29.06.2009

Commercial Register: Local court 35037 Marburg

under: HRB 5547

Share capital: EUR 500,000.00

We have at present no current list of shareholders / limited partners respectively at our disposal.

Shareholder

Marcus Wildschütz

Gohrerberg 8l

D 41469 Neuss

born: 27.10.1964

Share: EUR 300,000.00

Shareholder:

Wildschütz GmbH

Gohrerberg 8l

D 41469 Neuss

Legal form: Private limited company

Share capital: EUR 25,000.00

Share: EUR 100,000.00

Registered on: 02.12.2004

Reg. data: 41460 Neuss, HRB 13190

Manager

Konrad Willi Bisser

D 78532 Tuttlingen

having sole power of representation

born: 04.04.1953

Manager:

Marcus Wildschütz

Gohrerberg 8l

D 41469 Neuss

having sole power of representation

born: 27.10.1964

Manager:

Matthias Aden

D 64668 Rimbach

authorized to jointly represent the company

born: 07.05.1960

Further functions/participations of Konrad Willi Bisser (Manager)

Manager:

Wieser Beteiligungsgesellschaft mbH

Bahnhofstr. 14

D 78570 Mühlheim

Legal form: Private limited company

dissolved by official decree

Share capital: EUR 50,000.00

Registered

on: 01.02.2001

Reg. data: 70190 Stuttgart, HRB 451132

Proxy:

Forscher Magnetsysteme GmbH

Charlottenstr. 15

D 78549 Spaichingen

Legal form: Private limited company

Share capital: EUR 25,564.59

Registered

on: 08.07.1986

Reg. data: 70190 Stuttgart, HRB 460303

Further functions/participations of Marcus Wildschütz (Manager)

Shareholder:

Wildschütz GmbH

Gohrerberg 8l

D 41469 Neuss

Legal form: Private limited company

Share capital: EUR 25,000.00

Share: EUR 24,500.00

Registered

on: 02.12.2004

Reg. data: 41460 Neuss, HRB 13190

Manager:

Wildschütz GmbH

Gohrerberg 8l

D 41469 Neuss

Legal form: Private limited company

Share capital: EUR 25,000.00

Registered

on: 02.12.2004

Reg. data: 41460 Neuss, HRB 13190

Manager:

FAUDI Aviation Immobilien GmbH

Scharnhorststr. 7b

D 35260 Stadtallendorf

Legal form: Private limited company

Share capital: EUR 500,000.00

Registered

on: 13.10.2010

Reg. data: 35037 Marburg, HRB 5783

Manager:

Weinsberger Behälterbau GmbH

Abtsäckerstr. 19

D 74189 Weinsberg

Legal form: Private limited company

insolvent

Share capital: EUR 25,000.00

Registered

on: 13.01.2012

Reg. data: 70190 Stuttgart, HRB 739963

COMPANY HISTORY

1999 - 14.07.2005 Faudi Aviation -Fuel Filtration - GmbH

Scharnhorststr. 7

D 35260 Stadtallendorf

Private limited company

14.07.2005 - 29.06.2009 Faudi Aviation GmbH & Co. KG

Scharnhorststr. 7b

D 35260 Stadtallendorf

Ltd partnership with priv. ltd. company

as general partner

BUSINESS ACTIVITIES

· Subject is specialized in filtration and cleaning of commercial and military Aviation Fuels make an important contribution to the Security of the Air Traffic.

· Engaged in the filtration and separation of Industrial Liquids, Gases and Aviation Fuels

Subject product ranges includes:

· Vessels

· Elements

· Accessories

· Training & Seminars

· Sensor Technologies

PARTICIPATIONS

Shareholder:

Weinsberger Behälterbau GmbH

Abtsäckerstr. 19

D 74189 Weinsberg

Legal form: Private limited company

Company Status: insolvent

since: 17.05.2013

Share capital: EUR 25,000.00

Share: EUR 25,000.00

Reg. data: 13.01.2012

Local court 70190 Stuttgart

HRB 739963

FINANCIAL INFORMATION

Payment experience: Slow but Correct

Negative information: We have no negative information at hand.

Balance sheet year: 2012

REAL ESTATE

Type of ownership: Tenant

Address Scharnhorststr. 7b

D 35260 Stadtallendorf

Real Estate of: Wildschütz GmbH

Type of ownership: Tenant

Address Gohrerberg 8l

D 41469 Neuss

Land register documents were not available.

BANKERS

COMMERZBANK, 35002 MARBURG

Sort. code: 53340024

BIC: COBADEFFXXX

FINANCIAL FIGURES

Turnover: 2012 EUR 10,000,000.00

2013 EUR 11,000,000.00

Expected turnover: EUR 12,000,000.00

Profit: 2012 EUR -228,250.00

further business figures:

Equipment: *EUR 450,500.00

Ac/ts receivable: EUR 1,467,676.00

Liabilities: EUR 3,321,966.00

Employees: 53

The business figures marked with an asterisk are estimates based on average values in the line of business.

BALANCE SHEETS

Balance sheet ratios 01.01.2012 - 31.12.2012

Equity ratio [%]: 17.01

Liquidity ratio: 0.52

Return on total capital [%]: -4.97

Balance sheet ratios 01.01.2011 - 31.12.2011

Equity ratio [%]: 6.48

Liquidity ratio: 0.34

Return on total capital [%]: -1.72

Balance sheet ratios 01.01.2010 - 31.12.2010

Equity ratio [%]: 8.24

Liquidity ratio: 0.26

Return on total capital [%]: 1.05

Balance sheet ratios 01.01.2009 - 31.12.2009

Equity ratio [%]: 15.26

Liquidity ratio: 0.71

Return on total capital [%]: 5.85

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 4,635,061.57

Fixed assets EUR 943,287.00

Intangible assets EUR 92,720.00

Tangible assets EUR 278,565.00

Financial assets EUR 572,002.00

Loans to shareholders EUR 572,000.00

Other / unspecified financial assets EUR 2.00

Current assets EUR 3,669,654.57

Stocks EUR 1,955,074.58

Accounts receivable EUR 1,467,676.30

Liquid means EUR 246,903.69

Remaining other assets EUR 22,120.00

Accruals (assets) EUR 22,120.00

LIABILITIES EUR 4,635,061.57

Shareholders' equity EUR 585,573.22

Capital EUR 400,000.00

Subscribed capital (share capital) EUR 400,000.00

Balance sheet profit/loss (+/-) EUR 185,573.22

Profit / loss brought forward EUR 413,822.99

Annual surplus / annual deficit EUR -228,249.77

Provisions EUR 727,522.00

Liabilities EUR 3,321,966.35

Type of balance

sheet: Company balance sheet

Financial year: 01.01.2011 - 31.12.2011

ASSETS EUR 5,094,623.58

Fixed assets EUR 1,041,242.00

Intangible assets EUR 46,156.00

Other / unspecified intangible assetsEUR 46,156.00

Tangible assets EUR 270,086.00

Other / unspecified tangible assets EUR 270,086.00

Financial assets EUR 725,000.00

Other / unspecified financial assets EUR 725,000.00

Current assets EUR 4,011,907.19

Stocks EUR 1,856,274.16

Accounts receivable EUR 1,767,512.77

Other debtors and assets EUR 1,767,512.77

Liquid means EUR 388,120.26

Remaining other assets EUR 41,474.39

Accruals (assets) EUR 41,474.39

LIABILITIES EUR 5,094,623.58

Shareholders' equity EUR 636,950.83

Capital EUR 400,000.00

Subscribed capital (share capital) EUR 400,000.00

Balance sheet profit/loss (+/-) EUR 236,950.83

Profit / loss brought forward EUR 312,356.41

Annual surplus / annual deficit EUR -75,405.58

Provisions EUR 536,066.00

Liabilities EUR 3,921,606.75

Other liabilities EUR 3,921,606.75

Unspecified other liabilities EUR 3,921,606.75

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.62.21
UK Pound	1	Rs.97.80
Euro	1	Rs.77.48

INFORMATION DETAILS

Analysis Done by :	DIV
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.