MIRA INFORM REPORT

 

 

Report Date :

13.12.2014

 

IDENTIFICATION DETAILS

 

Name :

AE-ROTOR HOLDING B.V.

 

 

Registered Office :

Jan Tinbergenstraat 290 7559ST Hengelo

 

 

Country :

Netherlands

 

 

Financials (as on) :

31.03.2012

 

 

Date of Incorporation :

01.03.2001

 

 

Com. Reg. No.:

08097459

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Financial holding

[We tried to confirm / obtain the detailed activity but the same is not available from any sources]

 

 

No of Employees :

Not Available

 

 

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 :

Unknown

 

 

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)

Netherlands

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

NEDERLAND - ECONOMIC OVERVIEW

 

Netherlands is the sixth-largest economy in the euro-zone and is noted for its stable industrial relations, moderate unemployment and inflation, sizable trade surplus, and important role as a European transportation hub. Industrial activity is predominantly in food processing, chemicals, petroleum refining, and electrical machinery. A highly mechanized agricultural sector employs only 2% of the labor force but provides large surpluses for the food-processing industry and for exports. Netherlands, along with 11 of its EU partners, began circulating the euro currency on 1 January 2002. The Dutch financial sector suffered as a result of the global financial crisis, due in part to the high exposure of some Dutch banks to US mortgage-backed securities. In 2008, the government nationalized two banks and injected billions of dollars of capital into other financial institutions, to prevent further deterioration of a crucial sector. After 26 years of uninterrupted economic growth, the Dutch economy - highly dependent on an international financial sector and international trade - contracted by 3.5% in 2009. To recover, the government sought to boost the domestic economy by accelerating infrastructure programs, offering corporate tax breaks for employers to retain workers, and expanding export credit facilities. The stimulus programs and bank bailouts, however, resulted in a government budget deficit of 5.3% of GDP in 2010 that contrasted sharply with a surplus of 0.7% in 2008. The government of Prime Minister Mark RUTTE began implementing austerity measures in early 2011, mainly reducting expenditures, which resulted in an improved budget deficit in 2011. However, in 2012 tax revenues dropped, GDP contracted, and the budget deficit deteriorated. In 2013, the government budget deficit decreased to 3.3% of GDP due to increased government revenue from higher taxes. However, spending on social benefits also increased, due to a rise in unemployment benefits and payments for pensions. The high unemployment rate and tax increases have contributed to continued decreases in household disposable income, causing the Dutch economy to contract.

 

Source : CIA

Summary

 

Company name                        AE-ROTOR HOLDING B.V.

Operative address                    Jan Tinbergenstraat 290

7559ST Hengelo

Nederland

 

 

Legal form                               Besloten Vennootschap

Registration number                KvK-nummer: 08097459

VAT-number                             809847838

 

 

Year                             2012                 Mutation           2011                 Mutation

Fixed assets                 1.488.149.805    11,16                1.338.759.614

Total receivables           145.918.871      57,11                92.878.901

Total equity                   890.725.178      0,51                  886.178.608

Short term liabilities       524.248.062      738,15 62.         548.490

Net result

Working capital                         -375.823.360     -1.129,70           36.498.192

Quick ratio                    0,28                  -82,28               1,58

 

 

 

 

Contact information

 

Company name                        AE-ROTOR HOLDING B.V.

Trade names                            AE-Rotor Holding B.V.

Operative address                    Jan Tinbergenstraat 290

7559ST Hengelo

Nederland

Correspondence address         Jan Tinbergenstraat 290

7559ST Hengelo

Nederland

Telephone number                   0884650300

Fax number                              0884650380

Email address                          t.berk@suzlon.com

Website                                    www.suzlon.com

 

 

Registration

 

Registration number                            KvK-nummer: 08097459

Branch number                                    000009887962

VAT-number                                         809847838

Status                                                  Active

First registration company register      20-06-2001

Memorandum                                       08-06-2001

Establishment date                              01-03-2001

Legal form                                           Private Limited Company

Last proposed admendment                 31-03-2009

Issued placed capital                           EUR 636.440.000

Paid up share capital                           EUR 636.440.000

 

 

Activities

 

SBI                                           Financial holding (642)              

Financial holding (6420)

 

Exporter                                   Nee

Importer                                   Nee

 

Goal                             Het oprichten en verwerven van, het deelnemen in, het samenwerken met, het voeren van de directie over, alsmede het (doen) financieren van andere ondernemingen, in welke rechtsvorm ook

 

 

Relations

 

Companies on same address               SE Blades Technology B.V.

Registratie nummer: 080978550000

 

Personeelsvereniging Suzlon Blade Technology

Registratie nummer: 081848260000

 

Suzlon Energy Limited

Registratie nummer: 562279490000

 

Management

 

Active management                                  F.H.J. Visscher (Frans Hilbert Jan)

Nederland

Bevoegdheid: Fully authorized

Functie: General Director

Datum gestart: 17-03-2009

Geboren: 24-06-1953, 's-Gravenhage, NL

Involved with the following companies

•   Suzlon Energy B.V.

Strawinskylaan 555A WTC toren C 5e etage

1077XX Amsterdam Nederland

Registratie nummer: 080978570000 Functie: General Director

K. Vagadia (Kirtikant)

Nederland

            Bevoegdheid: Fully authorized

Functie: General Director

   Datum gestart: 01-04-2012

Geboren: 12-03-1965, Barwala Ahmedabad, IN

Involved with the following companies

 

•   Suzlon Energy B.V.

Strawinskylaan 555A WTC toren C 5e etage

1077XX Amsterdam

Nederland

Registratie nummer: 080978570000 Functie: General Director

T.R. Tanti (Tulsibhai Ranchhodbhai)

Nederland

Bevoegdheid: Fully authorized Functie: General Director Datum gestart: 11-05-2009 Geboren: 02-02-1958, Rajkot, IN

 

 

Employees

 

Total according to the Chamber of Commerce                0

 

 

Year

2014

2010

2009

2004

2003

Total

0

1

1

1

1

 

 

 

 

 

 

Payments

 

Payment terms are unknown.

 

Key Figures

 

 

 

Year

2012            2011

2009

Quick ratio

0,28           1,58

6,51

Current ratio

0,28           1,58

6,51

 

Working capital/ balance total

-0,23           0,03

0,04

Equity / balance total

0,54            0,62

0,41

Equity / Fixed assets

0,60            0,66

0,43

Equity / liabilities

1,19           1,61

0,70

Balance total / liabilities

2,19            2,61

1,70

 

Working capital

-375.823.360       36.498.192

51.433.08

Equity

890.725.178       886.178.608

573.904.928

Mutation equity

0,51

 

Mutation short term liabilities

738,15

 

 

Return on total assets (ROA)

 

-1,61

Return on equity (ROE)

 

-3,89

Gross profit margin

 

-10,01

Net profit margin

 

173,12

 

Average collection ratio

 

0,10

Average payment ratio

 

0,02

Equity turnover ratio

 

0,00

Total assets turnover ratio

 

0,00

Fixed assets turnover ratio

 

0,00

Turnover

 

958.579

Operating result

 

-95.942

Net result after taxes

 

1.659.469

 

EBIT

 

-95.942

 

 

Summary                     The 2012 financial result structure is a negative working captial of -375.823.360 euro, which is in agreement with -23 % of the total assets of the company.

The working capital has diminished with -1129.7 % compared to previous year. The ratio, with respect to the total assets of the company has however, declined.

The deterioration between 2011 and 2012 has mainly been caused by an increase of the current liabilities.

The current ratio of the company in 2012 was 0.28. When the current ratio is below 1.5, the company may have problems meeting its short-term obligations.

The quick ratio in 2012 of the company was 0.28. A company with a Quick Ratio of less than 1 cannot currently pay back its current liabilities.

The 2011 financial result structure is a postive working captial of 36.498.192 euro, which is in agreement with 3 % of the total assets of the company.

The current ratio of the company in 2011 was 1.58. A company with a current ratio between 1.5 and 3.0 generally indicates good short-term financial strength.

The quick ratio in 2011 of the company was 1.58. A company with a Quick Ratio of more than 1 can currently pay back its current liabilities.

 

 

 

 

 

 

Financial statement

 

Last annual account                                         2012

Remark annual account                                    The company is obliged to file its financial statements.

Type of annual account                                    Corporate

Annual account                                                Ae-Rotor Holding B.V.

Jan Tinbergenstraat 290

7559ST Hengelo

Nederland

Registratie nummer:                                         080974590000

 

 

Balance

 

Year                                                    2012                            2011                            2009

End date                                              31-03-2012                    31-03-2011                    31-03-2009

Intangible fixed assets                                     5.917.144                      10.029.000                    4.230.871

Tangible fixed assets                                                                                                   1.323.364.096

Financial fixed assets                           1.482.232.661                1.328.730.614

Fixed assets                                         1.488.149.805                1.338.759.614                1.327.594.967

Total receivables                                  145.918.871                  92.878.901                    51.194.286

Liquid funds                                          2.505.831                      6.167.781                      9.564.815

Current assets                                      148.424.702                  99.046.682                    60.759.101

Total assets                                          1.636.574.507                1.437.806.296                1.388.354.068

Issued capital                                       635.440.000                  635.440.000                  635.440.000

Share premium reserve                          283.500.000                                                      283.500.000

Legal and statutory reserve                    5.914.044                      10.024.700                    4.230.871

Other reserves                                       -34.128.866                   -42.786.092                   -65.765.943

Total reserves                                      255.285.178                  250.738.608                  -61.535.072

Total equity                                          890.725.178                  886.178.608                  573.904.928

Long term interest yielding debt                         221.601.267                  489.079.198                  521.623.047

Financial debts                                                                                                              283.500.000

Long term liabilities                             221.601.267                  489.079.198                  805.123.047

Accounts payable                                                                                                         691.636

Other short term liabilities                                                                                              8.634.457

Short term liabilities                            524.248.062                  62.548.490                    9.326.093

Total short and long term liabilities     745.849.329                  551.627.688                  814.449.140

Total liabilities                                                 1.636.574.507                1.437.806.296                1.388.354.068

 

 

Summary                     The total assets of the company increased with 13.82 % between 2011 and 2012.

The fixed asset growth of 11.16 % is lower than the total asset growth.

The asset growth is explained by a reduction of 35.21 % of the company's indebtness, this while, the Net Worth remains unchanged.

In 2012 the assets of the company were 90.93 % composed of fixed assets and 9.07 % by current assets. The assets are being financed by an equity of 54.43 %, and total debt of 45.57 %.

In 2011 the assets of the company were 93.11 % composed of fixed assets and 6.89 % by current assets. The assets are being financed by an equity of 61.63 %, and total debt of 38.37 %.

 

 

 

 

Profit and loss

2009

Year

 

Revenues

958.579

Net turnover

958.579

 

 

Operating expenses

1.054.521

Result in subsidiaries

-13.769.537

Operating result

-95.942

 

 

Financial income

26.124.393

Financial expenses

34.587.339

Financial result

-8.462.946

Result on ordinary operations before taxes

-22.328.425

 

 

Taxation on the result of ordinary activities

888.602

Result of ordinary activities after taxes

-23.217.027

 

 

Extraordinary income

24.876.496

Extraordinary result after taxation

24.876.496

Net result

1.659.469

 

 

 

 

 

 

 

Analysis

 

Branch (SBI)                             Financial institutions, except insurance and pension funding (64)

Region                                     Twente

In the Netherlands 377806 of the companies are registered with the SBI code 64

In the region Twente 14077 of the companies are registered with the SBI code 64

In the Netherlands 3279 of the bankrupcties are published within this sector

In the region Twente 203 of the bankruptcies are published within this sector

The risk of this specific sector in the Netherlands is Low

The risk of this specific sector in the region Twente is Low

 

 

Publications

 

Filings                                     18-03-2013: De jaarrekening over 2012 (gebroken boekjaar) is gepubliceerd.

30-05-2012: De jaarrekening over 2011 (gebroken boekjaar) is gepubliceerd.

16-05-2012: De jaarrekening over 2010 (gebroken boekjaar) is gepubliceerd.

30-03-2010: De jaarrekening over 2009 (gebroken boekjaar) is gepubliceerd.

 

Functions                     27-06-2012: Per 01-04-2012 is bestuurder Kirtikant Vagadia in functie getreden.

15-06-2012: Per 01-04-2012 is bestuurder Robin Banerjee uit functie getreden.

 

Amendments                16-09-2013: Geplaatst kapitaal gewijzigd in EUR 636.440.000,00 Gestort kapitaal gewijzigd in EUR 636.440.000,00.

 

Other                            07-03-2014: Datum deponering: 18-02-2014 Soort deponering: Geconsolideerde

jaarrekening (art. 408 BW2).

 

 

Company structure

 

Relations                      4

 

Ae-Rotor Holding B.V.

Jan Tinbergenstraat 290 7559ST Hengelo Nederland

Registratie nummer: 080974590000

 

  • SE Blades Technology B.V.

Jan Tinbergenstraat 290 7559ST Hengelo Nederland

Registratie nummer: 080978550000

 

  • Suzlon Energy B.V.

Strawinskylaan 555A WTC toren C 5e etage

1077XX Amsterdam Nederland

Registratie nummer: 080978570000

 

  • Valum Holding B.V.

Strawinskylaan 555A Toren C 15

1077XX AMSTERDAM

Nederland

Registratie nummer: 241053960000

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.44

UK Pound

1

Rs.98.15

Euro

1

Rs. 77.44

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

ANK

 

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.