MIRA INFORM REPORT

 

 

Report Date :

17.12.2014

 

IDENTIFICATION DETAILS

 

Name :

SUZLON ENERGY GMBH

 

 

Registered Office :

Kurt-Dunkelmann-Str. 5, D 18057 Rostock

 

 

Country :

Germany

 

 

Financials (as on) :

31.03.2013

 

 

Date of Incorporation :

22.11.2001

 

 

Com. Reg. No.:

HRB 9571

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Other research and experimental development on natural  sciences and engineering

 

 

No. of Employees :

198

 

 

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 – 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 and address  

 

Suzlon Energy GmbH

 

Company Status:      active

                      Kurt-Dunkelmann-Str. 5

                      D 18057 Rostock

                      Telephone:0381/12884-0

                      Telefax:  0381/12884-550

                      Homepage: www.suzlon.de

                      E-mail:   germany-info@suzlon.com

 

 

VAT no. 

 

DE233746759

 

 

CONCLUSION

 

Business relations are permissible.

 

 

Comapny Summary

 

 LEGAL FORM              Private limited company

 Date of foundation:      22.11.2001

 Shareholders'

 agreement:                   22.11.2001

 Registered on:             20.10.2003

 Commercial Register:   Local court 18057 Rostock

 under:                          HRB 9571

 

 

Share capital                      

 

EUR                             25,000.00

 

 Shareholder:

                      SE Drive Technik GmbH

                      Wasserstr. 223

                      D 44799 Bochum

                      Legal form: Private limited company

                      Share capital:     EUR             25,000.00

                      Share:             EUR             25,000.00

                      Registered on: 24.11.2006

                      Reg. data: 44787 Bochum, HRB 11018

 Manager:

                      Frans Hilbert Jan Visscher

                      NL  Bergen

                      having sole power of representation

                      born: 24.06.1953

                      Nationality: Dutch

 Manager:

                      Dr. Jens-Uwe Kurt Henkner

                      D 20095 Hamburg

                      having sole power of representation

                      born: 06.01.1966

 Proxy:

                      Dr. Rüdiger Kortenkamp

                      D 23617 Stockelsdorf

                      authorized to jointly represent the company

                      born: 06.05.1959

                      Marital status: unknown

 Proxy:

                      Ole Marquardt

                      D 21614 Buxtehude

                      authorized to jointly represent the company

                      born: 23.04.1967

 Proxy:

                      Jens Keller

                      D 18196 Kessin

                      authorized to jointly represent the company

                      born: 09.12.1968

 

 

COMPANY HISTORY

 

 30.11.2001 - 29.08.2002  AX 215 VerwaltungsgesellschaftmbH (AG

                          Göppingen, HRB 3469)

                          Wolfshalde 81

                          D 73061 Ebersbach

                          Private limited company

 30.08.2002 - 19.10.2003  Suzlon Energy GmbH (AG Berlin, HRB

                          85894)

                          Lise-Meitner-Str. 1

                          D 10589 Berlin

                          Private limited company

 20.10.2003 - 07.09.2010  Suzlon Energy GmbH

                          August-Bebel-Str. 10

                          D 18055 Rostock

                          Private limited company

 

 

RESIGNED ACTING PERSONS AND SHAREHOLDERS

 

 02.12.2009 - 24.06.2013  Manager

                          John O'Halloran

                          USA Columbus (Indiana)

 

 

BUSINESS ACTIVITIES

 

 Main industrial sector

 72190   Other research and experimental development on natural  sciences and engineering

 

 

BRANCHES AND FACTORIES

 

Branch:

                      Suzlon Energy GmbH

                      Kühnehöfe 3a

                      D 22761 Hamburg

                      TEL.: 040/4600376-0

                      FAX.: 040/4600376-10

 Branch:

                      Suzlon Energy GmbH

                      Oranienplatz 4

                      D 10999 Berlin

                      TEL.: 030/6167179-0

                      FAX.: 030/6167179-10

 

 

FINANCIAL INFORMATION

 

 Payment experience:  within agreed terms

 

 Negative information:We have no negative information at hand.

 

 Balance sheet year:  2012/2013

 

 

REAL ESTATE

 

Type of ownership:        Tenant

Address                        Kurt-Dunkelmann-Str. 5

                                    D 18057 Rostock

 

Land register documents were not available.

 

 

BANKERS

 

A bank connection is unknown.

 

 

FINANCIAL FIGURES

 

 Gross profit or loss:2011/2012          EUR         19,524,907.00

                      2012/2013          EUR         16,959,101.00

                      2013/2014          EUR         16,960,000.00

 Profit:              2011/2012          EUR            917,113.00

                      2012/2013          EUR         -1,301,615.00

 further business figures:

 Ac/ts receivable:                       EUR         23,766,434.00

 Liabilities:                            EUR         17,293,680.00

 Employees:                                                    198

 

 

BALANCE SHEETS

 

 Balance sheet ratios 01.04.2012 - 31.03.2013

 Equity ratio [%]:                 60.08

 Liquidity ratio:                   1.39

 Return on total capital [%]:      -2.80

 

 Balance sheet ratios 01.04.2011 - 31.03.2012

 Equity ratio [%]:                 53.68

 Liquidity ratio:                   0.23

 Return on total capital [%]:       1.69

 

 Balance sheet ratios 01.04.2010 - 31.03.2011

 Equity ratio [%]:                 67.08

 Liquidity ratio:                   1.03

 Return on total capital [%]:       1.78

 

 Balance sheet ratios 01.04.2009 - 31.03.2010

 Equity ratio [%]:                 71.97

 Liquidity ratio:                   1.70

 Return on total capital [%]:       2.23

 

 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         46,622,106.99

  Fixed assets                           EUR          3,170,928.76

   Intangible assets                     EUR            243,694.70

   Tangible assets                       EUR          2,927,234.06

  Current assets                         EUR         43,304,202.68

   Stocks                                EUR         19,384,752.12

   Accounts receivable                   EUR         23,766,433.67

   Liquid means                          EUR            153,016.89

  Remaining other assets                 EUR            146,975.55

   Accruals (assets)                     EUR            146,975.55

 

 LIABILITIES                             EUR         46,622,106.99

  Shareholders' equity                   EUR         28,058,840.78

   Capital                               EUR             25,000.00

    Subscribed capital (share capital)   EUR             25,000.00

   Reserves                              EUR         26,778,951.77

    Capital reserves                     EUR         26,778,951.77

   Balance sheet profit/loss (+/-)       EUR          1,254,889.01

    Profit / loss brought forward        EUR          2,556,504.16

    Annual surplus / annual deficit      EUR         -1,301,615.15

  Provisions                             EUR          1,269,586.00

  Liabilities                            EUR         17,293,680.21

 

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

 Code (HGB)

  Gross result (+/-)                     EUR         16,959,101.22

  Staff expenses                         EUR         13,795,535.42

   Wages and salaries                    EUR         11,813,232.80

   Social security contributions and

   expenses for pension plans and

   benefits                              EUR          1,982,302.62

  Total depreciation                     EUR          1,067,286.42

   Depreciation on tangible / intangible

   asssets (incl. start-up and exp. of

   bus.                                  EUR          1,067,286.42

  Other operating expenses               EUR          2,498,259.20

  Operating result from continuing

  operations                             EUR           -401,979.82

  Interest result (+/-)                  EUR            -35,140.37

   Interest and similar income           EUR                571.67

   Interest and similar expenses         EUR             35,712.04

  Financial result (+/-)                 EUR            -35,140.37

  Result from ordinary operations (+/-)  EUR           -437,120.19

  Income tax / refund of income tax (+/-)EUR           -864,494.96

  Tax (+/-)                              EUR           -864,494.96

  Annual surplus / annual deficit        EUR         -1,301,615.15

 

 

Type of balance sheet:                    Company balance sheet

 

 Financial year:                          01.04.2011 - 31.03.2012

 

 ASSETS                                  EUR         54,535,567.40

  Fixed assets                           EUR          4,074,092.03

   Intangible assets                     EUR            370,620.84

   Tangible assets                       EUR          3,703,471.19

  Current assets                         EUR         50,276,328.20

   Stocks                                EUR         44,012,495.81

   Accounts receivable                   EUR          5,100,656.78

    Other debtors and assets             EUR          5,100,656.78

   Liquid means                          EUR          1,163,175.61

  Remaining other assets                 EUR            185,147.17

   Accruals (assets)                     EUR            185,147.17

 

 LIABILITIES                             EUR         54,535,567.40

  Shareholders' equity                   EUR         29,360,455.93

   Capital                               EUR             25,000.00

    Subscribed capital (share capital)   EUR             25,000.00

   Reserves                              EUR         26,778,951.77

    Capital reserves                     EUR         26,778,951.77

   Balance sheet profit/loss (+/-)       EUR          2,556,504.16

    Profit / loss brought forward        EUR          1,639,391.62

    Annual surplus / annual deficit      EUR            917,112.54

  Provisions                             EUR          1,646,200.00

  Liabilities                            EUR         23,528,911.47

 

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

 Code (HGB)

  Gross result (+/-)                     EUR         19,524,906.72

  Staff expenses                         EUR         12,984,669.84

   Wages and salaries                    EUR         11,061,288.80

   Social security contributions and

   expenses for pension plans and

   benefits                              EUR          1,923,381.04

  Total depreciation                     EUR            988,889.55

   Depreciation on tangible / intangible

   asssets (incl. start-up and exp. of

   bus.                                  EUR            988,889.55

  Other operating expenses               EUR          3,680,651.70

  Operating result from continuing

  operations                             EUR          1,870,695.63

  Interest result (+/-)                  EUR             -7,437.70

   Interest and similar income           EUR              5,202.11

   Interest and similar expenses         EUR             12,639.81

  Financial result (+/-)                 EUR             -7,437.70

  Result from ordinary operations (+/-)  EUR          1,863,257.93

  Income tax / refund of income tax (+/-)EUR           -946,145.39

  Tax (+/-)                              EUR           -946,145.39

  Annual surplus / annual deficit        EUR            917,112.54

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.41

UK Pound

1

Rs.99.30

Euro

1

Rs.79.00

 

INFORMATION DETAILS

 

Analysis Done by :

RAS

 

 

Report Prepared by :

NIT

 

               

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%)

 

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.