MIRA INFORM REPORT

 

 

Report Date :

20.12.2014

 

IDENTIFICATION DETAILS

 

Name :

KARL MAYER TEXTILMASCHINENFABRIK GMBH

 

 

Registered Office :

Brühlstr. 25, D 63179 Obertshausen, Post Box: 11 20, D 63166 Obertshausen

 

 

Country :

Germany

 

 

Financials (as on) :

31.12.2012

 

 

Date of Incorporation :

1937

 

 

Com. Reg. No.:

28940  

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Manufacture of machinery for textile, apparel and leather production.

 

 

No of Employees :

1,088

 

 

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 & ADDRESS

 

KARL MAYER TEXTILMASCHINENFABRIK GMBH

 

 

COMPANY ADDRESS

 

Brühlstr. 25

D 63179 Obertshausen

Post Box:

11 20, D 63166 Obertshausen

 

Telephone:        06104/4020

Telefax:            06104/402600

Homepage:       www.karlmayer.com

E-mail:              info@karlmayer.com

 

 

VAT no           

 

DE113563493

 

 

CONCLUSION

 

 Business relations are permissible.

 

 

COMPANY DETAILS

 

 LEGAL FORM              Private limited company

 Date of foundation:      1937

 Shareholders'

 agreement:                   26.10.1949

 Registered on:             01.12.1949

 Commercial Register:   Local court 63065 Offenbach

 under:                          HRB 2203

 

 

Share capital                   

 

EUR         15,000,000.00

 

 

Shareholder

 

                      KARL MAYER Verwaltungsgesellschaft mbH

                      Brühlstr. 25

                      D 63179 Obertshausen

                      Legal form: Private limited company

                      Share capital:     EUR          4,000,000.00

                      Share:             EUR         14,100,000.00

                      Registered on: 19.12.2005

                      Reg. data: 63065 Offenbach, HRB 42030

 Shareholder:

                      KARL MAYER Vermögensverwaltungs GmbH & Co.

                      KG

                      Brühlstr. 25

                      D 63179 Obertshausen

                      Legal form: Ltd partnership with priv. ltd.

                      company as general partner

                      Total cap.         EUR                100.00

                      contribution:

                      Share:             EUR            900,000.00

                      Registered on: 18.05.2005

   

                  Reg. data: 63065 Offenbach, HRA 40507

 

 

Manager

                      Arno Karl Heinz Gärtner

                      Alemannenring 35

                      D 63791 Karlstein

                      authorized to jointly represent the company

                      born: 31.01.1968

                      Profession: graduate engineer

                      Marital status: unknown

 Manager:

                      Dr. Helmut Preßl

                      D 63263 Neu-Isenburg

                      authorized to jointly represent the company

                      born: 03.08.1963

                      Marital status: unknown

 

 

Further functions/participations of Arno Karl Heinz Gärtner (Manager)

 

Manager:

                      KARL MAYER Holding Verwaltungs GmbH

                      Brühlstr. 25

                      D 63179 Obertshausen

                      Legal form: Private limited company

                      Share capital:     EUR             25,000.00

                      Registered

                      on:         01.11.2005

                      Reg. data:  63065 Offenbach, HRB 41935

 Manager:

                      KARL MAYER Malimo Textilmaschinenfabrik GmbH

                      Mauersbergerstr. 2

                      D 09117 Chemnitz

                      Legal form: Private limited company

                      Share capital:     EUR          5,200,000.00

                      Registered

                      on:         07.10.1997

                      Reg. data:  09112 Chemnitz, HRB 14782

 Manager:

                      KARL MAYER Verwaltungsgesellschaft mbH

                      Brühlstr. 25

                      D 63179 Obertshausen

                      Legal form: Private limited company

                      Share capital:     EUR          4,000,000.00

                      Registered

                      on:         19.12.2005

                      Reg. data:  63065 Offenbach, HRB 42030

 

 

Further functions/participations of Dr. Helmut Preßl (Manager)

 

 Manager:

                      KARL MAYER Verwaltungsgesellschaft mbH

                      Brühlstr. 25

                      D 63179 Obertshausen

                      Legal form: Private limited company

                      Share capital:     EUR          4,000,000.00

                      Registered

                      on:         19.12.2005

                      Reg. data:  63065 Offenbach, HRB 42030

 Manager:

                      KARL MAYER Holding Verwaltungs GmbH

                      Brühlstr. 25

                      D 63179 Obertshausen

                      Legal form: Private limited company

                      Share capital:     EUR             25,000.00

                      Registered

                      on:         01.11.2005

                      Reg. data:  63065 Offenbach, HRB 41935

 

 

 RESIGNED ACTING PERSONS AND SHAREHOLDERS

 

 05.01.2012 - 09.07.2013  President of the Board of Management

                          Fritz Peter Mayer

                          D 60528 Frankfurt

 

 

BUSINESS ACTIVITIES

 

 Main industrial sector

 28940   Manufacture of machinery for textile, apparel and leather

 production

 

 Secondary industrial sector

 96090   Other service activities n. e. c.

 

 

PARTICIPATIONS

 

 Shareholder:

                      KARL MAYER Malimo Textilmaschinenfabrik GmbH

                      Mauersbergerstr. 2

                      D 09117 Chemnitz

                      Legal form:         Private limited company

                      Company Status:            active

                      Share capital:     EUR          5,200,000.00

                      Share:                 EUR          5,200,000.00

                      Reg. data:           07.10.1997

                                                Local court 09112 Chemnitz

                                                HRB 14782

 Shareholder:

                      KARL MAYER LIBA Textilmaschinenfabrik GmbH

                      Oberklingensporn 1

                      D 95119 Naila

                      Post Box:

                      11 20

                      Legal form:         Private limited company

                      Company Status:            active

                      Share capital:     EUR          3,500,000.00

                      Share:                 EUR          2,800,000.00

                      Reg. data:           27.03.1947

                                                Local court 95030 Hof

                                                HRB 56

 

 

FINANCIAL INFORMATION

 

Payment experience:     within periods customary in this trade

 

Negative information:    We have no negative information at hand.

 

Balance sheet year:  2012

 

 

REAL ESTATE

 

 Type of ownership:       proprietor

 Share:                          100.00 %

 Address                       Brühlstr. 25

                                    D 63179 Obertshausen

 Type of real estate:      residential and business location

 

 Land register documents were not available.

 

 

BANKERS

 

Principal bank

DEUTSCHE BANK, 63065 OFFENBACH AM MAIN

Sort. code: 50570018, Account no.: 1048958

BIC: DEUTDEFF505, IBAN: DE08505700180104895800

 

Further bank

COMMERZBANK, 63003 OFFENBACH AM MAIN

Sort. code: 50540028, Account no.: 4418000

BIC: COBADEFFXXX, IBAN: DE21505400280441800000

 

 

 FINANCIAL FIGURES

 

 Gross profit or loss:2012               EUR        297,467,873.00

 Profit:              2012               EUR         13,513,618.00

 Equipment:                              EUR          6,376,530.00

 Ac/ts receivable:                       EUR        140,308,758.00

 Liabilities:                            EUR         33,971,677.00

 Employees:                                                  1,088

 

 

 BALANCE SHEETS

 

 Balance sheet ratios 01.01.2012 - 31.12.2012

 Equity ratio [%]:                 61.80

 Liquidity ratio:                   4.38

 Return on total capital [%]:       6.06

 Balance sheet grade:                1.5

 

 Balance sheet ratios 01.01.2011 - 31.12.2011

 Equity ratio [%]:                 69.01

 Liquidity ratio:                  10.00

 Return on total capital [%]:      16.15

 Balance sheet grade:                1.0

 

 Balance sheet ratios 01.01.2010 - 31.12.2010

 Equity ratio [%]:                 73.08

 Liquidity ratio:                  10.00

 Return on total capital [%]:       6.69

 Balance sheet grade:                1.5

 

 Balance sheet ratios 01.01.2009 - 31.12.2009

 Equity ratio [%]:                 75.95

 Liquidity ratio:                  10.00

 Return on total capital [%]:      -8.28

 Balance sheet grade:                2.6

 

 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        329,303,329.97

  Fixed assets                           EUR         75,745,611.07

   Intangible assets                     EUR          2,988,862.00

    Concessions, licences, rights        EUR          2,988,862.00

   Tangible assets                       EUR         53,146,549.42

    Land / similar rights                EUR         37,867,890.26

    Plant / machinery                    EUR          5,617,746.00

    Other tangible assets / fixtures and

    fittings                             EUR          6,376,530.35

    Advance payments made / construction

    in progress                          EUR          3,284,382.81

   Financial assets                      EUR         19,610,199.65

    Shares in participations /

    subsidiaries and the like            EUR         19,148,009.73

     Shares in related companies         EUR         19,148,009.73

    Loans to participations /

    subsidiaries and the like            EUR            400,000.00

     Loans to related companies          EUR            400,000.00

    Other loans                          EUR             62,189.92

  Current assets                         EUR        252,117,358.06

   Stocks                                EUR         83,992,259.11

    Raw materials, consumables and

    supplies                             EUR         31,471,518.27

    Finished goods / work in progress    EUR         52,520,740.84

   Accounts receivable                   EUR        140,308,758.04

    Trade debtors                        EUR         13,174,395.93

    Amounts due from related companies   EUR        124,285,568.62

    Other debtors and assets             EUR          2,848,793.49

   Investments in current assets         EUR          1,908,844.00

   Liquid means                          EUR         25,907,496.91

  Remaining other assets                 EUR          1,440,360.84

   Accruals (assets)                     EUR            201,839.83

   Deferred taxes (assets)               EUR          1,238,521.01

 

 LIABILITIES                             EUR        329,303,329.97

  Shareholders' equity                   EUR        244,111,821.10

   Capital                               EUR         15,000,000.00

    Subscribed capital (share capital)   EUR         15,000,000.00

   Reserves                              EUR        150,676,876.00

    Capital reserves                     EUR         36,448,745.56

    Retained earnings / revenue reserves EUR        114,228,130.44

   Balance sheet profit/loss (+/-)       EUR         78,434,945.10

    Profit / loss brought forward        EUR         64,921,327.39

    Annual surplus / annual deficit      EUR         13,513,617.71

  Provisions                             EUR         50,745,980.00

   Pension provisions and comparable

   provisions                            EUR         13,607,496.00

   Provisions for taxes                  EUR          1,254,389.00

   Other / unspecified provisions        EUR         35,884,095.00

  Liabilities                            EUR         33,971,677.19

   Other liabilities                     EUR         33,971,677.19

    Trade creditors (for IAS incl. bills

    of exchange)                         EUR          7,173,348.65

    Liabilities from received advance

    payments                             EUR          9,580,575.61

    Liabililties due to related companiesEUR         16,543,949.11

    Unspecified other liabilities        EUR            673,803.82

     thereof liabilities from social

     security                            EUR             60,925.26

  Other liabilities                      EUR            473,851.68

   Deferrals (liabilities)               EUR            473,851.68

 

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

 Code (HGB)

  Sales                                  EUR        297,467,873.01

  Inventory change + own costs (+/-)     EUR        -10,819,909.54

   Inventory change (+/-)                EUR        -11,345,014.22

   Capitalised own costs                 EUR            525,104.68

  Other operating income                 EUR         13,332,204.98

  Cost of materials                      EUR        166,601,333.54

   Raw materials and supplies, purchased

   goods                                 EUR        121,103,927.69

   Purchased services                    EUR         45,497,405.85

  Gross result (+/-)                     EUR        133,378,834.91

  Staff expenses                         EUR         72,571,680.07

   Wages and salaries                    EUR         58,646,845.03

   Social security contributions and

   expenses for pension plans and

   benefits                              EUR         13,924,835.04

  Total depreciation                     EUR          5,495,206.80

   Depreciation on tangible / intangible

   asssets (incl. start-up and exp. of

   bus.                                  EUR          5,495,206.80

  Other operating expenses               EUR         30,312,379.40

  Operating result from continuing

  operations                             EUR         24,999,568.64

  Result from participating interests

  (+/-)                                  EUR         -5,011,315.57

   Expenses for participations           EUR          5,011,315.57

    Expenses for other participations    EUR          5,011,315.57

  Interest result (+/-)                  EUR            898,585.48

   Interest and similar income           EUR          1,660,272.25

    thereof from related companies       EUR            229,156.90

   Interest and similar expenses         EUR            761,686.77

  Other financial result                 EUR         -2,666,426.05

   Income from securities and loans from

   financial assets                      EUR              8,374.73

    thereof related companies            EUR              5,210.68

   Depreciation on financial assets and

   marketable securities                 EUR          2,674,800.78

  Financial result (+/-)                 EUR         -6,779,156.14

  Result from ordinary operations (+/-)  EUR         18,220,412.50

  Income tax / refund of income tax (+/-)EUR         -4,706,794.79

  Tax (+/-)                              EUR         -4,706,794.79

  Annual surplus / annual deficit        EUR         13,513,617.71

 

 TYPE OF BALANCE SHEET:               COMPANY BALANCE SHEET

 

 FINANCIAL YEAR:                           01.01.2011 - 31.12.2011

 

 ASSETS                                  EUR        353,366,237.89

  Fixed assets                           EUR         76,504,952.24

   Intangible assets                     EUR          2,090,965.05

    Concessions, licences, rights        EUR          1,850,965.00

    Advance payments for intang. assets  EUR            240,000.05

   Tangible assets                       EUR         51,943,533.07

    Land / similar rights                EUR         39,614,785.01

    Plant / machinery                    EUR          6,236,897.00

    Other tangible assets / fixtures and

    fittings                             EUR          5,596,695.13

    Advance payments made / construction

    in progress                          EUR            495,155.93

   Financial assets                      EUR         22,470,454.12

    Shares in participations /

    subsidiaries and the like            EUR         21,818,009.73

     Shares in related companies         EUR         21,818,009.73

    Loans to participations /

    subsidiaries and the like            EUR            600,000.00

     Loans to related companies          EUR            600,000.00

    Other loans                          EUR             52,444.39

  Current assets                         EUR        275,605,311.42

   Stocks                                EUR         93,336,380.43

    Raw materials, consumables and

    supplies                             EUR         29,359,604.15

    Finished goods / work in progress    EUR         63,801,913.70

    Advance payments made                EUR            174,862.58

   Accounts receivable                   EUR         54,134,459.64

    Trade debtors                        EUR         21,009,922.21

    Amounts due from related companies   EUR         32,274,336.09

    Other debtors and assets             EUR            850,201.34

   Investments in current assets         EUR          1,698,810.40

   Liquid means                          EUR        126,435,660.95

  Remaining other assets                 EUR          1,255,974.23

   Accruals (assets)                     EUR            131,147.42

   Deferred taxes (assets)               EUR          1,124,826.81

 

 LIABILITIES                             EUR        353,366,237.89

  Shareholders' equity                   EUR        243,098,203.39

   Capital                               EUR         15,000,000.00

    Subscribed capital (share capital)   EUR         15,000,000.00

   Reserves                              EUR        150,676,876.00

    Capital reserves                     EUR         36,448,745.56

    Retained earnings / revenue reserves EUR        114,228,130.44

   Balance sheet profit/loss (+/-)       EUR         77,421,327.39

    Profit / loss brought forward        EUR         20,542,892.51

    Annual surplus / annual deficit      EUR         56,878,434.88

  Provisions                             EUR         77,589,624.53

   Pension provisions and comparable

   provisions                            EUR         11,999,318.00

   Provisions for taxes                  EUR         11,245,280.53

   Other / unspecified provisions        EUR         54,345,026.00

  Liabilities                            EUR         32,114,741.58

   Other liabilities                     EUR         32,114,741.58

    Trade creditors (for IAS incl. bills

    of exchange)                         EUR          6,198,149.08

    Liabilities from received advance

    payments                             EUR         10,969,957.88

    Liabililties due to related companiesEUR         13,610,440.95

    Unspecified other liabilities        EUR          1,336,193.67

     thereof liabilities from social

     security                            EUR             47,938.58

  Other liabilities                      EUR            563,668.39

   Deferrals (liabilities)               EUR            563,668.39

 

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

 Code (HGB)

  Sales                                  EUR        489,835,465.52

  Inventory change + own costs (+/-)     EUR         11,062,250.04

   Inventory change (+/-)                EUR         10,804,416.69

   Capitalised own costs                 EUR            257,833.35

  Other operating income                 EUR          9,978,243.85

  Cost of materials                      EUR        281,490,725.62

   Raw materials and supplies, purchased

   goods                                 EUR        190,197,068.18

   Purchased services                    EUR         91,293,657.44

  Gross result (+/-)                     EUR        229,385,233.79

  Staff expenses                         EUR         87,530,413.50

   Wages and salaries                    EUR         75,445,916.56

   Social security contributions and

   expenses for pension plans and

   benefits                              EUR         12,084,496.94

  Total depreciation                     EUR          5,456,193.92

   Depreciation on tangible / intangible

   asssets (incl. start-up and exp. of

   bus.                                  EUR          5,456,193.92

  Other operating expenses               EUR         56,173,483.59

  Operating result from continuing

  operations                             EUR         80,225,142.78

  Result from participating interests

  (+/-)                                  EUR         -2,496,793.34

   Expenses for participations           EUR          2,496,793.34

    Expenses for other participations    EUR          2,496,793.34

  Interest result (+/-)                  EUR            749,561.75

   Interest and similar income           EUR          1,863,475.11

    thereof from related companies       EUR            198,203.47

   Interest and similar expenses         EUR          1,113,913.36

  Other financial result                 EUR             11,364.92

   Income from securities and loans from

   financial assets                      EUR             17,797.52

    thereof related companies            EUR             14,811.33

   Depreciation on financial assets and

   marketable securities                 EUR              6,432.60

  Financial result (+/-)                 EUR         -1,735,866.67

  Result from ordinary operations (+/-)  EUR         78,489,276.11

  Income tax / refund of income tax (+/-)EUR        -21,610,841.23

  Tax (+/-)                              EUR        -21,610,841.23

  Annual surplus / annual deficit        EUR         56,878,434.88

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.07

UK Pound

1

Rs.98.73

Euro

1

Rs.77.46

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

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%)

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.