MIRA INFORM REPORT

Report Date :

31.12.2014

IDENTIFICATION DETAILS

Name :	PTMD WEST-EUROPE B.V.
Registered Office :	Pietseweg 13A, 4751RT Oud Gastel
Country :	Netherlands
Financials (as on) :	31.12.2013
Date of Incorporation :	28.08.2008
Com. Reg. No.:	20143939
Legal Form :	Private Company
Line of Business :	Maintaining, coordinating, facilitating and managing a sales team that deals with the sale of the collection PTMD- Sectors in the countries Belgium , Luxembourg, France and the Iberian Peninsula , including inter alia the conclusion of agency agreements and the paying the fees under that agency agreements to pay commissions to agents, presentation of the products on sale fairs and other promotional activities .
No. of Employee :	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 :	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)
Netherlands	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

NETHERLANDS - 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 PTMD West-Europe B.V.

Operative address Pietseweg 13a

4751RT Oud Gastel

Netherlands

Legal form Besloten Vennootschap

Registration number KvK-nummer: 20143939

VAT-number 819829225

Year	2013	Mutation	2012	Mutation
Total receivables	21.943
Total equity	11.948	-19,72	14.883
Short term liabilities	20.338
Working capital	11.948	-19,72	14.883
Quick ratio	1,59

Contact information

Company name PTMD West-Europe B.V.

Trade names PTMD West-Europe B.V.

Operative address Pietseweg 13a

4751RT Oud Gastel

Netherlands

Correspondence address Pietseweg 13a

4751RT Oud Gastel

Netherlands

Telephone number 0165517000

Fax number 0165517017

Website www.ptmd.nl

Registration

Registration number KvK-nummer: 20143939

Branch number 000019900864

VAT-number 819829225

Status Active

First registration company register 2008-08-29

Memorandum 2008-08-28

Establishment date 2008-08-28

Legal form   Private Company

Issued placed capital EUR 18.000

Paid up share capital EUR 18.000

Activities

SBI Organisational planning (70221)

Exporter No

Importer No

Goal  Maintaining , coordinating, facilitating and managing a sales team that deals with the sale of the collection PTMD- Sectors in the countries Belgium , Luxembourg, France and the Iberian Peninsula , including inter alia the conclusion of agency agreements and the paying the fees under that agency agreements to pay commissions to agents, presentation of the products on sale fairs and other promotional activities .

Relations

Shareholders Pot en Mand B.V.

Pietseweg 13/A

4751RT OUD GASTEL

Netherlands

Registration number: 242855140000

Percentage: 100%

Management

Active management Pot en Mand B.V.

Pietseweg 13/A

4751RT OUD GASTEL

Netherlands

Registration number: 242855140000

Competence: Fully authorized

Function: Manager

Starting date: 2008-08-28

Employees

Total according to the Chamber of Commerce 0

YEAR 2014

Total 0

Payment

Description Payments are made regularly with some delay

Key figures
Year	2013	2012
Quick ratio	1,59
Current ratio	1,59
Working capital/ balance total	0,37	1,00
Equity / balance total	0,37	1,00
Equity / liabilities	0,59
Balance total / liabilities	1,59
Working capital	11.948	14.883
Equity	11.948	14.883
Mutation equity	-19,72

Summary

The 2013 financial result structure is a postive working captial of 11.948 euro, which is in agreement with 37 % of the total assets of the company.

The working capital has diminished with -19.72 % compared to previous year. The ratio, with respect to the total assets of the company has however, declined.

The deterioration between 2012 and 2013 has mainly been caused by a reduction of the current assets.

The current ratio of the company in 2013 was 1.59. A company with a current ratio between 1.5 and 3.0 generally indicates good short-term financial strength.

The quick ratio in 2013 of the company was 1.59. A company with a Quick Ratio of more than

1 can currently pay back its current liabilities.

The 2012 financial result structure is a postive working captial of 14.883 euro, which is in agreement with 100 % of the total assets of the company.

Financial statement

Last annual account 2013

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

Type of annual account Corporate

Annual account PTMD West-Europe B.V.

Pietseweg 13a

4751RT Oud Gastel

Netherlands

Registration number: 201439390000

Balance

Year	2013	2012
End date	2013-12-31	2012-12-31
Total receivables	21.943
Liquid funds	10.343	14.883
Current assets	32.286	14.883
Total assets	32.286	14.883
Issued capital	18.000	18.000
Other reserves	-6.052	-3.117
Total reserves	-6.052	-3.117
Total equity	11.948	14.883

Year	2013	2012
End date	2013-12-31	2012-12-31
Short term liabilities	20.338
Total short and long term liabilities	20.338
Total liabilities	32.286	14.883

Summary The total assets of the company increased with 116.93 % between 2012 and 2013.

Analysis

Branch (SBI) Holding companies (not financial) (70)

Region West-Brabant

In the Netherlands 164954 of the companies are registered with the SBI code 70

In the region West-Brabant 5919 of the companies are registered with the SBI code 70

In the Netherlands 1108 of the bankrupcties are published within this sector

In the region West-Brabant 46 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 West-Brabant is Low

Publications

Filings 27-08-2014: De jaarrekening over 2013 is gepubliceerd.

05-02-2014: De jaarrekening over 2012 is gepubliceerd.

01-03-2012: De jaarrekening over 2008 is gepubliceerd.

01-03-2012: De jaarrekening over 2009 is gepubliceerd.

01-03-2012: De jaarrekening over 2010 is gepubliceerd.

Company structure

Relations 5

Pot en Mand Beheer B.V.

Pietseweg 13/A

4751RT OUD GASTEL

Netherlands

Registration number: 242418440000

• Pot en Mand B.V.

Pietseweg 13/A

4751RT OUD GASTEL

Netherlands

Registration number: 242855140000

• PTMD West-Europe B.V.

Pietseweg 13a

4751RT Oud Gastel

Netherlands

Registration number: 201439390000

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.63.75
UK Pound	1	Rs.98.87
Euro	1	Rs.77.32

INFORMATION DETAILS

Analysis Done by :	SUB
Report Prepared by :	TPT

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.