MIRA INFORM REPORT

Report Date :

16.07.2014

IDENTIFICATION DETAILS

Name :	E.L.G. HANIEL METALS LIMITED
Formerly Known As :	E.L.G. METALS LIMITED
Registered Office :	Templeborough Works, Sheffield Road, Tinsley, Sheffield S9 1RT
Country :	United Kingdom
Financials (as on) :	31.12.2013
Date of Incorporation :	18.09.1980
Legal Form :	Private Limited With Share Capital
Line of Business :	Trading of Metal
No. of Employees :	213

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 – March 31, 2014

Country Name	Previous Rating (31.12.2013)	Current Rating (31.03.2014)
United Kingdom	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderately Low Risk	B1
Moderate Risk	B2
Moderately High Risk	C1
High Risk	C2
Very High Risk	D

UNITED KINGDOM - ECONOMIC OVERVIEW

The UK, a leading trading power and financial center, is the third largest economy in Europe after Germany and France. Over the past two decades, the government has greatly reduced public ownership. Agriculture is intensive, highly mechanized, and efficient by European standards, producing about 60% of food needs with less than 2% of the labor force. The UK has large coal, natural gas, and oil resources, but its oil and natural gas reserves are declining and the UK became a net importer of energy in 2005. Services, particularly banking, insurance, and business services, are key drivers of British GDP growth. Manufacturing, meanwhile, has declined in importance but still accounts for about 10% of economic output. After emerging from recession in 1992, Britain's economy enjoyed the longest period of expansion on record during which time growth outpaced most of Western Europe. In 2008, however, the global financial crisis hit the economy particularly hard, due to the importance of its financial sector. Falling home prices, high consumer debt, and the global economic slowdown compounded Britain's economic problems, pushing the economy into recession in the latter half of 2008 and prompting the then BROWN (Labour) government to implement a number of measures to stimulate the economy and stabilize the financial markets; these included nationalizing parts of the banking system, temporarily cutting taxes, suspending public sector borrowing rules, and moving forward public spending on capital projects. Facing burgeoning public deficits and debt levels, in 2010 the CAMERON-led coalition government (between Conservatives and Liberal Democrats) initiated a five-year austerity program, which aimed to lower London's budget deficit from about 11% of GDP in 2010 to nearly 1% by 2015. In November 2011, Chancellor of the Exchequer George OSBORNE announced additional austerity measures through 2017 largely due to the euro-zone debt crisis. The CAMERON government raised the value added tax from 17.5% to 20% in 2011. It has pledged to reduce the corporation tax rate to 21% by 2014. The Bank of England (BoE) implemented an asset purchase program of £375 billion (approximately $605 billion) as of December 2013. During times of economic crisis, the BoE coordinates interest rate moves with the European Central Bank, but Britain remains outside the European Economic and Monetary Union (EMU). In 2012, weak consumer spending and subdued business investment weighed on the economy, however, in 2013 GDP grew 1.4%, accelerating unexpectedly in the second half of the year because of greater consumer spending and a recovering housing market. The budget deficit is falling but remains high at nearly 7% and public debt has continued to increase.

Source : CIA

REGISTERED NAME & COMPANY SUMMARY

E.L.G. HANIEL METALS LIMITED

DIRECTORS/MANAGEMENT

Current Directors

Name	Jon Paul Greenwood	Date of Birth	28/05/1966
Officers Title	Mr	Nationality	British
Present Appointments	1	Function	Director
Appointment Date	06/09/2011
Address	Templeborough Works Sheffield Road, Sheffield, South Yorkshire, S9 1RT
Other Actions	View Director Report	View Consumer Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	Detlef Drafz	Date of Birth	27/06/1962
Officers Title	Mr	Nationality	German
Present Appointments	1	Function	Director
Appointment Date	31/05/2007
Address	Templeborough Works, Sheffield Road,, Tinsley, Sheffield, South Yorkshire, S9 1RT
Other Actions	View Director Report	View Consumer Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	Norbert Spaker	Date of Birth	24/02/1957
Officers Title	Mr	Nationality	German
Present Appointments	1	Function	Director
Appointment Date	31/05/2007
Address	Templeborough Works, Sheffield Road,, Tinsley, Sheffield, South Yorkshire, S9 1RT
Other Actions	View Director Report	View Consumer Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	Mark Andrew Vaughan	Date of Birth	27/04/1967
Officers Title	Mr	Nationality	British
Present Appointments	2	Function	Director
Appointment Date	11/12/2012
Address	Templeborough Works Sheffield Road, Tinsley, Sheffield, S9 1RT
Other Actions	View Director Report	View Consumer Report

Current Company Secretary

Name	Jon Paul Greenwood	Date of Birth	28/05/1966
Officers Title	Mr	Nationality	British
Present Appointments	14	Function	Company Secretary
Appointment Date	27/01/2000
Address	Templeborough Works, Sheffield Road,, Tinsley, Sheffield, South Yorkshire, S9 1RT

Previous Director/Company Secretaries

Name	Current Directorships	Previous Directorships
Michael George Wright	20	11
Ulrich Lessmann	2	2
Friedrich Teroerde	0	2
Tracy Pashley	7	9
Tracy Pashley	7	9
Anthony Ernest Ellis	4	5
Jeremy Gordon Edmiston	5	2
Douglas John McLellan	0	10
David Ness	3	8

NEGATIVE INFORMATION

Mortgage Summary

Total Mortgage 1

Outstanding 0

Satisfied 1

Trade Debtors / Bad Debt Summary

Total Number of Documented Trade 0

Total Value of Documented Trade £0

CCJ

Total Number of Exact CCJs -	0	Total Value of Exact CCJs -
Total Number of Possible CCJs -	0	Total Value of Possible CCJs -
Total Number of Satisfied CCJs -	0	Total Value of Satisfied CCJs -
Total Number of Writs -	-

Exact CCJ Details

No CCJs found

Possible CCJs Details

There are no possible CCJ details

Writ Details

No writs found

Mortgage Details

Mortgage Type:	LEGAL CHARGE
Date Charge Created:	23/09/99
Date Charge Registered:	30/09/99
Date Charge Satisfied:	08/09/10
Status:	SATISFIED
Person(s) Entitled:	DAVID JOHN STOKES AND MICHAEL JOSEPH MOORE
Amount Secured:
Details:	THE FREEHOLD PROPERTY KNOWN AS LAND ANDBUILDINGS THEREON AT WARDSEND ROAD, NORTH SHEFFIELD T/NO: SYK397255TOGETHER WITH ALL BUILDINGS FIXTURES (INCLUDING TRADE FIXTURES) FIXED PLANT ANDMACHINERY THEREON THE GOODWILL OF ANY BUSINESS CARRIED ON AT THE PROPERTY THE BENEFIT OF ANY LICENCES AND REGISTRATIONSREQUIRED IN THE RUNNING OF SUCH BUSINESS

SHARE & SHARE CAPITAL INFORMATION

Top 20 Shareholders

Name	Currency	Share Count	Share Type	Nominal Value	% of Total Share Count
ELG HANIEL GMBH	GBP	2,700,000	ORDINARY A	1	90
ELG HANIEL GMBH	GBP	300,000	ORDINARY B	1	10

PAYMENT INFORMATION

Average Invoice Value	£2233.99
Invoices available	28
Paid	24
Outstanding	4

Trade Payment Data is information that we collect from selected third party partners who send us information about their whole sales ledger.

	Within Terms	0-30 Days	31-60 Days	61-90 Days	91+ Days
Paid	7	8	5	3	1
Outstanding	1	0	0	2	1

GROUP STRUCTURE & AFFILIATED COMPANIES

Statistics

Group	265 companies
Linkages	138 companies
Countries	In 13 countries

Summary

Holding Company	-
Ownership Status	Intermediately Owned
Ultimate Holding Company	FRANZ HANIEL & CIE. GMBH

Group structure

Statistics

Group	265 companies
Linkages	138 companies
Countries	In 13 countries

Other Linked companies

Name	Number	Latest Key Financials	Turnover
ADMENTA ITALIA S.P.A.	BO405308	31.12.2012	€16,453,242
ADMENTA FRANCE	345277917	31.12.2012	€860,508
OCP	550200182	31.12.2012	€2,153,600
CENTRALE ADMINISTRATION BIENS IMMOBILI	712013655	31.12.2012	€16,955,853
OCP REPARTITION	388698201	31.12.2012	€6,314,917,712
HANIEL FINANCE B.V.	33286563	31.12.2013
GEHE MEDICA GMBH	HRB 14498	31.12.2007
MOVIANTO FRANCE	310644612	31.12.2012	€491,434,441
APOTHEKE DOCMORRIS HOLDING GMBH	HRB 157781 B	31.12.2008
VBM GRUNDSTÜCKS- UND PROJEKTENTWICKLUNGSGESELLSCHAFT AG	HRB 1347 B	31.12.2013
ALTIRO GMBH	HRB 18721	31.12.2007
CELESIO FINANCE B.V.	32097651	31.12.2013
GEHIS FRANCE	399092253	31.12.2012	€32,984,483
CWS-LIN B.V.	16045501	31.12.2013
FERINOX S A	642043277	31.12.2011	€220,618,404
FINANCIERE GESTION PARTICIPATION	682004643	31.12.2011	€42,000
INTEN GMBH	HRB 24777	31.12.2007
PHARMACTIV DISTRIBUTION	351984026	31.12.2012	€15,812,771
JEWOMETAAL STAINLESS PROCESSING B.V.	24128177	31.12.2012	€605,974,000
DEPOTRADE	383585148	31.12.2012	€24,468,877

FINANCIAL INFORMATION

Profit & Loss

Date Of Accounts	31/12/13	(%)	31/12/12	(%)	31/12/11	(%)	31/12/10	(%)	31/12/09
Weeks	52	(%)	52	(%)	52	(%)	52	(%)	52
Currency	GBP	(%)	GBP	(%)	GBP	(%)	GBP	(%)	GBP
Consolidated A/cs	N	(%)	N	(%)	N	(%)	N	(%)	N
Turnover	£185,991,980	-21.1%	£235,734,051	-29.3%	£333,261,678	7.8%	£309,033,732	70.2%	£181,606,044
Export	£89,405,744	2.3%	£87,367,782	-21%	£110,577,774	-3.7%	£114,823,259	65.6%	£69,319,327
Cost of Sales	£175,136,551	-21.2%	£222,331,025	-29.1%	£313,484,410	8.7%	£288,289,964	74%	£165,683,191
Gross Profit	£10,855,429	-19%	£13,403,026	-32.2%	£19,777,268	-4.7%	£20,743,768	30.3%	£15,922,853
Wages & Salaries	£8,038,720	-12.8%	£9,218,350	0.2%	£9,196,425	2.8%	£8,942,356	14.1%	£7,838,295
Directors Emoluments	£253,431	-68.7%	£808,517	-21.2%	£1,025,955	28.7%	£797,379	51.9%	£525,025
Operating Profit	£3,400,124	-24.2%	£4,483,258	-57.6%	£10,585,956	-12%	£12,024,993	45.7%	£8,255,241
Depreciation	£1,339,624	-5.2%	£1,413,234	5.8%	£1,336,068	8.3%	£1,234,143	-0.5%	£1,239,816
Audit Fees	£39,000	-	£39,000	2.6%	£38,000	-1%	£38,400	6.7%	£36,000
Interest Payments	£1,667,750	-30.4%	£2,396,826	-0.6%	£2,411,391	30.8%	£1,843,961	106.8%	£891,731
Pre Tax Profit	£1,810,666	-15.7%	£2,147,473	-74%	£8,246,808	-19.1%	£10,191,038	14.1%	£8,931,294
Taxation	-£424,810	-74%	-£244,092	87.3%	-£1,914,886	35%	-£2,945,500	-39%	-£2,119,448
Profit After Tax	£1,385,856	-27.2%	£1,903,381	-69.9%	£6,331,922	-12.6%	£7,245,538	6.4%	£6,811,846
Dividends Payable	-	-	-	-100%	£7,000,000	-41.7%	£12,000,000	140%	£5,000,000
Retained Profit	£1,385,856	-27.2%	£1,903,381	384.9%	-£668,078	85.9%	-£4,754,462	-362.4%	£1,811,846

Balance Sheet

Date Of Accounts	31/12/13	(%)	31/12/12	(%)	31/12/11	(%)	31/12/10	(%)	31/12/09
Tangible Assets	£11,063,630	-8.6%	£12,111,229	-27.1%	£16,618,618	14.6%	£14,499,219	-0.8%	£14,622,819
Intangible Assets	£11,794,314	-0.4%	£11,835,778	-0.3%	£11,868,294	0.1%	£11,859,293	0.6%	£11,790,632
Total Fixed Assets	£22,857,944	-4.5%	£23,947,007	-15.9%	£28,486,912	8.1%	£26,358,512	-0.2%	£26,413,451
Stock	£26,285,739	-45.2%	£47,963,804	34.2%	£35,741,486	-43.9%	£63,711,405	73%	£36,826,928
Trade Debtors	£14,673,877	-40.6%	£24,691,491	5.4%	£23,415,867	-5.9%	£24,870,899	34.7%	£18,463,138
Cash	£1,643	185.2%	£576	-	0	-	0	-	0
Other Debtors	£2,048,742	-60.6%	£5,197,605	55.2%	£3,348,225	-9%	£3,677,394	49.8%	£2,454,186
Miscellaneous Current Assets	£269,636	-53.9%	£585,311	-	0	-	0	-100%	£142,157
Total Current Assets	£43,279,637	-44.8%	£78,438,787	25.5%	£62,505,578	-32.3%	£92,259,698	59.4%	£57,886,409
Trade Creditors	£9,627,034	-23.1%	£12,511,723	-22.1%	£16,069,833	-9.7%	£17,790,470	28.3%	£13,862,006
Bank Loans & Overdrafts	£1,516,266	-45.8%	£2,797,489	38%	£2,027,595	-17.6%	£2,462,167	364.6%	£529,972
Other Short Term Finance	£35,088,434	-48%	£67,428,641	37.6%	£48,999,055	-33.5%	£73,699,904	77.1%	£41,609,866
Miscellaneous Current Liabilities	£1,097,734	-17.5%	£1,329,866	-45.6%	£2,443,747	-6.3%	£2,609,331	61.4%	£1,616,216
Total Current Liabilities	£47,329,468	-43.7%	£84,067,719	20.9%	£69,540,230	-28%	£96,561,872	67.6%	£57,618,060
Bank Loans & Overdrafts and LTL	£3,548,266	-11.1%	£3,990,497	0.2%	£3,981,595	-8.5%	£4,352,167	90%	£2,290,972
Other Long Term Finance	0	-	0	-	0	-	0	-	0
Total Long Term Liabilities	£2,032,000	70.3%	£1,193,008	-38.9%	£1,954,000	3.4%	£1,890,000	7.3%	£1,761,000

Capital & Reserves

Date Of Accounts	31/12/13	(%)	31/12/12	(%)	31/12/11	(%)	31/12/10	(%)	31/12/09
Called Up Share Capital	£3,000,000	-	£3,000,000	-	£3,000,000	-	£3,000,000	-	£3,000,000
P & L Account Reserve	£13,776,113	-2.5%	£14,125,067	-14.4%	£16,498,260	-3.9%	£17,166,338	-21.7%	£21,920,800
Revaluation Reserve	-	-	-	-	-	-	-	-	-
Sundry Reserves	-	-	-	-	-	-	-	-	-
Shareholder Funds	£16,776,113	-2%	£17,125,067	-12.2%	£19,498,260	-3.3%	£20,166,338	-19.1%	£24,920,800

Other Financial Items

Date Of Accounts	31/12/13	(%)	31/12/12	(%)	31/12/11	(%)	31/12/10	(%)	31/12/09
Net Worth	£4,981,799	-5.8%	£5,289,289	-30.7%	£7,629,966	-8.2%	£8,307,045	-36.7%	£13,130,168
Working Capital	-£4,049,831	28.1%	-£5,628,932	20%	-£7,034,652	-63.5%	-£4,302,174	-999.9%	£268,349
Total Assets	£66,137,581	-35.4%	£102,385,794	12.5%	£90,992,490	-23.3%	£118,618,210	40.7%	£84,299,860
Total Liabilities	£49,361,468	-42.1%	£85,260,727	19.3%	£71,494,230	-27.4%	£98,451,872	65.8%	£59,379,060
Net Assets	£16,776,113	-2%	£17,125,067	-12.2%	£19,498,260	-3.3%	£20,166,338	-19.1%	£24,920,800

Cash Flow

Date Of Accounts	31/12/13	(%)	31/12/12	(%)	31/12/11	(%)	31/12/10	(%)	31/12/09
Net Cashflow from Operations	£1,320,345	999.9%	£111,115	-98.9%	£10,003,593	-13.3%	£11,540,484	109.1%	£5,520,032
Net Cashflow before Financing	£1,282,290	266.7%	-£769,318	-110.3%	£7,434,572	-26.2%	£10,067,805	98.7%	£5,066,886
Net Cashflow from Financing	-	-	-	100%	-£7,000,000	41.7%	-£12,000,000	-140%	-£5,000,000
Increase in Cash	£1,282,290	266.7%	-£769,318	-277%	£434,572	122.5%	-£1,932,195	-999.9%	£66,886

Miscellaneous

Date Of Accounts	31/12/13	(%)	31/12/12	(%)	31/12/11	(%)	31/12/10	(%)	31/12/09
Contingent Liability	NO	-	NO	-	NO	-	NO	-	NO
Capital Employed	£18,808,113	2.7%	£18,318,075	-14.6%	£21,452,260	-2.7%	£22,056,338	-17.3%	£26,681,800
Number of Employees	213	-5.3%	225	2.3%	220	2.3%	215	3.4%	208
Auditors	HAWSONS
Auditor Comments	The audit report contains no adverse comments
Bankers	BARCLAYS BANK PLC
Bank Branch Code	20-76-89

Ratios

Date Of Accounts	31/12/13	31/12/12	31/12/11	31/12/10	31/12/09
Pre-tax profit margin %	0.97	0.91	2.47	3.30	4.92
Current ratio	0.91	0.93	0.90	0.96	1
Sales/Net Working Capital	-45.93	-41.88	-47.37	-71.83	676.75
Gearing %	21.20	23.30	20.40	21.60	9.20
Equity in %	30.90	18.90	24.60	18.90	34.40
Creditor Days	18.84	19.31	17.55	20.95	27.78
Debtor Days	28.71	38.12	25.57	29.29	37
Liquidity/Acid Test	0.35	0.36	0.38	0.29	0.36
Return On Capital Employed %	9.62	11.72	38.44	46.20	33.47
Return On Total Assets Employed %	2.73	2.09	9.06	8.59	10.59
Current Debt Ratio	2.82	4.90	3.56	4.78	2.31
Total Debt Ratio	2.94	4.97	3.66	4.88	2.38
Stock Turnover Ratio %	14.13	20.34	10.72	20.61	20.27
Return on Net Assets Employed %	10.79	12.53	42.29	50.53	35.83

FOREIGN EXCHANGE RATES

N/a

ADDITIONAL INFORMATION

Enquiries Trend

There have been 115 enquiries in the last 12 months.

There are an average of 10 reports taken each month.

Status History

No Status History found.

Event History

Date	Description
15/05/2014	New Accounts Filed
15/05/2014	New Accounts Filed
02/08/2013	Annual Returns
20/05/2013	New Accounts Filed
03/01/2013	Mr M.G. Wright has left the board
13/12/2012	New Board Member Mr M.A. Vaughan appointed
04/08/2012	Annual Returns
02/08/2012	Mr J.G. Edmiston has left the board
22/05/2012	New Accounts Filed
22/05/2012	New Accounts Filed
26/09/2011	New Board Member Mr J.P. Greenwood appointed
10/08/2011	Annual Returns
31/05/2011	New Accounts Filed
31/05/2011	New Accounts Filed
06/08/2010	Annual Returns

Previous Company Names

Date	Previous Name
12/01/1987	E.L.G. METALS LIMITED
31/12/1981	CLOISTERS ENGINEERING LIMITED

NOTES & COMMENTS

Commentary

No exact match CCJs are recorded against the company.

Sales in the latest trading period decreased 21.1% on the previous trading period.

Net Worth decreased by 5.8% during the latest trading period.

A 35.4% decline in Total Assets occurred during the latest trading period.

Pre-tax profits decreased by 15.7% compared to the previous trading period.

The company saw an increase in their Cash Balance of 185.2% during the latest trading period.

The audit report contains no adverse comments.

No recent changes in directorship are recorded.

The company is part of a group.

The company was established over 33 years ago.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.60.22
UK Pound	1	Rs.102.79
Euro	1	Rs.81.95

INFORMATION DETAILS

Analysis Done by :	RAS
Report Prepared by :	NNA

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.