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Report Date : |
28.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
WITEC WISSENSCHAFTLICHE INSTRUMENTE UND TECHNOLOGIE GMBH |
|
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|
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Registered Office : |
Lise-Meitner-Str. 6, D 89081 Ulm |
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|
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Country : |
Germany |
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|
|
|
Financials (as on) : |
31.12.2012 |
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|
|
Date of Incorporation : |
1997 |
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|
|
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Com. Reg. No.: |
HRB 3507 |
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Legal Form : |
Private limited company |
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|
|
|
Line of Business : |
·
Manufacture
of instruments and appliances for measuring, testing and navigation ·
Other
research and experimental development on natural sciences and engineering |
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|
|
No. of Employees : |
36 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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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) |
|
Germany |
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 |
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 |
WITEC WISSENSCHAFTLICHE INSTRUMENTE UND TECHNOLOGIE
GMBH
Company Status: active
Lise-Meitner-Str. 6
D 89081 Ulm
Telephone:0731/140700
Telefax: 0731/14070200
Homepage: www.witec.de
E-mail: info@witec.de
VAT no.: DE188355605
Business relations are permissible.
LEGAL FORM Private limited company
Date of foundation: 1997
Shareholders'
agreement: 20.06.1997
Registered on: 20.08.1997
Commercial Register: Local court 89073 Ulm
under: HRB
3507
Share capital: EUR 26,075.88
Shareholder:
Dr. Joachim Koenen
Pfahläckerweg 22
D 89081 Ulm
born: 12.07.1960
Share: EUR 8,691.96
Shareholder:
Dr. Olaf Hollrichter
Narzissenweg 31
D 89233 Neu-Ulm
born: 15.09.1962
Share: EUR 8,691.96
Shareholder:
Dr. Klaus Weishaupt
Schubartstr. 17
D 89134 Blaustein
born: 20.12.1964
Share: EUR 8,691.96
Manager:
Dr. Joachim Koenen
Pfahläckerweg 22
D 89081 Ulm
having sole
power of representation
born: 12.07.1960
Profession: Fully
qualified physicist
Property regime:
Separation of property
Marital status: married
Manager:
Dr. Olaf Hollrichter
Narzissenweg 31
D 89233 Neu-Ulm
having sole power of
representation
born: 15.09.1962
Profession: Fully
qualified physicist
Property regime:
Separation of property
Marital status: married
Manager:
Dr. Klaus Weishaupt
Schubartstr. 17
D 89134 Blaustein
having sole power of
representation
born: 20.12.1964
Profession: Fully
qualified physicist
Marital status: divorced
Proxy:
Thomas Hartinger
D 73312 Geislingen
having sole power of
representation
born: 29.04.1960
Proxy:
Dr. Jan Toporski
D 89081 Ulm
having sole power of
representation
born: 17.10.1966
Further
functions/participations of Dr. Joachim Koenen (Manager)
Limited
partner:
LM6 GmbH & Co. KG
Hörvelsinger Weg 6
D 89081 Ulm
Legal form: Ltd
partnership with priv. ltd.
company as
general partner
Total cap. EUR 25,500.00
contribution:
Share: EUR 8,500.00
Registered
on: 24.07.2007
Reg. data: 89073 Ulm, HRA 720614
Shareholder:
LM6
Verwaltungsgesellschaft mbH
Hörvelsinger Weg 6
D 89081 Ulm
Legal form: Private
limited company
Share capital: EUR 25,500.00
Share: EUR 8,500.00
Registered
on: 24.07.2007
Reg. data: 89073 Ulm, HRB 721218
Manager:
LM6
Verwaltungsgesellschaft mbH
Hörvelsinger Weg 6
D 89081 Ulm
Legal form: Private
limited company
Share capital: EUR 25,500.00
Registered
on: 24.07.2007
Reg. data:
89073 Ulm, HRB 721218
Further
functions/participations of Dr. Olaf Hollrichter (Manager)
Limited
partner:
LM6 GmbH & Co. KG
Hörvelsinger Weg 6
D 89081 Ulm
Legal form: Ltd partnership with priv.
ltd.
company as
general partner
Total cap. EUR 25,500.00
contribution:
Share: EUR 8,500.00
Registered
on: 24.07.2007
Reg. data: 89073 Ulm, HRA 720614
Shareholder:
LM6
Verwaltungsgesellschaft mbH
Hörvelsinger Weg 6
D 89081 Ulm
Legal form: Private
limited company
Share capital: EUR 25,500.00
Share: EUR 8,500.00
Registered
on: 24.07.2007
Reg. data: 89073 Ulm, HRB 721218
Manager:
LM6
Verwaltungsgesellschaft mbH
Hörvelsinger Weg 6
D 89081 Ulm
Legal form: Private
limited company
Share capital: EUR 25,500.00
Registered
on: 24.07.2007
Reg. data: 89073 Ulm, HRB 721218
Further
functions/participations of Dr. Klaus Weishaupt (Manager)
Limited
partner:
LM6 GmbH & Co. KG
Hörvelsinger Weg 6
D 89081 Ulm
Legal form: Ltd
partnership with priv. ltd.
company as
general partner
Total cap. EUR 25,500.00
contribution:
Share: EUR 8,500.00
Registered
on: 24.07.2007
Reg. data: 89073 Ulm, HRA 720614
Shareholder:
LM6
Verwaltungsgesellschaft mbH
Hörvelsinger Weg 6
D 89081 Ulm
Legal form: Private
limited company
Share capital: EUR 25,500.00
Share: EUR 8,500.00
Registered
on: 24.07.2007
Reg. data: 89073 Ulm, HRB 721218
Manager:
LM6
Verwaltungsgesellschaft mbH
Hörvelsinger Weg 6
D 89081 Ulm
Legal form: Private limited company
Share capital: EUR 25,500.00
Registered
on: 24.07.2007
Reg. data: 89073 Ulm, HRB 721218
Main
industrial sector
2651
Manufacture of instruments and appliances for measuring, testing and
navigation
7219
Other research and experimental development on natural sciences and engineering
Secondary
industrial sector
7490
Other professional, scientific and technical activities n. e. c.
Shareholder:
omt-optische messtechnik
GmbH
Hörvelsinger Weg 6
D 89081 Ulm
Legal form: Private
limited company
Company Status: insolvent
since: 18.10.2013
Share capital: EUR 50,000.00
Share: EUR 25,500.00
Reg. data: 10.11.1999
Local court
89073 Ulm
HRB 3962
Payment experience: within
agreed terms
Negative information: We have no negative information at hand.
Balance sheet year: 2012
Type of ownership: Tenant
Address Lise-Meitner-Str. 6
D 89081 Ulm
Land register documents were not available.
POSTBANK, 70148 STUTTGART
Sort. code: 60010070
BIC: PBNKDEFFXXX
Gross profit or loss: 2012
EUR 5,500,621.00
Profit: 2012 EUR -912,579.00
Equipment: EUR 230,645.00
Ac/ts receivable: EUR
2,247,467.00
Liabilities: EUR 3,081,309.00
Employees:
36
- thereof permanent staff: 36
Balance sheet ratios 01.01.2012 - 31.12.2012
Equity ratio [%]: 39.35
Liquidity ratio: 1.01
Return on total capital [%]: -15.55
Balance sheet ratios 01.01.2011 - 31.12.2011
Equity ratio [%]: 55.07
Liquidity ratio: 1.28
Return on total capital [%]: 10.77
Balance sheet ratios 01.01.2010 - 31.12.2010
Equity ratio [%]: 53.65
Liquidity ratio: 1.48
Return on total capital [%]: 10.52
Balance sheet ratios 01.01.2009 - 31.12.2009
Equity ratio [%]: 53.97
Liquidity ratio: 2.06
Return on total capital [%]: 16.57
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 5,873,035.52
Fixed assets
EUR 594,918.56
Intangible assets
EUR 10,630.00
Other / unspecified intangible assetsEUR 10,630.00
Tangible assets
EUR 533,112.50
Plant / machinery
EUR 302,468.00
Other tangible assets / fixtures and
fittings
EUR 230,644.50
Financial assets
EUR 51,176.06
Shares in participations /
subsidiaries and the like
EUR 51,176.06
Shares in related companies
EUR 51,176.06
Current assets EUR 5,227,745.27
Stocks
EUR 2,846,567.11
Raw materials, consumables and
supplies
EUR 1,731,010.01
Finished goods / work in progress
EUR 1,115,557.10
Accounts receivable
EUR 2,247,466.76
Trade debtors
EUR 807,030.07
Amounts due from related companies
EUR 995,028.87
Other debtors and assets EUR 445,407.82
Liquid means
EUR 133,711.40
Remaining other assets
EUR 50,371.69
Accruals (assets)
EUR 50,371.69
LIABILITIES EUR 5,873,035.52
Shareholders' equity
EUR 1,598,815.51
Capital
EUR 26,075.88
Subscribed capital (share capital)
EUR 26,075.88
Balance sheet profit/loss (+/-)
EUR 1,572,739.63
Profit / loss brought forward
EUR 2,485,318.18
Annual surplus / annual deficit
EUR -912,578.55
Provisions
EUR 1,049,792.52
Liabilities
EUR 3,081,308.99
Financial debts
EUR 869,042.72
Liabilities due to banks
EUR 869,042.72
Other liabilities
EUR 2,212,266.27
Trade creditors (for IAS incl. bills
of exchange)
EUR 824,234.63
Liabilities from received advance
payments
EUR 316,542.00
Liabililties due to related companiesEUR 6,862.81
Unspecified other liabilities
EUR 1,064,626.83
Other liabilities
EUR 143,118.50
Deferrals (liabilities)
EUR 143,118.50
PROFIT AND
LOSS ACCOUNT (cost-summary method) according to Comm. Code (HGB)
Gross result (+/-)
EUR 5,500,621.47
Staff expenses
EUR 3,255,337.66
Wages and salaries
EUR 2,824,607.29
Social security contributions and
expenses for pension plans and
benefits
EUR 430,730.37
Total depreciation
EUR 136,212.25
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 130,818.47
Depreciation on current assets (+/-)
EUR 5,393.78
Other operating expenses
EUR 2,927,308.49
Operating result from continuing
operations
EUR -818,236.93
Interest result (+/-)
EUR -128,925.15
Interest and similar income
EUR 32,583.37
thereof
from related companies EUR 7,155.81
Interest and similar expenses
EUR 161,508.52
Financial result (+/-)
EUR -128,925.15
Result from ordinary operations (+/-)
EUR -947,162.08
Income tax / refund of income tax (+/-)EUR 38,059.53
Other taxes / refund of taxes
EUR -3,476.00
Tax (+/-)
EUR 34,583.53
Annual surplus / annual deficit
EUR -912,578.55
Type of
balance sheet: Company
balance sheet
Financial
year: 01.01.2011 - 31.12.2011
ASSETS EUR 5,849,609.95
Fixed assets
EUR 607,304.06
Intangible assets
EUR 19,470.50
Other / unspecified intangible assetsEUR 19,470.50
Tangible assets
EUR 536,657.50
Plant / machinery
EUR 330,398.00
Other tangible assets / fixtures and
fittings
EUR 206,259.50
Financial assets
EUR 51,176.06
Shares in participations /
subsidiaries and the like EUR 51,176.06
Shares in related companies
EUR 51,176.06
Current assets
EUR 5,161,904.69
Stocks
EUR 2,631,757.72
Accounts
receivable EUR 2,475,322.69
Amounts due from related companies
EUR 34,333.64
Other debtors and assets
EUR 2,440,989.05
Liquid means
EUR 54,824.28
Remaining other assets
EUR 80,401.20
Accruals (assets)
EUR 80,401.20
LIABILITIES EUR 5,849,609.95
Shareholders' equity
EUR 2,511,394.06
Capital
EUR 26,075.88
Subscribed capital (share capital)
EUR 26,075.88
Balance sheet profit/loss (+/-)
EUR 2,485,318.18
Profit / loss brought forward
EUR 1,856,649.16
Annual surplus / annual deficit
EUR 628,669.02
Provisions
EUR 624,692.11
Pension provisions and comparable
provisions
EUR 130,186.00
Provisions for taxes
EUR 8,612.02
Other / unspecified provisions
EUR 485,894.09
Liabilities
EUR 2,705,523.78
thereof total due to shareholders
EUR 714,169.08
Financial debts
EUR 1,023,493.38
Liabilities due to banks
EUR 1,023,493.38
Other liabilities
EUR 1,682,030.40
Trade creditors (for IAS incl. bills
of exchange)
EUR 456,147.68
Liabilities from received advance
payments
EUR 265,000.00
Unspecified other liabilities
EUR 960,882.72
thereof liabilities from tax /
financial authorities
EUR 44,803.82
thereof liabilities from social
security
EUR 11,393.07
Other liabilities
EUR 8,000.00
Deferrals (liabilities)
EUR 8,000.00
PROFIT AND
LOSS ACCOUNT (cost-summary method) according to Comm. Code (HGB)
Gross result (+/-)
EUR 6,610,762.47
Staff expenses EUR 3,135,612.58
Wages and salaries
EUR 2,755,945.97
Social security contributions and
expenses for pension plans and
benefits
EUR 379,666.61
Total depreciation
EUR 192,993.51
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 116,397.62
Depreciation on current assets (+/-)
EUR 76,595.89
Other operating expenses
EUR 2,122,607.23
Operating result from continuing
operations
EUR 1,159,549.15
Interest result (+/-)
EUR -98,226.33
Interest and similar income
EUR 31,663.22
Interest and similar expenses
EUR 129,889.55
Other financial result
EUR -130,495.23
Depreciation on financial assets and
marketable securities
EUR 130,495.23
Financial result (+/-)
EUR -228,721.56
Result from ordinary operations (+/-)
EUR 930,827.59
Income tax / refund of income tax (+/-)EUR -298,599.93
Other
taxes / refund of taxes EUR -3,558.64
Tax (+/-)
EUR -302,158.57
Annual surplus / annual deficit
EUR 628,669.02
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.10 |
|
|
1 |
Rs.102.40 |
|
Euro |
1 |
Rs.81.88 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.