MIRA INFORM REPORT

 

 

Report Date :

09.05.2014

 

IDENTIFICATION DETAILS

 

Name :

RUHRPUMPEN GESELLSCHAFT MIT BESCHRÄNKTER HAFTUNG

 

 

Registered Office :

Stockumer Str. 28, D 58453 Witten, Post Box 63 09, D 58432 Witten

 

 

Country :

Germany

 

 

Financials (as on) :

31.12.2012

 

 

Year of Establishment :

1950

 

 

Com. Reg. No.:

HRB 8871

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Manufacturer of pumps and compressors

 

Subject Product ranges includes:-

·         Overhung Pumps

Magnetic Driven Pumps

Between Bearing Pumps

Vertical Pumps

Decoking

Fire Pumps

 

 

No of Employees :

280

 

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)

Germany

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderate Low Risk

 

B1

Moderate Risk

 

B2

Moderate 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

 

 

Company name

 

Ruhrpumpen Gesellschaft mit beschränkter Haftung

 

 

Company address

 

Stockumer Str. 28

D 58453 Witten

Post Box 63 09, D 58432 Witten

Telephone:        02302/66103

Telefax:             02302/661303

Homepage:        www.ruhrpumpen.de

E-mail:              info@ruhrpumpen.de

 

 

Company Status

 

active

 

VAT no

 

DE811153189

 

 

Tax ID number

 

348/5824/1322

 

CONCLUSION

 

Business relations are permissible.

 

 

Synthesis

 

LEGAL FORM               Private limited company

Date of foundation:         1950

Begin of business

activities:                       1950

Registered on:               25.02.1950

Commercial Register:     Local court 44787 Bochum

under:                                       HRB 8871

Share capital:                 EUR          5,000,000.00

 

 

Shareholder

 

Corporacion E.G. S.A. de C.V.

Niquel 9204 Cd. Industrial

Mitras

MEX 6600 Garcia N.L.

Legal form: Other legal form

Share:             EUR          5,000,000.00

 

Manager

 

Cesar Augusto Elizondo Garza

Arquimioes 213

MEX - Col. Residential Chipinque

born: 04.12.1957 in Monterrey

Profession: Engineer

Nationality: Mexican

 

Manager:

Jose Aquiles Elizondo Garza

Vewecia 219

MEX - CG. San Patricio

born: 11.11.1958 in Monterrey

Profession: Businessman

Nationality: Mexican

 

Manager:

Dr. Wolfgang Paul

D 23611 Bad Schwartau

born: 10.08.1955 in Colbitz

 

Manager:

Stephan Frieds

D 23911 Buchholz

born: 06.01.1965 in Nordkirchen

Proxy

 

Christian Henkel

D 45721 Haltern am See

authorized to jointly represent the company

born: 08.11.1964 in Iserlohn

 

 

RESIGNED ACTING PERSONS AND SHAREHOLDERS

 

 18.03.2010 - 02.10.2013            Manager

                          Gregory Jacobowitz

                          D 40472 Ratingen

 

 

BUSINESS ACTIVITIES

 

Main industrial sector

 2813    Manufacturer of pumps and compressors n.e.c.

 

Subject Product ranges includes:-

·         Overhung Pumps

Magnetic Driven Pumps

Between Bearing Pumps

Vertical Pumps

Decoking

Fire Pumps

 

 

FINANCIAL INFORMATION

 

Payment experience:     cash discount/within agreed terms

Negative information:      We have no negative information at hand.

Balance sheet year:       2012

 

 

REAL ESTATE

 

 Type of ownership:        proprietor

 Share:                          100.00 %

 Address                       Stockumer Str. 28

                                    D 58453 Witten

 Size:                            48,183.00 sq.m

 

Land register documents were not available.

 

 

BANKERS

 

COMMERZBANK, 58452 WITTEN

Sort. code: 45240056, Account no.: 788023000

BIC: COBADEFF452, IBAN: DE65452400560788023000

 

DEUTSCHE BANK, 58403 WITTEN

Sort. code: 43070061, Account no.: 8353740

BIC: DEUTDEDE430, IBAN: DE51430700610835374000

 

SPARKASSE DORTMUND, 44047 DORTMUND

Sort. code: 44050199, Account no.: 001210530

BIC: DORTDE33XXX, IBAN: DE41440501990001210530

 

 

FINANCIAL FIGURES

 

 Turnover:            2012               EUR         83,049,396.00

                      2013               EUR         82,000,000.00

 Profit:              2012               EUR          6,973,717.00

 further business figures:

 Ac/ts receivable:                       EUR         37,648,463.00

 Liabilities:                            EUR         17,474,857.00

 Total numbers of vehicles:                                      5

 - Passenger cars:                                               5

 Employees:                                                    280

 

BALANCE SHEETS

 

 Balance sheet ratios 01.01.2012 - 31.12.2012

 Equity ratio [%]:                 50.67

 Liquidity ratio:                   3.99

 Return on total capital [%]:      10.50

 

 Balance sheet ratios 01.01.2011 - 31.12.2011

 Equity ratio [%]:                 53.84

 Liquidity ratio:                  10.00

 Return on total capital [%]:      15.56

 

 Balance sheet ratios 01.01.2010 - 31.12.2010

 Equity ratio [%]:                 55.03

 Liquidity ratio:                  10.00

 Return on total capital [%]:      19.26

 

 Balance sheet ratios 01.01.2009 - 31.12.2009

 Equity ratio [%]:                 49.05

 Liquidity ratio:                  10.00

 Return on total capital [%]:      28.09

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         66,673,615.00

  Fixed assets                           EUR         20,909,458.00

   Intangible assets                     EUR            460,451.00

    Other / unspecified intangible assetsEUR            460,451.00

   Tangible assets                       EUR          9,285,916.00

    Other / unspecified tangible assets  EUR          9,285,916.00

   Financial assets                      EUR         11,163,091.00

    Other / unspecified financial assets EUR         11,163,091.00

  Current assets                         EUR         45,729,837.00

   Stocks                                EUR            365,666.00

    Finished goods / work in progress    EUR         17,470,336.00

    Advance payments made                EUR          2,944,835.00

    Minus received advance payments for

    orders / installments for stocks     EUR        -20,049,505.00

   Accounts receivable                   EUR         37,648,463.00

    Trade debtors                        EUR         30,689,060.00

    Amounts due from related companies   EUR          5,511,043.00

    Other debtors and assets             EUR          1,448,360.00

   Liquid means                          EUR          7,715,708.00

  Remaining other assets                 EUR             34,320.00

   Accruals (assets)                     EUR             34,320.00

 

 LIABILITIES                             EUR         66,673,615.00

  Shareholders' equity                   EUR         33,507,611.00

   Capital                               EUR          5,000,000.00

    Subscribed capital (share capital)   EUR          5,000,000.00

   Balance sheet profit/loss (+/-)       EUR         28,507,611.00

    Profit / loss brought forward        EUR         21,533,894.00

    Annual surplus / annual deficit      EUR          6,973,717.00

  Items between shareholders' equity and

  debt capital                           EUR            130,567.00

   Allowances / bonuses                  EUR            130,567.00

  Provisions                             EUR         15,045,780.00

   Pension provisions and comparable

   provisions                            EUR          1,966,952.00

   Provisions for taxes                  EUR          2,619,763.00

   Other / unspecified provisions        EUR         10,459,065.00

  Liabilities                            EUR         17,474,857.00

   thereof total due to shareholders     EUR            325,500.00

   Financial debts                       EUR            412,500.00

    Liabilities due to banks             EUR            412,500.00

   Other liabilities                     EUR         17,062,357.00

    Trade creditors (for IAS incl. bills

    of exchange)                         EUR          8,367,108.00

    Liabililties due to related companiesEUR          7,916,627.00

    Unspecified other liabilities        EUR            778,622.00

     thereof liabilities from tax /

     financial authorities               EUR            258,195.00

     thereof liabilities from social

     security                            EUR             36,086.00

  Other liabilities                      EUR            514,800.00

   Deferrals (liabilities)               EUR            514,800.00

 

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

 Code (HGB)

  Sales                                  EUR         83,049,396.00

  Inventory change + own costs (+/-)     EUR          5,656,044.00

   Inventory change (+/-)                EUR          5,656,044.00

  Other operating income                 EUR          2,236,738.00

  Cost of materials                      EUR         42,907,457.00

   Raw materials and supplies, purchased

   goods                                 EUR         38,286,920.00

   Purchased services                    EUR          4,620,537.00

  Gross result (+/-)                     EUR         48,034,721.00

  Staff expenses                         EUR         19,183,201.00

   Wages and salaries                    EUR         16,445,118.00

   Social security contributions and

   expenses for pension plans and

   benefits                              EUR          2,738,083.00

  Total depreciation                     EUR          1,278,608.00

   Depreciation on tangible / intangible

   asssets (incl. start-up and exp. of

   bus.                                  EUR          1,278,608.00

  Other operating expenses               EUR         16,986,590.00

  Operating result from continuing

  operations                             EUR         10,586,322.00

  Interest result (+/-)                  EUR           -132,176.00

   Interest and similar income           EUR             28,003.00

   Interest and similar expenses         EUR            160,179.00

  Financial result (+/-)                 EUR           -132,176.00

  Result from ordinary operations (+/-)  EUR         10,454,146.00

  Income tax / refund of income tax (+/-)EUR         -3,464,350.00

  Other taxes / refund of taxes          EUR            -16,079.00

  Tax (+/-)                              EUR         -3,480,429.00

  Annual surplus / annual deficit        EUR          6,973,717.00

 

 Type of balance

 sheet:               Company balance sheet

 

 Financial year:      01.01.2011 - 31.12.2011

 

 ASSETS                                  EUR         49,783,841.00

  Fixed assets                           EUR         10,442,651.00

   Intangible assets                     EUR            576,785.00

    Other / unspecified intangible assetsEUR            576,785.00

   Tangible assets                       EUR          7,919,122.00

    Other / unspecified tangible assets  EUR          7,919,122.00

   Financial assets                      EUR          1,946,744.00

    Other / unspecified financial assets EUR          1,946,744.00

  Current assets                         EUR         39,281,130.00

   Stocks                                EUR          8,698,083.00

    Finished goods / work in progress    EUR         11,813,334.00

    Advance payments made                EUR          1,523,458.00

    Minus received advance payments for

    orders / installments for stocks     EUR         -4,638,709.00

   Accounts receivable                   EUR         20,358,667.00

    Trade debtors                        EUR         17,112,953.00

    Amounts due from related companies   EUR          2,576,316.00

    Other debtors and assets             EUR            669,398.00

   Liquid means                          EUR         10,224,380.00

  Remaining other assets                 EUR             60,060.00

   Accruals (assets)                     EUR             60,060.00

 

 LIABILITIES                             EUR         49,783,841.00

  Shareholders' equity                   EUR         26,533,894.00

   Capital                               EUR          5,000,000.00

    Subscribed capital (share capital)   EUR          5,000,000.00

   Balance sheet profit/loss (+/-)       EUR         21,533,894.00

    Profit / loss brought forward        EUR         13,834,420.00

    Annual surplus / annual deficit      EUR          7,699,474.00

  Items between shareholders' equity and

  debt capital                           EUR            151,790.00

   Allowances / bonuses                  EUR            151,790.00

  Provisions                             EUR         12,895,791.00

   Pension provisions and comparable

   provisions                            EUR          1,777,718.00

   Provisions for taxes                  EUR            942,257.00

   Other / unspecified provisions        EUR         10,175,816.00

  Liabilities                            EUR          9,658,966.00

   thereof total due to shareholders     EUR            325,500.00

   Financial debts                       EUR            562,500.00

    Liabilities due to banks             EUR            562,500.00

   Other liabilities                     EUR          9,096,466.00

    Trade creditors (for IAS incl. bills

    of exchange)                         EUR          8,193,160.00

    Liabililties due to related companiesEUR            399,752.00

    Unspecified other liabilities        EUR            503,554.00

     thereof liabilities from social

     security                            EUR             36,013.00

  Other liabilities                      EUR            543,400.00

   Deferrals (liabilities)               EUR            543,400.00

 

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

 Code (HGB)

  Sales                                  EUR         87,420,068.00

  Inventory change + own costs (+/-)     EUR         -2,328,630.00

   Inventory change (+/-)                EUR         -2,328,630.00

  Other operating income                 EUR          2,834,480.00

  Cost of materials                      EUR         41,683,633.00

   Raw materials and supplies, purchased

   goods                                 EUR         37,730,607.00

   Purchased services                    EUR          3,953,026.00

  Gross result (+/-)                     EUR         46,242,285.00

  Staff expenses                         EUR         18,568,968.00

   Wages and salaries                    EUR         15,863,073.00

   Social security contributions and

   expenses for pension plans and

   benefits                              EUR          2,705,895.00

  Total depreciation                     EUR          1,148,321.00

   Depreciation on tangible / intangible

   asssets (incl. start-up and exp. of

   bus.                                  EUR          1,148,321.00

  Other operating expenses               EUR         14,946,695.00

  Operating result from continuing

  operations                             EUR         11,578,301.00

  Interest result (+/-)                  EUR           -100,930.00

   Interest and similar income           EUR            109,628.00

   Interest and similar expenses         EUR            210,558.00

  Financial result (+/-)                 EUR           -100,930.00

  Result from ordinary operations (+/-)  EUR         11,477,371.00

  Income tax / refund of income tax (+/-)EUR         -3,750,419.00

  Other taxes / refund of taxes          EUR            -27,478.00

  Tax (+/-)                              EUR         -3,777,897.00

  Annual surplus / annual deficit        EUR          7,699,474.00

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.59.99

UK Pound

1

Rs.101.75

Euro

1

Rs.83.48

 

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

MNL

 

 

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.