MIRA INFORM REPORT

 

 

Report Date :

16.05.2014

 

IDENTIFICATION DETAILS

 

Name :

ALFRED GALKE GMBH

 

 

Registered Office :

Am Bahnhof 1, Flecken Gittelde, D 37539 Bad Grund, Post Box 11 20,  Gittelde

 

 

Country :

Germany

 

 

Financials (as on) :

31.12.2012

 

 

Date of Incorporation :

18.04.1979

 

 

Com. Reg. No.:

HRB 130790

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Wholesaler of coffee, tea, cocoa and spices

 

 

No of Employees :

64

 

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

 

Alfred Galke GmbH

 

COMPANY ADDRESS

 

Am Bahnhof 1

Flecken Gittelde

D 37539 Bad Grund

Post Box: 11 20,  Gittelde

Telephone:        05327/8681-0

Telefax:            05327/8681-20

Homepage:       www.galke.com

E-mail:              info@galke.com

 

 

Company Status

 

active

 

 

VAT no

 

DE115898293

 

 

CONCLUSION

 

Business relations are permissible.

 

 

SYNTHESiS

 

LEGAL FORM               Private limited company

Date of foundation:       1979

Shareholders'

agreement:                    19.02.1979

Registered on:              18.04.1979

Commercial Register:    Local court 37073 Göttingen

under:                                       HRB 130790

Share capital:                 EUR            100,000.00

 

Shareholder

 

Gatec GmbH & Co. KG

Am Bahnhof 1

D 37539 Bad Grund

Legal form: Ltd partnership with priv. ltd.

company as general partner

Total cap.         EUR            150,000.00

contribution:

Share:             EUR            100,000.00

Registered on: 12.06.2003

Reg. data: 37073 Göttingen, HRA 130434

 

 

Manager

 

Hartmut Galke

Am Bahnhof 5

D 37539 Bad Grund

having sole power of representation

born: 11.01.1963

Profession: Fully qualified management

expert

Marital status: unknown

 

Proxy

 

Erika Galke

D 37539 Bad Grund

having sole power of representation

born: 15.05.1936

née: Gundelach

Profession: Businessman

Property regime: Statutory matrimonial

property regime

Marital status: married

 

Proxy:

                      Alfred Galke

                      D 37539 Bad Grund

                      having sole power of representation

                      born: 22.04.1929

                      Profession: Businessman

                      Property regime: Statutory matrimonial

                      property regime

                      Marital status: married

Proxy:

                      Katrin Galke

                      Am Bahnhof 5

                      D 37539 Bad Grund

                      having sole power of representation

                      born: 05.06.1963

                      Profession: Businessman

                      Marital status: unknown

 

Further functions/participations of Hartmut Galke (Manager)

 

 Limited partner:

                      Gatec GmbH & Co. KG

                      Am Bahnhof 1

                      D 37539 Bad Grund

                      Legal form: Ltd partnership with priv. ltd.

                                  company as general partner

                      Total cap.         EUR            150,000.00

                      contribution:

                      Share:             EUR            150,000.00

                      Registered

                      on:         12.06.2003

                      Reg. data:  37073 Göttingen, HRA 130434

 Shareholder:

                      GG-Grundstücks-GmbH

                      Am Bahnhof 1-5

                      D 37539 Bad Grund

                      Legal form: Private limited company

                      Share capital:     EUR             25,000.00

                      Share:             EUR             25,000.00

                      Registered

                      on:         04.05.2004

                      Reg. data:  37073 Göttingen, HRB 130677

 Manager:

                      Gatec Geschäftsführungs-GmbH

                      Am Bahnhof 1-5

                      D 37539 Bad Grund

                      Legal form: Private limited company

                      Share capital:     EUR             25,000.00

                      Registered

                      on:         20.02.2003

                      Reg. data:  37073 Göttingen, HRB 130593

 Manager:

                      GG-Grundstücks-GmbH

                      Am Bahnhof 1-5

                      D 37539 Bad Grund

                      Legal form: Private limited company

                      Share capital:     EUR             25,000.00

                      Registered

                      on:         04.05.2004

                      Reg. data:  37073 Göttingen, HRB 130677

 

COMPANY HISTORY

 

 18.04.1979 - 10.01.2014  Alfred Galke GmbH

                          Am Bahnhof 1-5

                          D 37534 Gittelde

                          Private limited company

 

 

RESIGNED ACTING PERSONS AND SHAREHOLDERS

 

 09.12.2008 - 02.08.2011  Manager

                          Alfred Galke

                          D 37539 Bad Grund

 

 

BUSINESS ACTIVITIES

 

Main industrial sector

·         4637    Wholesaler of coffee, tea, cocoa and spices

·         4676    Wholesaler of other intermediate goods

 

 

BRANCHES AND FACTORIES

 

Works:

Alfred Galke GmbH

Neustadt 6

D 37539 Bad Grund

 

 

FINANCIAL INFORMATION

 

Payment experience:     within agreed terms

Negative information:    We have no negative information at hand.

Balance sheet year:       2012

 

REAL ESTATE

 

Type of ownership:        Tenant

 Address                       Am Bahnhof 1 Flecken Gittelde

                                    D 37539 Bad Grund

 

 Real Estate of:             Gatec GmbH & Co. KG

 Type of ownership:       Tenant

 Address                       Am Bahnhof 1

                                    D 37539 Bad Grund

 

 Real Estate of:             Hartmut Galke

 Type of ownership:       Tenant

 Address                       Am Bahnhof 5

                                    D 37539 Bad Grund

 

Land register documents were not available.

 

 

BANKERS

 

SPARKASSE OSTERODE AM HARZ, 37534 GITTELDE

Sort. code: 26351015, Account no.: 8004939

BIC: NOLADE21HZB, IBAN: DE65263510150008004939

 

VOLKSBANK, 38723 SEESEN, HARZ

Sort. code: 27893760, Account no.: 1058830201

BIC: GENODEF1SES, IBAN: DE87278937601058830201

 

POSTBANK, 30139 HANNOVER

Sort. code: 25010030, Account no.: 28627300

BIC: PBNKDEFFXXX, IBAN: DE28250100300028627300

 

 

FINANCIAL FIGURES

 

 Gross profit or loss:2012               EUR          5,926,152.00

                      2013               EUR          5,900,000.00

 Profit:              2012               EUR            938,304.00

 further business figures:

 Equipment:                              EUR            294,683.00

 Ac/ts receivable:                       EUR          1,158,098.00

 Liabilities:                            EUR          1,195,271.00

 Employees:                                                     64

 - thereof permanent staff:                                     63

 - Part-time employees:                                          1

 

 

BALANCE SHEETS

 

 Balance sheet ratios 01.01.2012 - 31.12.2012

 Equity ratio [%]:                 77.02

 Liquidity ratio:                   0.97

 Return on total capital [%]:      13.65

 

 Balance sheet ratios 01.01.2011 - 31.12.2011

 Equity ratio [%]:                 75.47

 Liquidity ratio:                   0.80

 Return on total capital [%]:       9.92

 

 Balance sheet ratios 01.01.2010 - 31.12.2010

 Equity ratio [%]:                 72.95

 Liquidity ratio:                   0.72

 Return on total capital [%]:      10.28

 

 Balance sheet ratios 01.01.2009 - 31.12.2009

 Equity ratio [%]:                 65.19

 Liquidity ratio:                   0.61

 Return on total capital [%]:       5.17

 

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          6,973,702.25

  Fixed assets                           EUR          1,847,511.00

   Intangible assets                     EUR             19,783.00

    Goodwill                             EUR              1,089.00

    Other / unspecified intangible assetsEUR             18,694.00

   Tangible assets                       EUR          1,827,728.00

    Land / similar rights                EUR          1,418,026.00

    Plant / machinery                    EUR            115,019.00

    Other tangible assets / fixtures and

    fittings                             EUR            294,683.00

  Current assets                         EUR          4,950,355.74

   Stocks                                EUR          3,689,965.67

    Raw materials, consumables and

    supplies                             EUR             44,000.00

    Finished goods / work in progress    EUR          3,639,926.00

    Other / unspecified stocks           EUR              6,039.67

   Accounts receivable                   EUR          1,158,097.77

    Amounts due from shareholders        EUR            100,473.85

    Trade debtors                        EUR            955,232.66

    Other debtors and assets             EUR            102,391.26

   Liquid means                          EUR            102,292.30

  Remaining other assets                 EUR            175,835.51

   Accruals (assets)                     EUR             90,000.02

   Active difference from asset

   offsetting                            EUR             85,835.49

 

 LIABILITIES                             EUR          6,973,702.25

  Shareholders' equity                   EUR          5,394,275.35

   Capital                               EUR            100,000.00

    Subscribed capital (share capital)   EUR            100,000.00

   Reserves                              EUR            421,330.00

    Retained earnings / revenue reserves EUR            421,330.00

   Balance sheet profit/loss (+/-)       EUR          4,872,945.35

    Balance sheet profit / loss          EUR          4,872,945.35

  Provisions                             EUR            384,155.89

   Pension provisions and comparable

   provisions                            EUR             46,966.00

   Provisions for taxes                  EUR             95,919.89

   Other / unspecified provisions        EUR            241,270.00

  Liabilities                            EUR          1,195,271.01

   Financial debts                       EUR            220,043.97

    Liabilities due to banks             EUR            220,043.97

   Other liabilities                     EUR            975,227.04

    Trade creditors (for IAS incl. bills

    of exchange)                         EUR            345,583.69

    Liabilities from received advance

    payments                             EUR             12,920.62

    Unspecified other liabilities        EUR            616,722.73

     thereof liabilities from tax /

     financial authorities               EUR            178,353.69

     thereof liabilities from social

     security                            EUR             11,132.29

  Guarantees and other commitments       EUR            497,900.00

   Guarantees / warranties               EUR            497,900.00

    Guarantees                           EUR            497,900.00

 

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

 Code (HGB)

  Gross result (+/-)                     EUR          5,926,152.14

  Staff expenses                         EUR          2,486,577.97

   Wages and salaries                    EUR          2,015,942.02

   Social security contributions and

   expenses for pension plans and

   benefits                              EUR            470,635.95

  Total depreciation                     EUR            257,284.71

   Depreciation on tangible / intangible

   asssets (incl. start-up and exp. of

   bus.                                  EUR            257,284.71

  Other operating expenses               EUR          1,815,405.80

  Operating result from continuing

  operations                             EUR          1,366,883.66

  Interest result (+/-)                  EUR            -37,927.30

   Interest and similar income           EUR              4,611.15

    thereof from related companies       EUR                 45.20

   Interest and similar expenses         EUR             42,538.45

  Financial result (+/-)                 EUR            -37,927.30

  Result from ordinary operations (+/-)  EUR          1,328,956.36

  Income tax / refund of income tax (+/-)EUR           -385,771.75

  Other taxes / refund of taxes          EUR             -4,880.18

  Tax (+/-)                              EUR           -390,651.93

  Annual surplus / annual deficit        EUR            938,304.43

 

 Type of balance

 sheet:               Company balance sheet

 

 Financial year:      01.01.2011 - 31.12.2011

 

 ASSETS                                  EUR          6,152,263.22

  Fixed assets                           EUR          1,859,187.50

   Intangible assets                     EUR             28,848.50

    Concessions, licences, rights        EUR             26,571.50

    Goodwill                             EUR              2,277.00

   Tangible assets                       EUR          1,830,339.00

    Land / similar rights                EUR          1,521,082.00

    Plant / machinery                    EUR            151,344.00

    Other tangible assets / fixtures and

    fittings                             EUR            157,913.00

  Current assets                         EUR          4,181,126.77

   Stocks                                EUR          3,203,110.00

   Accounts receivable                   EUR            764,188.86

    Amounts due from related companies   EUR             39,223.26

    Other debtors and assets             EUR            724,965.60

   Liquid means                          EUR            213,827.91

  Remaining other assets                 EUR            111,948.95

   Accruals (assets)                     EUR             40,587.43

   Active difference from asset

   offsetting                            EUR             71,361.52

 

 LIABILITIES                             EUR          6,152,263.22

  Shareholders' equity                   EUR          4,615,970.92

   Capital                               EUR            100,000.00

    Subscribed capital (share capital)   EUR            100,000.00

   Reserves                              EUR            211,030.00

    Retained earnings / revenue reserves EUR            211,030.00

   Balance sheet profit/loss (+/-)       EUR          4,304,940.92

    Balance sheet profit / loss          EUR          4,304,940.92

  Provisions                             EUR            380,720.49

  Liabilities                            EUR          1,155,571.81

   Financial debts                       EUR            339,287.84

    Liabilities due to banks             EUR            339,287.84

   Other liabilities                     EUR            816,283.97

    Unspecified other liabilities        EUR            816,283.97

     thereof liabilities from tax /

     financial authorities               EUR            164,684.08

     thereof liabilities from social

     security                            EUR              9,354.77

 

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

 Code (HGB)

  Gross result (+/-)                     EUR          5,285,205.43

  Staff expenses                         EUR          2,390,512.79

   Wages and salaries                    EUR          1,979,442.35

   Social security contributions and

   expenses for pension plans and

   benefits                              EUR            411,070.44

  Total depreciation                     EUR            285,543.28

   Depreciation on tangible / intangible

   asssets (incl. start-up and exp. of

   bus.                                  EUR            285,543.28

  Other operating expenses               EUR          1,705,577.92

  Operating result from continuing

  operations                             EUR            903,571.44

  Interest result (+/-)                  EUR            -38,899.15

   Interest and similar income           EUR              6,097.97

   Interest and similar expenses         EUR             44,997.12

  Financial result (+/-)                 EUR            -38,899.15

  Result from ordinary operations (+/-)  EUR            864,672.29

  Income tax / refund of income tax (+/-)EUR           -253,947.10

  Other taxes / refund of taxes          EUR             -4,681.23

  Tax (+/-)                              EUR           -258,628.33

  Annual surplus / annual deficit        EUR            606,043.96

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.59.47

UK Pound

1

Rs.99.70

Euro

1

Rs.81.55

 

 

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.