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Report Date : |
15.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
STEGO-ELEKTROTECHNIK GMBH |
|
|
|
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Registered Office : |
Kolpingstr. 21, D 74523 Schwäbisch Hall |
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|
|
|
Country : |
Germany |
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|
|
|
Financials (as on) : |
30.09.2012 |
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|
|
|
Date of Incorporation : |
27.08.2002 |
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|
|
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Com. Reg. No.: |
HRB 571579 |
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|
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Legal Form : |
Private Limited Company |
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|
|
|
Line of Business : |
Manufacture of other electric
equipment n.e.c. |
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|
|
No. of Employees : |
69 |
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 |
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|
|
|
Payment Behaviour : |
No Complaints |
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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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Germany |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
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 |
STEGO-Elektrotechnik
GmbH
Company
Status: active
Kolpingstr. 21
D 74523 Schwäbisch Hall
Telephone:0791/95058-0
Telefax: 0791/95058-45
Homepage: www.stego.de
E-mail: info@stego.de
DE224416201
Business relations are permissible.
LEGAL FORM Private
limited company
Date of foundation: 2002
Shareholders'
agreement: 27.08.2002
Registered on: 17.09.2002
Commercial Register: Local court 70190 Stuttgart
under: HRB
571579
EUR 1,000,000.00
Shareholder:
STEGO-Holding GmbH
Kolpingstr. 21
D 74523 Schwäbisch Hall
Legal form: Private
limited company
Share capital: EUR 615,000.00
Share: EUR 1,000,000.00
Registered on: 10.12.1980
Reg. data: 70190
Stuttgart, HRB 570417
Manager:
Isidor Gloning
Hauptstr. 5
D 73485 Unterschneidheim
having sole power of
representation
born: 11.01.1954
Profession: Fully
qualified engineer
Marital status: married
Manager:
Elmar Mangold
D 73485 Unterschneidheim
having sole power of
representation
born: 23.10.1977
Proxy:
Martin Sitter
D 74638 Waldenburg
authorized to jointly
represent the company
born: 25.11.1968
Proxy:
Rainer Martin Gruber
D 73466 Lauchheim
authorized to jointly
represent the company
born: 02.01.1967
Further functions/participations of Isidor
Gloning (Manager)
Shareholder:
STEGO International GmbH
Kolpingstr. 21
D 74523 Schwäbisch Hall
Legal form: Private
limited company
Share capital: EUR 258,700.00
Share: EUR 129,350.00
Registered
on: 13.11.2007
Reg. data: 70190 Stuttgart, HRB 724516
Shareholder:
STEGO-Holding GmbH
Kolpingstr. 21
D 74523 Schwäbisch Hall
Legal form: Private
limited company
Share capital: EUR 615,000.00
Share: EUR 88,150.00
Registered
on: 10.12.1980
Reg. data: 70190 Stuttgart, HRB 570417
Manager:
STEGO-Holding GmbH
Kolpingstr. 21
D 74523 Schwäbisch Hall
Legal form: Private
limited company
Share capital: EUR 615,000.00
Registered
on: 10.12.1980
Reg. data: 70190 Stuttgart, HRB 570417
Manager:
STEGO International GmbH
Kolpingstr. 21
D 74523 Schwäbisch Hall
Legal form: Private
limited company
Share capital: EUR 258,700.00
Registered
on: 13.11.2007
Reg. data: 70190 Stuttgart, HRB 724516
Further functions/participations of Elmar
Mangold (Manager)
Manager:
STEGO-Holding GmbH
Kolpingstr. 21
D 74523
Schwäbisch Hall
Legal form: Private
limited company
Share capital: EUR 615,000.00
Registered
on: 10.12.1980
Reg. data: 70190 Stuttgart, HRB 570417
19.09.2002 - 23.03.2003 Stego GmbH
Kolpingstr. 21
D 74523 Schwäbisch
Hall
Private limited
company
02.01.2003 - 09.10.2012 Manager
Werner Schmid
D 73485
Unterschneidheim
Main industrial sector
27900 Manufacture
of other electric equipment n.e.c.
Payment experience: within agreed terms
Negative information:We have no negative
information at hand.
Balance sheet year: 2011/2012
Type of ownership: Tenant
Address Kolpingstr.
21
D 74523 Schwäbisch Hall
Land register documents were not available.
COMMERZBANK, 74004 HEILBRONN, NECKAR
Sort. code: 62040060
BIC: COBADEFFXXX
DEUTSCHE BANK, 74005 HEILBRONN, NECKAR
Sort. code: 62070081
BIC: DEUTDESS620
POSTBANK, 70148 STUTTGART
Sort. code: 60010070
BIC: PBNKDEFFXXX
SPARKASSE SCHWÄBISCH HALL-CRAILSHEIM, 74504
SCHWÄBISCH HALL
Sort. code: 62250030
BIC: SOLADES1SHA
Gross profit or loss:2011/2012
EUR 11,295,740.00
Profit: 2011/2012 EUR 1,168,268.00
Equipment: EUR 784,982.00
Ac/ts receivable: EUR 4,899,481.00
Liabilities: EUR 1,935,375.00
Employees:
69
-
thereof permanent staff: 69
Balance sheet ratios 01.10.2011 - 30.09.2012
Equity ratio [%]: 85.32
Liquidity ratio: 10.00
Return on total capital [%]: 9.30
Balance sheet ratios 01.10.2010 - 30.09.2011
Equity ratio [%]: 88.81
Liquidity ratio: 10.00
Return on total capital [%]: 10.70
Balance sheet ratios 01.10.2009 - 30.09.2010
Equity ratio [%]: 90.30
Liquidity ratio: 10.00
Return on total capital [%]: 8.74
Balance sheet ratios 01.10.2008 - 30.09.2009
Equity ratio [%]: 90.57
Liquidity ratio: 10.00
Return on total capital [%]: 9.44
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: 01.10.2011
- 30.09.2012
ASSETS EUR 17,387,542.55
Fixed
assets EUR 906,157.08
Intangible assets
EUR 61,347.00
Tangible assets
EUR 844,810.08
Plant / machinery
EUR 1,554.00
Other tangible assets / fixtures and
fittings
EUR 784,982.00
Advance payments made / construction
in progress
EUR 58,274.08
Current assets EUR 16,447,026.26
Stocks
EUR 3,632,763.68
Accounts receivable
EUR 4,899,480.98
Amounts due from related companies
EUR 2,591,630.53
Other debtors and assets
EUR 2,307,850.45
Liquid means
EUR 7,914,781.60
Remaining other assets
EUR 34,359.21
Accruals (assets)
EUR 34,359.21
LIABILITIES EUR 17,387,542.55
Shareholders' equity
EUR 14,266,661.12
Capital
EUR 1,000,000.00
Subscribed capital (share capital)
EUR 1,000,000.00
Balance sheet profit/loss (+/-)
EUR 13,266,661.12
Profit / loss brought forward
EUR 12,098,392.97
Annual surplus / annual deficit
EUR 1,168,268.15
Provisions
EUR 1,185,506.00
Liabilities
EUR 1,935,375.43
Other liabilities
EUR 1,935,375.43
Liabilities due to shareholders
EUR 572,162.99
Liabililties due to related companiesEUR 426,963.30
Unspecified other liabilities
EUR 936,249.14
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code
(HGB)
Gross result (+/-)
EUR 11,295,739.80
Staff expenses
EUR 4,208,783.48
Wages and salaries
EUR 3,695,239.63
Social security contributions and
expenses for pension plans and
benefits
EUR 513,543.85
Total depreciation
EUR 283,792.50
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 283,792.50
Other operating expenses
EUR 4,547,032.50
Operating result from continuing
operations
EUR 2,256,131.32
Interest result (+/-)
EUR 30,216.76
Interest and similar income
EUR 39,123.16
Interest and similar expenses
EUR 8,906.40
Financial result (+/-)
EUR 30,216.76
Result from ordinary operations (+/-)
EUR 2,286,348.08
Extraordinary expenses
EUR 445,999.00
Extraordinary result (+/-)
EUR -445,999.00
Income tax / refund of income tax (+/-)EUR -668,945.94
Other taxes / refund of taxes
EUR -3,134.99
Tax
(+/-) EUR -672,080.93
Annual surplus / annual deficit
EUR 1,168,268.15
Type of balance sheet: Company
balance sheet
Financial year: 01.10.2010
- 30.09.2011
ASSETS EUR
15,438,574.40
Fixed assets
EUR 872,710.12
Intangible assets
EUR 55,635.00
Tangible assets
EUR 817,075.12
Plant / machinery EUR 4,170.00
Other tangible assets / fixtures and
fittings
EUR 799,688.00
Advance payments made / construction
in progress
EUR 13,217.12
Current assets EUR 14,537,311.97
Stocks
EUR 3,559,145.12
Accounts receivable
EUR 5,221,735.46
Amounts due from related companies
EUR 3,084,612.16
Other debtors and assets
EUR 2,137,123.30
Liquid means
EUR 5,756,431.39
Remaining other assets
EUR 28,552.31
Accruals (assets)
EUR 28,552.31
LIABILITIES EUR 15,438,574.40
Shareholders' equity
EUR 13,098,392.97
Capital
EUR 1,000,000.00
Subscribed capital (share capital)
EUR 1,000,000.00
Balance sheet profit/loss (+/-)
EUR 12,098,392.97
Profit / loss brought forward
EUR 10,449,370.11
Annual surplus / annual deficit
EUR 1,649,022.86
Provisions EUR 812,697.00
Liabilities
EUR 1,527,484.43
Other liabilities
EUR 1,527,484.43
Liabililties due to related companiesEUR 252,522.44
Unspecified other liabilities
EUR 1,274,961.99
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code
(HGB)
Gross result (+/-)
EUR 11,754,715.38
Staff expenses
EUR 3,938,334.79
Wages and salaries
EUR 3,453,492.48
Social security contributions and
expenses for pension plans and
benefits
EUR 484,842.31
Total depreciation EUR 582,150.95
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 332,150.95
Depreciation on current assets (+/-)
EUR 250,000.00
Other operating expenses
EUR 4,636,657.82
Operating result from continuing
operations
EUR 2,597,571.82
Interest result (+/-)
EUR 22,818.16
Interest
and similar income EUR 34,286.26
Interest and similar expenses
EUR 11,468.10
Financial result (+/-)
EUR 22,818.16
Result from ordinary operations (+/-)
EUR 2,620,389.98
Income tax / refund of income tax (+/-)EUR -969,102.89
Other taxes / refund of taxes
EUR -2,264.23
Tax
(+/-)
EUR -971,367.12
Annual surplus / annual deficit
EUR 1,649,022.86
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.11 |
|
|
1 |
Rs.98.15 |
|
Euro |
1 |
Rs.77.60 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
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|
Report Prepared
by : |
NIT |
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.