|
Report Date : |
31.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
SUPERSTARS GMBH. DIAMOND EXPORT/IMPORT |
|
|
|
|
Registered Office : |
Friedenstr. 78, D 75173 Pforzheim |
|
|
|
|
Country : |
Germany |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
25.09.1981 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Wholesale of clocks and watches and
jewelry |
|
|
|
|
No of Employees : |
6 |
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 – 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 |
SUPERSTARS GMBH. DIAMOND EXPORT/IMPORT
Company Status: active
Friedenstr. 78
D 75173 Pforzheim
Telephone:07231/28094-24
Telefax:
07231/28094-10
E-mail:
superstars_germany@gmx.de
Business relations are permissible.
Legal Form Private
limited company
Date of foundation: 25.09.1981
Registered on: 03.11.1981
Commercial Register: Local court 68159 Mannheim
under: HRB
501709
Share capital: EUR 153,387.56
Shareholder:
Kaushik R. Metha
Carl-Schurz-Str. 127
D 75180 Pforzheim
born: 09.06.1956
Share: EUR 153,387.56
Manager:
Kaushik R. Metha
Carl-Schurz-Str. 127
D 75180 Pforzheim
born: 09.06.1956
Marital status: married
03.11.1981 - 17.07.2000 Superstars GmbH Diamond Export / Import
Carl-Schurz-Str. 127
D 75180 Pforzheim
Private limited
company
Main industrial sector
46480 Wholesale
of clocks and watches and jewelry
Payment experience: within
agreed terms
Negative information: We have no negative information at hand.
Type of ownership: Tenant
Address Friedenstr.
78
D
75173 Pforzheim
Land register documents were not available.
SPARKASSE PFORZHEIM CALW, 75162 PFORZHEIM
Sort. code: 66650085
BIC: PZHSDE66XXX
Gross profit or loss:2012 EUR 1,020,736.00
2013 EUR 763,815.00
Profit: 2012 EUR 75,377.00
2013 EUR 155,196.00
further business figures:
Equipment: EUR 42,001.00
Ac/ts receivable: EUR 3,032,831.00
Liabilities: EUR 5,917,543.00
Total numbers of vehicles: 1
Employees: 6
-
thereof permanent staff: 3
-
Part-time employees: 3
Balance sheet ratios 01.01.2013 - 31.12.2013
Equity ratio [%]: 20.57
Liquidity ratio: 0.52
Return on total capital [%]: 2.06
Balance sheet ratios 01.01.2012 - 31.12.2012
Equity ratio [%]: 23.57
Liquidity ratio: 0.74
Return on total capital [%]: 1.25
Balance sheet ratios 01.01.2011 - 31.12.2011
Equity ratio [%]: 15.52
Liquidity ratio: 0.75
Return on total capital [%]: 4.18
Balance sheet ratios 01.01.2010 - 31.12.2010
Equity
ratio [%]: 17.28
Liquidity ratio: 0.63
Return on total capital [%]: 2.00
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: 01.01.2013 - 31.12.2013
ASSETS EUR 7,564,128.70
Fixed assets
EUR 42,001.00
Tangible assets
EUR 42,001.00
Other tangible assets / fixtures and
fittings
EUR 42,001.00
Current assets
EUR 7,521,665.70
Stocks
EUR 4,373,825.00
Accounts receivable
EUR 3,032,831.31
Other debtors and assets
EUR 3,032,831.31
Liquid means
EUR 115,009.39
Remaining other assets
EUR 462.00
Accruals (assets)
EUR 462.00
LIABILITIES EUR 7,564,128.70
Shareholders' equity
EUR 1,588,990.73
Capital
EUR 153,387.56
Subscribed capital (share capital)
EUR 153,387.56
Balance sheet profit/loss (+/-)
EUR 1,435,603.17
Profit / loss brought forward
EUR 1,280,407.01
Annual surplus / annual deficit
EUR 155,196.16
Provisions
EUR 41,380.00
Liabilities
EUR 5,917,542.97
Financial debts
EUR 936,175.87
Liabilities due to banks
EUR 936,175.87
Other liabilities
EUR 4,981,367.10
Unspecified other liabilities
EUR 4,981,367.10
Other liabilities EUR 16,215.00
Deferred taxes (not included under
provisions/liabilities)
EUR 16,215.00
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code (HGB)
Gross result (+/-)
EUR 763,815.29
Staff expenses
EUR 228,159.87
Wages and salaries
EUR 201,053.69
Social security contributions and
expenses for pension plans and
benefits
EUR 27,106.18
Total depreciation
EUR 9,785.31
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus. EUR 9,785.31
Other operating expenses
EUR 280,567.23
Operating result from continuing
operations
EUR 245,302.88
Interest result (+/-)
EUR -20,084.60
Interest and similar income
EUR 19,771.53
Interest and similar expenses
EUR 39,856.13
Financial result (+/-)
EUR -20,084.60
Result from ordinary operations (+/-) EUR
225,218.28
Income tax / refund of income tax (+/-)EUR -68,947.12
Other taxes / refund of taxes
EUR -1,075.00
Tax (+/-)
EUR -70,022.12
Annual surplus / annual deficit
EUR 155,196.16
Type of balance
sheet: Company balance sheet
Financial year: 01.01.2012 - 31.12.2012
ASSETS EUR 6,046,399.70
Fixed assets
EUR 17,808.00
Tangible assets
EUR 17,808.00
Other tangible assets / fixtures and
fittings
EUR 17,808.00
Current assets
EUR 6,028,198.70
Stocks
EUR 2,628,089.00
Other / unspecified stocks
EUR 2,628,089.00
Accounts receivable
EUR 3,067,628.03
Other debtors and assets
EUR 3,067,628.03
Liquid means
EUR 332,481.67
Remaining other assets
EUR 393.00
Accruals (assets)
EUR 393.00
LIABILITIES EUR 6,046,399.70
Shareholders' equity
EUR 1,433,794.57
Capital
EUR 153,387.56
Subscribed capital (share capital)
EUR 153,387.56
Balance sheet profit/loss (+/-)
EUR 1,280,407.01
Profit / loss brought forward
EUR 1,205,029.66
Annual surplus / annual deficit
EUR 75,377.35
Provisions
EUR 123,881.89
Liabilities
EUR 4,474,933.24
Financial debts
EUR 920,677.49
Liabilities due to banks
EUR 920,677.49
Other liabilities
EUR 3,554,255.75
Unspecified other liabilities
EUR 3,554,255.75
Other liabilities
EUR 13,790.00
Deferred taxes (not included under
provisions/liabilities)
EUR 13,790.00
Guarantees
and other commitments EUR 490,224.47
Other guarantees and other commitmentsEUR 490,224.47
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code (HGB)
Gross result (+/-)
EUR 1,020,735.64
Staff expenses
EUR 234,693.24
Wages and salaries
EUR 206,987.19
Social security contributions and
expenses for pension plans and
benefits EUR 27,706.05
Total depreciation
EUR 6,263.00
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 6,263.00
Other operating expenses
EUR 645,290.53
Operating result from continuing
operations
EUR 134,488.87
Interest result (+/-)
EUR -21,413.36
Interest and similar income
EUR 25,014.62
Interest and similar expenses
EUR 46,427.98
thereof paid to related companies
EUR 0.00
Financial result (+/-)
EUR -21,413.36
Result
from ordinary operations (+/-) EUR 113,075.51
Income tax / refund of income tax (+/-)EUR -36,692.16
Other taxes / refund of taxes
EUR -1,006.00
Tax (+/-)
EUR -37,698.16
Annual surplus / annual deficit
EUR 75,377.35
DIAMOND INDUSTRY – INDIA
-
From time immemorial, India is well known in the world
as the birthplace for diamonds. It is difficult to trace the origin of diamonds
but history says that in the remote past, diamonds were mined only in India.
Diamond production in India can be traced back to almost 8th Century
B.C. India, in fact, remained undisputed leader till 18th
Century when Brazilian fields were discovered in 1725 followed by emergence of
S. Africa, Russia and Australia.
-
The achievement of the Indian diamond industry was
possible only due to combination of the manufacturing skills of the Indian
workforce and the untiring and unflagging efforts of the Indian diamantaires,
supported by progressive Government policies.
-
The area of study of family owned diamond businesses
derives its importance from the huge conglomerate of family run organizations
which operate in the diamond industry since many generations.
-
Some of the basic traits of family run business
enterprises include spirit of entrepreneurship, mutual trust lowers transaction
costs, small, nimble and quick to react, information as a source of advantage
and philanthropy.
-
Family owned diamond businesses need to improve on
many fronts including higher standard of corporate governance, long-term
performance – focused strategies, modern management and technology.
-
Utmost caution is to be exercised while dealing with
some medium and large diamond traders which are usually engaged in fictitious
import – export, inter-company transactions, financially assisted by banks. In
the process, several public sector banks lost several hundred million rupees.
They mostly diverted borrowed money for diamond business into real estate and
capital markets.
-
Excerpts from Times of India dated 30th
October 2010 is as under –
-
Gem & Jewellery Export Promotion Council in its
statistical data has shown the export of polished diamonds to have increase by
28 % in February 2013. Compared to $ 1.4 bn worth of polished diamond export in
February, 2012, India exported $ 1.84 billion worth of polished diamonds in
February 2013. A senior executive of GJEPC said, “Export of cut and polished
diamonds started falling month-wise after the imposition of 2 % of import duty
on the polished diamonds. But February, 2013 has given a new ray of hope to the
industry as the export of polished diamonds has actually increased by 28 %. It
means the industry is on the track of recovery and round tripping of diamonds
has stopped completely.” Demand has started coming from the US, the UK, Japan
and China. India’s polished diamond export is expected to cross $ 21 bn in
2013-14.
-
The banking sector has started exercising restraint
while following prudent risk management norms when lending money to gems and
jewellery sector. This follows the implementation of Basel III accord – a
global voluntary regulatory standard on bank capital adequacy, stress testing
and market liquidity.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.46 |
|
|
1 |
Rs.98.21 |
|
Euro |
1 |
Rs.77.45 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SMN |
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.