MIRA INFORM REPORT

 

 

Report No. :

315642

Report Date :

04.04.2015

 

IDENTIFICATION DETAILS

 

Name :

PCO AG

 

 

Registered Office :

Donaupark 11, D 93309 Kelheim

 

 

Country :

Germany

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

28.07.1987

 

 

Legal Form :

Public Limited Company

 

 

Line of Business :

·         Manufacture of electric motors, generators and  transformators

·         Wholesale of electrical household appliances and radio and televisiongoods

 

 

No. of Employees :

68

 

 

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 – December 31, 2014

 

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

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

Comapny name & address

 

PCO AG

 

 Company Status:         active

                                    Donaupark 11

                                    D 93309 Kelheim

                                    Telephone:09441/20050

                                    Telefax:  09441/200520

                                    Homepage: www.pco.de

                                    E-mail:   info@pco.de

 

 VAT no.:                      DE128590843

 Tax ID number:             132/120/62033

 

 

CONCLUSION

 

 Business relations are permissible.

 

 LEGAL FORM           Public limited company

 Date of foundation:  28.07.1987

 Registered on:       14.10.2003

 Commercial Register: Local court 93049 Regensburg

 under:               HRB 9157

 

 Share capital:                          EUR          1,000,000.00

 

 Shareholder:

                      Dr. Emil Ott

                      Donaupark 11

                      D 93309 Kelheim

                      born: 22.06.1954

 Member of the Board of Directors:

                      Dr. Emil Ott

                      Donaupark 11

                      D 93309 Kelheim

                      having sole power of representation

                      born: 22.06.1954

                      Profession: graduate engineer

 President of the Supervisory Board:

                      Johann Plöb

                      D 93077 Bad Abbach

                      Profession: Fully qualified merchant

 Vice-president of the Supervisory Board:

                      Hans Lechner (Flugkapitän)

                      D 63768 Hösbach

 Member of the Supervisory Board:

                      Josef Reil

                      D 93077 Bad Abbach

 Proxy:

                      Karin Ott

                      D 93309 Kelheim

                      born: 27.03.1954

                      née: Wettengel

 

 Further functions/participations of Dr. Emil Ott (Member of the

 Board of Directors)

 Shareholder:

                      KEKSO GmbH

                      Donaupark 11

                      D 93309 Kelheim

                      Legal form: Private limited company

                      Share capital:     EUR             30,000.00

                      Share:             EUR             30,000.00

                      Registered

                      on:         07.04.2003

                      Reg. data:  93049 Regensburg, HRB 8957

 Shareholder:

                      Biocam GmbH

                      Friedenstr. 30

                      D 93053 Regensburg

                      Legal form: Private limited company in

                                  liquidation

                      Share capital:     EUR            132,850.00

                      Share:             EUR             29,000.00

                      Registered

                      on:         05.10.1998

                      Reg. data:  93049 Regensburg, HRB 7144

 Manager:

                      KEKSO GmbH

                      Donaupark 11

                      D 93309 Kelheim

                      Legal form: Private limited company

                      Share capital:     EUR             30,000.00

                      Registered

                      on:         07.04.2003

                      Reg. data:  93049 Regensburg, HRB 8957

 

 

COMPANY HISTORY

 

 28.07.1987 - 2000        PCO Computer Optics GmbH

                          Ludwigsplatz 4

                          D 93309 Kelheim

                          Private limited company

 2001 - 14.10.2003        PCO Computer Optics GmbH

                          Donaupark 11

                          D 93309 Kelheim

                          Private limited company

 

 

BUSINESS ACTIVITIES

 

 Main industrial sector

 27110  Manufacture of electric motors, generators and  transformators

4643    Wholesale of electrical household appliances and radio and televisiongoods

 

 

PARTICIPATIONS

 

 General partner:

                      DonauTech AG & Co. KG

                      Donaupark 11

                      D 93309 Kelheim

                      Legal form: Limited partnership with public

                       limited company as gen. part

                      Company Status: active

                      Total cap.         EUR             50,000.00

                      contribution:

                      Reg. data:  27.06.2000

                       Local court 93049 Regensburg

                         HRA 6314

 

Payment experience:  within agreed terms

 

 Negative information: We have no negative information at hand.

 

 

REAL ESTATE

 

 Type of ownership:   Tenant

 Address              Donaupark 11

                      D 93309 Kelheim

 

 Land register documents were not available.

 

 

BANKERS

 

 Principal bank

 RAIFFEISENBANK BAD ABBACH-SAAL ZW KELHEIM, 93309 KELHEIM

 Sort. code: 75069014

 BIC: GENODEF1ABS

 

 Further bank

 UNICREDIT BANK - HYPOVEREINSBANK, 93301 KELHEIM

 Sort. code: 75020073

 BIC: HYVEDEMM447

 

 

FINANCIAL FIGURES

 

 Gross profit or loss:2013             EUR         11,063,435.00

 Profit:              2013                   EUR          2,780,120.00

 Equipment:                                EUR            618,237.00

 Ac/ts receivable:                       EUR          3,467,742.00

 Liabilities:                                 EUR            337,725.00

 Total numbers of vehicles:                                      2

 - Passenger cars:                                               2

 Employees:                                                     68

 - thereof permanent staff:                                     66

 - Trainees:                                                     2

 

 

BALANCE SHEETS

 

 Balance sheet ratios 01.01.2013 - 31.12.2013

 Equity ratio [%]:                 85.35

 Liquidity ratio:                  10.00

 Return on total capital [%]:       8.89

 

 Balance sheet ratios 01.01.2012 - 31.12.2012

 Equity ratio [%]:                 84.03

 Liquidity ratio:                  10.00

 Return on total capital [%]:      10.48

 

 Balance sheet ratios 01.01.2011 - 31.12.2011

 Equity ratio [%]:                 81.29

 Liquidity ratio:                  10.00

 Return on total capital [%]:      12.69

 

 Balance sheet ratios 01.01.2010 - 31.12.2010

 Equity ratio [%]:                 80.44

 Liquidity ratio:                  10.00

 Return on total capital [%]:      16.19

 

 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         32,101,860.37

  Fixed assets                           EUR          3,725,571.68

   Intangible assets                     EUR             68,446.00

   Tangible assets                       EUR            669,277.82

    Plant / machinery                    EUR             51,041.00

    Other tangible assets / fixtures and

    fittings                             EUR            618,236.82

   Financial assets                      EUR          2,987,847.86

    Shares in participations /

    subsidiaries and the like            EUR            419,435.36

     Shares in related companies         EUR            419,435.36

    Loans to participations /

    subsidiaries and the like            EUR          2,568,412.50

     Loans to related companies          EUR          2,568,412.50

  Current assets                         EUR         27,501,191.13

   Stocks                                EUR          5,372,659.87

   Accounts receivable                   EUR          3,467,742.49

    Amounts due from related companies   EUR          1,468,777.00

    Other debtors and assets             EUR          1,998,965.49

   Investments in current assets         EUR            170,465.84

   Liquid means                          EUR         18,490,322.93

  Remaining other assets                 EUR            875,097.56

   Accruals (assets)                     EUR             62,900.00

   Deferred taxes (assets)               EUR            812,197.56

 

 LIABILITIES                             EUR         32,101,860.37

  Shareholders' equity                   EUR         27,522,421.67

   Capital                               EUR          1,000,000.00

    Subscribed capital (share capital)   EUR          1,000,000.00

   Reserves                              EUR            100,000.00

    Retained earnings / revenue reserves EUR            100,000.00

   Balance sheet profit/loss (+/-)       EUR         26,422,421.67

    Balance sheet profit / loss          EUR         26,422,421.67

  Provisions                             EUR          4,241,713.41

  Liabilities                            EUR            337,725.29

   Other liabilities                     EUR                  0.00

    Unspecified other liabilities        EUR                  0.00

     thereof liabilities from tax /

     financial authorities               EUR             62,282.71

     thereof liabilities from social

     security                            EUR             18,308.53

  Guarantees and other commitments       EUR            743,750.00

   Other guarantees and other commitmentsEUR            743,750.00

 

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

 Code (HGB)

  Gross result (+/-)                     EUR         11,063,434.84

  Staff expenses                         EUR          4,603,650.91

   Wages and salaries                    EUR          3,785,933.81

   Social security contributions and

   expenses for pension plans and

   benefits                              EUR            817,717.10

  Total depreciation                     EUR            361,903.18

   Depreciation on tangible / intangible

   asssets (incl. start-up and exp. of

   bus.                                  EUR            361,903.18

  Other operating expenses               EUR          2,334,320.69

  Operating result from continuing

  operations                             EUR          3,763,560.06

  Result from participating interests

  (+/-)                                  EUR              3,000.00

   Expenses / income from participations EUR              3,000.00

    Income from related companies        EUR              3,000.00

  Interest result (+/-)                  EUR            102,079.58

   Interest and similar income           EUR            163,981.49

    thereof from related companies       EUR              3,739.22

   Interest and similar expenses         EUR             61,901.91

  Other financial result                 EUR             83,552.90

   Income from securities and loans from

   financial assets                      EUR            112,847.82

    thereof related companies            EUR            112,847.82

   Depreciation on financial assets and

   marketable securities                 EUR             29,294.92

  Financial result (+/-)                 EUR            188,632.48

  Result from ordinary operations (+/-)  EUR          3,952,192.54

  Income tax / refund of income tax (+/-)EUR         -1,157,162.29

  Other taxes / refund of taxes          EUR            -14,909.77

  Tax (+/-)                              EUR         -1,172,072.06

  Annual surplus / annual deficit        EUR          2,780,120.48

 

 Type of balance

 sheet:               Company balance sheet

 

 Financial year:      01.01.2012 - 31.12.2012

 

 ASSETS                                  EUR         30,487,485.79

  Fixed assets                           EUR          3,444,007.92

   Intangible assets                     EUR             62,446.00

   Tangible assets                       EUR            694,719.42

    Plant / machinery                    EUR             61,657.00

    Other tangible assets / fixtures and

    fittings                             EUR            633,062.42

   Financial assets                      EUR          2,686,842.50

    Shares in participations /

    subsidiaries and the like            EUR            118,430.00

     Shares in related companies         EUR            118,430.00

    Loans to participations /

    subsidiaries and the like            EUR          2,568,412.50

     Loans to related companies          EUR          2,568,412.50

  Current assets                         EUR         26,224,207.10

   Stocks                                EUR          5,160,682.54

   Accounts receivable                   EUR          3,468,138.26

    Amounts due from related companies   EUR          1,677,988.71

    Other debtors and assets             EUR          1,790,149.55

   Investments in current assets         EUR          1,246,831.50

   Liquid means                          EUR         16,348,554.80

  Remaining other assets                 EUR            819,270.77

   Accruals (assets)                     EUR             68,700.00

   Deferred taxes (assets)               EUR            750,570.77

 

 LIABILITIES                             EUR         30,487,485.79

  Shareholders' equity                   EUR         25,742,301.19

   Capital                               EUR          1,000,000.00

    Subscribed capital (share capital)   EUR          1,000,000.00

   Reserves                              EUR            100,000.00

    Retained earnings / revenue reserves EUR            100,000.00

   Balance sheet profit/loss (+/-)       EUR         24,642,301.19

    Balance sheet profit / loss          EUR         24,642,301.19

  Provisions                             EUR          4,423,949.00

  Liabilities                            EUR            321,235.60

   Other liabilities                     EUR                  0.00

    Unspecified other liabilities        EUR                  0.00

     thereof liabilities from tax /

     financial authorities               EUR            250,006.24

     thereof liabilities from social

     security                            EUR             19,364.71

  Guarantees and other commitments       EUR          1,031,250.00

   Other guarantees and other commitmentsEUR          1,031,250.00

 

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

 Code (HGB)

  Gross result (+/-)                     EUR         11,072,750.84

  Staff expenses                         EUR          4,474,758.05

   Wages and salaries                    EUR          3,724,858.21

   Social security contributions and

   expenses for pension plans and

   benefits                              EUR            749,899.84

  Total depreciation                     EUR            518,850.24

   Depreciation on tangible / intangible

   asssets (incl. start-up and exp. of

   bus.                                  EUR            339,642.46

   Depreciation on current assets (+/-)  EUR            179,207.78

  Other operating expenses               EUR          2,021,389.24

  Operating result from continuing

  operations                             EUR          4,057,753.31

  Result from participating interests

  (+/-)                                  EUR              3,000.00

   Expenses / income from participations EUR              3,000.00

    Income from related companies        EUR              3,000.00

  Interest result (+/-)                  EUR            283,964.71

   Interest and similar income           EUR            338,606.61

    thereof from related companies       EUR             44,525.93

   Interest and similar expenses         EUR             54,641.90

  Other financial result                 EUR             87,384.47

   Income from securities and loans from

   financial assets                      EUR             92,834.00

    thereof related companies            EUR             92,834.00

   Depreciation on financial assets and

   marketable securities                 EUR              5,449.53

  Financial result (+/-)                 EUR            374,349.18

  Result from ordinary operations (+/-)  EUR          4,432,102.49

  Income tax / refund of income tax (+/-)EUR         -1,293,745.12

  Other taxes / refund of taxes          EUR            -26,436.08

  Tax (+/-)                              EUR         -1,320,181.20

  Annual surplus / annual deficit        EUR          3,111,921.29

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.59

UK Pound

1

Rs.92.46

Euro

1

Rs.67.51

 

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

Report Prepared by :

TPT

 

               


 

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.