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Report No. : |
316031 |
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Report Date : |
13.04.2015 |
IDENTIFICATION DETAILS
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Name : |
GLOBAL
FOODS TRADING GMBH |
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Registered Office : |
Am Winkelgraben 1a, D 64584 Biebesheim |
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Country : |
Germany |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
14.05.1992 |
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Legal Form : |
Private limited company |
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Line of Business : |
·
Non-specialized wholesale of raw
materials and half-finished and finished goods
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No. of Employee : |
1 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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.
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.
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Source
: CIA |
GLOBAL FOODS TRADING GMBH
Company Status: active
Am Winkelgraben 1a
D 64584 Biebesheim
Telephone:06258/98980
Telefax: 06258/989899
Homepage:
www.gftonline.de
E-mail: info@gftonline.de
VAT
no.: DE114356880
Tax
ID number: 007 234 12507
Business relations are permissible.
LEGAL FORM Private limited company
Date of foundation: 14.05.1992
Shareholders'
agreement: 14.05.1992
Registered on: 27.08.2001
Commercial Register: Local court 64283
Darmstadt
under: HRB 54602
Share capital: EUR 300,000.00
Pawan Kumar Bhandari
Aschaffenburger Str. 32
D 64546
Mörfelden-Walldorf
born: 13.04.1949
Share: EUR 180,000.00
Shareholder:
Manav Bhandari
Berliner Str. 7
D 64546
Mörfelden-Walldorf
born: 13.09.1985
Share: EUR 60,000.00
Shareholder:
Parul Bhandari
Berliner Str. 7
D 64546
Mörfelden-Walldorf
born: 02.02.1983
Share: EUR 60,000.00
Pawan Kumar Bhandari
Aschaffenburger Str. 32
D 64546
Mörfelden-Walldorf
having sole power of
representation
born: 13.04.1949
Marital status: married
Manav Bhandari
Berliner Str. 7
D 64546
Mörfelden-Walldorf
having sole power of
representation
born: 13.09.1985
14.05.1992
- 02.06.1993 Global Foods Trading GmbH
Dieselstr. 6
D 64546
Mörfelden-Walldorf
Private limited
company
03.06.1993 - 26.08.2001 Global Foods Trading GmbH
Landwehrstr. 52
D 64293 Darmstadt
Private limited
company
Main industrial sector
46901
Non-specialized wholesale of raw materials and half-finished and finished
goods
47112
Non-specialized sale of miscellaneous goods with food, beverages or
tobacco predominating
Payment experience: within agreed terms
Negative information:We have no negative
information at hand.
Balance sheet year: 2013
Type of ownership: Tenant
Address Am
Winkelgraben 1a
D 64584 Biebesheim
Real Estate of: Pawan
Kumar Bhandari
Type of ownership: Tenant
Address Aschaffenburger
Str. 32
D
64546 Mörfelden-Walldorf
Land register documents were not available.
VOLKSBANK DARMSTADT - SÜDHESSEN, 64502
GROß-GERAU
Sort. code: 50890000
BIC: GENODEF1VBD
Gross profit or loss:2013 EUR 3,565,670.00
Profit: 2013 EUR 182,897.00
Equipment: EUR 584,423.00
Ac/ts receivable: EUR 2,359,896.00
Liabilities: EUR
4,006,930.00
Employees:
34
-
thereof permanent staff: 33
-
Part-time employees: 1
Balance sheet ratios 01.01.2013 - 31.12.2013
Equity ratio [%]: 26.88
Liquidity ratio: 0.58
Return on total capital [%]: 3.22
Balance sheet ratios 01.01.2012 - 31.12.2012
Equity ratio [%]: 26.04
Liquidity ratio: 0.39
Return on total capital [%]: 5.63
Balance sheet ratios 01.01.2011 - 31.12.2011
Equity ratio [%]: 26.25
Liquidity ratio: 0.56
Return on total capital [%]: 6.72
Balance sheet ratios 01.01.2010 - 31.12.2010
Equity ratio [%]: 21.51
Liquidity ratio: 0.46
Return on total capital [%]: 5.18
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.
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.
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 5,736,255.59
Fixed assets
EUR 656,685.50
Intangible assets
EUR 1.00
Other / unspecified intangible assetsEUR 1.00
Tangible assets
EUR 611,108.50
Land / similar rights
EUR 26,686.00
Other tangible assets / fixtures and
fittings
EUR 584,422.50
Financial assets
EUR 45,576.00
Shares in participations /
subsidiaries and the like
EUR 45,576.00
Shares in investee companies
EUR 45,576.00
Current assets
EUR 5,072,171.89
Stocks EUR 2,698,940.75
Accounts receivable
EUR 2,359,896.34
Amounts due from related companies
EUR 1,060,446.50
Other debtors and assets
EUR 1,299,449.84
Liquid means EUR 13,334.80
Remaining other assets
EUR 7,398.20
Accruals (assets)
EUR 7,398.20
LIABILITIES EUR 5,736,255.59
Shareholders' equity
EUR 1,577,541.38
Capital
EUR 300,000.00
Subscribed capital (share capital)
EUR 300,000.00
Balance sheet profit/loss (+/-)
EUR 1,277,541.38
Balance sheet profit / loss
EUR 1,277,541.38
Provisions
EUR 151,784.42
Liabilities
EUR 4,006,929.79
Financial debts EUR 2,076,984.42
Liabilities due to banks
EUR 2,076,984.42
Other liabilities
EUR 1,929,945.37
Liabililties due to related companiesEUR 24,217.49
Unspecified other liabilities
EUR 1,905,727.88
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code
(HGB)
Gross result (+/-)
EUR 3,565,670.43
Staff expenses
EUR 1,058,989.18
Wages and salaries
EUR 901,709.31
Social security contributions and
expenses for pension plans and
benefits
EUR 157,279.87
Total depreciation
EUR 111,286.07
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 111,286.07
Other operating expenses
EUR 1,939,551.38
Operating result from continuing
operations
EUR 455,843.80
Interest result (+/-)
EUR -138,954.33
Interest and similar income
EUR 2,844.87
Interest and similar expenses
EUR 141,799.20
Financial result (+/-)
EUR -138,954.33
Result from ordinary operations (+/-)
EUR 316,889.47
Income tax / refund of income tax (+/-)EUR -128,527.39
Other
taxes / refund of taxes EUR -5,465.10
Tax
(+/-)
EUR -133,992.49
Annual surplus / annual deficit
EUR 182,896.98
Type of balance sheet: Company balance sheet
Financial year: 01.01.2012 - 31.12.2012
ASSETS EUR 5,242,516.08
Fixed assets
EUR 543,896.50
Tangible assets
EUR 520,820.50
Financial
assets EUR 23,076.00
Other / unspecified financial assets EUR 23,076.00
Current assets
EUR 4,693,194.58
Stocks
EUR 3,118,140.39
Accounts receivable
EUR 1,464,514.14
Liquid means
EUR 110,540.05
Remaining other assets
EUR 5,425.00
Accruals (assets)
EUR 5,425.00
LIABILITIES EUR 5,242,516.08
Shareholders' equity
EUR 1,394,644.40
Capital
EUR 300,000.00
Subscribed capital (share capital)
EUR 300,000.00
Balance sheet profit/loss (+/-)
EUR 1,094,644.40
Profit / loss brought forward
EUR 801,765.05
Annual surplus / annual deficit
EUR 292,879.35
Provisions EUR 49,706.00
Liabilities
EUR 3,798,165.68
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.37 |
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|
1 |
Rs.91.60 |
|
Euro |
1 |
Rs.66.49 |
INFORMATION DETAILS
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Analysis Done by
: |
RAS |
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Report Prepared
by : |
ASH |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
NB |
New Business |
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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.