MIRA INFORM REPORT

 

 

Report No. :

353070

Report Date :

12.12.2015

 

IDENTIFICATION DETAILS

 

Name :

BOREALIS AGROLINZ MELAMINE DEUTSCHLAND GMBH

 

 

Registered Office :

Möllensdorfer Str. 13 D 06886 Lutherstadt Wittenberg

 

 

Country :

Germany

 

 

Financials (as on) :

31.12.2014

 

 

Date of Incorporation :

08.11.2000

 

 

Com. Reg. No.:

HRB 16111

 

 

Legal Form :

Private limited company

 

 

Line of Business :
  • Manufacture of fertilizers and nitrogen compounds
  • Manufacture of other chemical products
  • Wholesale of chemical products

 

 

No. of Employee :

87

 

 

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, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

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, 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 5.2% in 2014. The new German government introduced a minimum wage of about $11.60 (8.50 euros) 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%. The budget was essentially in balance in 2014. 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. The German economy suffers from low levels of investment, and a government plan to invest 15 billion euros 2016-18, largely in infrastructure, is intended to spur needed private investment. 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 plans to replace nuclear power with renewable energy, which accounted for 27.8% of gross electricity consumption in 2014, up from 9% in 2000. 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. Extremely low inflation, caused largely by low global energy prices and a weak euro, are expected to boost German GDP growth in 2015.

 

Source : CIA

 

Company name and address

 

BOREALIS AGROLINZ MELAMINE DEUTSCHLAND GMBH

 

 Company Status:      active

                      Möllensdorfer Str. 13

                      D 06886 Lutherstadt Wittenberg

                      Telephone:03491/680

                      Telefax:  03491/682200

                      Homepage: www.borealisgroup.com

                      E-mail:   info@borealisgroup.com

 

 

CONCLUSION

 

 Business relations are permissible.

 

 

Sumamry

 

 LEGAL FORM              Private limited company

 Date of foundation:      08.11.2000

 Begin of business

 activities:                     12.05.2005

 Shareholders'

 agreement:                   08.11.2000

 Registered on:              21.03.2001

 Commercial Register:   Local court 39576 Stendal

 under:                          HRB 16111

 

 

 Share capital

 

EUR            500,000.00

 

 Shareholder:

                      Borealis Agrolinz Melamine GmbH

                      St. Peterstr. 25

                      A 4021 Linz

                      Legal form: Other legal form

                      Share:             EUR            500,000.00

 Manager:

                      Dr. Roland Franzi

                      A  Linz

                      born: 01.01.1954

 Manager:

                      Ingo Rendel

                      A  Wilhering

                      born: 27.10.1969

                      Nationality: Austrian

 Proxy:

                      Dietmar Remplbauer

                      Tulpenweg 6

                      A 4502 St. Marien

                      authorized to jointly represent the company

                      born: 13.09.1962

 Proxy:

                      Mag. Norbert Kehrer

                      A  Herzogsdorf

                      authorized to jointly represent the company

                      born: 19.07.1966

 

 

 COMPANY HISTORY

 

 08.11.2000 - 20.03.2001  nyrs Zwölfte Vermögensverwaltungs GmbH

                          Neutormauer 16

                          D 90403 Nürnberg

                          Private limited company

 20.03.2001 - 28.07.2009  Agrolinz Melamin Deutschland GmbH

                          Möllensdorfer Str. 13

                          D 06886 Lutherstadt Wittenberg

                          Private limited company

 

 

 RESIGNED ACTING PERSONS AND SHAREHOLDERS

 

 06.02.2008 - 01.12.2015  Manager

                          Jürgen Mader

                          D 84489 Burghausen

 

 

 BUSINESS ACTIVITIES

 

 Main industrial sector

 2015    Manufacture of fertilizers and nitrogen compounds

20590   Manufacture of other chemical products n.e.c.

4675    Wholesale of chemical products

 

 

 FINANCIAL INFORMATION

 

Payment experience:  cash discount/within agreed terms

 

Balance sheet year:  2014

 

 

 PMI:                 No significant / relevant payment experience

                      information pertaining to the company

                      inquired upon is shown in the Deutscher

                      Debitoren Monitor (DDMonitor).

 

 

 REAL ESTATE

 

 Type of ownership:   Tenant

 Address              Möllensdorfer Str. 13

                      D 06886 Lutherstadt Wittenberg

 

 Land register documents were not available.

 

 

 BANKERS

 

 Principal bank

 OBERBANK NDL DEUTSCHLAND, 80068 MÜNCHEN

 Sort. code: 70120700

 BIC: OBKLDEMXXXX

 

 

 FINANCIAL FIGURES

 

 Turnover:            2013               EUR        117,476,336.00

                      2014               EUR         89,283,942.00

 Profit:              2013               EUR         10,760,627.00

                      2014               EUR         13,326,812.00

 further business figures:

 Equipment:                              EUR            445,170.00

 Ac/ts receivable:                       EUR         52,253,610.00

 Liabilities:                            EUR         16,736,121.00

 Employees:                                                     87

 - thereof permanent staff:                                     87

 

 

 BALANCE SHEETS

 

 Balance sheet ratios 01.01.2014 - 31.12.2014

 Equity ratio [%]:                 62.65

 Liquidity ratio:                   3.26

 Return on total capital [%]:      17.81

 

 Balance sheet ratios 01.01.2013 - 31.12.2013

 Equity ratio [%]:                 51.68

 Liquidity ratio:                   2.59

 Return on total capital [%]:      16.47

 

 Balance sheet ratios 01.01.2012 - 31.12.2012

 Equity ratio [%]:                 44.74

 Liquidity ratio:                   1.43

 Return on total capital [%]:       2.25

 

 Balance sheet ratios 01.01.2011 - 31.12.2011

 Equity ratio [%]:                 38.86

 Liquidity ratio:                   0.77

 Return on total capital [%]:      -9.23

 

 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

 Origin of the present

 balance sheet:       electronic German Federal Gazette

 

 Financial year:      01.01.2014 - 31.12.2014

 

 ASSETS                                  EUR         74,818,548.93

  Fixed assets                           EUR          9,221,727.45

   Tangible assets                       EUR          9,221,727.45

    Land / similar rights                EUR          1,233,886.28

    Plant / machinery                    EUR          7,410,476.91

    Other tangible assets / fixtures and

    fittings                             EUR            445,169.81

    Advance payments made / construction

    in progress                          EUR            132,194.45

  Current assets                         EUR         57,405,724.15

   Stocks                                EUR          5,028,336.64

    Raw materials, consumables and

    supplies                             EUR            750,785.56

    Finished goods / work in progress    EUR          4,277,551.08

   Accounts receivable                   EUR         52,253,610.23

    Trade debtors                        EUR         10,935,048.26

    Amounts due from related companies   EUR         39,951,316.25

    Other debtors and assets             EUR          1,367,245.72

   Liquid means                          EUR            123,777.28

  Remaining other assets                 EUR          8,191,097.33

   Accruals (assets)                     EUR          8,191,097.33

 

 LIABILITIES                             EUR         74,818,548.93

  Shareholders' equity                   EUR         45,135,746.41

   Capital                               EUR            500,000.00

    Subscribed capital (share capital)   EUR            500,000.00

   Reserves                              EUR         55,000,000.00

    Capital reserves                     EUR         55,000,000.00

   Balance sheet profit/loss (+/-)       EUR        -10,364,253.59

    Balance sheet profit / loss          EUR        -10,364,253.59

  Items between shareholders' equity and

  debt capital                           EUR          2,323,907.59

   Allowances / bonuses                  EUR          2,323,907.59

  Provisions                             EUR         10,622,773.78

   Provisions for taxes                  EUR          1,948,944.88

   Other / unspecified provisions        EUR          8,673,828.90

  Liabilities                            EUR         16,736,121.15

   Other liabilities                     EUR         16,736,121.15

    Trade creditors (for IAS incl. bills

    of exchange)                         EUR          7,646,935.51

    Liabililties due to related companiesEUR          8,793,439.60

    Unspecified other liabilities        EUR            295,746.04

 

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

 Code (HGB)

 

  Sales                                  EUR         89,283,941.60

  Inventory change + own costs (+/-)     EUR           -986,766.03

   Inventory change (+/-)                EUR           -986,766.03

  Other operating income                 EUR         10,039,500.62

  Cost of materials                      EUR         47,206,387.03

   Raw materials and supplies, purchased

   goods                                 EUR         46,237,230.40

   Purchased services                    EUR            969,156.63

  Gross result (+/-)                     EUR         51,130,289.16

  Staff expenses                         EUR          5,367,683.63

   Wages and salaries                    EUR          4,566,507.77

   Social security contributions and

   expenses for pension plans and

   benefits                              EUR            801,175.86

  Total depreciation                     EUR          6,326,759.36

   Depreciation on tangible / intangible

   asssets (incl. start-up and exp. of

   bus.                                  EUR          6,326,759.36

  Other operating expenses               EUR         26,008,789.84

  Operating result from continuing

  operations                             EUR         13,427,056.33

  Interest result (+/-)                  EUR          1,230,368.82

   Interest and similar income           EUR          1,750,368.95

    thereof from related companies       EUR              4,465.57

   Interest and similar expenses         EUR            520,000.13

    thereof paid to related companies    EUR             51,336.72

  Financial result (+/-)                 EUR          1,230,368.82

  Result from ordinary operations (+/-)  EUR         14,657,425.15

  Income tax / refund of income tax (+/-)EUR         -1,261,607.39

  Other taxes / refund of taxes          EUR            -69,006.24

  Tax (+/-)                              EUR         -1,330,613.63

  Annual surplus / annual deficit        EUR         13,326,811.52

 

 Type of balance

 sheet:               Company balance sheet

 Origin of the present

 balance sheet:       electronic German Federal Gazette

 

 Financial year:      01.01.2013 - 31.12.2013

 

 ASSETS                                  EUR         65,349,819.66

  Fixed assets                           EUR         11,642,507.33

   Tangible assets                       EUR         11,642,507.33

    Land / similar rights                EUR          1,464,593.83

    Plant / machinery                    EUR          9,499,869.85

    Other tangible assets / fixtures and

    fittings                             EUR            623,559.08

    Advance payments made / construction

    in progress                          EUR             54,484.57

  Current assets                         EUR         52,882,904.09

   Stocks                                EUR          5,743,912.84

    Raw materials, consumables and

    supplies                             EUR            479,595.73

    Finished goods / work in progress    EUR          5,264,317.11

   Accounts receivable                   EUR         47,084,478.09

    Trade debtors                        EUR         13,145,174.40

    Amounts due from related companies   EUR         32,631,936.34

    Other debtors and assets             EUR          1,307,367.35

   Liquid means                          EUR             54,513.16

  Remaining other assets                 EUR            824,408.24

   Accruals (assets)                     EUR            824,408.24

 

 LIABILITIES                             EUR         65,349,819.66

  Shareholders' equity                   EUR         31,808,934.89

   Capital                               EUR            500,000.00

    Subscribed capital (share capital)   EUR            500,000.00

   Reserves                              EUR         55,000,000.00

    Capital reserves                     EUR         55,000,000.00

   Balance sheet profit/loss (+/-)       EUR        -23,691,065.11

    Balance sheet profit / loss          EUR        -23,691,065.11

  Items between shareholders' equity and

  debt capital                           EUR          3,114,025.94

   Allowances / bonuses                  EUR          3,114,025.94

  Provisions                             EUR         11,815,350.31

   Provisions for taxes                  EUR            820,792.20

   Other / unspecified provisions        EUR         10,994,558.11

  Liabilities                            EUR         18,611,508.52

   Other liabilities                     EUR         18,611,508.52

    Trade creditors (for IAS incl. bills

    of exchange)                         EUR          9,379,278.44

    Liabililties due to related companiesEUR          8,812,663.32

    Unspecified other liabilities        EUR            419,566.76

 

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

 Code (HGB)

 

  Sales                                  EUR        117,476,335.96

  Inventory change + own costs (+/-)     EUR           -721,330.50

   Inventory change (+/-)                EUR           -721,330.50

  Other operating income                 EUR          4,281,448.37

  Cost of materials                      EUR         66,975,629.87

   Raw materials and supplies, purchased

   goods                                 EUR         64,918,993.98

   Purchased services                    EUR          2,056,635.89

  Gross result (+/-)                     EUR         54,060,823.96

  Staff expenses                         EUR          5,195,663.88

   Wages and salaries                    EUR          4,407,091.15

   Social security contributions and

   expenses for pension plans and

   benefits                              EUR            788,572.73

  Total depreciation                     EUR         11,491,684.22

   Depreciation on tangible / intangible

   asssets (incl. start-up and exp. of

   bus.                                  EUR         11,491,684.22

  Other operating expenses               EUR         25,417,436.83

  Operating result from continuing

  operations                             EUR         11,956,039.03

  Interest result (+/-)                  EUR           -168,911.88

   Interest and similar income           EUR            376,005.56

    thereof from related companies       EUR              4,477.37

   Interest and similar expenses         EUR            544,917.44

    thereof paid to related companies    EUR             67,598.80

  Financial result (+/-)                 EUR           -168,911.88

  Result from ordinary operations (+/-)  EUR         11,787,127.15

  Income tax / refund of income tax (+/-)EUR           -954,803.04

  Other taxes / refund of taxes          EUR            -71,697.08

  Tax (+/-)                              EUR         -1,026,500.12

  Annual surplus / annual deficit        EUR         10,760,627.03

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.66.79

UK Pound

1

Rs.101.10

Euro

1

Rs.73.10

EUR

1

Rs.73.81

Note : Above are approximate rates obtained from sources believed to be correct

 

 

INFORMATION DETAILS

 

Analysis Done by :

TRI

 

 

Report Prepared by :

ANK

 

 

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.