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Report No. : |
305438 |
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Report Date : |
30.01.2015 |
IDENTIFICATION DETAILS
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Name : |
GELENKWELLENWERK STADTILM GMBH |
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Registered Office : |
Weimarische Str. 62, D 99326 Stadtilm |
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Country : |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
27.06.1990 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacture of Bearings, Gears, Gearing and Driving Elements |
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No. of Employee : |
380 |
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 |
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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.
ECGC Country Risk Classification List – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
Germany |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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 |
GELENKWELLENWERK STADTILM GMBH
Company Status: active
Weimarische Str. 62
D 99326 Stadtilm
Telephone:03629/640-0
Telefax: 03629/800002
Homepage: www.gewes.de
E-mail: gewes@gewes.de
Trade name: GEWES
VAT no.: DE150099504
Tax ID number: 156/109/00132
LEGAL FORM Private
limited company
Date of foundation: 27.06.1990
Shareholders'
agreement: 27.06.1990
Registered on: 20.08.1990
Commercial Register: Local court 07745 Jena
under: HRB 100823
Share capital:
EUR 2,556,459.41
Shareholder:
GWS II
Vermögensverwaltungs GmbH & Co. KG
Weimarische
Str. 62
D 99326
Stadtilm
Legal form:
Ltd partnership with priv. ltd.
company as
general partner
Total
cap. EUR 10,000.00
contribution:
Share: EUR 2,109,079.01
Registered
on: 17.10.2012
Reg. data:
07745 Jena, HRA 502813
Shareholder:
Martin Röder
D 99334
Elleben
born:
19.04.1951
Share: EUR 255,645.94
Shareholder:
GWS
Vermögensverwaltungs GmbH & Co. KG
Weimarische
Str. 62
D 99326
Stadtilm
Legal form:
Ltd partnership with priv. ltd.
company as
general partner
Total
cap. EUR 10,000.00
contribution:
Share: EUR 191,734.46
Registered
on: 18.02.2003
Reg. data:
07745 Jena, HRA 102690
Manager:
Martin Röder
D 99334
Elleben
having sole power of representation
born:
19.04.1951
Manager:
Rudolf
Krasser
D 99096
Erfurt
having sole
power of representation
born:
27.06.1977
Manager:
Benjamin
Redlingshöfer
D 07389 Ranis
having sole
power of representation
born:
19.02.1978
Proxy:
Daniela
Röder-Krasser
D 99096 Erfurt
authorized to
jointly represent the company
born:
22.01.1974
Proxy:
Stefan
Scharfenberg
D 99334
Elleben
authorized to
jointly represent the company
born:
21.05.1966
Further functions/participations of Martin Röder (Manager)
Limited partner:
GWS II
Vermögensverwaltungs GmbH & Co. KG
Weimarische
Str. 62
D 99326
Stadtilm
Legal form:
Ltd partnership with priv. ltd.
company as general partner
Total
cap. EUR 10,000.00
contribution:
Share: EUR 10,000.00
Registered
on: 17.10.2012
Reg.
data: 07745 Jena, HRA 502813
Limited partner:
GWS
Vermögensverwaltungs GmbH & Co. KG
Weimarische
Str. 62
D 99326
Stadtilm
Legal form:
Ltd partnership with priv. ltd.
company as general partner
Total
cap. EUR 10,000.00
contribution:
Share: EUR 8,000.00
Registered
on: 18.02.2003
Reg.
data: 07745 Jena, HRA 102690
Shareholder:
GWS
Beteiligungsgesellschaft mbH
Weimarische
Str. 62
D 99326
Stadtilm
Legal form:
Private limited company
Share
capital: EUR 25,000.00
Share: EUR 25,000.00
Registered
on: 03.02.2003
Reg.
data: 07745 Jena, HRB 112684
Manager:
GWS
Beteiligungsgesellschaft mbH
Weimarische
Str. 62
D 99326
Stadtilm
Legal form:
Private limited company
Share
capital: EUR 25,000.00
Registered
on: 03.02.2003
Reg.
data: 07745 Jena, HRB 112684
Main industrial sector
28150 Manufacture of bearings,
gears, gearing and driving elements
Payment experience: cash discount/within
agreed terms
Negative information: We have no negative information at hand.
Type of ownership: proprietor
Share: 100.00 %
Address Weimarische
Str. 62
D 99326
Stadtilm
Land register documents were not available.
COMMERZBANK, 99304 ARNSTADT
Sort. code: 82040000, Account no.: 810374900
BIC: COBADEFFXXX, IBAN: DE09820400000810374900
Equipment:
EUR 351,277.00
Ac/ts receivable:
EUR 6,691,315.00
Liabilities:
EUR 25,077,754.00
Employees:
380
Balance sheet ratios 01.01.2012 - 31.12.2012
Equity ratio [%]:
35.66
Liquidity ratio:
0.29
Return on total capital [%]:
-0.22
Balance sheet ratios 01.01.2011 - 31.12.2011
Equity ratio [%]:
37.32
Liquidity ratio: 0.33
Return on total capital [%]:
2.37
Balance sheet ratios 01.01.2010 - 31.12.2010
Equity ratio [%]:
36.90
Liquidity ratio:
0.32
Return on total capital [%]:
1.55
Balance sheet ratios 01.01.2009 - 31.12.2009
Equity ratio [%]:
34.75
Liquidity ratio:
0.34
Return on total capital [%]:
-3.22
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: 01.01.2012 - 31.12.2012
ASSETS EUR 40,075,322.58
Fixed assets EUR 20,860,413.33
Intangible assets EUR 46,484.70
Concessions, licences, rights EUR 46,484.70
Tangible assets EUR 20,813,928.63
Land / similar rights EUR 11,299,577.29
Plant / machinery EUR 9,041,259.40
Other tangible assets / fixtures and
fittings EUR 351,277.00
Advance payments made / construction
in progress EUR 121,814.94
Current assets EUR 18,807,972.48
Stocks EUR 11,834,677.36
Raw materials, consumables and
supplies EUR 5,467,492.87
Finished goods / work in progress EUR
6,367,184.49
Accounts receivable EUR 6,691,315.22
Trade debtors EUR 5,336,694.18
Other debtors and assets EUR 1,354,621.04
Liquid means EUR 281,979.90
Remaining other assets EUR 406,936.77
Accruals (assets) EUR 287,272.77
Active difference from asset
offsetting EUR 119,664.00
LIABILITIES EUR 40,075,322.58
Shareholders' equity EUR 11,351,280.90
Capital EUR 2,556,459.41
Subscribed capital (share capital) EUR
2,556,459.41
Reserves EUR 7,773,384.64
Capital reserves EUR 5,090,642.88
Retained earnings / revenue reserves
EUR 2,682,741.76
Balance sheet profit/loss (+/-) EUR 1,021,436.85
Profit / loss brought forward EUR 1,113,847.58
Annual surplus / annual deficit EUR
-92,410.73
Items between shareholders' equity and
debt capital EUR 1,856,262.65
Allowances / bonuses EUR 1,856,262.65
Provisions EUR 1,790,024.93
Pension provisions and comparable
provisions EUR 681,194.80
Other / unspecified provisions EUR 1,108,830.13
Liabilities EUR 25,077,754.10
Financial debts EUR 16,836,858.19
Liabilities due to banks EUR 16,836,858.19
Other liabilities EUR 8,240,895.91
Trade creditors (for IAS incl. bills
of exchange) EUR
3,678,516.50
Liabilities due to shareholders EUR 2,064,761.75
Unspecified other liabilities EUR 2,497,617.66
thereof liabilities from tax /
financial authorities EUR 158,466.62
thereof liabilities from social
security EUR 4,475.16
PROFIT
AND LOSS ACCOUNT (cost-summary method) according to Comm.
Code
(HGB)
Sales EUR 47,696,694.34
Inventory change + own costs (+/-) EUR 263,696.54
Inventory change (+/-) EUR 183,966.27
Capitalised own costs EUR 79,730.27
Other operating income EUR 1,923,791.07
Cost of materials EUR 26,634,849.37
Raw materials and supplies, purchased
goods EUR 23,375,630.22
Purchased services EUR 3,259,219.15
Gross result (+/-) EUR 23,249,332.58
Staff expenses EUR 14,945,131.00
Wages and salaries EUR 12,636,445.58
Social security contributions and
expenses for pension plans and
benefits EUR 2,308,685.42
Total depreciation EUR 2,420,294.17
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus. EUR
2,420,294.17
Other operating expenses EUR 4,607,560.46
Operating result from continuing
operations EUR 1,276,346.95
Interest result (+/-) EUR -1,299,022.12
Interest and similar income EUR 2,170.56
Interest and similar expenses EUR 1,301,192.68
Financial result (+/-) EUR -1,299,022.12
Result from ordinary operations (+/-) EUR
-22,675.17
Extraordinary expenses EUR 4,040.60
Extraordinary result (+/-) EUR -4,040.60
Income tax / refund of income tax
(+/-)EUR -62.86
Other taxes / refund of taxes EUR -65,632.10
Tax (+/-) EUR -65,694.96
Annual surplus / annual deficit EUR -92,410.73
Type
of balance
sheet: Company balance sheet
Financial
year: 01.01.2011 - 31.12.2011
ASSETS EUR 38,651,530.65
Fixed assets EUR 19,658,433.56
Intangible assets EUR 17,818.70
Concessions, licences, rights EUR 17,818.70
Tangible assets EUR 19,640,614.86
Land / similar rights EUR 11,174,525.29
Plant / machinery EUR 6,176,609.00
Other tangible assets / fixtures and
fittings EUR 349,447.00
Advance payments made / construction
in progress EUR 1,940,033.57
Current assets EUR 18,956,133.63
Stocks EUR 11,548,492.95
Raw materials, consumables and
supplies EUR 5,365,274.73
Finished goods / work in progress EUR
6,183,218.22
Accounts receivable EUR 7,074,658.85
Trade debtors EUR 5,422,100.65
Other debtors and assets EUR 1,652,558.20
Liquid means EUR 332,981.83
Remaining other assets EUR
36,963.46
Accruals (assets) EUR 36,963.46
LIABILITIES EUR 38,651,530.65
Shareholders' equity EUR 13,643,691.63
Capital EUR 2,556,459.41
Subscribed capital (share capital) EUR
2,556,459.41
Reserves EUR 7,773,384.64
Capital reserves EUR 5,090,642.88
Retained earnings / revenue reserves
EUR 2,682,741.76
Balance sheet profit/loss (+/-) EUR 3,313,847.58
Profit / loss brought forward EUR 2,404,132.52
Annual surplus / annual deficit EUR 909,715.06
Items between shareholders' equity and
debt capital EUR 1,605,966.64
Allowances / bonuses EUR 1,605,966.64
Provisions EUR 1,700,941.47
Pension provisions and comparable
provisions EUR 597,958.20
Other / unspecified provisions EUR 1,102,983.27
Liabilities EUR 21,700,930.91
Financial debts EUR
16,113,847.46
Liabilities due to banks EUR 16,113,847.46
Other liabilities EUR 5,587,083.45
Trade creditors (for IAS incl. bills
of exchange) EUR 3,816,489.61
Unspecified other liabilities EUR 1,770,593.84
thereof liabilities from tax /
financial authorities EUR 137,287.08
thereof liabilities from social
security EUR 6,040.19
PROFIT
AND LOSS ACCOUNT (cost-summary method) according to Comm.
Code
(HGB)
Sales EUR 45,737,701.24
Inventory change + own costs (+/-) EUR 541,339.47
Inventory change (+/-) EUR 541,339.47
Other operating income EUR 2,389,546.05
Cost of materials EUR 25,639,018.19
Raw materials and supplies, purchased
goods EUR
22,624,275.78
Purchased services EUR 3,014,742.41
Gross result (+/-) EUR 23,029,568.57
Staff expenses EUR 13,864,668.13
Wages and salaries EUR 11,710,218.74
Social security contributions and
expenses for pension plans and
benefits EUR 2,154,449.39
Total depreciation EUR 2,231,230.24
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus. EUR 2,231,230.24
Other operating expenses EUR 4,656,304.46
Operating result from continuing
operations EUR 2,277,365.74
Interest result (+/-) EUR -1,325,511.33
Interest and similar income EUR 6,673.53
Interest and similar expenses EUR 1,332,184.86
Financial result (+/-) EUR -1,325,511.33
Result from ordinary operations (+/-) EUR
951,854.41
Extraordinary expenses EUR 4,040.60
Extraordinary result (+/-) EUR -4,040.60
Income tax / refund of income tax
(+/-)EUR 1,555.82
Other taxes / refund of taxes EUR -39,654.57
Tax (+/-) EUR -38,098.75
Annual surplus / annual deficit EUR 909,715.06
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.50 |
|
|
1 |
Rs.93.12 |
|
Euro |
1 |
Rs.69.33 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.