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Report No. : |
330353 |
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Report Date : |
08.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
RÜTEX TEXTILHANDELSGESELLSCHAFT
M.B.H. |
|
|
|
|
Registered Office : |
Rönneterring 11,
D 41068 Mönchengladbach |
|
|
|
|
Country : |
Germany |
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|
|
|
Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
30.08.1985 |
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|
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Com. Reg. No.: |
HRB 2816 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
·
Wholesale
of other equipment and accessories for machinery and technical supplies · Wholesale of other intermediate goods |
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|
No. of Employees : |
14 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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|
|
|
Payment Behaviour : |
Slow but correct |
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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 – 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 |
RÜTEX
TEXTILHANDELSGESELLSCHAFT M.B.H.
Company Status:
active
Rönneterring 11
D 41068 Mönchengladbach
Telephone:02161/95300
Telefax: 02161/52086
Homepage: www.ruetex.de
E-mail: info@ruetex.de
DE120498819
121/5743/0437
Business relations are permissible.
LEGAL FORM Private
limited company
Date of foundation: 1985
Registered on: 30.08.1985
Commercial Register: Local court 41061 Mönchengladbach
under: HRB
2816
EUR 545,000.00
Shareholder:
Rütters GmbH & Co. KG
Rönneterring 11
D 41068 Mönchengladbach
Legal form: Ltd
partnership with priv. ltd.
company as general
partner
Total cap. EUR 25,000.00
contribution:
Share: EUR 512,300.00
Registered on: 16.07.2002
Reg. data: 41061
Mönchengladbach, HRA 3817
Shareholder:
Stefan
Hüskes
Mußkamp 10
D 41334 Nettetal
born: 04.01.1966
Share: EUR 32,700.00
Manager:
Stefan Hüskes
Mußkamp 10
D 41334 Nettetal
having sole power of
representation
born: 04.01.1966
Profession: Industrial
manager
Manager:
Knut Rütters
Haiderfeldstr. 27
D 41063 Mönchengladbach
having sole power of
representation
born: 06.10.1977
Profession: Businessman
Proxy:
Ina Rütters
Parkstr. 41
D 41061 Mönchengladbach
born: 10.04.1979
Proxy:
Gerald
Karl Josef Schöndeling
Voerdenweg 8
D 47608 Geldern
having sole power of
representation
born: 25.07.1969
Further functions/participations of Stefan
Hüskes (Manager)
Limited partner:
PASSION FOR FLOORS GmbH
& Co. KG
Rönneterring 11
D 41068 Mönchengladbach
Legal form: Ltd partnership with priv. ltd.
company as
general partner
Total cap. EUR 25,000.00
contribution:
Share: EUR 1,250.00
Registered
on: 24.11.2009
Reg. data: 41061 Mönchengladbach, HRA 6532
Shareholder:
K.H.
Rütters Textilvertretungsgesellschaft
mbH
Rönneterring 11
D 41068 Mönchengladbach
Legal form: Private
limited company
Share capital: EUR 57,500.00
Share: EUR 3,450.00
Registered
on: 23.12.1982
Reg. data: 41061 Mönchengladbach, HRB 1925
Manager:
K.H. Rütters
Textilvertretungsgesellschaft
mbH
Rönneterring 11
D 41068 Mönchengladbach
Legal form: Private
limited company
Share capital: EUR 57,500.00
Registered
on: 23.12.1982
Reg. data: 41061 Mönchengladbach, HRB 1925
Further functions/participations of Knut
Rütters (Manager)
Limited partner:
PASSION FOR FLOORS GmbH
& Co. KG
Rönneterring 11
D 41068 Mönchengladbach
Legal form: Ltd
partnership with priv. ltd.
company as
general partner
Total cap. EUR
25,000.00
contribution:
Share: EUR 18,750.00
Registered
on: 24.11.2009
Reg. data: 41061 Mönchengladbach, HRA 6532
Limited partner:
Rütters GmbH & Co. KG
Rönneterring 11
D 41068 Mönchengladbach
Legal form: Ltd
partnership with priv. ltd.
company as general partner
Total cap. EUR 25,000.00
contribution:
Share: EUR 12,500.00
Registered
on: 16.07.2002
Reg. data: 41061 Mönchengladbach, HRA 3817
Shareholder:
PASSION
FOR FLOORS Verwaltungs GmbH
Rönneterring 11
D 41068 Mönchengladbach
Legal form: Private limited company
Share capital: EUR 25,000.00
Share: EUR 25,000.00
Registered
on: 10.11.2009
Reg. data: 41061 Mönchengladbach, HRB 13489
Shareholder:
Rütters Franzstraße
Immobilien GmbH
D 52062 Aachen
Legal form: Private limited company
Share capital: EUR 25,000.00
Share: EUR 18,725.00
Registered
on: 29.03.2012
Reg. data: 52070 Aachen, HRB 17485
Shareholder:
Rütters Verwaltungs GmbH
Rönneterring 11
D 41068 Mönchengladbach
Legal form: Private
limited company
Share capital: EUR 25,000.00
Share: EUR 12,500.00
Registered
on: 03.07.2002
Reg. data: 41061 Mönchengladbach, HRB 6976
Manager:
Rütters Verwaltungs GmbH
Rönneterring 11
D 41068 Mönchengladbach
Legal form: Private
limited company
Share capital: EUR 25,000.00
Registered
on: 03.07.2002
Reg.
data: 41061 Mönchengladbach, HRB 6976
Manager:
K.H. Rütters
Textilvertretungsgesellschaft
mbH
Rönneterring 11
D 41068 Mönchengladbach
Legal form: Private
limited company
Share capital: EUR 57,500.00
Registered
on: 23.12.1982
Reg.
data: 41061 Mönchengladbach, HRB 1925
Manager:
PASSION FOR FLOORS
Verwaltungs GmbH
Rönneterring 11
D 41068 Mönchengladbach
Legal form: Private
limited company
Share
capital: EUR 25,000.00
Registered
on: 10.11.2009
Reg. data: 41061 Mönchengladbach, HRB 13489
Manager:
Rütters Franzstraße
Immobilien GmbH
D 52062 Aachen
Legal form: Private
limited company
Share capital: EUR 25,000.00
Registered
on: 29.03.2012
Reg. data: 52070 Aachen, HRB 17485
Main industrial sector
46693
Wholesale of other equipment and accessories for machinery and technical
supplies
4676
Wholesale of other intermediate goods
Trade in textiles – especially in drapery
and yarns.
Payment experience: within agreed terms
Negative information:We have no negative
information at hand.
Balance sheet year: 2012
Type of ownership: Tenant
Address Rönneterring
11
D 41068 Mönchengladbach
Land register documents were not available.
Principal bank
COMMERZBANK, 41012 MÖNCHENGLADBACH
Sort. code: 31040015
BIC:
COBADEFFXXX
Further banks
DEUTSCHE BANK, 41061 MÖNCHENGLADBACH
Sort. code: 31070001
BIC: DEUTDEDD310
BNP
PARIBAS NIEDERLASSUNG DEUTSCHLAND, 60327 FRANKFURT AM MAIN
Sort. code: 37010600
BIC: GEBADE33XXX
Turnover: 2013 *EUR 20,200,000.00
2014 *EUR 20,850,000.00
further business figures:
Equipment: EUR 101,364.00
Ac/ts receivable: EUR 3,652,473.00
Liabilities: EUR 1,790,895.00
Employees:
14
- thereof permanent staff: 14
The business figures marked with an asterisk
are estimates based on average values in the line of business.
Balance sheet ratios 01.01.2012 - 31.12.2012
Equity ratio [%]: 67.88
Liquidity ratio: 10.00
Return on total capital [%]: 11.84
Balance sheet ratios 01.01.2011 - 31.12.2011
Equity ratio [%]: 63.06
Liquidity ratio: 10.00
Return on total capital [%]: 10.34
Balance sheet ratios 01.01.2010 - 31.12.2010
Equity ratio [%]: 55.46
Liquidity ratio: 3.49
Return on total capital [%]: 7.59
Balance sheet ratios 01.01.2009 - 31.12.2009
Equity ratio [%]: 58.14
Liquidity ratio: 10.00
Return on total capital [%]: 10.17
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 11,135,527.90
Fixed assets EUR 101,445.00
Intangible assets EUR 80.00
Concessions, licences, rights EUR 80.00
Tangible assets EUR 101,365.00
Plant / machinery EUR 1.00
Other tangible assets / fixtures and
fittings EUR 101,364.00
Current assets EUR 11,030,199.39
Stocks EUR 1,866,560.52
Accounts receivable EUR 3,652,473.40
Investments in current assets EUR 1,192,362.97
Liquid means EUR 4,318,802.50
Remaining other assets EUR 3,883.51
Accruals (assets) EUR 3,883.51
LIABILITIES EUR 11,135,527.90
Shareholders' equity EUR 7,554,760.48
Capital EUR 545,000.00
Subscribed capital (share capital) EUR 545,000.00
Reserves EUR 63,934.17
Capital reserves EUR 63,934.17
Balance sheet profit/loss (+/-) EUR 6,945,826.31
Profit / loss brought forward EUR 5,627,862.15
Annual surplus / annual deficit EUR 1,317,964.16
Provisions EUR 1,789,872.65
Liabilities EUR 1,790,894.77
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code (HGB)
Gross result (+/-) EUR 3,394,459.69
Staff expenses EUR 1,052,803.76
Wages and salaries EUR 923,079.69
Social security contributions and
expenses for pension plans and
benefits EUR 129,724.07
Total depreciation EUR 40,933.40
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus. EUR 40,933.40
Other operating expenses EUR 516,586.38
Operating result from continuing
operations EUR 1,784,136.15
Interest result (+/-) EUR 127,601.84
Interest and similar income EUR 155,383.26
Interest and similar expenses EUR 27,781.42
Other financial result EUR 15,745.07
Income from securities and loans from
financial assets EUR 15,745.07
Financial result (+/-) EUR 143,346.91
Result from ordinary operations (+/-) EUR
1,927,483.06
Income tax / refund of income tax
(+/-)EUR -608,516.90
Other taxes / refund of taxes EUR -1,002.00
Tax (+/-) EUR -609,518.90
Annual surplus / annual deficit EUR 1,317,964.16
Type of balance sheet: Company
balance sheet
Financial year: 01.01.2011
- 31.12.2011
ASSETS EUR 10,630,989.19
Fixed assets EUR 137,055.00
Intangible assets EUR 180.00
Concessions, licences, rights EUR 180.00
Tangible assets EUR 136,875.00
Plant / machinery EUR 1.00
Other tangible assets / fixtures and
fittings EUR 136,874.00
Current assets EUR 10,487,325.17
Stocks EUR 2,331,436.17
Other / unspecified stocks EUR 2,331,436.17
Accounts receivable EUR 4,578,212.06
Other debtors and assets EUR 4,578,212.06
Investments in current assets EUR
386,926.60
Other investments EUR 386,926.60
Liquid means EUR 3,190,750.34
Remaining other assets EUR 6,609.02
Accruals (assets) EUR 6,609.02
LIABILITIES EUR 10,630,989.19
Shareholders' equity EUR 6,696,796.32
Capital EUR 545,000.00
Subscribed capital (share capital) EUR 545,000.00
Reserves EUR 63,934.17
Capital reserves EUR 63,934.17
Balance sheet profit/loss (+/-) EUR 6,087,862.15
Profit / loss brought forward EUR 4,988,803.91
Annual surplus / annual deficit EUR 1,099,058.24
Provisions EUR 1,906,262.23
Other / unspecified provisions EUR 1,906,262.23
Liabilities EUR 2,027,930.64
Other liabilities EUR 2,027,930.64
Unspecified other liabilities EUR 2,027,930.64
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code (HGB)
Sales EUR 19,937,560.72
Other operating income EUR 510,083.89
Cost of materials EUR 16,010,238.90
Raw materials and supplies, purchased
goods EUR 15,923,786.75
Purchased services EUR 86,452.15
Gross result (+/-) EUR 4,437,405.71
Staff expenses EUR 1,073,858.13
Wages and salaries EUR 946,704.06
Social security contributions and
expenses for pension plans and
benefits EUR 127,154.07
Total depreciation EUR 45,363.91
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus. EUR 45,363.91
Other operating expenses EUR 1,761,245.12
Operating result from continuing
operations EUR 1,556,938.55
Interest result (+/-) EUR 19,433.11
Interest and similar income EUR 45,314.76
Interest and similar expenses EUR 25,881.65
Other financial result EUR -990.14
Income from securities and loans from
financial assets EUR 2,382.00
Depreciation on financial assets and
marketable securities EUR 3,372.14
Financial result (+/-) EUR 18,442.97
Result from ordinary operations (+/-) EUR
1,575,381.52
Income tax / refund of income tax
(+/-)EUR -475,167.28
Other taxes / refund of taxes EUR -1,156.00
Tax (+/-) EUR -476,323.28
Annual surplus / annual deficit
EUR 1,099,058.24
Accounts – more topical – have not been
published by the company so far.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.37 |
|
|
1 |
Rs.98.86 |
|
Euro |
1 |
Rs.69.97 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
NIT |
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.