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Report No. : |
327164 |
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Report Date : |
11.06.2015 |
IDENTIFICATION DETAILS
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Name : |
CASHMIR CONCEPT GMBH |
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Registered Office : |
Hanns-Martin-Schleyer-Str. 41 D 47877 Willich |
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Country : |
Germany |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
10.10.1995 |
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Com. Reg. No.: |
HRB 5947 |
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Legal Form : |
Private limited company |
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Line of Business : |
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No of Employees : |
7 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 – 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 Risk |
A2 |
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Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
|
Very High Risk |
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 5.3% 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. 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 accounts for 34% of total energy consumption, 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.
|
Source
: CIA |
Cashmir Concept GmbH
Hanns-Martin-Schleyer-Str. 41
D 47877 Willich
Telephone:02154/95334-0
Telefax:
02154/95334-29
Homepage: www.cashmirconcept.com
E-mail:
info@cashmirconcept.com
Active
DE180716412
LEGAL FORM Private
limited company
Date of foundation: 10.10.1995
Shareholders'
agreement: 10.10.1995
Registered on: 29.07.1996
Commercial Register: Local court 47798 Krefeld
under: HRB
5947
Share capital: EUR 52,000.00
Shareholder:
Javed Ahmed Hakim
D 47803 Krefeld
Share: EUR 26,000.00
Shareholder:
Jabeen Nusrat
207-B Kennwood Tower
Charmwood
Village
IND 121001 Faridabad,
Haryany
born: 01.05.1969
Share: EUR 16,640.00
Shareholder:
Abrar Hussain Hakim
C-27 Convent Lane Rajbagh
IND - Srinagar
born: 06.03.1964
Share: EUR 9,360.00
Manager:
Javed Ahmed Hakim
D 47803 Krefeld
having sole power of
representation
Profession: Businessman
Nationality: Indian
Manager:
Jabeen Nusrat
207-B Kennwood Tower
Charmwood
Village
IND 121001 Faridabad,
Haryany
having sole power of
representation
born: 01.05.1969
Nationality: Indian
10.10.1995 - 24.04.2003 Cashmir-Teppich-Import-Export GmbH
Südwall 18
D 47798
Krefeld
Private
limited company
24.04.2003 - 06.07.2007 Cashmir Concept GmbH
Südwall 18
D 47798
Krefeld
Private
limited company
Main industrial sector
46410
Wholesale of textiles
46421
Wholesale of clothing
46470
Wholesale of furniture, carpets and rugs and lighting
47530
Retail sale of carpets, rugs, wall and floor coverings
Payment experience: within
periods customary in this trade
Negative information: We have no negative information at hand.
Balance sheet year: 2013
Type of ownership: Tenant
Address Hanns-Martin-Schleyer-Str.
41
D 47877 Willich
Land register documents were not available.
SPARKASSE KREFELD, 47719 KREFELD
Sort. code: 32050000
BIC: SPKRDE33XXX
Profit:
2013 EUR 24,822.00
Ac/ts receivable: EUR 364,402.00
Liabilities: EUR 2,452,040.00
Total numbers of vehicles: 1
Employees:
7
Balance sheet ratios 01.01.2013 - 31.12.2013
Equity ratio [%]: 18.94
Liquidity ratio: 0.16
Return on total capital [%]: 0.90
Balance sheet ratios 01.01.2012 - 31.12.2012
Equity ratio [%]: 13.76
Liquidity ratio: 0.24
Return on total capital [%]: 0.17
Balance sheet ratios 01.01.2011 - 31.12.2011
Equity ratio [%]: 16.42
Liquidity ratio: 0.25
Return on total capital [%]: 0.34
Balance sheet ratios 01.01.2010 - 31.12.2010
Equity ratio [%]: 15.73
Liquidity ratio: 0.17
Return on total capital [%]: 1.07
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 2,777,820.53
Fixed
assets EUR 32,846.00
Intangible
assets EUR 882.00
Tangible
assets EUR 31,964.00
Current
assets EUR
2,696,378.43
Stocks EUR 2,319,230.00
Accounts
receivable EUR 364,401.93
Liquid
means EUR 12,746.50
Remaining
other assets EUR 48,596.10
Accruals
(assets) EUR 48,596.10
LIABILITIES EUR 2,777,820.53
Shareholders'
equity EUR 316,663.48
Capital EUR 52,000.00
Subscribed
capital (share capital) EUR 52,000.00
Balance
sheet profit/loss (+/-) EUR 264,663.48
Profit /
loss brought forward EUR 239,841.36
Annual surplus
/ annual deficit EUR 24,822.12
Provisions EUR 9,117.00
Liabilities EUR 2,452,040.05
Type of balance sheet:
Company
balance sheet
Financial year: 01.01.2012
- 31.12.2012
ASSETS EUR 3,159,493.88
Fixed
assets EUR 36,041.00
Intangible
assets EUR 5.00
Other /
unspecified intangible assetsEUR 5.00
Tangible
assets EUR 36,036.00
Other /
unspecified tangible assets EUR 36,036.00
Current
assets EUR 3,068,364.97
Stocks EUR 2,398,540.46
Accounts
receivable EUR 669,103.97
Other
debtors and assets EUR 669,103.97
Liquid
means EUR 720.54
Remaining
other assets EUR 55,087.91
Accruals
(assets) EUR 55,087.91
LIABILITIES EUR 3,159,493.88
Shareholders'
equity EUR 291,841.36
Capital EUR 52,000.00
Subscribed
capital (share capital) EUR 52,000.00
Balance
sheet profit/loss (+/-) EUR 239,841.36
Profit /
loss brought forward EUR 234,377.57
Annual
surplus / annual deficit EUR 5,463.79
Provisions EUR 5,100.00
Liabilities EUR 2,862,552.52
Other
liabilities EUR 2,862,552.52
Unspecified
other liabilities EUR 2,862,552.52
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 63.88 |
|
|
1 |
Rs. 98.47 |
|
Euro |
1 |
Rs. 72.14 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
DPT |
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 |
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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 |
|
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.