MIRA INFORM REPORT

 

 

Report No. :

352093

Report Date :

28.11.2015

 

IDENTIFICATION DETAILS

 

Name :

FASTBOLT SCHRAUBENGROSSHANDELS GMBH

 

 

Registered Office :

Am Königsweg 4, D 48599 Gronau

 

 

Country :

Germany

 

 

Financials (as on) :

31.12.2013

 

 

Year of Establishment :

1985

 

 

Com. Reg. No.:

HRB 5796

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Wholesale of Tools and Hardware.

 

 

No. of Employees :

53

 

 

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

 

FASTBOLT SCHRAUBENGROSSHANDELS GMBH

 

 Company Status:      active

                      Am Königsweg 4

                      D 48599 Gronau

                      Telephone:02565/93250

                      Telefax:  02565/932593

                      Homepage: www.fastbolt.com

                      E-mail:   info@fastbolt.com

 

 

VAT no.           

 

 DE123765394

 

 

CONCLUSION

 

 Business relations are permissible.

 

 

Company Summary

 

 LEGAL FORM              Private limited company

 Date of foundation:      1985

 Begin of business

 activities:                                 08.05.1992

 Shareholders'

 agreement:                   12.03.1992

 Registered on:             08.05.1992

 Commercial Register:   Local court 48653 Coesfeld

 under:                          HRB 5796

 

 

Share capital                       

 

EUR            255,645.94

 

 Shareholder:

                      Fastbolt Distributors (VK) Ltd Sherbourne

                      Drive

                      Tilbrook

                      GB  GB - Milton Keyndes MK 7 8 AW

                      Legal form: Other legal form

                      Share:             EUR            253,089.48

 Shareholder:

                      Rainer Storch

                      Nachtigallenstr. 43

                      D 48599 Gronau

                      Share:             EUR              2,556.46

 Manager:

                      Ekkehard Beermann

                      D 48599 Gronau

                      having sole power of representation

                      born: 10.05.1973

 Proxy:

                      Jürgen Klein

                      Schlehenweg 12

                      D 48712 Gescher

                      authorized to jointly represent the company

                      born: 13.09.1972

 Proxy:

                      Claudia Visschedyk

                      D 48599 Gronau

                      authorized to jointly represent the company

                      born: 04.09.1964

 

 Further functions/participations of Ekkehard Beermann (Manager)

 Manager:

                      Fastbolt Group GmbH

                      Am Königsweg 4

                      D 48599 Gronau

                      Legal form: Private limited company

                      Share capital:     EUR             73,750.00

                      Registered

                      on:         21.11.2012

                      Reg. data:  48653 Coesfeld, HRB 14180

 

 

BUSINESS ACTIVITIES

 

 Main industrial sector

 46741   Wholesale of tools and hardware

 

 

FINANCIAL INFORMATION

 

Payment experience:  within agreed terms

 

Negative information:We have no negative information at hand.

 

Balance sheet year:  2013

 

 

REAL ESTATE

 

 Type of ownership:       Tenant

 Address                       Am Königsweg 4

                                    D 48599 Gronau

 

 Land register documents were not available.

 

 

BANKERS

 

 Principal bank

 DEUTSCHE BANK, 48599 GRONAU (WESTF.)

 Sort. code: 40370079

 BIC: DEUTDE3B403

 

 Further banks

 COMMERZBANK, 48136 MÜNSTER, WESTF

 Sort. code: 40040028

 BIC: COBADEFFXXX

 VOLKSBANK GRONAU-AHAUS, 48599 GRONAU (WESTF.)

 Sort. code: 40164024

 BIC: GENODEM1GRN

 

 

FINANCIAL FIGURES

 

 Gross profit or loss:2013               EUR          4,906,655.00

                      2014              *EUR          4,950,000.00

 Profit:              2013               EUR            437,932.00

 further business figures:

 Equipment:                              EUR            235,339.00

 Ac/ts receivable:                       EUR          2,050,628.00

 Liabilities:                            EUR          5,525,357.00

 Employees:                                                     53

 - thereof permanent staff:                                     53

 

 The business figures marked with an asterisk are estimates based on average values in the line of business.

 

 

BALANCE SHEETS

 

 Balance sheet ratios 01.01.2013 - 31.12.2013

 Equity ratio [%]:                 50.71

 Liquidity ratio:                   0.51

 Return on total capital [%]:       3.68

 

 Balance sheet ratios 01.01.2012 - 31.12.2012

 Equity ratio [%]:                 48.98

 Liquidity ratio:                   0.38

 Return on total capital [%]:       2.67

 

 Balance sheet ratios 01.01.2011 - 31.12.2011

 Equity ratio [%]:                 40.58

 Liquidity ratio:                   0.27

 Return on total capital [%]:      15.10

 

 Balance sheet ratios 01.01.2010 - 31.12.2010

 Equity ratio [%]:                 36.66

 Liquidity ratio:                   0.43

 Return on total capital [%]:       9.71

 

 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:      01.01.2013 - 31.12.2013

 

 ASSETS                                  EUR         12,010,854.77

  Fixed assets                           EUR          1,316,823.00

   Intangible assets                     EUR             51,891.00

   Tangible assets                       EUR          1,264,932.00

    Land / similar rights                EUR            995,683.00

    Plant / machinery                    EUR             33,910.00

    Other tangible assets / fixtures and

    fittings                             EUR            235,339.00

  Current assets                         EUR         10,646,027.68

   Stocks                                EUR          6,953,582.24

   Accounts receivable                   EUR          2,050,628.16

    Amounts due from shareholders        EUR             73,951.93

    Amounts due from related companies   EUR            498,599.19

    Other debtors and assets             EUR          1,478,077.04

   Liquid means                          EUR          1,641,817.28

  Remaining other assets                 EUR             48,004.09

   Accruals (assets)                     EUR             48,004.09

 

 LIABILITIES                             EUR         12,010,854.77

  Shareholders' equity                   EUR          6,139,640.56

   Capital                               EUR            255,645.94

    Subscribed capital (share capital)   EUR            255,645.94

   Reserves                              EUR            652,645.94

    Capital reserves                     EUR            652,645.94

   Balance sheet profit/loss (+/-)       EUR          5,231,348.68

    Profit / loss brought forward        EUR          4,793,416.68

    Annual surplus / annual deficit      EUR            437,932.00

  Items between shareholders' equity and

  debt capital                           EUR                937.00

   Allowances / bonuses                  EUR                937.00

  Provisions                             EUR            344,920.00

  Liabilities                            EUR          5,525,357.21

   Financial debts                       EUR          3,775,549.29

    Liabilities due to banks             EUR          3,775,549.29

   Other liabilities                     EUR          1,749,807.92

    Unspecified other liabilities        EUR          1,749,807.92

 

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

 Code (HGB)

  Gross result (+/-)                     EUR          4,906,655.33

  Staff expenses                         EUR          1,907,329.77

   Wages and salaries                    EUR          1,632,258.50

   Social security contributions and

   expenses for pension plans and

   benefits                              EUR            275,071.27

  Total depreciation                     EUR            124,025.65

   Depreciation on tangible / intangible

   asssets (incl. start-up and exp. of

   bus.                                  EUR            124,025.65

  Other operating expenses               EUR          2,021,712.47

  Operating result from continuing

  operations                             EUR            853,587.44

  Interest result (+/-)                  EUR           -197,290.06

   Interest and similar income           EUR              9,360.06

    thereof from related companies       EUR                  0.00

   Interest and similar expenses         EUR            206,650.12

  Financial result (+/-)                 EUR           -197,290.06

  Result from ordinary operations (+/-)  EUR            656,297.38

  Income tax / refund of income tax (+/-)EUR           -203,475.07

  Other taxes / refund of taxes          EUR            -14,890.31

  Tax (+/-)                              EUR           -218,365.38

  Annual surplus / annual deficit        EUR            437,932.00

 

 Type of balance

 sheet:               Company balance sheet

 Origin of the present

 balance sheet:       electronic German Federal Gazette

 

 Financial year:      01.01.2012 - 31.12.2012

 

 ASSETS                                  EUR         11,538,408.28

  Fixed assets                           EUR          1,267,916.00

   Intangible assets                     EUR             52,307.00

   Tangible assets                       EUR          1,215,609.00

    Land / similar rights                EUR            892,610.00

    Plant / machinery                    EUR             39,175.00

    Other tangible assets / fixtures and

    fittings                             EUR            283,824.00

  Current assets                         EUR         10,201,284.14

   Stocks                                EUR          7,683,830.25

   Accounts receivable                   EUR          2,053,644.71

    thereof total due from shareholders  EUR             73,951.93

   Liquid means                          EUR            463,809.18

  Remaining other assets                 EUR             69,208.14

   Accruals (assets)                     EUR             69,208.14

 

 LIABILITIES                             EUR         11,538,408.28

  Shareholders' equity                   EUR          5,701,708.56

   Capital                               EUR            255,645.94

    Subscribed capital (share capital)   EUR            255,645.94

   Reserves                              EUR            652,645.94

    Capital reserves                     EUR            652,645.94

   Balance sheet profit/loss (+/-)       EUR          4,793,416.68

    Profit / loss brought forward        EUR          4,487,932.44

    Annual surplus / annual deficit      EUR            305,484.24

  Items between shareholders' equity and

  debt capital                           EUR              2,155.00

   Allowances / bonuses                  EUR              2,155.00

  Provisions                             EUR            184,200.00

  Liabilities                            EUR          5,650,344.72

 

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

 Code (HGB)

  Gross result (+/-)                     EUR          4,832,965.09

  Staff expenses                         EUR          1,832,926.25

   Wages and salaries                    EUR          1,554,138.57

   Social security contributions and

   expenses for pension plans and

   benefits                              EUR            278,787.68

  Total depreciation                     EUR            194,705.50

   Depreciation on tangible / intangible

   asssets (incl. start-up and exp. of

   bus.                                  EUR            194,705.50

  Other operating expenses               EUR          2,080,426.09

  Operating result from continuing

  operations                             EUR            724,907.25

  Interest result (+/-)                  EUR           -257,069.38

   Interest and similar income           EUR             12,277.06

    thereof from related companies       EUR              1,265.31

   Interest and similar expenses         EUR            269,346.44

    thereof paid to related companies    EUR                  0.00

  Financial result (+/-)                 EUR           -257,069.38

  Result from ordinary operations (+/-)  EUR            467,837.87

  Income tax / refund of income tax (+/-)EUR           -149,679.15

  Other taxes / refund of taxes          EUR            -12,674.48

  Tax (+/-)                              EUR           -162,353.63

  Annual surplus / annual deficit        EUR            305,484.24

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.66.75

UK Pound

1

Rs.100.68

Euro

1

Rs.70.88

EUR

1

Rs.70.77

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

 

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

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%)

 

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.