MIRA INFORM REPORT

Report No. :	503488
Report Date :	14.04.2018

IDENTIFICATION DETAILS

Name :	HELL GRAVURE SYSTEMS GMBH & CO. KG
Registered Office :	Philipp-Reis-Weg 5, D 24148 Kiel, Post Box: 6005, D 24111 Kiel
Country :	Germany
Date of Incorporation :	21.02.1997
Com. Reg. No.:	HRA 5497 KI
Legal Form :	Ltd Partnership with Priv. Ltd. Company as General Partner
Line of Business :	· Manufacture of other general-purpose machinery · Other service activities n. e. c.
No. of Employees :	Not Available

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

A

Credit Rating	Explanation	Rating Comments
A	Acceptable Risk	Business dealings permissible with moderate risk of default

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

Country Name	Previous Rating (30.09.2017)	Current Rating (31.12.2017)
Germany	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderately Low Risk	B1
Moderate Risk	B2
Moderately High Risk	C1
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 a large increase in 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. The German Government introduced a minimum wage in 2015 that increased to $9.79 (8.84 euros) in January 2017.

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 2016 Germany reached a budget surplus of 0.6%. 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 during 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 largely with renewable energy, which accounted for 29.5% of gross electricity consumption in 2016, 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. Domestic consumption, bolstered by low energy prices and a weak euro, and exports are likely to drive German GDP growth again in 2017.

Source : CIA

Company name & address

HELL GRAVURE SYSTEMS GMBH & CO. KG

Company Status: active

Philipp-Reis-Weg 5

D 24148 Kiel

Post Box:

6005, D 24111 Kiel

Telephone:0431/2377-0

Telefax: 0431/2377-1235

Homepage: www.hell-gravure-systems.com

E-mail: info@hell-gravuren-systems.com

VAT no.: DE812178712

Tax ID number: 19 296 02991

Company Summary

LEGAL FORM Ltd Partnership with Priv. Ltd. Company as General Partner

Date of foundation: 21.02.1997

Begin of business

activities: 21.02.1997

Registered on: 21.12.2006

Register of

companies: Local court 24114 Kiel

under: HRA 5497 KI

Total cap. contribution

EUR 2,000,000.00

Limited partner:

Heliograph Holding GmbH

Konrad-Zuse-Bogen 18

D 82152 Krailling

Legal form: Private limited company

Share capital: EUR 200,000.00

Share: EUR 2,000,000.00

Registered on: 19.12.2008

Reg. data: 80333 München, HRB 176787

General partner:

Hell Gravure Beteiligungs GmbH

Philipp-Reis-Weg 5

D 24148 Kiel

Legal form: Private limited company

Share capital: EUR 25,000.00

Registered on: 08.09.2006

Reg. data: 24114 Kiel, HRB 8368 KI

Shareholder:

Heliograph Holding GmbH

Konrad-Zuse-Bogen 18

D 82152 Krailling

Legal form: Private limited company

Share capital: EUR 200,000.00

Share: EUR 25,000.00

Registered on: 19.12.2008

Reg. data: 80333 München, HRB 176787

Manager:

Maximilian (gen. Max) Rid

Krennerweg 18

D 81479 München

having sole power of representation

born: 21.08.1961

Profession: Fully qualified merchant

Proxy:

Horst Bick

D 24105 Kiel

authorized to jointly represent the company

born: 05.12.1960

Profession: Fully qualified Economist

Proxy:

Burghard Michaelis

D 24582 Bordesholm

authorized to jointly represent the company

born: 23.06.1956

Proxy:

Dr. Martin Steiner

D 24229 Dänischenhagen

authorized to jointly represent the company

born: 29.05.1975

COMPANY HISTORY

Company name and legal form

12.06.2002 - 21.12.2006 HELL Gravure Systems Gesellschaft mit

beschränkter Haftung

Philipp-Reis-Weg 5

D 24148 Kiel

Private limited company

21.02.1997 - 12.06.2002 HELL Gravure Systems Gesellschaft mit

beschränkter Haftung

Dr.-Hell-Str.

D 24107 Kiel

Private limited company

BUSINESS ACTIVITIES

Main industrial sector

28290 Manufacture of other general-purpose machinery

96090 Other service activities n. e. c.

PARTICIPATIONS

Shareholder:

GTC electronic GmbH

Philipp-Reis-Weg 5

D 24148 Kiel

Legal form: Private limited company

Company Status: active

Share capital: EUR 25,600.00

Share: EUR 25,600.00

Reg. data: 24.06.2013

Local court 24114 Kiel

HRB 14925 KI

FINANCIAL INFORMATION

Payment experience: No Complaints

Negative information: We have no negative information at hand.

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 Philipp-Reis-Weg 5

D 24148 Kiel

Real Estate of: Hell Gravure Beteiligungs GmbH

Type of ownership: Tenant

Address Philipp-Reis-Weg 5

D 24148 Kiel

Land register documents were not available.

BANKERS

Principal bank

COMMERZBANK, 24100 KIEL

Sort. code: 21040010

BIC: COBADEFFXXX

Further bank

DEUTSCHE BANK, 24011 KIEL

Sort. code: 21070020

BIC: DEUTDEHH210

FINANCIAL FIGURES

Financial year: 01.01. - 31.12.

The number of employees is not known.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 65.22
UK Pound	1	INR 92.77
Euro	1	INR 80.34
EUR	1	INR 80.51

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

INFORMATION DETAILS

Analysis Done by :	PRA
Report Prepared by :	NIT

RATING EXPLANATIONS

Credit Rating	Explanation	Rating Comments
A++	Minimum Risk	Business dealings permissible with minimum risk of default
A+	Low Risk	Business dealings permissible with low risk of default
A	Acceptable Risk	Business dealings permissible with moderate risk of default
B	Medium Risk	Business dealings permissible on a regular monitoring basis
C	Medium High Risk	Business dealings permissible preferably on secured basis
D	High Risk	Business dealing not recommended or on secured terms only
NB	New Business	No recommendation can be done due to business in infancy stage
NT	No Trace	No recommendation can be done as the business is not traceable

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

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 are as follows:

· Financial condition covering various ratios

· Company background and operations size

· Promoters / Management background

· Payment record

· Litigation against the subject

· Industry scenario / competitor analysis

· Supplier / Customer / Banker review (wherever available)

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.