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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

504151

Report Date :

14.04.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

KIRSONS B.V.

 

 

Registered Office :

Evert Van De Beekstraat 104 The Base B, 1118cn Schiphol

 

 

Country :

Netherlands

 

 

Financials (as on) :

31.03.2016

 

 

Date of Incorporation :

11.08.2008

 

 

Com. Reg. No.:

KvK-nummer: 34308680

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

·         Wholesale of electronic and communication equipment and related parts

·         Performing activities and providing services and trading in electronic motors and other products

 

 

No. of Employees :

1

 

 

 

RATING & COMMENTS

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

Netherlands

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

 

 

NETHERLANDS - ECONOMIC OVERVIEW

 

The Netherlands, the sixth-largest economy in the European Union, plays an important role as a European transportation hub, with a consistently high trade surplus, stable industrial relations, and low unemployment. Industry focuses on food processing, chemicals, petroleum refining, and electrical machinery. A highly mechanized agricultural sector employs only 2% of the labor force but provides large surpluses for food-processing and underpins the country’s status as the world’s second largest agricultural exporter.

The Netherlands is part of the euro zone, and as such, its monetary policy is controlled by the European Central Bank. The Dutch financial sector is highly concentrated, with four commercial banks possessing over 80% of banking assets, and is four times the size of Dutch GDP.

In 2008, during the financial crisis, the government budget deficit hit 5.3% of GDP. Following a protracted recession from 2009 to 2013, during which unemployment doubled to 7.4% and household consumption contracted for four consecutive years, economic growth began inching forward in 2014. Since 2010, Prime Minister Mark RUTTE’s government has implemented significant austerity measures to improve public finances and has instituted broad structural reforms in key policy areas, including the labor market, the housing sector, the energy market, and the pension system. In 2017, the government budget returned to a surplus of 0.7% of GDP, with economic growth of 3.2%, and GDP per capita finally surpassed pre-crisis levels. The fiscal policy announced by the new government in the 2018-2021 coalition plans for increases in government consumption and public investment, fueling domestic demand and household consumption and investment. The new government’s policy also plans to increase demand for workers in the public and private sector, forecasting a further decline in the unemployment rate, which hit 4.8% in 2017.

 

Source : CIA

 

Summary

 

Company name

Kirsons B.V.

Operative address

Evert van de Beekstraat 104 The Base B
1118CN Schiphol
Netherlands

Status

Active

 

Legal form

Private Limited Company

Registration number

KvK-nummer: 34308680

VAT-number

819767074

European VAT-number

NL819767074B01

Year

2016

Mutation

2015

Mutation

2014

Fixed assets

889.000

-12,50 

1.016.000

-96,75 

31.258.149

Total receivables

474.656

-0,25 

475.824

-38,30 

771.215

Total equity

1.176.700

-11,15 

1.324.376

-95,50 

29.433.290

Short term liabilities

190.971

2,57 

186.189

-92,90 

2.624.211

Working capital

287.700

-6,70 

308.376

116,90 

-1.824.859

Quick ratio

2,51

-5,64 

2,66

786,67 

0,30

 

 

Contact information

 

Company name

Kirsons B.V.

Trade names

Kirsons B.V.

Operative address

Evert van de Beekstraat 104 The Base B
1118CN Schiphol
Netherlands

Correspondence address

Evert van de Beekstraat 104 The Base B
1118CN Schiphol
Netherlands

 

Telephone number

+919845610620

Fax number

+918023377706

Email address

pralhad.katti@kirloskarelectric.com

 

 

Registration

 

Registration number

KvK-nummer: 34308680

Branch number

000018076025

VAT-number

819767074

European VAT-number

NL819767074B01

Status

Active

First registration company register

2008-08-11

Memorandum

2008-08-11

Establishment date

2008-08-11

 

Legal form

Private Limited Company

Last proposed admendment

2008-12-11

Issued placed capital

EUR 260.200

Paid up share capital

EUR 260.200

 

 

Activities

 

SBI

4652: Wholesale of electronic and communication equipment and related parts

Exporter

No

Importer

Yes

 

Goal

Performing activities and providing services and trading in electronic motors and other products

 

 

Relations

 

Shareholders

Luxquisite Parkland Private Limited
Bangalore 560 096, Flat N MF/50/10, MF
Nandini layout
India
Percentage: 100%

Shareholders

Naam: Luxquisite Parkland Private Limited
Bezoekadres: Bangalore 560 096, Flat No. 10 2nd Floor,, MF/50/10, MF 31 to 59 SFHS, Nandini layout, India
Ingeschreven in: Registrar of Companies Bangalore, Karnataka, India onder nummer U70102KA2014PTC077510
Enig aandeelhouder sedert: 25-03-2015 (datum registratie: 30-03-2015)

 

 

Management

 

Active management

V.R. Kirloskar Vijay Ravindra
Netherlands
Competence: Fully authorized
Function: Manager
Starting date: 2008-08-11
Date of birth: 1951-03-13, Bangalore, IN

 

S.L. Katta Satyanarayana Swapna Latha
Netherlands
Competence: Fully authorized
Function: Manager
Starting date: 2018-03-01
Date of birth: 1975-06-07, Hindupur, NL

 

 

Employees

 

Year

2018

2015

2010

2009

2008

Chamber of Commerce

0

0

1

1

1

 

 

Payments

 

Description

No complaints

 

Payments within industry

Last quarter

Last year

Average payment period (days)

31

33

Average delay (days)

12

14

 

Quarter

Not overdue

1-30

31-60

61-90

91-120

121+

2018 Q2

56,00%

30,00%

11,00%

0,00%

2,00%

0,00%

2018 Q1

59,00%

33,00%

4,00%

2,00%

1,00%

2,00%

2017 Q4

68,00%

25,00%

4,00%

1,00%

1,00%

2,00%

2017 Q3

55,00%

37,00%

4,00%

1,00%

0,00%

3,00%

2017 Q2

58,00%

32,00%

5,00%

1,00%

1,00%

2,00%

The above data is an indication of the average payment behaviour of the client. the payment experieneces can be affected by disputes, payment arrangements, etc.

 

 

Key figures

 

Year

2016

2015

2014

2013

2012

Quick ratio

2,51

2,66

0,30

0,07

1,96

Current ratio

2,51

2,66

0,30

0,07

1,96

Working capital/ balance total

0,21

0,20

-0,06

-0,14

0,11

Equity / balance total

0,86

0,88

0,92

0,80

0,72

Equity / Fixed assets

1,32

1,30

0,94

0,81

0,92

Equity / liabilities

6,16

7,11

11,22

3,92

2,51

Balance total / liabilities

7,16

8,11

12,22

4,92

3,51

Working capital

287.700

308.376

-1.824.859

-4.418.892

3.299.113

Equity

1.176.700

1.324.376

29.433.290

25.266.257

21.387.205

Mutation equity

-11,15

-95,50

16,49

18,14

14,70

Mutation short term liabilities

2,57

-92,90

-44,63

38,53

3.320,29

Summary

The 2016 financial result structure is a postive working captial of 287.700 euro, which is in agreement with 21 % of the total assets of the company.
The working capital has diminished with -6.7 % compared to previous year. The ratio, with respect to the total assets of the company has however, increased.
The deterioration between 2015 and 2016 has mainly been caused by a change of the current liabilities.
The current ratio of the company in 2016 was 2.51. A company with a current ratio between 1.5 and 3.0 generally indicates good short-term financial strength.
The quick ratio in 2016 of the company was 2.51. A company with a Quick Ratio of more than 1 can currently pay back its current liabilities.

The 2015 financial result structure is a postive working captial of 308.376 euro, which is in agreement with 20 % of the total assets of the company.
The working capital has increased with 116.9 % compared to previous year. The ratio, with respect to the total assets of the company has however, increased.
The improvement between 2014 and 2015 has mainly been caused by a change of the current assets.
The current ratio of the company in 2015 was 2.66. A company with a current ratio between 1.5 and 3.0 generally indicates good short-term financial strength.
The quick ratio in 2015 of the company was 2.66. A company with a Quick Ratio of more than 1 can currently pay back its current liabilities.

 

 

Financial statement

 

Last annual account

2016

Remark annual account

The company is obliged to file its financial statements.

Type of annual account

Corporate

Annual account

Kirsons B.V.
Evert van de Beekstraat 104 The Base B
1118CN Schiphol
Netherlands
Registration number: 34308680

 

 

Balance

 

Year

2016

2015

2014

2013

2012

End date

2016-03-31

2015-03-31

2014-03-31

2013-03-31

2012-03-31

Type of annual account

Corporate

Corporate

Corporate

Corporate

Corporate

Intangible fixed assets

889.000

1.016.000

1.143.000

1.270.000

Financial fixed assets

30.115.149

30.115.149

23.188.092

Fixed assets

889.000

1.016.000

31.258.149

31.385.149

23.188.092

Total receivables

474.656

475.824

771.215

304.164

6.683.680

Liquid funds

4.015

18.741

28.137

16.192

36.613

Current assets

478.671

494.565

799.352

320.356

6.720.293

Total assets

1.367.671

1.510.565

32.057.501

31.705.505

29.908.385

Issued capital

255.000

255.000

223.000

188.900

158.300

Share premium reserve

22.152.192

18.199.792

Other reserves

921.700

1.069.376

29.210.290

2.925.165

3.029.113

Total reserves

921.700

1.069.376

29.210.290

25.077.357

21.228.905

Total equity

1.176.700

1.324.376

29.433.290

25.266.257

21.387.205

Long term interest yielding debt

1.700.000

5.100.000

Long term liabilities

1.700.000

5.100.000

Short term liabilities

190.971

186.189

2.624.211

4.739.248

3.421.180

Total short and long term liabilities

190.971

186.189

2.624.211

6.439.248

8.521.180

Total liabilities

1.367.671

1.510.565

32.057.501

31.705.505

29.908.385

Summary

The total assets of the company decreased with -9.46 % between 2015 and 2016.
This downturn is mainly retrievable in the fixed asset decrease of -12.5 %.
The asset reduction results in an equity decrease of -11.15 %. Despite the decrease, the indebtness increased with 2.57 %.
In 2016 the assets of the company were 65 % composed of fixed assets and 35 % by current assets. The assets are being financed by an equity of 86.04 %, and total debt of 13.96 %.

The total assets of the company decreased with -95.29 % between 2014 and 2015.
This downturn is mainly retrievable in the fixed asset decrease of -96.75 %.
Assets reduction is explained by a Net Worth decrease of -95.5 %, and an indebtedness reduction of -92.9 %.
In 2015 the assets of the company were 67.26 % composed of fixed assets and 32.74 % by current assets. The assets are being financed by an equity of 87.67 %, and total debt of 12.33 %.

 

 

Analysis

 

Branch (SBI)

Wholesale of electronic and communication equipment and related parts (SBI code 4652)

Region

Groot-Amsterdam

Summary

In the Netherlands 5340 of the companies are registered with the SBI code 4652
In the region Groot-Amsterdam 595 of the companies are registered with the SBI code 4652
In the Netherlands 25 of the bankrupcties are published within this sector
In the region Groot-Amsterdam 3 of the bankruptcies are published within this sector
The risk of this specific sector in the Netherlands is normal
The risk of this specific sector in the region Groot-Amsterdam is normal

Year

2016

Company

2015

Company

2014

Equity

28.667

1.176.700 

36.132

1.324.376 

57.761

Working capital

41.485

287.700 

33.500

308.376 

50.441

Balance total

193.000

1.367.671 

235.971

1.510.565 

283.197

Quick ratio

1,13

2,51 

1,13

2,66 

1,18

Current ratio

1,47

2,51 

1,47

2,66 

1,57

Equity / balance total

0,29

0,86 

0,30

0,88 

0,33

 

 

Publications

 

Deposits

17-08-2016: De jaarrekening over 2016 (gebroken boekjaar) is gepubliceerd.
12-10-2015: De jaarrekening over 2015 (gebroken boekjaar) is gepubliceerd.
30-09-2014: De jaarrekening over 2014 (gebroken boekjaar) is gepubliceerd.
20-09-2013: De jaarrekening over 2013 (gebroken boekjaar) is gepubliceerd.

Functions

27-03-2018: Per 01-03-2018 is bestuurder Swapna Latha Katta Satyanarayana in functie getreden.
27-03-2018: Per 28-02-2018 is bestuurder Pralhad Pranesh Katti uit functie getreden.
18-07-2017: Per 22-06-2017 is bestuurder Vinayak Narayan Bapat uit functie getreden.

Other

01-08-2017: ... Datum deponering: 28-07-2017 Boekjaar: 2017 Soort deponering: Geconsolideerde jaarrekening (art. 408 BW2).
12-10-2015: ... Datum deponering: 08-10-2015 Boekjaar: 2015 Soort deponering: Geconsolideerde jaarrekening (art. 408 BW2).
09-10-2014: ... Datum deponering: 07-10-2014 Soort deponering: Geconsolideerde jaarrekening (art. 408 BW2).
15-03-2018: Geplaatst kapitaal gewijzigd in EUR 260.200,00 Gestort kapitaal gewijzigd in EUR 260.200,00.
23-11-2017: Geplaatst kapitaal gewijzigd in EUR 258.600,00 Gestort kapitaal gewijzigd in EUR 258.600,00.
17-03-2017: Geplaatst kapitaal gewijzigd in EUR 255.500,00 Gestort kapitaal gewijzigd in EUR 255.500,00.
16-03-2017: Geplaatst kapitaal gewijzigd in EUR 255.401,00 Gestort kapitaal gewijzigd in EUR 255.401,00.
07-10-2016: Geplaatst kapitaal gewijzigd in EUR 255.400,00 Gestort kapitaal gewijzigd in EUR 255.400,00.
26-02-2015: Geplaatst kapitaal gewijzigd in EUR 255.000,00 Gestort kapitaal gewijzigd in EUR 255.000,00.
09-01-2015: Geplaatst kapitaal gewijzigd in EUR 247.700,00 Gestort kapitaal gewijzigd in EUR 247.700,00.

 

 

Company structure

 

Relations

2

Company

Registration number

Luxquisite Parkland Private Limited (Nandini layout)

| - - Kirsons B.V. (Schiphol)

34308680  

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 65.22

UK Pound

1

INR 92.77

Euro

1

INR 80.34

Euro

1

INR  80.51

 

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

 

 

INFORMATION DETAILS

 

Analysis Done by :

PRI

 

 

Report Prepared by :

KET

                                                


 

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.