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MIRA INFORM REPORT
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Report No. : |
493321 |
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Report Date : |
22.02.2018 |
IDENTIFICATION DETAILS
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Name : |
IFG INNOVATIVE FOOD
GERMANY GMBH |
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Registered Office : |
Am Brückhof 8, D 47877
Willich |
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Country : |
Germany |
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Financials (as on) : |
31.12.2016 |
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Date of Incorporation : |
30.11.2007 |
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Com. Reg. No.: |
HRB 11796 |
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Legal Form : |
Private limited company |
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Line of Business : |
Wholesale of food n.e.c. |
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No. of Employees : |
Not available |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
B |
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Credit Rating |
Explanation |
Rating Comments |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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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
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Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
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Germany |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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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 2017 Germany reached a budget surplus of 0.7%. 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 2018.
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Source
: CIA |
Company
name and address
Report on: IFG Innovative Food Germany GmbH
Am Brückhof 8
D 47877 Willich
Telephone:02156/915401
Telefax: 02156/915401
Homepage: www.ifgindia.com
E-mail: info@ifg-germany.de
Company Status: active
CONCLUSION
Business relations are permissible.
Summery
LEGAL FORM Private
limited company
Date of foundation: 30.11.2007
Shareholders'
agreement: 30.11.2007
Registered on: 28.12.2007
Commercial Register: Local court 47798 Krefeld
under: HRB
11796
Share capital: EUR 25,000.00
Shareholder:
Dr. Michael Heintges
An der Kollenburg 1
D 47877 Willich
born: 12.12.1967
Share: EUR 12,500.00
Shareholder:
Shivashankargoud Biradar
Appasaheb
IND Bangalore
born: 01.06.1964
Share: EUR 12,500.00
Manager:
Dr. Michael Heintges
An der Kollenburg 1
D 47877 Willich
having sole power of
representation
born: 12.12.1967
COMPANY
HISTORY
company name and legal form
30.11.2007 - 30.08.2010 IFG Innovative Food Germany GmbH
An der Kollenburg 1
D 47877 Willich
Private limited
company
BUSINESS ACTIVITIES
Main industrial sector
46389
Wholesale of food n.e.c.
FINANCIAL
INFORMATION
Payment experience: Slow
Negative information:We have no negative
information at hand.
Balance sheet year: 2016
REAL ESTATE
Type of ownership: Tenant
Address Am Brückhof 8
D 47877 Willich
Land register documents were not available.
BANKERS
DEUTSCHE BANK, 47877 WILLICH
Sort. code: 32070080
BIC: DEUTDEDD320
FINANCIAL
FIGURES
Liabilities: EUR 333,742.00
The number of employees is not known.
BALANCE SHEETS
Balance sheet ratios 01.01.2016 -
31.12.2016(1)
Equity ratio [%]: -10,020
.82
Liquidity ratio: 0.01
Return on total capital [%]: -1,061.
01
Balance sheet ratios 01.01.2015 -
31.12.2015(1)
Equity ratio [%]: -603.09
Liquidity ratio: 0.14
Return on total capital [%]: -1,029.
18
Balance sheet ratios 01.01.2014 - 31.12.2014(1)
Equity ratio [%]: 33.49
Liquidity ratio: 1.35
Return on total capital [%]: -18.09
Balance sheet ratios 01.01.2013 - 31.12.2013
Equity ratio [%]: 51.80
Liquidity ratio: 1.84
Return on total capital [%]: -15.72
(1) The depth of balance sheet suggests that
the company, as a
so-called micro-entity in accordance with art.
267a German
Commercial Code, has availed itself of the
facilitations of the
German Micro-Entities Amending Account Law
(MicBilG) This is why
it is possible that the resultant reduction of
the depth of
presentation in the annual accounts may entail
deviating
calculation methods of the respective balance
sheet ratios and
thus to an altered Solvency Rating [NG] and/or
balance sheet
grade.
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.
Financial
Type of balance
sheet: micro balance sheet
Origin of the present
balance sheet: Other
Financial year: 01.01.2016 - 31.12.2016 (2)
ASSETS EUR 337,092.41
Fixed assets EUR 594.00
Current assets EUR 1,823.39
Remaining other assets EUR 334,675.02
Accruals (assets) EUR 374.87
Deficit not covered by shareholders'
equity EUR 334,300.15
LIABILITIES EUR 337,092.41
Shareholders' equity EUR 0.00
Provisions EUR 3,350.00
Liabilities EUR 333,742.41
thereof total due to shareholders EUR 54,492.85
Type of balance
sheet: micro balance sheet
Origin of the present
balance sheet: Other
Financial year: 01.01.2015 - 31.12.2015 (2)
ASSETS EUR 350,014.87
Fixed assets EUR 1,098.00
Current assets EUR 43,827.64
Remaining other assets EUR 305,089.23
Accruals (assets) EUR 415.31
Deficit not covered by shareholders'
equity EUR 304,673.92
LIABILITIES EUR 350,014.87
Provisions EUR 3,350.00
Liabilities EUR 346,664.87
thereof total due to shareholders EUR 31,228.61
(2) The abbreviated depth of presentation of
the annual accounts
may be atributed to application of regulations
within the German
Micro-Entities Amending Accounting Law.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 63.81 |
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1 |
INR 90.66 |
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Euro |
1 |
INR 79.94 |
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Euro |
1 |
INR 79.82 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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NIY |
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Report Prepared
by : |
KET |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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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
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Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.