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MIRA INFORM REPORT
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Report No. : |
492632 |
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Report Date : |
20.02.2018 |
IDENTIFICATION DETAILS
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Name : |
COMAZO GMBH + CO. KG |
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Registered Office : |
Martin-Luther-Str. 1, D 72461 Albstadt |
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Country : |
Germany |
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Financials (as on) : |
31.12.2015 |
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Date of Incorporation : |
1884 |
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Com. Reg. No.: |
HRA 400084 |
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Legal Form : |
Ltd Partnership with Priv. Ltd. Company as General Partner |
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Line of Business : |
· Manufacture of knitted and crocheted underwear (except corsetry) · Manufacture of other wearing apparel and accessories n.e.c. · Wholesale of clothing · Washing and (dry-) cleaning of textile and fur products |
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No. of Employees : |
185 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 & address
COMAZO GMBH + CO. KG
Company Status: active
Martin-Luther-Str. 1
D 72461 Albstadt
Telephone:07432/7019-0
Telefax: 07432/7019-211
Homepage: www.comazo.de
E-mail: info@comazo.de
VAT no.: DE144842005
Tax ID number: 53087/00760
LEGAL FORM Ltd Partnership with Priv. Ltd. Company as General Partner
Date of foundation: 1884
Registered on: 01.05.1909
Register of
companies: Local court 70190 Stuttgart
under: HRA 400084
Total cap. contribution: EUR 596,507.21
Limited partner:
Dr. Christoph Maier
Degerfeldstr. 50
D 72461 Albstadt
born: 06.01.1967
Share: EUR 417,555.18
Limited partner:
Katharina Maier
Wilhelm-Busch-Weg 15
D 72461 Albstadt
born: 18.10.1985
Share: EUR 37,281.66
Limited partner:
Matthias Maier
Wilhelm-Busch-Weg 15
D 72461 Albstadt
born: 25.09.1986
Share: EUR 37,281.66
Limited partner:
Caroline Maier
Wilhelm-Busch-Weg 15
D 72461 Albstadt
born: 12.12.1987
Share: EUR 37,281.66
Limited partner:
Andreas Maier
Wilhelm-Busch-Weg 15
D 72461 Albstadt
born: 12.08.1989
Share: EUR 37,281.66
Limited partner:
Inge Maier
Degerfeldstr. 50
D 72461 Albstadt
née: Strähler
Share: EUR 29,825.39
General partner:
C. Maier Textilhandels- und
Beteiligungsgesellschaft mbH
Martin-Luther-Str. 1
D 72461 Albstadt
Legal form: Private limited company
Share capital: EUR 25,564.59
Registered on: 05.06.1990
Reg. data: 70190 Stuttgart, HRB 400570
Shareholder:
Dr. Christoph Maier
Degerfeldstr. 50
D 72461 Albstadt
born: 06.01.1967
Share: EUR 19,045.62
Shareholder:
Katharina Maier
Wilhelm-Busch-Weg 15
D 72461 Albstadt
born: 18.10.1985
Share: EUR 3,187.50
Shareholder:
Matthias Maier
Wilhelm-Busch-Weg 15
D 72461 Albstadt
born: 25.09.1986
Share: EUR 3,187.50
Shareholder:
Caroline Maier
Wilhelm-Busch-Weg 15
D 72461 Albstadt
born: 12.12.1987
Share: EUR 3,187.50
Shareholder:
Andreas Maier
Wilhelm-Busch-Weg 15
D 72461 Albstadt
born: 12.08.1989
Share: EUR 3,187.50
Manager:
Dr. Christoph Maier
Degerfeldstr. 50
D 72461 Albstadt
born: 06.01.1967
Marital status: single
Manager:
Michael Nädele
D 72458 Albstadt
born: 19.02.1970
Proxy:
Ursula Ammann
D 72458 Albstadt
born: 27.12.1967
Proxy:
Tanja Schlaich
D 72461 Albstadt
authorized to jointly represent the company
born: 03.04.1973
Proxy:
Niklas Stahlecker
D 73054 Eislingen
having sole power of representation
born: 16.07.1982
Further functions/participations of C. Maier Textilhandels- und
Beteiligungsgesellschaft mbH (General partner)
General partner:
Kusasa GmbH & Co.KG
Martin-Luther-Str. 1
D 72461 Albstadt
Legal form: Ltd partnership with priv. ltd.
company as general partner in
liquidation
Total cap. EUR 100,000.00
contribution:
Registered
on: 19.12.2003
Reg. data: 70190 Stuttgart, HRA 401433
Liquidator:
Kusasa GmbH & Co.KG
Martin-Luther-Str. 1
D 72461 Albstadt
Legal form: Ltd partnership with priv. ltd.
company as general partner in
liquidation
Total cap. EUR 100,000.00
contribution:
Registered
on: 19.12.2003
Reg. data: 70190 Stuttgart, HRA 401433
COMPANY
HISTORY
company name and legal form
01.05.1909 - 19.11.2000 Trikotwarenfabriken Conrad Maier GmbH +
Co. KG
Martin-Luther-Str. 1
D 72461 Albstadt
Ltd partnership with priv. ltd. company
as general partner
BUSINESS
ACTIVITIES
Main industrial sector
14142 Manufacture of knitted and crocheted underwear (except corsetry)
14190 Manufacture of other wearing apparel and accessories n.e.c.
46421 Wholesale of clothing
96010 Washing and (dry-)cleaning of textile and fur products
PARTICIPATIONS
Shareholder:
TRICOSI GMBH
Goethestr. 20
D 72461 Albstadt
Legal form: Private limited company
Company Status: active
Share capital: EUR 306,775.13
Share: EUR 306,775.13
Reg. data: 09.03.1949
Local court 70190 Stuttgart
HRB 401114
FINANCIAL
INFORMATION
Payment experience: No Complaints
Negative information: We have no negative information at hand.
Balance sheet year: 2015
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: proprietor
Share: 100.00 %
Address Martin-Luther-Str. 1
D 72461 Albstadt
Type of real estate: factory building
Value at selling price: EUR 5,000,000.00
Encumbrances: EUR 2,000,000.00
Real Estate of: C. Maier Textilhandels- und
Beteiligungsgesellschaft mbH
Type of ownership: Tenant
Address Martin-Luther-Str. 1
D 72461 Albstadt
Land register documents were not available.
BANKERS
POSTBANK, 70148 STUTTGART
Sort. code: 60010070, Account no.: 1183703
BIC: PBNKDEFFXXX, IBAN: DE07600100700001183703
SPARKASSE ZOLLERNALB, 72334 BALINGEN
Sort. code: 65351260, Account no.: 134009623
BIC: SOLADES1BAL, IBAN: DE27653512600134009623
LANDESBANK BADEN-WÜRTTEMBERG/BADEN-WÜRTTEMBERGISCHE BANK, 70144
STUTTGART
Sort. code: 60050101, Account no.: 4760779
BIC: SOLADEST600, IBAN: DE29600501010004760779
SÜDWESTBANK, 70037 STUTTGART
Sort. code: 60090700, Account no.: 845808001
BIC: SWBSDESSXXX, IBAN: DE63600907000845808001
FINANCIAL
FIGURES
Equipment: EUR 306,833.00
Ac/ts
receivable:
EUR 1,823,266.00
Liabilities: EUR 7,617,477.00
Employees: 185
- thereof permanent
staff:
73
- Trainees:
3
- Temporary
workers: 107
BALANCE
SHEETS
Balance sheet ratios 01.01.2015 - 31.12.2015
Equity ratio [%]: 30.29
Liquidity ratio: 0.30
Return on total capital [%]: 3.98
Balance sheet ratios 01.01.2014 - 31.12.2014
Equity ratio [%]: 27.36
Liquidity ratio: 0.20
Return on total capital [%]: 3.67
Balance sheet ratios 01.01.2013 - 31.12.2013
Equity ratio [%]: 23.73
Liquidity ratio: 0.26
Return on total capital [%]: 4.73
Balance sheet ratios 01.01.2012 - 31.12.2012
Equity ratio [%]: 32.55
Liquidity ratio: 0.25
Return on total capital [%]: 6.90
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: 01.01.2015 - 31.12.2015
ASSETS EUR 12,064,482.51
Fixed assets EUR 1,844,213.28
Intangible assets EUR 132,298.68
Tangible assets EUR 710,414.60
Financial assets EUR 1,001,500.00
Current assets EUR 10,171,789.53
Stocks EUR 7,846,534.73
Accounts receivable EUR 1,823,266.48
Liquid means EUR 501,988.32
Remaining other assets EUR 48,479.70
Accruals (assets) EUR 48,479.70
LIABILITIES EUR 12,064,482.51
Shareholders' equity EUR 2,699,172.98
Capital EUR 618,708.37
Capital of the fully liable partner
(LP, general partnership) EUR 22,201.22
Capital contribution of gen.
partner/accounts of the pers. liable
shareholder EUR 22,201.22
Limited partner's capital / capital
of partially liable partner (LP) EUR 596,507.15
Limited partner's capital, fixed
capital, capital account I EUR 596,507.15
Reserves EUR 2,080,464.61
Reserves for business partnerships EUR
2,080,464.61
Provisions EUR 1,747,832.67
Liabilities EUR 7,617,476.86
Financial debts EUR 3,462,500.00
Liabilities due to banks EUR 3,462,500.00
Other liabilities EUR 4,154,976.86
Trade creditors (for IAS incl. bills
of exchange) EUR 1,939,505.26
Liabilities due to shareholders EUR 1,001,690.73
Liabililties due to related
companiesEUR 817,963.32
Unspecified other liabilities EUR 395,817.55
PROFIT AND LOSS
ACCOUNT (cost-summary method) according to Comm.
Code (HGB)
Gross result (+/-) EUR 9,915,436.36
Staff expenses EUR 5,695,609.55
Wages and salaries EUR 4,786,367.79
Social security contributions and
expenses for pension plans and
benefits EUR 909,241.76
Total depreciation EUR 236,545.04
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus. EUR 236,545.04
Other operating expenses EUR 3,182,024.99
Operating result from continuing
operations EUR 801,256.78
Interest result (+/-) EUR -204,070.06
Interest and similar income EUR 15,051.44
Interest and similar expenses EUR 219,121.50
Financial result (+/-) EUR -204,070.06
Result from ordinary operations (+/-) EUR
597,186.72
Income tax / refund of income tax
(+/-)EUR -111,522.93
Other taxes / refund of taxes EUR -8,164.78
Tax (+/-) EUR -119,687.71
Annual surplus / annual deficit EUR 477,499.01
Type of balance
sheet: Company balance sheet
Origin of the
present
balance sheet: electronic German Federal Gazette
Financial year: 01.01.2014 - 31.12.2014
ASSETS EUR 12,596,862.92
Fixed assets EUR 1,715,208.05
Intangible assets EUR 85,093.00
Tangible assets EUR 628,615.05
Financial assets EUR 1,001,500.00
Other / unspecified financial assets
EUR 1,001,500.00
Current assets EUR 10,843,303.32
Stocks EUR 9,046,975.58
Accounts receivable EUR 1,642,037.98
Liquid means EUR 154,289.76
Remaining other assets EUR 38,351.55
Accruals (assets) EUR 38,351.55
LIABILITIES EUR 12,596,862.92
Shareholders' equity EUR
2,604,000.57
Capital EUR 619,035.76
Capital of the fully liable partner
(LP, general partnership) EUR 22,528.61
Capital contribution of gen.
partner/accounts of the pers. liable
shareholder EUR 22,528.61
Limited partner's capital / capital
of partially liable partner (LP) EUR 596,507.15
Reserves EUR 1,984,964.81
Reserves for business partnerships EUR
1,984,964.81
Provisions EUR 1,007,731.65
Liabilities EUR 8,985,130.70
PROFIT AND LOSS
ACCOUNT (cost-summary method) according to Comm.
Code (HGB)
Gross result (+/-) EUR 9,721,900.50
Staff expenses EUR 5,654,196.19
Wages and salaries EUR 4,753,339.52
Social security contributions and
expenses for pension plans and
benefits EUR 900,856.67
Total depreciation EUR 206,602.14
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 206,602.14
Other operating expenses EUR 3,087,158.25
Operating result from continuing
operations EUR 773,943.92
Interest result (+/-) EUR
-204,976.20
Interest and similar income EUR 22,216.24
Interest and similar expenses EUR 227,192.44
Financial result (+/-) EUR -204,976.20
Result from ordinary operations (+/-) EUR
568,967.72
Extraordinary expenses EUR 7,607.54
Extraordinary result (+/-) EUR -7,607.54
Income tax / refund of income tax
(+/-)EUR -101,699.57
Other taxes / refund of taxes EUR -8,267.06
Tax (+/-) EUR -109,966.63
Annual surplus / annual deficit EUR 451,393.55
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 63.90 |
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1 |
INR 90.31 |
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Euro |
1 |
INR 80.17 |
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EUR |
1 |
INR 79.88 |
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 : |
TPT |
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
·
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.