MIRA INFORM REPORT

Report No. :	490523.2
Report Date :	24.02.2018

IDENTIFICATION DETAILS

Name :	ALBERT SCHREM WERKZEUGFABRIK GMBH
Registered Office :	Ulmer Str. 56, D 89537 Giengen, Post Box:15 04, D 89530 Giengen
Country :	Germany
Financials (as on) :	31.12.2016
Date of Incorporation :	01.04.1920
Com. Reg. No.:	HRB 660155
Legal Form :	Private limited company
Line of Business :	· Manufacture of other general-purpose machinery · Wholesale of other equipment and accessories for machinery and technical supplies
No. of Employees :	14

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 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.

Source : CIA

NOTE

In the meantime there have been changes in particular in the following areas subject to monitoring:

- Financial information

- Balance sheets

COMPANY NAME AND ADDRESS

Report on: Albert Schrem Werkzeugfabrik GmbH

Company Status: active

Ulmer Str. 56

D 89537 Giengen

Post Box:

15 04, D 89530 Giengen

Telephone: 07322/6006

Telefax: 07322/6008

Homepage: www.schrem-tools.com

E-mail: info@schrem-tools.com

VAT no.: DE811299035

CONCLUSION

Business relations are permissible.

COMPANY SUMMARY

Legal Form Private limited company

Date of foundation: 01.04.1920

Shareholders'

agreement: 29.01.1973

Registered on: 12.02.1973

Commercial Register: Local court 89073 Ulm

under: HRB 660155

Share capital: EUR 51,129.19

Shareholder:

Michael Wolf

D 89518 Heidenheim

born: 28.12.1968

Share: EUR 50,617.90

Shareholder:

Albert Schrem Werkzeugfabrik GmbH

Ulmer Str. 56

D 89537 Giengen

Post Box:

15 04, D 89530 Giengen

Legal form: Private limited company

Share capital: EUR 51,129.19

Share: EUR 511.29

Registered on: 12.02.1973

Reg. data: 89073 Ulm, HRB 660155

Manager:

Michael Wolf

D 89518 Heidenheim

born: 28.12.1968

Proxy:

Gudrun Wolf

D 89518 Heidenheim

having sole power of representation

born: 27.11.1969

Further functions/participations of Michael Wolf (Manager)

Shareholder:

Michael Wolf Grundstücks GmbH

Ulmer Str. 56

D 89537 Giengen

Legal form: Private limited company

Share capital: EUR 25,000.00

Share: EUR 25,000.00

Registered

on: 07.06.2017

Reg. data: 89073 Ulm, HRB 735231

Manager:

Michael Wolf Grundstücks GmbH

Ulmer Str. 56

D 89537 Giengen

Legal form: Private limited company

Share capital: EUR 25,000.00

Registered

on: 07.06.2017

Reg. data: 89073 Ulm, HRB 735231

BUSINESS ACTIVITIES

Main industrial sector

28290 Manufacture of other general-purpose machinery

Secondary industrial sector

46693 Wholesale of other equipment and accessories for machinery and technical supplies

PARTICIPATIONS

Shareholder:

Albert Schrem Werkzeugfabrik GmbH

Ulmer Str. 56

D 89537 Giengen

Post Box:

15 04

Legal form: Private limited company

Company Status: active

Share capital: EUR 51,129.19

Share: EUR 511.29

Reg. data: 12.02.1973

Local court 89073 Ulm

HRB 660155

FINANCIAL INFORMATION

Payment experience: No complaints

Negative information: We have no negative information at hand.

Balance sheet year: 2016

REAL ESTATE

Type of ownership: Tenant

Address Ulmer Str. 56

D 89537 Giengen

Land register documents were not available.

BANKERS

KREISSPARKASSE HEIDENHEIM, 89537 GIENGEN AN DER BRENZ

Sort. code: 63250030

BIC: SOLADES1HDH

COMMERZBANK, 89502 HEIDENHEIM AN DER BRENZ

Sort. code: 63240016

BIC: COBADEFFXXX

VOLKSBANK BRENZTAL, 89537 GIENGEN AN DER BRENZ

Sort. code: 60069527

BIC: GENODES1RNS

FINANCIAL FIGURES

Turnover: 2016 *EUR 2,030,000.00

2017 *EUR 2,030,000.00

further business figures:

Equipment: *EUR 84,000.00

Ac/ts receivable: EUR 199,598.00

Liabilities: EUR 221,179.00

Employees: 14

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

BALANCE SHEETS

Balance sheet ratios 01.01.2016 - 31.12.2016

Equity ratio [%]: 72.99

Liquidity ratio: 10.00

Return on total capital [%]: -7.46

Balance sheet ratios 01.01.2015 - 31.12.2015

Equity ratio [%]: 73.55

Liquidity ratio: 10.00

Return on total capital [%]: -5.39

Balance sheet ratios 01.01.2014 - 31.12.2014

Equity ratio [%]: 73.88

Liquidity ratio: 10.00

Return on total capital [%]: 72.40

Balance sheet ratios 01.01.2013 - 31.12.2013

Equity ratio [%]: 76.18

Liquidity ratio: 10.00

Return on total capital [%]: 60.02

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: 01.01.2016 - 31.12.2016

ASSETS EUR 1,035,838.79

Fixed assets EUR 92,203.37

Intangible assets EUR 2.51

Tangible assets EUR 92,200.86

Current assets EUR 933,150.20

Stocks EUR 171,093.88

Accounts receivable EUR 295,387.90

Liquid means EUR 466,668.42

Remaining other assets EUR 10,485.22

Accruals (assets) EUR 10,485.22

LIABILITIES EUR 1,035,838.79

Shareholders' equity EUR 756,022.28

Capital EUR 51,129.19

Subscribed capital (share capital) EUR 51,129.19

Balance sheet profit/loss (+/-) EUR 704,893.09

Balance sheet profit / loss EUR 704,893.09

Provisions EUR 44,580.00

Liabilities EUR 235,236.51

Type of balancesheet: Company balance sheet

Origin of the present balance sheet: electronic German Federal Gazette

Financial year: 01.01.2015 - 31.12.2015

ASSETS EUR 1,132,897.39

Fixed assets EUR 91,623.37

Intangible assets EUR 2.51

Tangible assets EUR 91,620.86

Current assets EUR 1,031,309.63

Stocks EUR 211,584.48

Accounts receivable EUR 199,598.39

Liquid means EUR 620,126.76

Remaining other assets EUR 9,964.39

Accruals (assets) EUR 9,964.39

LIABILITIES EUR 1,132,897.39

Shareholders' equity EUR 833,281.17

Capital EUR 51,129.19

Subscribed capital (share capital) EUR 51,129.19

Balance sheet profit/loss (+/-) EUR 782,151.98

Balance sheet profit / loss EUR 782,151.98

Provisions EUR 73,310.00

Liabilities EUR 221,179.25

Other liabilities EUR 5,126.97

Remaining other liabilities EUR 5,126.97

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 64.82
UK Pound	1	INR 90.40
Euro	1	INR 79.76
Euro	1	INR 79.56

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

INFORMATION DETAILS

Analysis Done by :	PRA
Report Prepared by :	SYL

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)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.