MIRA INFORM REPORT

Report No. :	485085
Report Date :	13.01.2018

IDENTIFICATION DETAILS

Name :	MASCHINEN FROMMER GMBH & CO. KG
Registered Office :	Am Kolkenstein 6 D 53578 Windhagen
Country :	Germany
Financials (as on) :	30.06.2015
Date of Incorporation :	11.09.1996
Com. Reg. No.:	HRA 11943
Legal Form :	Ltd partnership with priv. ltd. company as general partner
Line of Business :	Wholesale of other machinery
No. of Employees :	6

RATING & COMMENTS

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

MIRA’s Rating :

B

Credit Rating	Explanation	Rating Comments
B	Medium Risk	Business dealings permissible on a regular monitoring basis

Status :	Moderate
Payment Behaviour :	Slow but Correct
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 (30.06.2017)	Current Rating (30.09.2017)
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 and address

Maschinen Frommer GmbH & Co. KG

Am Kolkenstein 6

D 53578 Windhagen

Telephone:02645/95400

Telefax: 02645/954022

Homepage: www.maschinenfrommer.de

E-mail: info@maschinenfrommer.de

Company Status

Active

VAT no.

DE183116834

Company summery

LEGAL FORM Ltd partnership with priv. ltd. company as general partner

Registered on: 11.09.1996

Register of

companies: Local court 56410 Montabaur

under: HRA 11943

Total cap. contribution: EUR 25,564.59

Limited partner:

Rüdiger Frommer

Heckener Str. 23

D 53578 Windhagen

born: 14.08.1951

Share: EUR 25,564.59

General partner:

Maschinen Frommer Beteiligungsgesellschaft

mbH

Am Kolkenstein 6

D 53578 Windhagen

Legal form: Private limited company

Share capital: EUR 25,564.59

Registered on: 11.07.1996

Reg. data: 56410 Montabaur, HRB 13300

Shareholder:

Rüdiger Frommer

Heckener Str. 23

D 53578 Windhagen

born: 14.08.1951

Share: EUR 25,564.59

Manager:

Rüdiger Frommer

Heckener Str. 23

D 53578 Windhagen

having sole power of representation

born: 14.08.1951

Marital status: married

Proxy:

Angelika Frommer

Heckener Str. 23

D 53578 Windhagen

having sole power of representation

born: 10.09.1953

Marital status: married

COMPANY HISTORY

company name and legal form

11.09.1996 - 07.10.2015 Maschinen Frommer GmbH & Co KG

Heckener Str. 23

D 53578 Windhagen

Ltd partnership with priv. ltd. company

as general partner

01.04.1993 - 11.09.1996 Angelika Frommer

Heckener Str. 23

D 53578 Windhagen

Ltd partnership with priv. ltd. company

as general partner

BUSINESS ACTIVITIES

Main industrial sector

46692 Wholesale of other machinery

FINANCIAL INFORMATION

Payment experience: Slow but Correct

Negative information: We have no negative information at hand.

Balance sheet year: 2014/2015

REAL ESTATE

Type of ownership: Tenant

Address Am Kolkenstein 6

D 53578 Windhagen

Real Estate of: Maschinen Frommer Beteiligungsgesellschaft mbH

Type of ownership: Tenant

Address Am Kolkenstein 6

D 53578 Windhagen

Land register documents were not available.

BANKERS

DEUTSCHE BANK, 53604 BAD HONNEF

Sort. code: 38070059

BIC: DEUTDEDK380

RAIFFEISENBANK NEUSTADT, 53573 NEUSTADT (WIED)

Sort. code: 57069238

BIC: GENODED1ASN

FINANCIAL FIGURES

Ac/ts receivable: EUR 234,189.00

Liabilities: EUR 553,002.00

Employees: 6

BALANCE SHEETS

Balance sheet ratios 01.07.2014 - 30.06.2015

Equity ratio [%]: 6.14

Liquidity ratio: 0.72

Balance sheet ratios 01.07.2013 - 30.06.2014

Equity ratio [%]: 6.51

Liquidity ratio: 0.43

Balance sheet ratios 01.07.2012 - 30.06.2013

Equity ratio [%]: 9.02

Liquidity ratio: 0.84

Balance sheet ratios 01.07.2011 - 30.06.2012

Equity ratio [%]: 7.45

Liquidity ratio: 0.97

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.

Type of balance

sheet: Company balance sheet

Origin of the present

balance sheet: electronic German Federal Gazette

Financial year: 01.07.2014 - 30.06.2015

ASSETS EUR 533,466.20

Fixed assets EUR 98,093.50

Intangible assets EUR 0.50

Tangible assets EUR 98,093.00

Current assets EUR 423,738.35

Stocks EUR 66,500.00

Accounts receivable EUR 278,917.49

Liquid means EUR 78,320.86

Remaining other assets EUR 11,634.35

Accruals (assets) EUR 11,634.35

LIABILITIES EUR 533,466.20

Shareholders' equity EUR 32,755.83

Capital EUR 32,755.83

Capital of the fully liable partner

(LP, general partnership) EUR 16,397.40

Share capital / accounts EUR 16,397.40

Limited partner's capital / capital

of partially liable partner (LP) EUR 16,358.43

Other capital of the partially

limited partner EUR 16,358.43

Provisions EUR 33,985.00

Liabilities EUR 466,725.37

Type of balance

sheet: Company balance sheet

Origin of the present

balance sheet: electronic German Federal Gazette

Financial year: 01.07.2013 - 30.06.2014

ASSETS EUR 624,850.00

Fixed assets EUR 123,812.50

Intangible assets EUR 0.50

Tangible assets EUR 123,812.00

Current assets EUR 488,734.74

Stocks EUR 249,650.00

Accounts receivable EUR 234,189.36

Liquid means EUR 4,895.38

Remaining other assets EUR 12,302.76

Accruals (assets) EUR 12,302.76

LIABILITIES EUR 624,850.00

Shareholders' equity EUR 40,697.66

Capital EUR 40,697.66

Capital of the fully liable partner

(LP, general partnership) EUR 15,133.07

Capital contribution of gen.

partner/accounts of the pers. liable

shareholder EUR 15,133.07

Limited partner's capital / capital

of partially liable partner (LP) EUR 25,564.59

Provisions EUR 31,150.00

Liabilities EUR 553,002.34

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 63.53
UK Pound	1	INR 86.05
Euro	1	INR 76.53
Euro	1	INR 77.62

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

INFORMATION DETAILS

Analysis Done by :	NIY
Report Prepared by :	TRU

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.