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MIRA INFORM REPORT
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Report No. : |
485994 |
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Report Date : |
13.01.2018 |
IDENTIFICATION DETAILS
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Name : |
SIMPEX ENGINEERING GMBH |
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Registered Office : |
Dellenfeld 20, D 42653 Solingen |
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Country : |
Germany |
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Financials (as on) : |
31.12.2016 |
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Date of Incorporation : |
16.07.2012 |
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Com. Reg. No.: |
HRB 24419 |
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Legal Form : |
Private limited company |
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Line of Business : |
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Agents involved in the sale of machinery,
industrial equipment, shipsand aircraft ·
Wholesale of other machinery,
equipment and supplies ·
Other business support service activities
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 : |
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 (30.06.2017) |
Current Rating (30.09.2017) |
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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 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.
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Source
: CIA |
Company
Name And Address
Report on: Simpex
Engineering GmbH
Dellenfeld 20
D 42653 Solingen
Company Status: active
Telephone: 0212/38394500
Telefax: 0212/38394522
Homepage: www.simpexgroup.com
E-mail: info@de.simpexgroup.com
Company
Summery
LEGAL FORM Private limited company
Date of foundation: 16.07.2012
Shareholders'
agreement: 16.07.2012
Registered on: 07.08.2012
Commercial Register: Local
court 42103 Wuppertal
under: HRB 24419
Share capital: EUR 750,000.00
Shareholder:
SIMPEX
Corporation (Europe) Ltd.
294
Merton Road
GB SW
18 5JW London
Legal
form: Other legal form
Share: EUR 750,000.00
Manager:
Ayananshu
Shukla
GB London
having
sole power of representation
born:
04.06.1976
Nationality: British
COMPANY
HISTORY
company name and legal form
07.08.2012 - 16.08.2013 Simpex Engineering GmbH
Neuenhofer Str. 46 c/o Peter
D
42657 Solingen
Private limited company
BUSINESS
ACTIVITIES
Main industrial sector
4614 Agents involved in
the sale of machinery, industrial equipment, shipsand aircraft
4669 Wholesale of other
machinery, equipment and supplies
82999 Other business
support service activities n. e. c.
FINANCIAL
INFORMATION
Payment experience: within
agreed terms
Negative information:We have no negative information at hand.
Balance sheet year: 2016
REAL
ESTATE
Type of ownership: Tenant
Address
Dellenfeld 20
D 42653
Solingen
Land register documents were not available.
BANKERS
DEUTSCHE BANK, 40189 DÜSSELDORF
Sort. code: 30070010
BIC: DEUTDEDDXXX
STADT-SPARKASSE SOLINGEN, 42648 SOLINGEN
Sort. code: 34250000
BIC: SOLSDE33XXX
FINANCIAL
FIGURES
Profit:
2016 EUR 3,783.00
Ac/ts receivable: EUR 286,026.00
Liabilities: EUR 547,185.00
The number of employees is not known.
BALANCE
SHEETS
Balance sheet ratios 01.01.2016 - 31.12.2016
Equity ratio [%]:
90.53
Liquidity ratio:
10.00
Return on total capital [%]:
0.35
Balance sheet ratios 01.01.2015 - 31.12.2015
Equity ratio [%]:
90.65
Liquidity ratio:
10.00
Return on total capital [%]:
-4.60
Balance sheet ratios 01.01.2014 - 31.12.2014(1)
Equity ratio [%]:
92.86
Liquidity ratio:
5.73
Return on total capital [%]:
-7.28
Balance sheet ratios 01.01.2013 - 31.12.2013(1)
Equity ratio [%]:
98.90
Liquidity ratio:
10.00
Return on total capital [%]:
7.51
(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.
Financials
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 1,081,041.73
Fixed assets EUR 597,363.00
Tangible assets EUR 597,363.00
Current assets EUR 483,678.73
Accounts receivable EUR 286,025.95
Liquid means EUR 197,652.78
LIABILITIES EUR 1,081,041.73
Shareholders' equity EUR 528,656.58
Capital EUR 750,000.00
Subscribed capital (share
capital) EUR 750,000.00
Balance sheet profit/loss
(+/-) EUR -221,343.42
Profit / loss brought
forward EUR -225,126.08
Annual surplus / annual
deficit EUR 3,782.66
Provisions EUR 5,200.00
Liabilities EUR 547,185.15
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 1,075,428.87
Fixed assets EUR 617,593.00
Tangible assets EUR 617,593.00
Current assets EUR 457,835.87
Accounts receivable EUR 301,498.05
Liquid means EUR 156,337.82
LIABILITIES EUR 1,075,428.87
Shareholders' equity EUR 524,873.92
Capital EUR 750,000.00
Subscribed capital (share
capital) EUR 750,000.00
Balance sheet profit/loss
(+/-) EUR -225,126.08
Profit / loss brought
forward EUR -175,627.62
Annual surplus / annual
deficit EUR -49,498.46
Provisions EUR 4,700.00
Liabilities EUR 545,854.95
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 63.53 |
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1 |
INR 86.05 |
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Euro |
1 |
INR 76.53 |
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Euro |
1 |
INR 77.62 |
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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PRA |
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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
·
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.