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MIRA INFORM REPORT
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Report No. : |
516807 |
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Report Date : |
25.06.2018 |
IDENTIFICATION DETAILS
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Name : |
INDRA RECYCLING GMBH METALLAUFBEREITUNG |
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Registered Office : |
III. Industriestr. 2, 68766 Hockenheim |
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Country : |
Germany |
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Date of Incorporation : |
07.05.1993 |
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Com. Reg. No.: |
HRB 421443 |
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Legal Form : |
Private Limited |
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Line of Business : |
· Recovery of Sorted Materials · Wholesale of Waste and Scrap |
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No. of Employees : |
140 (2017) |
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 : |
Good |
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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 (31.12.2017) |
Current Rating (01.04.2018) |
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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 economic 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, investment, and exports are likely to drive German GDP growth in 2018, and the country’s budget and trade surpluses are likely to remain high.
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Source
: CIA |
Company name and address
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Company name |
Indra Recycling GmbH Metallaufbereitung |
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Trading name |
Indra Recycling |
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Registered address |
III. Industriestr. 2 68766 Hockenheim |
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Correspondence address |
III. Industriestr. 2 68766 Hockenheim Or / and Postfach 13 24, 68756 Hockenheim |
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Telephone number |
(06205) 29090 |
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Fax number |
(06205) 290996 |
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Email address |
info@indrarec.de |
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Website |
Registration
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Registration number |
HRB 421443 |
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VAT-number |
DE811411209 |
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Status |
Active |
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Establishment date |
07-05-1993 |
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Legal form |
Private Limited |
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Subscribed share capital |
EUR 260.000 |
Activities
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38.32.0 Recovery of sorted materials 46.77.0 Wholesale of waste and scrap |
Relations
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Shareholders |
REMONDIS Services und
Beteiligungs GmbH, 97% Cecilio Lopez, 3% |
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Structure |
Subsidiaries/participations: None on record |
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Branches |
No branches on record |
Management
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Ralf Boecker,
born 01-01-1965 |
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Director |
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Since |
12-08-1999 |
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Name |
Wolfgang Schaaf,
born 29-03-1965 |
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Postition |
Director |
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Since |
12-05-1993 |
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Remark |
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Employees
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Year |
2017 |
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140 |
Bank
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Commerzbank Baden-Württembergische
Bank Landesbank Baden-Württemberg/Baden-Württ Deutsche Bank |
Payments
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No Complaints |
Remarks
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Auditor: Unknown A declaration of
liability has been filed by Rethmann SE &
Co. KG |
Finances
Rethmann SE & Co. KG
Financial Year
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31.12.2016 |
[%] |
31.12.2015 |
[%] |
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Number of Weeks |
52 |
- |
52 |
- |
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Currency |
EUR |
EUR |
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Consolidated Accounts |
Yes |
Yes |
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Financial Accounting Type |
HGB |
HGB |
Assets
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A. Assets |
4.567.029.000 |
0,99% |
4.522.050.000 |
3,24% |
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I. Intangible assets |
455.603.000 |
-9,77% |
504.941.000 |
-6,08% |
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II. Fixed Assets (long-term-assets) |
3.618.729.000 |
3,15% |
3.508.262.000 |
5,43% |
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III. Financial Assets |
492.697.000 |
-3,17% |
508.847.000 |
-1,19% |
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B. Current Assets |
3.453.788.000 |
9,55% |
3.152.722.000 |
-2,43% |
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I. Inventory |
539.892.000 |
10,22% |
489.827.000 |
-4,40% |
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II. Receivabls and other
assets |
2.116.830.000 |
10,53% |
1.915.233.000 |
1,15% |
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therefrom trade receivables |
1.763.870.000 |
11,46% |
1.582.467.000 |
999,99% |
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III. Securities |
4.207.000 |
-57,19% |
9.826.000 |
16,77% |
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IV. Liquid Assets |
792.859.000 |
7,46% |
737.836.000 |
-9,69% |
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C. Prepaid Expenses |
43.274.000 |
-13,46% |
50.005.000 |
14,72% |
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D. Defered Tax |
55.707.000 |
-11,00% |
62.592.000 |
68,71% |
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E. Active difference
between the asset allocation |
357.000 |
-19,59% |
444.000 |
-54,79% |
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Balance sheet total |
8.120.155.000 |
4,27% |
7.787.813.000 |
1,23% |
Liabilities
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A. Equity |
2.862.794.000 |
4,37% |
2.742.813.000 |
7,57% |
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B. Accruals |
1.364.461.000 |
8,22% |
1.260.824.000 |
6,70% |
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therefrom accruals for pension |
261.000.000 |
- |
- |
- |
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therefrom accruals for tax |
95.000.000 |
- |
- |
- |
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C. Liabilities |
3.774.093.000 |
3,15% |
3.658.877.000 |
-4,25% |
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therefrom trade payables |
866.000.000 |
11,27% |
778.253.000 |
2,37% |
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D. Deffered Income |
75.746.000 |
-15,28% |
89.408.000 |
-13,46% |
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Balance sheet total |
8.120.155.000 |
4,27% |
7.787.813.000 |
1,23% |
Profit & Loss
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Turnover |
12.663.207.000 |
1,98% |
12.417.709.000 |
1,29% |
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Inventory Change |
1.519.000 |
-91,93% |
18.814.000 |
160,67% |
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Own Work |
3.158.000 |
13,19% |
2.790.000 |
-3,23% |
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Other Operational Revenue |
307.911.000 |
-0,22% |
308.583.000 |
1,87% |
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Material |
7.370.519.000 |
-1,00% |
7.445.260.000 |
-2,16% |
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Staff |
2.612.609.000 |
6,18% |
2.460.597.000 |
7,49% |
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Amortisation |
703.747.000 |
4,16% |
675.667.000 |
9,04% |
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Other Costs |
1.805.862.000 |
5,78% |
1.707.248.000 |
9,06% |
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Operational Result |
483.058.000 |
5,21% |
459.124.000 |
1,81% |
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therefrom other interest and
similar income |
8.000.000 |
- |
- |
- |
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therefrom Interests and
similar expenses |
85.714.000 |
- |
- |
- |
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Financial Result |
-117.495.000 |
- |
- |
- |
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Ordinary operational
result (operational - and financial result) |
493.262.000 |
20,66% |
408.807.000 |
2,59% |
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Tax |
165.969.000 |
17,77% |
140.921.000 |
20,48% |
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Other Taxes |
- |
- |
23.114.000 |
-10,50% |
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Net Income |
288.594.000 |
17,90% |
244.772.000 |
5,25% |
(NOTE: Financials of INDRA RECYCLING GMBH are not available
as RETHMANN SE & CO KG has filed a declaration of liability for the subject
matter. RETHMANN SE & CO KG is the ultimate (majority) shareholder.)
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 67.77 |
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UK Pound |
1 |
INR 89.96 |
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Euro |
1 |
INR 78.86 |
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EUR |
1 |
INR 79.33 |
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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VAR |
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Report Prepared
by : |
NIT |
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.