MIRA INFORM REPORT

 

 

Report No. :

495564

Report Date :

03.03.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

SYRONOX GMBH

 

 

Registered Office :

Kalteiche-Ring 71,D 35708 Haiger

 

 

Country :

Germany

 

 

Financials (as on) :

31.12.2016

 

 

Date of Incorporation :

10.05.1999

 

 

Com. Reg. No.:

HRB 3648

 

 

Legal Form :

Private limited company

 

 

Line of Business :

Wholesale of non-ferrous ores, metals and metal semi-finished goods

 

 

No. of Employees :

20

 

 

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23rd 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

 

Company name and addres

 

Report on:           Syronox GmbH

Kalteiche-Ring 71

D 35708 Haiger

Telephone:02773/7453-0

Telefax:  02773/7453-50

Homepage: www.syronox.de

E-mail:   info@syronox.de

 Company Status:      active

CONCLUSION

 Business relations are permissible.

 

 

Company summery

 

 LEGAL FORM              Private limited company

 Date of foundation:       10.05.1999

 Shareholders'

 agreement:                   10.05.1999

 Registered on:             11.07.2002

 Commercial Register: Local court 35578 Wetzlar

 under:                          HRB 3648

 

 Share capital:                          EUR            300,000.00

 

 Shareholder:

                      Jens Ritter

                      Van-Kinsbergen-Ring 35

                      D 57290 Neunkirchen

                      born: 20.03.1968

                      Share:             EUR            150,000.00

 Shareholder:

                      Thomas Harazim

                      Am Mühlenberg 37

                      D 57234 Wilnsdorf

                      born: 13.10.1968

                      Share:             EUR            150,000.00

 Manager:

                      Thomas Harazim

                      Am Mühlenberg 37

                      D 57234 Wilnsdorf

                      having sole power of representation

                      born: 13.10.1968

                      Profession: Mechanical engineer

                      Marital status: married

 Manager:

                      Tobias Wollenweber

                      D 57518 Steineroth

                      born: 21.03.1980

 Proxy:

                      Kerstin Diehl

                      D 57299 Burbach

                      authorized to jointly represent the company

                      born: 23.09.1974

 

 Further functions/participations of Thomas Harazim (Manager)

 General partner:

                      Christiane Ritter + Thomas Harazim - K240

                      GbR

                      Kalteiche-Ring 71

                      D 35708 Haiger

                      Legal form: Partnership under the Civil Code

 Limited partner:

                      NetConfig-Gräbener KG

                      Kalteiche-Ring 71

                      D 35708 Haiger

                      Legal form: Limited partnership

                      Total cap.         EUR                 50.00

                      contribution:

                      Share:             EUR                 25.00

                      Registered

                      on:         31.08.2004

                      Reg. data:  35578 Wetzlar, HRA 6558

 

 

COMPANY HISTORY

 

 company name and legal form

 10.05.1999 - 10.07.2002  Syronox GmbH

                          Stahlstr. 10

                          D 57234 Wilnsdorf

                          Private limited company

 

 

RESIGNED ACTING PERSONS AND SHAREHOLDERS

 

 07.07.1999 - 20.07.2015  Manager

                          Jens Ritter

                          Van-Kinsbergen-Ring 35

                          D 57290 Neunkirchen

 

 

BUSINESS ACTIVITIES

 

 Main industrial sector

 46722   Wholesale of non-ferrous ores, metals and metal semi-finished goods

 

 

 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              Kalteiche-Ring 71

                      D 35708 Haiger

 

 Land register documents were not available.

 

 

BANKERS

 

 COMMERZBANK VORMALS DRESDNER BANK, 57003 SIEGEN

 Sort. code: 46080010, Account no.: 0358954700

 BIC: DRESDEFF460, IBAN: DE32460800100358954700

 

 

FINANCIAL FIGURES

 

 Turnover:            2017              *EUR          7,500,000.00

 Ac/ts receivable:                       EUR          2,081,447.00

 Liabilities:                            EUR          1,407,813.00

 Employees:                                                     20

 

 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 [%]:                 45.52

 Liquidity ratio:                   1.43

 Return on total capital [%]:       1.32

 

 Balance sheet ratios 01.01.2015 - 31.12.2015

 Equity ratio [%]:                 53.85

 Liquidity ratio:                   1.60

 Return on total capital [%]:       1.07

 

 Balance sheet ratios 01.01.2014 - 31.12.2014

 Equity ratio [%]:                 53.18

 Liquidity ratio:                   3.11

 Return on total capital [%]:      -1.76

 

Balance sheet ratios 01.01.2013 - 31.12.2013

 Equity ratio [%]:                 51.35

 Liquidity ratio:                   2.12

 Return on total capital [%]:       0.29

 

 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.

 

 

Financial

 

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          3,997,799.40

  Fixed assets                           EUR            452,457.00

   Intangible assets                     EUR            112,367.00

   Tangible assets                       EUR            340,090.00

  Current assets                         EUR          3,537,392.40

   Stocks                                EUR            725,253.28

   Accounts receivable                   EUR          2,496,810.40

   Liquid means                          EUR            315,328.72

  Remaining other assets                 EUR              7,950.00

   Accruals (assets)                     EUR              7,950.00

 

 LIABILITIES                             EUR          3,997,799.40

  Shareholders' equity                   EUR          1,850,436.95

   Capital                               EUR            300,000.00

    Subscribed capital (share capital)   EUR            300,000.00

   Reserves                              EUR                564.59

    Capital reserves                     EUR                564.59

   Balance sheet profit/loss (+/-)       EUR          1,549,872.36

    Balance sheet profit / loss          EUR          1,549,872.36

  Provisions                             EUR             84,775.00

  Liabilities                            EUR          2,062,587.45

 

 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          3,287,485.29

  Fixed assets                           EUR            435,645.00

   Intangible assets                     EUR            122,693.00

   Tangible assets                       EUR            312,952.00

  Current assets                         EUR          2,846,614.29

   Stocks                                EUR            662,115.88

   Accounts receivable                   EUR          2,081,447.20

   Liquid means                          EUR            103,051.21

  Remaining other assets                 EUR              5,226.00

   Accruals (assets)                     EUR              5,226.00

 

 LIABILITIES                             EUR          3,287,485.29

  Shareholders' equity                   EUR          1,798,472.36

   Capital                               EUR            300,000.00

    Subscribed capital (share capital)   EUR            300,000.00

   Reserves                              EUR                564.59

    Capital reserves                     EUR                564.59

   Balance sheet profit/loss (+/-)       EUR          1,497,907.77

    Balance sheet profit / loss          EUR          1,497,907.77

  Provisions                             EUR             81,200.00

  Liabilities                            EUR          1,407,812.93

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 64.10

UK Pound

1

INR 94.44

Euro

1

INR 79.59

Euro

1

INR 80.31

 

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

 

 

INFORMATION DETAILS

 

Analysis Done by :

VIV

 

 

Report Prepared by :

KET

                                                


 

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)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

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