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MIRA
INFORM REPORT
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Report No. : |
497058 |
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Report Date : |
12.03.2018 |
IDENTIFICATION DETAILS
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Name : |
RÜTEX TEXTILHANDELSGESELLSCHAFT M.B.H. |
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Registered Office : |
Rönneterring
11, D 41068 Mönchengladbach |
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Country : |
Germany |
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Financials (as on) : |
31.12.2015 |
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Date of Incorporation : |
30.08.1985 |
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Com. Reg. No.: |
HRB 2816 |
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Legal Form : |
Private limited company |
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Line of Business : |
·
Wholesale of other equipment and accessories for
machinery and technical supplies ·
Wholesale of other intermediate goods |
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No. of Employees : |
15 |
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 (30.09.2017) |
Current Rating (31.12.2017) |
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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 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
Report
on: Rütex
Textilhandelsgesellschaft m.b.H.
Rönneterring
11
D
41068 Mönchengladbach
Telephone:02161/95300
Telefax: 02161/52086
Homepage:
www.ruetex.de
E-mail: info@ruetex.de
Company
Status: active
VAT
no.: DE120498819
Tax
ID number: 121/5743/0437
Company Summery
LEGAL
FORM Private limited company
Date
of foundation: 1985
Registered
on: 30.08.1985
Commercial
Register: Local court 41061
Mönchengladbach
under: HRB 2816
Share
capital: EUR 545,000.00
Shareholder:
Rütters GmbH
Rönneterring 11
D 41068 Mönchengladbach
Legal form: Private
limited company
Share capital: EUR 25,000.00
Share: EUR 512,300.00
Registered on: 29.09.2016
Reg. data: 41061
Mönchengladbach, HRB 17283
Shareholder:
Stefan Hüskes
Mußkamp 10
D 41334 Nettetal
born: 04.01.1966
Share: EUR 32,700.00
Manager:
Stefan Hüskes
Mußkamp 10
D 41334 Nettetal
having sole power of
representation
born: 04.01.1966
Profession: Industrial
manager
Manager:
Knut Rütters
Haiderfeldstr. 27
D 41063 Mönchengladbach
having sole power of
representation
born: 06.10.1977
Profession: Fully
qualified merchant
Marital status: unknown
Proxy:
Ina Rütters
Parkstr. 41
D 41061 Mönchengladbach
born: 10.04.1979
Proxy:
Gerald Karl Josef
Schöndeling
Voerdenweg 8
D 47608 Geldern
having sole power of
representation
born: 25.07.1969
Further
functions/participations of Stefan Hüskes (Manager)
Limited
partner:
PASSION FOR FLOORS GmbH
& Co. KG
Rönneterring 11
D 41068 Mönchengladbach
Legal form: Ltd
partnership with priv. ltd.
company as
general partner in
liquidation
Total cap. EUR 25,000.00
contribution:
Share: EUR 1,250.00
Registered
on: 24.11.2009
Reg. data: 41061 Mönchengladbach, HRA 6532
Shareholder:
Rütters Textil GmbH
Rönneterring 11
D 41068 Mönchengladbach
Legal form: Private
limited company
Share capital: EUR 57,500.00
Share: EUR 3,450.00
Registered
on: 23.12.1982
Reg. data: 41061 Mönchengladbach, HRB 1925
Manager:
Rütters Textil GmbH
Rönneterring 11
D 41068 Mönchengladbach
Legal form: Private
limited company
Share capital: EUR 57,500.00
Registered
on: 23.12.1982
Reg. data: 41061 Mönchengladbach, HRB 1925
Further
functions/participations of Knut Rütters (Manager)
Limited
partner:
PASSION FOR FLOORS GmbH
& Co. KG
Rönneterring 11
D 41068 Mönchengladbach
Legal form: Ltd
partnership with priv. ltd.
company as
general partner in
liquidation
Total cap. EUR 25,000.00
contribution:
Share: EUR 18,750.00
Registered
on: 24.11.2009
Reg. data: 41061 Mönchengladbach, HRA 6532
Shareholder:
PASSION FOR FLOORS
Verwaltungs GmbH
Rönneterring 11
D 41068 Mönchengladbach
Legal form: Private
limited company in
liquidation
Share capital: EUR 25,000.00
Share: EUR 25,000.00
Registered
on:
10.11.2009
Reg. data: 41061 Mönchengladbach, HRB 13489
Shareholder:
Rütters Franzstraße
Immobilien GmbH
Rönneterring 11
D 41068 Mönchengladbach
Legal form: Private limited company in
liquidation
Share capital: EUR 25,000.00
Share: EUR 18,725.00
Registered
on: 29.03.2012
Reg. data: 52070 Aachen, HRB 17485
Shareholder:
Rütters Verwaltungs GmbH
Rönneterring 11
D 41068 Mönchengladbach
Legal form: Private limited company in
liquidation
Share capital: EUR 25,000.00
Share: EUR 12,500.00
Registered
on: 03.07.2002
Reg. data: 41061 Mönchengladbach, HRB 6976
Shareholder:
Rütters GmbH
Rönneterring 11
D 41068 Mönchengladbach
Legal form: Private limited company
Share capital: EUR 25,000.00
Share: EUR 12,500.00
Registered
on: 29.09.2016
Reg. data: 41061 Mönchengladbach, HRB 17283
Manager:
Rütters GmbH
Rönneterring 11
D 41068 Mönchengladbach
Legal form: Private
limited company
Share capital: EUR 25,000.00
Registered
on: 29.09.2016
Reg. data: 41061 Mönchengladbach, HRB 17283
Manager:
Rütters Textil GmbH
Rönneterring 11
D 41068 Mönchengladbach
Legal form: Private
limited company
Share capital: EUR 57,500.00
Registered
on: 23.12.1982
Reg. data: 41061 Mönchengladbach, HRB 1925
Liquidator:
Rütters Verwaltungs GmbH
Rönneterring 11
D 41068 Mönchengladbach
Legal form: Private limited
company in
liquidation
Share capital: EUR 25,000.00
Registered
on: 03.07.2002
Reg. data: 41061 Mönchengladbach, HRB 6976
Liquidator:
PASSION FOR FLOORS
Verwaltungs GmbH
Rönneterring 11
D 41068 Mönchengladbach
Legal form: Private
limited company in
liquidation
Share capital: EUR 25,000.00
Registered
on: 10.11.2009
Reg. data: 41061 Mönchengladbach, HRB 13489
Liquidator:
PASSION FOR FLOORS GmbH
& Co. KG
Rönneterring 11
D 41068 Mönchengladbach
Legal form: Ltd
partnership with priv. ltd.
company as
general partner in
liquidation
Total cap. EUR 25,000.00
contribution:
Registered
on: 24.11.2009
Reg. data: 41061 Mönchengladbach, HRA 6532
Liquidator:
Rütters Franzstraße
Immobilien GmbH
Rönneterring 11
D 41068 Mönchengladbach
Legal form: Private
limited company in
liquidation
Share capital: EUR 25,000.00
Registered
on: 29.03.2012
Reg. data: 52070 Aachen, HRB 17485
BUSINESS ACTIVITIES
Main
industrial sector
46693 Wholesale of other equipment and accessories
for machinery and technical supplies
4676 Wholesale of other intermediate goods
FINANCIAL INFORMATION
Payment
experience: No Complaints
Negative
information:We have no negative information at hand.
Balance
sheet year: 2015
REAL ESTATE
Type
of ownership: Tenant
Address Rönneterring 11
D 41068 Mönchengladbach
Land
register documents were not available.
BANKERS
Principal
bank
COMMERZBANK,
41012 MÖNCHENGLADBACH
Sort.
code: 31040015
BIC:
COBADEFFXXX
Further
banks
BNP
PARIBAS NIEDERLASSUNG DEUTSCHLAND, 60327 FRANKFURT AM MAIN
Sort.
code: 37010600
BIC:
BNPADEFFXXX
DEUTSCHE
BANK, 41061 MÖNCHENGLADBACH
Sort.
code: 31070001
BIC:
DEUTDEDD310
FINANCIAL FIGURES
Equipment: EUR 120,528.00
Ac/ts
receivable:
EUR 6,938,523.00
Liabilities: EUR 2,399,181.00
Employees: 15
BALANCE SHEETS
Balance
sheet ratios 01.01.2015 - 31.12.2015
Equity
ratio [%]: 72.12
Liquidity
ratio: 3.64
Return
on total capital [%]: 5.50
Balance
sheet ratios 01.01.2014 - 31.12.2014
Equity
ratio [%]: 75.64
Liquidity
ratio: 5.73
Return
on total capital [%]: 4.48
Balance
sheet ratios 01.01.2013 - 31.12.2013
Equity
ratio [%]: 72.04
Liquidity
ratio: 10.00
Return
on total capital [%]: 3.06
Balance
sheet ratios 01.01.2012 - 31.12.2012
Equity
ratio [%]: 67.88
Liquidity
ratio: 10.00
Return
on total capital [%]: 11.84
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: 01.01.2015 - 31.12.2015
ASSETS EUR 12,552,695.99
Fixed assets EUR 266,299.00
Intangible assets EUR 145,770.00
Other / unspecified intangible assetsEUR 145,770.00
Tangible assets EUR 120,529.00
Plant / machinery EUR 1.00
Other tangible assets / fixtures and
fittings EUR 120,528.00
Current assets EUR 12,284,069.14
Stocks EUR 3,104,669.50
Accounts receivable EUR 6,938,522.70
Amounts due from related companies EUR
112,939.98
Other debtors and assets EUR 6,825,582.72
Investments in current assets EUR 1,748,983.51
Other investments EUR 1,748,983.51
Liquid means EUR 491,893.43
Remaining other assets EUR 2,327.85
Accruals (assets) EUR 2,327.85
LIABILITIES EUR 12,552,695.99
Shareholders' equity EUR 9,073,067.32
Capital EUR 545,000.00
Subscribed capital (share capital) EUR 545,000.00
Reserves EUR 63,934.17
Capital reserves EUR 63,934.17
Balance sheet profit/loss (+/-) EUR 8,464,133.15
Profit / loss brought forward EUR 7,777,853.70
Annual surplus / annual deficit EUR 686,279.45
Provisions
EUR 1,080,447.82
Liabilities EUR 2,399,180.85
Other liabilities EUR 2,399,180.85
Liabililties due to related
companiesEUR 5,985.72
Unspecified other liabilities EUR 2,393,195.13
PROFIT
AND LOSS ACCOUNT (cost-summary method) according to Comm.
Code
(HGB)
Gross result (+/-) EUR 2,781,736.63
Staff expenses EUR 1,016,263.39
Wages and salaries EUR 822,381.98
Social security contributions and
expenses for pension plans and
benefits EUR 193,881.41
Total depreciation EUR 50,984.74
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus. EUR 50,984.74
Other operating expenses EUR 1,182,985.21
Operating result from continuing
operations EUR 531,503.29
Interest result (+/-) EUR 310,884.93
Interest and similar income EUR 343,939.93
Interest and similar expenses EUR
33,055.00
Other financial result EUR 154,847.72
Income from securities and loans from
financial assets EUR 154,847.72
Financial result (+/-) EUR 465,732.65
Result from ordinary operations (+/-) EUR
997,235.94
Income tax / refund of income tax
(+/-)EUR -309,666.53
Other taxes / refund of taxes EUR -1,289.96
Tax (+/-) EUR -310,956.49
Annual surplus / annual deficit EUR 686,279.45
Type
of balance
sheet: Company balance sheet
Origin
of the present
balance
sheet: electronic German Federal
Gazette
Financial
year: 01.01.2014 - 31.12.2014
ASSETS EUR 11,087,448.84
Fixed assets EUR 193,302.00
Intangible assets EUR 48,514.50
Concessions, licences, rights EUR 48,514.50
Tangible assets EUR 144,787.50
Plant / machinery EUR 1.00
Other tangible assets / fixtures and
fittings EUR 144,786.50
Current assets EUR 10,891,193.91
Stocks EUR 2,710,813.25
Finished goods / work in progress EUR
2,662,737.93
Advance payments made EUR 48,075.32
Accounts receivable EUR 5,669,643.45
Trade debtors EUR 1,749,896.79
Amounts due from related companies EUR 58,756.46
Other debtors and assets EUR 3,860,990.20
Investments in current assets EUR 1,729,667.24
Other investments EUR 1,729,667.24
Liquid means EUR 781,069.97
Remaining other assets EUR 2,952.93
Accruals (assets) EUR 2,952.93
LIABILITIES EUR 11,087,448.84
Shareholders' equity EUR 8,386,787.87
Capital EUR 545,000.00
Subscribed capital (share capital) EUR 545,000.00
Reserves EUR 63,934.17
Capital reserves EUR 63,934.17
Balance sheet profit/loss (+/-) EUR 7,777,853.70
Profit / loss brought forward EUR 7,280,852.85
Annual surplus / annual deficit EUR 497,000.85
Provisions EUR 930,264.76
Provisions for taxes EUR 106,978.40
Other / unspecified provisions EUR 823,286.36
Liabilities EUR 1,770,396.21
Other liabilities EUR 1,770,396.21
Trade creditors (for IAS incl. bills
of exchange) EUR 1,378,076.81
Liabililties due to related
companiesEUR 5,985.72
Unspecified other liabilities EUR 386,333.68
PROFIT
AND LOSS ACCOUNT (cost-summary method) according to Comm.
Code
(HGB)
Sales EUR 14,471,364.20
Other operating income EUR 484,422.50
Cost of materials EUR 12,332,634.45
Raw materials and supplies, purchased
goods EUR 12,253,997.87
Purchased services EUR 78,636.58
Gross result (+/-) EUR 2,623,152.25
Staff expenses EUR 1,055,793.68
Wages and salaries EUR 901,300.08
Social security contributions and
expenses for pension plans and
benefits EUR 154,493.60
Total depreciation EUR 40,410.60
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus. EUR 40,410.60
Other operating expenses EUR 868,723.84
Operating result from continuing
operations EUR 658,224.13
Interest result (+/-) EUR -6,530.77
Interest and similar income EUR 16,916.56
Interest and similar expenses EUR 23,447.33
Other financial result EUR 59,940.73
Income from securities and loans from
financial assets EUR 59,940.73
Financial result (+/-) EUR 53,409.96
Result from ordinary operations (+/-) EUR
711,634.09
Income tax / refund of income tax
(+/-)EUR -213,448.60
Other taxes / refund of taxes EUR -1,184.64
Tax (+/-) EUR -214,633.24
Annual surplus / annual deficit EUR 497,000.85
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 65.08 |
|
|
1 |
INR 89.85 |
|
Euro |
1 |
INR 80.16 |
|
Euro |
1 |
INR 80.14 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
VAR |
|
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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)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.