MIRA INFORM REPORT

Report No. :	498507
Report Date :	22.03.2018

IDENTIFICATION DETAILS

Name :	DATEMA-DELFZIJL B.V.
Registered Office :	Zeesluizen 8 9936HX Farmsum
Country :	Netherlands
Financials (as on) :	31.12.2016
Date of Incorporation :	16.05.1955
Com. Reg. No.:	02319278
Legal Form :	Private Limited Company
Line of Business :	Wholesale of articles for ships and for fishing (no sport fishing) Testing and analysis of machinery
No. of Employees :	41 (2016)

RATING & COMMENTS

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

MIRA’s Rating :

A

Credit Rating	Explanation	Rating Comments
A	Acceptable Risk	Business dealings permissible with moderate risk of default

Status :	Good
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)
Netherlands	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

NETHERLANDS - ECONOMIC OVERVIEW

The Netherlands, the sixth-largest economy in the European Union, plays an important role as a European transportation hub, with a consistently high trade surplus, stable industrial relations, and low unemployment. Industry focuses on food processing, chemicals, petroleum refining, and electrical machinery. A highly mechanized agricultural sector employs only 2% of the labor force but provides large surpluses for food-processing and underpins the country’s status as the world’s second largest agricultural exporter.

The Netherlands is part of the euro zone, and as such, its monetary policy is controlled by the European Central Bank. The Dutch financial sector is highly concentrated, with four commercial banks possessing over 80% of banking assets, and is four times the size of Dutch GDP.

In 2008, during the financial crisis, the government budget deficit hit 5.3% of GDP. Following a protracted recession from 2009 to 2013, during which unemployment doubled to 7.4% and household consumption contracted for four consecutive years, economic growth began inching forward in 2014. Since 2010, Prime Minister Mark RUTTE’s government has implemented significant austerity measures to improve public finances and has instituted broad structural reforms in key policy areas, including the labor market, the housing sector, the energy market, and the pension system. In 2017, the government budget returned to a surplus of 0.7% of GDP, with economic growth of 3.2%, and GDP per capita finally surpassed pre-crisis levels. The fiscal policy announced by the new government in the 2018-2021 coalition plans for increases in government consumption and public investment, fueling domestic demand and household consumption and investment. The new government’s policy also plans to increase demand for workers in the public and private sector, forecasting a further decline in the unemployment rate, which hit 4.8% in 2017.

Source : CIA

Summary

Company name	Datema-Delfzijl B.V.
Operative address	Zeesluizen 8 9936HX FARMSUM Netherlands
Status	Active

Legal form	Private Limited Company
Registration number	KvK-nummer: 02319278
VAT-number	001221796
European VAT-number	NL001221796B01
Year	2016	Mutation	2015	Mutation	2014
Fixed assets	218.130	14,74	190.113	-18,78	234.079
Total receivables	2.911.836	-6,42	3.111.708	7,85	2.885.297
Total equity	2.073.572	-6,84	2.225.843	8,48	2.051.842
Short term liabilities	2.140.806	-1,70	2.177.820	3,51	2.104.035
Working capital	1.929.692	-9,35	2.128.624	11,40	1.910.829
Quick ratio	1,50	1,35	1,48	4,23	1,42

Contact information

Company name	Datema-Delfzijl B.V.
Trade names	Datema-Delfzijl B.V.
Operative address	Zeesluizen 8 9936HX FARMSUM Netherlands
Correspondence address	Zeesluizen 8 9936HX FARMSUM Netherlands

Telephone number	0596635252
Fax number	0596615245
Email address	delfzijl@datema.nl
Website	www.datema.nl

Registration

Registration number	KvK-nummer: 02319278
Branch number	000019125623
VAT-number	001221796
European VAT-number	NL001221796B01
Status	Active
First registration company register	1971-05-07
Memorandum	1971-05-07
Establishment date	1955-05-16

Legal form	Private Limited Company
Legal person since	1972-04-07
Last proposed admendment	2001-12-31
Issued placed capital	EUR 18.400
Paid up share capital	EUR 18.400

Activities

SBI	46697: Wholesale of articles for ships and for fishing (no sport fishing) 71202: Testing and analysis of machinery
Exporter	No
Importer	No

Goal

Handel in en reparatie van nautische- en radio-nautische instrumenten, handel in zeekaarten en digitale zeekaarten handel in scheepsbenodigdheden, handel in boeken, betrekking hebbende op de scheepvaart, handel in technische instrumenten en gereedschappen voor scheepvaart en industrie, groothandel in scheepvaartbenodigdheden, het verzorgen van en repareren van scheepsinstallaties op electro-technish gebied Handel in nautische hulpverlenings- en reddingsmiddelen Handel in vaartuigen en toebehoren Reparatie, onderhoud en service aan nautische hulpverlenings-, reddings- en brandblusmiddelen vaartuigen en toebehoren

Relations

Shareholders	Nautical Safety Group B.V. Zeesluizen 8 9936HX FARMSUM Netherlands Registration number: 02063029 Percentage: 100%
Affiliates	Nautical Information Services B.V. Zeesluizen 8 9936HX FARMSUM Netherlands Registration number: 02334057 Datema Watersport B.V. Zeesluizen 8 9936HX FARMSUM Netherlands Registration number: 02076039

Branches	Datema-Delfzijl B.V. Galvanistraat 148 3029AD ROTTERDAM Netherlands Registration number: 02319278
Companies on same address	Datema Watersport B.V. Registration number: 02076039 Nautical Information Services B.V. Registration number: 02334057 Nautical Safety Group B.V. Registration number: 02063029

Real Estate

Details operative address

Surface area: 4930 m2 Purpose: Industrial function Construction year: 2001 Status: Building in use Under investigation: No

Management

Active management

Nautical Safety Group B.V. Zeesluizen 8 9936HX FARMSUM Netherlands Registration number: 02063029 Competence: Fully authorized Function: Manager Starting date: 1999-02-11 A. Schuiling Anke Netherlands Competence: Limited authorization Function: Manager Starting date: 2012-07-01 Date of birth: 1982-08-18, Groningen, NL E.W.J.H. Reusken Erwin Wilhelmus Johannes Hendr Netherlands Competence: Limited authorization Function: Financieel Manager Starting date: 2008-12-01 Date of birth: 1967-05-27, Arnhem, NL Involved with the following companies: Stichting De Huiskamer van Langelo Hoofdweg 10 9333PB LANGELO Netherlands Registration number: 41018723 Function: Treasurer Starting date: 2015-06-01 R.R.J. de Boer Ronald Reinder Johann Netherlands Competence: Fully authorized Function: Proxy Starting date: 1999-03-22 Date of birth: 1962-06-07, Groningen, NL Involved with the following companies: Landvast Beheer B.V. Meerweg 40 9606PN KROPSWOLDE Netherlands Registration number: 02067031 Function: Manager Starting date: 1999-07-21 Nautical Safety Group B.V. Zeesluizen 8 9936HX FARMSUM Netherlands Registration number: 02063029 Function: General Director Starting date: 2011-12-23

Employees

Year	2016	2015	2014	2013	2012
Annual	48	48	47	45	45
Chamber of Commerce	41	33			33

Payments

Description

No Complaints

Total	EUR 19.285
	Last quarter	Last year
Average payment period (days)	39	21
Average delay (days)	24	8

Quarter	Volume	Not overdue	1-30	31-60	61-90	91-120	121+
2018 Q1	A	0,00%	50,00%	50,00%	0,00%	0,00%	0,00%
2017 Q4	A	92,00%	8,00%	0,00%	0,00%	0,00%	0,00%
2017 Q3	A	100,00%	0,00%	0,00%	0,00%	0,00%	0,00%
2017 Q2	A	22,00%	78,00%	0,00%	0,00%	0,00%	0,00%
2017 Q1	A	0,00%	100,00%	0,00%	0,00%	0,00%	0,00%

A = < 10.000, B = < 25.000, C = < 50.000, D = < 125.000, E = > 125.000

Payments within industry		Last quarter			Last year
Average payment period (days)		38			36
Average delay (days)		18			16
Quarter	Not overdue	1-30	31-60	61-90		91-120	121+
2018 Q1	65,00%	28,00%	5,00%	1,00%		0,00%	1,00%
2017 Q4	73,00%	21,00%	3,00%	1,00%		1,00%	2,00%
2017 Q3	61,00%	31,00%	4,00%	2,00%		0,00%	1,00%
2017 Q2	54,00%	38,00%	5,00%	1,00%		0,00%	1,00%
2017 Q1	60,00%	27,00%	6,00%	3,00%		2,00%	2,00%

The above data is an indication of the average payment behaviour of the client. the payment experieneces can be affected by disputes, payment arrangements, etc.

Key figures

Year	2016	2015	2014	2013	2012
Quick ratio	1,50	1,48	1,42	1,32	1,73
Current ratio	1,90	1,98	1,91	1,73	2,28
Working capital/ balance total	0,45	0,47	0,45	0,40	0,53
Equity / balance total	0,48	0,50	0,48	0,43	0,56
Equity / Fixed assets	9,51	11,71	8,77	7,63	11,42
Equity / liabilities	0,94	0,98	0,93	0,75	1,29
Balance total / liabilities	1,94	1,98	1,93	1,75	2,29
Working capital	1.929.692	2.128.624	1.910.829	1.748.110	2.000.181
Equity	2.073.572	2.225.843	2.051.842	1.880.126	2.112.678
Mutation equity	-6,84	8,48	9,13	-11,01	-10,30
Mutation short term liabilities	-1,70	3,51	-12,02	53,25	25,75

Summary

The 2016 financial result structure is a postive working captial of 1.929.692 euro, which is in agreement with 45 % of the total assets of the company. The working capital has diminished with -9.35 % compared to previous year. The ratio, with respect to the total assets of the company has however, declined. The deterioration between 2015 and 2016 has mainly been caused by a change of the current liabilities. The current ratio of the company in 2016 was 1.9. A company with a current ratio between 1.5 and 3.0 generally indicates good short-term financial strength. The quick ratio in 2016 of the company was 1.5. A company with a Quick Ratio of more than 1 can currently pay back its current liabilities. The 2015 financial result structure is a postive working captial of 2.128.624 euro, which is in agreement with 47 % of the total assets of the company. The working capital has increased with 11.4 % compared to previous year. The ratio, with respect to the total assets of the company has however, increased. The improvement between 2014 and 2015 has mainly been caused by a change of the current assets. The current ratio of the company in 2015 was 1.98. A company with a current ratio between 1.5 and 3.0 generally indicates good short-term financial strength. The quick ratio in 2015 of the company was 1.48. A company with a Quick Ratio of more than 1 can currently pay back its current liabilities.

Financial statement

Last annual account	2016
Remark annual account	The company is obliged to file its financial statements.
Type of annual account	Corporate
Annual account	Datema-Delfzijl B.V. Zeesluizen 8 9936HX FARMSUM Netherlands Registration number: 02319278

Balance

Year	2016	2015	2014	2013	2012
End date	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31
Type of annual account	Corporate	Corporate	Corporate	Corporate	Corporate
Tangible fixed assets	218.130	190.113	234.079	246.526	185.062
Fixed assets	218.130	190.113	234.079	246.526	185.062
Total stock	856.993	1.090.362	1.017.703	989.365	860.014
Total receivables	2.911.836	3.111.708	2.885.297	3.138.847	2.688.807
Liquid funds	301.669	104.374	111.864	11.463	11.923
Current assets	4.070.498	4.306.444	4.014.864	4.139.675	3.560.744
Total assets	4.288.628	4.496.557	4.248.943	4.386.201	3.745.806
Issued capital	18.400		18.400	18.400	18.400
Other reserves	2.055.172	2.225.843	2.033.442	1.861.726	2.094.278
Total reserves	2.055.172	2.225.843	2.033.442	1.861.726	2.094.278
Total equity	2.073.572	2.225.843	2.051.842	1.880.126	2.112.678
Provisions	62.333	68.943	60.662	71.041	72.565
Long term interest yielding debt	11.917	23.951	32.404	43.469
Long term liabilities	11.917	23.951	32.404	43.469
Short term liabilities	2.140.806	2.177.820	2.104.035	2.391.565	1.560.563
Total short and long term liabilities	2.215.056	2.270.714	2.197.101	2.506.075	1.633.128
Total liabilities	4.288.628	4.496.557	4.248.943	4.386.201	3.745.806
Summary	The total assets of the company decreased with -4.62 % between 2015 and 2016. Despite the total assets decrease, non current assets grew with 14.74 %. Assets reduction is explained by a Net Worth decrease of -6.84 %, and an indebtedness reduction of -2.45 %. In 2016 the assets of the company were 5.09 % composed of fixed assets and 94.91 % by current assets. The assets are being financed by an equity of 48.35 %, and total debt of 51.65 %. The total assets of the company increased with 5.83 % between 2014 and 2015. Despite the assets growth, the non current assets decreased with -18.78 %. The asset growth has mainly been financed by a Net Worth increase of 8.48 %. Debt, however, grew with 3.35 %. In 2015 the assets of the company were 4.23 % composed of fixed assets and 95.77 % by current assets. The assets are being financed by an equity of 49.5 %, and total debt of 50.5 %.

Analysis

Branch (SBI)	Wholesale of articles for ships and for fishing (no sport fishing) (SBI code 46697)
Region	Groningen
Summary	In the Netherlands 13324 of the companies are registered with the SBI code 46697 In the region Groningen 263 of the companies are registered with the SBI code 46697 In the Netherlands 242 of the bankrupcties are published within this sector In the region Groningen 5 of the bankruptcies are published within this sector The risk of this specific sector in the Netherlands is normal The risk of this specific sector in the region Groningen is normal
Year	2016	Company	2015	Company	2014
Equity	146.275	2.073.572	137.165	2.225.843	132.296
Working capital	147.349	1.929.692	114.354	2.128.624	106.453
Balance total	479.082	4.288.628	487.356	4.496.557	504.645
Quick ratio	1,22	1,50	1,20	1,48	1,17
Current ratio	1,34	1,90	1,58	1,98	1,60
Equity / balance total	0,40	0,48	0,38	0,50	0,37

Publications

Deposits

18-07-2017: De jaarrekening over 2016 is gepubliceerd. 28-07-2016: De jaarrekening over 2015 is gepubliceerd. 23-07-2015: De jaarrekening over 2014 is gepubliceerd. 01-12-2014: De jaarrekening over 2013 is gepubliceerd. 10-12-2013: De jaarrekening over 2012 is gepubliceerd.

Company structure

Relations	5
Company	Registration number
Landvast Beheer B.V. (KROPSWOLDE)	02067031
| - - Nautical Safety Group B.V. (FARMSUM)	02063029
| - - | - - Datema Watersport B.V. (FARMSUM)	02076039
| - - | - - Nautical Information Services B.V. (FARMSUM)	02334057
| - - | - - Datema-Delfzijl B.V. (FARMSUM)	02319278

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 65.22
UK Pound	1	INR 91.33
Euro	1	INR 79.96
Euro	1	INR 80.37

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

INFORMATION DETAILS

Analysis Done by :	VAR
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)

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.