MIRA INFORM REPORT

 

 

Report No. :

511092

Report Date :

25.05.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

EKC EUROPE GMBH

 

 

Registered Office :

Bismarckstr. 120 D 47057 Duisburg

 

 

Country :

Germany

 

 

Financials (as on) :

31.03.2017

 

 

Date of Incorporation :

18.05.2011

 

 

Com. Reg. No.:

HRB 24335

 

 

Legal Form :

Private limited company

 

 

Line of Business :

·         Manufacture of other tanks, reservoirs and containers of metal

·         Wholesale of other equipment and accessories for machinery and technical supplies

·         Other engineering activities

 

 

No. of Employees :

6

 

 

RATING & COMMENTS

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

 

MIRA’s Rating :

B

 

Credit Rating

Explanation

Rating Comments

B

Medium Risk

Business dealings permissible on a regular monitoring basis

 

Status :

Moderate

 

 

Payment Behaviour :

Slow 

 

 

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 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.

 

Source : CIA

 

Company name and address

 

EKC Europe GmbH

 

Bismarckstr. 120

D 47057 Duisburg

Telephone:0203/3063860

Telefax:  0203/3063869

Homepage: www.ekc-eu.de

E-mail:   info@ekc-eu.com

 

 

Company Status

 

Active

                    

 

VAT no.

 

DE281233736

 

 

Tax ID number

 

109/5920/0792

 

 

Company summery

 

LEGAL FORM               Private limited company

Date of foundation:       18.05.2011

Shareholders'

agreement:                    18.05.2011

Registered on:              16.03.2012

Commercial Register:    Local court 47051 Duisburg

under:                                       HRB 24335

 

Share capital:                          EUR             25,000.00

 

Shareholder:

                     EKC International FZE

                     PLOT NO M 03130 P.O. Box

                     JEBEL ALI FREE ZONE

                     UAE 61041 Dubai

                     Legal form: Other legal form

                     Share:             EUR             25,000.00

Manager:

                     Pushkar Kumar Khurana

                     IND  Colaba Mumbai

                     having sole power of representation

                     born: 17.07.1972

                     Nationality: Indian

 

 

COMPANY HISTORY

 

company name and legal form

17.02.2012 - 16.03.2012  EKC Europe GmbH

                         Heinrich-Heine-Allee 12 c/o

                         D 40213 Düsseldorf

                         Private limited company

24.06.2011 - 17.02.2012  Blitz D11-eins-sechs-drei GmbH

                         D 40210 Düsseldorf

                         Private limited company

 

 

BUSINESS ACTIVITIES

 

Main industrial sector

2529    Manufacture of other tanks, reservoirs and containers of metal

46693   Wholesale of other equipment and accessories for machinery and technical supplies

71129   Other engineering activities

 

 

FINANCIAL INFORMATION

 

Payment experience:     Slow

 

Negative information:    We have no negative information at hand.

 

Balance sheet year:       2016/2017

 

 

REAL ESTATE

 

Type of ownership:        Tenant

Address                        Bismarckstr. 120

                                    D 47057 Duisburg

 

Land register documents were not available.

 

 

BANKERS

 

COMMERZBANK, 80704 MÜNCHEN

Sort. code: 70040041, Account no.: 2779932

BIC: COBADEFFXXX

 

 

FINANCIAL FIGURES

 

Turnover:            2016              *EUR            870,000.00

                     2017              *EUR            870,000.00

further business figures:

Equipment:                             *EUR             45,000.00

Ac/ts receivable:                      *EUR             39,000.00

Liabilities:                            EUR            322,604.00

Employees:                                                      6

 

The business figures marked with an asterisk are estimates based

 on average values in the line of business.

 

 

BALANCE SHEETS

 

Balance sheet ratios 01.04.2016 - 31.03.2017

Equity ratio [%]:                 86.08

Liquidity ratio:                   9.61

Return on total capital [%]:       0.10

 

Balance sheet ratios 01.04.2015 - 31.03.2016(1)

Equity ratio [%]:                  1.21

Liquidity ratio:                   1.04

Return on total capital [%]:      -0.46

 

Balance sheet ratios 01.04.2014 - 31.03.2015(1)

Equity ratio [%]:                -14.13

Liquidity ratio:                   0.88

Return on total capital [%]:     -25.31

 

Balance sheet ratios 01.04.2013 - 31.03.2014(1)

Equity ratio [%]:                 47.05

Liquidity ratio:                   2.24

Return on total capital [%]:     -94.45

 

(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.

 

 

Type of balance

sheet:               Company balance sheet

Origin of the present

balance sheet:       electronic German Federal Gazette

 

Financial year:      01.04.2016 - 31.03.2017

 

ASSETS                                  EUR          1,953,246.03

 Fixed assets                           EUR              1,863.50

  Intangible assets                     EUR                  2.00

  Tangible assets                       EUR              1,861.50

 Current assets                         EUR          1,617,383.09

  Stocks                                EUR             94,797.74

   Received advance payments for orders

   (depreciated on the assets side)     EUR             -5,010.00

  Accounts receivable                   EUR          1,476,524.00

   Other debtors and assets             EUR          1,476,524.00

  Liquid means                          EUR             46,061.35

 Remaining other assets                 EUR            333,999.44

  Accruals (assets)                     EUR              5,236.00

  Deficit not covered by shareholders'

  equity                                EUR            328,763.44

 

LIABILITIES                             EUR          1,953,246.03

 Shareholders' equity                   EUR                  0.00

  Capital                               EUR             25,000.00

   Subscribed capital (share capital)   EUR             25,000.00

  Balance sheet profit/loss (+/-)       EUR           -353,763.44

   Profit / loss brought forward        EUR           -355,338.80

   Annual surplus / annual deficit      EUR              1,575.36

  Other shareholders' equity (+/-)      EUR            328,763.44

   Deficit not covered by shareholders'

   equity                               EUR            328,763.44

 Provisions                             EUR             24,000.00

 Liabilities                            EUR          1,929,246.03

 

Type of balance

sheet:               micro balance sheet

Origin of the present

balance sheet:       Other

 

Financial year:      01.04.2015 - 31.03.2016 (2)

 

ASSETS                                  EUR          1,352,949.81

 Fixed assets                           EUR                131.50

 Current assets                         EUR          1,022,479.51

 Remaining other assets                 EUR            330,338.80

  Deficit not covered by shareholders'

  equity                                EUR            330,338.80

 

LIABILITIES                             EUR          1,352,949.81

 Shareholders' equity                   EUR                  0.00

 Provisions                             EUR             26,200.00

 Liabilities                            EUR          1,326,749.81

  thereof total due to shareholders     EUR            342,734.37

 

(2) The abbreviated depth of presentation of the annual accounts

may be atributed to application of regulations within the German

Micro-Entities Amending Accounting Law.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 68.39

UK Pound

1

INR 91.44

Euro

1

INR 80.14

Euro

1

INR 79.06

 

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.