|
|
|
MIRA
INFORM REPORT
|
Report No. : |
510514 |
|
Report Date : |
29.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
DURO STEEL AG |
|
|
|
|
Registered Office : |
Alpenquai
28°, 6005 Luzern/LU |
|
|
|
|
Country : |
Switzerland |
|
|
|
|
Date of Incorporation : |
03.04.2012 |
|
|
|
|
Com. Reg. No.: |
100.3.794.394-2 |
|
|
|
|
Legal Form : |
Company limited by shares |
|
|
|
|
Line of Business : |
The company engages in the international trade of first-
and second-class steel materials, and stainless steel, nonferrous metal,
prefabricated and other engineering products. |
|
|
|
|
No. of Employees : |
1-9 |
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 : |
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) |
|
Switzerland |
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 |
SWITZERLAND - ECONOMIC OVERVIEW
Switzerland, a country that espouses neutrality, is a prosperous and modern market economy with low unemployment, a highly skilled labor force, and a per capita GDP among the highest in the world. Switzerland's economy benefits from a highly developed service sector, led by financial services, and a manufacturing industry that specializes in high-technology, knowledge-based production. Its economic and political stability, transparent legal system, exceptional infrastructure, efficient capital markets, and low corporate tax rates also make Switzerland one of the world's most competitive economies.
The Swiss have brought their economic practices largely into conformity with the EU's to gain access to the Union’s Single Market and enhance the country’s international competitiveness. Some trade protectionism remains, however, particularly for its small agricultural sector. The fate of the Swiss economy is tightly linked to that of its neighbors in the euro zone, which purchases half of Swiss exports. The global financial crisis of 2008 and resulting economic downturn in 2009 stalled demand for Swiss exports and put Switzerland into a recession. During this period, the Swiss National Bank (SNB) implemented a zero-interest rate policy to boost the economy, as well as to prevent appreciation of the franc, and Switzerland's economy began to recover in 2010.
The sovereign debt crises unfolding in neighboring euro-zone countries, however, coupled with economic instability in Russia and other eastern European economies drove up demand for the Swiss franc by investors seeking a safe-haven currency. In January 2015, the SNB abandoned the Swiss franc’s peg to the euro, roiling global currency markets and making active SNB intervention a necessary hallmark of present-day Swiss monetary policy. The independent SNB has upheld its zero interest rate policy and conducted major market interventions to prevent further appreciation of the Swiss franc, but parliamentarians have urged it to do more to weaken the currency. The franc's strength has made Swiss exports less competitive and weakened the country's growth outlook; GDP growth fell below 2% per year from 2011 through 2017.
In recent years, Switzerland has responded to increasing pressure from neighboring countries and trading partners to reform its banking secrecy laws, by agreeing to conform to OECD regulations on administrative assistance in tax matters, including tax evasion. The Swiss government has also renegotiated its double taxation agreements with numerous countries, including the US, to incorporate OECD standards.
|
Source
: CIA |
Company name and address
Duro Steel AG
Operating address:
Alpenquai 28a
6005
Luzern/LU
Switzerland/CH
Web site: http://www.durosteel.ch
E-mail: info@durosteel.ch
WIN Worldbox No.: CH0009378479
VAT-No.: CHE-354.652.211 MWST
UID-No.: CHE354652211
Profile
Established: 2012
History: The
company is a Switzerland based steel trading firm. It was started by the
Moondhra family who have Steel Interests in India and is now managed by Devvrat
Moondhra.
Line of Business: Consumer goods wholesale
Industry Division: Wholesale trade
Industry-code (NACE): 4672 Wholesale of metals and metal ores
Import/Export: Import,
Export
Banks: unknown
Operational
Figures
Coverage: Company
Figures: estimated
Financial year: 2017
Employees: 1-9
Sales: CHF
8-10 Mio
Activity
The company engages in the
international trade of first- and second-class steel materials, and stainless
steel, nonferrous metal, prefabricated and other engineering products.
The Duro model is based on
creating an efficient supply chain, eliminating several layers consisting of
service centres, traders and agents. The company provides maximum transparency
to their customers with a strong access to coil wise data, thereby increasing
our ability to be both reliable and flexible. The company operates as a scale accumulator of material
allowing it significant economies of scale in both procurement and logistics.
The company has supply base working with mills such as Arcelor Mittal,
Thyssenkrupp, Gerdau Steel, Voestalpine and Ivaco.
The company
also has a market space that spreads across India, Pakistan, Turkey, Middle
East & North Africa.
BUSINESS AREAS:
- Trading of Flat Products.
- Trading of Wire rods , Pipes
and Bright Bars
- Trading of Stainless Steel
The company offers mills the
complete array of products it can distribute through its network around the
world.
The company
is a stocklot wire rod supplier into India.
The company is a exporter of
stocklot flat product out of Europe and Canada.
Operations and Branches:
At the address, Alpenquai 28a,
6005 Luzern, Switzerland, we find the registered office of the company.
Real Estate
Real Estate: The company does not appear to own any property.
Company
Register
Company No: 100.3.794.394-2
UID-No.: CHE354652211
Legal form: Company limited by shares
Registration: 03.04.2012
Legal status: active
Responsible Register: Handelsregister
des Kantons Luzern
History: Date
of Statutes: 27.10.2015
Date
of Incorporation Statutes: 02.04.2012
Entry Deleted Name
07.12.2015 Duro
Steel AG
03.04.2012 07.12.2015 Dhamm SK AG
Entry Deleted Legal domicile
03.04.2012 Luzern, Switzerland
Entry Deleted Address
16.04.2012 Alpenquai
28a, 6005 Luzern/LU, Switzerland/CH
03.04.2012 16.04.2012 Alpenstrasse 28a, 6005 Luzern/LU,
Switzerland/CH
Entry Deleted Capital
03.04.2012 Share Capital CHF 375,000, paidup CHF 375,000
Entry Deleted Capital Structure
03.04.2012 750 Registered shares with restricted
transferability of CHF 500.--
Official
Administration
Title Name
President Moondhra, Devvrat
Citizen:
India
Residential
address: Mumbai , India
joint
signature of two
Registered
since: 07.12.2015
Director Sidler,
Bruno
Citizen:
Wädenswil, Switzerland
Residential
address: Wädenswil, Switzerland
joint
signature of two
Registered
since: 04.05.2018
Director Züger,
Sascha Erhard
Citizen:
Wangen (SZ), Switzerland
Residential
address: Pfäffikon, Switzerland
joint
signature of two
Registered
since: 04.05.2018
External Positions
Title Name
Auditor ABACOR
Revisions AG,
Residential
address: Cham, Switzerland
Id:
CHE-146.350.907
Registered
since: 04.05.2018
Direct owner/-s
Owner: The
company is privately owned.
Under Swiss Company Law, limited
companies (AG, SA, LTD.) are not required to file information on shareholders
of a company.
Investments
It is believed that the company
has no investments.
Financials
Balance sheet publication:
The subject company does not
publish financial figures.
Legal Actions
Control date Year No. Amount CHF Status
10.10.2014 2014 0 Legal
actions
31.12.2013 2013 0 Legal
actions
31.12.2012 2012 0 Legal
actions
31.12.2011 2011 0 Legal
actions
No legal actions determined.
An updated legal action check is
only available against proof of interest. e.g. a copy of an enquiry letter, and
order or invoice relating to the subject company.
Sanctions List
We did not find the company
included on the various international sanctions lists, such as the OFAC (Office
of Foreign Assets Control), the BIS (Bureau of Industry and Security), the
European Union Restrictive measures (sanctions) list, the Export Control
Organisation (ECO) of the UK, the Australian Department of Foreign Affairs and
Trade.
Payment experiences
Payment experiences are
considered to be in order.
Remarks
- There is no telephone number
registered for this company.
SISTER COMPANIES:
- ArcelorMittal Dhamm Processing
Pvt. Ltd.
> Joint Venture between
ArcelorMittal Distribution Solutions International and Dhamm Steel Services
Pvt.Ltd.
> Laser, Plasma, Oxy Cutting,
Shot Blasting, Bending, Machining, Welding, Painting, Assembely &
Logistics.
- Steel Mart India. Pvt. Ltd
> Steel Mart India Pvt. Ltd.
is focused on low cost, organized, and reliable steel distribution for
construction and infrastructure segment of Indian economy.
> Authorized channel partner
for JSW & JSPL.
> Agent and Stockist for
Industeel for Abrasion & High Strength Plates.
> Distribution Partner with
Saint Gobain
> Channel partner for
Emirates Steel.
Credit Information
Financial Statements: The
company does not disclose any financial statements. Third parties are not
permitted any insight into the financial affairs. It is therefore difficult to
make a proper assessment of the actual situation.
Financial Situation: The
financial situation is difficult to assess.
Payment experiences: No Complaints.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 67.44 |
|
|
1 |
INR 89.89 |
|
Euro |
1 |
INR 70.00 |
|
CHF |
1 |
INR 68.24 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
PRA |
|
|
|
|
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.