MIRA INFORM REPORT

 

 

 

Report Date :

26.07.2008

 

IDENTIFICATION DETAILS

 

Name :

INDISKA MAGASINET AB

 

 

Registered Office :

 BOX 27317 10254 Stockholm 

 

 

Country :

Sweden

 

 

Financials (as on) :

31.08.2007

 

 

Date of Incorporation :

19.11.1908

 

 

Com. Reg. No.:

5560085424

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Retail of Clothing, Accessories and Home Furnishing

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

SEK 10000000

 

 

Status :

Good

 

 

Payment Behaviour :

No Complaints

 

 

Litigation :

Clear

 

 

name & address

 

INDISKA MAGASINET AB

 BOX 27317

 10254 STOCKHOLM SE

Tel. Number +46-8-6704500

                                                                          

 

Business registered

 

19 November 1908 - Private limited company (no information regarding quotation)

 

 

Registration number   

 

5560085424,

 

 

Tax number    

 

SE556008542401,

 

 

Legal form

 

Private limited company (no information regarding quotation)

 

 

Activities  

 

No Match!

 No Match!

 

 

Credit opinion

 

High creditworthiness

 Maximum credit limit 10000000 SEK is advised

 

 

Employees (Business)   

 

 421

 

 

Petition for injunction to pay.00 October 2007

 

160

 

L4:H                                                                   

ANDELS- & JURIST INKASS

 

Petition for injunction to pay.00 April 2007        

 9825

 

L4:J                                                                    

EDE AB

 

Petition for injunction to pay.00 November 2006          

425

 

L4:C                                                                   

ARPARK AB

 

Petition for injunction to pay.00 November 2006        

 425

 

L4:C                                                                   

ARPARK AB

 

Petition for injunction to pay.00 May 2006         

 12075

 

L4:W                                                                  

ALLS FASTIGHET AB

 

 

Injunctions (total number)

 

 5

 

 

Injunctions (total amount)    

 

22910

 

 

Total number of judgements, injunctions, claims, etc. (”weak negative facts”)         

 

 5

 

 

 

 

Total share capital

 

SEK 6300000

 

 

Board members   

S!OREN IVE HOLGER RUNG   Board member

ANDERS THAMBERT   Board member

!ASA MYRDAL BRATT   Board member

PATRIK TILLMAN   Board member

 

 

Auditor 

 

ANDERS LINDBY   Auditor

 

 

Management   

 

SOFIE MARIA GUNOLF   Managing director

BARBRO CHRISTINA BAINES   Deputy managing director

MARIA VEERASAMY   Deputy managing director

 

 

Subsidiary company.

 

9165593550   KOMMANDITBOLAGET V!ESTERL!ANGGATAN50   

5566813639   HURRY CURRY I STOCKHOLM AB   100 %   

INDISKA MAGASINET AS   100 %   

INDISKA MAGASINET APS   100 %   

INDISKA MAGASINET OY   100 %   

5563001725   INDISKA FASTIGHETS AB   100 %   

INDISKA INDIA EXPORT SERVICES PVT LTD   80 %   

 

 

Shareholder in ultimate parent company   

 

5566324629   FAMILJEN THAMBERT F!ORVALTNING AB   9 %   Shareholder

 

The business have taken out debentures and /or debenture mortgages?  Yes (mortgages/Debentures) 00 April 1991

 

all debentures and debenture mortgages taken out.  30000000 

 

Corporate balance sheet for the year: 01 September 2006 - 31 August 2007  in  SEK 

 

Total intangible fixed assets

1.000.000,-

Plant, machinery and equipment

10.829.000,-

Total tangible fixed assets

13.946.000,-

Loans, shares and participations

19.604.000,-

Total financial fixed assets

19.610.000,-

Total fixed assets

34.556.000,-

Inventories and work in progress (incl. prepayments)

64.014.000,-

Accounts receivable (trade)

1.559.000,-

Receivables from affiliates and companies in which participations are held

16.656.000,-

Investments (short-term)

18.954.000,-

Cash in hand and at bank

60.130.000,-

Total Current assets

199.334.000,-

Total assets incl. prepaid expenses and accrued income

233.890.000,-

Issued (subscribed) capital

6.300.000,-

Statutory reserves

1.260.000,-

Profit or loss carried forward

149.781.000,-

Profit or loss for the financial year

-22.671.000,-

Total equity (Shareholders' funds)

132.671.000,-

Total long-term liabilities

7.143.000,-

Current accounts payable (trade)

13.876.000,-

Total current liabilities

68.028.000,-

Total liabilities

75.171.000,-

Total equity, provisions, liabilities, accrued expenses and deferred income

233.890.000,-

Number of employees

421,-

Salaries board/Managing Director

3.258.000,-

Salaries to others

110.999.000,-

Total salaries

114.257.000,-

Total salaries and remunerations

114.257.000,-

Social security expenses

44.677.000,-

Dividend

5.130.000,-

Depreciation

8.057.000,-

Floating charges

30.000.000,-

Total pledged assets

30.000.000,-

Other contingent liabilities

306.028.000,-

Total contingent liabilities.

306.028.000,-

Equity/assets ratio

64,-

Acid-test ratio

198,-

Return on assets

-9,-

Cash flow as percentage of total liabilities

-19,-

Debt/equity ratio

55,-

Current ratio

293,-

Return on equity

-15,-

Self-financing rate

-118,-

Interest coverage ratio

-38,-

Inventory turnover rate (times/year)

9,-

Risk buffer

-9,-

Labour costs as percentage of turnover

-18,-

Capital turnover rate (times/year)

2,-

Working capital as percentage of turnover

21,-

Inventory as percentage of turnover

10,-

Current liabilities as percentage of turnover

11,-

Turnover per employee in SEK thousands

1.455.000,-

Cash flow as percentage of financial expenses

-2.623,-

Solvency margin

67,-

Structure of financial fixed assets

56,-

Intangible fixed assets structure

2,-

Tangible fixed assets structure

40,-

Risk ratio

230,-

Credit period received

4,-

Gross margin

-2,-

Operating margin

-3,-

Net margin

-3,-

 

 

Corporate balance sheet for the year: 01 September 2005 - 31 August 2006  in  SEK 

 

Total intangible fixed assets

2.060.000,-

Plant, machinery and equipment

12.116.000,-

Total tangible fixed assets

15.472.000,-

Loans, shares and participations

4.685.000,-

Total financial fixed assets

4.691.000,-

Total fixed assets

22.223.000,-

Inventories and work in progress (incl. prepayments)

83.759.000,-

Accounts receivable (trade)

982.000,-

Receivables from affiliates and companies in which participations are held

30.425.000,-

Investments (short-term)

8.954.000,-

Cash in hand and at bank

82.373.000,-

Total Current assets

232.171.000,-

Total assets incl. prepaid expenses and accrued income

254.394.000,-

Issued (subscribed) capital

6.300.000,-

Statutory reserves

1.260.000,-

Profit or loss carried forward

158.810.000,-

Profit or loss for the financial year

-2.201.000,-

Total equity (Shareholders' funds)

161.911.000,-

Total long-term liabilities

6.113.000,-

Current accounts payable (trade)

8.190.000,-

Total current liabilities

60.322.000,-

Total liabilities

66.435.000,-

Total equity, provisions, liabilities, accrued expenses and deferred income

254.394.000,-

Number of employees

412,-

Salaries board/Managing Director

2.378.000,-

Salaries to others

102.263.000,-

Total salaries

104.641.000,-

Total salaries and remunerations

104.641.000,-

Social security expenses

41.116.000,-

Dividend

5.130.000,-

Depreciation

8.529.000,-

Floating charges

30.000.000,-

Total pledged assets

30.000.000,-

Other contingent liabilities

233.111.000,-

Total contingent liabilities.

233.111.000,-

Equity/assets ratio

70,-

Acid-test ratio

246,-

Return on assets

-3,-

Cash flow as percentage of total liabilities

-5,-

Debt/equity ratio

41,-

Current ratio

384,-

Return on equity

-6,-

Interest coverage ratio

-31,-

Inventory turnover rate (times/year)

6,-

Risk buffer

-4,-

Labour costs as percentage of turnover

-18,-

Capital turnover rate (times/year)

2,-

Working capital as percentage of turnover

29,-

Inventory as percentage of turnover

14,-

Current liabilities as percentage of turnover

10,-

Turnover per employee in SEK thousands

1.402.000,-

Cash flow as percentage of financial expenses

-1.230,-

Solvency margin

73,-

Structure of financial fixed assets

21,-

Intangible fixed assets structure

9,-

Tangible fixed assets structure

69,-

Risk ratio

143,-

Credit period received

3,-

Gross margin

-1,-

Operating margin

-2,-

Net margin

-2,-

 

 

Corporate balance sheet for the year: 01 September 2004 - 31 August 2005  in  SEK 

 

Total intangible fixed assets

3.120.000,-

Plant, machinery and equipment

12.854.000,-

Total tangible fixed assets

15.428.000,-

Loans, shares and participations

4.732.000,-

Total financial fixed assets

4.738.000,-

Total fixed assets

23.286.000,-

Inventories and work in progress (incl. prepayments)

89.992.000,-

Accounts receivable (trade)

1.045.000,-

Receivables from affiliates and companies in which participations are held

78.291.000,-

Investments (short-term)

11.822.000,-

Cash in hand and at bank

51.036.000,-

Total Current assets

252.113.000,-

Total assets incl. prepaid expenses and accrued income

275.399.000,-

Issued (subscribed) capital

6.300.000,-

Statutory reserves

1.260.000,-

Profit or loss carried forward

155.201.000,-

Profit or loss for the financial year

8.739.000,-

Total equity (Shareholders' funds)

171.500.000,-

Total long-term liabilities

4.473.000,-

Current accounts payable (trade)

8.839.000,-

Total current liabilities

63.259.000,-

Total liabilities

67.732.000,-

Total equity, provisions, liabilities, accrued expenses and deferred income

275.399.000,-

Number of employees

382,-

Salaries board/Managing Director

2.090.000,-

Salaries to others

97.466.000,-

Total salaries

99.556.000,-

Total salaries and remunerations

99.556.000,-

Social security expenses

41.122.000,-

Dividend

5.130.000,-

Depreciation

7.711.000,-

Floating charges

30.000.000,-

Total pledged assets

30.000.000,-

Other contingent liabilities

150.779.000,-

Total contingent liabilities.

150.779.000,-

Equity/assets ratio

71,-

Acid-test ratio

256,-

Return on assets

5,-

Cash flow as percentage of total liabilities

25,-

Debt/equity ratio

40,-

Current ratio

398,-

Return on equity

6,-

Interest coverage ratio

50,-

Inventory turnover rate (times/year)

6,-

Risk buffer

4,-

Labour costs as percentage of turnover

-17,-

Capital turnover rate (times/year)

2,-

Working capital as percentage of turnover

34,-

Inventory as percentage of turnover

16,-

Current liabilities as percentage of turnover

11,-

Turnover per employee in SEK thousands

1.450.000,-

Cash flow as percentage of financial expenses

6.370,-

Solvency margin

75,-

Structure of financial fixed assets

20,-

Intangible fixed assets structure

13,-

Tangible fixed assets structure

66,-

Risk ratio

87,-

Credit period received

4,-

Gross margin

3,-

Operating margin

1,-

Net margin

2,-

 

 

Corporate profit and loss account for the year: 01 September 2006 - 31 August 2007  in  SEK 

 

Main revenue (sales/turnover)

607.474.000,-

Total operating income/revenue

612.747.000,-

Cost of materials (type of expenditure format)

-298.355.000,-

Inventories and work in progress (incl. prepayments)

-298.355.000,-

Personnel costs

-163.368.000,-

Depreciation

-8.057.000,-

Total operating expenses

-635.964.000,-

Gross profit or loss after cost of materials or after cost of goods sold

309.119.000,-

Operating profit or loss

-23.217.000,-

Receivables from affiliates and companies in which participations are held

-3.070.000,-

Financial income

1.103.000,-

Financial expenses

-557.000,-

Result of ordinary operations

-22.671.000,-

Pre-tax and pre-appropriation profit or loss

-22.671.000,-

Net profit or loss

-22.671.000,-

 

 

Corporate profit and loss account for the year: 01 September 2005 - 31 August 2006  in  SEK 

 

Main revenue (sales/turnover)

577.417.000,-

Total operating income/revenue

577.929.000,-

Cost of materials (type of expenditure format)

-269.038.000,-

Inventories and work in progress (incl. prepayments)

-269.038.000,-

Personnel costs

-148.957.000,-

Depreciation

-8.529.000,-

Total operating expenses

-592.896.000,-

Gross profit or loss after cost of materials or after cost of goods sold

308.379.000,-

Operating profit or loss

-14.967.000,-

Financial income

2.955.000,-

Financial expenses

-308.000,-

Result of ordinary operations

-12.320.000,-

Pre-tax and pre-appropriation profit or loss

-12.320.000,-

Appropriations

10.119.000,-

Net profit or loss

-2.201.000,-

 

 

Corporate profit and loss account for the year: 01 September 2004 - 31 August 2005  in  SEK 

 

Main revenue (sales/turnover)

549.089.000,-

Total operating income/revenue

553.904.000,-

Cost of materials (type of expenditure format)

-231.241.000,-

Inventories and work in progress (incl. prepayments)

-231.241.000,-

Personnel costs

-144.569.000,-

Depreciation

-7.711.000,-

Total operating expenses

-543.536.000,-

Gross profit or loss after cost of materials or after cost of goods sold

317.848.000,-

Operating profit or loss

10.368.000,-

Financial income

3.476.000,-

Financial expenses

-272.000,-

Result of ordinary operations

13.572.000,-

Pre-tax and pre-appropriation profit or loss

13.572.000,-

Appropriations

-879.000,-

Taxes

-3.954.000,-

Net profit or loss

8.739.000,-

 

Turnover for the period: 01 September 2006 - 31 August 2007  in  SEK 612.747.000,00

 Not consolidated profit and loss turnover of the business: Figure given by an official source: 

 

Turnover for the period: 01 September 2005 - 31 August 2006  in  SEK 577.929.000,00

 Not consolidated profit and loss turnover of the business: Figure given by an official source: 

 

Turnover for the period: 01 September 2004 - 31 August 2005  in  SEK 553.904.000,00

 Not consolidated profit and loss turnover of the business: Figure given by an official source: 

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.42.23

UK Pound

1

Rs.83.88

Euro

1

Rs.66.41

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

NR

In view of the lack of information, we have no basis upon which to recommend credit dealings

No Rating

 

 

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 and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                 Payment record (10%)

Credit history (10%)                    Market trend (10%)                                Operational size (10%)

 

 

 

 

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