MIRA INFORM REPORT

 

 

 

Report Date :

24.09.2008

 

IDENTIFICATION DETAILS

 

Name :

NORDIC RAW MATERIALS AB

 

 

Registered Office :

Box 223 24402 Furulund 

 

 

Country :

Sweden

 

 

Financials (as on) :

31.12.2007

 

 

Date of Incorporation :

28.02.2007

 

 

Com. Reg. No.:

5567247308

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Wholesale of Waste and Scrap

Miscellaneous Durable Goods Merchant Wholesalers

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

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

Small

 

Maximum Credit Limit :

SEK 1500000

 

 

Status :

Small Company

 

 

Payment Behaviour :

No Complaints

 

 

Litigation :

Clear

 

 

name & address

 

NORDIC RAW MATERIALS AB

 BOX 223

 24402 FURULUND SE

Tel. Number +46-46-722600

 

 

Business registered

 

28 February 2007 - Private limited company (no information regarding quotation)

 

 

Registration number   

 

5567247308,

 

 

Tax number    

 

SE556724730801,

 

 

Legal form

 

Private limited company (no information regarding quotation)

 

 

Activities  

 

4677

 

 

Credit opinion

 

Normal creditworthiness

Maximum credit limit 1500000 SEK is advised

 

 

Employees (Business)   

 

2

 

 

Total share capital

 

SEK 1000000

 

 

Board members   

 

MARTIN PER !AKE LUNDSTR!OM   Board member

LENA MARIANNE UPADHYAYA   Board member

NAVEEN UPADHYAYA   Board member

 

 

Auditor 

 

H!AKAN HOLLERUP   Auditor

 

 

Management   

 

LALIT UPADHYAYA   Managing director

                                                         

 

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

all debentures and debenture mortgages taken out.  6000000 

 

Corporate balance sheet for the year: 28 February 2007 - 31 December 2007  in  SEK 

 

Plant, machinery and equipment

7.000,-

Total tangible fixed assets

7.000,-

Total fixed assets

7.000,-

Accounts receivable (trade)

3.051.000,-

Cash in hand and at bank

1.473.000,-

Total Current assets

4.538.000,-

Total assets incl. prepaid expenses and accrued income

4.545.000,-

Issued (subscribed) capital

1.000.000,-

Profit or loss for the financial year

635.000,-

Total equity (Shareholders' funds)

1.635.000,-

Total long-term liabilities

1.988.000,-

Current accounts payable (trade)

635.000,-

Total current liabilities

922.000,-

Total liabilities

2.910.000,-

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

4.545.000,-

Number of employees

2,-

Salaries board/Managing Director

210.000,-

Total salaries

210.000,-

Total salaries and remunerations

210.000,-

Social security expenses

63.000,-

Depreciation

4.000,-

Floating charges

6.000.000,-

Total pledged assets

6.000.000,-

Equity/assets ratio

35,-

Acid-test ratio

492,-

Return on assets

22,-

Average interest on debt

-2,-

Cash flow as percentage of total liabilities

23,-

Debt/equity ratio

178,-

Current ratio

492,-

Return on equity

58,-

Interest coverage ratio

15,-

Risk buffer

20,-

Capital turnover rate (times/year)

8,-

Working capital as percentage of turnover

9,-

Accounts receivable as percentage of turnover

8,-

Current liabilities as percentage of turnover

2,-

Turnover per employee in SEK thousands

18.708.000,-

Cash flow as percentage of financial expenses

1.047,-

Solvency margin

35,-

Tangible fixed assets structure

100,-

Gross margin

1,-

Operating margin

1,-

Net margin

2,-

 

Corporate profit and loss account for the year: 28 February 2007 - 31 December 2007  in  SEK 

 

Main revenue (sales/turnover)

34.298.000,-

Total operating income/revenue

34.298.000,-

Cost of materials (type of expenditure format)

-32.445.000,-

Personnel costs

-286.000,-

Depreciation

-4.000,-

Total operating expenses

-33.698.000,-

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

1.853.000,-

Operating profit or loss

601.000,-

Financial income

342.000,-

Financial expenses

-61.000,-

Result of ordinary operations

882.000,-

Pre-tax and pre-appropriation profit or loss

882.000,-

Taxes

-247.000,-

Net profit or loss

635.000,-

 

Turnover for the period: 28 February 2007 - 31 December 2007  in  SEK 34.298.000,00

 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.45.83

UK Pound

1

Rs.84.90

Euro

1

Rs.67.26

 

 

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