MIRA INFORM REPORT

 

 

Report Date :

23.07.2011

 

IDENTIFICATION DETAILS

 

Name :

BRANDTEX A/S

 

 

Registered Office :

Nordlundvej 1 7330 Brande

 

 

Country :

Denmark

 

 

Financials (as on) :

31.12.2010

 

 

Year of Establishment :

1935

 

 

Legal Form :

Limited company

 

 

Line of Business :

Wholesale of clothing and footwear

 

RATING & COMMENTS

 

MIRA’s Rating :

A

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Maximum Credit Limit :

Estimated 10.000.000 (DK)

 

 

Status :

Good

 

 

Payment Behaviour :

Usually Correct

 

 

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 – March 31st, 2011

 

Country Name

Previous Rating

(31.12.2010)

Current Rating

(31.03.2011)

Denmark

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company ID

 

Main name                    BRANDTEX A/S

Main address                  NORDLUNDVEJ 1

City                               7330 BRANDE

Country                         Denmark

 

Phone-no.                     +45-96-424242

 

Nat. partner ID-no.          185495

 

ID-/Reg.-no.                   75269617 A/S

 

Legal form                     Limited company

 

Company Status            Active

 

 

Activity

 

Activity                          46.42 Wholesale of clothing and footwear

 

No of employeesempl 53

 

 

Management Information

 

Management           CLAUS BORATH SØRENSEN (Managing director)

 

Board of directors   SØREN BACH (Chairman of the board)

                     JESPER IBÆK ROE (Member of the board)

                     CLAUS BORATH SØRENSEN (Member of the board)

 

 

Historical Data

 

Established          1935

 

Registered           1996-07-18

 

 

Credit Facilities

 

Bankers              DANSKE BANK HOLMENS KANAL AFDELING HOLMENS KANAL 2

                     - 1092 KØ

 

 

Financial data

 

Currency             Danish Krone

 

 

Closing date                 2010-12-31        2009-12-31        2008-12-31

 

Source                      Ann. report       Ann. report       Ann. report

 

Turnover                                                        339.941.000

Costs                                                           321.371.000

Ordinary result              24.255.000        22.735.000           558.000

Tax                           6.447.000         7.430.000         2.922.000

Annual result                17.808.000        15.306.000        -2.364.000

 

Assets

Fixed assets                  2.067.000         9.490.000        24.135.000

Current assets               99.517.000        89.302.000       106.430.000

 

Liabilities

Equity capital               61.649.000        53.895.000        52.844.000

Share capital                40.000.000        40.000.000        40.000.000

Long-term debts                 315.000           937.000         1.604.000

Short-term debts             39.620.000        43.960.000        76.117.000

 

Company Ratios

Gearing I                         67,03            101,11            270,72

Acid test ratio I                251,18            203,14            139,82

Acid test ratio II               175,38            130,21            104,14

Return on investment              28,85             28,48             14,22

Return on equity                  39,34             42,18              1,06

Solvency ratio                    60,69             54,55             40,47

 

Property

 

Property             No

 

 

Corporate Structure

 

Parent company       BTX GROUP A/S (ID:134558) (100%)

 

Secondary names(s)   GARMENT TECHNOLOGY A/S

 

Payment profile

 

Payment profile      Payment regular

 

 

Credit Summary

 

Risk class           Very low

 

Credit limit         Estimated 10.000.000

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.37

UK Pound

1

Rs.72.34

Euro

1

Rs.63.87

 

 

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

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

--

NB

                                       New Business

 

--

 

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

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.