|
Report Date : |
11.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
MUSTAD LONGLINE AS |
|
|
|
|
Registered Office : |
Raufossvegen 40, GJÃVIK 2815 |
|
|
|
|
Country : |
Norway |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
01.03.2004 |
|
|
|
|
Com. Reg. No.: |
986593268 |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Manufacture of other special-purpose machinery n.e.c. |
|
|
|
|
No. of Employees : |
38 |
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 |
|
Status : |
Satisfactory |
|
|
|
|
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 – March 31, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
Norway |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
|
Company Name |
MUSTAD LONGLINE AS |
Company Number |
986593268 |
|
Company name |
MUSTAD LONGLINE AS |
Company number |
986593268 |
|
Address |
Raufossvegen 40 |
|
|
|
City |
GJØVIK 2815 |
Legal form |
Limited company |
|
Website address |
E-mail address |
- |
|
|
Telephone Number |
00 47 61137700 |
Fax Number |
00 47 |
|
Registration date |
01/03/2004 |
Status |
Active |
|
Previous Name |
- |
Share capital |
20,712,000 |
|
Name change date |
- |
Currency |
- |
|
|
|
Number of employees |
38 |
Postal Address
|
Address |
City |
Postal Code |
|
Postboks 41 |
GJØVIK |
2801 |
Current Directors
|
Name |
Address |
Function |
|
Fjellstien 3 GJØVIK 2821 |
General manager/CEO |
|
|
Voksenliveien 12 OSLO 0789 |
Chairman of the board |
|
|
Øvre Veg 687 SNERTINGDAL 2838 |
Board member(s) |
|
|
Holsvegen 24 HAMAR 2315 |
Board member(s) |
|
|
Ã…sliveien 13 VETTRE 1392 |
Board member(s) |
|
|
Odnesvegen 595 BYBRUA 2822 |
Board member(s) |
|
|
Drengsrudhagen 79 ASKER 1385 |
Board member(s) |
|
|
Furulia 27 HUNNDALEN 2827 |
Deputy board member/substitute |
|
|
Klopvegen 25 DOKKA 2870 |
Deputy board member/substitute |
Other Company
Officials
No data exist
Na
Shareholders
|
Shareholder Name |
Number of Shares |
Percentage Share |
|
MUSTAD AS |
20,712 |
100.0 |
Na
Ultimate Holding
Company
|
Company Name |
|
Company Number |
|
|
|
|
Key Financials
|
Year to Date |
Sales
Revenue |
Profit
Before Tax |
Total
Equity |
|
2011 |
79,021,000 |
8,735,000 |
39,989,000 |
|
2010 |
45,031,000 |
-5,891,000 |
33,488,000 |
|
2009 |
38,660,000 |
-10,983,000 |
35,636,000 |
|
2008 |
83,902,000 |
-5,625,000 |
42,575,000 |
|
2007 |
98,128,000 |
9,555,000 |
46,904,000 |
Profit & Loss
Account
|
Financial Year |
2011
|
|
2010
|
|
2009
|
|
2008
|
|
2007
|
|
Currency |
NOK
|
|
NOK
|
|
NOK
|
|
NOK
|
|
NOK
|
|
Consolidated Accounts |
No |
|
No |
|
No |
|
No |
|
No |
|
Sales Revenue |
79,021,000 |
75.5 % |
45,031,000 |
16.5 % |
38,660,000 |
-53.9 % |
83,902,000 |
-14.5 % |
98,128,000 |
|
Other operating income |
1,826,000 |
20.8 % |
1,511,000 |
-32.6 % |
2,241,000 |
-11.1 % |
2,521,000 |
35.6 % |
1,859,000 |
|
Total Operating Income |
80,847,000 |
73.7 % |
46,542,000 |
13.8 % |
40,901,000 |
-52.7 % |
86,423,000 |
-13.6 % |
99,987,000 |
|
Total Operating Expenses |
72,939,000 |
40.3 % |
51,988,000 |
3.0 % |
50,484,000 |
-41.8 % |
86,698,000 |
-2.6 % |
88,996,000 |
|
Operating Profit |
7,908,000 |
245.2 % |
-5,446,000 |
43.2 % |
-9,583,000 |
-3,384.7 % |
-275,000 |
-102.5 % |
10,991,000 |
|
Wages & Salaries |
19,734,000 |
35.3 % |
14,580,000 |
-22.1 % |
18,716,000 |
-27.1 % |
25,676,000 |
9.5 % |
23,442,000 |
|
Depreciation |
1,318,000 |
-26.5 % |
1,792,000 |
-42.5 % |
3,115,000 |
9.5 % |
2,845,000 |
-4.0 % |
2,965,000 |
|
Financial Income |
1,844,000 |
77.6 % |
1,038,000 |
710.9 % |
128,000 |
103.4 % |
-3,813,000 |
-911.3 % |
470,000 |
|
Financial Expenses |
1,017,000 |
-31.4 % |
1,483,000 |
-2.9 % |
1,528,000 |
-0.6 % |
1,537,000 |
-19.4 % |
1,906,000 |
|
Profit Before Tax |
8,735,000 |
248.3 % |
-5,891,000 |
46.4 % |
-10,983,000 |
-95.3 % |
-5,625,000 |
-158.9 % |
9,555,000 |
|
Tax |
-2,234,000 |
-221.4 % |
1,840,000 |
-48.0 % |
3,540,000 |
173.1 % |
1,296,000 |
154.1 % |
-2,394,000 |
|
Profit After Tax |
6,501,000 |
260.5 % |
-4,051,000 |
45.6 % |
-7,443,000 |
-71.9 % |
-4,329,000 |
-160.5 % |
7,161,000 |
|
Extraordinary Result |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Dividends |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Net Result after Dividends |
6,501,000 |
260.5 % |
-4,051,000 |
45.6 % |
-7,443,000 |
-71.9 % |
-4,329,000 |
-160.5 % |
7,161,000 |
Balance Sheet
|
Financial Year |
2011
|
|
2010
|
|
2009
|
|
2008
|
|
2007
|
|
Currency |
NOK
|
|
NOK
|
|
NOK
|
|
NOK
|
|
NOK
|
|
Consolidated Accounts |
No |
|
No |
|
No |
|
No |
|
No |
|
Land & Buildings |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Plant & Machinery |
2,216,000 |
- |
0 |
-100.0 % |
5,261,000 |
-42.2 % |
9,100,000 |
- |
0 |
|
Other Tangible Assets |
0 |
-100.0 % |
4,115,000 |
- |
0 |
- |
0 |
-100.0 % |
6,379,000 |
|
Total Tangible Assets |
2,216,000 |
-46.1 % |
4,115,000 |
-21.8 % |
5,261,000 |
-42.2 % |
9,100,000 |
42.7 % |
6,379,000 |
|
Intangible Assets |
3,707,000 |
-43.4 % |
6,547,000 |
8.2 % |
6,052,000 |
77.9 % |
3,402,000 |
-0.3 % |
3,413,000 |
|
Other Fixed Assets |
16,968,000 |
14.1 % |
14,877,000 |
11.0 % |
13,399,000 |
-25.0 % |
17,855,000 |
-32.6 % |
26,472,000 |
|
TOTAL FIXED ASSETS |
22,891,000 |
-10.4 % |
25,539,000 |
3.3 % |
24,712,000 |
-18.6 % |
30,357,000 |
-16.3 % |
36,264,000 |
|
Inventories |
18,527,000 |
-5.0 % |
19,497,000 |
-19.4 % |
24,176,000 |
-6.8 % |
25,948,000 |
4.3 % |
24,884,000 |
|
Trade Receivables |
14,811,000 |
249.2 % |
4,241,000 |
-68.1 % |
13,301,000 |
2.9 % |
12,923,000 |
27.7 % |
10,117,000 |
|
Other Receivables |
4,360,000 |
2.1 % |
4,271,000 |
-14.2 % |
4,980,000 |
48.9 % |
3,344,000 |
0.8 % |
3,317,000 |
|
Cash & Bank Deposits |
9,345,000 |
17.8 % |
7,933,000 |
-38.9 % |
12,977,000 |
646.2 % |
1,739,000 |
-91.3 % |
19,875,000 |
|
Other Current Assets |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
TOTAL CURRENT ASSETS |
47,043,000 |
30.9 % |
35,942,000 |
-35.2 % |
55,434,000 |
26.1 % |
43,954,000 |
-24.5 % |
58,193,000 |
|
TOTAL ASSETS |
69,934,000 |
13.7 % |
61,481,000 |
-23.3 % |
80,146,000 |
7.9 % |
74,311,000 |
-21.3 % |
94,457,000 |
|
Trade Creditors |
8,067,000 |
123.5 % |
3,610,000 |
-47.2 % |
6,836,000 |
9.3 % |
6,255,000 |
-67.0 % |
18,959,000 |
|
Short Term Liabilities to Financial Institutions |
6,500,000 |
- |
0 |
-100.0 % |
20,000,000 |
0.0 % |
20,000,000 |
- |
0 |
|
Short Term Liabilities to Group |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Other Short Term Loans |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Miscellaneous Current Liabilities |
7,445,000 |
124.2 % |
3,321,000 |
-37.2 % |
5,286,000 |
98.2 % |
2,667,000 |
-39.7 % |
4,420,000 |
|
TOTAL CURRENT LIABILITIES |
22,012,000 |
217.6 % |
6,931,000 |
-78.4 % |
32,122,000 |
11.1 % |
28,922,000 |
23.7 % |
23,379,000 |
|
Long Term Liabilities to Financial Institutions |
6,000,000 |
-70.0 % |
20,000,000 |
100.0 % |
10,000,000 |
- |
0 |
-100.0 % |
20,000,000 |
|
Other Long Term Loans |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Long Term Pension Commitments |
1,933,000 |
82.0 % |
1,062,000 |
-55.5 % |
2,388,000 |
-15.1 % |
2,814,000 |
-8.3 % |
3,069,000 |
|
Other Long Term Liabilities |
0 |
- |
0 |
- |
0 |
- |
0 |
-100.0 % |
1,102,000 |
|
TOTAL LONG TERM LIABILITIES |
7,933,000 |
-62.3 % |
21,062,000 |
70.0 % |
12,388,000 |
340.2 % |
2,814,000 |
-88.4 % |
24,171,000 |
|
TOTAL LIABILITIES |
29,945,000 |
7.0 % |
27,993,000 |
-37.1 % |
44,510,000 |
40.3 % |
31,736,000 |
-33.3 % |
47,550,000 |
|
Share Capital |
20,712,000 |
0.0 % |
20,712,000 |
0.0 % |
20,712,000 |
0.0 % |
20,712,000 |
0.0 % |
20,712,000 |
|
Share Premium Reserve |
20,612,000 |
0.0 % |
20,612,000 |
0.0 % |
20,612,000 |
0.0 % |
20,612,000 |
0.0 % |
20,612,000 |
|
Revaluation Fund |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Total Retained Earnings |
-1,335,000 |
83.0 % |
-7,836,000 |
-37.8 % |
-5,688,000 |
-554.7 % |
1,251,000 |
-77.6 % |
5,580,000 |
|
Other Reserves |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
TOTAL EQUITY |
39,989,000 |
19.4 % |
33,488,000 |
-6.0 % |
35,636,000 |
-16.3 % |
42,575,000 |
-9.2 % |
46,904,000 |
Other Financials
|
Financial Year |
2011
|
|
2010
|
|
2009
|
|
2008
|
|
2007
|
|
Total Exports |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Working Capital |
25,031,000 |
-13.7 % |
29,011,000 |
24.4 % |
23,312,000 |
55.1 % |
15,032,000 |
-56.8 % |
34,814,000 |
|
Net Worth |
36,282,000 |
34.7 % |
26,941,000 |
-8.9 % |
29,584,000 |
-24.5 % |
39,173,000 |
-9.9 % |
43,491,000 |
|
Capital Employed |
47,922,000 |
-12.2 % |
54,550,000 |
13.6 % |
48,024,000 |
5.8 % |
45,389,000 |
-36.1 % |
71,075,000 |
Ratios
|
Financial Year |
2011
|
2010
|
2009
|
2008
|
2007
|
|
Pre-Tax Profit Margin |
11.05 |
-13.08 |
-28.41 |
-6.70 |
9.74 |
|
Return on Capital Employed |
18.23 |
-10.80 |
-22.87 |
-12.39 |
13.44 |
|
Return on Total Assets Employed |
12.49 |
-9.58 |
-13.70 |
-7.57 |
10.12 |
|
Return on Net Assets Employed |
21.84 |
-17.59 |
-30.82 |
-13.21 |
20.37 |
|
Sales/Net Working Capital |
3.16 |
1.55 |
1.66 |
5.58 |
2.82 |
|
Stock Turnover Ratio |
23.45 |
43.30 |
62.53 |
30.93 |
25.36 |
|
Debtor Days |
68.41 |
34.38 |
125.58 |
56.22 |
37.63 |
|
Creditor Days |
37.26 |
29.26 |
64.54 |
27.21 |
70.52 |
|
Current Ratio |
2.14 |
5.19 |
1.73 |
1.52 |
2.49 |
|
Liquidity Ratio/Acid Test |
1.30 |
2.37 |
0.97 |
0.62 |
1.42 |
|
Current Debt Ratio |
0.55 |
0.21 |
0.90 |
0.68 |
0.50 |
|
Solvency Ratio |
57.18 |
54.47 |
44.46 |
57.29 |
49.66 |
|
Equity in Percentage |
81.18 |
83.60 |
58.71 |
80.25 |
72.64 |
|
Total Debt Ratio |
0.75 |
0.84 |
1.25 |
0.75 |
1.01 |
Na
Industry
|
Main Industry Code & Description |
Manufacture of other special-purpose machinery n.e.c. |
|
Secondary Industry Code & Description |
- |
|
Other Industry Code & Description |
- |
|
Date |
Description |
|
18/06/2012 |
Limit Change |
|
18/06/2012 |
Rating Change |
|
14/06/2012 |
APPROVED END OF YEAR REPORT AND ACCOUNTS |
|
23/11/2011 |
Limit Change |
|
23/11/2011 |
Rating Change |
Na
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.34 |
|
|
1 |
Rs.86.45 |
|
Euro |
1 |
Rs.68.04 |
INFORMATION DETAILS
|
Report Prepared
by : |
SHG |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.