|
Report Date : |
10.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
INTER-SUN AS
|
|
|
|
|
Registered Office : |
Verkstedveien 8, SKI 1400 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
2011 |
|
|
|
|
Date of Incorporation : |
19.02.1995 |
|
|
|
|
Com. Reg. No.: |
811784192 |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Wholesaler of clothing |
|
|
|
|
No. of Employees : |
29 employees |
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
|
|
|
The Norwegian
economy is a prosperous mixed economy, with a vibrant private sector, a large
state sector, and an extensive social safety net. The government controls key areas,
such as the vital petroleum sector, through extensive regulation and
large-scale state-majority-owned enterprises. The country is richly endowed
with natural resources - petroleum, hydropower, fish, forests, and minerals -
and is highly dependent on the petroleum sector, which accounts for the largest
portion of export revenue and about 20% of government revenue.
|
Source
: CIA |
|
Company name |
INTER-SUN AS |
Company number |
811784192 |
|
Address |
Verkstedveien 8 |
|
|
|
City |
SKI 1400 |
Legal form |
Limited company |
|
Website address |
E-mail address |
||
|
Telephone Number
|
00 47 64855300 |
Fax Number |
00 47 64875606 |
|
Registration
date |
19/02/1995 |
Status |
Active |
|
Previous Name |
- |
Share capital |
2,500,000 |
|
Name change date
|
- |
Currency |
- |
|
|
|
Number of
employees |
29 |
Postal Address
|
Address |
City |
Postal Code |
|
Postboks 104 |
SKI |
1401 |
Current Directors
|
Name |
Address |
Function |
|
Grønne, Jens Bo |
Høysletta 6 SKI 1400 |
General manager/CEO |
|
Grønne, Jens Bo |
Høysletta 6 SKI 1400 |
Chairman of the board |
|
Grønne, Jens-Martin |
Thorvald Meyers Gate 51 |
Board member(s) |
|
Grønne, Ann Pernille |
Henrichsens Gate 2 A |
Board member(s) |
No negative information found
|
Share capital |
2,500,000 |
|
Shareholder Name
|
Number of Shares
|
Percentage Share
|
|
GRØNNE HOLDING AS |
476 |
95.2 |
|
MATS MARIUS GRØNNE |
6 |
1.2 |
|
ANN PERNILLE GRØNNE |
6 |
1.2 |
|
MIA MARLENE GRØNNE |
6 |
1.2 |
|
JENS-MARTIN GRØNNE |
6 |
1.2 |
Ultimate Holding
Company
|
Company Name |
|
Company Number |
|
|
GRØNNE HOLDING AS |
|
988807362 |
|
Key Financials
|
Year to Date |
Sales Revenue |
Profit Before
Tax |
Total Equity |
|
2011 |
144,484,000 |
20,551,000 |
50,184,000 |
|
2010 |
136,745,000 |
17,876,000 |
39,567,000 |
|
2009 |
137,431,000 |
-370,000 |
30,797,000 |
|
2008 |
125,225,000 |
16,585,000 |
37,440,000 |
|
2007 |
96,728,000 |
11,703,000 |
30,154,000 |
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 |
144,484,000 |
5.7 % |
136,745,000 |
-0.5 % |
137,431,000 |
9.7 % |
125,225,000 |
29.5 % |
96,728,000 |
|
Other operating income |
12,186,000 |
4.2 % |
11,692,000 |
-1.9 % |
11,915,000 |
6.8 % |
11,153,000 |
20.1 % |
9,289,000 |
|
Total Operating Income |
156,670,000 |
5.5 % |
148,437,000 |
-0.6 % |
149,346,000 |
9.5 % |
136,378,000 |
28.6 % |
106,017,000 |
|
Total Operating Expenses |
121,945,000 |
3.6 % |
117,756,000 |
-4.7 % |
123,537,000 |
15.4 % |
107,046,000 |
16.8 % |
91,648,000 |
|
Operating Profit |
34,724,000 |
13.2 % |
30,681,000 |
18.9 % |
25,810,000 |
-12.0 % |
29,332,000 |
104.1 % |
14,369,000 |
|
Wages & Salaries |
17,277,000 |
4.1 % |
16,595,000 |
-1.3 % |
16,810,000 |
-0.3 % |
16,868,000 |
22.1 % |
13,820,000 |
|
Depreciation |
723,000 |
-23.7 % |
948,000 |
-15.1 % |
1,116,000 |
12.7 % |
990,000 |
16.2 % |
852,000 |
|
Financial Income |
1,817,000 |
-59.8 % |
4,520,000 |
434.3 % |
846,000 |
-84.6 % |
5,485,000 |
185.5 % |
1,921,000 |
|
Financial Expenses |
15,991,000 |
-7.7 % |
17,325,000 |
-35.9 % |
27,025,000 |
48.2 % |
18,233,000 |
297.5 % |
4,587,000 |
|
Profit Before Tax |
20,551,000 |
15.0 % |
17,876,000 |
4,931.4 % |
-370,000 |
-102.2 % |
16,585,000 |
41.7 % |
11,703,000 |
|
Tax |
-9,934,000 |
-9.1 % |
-9,107,000 |
-45.2 % |
-6,273,000 |
32.5 % |
-9,299,000 |
-184.5 % |
-3,268,000 |
|
Profit After Tax |
10,617,000 |
21.1 % |
8,769,000 |
232.0 % |
-6,643,000 |
-191.2 % |
7,286,000 |
-13.6 % |
8,435,000 |
|
Extraordinary Result |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Dividends |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Net Result after Dividends |
10,617,000 |
21.1 % |
8,769,000 |
232.0 % |
-6,643,000 |
-191.2 % |
7,286,000 |
-13.6 % |
8,435,000 |
Balance Sheet
|
Financial Year |
2011 |
|
2010 |
|
2009 |
|
2008 |
|
2007 |
|
Currency |
NOK |
|
NOK |
|
NOK |
|
NOK |
|
NOK |
|
Consolidated Accounts |
No |
|
No |
|
No |
|
No |
|
No |
|
Land & Buildings |
2,243,000 |
0.0 % |
2,243,000 |
0.0 % |
2,243,000 |
7.0 % |
2,096,000 |
0.0 % |
2,096,000 |
|
Plant & Machinery |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Other Tangible Assets |
1,727,000 |
-15.0 % |
2,031,000 |
-13.0 % |
2,334,000 |
1.7 % |
2,294,000 |
-16.5 % |
2,747,000 |
|
Total Tangible Assets |
3,970,000 |
-7.1 % |
4,274,000 |
-6.6 % |
4,577,000 |
4.3 % |
4,390,000 |
-9.4 % |
4,843,000 |
|
Intangible Assets |
1,466,000 |
-4.2 % |
1,531,000 |
-32.1 % |
2,256,000 |
49.8 % |
1,506,000 |
31.8 % |
1,143,000 |
|
Other Fixed Assets |
47,045,000 |
73.5 % |
27,114,000 |
8.7 % |
24,951,000 |
1.2 % |
24,650,000 |
-37.4 % |
39,398,000 |
|
TOTAL FIXED ASSETS |
52,481,000 |
59.4 % |
32,919,000 |
3.6 % |
31,784,000 |
4.1 % |
30,546,000 |
-32.7 % |
45,384,000 |
|
Inventories |
17,443,000 |
60.9 % |
10,842,000 |
-14.2 % |
12,634,000 |
-26.8 % |
17,270,000 |
58.0 % |
10,933,000 |
|
Trade Receivables |
19,646,000 |
377.1 % |
4,118,000 |
-58.7 % |
9,965,000 |
-4.8 % |
10,472,000 |
213.1 % |
3,345,000 |
|
Other Receivables |
4,703,000 |
95.9 % |
2,401,000 |
12.7 % |
2,131,000 |
-69.0 % |
6,879,000 |
134.9 % |
2,928,000 |
|
Cash & Bank Deposits |
8,796,000 |
-69.7 % |
29,024,000 |
163.7 % |
11,006,000 |
-34.0 % |
16,670,000 |
40.1 % |
11,900,000 |
|
Other Current Assets |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
TOTAL CURRENT ASSETS |
50,588,000 |
9.1 % |
46,385,000 |
29.8 % |
35,736,000 |
-30.3 % |
51,291,000 |
76.2 % |
29,106,000 |
|
TOTAL ASSETS |
103,069,000 |
30.0 % |
79,304,000 |
17.5 % |
67,521,000 |
-17.5 % |
81,837,000 |
9.9 % |
74,489,000 |
|
Trade Creditors |
3,599,000 |
99.2 % |
1,807,000 |
-40.5 % |
3,036,000 |
-12.2 % |
3,459,000 |
-1.6 % |
3,516,000 |
|
Short Term Liabilities to Financial Institutions |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Short Term Liabilities to Group |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Other Short Term Loans |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Miscellaneous Current Liabilities |
20,758,000 |
142.4 % |
8,565,000 |
17.2 % |
7,309,000 |
-57.7 % |
17,280,000 |
-34.5 % |
26,384,000 |
|
TOTAL CURRENT LIABILITIES |
24,357,000 |
134.8 % |
10,372,000 |
0.3 % |
10,345,000 |
-50.1 % |
20,739,000 |
-30.6 % |
29,900,000 |
|
Long Term Liabilities to Financial Institutions |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Other Long Term Loans |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Long Term Pension Commitments |
1,214,000 |
-4.4 % |
1,270,000 |
-4.2 % |
1,325,000 |
-4.0 % |
1,380,000 |
-3.8 % |
1,435,000 |
|
Other Long Term Liabilities |
27,314,000 |
-2.8 % |
28,095,000 |
12.1 % |
25,053,000 |
12.5 % |
22,278,000 |
71.4 % |
13,000,000 |
|
TOTAL LONG TERM LIABILITIES |
28,528,000 |
-2.9 % |
29,365,000 |
11.3 % |
26,378,000 |
11.5 % |
23,658,000 |
63.9 % |
14,435,000 |
|
TOTAL LIABILITIES |
52,885,000 |
33.1 % |
39,737,000 |
8.2 % |
36,723,000 |
-17.3 % |
44,397,000 |
0.1 % |
44,336,000 |
|
Share Capital |
2,500,000 |
0.0 % |
2,500,000 |
0.0 % |
2,500,000 |
0.0 % |
2,500,000 |
0.0 % |
2,500,000 |
|
Share Premium Reserve |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Revaluation Fund |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Total Retained Earnings |
47,684,000 |
28.6 % |
37,067,000 |
31.0 % |
28,297,000 |
-19.0 % |
34,940,000 |
26.3 % |
27,654,000 |
|
Other Reserves |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
TOTAL EQUITY |
50,184,000 |
26.8 % |
39,567,000 |
28.5 % |
30,797,000 |
-17.7 % |
37,440,000 |
24.2 % |
30,154,000 |
Other Financials
|
Financial Year |
2011 |
|
2010 |
|
2009 |
|
2008 |
|
2007 |
|
Total Exports |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Working Capital |
26,231,000 |
-27.2 % |
36,013,000 |
41.8 % |
25,391,000 |
-16.9 % |
30,552,000 |
3,947.9 % |
-794,000 |
|
Net Worth |
48,718,000 |
28.1 % |
38,036,000 |
33.3 % |
28,541,000 |
-20.6 % |
35,934,000 |
23.9 % |
29,011,000 |
|
Capital Employed |
78,712,000 |
14.2 % |
68,932,000 |
20.6 % |
57,175,000 |
-6.4 % |
61,098,000 |
37.0 % |
44,589,000 |
|
Financial Year |
2011 |
2010 |
2009 |
2008 |
2007 |
|
Pre-Tax Profit Margin |
14.22 |
13.07 |
-0.27 |
13.24 |
12.10 |
|
Return on Capital Employed |
26.11 |
25.93 |
-0.65 |
27.14 |
26.25 |
|
Return on Total Assets Employed |
19.94 |
22.54 |
-0.55 |
20.27 |
15.71 |
|
Return on Net Assets Employed |
40.95 |
45.18 |
-1.20 |
44.30 |
38.81 |
|
Sales/Net Working Capital |
5.51 |
3.80 |
5.41 |
4.10 |
-121.82 |
|
Stock Turnover Ratio |
12.07 |
7.93 |
9.19 |
13.79 |
11.30 |
|
Debtor Days |
49.63 |
10.99 |
26.47 |
30.52 |
12.62 |
|
Creditor Days |
9.09 |
4.82 |
8.06 |
10.08 |
13.27 |
|
Current Ratio |
2.08 |
4.47 |
3.45 |
2.47 |
0.97 |
|
Liquidity Ratio/Acid Test |
1.36 |
3.43 |
2.23 |
1.64 |
0.61 |
|
Current Debt Ratio |
0.49 |
0.26 |
0.34 |
0.55 |
0.99 |
|
Solvency Ratio |
48.69 |
49.89 |
45.61 |
45.75 |
40.48 |
|
Equity in Percentage |
91.98 |
78.10 |
76.39 |
67.24 |
88.82 |
|
Total Debt Ratio |
1.05 |
1.00 |
1.19 |
1.19 |
1.47 |
Industry
|
Main Industry
Code & Description |
Wholesale of clothing |
|
Secondary
Industry Code & Description |
- |
|
Other Industry
Code & Description |
- |
Other Company
Officials
No data exist
Event History
|
Date |
Description |
|
03/09/2012 |
Rating Change |
|
31/08/2012 |
Limit Change |
|
31/08/2012 |
Rating Change |
|
29/08/2012 |
APPROVED END OF YEAR REPORT AND ACCOUNTS |
|
12/05/2012 |
CHANGE OF BOARD OF DIRECTORS |
|
23/11/2011 |
Limit Change |
|
23/11/2011 |
Rating Change |
|
29/08/2011 |
APPROVED END OF YEAR REPORT AND ACCOUNTS |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.20 |
|
UK Pound |
1 |
Rs.86.99 |
|
Euro |
1 |
Rs.70.22 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.