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Report Date : |
28.06.2013 |
IDENTIFICATION DETAILS
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Name : |
RESOLUX APS |
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Registered Office : |
Tja¸rnevej 6 Orbaek, 5853 |
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Country : |
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Financials (as on) : |
31.12.2012 |
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Year of Incorporation : |
2003 |
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Com. Reg. No.: |
27180663 |
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Legal Form : |
Private Independent |
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Line of Business : |
Subject engaged in manufacturing current-carrying wiring devices |
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No. of Employees : |
41 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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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, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Denmark |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
DENMARK - ECONOMIC
OVERVIEW
This thoroughly modern market economy features a high-tech
agricultural sector, state-of-the-art industry with world-leading firms in pharmaceuticals,
maritime shipping and renewable energy, and a high dependence on foreign trade.
Denmark is a member of the European Union (EU); Danish legislation and
regulations conform to EU standards on almost all issues. Danes enjoy a high
standard of living and the Danish economy is characterized by extensive
government welfare measures and an equitable distribution of income. Denmark is
a net exporter of food and energy and enjoys a comfortable balance of payments
surplus but depends on imports of raw materials for the manufacturing sector.
Within the EU, Denmark is among the strongest supporters of trade
liberalization. After a long consumption-driven upswing, Denmark's economy
began slowing in 2007 with the end of a housing boom. Housing prices dropped
markedly in 2008-09 and, following a short respite in 2010, has since continued
to decline. The global financial crisis has exacerbated this cyclical slowdown
through increased borrowing costs and lower export demand, consumer confidence,
and investment. The global financial crisis cut Danish real GDP in 2008-09.
Denmark made a modest recovery in 2010 with real GDP growth of 1.3%, in part
because of increased government spending; however, the country experienced a
technical recession in late 2010-early 2011. Historically low levels of
unemployment rose sharply with the recession and have remained at about 6% in
2010-12, based on the national measure, about two-thirds average EU
unemployment. An impending decline in the ratio of workers to retirees will be
a major long-term issue. Denmark maintained a healthy budget surplus for many
years up to 2008, but the budget balance swung into deficit in 2009. In spite
of the deficits, the new coalition government delivered a modest stimulus to
the economy in 2012. Nonetheless, Denmark's fiscal position remains among the
strongest in the EU with public debt at about 45% of GDP in 2012. Despite
previously meeting the criteria to join the European Economic and Monetary
Union (EMU), so far Denmark has decided not to join, although the Danish krone remains pegged to the euro. Denmark held the EU
presidency during the first half of 2012; priorities included promoting a
responsible, dynamic, green, and safe Europe, while working to steer Europe out
of its euro zone economic crisis
Source
: CIA
Resolux ApS
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Business
Description
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Resolux ApS is
primarily engaged in manufacturing current-carrying wiring devices. |
Industry
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Industry |
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ANZSIC 2006: |
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NACE 2002: |
3120 - Manufacture of electricity distribution and
control apparatus |
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NAICS 2002: |
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UK SIC 2003: |
3120 - Manufacture of electricity distribution and
control apparatus |
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UK SIC 2007: |
2712 - Manufacture of electricity distribution and
control apparatus |
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US SIC 1987: |
Key Executives
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1 - Profit &
Loss Item Exchange Rate: USD 1 = DKK 5.793028
2 - Balance Sheet Item Exchange Rate: USD 1 = DKK 5.6443
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Executives
Report
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31-Dec-2012 |
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Period Length |
12 Months |
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Filed Currency |
DKK |
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Exchange Rate
(Period Average) |
5.793028 |
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Consolidated |
Yes |
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Gross Profit |
4.9 |
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Operating Income |
1.4 |
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Net Income |
0.8 |
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Annual Balance
Sheet |
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Financials in:
USD (mil) |
|
|
31-Dec-2012 |
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Filed Currency |
DKK |
|
Exchange Rate |
5.6443 |
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Consolidated |
Yes |
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Total Assets |
7.2 |
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Total Equity |
2.0 |
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Annual Ratios |
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|
31-Dec-2012 |
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Period Length |
12 Months |
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Filed Currency |
- |
|
Exchange Rate |
- |
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Consolidated |
Yes |
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Current Ratio |
133.57 |
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Total debt/total equity |
28.30 |
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Return on average equity |
38.74 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.70 |
|
|
1 |
Rs.92.25 |
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Euro |
1 |
Rs.78.38 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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 |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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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.