MIRA
INFORM REPORT
|
Report Date : |
29.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
INDISKA MAGASINET AKTIEBOLAG |
|
|
|
|
Registered Office : |
Box 27317, 10254 Stockholm |
|
|
|
|
Country : |
Sweden |
|
|
|
|
Date of Incorporation : |
19.11.1908 |
|
|
|
|
Com. Reg. No.: |
5560085424 |
|
|
|
|
Legal Form : |
Limited liability company |
|
|
|
|
Line of Business : |
The Company's operations shall be, directly or through wholly or
partly owned companies operate retail sales, import and export of clothing
products, textiles, husgeråds and gift items, jewelry, food, healthcare,
skincare and massage products. |
|
|
|
|
No. of Employees : |
388 |
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 : |
Slow but 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, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Sweden |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
SWEDEN - ECONOMIC OVERVIEW
Aided by peace and neutrality for the whole of the 20th century, Sweden has achieved an enviable standard of living under a mixed system of high-tech capitalism and extensive welfare benefits. It has a modern distribution system, excellent internal and external communications, and a highly skilled labor force. In September 2003, Swedish voters turned down entry into the euro system concerned about the impact on the economy and sovereignty. Timber, hydropower, and iron ore constitute the resource base of an economy heavily oriented toward foreign trade. Privately owned firms account for vast majority of industrial output, of which the engineering sector accounts for about 50% of output and exports. Agriculture accounts for little more than 1% of GDP and of employment. Until 2008, Sweden was in the midst of a sustained economic upswing, boosted by increased domestic demand and strong exports. This and robust finances offered the center-right government considerable scope to implement its reform program aimed at increasing employment, reducing welfare dependence, and streamlining the state's role in the economy. Despite strong finances and underlying fundamentals, the Swedish economy slid into recession in the third quarter of 2008 and the contraction continued in 2009 as deteriorating global conditions reduced export demand and consumption. Strong exports of commodities and a return to profitability by Sweden's banking sector drove the strong rebound in 2010, which continued in 2011, but growth slipped to 1.2% in 2012. The government proposed stimulus measures in 2012 to curb the effects of a global economic slowdown and boost employment and growth
|
Source : CIA |
REGISTERED NAME & COMPANY SUMMARY
Company Summary
|
Business
Name |
Indiska Magasinet Aktiebolag |
|
Country |
SWEDEN |
|
Company
Registration Number |
5560085424 |
|
Main
Activity |
Retail sale of women''s
clothing in specialised stores |
|
Activity
Code |
47713 |
|
Company
Status |
Active |
|
Latest
Turnover Figure |
586.889.000 |
|
Latest Shareholder Equity
Figure |
90.072.000 |
Basic
Information
|
Business Name |
Indiska Magasinet Aktiebolag |
|
Registered Company Name |
Indiska Magasinet Aktiebolag |
|
Company
Registration Number |
5560085424 |
|
Country |
SWEDEN |
|
VAT
Registration Number |
SE556008542401 |
|
Date
of Company Registration |
19/11/1908 |
|
Legal
Form |
Limited liability company |
|
Company
Status |
Active |
|
Currency
of this Report |
SEK |
|
Principal
Activity Description |
Bolagets verksamhet skall vara
att, direkt eller genom hel- eller delägda bolag bedriva detaljandel samt
import och export av konfektionsvaror, textiler, husgeråds- och
presentartiklar, bijouterier, livsmedel, hälsovårds- hudvårds- och
massageprodukter, till (The Company's operations shall be, directly or
through wholly or partly owned companies operate retail sales, import and
export of clothing products, textiles, husgeråds and gift items, jewelry,
food, healthcare, skincare and massage products,) |
|
Contact
Address |
Box 27317, 10254 STOCKHOLM |
|
Contact
Telephone Number |
08-6704500 |
Activities
|
Activity Code |
Activity Description |
|
47713 |
Retail sale of women''s
clothing in specialised stores |
|
47532 |
Retail sale of home furnishing
textiles in specialised stores |
|
47593 |
Retail sale of glassware, china
and kitchenware in specialised stores |
|
Main Address |
||
|
Address |
Country |
Telephone |
|
Box 27317, 10254 STOCKHOLM |
SWEDEN |
08-6704500 |
|
Other Address |
|
|
Address |
Country |
|
Frykmans Väg 1, 65346 |
SWEDEN |
|
Elektravägen 22, 12630 |
SWEDEN |
|
Annetorpsvägen 2A, 21623 |
SWEDEN |
|
Långholmsgatan 25A, 11733 |
SWEDEN |
|
Arenavägen 55, 12177 |
SWEDEN |
|
Malmvägen 1-3, 11541 |
SWEDEN |
|
Adelsgatan 7, 62157 |
SWEDEN |
|
Borgmästaregatan 5, 43432 |
SWEDEN |
|
Bredholmsgatan 8, 12748 |
SWEDEN |
|
Drottninggatan 18, 65225 |
SWEDEN |
|
Farstaplan 25, 12347 |
SWEDEN |
|
Forum, 13140 |
SWEDEN |
|
Gesällvägen 1, 85753 |
SWEDEN |
|
Götgatan 98, 11862 |
SWEDEN |
|
Kista Torg 6, 16442 |
SWEDEN |
|
Kungsgatan 37, 41115 |
SWEDEN |
|
Kupolen 93, 78170 |
SWEDEN |
|
Köpmansgatan 4, 30242 |
SWEDEN |
|
Ladugårdsvägen 14, 46170 |
SWEDEN |
|
Medborgarplatsen 3, 11826 |
SWEDEN |
|
Nils Henrikssons Väg 3, 43335 |
SWEDEN |
|
Nordby Köpcentrum Västra, 45270 |
SWEDEN |
|
Norra Kansligatan 8, 80320 |
SWEDEN |
|
Nygatan 51-53, 93131 |
SWEDEN |
|
Odengatan 79, 11322 |
SWEDEN |
|
Postgatan 26-32, 41106 |
SWEDEN |
|
Prästgatan 26, 83131 |
SWEDEN |
|
Renmarkstorget 7, 90326 |
SWEDEN |
|
Repslagaregatan 12, 60232 |
SWEDEN |
|
Sankt Eriksgatan 45, 11234 |
SWEDEN |
|
Slöjdgatan 11, 11157 |
SWEDEN |
|
Stora Södergatan 5, 22223 |
SWEDEN |
|
Storgatan 14, 54130 |
SWEDEN |
|
Storgatan 21, 85230 |
SWEDEN |
|
Storgatan 51, 97231 |
SWEDEN |
|
Svartbäcksgatan 3, 75320 |
SWEDEN |
|
Södergatan 26, 21134 |
SWEDEN |
|
Tanneforsgatan 3, 58224 |
SWEDEN |
|
Vällingby Torg 36, 16265 |
SWEDEN |
|
Västerlånggatan 50, 11129 |
SWEDEN |
|
Västra Tullgatan 6, 82430 |
SWEDEN |
|
Drottninggatan 53, 11121 |
SWEDEN |
|
Hamngatan 10-14, 11147 |
SWEDEN |
|
Borgmästaregatan 13, 37135 |
SWEDEN |
|
Drottninggatan 32, 70210 |
SWEDEN |
|
Döbelnsgatan 10, 29131 |
SWEDEN |
|
Frölunda Torg 44, 42142 |
SWEDEN |
|
Företagsvägen 10, 22761 |
SWEDEN |
|
Holmgatan 26, 79171 |
SWEDEN |
|
Kaggensgatan 28, 39232 |
SWEDEN |
|
Karlaplan 15, 11520 |
SWEDEN |
|
Kungsgatan 29, 63220 |
SWEDEN |
|
Liljeholmstorget 5, 11763 |
SWEDEN |
|
Lilla Brogatan 18, 50335 |
SWEDEN |
|
Marknadsgatan 1, 75460 |
SWEDEN |
|
Nybrogatan 27, 11439 |
SWEDEN |
|
Storgatan 15, 35230 |
SWEDEN |
|
Storgatan 24, 89133 |
SWEDEN |
|
Storgatan 3-5, 15171 |
SWEDEN |
|
Säljarevägen 1, 70236 |
SWEDEN |
|
Torp 48, 45176 |
SWEDEN |
|
Uddmansgatan 5, 94132 |
SWEDEN |
|
Vasagatan 15, 72215 |
SWEDEN |
|
Väla Centrum, 26036 |
SWEDEN |
|
Västantorget 159, 18334 |
SWEDEN |
|
Västra Storgatan 7, 61131 |
SWEDEN |
|
Älverudsvägen 1, 67010 |
SWEDEN |
|
Östra Storgatan 16-18, 55321 |
SWEDEN |
|
Per Albin Hanssons Väg 40,
21432 |
SWEDEN |
|
Email Addresses |
|
info@indiska.se |
|
Web Pages |
|
www.indiska.se |
DIRECTORS/MANAGEMENT
|
Current Directors |
||||||
|
Name |
Appointment Date |
Position |
|
|||
|
Anders Göran Thambert |
17/08/2006 |
Chairman of Board |
|
|||
|
Barbro Christina Baines |
15/09/1997 |
Executive Vice President |
|
|||
|
Anders Patrik Tillman |
31/10/2003 |
Actual Member of Board |
|
|||
|
Eva Anita Anna Regina
Strandberg Alpsjö |
16/02/2010 |
Actual Member of Board |
|
|||
|
Satish Sen |
16/02/2010 |
Actual Member of Board |
|
|||
|
Previous Directors |
||||||
|
Name |
Appointment Date |
Position |
Resignation Date |
|||
|
Sören Ive Holger Rung |
|
Actual Member of Board |
|
|||
|
Sofie Maria Gunolf |
17/08/2006 |
Actual Member of Board |
|
|||
|
Anna Åsa Margareta Myrdal Bratt |
12/10/2006 |
Actual Member of Board |
|
|||
NEGATIVE INFORMATION
No negative information found.
SHARE & SHARE CAPITAL
INFORMATION
|
Issued Share Capital |
6.300.000 |
PAYMENT INFORMATION
|
Debt
balance at the Swedish Enforcement Agency |
||
|
Number
of Private Claims |
- |
|
|
Balance
of Private Claims |
- |
|
|
Number
of Public Claims |
- |
|
|
Balance
of Public Claims |
- |
|
|
Total
Balance |
- |
|
|
Record
of non-payment |
||
|
Number
of distraint attempts and repossessions |
- |
|
|
Number
of public claims |
- |
|
|
Number
of private claims |
- |
|
|
Number
of applications for an order to pay |
- |
|
|
Number
of reclaimed/revoked applications |
4 |
|
GROUP STRUCTURE & AFFILIATED
COMPANIES
|
Extended Group Structure |
||||
|
Company Name |
Country |
Number |
Safe
Number |
Latest
Annual Accounts |
|
SE |
5568100225 |
SE01201387 |
31/08/2012 |
|
|
SE |
5566324629 |
SE01026017 |
31/08/2012 |
|
|
SE |
5566813639 |
SE01072826 |
31/08/2012 |
|
|
SE |
5563001725 |
SE00724242 |
31/08/2012 |
|
|
SE |
5560085424 |
SE00556849 |
31/08/2012 |
|
|
|
IN |
|
WXSE07981796 |
|
|
NO |
987375507 |
NO00868750 |
31/08/2012 |
|
|
FI |
17001376 |
FI00939939 |
31/08/2011 |
|
|
|
IN |
|
WXSE00161704 |
|
|
SE |
9165593550 |
|
|
|
0FINANCIAL INFORMATION
|
Profit and
Loss |
|||
|
Financial
Year |
2012 |
2011 |
2010 |
|
Number
of Weeks |
52 |
52 |
52 |
|
Currency |
SEK |
SEK |
SEK |
|
Conslotidated
Accounts |
N |
N |
N |
|
Revenue |
588.197.000 |
663.970.000 |
688.251.000 |
|
Operating
Costs |
626.216.000 |
666.027.000 |
643.292.000 |
|
Operating
Profit |
-38.019.000 |
-2.057.000 |
44.959.000 |
|
Wages
& Salaries |
-180.512.000 |
-187.456.000 |
-175.190.000 |
|
Depreciation |
-10.532.000 |
-9.687.000 |
-6.534.000 |
|
Financial
Income |
441.000 |
1.751.000 |
280.000 |
|
Financial
Expenses |
-749.000 |
-35.000 |
-382.000 |
|
Extraordinary
Income |
- |
- |
- |
|
Extraordinary
Costs |
-749.000 |
-35.000 |
-382.000 |
|
Profit
before Tax |
-47.723.000 |
-968.000 |
59.538.000 |
|
Tax |
9.020.000 |
-1.078.000 |
-9.596.000 |
|
Profit
after Tax |
-47.723.000 |
-968.000 |
59.538.000 |
|
Minority
Interests |
- |
- |
- |
|
Other
Appropriations |
20.715.000 |
3.436.000 |
-9.320.000 |
|
Retained
Profit |
-17.988.000 |
1.390.000 |
40.622.000 |
|
Balance
Sheet |
|||
|
Financial
Year |
2012 |
2011 |
2010 |
|
Number
of Weeks |
52 |
52 |
52 |
|
Currency |
SEK |
SEK |
SEK |
|
Consolidated
Accounts |
N |
N |
N |
|
Land
& Buildings |
0 |
0 |
0 |
|
Plant
& Machinery |
0 |
0 |
0 |
|
Other
Tangible Assets |
14.508.000 |
13.664.000 |
12.397.000 |
|
Total
Tangible Assets |
14.508.000 |
13.664.000 |
12.397.000 |
|
Goodwill |
0 |
0 |
0 |
|
Other
Intangible Assets |
20.556.000 |
17.093.000 |
19.922.000 |
|
Total
Intangible Assets |
20.556.000 |
17.093.000 |
19.922.000 |
|
Loans
To Group |
0 |
0 |
0 |
|
Other
Loans |
0 |
0 |
0 |
|
Miscellaneous
Fixed Assets |
8.074.000 |
211.000 |
200.000 |
|
Total
Other Fixed Assets |
8.074.000 |
211.000 |
200.000 |
|
TOTAL
FIXED ASSETS |
43.138.000 |
30.968.000 |
32.519.000 |
|
Work
In Progress |
0 |
0 |
0 |
|
Other
Inventories |
70.850.000 |
78.179.000 |
80.423.000 |
|
Total
Inventories |
70.850.000 |
78.179.000 |
80.423.000 |
|
Trade
Receivables |
308.000 |
779.000 |
261.000 |
|
Group
Receivables |
20.448.000 |
28.783.000 |
43.998.000 |
|
Miscellaneous
Receivables |
29.327.000 |
18.319.000 |
13.320.000 |
|
Total
Receivables |
50.083.000 |
47.881.000 |
57.579.000 |
|
Cash |
40.931.000 |
51.849.000 |
78.541.000 |
|
Other
Current Assets |
3.315.000 |
3.315.000 |
38.454.000 |
|
TOTAL
CURRENT ASSETS |
165.179.000 |
181.224.000 |
254.997.000 |
|
TOTAL
ASSETS |
208.317.000 |
212.192.000 |
287.516.000 |
|
Trade
Payables |
45.780.000 |
33.739.000 |
18.975.000 |
|
Bank
Liabilities |
0 |
0 |
0 |
|
Group
Payables |
13.206.000 |
270.000 |
242.000 |
|
Miscellaneous
Liabilities |
53.588.000 |
51.952.000 |
71.982.000 |
|
TOTAL
CURRENT LIABILITIES |
112.574.000 |
85.961.000 |
91.199.000 |
|
Bank
Liabilities Due After 1 Year |
0 |
0 |
0 |
|
Other
Loans Or Finance Due After 1 Year |
0 |
0 |
0 |
|
Group
Payables After 1 Year |
0 |
0 |
0 |
|
Miscellaneous
Liabilities Due After 1 Year |
5.671.000 |
18.171.000 |
21.607.000 |
|
TOTAL
LONG TERM LIABILITIES |
5.671.000 |
18.171.000 |
21.607.000 |
|
TOTAL
LIABILITIES |
118.245.000 |
104.132.000 |
112.806.000 |
|
Called
Up Share Capital |
6.300.000 |
6.300.000 |
6.300.000 |
|
Share
Premium |
0 |
0 |
0 |
|
Revenue
Reserves |
82.512.000 |
100.500.000 |
167.150.000 |
|
Other
Reserves |
1.260.000 |
1.260.000 |
1.260.000 |
|
TOTAL
SHAREHOLDERS EQUITY |
90.072.000 |
108.060.000 |
174.710.000 |
|
Other Financials |
|||
|
Contingent
Liabilities |
89.355.000 |
102.857.000 |
139.970.000 |
|
Working
Capital |
52.605.000 |
95.263.000 |
163.798.000 |
|
Net
Worth |
69.516.000 |
90.967.000 |
154.788.000 |
|
Ratios |
|||
|
Pre-Tax
Profit Margin |
-8.11 % |
-0.15 % |
8.65 % |
|
Return
On Capital Employed |
-14.87 % |
-0.32 % |
15.72 % |
|
Return
On Total Assets Employed |
-22.91 % |
-0.46 % |
20.71 % |
|
Return
On Net Assets Employed |
-52.98 % |
-0.90 % |
34.08 % |
|
Sales/Net
Working Capital |
11.18 |
6.97 |
4.20 |
|
Stock
Turnover Ratio |
12.05 % |
11.77 % |
11.69 % |
|
Debtor
Days |
0.19 |
0.43 |
0.14 |
|
Creditor
Days |
28.41 |
18.55 |
10.06 |
|
Current
Ratio |
1.47 |
2.11 |
2.80 |
|
Liquidity
Ratio/Acid Test |
0.84 |
1.20 |
1.91 |
|
Current
Debt Ratio |
1.25 |
0.80 |
0.52 |
|
Gearing |
|
|
|
|
Equity
In Percentage |
50.13 % |
55.45 % |
65.34 % |
|
Total Debt Ratio |
1.31 |
0.96 |
0.65 |
FOREIGN EXCHANGE RATES
Na
ADDITIONAL INFORMATION
|
Employee Information |
|
|
Year |
Number of Employees |
|
2012 |
388 |
|
2011 |
415 |
|
2010 |
404 |
|
2009 |
401 |
|
2008 |
413 |
|
Advisors |
|
|
Auditor
Name |
Ernst
& Young Aktiebolag |
|
Tax
Registrations |
|
|
Registered
for FTax |
Yes |
|
Registered
for VAT |
Yes |
|
Registered
for Employee Tax |
Yes |
|
Certificates |
||
|
Type |
Category |
Issuer |
|
No certificate information for
this company. |
|
|
|
Industry Comparison |
|
|
Activity
Code |
47713 |
|
Activity
Description |
Retail
sale of women''s clothing in specialised stores |
|
Industry
Average Credit Rating |
68
(1 - 100) |
|
Industry
Average Credit Limit |
17.000
|
|
Event History |
|
|
Event Date |
Event Description |
|
24/04/2013 |
Annual report (PDF), new |
|
23/04/2013 |
Annual report (PDF), new |
|
06/02/2013 |
Annual report (PDF), new |
|
05/02/2013 |
Group annual accout, new |
|
05/02/2013 |
Annual account, new |
|
02/03/2012 |
Annual account, new |
|
02/03/2012 |
Group annual accout, new |
|
23/02/2012 |
Annual report (PDF), new |
|
15/02/2011 |
Board, changed |
|
15/02/2011 |
Company representatives,
changed |
|
15/02/2011 |
Authorised signatories amended
or new/amended vacancy text |
|
29/01/2011 |
Company representatives,
changed |
|
29/01/2011 |
Board, changed |
|
29/01/2011 |
Authorised signatories amended
or new/amended vacancy text |
|
13/01/2011 |
Authorised signatories amended
or new/amended vacancy text |
|
13/01/2011 |
Board, changed |
|
13/01/2011 |
Company representatives,
changed |
|
13/01/2011 |
Company business activity,
changed |
|
05/01/2011 |
Group annual accout, new |
|
05/01/2011 |
Annual account, new |
|
24/12/2010 |
Annual report (PDF), new |
|
17/02/2010 |
Company representatives,
changed |
|
17/02/2010 |
Authorised signatory, changed |
|
17/02/2010 |
Limit, increase |
|
17/02/2010 |
Board, changed |
|
05/01/2010 |
Annual account, new |
|
22/12/2009 |
Annual report (PDF), new |
|
17/12/2009 |
Limit, decrease |
|
17/12/2009 |
Authorised signatory, changed |
|
17/12/2009 |
Board, changed |
|
17/12/2009 |
Company representatives,
changed |
|
15/05/2009 |
Annual account, new |
|
07/05/2009 |
Annual report (PDF), new |
|
30/01/2009 |
Annual account, new |
|
12/01/2009 |
Annual report (PDF), new |
NOTES & COMMENTS
Na
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.39 |
|
|
1 |
Rs.101.80 |
|
Euro |
1 |
Rs.84.75 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIS |
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.