|
Report Date : |
19.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
RÃYKEN GRANITT AS |
|
|
|
|
Registered Office : |
Gamle Drammensvei 91-95, Lierskogen
3420 |
|
|
|
|
Country : |
Norway |
|
|
|
|
Financials (as on) : |
2013 |
|
|
|
|
Date of Incorporation : |
12.03.1995 |
|
|
|
|
Com. Reg. No.: |
964037191 |
|
|
|
|
Legal Form : |
Limited company |
|
|
|
|
Line of Business : |
Quarrying of ornamental and building stone |
|
|
|
|
No. of Employees |
3 |
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, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Norway |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
NORWAY - ECONOMIC OVERVIEW
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 30% of government revenue. Norway is the world's
third-largest natural gas exporter; and seventh largest oil exporter, making
one of its largest offshore oil finds in 2011. Norway opted to stay out of the
EU during a referendum in November 1994; nonetheless, as a member of the
European Economic Area, it contributes sizably to the EU budget. In
anticipation of eventual declines in oil and gas production, Norway saves state
revenue from the petroleum sector in the world's largest sovereign wealth fund,
valued at over $830 billion in January 2014 and uses the fund's return to help
finance public expenses. After solid GDP growth in 2004-07, the economy slowed
in 2008, and contracted in 2009, before returning to positive growth in 2010-13.
Nevertheless, the government budget remains in surplus
|
Source
: CIA |
|
Company name |
RØYKEN
GRANITT AS |
Company number |
964037191 |
|
Address |
Gamle Drammensvei
91-95 |
|
|
|
City |
LIERSKOGEN 3420 |
Legal form |
Limited company |
|
Website address |
E-mail address |
- |
|
|
Telephone Number |
00 47 32854140 |
Fax Number |
00 47 32854139 |
|
Registration date |
12/03/1995 |
Status |
Active |
|
Previous Name |
GRORUD GRANITT AS |
Share capital |
1,000,000 |
|
Name change date |
01/07/1992 |
Currency |
- |
|
Postal Address |
No data exist |
Number of employees |
3 |
|
Name |
Address |
Function |
|
Solheim
KRØDEREN 3535 |
General
manager/CEO |
|
|
Vestre
Onstadvei 10 LIERSKOGEN 3420 |
Deputy board
member/substitute |
|
|
Vestre
Onstadvei 10 LIERSKOGEN 3420 |
Chairman of the board |
|
|
Solheim KRØDEREN 3535 |
Board member(s) |
No Negative Information Found.
|
Shareholder Name |
Number of Shares |
Percentage Share |
|
ROGER IVAR HJELLET |
500 |
50.0 |
|
SJP HOLDING AS |
500 |
50.0 |
N/a
Ultimate Holding Company
|
Safe Number |
Company Name |
Company Number |
Key Financials
|
Year to Date |
Sales Revenue |
Profit Before Tax |
Total Equity |
|
2013 |
11,762,000 |
1,220,000 |
7,487,000 |
|
2012 |
13,522,000 |
965,000 |
6,616,000 |
|
2010 |
12,198,000 |
1,000,000 |
4,594,000 |
|
2009 |
11,164,000 |
687,000 |
3,898,000 |
|
2008 |
13,567,000 |
1,114,000 |
3,422,000 |
Profit & Loss Account
|
Financial Year |
2013 |
|
2012 |
|
2010 |
|
2009 |
|
2008 |
|
Currency |
NOK |
|
NOK |
|
NOK |
|
NOK |
|
NOK |
|
Consolidated Accounts |
No |
|
No |
|
No |
|
No |
|
No |
|
Complete Accounts |
Yes |
|
Yes |
|
Yes |
|
Yes |
|
Yes |
|
Sales Revenue |
11,762,000 |
-13.0 % |
13,522,000 |
10.9 % |
12,198,000 |
9.3 % |
11,164,000 |
-17.7 % |
13,567,000 |
|
Other operating income |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Total Operating Income |
11,762,000 |
-13.0 % |
13,522,000 |
10.9 % |
12,198,000 |
9.3 % |
11,164,000 |
-17.7 % |
13,567,000 |
|
Total Operating Expenses |
10,591,000 |
-16.2 % |
12,639,000 |
12.9 % |
11,194,000 |
7.2 % |
10,443,000 |
-15.9 % |
12,413,000 |
|
Operating Profit |
1,171,000 |
32.6 % |
883,000 |
-12.1 % |
1,004,000 |
39.4 % |
720,000 |
-37.7 % |
1,155,000 |
|
Wages & Salaries |
1,447,000 |
1.2 % |
1,430,000 |
7.8 % |
1,327,000 |
5.7 % |
1,255,000 |
12.1 % |
1,120,000 |
|
Depreciation |
314,000 |
5.7 % |
297,000 |
-12.4 % |
339,000 |
-17.3 % |
410,000 |
-27.7 % |
567,000 |
|
Financial Income |
69,000 |
-22.5 % |
89,000 |
1,171.4 % |
7,000 |
16.7 % |
6,000 |
-73.9 % |
23,000 |
|
Financial Expenses |
20,000 |
150.0 % |
8,000 |
-33.3 % |
12,000 |
-69.2 % |
39,000 |
-39.1 % |
64,000 |
|
Profit Before Tax |
1,220,000 |
26.4 % |
965,000 |
-3.5 % |
1,000,000 |
45.6 % |
687,000 |
-38.3 % |
1,114,000 |
|
Tax |
-349,000 |
-37.9 % |
-253,000 |
16.8 % |
-304,000 |
-44.8 % |
-210,000 |
46.0 % |
-389,000 |
|
Profit After Tax |
871,000 |
22.3 % |
712,000 |
2.3 % |
696,000 |
45.9 % |
477,000 |
-34.2 % |
725,000 |
|
Extraordinary Result |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Dividends |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Net Result after Dividends |
871,000 |
22.3 % |
712,000 |
2.3 % |
696,000 |
45.9 % |
477,000 |
-34.2 % |
725,000 |
Balance Sheet
|
Financial Year |
2013 |
|
2012 |
|
2010 |
|
2009 |
|
2008 |
|
Currency |
NOK |
|
NOK |
|
NOK |
|
NOK |
|
NOK |
|
Consolidated Accounts |
No |
|
No |
|
No |
|
No |
|
No |
|
Complete Accounts |
Yes |
|
Yes |
|
Yes |
|
Yes |
|
Yes |
|
Land & Buildings |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Plant & Machinery |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Other Tangible Assets |
785,000 |
-12.6 % |
898,000 |
27.4 % |
705,000 |
13.5 % |
621,000 |
-17.1 % |
749,000 |
|
Total Tangible Assets |
785,000 |
-12.6 % |
898,000 |
27.4 % |
705,000 |
13.5 % |
621,000 |
-17.1 % |
749,000 |
|
Intangible Assets |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Other Fixed Assets |
61,000 |
-71.1 % |
211,000 |
- |
0 |
- |
0 |
- |
0 |
|
TOTAL FIXED ASSETS |
846,000 |
-23.7 % |
1,109,000 |
57.3 % |
705,000 |
13.5 % |
621,000 |
-17.1 % |
749,000 |
|
Inventories |
2,159,000 |
-34.4 % |
3,289,000 |
99.9 % |
1,645,000 |
-9.9 % |
1,826,000 |
13.6 % |
1,607,000 |
|
Trade Receivables |
750,000 |
29.1 % |
581,000 |
2.8 % |
565,000 |
-42.9 % |
990,000 |
28.2 % |
772,000 |
|
Other Receivables |
99,000 |
- |
0 |
- |
0 |
-100.0 % |
7,000 |
- |
0 |
|
Cash & Bank Deposits |
4,467,000 |
70.2 % |
2,625,000 |
2.5 % |
2,561,000 |
76.4 % |
1,452,000 |
-6.0 % |
1,544,000 |
|
Other Current Assets |
1,000 |
- |
0 |
- |
0 |
100.0 % |
-1,000 |
- |
0 |
|
TOTAL CURRENT ASSETS |
7,476,000 |
15.1 % |
6,495,000 |
36.1 % |
4,771,000 |
11.6 % |
4,274,000 |
8.9 % |
3,923,000 |
|
TOTAL ASSETS |
8,322,000 |
9.4 % |
7,605,000 |
38.9 % |
5,477,000 |
11.9 % |
4,895,000 |
4.8 % |
4,672,000 |
|
Trade Creditors |
125,000 |
-55.5 % |
281,000 |
34.4 % |
209,000 |
397.6 % |
42,000 |
-61.1 % |
108,000 |
|
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 |
709,000 |
0.3 % |
707,000 |
4.9 % |
674,000 |
2.9 % |
655,000 |
6.3 % |
616,000 |
|
TOTAL CURRENT LIABILITIES |
834,000 |
-15.6 % |
988,000 |
11.9 % |
883,000 |
26.7 % |
697,000 |
-3.7 % |
724,000 |
|
Long Term Liabilities to
Financial Institutions |
0 |
- |
0 |
- |
0 |
- |
0 |
-100.0 % |
127,000 |
|
Other Long Term Loans |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Long Term Pension Commitments
|
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Other Long Term Liabilities |
0 |
- |
0 |
- |
0 |
-100.0 % |
300,000 |
-25.0 % |
400,000 |
|
TOTAL LONG TERM LIABILITIES |
0 |
- |
0 |
- |
0 |
-100.0 % |
300,000 |
-43.1 % |
527,000 |
|
TOTAL LIABILITIES |
834,000 |
-15.6 % |
988,000 |
11.9 % |
883,000 |
-11.4 % |
997,000 |
-20.2 % |
1,250,000 |
|
Share Capital |
1,000,000 |
0.0 % |
1,000,000 |
0.0 % |
1,000,000 |
0.0 % |
1,000,000 |
0.0 % |
1,000,000 |
|
Share Premium Reserve |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Revaluation Fund |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Total Retained Earnings |
6,487,000 |
15.5 % |
5,616,000 |
56.3 % |
3,594,000 |
24.0 % |
2,898,000 |
19.7 % |
2,422,000 |
|
Other Reserves |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
TOTAL EQUITY |
7,487,000 |
13.2 % |
6,616,000 |
44.0 % |
4,594,000 |
17.9 % |
3,898,000 |
13.9 % |
3,422,000 |
Other Financials
|
Financial Year |
2013 |
|
2012 |
|
2010 |
|
2009 |
|
2008 |
|
Total Exports |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Working Capital |
6,642,000 |
20.6 % |
5,507,000 |
41.6 % |
3,888,000 |
8.7 % |
3,577,000 |
11.8 % |
3,199,000 |
|
Net Worth |
7,487,000 |
13.2 % |
6,616,000 |
44.0 % |
4,594,000 |
17.9 % |
3,898,000 |
13.9 % |
3,422,000 |
|
Capital Employed |
7,487,000 |
13.2 % |
6,616,000 |
44.0 % |
4,594,000 |
9.4 % |
4,198,000 |
6.3 % |
3,949,000 |
Ratios
|
Financial Year |
2013 |
2012 |
2010 |
2009 |
2008 |
|
Pre-Tax Profit Margin |
10.37 |
7.14 |
8.20 |
6.15 |
8.21 |
|
Return on Capital Employed |
16.29 |
14.59 |
21.77 |
16.36 |
28.21 |
|
Return on Total Assets
Employed |
14.66 |
12.69 |
18.26 |
14.03 |
23.84 |
|
Return on Net Assets Employed
|
16.29 |
14.59 |
21.77 |
17.62 |
32.55 |
|
Sales/Net Working Capital |
1.77 |
2.46 |
3.14 |
3.12 |
4.24 |
|
Stock Turnover Ratio |
18.36 |
24.32 |
13.49 |
16.36 |
11.84 |
|
Debtor Days |
23.27 |
15.68 |
16.91 |
32.37 |
20.77 |
|
Creditor Days |
3.88 |
7.59 |
6.25 |
1.37 |
2.91 |
|
Current Ratio |
8.96 |
6.57 |
5.40 |
6.13 |
5.42 |
|
Liquidity Ratio/Acid Test |
6.38 |
3.24 |
3.54 |
3.51 |
3.20 |
|
Current Debt Ratio |
0.11 |
0.15 |
0.19 |
0.18 |
0.21 |
|
Solvency Ratio |
89.97 |
87.00 |
83.88 |
79.63 |
73.24 |
|
Equity in Percentage |
90.63 |
89.49 |
83.89 |
79.63 |
73.24 |
|
Total Debt Ratio |
0.11 |
0.15 |
0.19 |
0.26 |
0.37 |
N/a
Industry
|
Main Industry Code &
Description |
Quarrying of ornamental and
building stone |
|
Secondary Industry Code &
Description |
- |
|
Other Industry Code &
Description |
- |
Other Company Officials: No data exist
N/a
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.58.86 |
|
|
1 |
Rs.98.82 |
|
Euro |
1 |
Rs.80.71 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
PDT |
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.