MIRA INFORM REPORT

 

 

Report Date :

21.10.2014

 

IDENTIFICATION DETAILS

 

Name :

KRKA, D.D., NOVO MESTO

 

 

Registered Office :

Šmarješka Cesta 6, 8000 Novo Mesto

 

 

Country :

Slovenia

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

1954

 

 

Com. Reg. No.:

10009700

 

 

Legal Form :

Joined Stock Company

 

 

Line of Business :

Manufacture of Pharmaceutical Preparations, Products for Medical, Veterinary, Pharmaceutical Raw Materials, Cosmetics, Tourist Services

 

 

No of Employees :

4190

 

 

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 1, 2014

 

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

Slovenia

B1

B1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

SLOVENIA - ECONOMIC OVERVIEW

 

With excellent infrastructure, a well-educated work force, and a strategic location between the Balkans and Western Europe, Slovenia has one of the highest per capita GDPs in Central Europe. Slovenia became the first 2004 European Union entrant to adopt the euro (on 1 January 2007) and has experienced one of the most stable political transitions in Central and Southeastern Europe. In March 2004, Slovenia became the first transition country to graduate from borrower status to donor partner at the World Bank. In 2007, Slovenia was invited to begin the process for joining the OECD; it became a member in 2012. However, long-delayed privatizations, particularly within Slovenia’s largely state-owned and increasingly indebted banking sector, have fueled investor concerns since 2012 that the country would need EU-IMF financial assistance. In 2013, the European Commission granted Slovenia permission to begin recapitalizing ailing lenders and transferring their nonperforming assets into a “bad bank” established to restore bank balance sheets. Yield-seeking bond investors’ strong demand for Slovenian debt helped the government in 2013 to continue to finance itself independently on international markets. The government has embarked on a program of state asset sales intended to bolster investor confidence in the economy, which in 2014 is poised to contract 1%, its third-year of recession.

 

Source : CIA


Company Name & Address

 

KRKA, D.D., NOVO MESTO                 

                                                                               

Šmarješka cesta 6,                     

8000 Novo mesto                                                                                                 

Phone: 07 331 21 11                    

Telefax: 07 332 15 37                  

E-Mail: info@krka.biz                  

Web: www.krka.si

 

Company Summary

 

Legal form        Joined stocked Company                                                         

Established       on  1954 -                                                          

                        19/12/1996 - Joined stocked Company                            

                        last entry on 14.8.2014                                        

                        from 13.7.1989 - p.o.                                           

                        from 19.12.1996 -  Joined stocked Company                      

Registered on   19/12/1996, Novo mesto, Registration number: 10009700          

                                                                                

                         Tax number: SI82646716                                         

                        Company number: 5043611                                        

Registered                                          EUR       54.732.264,71     

capital

 

on 4.8.2014 decrease of capital for EUR 4.393.929,57   

       

Head        Small shareholders                 %                 59,41     shareholders                                                                   

                SDH d.d. (Statistical number:       %                  16,2    

                5727847)                                                       

                MALA ULICA 5, 1000 LJUBLJANA                                   

                KAPITALSKA DRUŽBA, d.d.             %                 10,65    

                (Statistical number: 5986010)                                  

                Dunajska cesta 119, 1000 Ljubljana                             

                SOCIETE GENERALE-SPLITSKA BANKA     %                  4,47    

                D.D. - FIDUCIARNI                                              

                HYPO ALPE-ADRIA-BANK D.D. ZAGREB -  %                  3,09    

                FIDUCIARNI                                                      

                NEW WORLD FUND INC                  %                  1,99    

                KDPW - FIDUCIARNI RAČUN             %                  1,69    

                LUKA KOPER, d.d. (Statistical       %                  1,32    

                number: 5144353)                                               

                Vojkovo nabrežje 38, 6000 Koper -                              

                Capodistria                                                    

                ZAVAROVALNICA TRIGLAV, d.d.         %                  1,18    

                (Statistical number: 5063345)                                  

                Miklošičeva cesta 19, 1000                                     

                Ljubljana                                                      

                stand per 16.10.2014)                                          

Board of        Aleš Rotar                                                     

Directors       Peričeva ulica 29, 1000 Ljubljana                              

                Board member                                                   

                Danica Novak Malnar                                            

                8000 Novo mesto                                                 

                Board member                                                   

                Jože Colarič                                                   

                Lebanova 18, 8000 Novo mesto                                    

                chairman of the board                                          

                Vinko Zupančič                                                 

                Črešnjice 2a, 8222 Otočec                                       

                Board member                                                   

                Zvezdana Bajc                                                  

                Črmošnjice pri Stopičah 16a, 8000 Novo mesto                   

                Board member                                                   

                stand per 20.10.2013                                           

Supervisory     Franc Šašek                                                    

Board           Pristava pri Šentjerneju 6, 8310 Šentjernej                    

                Vice chairman of the board of directors                        

                Jože Lenič                                                     

                Lipova ulica 4, 1230 Domžale                                   

                chairman of the supervisory board                              

                Julijana Kristl                                                

                Omersova ulica 20, 1000 Ljubljana                              

                member of the supervisory board                                

                Mateja Vrečer                                                  

                Potok 5b, 8351 Straža pri Novem mestu                           

                member of the supervisory board                                

                Matjaž Rakovec                                                 

                Stanežiče 32D, 1210 Ljubljana Šentvid                           

                Vice chairman of the board of directors                        

                Mojca Osolnik Videmšek                                         

                Pregljeva ulica 17, 1000 Ljubljana                             

                member of the supervisory board                                

                Sergeja Slapničar                                              

                Begunjska cesta 6c, 4248 Lesce                                 

                member of the supervisory board                                

                Tomaž Sever                                                    

                Ulica bratov Učakar 6, 1000 Ljubljana                          

                member of the supervisory board                                

                Vincenc Manček                                                 

                Cesta brigad 40, 8000 Novo mesto                               

                member of the supervisory board                                

                stand per 20.10.2013                                           

Other          

activities     

General data    company activity:                                              

                manufacture of pharmaceutical preparations,                    

                products for medical, veterinary, pharmaceutical               

                raw materials, cosmetics, tourist services ,...                

                                                                                

                major customers:                                               

                                                                               

                   Kemofarmacija Ljubljana, Salus Ljubljana, Mariborska        

                lekarna, Krka  Farma Zagreb Croatia, Centrala Farmazeutiycna   

                Varšava Poland ,Cerarm Rzeszow Varšava Poland , AO FIX         

                Interlizing Moskva Russia , Schulze Praga Czech Republic       

                                                                               

                sales by region:                                               

                                                                                

                 27% Central Europe 26% Eastern Europe, 24% Western Europe ,   

                14%  South Eastern Europe, 9%  Slovenia                        

                                                                                

                                                                               

                 Headquarters and business-production premises are located on  

                the address above,                                             

                business unit in Ljubljana, Dunajska cesta 65,                 

                production unit in Ljutomer, Ulica Rada Pušenjaka 65 and in    

                Bršljin                                                        

                Main activity:                                                 

                Manufacture of pharmaceutical preparations              (21.20)

                (NACE 2)                                                       

                Export:                                                         

                Croatia                                                        

                Bosnia-                                                        

                Hercegovina                                                     

                Serbia                                                         

                Macedonia                                                      

                Montenegro                                                      

                Romania                                                        

                Bulgaria                                                       

                Poland                                                          

                Hungary                                                        

                Czech Republic                                                 

                Slovakia                                                       

                Russia                                                         

                Ukraine                                                        

                Great-Britain                                                  

                Germany                                                        

                France                                                         

                Italy                                                          

                Sweden                                                          

                Finland                                                        

                Norway                                                         

                Belgium                                                         

                Netherlands                                                    

                                                                               

                Residence address:                                              

                Šmarješka cesta 6, 8000 Novo mesto                             

                Phone:                                                         

                07 331 21 11                                                    

                Telefax:                                                       

                07 332 15 37                                                   

                E-Mail:                                                        

                info@krka.biz                                                  

                Web:                                                           

                www.krka.si                                                    

Employees       2007    4891 employees                                         

                2008    5250 employees                                         

                2009    5260 employees                                         

                2010    4533 employees                                         

                2011    4379 employees                                         

                2012    4495 employees                                         

                2013    4190 employees                                          

                Group Krka per 31.12.2007: 6.777 employees                     

                Group Krka per 31.12.2008: 7.602 employees                     

                Group Krka per 31.12.2009: 7.975 employees                     

                Group Krka per 31.12.2010: 8.569 employees                     

                Group Krka per 31.12.2011: 8.948 employees                     

                Group Krka per 31.12.2012: 9.461 employees                      

                Group Krka per 31.12.2013: 10.048 employees   

                

Annual turnover 2007            Enterprise turnover EUR       723.346.341,-    

                2008            Enterprise turnover EUR       833.567.000,-     

                2009            Enterprise turnover EUR       940.264.046,-    

                2010            Enterprise turnover EUR       960.628.186,-    

                2011            Enterprise turnover EUR       976.473.000,-    

                2012            Enterprise turnover EUR     1.058.441.000,-    

                2013            Enterprise turnover EUR     1.138.121.000,-    

                Group Krka:                                                    

                Annual turnover 2007           EUR     798.273.000,--          

                Net profit 2007                   EUR     132.853.000,--       

                Annual turnover 2008          EUR     961.566.000,--           

                Net profit 2008             EUR     155.891.000,--             

                Annual turnover 2009          EUR   1.056.894.000,--           

                Net profit 2009             EUR     173.685.000,--             

                Annual turnover 2010          EUR 1.029.881.000,--             

                Net profit 2010              EUR       170.918.000,--          

                Annual turnover 2011     EUR    1.083.245.000,--               

                Net profit 2011    EUR     162.735.000,--                      

                Annual turnover 2012        EUR   1.157.245.000,--             

                Net profit 2012         EUR    159.839.000,--                  

                Annual turnover 2013        EUR   1.208.809.000,--              

                Net profit 2013         EUR     172.766.000,--                 

Property        Company's property: Land and buildings                         

                 per 31.12.2013                                                

                SI-8000 Novo mesto                                             

                Book value: 226.134.000,- EUR (Official source)     

          

Remarks         full name of company:                                          

                KRKA, tovarna zdravil, d.d., Novo mesto                        

                                                                               

                participation in capital:                                      

                Terme Krka d.o.o.Novo Mesto(100% share)                        

                Farma GRS, D.O.O. , Novo mesto (99,7%share)                    

                Krka-Farma d.o.o. Zagreb,Croatia n(100% share)                 

                Krka Romania Romania (100% share)                              

                Krka-Farma Dooel Sklopje,Macedonia (100% share)                

                Krka-Polska,Sp.z.o.o.Warshau,Polen(100% share)                 

                OOO Krka-Rus,Istra, Russia (100% share)                        

                OOO Krka Farma,Sergijev Posad,Russia (100% share)              

                TOV KRKA UKRAINA, Kijev, Ukraine (100%share)                   

                TOO KRKA Kazakhstan, Almati, Kasahstan (100% share)            

                Krka ČR,s.r.o.,Praha, Czech Republic (100% share)              

                Krka Pharma Dublin Limited, Dublin,Irland(100% share)          

                Krka Sverige AB, Stockholm, Sweden (100% share)                

                Krka Magyarorszag Kft,Budapest, Hungary (100% share)           

                Krka USA, LLC,Wilmigton, USA(100% share)                       

                KRKA FARMACEUTIKA, Unipessoal Lda., Estoril, Portugal(100%     

                share)                                                         

                KRKA Farmaceutica, S.L., Madrid, Spain (100%share)             

                                                                                

                 KRKA Farmaceutici Milano, S.r.l., unico socio, Milano,        

                Italy(100%share)                                               

                KRKA France, EURL, Pariz, France (100%share)                   

                Krka-farma doo Beograd Serbia(100% share)                      

                Krka-farma d.o.o.Sarajevo BiH(100% share)                      

                Krka Slovensko s.r.o.Slovakia (100% share)                     

                TAD Pharma GmbH Germany (100% share)                           

                KRKA Pharma GmbH, Wien, Austria (100% share)                   

                SIA KRKA Lettland, Riga , Lettland (100%share)                 

                UAB KRKA Lietuva, Vilna,  Litauen (100% share)                 

                KRKA Belgium, SA/NV, Bruselj, Belgium (95% share)              

                Krka Bulgaria EOOD Bulgaria (100% share)                       

                (stand per 31.12.2013)                                          

                representation in                                              

                Albania, Armenia, White Russia , Bulgaria, Bosnia and          

                Herzegovina                                                     

                                                                               

                 Estonia, Georgia, India, Kazakhstan, China,                   

                                                                                

                 Kosovo, Latvia, Moldova,                                      

                                                                               

                 Mongolia, Russia, Serbia, Ukraine, Uzbekistan,                

                                                                               

                 Azerbaijan, ...                                               

Interests       HYPO ALPE-ADRIA-BANK D.D. ZAGREB -FIDUCIARNI:                  

                MERCATOR, d.d. (Statistical         Head shareholders   4,61%  

                number: 5300231)                                               

                TERME DOBRNA d.d. (Statistical      Head shareholders   5,06%  

                number: 5053587)                                               

                ZAVAROVALNICA TRIGLAV, d.d.         Head shareholders   3,67%  

                (Statistical number: 5063345)                                  

                Jože Lenič:                                                     

                ABANKA d.d. (Statistical number:    Board of Directors         

                5026024)                                                       

                KAPITALSKA DRUŽBA, d.d. (Statistical number: 5986010):         

                AERODROM LJUBLJANA, D.D.            Head shareholders   14,44% 

                (Statistical number: 5142768)                                  

                AGROKOMBINAT Maribor d.d.           Head shareholders   9,09%  

                (Statistical number: 5146984)                                  

                ATOMSKE TOPLICE d.d.                Head shareholders   19,98% 

                Bača d.d. Podbrdo (Statistical      Head shareholders   15,31%  

                number: 5034221)                                               

                BEGRAD d.d. NOVO MESTO              Head shareholders   12,7%  

                (Statistical number: 5062381)                                  

                BTC TERMINAL SEŽANA d.d.            Head shareholders   9,9%   

                (Statistical number: 5107806)                                  

                CASINO Portorož,  d.d.              Head shareholders   30,14% 

                (Statistical number: 5680859)                                  

                CETIS d.d.  (Statistical number:    Owner               7,8%   

                5042208)                                                       

                CETIS d.d.  (Statistical number:    Head shareholders   7,81%  

                5042208)                                                       

                CRI Celje d.o.o. (Statistical       Owner                      

                number: 5057108)                                                

                DEKOR-KAMNOSEŠTVO d.o.o.            Owner                      

                (Statistical number: 5627591)                                  

                DROGA d.d. (Statistical number:     Head shareholders   8,53%  

                5048265)                                                       

                EGOLES, d.d. Škofja Loka            Head shareholders   18,72% 

                (Statistical number: 5142415)                                   

                ELAN INVENTA, d.o.o.  (Statistical  Owner                      

                number: 5436729)                                               

                ELEKTRO GORENJSKA d.d.              Head shareholders   2,49%  

                (Statistical number: 5175348)                                  

                ELEKTRO PRIMORSKA d.d.              Head shareholders   2%     

                (Statistical number: 5229839)                                  

                ELEKTROSIGNAL d.o.o. (Statistical   Owner                      

                number: 5145198)                                               

                Fotolik d.o.o. (Statistical         Owner                      

                number: 5144949)                                                

                GORENJE, d.d.  (Statistical         Head shareholders   16,37% 

                number: 5163676)                                               

                GOSPODARSKO RAZSTAVIŠČE d.o.o.      Owner                      

                (Statistical number: 5003121)                                  

                GRADIS GP Jesenice d.d.             Head shareholders   24,36% 

                (Statistical number: 5074894)                                   

                Gradis Strojno prometne operative   Head shareholders   22,52% 

                d.d.                                                           

                GRAND INVEST d.d. (Statistical      Head shareholders           

                number: 5644593)                                               

                GROSIST GORICA d.d. (Statistical    Head shareholders   10%    

                number: 5001595)                                               

                GUMA d.d. (Statistical number:      Head shareholders   10%    

                5080681)                                                       

                HIT d.d. Nova Gorica (Statistical   Head shareholders   33,33% 

                number: 5232058)                                               

                HMEZAD AGRINA d.d. (Statistical     Head shareholders   20,13% 

                number: 5151031)                                               

                IBI Kranj                           Head shareholders   6,5%   

                IBN-JT d.d. - v stečaju             Head shareholders   10%    

                (Statistical number: 5005469)                                  

                IEVT d.d. (Statistical number:      Head shareholders   24,37% 

                5051665)                                                       

                IGM STREŠNIK d.d.  (Statistical     Head shareholders   10%    

                number: 5040108)                                                

                IMONT d.o.o. (Statistical number:   Owner                      

                5033560)                                                       

                IMP CRPALKE d.d. (Statistical       Head shareholders   19,7%  

                number: 5226538)                                               

                INDE KOPER d.d. (Statistical        Head shareholders   10%    

                number: 5057027)                                               

                INDOS d.d. (Statistical number:     Head shareholders   23,8%  

                5034469)                                                       

                INLES TRGOVINA d.d. Ribnica         Head shareholders   5%     

                (Statistical number: 5039045)                                  

                INTEGRAL D.D. JESENICE              Head shareholders   10%    

                (Statistical number: 5069637)                                  

                INTEGRAL KUM d.d. (Statistical      Head shareholders   10%    

                number: 5448727)                                               

                INTEREUROPA d.d.  (Statistical      Head shareholders   4,28%  

                number: 5001684)                                                

                Intertrade ITS, d.d. (Statistical   Head shareholders   10%    

                number: 5001765)                                               

                INTES d.d. (Statistical number:     Head shareholders   10%    

                5102294)                                                       

                JATA-REJA d.d. Ljubljana            Head shareholders   11%    

                (Statistical number: 5100267)                                   

                KMETIJSKI KOMBINAT PTUJ d.d.        Head shareholders   12,91% 

                (Statistical number: 5150167)                                  

                KOČNA d.d. (Statistical number:     Head shareholders   11%    

                5024684)                                                       

                KOMPAS MTS d.d. (Statistical        Head shareholders   11,35% 

                number: 5004560)                                               

                KOVINSKA BLED, d.d. (Statistical    Head shareholders   11%    

                number: 5072166)                                               

                Lesnina Gramex d.d. (Statistical    Head shareholders   9,3%   

                number: 5000726)                                               

                LJUBLJANSKI KINEMATOGRAFI d.d.      Head shareholders   8,7%   

                LOTERIJA SLOVENIJE, d.d.            Head shareholders   25%    

                (Statistical number: 5022053)                                  

                LUKA KOPER, d.d. (Statistical       Head shareholders   4,98%  

                number: 5144353)                                               

                Mehanika Trbovlje d.d.              Head shareholders   13%    

                (Statistical number: 5033071)                                  

                MIK d.d. Prebold (Statistical       Head shareholders   10%    

                number: 5067251)                                                

                Modra zavarovalnica d.d.            Head shareholders   100%   

                (Statistical number: 6031226)                                  

                MONT d.d. (Statistical number:      Head shareholders   10%     

                5036402)                                                       

                MURA - VGP d.d. (Statistical        Head shareholders   4%     

                number: 5150507)                                               

                NOVA OPREMA d.d. (Statistical       Head shareholders   16,14% 

                number: 5039185)                                               

                OCM d.o.o. (Statistical number:     Owner                      

                5399297)                                                       

                PECA COMMERCE d.o.o. (Statistical   Owner                      

                number: 5167183)                                               

                PERUTNINA PTUJ d.d. (Statistical    Head shareholders   9,92%  

                number: 5141966)                                               

                PETROL d.d., Ljubljana              Head shareholders   8,28%  

                (Statistical number: 5025796)                                   

                Pivovarna Laško, d.d. (Statistical  Head shareholders   7,06%  

                number: 5049318)                                               

                PODJETJE VELO, TRGOVINA NA VELIKO   Head shareholders   12,54% 

                IN MALO d.d. (Statistical number:                              

                5105706)                                                       

                Pohištvo Čepovan d.d. (Statistical  Head shareholders   10%    

                number: 5038561)                                               

                POMURSKE MLEKARNE d.d.              Head shareholders   5,05%  

                (Statistical number: 5025087)                                  

                POSAVJE Trgovina d.d. Brezice       Head shareholders   11,54% 

                (Statistical number: 5028825)                                  

                PUV Celje d.d. (Statistical         Head shareholders   9,4%   

                number: 5624754)                                               

                Razvojni center Inženiringi Celje,  Owner                      

                d.o.o. (Statistical number:                                    

                5204925)                                                        

                RGS d.d. Ljubljana (Statistical     Head shareholders   10%    

                number: 5098688)                                               

                SAVA, d.d. (Statistical number:     Head shareholders   18,71% 

                5111358)                                                       

                SGP Kograd - Igem d.d.              Head shareholders   19,58% 

                (Statistical number: 5077907)                                   

                SGP Tržič d.d. (Statistical         Head shareholders   10%    

                number: 5075521)                                               

                SM STROJKOPLAST d.o.o.              Owner                       

                (Statistical number: 5033080)                                  

                SOLIDARNOST d.d. (Statistical       Head shareholders   16,58% 

                number: 5221668)                                               

                Špecerija Bled d.d. (Statistical    Head shareholders   9,71%  

                number: 5025222)                                               

                STTC d.d. (Statistical number:      Head shareholders   6%     

                5077079)                                                       

                Svilanit d.d. Kamnik                Head shareholders   21%    

                TALUM d.d. Kidričevo (Statistical   Head shareholders   4,79%  

                number: 5040868)                                               

                Tapetdekor d.d.                     Head shareholders   10%    

                TEKSTILNA SENOZECE d.d.             Head shareholders   15,23% 

                (Statistical number: 5040175)                                  

                TELEKOM SLOVENIJE, d.d.             Head shareholders   5,59%  

                (Statistical number: 5014018)                                  

                TERME ČATEŽ d.d. (Statistical       Head shareholders   23,79% 

                number: 5004896)                                               

                TERME OLIMIA d.d. (Statistical      Head shareholders   19,98% 

                number: 5090822)                                                

                TET d.o.o. (Statistical number:     Owner                      

                5035511)                                                       

                TKI HRASTNIK, d.d. (Statistical     Head shareholders   7,32%  

                number: 5043093)                                               

                TLP d.o.o. -v stečaju (Statistical  Owner                      

                number: 5049385)                                               

                TOKO LINE d.d. (Statistical         Head shareholders   9,17%  

                number: 5500800)                                               

                TRELES Trebnje d.o.o. (Statistical  Owner                      

                number: 5143942)                                               

                UNIOR d.d (Statistical number:      Head shareholders   5,55%  

                5042437)                                                       

                URADNI LIST d.o.o.                  Head shareholders   1%     

                USNJE CELJE d.o.o. (Statistical     Owner                      

                number: 5035171)                                               

                VELANA d.d. (Statistical number:    Head shareholders   10%    

                5033748)                                                       

                ŽANA d.d.Žalec (Statistical         Head shareholders   16,21% 

                number: 5101662)                                                

                Zdravilišče Moravci d.d.            Head shareholders   16,19% 

                (Statistical number: 5213622)                                  

                KDPW - FIDUCIARNI RAČUN:                                        

                GORENJE, d.d.  (Statistical         Head shareholders   8,08%  

                number: 5163676)                                               

                KRKA, d.d., Novo mesto (Statistical number: 5043611):           

                IEDC d.o.o. (Statistical number:    Owner                      

                1197843)                                                       

                TERME KRKA, d.o.o. Novo mesto       Owner                      

                (Statistical number: 5600120)                                  

                LUKA KOPER, d.d. (Statistical number: 5144353):                

                Adria Investicije d.o.o.            Owner               100%   

                Adria Terminali d.o.o.              Owner               51%    

                Adria Transport d.o.o.              Owner               50%    

                Adria Transport, d.o.o.             Owner                      

                (Statistical number: 2136163)                                  

                ADRIA-TOW d.o.o. Koper              Owner               50%    

                (Statistical number: 5661200)                                  

                ADRIAFIN d.o.o.                     Owner               50%    

                Adriasole d.o.o.                    Owner               24,9%  

                AVTOSERVIS KOPER d.o.o.             Owner               49%    

                (Statistical number: 5897513)                                   

                Eco-morje d.o.o.                    Owner               100%   

                Ecopark d.o.o.                      Owner               70%    

                Ecoporto Koper d.o.o.               Owner               24,9%  

                Golf Istra d.o.o.                   Owner               20%    

                IEDC d.o.o. (Statistical number:    Owner                      

                1197843)                                                       

                INTEREUROPA d.d.  (Statistical      Head shareholders   7,99%  

                number: 5001684)                                               

                Kopinvest Netherlends B.V.          Owner               50%    

                Luka Kopar Beograd d.o.o.           Owner               90%    

                Luka Koper Deutschland GmbH         Owner               74,8%  

                LUKA KOPER INPO d.o.o.              Owner               100%   

                (Statistical number: 5918707)                                  

                Luka Koper Pristan d.o.o.           Owner               100%   

                POSCO - ESDC d.o.o. (Statistical    Owner                      

                number: 2304465)                                                

                Railport Arad s.r.l.                Owner               40,49% 

                SC Trade Trans Terminal s.r.l.      Owner               26%    

                TOC d.o.o.                          Owner               68,13% 

                Mojca Osolnik Videmšek:                                        

                GB d.d., Kranj (Statistical         Board of Directors         

                number: 5103061)                                                

                SDH d.d. (Statistical number: 5727847):                        

                AERODROM LJUBLJANA, D.D.            Head shareholders   13,37% 

                (Statistical number: 5142768)                                  

                ALPEMETAL d.o.o. Ljubljana          Owner                      

                (Statistical number: 5145058)                                  

                ALPETOUR-BANDAG, d.d. (Statistical  Head shareholders   10%    

                number: 5144540)                                               

                ATOMSKE TOPLICE d.d.                Head shareholders   4,79%  

                AVTONABAVA d.d. (Statistical        Head shareholders   10%    

                number: 5003687)                                               

                Bača d.d. Podbrdo (Statistical      Head shareholders   10%    

                number: 5034221)                                               

                BANKA CELJE d.d. (Statistical       Head shareholders   9,38%  

                number: 5026121)                                               

                BEGRAD d.d. NOVO MESTO              Head shareholders   6,7%   

                (Statistical number: 5062381)                                   

                BTC TERMINAL SEŽANA d.d.            Head shareholders   9,9%   

                (Statistical number: 5107806)                                  

                CASINO Portorož,  d.d.              Head shareholders   18,93% 

                (Statistical number: 5680859)                                  

                CETIS d.d.  (Statistical number:    Owner               7,47%  

                5042208)                                                        

                CETIS d.d.  (Statistical number:    Head shareholders   7,47%  

                5042208)                                                       

                CINKARNA Celje, d.d. (Statistical   Head shareholders   11,41% 

                number: 5042801)                                               

                ČZP VEČER d..d. (Statistical        Head shareholders   10%    

                number: 5048362)                                               

                DEKOR-KAMNOSEŠTVO d.o.o.            Owner                      

                (Statistical number: 5627591)                                  

                DROGA d.d. (Statistical number:     Head shareholders   8,82%  

                5048265)                                                       

                ELEKTROSIGNAL d.o.o. (Statistical   Owner                      

                number: 5145198)                                               

                Fotolik d.o.o. (Statistical         Owner                      

                number: 5144949)                                               

                GRADIS GP Jesenice d.d.             Head shareholders   9,53%  

                (Statistical number: 5074894)                                   

                Gradis Strojno prometne operative   Head shareholders   10%    

                d.d.                                                           

                GRAND INVEST d.d. (Statistical      Head shareholders          

                number: 5644593)                                               

                GROSIST GORICA d.d. (Statistical    Head shareholders   10%    

                number: 5001595)                                                

                GUMA d.d. (Statistical number:      Head shareholders   10%    

                5080681)                                                       

                HIT d.d. Nova Gorica (Statistical   Head shareholders   33,33% 

                number: 5232058)                                               

                HMEZAD AGRINA d.d. (Statistical     Head shareholders   10%    

                number: 5151031)                                               

                IBI Kranj                           Head shareholders   6,5%   

                IBN-JT d.d. - v stečaju             Head shareholders   10%    

                (Statistical number: 5005469)                                  

                IEVT d.d. (Statistical number:      Head shareholders   10%    

                5051665)                                                       

                IGM STREŠNIK d.d.  (Statistical     Head shareholders   10%    

                number: 5040108)                                                

                IMP CRPALKE d.d. (Statistical       Head shareholders   9%     

                number: 5226538)                                               

                INDE KOPER d.d. (Statistical        Head shareholders   10%    

                number: 5057027)                                               

                INDOS d.d. (Statistical number:     Head shareholders   9,8%   

                5034469)                                                        

                INLES TRGOVINA d.d. Ribnica         Head shareholders   4%     

                (Statistical number: 5039045)                                  

                INTEGRAL D.D. JESENICE              Head shareholders   10%    

                (Statistical number: 5069637)                                  

                INTEGRAL KUM d.d. (Statistical      Head shareholders   10%    

                number: 5448727)                                               

                INTEREUROPA d.d.  (Statistical      Head shareholders   2,82%  

                number: 5001684)                                               

                Intertrade ITA, d.d. (Statistical   Head shareholders   7,69%  

                number: 5111978)                                               

                Intertrade ITS, d.d. (Statistical   Head shareholders   11,3%  

                number: 5001765)                                               

                INTES d.d. (Statistical number:     Head shareholders   10%    

                5102294)                                                       

                JATA-REJA d.d. Ljubljana            Head shareholders   11%    

                (Statistical number: 5100267)                                  

                KEFO d.d. (Statistical number:      Head shareholders   10%    

                5000971)                                                       

                KMETIJSKI KOMBINAT PTUJ d.d.        Head shareholders   5,73%  

                (Statistical number: 5150167)                                  

                KOČNA d.d. (Statistical number:     Head shareholders   9%     

                5024684)                                                        

                KOPLAST PLASTICNI IZDELKI d.d.      Head shareholders   10%    

                (Statistical number: 5466148)                                  

                KOVINSKA BLED, d.d. (Statistical    Head shareholders   10%     

                number: 5072166)                                               

                Lesnina Gramex d.d. (Statistical    Head shareholders   9,3%   

                number: 5000726)                                               

                Letrika d.d. (Statistical number:   Head shareholders   7,08%  

                5045410)                                                       

                LOTERIJA SLOVENIJE, d.d.            Head shareholders   15%    

                (Statistical number: 5022053)                                  

                LUKA KOPER, d.d. (Statistical       Head shareholders   11,13% 

                number: 5144353)                                               

                Mehanika Trbovlje d.d.              Head shareholders   10%    

                (Statistical number: 5033071)                                  

                MIK d.d. Prebold (Statistical       Head shareholders   10%    

                number: 5067251)                                                

                MONT d.d. (Statistical number:      Head shareholders   10%    

                5036402)                                                       

                NOLIK d.d. (Statistical number:     Head shareholders   19,95% 

                5476135)                                                       

                NOVA OPREMA d.d. (Statistical       Head shareholders   8,19%  

                number: 5039185)                                                

                OCM d.o.o. (Statistical number:     Owner                      

                5399297)                                                       

                PECA COMMERCE d.o.o. (Statistical   Owner                      

                number: 5167183)                                               

                PETROL d.d., Ljubljana              Head shareholders   19,75% 

                (Statistical number: 5025796)                                  

                PODJETJE VELO, TRGOVINA NA VELIKO   Head shareholders   10%    

                IN MALO d.d. (Statistical number:                              

                5105706)                                                       

                Pohištvo Čepovan d.d. (Statistical  Head shareholders   10%    

                number: 5038561)                                               

                POMURSKE MLEKARNE d.d.              Head shareholders   3,34%  

                (Statistical number: 5025087)                                   

                POSAVJE Trgovina d.d. Brezice       Head shareholders   10%    

                (Statistical number: 5028825)                                  

                PUV Celje d.d. (Statistical         Head shareholders   9,4%   

                number: 5624754)                                               

                Razvojni center Inženiringi Celje,  Owner                      

                d.o.o. (Statistical number:                                     

                5204925)                                                       

                RGS d.d. Ljubljana (Statistical     Head shareholders   10%    

                number: 5098688)                                               

                SALUS, Ljubljana, d.d.              Head shareholders   8,55%  

                (Statistical number: 5002796)                                  

                Sava Re d.d. (Statistical number:   Head shareholders   25%    

                5063825)                                                       

                SAVA, d.d. (Statistical number:     Head shareholders   11,06% 

                5111358)                                                       

                SGP Kograd - Igem d.d.              Head shareholders   10%    

                (Statistical number: 5077907)                                  

                SGP Tržič d.d. (Statistical         Head shareholders   10%    

                number: 5075521)                                               

                SOLIDARNOST d.d. (Statistical       Head shareholders   10%    

                number: 5221668)                                               

                Špecerija Bled d.d. (Statistical    Head shareholders   9,71%  

                number: 5025222)                                               

                STTC d.d. (Statistical number:      Head shareholders   6%     

                5077079)                                                        

                Svilanit d.d. Kamnik                Head shareholders   11%    

                Tapetdekor d.d.                     Head shareholders   10%    

                TEKSTILNA SENOZECE d.d.             Head shareholders   10%    

                (Statistical number: 5040175)                                  

                TELEKOM SLOVENIJE, d.d.             Head shareholders   4,25%  

                (Statistical number: 5014018)                                  

                TERME OLIMIA d.d. (Statistical      Head shareholders   4,79%  

                number: 5090822)                                               

                TLP d.o.o. -v stečaju (Statistical  Owner                      

                number: 5049385)                                               

                TOKO LINE d.d. (Statistical         Head shareholders   9,17%  

                number: 5500800)                                               

                TRELES Trebnje d.o.o. (Statistical  Owner                      

                number: 5143942)                                               

                URADNI LIST d.o.o.                  Head shareholders   1%     

                USNJE CELJE d.o.o. (Statistical     Owner                      

                number: 5035171)                                               

                VIPAVA 1894 d.d. (Statistical       Head shareholders   8,23%  

                number: 5150035)                                                

                ŽANA d.d.Žalec (Statistical         Head shareholders   9,93%  

                number: 5101662)                                               

                ZAVAROVALNICA TRIGLAV, d.d.         Head shareholders   28,07% 

                (Statistical number: 5063345)                                  

                Zdravilišče Moravci d.d.            Head shareholders   7,2%   

                (Statistical number: 5213622)                                   

                ŽITO, d.d. (Statistical number:     Head shareholders   12,26% 

                5391814)                                                       

                Sergeja Slapničar:                                             

                NLB d.d. (Statistical number:       Supervisory Board          

                5860571)                                                       

                SOCIETE GENERALE-SPLITSKA BANKA D.D. - FIDUCIARNI:             

                MERCATOR, d.d. (Statistical         Head shareholders   10,53% 

                number: 5300231)                                               

                Vincenc Manček:                                                

                TPV d.d. (Statistical number:       Supervisory Board          

                5284112)                                                       

                ZAVAROVALNICA TRIGLAV, d.d. (Statistical number: 5063345):     

                AERODROM LJUBLJANA, D.D.            Head shareholders   7,8%   

                (Statistical number: 5142768)                                  

                AVRIGO, d.o.o. (Statistical         Head shareholders   46,51% 

                number: 5143373)                                                

                BANKA CELJE d.d. (Statistical       Head shareholders   3,54%  

                number: 5026121)                                               

                DROGA d.d. (Statistical number:     Head shareholders   3,64%  

                5048265)                                                       

                GB d.d., Kranj (Statistical         Head shareholders   3,99%  

                number: 5103061)                                               

                GORIŠKE OPEKARNE d.d. (Statistical  Head shareholders   14,99% 

                number: 5095085)                                               

                MLINOPEK d.d. Murska Sobota         Head shareholders   7,5%   

                (Statistical number: 5048907)                                  

                NAMA d.d. Ljubljana (Statistical    Head shareholders   38,05% 

                number: 5024811)                                               

                POMURSKE MLEKARNE d.d.              Head shareholders   2%     

                (Statistical number: 5025087)                                  

                PSC d.o.o. Tolmin (Statistical      Owner                      

                number: 5466164)                                                

                SIQ LJUBLJANA  (Statistical         Owners                     

                number: 5700108)                                               

                SLOVENIJALES d.d. (Statistical      Head shareholders   100%   

                number: 5005710)                                               

                TERME ČATEŽ d.d. (Statistical       Head shareholders   1,66%  

                number: 5004896)                                                

                TRIGLAV NALOŽBE, d.d. (Statistical  Head shareholders   100%   

                number: 1716379)                                               

                TRIGLAV RE, d.d. (Statistical       Head shareholders   100%   

                number: 1362992)                                               

                TRIGLAV ZZ, d.d. (Statistical       Head shareholders   100%   

                number: 5848091)                                               

                UNIOR d.d (Statistical number:      Head shareholders   3,52%  

                5042437)       

                                               

Bank relations  NOVA LJUBLJANSKA BANKA d.d., LJUBLJANA:                        

                Central address: SI Trg republike 2, 1520 Ljubljana            

                Account number: SI56 0297 0001 8014 811                        

                                                                               

                SKB BANKA d.d. LJUBLJANA:                                       

                Central address: SI Ajdovščina 4, 1513 Ljubljana               

                Account number: SI56 0315 0100 5647 575                        

                                                                                

                ABANKA VIPA d.d.:                                              

                Central address: SI Slovenska cesta 58, 1517 Ljubljana         

                Account number: SI56 0510 0800 0029 868                         

                                                                               

                UNICREDIT BANKA SLOVENIJA d.d.:                                

                Central address: SI Šmartinska 140, 1000 Ljubljana             

                Account number: SI56 290000101828323                           

Company         Positive                                                   (20)

development                                                                    

Business course good                                                       (20)

Terms of        Within agreed terms                                        (21)

payment                                                                        

Business        Business connection are premissible                        (21)

connection                                                                     

 

financial Data

                                              

A. The enclosed balance of 2013 is originated from official source, it is not  

authenticated by the auditor. (31.12.2013 - 1 EUR)                             

B. The enclosed balance of 2012 is originated from official source, it is      

authenticated by the auditor . (31.12.2012 - 1 EUR)                             

C. The enclosed balance of 2011 is originated from official source, it is      

authenticated by the auditor . (31.12.2011 - 1 EUR)                            

D. The enclosed balance of 2010 is originated from other source, it is         

authenticated by the auditor . (31.12.2010 - 1 EUR)                            

balance                              A           B           C           D

                            31.12.2013  31.12.2012  31.12.2011  31.12.2010

ASSETS (AKTIVA)            1.701.235.000 1.566.285.000 1.463.448.000 1.446.311.426

LONG-TERM ASSETS           945.947.000 863.442.000 809.065.000 809.048.604

Intangible assets and       28.303.000  29.908.000  29.654.000  29.752.341

long-term deferred costs                                                   

and accrued revenues                                                      

Intangible assets           23.334.000  29.908.000  29.654.000  29.752.341

Long-term deferred costs     4.969.000           0           0           0

and accrued revenues                                                      

Tangible fixed assets      563.978.000 519.219.000 520.929.000 515.075.290

Long-term financial        324.481.000 297.183.000 239.750.000 244.890.539

investments and Real                                                       

estate investments                                                        

Investment property                  0           0           0           0

Long-term financial        324.481.000 297.183.000 239.750.000 244.890.539

investments                                                               

Long-term operating         14.018.000     145.000     155.000           0

receivables                                                               

Deferred receivables for    15.167.000  16.987.000  18.577.000  19.162.160

taxes                                                                     

>SHORT-TERM ASSETS         >755.288.000 >702.843.000 >654.383.000 >637.262.822

Assets (group for                    0           0           0           0

estrange) for sell                                                        

Inventories                190.968.000 190.555.000 193.299.000 164.290.906

Short-term financial        73.284.000  65.984.000  46.811.000  50.112.748

investments                                                               

Short-term operating       441.619.000 432.935.000 399.250.000 421.312.406

receivables                                                               

Cash assets                 49.417.000  13.369.000  15.023.000   1.546.762

>Short-term deferred                >0          >0          >0          >0

costs and accrued revenues                                                

Off-balance sheet items              0           0           0   6.211.880

>LIABILITIES               >1.701.235.000 >1.566.285.000 >1.463.448.000 >1.446.311.426

>CAPITAL                   >1.332.246.000 >1.232.215.000 >1.140.485.000 >1.058.154.405

Called-up capital           59.126.000  59.126.000  59.126.000  59.126.194

Basic (subscribed) capital  59.126.000  59.126.000  59.126.000  59.126.194

Non called-up capital                0           0           0           0

(deductive item)                                                           

 Capital reserves                    0           0           0 101.503.490

Reserves from profit       219.746.000 203.816.000 908.646.000 726.812.770

Surplus from revaluation   -69.372.000 -55.656.000           0   1.766.984

Retained net               1.122.746.000 1.024.929.000  60.972.000  62.284.849

Net business result for              0           0 111.741.000 106.660.118

the business year                                                         

>PROVISIONS AND LONG-TERM  >96.778.000 >99.243.000 >100.944.000 >104.299.602

ACCRUED COSTS AND                                                         

DEFERRED REVENUES                                                         

>FINANCIAL AND BUSINESS    >267.388.000 >234.827.000 >181.992.000 >283.857.419

LIABILITIES                                                               

LONG-TERM LIABILITIES        2.000.000  14.067.000  25.886.000  67.241.746

Long-term financial          2.000.000  13.700.000  25.500.000  66.800.000

liabilities                                                                

Long-term operating                  0           0           0           0

liabilities                                                               

Deferred liabilities for             0     367.000     386.000     441.746

taxes                                                                     

>SHORT-TERM LIABILITIES    >265.388.000 >220.760.000 >156.106.000 >216.615.673

Liabilities, included in             0           0           0           0

groups for estrange                                                       

Short-term financial        70.190.000  58.917.000  60.556.000  55.996.309

liabilities                                                               

Short-term operating       195.198.000 161.843.000  95.550.000 160.619.364

liabilities                                                               

SHORT-TERM ACCRUED COSTS     4.823.000           0  40.027.000           0

AND DEFERRED REVENUES                                                      

Off-balance sheet items              0           0           0   6.211.880

A. The enclosed profit and loss account of 2013 is originated from official    

source, it is not authenticated by the auditor. (31.12.2013 - 1 EUR)            

B. The enclosed profit and loss account of 2012 is originated from official    

source, it is authenticated by the auditor . (31.12.2012 - 1 EUR)              

C. The enclosed profit and loss account of 2011 is originated from official    

source, it is authenticated by the auditor . (31.12.2011 - 1 EUR)              

D. The enclosed profit and loss account of 2010 is originated from other       

source, it is authenticated by the auditor . (31.12.2010 - 1 EUR)              

profit and loss account              A           B           C           D

                            31.12.2013  31.12.2012  31.12.2011  31.12.2010

>Net sales                 >1.116.339.000 >1.035.280.000 >957.653.000 >931.373.353

>Changes in the value of   >13.459.000 >-1.586.000             >11.357.663

inventories of products                                                   

and work-in-process                                                       

>Capitalised own products           >0          >0                      >0

and own services                                                          

>Other operating revenues   >3.007.000  >2.316.000              >6.820.158

(with subventions,                                                        

grants,...)                                                                

>GROSS OPERATING YIELD     >1.132.805.000 >1.036.010.000             >949.551.174

>Cost of goods, material   >631.125.000 >587.557.000             >503.733.434

and services                                                               

Purchase value of goods    316.298.000 290.493.000 273.672.000 261.697.501

and materials sold and                                                    

cost of material and cost                                                  

of material used                                                          

Cost of services           314.827.000 297.064.000 269.358.000 242.035.933

>Labour cost               >185.705.000 >178.045.000 >164.555.000 >162.538.802

Cost of wages              144.787.000 139.174.000             128.574.098

Cost of pension insurance   18.483.000  17.634.000              16.473.206

Cost of other social        10.774.000  10.400.000               9.786.219

insurance                                                                  

Other labour cost           11.661.000  10.837.000               7.705.297

>Write-offs                >71.466.000 >76.316.000             >68.502.627

Depreciation                71.466.000              66.414.000  60.735.288

Revaluation operating                0                           1.444.661

expenses for non-tangible                                                 

assets and tangible fixed                                                 

assets                                                                     

Revaluation operating                0                           6.322.678

expenses for current                                                      

assets                                                                     

Other operating expenses    32.982.000  32.710.000              15.261.072

OPERATING REVENUES         1.119.346.000 1.037.596.000             938.193.511

>OPERATING EXPENSES        >921.278.000 >874.628.000             >750.035.935

>OPERATING RESULT          >198.068.000 >162.968.000             >188.157.576

>EBIT                      >211.527.000 >161.382.000 >180.298.000 >199.515.239

Financial income from        1.703.000  14.686.000                 489.910

investments in other                                                      

enterprises                                                               

Financial income from        3.500.000   7.565.000               2.709.755

loans                                                                      

Financial income from          113.000     180.000               7.437.137

operating receivables                                                     

Financial expenses from     27.284.000   2.563.000               3.344.845

depreciation and write-                                                   

offs of financial                                                         

investments                                                               

Financial expenses from      1.511.000   4.990.000               3.512.286

financial liabilities                                                     

Financial expenses from        172.000     137.000                 124.952

operating liabilities                                                      

Financial income             5.316.000  22.431.000  16.004.000  10.636.802

Financial expenses          28.967.000   7.690.000  15.928.000   6.982.083

Other revenues                       0           0                 440.210

Other expenses                       0           0                 213.578

Total revenues             1.138.121.000 1.058.441.000 976.473.000 960.628.186

>Total costs               >950.245.000 >882.318.000 >796.099.000 >757.231.596

Total business result      187.876.000 176.123.000 180.374.000 203.396.590

>Tax on profit             >23.203.000 >19.918.000 >29.982.000 >37.662.006

Deferred taxs                        0   1.590.000           0    -185.432

Net business result for    164.673.000 154.615.000 150.392.000 165.920.016

the accounting period                                                     

                                                               

Ratios                                     2010    2011    2012    2013

                Equity ratio               0,04    0,04    0,04    0,03

                Cleared equity ratio       0,04    0,04    0,07    0,07

                Current liquidity          2,94    4,19    3,18    2,85

                Quick liquidity            2,18    2,95    2,32    2,13

                Working capital         420647149 498277000 482083000 489900000

                Gearing                   24,46   24,75   26,49   28,77

                Cleared gearing            2,14    1,46    0,63    0,56

                Profitability             21,17   18,47   16,64   16,51

                Operating profitability   17,27    15,4   14,61   14,47

                Stock days                62,42   72,25   65,71   61,24

                Debtor days                 160     149     149     142

                Supplier days             61,03   35,72   55,81    62,6

 

 

 

 


 

FOREIGN EXCHANGE RATES

 

Currency

Unit

Indian Rupees

US Dollar

1

Rs.61.29

UK Pound

1

Rs.98.62

Euro

1

Rs.78.15

 

 

INFORMATION DETAILS

 

Analysis Done by :

RAS

 

 

Report Prepared by :

TPT

 


 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.