MIRA INFORM REPORT

Report Date :

03.09..2014

IDENTIFICATION DETAILS

Name :	SKANDISTÅL AB

Registered Office :	Nubbgatan 5, 21124 Malmö

Country :	Sweden

Financials (as on) :	31.12.2013

Date of Incorporation :	03.02.1999

Com. Reg. No.:	5565662771

Legal Form :	Limited liability company

Line of Business :	Wholesale of metals and metal ores

No of Employees :	6

RATING & COMMENTS

MIRA’s Rating :

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)

Sweden

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 a rebound in 2010, but growth slipped in 2013, as a result of continued economic weakness in the EU - Sweden’s main export market

Source : CIA

REGISTERED NAME & COMPANY SUMMARY

Business Name	Skandistål AB
Country	SWEDEN
Company Registration Number	5565662771
Main Activity	Wholesale of metals and metal ores
Activity Code	46720
Company Status	Active
Latest Turnover Figure	50.236.000
Latest Shareholder Equity Figure	2.981.000

Basic Information
Business Name	Skandistål AB
Registered Company Name	Skandistål AB
Company Registration Number	5565662771
Country	SWEDEN
VAT Registration Number	SE556566277101
Date of Company Registration	03/02/1999
Legal Form	Limited liability company
Company Status	Active
Currency of this Report	SEK
Principal Activity Description	Bolaget skall bedriva partihandel med metaller och malmer ävensom idka därmed förenlig verksamhet.
Contact Address	Nubbgatan 5, 21124 MALMÖ
Contact Telephone Number	040-932340

Activities
Activity Code	Activity Description
46720	Wholesale of metals and metal ores
Main Address
Address		Country	Telephone
Nubbgatan 5, 21124 MALMÖ		SWEDEN	040-932340

Other Address
Address	Country
No other addresses for this company.

Email Addresses

info@skandistal.com

Web Pages

www.skandistal.com

Share Capital Structure

DIRECTORS/MANAGEMENT

Current Directors
Name	Appointment Date	Position
Torsten Ragnar Hansson	01/11/2003	Actual Member of Board
Anders Peter Mellberg	01/11/2003	Actual Member of Board
Per Erik Lundqvist	01/11/2003	Actual Member of Board
Stefan Bertil Nilsson	01/11/2003	Actual Member of Board

Previous Directors
Name	Appointment Date	Position	Resignation Date
Anders Peter Mellberg	01/11/2003	Managing Director

Group Structure

NEGATIVE INFORMATION

No negative information given.

SHARE & SHARE CAPITAL INFORMATION

Issued Share Capital

100.000

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	-

GROUP STRUCTURE & AFFILIATED COMPANIES

No group structure for this company.

FINANCIAL INFORMATION

Profit and Loss
Financial Year	2013	2012	2011
Number of Weeks	52	52	52
Currency	SEK	SEK	SEK
Consolidated Accounts	N	N	N
Revenue	50.918.000	57.803.000	56.992.000
Operating Costs	49.800.000	56.858.000	55.535.000
Operating Profit	1.118.000	945.000	1.457.000
Wages & Salaries	-4.572.000	-4.007.000	-3.851.000
Depreciation	-33.000	-73.000	-74.000
Financial Income	21.000	5.000	2.000
Financial Expenses	-162.000	-203.000	-182.000
Extraordinary Income	-	-	-
Extraordinary Costs	-162.000	-203.000	-182.000
Profit before Tax	977.000	747.000	1.278.000
Tax	-345.000	-207.000	-286.000
Profit after Tax	632.000	540.000	992.000
Minority Interests	-	-	-
Other Appropriations	246.000	-36.000	-360.000
Retained Profit	878.000	504.000	632.000

Balance Sheet
Financial Year	2013	2012	2011
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	95.000	155.000	165.000
Total Tangible Assets	95.000	155.000	165.000
Goodwill	0	0	0
Other Intangible Assets	0	0	0
Total Intangible Assets	0	0	0
Loans To Group	0	0	0
Other Loans	0	0	0
Miscellaneous Fixed Assets	0	0	0
Total Other Fixed Assets	0	0	0
TOTAL FIXED ASSETS	95.000	155.000	165.000
Work In Progress	0	0	0
Other Inventories	7.798.000	7.102.000	8.686.000
Total Inventories	7.798.000	7.102.000	8.686.000
Trade Receivables	7.404.000	8.504.000	10.055.000
Group Receivables	0	0	0
Miscellaneous Receivables	1.502.000	920.000	254.000
Total Receivables	8.906.000	9.424.000	10.309.000
Cash	184.000	3.483.000	0
Other Current Assets	0	0	0
TOTAL CURRENT ASSETS	16.888.000	20.009.000	18.995.000
TOTAL ASSETS	16.983.000	20.164.000	19.160.000
Trade Payables	7.027.000	8.161.000	4.994.000
Bank Liabilities	0	3.012.000	4.917.000
Group Payables	0	0	0
Miscellaneous Liabilities	4.626.000	3.694.000	3.942.000
TOTAL CURRENT LIABILITIES	11.653.000	14.867.000	13.853.000
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	2.349.000	2.594.000	2.559.000
TOTAL LONG TERM LIABILITIES	2.349.000	2.594.000	2.559.000
TOTAL LIABILITIES	14.002.000	17.461.000	16.411.000
Called Up Share Capital	100.000	100.000	100.000
Share Premium	0	0	0
Revenue Reserves	2.861.000	2.583.000	2.629.000
Other Reserves	20.000	20.000	20.000
TOTAL SHAREHOLDERS EQUITY	2.981.000	2.703.000	2.749.000

Other Financials
Contingent Liabilities	0	0	0
Working Capital	5.235.000	5.142.000	5.142.000
Net Worth	2.981.000	2.703.000	2.749.000

Ratios
Pre-Tax Profit Margin	1.92 %	1.29 %	2.24 %
Return On Capital Employed	3.41 %	2.13 %	3.87 %
Return On Total Assets Employed	5.75 %	3.70 %	6.67 %
Return On Net Assets Employed	32.77 %	27.64 %	46.49 %
Sales/Net Working Capital	9.73	11.24	11.08
Stock Turnover Ratio	15.31 %	12.29 %	15.24 %
Debtor Days	53.07	53.70	64.40
Creditor Days	50.37	51.53	31.98
Current Ratio	1.45	1.35	1.37
Liquidity Ratio/Acid Test	0.78	0.87	0.74
Current Debt Ratio	3.91	5.50	5.04
Gearing		111.43 %	178.87 %
Equity In Percentage	17.55 %	13.41 %	14.35 %
Total Debt Ratio	4.70	6.46	5.97

FOREIGN EXCHANGE RATES

ADDITIONAL INFORMATION

Employee Information
Year	Number of Employees
2013	6
2012	6
2011	6
2010	6
2009	7

Advisors
Auditor Name	Berth Åke Knutsson

Additional Information

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	46720
Activity Description	Wholesale of metals and metal ores
Industry Average Credit Rating	78 (1 - 100)
Industry Average Credit Limit	1.306.000

Event History
Event Date	Event Description
31/01/2014	Annual account, new
23/01/2014	Annual report (PDF), new
24/04/2013	Annual report (PDF), new
23/04/2013	Annual report (PDF), new
12/02/2013	Annual account, new
08/02/2013	Annual report (PDF), new
02/03/2012	Annual account, new
23/02/2012	Annual report (PDF), new
27/09/2011	Authorised signatories amended or new/amended vacancy text
27/09/2011	Company representatives, changed
27/09/2011	Board, changed
24/02/2011	Annual account, new
21/02/2011	Annual report (PDF), new
09/02/2011	Board, changed
23/02/2010	Annual account, new
10/02/2010	Annual report (PDF), new
08/09/2009	Annual account, new

Negative Information

NOTES & COMMENTS

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.60.61
UK Pound	1	Rs.100.48
Euro	1	Rs.79.56

INFORMATION DETAILS

Analysis Done by :	SUB

Report Prepared by :	SHG

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.