MIRA INFORM REPORT

Report Date :

30.09.2014

IDENTIFICATION DETAILS

Name :	DK COMPANY A/S

Registered Office :	La Cours Vej 6, Ikast 7430

Country :	Denmark

Financials (as on) :	2013

Date of Incorporation :	25.11.1958

Com. Reg. No.:	24431118

Legal Form :	Limited Company

Line of Business :	Wholesale of clothing

No of Employees :	194

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)

Denmark

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

DENMARK - ECONOMIC OVERVIEW

This thoroughly modern market economy features a high-tech agricultural sector, state-of-the-art industry with world-leading firms in pharmaceuticals, maritime shipping and renewable energy, and a high dependence on foreign trade. Denmark is a member of the European Union (EU); Danish legislation and regulations conform to EU standards on almost all issues. Danes enjoy a high standard of living and the Danish economy is characterized by extensive government welfare measures and an equitable distribution of income. Denmark is a net exporter of food and energy and enjoys a comfortable balance of payments surplus, but depends on imports of raw materials for the manufacturing sector. Within the EU, Denmark is among the strongest supporters of trade liberalization. After a long consumption-driven upswing, Denmark's economy began slowing in 2007 with the end of a housing boom. Housing prices dropped markedly in 2008-09 and, following a short respite in 2010, have since continued to decline. Household indebtedness is still relatively high at more than 275% of gross disposable income in the first half of 2013. The global financial crisis has exacerbated this cyclical slowdown through increased borrowing costs and lower export demand, consumer confidence, and investment. Denmark made a modest recovery in 2010, in part because of increased government spending; however, the country experienced a technical recession in late 2010-early 2011. Historically low levels of unemployment rose sharply with the recession and have remained at about 6% in 2010-13, based on the national measure, about two-thirds average EU unemployment. An impending decline in the ratio of workers to retirees will be a major long-term issue. Denmark maintained a healthy budget surplus for many years up to 2008, but the budget balance swung into deficit in 2009, where it remains. In spite of the deficits, the new coalition government delivered a modest stimulus to the economy in 2012. Nonetheless, Denmark's fiscal position remains among the strongest in the EU with public debt at about 46% of GDP in 2013. Despite previously meeting the criteria to join the European Economic and Monetary Union (EMU), so far Denmark has decided not to join, although the Danish krone remains pegged to the euro.

Source : CIA

REGISTERED NAME & COMPANY SUMMARY

Company Summary

Business Name	DK COMPANY A/S
Country	DENMARK
Company Registration Number/CVR	24431118
Main Code	464210
Main Activity	Wholesale of clothing
Company Status	Active
Latest Revenue
Latest Shareholder Equity	149.190
Provider Rating Description	Businesses at this level are regarded as having excellent creditworthiness. Small businesses only have a limited possibility of achieving this level. Businesses at this level are in a class by themselves and will have results or financial foundations which are among the best in the country. The credit risk is regarded as minimal.

Basic Information
Business Name	DK Company A/S
Registered Company Name	DK Company A/S
Company Registration Number	24431118
Country	DENMARK
Date of Company Registration	1958-11-25
Legal Form	Limited company
Company Status	Active
Currency of this Report	DKK
Principal Activity Code	464210
Principal Activity Description	Wholesale of clothing
Contact Address	La Cours Vej 6, Ikast 7430
Contact Telephone Number	96600700

DIRECTORS/MANAGEMENT

Directors/Managers

Current Directors
Name	Position	Start Date
Jens Poulsen	Managing director
Jens Obel Jørgensen	General manager
Søren Bak Lauritsen	General manager
Kasper Philipsen	General manager
Bo Boulund Knudsen	Chairman
Jacob Holst Vinther	Deputy Chairman
Janne Burkard Moltke-Leth	Member of the board
Alexander Thomas Martensen-Larsen	Member of the board

NEGATIVE INFORMATION

No negative information found.

SHARE & SHARE CAPITAL INFORMATION

Share Capital Structure

Currency	DKK
Nominal Share Capital	68.077.539

PAYMENT INFORMATION

N/a

GROUP STRUCTURE & AFFILIATED COMPANIES

Group Structure

Ultimate Holding Parent
Name	Country
DKC Holding 2011 A/S

Subsidaries
Name	Country
Designers Market By Nicole A/S	DENMARK
Miss O ApS	DENMARK
DK Company Retail A/S	DENMARK
Mid Pro Tex A/S	DENMARK
DK Company Vejle A/S	DENMARK
Dkc Asia Ltd.	HONG KONG
DKC Norway AS	NORWAY
DKC Production CO.,Ltd	CHINA
Karen By Simonsen A/S	DENMARK
DK Company Norway AS	NORWAY
DKC Retail Norway AS	NORWAY

FINANCIAL INFORMATION

Accounts

Profit and Loss
Financial Date	2013	2012	2011
Number of Weeks	52	52	52
Currency	DKK	DKK	DKK
Revenue	449.506.000	460.594.000	83.013.000
Operating Profit	42.844.000	35.995.000	-10.026.000
Retained Profit	30.017.000	19.126.000	39.616.000

Balance Sheet
Financial Date	2013	2012	2011
Number of Weeks	52	52	52
Currency	DKK	DKK	DKK
Total Assets	410.369.000	411.291.000	346.547.000
Other Reserves	149.190.000	121.635.000	108.262.000

Additional Accounts Information
Date Format	MM-DD
Accounts Start Date	01-01
Accounts End Date	12-31

FOREIGN EXCHANGE RATES

N/a

ADDITIONAL INFORMATION

Activities
Activity Code	Activity Description
464210	Wholesale of clothing

Previous Names
Previous Name	Date Changed from Previous Name
Bonusbanken I Herning A/S
Bonusbanken A/S
Holdingselskabet af 1958 A/S

Contact Information

Main Address
Address	Country	Telephone
La Cours Vej 6, Ikast 7430	DENMARK	96600700

Email Addresses

info@dkcompany.com

Web Pages

www.dkcompany.dk

Other Information

Employee Information
Year Reported	Number of Employees
2013	194
2012	155
2011	141

Real Estate
Real Estate	No

Other Trading Names
Type	Name
Business name	Blue Willi's A/S
Business name	Designersmarket A/S
Business name	DK Classic A/S
Business name	K-Retail A/S
Business name	Kaffe Clothing A/S
Business name	Kidzone A/S
Business name	Kön og Mön A/S
Business name	Occupied A/S

Other Information
Type	Text
No. of employees	According to information from the business the number of employees is 200.
Historical data	In 2011 the company took over the activities previously carried on by Kaffe Clothing Company A/S (CVR 27969712).
Historical data	In 2011 the company took over the activities previously carried on by Kaffe Clothing Company A/S (CVR 27969712).
Historical data	In 2011 the company took over the activities previously carried on by DK Company A/S (CVR 25823648).
Historical data	The company has per 2008 transferred its former activities to Vestjysk Bank A/S (cvr. 34631328).
Capital conditions	fully paid up

Additional Accounts Notes
Notes Date	Notes Detail
2013-01-01T00:00:00	In the financial statement of 2013 attention is drawn to leasing commitments.
2011-01-01T00:00:00	In the financial statement of 2011 new financial principle has been applied, and no figures are comparable with the ones of previous years.

Other Trading Names
Type	Name
Business name	Blue Willi's A/S
Business name	Designersmarket A/S
Business name	DK Classic A/S
Business name	K-Retail A/S
Business name	Kaffe Clothing A/S
Business name	Kidzone A/S
Business name	Kön og Mön A/S
Business name	Occupied A/S

Other Information
Type	Text
No. of employees	According to information from the business the number of employees is 200.
Historical data	In 2011 the company took over the activities previously carried on by Kaffe Clothing Company A/S (CVR 27969712).
Historical data	In 2011 the company took over the activities previously carried on by Kaffe Clothing Company A/S (CVR 27969712).
Historical data	In 2011 the company took over the activities previously carried on by DK Company A/S (CVR 25823648).
Historical data	The company has per 2008 transferred its former activities to Vestjysk Bank A/S (cvr. 34631328).
Capital conditions	fully paid up

NOTES & COMMENTS

N/a

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.43
UK Pound	1	Rs.99.73
Euro	1	Rs.77.93

INFORMATION DETAILS

Analysis Done by :	DIV

Report Prepared by :	SMN

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.