MIRA INFORM REPORT

Report No. :	352791
Report Date :	11.12.2015

IDENTIFICATION DETAILS

Name :	SKF EUROTRADE AKTIEBOLAG
Registered Office :	41550 Göteborg
Country :	Sweden
Financials (as on) :	2014
Date of Incorporation :	23.10.1980
Com. Reg. No.:	5562067610
Legal Form :	Limited Liability Company
Line of Business :	Agents involved in the sale of fuels, ores, metals and industrial chemicals
No. of Employees :	93

RATING & COMMENTS

MIRA’s Rating :

Ba

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory
Payment Behaviour :	No Complaints
Litigation :	Clear

NOTES:

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – March 31, 2015

Country Name	Previous Rating (31.12.2014)	Current Rating (31.03.2015)
Sweden	A1	A1

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

SWEDEN - ECONOMIC OVERVIEW

Aided by peace and neutrality for the whole of the 20th century, Sweden has achieved an enviable standard of living under a mixed system of high-tech capitalism and extensive welfare benefits. Sweden remains outside the Eurozone because of concerns over its impact on the country’s economy, welfare system, 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. Agriculture accounts for less than 1% of GDP. Economic growth slowed in 2013, as a result of continued economic weakness in the EU - Sweden’s main export market; however, Sweden’s economy experienced modest growth in 2014, with an adjusted real GDP growth that averaged 2.1%. Sweden’s economy is expected to grow modestly in 2015, although the country continues to struggle with deflationary pressure.

Source : CIA

Company Summary

Business Name	SKF Eurotrade Aktiebolag
Country	SWEDEN
Company Registration Number	5562067610
Activity Code	46120
Activity Description	Agents involved in the sale of fuels, ores, metals and industrial chemicals
Company Status	Active (Active)
Latest Turnover Figure	1.319.387.000  SEK
Latest Shareholder Equity Figure	31.885.000  SEK

Basic Information

Business Name	SKF Eurotrade Aktiebolag
Registered Company Name	SKF Eurotrade Aktiebolag
Company Registration Number	5562067610
Country	SWEDEN
VAT Registration Number	SE556206761001
Date of Company Registration	23/10/1980
Legal Form	Limited liability company
Company Status	Active (Active)
Currency of this Report	SEK
Principal Activity Code	No code
Principal Activity Description	Bolaget skall bedriva handel huvudsakligen med rullningslager, stål- och metallprodukter, ävensom idka därmed förenlig verksamhet.
Contact Address	41550 GÖTEBORG
Contact Telephone Number	031-3371000

Main Address

Address	41550 GÖTEBORG
Country	SWEDEN
Telephone	031-3371000

Other Addresses

Address	Country
No other addresses for this company

Activities

Activity Code	Activity Description
46120	Agents involved in the sale of fuels, ores, metals and industrial chemicals

Email Addresses

No email addresses for this company

Web Pages

No websites for this company

Employee Information

Year	Number of Employees
2014	93
2013	88
2012	83
2011	89
2010	100

Advisors

Auditor Name

PricewaterhouseCoopers AB

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	46120
Activity Description	Agents involved in the sale of fuels, ores, metals and industrial chemicals
Industry Average Credit Rating	75 (1 - 100)
Industry Average Credit Limit	8.000

Event History

Event Date	Event Description
23/10/2015	Group Structure Change
30/09/2015	Group Structure Change
21/09/2015	Group Structure Change
31/08/2015	Group Structure Change
05/06/2015	Group Structure Change
02/06/2015	Annual account, new
27/05/2015	Annual report (PDF), new
22/04/2015	Company representatives, changed
22/04/2015	Authorised signatories amended or new/amended vacancy text
21/04/2015	Company representatives, changed
21/04/2015	Authorised signatories amended or new/amended vacancy text
02/07/2014	Group Structure Change
24/06/2014	Group annual accout, new
24/06/2014	Limit, increase
24/06/2014	Annual account, new
17/06/2014	Annual report (PDF), new
21/05/2014	Group Structure Change
03/04/2014	Group Structure Change
24/01/2014	Company representatives, changed
23/09/2013	Limit, decrease
23/09/2013	Group annual accout, new
23/09/2013	Annual account, new
10/09/2013	Group Structure Change
05/09/2013	Group Structure Change
26/08/2013	Annual report (PDF), new
20/08/2013	Group Structure Change
19/08/2013	Group Structure Change
06/08/2013	Group Structure Change
05/08/2013	Group Structure Change
26/07/2013	Company representatives, changed
23/08/2012	Group annual accout, new
23/08/2012	Limit, increase
23/08/2012	Annual account, new
08/08/2012	Annual report (PDF), new
31/07/2012	Board, changed
31/07/2012	Company representatives, changed
31/07/2012	Authorised signatories amended or new/amended vacancy text
26/08/2011	Limit, increase
26/08/2011	Annual account, new
26/08/2011	Group annual accout, new
28/07/2011	Annual report (PDF), new
29/03/2011	Phone number, new

Status History

No status history events for this company

Profit and Loss

Financial Year	2014	2013	2012
Number of Weeks	52	52	52
Currency	SEK	SEK	SEK
Consolidated Accounts	No	No	No
Revenue	1.361.290.000	1.195.739.000	1.232.760.000
Operating Costs	1.316.339.000	1.202.419.000	1.198.728.000
Operating Profit	44.951.000	-6.680.000	34.032.000
Financial Income	4.240.000	4.127.000	637.000
Financial Expenses	-1.935.000	-3.824.000	-15.837.000
Extraordinary Income	-	-	-
Extraordinary Costs	-	-	-
Profit before Tax	61.033.000	12.559.000	23.381.000
Tax	-1.463.000	867.000	-9.792.000
Profit after Tax	59.570.000	13.426.000	13.589.000
Minority Interests	-	-	-
Other Appropriations	-46.300.000	-	-
Retained Profit	13.270.000	13.426.000	13.589.000

Balance Sheet

Financial Year	2014	2013	2012
Number of Weeks	52	52	52
Currency	SEK	SEK	SEK
Consolidated Accounts	No	No	No
Land & Buildings	-	-	-
Plant & Machinery	-	-	-
Other Tangible Assets	4.115.000	2.410.000	3.148.000
Total Tangible Assets	4.115.000	2.410.000	3.148.000
Goodwill	-	-	-
Other Intangible Assets	-	-	-
Total Intangible Assets	-	-	-
Loans To Group	-	-	-
Other Loans	-	-	-
Miscellaneous Fixed Assets	23.880.000	23.418.000	22.433.000
Total Other Fixed Assets	23.880.000	23.418.000	22.433.000
TOTAL FIXED ASSETS	27.995.000	25.828.000	25.581.000
Work In Progress	-	80.000	983.000
Other Inventories	9.939.000	9.978.000	16.500.000
Total Inventories	9.939.000	10.058.000	17.483.000
Trade Receivables	176.061.000	235.868.000	204.243.000
Group Receivables	8.719.000	7.279.000	70.384.000
Miscellaneous Receivables	15.151.000	12.107.000	8.645.000
Total Receivables	199.931.000	255.254.000	283.272.000
Cash	4.497.000	2.976.000	2.551.000
Other Current Assets	-	-	-
TOTAL CURRENT ASSETS	214.367.000	268.288.000	303.306.000
TOTAL ASSETS	242.362.000	294.116.000	328.887.000
Trade Payables	1.452.000	3.064.000	4.533.000
Bank Liabilities	-	-	-
Group Payables	184.594.000	240.675.000	289.805.000
Miscellaneous Liabilities	21.142.000	19.130.000	16.843.000
TOTAL CURRENT LIABILITIES	207.188.000	262.869.000	311.181.000
Bank Liabilities Due After 1 Year	-	-	-
Other Loans Or Finance Due After 1 Year	-	-	-
Group Payables Due After 1 Year	-	-	-
Miscellaneous Liabilities Due After 1 Year	3.289.000	2.612.000	2.497.000
TOTAL LONG TERM LIABILITIES	3.289.000	2.612.000	2.497.000
TOTAL LIABILITIES	210.477.000	265.481.000	313.678.000
Called Up Share Capital	8.350.000	8.350.000	8.350.000
Share Premium	-	-	-
Revenue Reserves	21.865.000	18.615.000	23.245.000
Other Reserves	1.670.000	1.670.000	-16.386.000
TOTAL SHAREHOLDERS EQUITY	31.885.000	28.635.000	15.209.000

Other Financials

Contingent Liabilities	331.000	272.000	255.000
Working Capital	7.179.000	5.419.000	-7.875.000
Net Worth	31.885.000	28.635.000	15.209.000

Ratios

Pre-Tax Profit Margin	4.48 %	1.05 %	1.90 %
Return On Capital Employed	13.58 %	2.25 %	3.65 %
Return On Total Assets Employed	25.18 %	4.27 %	7.11 %
Return On Net Assets Employed	191.42 %	43.86 %	153.73 %
Sales/Net Working Capital	189.62	220.66	-156.54
Stock Turnover Ratio	0.73 %	0.84 %	1.42 %
Debtor Days	47.21	72.00	60.47
Creditor Days	0.39	0.94	1.34
Current Ratio	1.03	1.02	0.97
Liquidity Ratio/Acid Test	0.99	0.98	0.92
Current Debt Ratio	6.50	9.18	20.46
Gearing	0	0	0
Equity In Percentage	14.59 %	10.58 %	4.96 %
Total Debt Ratio	6.60	9.27	20.62

Share Capital Structure

Issued Share Capital

8.350.000  SEK

Shareholders

No shareholders data for this company.

Current Directors

Name	Appointment Date	Position
Pracki, Marek Jan	21/04/2015	Chairman of Board
Per Andreas Bryneson	21/04/2015	Substitute
Gunilla Pia Catharina Nilsson	21/04/2015	Actual Member of Board

Previous Directors

Name	Appointment Date	Position	Resignation Date
Per Andreas Bryneson	27/05/2008	Actual Member of Board	21/04/2015
Faust, Karsten Willi	30/07/2012	Actual Member of Board	21/04/2015
Vartan Vartanian	27/05/2008	Chairman of Board	21/04/2015
JØDAHL, OLE KRISTIAN	07/07/2008	Foreign Resident in the EEA	30/07/2012

Negative Information

Debt Balance
Currency	SEK
Number Of Private Claims	0
Balance Of Private Claims	0
Number Of Public Claims	0

Debt Balance

Balance Of Public Claims	0
Total Balance	0
Record of Non Payment
Number Of Distraint Or Repossessions	0
Number Of Public Claims	0
Number Of Private Claims	0
Number Of Applications	0
Number Of Revoked Applications	0

Latest Public Claim

No Latest Public Claim for this company.

Latest Private Claim

No Latest Private Claim for this company.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.66.79
UK Pound	1	Rs.101.37
Euro	1	Rs.73.46
SEK	1	Rs.7.84

Note : Above are approximate rates obtained from sources believed to be correct

INFORMATION DETAILS

Analysis Done by :	KIN
Report Prepared by :	NIT

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%)

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