MIRA INFORM REPORT

Report No. :	352044
Report Date :	30.11.2015

IDENTIFICATION DETAILS

Name :	INTERAL GRANITI D.O.O.
Registered Office :	Planina 3, 4000 Kranj
Country :	Slovenia
Financials (as on) :	31.12.2014
Date of Incorporation :	10.03.2009
Com. Reg. No.:	3495132
Legal Form :	Limited liability company
Line of Business :	Non-specialized wholesale trade. [Note: We tried to confirm / obtain the detailed activity but the same is not available from any sources]
No. of Employee :	1

RATING & COMMENTS

MIRA’s Rating :

B

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Small company
Payment Behaviour :	Slow but correct
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)
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, despite having suffered a protracted recession in 2008-2009 in the wake of the global financial crisis. 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. Export-led growth fueled by demand in larger European markets pushed GDP growth to 2.6% in 2014, while stubbornly-high unemployment fell slightly to 13%. PM CERAR’s government took office in September 2014, pledging to press ahead with commitments to privatize a select group of state-run companies, rationalize public spending, and further stabilize the banking sector.

Source : CIA

Company name and address

INTERAL GRANITI D.O.O.

Planina 3,

4000 Kranj 

Phone: 031 761053

Company summary

Legal form	Ltd - Limited liability company
Established on	10/03/2009 - Ltd - Limited liability company
	last entry on 6.5.2011 on 10.3.2009 transfer of the company POSREDNIŠTVO IN TRGOVINA ALEKSANDER MOŽINA S.P. on the company INTERAL GRANITI d.o.o. on 10.11.2010 change of company name INTERAL d.o.o. into INTERAL GRANITI d.o.o.
Registered on	10/03/2009, Kranj, Registration number: Tax number: SI42547482 Company number: 3495132
Registered capital	10/03/2009			EUR	7.500,00
	06/05/2011			EUR	32.500,00
Owner	Aleksander Možina Reboljeva ulica 16, 1000 Ljubljana			EUR	32.500,00
Manager	Aleksander Možina Reboljeva ulica 16, 1000 Ljubljana Director
General data	company activity: Non-specialized wholesale trade Headquarters and business premises are located on the address above
	Main activity: Non-specialized wholesale trade (NACE 2)
	Former name INTERAL d.o.o. Beginning of validity: 10.03.2009 End of validity: 10.11.2010
	Residence address: Planina 3, 4000 Kranj  Phone: 031 761053
Other activities
Employees	2011	2 employees
	2012	1 employees
	2013	1 employees
	2014	1 employees
Annual turnover	2011		Enterprise turnover	EUR	303.494,-
	2012		Enterprise turnover	EUR	302.757,-
	2013		Enterprise turnover	EUR	346.189,-
	2014		Enterprise turnover	EUR	261.065,-
Remarks	full name of company: INTERAL GRANITI družba za posredovanje in trgovino d.o.o. Mr. Aleksander Možina is also a manager in the company EUROPA GRANI MARMO d.o.o.
Bank relations	SKB BANKA d.d. LJUBLJANA: Central address: SI Ajdovščina 4, 1513 Ljubljana Account number: SI56 031261000771882
Terms of payment	Mostly within agrees terms, but partly also delayed
Business connection	Business connection appear premissable
A. The enclosed balance of 2014 is originated from official source, it is not authenticated by the auditor. (31.12.2014 - 1 EUR) B. The enclosed balance of 2013 is originated from official source, it is not authenticated by the auditor. (31.12.2013 - 1 EUR) C. The enclosed balance of 2012 is originated from official source, it is not authenticated by the auditor. (31.12.2012 - 1 EUR) D. The enclosed balance of 2011 is originated from official source, it is not authenticated by the auditor. (31.12.2011 - 1 EUR)

Financial statement

balance		A 31.12.2014	B 31.12.2013			C 31.12.2012		D 31.12.2011
ASSETS (AKTIVA)		327.061	368.743			308.488		318.932
LONG-TERM ASSETS		1.307	2.295			2.652		2.420
Intangible assets and long-term deferred costs and accrued revenues		0	0			0		0
Intangible assets		0	0			0		0
Long-term deferred costs and accrued revenues		0	0			0		0
Tangible fixed assets		1.307	2.295			2.652		2.420
Long-term financial investments and Real estate investments
Investment property		0	0			0		0
Long-term financial investments		0	0			0		0
Long-term operating receivables		0	0			0		0
Deferred receivables for taxes		0	0			0		0
SHORT-TERM ASSETS		325.754	366.448			305.816		316.462
Assets (group for estrange) for sell		0	0			0		0
Inventories		17.742	110.744			131.619		139.754
Short-term financial investments		5.000	0			5.517		0
Short-term operating receivables		299.015	242.815			168.663		176.554
Cash assets		3.997	12.889			17		154
Short-term deferred costs and accrued revenues		0	0			20		50
Off-balance sheet items		0	0			0		0
LIABILITIES		327.061	368.743			308.488		318.932
CAPITAL		81.869	134.698			43.784		38.917
Called-up capital		32.500	32.500			32.500		32.500
Basic (subscribed) capital		32.500	32.500			32.500		32.500
Non called-up capital (deductive item)		0	0			0		0
Capital reserves		0	0			0		0
Reserves from profit		3.250	3.250			1.209		709
Surplus from revaluation		0	0			0		0
Retained net		18.175	10.076			5.708		3.964
Net business result for the business year		27.944	88.872			4.367		1.744
PROVISIONS AND LONG-TERM ACCRUED COSTS AND DEFERRED REVENUES		0	0			0		0
FINANCIAL AND BUSINESS LIABILITIES
LONG-TERM LIABILITIES		19.790	27.397			27.297		19.819
Long-term financial liabilities		19.790	27.397			27.297		19.819
Long-term operating liabilities		0	0			0		0
Deferred liabilities for taxes		0	0			0		0
SHORT-TERM LIABILITIES		225.402	206.648			237.407		259.196
Liabilities, included in groups for estrange		0	0			0		0
Short-term financial liabilities		5.000	5.870			12.559		13.823
Short-term operating liabilities		220.402	200.778			224.848		245.373
SHORT-TERM ACCRUED COSTS AND DEFERRED REVENUES		0	0			0		1.000
Off-balance sheet items		0	0			0		0
A. The enclosed profit and loss account of 2014 is originated from official source, it is not authenticated by the auditor. (31.12.2014 - 1 EUR) B. 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) C. The enclosed profit and loss account of 2012 is originated from official source, it is not authenticated by the auditor. (31.12.2012 - 1 EUR) D. The enclosed profit and loss account of 2011 is originated from official source, it is not authenticated by the auditor. (31.12.2011 - 1 EUR)
profit and loss account		A 31.12.2014	B 31.12.2013			C 31.12.2012		D 31.12.2011
Net sales		235.803	342.345			288.155		283.278
Changes in the value of inventories of products and work-in-process		0	0			0		0
Capitalised own products and own services		0	0			0		0
Other operating revenues (with subventions, grants,...)		1.662	485			1.000		4.668
GROSS OPERATING YIELD
Cost of goods, material and services		204.874	222.009			274.122		264.270
Purchase value of goods and materials sold and cost of material and cost of material used		193.014	205.379			237.452		247.455
Cost of services		11.860	16.630			36.670		16.815
Labour cost		8.331	8.483			15.107		21.610
Cost of wages		6.556	5.881			9.748		14.531
Cost of pension insurance		580	240			863		1.286
Cost of other social insurance		475	707			707		1.054
Other labour cost		720	1.655			3.789		4.739
Write-offs		12.370	816			1.060		2.619
Depreciation		989	816			1.060		2.619
Revaluation operating expenses for non-tangible assets and tangible fixed assets		0	0			0		0
Revaluation operating expenses for current assets		11.381	0			0		0
Other operating expenses		0	4			27		8
OPERATING REVENUES
OPERATING EXPENSES
OPERATING RESULT
EBIT
Financial income from investments in other enterprises		0	0			0		0
Financial income from loans		0	0			0		0
Financial income from operating receivables		3.422	3.356			13.602		12.548
Financial expenses from depreciation and write-offs of financial investments		0	0			0		0
Financial expenses from financial liabilities		422	610			1.508		1.299
Financial expenses from operating liabilities		7.120	4.767			5.104		10.684
Financial income
Financial expenses
Other revenues		20.178	2			0		3.000
Other expenses		4	3			5		274
Total revenues
Total costs
Total business result
Tax on profit		0	18.583			957		486
Deferred taxs		0	0			0		0
Net business result for the accounting period		27.944	90.913			4.867		2.244
Ratios				2011	2012		2013		2014
	Equity ratio			0,1	0,11		0,09		0,1
	Cleared equity ratio			0,1	0,11		0,09		0,1
	Current liquidity			1,22	1,29		1,77		1,45
	Quick liquidity			0,68	0,73		1,24		1,37
	Working capital			57266	68409		159800		100352
	Gearing			9,81	9,49		11,35		10,06
	Cleared gearing			1,04	1,23		1,02		0,76
	Profitability			n/a	n/a		n/a		n/a
	Operating profitability			n/a	n/a		n/a		n/a
	Stock days			n/a	n/a		n/a		n/a
	Debtor days			n/a	n/a		n/a		n/a
	Supplier days			n/a	n/a		n/a		n/a

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.66.75
UK Pound	1	Rs.100.68
Euro	1	Rs.70.88
EUR	1	Rs.70.77

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

INFORMATION DETAILS

Analysis Done by :	DIV
Report Prepared by :	ANK

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.