MIRA INFORM REPORT

Report No. :	505473
Report Date :	28.04.2018

IDENTIFICATION DETAILS

Name :	SPLENDOR PLANT AKTIEBOLAG
Registered Office :	Norra Kustvägen 469 Svanshall, 263 92 JONSTORP, SKÅNE
Country :	Sweden
Financials (as on) :	December 2017
Date of Incorporation :	14.03.1991
Com. Reg. No.:	5564224060
Legal Form :	Limited liability company
Line of Business :	· Plant propagation in greenhouses · Growing of flowers and ornamental plants in greenhouses · Plant propagation in the open
No. of Employees :	75

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

A

Credit Rating	Explanation	Rating Comments
A	Acceptable Risk	Business dealings permissible with moderate risk of default

Maximum Credit Limit :	SEK 3,650,000
Status :	Good
Payment Behaviour :	Regular
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

Country Name	Previous Rating (30.09.2017)	Current Rating (31.12.2017)
Sweden

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderately Low Risk	B1
Moderate Risk	B2
Moderately High Risk	C1
High Risk	C2
Very High Risk	D

SWEDEN - ECONOMIC OVERVIEW

Sweden’s small, open, and competitive economy has been thriving and Sweden has achieved an enviable standard of living with its combination of free-market capitalism and extensive welfare benefits. Sweden remains outside the euro zone largely out of concern that joining the European Economic and Monetary Union would diminish the country’s sovereignty over its welfare system.

Timber, hydropower, and iron ore constitute the resource base of a manufacturing economy that relies heavily on foreign trade. Exports, including engines and other machines, motor vehicles, and telecommunications equipment, account for more than 44% of GDP. Sweden enjoys a current account surplus of about 5% of GDP, which is one of the highest margins in Europe.

GDP grew an estimated 3.3% in 2016 and 2017 driven largely by investment in the construction sector. Economic growth is expected to ease slightly in the coming years as this investment subsides. Global economic growth boosted exports of Swedish manufactures further, helping drive domestic economic growth in 2017. The central bank is keeping an eye on deflationary pressures and is expected to maintain its expansionary monetary policy in 2018. Swedish prices and wages have grown only slightly over the past few years, helping to support the country’s competitiveness.

In the short and medium term Sweden’s economic challenges include keeping rising house prices in check and successfully integrating migrants into the labor market.

Source : CIA

Company Summary
Business Name	Splendor Plant Aktiebolag
Country	SWEDEN
Company Registration Number	5564224060
Activity Code	01301
Activity Description	Plant propagation in greenhouses
Company Status	Active (Active)
Latest Turnover Figure	81,101,000 SEK
Latest Shareholder Equity Figure	17,703,000 SEK
Credit Limit	3,650,000 SEK

Basic Information
Business Name	Splendor Plant Aktiebolag
Registered Company Name	Splendor Plant Aktiebolag
Company Registration Number	5564224060
Country	SWEDEN
VAT Registration Number	SE556422406001
Date of Company Registration	14/03/1991
Legal Form	Limited liability company
Company Status	Active (Active)
Currency of this Report	SEK
Principal Activity Code	No code
Principal Activity Description	-
Contact Address	Norra Kustvägen 469 Svanshall,  263 92 JONSTORP,  SKÅNE
Contact Telephone Number	-

Main Address
Address	Norra Kustvägen 469 Svanshall, 263 92 JONSTORP, SKÅNE
Country	SWEDEN
Telephone	-

Activities
Activity Code	Activity Description
01301	Plant propagation in greenhouses
01191	Growing of flowers and ornamental plants in greenhouses
01302	Plant propagation in the open

Email Addresses

info@splendorplant.se

Web Pages

www.splendorplant.se

Employee Information
Year	Number of Employees
2017	75
2016	71
2015	69
2014	68
2013	62

Advisors

Auditor Name Per Richard Kjellander

Tax Registrations
Registered for FTax	Yes
Registered for VAT	Yes
Registered for Employee Tax	Yes

Certificates

No certificate information for this company

Industry Comparison
Activity Code	01301
Activity Description	Plant propagation in greenhouses

Event History
Event Date	Event Description
17/04/2018	Annual account, new
13/04/2018	Annual report (PDF), new
03/04/2017	Annual account, new
27/03/2017	Annual report (PDF), new
06/04/2016	Annual account, new
01/04/2016	Annual report (PDF), new
04/06/2015	Annual account, new
28/05/2015	Annual report (PDF), new
28/03/2014	Annual account, new
24/03/2014	Annual report (PDF), new
05/06/2013	Annual account, new
30/05/2013	Annual report (PDF), new

Status History

No status history events for this company

Profit and Loss
Financial Year	12/2017	12/2016	12/2015
Number of Weeks	52	52	52
Currency	SEK	SEK	SEK
Consolidated Accounts	No	No	No
Revenue	81,479,000	76,681,000	70,934,000
Operating Costs	77,286,000	72,273,000	68,814,000
Operating Profit	4,193,000	4,408,000	2,120,000
Wages & Salaries	30,928,000	29,589,000	28,205,000
Depreciation	2,759,000	2,527,000	2,734,000
Financial Income	124,000	53,000	156,000
Financial Expenses	1,153,000	1,175,000	1,185,000
Extraordinary Income	-	-	-
Extraordinary Costs	-	-	-
Profit before Tax	3,164,000	3,286,000	1,091,000
Tax	589,000	579,000	249,000
Profit after Tax	2,575,000	2,707,000	842,000
Minority Interests	-	-	-
Other Appropriations	-645,000	-760,000	-95,000
Retained Profit	1,930,000	1,947,000	747,000
Balance Sheet
Financial Year	12/2017	12/2016	12/2015
Number of Weeks	52	52	52
Currency	SEK	SEK	SEK
Consolidated Accounts	No	No	No
Land & Buildings	21,777,000	22,058,000	21,327,000
Plant & Machinery	3,770,000	3,251,000	3,388,000
Other Tangible Assets	118,000	709,000	150,000
Total Tangible Assets	25,665,000	26,018,000	24,865,000
Goodwill	-	-	-
Other Intangible Assets	3,002,000	2,200,000	2,624,000
Total Intangible Assets	3,002,000	2,200,000	2,624,000
Loans To Group	-	-	-
Other Loans	-	-	-
Miscellaneous Fixed Assets	25,000	25,000	25,000
Total Other Fixed Assets	25,000	25,000	25,000
TOTAL FIXED ASSETS	28,692,000	28,243,000	27,514,000
Work In Progress	-	-	-
Other Inventories	18,883,000	18,174,000	17,526,000
Total Inventories	18,883,000	18,174,000	17,526,000
Trade Receivables	6,013,000	4,715,000	3,743,000
Group Receivables	-	-	-
Miscellaneous Receivables	654,000	656,000	469,000
Total Receivables	6,667,000	5,371,000	4,212,000
Cash	82,000	224,000	130,000
Other Current Assets	-	-	-
TOTAL CURRENT ASSETS	25,632,000	23,770,000	21,868,000
TOTAL ASSETS	54,324,000	52,013,000	49,382,000
Trade Payables	4,629,000	4,267,000	3,862,000
Bank Liabilities	1,590,000	1,484,000	1,991,000
Group Payables	-	-	-
Miscellaneous Liabilities	7,827,000	7,581,000	7,870,000
TOTAL CURRENT LIABILITIES	14,046,000	13,332,000	13,723,000
Bank Liabilities Due After 1 Year	15,705,000	16,383,000	16,067,000
Other Loans Or Finance Due After 1 Year	-	-	-
Group Payables Due After 1 Year	-	-	-
Miscellaneous Liabilities Due After 1 Year	6,870,000	6,225,000	5,465,000
TOTAL LONG TERM LIABILITIES	22,575,000	22,608,000	21,532,000
TOTAL LIABILITIES	36,621,000	35,940,000	35,255,000
Called Up Share Capital	1,051,000	1,051,000	1,051,000
Share Premium	-	-	-
Revenue Reserves	16,442,000	14,812,000	12,866,000
Other Reserves	210,000	210,000	210,000
TOTAL SHAREHOLDERS EQUITY	17,703,000	16,073,000	14,127,000
Other Financials
Financial Year	12/2017	12/2016	12/2015
Contingent Liabilities	-	-	-
Working Capital	11,586,000	10,438,000	8,145,000
Net Worth	14,701,000	13,873,000	11,503,000

Ratios
Financial Year	12/2017	12/2016	12/2015
Pre-Tax Profit Margin (%)	3.88 %	4.29 %	1.54 %
Return On Capital Employed (%)	4.63 %	5.03 %	1.73 %
Return On Total Assets Employed (%)	5.82 %	6.32 %	2.21 %
Return On Net Assets Employed (%)	17.87 %	20.44 %	7.72 %
Sales/Net Working Capital	7.03	7.35	8.71
Stock Turnover Ratio (%)	23.18 %	23.70 %	24.71 %
Debtor Days	26.94	22.44	19.26
Creditor Days	20.74	20.31	19.87
Current Ratio	1.82	1.78	1.59
Liquidity Ratio/Acid Test	0.48	0.42	0.32
Current Debt Ratio	0.79	0.83	0.97
Gearing (%)	97.70 %	111.16 %	127.83 %
Equity In Percentage (%)	34.51 %	32.28 %	30.23 %
Total Debt Ratio	2.07	2.24	2.50

Additional Financials Items
Year End Date	2017	2016	2015
Audited Accounts	Yes	Yes	Yes
Auditor Comments	-	-	-

Share Capital Structure

Issued Share Capital 1,051,000 SEK

Shareholders

No shareholders data for this company.

Current Directors
Name	Appointment Date	Position
Nils Andersen	14/03/1991	Actual Member of Board
Bo Andersen	14/03/1991	Actual Member of Board
Sven Andersen	14/03/1991	Actual Member of Board

Group Structure

No group structure for this company

Negative Information
Debt Balance
No Debt Balance for this company. 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 Latest Public Claim	0
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	INR 67.78
UK Pound	1	INR 92.89
Euro	1	INR 80.74
SEK	1	INR 7.69

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

INFORMATION DETAILS

Analysis Done by :	PRA
Report Prepared by :	KET

RATING EXPLANATIONS

Credit Rating	Explanation	Rating Comments
A++	Minimum Risk	Business dealings permissible with minimum risk of default
A+	Low Risk	Business dealings permissible with low risk of default
A	Acceptable Risk	Business dealings permissible with moderate risk of default
B	Medium Risk	Business dealings permissible on a regular monitoring basis
C	Medium High Risk	Business dealings permissible preferably on secured basis
D	High Risk	Business dealing not recommended or on secured terms only
NB	New Business	No recommendation can be done due to business in infancy stage
NT	No Trace	No recommendation can be done as the business is not traceable

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

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 are as follows:

· Financial condition covering various ratios

· Company background and operations size

· Promoters / Management background

· Payment record

· Litigation against the subject

· Industry scenario / competitor analysis

· Supplier / Customer / Banker review (wherever available)

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.