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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

506787

Report Date :

30.04.2018

 

 

IDENTIFICATION DETAILS

 

Name :

PAJO BOLTE A/S

 

 

Registered Office :

Lupinvej 1, 9500 Hobro

 

 

Country :

Denmark

 

 

Financials (as on) :

April, 2017

 

 

Date of Incorporation :

15.04.1986

 

 

Com. Reg. No.:

10221994

 

 

Legal Form :

Limited company

 

 

Line of Business :

Subject is engaged in Wholesale of wood, products of wood and construction materials

 

 

No. of Employees :

20 - 49

 

 

RATING & COMMENTS

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

 

MIRA’s Rating :

A

 

Credit Rating

Explanation

Rating Comments

A

Acceptable Risk

Business dealings permissible with moderate risk of default

 

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)

Denmark

A2

A2

 

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

 

 

 

DENMARK - ECONOMIC OVERVIEW

 

This thoroughly modern market economy features advanced industry with world-leading firms in pharmaceuticals, maritime shipping, and renewable energy, and a high-tech agricultural sector. Danes enjoy a high standard of living, and the Danish economy is characterized by extensive government welfare measures and an equitable distribution of income. An aging population will be a long-term issue.

 

Denmark’s small open economy is highly dependent on foreign trade, and the government strongly supports trade liberalization. Denmark is a net exporter of food, oil, and gas and enjoys a comfortable balance of payments surplus, but depends on imports of raw materials for the manufacturing sector.

 

Denmark is a member of the EU but not the eurozone. Despite previously meeting the criteria to join the European Economic and Monetary Union, Denmark has negotiated an opt-out with the EU and is not required to adopt the euro.

 

Denmark is experiencing a modest economic expansion. The economy grew by 2.0% in 2016 and an estimated 2.3% in 2017. The expansion is expected to decline slightly in 2018. Unemployment stood at 5.8% in 2017, based on the national measure. The labor market was tight in 2017, with corporations experiencing some difficulty finding appropriately-skilled workers to fill billets. The Danish Government offers extensive programs to train unemployed persons to work in sectors that need qualified workers.

 

Denmark maintained a healthy budget surplus for many years up to 2008, but the global financial crisis swung the budget balance into deficit. The 2017 deficit was 0.6%. The government projects a lower deficit in 2018, and public debt (EMU debt) as a share of GDP is expected to decline. The Danish Government plans to address tax reform and increased defense spending in 2018.

 

Source : CIA

 

 

 

Company name and Summary

 

Business Name

PAJO BOLTE A/S

Country

DENMARK

Company Registration Number

10221994

Activity Code

467310

Activity Description

Wholesale of wood, products of wood and construction materials

Company Status

Normal (Active)

Latest Turnover Figure

-

Latest Shareholder Equity Figure

51,610,126 DKK

 

 

Basic Information

 

Business Name

PAJO BOLTE A/S

Registered Company Name

PAJO BOLTE A/S

Company Registration Number

10221994

Country

DENMARK

VAT Registration Number

10221994

Date of Company Registration

15/04/1986

Legal Form

Limited company

Company Status

Normal (Active)

Currency of this Report

DKK

Principal Activity Code

467310

Principal Activity Description

Wholesale of wood, products of wood and construction materials

Contact Address

Lupinvej 1, 9500 Hobro

Contact Telephone Number

-

-

 

 

Main Address

 

Address            Lupinvej 1, 9500 Hobro

Country DENMARK

Telephone         -

-

 

 

Activities

 

Activity Code    Activity Description

467310  Wholesale of wood, products of wood and construction materials

 

 

Email Addresses

 

No email addresses for this company

 

 

Previous Names

 

Previous Name  Date Changed from Previous Name

DIN BUTIK ApS 02/06/1998

 

 

Employee Information

 

Year

Number of Employees

2017

20 - 49

2016

20 - 49

2015

20 - 49

 

 

Real Estate

 

Value

N/A

 

 

Other Trading Names

 

No information for this company.

 

 

Advisors

 

Auditor Name    Beierholm

 

 

Events

 

No information for this company.

 

 

Profit and Loss

 

Financial Year

04/2017

04/2016

04/2015

Number of Weeks

52

52

52

Currency

DKK

DKK

DKK

Consolidated Accounts

No

No

No

Operating Costs

-

-17,571,779

-

Operating Profit

20,640,474

17,520,014

8,750,546

Wages & Salaries

13,939,346

12,932,507

11,700,088

Pension Costs

-

979,016

866,581

Depreciation

552,500

600,199

613,048

Financial Income

2,710,850

3,543,273

3,239,876

Financial Expenses

552,868

286,353

381,828

Profit before Tax

22,836,464

20,776,934

11,608,594

Tax

5,085,649

4,566,940

2,716,293

Profit after Tax

17,750,815

16,209,994

8,892,301

Dividends

-

-

-

Retained Profit

17,750,815

16,209,994

8,892,301

 

 

Balance Sheet

 

Financial Year

04/2017

04/2016

04/2015

Number of Weeks

52

52

52

Currency

DKK

DKK

DKK

Consolidated Accounts

No

No

No

Other Tangible Assets

1,370,813

1,656,646

1,474,957

Total Tangible Assets

1,370,813

1,656,646

1,474,957

Miscellaneous Fixed Assets

-

-

-

Total Other Fixed Assets

1,000

-

-

TOTAL FIXED ASSETS

1,371,813

1,656,646

1,474,957

Finished Goods

29,106,626

35,384,518

29,537,151

Other Inventories

320,718

469,446

246,744

Total Inventories

29,427,344

35,853,964

29,783,895

Trade Receivables

14,111,233

15,619,852

13,494,217

Miscellaneous Receivables

12,500

-

-

Total Receivables

14,123,733

15,619,852

13,494,217

Cash

21,033,611

11,160,640

8,199,381

Other Current Assets

265,686

255,151

1,737,413

TOTAL CURRENT ASSETS

64,850,374

62,889,607

53,214,906

TOTAL ASSETS

66,222,187

64,546,253

54,689,863

Trade Payables

2,603,751

3,499,692

3,334,659

Miscellaneous Liabilities

12,008,310

12,187,249

10,705,886

TOTAL CURRENT LIABILITIES

14,612,061

15,686,941

14,040,545

Miscellaneous Liabilities Due After 1 Year

-

-

-

TOTAL LONG TERM LIABILITIES

-

-

-

TOTAL LIABILITIES

14,612,061

15,686,941

14,040,545

Called Up Share Capital

800,000

800,000

800,000

Revenue Reserves

50,810,126

48,059,312

39,849,318

Other Reserves

-

-

-

TOTAL SHAREHOLDERS EQUITY

51,610,126

48,859,312

40,649,318

 

 

Other Financials

 

Financial Year

04/2017

04/2016

04/2015

Working Capital

50,238,313

47,202,666

39,174,361

Net Worth

51,610,126

48,859,312

40,649,318

 

 

Ratios

 

Financial Year

04/2017

04/2016

04/2015

Pre-Tax Profit Margin (%)

-

-

-

Return On Capital Employed (%)

44.25 %

42.52 %

28.56 %

 

Return On Total Assets Employed (%)

34.48 %

32.19 %

21.23 %

Return On Net Assets Employed (%)

44.25 %

42.52 %

28.56 %

Sales/Net Working Capital

-

-

-

Stock Turnover Ratio (%)

-

-

-

Debtor Days

-

-

-

Creditor Days

-

-

-

Current Ratio

4.44

4.01

3.79

Liquidity Ratio/Acid Test

2.42

1.72

1.67

Current Debt Ratio

0.28

0.32

0.35

Gearing (%)

-

-

-

Equity In Percentage (%)

77.93 %

75.70 %

74.33 %

Total Debt Ratio

0.28

0.32

0.35

 

 

Additional financials

 

Financial Year

04/2017

04/2016

04/2015

Cost Of Sales

-

-

-

Gross Profit

35,132,320

32,031,736

21,930,263

Change In Stock

-

-

-

Other Operating Income

-

-51,765

-

Audit Fees

-

-

-

Other Operating Expenses

-

-

-

Extraordinary Net Result

-

-

-

Investment Property

-

-

-

Contract Work In Progress

-

-

-

Revaluation Reserve

-

-

-

Minority Interests

-

-

-

Share Capital Structure

 

Nominal Share Capital    800,000 DKK

Issued Share Capital      800,000 DKK

 

 

Shareholders

 

Shareholder

% Shares Held

 

 

50

PAJ HOLDING ApS

LARS JOHANSEN HOLDING ApS

 

33.33

 

 

Current Directors

 

Name

Appointment Date

Position

BEIERHOLM, STATSAUTORISERET REVISIONSPARTNERSELSKAB

30/09/2010

REVISION

Poul Anker Johansen

02/06/1998

BESTYRELSE

Poul Anker Johansen

15/04/1986

DIREKTION

Poul Anker Johansen

20/12/2006

Reel ejer

Preben Stibjerg Kristensen

02/06/1998

BESTYRELSE

Per Emil Hasselbalch Stakemann

15/04/1986

STIFTERE

Lars Bundgård Johansen

01/09/2004

BESTYRELSE

Lars Bundgård Johansen

20/12/2006

Reel ejer

 

 

Previous Directors

 

Name

Appointment Date

Position

Resignation Date

Hanne Johansen

02/06/1998

BESTYRELSE

01/09/2004

 

 

 

Immediate Holding Parent

 

Immediate Holding Company Name

No information for this company.

 

 

Subsidiary Companies

 

Subsidiary Name           Number

Pajo Import ApS            37060194

 

 

Affiliates

 

Affiliate Name

Country

Number

Hobro IK A/S

29630992

 

 

 

Negative Information

 

No negative information for this company

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 66.78

UK Pound

1

INR 92.89

Euro

1

INR 80.74

DKK

1

INR 10.81

 

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

 

 

INFORMATION DETAILS

 

Analysis Done by :

PRA

 

 

Report Prepared by :

DNS

 

 

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.