MIRA INFORM REPORT

Report No. :	516957
Report Date :	25.06.2018

IDENTIFICATION DETAILS

Name :	KNOWLEDGECOTTON APPAREL AS
Registered Office :	Nystedvej 11, DK-7400 Herning,
Country :	Denmark
Financials (as on) :	30.06.2017
Date of Incorporation :	22.09.2004
Com. Reg. No.:	28115164
Legal Form :	Private Limited
Line of Business :	Sale and Design of Fashion Articles.
No. of Employees :	15 [2017]

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

Status :	Good
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

Country Name	Previous Rating (31.12.2017)	Current Rating (01.04.2018)
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

Summary

Company name	KNOWLEDGECOTTON APPAREL AS
Status	Active

Contact information

Company name	KNOWLEDGECOTTON APPAREL AS
Trading name	KNOWLEDGE COTTON APPAREL
Registered address	Nystedvej 11 Dk-7400 Herning,
Correspondence address	Nystedvej 11 Dk-7400 Herning,
Telephone number	+45 70209031
Website	www.knowledgecottonapparel.com

Registration

Registration number	28115164
VAT-number	DK28115164
Status	Active
Establishment date	22.09.2004
Legal form	Private Limited
Subscribed share capital	DKK 510.000

Activities

Sale and design of fashion articles.

Relations

Shareholders	SØREN STIG HOLDING ApS Koustrupparken 31 7400 Herning COTTON HOLDING ApS c/o Mads Mørup Engholm Søpark 122 7400 Herning WEISE BIRD HOLDING ApS Gilmosevænget 3 Tjørring 7400 Herning JØRGEN MØRUP HOLDING ApS. HERNING Nystedvej 11 7400 Herning Ultimate shareholders: Dorthe Mørup Blomstertoften 125 Tjørring 7400 Herning 1,25% Søren Stig Mørup Koustrupparken 31 Lind 7400 Herning 17,50% Mads Ortmann Mørup Engholm Søpark 122 7400 Herning 52,50% Mette Pallishøj Gilmosevænget 3 Tjørring 7400 Herning 27,50% Jørgen Stig Mørup Blomstertoften 125 7400 Herning Ejerandel: 1,25%
Structure	Subsidiaries/participations: None on record
Branches	No branches on record

Management

Name	Mads Ortmann Mørup Engholm Søpark 122 7400 Herning Søren Stig Mørup Koustrupparken 31 Lind 7400 Herning Mette Pallishøj Gilmosevænget 3 Tjørring 7400 Herning Jørgen Stig Mørup Blomstertoften 125 Tjørring 7400 Herning

Employees

Year	2017
	15

Bank

Unknown

Payments

No complaints on record.

Remarks

Auditor:

Krøyer Pedersen Statsautoriserede Revisorer I/S

Hostrupsvej 4

7500 Holstebro

Finances

KNOWLEDGECOTTON APPAREL A/S *** BALANCE SHEET ***

Corporate in danish crowns(x 1) danish crowns(x 1)

---30-06-2017--- ------30-06-2016---

Intangible assets 0 0

Tangible assets 1.450.836 1.672.583

Financial assets 0 0

Miscellaneous fixed assets 0 0

Total fixed assets 1.450.836 1.672.583

Stock 17.947.714 19.930.922

Receivables 14.994.968 16.296.762

Shares 0 0

Liquid assets 3.089.296 75.336

Miscellaneous current assets 0 0

Total current assets 36.031.978 36.303.020

Issued/paid up capital 510.000 510.000

Share premium 0 0

Revalution reserves 0 0

Legal/statutory reserves 0 0

Other reserves 17.740.678 10.935.903

Profit transferred 0 0

Losses 0 0

Shareholders equity 18.250.678 11.445.903

Minority interests 0 0

Special provision 0 0

Provisions 0 0

Long-term liabilities 194.791 93.725

Current liabilities 19.037.345 26.435.975

Miscellaneous liabilities 0 0

Total liabilities 37.482.814 37.975.603

----------------------------------------------------------------------------------------------------------------

KNOWLEDGECOTTON APPAREL A/S *** PROFIT & LOSS ACCOUNT ***

Corporate in danish crowns(x 1) danish crowns(x 1)

---30-06-2017--- ------30-06-2016---

Turnover Not known Not known

Changes in stock 0 0

Activated production 0 0

Other income 0 0

Total operating income 0 0

Turnover costs 0 0

Sales/management costs 0 0

Total expenses 0 0

Operating profit 9.620.789 9.620.789

Financial income 267.344 267.344

Financia charges 294.551 294.551

Balance financial P/L -27.207 -27.207

Net profit/loss 1] 9.593.582 9.593.582

Taxation 2.122.737 2.122.737

Share in P/L of subsidiaries 0 0

Net profit/loss 2] 7.470.845 7.470.845

Balance extraordinary P/L 0 0

Taxation 0 0

Extraordinary P/L 2] 0 0

Res. sub. companies 2] 0 0

Minority interests 0 0

Miscellaneous P/L 0 0

Net result 7.470.845 7.470.845

----------------------------------------------------------------------------------------------------------------

Legend : 1] = Before tax

2] = After tax

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KNOWLEDGECOTTON APPAREL A/S *** FINANCIAL RATIOS ***

-----2017----- -----2016-----

EQUITY %

Equity gearing 48,69 30,14

Equity/outside capital 94,9 43,14

LIQUIDITY

Current ratio 1,89 1,37

Acid test 0,95 0,62

RATES OF RETURN %

Total assets 25,59 25,26

Shareholders equity 52,57 83,82

Pre tax margin % 0 0

Turnover rate 0 0

(x 1) (x 1)

-------------------- --------------------

Working capital 16.994.633 9.867.045

Shareholders equity + Equalization acc. 18.250.678 11.445.903

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FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 67.77
UK Pound	1	INR 89.95
Euro	1	INR 78.85
DKK	1	INR 10.67

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

INFORMATION DETAILS

Analysis Done by :	PRI
Report Prepared by :	TPT

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)

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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.