MIRA INFORM REPORT

Report No. :	508738
Report Date :	15.05.2018

IDENTIFICATION DETAILS

Name :	NORDCELL & CO AB
Registered Office :	Tullvaktsvagen 2,115 56 Stockholm, Stockholm
Country :	Sweden
Financials (as on) :	December 2016
Date of Incorporation :	03.11.1993
Com. Reg. No.:	5564750874
Legal Form :	Limited liability company
Line of Business :	Wholesale of agricultural machinery, equipment and supplies
No. of Employees :	Not available

RATING & COMMENTS

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

MIRA’s Rating :

C

Credit Rating	Explanation	Rating Comments
C	Medium High Risk	Business dealings permissible preferably on secured basis

Status :	Moderate
Payment Behaviour :	Slow
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	A1	A1

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 name

NORDCELL & CO AB

Company Summary

Business Name	Nordcell & Co AB
Country	SWEDEN
Company Registration Number	5564750874
Activity Code	46610
Activity Description	Wholesale of agricultural machinery, equipment and supplies
Company Status	Active (Active)
Latest Shareholder Equity Figure	100,000 SEK

Basic Information

Business Name	Nordcell & Co AB
Registered Company Name	Nordcell & Co AB
Company Registration Number	5564750874
Country	SWEDEN
VAT Registration Number	SE556475087401
Date of Company Registration	03/11/1993
Legal Form	Limited liability company
Company Status	Active (Active)
Currency of this Report	SEK
Principal Activity Code	No code
Contact Address	Tullvaktsvagen 2,115 56 STOCKHOLM, STOCKHOLM

Main Address

Address	Tullvaktsvagen 2,115 56 STOCKHOLM, STOCKHOLM
Country	SWEDEN
Telephone	-

Activities

Activity Code	Activity Description
46610	Wholesale of agricultural machinery, equipment and supplies

Email Addresses

No email addresses for this company

Employee Information

Year	Number of Employees
2016	0
2015	0
2014	0
2013	0
2012	0

Advisors

Auditor Name

Anna Maria Andersson

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	46610
Activity Description	Wholesale of agricultural machinery, equipment and supplies

Event History

Event Date	Event Description
30/05/2017	Group Structure Change
03/05/2017	Share capital, new issue
03/05/2017	Company representatives, changed
03/05/2017	Authorised signatories amended or new/amended vacancy text
15/03/2017	PAYE registered
07/02/2017	Address, changed
06/02/2017	Group Structure Change
05/02/2017	Company name, changed (old name: Nordcell & Company AB)
03/02/2017	Annual account, new
02/02/2017	Employment tax, changed
30/01/2017	Annual report, new
20/12/2016	Address, changed
20/12/2016	Company name, changed (old name: Fibres Finance Scandinavia AB)
23/05/2016	Group Structure Change
18/05/2016	Group Structure Change
16/05/2016	Limit, decrease
16/05/2016	Annual account, new
10/05/2016	Annual report, new
05/05/2016	Authorised signatories amended or new/amended vacancy text
05/05/2016	Company representatives, changed
26/06/2015	Company business activity, changed
26/06/2015	Company name, changed (old name: Irminsul Aktiebolag)
15/05/2015	Group Structure Change
09/04/2015	Group Structure Change
02/04/2015	Annual account, new
02/04/2015	Limit, decrease
27/03/2015	Annual report, new
15/01/2015	Group Structure Change
30/06/2014	Group Structure Change
12/06/2014	Group Structure Change
03/06/2014	Limit, increase
03/06/2014	Annual account, new
28/05/2014	Annual report, new
25/05/2013	Address, changed
21/05/2013	Authorised signatories amended or new/amended vacancy text
21/05/2013	Company representatives, changed

Status History

No status history events for this company

FINANCIALS

Profit and Loss
Financial Year	12/2016	12/2015	12/2014
Number of Weeks	52	52	52
Currency	SEK	SEK	SEK
Consolidated Accounts	No	No	No
Revenue	-	-	24,000
Operating Costs	25,000	13,000	28,000
Operating Profit	-25,000	-13,000	-4,000
Wages & Salaries	-	-	-
Depreciation	-	-	-
Financial Income	-	-	1,000
Financial Expenses	-	-	-
Extraordinary Income	-	-	-
Extraordinary Costs	-	-	-
Profit before Tax	-25,000	-13,000	-4,000
Tax	-	2,000	-
Profit after Tax	-25,000	-15,000	-4,000
Minority Interests	-	-	-
Other Appropriations	5,000	15,000	5,000
Retained Profit	-20,000	1,000	1,000
Balance Sheet
Financial Year	12/2016	12/2015	12/2014
Number of Weeks	52	52	52
Currency	SEK	SEK	SEK
Consolidated Accounts	No	No	No
Land & Buildings	-	-	-
Plant & Machinery	-	-	-
Other Tangible Assets	-	-	-
Total Tangible Assets	-	-	-
Goodwill	-	-	-
Other Intangible Assets	-	-	-
Total Intangible Assets	-	-	-
Loans To Group	-	155,000	155,000
Other Loans	-	-	-
Miscellaneous Fixed Assets	-	-	-
Total Other Fixed Assets	-	155,000	155,000
TOTAL FIXED ASSETS	-	155,000	155,000
Work In Progress	-	-	-
Other Inventories	-	-	-
Total Inventories	-	-	-
Trade Receivables	-	-	-
Group Receivables	-	-	-
Miscellaneous Receivables	6,000	5,000	-
Total Receivables	6,000	5,000	-
Cash	132,000	19,000	36,000
Other Current Assets	-	-	-
TOTAL CURRENT ASSETS	138,000	24,000	36,000
TOTAL ASSETS	138,000	179,000	191,000
Trade Payables	18,000	-	-
Bank Liabilities	-	-	-
Group Payables	-	-	-
Miscellaneous Liabilities	20,000	5,000	2,000
TOTAL CURRENT LIABILITIES	38,000	5,000	2,000
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	-	5,000	20,000
TOTAL LONG TERM LIABILITIES	-	5,000	20,000
TOTAL LIABILITIES	38,000	10,000	22,000
Called Up Share Capital	100,000	100,000	100,000
Share Premium	-	-	-
Revenue Reserves	-20,000	49,000	49,000
Other Reserves	20,000	20,000	20,000
TOTAL SHAREHOLDERS EQUITY	100,000	169,000	169,000
Other Financials
Financial Year	12/2016	12/2015	12/2014
Contingent Liabilities	-	-	-
Working Capital	100,000	19,000	34,000
Net Worth	100,000	169,000	169,000
Ratios
Financial Year	12/2016	12/2015	12/2014
Pre-Tax Profit Margin (%)	-	-	-16.67 %
Return On Capital Employed (%)	-14.20 %	-7.07 %	-2.07 %
Return On Total Assets Employed (%)	-18.12 %	-7.26 %	-2.09 %
Return On Net Assets Employed (%)	-25.00 %	-7.69 %	-2.37 %
Sales/Net Working Capital	-	-	0.71
Stock Turnover Ratio (%)	-	-	-
Debtor Days	-	-	-
Creditor Days	-	-	-
Current Ratio	3.63	4.80	18.00
Liquidity Ratio/Acid Test	3.63	4.80	18.00
Current Debt Ratio	0.38	0.03	0.01
Gearing (%)	-	-	-
Equity In Percentage (%)	72.46 %	704.17 %	469.44 %
Total Debt Ratio	0.38	0.06	0.13

Additional Financials Items

Year End Date	2016	2015	2014
Audited Accounts	Yes	Yes	Yes
Auditor Comments	Bolaget har varit vilande under verksamhetsaret

Share Capital Structure

Issued Share Capital

1,000,000 SEK

Shareholders

No shareholders data for this company.

Current Directors

Name	Appointment Date	Position
Christer Rene Bengtsson	02/05/2017	Actual Member of Board
Bo Marcus Siljo	02/05/2017	Actual Member of Board
Johan Christian Jonsson Fagring	02/05/2017	Substitute

Previous Directors

Name	Appointment Date	Position	Resignation Date
Johanna Elisabeth Runer	04/05/2016	Actual Member of Board	02/05/2017
Stephanie Mannerfelt	20/05/2013	Substitute	02/05/2017
Fredrik Tavitian	20/05/2013	Actual Member of Board	04/05/2016
Christer René Bengtsson	03/11/1993	Actual Member of Board	20/05/2013

Group Structure

	Company Name	Number	Status	Latest Annual
				Accounts
0	Nordcell AB	5564469368		31/12/2016
1	Nordcell & Co AB	5564750874		31/12/2016

Negative Information

Debt Balance

No Debt Balance for this company.

Record of Non Payment

Debt Balance
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	INR 67.32
UK Pound	1	INR 91.25
Euro	1	INR 80.51
SEK	1	INR 7.80

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

INFORMATION DETAILS

Analysis Done by :	VAR
Report Prepared by :	SYL

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.