MIRA INFORM REPORT

Report No. :	511993
Report Date :	31.05.2018

IDENTIFICATION DETAILS

Name :	TEXTILES RISARALDA S.A.
Registered Office :	Calle 8 No. 12-30 Dosquebradas Risaralda
Country :	Colombia
Financials (as on) :	31.12.2017
Date of Incorporation :	1972
Legal Form :	Simplified Share Company
Line of Business :	Subject is dedicated to the wholesale trade of textile products, made-up products for domestic use.
No. of Employees :	42

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 :	Satisfactory
Payment Behaviour :	No Complaints
Litigation :	--

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)
Colombia	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

COLOMBIA - ECONOMIC OVERVIEW

Colombia heavily depends on energy and mining exports, making it vulnerable to fluctuations in commodity prices. Colombia is Latin America’s fourth largest oil producer and the world’s fourth largest coal producer, third largest coffee exporter, and second largest cut flowers exporter. Colombia’s economic development is hampered by inadequate infrastructure, poverty, narcotrafficking, and an uncertain security situation, in addition to dependence on primary commodities.

Colombia’s economy slowed in 2017 because of falling global oil prices and lower oil production due to insurgent attacks on pipeline infrastructure. Although real GDP growth averaged 4.7% during the past decade, it fell to an estimated 1.8% in 2017. Declining oil prices also have contributed to reduced government revenues. In 2016, oil revenue dropped below 4% of the federal budget and likely remained below 4% in 2017. A Western credit rating agency in December 2017 downgraded Colombia’s sovereign credit rating to BBB-, because of weaker-than-expected growth and increasing external debt. Colombia has struggled to address local referendums against foreign investment, which have slowed its expansion, especially in the oil and mining sectors. Colombia’s FDI declined by 3% to $10.2 billion between January and September 2017.

Colombia has signed or is negotiating Free Trade Agreements (FTA) with more than a dozen countries; the US-Colombia FTA went into effect in May 2012. Colombia is a founding member of the Pacific Alliance—a regional trade block formed in 2012 by Chile, Colombia, Mexico, and Peru to promote regional trade and economic integration. The Colombian government took steps in 2017 to address several bilateral trade irritants with the US, including those on truck scrappage, distilled spirits, pharmaceuticals, ethanol imports, and labor rights. Colombia hopes to accede to the Organization for Economic Cooperation and Development.

Source : CIA

Statutory Information
Legal Name	TEXTILES RISARALDA S.A.
Trade Name	TEXTILES RISARALDA
ID	NIT
ID Details	891401416 - 4
Creation Date	1972
Incorporation Date	2008-10-23
Legal Address	CALLE 8 No. 12-30 DOSQUEBRADAS RISARALDA COLOMBIA
Operative Address	CALLE 8 No. 12-30 DOSQUEBRADAS RISARALDA COLOMBIA
Telephone	+57 4 5117111 / 57 6 3303550
Fax	+57 4 5117111 / 57 6 3303550
Legal Form	Simplified Share Company
E-Mail	disenorio3@une.net.co / contabilidad@risaltex.com.co
Registered In	COLOMBIA
Website	No website found
Contact	PULIDO ARANGO LUIS FERNANDO, Legal Representative
Staff	42 employees
Activity	4641 Wholesale trade of textile products, made-up products for domestic use

Banks
Name of Bank	Reported Amount
BANCOLOMBIA	NA
Description	The company does not make its banking data public.

History
History	The company was founded in 1972.
Key Developments	NA
Parent Company	NA

Principal Activity

General Description

TEXTILES RISARALDA S.A is dedicated to the wholesale trade of textile products, made-up products for domestic use.

Service/Product Description

Textiles Risaralda S.A. wholesales and distributes textiles, fabrics, yarn, and other textile products. The Company markets its products to retail fabric and sewing outlets throughout Colombia.

Textile Fibers:
Natural Fibers: Cotton, Linen
Synthetic Fibers: Nylon, Polyester, Spandex, Elastane, Viscose
Fabrics:
Knitted Fabrics: Jersey, Pique, Interlock, Jacquard, Shearing, Terry Towel, Unbrushed Fleece
Woven Fabrics: Drils, Sargas, Denim, Corduroy, Yarn Dyed

Sales

Wholesale and Retail

Operations Area

National

Imports From

Netherlands, Ecuador, Peru and China

Export To

No export records

Employees

42 employees

Payments With Suppliers

No complaints

Brands
Brand	Comments
There are not informed brands

Clients
Name of Client	Country	Comments
There are not informed clients

Comments

The company`s main clients include national companies and private customers.

Suppliers
Supplier Name	Country	Comments
Tootal Fabrics (Holland) B.V.	NETHERLANDS	NA
Vicunha Ecuador Sa	ECUADOR	NA
Pimanoba Sac	PERU	NA
Shaoxing Tiedan Trading Co Ltd	CHINA	NA

Comments

NA

Location
Headquarters	CALLE 8 No. 12-30 DOSQUEBRADAS RISARALDA COLOMBIA
Branches	CRA 61 # 49-10 Piso (Floor) 2 Medellín Colombia (Rio3) MEDELLIN PARA ANTIOQUIA Colombia Enrollment: 42100302 (Textiles el Puntazo) MEDELLIN PARA ANTIOQUIA Colombia Enrollment: 43093802 DOSQUEBRADAS Colombia Enrollment: 32522

Group Structure and Subsidiary Companies
Listed at the stock exchange	NO
Capital	COP $2,300,000
Shareholders (%)	This is a private company. The company does not disclose information on shareholders. Despite our long search, we could not confirm major holders.
Management	Pulido Arango Luis Fernando, Legal Representative Pulido Arango Andres Felipe, Legal Representative Arango Vda De Pulido Angela, Legal Representative Andres Felipe Pulido Arango, Alternate Legal Representative Guerrero Hoyos Sandra Liliana, Statuory Auditor Bellela Ospina Herrera, Alternate Statuory Auditor Julio Cesar Medina Zapata, Director Juan Manuel Olarte Mejia, Director Juan Alberto Pulido Arango, Director Hernando Nicolas Pulido Arango, Director Margarita Olarte Mejia, Director Diana Marcela Valdez, Accounting
Subsidiary Companies	NA
Related Companies	NA

Financial Information
General Description	WE ATTACH THE LATEST FINANCIAL STATEMENTS OF THE COMPANY.

Legal Filings
Lawsuits	NUMBER OF RADICATION 05088310300220150008200 CITY BEAUTIFUL KIND Declarative DEMANDING PARTIES TEXTILES RISARALDA SA DEMANDED PARTIES GUSTAVO ADOLFO ARCILA FERNANDEZ NUMBER OF RADICATION 201600325: 0ffcdf68e9 CITY PEREIRA KIND EXECUTIVE DEMANDING PARTIES TEXTILES RISARALDA SA DEMANDED PARTIES COMERCIALIAZADORA GALES RB SAS AND OTHER NUMBER OF RADICATION 201400101: 59d2967d17 CITY MEDELLIN KIND SINGULAR EXECUTIVE DEMANDING PARTIES TEXTILES RISARALDA SA DEMANDED PARTIES GUSTAVO ADOLFO ARCILA FERNANDEZ NUMBER OF RADICATION 201600325: 7ce2dff4fb CITY PEREIRA KIND EXECUTIVE DEMANDING PARTIES TEXTILES RISARALDA SA DEMANDED PARTIES ADHS NUMBER OF RADICATION 201600325: 50d1ede732 CITY PEREIRA KIND EXECUTIVE DEMANDING PARTIES TEXTILES RISARALDA SA DEMANDED PARTIES COMERCIALIZADORA GALES RB SAS
Trademarks	No records found
Patents Registered	No records found
Renewals	No records found

Summary
Summary	Founded in 1972, TEXTILES RISARALDA S.A is dedicated to the wholesale trade of textile products, made-up products for domestic use. The company has approximately 42 employees. It mainly imports from Netherlands, Ecuador, Peru and China, operating within national markets. This has been an ACTIVE company incorporated in COLOMBIA in 2008.

Risk Information
Debts	Controlled
Payments	No complaints
Cash Flow	Normal
State	ACTIVE

Interview
First Name	NA
Position	Operator
Comments	The person contacted confirmed legal name, trade name, address and telephone, but refused to provide further information if the name of the client was not provided to her. She did not tell us her name.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 67.63
UK Pound	1	INR 89.70
Euro	1	INR 78.20
COP	1	INR 0.023

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

INFORMATION DETAILS

Analysis Done by :	VIV
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.