MIRA INFORM REPORT
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Report Date : |
09.08.2011 |
IDENTIFICATION DETAILS
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Name : |
MARLIN CHEMICALS LTD. |
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Registered Office : |
Hearts Of Oak House, 4 Pembroke Road, Sevenoaks, TN13 1XR |
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Country : |
United Kingdom |
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Financials (as on) : |
30.06.2010 |
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Date of Incorporation : |
01.06.1982 |
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Com. Reg. No.: |
01640117 |
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Legal Form : |
Private Parent Company |
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Line of Business : |
Importer, Exporter and Distributor of industrial chemicals and raw
materials |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment
Behaviour : |
No Complaints |
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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 – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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United Kingdom |
a1 |
a1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company name & address
Marlin Chemicals Ltd.
Marle Place
Marle Place Road
Brenchley
Tonbridge, TN12 7HS
United Kingdom
Tel: 01892 724077
Fax: 01892 724099
Synthesis
Employees: 14
Company Type: Private Parent
Corporate Family: 5
Companies
Quoted Status: Non-quoted Company
Incorporation Date:
01-Jun-1982
Auditor: Creasey Son And Wickenden
Financials in: USD
(Millions)
Fiscal Year End:
30-Jun-2010
Reporting Currency: British
Pound Sterling
Annual Sales: 19.4
1
Net Income: 0.2
Total Assets: 9.3
Business Description
Founded in 1982,
Marlin Chemicals Ltd. is an importer, exporter and distributor of industrial
chemicals and raw materials. The company offers a range of polymerised rosins
and acid, alkyd, PVC and hydrogenated hydrocarbon resins. It also stocks and
sells beeswax, carbon black, caustic soda and polyethylene wax. The company
supplies chemical solvents, zinc resinates and tung oil. It supplies its
products to the manufacturers of adhesives, sealants, paints, surface coatings,
varnishes, oils, lubricants, disinfectants, and plastic and healthcare
products. The company operates and maintains several warehouses and a fleet of
vehicles to provide product storage and delivery services. In addition, it
serves the rubber and cosmetics industries. The company offers chemicals for
the production of candles, inks, emulsifiers, chewing gums, soldering fluxes
and industrial cleaning products.
Industry
Industry Chemical Manufacturing
ANZSIC 2006: 3323 - Industrial
and Agricultural Chemical Product Wholesaling
NACE 2002: 5155 - Wholesale
of chemical products
NAICS 2002: 4246 - Chemical
and Allied Products Merchant Wholesalers
UK SIC 2003: 5155 - Wholesale
of chemical products
US SIC 1987: 516 - Chemicals
and Allied Products
Key Executives
|
Name |
Title |
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Martin Blue Macintosh Williams |
Secretary |
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D. Reynolds |
Director |
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Maria Lourdes Diana White |
Director |
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Gerald Barrington Macintosh Williams |
Director |
Financial Summary
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Registered No.(UK): 01640117
1 - Profit & Loss Item Exchange Rate: USD 1 = GBP 0.6336074
2 - Balance Sheet Item Exchange Rate: USD 1 = GBP 0.6684045
Corporate Overview
Location
Marle Place
Marle Place Road
Brenchley
Tonbridge, TN12 7HS
Kent County
United Kingdom
Tel: 01892 724077
Fax: 01892 724099
Sales GBP(mil): 12.3
Assets GBP(mil): 6.2
Employees: 14
Fiscal Year End: 30-Jun-2010
Industry: Chemical Manufacturing
Registered
Address:
Hearts Of Oak House
4 Pembroke Road
Sevenoaks, TN13 1XR
United Kingdom
Incorporation Date: 01-Jun-1982
Company Type: Private Parent
Quoted Status: Not Quoted
Registered No.(UK): 01640117
Director: D. Reynolds
Contents
· Industry Codes
· Business Description
· Financial Data
· Key Corporate Relationships
Industry Codes
ANZSIC 2006 Codes:
3739 - Other Goods Wholesaling Not Elsewhere Classified
3323 - Industrial and Agricultural Chemical Product Wholesaling
NACE 2002 Codes:
5155 - Wholesale of chemical products
5190 - Other wholesale
NAICS 2002 Codes:
423990 - Other Miscellaneous Durable Goods Merchant Wholesalers
4246 - Chemical and Allied Products Merchant Wholesalers
US SIC 1987:
516 - Chemicals and Allied Products
5099 - Durable Goods, Not Elsewhere Classified
UK SIC 2003:
5190 - Other wholesale
5155 - Wholesale of chemical products
Business
Description
Founded in 1982,
Marlin Chemicals Ltd. is an importer, exporter and distributor of industrial
chemicals and raw materials. The company offers a range of polymerised rosins
and acid, alkyd, PVC and hydrogenated hydrocarbon resins. It also stocks and
sells beeswax, carbon black, caustic soda and polyethylene wax. The company
supplies chemical solvents, zinc resinates and tung oil. It supplies its
products to the manufacturers of adhesives, sealants, paints, surface coatings,
varnishes, oils, lubricants, disinfectants, and plastic and healthcare
products. The company operates and maintains several warehouses and a fleet of
vehicles to provide product storage and delivery services. In addition, it serves
the rubber and cosmetics industries. The company offers chemicals for the
production of candles, inks, emulsifiers, chewing gums, soldering fluxes and
industrial cleaning products.
More Business
Descriptions
· Marlin Chemicals Ltd is an exporter and distributor of industrial chemicals and raw materials. It serves various markets, such as adhesives and sealants, cosmetics, disinfectants and cleaners, emulsifiers, effluent treatment, candles, chewing gum and bit (Updated by OneSource Information Services)
· Chemicals Distribution and Wholesale
· Other Chemical and Allied Products Merchant Wholesalers
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Corporate
Family |
Corporate
Structure News: |
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Total Corporate Family Members: 5 |
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
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Parent |
Tonbridge |
United Kingdom |
Chemical Manufacturing |
19.4 |
14 |
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Subsidiary |
Sevenoaks |
United Kingdom |
Chemical Manufacturing |
1.3 |
4 |
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Subsidiary |
Dorking |
United Kingdom |
Personal and Household Products |
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2 |
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Subsidiary |
Sevenoaks |
United Kingdom |
Chemical Manufacturing |
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executive report
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Board of
Directors |
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Director |
Director/Board Member |
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Director |
Director/Board Member |
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Director |
Director/Board Member |
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Executives |
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Secretary |
Company Secretary |
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Directors and Shareholders Report
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Main Office Address: |
Tel: 01892 724077 |
Annual Return Date: 19 Oct 2010 |
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Individual Directors |
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Name |
Status |
DOB |
Filed
Address |
Appointment
Date |
Resignation
Date |
Summary
of Directorships |
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Current |
03 Jun 1948 |
Homeleigh Appledore Road, |
01 Jan 1995 |
NA |
Current:6 |
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Current |
15 Aug 1946 |
20 Rutland Terrace, |
19 Oct 1991 |
NA |
Current:10 |
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Current |
27 Feb 1937 |
Lyme Building Westmere Drive, Crewe Business Park, |
19 Oct 1991 |
NA |
Current:5 |
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Current |
13 Sep 1955 |
Cherry Garth Shoreham Road, Otford, |
01 Dec 1997 |
NA |
Current:6 |
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Previous |
01 Dec 1936 |
21 Priory Avenue, Chingford, |
19 Oct 1991 |
01 Jul 1996 |
Current:0 |
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Previous |
24 Nov 1910 |
Portobello, Brenchley, |
23 Jan 1992 |
31 Jan 1999 |
Current:0 |
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Corporate
Directors |
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There are no corporate directors for this company. |
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Individual
Secretaries |
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Name |
Status |
DOB |
Filed Address |
Appointment Date |
Resignation Date |
Summary of
Directorships |
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Current |
15 Aug 1946 |
20 Rutland Terrace, |
04 Sep 1996 |
NA |
Current:10 |
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Previous |
01 Dec 1936 |
21 Priory Avenue, Chingford, |
19 Oct 1991 |
01 Jul 1996 |
Current:0 |
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Corporate
Secretaries |
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There are no corporate secretaries for this company. |
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Individual
Shareholders |
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Name |
Share
Details |
Share
Type |
#
of Shares |
Share
Price (GBP) |
Share
Value (GBP) |
%
of Total Shares |
|
David Reynolds |
5000 A Ordinary GBP 1.00 |
A Ordinary |
5,000 |
1.00 |
5,000.00 |
2.00 |
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David Reynolds |
4000 Ordinary GBP 1.00 |
Ordinary |
4,000 |
1.00 |
4,000.00 |
1.60 |
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Diana White |
5000 A Ordinary GBP 1.00 |
A Ordinary |
5,000 |
1.00 |
5,000.00 |
2.00 |
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Diana White |
4000 Ordinary GBP 1.00 |
Ordinary |
4,000 |
1.00 |
4,000.00 |
1.60 |
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Gerald Williams |
152000 Ordinary GBP 1.00 |
Ordinary |
152,000 |
1.00 |
152,000.00 |
60.80 |
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Lindel Williams |
50000 Ordinary GBP 1.00 |
Ordinary |
50,000 |
1.00 |
50,000.00 |
20.00 |
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Martin Williams |
30000 Ordinary GBP 1.00 |
Ordinary |
30,000 |
1.00 |
30,000.00 |
12.00 |
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Corporate
Shareholders |
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There are no corporate shareholders for this company. |
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Annual
Profit & Loss
Financials in: USD
(mil)
Except for share
items (millions) and per share items (actual units)
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|
30-Jun-2010 |
30-Jun-2009 |
30-Jun-2008 |
30-Jun-2007 |
30-Jun-2006 |
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Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
|
Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate
(Period Average) |
0.633607 |
0.627423 |
0.499214 |
0.517836 |
0.562718 |
|
Consolidated |
Yes |
Yes |
No |
No |
No |
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|
Turnover (UK) |
- |
- |
9.2 |
9.6 |
8.5 |
|
Turnover (Exports) |
- |
- |
0.9 |
1.0 |
0.8 |
|
Total Turnover |
19.4 |
19.5 |
10.1 |
10.5 |
9.3 |
|
Cost of Sales |
17.1 |
17.6 |
9.0 |
9.5 |
8.5 |
|
Gross Profit |
2.3 |
2.0 |
1.0 |
1.0 |
0.8 |
|
Depreciation |
0.0 |
0.0 |
0.1 |
0.0 |
0.0 |
|
Other Expenses |
1.8 |
1.7 |
1.3 |
1.2 |
1.0 |
|
Other Income |
0.2 |
0.1 |
0.6 |
0.6 |
0.4 |
|
Interest Paid |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Exceptional Income |
0.0 |
0.0 |
0.0 |
-0.1 |
0.0 |
|
Discontinued Operations |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Profit Before Taxes |
0.7 |
0.3 |
0.2 |
0.2 |
0.1 |
|
Tax Payable / Credit |
0.2 |
0.1 |
0.0 |
0.0 |
0.0 |
|
Extraordinary Items/Debits |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Dividends |
0.2 |
0.1 |
0.2 |
0.1 |
0.1 |
|
Profit After Taxes |
0.2 |
0.0 |
0.0 |
0.1 |
0.0 |
|
Minority Interests (Profit & Loss) |
-0.1 |
-0.1 |
0.0 |
0.0 |
0.0 |
|
Audit Fees |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Number of Employees |
14 |
12 |
11 |
13 |
15 |
|
Wages |
0.8 |
0.7 |
0.7 |
0.6 |
0.6 |
|
Social Security Costs |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Pensions |
- |
- |
- |
0.0 |
0.0 |
|
Other Pension Costs |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Employees Remuneration |
0.9 |
0.8 |
0.8 |
0.7 |
0.7 |
|
Directors Emoluments |
- |
- |
- |
0.3 |
0.3 |
|
Other Costs |
- |
- |
- |
0.0 |
0.0 |
|
Directors Remuneration |
0.3 |
0.3 |
0.3 |
0.3 |
0.3 |
|
Highest Paid Director |
0.2 |
0.1 |
- |
- |
- |
Annual
Balance Sheet
Financials
in: USD (mil)
|
|
30-Jun-2010 |
30-Jun-2009 |
30-Jun-2008 |
30-Jun-2007 |
30-Jun-2006 |
|
Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate |
0.668405 |
0.60722 |
0.502475 |
0.498418 |
0.540672 |
|
Consolidated |
Yes |
Yes |
No |
No |
No |
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|
Land & Buildings |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Fixtures & Fittings |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Plant & Vehicles |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Total Tangible Fixed Assets |
0.2 |
0.2 |
0.2 |
0.3 |
0.2 |
|
Intangible Assets |
0.1 |
0.2 |
0.1 |
0.1 |
0.1 |
|
Investments |
0.3 |
0.3 |
1.4 |
1.2 |
1.1 |
|
Total Fixed Assets |
0.6 |
0.7 |
1.7 |
1.6 |
1.5 |
|
Stocks |
1.2 |
- |
- |
0.9 |
1.0 |
|
Work in Progress |
0.0 |
- |
- |
0.0 |
0.0 |
|
Total Stocks Work In Progress |
1.2 |
1.3 |
1.3 |
0.9 |
1.0 |
|
Trade Debtors |
6.8 |
3.7 |
1.9 |
2.0 |
2.2 |
|
Inter-Company Debtors |
0.0 |
0.0 |
0.1 |
0.1 |
0.0 |
|
Director Loans |
- |
- |
- |
- |
0.0 |
|
Other Debtors |
0.4 |
0.4 |
0.3 |
0.3 |
0.3 |
|
Total Debtors |
7.2 |
4.2 |
2.3 |
2.5 |
2.6 |
|
Cash and Equivalents |
0.4 |
0.9 |
0.1 |
0.3 |
0.3 |
|
Other Current Assets |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Current Assets |
8.7 |
6.4 |
3.8 |
3.7 |
3.9 |
|
Total Assets |
9.3 |
7.1 |
5.5 |
5.3 |
5.4 |
|
Trade Creditors |
2.1 |
2.1 |
1.5 |
1.6 |
1.3 |
|
Bank Overdraft |
0.2 |
0.4 |
0.2 |
0.6 |
0.5 |
|
Inter-Company Creditors |
0.0 |
0.0 |
0.1 |
0.0 |
0.0 |
|
Total Finance Lease/Hire Purchase (Current Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Short Term Loans |
- |
- |
- |
- |
0.2 |
|
Accruals/Deferred Income (Current Liability) |
0.8 |
0.8 |
0.6 |
0.5 |
0.7 |
|
Social Security/VAT |
0.3 |
0.2 |
0.3 |
0.3 |
0.2 |
|
Corporation Tax |
0.2 |
0.1 |
0.0 |
0.0 |
0.0 |
|
Other Current Liabilities |
2.8 |
0.8 |
0.9 |
0.6 |
0.7 |
|
Total Current Liabilities |
6.3 |
4.4 |
3.6 |
3.6 |
3.6 |
|
Group Loans (Long Term Liability) |
0.0 |
0.0 |
0.0 |
0.1 |
0.0 |
|
Director Loans (Long Term Liability) |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Hire Purchase (Long Term Liability) |
- |
- |
- |
0.0 |
- |
|
Leasing (Long Term Liability) |
- |
- |
- |
0.0 |
- |
|
Total Hire Purchase Loans (Long Term Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Other Long Term Loans |
0.3 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Accruals/Deferred Income (Long Term Liability) |
- |
0.0 |
0.0 |
0.1 |
0.2 |
|
Other Long Term Liabilities |
0.2 |
0.2 |
0.0 |
0.0 |
0.0 |
|
Total Long Term Liabilities |
0.5 |
0.3 |
0.1 |
0.1 |
0.3 |
|
Deferred Taxation |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Other Provisions |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Provisions |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Issued Capital |
0.4 |
0.4 |
0.5 |
0.5 |
0.5 |
|
Share Premium Accounts |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Revaluation Reserve |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Retained Earnings |
1.4 |
1.3 |
1.1 |
1.1 |
0.9 |
|
Other Reserves |
0.1 |
0.1 |
0.1 |
0.0 |
0.0 |
|
Minority Interests (Balance Sheet) |
-0.6 |
-0.6 |
0.0 |
0.0 |
0.0 |
|
Total Shareholders Funds |
1.9 |
1.8 |
1.7 |
1.6 |
1.4 |
|
Net Worth |
1.8 |
1.6 |
1.6 |
1.4 |
1.2 |
Annual
Cash Flows
Financials
in: USD (mil)
|
|
30-Jun-2010 |
30-Jun-2009 |
30-Jun-2008 |
30-Jun-2007 |
30-Jun-2006 |
|
Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
|
Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate
(Period Average) |
0.633607 |
0.627423 |
0.499214 |
0.517836 |
0.562718 |
|
Consolidated |
Yes |
Yes |
No |
No |
No |
|
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|
|
|
|
|
|
Net Cash Flow From Operating Activities |
-2.4 |
1.5 |
- |
0.1 |
0.7 |
|
Net Cash Flow from ROI and Servicing of Finance |
-0.1 |
-0.1 |
- |
0.0 |
-0.1 |
|
Taxation |
-0.1 |
-0.1 |
- |
0.0 |
0.0 |
|
Capital Expenditures |
-0.1 |
0.0 |
- |
-0.1 |
-0.2 |
|
Acquisitions and Disposals |
0.0 |
0.0 |
- |
0.0 |
-0.6 |
|
Paid Up Equity |
-0.2 |
-0.1 |
- |
-0.1 |
-0.1 |
|
Management of Liquid Resources |
0.0 |
0.0 |
- |
0.0 |
0.0 |
|
Net Cash Flow From Financing |
0.4 |
0.0 |
- |
0.0 |
0.0 |
|
Increase in Cash |
-2.5 |
1.0 |
- |
-0.1 |
-0.4 |
Annual
Ratios
Financials
in: USD (mil)
|
|
30-Jun-2010 |
30-Jun-2009 |
30-Jun-2008 |
30-Jun-2007 |
30-Jun-2006 |
|
Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
|
Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate |
0.668405 |
0.60722 |
0.502475 |
0.498418 |
0.540672 |
|
Consolidated |
Yes |
Yes |
No |
No |
No |
|
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|
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|
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|
|
Current Ratio |
1.39 |
1.46 |
1.04 |
1.02 |
1.06 |
|
Liquidity Ratio |
1.21 |
1.16 |
0.68 |
0.78 |
0.78 |
|
Stock Turnover |
15.94 |
15.12 |
7.76 |
12.57 |
9.36 |
|
Credit Period (Days) |
134.90 |
67.58 |
70.45 |
68.21 |
84.66 |
|
Working Capital by Sales |
13.31% |
10.07% |
1.40% |
0.80% |
2.29% |
|
Trade Credit by Debtors |
0.31 |
0.57 |
0.78 |
0.77 |
0.60 |
|
Return on Capital |
20.44% |
12.55% |
13.02% |
12.12% |
5.67% |
|
Return on Assets |
6.62% |
4.80% |
4.34% |
3.87% |
1.82% |
|
Profit Margin |
3.35% |
1.69% |
2.37% |
1.89% |
1.01% |
|
Return on Shareholders Funds |
33.25% |
18.61% |
13.65% |
13.19% |
6.98% |
|
Borrowing Ratio |
27.54% |
22.52% |
20.63% |
51.37% |
66.00% |
|
Equity Gearing |
19.93% |
25.76% |
31.81% |
29.32% |
25.99% |
|
Debt Gearing |
16.90% |
0.56% |
5.09% |
6.13% |
8.11% |
|
Interest Coverage |
10.61 |
3.38 |
2.28 |
2.01 |
1.60 |
|
Sales by Tangible Assets |
86.16 |
124.08 |
42.07 |
41.10 |
43.70 |
|
Average Remuneration per Employee |
0.1 |
0.1 |
0.1 |
0.1 |
0.0 |
|
Profit per Employee |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Sales per Employee |
1.3 |
1.7 |
0.9 |
0.8 |
0.6 |
|
Capital Employed per Employee |
0.2 |
0.2 |
0.2 |
0.1 |
0.1 |
|
Tangible Assets per Employee |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Assets per Employee |
0.7 |
0.6 |
0.5 |
0.4 |
0.4 |
|
Employee Remuneration by Sales |
4.80% |
4.14% |
7.78% |
6.76% |
7.20% |
|
Creditor Days (Cost of Sales Based) |
46.92 |
42.83 |
61.06 |
57.91 |
55.65 |
|
Creditor Days (Sales Based) |
41.26 |
38.51 |
54.93 |
52.35 |
51.03 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.96 |
|
UK Pound |
1 |
Rs.73.94 |
|
Euro |
1 |
Rs.64.56 |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
---- |
NB |
New Business |
---- |
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 and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.