MIRA INFORM REPORT
|
Report Date : |
07.12.2011 |
IDENTIFICATION DETAILS
|
Name : |
BRITO & MIRANDA SA |
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Registered Office : |
Rua Parque Industrial Nr. 257, Rio Covo, Barcelos District Braga, Postal
Code 4755-481-Rio Covo (Santa Eulalia) |
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Country : |
Portugal |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
21.06.1996 |
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Com. Reg. No.: |
503683795 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacture of knitted fabrics |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
37.410,00 Euros |
|
Status : |
Moderate |
|
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 – September 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
Portugal |
a2 |
a2 |
|
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 |
Identification
|
Name |
BRITO & MIRANDA SA |
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V.A.T. Number / NIF |
503683795 |
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Address |
Rua Parque Industrial Nr. 257 |
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Locality |
RIO COVO |
Postal Code |
4755-481-RIO COVO (SANTA EULALIA) |
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Municipality |
BARCELOS |
District |
BRAGA |
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Telephone |
253897076 |
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Fax |
253897036 |
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E-Mail |
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Web Site |
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C.A.E.(Rev 3) |
13910- Manufacture of knitted fabrics |
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All the amounts
are express in Euros, otherwise you will be advised |
Summary
|
Legal Form |
Joint Stock Company |
|
|
|
Constitution |
21-06-1996 |
V.A.T. Number / NIF |
503683795 |
|
Capital |
250.000,00 |
|
|
|
Sales in : 31-12-2010 |
5.204.222,16 |
Shareholders Funds in: 31-12-2010 |
862.018,45 |
|
Credit |
Recommended |
Credit Limit |
37.410,00 |
|
Condition |
Normal |
Tendency |
Stationary |
|
Financing |
Guaranteed |
Payments |
Good |
|
Actual Condition |
In activity |
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Governing Bodies
|
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Board of Director's |
|
|
JOAO DE BRITO BARATA GARCIA |
Shareholder and Board of Director's Pres. |
|
JORGE MIGUEL GARCIA FILIPE |
Administrator |
|
JOSE MANUEL GOMES MIRANDA |
Shareholder and Administrator |
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Fiscal Board |
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|
ARMINDO COSTA,SERRA CRUZ,MARTINS E
ASSOCIADOS-SROC |
Unique Fiscal |
|
ANTONIO MANUEL ALVES DE SOUSA MARTINS |
Fiscal Board Substitute |
Banks and Financial Institutions
|
MILLENNIUM BCP |
Braga-Empersas |
Historical
|
Registed on the Register Record Office of
Barcelos with the Register Number 503683795 previous number 2821 in
21-06-1996 |
|
Constitution celebrated in 21-06-1996
published on Diário da República number 188 of 14-08-1996 |
|
To oblige the company it is necessary 2
signature |
Changes to Society
|
In 20-05-2008 on Portal MJ of 20-05-2008
social change |
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In 03-03-2008 on Portal MJ of 18-03-2008
board of director's change |
|
In 29-01-2007 on Portal MJ of 29-01-2007
head office change |
|
In 25-12-1997 on Diário da República
number 44 of 21-02-1998 board of director's change |
Capital
|
The Capital is 250.000,00 , divided in
50000 shares , with a nominal value of 5,00 |
|
|
with the following shareholders |
|
JOAO DE BRITO BARATA GARCIA |
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|
JOSE MANUEL GOMES MIRANDA |
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Activities
|
Line of Business |
Percentage |
|
Comercialização de malhas, transformação
de fio em malha, importação e exportação. (Marketing of meshes,
wire mesh processing,
import and export.) |
100% |
|
Type of Clients |
Private Companies |
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|
Sales Conditions |
Cash/credit |
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Sales Area |
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Country |
100% |
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Head Office and Installations
|
Head office and installations Rua Parque
Industrial Nr. 257, RIO COVO (SANTA EULALIA), 4755-481, RIO COVO (SANTA
EULALIA), Tel:253897076, Fax:253897036 |
|
Had head office Lugar do padrão, CARREIRA,
4755, BARCELOS |
Incidents
|
Legal Actions |
||
|
Date: 02-07-2010 |
Judicial District Porto - Juízos de
Execução |
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Amount: 117,00 Euro |
Type: Executiva Comum |
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Author: Ministério Público |
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Process: 214/10.5YJPRT |
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Observations: 1º Juízo - 3ª Secção |
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Date: 03-07-2007 |
Judicial District Porto |
1 Section |
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Amount: 15.000,00 Euro |
Type: Ordinária |
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Author: Administração do Condominio do
Edificio Sito Rua S Dinis 276/296 Porto |
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Process: 1028/07.5TVPRT |
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Date: 18-05-2006 |
Judicial District Porto |
3 Court |
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Amount: 828,41 Euro |
Type: Especial Cump.Obrig. Pecuniarias DL
269/98 |
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Author: Ramos Pinto, Lda. |
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Process: 2039/06.3THPRT |
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Business Concept
|
Consulted sources say that the subject has
been respecting its payments and commercial commitments, so credit
connections with this company are recommended. |
Financial Demonstration SNC
|
Balance Sheet SNC |
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CoinEURO |
|
Date31-12-2010 |
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||
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Closing Date |
31-12-2010 |
31-12-2009 |
-- |
Variação (%) |
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ASSET |
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|||
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Non-current
assets |
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|||
|
Tangible fixed assets |
757.375,67 |
846.158,92 |
|
(10,49) |
|
Intangible assets |
151,34 |
|
|
|
|
Other financial assets |
4.500,00 |
4.500,00 |
|
|
|
Total |
762.027,01 |
850.658,92 |
|
(10,42) |
|
|
|
|
|
|
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Current assets |
|
|
||
|
Inventories |
784.586,35 |
635.405,55 |
|
23,48 |
|
Costumers |
2.101.052,48 |
2.109.974,09 |
|
(0,42) |
|
State and other public entities |
54.382,52 |
40.402,90 |
|
34,60 |
|
Other accounts receivable |
15.791,04 |
24.367,69 |
|
(35,20) |
|
Deferrals |
3.587,90 |
8.207,91 |
|
(56,29) |
|
Cashier and bank deposits |
71.112,37 |
174.523,13 |
|
(59,25) |
|
Total |
3.030.512,66 |
2.992.881,27 |
|
1,26 |
|
TOTAL ASSET |
3.792.539,67 |
3.843.540,19 |
|
(1,33) |
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|
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SHAREHOLDERS
FUNDS AND LIABILITIES |
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SHAREHOLDERS
FUNDS |
|
|
||
|
Capital |
250.000,00 |
250.000,00 |
|
|
|
Other shareholders funds instruments |
74.891,29 |
74.891,29 |
|
|
|
Legal reserves |
29.551,36 |
24.270,19 |
|
21,76 |
|
Other reserves |
4.555,92 |
4.555,92 |
|
|
|
Net retained |
425.051,23 |
346.708,99 |
|
22,60 |
|
Total |
784.049,80 |
700.426,39 |
|
11,94 |
|
Net income for the period |
77.968,65 |
105.623,41 |
|
(26,18) |
|
TOTAL OF SHAREHOLDERS FUNDS |
862.018,45 |
806.049,80 |
|
6,94 |
|
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LIABILITY |
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Non-current
liiabilities |
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||
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Financing obtained |
363.481,18 |
311.550,31 |
|
16,67 |
|
Total |
363.481,18 |
311.550,31 |
|
16,67 |
|
|
|
|
|
|
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Current liabilities
|
|
|
||
|
Suppliers |
1.736.601,24 |
1.488.408,53 |
|
16,68 |
|
State and other public entities |
14.540,47 |
59.032,65 |
|
(75,37) |
|
Financing obtained |
759.580,03 |
1.118.902,39 |
|
(32,11) |
|
Other payable accounts |
56.318,30 |
59.596,51 |
|
(5,50) |
|
Total |
2.567.040,04 |
2.725.940,08 |
|
(5,83) |
|
TOTAL LIABILITIES |
2.930.521,22 |
3.037.490,39 |
|
(3,52) |
|
TOTAL SHAREHOLDERS FUNDS AND LIABILITIES |
3.792.539,67 |
3.843.540,19 |
|
(1,33) |
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INCOME STATEMENT
|
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INCOME AND
EXPENSES |
|
|
||
|
Sales and services |
5.204.222,16 |
4.712.879,81 |
|
10,43 |
|
Variation in production inventories |
(37.523,34) |
(30.333,63) |
|
23,70 |
|
Cost of goods sold and materials consumed |
3.923.691,60 |
3.288.020,52 |
|
19,33 |
|
Suppliers and external services |
631.178,95 |
757.720,13 |
|
(16,70) |
|
Personnel costs |
289.897,49 |
269.955,27 |
|
7,39 |
|
Other income and gains |
40.854,40 |
53.941,70 |
|
(24,26) |
|
Other expenses and losses |
134.321,96 |
155.157,52 |
|
(13,43) |
|
Result before depreciation, financing
costs and taxes |
228.463,22 |
265.634,44 |
|
(13,99) |
|
Expenses/reversals of depreciation and
amortization |
113.531,57 |
118.459,72 |
|
(4,16) |
|
Operating result (before financing costs
and taxes) |
114.931,65 |
147.174,72 |
|
(21,91) |
|
Interest and similar income obtained |
|
133,33 |
|
|
|
interest and similar expenses incurred |
12.080,27 |
9.064,67 |
|
33,27 |
|
Net before taxes |
102.851,38 |
138.243,38 |
|
(25,60) |
|
Income tax of the period |
24.882,73 |
32.619,97 |
|
(23,72) |
|
Net profit for the period |
77.968,65 |
105.623,41 |
|
(26,18) |
|
Results of discontinued operations (net of
taxes) included in the net icome of the period |
1,56 |
2,11 |
|
(26,07) |
Financial Elements
|
|
31-12-2009 |
|
Tangible Assets |
846.158,00 |
|
Investments |
4.500,00 |
|
Stocks |
635.406,00 |
|
Short Term Receivable |
1.592.512,00 |
|
Banks and Cash |
11.149,00 |
|
Accruals and Deferrals |
13.427,00 |
|
Total Assets |
3.103.152,00 |
|
Shareholder's Funds |
806.050,00 |
|
Medium and Long Term Payable |
538.099,00 |
|
Short Term Payable |
1.717.435,00 |
|
Accruals and Deferrals |
41.568,00 |
|
Total Liabilities and Shareholder's Funds |
3.103.152,00 |
|
Cost of Goods and Consumable Materials |
3.288.021,00 |
|
Outside Supplies and Services |
757.720,00 |
|
Personnel Costs |
269.955,00 |
|
Sales |
4.712.880,00 |
Comparatives POC
|
|
31-12-2007 |
31-12-2008 |
31-12-2009 |
|
Net Sales |
4.944.710,00 |
5.011.530,00 |
4.712.880,00 |
|
Net Income For the Year |
71.961,00 |
60.498,00 |
105.623,00 |
|
Current Assets |
1.932.567,00 |
1.690.203,00 |
2.252.494,00 |
|
Short Term Payables |
1.402.861,00 |
1.374.316,00 |
1.717.435,00 |
|
Cash Flow |
529.706,00 |
315.887,00 |
535.059,00 |
|
Total Assets |
2.162.659,00 |
2.446.230,00 |
3.103.152,00 |
|
Total Liabilities |
1.480.828,00 |
1.728.902,00 |
2.297.102,00 |
|
Shareholders Funds |
681.829,00 |
717.326,00 |
806.050,00 |
|
Personnel Costs |
281.328,00 |
260.667,00 |
269.955,00 |
Ratios POC
|
|
31-12-2007 |
31-12-2008 |
31-12-2009 |
|
FINANCIAL SITUATION |
|
|
|
|
General Liquidity |
1,38 |
1,23 |
1,31 |
|
Immediate Liquidity |
1,06 |
0,91 |
0,94 |
|
Financial Autonomy |
0,32 |
0,29 |
0,26 |
|
Solvency |
0,46 |
0,41 |
0,35 |
|
RENTABILITY |
|
|
|
|
Sales Rentability |
1,46 % |
1,21 % |
2,24 % |
|
Sales Rate Increase |
|
1,35 % |
(5,96) % |
|
EFFICIÊNCY |
|
|
|
|
Assets Turnover |
2,29 |
2,05 |
1,52 |
Balance Sheet and Income Statement
|
Balance Sheet |
||
|
CoinEURO |
|
Date31-12-2009 |
|
|
||
|
|
Gross Assets |
Depreciations /
Provisions |
Net Assets |
|
Intangible Assets |
|
Subtotal |
2.925,00 |
2.925,00 |
|
|
Tangible Assets |
|
Subtotal |
1.857.964,00 |
1.011.806,00 |
846.158,00 |
|
Financial Investments |
|
Subtotal |
4.500,00 |
|
4.500,00 |
|
Stocks |
|
Subtotal |
635.406,00 |
|
635.406,00 |
|
Short Term Receivable |
|
Subtotal |
1.592.512,00 |
|
1.592.512,00 |
|
Bank Deposits and Cash |
|
Cash |
2.182,00 |
|
2.182,00 |
|
Bank Deposites |
8.967,00 |
|
8.967,00 |
|
Subtotal |
11.149,00 |
|
11.149,00 |
|
Accruals and Deferrals |
|
Accrued Income |
5.219,00 |
|
5.219,00 |
|
Deferred Cost |
8.208,00 |
|
8.208,00 |
|
Subtotal |
13.427,00 |
|
13.427,00 |
|
|
|
Total Assets |
4.117.883,00 |
1.014.731,00 |
3.103.152,00 |
|
Shareholders Funds and Liabilities |
|
Shareholders Funds |
|
Capital |
250.000,00 |
|
|
Treasury Stock: |
|
|
|
Other Sup. |
74.891,00 |
|
|
Reserves : |
|
|
|
Free |
28.826,00 |
|
|
Net Retained |
346.709,00 |
|
|
Net Income For the Year |
105.623,00 |
|
|
Total |
806.050,00 |
|
|
Short Term Payable |
|
Bank Loans |
138.635,00 |
|
|
State and Other Public Bodies |
25.142,00 |
|
|
Other Creditors |
84.249,00 |
|
|
Trade Creditors |
1.469.408,00 |
|
|
Subtotal |
1.717.435,00 |
|
|
Medium and Long Term Payable |
|
Bank Loans |
311.550,00 |
|
|
Adv. For Clients |
226.549,00 |
|
|
Subtotal |
538.099,00 |
|
|
Accruals and Deferrals |
|
Accrued Charges |
41.568,00 |
|
|
Subtotal |
41.568,00 |
|
|
TOTAL LIABILITIES |
2.297.102,00 |
|
|
TOTAL LIABILITIES AND SHAREHOLDERS FUNDS |
3.103.152,00 |
|
|
Income Statement |
|
Costs and Losses |
|
Cost of Materials Consumed and Goods Sold:
|
|
|
|
Subtotal |
3.288.021,00 |
|
|
Outside Supplies and Services |
757.720,00 |
|
|
Personnel Costs |
|
|
|
Subtotal |
269.955,00 |
|
|
Depreciation |
118.460,00 |
|
|
Subtotal |
118.460,00 |
|
|
Other Operating Costs |
17.482,00 |
|
|
Int. and Similar Costs: |
|
|
|
Subtotal |
46.252,00 |
|
|
Ext. Costs and Losses |
100.488,00 |
|
|
Taxation Over Income |
32.620,00 |
|
|
Net Income For the Year |
105.623,00 |
|
|
Income and Profits |
|
Sales of : |
|
|
|
Products |
4.683.929,00 |
|
|
Services Provided |
28.951,00 |
|
|
Subtotal |
4.712.880,00 |
|
|
Variation in Production |
(30.334,00) |
|
|
Trading Securities Income |
|
|
|
Int. and Similar Costs |
|
|
|
Other |
9.978,00 |
|
|
Extra Income and Gains |
44.097,00 |
|
|
Net Income For the Year |
105.623,00 |
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.51.39 |
|
UK Pound |
1 |
Rs.80.20 |
|
Euro |
1 |
Rs.68.92 |
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.