MIRA
INFORM REPORT
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Report Date : |
02.07.2012 |
IDENTIFICATION DETAILS
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Name : |
GROUPE SALMON-ARC EN CIEL SAS |
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Registered Office : |
49 rue de Vendee, Villedieu la Blouere, 49450 |
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Country : |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
15.02.1989 |
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Com. Reg. No.: |
349773697 |
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Legal Form : |
Private Parent Company |
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Line of Business : |
Manufacture of clothing for babies and children and retail trade in
accessories and gifts for children aged up to 8 years old |
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No. of Employees : |
175 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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France |
A2 |
A2 |
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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
Groupe Salmon-Arc en Ciel SAS
49 rue de Vendee
Villedieu la Blouere, 49450
France
Tel: +33 02 41 64 51 00
Fax: +33 02 41 30 82 11
Web: www.gsa.fr
Registration data
Employees: 175
Company Type: Private Parent
Corporate Family: 3
Companies
Incorporation Date:
15-Feb-1989
Financials in: USD
(Millions)
Fiscal Year End:
31-Dec-2009
Reporting Currency: Euro
Annual Sales: 36.5
Total Assets: 39.3
Business Description
Manufacture of clothing for babies and children and retail trade in
accessories and gifts for children aged up to 8 years old
Industry
Industry Apparel and Accessories
ANZSIC 2006: 1351 - Clothing
Manufacturing
NACE 2002: 1824 - Manufacture
of other wearing apparel and accessories not elsewhere classified
NAICS 2002: 315291 - Infants'
Cut and Sew Apparel Manufacturing
UK SIC 2003: 18249 -
Manufacture of other wearing apparel and accessories not elsewhere classified
US SIC 1987: 2369 - Girls',
Children's, and Infants' Outerwear, Not Elsewhere Classified
Key Executives
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Name |
Title |
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Xavier Cunaud |
President |
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Marie-Helene Audigane |
Directeur Financier |
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Helene Seguin |
Directeur Marketing |
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Benoit Barron |
Director |
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Patrick Tisserand |
Directeur des Achats |
Registered No.(FRA): 349773697
1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7190468
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.6969855
Corporate Overview
Location
49 rue de Vendee
Villedieu la Blouere, 49450
France
Tel: +33 02 41 64 51 00
Fax: +33 02 41 30 82 11
Web: www.gsa.fr
Sales EUR(mil): 26.2
Assets EUR(mil): 27.4
Employees: 175
Fiscal Year End: 31-Dec-2009
Industry: Apparel and Accessories
Incorporation Date: 15-Feb-1989
Company Type: Private Parent
Quoted Status: Not Quoted
Registered No.(FRA): 349773697
President: Xavier Cunaud
Contents
Industry Codes
Business Description
Brand/Trade Names
Financial Data
Subsidiaries
Key Corporate Relationships
Industry Codes
ANZSIC 2006 Codes:
4251 - Clothing Retailing
1351 - Clothing Manufacturing
4243 - Toy and Game Retailing
NACE 2002 Codes:
5242 - Retail sale of clothing
5248 - Other retail sale in specialised stores
1823 - Manufacture of underwear
1824 - Manufacture of other wearing apparel and accessories not
elsewhere classified
NAICS 2002 Codes:
315231 - Women's and Girls' Cut and Sew Lingerie, Loungewear, and
Nightwear Manufacturing
448130 - Children's and Infants' Clothing Stores
315291 - Infants' Cut and Sew Apparel Manufacturing
451120 - Hobby, Toy, and Game Stores
US SIC 1987:
2341 - Women's, Misses', Children's, and Infants' Underwear and
Nightwear
5945 - Hobby, Toy, and Game Shops
2361 - Girls', Children's, and Infants' Dresses, Blouses, and
Shirts
5641 - Children's and Infants' Wear Stores
2369 - Girls', Children's, and Infants' Outerwear, Not Elsewhere
Classified
UK SIC 2003:
18249 - Manufacture of other wearing apparel and accessories not
elsewhere classified
52422 - Retail sale of children's and infants' clothing
18232 - Manufacture of women's underwear
52485 - Retail sale of sports goods, games and toys, stamps and
coins
Business
Description
Manufacture of clothing for babies and children and retail trade in
accessories and gifts for children aged up to 8 years old
More Business
Descriptions
Groupe Salmon Arc En Ciel is primarily engaged in manufacture of other
men’s outerwear; and manufacture of other women’s outerwear.
Cut and Sew Apparel Contractors
Brand/Trade Names
Sucre d'Orge
Berlingot
Village de Bebe
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Corporate
Family |
Corporate
Structure News: |
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Groupe
Salmon-Arc en Ciel SAS |
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Groupe Salmon-Arc en Ciel SAS |
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
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Groupe Salmon-Arc en Ciel SAS |
Parent |
Villedieu la Blouere |
France |
Apparel and Accessories |
36.5 |
224 |
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Baby Gift International System Company
Limited |
Subsidiary |
Wan Chai, Hong Kong |
Hong Kong |
Apparel and Accessories |
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10 |
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Arc En Ciel Productions |
Subsidiary |
Villedieu La Blouere |
France |
Apparel and Accessories |
2.6 |
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Executive report
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Annual Profit & Loss
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31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
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Period Length |
12 Months |
12 Months |
12 Months |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate
(Period Average) |
0.719047 |
0.683679 |
0.730637 |
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Consolidated |
No |
No |
No |
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Total income |
36.6 |
46.3 |
49.1 |
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Net sales |
36.5 |
45.8 |
50.4 |
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Change in stock |
0.5 |
0.3 |
0.1 |
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Subsidies for operating costs |
0.0 |
0.0 |
0.1 |
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Supplementary operating income |
1.1 |
0.7 |
0.9 |
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Other operating income |
0.2 |
0.2 |
0.2 |
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Other external charges |
9.9 |
13.8 |
14.3 |
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Cost of goods sold |
15.0 |
18.5 |
19.4 |
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Taxes and social security costs |
0.6 |
0.5 |
0.5 |
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Social charges |
2.5 |
2.9 |
2.8 |
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Total payroll costs |
6.3 |
7.5 |
7.3 |
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Cost of stock depreciation and amortisation |
0.1 |
0.2 |
0.1 |
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Fixed asset depreciation and amortisation |
0.6 |
0.6 |
0.6 |
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Other operating costs |
0.4 |
0.4 |
0.6 |
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Total operating costs |
36.0 |
44.8 |
45.8 |
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Net operating income |
0.6 |
1.5 |
3.3 |
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Total financial income |
1.8 |
1.3 |
1.0 |
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Interest payable on loans |
0.5 |
0.8 |
0.7 |
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Other expenses |
0.4 |
0.5 |
0.1 |
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Total expenses |
0.9 |
1.3 |
0.8 |
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Profit before tax |
1.5 |
1.5 |
3.6 |
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Extraordinary income |
0.8 |
0.3 |
1.0 |
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Extraordinary expenses |
1.5 |
0.5 |
0.7 |
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Extraordinary result |
- |
- |
0.3 |
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Total taxation |
- |
0.1 |
0.7 |
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Profit distributed to employees |
- |
0.2 |
0.5 |
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Net profit |
1.3 |
1.0 |
2.7 |
Annual Balance Sheet
Financials in: USD (mil)
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31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate |
0.696986 |
0.719399 |
0.683971 |
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Consolidated |
No |
No |
No |
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Issued capital |
6.9 |
6.7 |
7.0 |
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Share premium account |
0.6 |
0.5 |
0.6 |
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Legal reserves |
0.3 |
0.3 |
0.1 |
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Total reserves |
5.7 |
5.5 |
5.8 |
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Profits for the year |
1.3 |
1.0 |
2.9 |
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Profit brought forward from previous year(s) |
2.7 |
4.5 |
5.0 |
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Total stockholders equity |
17.4 |
18.5 |
21.4 |
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Provisions and allowances |
0.8 |
0.7 |
1.0 |
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Trade creditors |
4.9 |
5.5 |
7.7 |
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Bank loans and overdrafts |
3.7 |
4.7 |
5.2 |
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Other loans |
7.6 |
8.4 |
8.7 |
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Other liabilities |
1.6 |
0.7 |
0.9 |
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Debts on fixed assets |
0.1 |
0.1 |
0.2 |
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Taxation and social security |
2.8 |
2.9 |
3.9 |
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Total current liabilities |
17.5 |
17.9 |
21.3 |
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Total debts |
20.6 |
22.3 |
26.5 |
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Regularisation account |
0.5 |
0.4 |
0.6 |
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Total liabilities (including net worth) |
39.3 |
41.9 |
49.5 |
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Patents |
0.2 |
0.2 |
0.1 |
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Goodwill |
1.8 |
1.7 |
1.8 |
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Land |
0.3 |
0.3 |
0.3 |
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Buildings |
3.3 |
3.7 |
4.0 |
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Other fixed assets |
0.5 |
0.7 |
0.8 |
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Long-term investments |
1.7 |
1.9 |
2.4 |
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Other financial assets |
2.0 |
0.4 |
0.9 |
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Total non-current assets |
9.7 |
8.9 |
10.3 |
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Net stocks and work in progress |
5.1 |
5.8 |
6.6 |
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Trade debtors |
9.6 |
12.0 |
14.1 |
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Discounted bills not yet due |
0.4 |
4.1 |
4.5 |
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Other receivables |
0.5 |
0.4 |
0.6 |
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Prepaid expenses |
0.9 |
0.8 |
1.5 |
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Cash and liquid assets |
3.1 |
5.2 |
6.7 |
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Marketable securities |
10.2 |
8.8 |
9.8 |
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Total current assets |
29.5 |
33.0 |
39.2 |
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Prepaid expenses and deferred costs |
0.0 |
0.0 |
0.0 |
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Total assets |
39.3 |
41.9 |
49.5 |
Annual Ratios
Financials in: USD (mil)
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|
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
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Period Length |
12 Months |
12 Months |
12 Months |
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Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.696986 |
0.719399 |
0.683971 |
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Consolidated |
No |
No |
No |
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Current ratio |
1.70 |
1.80 |
1.80 |
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Quick ratio |
1.40 |
1.50 |
1.50 |
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Total liabilities to net worth |
1.33% |
1.35% |
1.37% |
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Net worth to total assets |
0.39% |
0.39% |
0.39% |
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Collection period |
80.90 |
112.40 |
105.00 |
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Stock turnover rate |
7.30 |
7.50 |
8.10 |
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Asset turnover |
0.96% |
1.04% |
1.09% |
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Profit margin |
0.04% |
0.03% |
0.07% |
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Return on assets |
0.04% |
0.04% |
0.08% |
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Shareholders' return |
0.10% |
0.09% |
0.20% |
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Sales per employee |
983.04 |
1,033.19 |
1,165.92 |
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Profit per employee |
41.54 |
34.45 |
82.24 |
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Average wage per employee |
170.73 |
169.77 |
168.57 |
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Net worth |
17.4 |
18.5 |
21.4 |
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Number of employees |
175 |
199 |
207 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.56.31 |
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UK Pound |
1 |
Rs.88.06 |
|
Euro |
1 |
Rs.70.91 |
INFORMATION DETAILS
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Report Prepared
by : |
MNL |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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.