MIRA INFORM REPORT

 

 

Report Date :

09.08.2012

 

IDENTIFICATION DETAILS

 

Name :

VACCINAR INDÚSTRIA E COMÉRCIO LTDA

 

 

Registered Office :

31270-010 - Belo Horizonte/Mg

 

 

Country :

Brazil

 

 

Financials (as on) :

30.06.2011

 

 

Date of Incorporation :

23.10.1980

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Manufacture Of Feeds For Animals.

 

 

No. of Employees :

500

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

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 30, 2011

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

Brazil

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 


Company name

 

VACCINAR INDÚSTRIA E COMÉRCIO LTDA

 

 

Company ADDRESSES

 

MAIN ADDRESS:

AVENIDA ANTÔNIO CARLOS, 8005 - SÃO LUÍS

ZIP CODE/CITY:

31270-010 - BELO HORIZONTE/MG

 

 

PHONE:

31 3448-5000

FAX:

31 3448-5089/5088

E-MAIL:

miria_chagas@vaccinar.com.br

WEB SITE:

www.vaccinar.com.br

 

BRANCHES:

 

 

 

ADDRESS:

AVENIDA MARINGÁ, 1500 - VILA EMILIANO PERNETA

ZIP CODE/CITY:

83320-970 PINHAIS/PR

PHONE:

41 3601-9201

CNPJ:

21.820.014/0008-06

 

 

ADDRESS:

RODOVIA SP 215 – KM 106 - SALA C - ZONA RURAL

ZIP CODE/CITY:

13690-000 DESCALVADO/SP

 

 

ADDRESS:

AVENIDA JOÃO DURVAL CARNEIRO, 1634 - CENTRO

ZIP CODE/CITY:

44020-220 FEIRA DE SANTANA/BA

 

 

ADDRESS:

RUA BOAVENTURA, 1960 - LIBERDADE

ZIP CODE/CITY:

31270-310 BELO HORIZONTE/MG

CNPJ:

21.820.014/0009-89

 

 

ADDRESS:

FAZENDA BURITI DO MEIO - S/Nº.

ZIP CODE/CITY:

35606-000 MARTINHO CAMPOS/MG

 

 

ADDRESS:

RODOVIA MG 164 - S/Nº. – KM 87

ZIP CODE/CITY:

35606-000 MARTINHO CAMPOS/MG

 

 

ADDRESS:

RODOVIA MG 164 - S/Nº. - KM,88 - ZONA RURAL

ZIP CODE/CITY:

35606-000 MARTINHO CAMPOS/MG

CNPJ:

21.820.014/0014-46

 

 

ADDRESS:

AVENIDA CORONEL PEDRO LINO, 1910 - LAGOA DOS BURITIS

ZIP CODE/CITY:

35606-000 MARTINHO CAMPOS/MG

 

 

ADDRESS:

RUTA INTERNACIONAL, 7 - MONDAY KM 9 1/2, DEPART. ALTO PARANA/ESTE - 99999986

ZIP CODE/CITY:

PARAGUAY/OP

 

 

ADDRESS:

RODOVIA BR 262 – KM 483 - ZONA RURAL

ZIP CODE/CITY:

35600-000 BOM DESPACHO/MG

 

 

ADDRESS:

ESTRADA MUNICIPAL MARAVILHAS - S/Nº ZONA RURAL

ZIP CODE/CITY:

35666-000 MARAVILHAS/MG

 

 

LEGAL DATA

 

MAIN ACTIVITIES:

 

MANUFACTURE OF FEEDS FOR ANIMALS.

 

LEGAL FORM:

LIMITED LIABILITY COMPANY

 

 

INCORPORATION DATE:

23/10/1980

REGISTER DATE:

23/10/1980

BALANCE SHEET FILING DATE:

31/12

TAX CONTRIBUTOR NUMBER(CNPJ):

21.820.014/0001-21

STATE REGISTER:

062308283.00-63

 

 

SHARE CAPITAL:

R$ 27.150.960,00

LAST REGISTER OF CAPITAL:

19/01/2003

 

BOARD OF DIRECTORS:

 

 

 

NELSON DE SOUZA LOPES

MANAGING PARTNER

 

 

AUTHORIZED USE OF SIGNATURE

 

THE MANAGING PARTNER IS AUTHORIZED TO SIGN ON BEHALF OF THE COMPANY.

 

SHAREHOLDERS / PARTNERS:

 

 

 

NELSON DE SOUZA LOPES

R$ 27.131.455,00

HELENICE REZENDE DE CASTRO

R$ 19.505,00

 

AFFILIATES / SUBSIDIARIES:

 

 

 

DOES NOT HAVE.

 

 

 

COMPANY'S BACKGROUND

 

THE SUBJECT WAS ESTABLISHED ON OCTOBER 23, 1980 AS ELETROAR - COMÉRCIO E INDÚSTRIA LTDA TO BE ENGAGED IN THE SAID LINE OF BUSINESS. LATER IT ADOPTED THE ABOVE-MENTIONED NAME AND UP TO DATE IT IS STILL OPERATING WITHIN THE GENERAL SCENE REPORTED HEREIN.

 

TRADE NAME: "VACCINAR NUTRIÇÃO E SAÚDE ANIMAL".

 

PARTNERS:

 

NELSON DE SOUZA LOPES: BRAZILIAN, DIVORCED, HOLDER OF DOCUMENTS CPF 156.644.066-15, RG M-253-740 SSP/MG, RESIDENTIAL ADDRESS AT AV. PRESIDENTE ANTONIO CARLOS 8005, BELO HORIZONTE/MG.

 

HELENICE REZENDE DE CASTRO: BRAZILIAN, DIVORCED, HOLDER OF DOCUMENTS CPF 525.991.916,53, RG M- 1.174.974 SSP/MG, RESIDENTIAL ADDRESS AT AV. PRESIDENTE ANTONIO CARLOS 8005, BELO HORIZONTE/MG.

 

FURTHER DETAILS ARE SO FAR NOT KNOWN.

 

WHEN INTERVIEWED SOURCES AT THE SUBJECT STATED THAT ARE STILL WAITING FOR AUTHORIZATION FROM THE PRINCIPALS TO PROVIDE THE DATA NECESSARY TO COMPLETE THIS REPORT.

 

A REQUEST FOR FURTHER DATA HAS BEEN SENT TO THE COMPANY. PROVIDED THE DATA REQUESTED ARE RECEIVED FROM THE SUBJECT A COMPLEMENTARY REPORT WILL BE SENT TO YOUR ATTENTION.

 

THE DATA CONTAINED HEREIN WERE OBTAINED FROM OUTSIDE SOURCES, OUR DATABASE AND OFFICIAL. NO FURTHER DATA WAS AVAILABLE WITH SEVERAL SOURCES USUALLY INVESTIGATED.

 

PUBLIC RECORDS INFORMATION:

 

LAWSUITS:

 

 

 

DATE:

COURT OF LAW:

 

2

MUNICIPAL LAWSUITS

07/07/11

2ª VARA DE MG-BELO HORIZONTE

 

(RESEARCH DATE: 04/05/2012)

 

 

FINANCIAL INFORMATION

 

GENERAL BALANCE SHEETS AS OF 30/06/2011, 31/12/2010 AND 31/12/2009.

( FIGURES ARE IN REAIS ).

 

ASSETS

 

 

 

CURRENT:

30/06/2011

31/12/2010

31/12/2009

 

 

 

 

CASH AND BANKS

1.303.550,00

4.576.025,00

3.241.356,00

CLIENTS

31.150.408,00

28.774.644,00

22.722.164,00

INVENTORY

22.505.106,00

20.483.546,00

19.042.972,00

ADVANCE TO SUPPLIERS

4.698.525,00

4.937.906,00

2.508.522,00

RECOVERABLE TAXES

124.228,00

41.540,00

109.249,00

 

----------------

----------------

----------------

TOTAL CURRENT ASSETS

59.781.817,00

58.813.661,00

47.624.263,00

 

LONG-TERM RECEIVABLES:

 

 

 

 

 

 

 

JUDICIAL DEPOSITS

78.537,00

66.757,00

45.790,00

 

----------------

----------------

----------------

TOTAL LONG-TERM RECEIVABLES

78.537,00

66.757,00

45.790,00

 

FIXED ASSETS:

 

 

 

 

 

 

 

FIXED ASSETS

32.932.570,00

28.742.915,00

24.455.545,00

INVESTMENTS

289.375,00

289.375,00

289.375,00

 

----------------

----------------

----------------

TOTAL FIXED ASSETS

33.221.945,00

29.032.290,00

24.744.920,00

 

================

================

================

TOTAL ASSETS

93.082.299,00

87.912.708,00

72.414.973,00

 

LIABILITIES:

 

 

 

CURRENT:

30/06/2011

31/12/2010

31/12/2009

 

 

 

 

SUPPLIERS

19.074.541,00

20.743.024,00

16.912.315,00

LOANS AND FINANCING

611.490,00

12.739,00

16.983,00

TAXES & CONTRIBUTIONS

630.270,00

1.054.784,00

762.919,00

INCOME TAX/SOCIAL CONTRIBUTION

 

499.115,00

700.452,00

LABOR PROVISIONS

1.573.278,00

844.577,00

693.375,00

INTERESTS ON OWN CAPITAL

992.729,00

274.845,00

10.264,00

OTHER

84.303,00

56.693,00

71.892,00

 

----------------

----------------

----------------

TOTAL CURRENT LIABILITIES

22.966.611,00

23.485.777,00

19.168.200,00

 

LONG TERM LIABILITIES:

 

 

 

 

 

 

 

SUPPLIERS

2.161.814,00

2.596.312,00

2.099.668,00

LOANS AND FINANCING

638.870,00

 

 

TRIBUTARY OBLIGATIONS

113.538,00

113.538,00

8.322.718,00

OTHER

133.122,00

171.848,00

89.999,00

 

----------------

----------------

----------------

TOTAL LONG TERM LIABILITIES

3.047.344,00

2.881.698,00

10.512.385,00

 

DEFERRED INCOME

457.270,00

604.592,00

179.395,00

 

NET EQUITY:

 

 

 

 

 

 

 

SHARE CAPITAL

27.150.960,00

27.150.960,00

27.150.960,00

PROFIT RESERVES

26.206.474,00

 

 

ACCRUED PROFIT (LOSS)

7.580.211,00

33.789.681,00

15.404.033,00

PROFIT (LOSS) OF PERIOD

5.673.430,00

 

 

 

----------------

----------------

----------------

TOTAL NET EQUITY

66.611.075,00

60.940.641,00

42.554.993,00

 

================

================

================

TOTAL LIABILITIES

93.082.300,00

87.912.708,00

72.414.973,00

 

PROFIT AND LOSS ACCOUNTS AS OF 30/06/2011, 31/12/2010 AND 31/12/2009.

( FIGURES ARE IN REAIS ).

 

 

30/06/2011

31/12/2010

31/12/2009

 

 

 

 

GROSS SALES

98.134.307,00

178.825.375,00

157.030.714,00

(-) TAXES ON SALES

5.052.429,00

13.395.670,00

11.943.383,00

 

----------------

----------------

----------------

NET SALES

93.081.878,00

165.429.705,00

145.087.331,00

(-) COST OF SOLD GOODS

60.434.027,00

109.057.875,00

94.696.268,00

 

----------------

----------------

----------------

GROSS PROFIT

32.647.851,00

56.371.830,00

50.391.063,00

OPERATING REVENUE (EXPENSE)

-25.788.559,00

-40.472.947,00

-37.134.306,00

FINANCIAL REVENUE(EXPENSE)

1.569.116,00

-4.569.424,00

795.014,00

 

----------------

----------------

----------------

OPERATIONAL PROFIT (LOSS)

8.428.408,00

11.329.459,00

14.051.771,00

NON-OPERATING RESULT

80.271,00

49.843,00

-1.072,00

CONTRIBUTION/INCOME TAX

-2.835.249,00

-3.796.091,00

-4.684.442,00

 

----------------

----------------

----------------

NET PROFIT (LOSS)

5.673.430,00

7.583.211,00

9.366.257,00

 

MONTHLY SALES

 

  2011

 

 

 

---------------------

 

 

JANUARY

R$ 14.273.155,07

 

 

FEBRUARY

R$ 14.220.987,77

 

 

MARCH

R$ 17.121.489,10

 

 

APRIL

R$ 15.318.682,51

 

 

MAY

R$ 19.053.348,15

 

 

JUNE

R$ 17.887.861,54

 

 

JULY

R$ 16.964.796,54

 

 

AUGUST

R$ 18.891.969,36

 

 

SEPTEMBER

R$ 19.567.872,13

 

 

OCTOBER

R$ 17.800.095,13

 

 

NOVEMBER

R$ 18.728.945,17

 

 

DECEMBER

 

 

 

TOTAL

R$ 189.829.202,47

 

 

 

RATIOS:

30/06/2011

31/12/2010

31/12/2009

 

QUICK RATIO

1,62

 

1,63

 

1,49

 

CURRENT RATIO

2,60

 

2,50

 

2,48

 

ACCOUNTS RECEIVABLE TURNOVER

2,99

TIMES

5,75

TIMES

6,39

TIMES

DAYS' SALES IN RECEIVABLES

60,24

DAYS

62,62

DAYS

56,38

DAYS

INVENTORY TURNOVER

2,69

TIMES

5,32

TIMES

4,97

TIMES

ACCOUNTS PAYABLE PERIOD

56,81

DAYS

68,47

DAYS

64,29

DAYS

RETURN ON ASSETS

1,00

TIMES

1,88

TIMES

2,00

TIMES

SALES TURNOVER ON NET EQUITY

1,40

TIMES

2,71

TIMES

3,41

TIMES

NET WORTH TIE-UP

,49

 

,47

 

,57

 

INDEBTEDNESS

,39

 

,43

 

,70

 

EQUITY RATIO

71,56

%

69,32

%

58,77

%

WORKING CAPITAL RATIO

160,30

%

150,42

%

148,45

%

GENERAL SOLVENCY

3,58

 

3,33

 

2,44

 

RETURN ON NET EQUITY

8,52

%

12,44

%

22,01

%

RETURN ON SALES (PROFIT MARGIN)

6,10

%

4,58

%

6,46

%

GROSS PROFIT MARGIN

35,07

%

34,08

%

34,73

%

OPERATIONAL RESULT

9,05

%

6,85

%

9,69

%

SALES TURNOVER ON LIABILITIES

4,05

TIMES

7,04

TIMES

7,57

TIMES

FOREIGN CURRENCY ON ASSETS

 

 

 

 

 

 

FOREIGN CURRENCY ON LIABILITIES

 

 

 

 

 

 

 

EXCHANGE RATE:

 

 

US$ 1,00 = R$ 1,92

 - OFFICIAL RATE ON 04/05/2012

US$ 1,00 = R$ 1,56

 - OFFICIAL RATE ON 30/06/2011

US$ 1,00 = R$ 1,66

 - OFFICIAL RATE ON 31/12/2010

US$ 1,00 = R$ 1,74

 - OFFICIAL RATE ON 31/12/2009

 

COMMENTS ON THE FINANCIAL INFORMATION:

 

FOLLOWS ATTACHED WORKSHEET WITH MAIN FINANCIAL RATIOS.

 

THE ANNUAL FIGURES FOR 2010 SHOW VERY GOOD FINANCIAL STANDING. IT HAS GOOD LIQUIDITY AND IMPORTANT WORKING CAPITAL, AS WELL AS LOW LEVEL OF INDEBTEDNESS. IN ADDITION, IT SHOWED GROWING SALES AND POSTED PROFIT.

 

THE INTERIM FIGURES FOR JUNE 2011 SHOW THAT IT STILL HAS GOOD LIQUIDITY AND LOW LEVEL OF INDEBTEDNESS. IN ADDITION, IT SHOWS GROWING SALES TREND AND POSITIVE RESULT.

 

REAL ESTATE:

 

 OWNED PREMISES ARE VALUED AT R$ 57.190.000,00

 

VEHICLES:

 

  OWNED VEHICLES ARE VALUED AT R$ 2.990.243,00

 

MACHINES:

 

NOT AVAILABLE

 

 

INSURANCE

 

NOT AVAILABLE.

 


 

BANKING REFERENCES

 

 

BRANCH/PHONE:

CITY:

BANCO DO BRASIL S/A

3394-4 VILA RICA / 31 3299-7900

BELO HORIZONTE/MG

BANCO BRADESCO S/A

1218 BARRO PRETO / 31 3295-5898

BELO HORIZONTE/MG

BANCO ITAÚ S/A

3179 ABRAHÃO CARAM / 31 3249-3691

BELO HORIZONTE/MG

BANCO SANTANDER (BRASIL) S/A

PAMPULHA / 31 3491-8050

BELO HORIZONTE/MG

 

REMARKS: IN BRAZIL THE BANKS ARE PROHIBITED BY LAW TO PROVIDE INFORMATION OR ANY KIND OF COMMENTS ABOUT THEIR CLIENTS. DUE TO THIS LAW PROHIBITION WE ARE UNABLE TO PROVIDE ANY BANKING DETAILS.

 

ACCORDING TO THE CENTRAL BANK OF BRAZIL OFFICIAL REPORT, THE COMPANY HAS NO RETURNED CHECKS UP TO DATE. (IN THE TERMS OF "CIRCULAR 1682 BRAZILIAN CENTRAL BANK"). DATE RESEARCHED: MAY 04, 2012.

 

 

ACTIVITIES COMMENTS

 

THE SUBJECT IS ENGAGED IN THE MANUFACTURE OF FEEDS FOR ANIMALS.

 

IMPORT AND EXPORT:

 

 IMPORTS FROM:

UNITED STATES, ARGENTINA, SPAIN, BELGIUM, FRANCE AND HOLLAND.

 

EXPORTS TO:

DOES NOT EXPORT.

 

MAIN CLIENTS:

 

 

 

 

 

DOMESTIC CLIENTS:

 

 

NOT AVAILABLE.

 

 

 

STAFF:

 

THE COMPANY HAS: 500 EMPLOYEE(S)

 

 

CONCEPT AND FULFILMENT

 

THE SUBJECT IS A WELL-ESTABLISHED COMPANY, OPERATING SINCE 1980. SO FAR IT HAS A CLEAR TRADE HISTORY AND GOOD PAYMENT BEHAVIOUR.

 

THE COMPANY HAS TRADE RELATIONS WITH SEVERAL SUPPLIERS IN BRAZIL. THE SUPPLIERS EXTEND CREDIT FACILITIES TO THE SUBJECT IN TERMS AND AMOUNTS ACCORDING TO THE COMPANY'S NEEDS AND SO FAR NO PAYMENT PROBLEMS ARE NOTED.

THE LAWSUITS REPORTED ARE NOT RELATED WITH TRADE DEBTS. THEY ARE RELATED TO TAX DEBTS THAT FOR ANY REASON THE COMPANY HAS NOT YET PAID. NEVERTHELESS WE POINT OUT THAT THE SAID LAWSUITS DO NOT AFFECT THE COMPANY’S TRADE REPUTATION.

 

MAIN SUPPLIERS:

 

 

 

 

 

DOMESTIC SUPPLIERS:

CITY:

PHONE:

ADISSEO BRASIL LTDA

SANTO ANDRÉ/SP

11 3741-3560

AVENTIS ANIMAL NUTRITION BRASIL LTDA

 

11 3741-7764

BASF S/A

 

11 6421-0011

BUNGE FERTILIZANTES S/A

ARAXÁ/MG

34 3669-6221

CARAMURU ALIMENTOS LTDA

ITUMBIARA/GO

31 3697-7017

CJ DO BRASIL

PIRACICABA/SP

11 3717-8812

COPEBRAS LTDA

CATALAO/GO

64 3411-8305

ELI LILLY DO BRASIL LTDA

SÃO PAULO/SP

0800-11-2690

FERTILIZANTES SERRNA S/A

 

13 3854-9000

IICOM - MINERAÇÃO INDÚSTRIA E COMÉRCIO LTDA

 

31 3771-5700

IMPEXTRACO LATIN AMERICA LTDA

CURITIBA/SP

41 3302-0100

M. CASSAB COMÉRCIO INDÚSTRIA LTDA

 

11 3522-7788

MERIAL SAÚDE ANIMAL LTDA

CAMPINAS/SP

19 3707-5000

MICROSAL INDÚSTRIA E COMÉRCIO LTDA

CAPIVARI/SP

0800-55-5166

MINAS SUCATAS S/A

 

31 3626-9400

MOINHOS VERA CRUZ S/A

 

81 3641-6167

PHIBRO SAÚDE ANIMAL INTERNACIONAL LTDA

GUARULHOS/SP

11 6472-4444

PIGMINAS PIMENTOS GERAIS

MATOZINHOS/MG

31 3712-1212

RAÇÕES RANORTE E ADUBOS DO NORTE LTDA

 

38 3214-1063

RHÔNE POULER ANIMAL NUTRITION BRASIL LTDA

 

11 3741-7764

SOLORRICO S/A INDÚSTRIA E COMÉRCIO

 

11 3253-5115

SUMITOMO CORPORATION DO BRASIL

 

11 4070-8403

TELAS UNIAO INDUSTRIA COMERCIO LTDA

 

31 3427-9600

 

PAYMENT HISTORY:

 

19 SUPPLIERS REPORTED PAYMENTS:

   TOTAL AMOUNT:  R$ 1.647.887,00

 

AMOUNT OF INVOICES PAID: 148

TOTAL OF PROMPT PAYMENTS: 100%

HIGHEST INVOICE: R$ 89.858,00

HIGHEST CREDIT: R$ 89.858,00

 

OUTSTANDING INVOICES DUE WITHIN THE NEXT 30 DAYS:

 

---------------------------

SUPPLIERS:

INVOICES:

TOTAL AMOUNT:

DUE WITHIN 30 DAYS

2

3

R$ 60.929,60

 


 

FINAL OPINION

 

THE SUBJECT IS A WELL-ESTABLISHED COMPANY IN BUSINESS FOR SEVERAL YEARS. UP TO DATE IT HAS GOOD FINANCIAL STANDING, A CLEAR TRADE HISTORY AND GOOD PAYMENT BEHAVIOR.

 

BASED ON THE GENERAL INFORMATION AVAILABLE IT IS BELIEVED THAT GOOD TRADE RELATIONS MAY BE ESTABLISHED. CREDIT FACILITIES MAY BE EXTENDED WITHIN TERMS AND AMOUNTS ADEQUATE TO THE COMPANY'S FINANCIAL STRENGTH.

 

AN INITIAL CREDIT LIMIT OF US$ 3.000.000,00. EVEN HIGHER AMOUNTS CAN BE GRANTED DEPENDING ON THE IMPORTANCE OF THE ACTIVITIES BEING ESTABLISHED WITH THE SUBJECT.

 

 

 


 

FOREIGN EXCHANGE RATES

 

Currency

Unit

Indian Rupees

US Dollar

1

Rs.52.85

UK Pound

1

Rs.85.44

Euro

1

Rs.68.80

 

 

INFORMATION DETAILS

 

Report Prepared by :

PDT

 

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.