MIRA INFORM REPORT
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Report Date : |
16.05.2012 |
IDENTIFICATION DETAILS
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Name : |
GLOBAL METCORP LTD. |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
30.08.2001 |
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Com. Reg. No.: |
04278981 |
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Legal Form : |
Private Subsidiary Company |
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Line of Business : |
Dealer in metal scrap |
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No. of Employees
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10 |
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, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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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
Global Metcorp Ltd.
Empire Way
Tel: 020 8782 8744
Synthesis
Employees: 10
Company Type: Private Subsidiary
Corporate Family: 2
Companies
Ultimate Parent: Greta
Investments Ltd
Quoted Status: Non-quoted Company
Incorporation Date:
30-Aug-2001
Auditor: King & King
Financials in: USD
(Millions)
Fiscal Year End:
31-Mar-2011
Reporting Currency: British
Pound Sterling
Annual Sales: 135.6
1
Net Income: 1.3
Total Assets: 28.1
Business Description
Dealer in metal scrap.
Industry
Industry Business Services
ANZSIC 2006: 6999 - Other
Professional, Scientific and Technical Services Not Elsewhere Classified
NACE 2002: 7487 - Other
business activities not elsewhere classified
NAICS 2002: 5619 - Other
Support Services
UK SIC 2003: 7487 - Other
business activities not elsewhere classified
US SIC 1987: 7389 - Business
Services, Not Elsewhere Classified
Key Executives
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Name |
Title |
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Ritesh Shah |
Secretary |
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Sherad Bhatt |
Manager |
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Ashish Chaudhari |
Director |
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Aditya Chopra |
Director |
Financial Summary
FYE: 31-Mar-2011 USD (mil)
Key Figures
Current Assets 27.54
Fixed Assets 0.56
Total Liabilities 22.67
Net Worth 5.42
Key Ratios
Current Ratio 1.21
Acid Test 0.96
Registered No.(
1 - Profit & Loss Item Exchange Rate: USD 1 = GBP 0.6433939
2 - Balance Sheet Item Exchange Rate: USD 1 = GBP 0.6238497
Corporate Overview
Location
Empire Way
Tel: 020 8782 8744
Sales GBP(mil): 87.2
Assets GBP(mil): 17.5
Employees: 10
Fiscal Year End: 31-Mar-2011
Industry: Business
Services
Registered
Address:
Empire Way
Incorporation Date: 30-Aug-2001
Company Type: Private
Subsidiary
Quoted Status: Not
Quoted
Registered No.(
Director: Ashish
Chaudhari
Contents
· Industry Codes
· Business Description
· Financial Data
· Key Corporate Relationships
Industry Codes
ANZSIC 2006 Codes:
6999 - Other Professional, Scientific and Technical Services Not
Elsewhere Classified
NACE 2002 Codes:
7487 - Other business activities not elsewhere classified
NAICS 2002 Codes:
5619 - Other Support Services
US SIC 1987:
7389 - Business Services, Not Elsewhere Classified
7487 - Other business activities not elsewhere classified
Business
Description
Dealer in metal scrap.
More Business
Descriptions
Non Ferrous Metals Production
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Corporate
Family |
Corporate
Structure News: |
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Global Metcorp
Ltd. |
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
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Greta Investments Ltd |
Parent |
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Global Metcorp Ltd. |
Subsidiary |
Wembley |
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Business Services |
135.6 |
10 |
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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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Executives |
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Secretary |
Company Secretary |
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Manager |
Other |
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Directors and Shareholders Report
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Main Office
Address: |
Tel: 020 8782 8744 |
Annual Return Date: 30 Aug 2011 |
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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 |
08 Jan 1979 |
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27 Aug 2002 |
NA |
Current:3 |
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Current |
18 Apr 1980 |
8Th Floor |
31 Aug 2006 |
NA |
Current:2 |
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Current |
18 Apr 1980 |
Flat 13 Elmwood 6, The Avenue Hatchend, |
31 Aug 2006 |
NA |
Current:1 |
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Previous |
03 Dec 1976 |
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30 Aug 2001 |
28 Aug 2002 |
Current:0 |
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Previous |
29 Jun 1973 |
31 Kingsway, |
30 Aug 2001 |
28 Aug 2002 |
Current:4 |
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Previous |
29 Jul 1941 |
26 |
30 Aug 2001 |
31 Aug 2006 |
Current:0 |
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Corporate Directors |
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Company Name |
Status |
Registered Address |
Appointment Date |
Resignation Date |
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Brighton Director Limited |
Previous |
381 Kingsway, |
30 Aug 2001 |
31 Aug 2001 |
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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 |
NA |
71 |
01 Sep 2007 |
NA |
Current:1 |
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Previous |
29 Jun 1973 |
31 Kingsway, |
30 Aug 2001 |
28 Aug 2002 |
Current:4 |
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Previous |
29 Jul 1941 |
26 |
27 Aug 2002 |
01 Sep 2007 |
Current:0 |
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Corporate Secretaries |
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Company Name |
Status |
Registered Address |
Appointment Date |
Resignation Date |
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Brighton Secretary Limited |
Previous |
381 Kingsway, |
30 Aug 2001 |
31 Aug 2001 |
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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 |
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Adarsh Shrikant |
2506 Ordinary GBP 1.00 |
Ordinary |
2,506 |
1.00 |
2,506.00 |
1.00 |
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Ashish Chaudhari |
125300 Ordinary GBP 1.00 |
Ordinary |
125,300 |
1.00 |
125,300.00 |
50.00 |
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Nitesh Chaudhari |
122794 Ordinary GBP 1.00 |
Ordinary |
122,794 |
1.00 |
122,794.00 |
49.00 |
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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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31-Mar-2011 |
31-Aug-2010 |
31-Aug-2009 |
31-Aug-2008 |
31-Aug-2007 |
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Period Length |
30 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
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Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
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Exchange Rate
(Period Average) |
0.643394 |
0.640102 |
0.643147 |
0.502947 |
0.510995 |
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Consolidated |
No |
Yes |
Yes |
No |
No |
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Turnover ( |
0.0 |
0.0 |
0.0 |
- |
- |
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Turnover (Exports) |
135.6 |
211.6 |
155.1 |
- |
- |
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Total Turnover |
135.6 |
211.6 |
155.1 |
- |
- |
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Cost of Sales |
133.6 |
208.4 |
153.2 |
- |
- |
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Gross Profit |
2.0 |
3.2 |
1.9 |
1.4 |
- |
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Depreciation |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Other Expenses |
0.3 |
0.9 |
0.5 |
0.3 |
- |
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Operating Profit |
- |
- |
- |
1.0 |
- |
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Other Income |
0.1 |
0.3 |
0.1 |
0.0 |
- |
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Interest Paid |
0.0 |
0.0 |
0.0 |
0.0 |
- |
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Exceptional Income |
0.0 |
0.0 |
0.0 |
0.0 |
- |
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Discontinued Operations |
0.0 |
0.0 |
0.0 |
0.0 |
- |
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Profit Before Taxes |
1.7 |
2.6 |
1.4 |
1.0 |
- |
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Tax Payable / Credit |
0.5 |
0.7 |
0.4 |
0.3 |
- |
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Extraordinary Items/Debits |
0.0 |
0.0 |
0.0 |
0.0 |
- |
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Dividends |
0.0 |
0.0 |
0.1 |
0.0 |
- |
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Profit After Taxes |
1.3 |
1.8 |
0.9 |
0.7 |
- |
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Minority Interests (Profit & Loss) |
0.0 |
0.0 |
0.0 |
0.0 |
- |
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Audit Fees |
0.0 |
0.0 |
0.0 |
0.0 |
- |
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Non Audit Fees |
0.0 |
0.0 |
- |
- |
- |
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Number of Employees |
10 |
11 |
10 |
8 |
- |
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Wages |
0.1 |
0.2 |
0.2 |
0.1 |
- |
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Social Security Costs |
0.0 |
0.0 |
0.0 |
0.0 |
- |
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Other Pension Costs |
0.0 |
0.0 |
0.0 |
0.0 |
- |
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Employees Remuneration |
0.1 |
0.3 |
0.2 |
0.1 |
- |
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Directors Remuneration |
0.0 |
0.1 |
0.1 |
0.0 |
- |
Annual Balance Sheet
Financials in: USD (mil)
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31-Mar-2011 |
31-Aug-2010 |
31-Aug-2009 |
31-Aug-2008 |
31-Aug-2007 |
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Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
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Exchange Rate |
0.62385 |
0.65066 |
0.613572 |
0.548261 |
0.495774 |
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Consolidated |
No |
Yes |
Yes |
No |
No |
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Land & Buildings |
0.5 |
0.5 |
0.5 |
0.6 |
- |
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Fixtures & Fittings |
0.0 |
0.0 |
0.0 |
0.0 |
- |
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Plant & Vehicles |
0.0 |
0.0 |
0.0 |
0.0 |
- |
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Total Tangible Fixed Assets |
0.6 |
0.5 |
0.6 |
0.6 |
0.7 |
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Intangible Assets |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Investments |
0.0 |
0.0 |
0.0 |
0.1 |
0.0 |
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Total Fixed Assets |
0.6 |
0.5 |
0.6 |
0.7 |
0.7 |
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Stocks |
5.9 |
2.8 |
2.5 |
2.6 |
- |
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Work in Progress |
0.0 |
0.0 |
0.0 |
0.0 |
- |
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Total Stocks Work In Progress |
5.9 |
2.8 |
2.5 |
2.6 |
3.1 |
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Trade Debtors |
18.9 |
11.6 |
7.9 |
11.7 |
- |
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Inter-Company Debtors |
0.1 |
0.0 |
0.0 |
- |
- |
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Other Debtors |
1.5 |
3.7 |
0.1 |
0.8 |
- |
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Total Debtors |
20.6 |
15.3 |
8.1 |
12.5 |
7.8 |
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Cash and Equivalents |
1.1 |
2.3 |
2.7 |
1.7 |
0.0 |
|
Other Current Assets |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Total Current Assets |
27.5 |
20.4 |
13.3 |
16.7 |
10.9 |
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Total Assets |
28.1 |
20.9 |
13.9 |
17.4 |
11.6 |
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Trade Creditors |
20.0 |
14.9 |
10.5 |
14.5 |
- |
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Bank Overdraft |
0.0 |
0.0 |
- |
0.0 |
- |
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Inter-Company Creditors |
0.0 |
0.0 |
- |
- |
- |
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Director Loans (Current Liability) |
0.0 |
0.0 |
0.1 |
0.0 |
- |
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Total Short Term Loans |
- |
- |
0.0 |
0.3 |
- |
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Accruals/Deferred Income (Current Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
- |
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Social Security/VAT |
0.0 |
0.0 |
0.0 |
0.0 |
- |
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Corporation Tax |
1.0 |
1.1 |
0.4 |
0.2 |
- |
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Other Current Liabilities |
1.6 |
0.8 |
0.4 |
0.7 |
10.2 |
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Total Current Liabilities |
22.7 |
16.8 |
11.5 |
15.8 |
10.2 |
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Group Loans (Long Term Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Director Loans (Long Term Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Hire Purchase (Long Term Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Leasing (Long Term Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Total Hire Purchase Loans (Long Term Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Other Long Term Loans |
0.0 |
0.0 |
0.0 |
0.0 |
0.3 |
|
Accruals/Deferred Income (Long Term Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Other Long Term Liabilities |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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Total Long Term Liabilities |
0.0 |
0.0 |
0.0 |
0.0 |
0.3 |
|
Deferred Taxation |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
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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 |
0.4 |
0.5 |
0.5 |
|
Share Premium Accounts |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Revaluation Reserve |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Retained Earnings |
5.0 |
3.7 |
2.0 |
1.1 |
0.4 |
|
Other Reserves |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Minority Interests (Balance Sheet) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Shareholders Funds |
5.4 |
4.1 |
2.4 |
1.6 |
1.0 |
|
Net Worth |
5.4 |
4.1 |
2.4 |
1.6 |
1.0 |
Annual Cash Flows
Financials in: USD (mil)
|
|
31-Mar-2011 |
31-Aug-2010 |
31-Aug-2009 |
31-Aug-2008 |
31-Aug-2007 |
|
Period Length |
30 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
|
Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate
(Period Average) |
0.643394 |
0.640102 |
0.643147 |
0.502947 |
0.510995 |
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Consolidated |
No |
Yes |
Yes |
No |
No |
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|
Net Cash Flow From Operating Activities |
-0.7 |
-0.2 |
1.7 |
2.5 |
- |
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Net Cash Flow from ROI and Servicing of Finance |
0.0 |
0.0 |
0.0 |
0.0 |
- |
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Taxation |
-0.6 |
0.0 |
-0.2 |
-0.1 |
- |
|
Capital Expenditures |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Acquisitions and Disposals |
0.1 |
0.0 |
0.0 |
-0.1 |
- |
|
Paid Up Equity |
0.0 |
0.0 |
-0.1 |
0.0 |
- |
|
Management of Liquid Resources |
1.8 |
0.1 |
-0.8 |
0.0 |
- |
|
Net Cash Flow From Financing |
0.0 |
0.0 |
-0.2 |
-0.1 |
- |
|
Increase in Cash |
0.6 |
-0.3 |
0.3 |
2.2 |
- |
Annual Ratios
Financials in: USD (mil)
|
|
31-Mar-2011 |
31-Aug-2010 |
31-Aug-2009 |
31-Aug-2008 |
31-Aug-2007 |
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Period Length |
30 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
|
Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate |
0.62385 |
0.65066 |
0.613572 |
0.548261 |
0.495774 |
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Consolidated |
No |
Yes |
Yes |
No |
No |
|
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|
|
|
|
|
Current Ratio |
1.21 |
1.21 |
1.16 |
1.06 |
1.06 |
|
Liquidity Ratio |
0.96 |
1.05 |
0.94 |
0.89 |
0.76 |
|
Stock Turnover |
41.20 |
75.01 |
64.59 |
- |
- |
|
Credit Period (Days) |
28.52 |
20.34 |
17.80 |
- |
- |
|
Working Capital by Sales |
2.01% |
1.71% |
1.15% |
- |
- |
|
Trade Credit by Debtors |
1.06 |
1.29 |
1.33 |
1.25 |
- |
|
Return on Capital |
57.01% |
63.13% |
61.07% |
58.12% |
- |
|
Return on Assets |
11.00% |
12.40% |
10.67% |
5.33% |
- |
|
Profit Margin |
1.27% |
1.24% |
0.91% |
- |
- |
|
Return on Shareholders Funds |
57.01% |
63.13% |
61.07% |
58.12% |
- |
|
Borrowing Ratio |
0.02% |
0.56% |
2.66% |
19.75% |
30.18% |
|
Equity Gearing |
19.29% |
19.64% |
17.48% |
9.17% |
8.84% |
|
Debt Gearing |
- |
- |
- |
- |
30.18% |
|
Interest Coverage |
59.03 |
69.17 |
61.38 |
31.08 |
- |
|
Sales by Tangible Assets |
435.77 |
378.71 |
289.73 |
- |
- |
|
Average Remuneration per Employee |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Profit per Employee |
0.3 |
0.2 |
0.1 |
0.1 |
- |
|
Sales per Employee |
24.2 |
18.9 |
16.3 |
- |
- |
|
Capital Employed per Employee |
0.5 |
0.4 |
0.2 |
0.2 |
- |
|
Tangible Assets per Employee |
0.1 |
0.0 |
0.1 |
0.1 |
- |
|
Total Assets per Employee |
2.8 |
1.9 |
1.4 |
2.2 |
- |
|
Employee Remuneration by Sales |
0.08% |
0.12% |
0.12% |
- |
- |
|
Creditor Days (Cost of Sales Based) |
30.65 |
26.57 |
23.95 |
- |
- |
|
Creditor Days (Sales Based) |
30.20 |
26.16 |
23.66 |
- |
- |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.84 |
|
|
1 |
Rs.86.72 |
|
Euro |
1 |
Rs.69.17 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.