MIRA INFORM REPORT

 

 

Report Date :

26.05.2012

 

IDENTIFICATION DETAILS

 

Name :

SLACK & PARR LTD.

 

 

Registered Office :

Long Lane, Kegworth, Derby, DE74 2FL

 

 

Country :

United Kingdom 

 

 

Financials (as on) :

31.03.2011

 

 

Date of Incorporation :

01.09.1997

 

 

Com. Reg. No.:

03427086

 

 

Legal Form :

Private Subsidiary Company

 

 

Line of Business :

Subject produces precision manufacturing equipment and components

 

 

No. of Employees :

202

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

Payment Behaviour :

Unknown

 

 

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

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

United Kingdom 

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

Company name & address  

 

Slack & Parr Ltd.

Long Lane

Kegworth

Derby, DE74 2FL

United Kingdom

Tel:       01509672306

Fax:      01509673357

Web:    www.slackandparr.com

 

           

synthesis

 

Employees:                  202

Company Type:            Private Subsidiary

Corporate Family:          8 Companies

Ultimate Parent:             Slack & Parr (Investments) Ltd.

Quoted Status:             Non-quoted Company

Incorporation Date:         01-Sep-1997

Auditor:                        KPMG LLP       

Financials in:                 SD (Millions)

Fiscal Year End:            31-Mar-2011

Reporting Currency:       British Pound Sterling

Annual Sales:               14.8  1

Net Income:                  (2.3)

Total Assets:                 12.1

 

 

Business Description     

 

Slack & Parr Ltd. produces precision manufacturing equipment and components. Its product line includes planetary, polymer metering, acrylic and gear pumps. The company also offers acetate, viscose, fibre, chemical and industrial pumps. It also provides a wide range of transfer pumps for fluids, polymers and oligomers. It also specialises in manufacturing aerospace components. The company additionally supplies shaft pump, with heating and insulation equipment, drive motor, gearbox and coupling. It also provides customer support services, such as repair and maintenance to its clients. (Updated by OneSource Information Services)

 

Industry             

Industry            Miscellaneous Capital Goods

ANZSIC 2006:    2499 - Other Machinery and Equipment Manufacturing Not Elsewhere Classified

NACE 2002:      2924 - Manufacture of other general purpose machinery not elsewhere classified

NAICS 2002:     33399 - All Other General Purpose Machinery Manufacturing

UK SIC 2003:    2924 - Manufacture of other general purpose machinery not elsewhere classified

US SIC 1987:    3569 - General Industrial Machinery and Equipment, Not Elsewhere Classified

Key Executives   

 

Name

Title

Richard Edward Hallsworth

Managing Director

David Etherington

Marketing Manager

Raymond Allan Howard

Secretary

S. Hulse

IT Manager

Lisa Hallsworth

Purchasing Manager

 

 

News   

 

Title                                                     Date

Learning curve

Leicester Mercury (UK) (48 Words)          8-Jul-2011

 

 

Financial Summary    

 

FYE: 31-Mar-2011          USD (mil)

Key Figures    

Current Assets              8.03

Fixed Assets                 4.05

Total Liabilities               11.38

Net Worth                     0.62

 

Key Ratios                  

Current Ratio                 0.71

Acid Test                      0.35

Debt Gearing                 12.99

 

Registered No.(UK):       03427086

 

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

Long Lane

Kegworth

Derby, DE74 2FL

Derbyshire County

United Kingdom

Tel:       01509672306

Fax:      01509673357

Web:    www.slackandparr.com

           

Sales GBP(mil):             9.5

Assets GBP(mil):           7.5

Employees:                   202

Fiscal Year End:            31-Mar-2011

Industry:                        Miscellaneous Capital Goods

           

Registered Address:

Long Lane

Kegworth

Derby, DE74 2FL

United Kingdom

 

Incorporation Date:         01-Sep-1997

Company Type:             Private Subsidiary

Quoted Status:              Not Quoted

Registered No.(UK):       03427086

 

Managing Director:         Richard Edward Hallsworth

Contents

Industry Codes

Business Description

Financial Data

Key Corporate Relationships

 

Industry Codes

 

ANZSIC 2006 Codes:

2499     -          Other Machinery and Equipment Manufacturing Not Elsewhere Classified

 

NACE 2002 Codes:

2924     -          Manufacture of other general purpose machinery not elsewhere classified

 

NAICS 2002 Codes:

33399   -          All Other General Purpose Machinery Manufacturing

 

US SIC 1987:

3569     -          General Industrial Machinery and Equipment, Not Elsewhere Classified

 

UK SIC 2003:

2924     -          Manufacture of other general purpose machinery not elsewhere classified

 

Business Description

Slack & Parr Ltd. produces precision manufacturing equipment and components. Its product line includes planetary, polymer metering, acrylic and gear pumps. The company also offers acetate, viscose, fibre, chemical and industrial pumps. It also provides a wide range of transfer pumps for fluids, polymers and oligomers. It also specialises in manufacturing aerospace components. The company additionally supplies shaft pump, with heating and insulation equipment, drive motor, gearbox and coupling. It also provides customer support services, such as repair and maintenance to its clients. (Updated by OneSource Information Services)

 

 

Financial Data

Financials in:

GBP(mil)

 

Revenue:

9.5

Net Income:

-1.5

Assets:

7.5

Current Assets:

5.0

 

Fixed Assets:

2.5

 

Long Term Debt:

0.1

 

Total Liabilities:

7.1

 

Issued Capital:

6.0

 

Working Capital:

-2.1

 

Net Worth:

0.4

 

 

 

Date of Financial Data:

31-Mar-2011

 

1 Year Growth

5.1%

NA

13.7%

Key Corporate Relationships

Auditor:

KPMG LLP

Bank:

National Westminster Bank PLC

 

Auditor:

KPMG LLP

 

 

 

GBP(mil)

Audit Fees:

0.0

Non Audit Fees:

0.0

Audit Fiscal Year:

03-31-2011

 

 

 

 

 

 

 

 

 

Corporate Family

Corporate Structure News:

 

Slack & Parr (Investments) Ltd.
Slack & Parr Ltd.

Slack & Parr Ltd. 
Total Corporate Family Members: 8 

 

 

Company Name

Company Type

Location

Country

Industry

Sales
(USD mil)

Employees

 

Slack & Parr (Investments) Ltd.

Parent

Derby

United Kingdom

Miscellaneous Capital Goods

16.2

210

 

Slack & Parr Ltd.

Subsidiary

Derby

United Kingdom

Miscellaneous Capital Goods

14.8

202

 

Slack & Parr (Hydraulics) Ltd.

Subsidiary

Derby

United Kingdom

Miscellaneous Capital Goods

0.8

2

 

S & P Parkwood Ltd.

Subsidiary

Derby

United Kingdom

Airlines

 

 

 

Slack & Parr) (Marine) Ltd.

Subsidiary

Derby

United Kingdom

Miscellaneous Capital Goods

 

 

 

Slack & Parr (Machine Tools) Ltd.

Subsidiary

Derby

United Kingdom

Miscellaneous Capital Goods

 

 

 

Slack & Parr (Desyplan) Ltd.

Subsidiary

Derby

United Kingdom

Miscellaneous Capital Goods

 

 

 

Sp Winchester Machine Tools Ltd.

Subsidiary

Derby

United Kingdom

Miscellaneous Capital Goods

 

 

 

 

 

Executive report

 

Board of Directors

 

Name

Title

Function

 

Neil John Anderton

 

Director

Director/Board Member

 

Edward Pilsworth Barrington

 

Director

Director/Board Member

 

Norris Edward Hallsworth

 

Director

Director/Board Member

 

Stephen James Taylor

 

Director

Director/Board Member

 

Richard James Wilson

 

Director

Director/Board Member

 

 

Executives

 

Name

Title

Function

 

Richard Edward Hallsworth

 

Managing Director

Managing Director

 

Raymond Allan Howard

 

Secretary

Company Secretary

 

Janice Turner

 

Accounts Manager

Accounting Executive

 

B. Harrison

 

Training Manager

Training Executive

 

David Etherington

 

Marketing Manager

Marketing Executive

 

S. Hulse

 

IT Manager

Information Executive

 

Simon Lancaster Barrington

 

Technical Director

Engineering/Technical Executive

 

Mick Jones

 

Research & Development Manager

Telecommunications Executive

 

Lisa Hallsworth

 

Purchasing Manager

Purchasing Executive

 

Tim Barrington

 

Hydraulics Director

Other

 

 

 

Directors and Shareholders Report

 

Main Office Address:
Long Lane
Derby
United Kingdom DE74 2FL

Tel: 01509672306
Fax: 01509673357
URL:http://www.slackandparr.com

Annual Return Date: 11 Aug 2011
Total Issued Capital (GBP 000):6,000

 

Individual Directors

 

Name

Status

DOB

Filed Address

Appointment Date

Resignation Date

Summary of Directorships

 

Edward Pilsworth 
Barrington

Current

14 Sep 1978

88 Maplewell Road, Woodhouse Eaves, 
Loughborough, Leicestershire LE12 8RA

23 Jan 2008

NA

Current:2
Previous:0
Disqualifications:0

 

Simon Lancaster 
Barrington

Current

21 Jul 1946

Fawley Cottage, Butt Lane, 
Loughborough, Leicestershire LE12 5EE

01 Jan 2001

NA

Current:2
Previous:0
Disqualifications:0

 

Richard Edward 
Hallsworth

Current

04 Oct 1967

Rosecroft, 48 Main Street, 
Loughborough, Leicestershire LE12 9TA

01 Sep 2003

NA

Current:9
Previous:0
Disqualifications:0

 

Timothy Barwell 
Barrington

Current

10 Jul 1949

20 Market Place, Kegworth, 
Derby, Derbyshire DE74 2EE

01 Jan 2001

NA

Current:4
Previous:0
Disqualifications:0

 

Norris Edward 
Hallsworth

Current

09 Mar 1941

28 Shepshed Road, Hathern, 
Loughborough, Leicestershire LE12 5LK

08 Jan 1998

NA

Current:4
Previous:5
Disqualifications:0

 

Stephen James 
Taylor

Current

25 Aug 1955

Long Lane, Kegworth, 
Derby, Derbyshire DE74 2FL

01 Feb 2011

NA

Current:1
Previous:0
Disqualifications:0

 

Neil John 
Anderton

Current

25 Oct 1968

6 Faires Close, Borrowash, 
Derby, Derbyshire DE72 3XP

01 Oct 2006

NA

Current:1
Previous:0
Disqualifications:0

 

Richard James 
Wilson

Current

03 Feb 1966

1 Pollards Oaks, Borrowash, 
Derby, Derbyshire DE72 3QU

01 Oct 2006

NA

Current:1
Previous:0
Disqualifications:0

 

Keith Edward 
Lewington

Previous

26 Aug 1951

Ford Cottage 17 Milton Road, Willen Village, 
Milton Keynes, Buckinghamshire MK15 9AD

01 Sep 1997

08 Jan 1998

Current:0
Previous:143
Disqualifications:0

 

George Robert 
Mounsey

Previous

11 Feb 1943

12 Shirley Crescent, Breaston, 
Derby, Derbyshire DE72 3BZ

25 Mar 1998

31 Mar 2005

Current:0
Previous:2
Disqualifications:0

 

Michael John 
Rea

Previous

25 Oct 1934

Hillside 29 The Settlement, Ockbrook, 
Derby, Derbyshire DE72 3RJ

25 Mar 1998

31 Mar 2003

Current:2
Previous:3
Disqualifications:0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate Directors

 

There are no corporate directors for this company.

 

 

Individual Secretaries

 

Name

Status

DOB

Filed Address

Appointment Date

Resignation Date

Summary of Directorships

 

Raymond Allan 
Howard

Current

13 Aug 1955

49 Wilcox Drive, 
Melton Mowbray, Leicestershire LE13 1HH

10 Sep 2001

NA

Current:9
Previous:0
Disqualifications:0

 

Susan Elizabeth 
Stoneman

Previous

NA

124 Rothwell Road, Desborough,
Kettering, Northamptonshire NN14 2NT

01 Sep 1997

08 Jan 1998

Current:0
Previous:78
Disqualifications:0

 

David 
Madley

Previous

18 Dec 1936

Rose Cottage, 9 Fishpond Lane, 
Nottingham, Nottinghamshire NG13 0HG

NA

07 Sep 2001

Current:0
Previous:13
Disqualifications:0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate Secretaries

 

There are no corporate secretaries for this company.

 

Individual Shareholders

 

There are no individual shareholders for this company.

 

 

 

 

 

 

 

 

 

 

Corporate Shareholders

 

Company Name

Registration Number

Share Details 
(As Reported)

Share Type

# of Shares

Share Price (GBP)

Share Value (GBP)

% of Total Shares

Slack & Parr (Investments) Ltd

00147954

6000000 Ordinary GBP 1.00

Ordinary

6,000,000

1.00

6,000,000.00

100.00

 

 

 

 

 

Annual Profit & Loss

 

Financials in: USD (mil) 

Except for share items (millions) and per share items (actual units)           

 

 

 

31-Mar-2011

31-Mar-2010

31-Mar-2009

31-Mar-2008

31-Mar-2007

Period Length

52 Weeks

52 Weeks

52 Weeks

52 Weeks

52 Weeks

Filed Currency

GBP

GBP

GBP

GBP

GBP

Exchange Rate (Period Average)

0.643394

0.627794

0.592803

0.498361

0.528925

Consolidated

No

No

No

No

No

 

 

 

 

 

 

Turnover (UK)

4.6

6.0

7.8

7.2

6.4

Turnover (Exports)

10.2

8.5

10.2

12.9

9.7

Total Turnover

14.8

14.5

17.9

20.1

16.0

Total Expenses

17.4

16.5

19.0

20.9

18.5

Depreciation

0.8

0.9

1.0

1.3

1.3

Other Income

0.3

0.2

1.2

0.3

0.8

Interest Paid

0.0

0.0

0.0

0.1

0.1

Exceptional Income

0.0

0.0

0.0

0.0

0.0

Discontinued Operations

0.0

0.0

0.0

0.0

0.0

Profit Before Taxes

-2.3

-1.8

0.1

-0.7

-1.7

Tax Payable / Credit

0.0

0.0

0.0

0.0

0.0

Extraordinary Items/Debits

0.0

0.0

0.0

0.0

0.0

Dividends

0.0

0.0

0.0

0.0

0.0

Profit After Taxes

-2.3

-1.8

0.1

-0.7

-1.7

Minority Interests (Profit & Loss)

0.0

0.0

0.0

0.0

0.0

Audit Fees

0.0

0.0

0.0

0.0

0.0

Non Audit Fees

0.0

0.0

0.0

0.0

0.0

Number of Employees

202

194

199

197

196

Wages

7.5

6.7

7.7

8.8

7.8

Social Security Costs

0.7

0.7

0.8

0.8

0.6

Pensions

-

-

-

0.0

0.0

Other Pension Costs

0.5

0.7

0.7

0.8

0.8

Employees Remuneration

8.8

8.0

9.2

10.4

9.2

Directors Emoluments

-

-

-

0.4

0.3

Other Costs

-

-

-

0.0

0.0

Directors Remuneration

0.4

0.4

0.5

0.4

0.3

Highest Paid Director

0.2

0.2

0.2

0.2

-

 

Annual Balance Sheet

 

Financials in: USD (mil)

 

 

 

31-Mar-2011

31-Mar-2010

31-Mar-2009

31-Mar-2008

31-Mar-2007

Filed Currency

GBP

GBP

GBP

GBP

GBP

Exchange Rate

0.62385

0.659239

0.697666

0.503145

0.509853

Consolidated

No

No

No

No

No

 

 

 

 

 

 

Land & Buildings

0.0

0.0

0.0

0.0

0.0

Fixtures & Fittings

0.1

0.1

0.1

0.2

0.2

Plant & Vehicles

4.0

3.4

3.8

5.4

5.7

Total Tangible Fixed Assets

4.0

3.5

3.9

5.6

5.9

Intangible Assets

0.0

0.0

0.0

0.0

0.0

Investments

0.0

0.0

0.0

0.0

0.0

Total Fixed Assets

4.0

3.5

3.9

5.6

5.9

Stocks

2.0

2.4

3.2

3.4

3.3

Work in Progress

2.0

1.0

1.7

2.3

2.1

Total Stocks Work In Progress

4.0

3.5

4.9

5.6

5.4

Trade Debtors

2.5

3.1

2.0

3.4

3.1

Inter-Company Debtors

0.8

0.4

0.6

0.4

0.4

Other Debtors

0.4

0.1

0.1

0.3

0.4

Total Debtors

3.7

3.6

2.8

4.2

3.9

Cash and Equivalents

0.3

0.0

0.0

0.1

0.1

Other Current Assets

0.0

0.0

0.0

0.0

0.0

Total Current Assets

8.0

7.1

7.7

9.9

9.4

Total Assets

12.1

10.5

11.6

15.4

15.3

Trade Creditors

1.5

1.0

1.0

1.9

2.1

Bank Overdraft

0.4

0.8

0.7

1.1

1.4

Inter-Company Creditors

6.9

4.7

4.0

5.0

3.9

Total Short Term Loans

0.1

0.0

0.3

-

-

Accruals/Deferred Income (Current Liability)

0.1

0.1

0.1

0.1

0.1

Social Security/VAT

0.7

0.7

0.3

0.3

0.5

Other Current Liabilities

1.7

0.5

1.0

0.8

0.2

Total Current Liabilities

11.4

7.7

7.3

9.2

8.2

Group Loans (Long Term Liability)

-

0.0

0.0

0.0

0.0

Director Loans (Long Term Liability)

-

0.0

0.0

0.0

0.0

Hire Purchase (Long Term Liability)

-

0.0

0.0

0.0

0.0

Leasing (Long Term Liability)

-

0.0

0.0

0.0

0.0

Total Hire Purchase Loans (Long Term Liability)

-

0.0

0.0

0.0

0.0

Other Long Term Loans

0.1

0.0

0.0

0.3

0.7

Accruals/Deferred Income (Long Term Liability)

0.0

0.0

0.0

0.0

0.0

Other Long Term Liabilities

0.0

0.0

0.0

0.0

0.0

Total Long Term Liabilities

0.1

0.0

0.0

0.3

0.7

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

9.6

9.1

8.6

11.9

11.8

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

-9.0

-6.3

-4.3

-6.0

-5.3

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

0.6

2.8

4.3

5.9

6.4

Net Worth

0.6

2.8

4.3

5.9

6.4

 

Annual Cash Flows

Financials in: USD (mil)

 

 

 

31-Mar-2011

31-Mar-2010

31-Mar-2009

31-Mar-2008

31-Mar-2007

Period Length

52 Weeks

52 Weeks

52 Weeks

52 Weeks

52 Weeks

Filed Currency

GBP

GBP

GBP

GBP

GBP

Exchange Rate (Period Average)

0.643394

0.627794

0.592803

0.498361

0.528925

Consolidated

No

No

No

No

No

 

 

 

 

 

 

Net Cash Flow From Operating Activities

-

-

0.8

1.7

0.8

Net Cash Flow from ROI and Servicing of Finance

-

-

0.0

-0.1

0.0

Taxation

-

-

0.0

0.0

0.0

Capital Expenditures

-

-

-0.8

-0.8

-1.3

Acquisitions and Disposals

-

-

0.0

0.0

0.0

Paid Up Equity

-

-

0.0

0.0

0.0

Management of Liquid Resources

-

-

0.0

0.0

0.0

Net Cash Flow From Financing

-

-

-0.3

-0.4

0.5

Increase in Cash

-

-

-0.3

0.4

-0.1

 

 

 

Annual Ratios

Financials in: USD (mil)

 

 

 

31-Mar-2011

31-Mar-2010

31-Mar-2009

31-Mar-2008

31-Mar-2007

Period Length

52 Weeks

52 Weeks

52 Weeks

52 Weeks

52 Weeks

Filed Currency

GBP

GBP

GBP

GBP

GBP

Exchange Rate

0.62385

0.659239

0.697666

0.503145

0.509853

Consolidated

No

No

No

No

No

 

 

 

 

 

 

Current Ratio

0.71

0.91

1.06

1.07

1.15

Liquidity Ratio

0.35

0.46

0.39

0.46

0.49

Stock Turnover

3.80

3.95

3.11

3.54

3.10

Credit Period (Days)

58.96

81.50

48.44

61.87

68.26

Working Capital by Sales

-21.91%

-4.79%

2.70%

3.09%

7.25%

Trade Credit by Debtors

0.61

0.31

0.49

0.57

0.66

Return on Capital

-336.09%

-62.70%

1.53%

-10.59%

-24.72%

Return on Assets

-19.41%

-16.68%

0.57%

-4.24%

-11.51%

Profit Margin

-15.32%

-12.76%

0.43%

-3.29%

-10.58%

Return on Shareholders Funds

-379.74%

-62.70%

1.53%

-11.12%

-27.31%

Borrowing Ratio

1,213.51%

197.13%

115.27%

108.52%

93.34%

Equity Gearing

5.11%

26.60%

37.07%

38.13%

42.14%

Debt Gearing

12.99%

-

-

4.97%

10.49%

Interest Coverage

-

-

2.88

-5.77

-28.06

Sales by Tangible Assets

3.78

3.98

3.91

3.58

2.81

Average Remuneration per Employee

0.0

0.0

0.0

0.1

0.0

Profit per Employee

0.0

0.0

0.0

0.0

0.0

Sales per Employee

0.1

0.1

0.1

0.1

0.1

Capital Employed per Employee

0.0

0.0

0.0

0.0

0.0

Tangible Assets per Employee

0.0

0.0

0.0

0.0

0.0

Total Assets per Employee

0.1

0.1

0.1

0.1

0.1

Employee Remuneration by Sales

59.19%

55.58%

51.12%

51.80%

57.07%

Creditor Days (Cost of Sales Based)

35.89

25.38

23.91

35.51

45.03

Creditor Days (Sales Based)

35.89

25.38

23.91

35.51

45.03

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.73

UK Pound

1

Rs.87.26

Euro

1

Rs.69.84

 

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%)

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.