|
Report Date : |
10.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
GEOLAB INDUSTRIA FARMACÊUTICA S.A |
|
|
Registered Office : |
Via Principal 1- B - S/Nº. - Quadra 08-B - Lotes 01 A 08,0 - Bairro
Daia |
|
|
|
|
|
|
Country : |
|
|
|
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
|
|
Date of Incorporation : |
14.10.1999 |
|
|
|
|
|
|
Legal Form : |
Privately Held Corporation |
|
|
|
|
|
|
Line of Business : |
Manufacture Of Pharmaceuticals. |
|
|
|
|
|
|
No. of Employees : |
930 |
|
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 : |
Good |
|
|
|
|
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
|
Brazil |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
BRAZIL - ECONOMIC OVERVIEW
Characterized by large and well-developed agricultural, mining,
manufacturing, and service sectors, Brazil's economy outweighs that of all
other South American countries, and Brazil is expanding its presence in world
markets. Since 2003, Brazil has steadily improved its macroeconomic stability,
building up foreign reserves, and reducing its debt profile by shifting its
debt burden toward real denominated and domestically held instruments. In 2008,
Brazil became a net external creditor and two ratings agencies awarded
investment grade status to its debt. After strong growth in 2007 and 2008, the
onset of the global financial crisis hit Brazil in 2008. Brazil experienced two
quarters of recession, as global demand for Brazil's commodity-based exports
dwindled and external credit dried up. However, Brazil was one of the first
emerging markets to begin a recovery. In 2010, consumer and investor confidence
revived and GDP growth reached 7.5%, the highest growth rate in the past 25
years. Rising inflation led the authorities to take measures to cool the
economy; these actions and the deteriorating international economic situation
slowed growth to 2.7% for 2011 as a whole, though forecasts for 2012 growth are
somewhat higher. Despite slower growth in 2011, Brazil overtook the United
Kingdom as the world's seventh largest economy in terms of GDP. Urban
unemployment is at the historic low of 4.7% (December 2011), and Brazil's
traditionally high level of income inequality has declined for each of the last
12 years. Brazil's high interest rates make it an attractive destination for
foreign investors. Large capital inflows over the past several years have
contributed to the appreciation of the currency, hurting the competitiveness of
Brazilian manufacturing and leading the government to intervene in foreign
exchanges markets and raise taxes on some foreign capital inflows. President
Dilma ROUSSEFF has retained the previous administration's commitment to
inflation targeting by the central bank, a floating exchange rate, and fiscal
restraint.
Source
: CIA
GEOLAB INDUSTRIA
FARMACÊUTICA S.A
|
MAIN ADDRESS: |
VIA PRINCIPAL 1- B - S/Nº. - QUADRA 08-B - LOTES 01 A 08,0 - BAIRRO
DAIA |
|
ZIP CODE/CITY: |
75133-590 - ANÁPOLIS/GO |
|
|
|
|
PHONE: |
62 4015-4061 |
|
E-MAIL: |
keylla.gomes@geolab.com.br |
|
WEB SITE: |
www.geolab.com.br |
|
BRANCHES: |
|
NOT AVAILABLE. |
|
MAIN ACTIVITIES: |
|
MANUFACTURE OF PHARMACEUTICALS. |
|
LEGAL FORM: |
PRIVATELY HELD
CORPORATION |
|
|
|
|
INCORPORATION DATE: |
14/10/1999 |
|
REGISTER DATE: |
28/10/1999 |
|
BALANCE SHEET FILING DATE: |
31/12 |
|
TAX CONTRIBUTOR NUMBER(CNPJ): |
03.485.572/0001-04 |
|
STATE REGISTER: |
10.323.327-0 |
|
|
|
|
SHARE CAPITAL: |
R$ 24.500.000,00 |
|
BOARD OF
DIRECTORS: |
|
|
|
|
|
GEORGE HAJJAR JUNIOR |
PRESIDENT DIRECTOR |
|
RIZEK MIKHAIL HAJJAR |
DIRECTOR |
|
ANDRE LUIZ HAJJAR |
DIRECTOR |
|
AUTHORIZED USE
OF SIGNATURE: |
|
THE DIRECTORS ARE AUTHORIZED TO SIGN ON BEHALF OF THE COMPANY. |
|
SHAREHOLDERS /
PARTNERS: |
|
|
|
|
|
AMÉRICA ADMINISTRAÇÃO E PARTICIPAÇÕES LTDA |
51,00% |
|
SERRA DOURADA ADMINISTRAÇÃO E PARTICIPAÇÕES LTDA |
30,00% |
|
M-5 ADMINISTRAÇÃO E PARTICIPAÇÕES LTDA |
9,00% |
|
TRIO-H ADMINISTRAÇÃO E PARTICIPAÇÕES LTDA |
5,00% |
|
PALMARES ADMINISTRAÇÃO E PARTICIPAÇÕES LTDA |
5,00% |
|
AFFILIATES /
SUBSIDIARIES: |
|
|
A SCAN THROUGH
OUTSIDE SOURCES SHOWED THE SUBJECT AND/OR DIRECTORS HAS/HAVE THE FOLLOWING
UNCONFIRMED HOLDINGS: |
|
|
SERRA DOURADA ADMINISTRACAO E PARTICIPACOES
LTDA |
|
|
EPOCA CONSTRUTORA LTDA - EPP |
|
|
ANDISA ADMINISTRACAO E
PARTICIPACOES LTDA - EPP |
|
|
SOGAL ADMINISTRACAO E
PARTICIPACOES LTDA - EPP |
|
|
AUTO TOCANTINS COMERCIO DE
PECAS PARA VEICULOS LTDA - ME |
|
|
THE SUBJECT WAS ESTABLISHED ON OCTOBER 14, 1999 AS GEOLAB INDUSTRIA
FARMACEUTICA E COSMETICA LTDA ME TO BE ENGAGED IN THE SAID LINE OF BUSINESS.
ON OCTOBER 21, 2008 IT ALTERED TO GEOLAB INDUSTRIA FARMACEUTICA LTDA. ON JUNE
22, 2010 IT ADOPTED THE ABOVE-MENTIONED NAME. TRADE NAME: "GEOLAB". SHAREHOLDERS / PARTNERS: ANDRÉ LUIZ HAJJAR: BRAZILIAN, MARRIED, HOLDER OF DOCUMENTS CPF
617.296.121-72, RG 2.544.923 SSP/GO, RESIDENTIAL ADDRESS AT RUA 1 QUADRA 02, LOTES
01/02, APTO 800, ED. SERRA DOURADA - CIDADE JARDIM, ZIP ODE 75080-690,
ANÁPOLIS/GO; RIZEK MIKHAIL HAJJAR: BRAZILIAN, MARRIED, HOLDER OF DOCUMENTS CPF
003.045.731-91, RG 43.841 SSP/GO, RESIDENTIAL ADDRESS AT RUA 1º. DE MAIO, 26,
CENTRO, ZIP CODE 75020-050, ANÁPOLIS/GO. FURTHER DETAILS ARE SO FAR NOT KNOWN. |
|
PUBLIC
INFORMATION: |
|
LAWSUITS: |
|
|
|
|
DATE: |
COURT OF LAW: |
|
1 |
MUNICIPAL LAWSUIT |
08/11/11 |
VARA DE ITAPEVI/SP |
|
GENERAL BALANCE SHEETS
AS OF 31/12/2011, 31/12/2010 AND 31/12/2009. |
|
( FIGURES ARE IN
REAIS ). |
|
ASSETS |
|
|
|
|
CURRENT: |
31/12/2011 |
31/12/2010 |
31/12/2009 |
|
|
|
|
|
|
CASH AND CASH EQUIVALENTS |
6.825.330,51 |
12.335.543,19 |
5.659.299,80 |
|
CLIENTS |
27.659.685,25 |
20.706.969,64 |
18.075.097,73 |
|
INVENTORY |
22.883.817,37 |
12.124.795,95 |
11.281.283,07 |
|
ADVANCES |
35.644,85 |
|
268.746,13 |
|
PREPAID EXPENSES |
65.492,11 |
19.861,77 |
30.978,31 |
|
RECOVERABLE TAXES |
3.110.074,78 |
1.244.755,52 |
1.225.039,41 |
|
ACCOUNTS RECEIVABLE |
500.000,00 |
1.000.000,00 |
|
|
ADVANCE TO SUPPLIERS |
4.525.439,74 |
1.261.774,23 |
|
|
ADVANCE TO EMPLOYEES |
|
41.720,13 |
|
|
CONCESSIONAIRES |
26.760,47 |
|
|
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT ASSETS |
65.632.245,08 |
48.735.420,43 |
36.540.444,45 |
|
LONG-TERM
RECEIVABLES: |
|
|
|
|
|
|
|
|
|
INVESTMENTS |
|
315.847,89 |
333.906,81 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL LONG-TERM RECEIVABLES |
|
315.847,89 |
333.906,81 |
|
FIXED ASSETS: |
|
|
|
|
|
|
|
|
|
FIXED ASSETS |
39.865.230,91 |
27.105.394,82 |
22.006.381,64 |
|
INVESTMENTS |
310.902,48 |
|
|
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL FIXED ASSETS |
40.176.133,39 |
27.105.394,82 |
22.006.381,64 |
|
|
================ |
================ |
================ |
|
TOTAL ASSETS |
105.808.378,47 |
76.156.663,14 |
58.880.732,90 |
|
LIABILITIES: |
|
|
|
|
CURRENT: |
31/12/2011 |
31/12/2010 |
31/12/2009 |
|
|
|
|
|
|
SUPPLIERS |
6.852.720,66 |
6.658.141,19 |
5.787.214,95 |
|
LOANS AND FINANCING |
9.577.898,98 |
4.887.213,59 |
1.350.926,20 |
|
TAXES & CONTRIBUTIONS |
2.266.723,35 |
2.739.038,37 |
1.894.474,69 |
|
ACCOUNTS PAYABLE |
891.771,76 |
749.344,85 |
451.376,57 |
|
BANKING DEBTS |
|
2.646,19 |
35.920,45 |
|
PROFIT SHARING |
5.973.511,85 |
1.340.000,00 |
|
|
OTHER DEBTS |
426.335,00 |
|
7.743,50 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT LIABILITIES |
25.988.961,60 |
16.376.384,19 |
9.527.656,36 |
|
LONG TERM
LIABILITIES: |
|
|
|
|
|
|
|
|
|
LOANS AND FINANCING |
13.695.955,85 |
4.215.666,86 |
6.387.511,04 |
|
INSTALLMENTS TAXES PAYABLE |
1.036.660,14 |
1.052.084,56 |
1.077.895,64 |
|
ACCOUNTS PAYABLE |
15.993.394,68 |
15.993.394,68 |
10.680.956,24 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM LIABILITIES |
30.726.010,67 |
21.261.146,10 |
18.146.362,92 |
|
NET EQUITY: |
|
|
|
|
|
|
|
|
|
SHARE CAPITAL |
24.500.000,00 |
4.500.000,00 |
4.500.000,00 |
|
RESOURCE/INCREASE CAPITAL |
|
|
20.500.000,00 |
|
ACCRUED PROFIT (LOSS) |
|
|
6.206.713,62 |
|
LEGAL RESERVES |
1.386.196,71 |
575.621,00 |
|
|
PROFIT RESERVES |
|
33.443.511,85 |
|
|
RESERVES/TAX INCENTIVES |
5.806.271,05 |
|
|
|
PROFIT RESERVES |
17.400.938,44 |
|
|
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL NET EQUITY |
49.093.406,20 |
38.519.132,85 |
31.206.713,62 |
|
|
================ |
================ |
================ |
|
TOTAL LIABILITIES |
105.808.378,47 |
76.156.663,14 |
58.880.732,90 |
|
PROFIT AND LOSS ACCOUNTS
AS OF 31/12/2011, 31/12/2010 AND 31/12/2009. |
|
( FIGURES ARE IN
REAIS ). |
|
|
31/12/2011 |
31/12/2010 |
31/12/2009 |
|
|
|
|
|
|
GROSS SALES |
129.505.876,60 |
116.414.839,81 |
85.008.028,12 |
|
(-) TAXES ON SALES |
19.966.950,58 |
16.211.440,95 |
11.807.875,13 |
|
|
---------------- |
---------------- |
---------------- |
|
NET SALES |
109.538.926,02 |
100.203.398,86 |
73.200.152,99 |
|
(-) COST OF SOLD GOODS |
51.874.170,42 |
57.717.417,49 |
48.328.320,50 |
|
|
---------------- |
---------------- |
---------------- |
|
GROSS PROFIT |
57.664.755,60 |
42.485.981,37 |
24.871.832,49 |
|
OPERATING REVENUE (EXPENSE) |
-34.846.197,50 |
-24.329.643,94 |
-14.067.618,75 |
|
FINANCIAL REVENUE(EXPENSE) |
-1.291.725,36 |
-835.020,29 |
-1.171.085,60 |
|
|
---------------- |
---------------- |
---------------- |
|
OPERATIONAL PROFIT (LOSS) |
21.526.832,74 |
17.321.317,14 |
9.633.128,14 |
|
NON-OPERATING RESULT |
5.806.271,05 |
242.499,88 |
|
|
CONTRIBUTION/INCOME TAX |
-5.315.318,59 |
-6.051.397,79 |
-3.251.263,58 |
|
|
---------------- |
---------------- |
---------------- |
|
NET PROFIT (LOSS) |
22.017.785,20 |
11.512.419,23 |
6.381.864,56 |
|
RATIOS: |
31/12/2011 |
31/12/2010 |
31/12/2009 |
|
QUICK RATIO |
1,64 |
|
2,24 |
|
2,65 |
|
|
CURRENT RATIO |
2,53 |
|
2,98 |
|
3,84 |
|
|
ACCOUNTS RECEIVABLE TURNOVER |
3,96 |
TIMES |
4,84 |
TIMES |
4,05 |
TIMES |
|
DAYS' SALES IN RECEIVABLES |
90,90 |
DAYS |
74,39 |
DAYS |
88,89 |
DAYS |
|
INVENTORY TURNOVER |
2,27 |
TIMES |
4,76 |
TIMES |
4,28 |
TIMES |
|
ACCOUNTS PAYABLE PERIOD |
47,56 |
DAYS |
41,53 |
DAYS |
43,11 |
DAYS |
|
RETURN ON ASSETS |
1,04 |
TIMES |
1,32 |
TIMES |
1,24 |
TIMES |
|
SALES TURNOVER ON NET EQUITY |
2,23 |
TIMES |
2,60 |
TIMES |
2,35 |
TIMES |
|
NET WORTH TIE-UP |
,81 |
|
,70 |
|
,71 |
|
|
INDEBTEDNESS |
1,16 |
|
,98 |
|
,89 |
|
|
EQUITY RATIO |
46,40 |
% |
50,58 |
% |
53,00 |
% |
|
WORKING CAPITAL RATIO |
152,54 |
% |
197,60 |
% |
283,52 |
% |
|
GENERAL SOLVENCY |
1,87 |
|
2,02 |
|
2,13 |
|
|
RETURN ON NET EQUITY |
44,85 |
% |
29,89 |
% |
20,45 |
% |
|
RETURN ON SALES (PROFIT MARGIN) |
20,10 |
% |
11,49 |
% |
8,72 |
% |
|
GROSS PROFIT MARGIN |
52,64 |
% |
42,40 |
% |
33,98 |
% |
|
OPERATIONAL RESULT |
19,65 |
% |
17,29 |
% |
13,16 |
% |
|
SALES TURNOVER ON LIABILITIES |
4,21 |
TIMES |
6,12 |
TIMES |
7,68 |
TIMES |
|
FOREIGN CURRENCY ON ASSETS |
|
|
|
|
|
|
|
FOREIGN CURRENCY ON LIABILITIES |
|
|
|
|
|
|
|
EXCHANGE RATE: |
|
|
US$ 1,00 = R$ 2,03 |
- OFFICIAL RATE ON 07/11/2012 |
|
US$ 1,00 = R$ 1,87 |
- OFFICIAL RATE ON 31/12/2011 |
|
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 FIGURES AVAILABLE SHOW A SATISFACTORY FINANCIAL STANDING. THE
LEVEL OF INDEBTEDNESS IS HIGH BUT IT IS NOTED GOOD LIQUIDITY RATIOS AND
POSITIVE WORKING CAPITAL AMOUNT. IN ADDITION IT SHOWS GROWING SALES AND
PROFITABILITY. |
|
REAL ESTATE: |
OWNED PREMISES ARE VALUED AT R$
14.552.515,04
|
VEHICLES: |
OWNED VEHICLES ARE VALUED AT R$
133.676,51
|
MACHINES: |
OWNED MACHINES AND EQUIPMENTS ARE
VALUED AT R$ 7.596.757,60
|
NOT AVAILABLE. |
|
|
BRANCH/PHONE: |
CITY: |
|
BANCO BRADESCO S/A |
3684-6 / 62 3324-9118 |
GOIÂNIA/GO |
|
BANCO DO BRASIL S/A |
03388-X / 62 3311-1633 |
GOIÂNIA/GO |
|
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"). |
|
THE SUBJECT IS ENGAGED IN THE MANUFACTURE OF PHARMACEUTICALS. |
|
IMPORT AND
EXPORT: |
IMPORTS FROM:
|
NOT AVAILABLE. |
EXPORTS TO:
|
NOT AVAILABLE. |
|
MAIN CLIENTS: |
|
|
|
|
|
|
|
DOMESTIC
CLIENTS: |
|
|
|
NOT AVAILABLE. |
|
|
|
STAFF: |
|
|
|
THE COMPANY HAS: 930 EMPLOYEE(S) |
|
THE SUBJECT WAS ESTABLISHED IN 1999 BUT REMAINED DORMANT UNTIL SEPTEMBER
2004, WHEN IT STARTED OPERATING EFFECTIVELY. SO FAR IT OPERATES WITH GROWING
SCALE OF ACTIVITIES, A CLEAR TRADE HISTORY ANO GOOD PAYMENT BEHAVIOR. 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 LAWSUIT
REPORTED IS NOT RELATED WITH TRADE DEBT. IT IS RELATED TO TAX DEBT THAT FOR
ANY REASON THE COMPANY HAS NOT YET PAID. NEVERTHELESS WE POINT OUT THAT THE
SAID LAWSUIT DOES NOT AFFECT THE COMPANY’S TRADE REPUTATION. |
|
MAIN SUPPLIERS: |
|
|
|
|
|
|
|
DOMESTIC
SUPPLIERS: |
|
PHONE: |
|
CARTOGRAFICA FENIX LTDA |
|
31 3361-6199 |
|
COLORCON DO BRASIL LTDA |
|
11 4612-4262 |
|
EMBALAGENS ALLBOX LTDA |
|
62 3311-4728 |
|
GALENA INDÚSTRIA QUIMICA FARMACEUTICA LTDA |
|
19 3746-7730 |
|
GÊNIX INDÚSTRIA FARMACÊUTICA LTDA |
|
0800-105008 |
|
GLOBE QUIMICA LTDA |
|
|
|
KLOCKER PENTAPLAST DO BRASIL |
|
11 4613-9976 |
|
PHARMA NOSTRA COMERCIAL LTDA |
|
0800-7724880 |
|
PAYMENT HISTORY: |
|
12 SUPPLIERS REPORTED PAYMENTS: |
|
TOTAL AMOUNT: R$ 780.285,00 |
|
|
|
AMOUNT OF INVOICES PAID: 119 |
|
TOTAL OF PROMPT PAYMENTS: 100% |
|
HIGHEST INVOICE: R$ 64.115,00 |
|
HIGHEST CREDIT: R$ 64.115,00 |
|
|
|
OUTSTANDING
INVOICES DUE WITHIN THE NEXT 30 DAYS: |
|
--------------------------- |
SUPPLIERS: |
INVOICES: |
TOTAL AMOUNT: |
|
DUE WITHIN 30 DAYS |
1 |
1 |
R$ 26,00 |
|
THE SUBJECT WAS ESTABLISHED IN 1999 BUT REMAINED DORMANT UNTIL 2004.
SO FAR IT OPERATES WITH A GROWING SCALE OF ACTIVITIES AND FAVORABLE TRADE
HISTORY. 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. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.34 |
|
|
1 |
Rs.86.97 |
|
Euro |
1 |
Rs.69.43 |
INFORMATION DETAILS
|
Report
Prepared by : |
SDA |
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.