MIRA
INFORM REPORT
|
Report Date : |
28.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
SEASALT LTD. |
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Formerly Known
as: |
General Clothing Stores Ltd. |
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Registered Office : |
Unit 8 |
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Country : |
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|
Financials (as on) : |
31.01.2013 |
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Date of Incorporation : |
18.05.1988 |
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Com. Reg. No.: |
02259954 |
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Legal Form : |
Private
Subsidiary Company |
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Line of Business : |
Engaged in
design and production of clothing and the operation of retail, internet and
wholesale sales channels. |
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No. of Employees : |
214 |
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 |
|
Maximum Credit Limit : |
USD 2,95,000 |
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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 – September 30th, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
United Kingdom |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
United Kingdom ECONOMIC OVERVIEW
The UK, a
leading trading power and financial center, is the second largest economy in
Europe after Germany. Over the past two decades, the government has greatly
reduced public ownership and contained the growth of social welfare programs.
Agriculture is intensive, highly mechanized, and efficient by European
standards, producing about 60% of food needs with less than 2% of the labor
force. The UK has large coal, natural gas, and oil resources, but its oil and
natural gas reserves are declining and the UK became a net importer of energy
in 2005. Services, particularly banking, insurance, and business services,
account by far for the largest proportion of GDP while industry continues to
decline in importance. After emerging from recession in 1992, Britain's economy
enjoyed the longest period of expansion on record during which time growth outpaced
most of Western Europe. In 2008, however, the global financial crisis hit the
economy particularly hard, due to the importance of its financial sector.
Sharply declining home prices, high consumer debt, and the global economic
slowdown compounded Britain's economic problems, pushing the economy into
recession in the latter half of 2008 and prompting the then BROWN (Labour)
government to implement a number of measures to stimulate the economy and
stabilize the financial markets; these include nationalizing parts of the
banking system, temporarily cutting taxes, suspending public sector borrowing
rules, and moving forward public spending on capital projects. Facing
burgeoning public deficits and debt levels, in 2010 the CAMERON-led coalition
government (between Conservatives and Liberal Democrats) initiated a five-year
austerity program, which aimed to lower London's budget deficit from over 10%
of GDP in 2010 to nearly 1% by 2015. In November 2011, Chancellor of the
Exchequer George OSBORNE announced additional austerity measures through 2017
because of slower-than-expected economic growth and the impact of the euro-zone
debt crisis. The CAMERON government raised the value added tax from 17.5% to
20% in 2011. It has pledged to reduce the corporation tax rate to 21% by 2014.
The Bank of England (BoE) implemented an asset purchase program of up to £375
billion (approximately $605 billion) as of December 2012. During times of
economic crisis, the BoE coordinates interest rate moves with the European Central
Bank, but Britain remains outside the European Economic and Monetary Union
(EMU). In 2012, weak consumer spending and subdued business investment weighed
on the economy. GDP fell 0.1%, and the budget deficit remained stubbornly high
at 7.7% of GDP. Public debt continued to increase.
|
Source : CIA |
Company
name & address
Seasalt Ltd.
1-3 Adelaide
Street
Penzance, TR18
2ES
United Kingdom
Tel: 44 1736364369
Web: www.halenmon.com
synthesis
Employees: 214
Company Type: Private
Subsidiary
Corporate Family: 5 Companies
Ultimate Parent: Chadwick Brothers Ltd.
Quoted Status: Non-quoted
Company
Incorporation
Date: 18-May-1988
Auditor: Walker
Moyle
Financials in: USD (Millions)
Fiscal Year End: 31-Jan-2013
Reporting
Currency: British Pound Sterling
Annual Sales: 25.3 1
Net Income: 1.4
Total Assets: 12.0
Credit Limit : USD 2,95,000
Business
Description
Design and production
of clothing and the operation of retail, internet and wholesale sales channels.
Industry
Industry Clothing and Apparel Wholesale
ANZSIC 2006: 371 - Textile, Clothing and Footwear
Wholesaling
ISIC Rev 4: 4641 - Wholesale of textiles, clothing
and footwear
NACE Rev 2: 4642 - Wholesale of clothing and footwear
NAICS 2012: 4243 - Apparel, Piece Goods, and Notions
Merchant Wholesalers
UK SIC 2007: 4642 - Wholesale of clothing and footwear
US SIC 1987: 513 - Apparel, Piece Goods, and Notions
Key
Executives
|
Name |
Title |
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Director, Secretary |
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|
Director |
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|
Director |
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|
Michael John Simpson |
Director |
Financial Summary
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1 - Profit &
Loss Item Exchange Rate: USD 1 = GBP 0.6294872
2 - Balance Sheet
Item Exchange Rate: USD 1 = GBP 0.6332317
Corporate
Overview
Location
1-3 Adelaide
Street
Penzance, TR18 2ES
Cornwall County
United Kingdom
Tel: 44
1736364369
Web: www.halenmon.com
Sales GBP(mil): 15.9
Assets GBP(mil): 7.6
Employees: 214
Fiscal Year End: 31-Jan-2013
Industry: Apparel and Accessories
Registered Address:
Unit 8 Falmouth Business
Park
Bickland Water
Road
Falmouth, TR11
4SZ
United Kingdom
Incorporation Date: 18-May-1988
Company Type: Private
Subsidiary
Quoted Status: Not
Quoted
Previous Name: General
Clothing Stores Ltd.
Registered No.(UK): 02259954
Director, Secretary: Leigh George Chadwick
Industry Codes
ANZSIC 2006 Codes:
371 - Textile, Clothing and Footwear
Wholesaling
4279 - Other Store-Based Retailing Not
Elsewhere Classified
4251 - Clothing Retailing
ISIC Rev 4 Codes:
4641 - Wholesale of textiles, clothing and
footwear
4771 - Retail
sale of clothing, footwear and leather articles in specialized stores
4719 - Other
retail sale in non-specialized stores
NACE Rev 2 Codes:
4642 - Wholesale
of clothing and footwear
4771 - Retail
sale of clothing in specialised stores
4772 - Retail
sale of footwear and leather goods in specialised stores
4719 - Other
retail sale in non-specialised stores
NAICS 2012 Codes:
4243 - Apparel,
Piece Goods, and Notions Merchant Wholesalers
448120 - Women's
Clothing Stores
448 - Clothing
and Clothing Accessories Stores
4451 - Grocery
Stores
US SIC 1987:
513 - Apparel,
Piece Goods, and Notions
59 - Miscellaneous
Retail
5651 - Family
Clothing Stores
5399 - Miscellaneous
General Merchandise Stores
UK SIC 2007:
4642 - Wholesale
of clothing and footwear
4771 - Retail
sale of clothing in specialised stores
4772 - Retail
sale of footwear and leather goods in specialised stores
4719 - Other
retail sale in non-specialised stores
Business Description
Design and
production of clothing and the operation of retail, internet and wholesale
sales channels.
More Business Descriptions
Family clothing
stores
We believe that
Halen Mon is vital ingredient in any food lovers life. Its a truly unique
product, made using craft, care and the best that the natural environment has
to offer.
Salt is a basic
necessity for life. We believe Halen Mon is a basic necessity in life anyone
which loves food. Our unique mix of family, environment, trade and technology
have proven to be extremely successful at every level of production to the
enjoyment.
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Corporate Family |
Corporate
Structure News: |
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Chadwick
Brothers Ltd. |
|
Seasalt Ltd. |
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
|
|
Parent |
Falmouth |
United Kingdom |
Grocery Stores |
25.3 |
214 |
|
|
|
Subsidiary |
Penzance |
United Kingdom |
Clothing and Apparel Wholesale |
25.3 |
214 |
|
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Subsidiary |
Falmouth |
United Kingdom |
Miscellaneous Professional Services |
|
25 |
|
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|
UK Branch/Trading address |
Fowey |
United Kingdom |
Clothing and Apparel Stores |
25.3 |
3 |
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Subsidiary |
Falmouth |
United Kingdom |
Residential Real Estate Leasing |
|
25 |
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Executive report
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Board of
Directors |
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Director, Secretary |
Director/Board Member |
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Director |
Director/Board Member |
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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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Director, Secretary |
Company Secretary |
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Directors
and Shareholders Report
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Main Office Address: |
Tel: 44 1736364369 |
Annual Return Date: 23 Nov 2012 |
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Individual Directors |
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|
Name |
Status |
DOB |
Filed Address |
Appointment Date |
Resignation Date |
Summary of Directorships |
|
|
Current |
16 Jun 1957 |
215 Little Aston Road, Aldridge, |
31 Jul 2001 |
NA |
Current:10 |
|
|
|
Current |
20 Dec 1958 |
Mill Barn, Sheriffs Lench, |
01 Mar 2013 |
NA |
Current:2 |
|
|
|
Current |
01 Jun 1966 |
White Wings, Harbour Terrace, |
31 Jul 2001 |
NA |
Current:4 |
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|
|
Current |
06 Nov 1958 |
Boskelly, Trencrom Lane Carbis Bay, |
31 Jul 2001 |
NA |
Current:4 |
|
|
|
Previous |
NA |
The Haven, Westward Road, |
30 Nov 1991 |
12 Dec 2008 |
Current:0 |
|
|
|
Previous |
14 Sep 1925 |
The Haven Westward Road, |
30 Nov 1991 |
06 Oct 2001 |
Current:0 |
|
|
|
Previous |
11 May 1955 |
Unit 8 Falmouth Business Park, Bickland Water Road, |
01 Feb 2010 |
17 Jul 2013 |
Current:0 |
|
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|
Previous |
22 Dec 1971 |
2 Adelaide Street, Penzance, |
01 Feb 2010 |
04 Dec 2012 |
Current:0 |
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Corporate Directors |
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There are no corporate directors for this company. |
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Individual Secretaries |
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Name |
Status |
DOB |
Filed Address |
Appointment Date |
Resignation Date |
Summary of Directorships |
|
|
Current |
16 Jun 1957 |
215 Little Aston Road, Aldridge, |
30 Nov 1991 |
NA |
Current:10 |
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Corporate Secretaries |
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There are no corporate secretaries for this company. |
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Individual Shareholders |
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There are no individual shareholders for this company. |
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Corporate Shareholders |
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Company Name |
Registration Number |
Share Details |
Share Type |
# of Shares |
Share Price (GBP) |
Share Value (GBP) |
% of Total Shares |
|
04512575 |
168110 A Ordinary (Voting) GBP 1.00 |
A Ordinary (Voting) |
168,110 |
1.00 |
168,110.00 |
68.05 |
|
|
04512575 |
54458 B Ordinary (Non-Voting) GBP 5.00 |
B Ordinary (Non-Voting) |
54,458 |
5.00 |
272,290.00 |
22.04 |
|
|
04512575 |
24465 Redeemable Preference GBP 20.00 |
Redeemable Preference |
24,465 |
20.00 |
489,300.00 |
9.90 |
|
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Annual Profit
& Loss
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Jan-2013 |
31-Jan-2012 |
31-Jan-2011 |
31-Jan-2010 |
31-Jan-2009 |
|
Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
|
Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate
(Period Average) |
0.629487 |
0.624696 |
0.648787 |
0.635292 |
0.558389 |
|
Consolidated |
No |
No |
No |
No |
No |
|
|
|
|
|
|
|
|
Total Turnover |
25.3 |
18.2 |
14.3 |
- |
- |
|
Cost of Sales |
13.2 |
9.8 |
7.2 |
- |
- |
|
Gross Profit |
12.1 |
8.3 |
7.1 |
5.8 |
4.1 |
|
Depreciation |
0.5 |
0.4 |
0.3 |
0.4 |
0.3 |
|
Other Expenses |
10.6 |
7.8 |
6.0 |
4.3 |
4.6 |
|
Operating Profit |
- |
- |
- |
1.5 |
-0.5 |
|
Other Income |
0.4 |
0.1 |
0.0 |
0.0 |
0.0 |
|
Interest Paid |
0.0 |
0.0 |
0.1 |
0.1 |
0.2 |
|
Exceptional Income |
0.0 |
0.0 |
-1.6 |
0.0 |
0.0 |
|
Discontinued Operations |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Profit Before Taxes |
1.8 |
0.6 |
-0.5 |
1.4 |
-0.7 |
|
Tax Payable / Credit |
0.4 |
0.2 |
0.3 |
0.4 |
-0.1 |
|
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 |
1.4 |
0.5 |
-0.8 |
1.0 |
-0.6 |
|
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 |
|
Number of Employees |
214 |
185 |
163 |
118 |
105 |
|
Wages |
5.1 |
4.1 |
3.2 |
2.5 |
2.5 |
|
Social Security Costs |
0.3 |
0.3 |
0.2 |
0.2 |
0.2 |
|
Pensions |
0.2 |
0.1 |
- |
0.2 |
- |
|
Other Pension Costs |
0.2 |
0.1 |
0.3 |
0.2 |
0.0 |
|
Employees Remuneration |
5.6 |
4.4 |
3.7 |
2.8 |
2.7 |
|
Directors Emoluments |
0.5 |
- |
- |
0.2 |
- |
|
Other Costs |
0.0 |
0.4 |
- |
0.0 |
- |
|
Directors Remuneration |
0.7 |
0.5 |
0.7 |
0.4 |
0.2 |
|
Highest Paid Director |
0.2 |
0.1 |
0.2 |
- |
- |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Jan-2013 |
31-Jan-2012 |
31-Jan-2011 |
31-Jan-2010 |
31-Jan-2009 |
|
Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate |
0.633232 |
0.637517 |
0.624317 |
0.624064 |
0.717437 |
|
Consolidated |
No |
No |
No |
No |
No |
|
|
|
|
|
|
|
|
Land & Buildings |
- |
- |
- |
4.5 |
4.0 |
|
Fixtures & Fittings |
- |
- |
- |
0.6 |
0.6 |
|
Plant & Vehicles |
- |
- |
- |
0.0 |
0.0 |
|
Total Tangible Fixed Assets |
2.7 |
2.0 |
1.7 |
5.1 |
4.6 |
|
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 |
2.7 |
2.0 |
1.7 |
5.1 |
4.6 |
|
Stocks |
6.9 |
5.6 |
4.4 |
3.2 |
3.0 |
|
Work in Progress |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Stocks Work In Progress |
6.9 |
5.6 |
4.4 |
3.2 |
3.0 |
|
Trade Debtors |
1.1 |
0.5 |
0.3 |
0.4 |
0.1 |
|
Inter-Company Debtors |
0.0 |
0.0 |
0.1 |
- |
- |
|
Other Debtors |
0.4 |
0.5 |
0.4 |
0.3 |
0.2 |
|
Total Debtors |
1.5 |
1.0 |
0.7 |
0.7 |
0.3 |
|
Cash and Equivalents |
0.9 |
0.1 |
1.2 |
0.2 |
0.7 |
|
Other Current Assets |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Current Assets |
9.3 |
6.6 |
6.3 |
4.2 |
4.1 |
|
Total Assets |
12.0 |
8.6 |
7.9 |
9.3 |
8.6 |
|
Trade Creditors |
2.2 |
2.1 |
1.5 |
1.1 |
1.8 |
|
Bank Overdraft |
0.1 |
1.0 |
1.1 |
0.1 |
0.9 |
|
Inter-Company Creditors |
0.1 |
- |
- |
- |
- |
|
Director Loans (Current Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.1 |
|
Accruals/Deferred Income (Current Liability) |
0.3 |
0.1 |
0.1 |
0.2 |
0.1 |
|
Social Security/VAT |
0.1 |
0.1 |
0.1 |
0.3 |
0.2 |
|
Corporation Tax |
0.4 |
0.2 |
0.3 |
- |
- |
|
Other Current Liabilities |
0.4 |
0.3 |
0.3 |
0.2 |
0.1 |
|
Total Current Liabilities |
3.7 |
3.7 |
3.4 |
1.9 |
3.2 |
|
Group Loans (Long Term Liability) |
- |
- |
0.0 |
- |
0.0 |
|
Director Loans (Long Term Liability) |
- |
- |
0.0 |
- |
0.3 |
|
Hire Purchase (Long Term Liability) |
- |
- |
0.0 |
- |
0.0 |
|
Leasing (Long Term Liability) |
- |
- |
0.0 |
- |
0.0 |
|
Total Hire Purchase Loans (Long Term Liability) |
- |
- |
0.0 |
- |
0.0 |
|
Other Long Term Loans |
2.3 |
0.3 |
0.4 |
1.9 |
1.7 |
|
Accruals/Deferred Income (Long Term Liability) |
0.0 |
0.0 |
0.0 |
- |
0.0 |
|
Other Long Term Liabilities |
0.0 |
0.0 |
0.0 |
0.4 |
0.0 |
|
Total Long Term Liabilities |
2.3 |
0.3 |
0.4 |
2.3 |
2.0 |
|
Deferred Taxation |
0.1 |
0.1 |
0.1 |
0.1 |
0.0 |
|
Other Provisions |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Provisions |
0.1 |
0.1 |
0.1 |
0.1 |
0.0 |
|
Issued Capital |
1.5 |
1.5 |
1.5 |
0.8 |
0.7 |
|
Share Premium Accounts |
0.0 |
0.0 |
0.0 |
0.7 |
0.6 |
|
Revaluation Reserve |
0.0 |
0.0 |
0.0 |
1.3 |
1.2 |
|
Retained Earnings |
4.5 |
3.0 |
2.6 |
2.2 |
1.0 |
|
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 |
5.9 |
4.5 |
4.1 |
5.0 |
3.5 |
|
Net Worth |
5.9 |
4.5 |
4.1 |
5.0 |
3.5 |
Annual Cash Flows
Financials in: USD (mil)
|
|
31-Jan-2013 |
31-Jan-2012 |
31-Jan-2011 |
31-Jan-2010 |
31-Jan-2009 |
|
Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
|
Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate
(Period Average) |
0.629487 |
0.624696 |
0.648787 |
0.635292 |
0.558389 |
|
Consolidated |
No |
No |
No |
No |
No |
|
|
|
|
|
|
|
|
Net Cash Flow From Operating Activities |
- |
- |
- |
0.7 |
-0.7 |
|
Net Cash Flow from ROI and Servicing of Finance |
- |
- |
- |
-0.1 |
-0.2 |
|
Taxation |
- |
- |
- |
0.0 |
0.0 |
|
Capital Expenditures |
- |
- |
- |
-0.2 |
-1.0 |
|
Acquisitions and Disposals |
- |
- |
- |
0.0 |
0.0 |
|
Paid Up Equity |
- |
- |
- |
0.0 |
0.0 |
|
Management of Liquid Resources |
- |
- |
- |
0.0 |
0.0 |
|
Net Cash Flow From Financing |
- |
- |
- |
-0.1 |
2.1 |
|
Increase in Cash |
- |
- |
- |
0.3 |
0.2 |
Annual Ratios
Financials in: USD (mil)
|
|
31-Jan-2013 |
31-Jan-2012 |
31-Jan-2011 |
31-Jan-2010 |
31-Jan-2009 |
|
Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
|
Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate |
0.633232 |
0.637517 |
0.624317 |
0.624064 |
0.717437 |
|
Consolidated |
No |
No |
No |
No |
No |
|
|
|
|
|
|
|
|
Current Ratio |
2.53 |
1.76 |
1.88 |
2.19 |
1.29 |
|
Liquidity Ratio |
0.65 |
0.27 |
0.56 |
0.49 |
0.32 |
|
Stock Turnover |
365.00 |
319.00 |
338.00 |
- |
- |
|
Credit Period (Days) |
1,664.00 |
992.00 |
633.00 |
- |
- |
|
Working Capital by Sales |
2,234.00% |
1,606.00% |
1,977.00% |
- |
- |
|
Trade Credit by Debtors |
196.00 |
429.00 |
585.00 |
279.00 |
2,036.00 |
|
Return on Capital |
2,155.00% |
1,249.00% |
-1,161.00% |
1,863.00% |
-1,017.00% |
|
Return on Assets |
1,493.00% |
705.00% |
-671.00% |
1,482.00% |
-645.00% |
|
Profit Margin |
709.00% |
340.00% |
-359.00% |
- |
- |
|
Return on Shareholders Funds |
3,009.00% |
1,353.00% |
-1,299.00% |
2,762.00% |
-1,607.00% |
|
Borrowing Ratio |
4,219.00% |
2,826.00% |
3,593.00% |
4,120.00% |
8,530.00% |
|
Equity Gearing |
4,962.00% |
5,209.00% |
5,168.00% |
5,365.00% |
4,016.00% |
|
Debt Gearing |
38.17% |
6.06% |
9.22% |
38.36% |
57.98% |
|
Interest Coverage |
3,925.00 |
3,481.00 |
-993.00 |
1,031.00 |
-429.00 |
|
Sales by Tangible Assets |
945.00 |
895.00 |
899.00 |
- |
- |
|
Average Remuneration per Employee |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Profit per Employee |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Sales per Employee |
0.1 |
0.1 |
0.1 |
- |
- |
|
Capital Employed per Employee |
0.0 |
0.0 |
0.0 |
0.1 |
0.1 |
|
Tangible Assets per Employee |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Assets per Employee |
0.1 |
0.0 |
0.0 |
0.1 |
0.1 |
|
Employee Remuneration by Sales |
2,223.00% |
2,445.00% |
2,572.00% |
- |
- |
|
Creditor Days (Cost of Sales Based) |
6,244.00 |
7,845.00 |
7,341.00 |
- |
- |
|
Creditor Days (Sales Based) |
3,258.00 |
4,253.00 |
3,702.00 |
- |
- |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.06 |
|
UK Pound |
1 |
Rs.102.03 |
|
Euro |
1 |
Rs.85.27 |
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.