MIRA
INFORM REPORT
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Report Date : |
25.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
VELJI BHOVAN & SONS (TRADING) LTD. |
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Registered Office : |
Vb House, Woodside End, Alperton, Wembley,
HA0 1UR |
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Country : |
United Kingdom |
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Financials (as on) : |
31.07.2012 |
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Date of Incorporation : |
22.11.2002 |
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Com. Reg. No.: |
04598252 |
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Legal Form : |
Private Parent Company |
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Line of Business : |
Wholesaler and retailer of groceries and provisions. |
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No. of Employees : |
210 |
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 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
United Kingdom |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
|
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 |
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.
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Source : CIA |
Company name & address
Velji Bhovan & Sons (Trading) Ltd.
Vb House
Woodside End
Alperton
Wembley, HA0 1UR
United Kingdom
Tel: 020 8900 1355
Synthesis
Employees: 210
Company Type: Private Parent
Corporate Family: 2
Companies
Quoted Status: Non-quoted Company
Incorporation Date:
22-Nov-2002
Auditor: Rdp Newmans LLP
Financials in: USD
(Millions)
Fiscal Year End:
31-Jul-2012
Reporting Currency: British
Pound Sterling
Annual Sales: 60.2
1
Net Income: 2.8
Total Assets: 33.8
Business Description
Wholesale and retail of groceries and provisions.
Industry
Industry Grocery Wholesale
ANZSIC 2006: 3609 - Other
Grocery Wholesaling
ISIC Rev 4: 4630 -
Wholesale of food, beverages and tobacco
NACE Rev 2: 4639 -
Non-specialised wholesale of food, beverages and tobacco
NAICS 2012: 424490 - Other
Grocery and Related Products Merchant Wholesalers
UK SIC 2007: 4639 -
Non-specialised wholesale of food, beverages and tobacco
US SIC 1987: 5149 - Groceries
and Related Products, Not Elsewhere Classified
Key Executives
|
Name |
Title |
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Chunilal Velji Nathwani |
Secretary |
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Chandulal Velji Nathwani |
Director |
|
Mahendra Velji Nathwani |
Director |
|
Natwarlal Velji Nathwani |
Director |
|
Manharlal Velji Nathwani |
Director |
Financial Summary
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1 - Profit & Loss Item Exchange Rate: USD 1 = GBP 0.633217
2 - Balance Sheet Item Exchange Rate: USD 1 = GBP 0.6373146
Corporate Overview
Location
Vb House
Woodside End
Alperton
Wembley, HA0 1UR
Middlesex County
United Kingdom
Tel: 020 8900 1355
Sales GBP(mil): 38.1
Assets GBP(mil): 21.5
Employees: 210
Fiscal Year End: 31-Jul-2012
Industry: Food
Processing
Registered
Address:
Vb House, Woodside End Alperto
Wembley, HA0 1UR
United Kingdom
Incorporation Date: 22-Nov-2002
Company Type: Private
Parent
Quoted Status: Not
Quoted
Registered No.(UK): 04598252
Director: Chandulal
Velji Nathwani
Industry Codes
ANZSIC 2006 Codes:
3609 - Other Grocery Wholesaling
4279 - Other Store-Based Retailing Not Elsewhere Classified
ISIC Rev 4 Codes:
4630 - Wholesale of food, beverages and tobacco
4719 - Other retail sale in non-specialized stores
NACE Rev 2 Codes:
4639 - Non-specialised wholesale of food, beverages and tobacco
4719 - Other retail sale in non-specialised stores
NAICS 2012 Codes:
424490 - Other Grocery and Related Products Merchant Wholesalers
4451 - Grocery Stores
US SIC 1987:
5149 - Groceries and Related Products, Not Elsewhere Classified
5399 - Miscellaneous General Merchandise Stores
UK SIC 2007:
4639 - Non-specialised wholesale of food, beverages and tobacco
4719 - Other retail sale in non-specialised stores
Business
Description
Wholesale and retail of groceries and provisions.
More Business
Descriptions
Cash and Carry Wholesalers
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%20LTD%20%20%20-%20230288%2025-Jul-2013_files/image001.gif){kind=small}
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Corporate Family |
Corporate
Structure News: |
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Velji
Bhovan & Sons (Trading) Ltd. |
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Velji Bhovan & Sons (Trading) Ltd. |
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Company
Name |
Company
Type |
Location |
Country |
Industry |
Sales |
Employees |
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|
Velji Bhovan & Sons
(Trading) Ltd. |
Parent |
Wembley |
United Kingdom |
Grocery Wholesale |
60.2 |
210 |
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V. B. & Sons (Trading)
Ltd. |
Subsidiary |
Wembley |
United Kingdom |
Grocery Stores |
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150 |
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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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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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Directors
and Shareholders Report
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Main Office Address: |
Tel: 020
8900 1355 |
Annual Return Date: 22
Nov 2012 |
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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 |
10 May 1946 |
146 Uxbridge Road, |
22 Nov 2002 |
NA |
Current:1 |
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Current |
03 Sep 1936 |
Sai Villa 1 Farrington Place, Batchworth Lane, |
22 Nov 2002 |
NA |
Current:2 |
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Current |
08 Dec 1940 |
18 Linksway, |
22 Nov 2002 |
NA |
Current:1 |
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Current |
17 Jan 1949 |
Sai Kusum, 12 Clonard Way Hatch End, |
22 Nov 2002 |
NA |
Current:1 |
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Current |
03 Nov 1938 |
Brambles, Kewferry Drive, |
22 Nov 2002 |
NA |
Current:3 |
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Corporate Directors |
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Company Name |
Status |
Registered Address |
Appointment Date |
Resignation Date |
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Company Directors Limited |
Previous |
788-790 Finchley Road, |
22 Nov 2002 |
22 Nov 2002 |
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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 |
03 Sep 1936 |
Sai Villa 1 Farrington Place, Batchworth Lane, |
22 Nov 2002 |
NA |
Current:2 |
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Corporate Secretaries |
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Company Name |
Status |
Registered Address |
Appointment Date |
Resignation Date |
|
Temple Secretaries Limited |
Previous |
788-790 Finchley Road, |
22 Nov 2002 |
22 Nov 2002 |
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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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Chandulal Velji Nathwani |
201 Ordinary GBP 1.00 |
Ordinary |
201 |
1.00 |
201.00 |
20.00 |
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Chunilal Velji Nathwani |
201 Ordinary GBP 1.00 |
Ordinary |
201 |
1.00 |
201.00 |
20.00 |
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Mahendra Velji Nathwani |
201 Ordinary GBP 1.00 |
Ordinary |
201 |
1.00 |
201.00 |
20.00 |
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Manharlal Velji Nathwani |
201 Ordinary GBP 1.00 |
Ordinary |
201 |
1.00 |
201.00 |
20.00 |
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Natwarlal Velji Nathwani |
201 Ordinary GBP 1.00 |
Ordinary |
201 |
1.00 |
201.00 |
20.00 |
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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-Jul-2012 |
31-Jul-2011 |
31-Jul-2010 |
31-Jul-2009 |
31-Jul-2008 |
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Period Length |
52 Weeks |
53 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
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Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate
(Period Average) |
0.633217 |
0.626063 |
0.637195 |
0.636663 |
0.500129 |
|
Consolidated |
No |
No |
No |
No |
No |
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Turnover (UK) |
60.2 |
55.8 |
49.8 |
43.4 |
52.1 |
|
Turnover (Exports) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Turnover |
60.2 |
55.8 |
49.8 |
43.4 |
52.1 |
|
Cost of Sales |
46.4 |
43.3 |
38.0 |
33.9 |
39.3 |
|
Gross Profit |
13.7 |
12.4 |
11.8 |
9.6 |
12.8 |
|
Depreciation |
0.5 |
0.5 |
0.4 |
0.2 |
0.3 |
|
Other Expenses |
9.8 |
9.5 |
8.4 |
7.9 |
9.5 |
|
Other Income |
0.1 |
0.1 |
0.2 |
0.4 |
0.6 |
|
Interest Paid |
0.2 |
0.2 |
0.1 |
0.2 |
0.5 |
|
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 |
3.8 |
2.8 |
3.4 |
1.7 |
3.5 |
|
Tax Payable / Credit |
1.0 |
0.8 |
1.0 |
0.5 |
1.1 |
|
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 |
2.8 |
2.0 |
2.4 |
1.2 |
2.5 |
|
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 |
210 |
228 |
188 |
157 |
147 |
|
Wages |
6.6 |
6.6 |
5.9 |
5.5 |
- |
|
Social Security Costs |
0.6 |
0.6 |
0.5 |
0.5 |
- |
|
Pensions |
- |
- |
- |
0.0 |
- |
|
Other Pension Costs |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Employees Remuneration |
7.2 |
7.2 |
6.4 |
6.1 |
7.2 |
|
Directors Emoluments |
- |
- |
- |
1.3 |
- |
|
Other Costs |
- |
- |
- |
0.0 |
- |
|
Directors Remuneration |
1.0 |
1.1 |
1.0 |
1.3 |
1.8 |
|
Highest Paid Director |
0.3 |
0.3 |
0.3 |
0.3 |
0.4 |
Annual
Balance Sheet
Financials in: USD (mil)
|
|
31-Jul-2012 |
31-Jul-2011 |
31-Jul-2010 |
31-Jul-2009 |
31-Jul-2008 |
|
Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate |
0.637315 |
0.609199 |
0.638529 |
0.603191 |
0.504821 |
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Consolidated |
No |
No |
No |
No |
No |
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Land & Buildings |
17.7 |
18.6 |
16.8 |
14.7 |
11.6 |
|
Fixtures & Fittings |
1.0 |
1.2 |
0.8 |
0.9 |
0.5 |
|
Plant & Vehicles |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Total Tangible Fixed Assets |
18.8 |
19.9 |
17.7 |
15.8 |
12.2 |
|
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 |
18.8 |
19.9 |
17.7 |
15.8 |
12.2 |
|
Stocks |
9.6 |
10.1 |
8.5 |
6.9 |
9.8 |
|
Work in Progress |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Stocks Work In Progress |
9.6 |
10.1 |
8.5 |
6.9 |
9.8 |
|
Trade Debtors |
1.5 |
1.6 |
1.4 |
- |
- |
|
Other Debtors |
0.4 |
0.5 |
0.9 |
1.3 |
1.9 |
|
Total Debtors |
1.9 |
2.1 |
2.3 |
1.3 |
1.9 |
|
Cash and Equivalents |
3.6 |
1.2 |
0.8 |
0.7 |
0.2 |
|
Other Current Assets |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Current Assets |
15.0 |
13.4 |
11.6 |
8.9 |
11.9 |
|
Total Assets |
33.8 |
33.3 |
29.2 |
24.6 |
24.1 |
|
Trade Creditors |
5.5 |
6.1 |
5.1 |
4.6 |
5.4 |
|
Bank Overdraft |
0.5 |
0.5 |
0.5 |
0.5 |
2.6 |
|
Inter-Company Creditors |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Director Loans (Current Liability) |
0.1 |
0.5 |
0.2 |
- |
- |
|
Total Short Term Loans |
- |
- |
0.5 |
0.0 |
- |
|
Accruals/Deferred Income (Current Liability) |
0.1 |
0.1 |
0.1 |
0.3 |
0.1 |
|
Social Security/VAT |
0.2 |
0.3 |
0.2 |
0.2 |
0.3 |
|
Corporation Tax |
0.6 |
0.2 |
0.7 |
0.6 |
0.8 |
|
Other Current Liabilities |
0.5 |
0.6 |
0.1 |
0.1 |
0.1 |
|
Total Current Liabilities |
7.5 |
8.3 |
7.4 |
6.3 |
9.2 |
|
Group Loans (Long Term Liability) |
0.0 |
- |
- |
0.0 |
- |
|
Director Loans (Long Term Liability) |
0.0 |
- |
- |
2.6 |
- |
|
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 |
8.2 |
9.1 |
9.1 |
4.8 |
6.7 |
|
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 |
8.2 |
9.1 |
9.1 |
7.5 |
6.7 |
|
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 |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Share Premium Accounts |
3.4 |
3.5 |
3.3 |
3.5 |
4.2 |
|
Revaluation Reserve |
2.9 |
3.1 |
2.4 |
2.6 |
0.0 |
|
Retained Earnings |
11.6 |
9.2 |
6.8 |
4.6 |
3.9 |
|
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 |
17.9 |
15.8 |
12.6 |
10.8 |
8.2 |
|
Net Worth |
17.9 |
15.8 |
12.6 |
10.8 |
8.2 |
Annual Cash Flows
Financials in: USD (mil)
|
|
31-Jul-2012 |
31-Jul-2011 |
31-Jul-2010 |
31-Jul-2009 |
31-Jul-2008 |
|
Period Length |
52 Weeks |
53 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
|
Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate
(Period Average) |
0.633217 |
0.626063 |
0.637195 |
0.636663 |
0.500129 |
|
Consolidated |
No |
No |
No |
No |
No |
|
|
|
|
|
|
|
|
Net Cash Flow From Operating Activities |
3.8 |
3.7 |
2.2 |
4.0 |
0.1 |
|
Net Cash Flow from ROI and Servicing of Finance |
-0.2 |
-0.2 |
-0.1 |
-0.2 |
-0.5 |
|
Taxation |
-0.6 |
-1.3 |
-0.9 |
-0.5 |
-0.7 |
|
Capital Expenditures |
-0.2 |
-1.4 |
-3.1 |
-3.0 |
-0.1 |
|
Acquisitions and Disposals |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Paid Up Equity |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Management of Liquid Resources |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Net Cash Flow From Financing |
-0.5 |
-0.5 |
2.3 |
1.8 |
1.6 |
|
Increase in Cash |
2.4 |
0.3 |
0.4 |
2.1 |
0.4 |
Annual Ratios
Financials in: USD (mil)
|
|
31-Jul-2012 |
31-Jul-2011 |
31-Jul-2010 |
31-Jul-2009 |
31-Jul-2008 |
|
Period Length |
52 Weeks |
53 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
|
Filed Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange Rate |
0.637315 |
0.609199 |
0.638529 |
0.603191 |
0.504821 |
|
Consolidated |
No |
No |
No |
No |
No |
|
|
|
|
|
|
|
|
Current Ratio |
1.99 |
1.62 |
1.56 |
1.40 |
1.29 |
|
Liquidity Ratio |
0.72 |
0.39 |
0.42 |
0.31 |
0.22 |
|
Stock Turnover |
6.23 |
5.56 |
5.86 |
6.65 |
5.27 |
|
Credit Period (Days) |
8.86 |
10.35 |
10.18 |
- |
- |
|
Working Capital by Sales |
12.49% |
9.04% |
8.40% |
5.53% |
5.12% |
|
Trade Credit by Debtors |
3.80 |
3.83 |
3.69 |
- |
- |
|
Return on Capital |
14.48% |
11.36% |
15.71% |
10.01% |
23.36% |
|
Return on Assets |
11.24% |
8.53% |
11.73% |
7.43% |
14.42% |
|
Profit Margin |
6.35% |
5.05% |
6.90% |
3.99% |
6.74% |
|
Return on Shareholders Funds |
21.22% |
17.99% |
27.25% |
17.02% |
42.51% |
|
Borrowing Ratio |
49.61% |
64.07% |
82.26% |
74.18% |
112.69% |
|
Equity Gearing |
52.97% |
47.44% |
43.05% |
43.68% |
33.91% |
|
Debt Gearing |
46.09% |
57.72% |
72.68% |
69.39% |
81.50% |
|
Interest Coverage |
19.36 |
13.15 |
24.93 |
7.07 |
7.02 |
|
Sales by Tangible Assets |
3.19 |
2.82 |
2.81 |
2.91 |
4.22 |
|
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 |
0.3 |
0.2 |
0.3 |
0.3 |
0.4 |
|
Capital Employed per Employee |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Tangible Assets per Employee |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Total Assets per Employee |
0.2 |
0.1 |
0.2 |
0.2 |
0.2 |
|
Employee Remuneration by Sales |
11.89% |
12.83% |
12.91% |
13.98% |
13.89% |
|
Creditor Days (Cost of Sales Based) |
43.62 |
51.00 |
49.11 |
47.39 |
50.73 |
|
Creditor Days (Sales Based) |
33.67 |
39.63 |
37.51 |
36.96 |
38.25 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.45 |
|
UK Pound |
1 |
Rs.91.24 |
|
Euro |
1 |
Rs.78.44 |
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.