MIRA INFORM REPORT

 

 

Report Date :

01.11.2013

 

IDENTIFICATION DETAILS

 

Name :

CROWN CREST (LEICESTER) PLC

 

 

Registered Office :

101 Cobden Street, Leicester, LE1 2LB, Leicestershire County

 

 

Country :

United Kingdom

 

 

Financials (as on) :

31.03.2013

 

 

Date of Incorporation :

15.03.2002

 

 

Com. Reg. No.:

04395797

 

 

Legal Form :

Public Subsidiary

 

 

Line of Business :

Wholesaling of fast moving consumer goods

 

 

No. of Employees :

72

 

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 :

Satisfactory

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 – March 31st, 2013

 

Country Name

Previous Rating

(31.12.2012)

Current Rating

(31.03.2013)

United Kingdom

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

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 and address

 

Crown Crest (Leicester) PLC

 

 

 

101 Cobden Street

 

 

Leicester, LE1 2LB

United Kingdom

(Trading Address)

Tel:

01162532866

Fax:

01162532880

 

www.leicester.gov.uk

 

Employees:

72

Company Type:

Public Subsidiary

Corporate Family:

5 Companies

Ultimate Parent:

Crown Crest Group Ltd.

 

 

Quoted Status:

Non-quoted Company

Incorporation Date:

15-Mar-2002

Auditor:

Bdo LLP

 

 

 

 

 

 

 

 

 

Fiscal Year End:

31-Mar-2013

Reporting Currency:

British Pound Sterling

Annual Sales:

369.4  1

Net Income:

20.7

Total Assets:

284.2

 

 

 

 

 

 

 

 

Business Description

 

 

Wholesaling of fast moving consumer goods.

 

 

Industry

 

 

Industry

Miscellaneous Wholesale

ANZSIC 2006:

3739 - Other Goods Wholesaling Not Elsewhere Classified

ISIC Rev 4:

4690 - Non-specialized wholesale trade

NACE Rev 2:

4690 - Non-specialised wholesale trade

NAICS 2012:

423990 - Other Miscellaneous Durable Goods Merchant Wholesalers

UK SIC 2007:

4690 - Non-specialised wholesale trade

US SIC 1987:

5099 - Durable Goods, Not Elsewhere Classified

 

 

Key Executives

 

 

 

Name

Title

 

Bharat Patel

Accounts Manager

 

Abdul Rashid Tayub

Secretary

 

Graham John Page

Director

 

Hemant Patel

Director

 

Shehzad Tayub

Director

 

 

 

News

 

 

Title

Date

Firms' [pounds sterling]22k fine over sale of danger cushions
Welwyn & Hatfield Times (Welwyn Garden City and Hatfield, England) (397 Words)

22-May-2013

Chain store fined
Newcastle Evening Chronicle (UK) (96 Words)

11-Mar-2013

Chain store fined
Evening Chronicle (Newcastle, England) (96 Words)

11-Mar-2013

Store chain fined over vacuums
Evening Chronicle (Newcastle, England) (123 Words)

9-Mar-2013

 

 

Financial Summary

 

 

FYE: 31-Mar-2013

USD (mil)

Key Figures

 

Current Assets

282.17

Fixed Assets

2.04

Total Liabilities

89.51

Net Worth

153.35

 

Key Ratios

 

Current Ratio

3.15

Acid Test

2.23

Debt Gearing

26.89

 

Registered No.(UK):

 

04395797

 

1 - Profit & Loss Item Exchange Rate: USD 1 = GBP 0.6329098

 
2 - Balance Sheet Item Exchange Rate: USD 1 = GBP 0.6591356

 

 

Corporate Overview

 

 

Location
101 Cobden Street
Leicester, LE1 2LB
Leicestershire County
United Kingdom

 

Tel:

01162532866

Fax:

01162532880

 

www.leicester.gov.uk

Sales GBP(mil):

233.8

Assets GBP(mil):

187.3

Employees:

72

Fiscal Year End:

31-Mar-2013

 

KeyIDSM:

47051914

Industry:

Miscellaneous Capital Goods

Registered Address:
101 Cobden Street
Leicester, LE1 2LB
United Kingdom

 

Incorporation Date:

15-Mar-2002

Company Type:

Public Subsidiary

Quoted Status:

Not Quoted

Registered No.(UK):

04395797

 

Director:

Shehzad Tayub

 

Industry Codes

 

ANZSIC 2006 Codes:

3739

-

Other Goods Wholesaling Not Elsewhere Classified

 

ISIC Rev 4 Codes:

4690

-

Non-specialized wholesale trade

 

NACE Rev 2 Codes:

4690

-

Non-specialised wholesale trade

 

NAICS 2012 Codes:

423990

-

Other Miscellaneous Durable Goods Merchant Wholesalers

 

US SIC 1987:

5099

-

Durable Goods, Not Elsewhere Classified

 

UK SIC 2007:

4690

-

Non-specialised wholesale trade

 

Business Description

Wholesaling of fast moving consumer goods

 

 

 

 

 

Financial Data

Financials in:

GBP(mil)

 

Revenue:

233.8

Net Income:

13.1

Assets:

187.3

Current Assets:

186.0

 

Fixed Assets:

1.3

 

Long Term Debt:

27.2

 

Total Liabilities:

86.2

 

Issued Capital:

9.0

 

Working Capital:

127.0

 

Net Worth:

101.1

 

 

 

Date of Financial Data:

31-Mar-2013

 

1 Year Growth

-14.6%

NA

NA

 

Key Corporate Relationships

Auditor:

Bdo LLP

Bank:

Lloyds Tsb PLC

 

Auditor:

Bdo LLP

 

Auditor History

Bdo LLP

31-Mar-2013

Pkf (UK) LLP

31-Mar-2012

Pkf (UK) LLP

31-Mar-2011

Pkf (UK) LLP

31-Mar-2010

Pkf (UK) LLP

31-Mar-2009

 

 

 

GBP(mil)

Audit Fees:

0.1

Non Audit Fees:

0.0

Audit Fiscal Year:

03-31-2013

 

 

 

 

 

Corporate Family

Corporate Structure News:

 

Crown Crest Group Ltd.
Crown Crest (Leicester) PLC

Crown Crest (Leicester) PLC
Total Corporate Family Members: 5

 

 

 

 

Company Name

Company Type

Location

Country

Industry

Sales
(USD mil)

Employees

Crown Crest Group Ltd.

Parent

Leicester

United Kingdom

Holding Companies

679.7

6,075

Crown Crest (Leicester) PLC

Subsidiary

Leicester

United Kingdom

Miscellaneous Wholesale

369.4

72

Seaham Investments Ltd.

Subsidiary

Leicester

United Kingdom

Miscellaneous Professional Services

 

 

Crown Crest Property Developments Ltd.

Subsidiary

Leicester

United Kingdom

Residential Real Estate Leasing

1.1

 

Levelbrand Ltd.

Subsidiary

Leicester

United Kingdom

Miscellaneous Professional Services

 

 

 

 

 

 

 

Crown Crest (Leicester) PLC

Leicester, , United Kingdom, Tel: 01162532866, URL: http://www.leicester.gov.uk

 

Executives Report

 

Board of Directors

 

Name

Title

Function

 

Graham John Page

 

Director

Director/Board Member

 

Age: 64

 

Hemant Patel

 

Director

Director/Board Member

 

 

Age: 52

 

Shehzad Tayub

 

Director

Director/Board Member

 

 

Age: 28

 

Abdul Aziz Tayub

 

Director

Director/Board Member

 

 

Age: 58

 

 

Executives

 

Name

Title

Function

 

Abdul Rashid Tayub

 

Secretary

Company Secretary

 

Age: 65

 

Bharat Patel

 

Accounts Manager

Accounting Executive

 

 

 
Directors and Shareholders Report

 

Main Office Address:
101 Cobden Street
Leicester
United Kingdom LE1 2LB

Tel: 01162532866
Fax: 01162532880
URL: http://www.leicester.gov.uk

Annual Return Date: 15 Mar 2013
Total Issued Capital (GBP 000): 8,998

 

Individual Directors

Name

Status

DOB

Filed Address

Appointment Date

Resignation Date

Summary of Directorships

 

Shehzad
Tayub

Current

20 Sep 1985

101 Cobden Street, Leicester,
Leicester, Leicestershire LE1 2LB

22 Apr 2013

NA

Current:5
Previous:0
Disqualifications:0

 

Hemant
Patel

Current

21 May 1961

The Manor House, 1028 Melton Road Syston,
Leicester, Leicestershire LE7 2NN

15 Mar 2012

NA

Current:11
Previous:7
Disqualifications:0

 

Abdul Aziz
Tayub

Current

13 Oct 1955

111 Trevino Drive,
Leicester, Leicestershire LE4 7PH

15 Mar 2002

NA

Current:20
Previous:4
Disqualifications:0

 

Graham John
Page

Current

14 Jan 1949

18 Southernhay Road, Stoneygate,
Leicester, Leicestershire LE2 3TJ

01 Aug 2005

NA

Current:7
Previous:4
Disqualifications:0

 

Abdul Rashid
Tayub

Previous

18 Sep 1948

18 Kendal Road,
Leicester, Leicestershire LE4 7GP

15 Mar 2002

22 Apr 2013

Current:15
Previous:6
Disqualifications:0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate Directors

Company Name

Status

Registered Address

Appointment Date

Resignation Date

Waterlow Nominees Limited

Previous

6-8 Underwood Street,
London , London N1 7JQ

15 Mar 2002

15 Mar 2002

 

 

 

 

Individual Secretaries

Name

Status

DOB

Filed Address

Appointment Date

Resignation Date

Summary of Directorships

 

Abdul Rashid
Tayub

Current

18 Sep 1948

18 Kendal Road,
Leicester, Leicestershire LE4 7GP

15 Mar 2002

NA

Current:15
Previous:6
Disqualifications:0

 

Dunstana Adeshola
Davies

Previous

14 Nov 1954

20 Northcote Road,
Croydon, London CR0 2HT

15 Mar 2002

15 Mar 2002

Current:8
Previous:1392
Disqualifications:0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate Secretaries

Company Name

Status

Registered Address

Appointment Date

Resignation Date

Waterlow Secretaries Limited

Previous

6-8 Underwood Street,
London , London N1 7JQ

15 Mar 2002

15 Mar 2002

 

 

 

 

Shareholders

OneSource currently does not provide shareholding information for this company.

 

 

 

 

News

 

 

Firms' [pounds sterling]22k fine over sale of danger cushions
Welwyn & Hatfield Times (Welwyn Garden City and Hatfield, England) (397 Words)

22-May-2013

 

 

Chain store fined
Newcastle Evening Chronicle (UK) (96 Words)

11-Mar-2013

 

 

Chain store fined
Evening Chronicle (Newcastle, England) (96 Words)

11-Mar-2013

 

 

Store chain fined over vacuums
Evening Chronicle (Newcastle, England) (123 Words)

09-Mar-2013

 

 

 

Annual Profit & Loss

 

Financials in: USD (mil)

 

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

 

 

 

31-Mar-2013

31-Mar-2012

31-Mar-2011

31-Mar-2010

31-Mar-2009

Period Length

52 Weeks

52 Weeks

52 Weeks

52 Weeks

52 Weeks

Filed Currency

GBP

GBP

GBP

GBP

GBP

Exchange Rate (Period Average)

0.63291

0.626752

0.643394

0.627794

0.592803

Consolidated

No

No

No

No

No

 

 

 

 

 

 

Turnover (UK)

367.5

434.1

404.1

282.9

257.2

Turnover (Exports)

1.9

2.6

2.0

0.0

2.4

Total Turnover

369.4

436.7

406.1

282.9

259.6

Total Expenses

344.4

407.2

374.4

252.7

230.7

Depreciation

0.5

0.4

0.3

0.2

0.3

Operating Profit

25.0

29.5

-

30.2

28.9

Other Income

0.6

0.5

0.3

0.2

0.4

Interest Paid

3.2

3.0

2.6

1.9

1.3

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

22.4

27.0

29.4

28.5

28.0

Tax Payable / Credit

1.7

3.7

5.9

7.4

7.8

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

20.7

23.4

23.5

21.1

20.3

Minority Interests (Profit & Loss)

0.0

0.0

0.0

0.0

0.0

Audit Fees

0.1

0.1

0.1

0.0

0.0

Non Audit Fees

0.0

0.0

0.0

0.0

0.0

Number of Employees

72

80

73

67

75

Wages

3.3

4.0

3.5

3.9

4.6

Social Security Costs

0.4

0.5

0.4

0.4

0.6

Pensions

0.0

0.0

0.2

0.2

0.2

Other Pension Costs

0.0

0.0

0.2

0.2

0.2

Employees Remuneration

3.6

4.5

4.1

4.6

5.4

Directors Emoluments

1.0

0.9

0.9

1.3

1.2

Other Costs

0.0

0.0

0.0

0.0

0.0

Directors Remuneration

1.0

0.9

1.1

1.6

1.4

Highest Paid Director

0.5

0.6

0.5

0.9

0.8

 

 

 

Annual Balance Sheet

Financials in: USD (mil)

 

 

 

31-Mar-2013

31-Mar-2012

31-Mar-2011

31-Mar-2010

31-Mar-2009

Filed Currency

GBP

GBP

GBP

GBP

GBP

Exchange Rate

0.659136

0.628108

0.62385

0.659239

0.697666

Consolidated

No

No

No

No

No

 

 

 

 

 

 

Land & Buildings

0.0

-

-

-

0.0

Fixtures & Fittings

1.8

-

-

-

0.2

Plant & Vehicles

0.2

-

-

-

0.2

Total Tangible Fixed Assets

1.9

2.3

0.8

0.3

0.4

Intangible Assets

0.1

0.2

0.3

0.0

0.0

Investments

0.0

0.0

0.0

0.0

0.0

Total Fixed Assets

2.0

2.5

1.1

0.3

0.4

Stocks

83.0

106.8

85.3

66.6

29.5

Work in Progress

0.0

0.0

0.0

0.0

0.0

Total Stocks Work In Progress

83.0

106.8

85.3

66.6

29.5

Trade Debtors

5.1

10.0

10.6

10.5

13.0

Inter-Company Debtors

186.6

191.2

137.8

97.3

79.0

Other Debtors

7.6

1.4

2.6

3.0

2.9

Total Debtors

199.2

202.7

151.0

110.8

94.9

Cash and Equivalents

0.0

0.0

0.0

0.0

0.0

Other Current Assets

0.0

0.0

0.0

0.0

0.0

Total Current Assets

282.2

309.5

236.3

177.4

124.4

Total Assets

284.2

312.0

237.4

177.8

124.8

Trade Creditors

45.6

63.8

29.0

27.2

18.5

Bank Overdraft

40.0

43.2

30.1

17.6

22.6

Inter-Company Creditors

0.0

0.0

1.6

0.8

0.6

Director Loans (Current Liability)

0.0

0.0

0.0

0.0

0.0

Hire Purchase (Current Liability)

0.0

0.0

0.0

0.0

0.0

Finance Lease (Current Liability)

0.0

0.0

0.0

0.0

0.0

Total Finance Lease/Hire Purchase (Current Liability)

0.0

0.0

0.0

0.0

0.0

Total Short Term Loans

0.0

0.0

0.0

0.0

0.0

Accruals/Deferred Income (Current Liability)

0.9

2.7

1.7

1.8

0.9

Social Security/VAT

0.1

2.4

4.1

2.6

1.3

Corporation Tax

2.9

4.4

1.9

3.8

4.6

Dividends (Current Liability)

0.0

0.0

0.0

0.0

0.0

Other Current Liabilities

0.0

0.0

0.0

0.0

0.0

Total Current Liabilities

89.5

116.5

68.3

53.8

48.4

Group Loans (Long Term Liability)

0.0

0.0

0.0

0.0

0.0

Director Loans (Long Term Liability)

0.0

0.0

0.0

0.0

0.0

Hire Purchase (Long Term Liability)

0.0

0.0

0.0

0.0

0.0

Leasing (Long Term Liability)

0.0

0.0

0.0

0.0

0.0

Total Hire Purchase Loans (Long Term Liability)

0.0

0.0

0.0

0.0

0.0

Other Long Term Loans

41.2

55.4

51.5

35.6

11.8

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

41.2

55.4

51.5

35.6

11.8

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

13.7

14.3

14.4

13.6

12.9

Share Premium Accounts

0.4

0.4

0.4

0.4

0.4

Revaluation Reserve

0.0

0.0

0.0

0.0

0.0

Retained Earnings

139.4

125.4

102.8

74.4

51.3

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

153.5

140.2

117.6

88.4

64.6

Net Worth

153.4

139.9

117.3

88.4

64.6

 

 

 

Annual Cash Flows

Financials in: USD (mil)

 

 

 

31-Mar-2013

31-Mar-2012

31-Mar-2011

31-Mar-2010

31-Mar-2009

Period Length

52 Weeks

52 Weeks

52 Weeks

52 Weeks

52 Weeks

Filed Currency

GBP

GBP

GBP

GBP

GBP

Exchange Rate (Period Average)

0.63291

0.626752

0.643394

0.627794

0.592803

Consolidated

No

No

No

No

No

 

 

 

 

 

 

 

 

Annual Ratios

Financials in: USD (mil)

 

 

 

31-Mar-2013

31-Mar-2012

31-Mar-2011

31-Mar-2010

31-Mar-2009

Period Length

52 Weeks

52 Weeks

52 Weeks

52 Weeks

52 Weeks

Filed Currency

GBP

GBP

GBP

GBP

GBP

Exchange Rate

0.659136

0.628108

0.62385

0.659239

0.697666

Consolidated

No

No

No

No

No

 

 

 

 

 

 

Current Ratio

3.15

2.66

3.46

3.30

2.57

Liquidity Ratio

2.23

1.74

2.21

2.06

1.96

Stock Turnover

428.00

408.00

491.00

405.00

748.00

Credit Period (Days)

520.00

840.00

924.00

1,421.00

2,157.00

Working Capital by Sales

5,431.00%

4,430.00%

4,012.00%

4,589.00%

3,443.00%

Trade Credit by Debtors

902.00

636.00

273.00

259.00

142.00

Return on Capital

1,106.00%

1,380.00%

1,793.00%

2,190.00%

3,119.00%

Return on Assets

758.00%

865.00%

1,277.00%

1,527.00%

1,909.00%

Profit Margin

607.00%

619.00%

724.00%

1,008.00%

1,080.00%

Return on Shareholders Funds

1,403.00%

1,925.00%

2,578.00%

3,070.00%

3,691.00%

Borrowing Ratio

5,300.00%

7,048.00%

7,087.00%

6,109.00%

5,427.00%

Equity Gearing

5,400.00%

4,492.00%

4,954.00%

4,974.00%

5,172.00%

Debt Gearing

26.89%

39.58%

43.93%

40.23%

18.32%

Interest Coverage

708.00

895.00

1,125.00

1,468.00

2,208.00

Sales by Tangible Assets

18,352.00

18,821.00

50,891.00

79,414.00

51,138.00

Average Remuneration per Employee

0.0

0.1

0.1

0.1

0.1

Profit per Employee

0.3

0.3

0.4

0.4

0.3

Sales per Employee

4.9

5.4

5.7

4.0

2.9

Capital Employed per Employee

2.7

2.4

2.3

1.9

1.0

Tangible Assets per Employee

0.0

0.0

0.0

0.0

0.0

Total Assets per Employee

3.9

3.9

3.3

2.7

1.7

Employee Remuneration by Sales

98.00%

103.00%

102.00%

162.00%

206.00%

Creditor Days (Cost of Sales Based)

4,690.00

5,340.00

2,524.00

3,680.00

3,058.00

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.49

UK Pound

1

Rs.98.71

Euro

1

Rs.84.49

 

 

INFORMATION DETAILS

 

Report Prepared by :

PDT

 

 

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.