MIRA INFORM REPORT

Report Date :

05.10.2013

IDENTIFICATION DETAILS

Name :	QUALITEX AKTSIASELTS
Formerly Known As :	LOOTOS 2000 VARVID AKTSIASELTS
Registered Office :	Parnu mnt 50, Sindi, Parnu county, 86703
Country :	Estonia
Financials (as on) :	31.12.2012
Date of Incorporation :	1994
Com. Reg. No.:	10083205
Legal Form :	AS (Public limited company by Estonian Commercial Law)
Line of Business :	· Finishing of textiles · Manufacture of underwear, inc T-shirts, shirts, dressing gowns, nightdresses and similar
No. of Employees :	110

RATING & COMMENTS

MIRA’s Rating :

Ca

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Poor
Payment Behaviour :	Slow
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, 31^st, 2013

Country Name	Previous Rating (31.12.2012)	Current Rating (31.03.2013)
Estonia	B1	B1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

ESTONIA - ECONOMIC OVERVIEW

Estonia, a member of the European Union and the eurozone since 2004, has a modern market-based economy and one of the higher per capita income levels in Central Europe and the Baltic region. Estonia's successive governments have pursued a free market, pro-business economic agenda and have wavered little in their commitment to pro-market reforms. The current government has followed sound fiscal policies that have resulted in balanced budgets and low public debt. The economy benefits from strong electronics and telecommunications sectors and strong trade ties with Finland, Sweden, Russia, and Germany. Tallinn's priority has been to sustain high growth rates - on average 8% per year from 2003 to 2007. Estonia's economy fell into recession in mid-2008 with GDP contracting 14.3% in 2009, as a result of an investment and consumption slump following the bursting of the real estate market bubble and a decrease in export demand as result of economic slowdown in the rest of Europe. Estonia rebounded nearly 8% in 2011 and the Estonian economy now has one of the higher GDP growth rates in Europe. Estonia adopted the euro on 1 January 2011.

Source : CIA

Identification

Full Name

:

QUALITEX AKTSIASELTS

Name in English

:

Qualitex PLC

Name in national language

:

Qualitex AS

Previous Names

:

-	Lootos 2000 Varvid Aktsiaselts

Office Address

:

Parnu mnt 50, Sindi, Parnu county, 86703, Estonia

Legal Address

:

Parnu mnt 50, Sindi, Parnu county, 86703, Estonia

Contacts

:

-	Phone	:	(+372) 4426840
-	Fax	:	(+372) 4426886
-	E-mail	:	qualitex@qualitex.ee
-	WWW	:	www.qualitex.ee

SUMMARY

Legal Form : AS (Public limited company by Estonian Commercial Law)

Incorporation : 1994

Staff : 110

Litigation events : none Remarks on payments : yes

Sales :	4 327.00 th EUR ( for 12 months, ended 31.12.2012 )
	5 251.00 th EUR ( for 12 months, ended 31.12.2011 )

Company Summary

Incorporation

:

1994

Registration Data

Date of registration

:

27.08.1996

Registration number

:

10083205

Registr. authority

:

Registration department of the County Court (Parnu region, Estonia)

Date of registration

:

27.08.1996

VAT number

:

EE100129399

Registr. authority

:

Estonian Tax and Customs Board (Parnu region, Estonia)

VAT payers are persons (including legal persons), whose taxable supply from the beginning of a calendar year exceeds 16 000 EUR. VAT rate is 20 percent.

Legal Form

:

AS (Public limited company by Estonian Commercial Law)

since 27.08.1996

Public Limited company (PLC) is a company with a share capital divided into shares. The company is liable for its obligations with all its assets. The minimum sharecapital must be at least 25,564.00 EUR.

Share Capital

:

6 084 415 EUR (registered)

since 17.02.2011

Shares are registered in the Estonian Central Register of Securities

Shareholders

:

-	Phoenix Land (Estonia)				100.00 %
		share's book value	:	6 084 415 EUR
		reg. number	:	10094195
		address	:	Kopli 35, Tallinn, Harju county, 10412, Estonia
	Simple ownership

The information system of the Commercial Register presents data about the shareholders of public limited companies holding more than 10% of the votes determined by shares. The data about shareholders in the information system of the Commercial Register has an informative meaning. The data of the Estonian Central Register of Securities has legal power on the basis of the Estonian Central Register of Securities Act.

Board / Executives

Board

Chairman of the Supervisory Board

:

Mr Aswani, Narinder Kumar G. (Estonia)
	pers. code: 36304120412
	address: Tallinn, Harju county, Estonia

Member of the Supervisory Board

:

Mr Reimand, Urmas (Estonia)
	pers. code: 35709230220
	address: Tallinn, Harju county, Estonia

Member of the Supervisory Board

:

Sajen Ghansamdas Aswani (India)

date of birth: 22.04.1960

Executives

Member of the board

:

Mr Sharma, Vishal (Estonia)
	pers. code: 37510220073
	address: Parnu, Parnu county, Estonia

The member of the management board: Until 25.01.2016* * The dates of duration of authorisation in e-Business Register have no legal effect. If the data does not indicate the duration of authorisation, the member of the management board might be elected for an unspecified term (subsection 184(2) of the Commercial Code). Currently related in Estonia to the following companies: 1 mittetulundusühing INDIAN CULTURAL ASSOCIATION ESTONIA (80196773) (Active) 2 Aktsiaselts Qualitex (10083205) (Active) 3 Max Orient OÜ (12170492) (Active) 4 Qualitex Baltic OÜ (12317357) (Active)

Member of the board

:

Mr Tripathi, Deo Prasad Brij Mohan (Estonia)
	pers. code: 36103010029
	address: Parnu, Parnu county, Estonia

The member of the management board: Until 25.01.2016* * The dates of duration of authorisation in e-Business Register have no legal effect. If the data does not indicate the duration of authorisation, the member of the management board might be elected for an unspecified term (subsection 184(2) of the Commercial Code). Currently related in Estonia to the following companies: 1 Aktsiaselts Qualitex (10083205) (Active) 2 RReliable OÜ (11294507) (Active)

Specifications of the rights of representation The company may be represented only by two members of executive board jointly.

Authorised signature

:

Mr Sharma, Vishal

Mr Tripathi, Deo Prasad Brij Mohan

Changes in Registration Data

- 12.12.2012

:

managers

Sunil Marwah (Estonia, date of birth: 30.12.1963)

- 25.05.2012

:

managers, authorised signature

Mr Anubhav Mittal (Estonia, 37912180076)

- 28.04.2011

:

managers, authorised signature

Mr Sulev Lipp (Estonia, 37509090270)

- 20.05.2010

:

managers, authorised signature

Mr Raguraman Sundaramurthy (36104210085)

- 21.01.2010

:

managers, authorised signature

Mr Bhupinder Singh (Estonia, 36710284226) Pradip Rathi (Estonia, date of birth: 06.12.1969)

- 19.01.2007

:

managers, authorised signature

Mr Rajesh Navin Parikh (Estonia, 35311060312)

- 20.11.2006

:

managers, authorised signature

Mr Kripa Shankar Tripathi (Estonia, 34605260325)

- 16.09.2005

:

managers, authorised signature

Mr Venkata Subramanian Iyer (Estonia, 36608240330)

- 28.06.2004

:

managers, authorised signature

Vydas Damalakas (Estonia, date of birth: 28.02.1955 )

- 25.07.2001

:

managers, authorised signature

Rajesh Bindal (Estonia, date of birth: 20.07.1955 )

- 16.10.2000

:

managers, authorised signature

Shikant Ganesh Ruikar (Estonia, date of birth: 17.04.1951 ) Mr Vambo Talu (Estonia, 34911184227) Vijay Sachdeva (Estonia, date of birth: 02.06.1951 )

- 21.09.1999

:

managers, authorised signature

Mohan Khanchand Vaswani (Singapur, date of birth: 26.08.1938 ) Mrs Narinder K. G. Aswani (Estonia, 36304120412)

- 19.05.1999

:

legal address

Pärnu mnt. 50, Sindi linn, Pärnu maakond, EE3490

- 19.05.1999

:

name

Aktsiaselts Lootos 2000 Värvid

- 27.02.1997

:

shareholders

Asean Interests Limited (China Peoples Republic)

Activities

:

-	2261	Finishing plants, cotton
		(NACE 1730: Finishing of textiles)

Principal activity: Finishing of textiles NACE code: 13.30 Additional activity: - Manufacture of underwear, inc T-shirts, shirts, dressing gowns, nightdresses and similar NACE code: 14.14

Staff employed

:

110

( the data as of 31.12.2012 )

Staff History

:

-	119
	( the data as of 31.12.2011 )
-	119
	( the data as of 31.12.2010 )
-	153
	( the data as of 31.12.2008 )
-	148
	( the data as of 31.12.2007 )

Export

- 31.12.2012

:

Fiscal period: 12 month(s), currency: EUR, th

3 433.00

Sweden, Finland, Lithuania, Denmark, Germany, Latvia, European Union, Belarus, Norway, World-wide
Export share: 79%

- 31.12.2011

:

Fiscal period: 12 month(s), currency: EUR, th

4 246.00

Sweden, Finland, Lithuania, Denmark, Germany, Latvia, European Union, Belarus, Norway, Panama, World-wide
Export share: 81%

- 31.12.2010

:

Fiscal period: 12 month(s), currency: EUR, th

4 644.00

Sweden, Finland, Lithuania, Denmark, Germany, Latvia, European Union, Belarus, Norway, Panama, World-wide
Export share: 86%

Facilities

Real estate

:

According to Estonian Land Register, company required has 11 real estate objects: - Pärnumaa, Sindi linn, Pärnu mnt 50 (Production; 73545 m2) - Pärnumaa, Sindi linn, Pärnu mnt 40 (Production; 8372 m2) - Pärnumaa, Sindi linn, Pärnu mnt 28 (Production; 20411 m2) - Pärnumaa, Sindi linn, Pärnu mnt 60a (Production 100%; 62 m2) - Pärnumaa, Sindi linn, Pärnu mnt 60b (Production; 152 m2) - Pärnumaa, Sindi linn, Pärnu mnt 61a (Production; 289 m2) - Pärnumaa, Sindi linn, Vee tn 1 (Production; 2085 m2) - Pärnumaa, Sindi linn, Hariduse tn 4 (Residential Land; 1547 m2) - Pärnumaa, Sindi linn, Supluse tn 6 (Production; 21738 m2) - Pärnumaa, Sindi linn, Pärnu mnt 40a (Business Centre 100%; 1099 m2) - Pärnumaa, Sindi linn, Veetorni tn 6 (Production 100%; 1777 m2)

Other Property

:

unknown ownership:
-	Other tools & equipment - Special-purpose machinery

Branches

:

-	Shop (Sindi, Parnu county, Estonia)
	address	:	Parnu mnt 50, Sindi, Parnu county, 86703, Estonia
-	Warehouse (Sindi, Parnu county, Estonia)
	address	:	Parnu mnt 50, Sindi, Parnu county, 86703, Estonia

Subsidiaries and Participation

:

-	QUALITEX BALTIC (Estonia)				100.00 %
		share's book value	:	2 500 EUR
		reg. number	:	12317357
		address	:	Parnu mnt 50, Sindi, Parnu county, 86703, Estonia

Bankers

:

-	SEB Pank (Estonia)
	address	:	Tornimae 2, Tallinn, Harju county, 15010, Estonia
	reg. number	:	10004252
	bank code	:	401

Suppliers

:

-	Gerber (United States of America)
-	James H Heal (United Kingdom)
-	Mayer & Cie (Germany)
-	Santex (Switzerland)
-	Thies (Germany)

Other associated Companies

:

-	Tolaram Grupp (British Virgin Islands)
	/group of companies/

Litigation

:

none

Since 01.01.2010. There are no warnings recorded by the State Register. There are no registered legal actions against company required.

Remarks on payment

- 21.10.2010

:

Debt collection (confirmed)				2 000.00 EUR
	payment status	:	complete

( the data as of 23.11.2010, cancelled since 23.11.2010 )

:

yes

- 02.03.2009

:

Local databases (confirmed)				12 800.00 EUR [E]
	payment status	:	complete

( the data as of 02.03.2009, cancelled since 07.04.2009 )

- 27.09.0200

:

Local databases (confirmed)				1 254 400.00 EUR [E]
	payment status	:	complete

Sector: banking

( the data as of 27.09.0200, cancelled since 11.09.2009 )

(*) the tax debt is repaid in installments History of debts to Estonian government: 01.09.2013 (*) / 7 457 EUR 01.05.2013 (*) / 12 714 EUR 01.03.2013 (*) / 11 120 EUR 01.02.2013 (*) / 23 120 EUR 01.06.2012 (*) / 7 595 EUR 01.05.2012 (*) / 19 245 EUR 01.04.2012 (*) / 19 245 EUR 01.03.2012 (*) / 17 971 EUR 01.02.2012 (*) / 32 971 EUR 01.01.2012 / 8 409 EUR 01.09.2011 (*) / 8 694 EUR 01.08.2011 (*) / 18 377 EUR 01.07.2011 (*) / 19 275 EUR 01.06.2011 (*) / 36 509 EUR 01.05.2011 (*) / 18 936 EUR 01.04.2011 / 36 066 EUR 01.03.2011 / 44 020 EUR 01.02.2011 (*) / 45 171 EUR 01.01.2011 (*) / 46 608 EUR Debts to Estonian government: No current tax debts. Previously, company had tax debts. See information above. Other debts: Yes. 2 debts registered, 2 are paid off. IGK databases: Yes. 1 debt registered, it's paid off.

Business mortgages

- 09.08.2002

:

Commercial pledge				51 000 000 EEK
	pledgee	:	SEB Pank (Estonia) reg. number: 10004252 address: Tornimae 2, Tallinn, Harju county, 15010, Estonia

- 30.04.1999

:

Commercial pledge				45 000 000 EEK
	pledgee	:	SEB Pank (Estonia) reg. number: 10004252 address: Tornimae 2, Tallinn, Harju county, 15010, Estonia

Financial Elements

Period, months	12	12	12
Ended	31.12.2012	31.12.2011	31.12.2010
Currency	EUR th	EUR th	EUR th
===== BALANCE SHEET ====================
--- A S S E T S --------------------
NON-CURRENT ASSETS
- Intangible assets
- Fixed assets	4 626.00	7 712.00	8 019.00
- Investments in tangible assets	2 594.00	0.00
- Financial assets	3.00	0.00
- Other non-current assets
Non-current assets total	7 223.00	7 712.00	8 019.00
CURRENT ASSETS
- Stock	608.00	466.00	574.00
- Debtors	453.00	487.00	420.00
- Other receivables
- Short-term financial investments
- Cash	13.00	12.00	10.00
- Other current assets
Current assets total	1 074.00	965.00	1 004.00
Assets total	8 297.00	8 677.00	9 023.00
--- EQUITY AND LIABILITIES ---------
CAPITAL AND RESERVES
- Share capital	6 084.00	6 084.00	6 084.00
- Additional capital
- Other capital
- Reserve capital	4.00	2.00	2.00
- Retained earnings (Non-covered loss)	-2 016.00	-1 887.00	-1 895.00
Capital and reserves total	4 072.00	4 199.00	4 191.00
Provisions
LONG-TERM LIABILITIES
- Loans and credits	2 578.00	2 336.00	165.00
- long-term amounts owed to banks
- Other long-term liabilities
Long-term liabilities total	2 578.00	2 336.00	165.00
SHORT-TERM LIABILITIES
- Loans and credits	1 007.00	1 581.00	3 798.00
- short-term amounts owed to banks
- Creditors	640.00	561.00	869.00
- trade debts
- accrued payroll
- tax liabilities
- other creditors
- advances received
- Dividends in arrears
- Accrued income, deferred charges
- Other short-term liabilities
Short-term liabilities total	1 647.00	2 142.00	4 667.00
Liabilities total	4 225.00	4 478.00	4 832.00
Equity and liabilities total	8 297.00	8 677.00	9 023.00
===== PROFIT AND LOSS ACCOUNT ==========
ORDINARY ACTIVITY INCOME AND CHARGES
Net sales	4 327.00	5 251.00	5 416.00
Cost of goods sold	-2 709.00	-3 155.00	3 723.00
Gross profit
Distribution costs	-890.00	-1 006.00	991.00
Administrative and management costs
Profit on sales
OPERATING INCOME AND CHARGES
Interest receivable
Interest payable
Income from participating interests
Other operating income	154.00	20.00	544.00
Other operating charges	-930.00	-938.00	1 041.00
Operating profit
INVESTMENT INCOME AND CHARGES
Investment income less charges	-79.00	-164.00	-192.00
Profit before taxation	-127.00	8.00	13.00
Income-tax and other similar payments
Profit (loss) from ordinary activity
Extraordinary income less charges
Net profit	-127.00	8.00	13.00
- - - - - - - KEY RATIOS - - - - - - -
Return on sales, %	-2.94	0.15	0.24
Profit before taxation / Net sales
Operating margin of profit, %
Operating profit / Net sales
Return on investment, %	-3.12	0.19	0.31
Profit before taxation / Equity
Current assets turnover	4.03	5.44	5.39
Net sales / Current assets
Working capital	-573.00	-1 177.00	-3 663.00
Current assets - Short-term liabilities
Leverage	0.49	0.48	0.46
Equity / Total assets
Current ratio	0.65	0.45	0.22
Current assets / Short-term liabilities
Quick ratio	0.28	0.23	0.09
(Current assets - Stock) / Short-term liabilities
Debt-to-equity ratio	1.04	1.07	1.15
Total liabilities / Equity

Publications

:

No important publications in mass-media regarding company required.

FINAL COMMENTS

The information given in this report was received from all accessible sources. We had sent our questionnaire form to the company by an email: qualitex@qualitex.ee and called by the tel. number: +372 4426840. If further information is received, we will update the report.

Registration History

- date n/a

:

Other Code	:	01315591
Registr. authority	:	Entrepreneur register (Estonia)

Capital History

- 22.02.2010

:

95 200 400 EEK (registered)

( the data as of 22.02.2010, cancelled since 17.02.2011 )

- 18.12.2008

:

151 200 400 EEK (registered)

( the data as of 18.12.2008, cancelled since 22.02.2010 )

- 21.09.1999

:

151 100 400 EEK (registered)

( the data as of 21.09.1999, cancelled since 18.12.2008 )

- 27.08.1996

:

95 100 400 EEK (registered)

( the data as of 27.08.1996, cancelled since 21.09.1999 )

APPENDIX A

Financial Statements

Period, months	12	12	12
Ended	31.12.2012	31.12.2011	31.12.2010
Currency	EUR th	EUR th	EUR th
BALANCE SHEET
A S S E T S
CURRENT ASSETS
1. CASH IN BANK AND IN HAND	13.00	12.00	10.00
2. SHORT-TERM FINANCIAL INVESTMENTS
3. RECEIVABLES AND PREPAYMENTS
3.1 Customer receivables
3.2. Prepaid and deferred taxes
3.3. Other short-term receivables
3.4. Prepaid services
3. RECEIVABLES AND PREPAYMENTS TOTAL	453.00	487.00	420.00
4. INVENTORIES
4.1 Raw materials
4.2 Work in progress
4.3 Finished goods
4.4 Goods for resale
4.5 Prepayments for inventories
4. INVENTORIES TOTAL	608.00	466.00	574.00
5. BIOLOGICAL ASSETS
6. NON-CURRENT ASSETS HELD FOR SALE
TOTAL CURRENT ASSETS	1 074.00	965.00	1 004.00
NON-CURRENT ASSETS
7. LONG-TERM FINANCIAL INVESTMENTS
7.1 Shares in subsidiary companies
7.2 Shares in associates
7.3 Other shares and securities
7.4 Long-term accounts receivable
7. LONG-TERM FINANCIAL INVESTMENTS TOTAL	3.00	0.00
8. INVESTMENT PROPERTIES	2 594.00	0.00
9. TANGIBLE ASSETS
9.1. Land
9.2. Buildings
9.3. Machinery and equipment
9.4. Other tangible assets
9.5. Construction-in-progress and prepayments for
tangible assets
9. TANGIBLE ASSETS TOTAL	4 626.00	7 712.00	8 019.00
10. BIOLOGICAL ASSETS
11. INTANGIBLE ASSETS
11.1. Goodwill
11.2. Development costs
11.3. Other intangible assets
11.4. Prepayments for intangible assets
11. INTANGIBLE ASSETS TOTAL
NON-CURRENT ASSETS TOTAL	7 223.00	7 712.00	8 019.00
TOTAL ASSETS	8 297.00	8 677.00	9 023.00
SHORT-TERM LIABILITIES
12. LOAN LIABILITIES
12.1. Short-term loans and notes
12.2. Current portion of long-term debt
12.3. Convertible debts
12. LOAN LIABILITIES TOTAL	1 007.00	1 581.00	3 798.00
13. DEBTS AND PAYABLES
13.1. Supplier payables
13.2. Employee-related liabilities
13.3. Taxes payable
13.4. Other debts
13.5. Prepayments received
13. DEBTS AND PAYABLES TOTAL	640.00	561.00	869.00
14. SHORT-TERM PROVISIONS
15. TARGETED FINANCING
SHORT-TERM LIABILITIES TOTAL	1 647.00	2 142.00	4 667.00
LONG-TERM LIABILITIES
16. LONG-TERM LOAN LIABILITIES
16.1. Loans, notes and financial lease payables
16.2. Covertible debts
16. LONG-TERM LOAN LIABILITIES TOTAL	2 578.00	2 336.00	165.00
17. OTHER LONG-TERM DEBTS
18. LONG-TERM PROVISIONS
19. TARGETED FINANCING
LONG-TERM LIABILITIES TOTAL	2 578.00	2 336.00	165.00
LIABILITIES TOTAL	4 225.00	4 478.00	4 832.00
20. SHARE CAPITAL	6 084.00	6 084.00	6 084.00
20.a. OTHER CAPITAL
21. UNREGISTERED SHARE CAPITAL
22. SHARE PREMIUM
23. LESS TREASURY SHARES
24. Statutory legal reserve	4.00	2.00	2.00
25. Other reserves
26. RETAINED EARNINGS	-1 889.00	-1 895.00	-1 908.00
27. NET PROFIT/ LOSS FOR FINANCIAL YEAR	-127.00	8.00	13.00
EQUITY TOTAL	4 072.00	4 199.00	4 191.00
EQUITY AND LIABILITIES TOTAL	8 297.00	8 677.00	9 023.00
INCOME STATEMENT format 1 or 2
1. NET SALES format 1	4 327.00	5 251.00	5 416.00
2. Other income	78.00	130.00	504.00
3. Change in inventories of agricultural goods
4. Profit (loss) on biological inventories
5. Changes in inventories of finished goods and work in	76.00	-110.00	40.00
progress
6. Work performed by the undertaking for its own purpose
and capital
7. Goods, raw materials and services	-2 709.00	-3 155.00	3 723.00
8. Other operating expenses	-367.00	-359.00	420.00
9. STAFF COSTS
9.a. Wages and salaries
9.b. Social security costs
9.c. Pension expenses
9. STAFF COSTS TOTAL	-890.00	-1 006.00	991.00
10. Depreciation and impairment of fixed assets	-541.00	-539.00	564.00
11. Other expenses	-22.00	-40.00	57.00
1. NET SALES format 2
2. Change in inventories of agricultural goods
3. Profit (loss) on biological inventories
4. Cost of sales
GROSS PROFIT (LOSS)
5. Marketing expenses
6. Administration and general expenses
7. Other income
8. Other expenses
OPERATING PROFIT (LOSS)	-48.00	172.00	205.00
12. FINANCIAL INCOME AND EXPENSES
12.a. Financial income and expenses from shares in subsidiaries
12.b. Financial income and expenses from shares in associates
12.c. Financial income and expenses from long-term
financial investments
12.d. Interest expense
12.e. Profit (loss) on translation of foreign currencies
12.f. Other financial income and expenses
12. TOTAL FINANCIAL INCOME AND EXPENSES	-79.00	-164.00	-192.00
PROFIT(LOSS) ON ORDINARY ACTIVITIES	-127.00	8.00	13.00
13. Income tax expense
NET PROFIT (LOSS) FOR FINANCIAL YEAR	-127.00	8.00	13.00

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.40
UK Pound	1	Rs.99.28
Euro	1	Rs.83.68

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%)

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.