MIRA INFORM REPORT

 

 

Report Date :

28.10.2013

 

IDENTIFICATION DETAILS

 

Name :

LONDON & SCANDINAVIAN  METALLURGICAL CO LIMITED

 

 

Registered Office :

Fullerton Road Rotherham South Yorkshire S60 1DL

 

 

Country :

United Kingdom

 

 

Financials (as on) :

31.12.2012

 

 

Date of Incorporation :

15.10.1938

 

 

Com. Reg. No.:

00345279

 

 

Legal Form :

Private limited with Share Capital

 

 

Line of Business :

Manufacture of other chemical products

 

 

No. of Employees :

345

 

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 :

Regular

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 identification

 

 

LONDON  &  SCANDINAVIAN  METALLURGICAL CO LIMITED

 

Telephone

 

+44 017 0982 8500

 

 

 

 

LONDON & SCANDINAVIAN

Fax

-

METALLURGICAL CO LTD

Website

www.lsm.co.uk

FULLERTON ROAD ROTHERHAM

SOUTH YORKSHIRE

S60 1DL

United Kingdom

 

 

 

Company Number: Foundation:

 

00345279

15/10/1938

 

Status:

 

Active - Accounts Filed

 

 

 

 

Comments  

 

No exact match CCJs are recorded against the company. Net Worth increased by 3.3% during the latest trading period. The company saw an increase in their Cash Balance of 240.7% during the latest trading period. The audit report contains

no adverse comments.

The credit limit on this company has fallen 28.6% in comparison to the previously suggested credit limit. Sales in the latest trading period decreased 39.4% on the previous trading period. A 9.6% decline in Total Assets occurred during the latest trading period. Pre-tax profits decreased by 39.3% compared to the previous trading period.

There has been no significant change in the company’s credit rating. The company has undergone recent changes in its directorships. The company is part of a group. The company was established over 74 years ago.

 

 

Basic information

 

Legal form

 

Private limited with Share Capital

 

Foundation

 

15/10/1938

 

Company No.

 

00345279

 

shareholders

 

Name

Currency

Number of shares

Share type

Nominal value

METALLURG EUROPE LTD

GBP

16,000,000

ORDINARY

1

Total Share Capital                                                                                            GBP 16,000,000

 

 

Management

 

Directors

Name

Address:

Date of birth

Nationality

Appointment date

Mr Eric Emil Jackson

London & Scandinavian, Metallurgical Co Ltd, Fullerton Road Rotherham, South Yorkshire S60 1DL

04/01/1953

American

11/12/1998

Mr David Jonathan Elliott Beare

London & Scandinavian, Metallurgical Co Ltd, Fullerton Road Rotherham, South Yorkshire S60 1DL

05/01/1970

British

05/10/2006

Mr Itamar Dutra Pereira De Resende

London & Scandinavian, Metallurgical Co Ltd, Fullerton Road Rotherham, South Yorkshire S60 1DL

04/08/1960

Brazilian

05/10/2006

Mr Scott Robson Carr

London & Scandinavian, Metallurgical Co Ltd, Fullerton Road Rotherham, South Yorkshire S60 1DL

07/09/1962

British

01/06/2014

Mr Jonathan Hamer

London & Scandinavian, Metallurgical Co Ltd, Fullerton Road Rotherham, South Yorkshire S60 1DL

01/11/1967

British

12/08/2009

Mr Andrew Sims

London & Scandinavian, Metallurgical Co Ltd, Fullerton Road Rotherham, South Yorkshire S60 1DL

03/10/1959

British

12/08/2009

Ms Amy Ard

London & Scandinavian, Metallurgical Co Ltd, Fullerton Road Rotherham, South Yorkshire S60 1DL

12/05/1975

American

06/06/2013

 

 

 

Mr Jonathan Hamer

 

London & Scandinavian, Metallurgical Co Ltd, Fullerton Road Rotherham, South Yorkshire S60 1DL

 

01/11/1967   British

 

12/08/2009

 

 

Company Secretary

 

Name                           Address:                                                                                   Appointment

date

Mr Jonathan Hamer        London & Scandinavian, Metallurgical Co Ltd,                      03/08/2008

Fullerton Road Rotherham, South Yorkshire S60

1DL

 

Other known addresses

 

45 Coalpit Lane, Lower Cumberworth, Huddersfield, West Yorkshire HD8 8PL

London & Scandinavian, Metallurgical Co Ltd, Fullerton Road, Rotherham, South Yorkshire S60 1DL

 

 

Company relationships

 

 

 

  Company No.     Name                                                             Status             Country                        

   Ultimate parent                                                                                                                                  

342611280000        AMG Advanced Metallurgical Group N.V.           Active              Luxembourg

 

   Subsidiary companies                                                                                                                        

00961050               ALUMINIUM POWDER COMPANY LIMITED      Active              United Kingdom (THE)

   Immediate parent                                                                                                                              

04057900               METALLURG EUROPE LIMITED                       Active              United Kingdom

 

 

 

 

Business activities

 

Main activity

 

Manufacture of other chemical products n.e.c.

Economic data

 

Turnover  and Employees

 

Date of Accounts                 Turnover                                                               Employees

31/12/2010                    GBP 164,964,530                                  310

31/12/2011                    GBP 204,364,409                                  342

31/12/2012                    GBP 123,878,243                                  345

 

 

Banks

 

Bank Name                  Bank Branch Sort Code

HSBC BANK                 PLC 40-39-07                                      

   

 

auditor                                  

 

Auditor name

ERNST & YOUNG LLP

 

 

Events

 

 

 

 

Events                                                                                                                                                     

 

 

   Company history        

  Date                            Action                                                                                                           

22/01/2009                      New Board Member Mr M.D. Richards appointed

 

30/06/2009                      New Accounts Filed

 

14/07/2009                      Annual Returns

 

16/12/2009                      Change in Reg.Office

 

 

 

 

 

17/12/2009                      Mr M.D. Richards has left the board

 

17/12/2009                      New Board Member Mr A. Sims appointed

 

17/12/2009                      New Board Member Mr J. Hamer appointed

 

21/07/2010                      Annual Returns

 

03/08/2010                      New Accounts Filed

 

03/08/2010                      New Accounts Filed

 

16/07/2011                      Annual Returns

 

08/10/2011                      New Accounts Filed

 

08/10/2011                      New Accounts Filed

 

04/07/2012                      New Accounts Filed

 

04/07/2012                      New Accounts Filed

 

13/07/2012                      Mr S.R. Thistlethwaite has left the board

 

17/07/2012                      Annual Returns

 

26/07/2012                      New Board Member Mr K. Lawson appointed

 

25/01/2013                      Mr K. Lawson has left the board

 

25/01/2013                      New Board Member Mr S.R. Carr appointed

 

11/06/2013                      Mr W. Levy has left the board

 

12/06/2013                      New Board Member Ms A. Ard appointed

 

12/07/2013                      Annual Returns

 

07/10/2013                      New Accounts Filed

 

07/10/2013                      New Accounts Filed

 

Mortgage

 

Mortgage type

GUARANTEE AND DEBENTURE

Charge created

14/08/1975

Charge registered

27/08/1975

Status

SATISFIED

Entitled person

T S NORBURG AND CO LTD

Secured amount

FOR SECURING ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNTWHATSOEVER

Mortgage detail

FIXED AND FLOATING CHARGE ON THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL UNCALLEDCAPITAL TO- GETHER WITH THE BUILDINGS FIXTURES INCLUDING TRADE FIXTURES AND FIXEDPLANT AND MACHINERY FROM TIME TO TIME THEREON

 

 

Mortgage type

DEBENTURE

Charge created

22/04/2004

Charge registered

05/05/2004

Status

SATISFIED

Entitled person

BARCLAYS BANK PLC

Secured amount

ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER

Mortgage detail

FIXED AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS UN- CALLED CAPITAL BUILDINGS FIXTURESFIXED PLANT AND MACHINERY

 

 

Mortgage type

LEGAL CHARGE

Charge created

22/04/2004

Charge registered

05/05/2004

Status

SATISFIED

Entitled person

BARCLAYS BANK PLC

Secured amount

ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER

Mortgage detail

F/H LAND AND BUILDINGS AT FULLERTON ROAD CANKLOW ROTHERHAM SOUTH YORKSHIRE T/NOSYK388369

 

 

Mortgage type

DEBENTURE

Charge created

22/04/2004

Charge registered

30/04/2004

Status

SATISFIED

Entitled person

HSBC BANK PLC

Secured amount

ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER

Mortgage detail

FIXED AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS UN- CALLED CAPITAL BUILDINGS FIXTURESFIXED PLANT AND MACHINERY

 

 

 

 

Mortgage type

LEGAL MORTGAGE

Charge created

22/04/2004

Charge registered

30/04/2004

 

Status

SATISFIED

Entitled person

HSBC BANK PLC

Secured amount

ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER

Mortgage detail

LAND AND BUILDINGS SITUATED AT FULLERTON ROAD, CANKLOW T/NOS. SYK405963 AND SYK388369 WITH  THE BENEFIT OF  ALL RIGHTS LICENCES GUARANTEES RENT DEPOSITS CONTRACTS DEEDS UNDERTAKINGS AND WAR- RANTIES RELATINGTO THE PROPERTY ANY SHARES OR MEMBERSHIP RIGHTS IN ANY MANAGEMENT COMPANY FOR THE PROPERTY ANY GOODWILL OF ANY BUSINESSFROM TIME TO TIME CARRIED ON AT THE PROPERTY ANY RENTAL AND OTHER MONEY PAYABLEUNDER ANY LEASE LICENCE OR OTHER INTEREST CREATED IN RESPECT OF THE PROPERTY AND ALL OTHER PAYMENTS WHAT- EVER IN RESPECTOF THE PROPERTY

 

 

Mortgage type

LEGAL CHARGE

Charge created

03/08/2004

Charge registered

21/08/2004

Status

SATISFIED

Entitled person

BARCLAYS BANK PLC

Secured amount

ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER

Mortgage detail

F/H PROPERTY K/A LAND AT FULLERTON ROAD, CANKLOW, ROTHERHAM, SOUTH YORKSHIRE S60 1DL T/N SYK405963

 

 

Mortgage type

GUARANTEE

 

 

Debenture

 

Charge created

13/08/2004

Charge registered

27/08/2004

Status

SATISFIED

Entitled person

MHR  INSTITUTIONAL  PARTNERS  II  LP  AS  AGENT  AND  TRUSTEE  FOR  THE LENDERS (THE COLLATERAL AGENT)

Secured amount

ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO ANY OF THE SE- CURED PARTIES UNDER THE TERMS OF THE AFOREMENTIONED INSTRUMENT CREATING OR EVIDENCING THE CHARGE

Mortgage detail

F/H PROPERTY K/A LAND AND BUILDINGS AT FULLERTON ROAD CANKLOW ROTHERHAM SOUTH YORKSHIRE T/NOS SYK202952, SYK203434, SYK388369 AND SYK405963. ALL ESTATES OR INTERESTS IN THE F/H L/H AND OTHER IM- MOVABLE PROPERTY AND THE PROCEEDS OF SALE THEREOF AND ALL BUILD- INGS AND TRADE AND OTHER FIXTURES, ALL PLANT MACHINERY VEHICLE- SCOMPUTERS AND OFFICE AND OTHER EQUIPMENT, THE SHARES AND INVEST- MENTS, THE GOODWILL, ALL COPYRIGHTS, THE ACCOUNTS AND ALL MONE- TARY CLAIMS. BY WAY OF FLOATING CHARGE THE UNDERTAKING AND ALL ITS PROPERTY ASSETS AND RIGHTS SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS

 

 

Mortgage type

SECURITY OVER SHARES AGREEMENT

Charge created

25/09/2007

Charge registered

09/10/2007

Status

SATISFIED

Entitled person

CREDIT SUISSE, LONDON BRANCH

 

 

Mortgage detail

THE CHARGED SHARES AND ANY DIVIDEND INTEREST OR OTHER DISTRIBU- TION PAID OR PAYABLESEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DE- TAILS

 

 

Mortgage type

SECURITY OVER SHARES AGREEMENT

Charge created

25/09/2007

Charge registered

09/10/2007

Status

SATISFIED

Entitled person

CREDIT SUISSE, LONDON BRANCH

Mortgage detail

THE CHARGED SHARES AND ANY DIVIDEND INTEREST OR OTHER DISTRIBU- TION PAID OR PAYABLESEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DE- TAILS

 

 

Mortgage type

SECURITY AGREEMENT

Charge created

13/02/2008

Charge registered

15/02/2008

Status

SATISFIED

Entitled person

CREDIT SUISSE, LONDON BRANCH

Mortgage detail

FIXED AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS UN- CALLED CAPITAL BUILDINGS FIXTURESFIXED PLANT AND MACHINERYSEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS

 

 

Mortgage type

FIXED AND FLOATING SECURITY DOCUMENT

Charge created

11/05/2011

Charge registered

17/05/2011

Status

OUTSTANDING

Entitled person

COMMERZBANK AKTIENGESELLSCHAFT, LUXEMBOURG BRANCH

Secured amount

ALL MONIES DUE OR TO BECOME DUE FROM ANY OBLIGOR TO ANY SECURED PARTY ON ANY ACCOUNT WHATSOEVER UNDER THE TERMS OF THE AFORE- MENTIONED INSTRUMENT CREATING OR EVIDENCING THE CHARGE

Mortgage detail

(FOR DETAILS OF ACTUAL PROPERTIES CHARGED PLEASE REFER TO THE FORM MG01); FIXEDAND FLOATING CHARGE OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE, INCLUDING GOODWILL, BOOK DEBTS, UNCALLED CAPITAL, FIXTURES, FIXED PLANT AND MACHINERY. SEE IM- AGE FOR FULL DETAILS

 

Country court judgements (CC Js)

 

There are no County Court Judgments listed against this company

 

Profit and  loss

 

 

31/12/2012

52

GBP

Group: Yes

31/12/2011

52

GBP

Group: Yes

31/12/2010

52

GBP

Group: Yes

31/12/2009

52

GBP

Group: Yes

Turnover

123,878,243

204,364,409

164,964,530

101,717,697

Export

-

-

-

-

Cost of Sales

113,917,678.23

187,082,999.56

147,439,055.84

93,602,285.12

Gross Profit

9,960,564.42

17,281,409.82

17,525,474.01

8,115,411.77

Wages And Salaries

12,202,846

12,648,961

13,235,521

11,356,954

Directors Emoluments

1,212,027.85

1,321,091.87

1,358,183.92

901,213.17

Operating Profit

4,718,713.41

9,055,394.66

8,720,495.29

-

Depreciation

1,343,890.56

1,880,584.13

1,905,713.91

1,894,858.46

Audit Fees

86,881.5

74,557.89

123,178.12

98,851.01

Interests Payments

2,886,191.38

3,136,360.83

3,478,008.51

3,150,394.76

Pre Tax Profit

6,061,372

9,979,050

9,019,089

2,000,770

Taxation

-516,359.6

-2,321,153.49

-737,134.01

-639,964.05

Profit After Tax

5,545,012.01

7,657,896.35

8,281,955.37

1,360,806.21

Dividends Payable

0

0

0

3,209,448.61

Retained Profit

3,976,831.59

5,346,601.76

8,222,623.5

-1,816,547.91

 

 

Balance sheet

 

 

31/12/2012

52

GBP

Group: Yes

31/12/2011

52

GBP

Group: Yes

31/12/2010

52

GBP

Group: Yes

31/12/2009

52

GBP

Group: Yes

Tangible Assets

13,189,352

13,503,605

15,126,403

14,084,986

Intangible Assets

1,086,943

930,433

973,817

969,253

Total Fixed Assets

14,276,296

14,434,038

16,100,219

15,054,240

Stock

16,530,901

26,227,124

31,946,988

21,967,392

Trade Debtors

11,091,256

20,997,597

20,658,455

15,289,813

Cash

15,746,503

4,621,357

5,144,460

2,577,829

Other Debtors

9,568,057

16,806,951

13,485,103

11,187,496

Miscellaneous Current Assets

8,487,276

655,000

1,336,902

1,194,557

Total Current Assets

61,423,994

69,308,029

72,571,908

52,217,087

Trade Creditors

11,340,193

19,216,834

22,249,452

10,636,113

Bank Loans and Overdraft

0

0

0

0

Other Short Term Finance

2,520,180

2,700,721

2,052,754

2,265,229

Miscellaneous Current Liabilities

2,343,336

4,198,657

5,321,166

3,902,048

Total Current Liabilities

16,203,709

26,116,212

29,623,372

16,803,389

Bank Loans and Overdrafts LTL

1,749,954

1,857,785

2,007,610

2,452,661

Other Long Term Finance

0

0

0

0

Total Long Term Liabilities

1,749,954

1,857,785

2,007,610

2,452,661

 

 

Capital and reserve

 

 

31/12/2012

52

GBP

Group: Yes

31/12/2011

52

GBP

Group: Yes

31/12/2010

52

GBP

Group: Yes

31/12/2009

52

GBP

Group: Yes

Called Up Share Capital

18,915,522

18,915,522

19,797,498

19,704,731

P and L Account Reserve

20,955,080

19,990,757

18,551,528

10,280,506

Revaluation Reserve

0

0

0

0

Sundry Reserves

17,876,024

16,861,791

18,692,119

18,030,040

Shareholders Funds

57,746,626

55,768,070

57,041,145

48,015,277

 

Other financial items

 

 

31/12/2012

52

GBP

Group: Yes

31/12/2011

52

GBP

Group: Yes

31/12/2010

52

GBP

Group: Yes

31/12/2009

52

GBP

Group: Yes

Net Worth

56,659,683

54,837,636

56,067,329

47,046,023

Working Capital

45,220,285

43,191,817

42,948,536

35,413,698

Total Assets

75,700,289.6

83,742,066.66

88,672,126.9

67,271,326.78

Total Liabilities

17,953,663

27,973,997

31,630,982

19,256,050

Net Assets

57,746,626

55,768,070

57,041,145

48,015,277

 

 

Cash flow

 

 

31/12/2012

52

GBP

Group: Yes

31/12/2011

52

GBP

Group: Yes

31/12/2010

52

GBP

Group: Yes

31/12/2009

52

GBP

Group: Yes

Net Cash Flow from Operations

19,117,013

1,478,834

4,814,910

1,539,893

Net Cash Flow before Financing

11,130,692

-245,856

2,630,595

3,059,888

Net Cash Flow from Financing

0

0

0

-3,209,449

Increase in Cash

11,125,146

-523,103

2,566,631

-3,341,333

 

 

Miscellaneous

 

 

31/12/2012

52

GBP

Group: Yes

31/12/2011

52

GBP

Group: Yes

31/12/2010

52

GBP

Group: Yes

31/12/2009

52

GBP

Group: Yes

Capital Employed

59,496,580

57,625,855

59,048,755

50,467,938

 

 

Ratios

 

Pre Tax Profit Margin

4.89 %

4.88 %

5.47 %

1.97 %

Current Ration

3.79

2.65

2.45

3.11

Sales or Net Working Capital

2.74

4.73

3.84

2.87

Gearing

3.03 %

3.33 %

3.52 %

5.11 %

Equity

77.39 %

67.34 %

65.04 %

72.42 %

Creditor Days

33.32

34.22

49.09

38.06

Debtor Days

32.59

37.39

45.58

54.71

Liquidity or Acid test

2.77

1.64

1.37

1.80

Return on Capital Employed

10.18 %

17.31 %

15.27 %

3.96 %

Return on Total Assets Employed

8.00 %

11.91 %

10.17 %

2.97 %

Current Debt Ratio

0.28 %

0.46 %

0.51 %

0.34 %

Total Debt Ratio

0.31 %

0.50 %

0.55 %

0.40 %

Stock Turnover Ratio

13.34 %

12.83 %

19.36 %

21.59 %

Return on Net Assets Employed

10.49 %

17.89 %

15.81 %

4.16 %

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.63

UK Pound

1

Rs.99.94

Euro

1

Rs.85.14

 

 

INFORMATION DETAILS

 

Report Prepared by :

NIS

 

 

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.