MIRA INFORM REPORT

 

 

Report Date :

24.09.2013

 

IDENTIFICATION DETAILS

 

Name :

CREST LEATHERS LTD. 

 

 

Registered Office :

Adla House 2a Hayes Crescent Temple Fortune London, NW11 0DE

 

 

Country :

United Kingdom

 

 

Financials (as on) :

31.12.2012

 

 

Date of Incorporation :

06.08.1998

 

 

Com. Reg. No.:

03610819

 

 

Legal Form :

Private Subsidiary

 

 

Line of Business :

Subject produces leather hides for the furniture industry.

 

 

No. of Employees :

21

 

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

 

Crest Leathers Ltd. 

 

Adla House

2a Hayes Crescent

Temple Fortune

London, NW11 0DE

United Kingdom

(Trading Address) 

 

 

Tel:

020 8457 7129

Fax:

020 8458 2517

 

 

 

Employees:

21

Company Type:

Private Subsidiary

Corporate Family:

3 Companies

Ultimate Parent:

Crest International Holdings Ltd

 

 

Quoted Status:

Non-quoted Company

Incorporation Date:

06-Aug-1998

Auditor:

Moore Stephens LLP

 

 

Fiscal Year End:

31-Dec-2012

Reporting Currency:

US Dollar

Annual Sales:

79.1  1

Net Income:

1.3

Total Assets:

42.0

 

 

Business Description     

 

Crest Leathers Ltd. produces leather hides for the furniture industry. The company operates a tannery and offers customized leather upholstery to the automotive industry. Its product line includes boxer, branco, cavallino, Cambridge, carnival, Detroit, chapparal, dollaro, excelsior, highlander, Inca, moda, moorland, mustang, old English, Panama, project, rub off, sadellino and savage. Additionally, it provides wall tiles and leather tiles for luxury housing complexes. It also offers colour and design services and custom leather cleaning kits.

 

Industry      

 

Industry

Clothing and Apparel Manufacturing

ANZSIC 2006:

1320 - Leather Tanning, Fur Dressing and Leather Product Manufacturing

ISIC Rev 4:

1511 - Tanning and dressing of leather; dressing and dyeing of fur

NACE Rev 2:

1511 - Tanning and dressing of leather; dressing and dyeing of fur

NAICS 2012:

316110 - Leather and Hide Tanning and Finishing

UK SIC 2007:

1511 - Tanning and dressing of leather; dressing and dyeing of fur

US SIC 1987:

3111 - Leather Tanning and Finishing

 

 Key Executives  

           

Name

Title

Chirhe Patel

Managing Director

Ketan Bhupendra Patel

Secretary

Chirag Bupendrabhai Patel

Director

Alessandro Rigoni

Director

Philip Wilson Stewart

Director

 

Financial Summary    

 

FYE: 31-Dec-2012

USD (mil)

Key Figures

 

Current Assets

39.99

Fixed Assets

1.97

Total Liabilities

29.38

Net Worth

7.36

 

Key Ratios

 

Current Ratio

1.36

Acid Test

0.67

Debt Gearing

57.19

 

Registered No.(UK)  03610819

 

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


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

 

 

Corporate Overview

 

Location
Adla House
2a Hayes Crescent
Temple Fortune
London, NW11 0DE
London County 
United Kingdom

 

Tel:

020 8457 7129

Fax:

020 8458 2517

 

 

Sales USD(mil):

79.1

Assets USD(mil):

42.0

Employees:

21

Fiscal Year End:

31-Dec-2012

 

Industry:

Apparel and Accessories

Registered Address:
Adla House
2A Hayes Crescent
Temple Fortune
London, NW11 0DE
United Kingdom

 

Incorporation Date:

06-Aug-1998

Company Type:

Private Subsidiary

Quoted Status:

Not Quoted

Registered No.(UK):

03610819

 

Managing Director:

Chirhe Patel

 

Industry Codes

 

ANZSIC 2006 Codes:

1320

-

Leather Tanning, Fur Dressing and Leather Product Manufacturing

 

ISIC Rev 4 Codes:

1511

-

Tanning and dressing of leather; dressing and dyeing of fur

 

NACE Rev 2 Codes:

1511

-

Tanning and dressing of leather; dressing and dyeing of fur

 

NAICS 2012 Codes:

316110

-

Leather and Hide Tanning and Finishing

 

US SIC 1987:

3111

-

Leather Tanning and Finishing

 

UK SIC 2007:

1511

-

Tanning and dressing of leather; dressing and dyeing of fur

Description: \\vivek\web\images\arrows\externalright.gif

Business Description

Crest Leathers Ltd. produces leather hides for the furniture industry. The company operates a tannery and offers customized leather upholstery to the automotive industry. Its product line includes boxer, branco, cavallino, Cambridge, carnival, Detroit, chapparal, dollaro, excelsior, highlander, Inca, moda, moorland, mustang, old English, Panama, project, rub off, sadellino and savage. Additionally, it provides wall tiles and leather tiles for luxury housing complexes. It also offers colour and design services and custom leather cleaning kits.

 

More Business Descriptions

Leather and Hide Products (Manufacture and Supply)

 

We are global producers of high quality leathers for all contract and domestic upholstery applications. We own and operate our own tannery in Vestenanova, Italy and this allows us to ensure strict quality control at all stages of production, whilst utilizing local and traditional skills, to ensure our leathers meet the most demanding of requirements. ENVIRONMENTAL STANDARDS We are committed to improving our environmental stance, and during the past year we have focused a lot of attention on improving our environmental standards. During 2006, we were awarded ISO 14001 certification for our tannery in Italy, which means we have achieved the highest standard of environmental management. We endeavour to continously reduce the environmental impact of all of our activities , and we maintain strictly regulated procedures designed to minimize any potential damage to the environment, which are updated and monitored regularly. As part of our ongoing commitment to improved environmental reponsibility, we have also recently signed up to the Leather Working Group, an industry-led initiative being facilitiated by the BLC Leather Technology Centre, which is bringing together many leading retailers, tanners and brands from around the world to promote sustainable and appropriate envionmental business practices within the leather industry. We expect our tanneries to undergo the LWG tannery audit process in 2008. Following guidelines set out by the Carbon Trust we are also ensuring that we are doing everything possible to prevent or recycle waste in our offices and warehouses . We believe it is not only the big gestures that matter so we are looking at the impact of everything we do and use - from the bulbs that light our offices to the transportation methods we use to deliver our goods. This is an on-going process, but we are completely committed to improving our environmental performance. QUALITY ASSURANCE Maintaining quality is very important to us, and that's why we tan our leathers in an ISO 9001 environment. However, we are very conscious of the fact that quality products are only a part of what we provide, so we also work hard to make sure that we give the highest levels of customer service. Our sales teams are knowledgeable in all aspects of leather and leather production, and are always happy and ready to help with any of your professional requirements - however challenging! Please feel free to contact us to discuss your requirements. Send your enquiry to the appropriate location address which can be found on the contacts page of this web site. Thank you for your interest in our company.

 

 

 

 

 

 

Financial Data

Financials in:

USD(mil)

 

Revenue:

79.1

Net Income:

1.3

Assets:

42.0

Current Assets:

40.0

 

Fixed Assets:

2.0

 

Long Term Debt:

4.2

 

Total Liabilities:

33.6

 

Issued Capital:

0.5

 

Working Capital:

10.6

 

Net Worth:

7.4

 

 

 

Date of Financial Data:

31-Dec-2012

 

1 Year Growth

11.4%

NA

27.9%

 

Key Corporate Relationships

Auditor:

Moore Stephens LLP

Bank:

Clydesdale Bank PLC

 

Auditor:

Moore Stephens LLP

 

Auditor History

Moore Stephens LLP

31-Dec-2012

Moore Stephens LLP

31-Dec-2011

Moore Stephens LLP

31-Dec-2010

Moore Stephens LLP

31-Dec-2009

Moore Stephens LLP

31-Dec-2008

 

 

 

USD(mil)

Audit Fees:

0.1

Non Audit Fees:

0.0

Audit Fiscal Year:

12-31-2012

 

 

 

 

 

 

Company Name

Company Type

Location

Country

Industry

Sales
(USD mil)

Employees

Crest International Holdings Ltd

Parent

 

 

 

 

 

Crest Leathers Ltd.

Subsidiary

London

United Kingdom

Clothing and Apparel Manufacturing

79.1

21

Crest Jmt Leather Ltd.

Subsidiary

Rochdale

United Kingdom

Clothing and Apparel Manufacturing

15.8

15

 

 

Executives Report

 

 

Board of Directors

 

Name

Title

Function

Chirag Bupendrabhai Patel

 

Director

Director/Board Member

Age: 45

 

Alessandro Rigoni

 

Director

Director/Board Member

 

 

Age: 42

 

Philip Wilson Stewart

 

Director

Director/Board Member

 

 

Age: 55

 

 

Executives

 

Name

Title

Function

Chirhe Patel

 

Managing Director

Managing Director

Ketan Bhupendra Patel

 

Secretary

Company Secretary

Age: 49

 


Directors and Shareholders Report

 

 

Individual Directors

Name

Status

DOB

Filed Address

Appointment Date

Resignation Date

Summary of Directorships

 

Philip Wilson 
Stewart

Current

31 Aug 1958

Adla House, 2A Hayes Crescent, 
London , London NW11 0DE

28 May 2013

NA

Current:3
Previous:6
Disqualifications:0

 

Alessandro 
Rigoni

Current

22 Oct 1970

Strada Del Brolo 29, 
Bassano Del Grappa (Vi)

02 Sep 2003

NA

Current:2
Previous:0
Disqualifications:0

 

Chirag Bupendrabhai 
Patel

Current

08 Sep 1968

22 Tomswood Road, 
Chigwell, Essex IG7 5QS

17 Aug 1998

NA

Current:3
Previous:0
Disqualifications:0

 

Ian 
Graham

Previous

06 Oct 1959

31 Herons Way, Rosehill, 
Bolton, Greater Manchester BL2 1EX

01 Jun 2001

01 Mar 2010

Current:0
Previous:1
Disqualifications:0

 

Martin Ian 
Zulberg

Previous

16 Apr 1950

575 Finchley Road, 
London , London NW3 7BN

13 Jun 2005

28 May 2010

Current:4
Previous:4
Disqualifications:0

 

Geoffrey Raymond 
Gluckman

Previous

21 Apr 1955

Adla House 2A Hayes Crescent, 
London , London NW11 0DE

24 Sep 2007

05 Dec 2008

Current:1
Previous:3
Disqualifications:0

 

Ketan Bhupendra 
Patel

Previous

02 Sep 1964

22 Tomswood Road, 
Chigwell, Essex IG7 5QS

01 Jul 2011

10 Jun 2013

Current:3
Previous:3
Disqualifications:0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate Directors

Company Name

Status

Registered Address

Appointment Date

Resignation Date

Instant Companies Limited

Previous

1 Mitchell Lane, 
Bristol, Avon BS1 6BU

06 Aug 1998

17 Aug 1998

 

 

 

 

Individual Secretaries

Name

Status

DOB

Filed Address

Appointment Date

Resignation Date

Summary of Directorships

 

Ketan Bhupendra 
Patel

Current

02 Sep 1964

22 Tomswood Road, 
Chigwell, Essex IG7 5QS

17 Aug 1998

NA

Current:3
Previous:3
Disqualifications:0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate Secretaries

Company Name

Status

Registered Address

Appointment Date

Resignation Date

Swift Incorporations Limited

Previous

1 Mitchell Lane, 
Bristol, Avon BS1 6BU

06 Aug 1998

17 Aug 1998

 

 

 

 

Individual Shareholders

Name

Share Details 
(As Reported)

Share Type

# of Shares

Share Price (GBP)

Share Value (GBP)

% of Total Shares

Crest International Holdings Ltd

500000 Ordinary GBP 1.00

Ordinary

500,000

1.00

500,000.00

100.00

 

 

 

 

 

 

 

 

Corporate Shareholders

There are no corporate shareholders for this company.

 

 

 

Financial data

 

Annual Profit & Loss

Financials in: USD (mil)



 

31-Dec-2012

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

Period Length

52 Weeks

52 Weeks

52 Weeks

52 Weeks

61 Weeks

Filed Currency

USD

USD

USD

USD

USD

Exchange Rate (Period Average)

1

1

1

1

1

Consolidated

No

No

No

No

No

 

 

 

 

 

 

Total Turnover

79.1

71.0

58.8

42.7

41.9

Cost of Sales

73.3

66.8

55.6

39.0

37.5

Gross Profit

5.7

4.2

3.2

3.7

4.5

Depreciation

0.2

0.1

0.0

0.0

0.0

Other Expenses

3.3

2.1

2.5

2.9

3.5

Operating Profit

-

2.1

0.7

-

-

Other Income

0.1

0.1

0.1

0.1

0.2

Interest Paid

0.8

0.6

0.5

0.6

0.9

Exceptional Income

0.1

0.0

0.0

-1.3

0.0

Discontinued Operations

0.0

0.0

0.0

0.0

0.0

Profit Before Taxes

1.8

1.5

0.3

-1.0

0.3

Tax Payable / Credit

0.5

0.4

-0.1

-0.1

0.1

Extraordinary Items/Debits

0.0

0.0

0.0

0.0

0.0

Dividends

0.0

0.0

0.0

0.0

0.0

Profit After Taxes

1.3

1.2

0.4

-0.9

0.3

Minority Interests (Profit & Loss)

0.0

0.0

0.0

0.0

0.0

Audit Fees

0.1

0.0

0.0

0.0

0.0

Non Audit Fees

0.0

0.0

0.0

0.0

0.0

Number of Employees

21

8

15

16

18

Wages

1.4

0.9

1.0

1.2

1.2

Social Security Costs

0.1

0.1

0.1

0.1

0.1

Pensions

0.0

0.0

0.0

0.0

0.0

Other Pension Costs

0.0

0.0

0.0

0.0

0.0

Employees Remuneration

1.6

0.9

1.1

1.4

1.4

Directors Emoluments

0.7

0.3

0.3

0.5

0.6

Other Costs

0.0

0.0

0.0

0.0

0.1

Directors Remuneration

0.7

0.3

0.4

0.6

0.7

Highest Paid Director

0.5

0.2

0.1

0.3

0.4

 

 

 

Annual Balance Sheet

Financials in: USD (mil)

 

 

 

31-Dec-2012

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

Filed Currency

USD

USD

USD

USD

USD

Exchange Rate

1

1

1

1

1

Consolidated

No

No

No

No

No

 

 

 

 

 

 

Land & Buildings

0.0

0.0

0.0

0.0

0.0

Fixtures & Fittings

0.0

0.0

0.0

0.0

0.0

Plant & Vehicles

1.0

0.8

0.1

0.1

0.1

Total Tangible Fixed Assets

1.0

0.8

0.1

0.1

0.1

Intangible Assets

1.0

0.0

0.0

0.0

0.0

Investments

0.0

1.3

1.1

0.0

0.0

Total Fixed Assets

2.0

2.1

1.2

0.1

0.1

Stocks

20.4

17.0

15.5

16.4

16.2

Work in Progress

0.0

0.0

0.0

0.0

0.0

Total Stocks Work In Progress

20.4

17.0

15.5

16.4

16.2

Trade Debtors

9.8

6.4

4.3

7.9

8.2

Inter-Company Debtors

9.1

-

7.3

9.8

8.8

Director Loans

-

-

-

-

0.0

Other Debtors

0.4

9.8

0.3

0.2

0.1

Total Debtors

19.3

16.2

11.9

17.9

17.2

Cash and Equivalents

0.3

0.0

0.0

0.0

0.0

Other Current Assets

0.0

0.0

0.0

0.0

0.0

Total Current Assets

40.0

33.3

27.4

34.3

33.4

Total Assets

42.0

35.4

28.6

34.4

33.5

Trade Creditors

5.3

3.7

3.4

8.0

3.0

Bank Overdraft

-

1.5

1.5

4.0

7.1

Inter-Company Creditors

4.1

3.1

2.7

3.9

2.7

Director Loans (Current Liability)

0.1

-

0.0

0.0

0.0

Hire Purchase (Current Liability)

0.0

0.0

-

-

0.0

Finance Lease (Current Liability)

0.0

0.0

-

-

0.0

Total Finance Lease/Hire Purchase (Current Liability)

0.0

0.0

-

-

0.0

Total Short Term Loans

1.4

-

-

-

-

Accruals/Deferred Income (Current Liability)

0.6

0.1

0.2

0.2

0.1

Social Security/VAT

0.9

0.7

0.5

0.4

0.2

Corporation Tax

0.1

0.1

0.0

0.0

0.1

Other Current Liabilities

16.9

14.6

10.2

10.2

12.2

Total Current Liabilities

29.4

23.9

18.6

26.6

25.3

Group Loans (Long Term Liability)

3.0

3.3

2.4

2.4

1.9

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)

0.1

0.1

0.0

0.0

0.0

Total Hire Purchase Loans (Long Term Liability)

0.1

0.1

0.0

0.0

0.0

Other Long Term Loans

1.1

1.1

1.9

0.0

0.0

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

4.2

4.4

4.3

2.4

1.9

Deferred Taxation

-

-

0.0

0.0

0.0

Other Provisions

0.1

0.1

0.0

0.0

0.0

Total Provisions

0.1

0.1

0.0

0.0

0.0

Issued Capital

0.7

0.7

0.7

0.7

0.7

Share Premium Accounts

0.0

0.0

0.0

0.0

0.0

Revaluation Reserve

0.0

0.0

0.0

0.0

0.0

Retained Earnings

7.6

6.2

5.0

4.6

5.6

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

8.3

6.9

5.7

5.4

6.3

Net Worth

7.4

6.9

5.7

5.4

6.3

 

 

 

Annual Cash Flows

Financials in: USD (mil)

 

 

31-Dec-2012

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

Period Length

52 Weeks

52 Weeks

52 Weeks

52 Weeks

61 Weeks

Filed Currency

USD

USD

USD

USD

USD

Exchange Rate (Period Average)

1

1

1

1

1

Consolidated

No

No

No

No

No

 

 

 

 

 

 

Net Cash Flow From Operating Activities

3.7

-3.2

5.7

3.8

-0.3

Net Cash Flow from ROI and Servicing of Finance

-0.7

-0.5

-0.4

-0.5

-0.7

Taxation

-0.5

0.1

0.0

-0.1

-0.4

Capital Expenditures

-0.1

-0.9

-1.1

-0.1

0.0

Acquisitions and Disposals

-1.1

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

-0.3

4.6

-0.9

0.0

0.0

Increase in Cash

0.9

0.0

3.2

3.1

-1.4

 

 

 

Annual Ratios

Financials in: USD (mil)

 

 

 

31-Dec-2012

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

Period Length

52 Weeks

52 Weeks

52 Weeks

52 Weeks

61 Weeks

Filed Currency

USD

USD

USD

USD

USD

Exchange Rate

1

1

1

1

1

Consolidated

No

No

No

No

No

 

 

 

 

 

 

Current Ratio

1.36

1.39

1.48

1.29

1.32

Liquidity Ratio

0.67

0.68

0.64

0.67

0.68

Stock Turnover

3.87

4.18

3.80

2.60

2.21

Credit Period (Days)

45.33

32.90

26.63

67.32

84.12

Working Capital by Sales

13.42%

13.12%

15.01%

17.95%

22.70%

Trade Credit by Debtors

0.54

0.59

0.80

1.02

0.36

Return on Capital

14.16%

13.45%

2.67%

-13.46%

3.17%

Return on Assets

4.25%

4.34%

0.93%

-3.04%

0.77%

Profit Margin

2.25%

2.16%

0.45%

-2.44%

0.73%

Return on Shareholders Funds

21.43%

22.22%

4.65%

-19.45%

4.11%

Borrowing Ratio

133.40%

131.48%

147.88%

190.12%

184.74%

Equity Gearing

19.82%

19.54%

20.09%

15.61%

18.83%

Debt Gearing

57.19%

64.41%

74.08%

44.48%

29.94%

Interest Coverage

2.27

2.40

0.49

-1.69

0.34

Sales by Tangible Assets

81.72

84.71

707.73

473.43

506.86

Average Remuneration per Employee

0.1

0.1

0.1

0.1

0.1

Profit per Employee

0.1

0.2

0.0

-0.1

0.0

Sales per Employee

3.8

8.9

3.9

2.7

2.0

Capital Employed per Employee

0.6

1.4

0.7

0.5

0.5

Tangible Assets per Employee

0.0

0.1

0.0

0.0

0.0

Total Assets per Employee

2.0

4.4

1.9

2.2

1.9

Employee Remuneration by Sales

1.97%

1.32%

1.88%

3.23%

3.40%

Creditor Days (Cost of Sales Based)

26.24

20.47

22.61

75.09

33.79

Creditor Days (Sales Based)

24.33

19.27

21.39

68.55

30.19

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.52

UK Pound

1

Rs.100.26

Euro

1

Rs.84.67

 

 

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.