MIRA
INFORM REPORT
|
Report Date : |
11.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
D. NAVINCHANDRA GEMS BVBA |
|
|
|
|
Registered Office : |
Hoveniersstraat 2, 2018 Antwerpen |
|
|
|
|
Country : |
Belgium |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
02.02.1998 |
|
|
|
|
Com. Reg. No.: |
462600126 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Wholesaler of diamonds and
other precious stones |
|
|
|
|
No. of Employees |
01 (31.12.2012) |
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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
Belgium |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
belgium ECONOMIC OVERVIEW
This modern,
open, and private-enterprise-based economy has capitalized on its central
geographic location, highly developed transport network, and diversified
industrial and commercial base. Industry is concentrated mainly in the more
heavily-populated region of Flanders in the north. With few natural resources,
Belgium imports substantial quantities of raw materials and exports a large
volume of manufactures, making its economy vulnerable to volatility in world
markets. Roughly three-quarters of Belgium's trade is with other EU countries,
and Belgium has benefited most from its proximity to Germany. In 2011 Belgian
GDP grew by 1.8%, the unemployment rate decreased slightly to 7.2% from 8.3%
the previous year, and the government reduced the budget deficit from a peak of
6% of GDP in 2009 to 4.2% in 2011 and 3.3% in 2012. Fourth quarter GDP growth
in 2012 was at -0.1%, the third consecutive quarter of negative growth. This
brought economic growth for the whole of 2012 to negative 0.2%. It also left
Belgium on the brink of a possible recession at the end of 2012. However, at
year's end, the government appeared close to meeting its 2012 budget deficit
goal of 3% of GDP. Despite the relative improvement in Belgium's budget
deficit, public debt hovers around 100% of GDP, a factor that has contributed
to investor perceptions that the country is increasingly vulnerable to
spillover from the euro-zone crisis. Belgian banks were severely affected by
the international financial crisis in 2008 with three major banks receiving
capital injections from the government, and the nationalization of the Belgian
retail arm of a Franco-Belgian bank.
|
Source : CIA |
Company summary
Business number 462600126
Company name D. NAVINCHANDRA
GEMS BVBA
Address HOVENIERSSTRAAT 2
2018 ANTWERPEN
Number of staff 01
Date of establishment 02/02/1998
Telephone number 032332427
Fax number 032251132
Commentary
|
The
business was established over 16 years ago. |
|
|
The
business has 1 employees. |
|
|
The
business has been at the address for over 4 years. |
|
|
Operating
Result in the latest trading period decreased 36% on the previous trading
period. |
|
|
Pre-tax
profits decreased by 27% compared to the previous trading period. |
|
|
The
business saw a decrease in their Cash Balance of 99% during the latest trading
period. |
|
Accounts
|
DATE OF LATEST ACCOUNTS |
TURNOVER |
PROFIT BEFORE TAX |
NET WORTH |
WORKING CAPITAL |
|
31/12/2012 |
39,282,329 |
62,991 |
1,709,580 |
4,571,912 |
|
31/12/2011 |
43,235,521 |
87,152 |
1,646,589 |
4,552,150 |
|
31/12/2010
|
33,386,214
|
61,505
|
1,559,437
|
2,070,845 |
Accounts
|
DATE OF LATEST ACCOUNTS |
BALANCE TOTAL |
NUMBER OF EMPLOYEES |
CAPITAL |
CASHFLOW |
|
31/12/2012 |
12,241,308 |
1 |
1,615,178 |
82,637 |
|
31/12/2011 |
12,946,206 |
0 |
1,615,178 |
101,861 |
|
31/12/2010 |
9,754,436 |
0 |
1,615,178 |
64,471 |
Trends
|
Profitability |
|
|
Liquidity |
|
|
Net worth |
|
Payment
expectations
|
Past payments |
-- |
Payment expectation days |
36 |
|
Industry average payment expectation days |
168.35 |
Industry average day sales outstanding |
120.21 |
|
Day sales outstanding |
68.68 |
||
Court
data summary
|
BANKRUPTCY DETAILS |
|
|
Court action type |
no |
Company information
|
Business number |
462600126 |
Company
name |
D. NAVINCHANDRA GEMS BVBA |
|
Fax number |
032251132 |
Date
founded |
02/02/1998 |
|
Company status |
active |
Company
type |
Private Limited Company (BL/LX) |
|
Currency |
Euro
(€) |
Date
of latest accounts |
31/12/2012 |
|
Activity code |
46761 |
liable
for VAT |
yes |
|
Activity description |
Wholesale
of diamonds and other precious stones |
VAT
Number |
BE.0462.600.126 |
|
Belgian Bullettin of
Acts Publications |
Moniteur Belge (Belgian Monitor) |
|
|
Social Balance Sheet details
|
Social Balance Sheet |
Total |
|
During the reporting year ended 31-12-2012 |
|
|
Full-time Employees |
- |
|
Part-time Employees |
1 |
|
Total Fte Employees |
1 |
|
|
|
|
Number of hours worked |
|
|
Full-time Employees |
- |
|
Part-time Employees |
1,180 |
|
Total |
1,180 |
|
Personnel Charges |
|
|
Full-time Employees |
- |
|
Part-time Employees |
26,995 |
|
Total |
26,995 |
|
Benefits In Addition To Wages |
- |
|
|
|
|
During the previous reporting year |
|
|
Average number employees in Fte |
1 |
|
Actual working hours |
1,108 |
|
Personnel Charges |
24,700 |
|
Benefits In Addition To Wages |
- |
|
Type of Contract |
Full-Time |
Part-Time |
Total Fte |
|
Unlimited Duration Contracts |
- |
1 |
1 |
|
Limited Duration Contracts |
- |
- |
- |
|
Contracts For Specific Work |
- |
- |
- |
|
Contracts Regarding Substitution |
- |
- |
- |
|
Gender and Education Level |
|
||
|
Men |
Full-Time |
Part-Time |
Total Fte |
|
Primary education |
- |
- |
- |
|
Secondary education |
- |
- |
- |
|
Higher education (non university) |
- |
- |
- |
|
Higher education (university) |
- |
- |
- |
|
Women |
Full-Time |
Part-Time |
Total Fte |
|
Primary education |
- |
1 |
1 |
|
Secondary education |
- |
- |
- |
|
Higher education (non university) |
- |
- |
- |
|
Higher education (university) |
- |
- |
- |
|
|
|||
|
Working Category |
Full-Time |
Part-Time |
Total Fte |
|
Management |
- |
- |
- |
|
White collar worker |
- |
- |
- |
|
Blue collar worker |
- |
1 |
1 |
|
Other |
- |
- |
- |
Personnel
(NSSO
classification)
|
Code |
- |
|
Description |
01
EMPLOYEES |
Joint
Industrial Committee
(JIC)
|
JIC Code |
218 |
|
Description |
Additional
national joint committee for the employees |
|
|
|
|
JIC Code |
324.02 |
|
Description |
JSC
small merchandisers in the diamant industry and
trade |
Significant
Events
|
Event Date |
24/02/2011 |
|
Event Details |
Aanpassing
& Cobrdinatie statuten.
(Adaptation & Cobrdinatie statutes.) |
Company accounts
Comparison
Mode
· average median Export accounts to CSV file
Profit & loss
|
Annual
accounts |
31-12-2012 |
% |
31-12-2011 |
% |
31-12-2010 |
Industry
average 2012 |
% |
|
Weeks |
52 |
|
52 |
|
52 |
|
|
|
Currency |
EUR |
|
EUR |
|
EUR |
|
|
|
Turnover |
39,282,329 |
-9.14 |
43,235,521 |
29.50 |
33,386,214 |
46,788,819 |
-16.04 |
|
Total
operating expenses |
39,094,515 |
-8.96 |
42,940,009 |
29.62 |
33,126,911 |
46,394,806 |
-15.74 |
|
Operating
result |
187,814 |
-36.44 |
295,512 |
13.96 |
259,303 |
148,098 |
26.82 |
|
Total
financial income |
27,789 |
15191 |
182 |
67207 |
0 |
98,058 |
-71.66 |
|
Total
financial expenses |
152,612 |
-26.82 |
208,542 |
5.43 |
197,799 |
204,982 |
-25.55 |
|
Results
on ordinary operations before taxation |
62,991 |
-27.72 |
87,152 |
41.70 |
61,505 |
32,874 |
91.61 |
|
Taxation |
- |
- |
- |
- |
- |
20,907 |
- |
|
Results
on ordinary operations after taxation |
62,991 |
-27.72 |
87,152 |
41.70 |
61,505 |
17,996 |
250 |
|
Extraordinary
items |
0 |
- |
0 |
- |
0 |
-4,526 |
0 |
|
Other
appropriations |
0.00 |
- |
0.00 |
- |
0.00 |
- |
- |
|
Net
result |
62,991 |
-27.72 |
87,152 |
41.70 |
61,505 |
13,489 |
366 |
|
OTHER INFORMATION |
|||||||
|
Dividends |
- |
- |
- |
- |
- |
172,177 |
- |
|
Director
remuneration |
55,800 |
50.0 |
37,200 |
- |
- |
114,302 |
-51.18 |
|
Employee
costs |
26,995 |
9.30 |
24,700 |
19.19 |
20,722 |
126,363 |
-78.64 |
|
Wages and salary |
20,201 |
9.75 |
18,406 |
15.15 |
15,985 |
105,854 |
-80.92 |
|
Employee pension costs |
- |
- |
- |
- |
- |
14,428 |
- |
|
Social security contributions |
4,251 |
9.31 |
3,889 |
27.75 |
3,044 |
26,598 |
-84.02 |
|
Other employee costs |
2,544 |
5.81 |
2,404 |
41.98 |
1,693 |
4,380 |
-41.92 |
|
Amortization
and depreciation |
19,646 |
33.57 |
14,709 |
395 |
2,966 |
17,934 |
9.55 |
balance sheet
|
Annual
accounts |
31-12-2012 |
% |
31-12-2011 |
% |
31-12-2010 |
Industry
average 2012 |
% |
|
Weeks |
52 |
|
52 |
|
52 |
|
|
|
Currency |
EUR |
|
EUR |
|
EUR |
|
|
|
Intangible
fixed assets |
0 |
- |
0 |
- |
0 |
1,561 |
-100 |
|
Tangible
fixed assets |
432,070 |
-3.78 |
449,053 |
340 |
101,988 |
185,388 |
133 |
|
Land & building |
346,979 |
-2.04 |
354,201 |
- |
- |
362,952 |
-4.40 |
|
Plant & machinery |
80,566 |
10.66 |
90,178 |
-8.80 |
98,878 |
22,760 |
253 |
|
Furniture & Vehicles |
4,525 |
-3.19 |
4,674 |
50.29 |
3,110 |
17,415
5,433 |
74.02 |
|
Leasing & Other Similar
Rights |
- |
- |
- |
- |
- |
142,153
32,369 |
- |
|
Other tangible assets |
0 |
- |
0 |
- |
0 |
7,664 |
-100 |
|
Financial
fixed assets |
800 |
0 |
800 |
0 |
800 |
309,151 |
-99 |
|
Total
fixed assets |
432,870 |
-3.78 |
449,853 |
337 |
102,788 |
398,254 |
8.69 |
|
Inventories |
4,398,563 |
113 |
2,060,717 |
59.89 |
1,288,825 |
3,108,260 |
41.51 |
|
Raw materials &
consumables |
- |
- |
- |
- |
- |
7,209,884 |
- |
|
Work in progress |
0 |
- |
0 |
- |
0 |
2,411 |
-100 |
|
Finished goods |
4,398,563 |
113 |
2,060,717 |
59.89 |
1,288,825 |
1,992,265 |
120 |
|
Other stocks |
0 |
- |
0 |
- |
0 |
574,368 |
-100 |
|
Trade
debtors |
7,391,838 |
26.13 |
10,006,997 |
22.38 |
8,176,713 |
4,189,589 |
76.43 |
|
Cash |
3,440 |
-99 |
406,290 |
143 |
166,771 |
226,840 |
98.48 |
|
other
amounts receivable |
6,296 |
31.83 |
9,235 |
39.57 |
6,617 |
186,814 |
96.63 |
|
Miscellaneous
current assets |
8,301 |
36.70 |
13,114 |
3.08 |
12,722 |
18,076 |
54.08 |
|
Total
current assets |
11,808,438 |
-5.50 |
12,496,353 |
29.47 |
9,651,648 |
7,252,094 |
62.83 |
|
Total
Assets |
12,241,308 |
-5.44 |
12,946,206 |
32.72 |
9,754,436 |
7,617,297
1,454,678 |
60.70 |
|
CURRENT LIABILITIES |
|||||||
|
Trade
creditors |
3,855,780 |
-8.40 |
4,209,459 |
285 |
1,092,094 |
3,057,888 |
26.09 |
|
Short
term group loans |
- |
- |
- |
- |
- |
- |
- |
|
Financial
debts |
2,140,002 |
12.69 |
2,451,033 |
52.29 |
5,137,147 |
4,287,536
192,320 |
50.09 |
|
Current
portion of long term debt |
- |
- |
- |
- |
- |
107,941
15,359 |
- |
|
Amounts
Payable for Taxes, Remuneration & Social Security |
12,729 |
27.90 |
9,953 |
4.91 |
9,487 |
9,445
- |
62.57 |
|
Miscellaneous
current liabilities |
1,228,014 |
-3.59 |
1,273,759 |
-5.09 |
1,342,075 |
310 |
-
- |
|
Total
current liabilities |
7,236,526 |
-8.91 |
7,944,203 |
4.79 |
7,580,803 |
5,370,007 |
34.76 |
|
LONG TERM DEBTS AND LIABILITIES |
|||||||
|
Long
term group loans |
- |
- |
- |
- |
- |
- |
-
- |
|
Other
long term loans |
3,055,202 |
-1.93 |
3,115,413 |
1198 |
240,000 |
177 |
-
- |
|
Deffered taxes |
- |
- |
- |
- |
- |
37,626
26,358 |
- |
|
Provisions
for Liabilities & Charges |
0 |
- |
0 |
- |
0 |
3,200
0 |
-100 |
|
Other
long term liabilities |
240,000 |
0 |
240,000 |
35.86 |
374,195 |
129,533 |
85.28 |
|
Total
long term debts |
3,295,202 |
-1.79 |
3,355,413 |
446 |
614,195 |
562,172 |
486 |
|
SHAREHOLDERS EQUITY |
|||||||
|
Issued
share capital |
1,615,178 |
0 |
1,615,178 |
0.00 |
1,615,178 |
948,360 |
70.31 |
|
|
|
|
|
|
|
|
|
|
Share
premium account |
-- |
--- |
--- |
--- |
-- |
109,362 |
--- |
|
Reserves |
94,402 |
200 |
31,411 |
56.35 |
-55,741 |
693,149 |
86.38 |
|
Revaluation
reserve |
- |
- |
- |
- |
- |
939,206 |
- |
|
Total
shareholders equity |
1,709,580 |
3.83 |
1,646,589 |
5.59 |
1,559,437 |
1,671,347 |
2.29 |
|
Working
capital |
4,571,912 |
0.43 |
4,552,150 |
119 |
2,070,845 |
1,882,087 |
142 |
|
Cashflow |
82,637 |
18.87 |
101,861 |
57.99 |
64,471 |
28,291 |
192 |
|
Net
worth |
1,709,580 |
3.83 |
1,646,589 |
5.59 |
1,559,437 |
1,668,090 |
2.49 |
ratio analysis
|
Annual
accounts |
31-12-2012 |
change(%) |
31-12-2011 |
change(%) |
31-12-2010 |
Industry
average 2012 |
% |
|
TRADING PERFORMANCE |
|
|
|
|
|
|
|
|
Profit
Before Tax |
0.16 |
-20.0 |
0.20 |
11.11 |
0.18 |
-26,00 |
0.62 |
|
Return
on capital employed |
1.26 |
-27.59 |
1.74 |
-38.52 |
2.83 |
29,00 |
-95.66 |
|
Return
on total assets employed |
0.51 |
-23.88 |
0.67 |
6.35 |
0.63 |
-202,00 |
0.25 |
|
Return
on net assets employed |
3.68 |
-30.43 |
5.29 |
34.26 |
3.94 |
19,00 |
-80.63 |
|
Sales
/ net working capital |
8.59 |
-9.58 |
9.50 |
-41.07 |
16.12 |
45,00 |
-99 |
|
Stock
turnover ratio |
11.20 |
134 |
4.77 |
23.58 |
3.86 |
111,00 |
-89.91 |
|
Debtor
days |
68.68 |
-18.70 |
84.48 |
-5.49 |
89.39 |
133,00 |
-48.36 |
|
Creditor
days |
36 |
0.61 |
35.78 |
197 |
12.03 |
122,00 |
-70.49 |
|
SHORT TERM STABILITY |
|||||||
|
Current
ratio |
1.63 |
3.82 |
1.57 |
23.62 |
1.27 |
7,00 |
-81.89 |
|
Liquidity
ratio / acid ratio |
1.02 |
-22.14 |
1.31 |
19.09 |
1.10 |
4,00 |
-74.50 |
|
Current
debt ratio |
4.23 |
-12.24 |
4.82 |
-0.82 |
4.86 |
9,00 |
-53.00 |
|
Liquidity
ratio reprocessed |
- |
- |
- |
- |
- |
- |
- |
|
LONG TERM STABILITY |
|||||||
|
Gearing |
303.89 |
-10.11 |
338.06 |
-1.96 |
344.81 |
361,00 |
-15.82 |
|
Equity
in percentage |
13.97 |
9.83 |
12.72 |
-20.45 |
15.99 |
-3.228,00 |
0.43 |
|
Total
debt ratio |
6.16 |
-10.20 |
6.86 |
30.42 |
5.26 |
10,00 |
-38.40 |
Industry
comparison
|
Activity code |
46761 |
|
Activity description |
Wholesale
of diamonds and other precious stones |
Payment Information
|
Suspension of payments / moratorium history |
|
|
Amount |
- |
|
Details |
- |
|
Payment expectations |
|
|
Payment expectation days |
36 |
|
Day sales outstanding |
68.68 |
|
Industry comparison |
|
|
Activity code |
46761 |
|
Activity description |
Wholesale
of diamonds and other precious stones |
|
Industry average payment expectation days |
168.35 |
|
Industry average day sales outstanding |
120.21 |
Industry
quartile analysis
|
Payment expectations |
|
|
Company result |
36 |
|
Lower |
134.36 |
|
Median |
84.62 |
|
Upper |
45.29 |
|
|
|
|
Day sales outstanding |
|
|
Company result |
68.68 |
|
Lower |
112.48 |
|
Median |
58.56 |
|
Upper |
28.58 |
Group
Structure
|
No
group structure for this company. |
Minority
Shareholders
Company name
D.
N. GEMS PTE. LTD.
Minority Shareholders
Company name
D.
N. GEMS PTE. LTD.
Individual
Shareholders
|
SHAREHOLDER NAME |
|||
|
Forename |
Mihir |
Middle name |
- |
|
Surname |
Mehta |
|
|
SHAREHOLDER
DETAILS
|
Start date |
16/07/2010(estimated) |
End date |
- |
|
Percentage owned |
- |
|
|
SHAREHOLDER
ADDRESS
|
Street name |
90
Nepean Sea Road |
House number |
- |
|
Minor town |
- |
Postal town |
BOMBAY |
|
Post code |
6 |
Country |
India |
Court data
|
NSSO details |
|
|
Business number |
462600126 |
Bankruptcy
details
There is no bankruptcy data against this company
Bankruptcy
Data
|
Court Data |
|
|
there
is no data for this company |
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Director
details
|
Current Director Details |
|
|
|
|
|
Name |
RUSHIN
HARESH CHOKSI |
|
Position |
Principal
Manager |
|
Start Date |
01/09/2011 |
|
Street |
102
BELGIELEI ANTWERPEN |
|
Post code |
2018 |
|
Country |
Belgium |
|
|
|
|
Name |
MANOJ
KUMAR RASIKLAL MEHTA |
|
Position |
Principal
Manager |
|
Start Date |
15/04/2009 |
|
Street |
70
JACHTLAAN EDEGEM |
|
Post code |
2650 |
|
Country |
Belgium |
|
|
|
|
Name |
MIHIR
DILIPKUMAR MEHTA |
|
Position |
Principal
Manager |
|
Start Date |
28/05/2010 |
|
Country |
India |
DIAMOND INDUSTRY – INDIA
-
From time immemorial, India is well known in the world as the birthplace
for diamonds. It is difficult to trace the origin of diamonds but history
says that in the remote past, diamonds were mined only in India. Diamond
production in India can be traced back to almost 8th Century B.C.
India, in fact, remained undisputed leader till 18th Century
when Brazilian fields were discovered in 1725 followed by emergence of S.
Africa, Russia and Australia.
-
The achievement of the Indian diamond industry was possible only due to
combination of the manufacturing skills of the Indian workforce and the
untiring and unflagging efforts of the Indian diamantaires,
supported by progressive Government policies.
-
The area of study of family owned diamond businesses derives its
importance from the huge conglomerate of family run organizations which operate
in the diamond industry since many generations.
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Some of the basic traits of family run business enterprises include
spirit of entrepreneurship, mutual trust lowers transaction costs, small,
nimble and quick to react, information as a source of advantage and
philanthropy.
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Family owned diamond businesses need to improve on many fronts including
higher standard of corporate governance, long-term performance – focused strategies,
modern management and technology.
-
Utmost caution is to be exercised while dealing with some medium and
large diamond traders which are usually engaged in fictitious import – export,
inter-company transactions, financially assisted by banks. In the process,
several public sector banks lost several hundred million rupees. They mostly
diverted borrowed money for diamond business into real estate and capital
markets.
-
Excerpts from Times of India dated 30th October 2010 is as
under –
-
Gem & Jewellery Export Promotion Council
in its statistical data has shown the export of polished diamonds to have
increase by 28 % in February 2013. Compared to $ 1.4 bn
worth of polished diamond export in February, 2012, India exported $ 1.84
billion worth of polished diamonds in February 2013. A senior executive of
GJEPC said, “Export of cut and polished diamonds started falling month-wise
after the imposition of 2 % of import duty on the polished diamonds. But
February, 2013 has given a new ray of hope to the industry as the export of
polished diamonds has actually increased by 28 %. It means the industry
is on the track of recovery and round tripping of diamonds has stopped
completely.” Demand has started coming from the US, the UK, Japan and China.
India’s polished diamond export is expected to cross $ 21 bn
in 2013-14.
-
The banking sector has started exercising restraint while following
prudent risk management norms when lending money to gems and jewellery sector. This follows the implementation of Basel
III accord – a global voluntary regulatory standard on bank capital adequacy,
stress testing and market liquidity.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.21 |
|
UK Pound |
1 |
Rs.101.05 |
|
Euro |
1 |
Rs.83.33 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect.
Satisfactory capability for payment of interest and principal sums |
Fairly Large |
|
|
41-55 |
Ba |
Overall operation
is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
|
-- |
NB |
New Business |
-- |
|
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.