|
Report Date : |
17.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
JEWEL ROUGH NV |
|
|
|
|
Registered Office : |
Schupstraat 9, 2018 Antwerpen |
|
|
|
|
Country : |
Belgium |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
25.10.1990 |
|
|
|
|
Com. Reg. No.: |
441688015 |
|
|
|
|
Legal Form : |
Public
Limited Liability Company (BE) |
|
|
|
|
Line of Business : |
Wholesale
of diamonds and other precious stones |
|
|
|
|
No. of Employees : |
1 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
Slow but correct |
|
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, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Belgium |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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 2013 Belgian GDP grew by 0.1%, the
unemployment rate increased to 8.8% from 7.6% the previous year, and the
government reduced the budget deficit from a peak of 6% of GDP in 2009 to 3.2%.
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 |
Business number 441688015
Company name JEWEL
ROUGH NV
Address SCHUPSTRAAT 9
2018 ANTWERPEN
Number of staff 1
Date of establishment 25/10/1990
Telephone number 032252181
Fax number 032252189
The business was established over 23 years ago.
The business has 1 employees.
The business has been at the address for over 5 years.
Operating Result in the latest trading period increased 132% on the
previous trading period.
Pre-tax profits increased by 53% compared to the previous trading
period.
The business saw an increase in their Cash Balance of 706% during the
latest trading period.
Working Capital is a negative amount during the latest trading period.
Accounts
|
DATE
OF LATEST ACCOUNTS |
TURNOVER |
PROFIT
BEFORE TAX |
NET
WORTH |
WORKING
CAPITAL |
|
31/12/2012 |
|
31,717 |
840,844 |
-1,458,999 |
|
31/12/2011 |
|
20,700 |
820,382 |
-1,505,096 |
|
31/12/2010 |
|
14,007 |
807,425 |
-1,609,971 |
Accounts
|
DATE
OF LATEST ACCOUNTS |
BALANCE
TOTAL |
NUMBER
OF EMPLOYEES |
CAPITAL |
CASHFLOW |
|
31/12/2012 |
5,058,404 |
1 |
62,000 |
21,027 |
|
31/12/2011 |
5,556,865 |
1 |
62,000 |
13,319 |
|
31/12/2010 |
5,187,121 |
1 |
62,000 |
8,822 |
|
Payment
expectations |
|
|
|
|
Past
payments |
|
Payment
expectation days |
- |
|
Industry
average payment |
164.01 |
Industry
average day sales |
119.76 |
|
expectation
days |
|
outstanding |
|
|
Day
sales outstanding |
- |
||
|
Court
data summary |
|||
|
BANKRUPTCY
DETAILS |
|||
|
Court
action type |
no |
||
|
PROTESTED
BILLS |
|||
|
Bill
amount |
- |
||
|
NSSO
DETAILS |
|||
|
Date
of summons |
10/03/2014 |
||
|
Business
number |
441688015 |
Company
name |
JEWEL
ROUGH NV |
|
Fax
number |
032252189 |
Date
founded |
25/10/1990 |
|
Company
status |
active |
Company
type |
Public
Limited Liability Company (BE) |
|
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.0441.688.015 |
|
Belgian
Bullettin of Acts Publications |
moniteur
belge |
|
|
|
Social
Balance Sheet |
Total |
|
During
the reporting year ended 31-12-2012 |
|
|
Full-time
Employees |
1 |
|
Part-time
Employees |
- |
|
Total
Fte Employees |
1 |
|
|
|
|
Number
of hours worked |
|
|
Full-time
Employees |
1,786 |
|
Part-time
Employees |
- |
|
Total |
1,786 |
|
|
|
|
Personnel
Charges |
|
|
Full-time
Employees |
36,837 |
|
Part-time
Employees |
- |
|
Total |
36,837 |
|
Benefits
In Addition To Wages |
- |
|
|
|
|
During
the previous reporting year |
|
|
Average
number employees in Fte |
1 |
|
Actual
working hours |
1,771 |
|
Personnel
Charges |
43,871 |
|
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 |
- |
- |
- |
|
Secondairy
education |
1 |
- |
1 |
|
Higher
education (non university) |
- |
- |
- |
|
Higher
education (university) |
- |
- |
- |
|
Women |
Full-Time |
Part-Time |
Total
Fte |
|
Primary
education |
- |
- |
- |
|
Secondairy
education |
- |
- |
- |
|
Higher
education (non university) |
- |
- |
- |
|
Higher
education (university) |
- |
- |
- |
|
|
|||
|
Working
Category |
Full-Time |
Part-Time |
Total
Fte |
|
Management |
- |
- |
- |
|
White
collar worker |
1 |
- |
1 |
|
Blue
collar worker |
- |
- |
- |
|
Other |
- |
- |
- |
|
|
|||
|
Temporary
personnel |
Total |
||
|
Average
number of temporary staff |
- |
||
|
Actual
working hours |
- |
||
|
Cost
of temporary staff |
- |
||
|
|
|||
|
New
staff and leavers |
Full-Time |
Part-Time |
Total
Fte |
|
New
Starters |
- |
- |
- |
|
Leavers |
- |
- |
- |
Personnel
(NSSO classification)
|
Code |
- |
|
Description |
FROM
1 TO 4 EMPLOYEES |
|
Joint
Industrial Committee (JIC) |
|
|
JIC
Code |
218 |
|
Description |
Additional
national joint committee for the employees |
|
category |
|
|
|
|
|
JIC
Code |
324.02 |
|
Description |
JSC
small merchandisers in the diamant industry and trade |
|
category Significant
Events |
|
|
Event
Date |
15/12/2011 |
|
Event
Description |
|
|
Event
Details |
De
100 aandelen aan toonder worden omgezet in aandelen op naam. De aandelen een
toonder worden vernietigd. |
|
Annual accounts |
31-122012 |
% |
31-122011 |
% |
31-122010 |
Industry
average 2012 |
% |
|
Weeks |
52 |
|
52 |
|
52 |
|
|
|
Currency |
EUR |
|
EUR |
|
EUR |
|
|
|
Turnover |
- |
- |
- |
- |
- |
46,537,630 |
- |
|
Total
operating expenses |
- |
- |
- |
- |
- |
46,145,645 |
- |
|
Operating
result |
47,869 |
132 |
20,598 |
40.06 |
14,707 |
147,590 |
67.57 |
|
Total
financial income |
7,813 |
75.83 |
4,443 |
224318 |
2 |
97,743 |
92.01 |
|
Total
financial expenses |
23,965 |
451 |
4,342 |
518 |
703 |
204,361 |
88.27 |
|
Results
on ordinary operations before taxation |
31,717 |
53.23 |
20,700 |
47.78 |
14,007 |
32,848 |
-3.44 |
|
Taxation |
11,255 |
45.36 |
7,743 |
47.06 |
5,265 |
20,918 |
46.20 |
|
Results
on ordinary operations after taxation |
20,463 |
57.93 |
12,957 |
48.22 |
8,742 |
18,016 |
13.58 |
|
Extraordinary
items |
0 |
- |
0 |
- |
0 |
-4,395 |
0 |
|
Other
appropriations |
0.00 |
- |
0.00 |
- |
0.00 |
- |
- |
|
Net
result |
20,463 |
57.93 |
12,957 |
48.22 |
8,742 |
13,640 |
50.02 |
|
OTHER
INFORMATION |
|
|
|
|
|
|
|
|
Dividends |
- |
- |
- |
- |
- |
172,177 |
- |
|
Director
remuneration |
- |
- |
- |
- |
- |
114,302 |
- |
|
Employee
costs |
36,837 |
16.03 |
43,871 |
-6.35 |
46,844 |
125,948 |
70.75 |
|
Wages and salary |
29,119 |
16.02 |
34,672 |
-7.76 |
37,587 |
105,678 |
72.45 |
|
Employee pension costs |
- |
- |
- |
- |
- |
14,428 |
- |
|
Social security contributions |
7,112 |
17.60 |
8,631 |
-2.54 |
8,856 |
26,585 |
73.25 |
|
Other employee costs |
606 |
6.79 |
567 |
41.67 |
400 |
4,360 |
86.11 |
|
Amortization
and depreciation |
565 |
56.17 |
362 |
352 |
80 |
17,895 |
96.84 |
|
Annual accounts |
31-122012 |
% |
31-122011 |
% |
31-122010 |
Industry
average 2012 |
% |
|
Weeks |
52 |
|
52 |
|
52 |
|
|
|
Currency |
EUR |
|
EUR |
|
EUR |
|
|
|
Intangible
fixed assets |
0 |
- |
0 |
- |
0 |
1,553 |
-100 |
|
Tangible
fixed assets |
900 |
38.56 |
1,465 |
14649400 |
0 |
185,189 |
-99 |
|
Land & building |
- |
- |
- |
- |
- |
362,988 |
- |
|
Plant & machinery |
- |
- |
- |
- |
- |
22,664 |
- |
|
Furniture & Vehicles |
900 |
38.56 |
1,465 |
14649400 |
0 |
17,327 5,364 |
94.81 |
|
Leasing & Other Similar Rights |
- |
- |
- |
- |
- |
142,153 32,369 |
- |
|
Other tangible assets |
0 |
- |
0 |
- |
0 |
7,634 |
-100 |
|
Financial
fixed assets |
2,791,591 |
0 |
2,791,591 |
0 |
2,791,591 |
307,703 |
807 |
|
Total
fixed assets |
2,792,491 |
-0.02 |
2,793,056 |
0.05 |
2,791,591 |
396,856 |
603 |
|
Inventories |
1,042,736 |
128 |
456,907 |
-33.84 |
690,591 |
3,093,934 |
66.30 |
|
Raw materials & consumables |
- |
- |
- |
- |
- |
7,209,884 |
- |
|
Work in progress |
0 |
- |
0 |
- |
0 |
2,399 |
-100 |
|
Finished goods |
0 |
- |
0 |
- |
0 |
1,982,203 |
-100 |
|
Other stocks |
1,042,736 |
128 |
456,907 |
-33.84 |
690,591 |
571,885 |
82.33 |
|
Trade
debtors |
1,061,120 |
51.97 |
2,209,309 |
38.42 |
1,596,099 |
4,167,122 |
74.54 |
|
Cash |
52,067 |
706 |
6,459 |
-53.89 |
14,008 |
226,208 |
76.98 |
|
other
amounts receivable |
109,605 |
20.74 |
90,775 |
-3.94 |
94,495 |
185,906 |
41.04 |
|
Miscellaneous
current assets |
384 |
6.84 |
359 |
6.63 |
337 |
18,028 |
97.87 |
|
Total
current assets |
2,265,912 |
18.01 |
2,763,809 |
15.37 |
2,395,529 |
7,215,183 |
68.60 |
|
Total
Assets |
5,058,404 |
-8.97 |
5,556,865 |
7.13 |
5,187,121 |
7,579,247 1,446,080 |
33.26 |
|
CURRENT
LIABILITIES |
|||||||
|
Trade
creditors |
2,322,642 |
24.99 |
3,096,334 |
10.37 |
2,805,506 |
3,040,360 |
23.61 |
|
Short
term group loans |
- |
- |
- |
- |
- |
- |
- |
|
Financial
debts |
- |
- |
- |
- |
- |
4,261,350 189,666 |
- |
|
Current
portion of long term debt |
- |
- |
- |
- |
- |
110,204 15,373 |
- |
|
Amounts Payable for
Taxes, Remuneration & Social Security |
39,764 |
-7.80 |
43,126 |
53.61 |
28,075 |
9,709 - |
17.10 |
|
Miscellaneous
current liabilities |
1,362,504 |
20.63 |
1,129,444 |
-3.62 |
1,171,919 |
358 |
- - |
|
Total
current liabilities |
3,724,911 |
12.74 |
4,268,905 |
6.58 |
4,005,500 |
5,342,128 |
30.27 |
|
LONG
TERM DEBTS AND LIABILITIES |
|||||||
|
Long
term group loans |
- |
- |
- |
- |
- |
- |
- - |
|
Other
long term loans |
- |
- |
- |
- |
- |
- |
- - |
|
Deffered
taxes |
- |
- |
- |
- |
- |
37,626 26,358 |
- |
|
Provisions
for Liabilities & Charges |
0 |
- |
0 |
- |
0 |
3,184 0 |
-100 |
|
Other
long term liabilities |
492,648 |
5.36 |
467,579 |
24.96 |
374,195 |
128,672 |
282 |
|
Total
long term debts |
492,648 |
5.36 |
467,579 |
24.96 |
374,195 |
559,214 |
11.90 |
|
SHAREHOLDERS
EQUITY |
|||||||
|
Issued
share capital |
62,000 |
0 |
62,000 |
0 |
62,000 |
943,974 |
- |
|
|
|
|
|
|
|
|
93.43 |
|
Share premium
account |
- |
- |
- |
- |
- |
109,362 |
- |
|
Reserves |
778,844 |
2.70 |
758,382 |
1.74 |
745,425 |
690,619 |
12.77 |
|
Revaluation reserve |
- |
- |
- |
- |
- |
939,206 |
- |
|
Total shareholders
equity |
840,844 |
2.49 |
820,382 |
1.60 |
807,425 |
1,664,274 |
49.48 |
|
Working capital |
-1,458,999 |
96.94 |
-1,505,096 |
93.49 |
-1,609,971 |
1,873,055 |
-177 |
|
Cashflow |
21,027 |
57.88 |
13,319 |
50.97 |
8,822 |
28,425 |
26.02 |
|
Net worth |
840,844 |
2.49 |
820,382 |
1.60 |
807,425 |
1,661,040 |
49.38 |
|
Annual accounts |
31-12-2012 |
Change (%) |
31-12-2011 |
Change (%) |
31-12-2010 |
Industry
average 2012 |
% |
|
TRADING
PERFORMANCE |
|
|
|
|
|
|
|
|
Profit Before Tax |
- |
- |
- |
- |
- |
-25,00 |
- |
|
Return on capital
employed |
2.38 |
47.83 |
1.61 |
35.29 |
1.19 |
29,00 |
-91.79 |
|
Return on total assets
employed |
0.63 |
70.27 |
0.37 |
37.04 |
0.27 |
-201,00 |
0.31 |
|
Return on net
assets employed |
3.77 |
49.60 |
2.52 |
45.66 |
1.73 |
19,00 |
-80.16 |
|
Sales / net working
capital |
- |
- |
- |
- |
- |
45,00 |
- |
|
Stock turnover
ratio |
- |
- |
- |
- |
- |
111,00 |
- |
|
Debtor days |
- |
- |
- |
- |
- |
133,00 |
- |
|
Creditor days |
- |
- |
- |
- |
- |
122,00 |
- |
|
SHORT
TERM STABILITY |
|||||||
|
Current ratio |
0.61 |
-6.15 |
0.65 |
8.33 |
0.60 |
7,00 |
-93.22 |
|
Liquidity ratio /
acid ratio |
0.33 |
-38.89 |
0.54 |
25.58 |
0.43 |
4,00 |
-91.75 |
|
Current debt ratio |
4.43 |
-14.81 |
5.20 |
4.84 |
4.96 |
9,00 |
-50.78 |
|
Liquidity ratio
reprocessed |
- |
- |
- |
- |
- |
- |
- |
|
LONG
TERM STABILITY |
|||||||
|
Gearing |
- |
- |
- |
- |
- |
360,00 |
- |
|
Equity in
percentage |
16.62 |
12.60 |
14.76 |
-5.20 |
15.57 |
-3.211,00 |
0.52 |
|
Total debt ratio |
5.02 |
-13.00 |
5.77 |
6.46 |
5.42 |
10,00 |
-49.80 |
|
Industry comparison |
|
|
Activity code |
46761 |
|
Activity description |
Wholesale
of diamonds and other precious stones |
|
Industry average payment expectation days |
164.01 |
|
Industry
average day sales outstanding |
119.76 |
|
Industry quartile analysis |
|
|
Payment expectations |
|
|
Company result |
- |
|
Lower |
134.34 |
|
Median |
84.60 |
|
Upper |
45.33 |
|
Day sales outstanding |
|
|
Company result |
- |
|
Lower |
112.48 |
|
Median |
58.56 |
|
Upper |
28.09 |
|
NSSO details |
|
|
Business number |
441688015 |
|
Name of defendant |
JEWEL
ROUGH |
|
Legal form of defendant |
Limited
company |
|
Date of summons |
18/09/2006 |
|
Labour court |
ANTWERPEN |
Bankruptcy
details
There is no bankruptcy data against this company
Legal events
|
Legal event type |
Social
Security Summons |
||
|
Legal event sub type |
|
||
|
Event date |
10/03/2014 |
Secondary event date |
|
|
Court number |
|
Registry body identfier |
|
|
Court type |
Employment
Court |
Court name |
Antwerpen |
|
3rd party name |
Rijksdienst
voor Sociale Zekerheid |
3rd party type |
Summoning
Party |
|
3rd party address |
|
||
|
|
|||
|
Legal event type |
Social
Security Summons |
||
|
Legal event sub type |
|
||
|
Event date |
19/06/2006 |
Secondary event date |
|
|
Court number |
|
Registry body identfier |
|
|
Court type |
Employment
Court |
Court name |
Antwerpen |
|
3rd party name |
Rijksdienst
voor Sociale Zekerheid |
3rd party type |
Summoning
Party |
|
3rd party address |
|
||
|
Current director details |
|
|
Name |
VIJAKUMAR
MEHTA |
|
Position |
Director |
|
Start Date |
13/10/2009 |
|
Country |
India |
|
|
|
|
Name |
VIJAKUMAR
MEHTA |
|
Position |
Chairperson |
|
Start Date |
13/10/2009 |
|
Country |
India |
|
|
|
|
Name |
VIJAKUMAR
MEHTA |
|
Position |
Managing
Director |
|
Start Date |
31/08/2011 |
|
Country |
India |
|
|
|
|
Name |
DEPIKABEN
ASHOKKUMAR SHAH |
|
Position |
Director |
|
Start Date |
29/05/2007 |
|
Street |
203
SANDEEP APP. SANDHKUNVAGATE NAVSARI |
|
Post code |
396445 |
|
Country |
India |
|
|
|
|
Name |
VIRAL
ASHOKKUMAR SHAH |
|
Position |
Director |
|
Start Date |
31/12/1996 |
|
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.
-
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.
-
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.60.23 |
|
|
1 |
Rs.100.79 |
|
Euro |
1 |
Rs.83.29 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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.