|
Report Date : |
12.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
SORADIAM NV |
|
|
|
|
Registered Office : |
Hoveniersstraat
2 2018 Antwerpen |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
31.05.1977 |
|
|
|
|
Com. Reg. No.: |
417844821 |
|
|
|
|
Legal Form : |
Public
Limited Liability Company |
|
|
|
|
Line of Business : |
Wholesale
of diamonds and other precious |
|
|
|
|
No. of Employees |
01 |
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 : |
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Belgium |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
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 |
Company name and address
|
Business number |
417844821 |
|
Company name |
SORADIAM NV |
|
Address |
HOVENIERSSTRAAT
2 |
|
|
2018
ANTWERPEN |
|
Number of staff |
1 |
|
Date of
establishment |
31/05/1
977 |
|
Telephone number |
032330515 |
|
Fax number |
032319729 |
Commentary
The business was established over 36 years
ago.
The business has 1 employees.
The business has been at the address for
over 18 years.
Operating
Result in the latest trading period increased 154% on 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 |
1
09,042,871 |
254,526 5,416,476 |
13,234,305 |
|
31/12/2011 |
1
04,767,273 |
283,206 5,243,394 |
10,501,557 |
|
31/12/2010 |
80,421,587 |
179,193 5,053,986 |
7,965,774 |
Accounts
|
DATE OF LATEST
ACCOUNTS |
BALANCE
TOTAL |
NUMBER OF
EMPLOYEES CAPITAL |
CASHFLOW |
|
31/12/2012 |
42,664,141 |
1 4,650,000 |
229,186 |
|
31/12/2011 |
41,542,499 |
1 4,650,000 |
250,874 |
|
31/12/2010 |
34,036,128 |
1 4,650,000 |
184,090 |
Payment expectations
Past payments Payment
expectation days 29.49
Industry average payment
expectation days 129.58 Industry average day sales
outstanding 131.83
Day sales outstanding
122.68
Company information
|
Business
number |
417844821 |
Company
name |
SORADIAM NV |
|
Fax
number |
032319729 |
Date founded |
31/05/1977 |
|
Company status |
active |
Company type |
Public
Limited Liability Company |
|
|
|
Date of
latest accounts |
31/12/2012 |
|
Activity code |
46761 |
|
|
|
Currency |
Euro(€) |
|
|
|
Activity
description |
Wholesale
of diamonds and other precious |
|
|
Social
Balance Sheet Details
|
||||
|
|
||||
|
Social
Balance Sheet |
|
Total |
|
|
|
During
the reporting year ended 31-12-2012 |
||||
|
Full-time
Employees |
|
- |
|
|
|
Part-time
Employees |
|
3 |
|
|
|
Total
Fte Employees |
|
2 |
|
|
|
|
||||
|
Number
of hours worked |
||||
|
Full-time
Employees |
|
- |
|
|
|
Part-time
Employees |
|
3,096 |
|
|
|
Total |
|
3,096 |
|
|
|
|
||||
|
Personnel
Charges |
||||
|
Full-time
Employees |
|
- |
|
|
|
Part-time
Employees |
|
111,944 |
|
|
|
Total |
|
111,944 |
|
|
|
Benefits
In Addition To Wages |
- |
|
|
|
|
|
||||
|
During
the previous reporting year |
||||
|
Average
number employees in Fte |
2 |
|
|
|
|
Actual
working hours |
|
3,065 |
|
|
|
Personnel
Charges |
|
93,484 |
|
|
|
Benefits
In Addition To Wages |
- |
|
|
|
|
|
|
|
|
|
Type of Contract |
Full-Time |
Part-Time |
Total Fte |
|
Unlimited
Duration Contracts |
- |
3 |
2 |
|
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 |
- |
- |
- |
|
Higher education (non university) |
- |
- |
- |
|
Higher education (university) |
- |
- |
- |
|
Women |
Full-Time |
Part-Time |
Total Fte |
|
Primary
education |
- |
- |
- |
|
Secondairy
education |
- |
3 |
2 |
|
Higher education (non university) |
- |
- |
- |
|
Higher education (university) |
- |
- |
- |
|
|
|
|
|
|
Working
Category |
Full-Time |
Part-Time |
Total Fte |
|
Management |
- |
- |
- |
|
White
collar worker |
- |
2 |
2 |
|
Blue
collar worker |
- |
1 |
0 |
|
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
Description Joint committee
for the industry and the trade in diamant
category
Significant Events
Event Date 29/06/2012
Event Description re-appointment of
director(s)
Event Details Commentaar
29-06-2012: Herbenoemd als bestuurders tot de jaarvergadering 2018 : Zaveri
Shehul (tevens als gedelegeerd bestuurder), Jhaveri Sohil en Shah Sivani.
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 |
109,042,871 |
4.08 |
104,767,273 |
30.27 |
80,421,587 |
40,445,514 |
169 |
|
Total
operating expenses |
107,41
8,800 |
3.16 |
104,129,749 |
31.51 |
79,178,569 |
40,129,325 |
167 |
|
Operating
result |
1,624,071 |
154 |
637,524 |
-48.71 |
1,243,01
8 |
128,804 |
1160 |
|
Total
financial income |
146 |
-99 |
645,822 |
2306405 |
28 |
92,610 |
-99 |
|
Total
financial expenses |
1,369,691 |
36.95 |
1,000,139 |
-5.99 |
1,063,853 |
183,719 |
645 |
|
Results on ordinary operations
before taxation |
254,526 |
-10.13 |
283,206 |
58.05 |
179,193 |
28,651 |
788 |
|
Taxation |
84,455 |
-12.76 |
96,810 |
53.46 |
63,083 |
21,126 |
299 |
|
Results on ordinary operations
after taxation |
170,070 |
-8.76 |
186,396 |
60.53 |
116,110 |
13,941 |
1119 |
|
Extraordinary
items |
2,400 |
0 |
2,400 |
0 |
2,400 |
-3,844 |
62.43 |
|
Other
appropriations |
611.53 |
0 |
611.53 |
-0.08 |
612 |
- |
- |
|
Net
result OTHER INFORMATION |
173,082 |
-8.62 |
189,408 |
59.00 |
119,122 |
10,119 |
1610 |
|
Gross
Operating Margin |
- |
- |
- |
- |
- |
50,531 |
- |
|
Dividends |
- |
- |
- |
- |
- |
168,887 |
- |
|
Director
remuneration |
144,000 |
0 |
144,000 |
0 |
144,000 |
108,143 |
33.16 |
|
Employee
costs |
111,944 |
19.75 |
93,484 |
13.58 |
82,305 |
137,902 |
-18.82 |
|
Wages and salary |
83,123 |
5.98 |
78,435 |
19.97 |
65,380 |
11
8,594 |
-29.91 |
|
Employee pension costs |
- |
- |
- |
- |
- |
12,737 |
- |
|
Social
security contributions |
28,465 |
96.17 |
14,510 |
-10.26 |
16,170 |
29,295 |
-2.83 |
|
Other employee costs |
356 |
-33.80 |
538 |
-28.71 |
755 |
4,861 |
-92.67 |
|
Amortization
and depreciation |
56,104 |
-8.72 |
61,466 |
-5.39 |
64,968 |
18,054 |
210 |
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 |
1,197 |
-100 |
|
Tangible
fixed assets |
999,542 |
-3.24 |
1,032,969 |
-5.62 |
1,094,436 |
188,724 |
429 |
|
Land & building |
957,927 |
-4.84 |
1,006,632 |
-4.62 |
1,055,337 |
372,714 |
157 |
|
Plant & machinery |
21,878 |
455 |
3,941 |
-24.87 |
5,245 |
25,397 |
-13.85 |
|
Furniture & Vehicles |
19,736 |
-11.88 |
22,397 |
-33.84 |
33,854 |
16,918
5,029 |
16.66 |
|
Leasing & Other Similar Rights |
- |
- |
- |
- |
- |
139,170
30,812 |
- |
|
Other tangible assets |
0 |
- |
0 |
- |
0 |
11,599 |
-100 |
|
Financial
fixed assets |
502 |
0 |
502 |
18.92 |
422 |
234,444 |
-99 |
|
Total
fixed assets |
1,000,043 |
-3.23 |
1,033,471 |
-5.61 |
1,094,858 |
343,083 |
191 |
|
Inventories |
4,982,329 |
131 |
2,154,135 |
2.47 |
2,102,216 |
2,721,405 |
83.08 |
|
Raw materials & consumables |
- |
- |
- |
- |
- |
7,018,491 |
- |
|
Work in progress |
0 |
- |
0 |
- |
0 |
2,513 |
-100 |
|
Finished goods |
4,982,329 |
131 |
2,154,135 |
2.47 |
2,102,216 |
1,752,867 |
184 |
|
Other stocks |
0 |
- |
0 |
- |
0 |
456,148 |
-100 |
|
Trade
debtors |
36,649,640 |
0.27 |
36,550,015 |
19.45 |
30,599,088 |
3,673,672 |
897 |
|
Cash |
8,943 |
-99 |
1,785,222 |
946 |
170,545 |
207,138 |
-95.68 |
|
other
amounts receivable |
16,439 |
55.64 |
10,562 |
-84.79 |
69,421 |
211,968 |
-92.24 |
|
Miscellaneous
current assets |
6,747 |
-25.81 |
9,094 |
- |
0 |
14,803 |
-54.42 |
|
Total
current assets |
41,664,097 |
2.85 |
40,509,028 |
22.97 |
32,941,270 |
6,367,592 |
554 |
|
Total
Assets |
42,664,141 |
2.70 |
41,542,499 |
22.05 |
34,036,128 |
6,672,355
1,217,713 |
539 |
|
|
CURRENT
LIABILITIES
|
|||||||
|
|
Trade
creditors |
8,679,382 |
-4.94 |
9,130,282 |
43.80 |
6,349,174 |
2,800,774 |
209 |
|
|
Short term
group loans |
- |
- |
- |
- |
- |
- |
- |
|
|
Financial
debts |
19,456,078 |
-6.22 |
20,746,054 |
13.31 |
18,309,256 |
3,614,307 150,000 |
438 |
|
|
Current
portion of long term debt |
- |
- |
- |
- |
- |
90,305
14,039 |
- |
|
|
Amounts Payable for Taxes, Remuneration & Social
Security |
42,432 |
18.92 |
35,681 |
14.07 |
31,279 |
8,598- |
20.32 |
|
|
Miscellaneous
current liabilities |
251,900 |
163 |
95,453 |
-66.60 |
285,787 |
-14.65 |
- - |
|
|
Total
current liabilities |
28,429,792 |
-5.26 |
30,007,471 |
20.15 |
24,975,496 |
4,732,803 |
500 |
|
|
LONG TERM DEBTS AND LIABILITIES |
|||||||
|
|
Long term
group loans |
- |
- |
- |
- |
- |
- |
- - |
|
|
Other long
term loans |
8,806,050 |
40.24 |
6,279,200 |
57.23 |
3,993,600 |
748 |
- - |
|
|
Deffered
taxes |
11,823 |
-4.92 |
12,434 |
-4.69 |
13,046 |
40,313
31,040 |
-70.67 |
|
|
Provisions
for Liabilities & Charges |
0 |
-0 |
-0 |
3,964 0 |
-100 |
||
|
|
Other long
term liabilities |
0 |
-0 |
-0 |
92,747 |
-100 |
||
|
|
Total long
term debts |
8,817,873 |
40.15 |
6,291,634 |
57.03 |
4,006,646 |
497,055 |
1674 |
|
|
SHAREHOLDERS EQUITY |
|||||||
|
|
Issued
share capital |
4,650,000 |
0 |
4,650,000 |
0 |
4,650,000 |
869,039 |
435 |
|
|
Share
premium account |
- |
- |
- |
- |
- |
89,810 |
- |
|
|
Reserves |
766,476 |
29.17 |
593,394 |
46.88 |
403,986 |
541,892 |
41.44 |
|
|
Revaluation
reserve |
- |
- |
- |
- |
- |
927,466 |
- |
|
|
Total
shareholders equity |
5,416,476 |
3.30 |
5,243,394 |
3.75 |
5,053,986 |
1,436,956 |
276 |
|
|
Working
capital |
13,234,305 |
26.02 |
10,501,557 |
31.83 |
7,965,774 |
1,634,789 |
709 |
|
|
Cashflow |
229,186 |
-8.65 |
250,874 |
36.28 |
184,090 |
24,792 |
824 |
|
|
Net worth |
5,416,476 |
3.30 |
5,243,394 |
3.75 |
5,053,986 |
1,434,239 |
277 |
ratio analysis
|
Annual
accounts |
31-12-2012 |
change(%) |
31-12-2011 |
change(%) |
31-12-2010 |
Industry
average 2012 |
% |
|
TRADING
PERFORMANCE |
|
|
|
|
|
|
|
|
Profit
Before Tax |
0.23 |
-14.81 |
0.27 |
22.73 |
0.22 |
-10,00 |
2.30 |
|
Return on capital
employed |
1.79 |
-27.24 |
2.46 |
24.24 |
1.98 |
39,00 |
-95.41 |
|
Return on total
assets employed |
0.60 |
-11.76 |
0.68 |
28.30 |
0.53 |
-292,00 |
0.21 |
|
Return on net
assets employed |
4.70 |
-12.96 |
5.40 |
52.11 |
3.55 |
26,00 |
-81.92 |
|
Sales
/ net working capital |
8.24 |
-17.43 |
9.98 |
-1.19 |
10.10 |
64,00 |
-99 |
|
Stock
turnover ratio |
4.57 |
121 |
2.06 |
-21.07 |
2.61 |
88,00 |
-94.81 |
|
Debtor
days |
122.68 |
-3.66 |
127.34 |
-8.31 |
138.88 |
148,00 |
-17.11 |
|
Creditor
days SHORT TERM
STABILITY |
29.49 |
-7.84 |
32 |
9.33 |
29.27 |
192,00 |
-84.64 |
|
Current
ratio |
1.47 |
8.89 |
1.35 |
2.27 |
1.32 |
6,00 |
-86.64 |
|
Liquidity
ratio / acid ratio |
1.29 |
0.78 |
1.28 |
4.07 |
1.23 |
4,00 |
-67.75 |
|
Current
debt ratio |
5.25 |
-8.22 |
5.72 |
15.79 |
4.94 |
11,00 |
-52.27 |
|
Liquidity
ratio reprocessed |
- |
- |
- |
- |
- |
- |
- |
|
LONG TERM
STABILITY |
|
|
|
|
|
|
|
|
Gearing |
521.78 |
1.23 |
515.42 |
16.80 |
441.29 |
259,00 |
101 |
|
Equity
in percentage |
12.70 |
0.63 |
12.62 |
-15.02 |
14.85 |
-3.364,00 |
0.38 |
|
Total
debt ratio |
6.88 |
-0.58 |
6.92 |
20.77 |
5.73 |
12,00 |
-42.67 |
Industry
comparison
|
|
|
Activity
code |
46761 |
|
Activity
description |
Wholesale of
diamonds and other precious stones |
|
industry
average credit rating |
64.48 |
|
Industry
average credit limit |
140177.31 |
Payment Information
|
Payment
expectations |
|
|
Payment
expectation days |
29.49 |
|
Day
sales outstanding |
122.68 |
Industry comparison
|
Activity
code |
46761 |
|
Activity
description |
Wholesale of
diamonds and other precious stones |
|
Industry average payment expectation days |
129.58 |
|
Industry
average day sales outstanding |
131.83 |
Industry quartile analysis
|
Payment
expectations |
|
|
Company result |
29.49 |
|
Lower |
127.33 |
|
Median |
76.80 |
|
Upper |
45.69 |
Day sales outstanding
Company
result 122.68
Lower 106.72
Median 55.71
Upper 26.51
Shareholder Details
Group
Structure
No group structure for this company.
Minority
Shareholders
No minority shareholders found
Minority
Interests
No
minority interests found
COURT DATA
There is no data for this company
Director details
Current
director details
Name SHEHULZAVERI
Position Director
Start Date 18/03/1998
Date of
birth 23/05/1974
Street 5 DELLA FAILLELAAN ANTWERPEN
Post code 2020
Country Belgium
Former director details
Name SHEHUL ZAVERI
Position Managing Director
Start Date 16/08/2010
End Date 28/04/2012
Date of birth 23/05/1974
Street 5 DELLA FAILLELAAN
ANTWERPEN
Post code 2020
Country Belgium
Name SOHIL RAJNIKANT
JHAVERI
Position Director
Start Date 16/08/2010
End Date 28/04/2012
Date of birth 25/05/1957
Street 119 BELGIËLEI
ANTWERPEN
Post code 2018
Country Belgium
Name SIVANI KUMARPAL SHAH
Position Director
Start Date 16/08/2010
End Date 28/04/2012
Street 5 DELLA FAILLELAAN ANTWERPEN
Post code 2020
Country Belgium
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.61.56 |
|
|
1 |
Rs.103.50 |
|
Euro |
1 |
Rs.82.41 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.