|
Report Date : |
26.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
PICANOL NV |
|
|
|
|
Registered Office : |
Steverlyncklaan 15, Be-8900
|
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
01.09.1936 |
|
|
|
|
Com. Reg. No.: |
405502362 |
|
|
|
|
Legal Form : |
Public
Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturer
of machinery for textile, apparel and leather production |
|
|
|
|
No of Employees : |
619 (2013) |
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 – 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 |
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 |
405502362 |
|
|
|
|
Company name |
PICANOL NV |
|
|
|
|
Headquarters Address |
Steverlyncklaan 15 |
|
|
Be-8900 Ypres |
|
|
|
|
Operating Address |
POLENLAAN 3 |
|
|
8900 IEPER |
|
|
|
|
Number of staff |
619 |
|
Date of establishment |
01/09/1936 |
|
Telephone number |
057222111 |
|
Fax number |
057222001 |
Company name Company Number
Artela NV 453029590
|
The business was established over
85 years ago. |
|
The business has 619
employees. |
|
The business is part of a
group. |
|
The business has been at the
address for over 11 years. |
|
Operating Result in the latest
trading period increased 55% on the previous trading period. |
|
Net Worth increased by 39%
during the latest trading period. |
|
A 29% growth in Total Assets
occurred during the latest trading period. |
|
Pre-tax profits increased by
57% compared to the previous trading period. |
|
Turnover in the latest trading
period increased 31% on the previous trading period. |
DATE OF LATEST
ACCOUNTS TURNOVER PROFIT BEFORE TAX NET WORTH WORKING
CAPITAL
31/12/2013 431,919,347
85,701,202 226,744,469 156,391,347
31/12/2012 329,453,865
54,268,116 162,464,490 118,994,440
31/12/2011 348,868,784
54,160,691 122,444,696 79,297,061
Accounts
DATE OF LATEST
ACCOUNTS BALANCE TOTAL NUMBER OF EMPLOYEES CAPITAL CASHFLOW
31/12/2013 325,470,358 619 22,200,000
65,789,584
31/12/2012 251,640,352 609 22,200,000
41,946,726
31/12/2011 203,425,019 582 22,200,000
65,568,832
Past payments
Industry average payment 41.08
expectation days
Day sales outstanding 30.58
Payment expectation days 46.88
Industry average day sales 19593.24
outstanding
BANKRUPTCY DETAILS
Court action type no
|
Business
number |
405502362 |
Company
name |
PICANOL
NV |
|
Fax
number |
057222001 |
Date
founded |
01/09/1936 |
|
Company
status |
active |
Company
type |
Public
Limited Liability Company (BE) |
|
Currency |
Euro
(€) |
Date
of latest accounts |
31/12/2013 |
|
Activity
code |
28940 |
Liable
for VAT |
yes |
|
Activity
description |
Manufacturer
of machinery for textile, apparel and leather production |
VAT
Number |
BE.0405.502.362
Check VAT number |
|
Belgian
Bullettin of Acts Publications - |
moniteur
belge |
|
|
|
Social Balance Sheet |
Total |
|
During the reporting year |
|
|
ended 31-12-2013 |
|
|
Full-time Employees |
569 |
|
Part-time Employees |
76 |
|
Total Fte Employees |
626 |
|
|
|
|
Number of hours worked |
|
|
Full-time Employees |
870,152 |
|
Part-time Employees |
84,127 |
|
Total |
954,279 |
|
|
|
|
Personnel Charges |
|
|
Full-time Employees |
34,896,955 |
|
Part-time Employees |
3,221,821 |
|
Total |
38,118,776 |
|
Benefits In Addition To
Wages |
715,075 |
|
|
|
|
During the previous
reporting year |
|
|
Average number employees
in Fte |
573 |
|
Actual working hours |
850,765 |
|
Personnel Charges |
33,867,740 |
|
Benefits In Addition To
Wages |
639,427 |
|
Type of Contract |
Full-Time |
Part-Time |
Total Fte |
|
Unlimited Duration Contracts |
459 |
73 |
514 |
|
Limited Duration Contracts |
106 |
- |
106 |
|
Contracts For Specific Work |
- |
- |
- |
|
Contracts Regarding
Substitution |
- |
- |
- |
|
|
|||
|
|
|||
|
Gender and Education Level |
|||
|
Men |
Full-Time |
Part-Time |
Total Fte |
|
Primary education |
- |
- |
- |
|
Secondary education |
368 |
51 |
406 |
|
Higher education (non
university) |
83 |
4 |
86 |
|
Higher education (university) |
38 |
- |
38 |
|
Women |
Full-Time |
Part-Time |
Total Fte |
|
Primary education |
- |
- |
- |
|
Secondary education |
41 |
8 |
47 |
|
Higher education (non
university) |
25 |
6 |
30 |
|
Higher education (university) |
10 |
4 |
13 |
|
|
|||
|
|
|||
|
Working Category |
Full-Time |
Part-Time |
Total Fte |
|
Management |
- |
- |
- |
|
White collar worker |
208 |
21 |
225 |
|
Blue collar worker |
357 |
52 |
395 |
|
Other |
- |
- |
- |
|
|
|||
|
Temporary personnel |
|
Total |
|
|
Average number of temporary
staff |
10 |
|
|
|
Actual working hours |
|
19,387 |
|
|
Cost of temporary staff |
|
562,324 |
|
|
|
|||
|
|
|||
|
New staff and leavers |
Full-Time |
Part-Time |
Total Fte |
|
New Starters |
84 |
- |
84 |
|
Leavers |
64 |
8 |
70 |
|
|
|
|
|
|
Total of formal continuing
vocational training initiatives |
|
|
|
|
for workers paid by the
employer |
Male |
Female |
|
|
Number of employees |
433 |
80 |
|
|
Number of training hours |
2,947 |
805 |
|
|
Net costs for enterprise |
60,441 |
18,306 |
|
|
Total of less formal and
informal continuing vocational training initiatives for workers paid by the
employer |
Male |
Female |
|
|
Number of employees |
510 |
88 |
|
|
Number of training hours |
16,324 |
2,831 |
|
|
Net costs for enterprise |
604,088 |
99,228 |
|
(JIC)
|
JIC Code |
111 |
|
Description |
JC for the metal, machinery
and electrical construction |
|
Category |
|
|
JIC Code 209 |
|
Description Joint committee for the employees off the metal
industry |
Event Date 29/05/2012
Event Details Bekrachting van de algemene vergadering.
Comparison Mode
·
Average Median Export
accounts to CSV File
Profit & Loss
|
Annual accounts |
31-12-2013 |
% |
31-12-2012 |
% |
31-12-2011 |
Industry average 2013 |
% |
|
Weeks |
52 |
|
52 |
|
52 |
|
|
|
Currency |
EUR |
|
EUR |
|
EUR |
|
|
|
Turnover |
431,919,347 |
31.10 |
329,453,865 |
-5.57 |
348,868,784 |
119,716,991 |
260 |
|
Total operating expenses |
358,492,294 |
27.02 |
282,240,467 |
-7.40 |
304,796,501 |
100,410,978 |
257 |
|
Operating result |
73,427,053 |
55.52 |
47,213,398 |
7.13 |
44,072,283 |
14,495,930 |
406 |
|
Total financial income |
15,352,135 |
72.98 |
8,874,854 |
-22.47 |
11,446,960 |
2,297,074 |
568 |
|
Total financial expenses |
3,077,985 |
69.11 |
1,820,136 |
33.98 |
1,358,552 |
1,446,131 |
112 |
|
Results on ordinary operations
before taxation |
85,701,202 |
57.92 |
54,268,116 |
0.20 |
54,160,691 |
15,346,872 |
458 |
|
Taxation |
21,193,801 |
45.62 |
14,554,331 |
113 |
6,832,172 |
4,119,465 |
414 |
|
Results on ordinary operations
after taxation |
64,507,402 |
62.43 |
39,713,785 |
-16.09 |
47,328,519 |
11,742,341 |
449 |
|
Extraordinary items |
-417,617 |
-252 |
273,154 |
-98.31 |
16,161,205 |
685,288 |
-160 |
|
Other appropriations |
0.00 |
- |
0.00 |
- |
0.00 |
- |
- |
|
Net result OTHER
INFORMATION |
64,089,785 |
60.28 |
39,986,939 |
-37.02 |
63,489,724 |
12,427,939 |
415 |
|
Gross Operating Margin |
- |
- |
- |
- |
- |
378,061 |
- |
|
Dividends |
- |
- |
- |
- |
- |
- |
- |
|
Director remuneration |
155,750 |
-29.62 |
221,304 |
-39.86 |
368,000 |
477,875 |
-67.41 |
|
Employee costs |
39,290,260 |
11.58 |
35,212,231 |
-2.00 |
35,929,883 |
12,197,835 |
222 |
|
Wages and salary |
25,485,216 |
13.42 |
22,470,722 |
-0.85 |
22,662,354 |
8,264,174 |
208 |
|
Employee pension costs |
1,171,484 |
- |
1,344,492 |
- |
1,420,082 |
531,453 |
120 |
|
Social security contributions |
8,605,095 |
13.47 |
7,583,831 |
-2.77 |
7,799,921 |
2,781,737 |
209 |
|
Other employee costs |
4,028,466 |
5.65 |
3,81 3,187 |
-5.79 |
4,047,526 |
808,639 |
398 |
|
Amortization and depreciation |
1,699,798 |
-13.27 |
1,959,787 |
-5.74 |
2,079,108 |
1,941,998 |
-12.47 |
Balance Sheet
|
Annual accounts |
31-12-2013 |
% |
31-12-2012 |
% |
31-12-2011 |
Industry average 2013 |
% |
|||
|
Weeks |
52 |
|
52 |
|
52 |
|
|
|||
|
Currency |
EUR |
|
EUR |
|
EUR |
|
|
|||
|
Intangible fixed assets |
423,158 |
- |
613,352 |
- |
646,206 |
179,587 |
135 |
|||
|
Tangible fixed assets |
9,122,479 |
30.08 |
7,012,981 |
-7.44 |
7,576,366 |
4,576,109 |
99 |
|||
|
Land & building |
4,147,409 |
-6.44 |
4,432,983 |
-6.58 |
4,745,348 |
2,406,546 |
72.34 |
|||
|
Plant & machinery |
1, 183,582 |
-18.89 |
1,459,192 |
-24.28 |
1,927,148 |
2,432,995 |
-51.35 |
|||
|
Furniture & Vehicles |
682,597 |
2.35 |
666,907 |
1.99 |
653,870 |
228,363 26,601 |
198 |
|||
|
Leasing & Other Similar
Rights |
- |
- |
- |
- |
- |
- - |
- |
|||
|
Other tangible assets |
3,108,890 |
584 |
453,900 |
81.56 |
250,000 |
442,511 |
602 |
|||
|
Financial fixed assets |
75,903,044 |
46.13 |
51,942,198 |
0.06 |
51,913,197 |
106,429,062 |
-28.68 |
|||
|
Total fixed assets |
85,448,680 |
43.45 |
59,568,530 |
-0.94 |
60,135,769 |
97,881,125 |
-12.70 |
|||
|
Inventories |
22,283,346 |
21.45 |
1 8,348,343 |
8.70 |
16,879,704 |
11,076,638 |
101 |
|||
|
Raw materials &
consumables |
15,069,462 |
13.33 |
1 3,297,072 |
6.94 |
12,434,629 |
12,255,061 |
22.97 |
|||
|
Work in progress |
2,831,844 |
1.07 |
2,801,995 |
58.81 |
1,764,317 |
1,698,957 |
66.68 |
|||
|
Finished goods |
4,382,040 |
94.82 |
2,249,276 |
-16.10 |
2,680,758 |
1,705,579 |
156 |
|||
|
Other stocks |
0 |
- |
0 |
- |
0 |
12,689 |
-100 |
|||
|
Trade debtors |
36,190,703 |
-29.47 |
51,314,311 |
58.71 |
32,331,583 |
11,433,353 |
216 |
|||
|
Cash |
6,536,246 |
-6.93 |
7,022,862 |
-91.78 |
85,470,021 |
3,763,087 |
73.69 |
|||
|
other amounts receivable |
161,492,891 |
2594 |
5,993,194 |
-25.12 |
8,003,287 |
20,627,070 |
682 |
|||
|
Miscellaneous current assets |
13,518,491 |
-87.64 |
109,393,112 |
17991 |
604,655 |
1,821,461 |
642 |
|||
|
Total current assets |
240,021,678 |
24.96 |
1 92,071,821 |
34.04 |
143,289,250 |
48,721,608 |
392 |
|||
|
Total Assets |
325,470,358 |
29.34 |
251,640,352 |
23.70 |
203,425,019 |
146,602,733 13,861,383 |
122 |
|||
|
Trade
creditors |
46,041,556 |
0.85 |
45,652,106 |
12.79 |
40,474,048 |
10,532,877 |
337 |
|||
|
Short term group loans |
- |
- |
- |
- |
- |
- |
- |
|||
|
Financial debts |
13,374,417 |
225 |
4,110,520 |
1263 |
301,516 |
49,335,560 8,064,919 |
-72.89 |
|||
|
Current portion of long term
debt |
114,316 |
-51.22 |
234,346 |
-72.08 |
839,346 |
2,571,439 114,316 |
-95.55 |
|||
|
Amounts Payable for Taxes,
Remuneration & Social Security |
7,798,541 |
8.41 |
7,193,582 |
3.92 |
6,921,923 |
326,715 - |
237 |
|||
|
Miscellaneous current
liabilities |
16,301,501 |
2.61 |
15,886,827 |
2.79 |
15,455,356 |
145 |
- - |
|||
|
Total current liabilities |
83,630,331 |
14.44 |
73,077,381 |
14.20 |
63,992,189 |
57,152,780 |
46.33 |
|||
|
LONG TERM DEBTS AND LIABILITIES |
|
|
|
|
|
|
||||
|
Long term group loans |
- |
- |
- |
- |
- |
- |
- - |
|||
|
Other long term loans |
89,427 |
-64.69 |
253,294 |
-52.64 |
534,866 |
-99 |
- - |
|||
|
Deffered taxes Provisions for
Liabilities & Charges |
14,582,973 |
-4.26 |
15,231,835 |
-3.64 |
15,807,062 |
100,490 100,490 3,598,897 202,775 |
305 |
|||
|
Other long term liabilities |
0 |
- |
0 |
- |
0 |
0 |
- |
|||
|
Total long term debts |
14,672,400 |
-5.25 |
15,485,129 |
-5.24 |
16,341,928 |
20,769,892 |
-29.36 |
|||
|
SHAREHOLDERS EQUITY |
|
|
|
|
|
|
|
|||
|
Issued share capital |
22,200,000 |
0 |
22,200,000 |
0 |
22,200,000 |
6,922,625 |
220 |
|||
|
Share premium account |
1,518,428 |
0 |
1,518,428 |
0 |
1,518,428 |
759,918 |
99 |
|||
|
Reserves |
203,449,199 |
45.99 |
139,359,414 |
40.24 |
99,372,475 |
61,567,457 |
230 |
|||
|
Revaluation reserve |
- |
- |
- |
- |
- |
- |
- |
|||
|
Total shareholders equity |
227,167,627 |
39.30 |
163,077,842 |
32.49 |
123,090,902 |
68,680,061 |
230 |
|||
|
Working capital |
156,391,347 |
31.43 |
11 8,994,440 |
50.06 |
79,297,061 |
-8,431,172 |
1854 |
|||
|
Cashflow |
65,789,584 |
56.84 |
41,946,726 |
-36.03 |
65,568,832 |
14,127,187 |
365 |
|||
|
Net worth |
226,744,469 |
39.57 |
162,464,490 |
32.68 |
122,444,696 |
68,500,475 |
231 |
|||
Ratio Analysis
|
Annual accounts |
31-12-2013 |
change(%) |
31-12-2012 |
change(%) |
31-12-2011 |
Industry average 2013 |
% |
|
TRADING PERFORMANCE |
|
|
|
|
|
|
|
|
Profit Before Tax |
19.84 |
20.46 |
16.47 |
6.12 |
15.52 |
11,00 |
80.36 |
|
Return on capital employed |
35.44 |
16.62 |
30.39 |
-21.76 |
38.84 |
15,00 |
136 |
|
Return on total assets
employed |
26.33 |
22.07 |
21.57 |
-18.97 |
26.62 |
8,00 |
229 |
|
Return on net assets employed |
37.73 |
13.37 |
33.28 |
-24.36 |
44 |
20,00 |
88.65 |
|
Sales / net working capital |
2.76 |
-0.36 |
2.77 |
-37.05 |
4.40 |
4,00 |
0.00 |
|
Stock turnover ratio |
5.16 |
-7.36 |
5.57 |
15.08 |
4.84 |
20,00 |
-74.20 |
|
Debtor days |
30.58 |
-46.21 |
56.85 |
68.05 |
33.83 |
68,00 |
-55.03 |
|
Creditor days SHORT TERM
STABILITY |
46.88 |
-20.60 |
59.04 |
21.81 |
48.47 |
38,00 |
23.37 |
|
Current ratio |
2.87 |
9.13 |
2.63 |
17.41 |
2.24 |
1,00 |
187 |
|
Liquidity ratio / acid ratio |
2.60 |
9.24 |
2.38 |
20.20 |
1.98 |
1,00 |
160 |
|
Current debt ratio |
0.37 |
-17.78 |
0.45 |
-13.46 |
0.52 |
1,00 |
-63.00 |
|
Liquidity ratio reprocessed |
- |
- |
- |
- |
- |
- |
- |
|
LONG TERM STABILITY |
|
|
|
|
|
|
|
|
Gearing |
5.98 |
112 |
2.82 |
107 |
1.36 |
89,00 |
-93.28 |
|
Equity in percentage |
69.89 |
7.59 |
64.96 |
7.02 |
60.70 |
48,00 |
45.60 |
|
Total debt ratio |
0.43 |
-20.37 |
0.54 |
-16.92 |
0.65 |
2,00 |
-78.50 |
|
Activity code |
28940 |
|
|
Activity description |
Manufacture of machinery for
textile, apparel and leather production |
|
|
Payment Information Summary |
|
|
Total number of Invoices
available |
47 |
|
Total number of Invoices paid
within or up to 30 days after the due date |
5 |
|
Total number of Invoices paid
more than 30 days after the due date |
3 |
|
Total number of Invoices currently
outstanding where the due date has not yet been reached |
20 |
|
Total number of Invoices currently
outstanding beyond the due date |
19 |
|
Payment expectation days |
46.88 |
|
|
Day sales outstanding |
30.58 |
|
|
Activity code |
28940 |
|
|
Activity description |
Manufacturer of machinery for
textile, apparel and leather production |
|
|
Industry average payment expectation days |
41.08 |
|
|
Industry average day sales outstanding |
19593.24 |
|
|
Payment expectations |
|
|
Company result |
46.88 |
|
Lower |
116.86 |
|
Median |
69.84 |
Day sales
outstanding
Company result 30.58
Lower 53.12
Median 41.39
Upper 23.51
Summary
Group - Number of Companies 15
Linkages - Number of Companies 4
Number of Countries 2
|
Company name |
Number |
Latest financials |
|
ARTELA NV |
453029590 |
31-12-2012 |
|
PICANOL NV |
405502362 |
31-12-2013 |
|
MELOTTE NV |
407155421 |
31-12-2012 |
|
GEREEDSCHAPSMAKERIJ MELOTTE IN
VEREFFENI... |
434700550 |
31-12-2007 |
|
PROFERRO NV |
438243426 |
31-12-2013 |
|
PSICONTROL NV |
437446145 |
31-12-2013 |
|
VERBRUGGE NV |
441554490 |
31-12-2013 |
|
PSICONTROL MECHATRONICS SRL
ASCTN SNS BT... |
|
|
|
BURCKLE ET CIE SOC.ETR. E.P.B. |
|
|
|
PICANOL DO BRASIL SOC.ETR.
E.P.B. |
|
|
|
PT GTP BANDUNG SOC.ETR. E.P.B. |
|
|
|
PICANOL (SUZHOU IND.PARK)
TEXTILE MACHIN... |
|
|
|
PICANOL (SUZHOU) TRADING C0
LTD SOC.ETR.... |
|
|
|
PICANOL TEKSTIL MAKINALARI
TIC. LTD. STI... |
|
|
|
PICANOL OF AMERICA INC.
SOC.ETR. E.P.B. |
|
|
|
Business number |
Company
name |
Date of accounts |
|
461029617 |
Symphony Mills NV |
31/12/2012 |
|
428949935 |
Buraco NV |
31/12/2012 |
|
466125382 |
Pasma NV |
31/12/2012 |
|
466125382 |
Pasma NV |
31/12/2012 |
No
minority interests found
Summary
Group - Number of Companies 15
Linkages - Number of Companies 4
Number of Countries 2
Linked Companies
NAME Number LATEST
KEY TURNOVER
GÜNNE WEBMASCHINENFABRIK HRB
5406 31.12.2012 -
GESELLSCHAFT MIT
BESCHRÄNKTER HAFTUNG
BURACO NV 428949935
31.12.2012 --
SYMPHONY MILLS NV 461029617
31.12.2012 €17.285.549
PASMA NV 466125382
31.12.2012 ---
|
NSSO details |
|
|
Business number |
405502362 |
There
is no bankruptcy data against this company
court
data
there is
no data for this company
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.02 |
|
|
1 |
Rs.99.43 |
|
Euro |
1 |
Rs.77.84 |
INFORMATION DETAILS
|
Report Prepared
by : |
TPT |
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.