MIRA INFORM REPORT

 

 

Report No. :

315818

Report Date :

04.04.2015

 

IDENTIFICATION DETAILS

 

Name :

CARGILL COTTON LIMITED

 

 

Registered Office :

Knowle Hil Park, Fairmile Lane, Cobham KT11, 2PD

 

 

Country :

United Kingdom

 

 

Financials (as on) :

31.05.2014

 

 

Date of Incorporation :

15.09.2005

 

 

Com. Reg. No.:

05564843

 

 

Legal Form :

Private Limited With Share Capital

 

 

Line of Business :

Trading of Cotton.

 

 

No. of Employees :

30

 

 

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 – December 31, 2014

 

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

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 third largest economy in Europe after Germany and France. Over the past two decades, the government has greatly reduced public ownership. 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, are key drivers of British GDP growth. Manufacturing, meanwhile, has declined in importance but still accounts for about 10% of economic output. 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. Falling 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 included 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 about 11% of GDP in 2010 to nearly 1% by 2015. In November 2011, Chancellor of the Exchequer George OSBORNE announced additional austerity measures through 2017 largely due to 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 £375 billion (approximately $605 billion) as of December 2013. 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, however, in 2013 GDP grew 1.4%, accelerating unexpectedly in the second half of the year because of greater consumer spending and a recovering housing market. The budget deficit is falling but remains high at nearly 7% and public debt has continued to increase.

 

Source : CIA

 

 

 

Company summary

 

Registered Address

Knowle Hil Park, Fairmile Lane, Cobham KT11, 2PD

Trading Address

Knowle Hil Park, Fairmile Lane, Cobham KT11, 2PD

Website Address

http://www.cargillcotton.com

Company Number

05564843

Telphone Number

01932861000

Fax Number

 

TPS

No

FPS

No

Incorporation Date

15/09/2005

Type

Private Limited With Share Capital

Currency

GBP

Filing Date of Accounts

27/02/2015

SIC07

01160

Share Capital

£1

SIC07 Description

Growing of Fibre Crops

Principal Activity

Trading of Cotton.

 

 

Key Financials

 

Year to Date

Turnover

Pre Tax Profit

Shareholder

Funds Employee

31/05/2014

£385,335,000

-£3,125,000

£5,053,000

30

31/05/2013

£444,787,000

£5,513,000

£6,064,000

30

31/05/2012

£465,691,000

-£27,550,000

£3,772,000

30

           

 

Trade debtors/bad debt summary

 

Total Number of Documented Trade         0

Total Value of Documented Trade            £0

 

 

Commentary

 

This company has been treated as a Large company in respect of the rating/limit generated.

This company's return on total assets employed ratio indicates a poor or negative return on assets.

This company's ratio of total liabilities to total assets indicates the presence of moderate equity funding.

This company trades in an industry with a moderate level of corporate failures.

 

 

 Current Directors

 

Name

Robin David Thurston

Date of Birth

01/03/1951

Officers Title

Mr

Nationality

British

Present Appointments

175

Function

Director

Appointment Date

15/09/2005

 

 

Address

Knowle Hill Park, Fairmile Lane, Cobham, Surrey, KT11 2PD

 

Name

Stephen James Hamilton

Date of Birth

10/07/1969

Officers Title

Mr

Nationality

British

Present Appointments

6

Function

Director

Appointment Date

09/05/2013

 

 

Address

Knowle Hill Park, Fairmile Lane, Cobham, Surrey, KT11 2PD

 

Name

Lance Bengo Mrema

Date of Birth

17/01/1977

Officers Title

Mr

Nationality

Irish

Present Appointments

1

Function

Director

Appointment Date

14/11/2013

 

 

Address

Knowle Hill Park, Fairmile Lane, Cobham, Surrey, KT11 2PD

 

Name

Carl Patrick Peltzer

Date of Birth

22/09/1966

Officers Title

Mr

Nationality

British

Present Appointments

1

Function

Director

Appointment Date

30/11/2014

 

 

Address

Knowle Hill Park, Fairmile Lane, Cobham, Surrey, KT11 2PD

 

 

Current company secretary

 

Name

Robin David Thurston

Date of Birth

01/03/1951

Officers Title

Mr

Nationality

British

Present Appointments

175

Function

Company Secretary

Appointment Date

15/09/2005

 

 

Address

Knowle Hill Park, Fairmile Lane, Cobham, Surrey, KT11 2PD

 

 

Top 20 Shareholders

 

Name

Currency

Share Count

Share Type

Nominal Value

% of Total Share Count

CARGILL PLC

GBP

1

ORDINARY

1

100

 

 

Financial Statements

 

Profit & Loss

 

 

Date Of Accounts

31/05/14

(%)

31/05/13

(%)

31/05/12

(%)

31/05/11

(%)

31/05/10

 

Weeks

52

(%)

52

(%)

52

(%)

52

(%)

52

 

Currency

GBP

(%)

GBP

(%)

GBP

(%)

GBP

(%)

GBP

 

Consolidated A/cs

N

(%)

N

(%)

N

(%)

N

(%)

N

Turnover

£385,335,000

-13.4%

£444,787,000

-4.5%

£465,691,000

22.7%

£379,420,000

5.2%

£360,793,000

Export

£369,277,000

-16.1%

£440,091,000

-5.5%

£465,691,000

-

-

-

-

Cost of Sales

£384,671,000

-11.4%

£434,035,000

-11%

£487,501,000

46.4%

£333,099,000

-2.1%

£340,151,000

Gross Profit

£664,000

-93.8%

£10,752,000

149.3%

-£21,810,000

-147.1%

£46,321,000

124.4%

£20,642,000

Wages & Salaries

£2,329,000

-21.3%

£2,959,000

24.5%

£2,377,000

-9.8%

£2,635,000

-24.2%

£3,475,000

Directors Emoluments

£292,000

-68%

£913,000

85.9%

£491,000

-57.1%

£1,145,000

-12.9%

£1,315,000

Operating Profit

-£2,626,000

-143%

£6,104,000

122.4%

-£27,279,000

-199.7%

£27,374,000

79.8%

£15,227,000

Depreciation

£10,000

100%

£5,000

-28.6%

£7,000

-84.8%

£46,000

31.4%

£35,000

Audit Fees

£40,000

2.6%

£39,000

2.6%

£38,000

2.7%

£37,000

2.8%

£36,000

Interest Payments

£501,000

-15.9%

£596,000

109.9%

£284,000

-79.9%

£1,414,000

54.5%

£915,000

Pre Tax Profit

-£3,125,000

-156.7%

£5,513,000

120%

-£27,550,000

-206.1%

£25,960,000

81.4%

£14,312,000

Taxation

£2,114,000

165.6%

-£3,221,000

-145.6%

£7,060,000

197.7%

-£7,227,000

-77.9%

-£4,063,000

Profit After Tax

-£1,011,000

-144.1%

£2,292,000

111.2%

-£20,490,000

-209.4%

£18,733,000

82.8%

£10,249,000

Dividends Payable

-

-

-

-

-

-

-

-

-

Retained Profit

-£1,011,000

-144.1%

£2,292,000

111.2%

-£20,490,000

-209.4%

£18,733,000

82.8%

£10,249,000

 

Balance Sheet

 

 

Date Of Accounts

31/05/14

(%)

31/05/13

(%)

31/05/12

(%)

31/05/11

(%)

31/05/10

Tangible Assets

£32,000

-23.8%

£42,000

90.9%

£22,000

10%

£20,000

-64.3%

£56,000

Intangible Assets

0

-

0

-

0

-

0

-

0

Total Fixed Assets

£32,000

-23.8%

£42,000

90.9%

£22,000

10%

£20,000

-64.3%

£56,000

Stock

£46,145,000

41.9%

£32,509,000

-11.7%

£36,829,000

-33.6%

£55,476,000

-7.4%

£59,929,000

Trade Debtors

£19,102,000

-37.2%

£30,404,000

-8.7%

£33,287,000

143.2%

£13,685,000

86%

£7,359,000

Cash

0

-

0

-

0

-100%

£14,000

-

0

Other Debtors

£39,193,000

-50.2%

£78,679,000

-22.2%

£101,120,000

-42.4%

£175,417,000

392.7%

£35,603,000

Miscellaneous Current Assets

0

-

0

-

0

-

0

-

0

Total Current Assets

£104,440,000

-26.2%

£141,592,000

-17.3%

£171,236,000

-30%

£244,592,000

137.7%

£102,891,000

Trade Creditors

£23,553,000

-17.8%

£28,646,000

266.7%

£7,812,000

35.8%

£5,752,000

8.8%

£5,286,000

Bank Loans & Overdrafts

0

-

0

-

0

-

0

-

0

Other Short Term Finance

£56,352,000

-29.4%

£79,819,000

3.5%

£77,089,000

-38.5%

£125,409,000

117.1%

£57,766,000

Miscellaneous Current Liabilities

£19,514,000

-28%

£27,105,000

-67.2%

£82,585,000

-7.4%

£89,189,000

397.2%

£17,939,000

Total Current Liabilities

£99,419,000

-26.7%

£135,570,000

-19.1%

£167,486,000

-24%

£220,350,000

172.1%

£80,991,000

Bank Loans & Overdrafts and LTL

0

-

0

-

0

-

0

-

0

Other Long Term Finance

0

-

0

-

0

-

0

-

0

Total Long Term Liabilities

0

-

0

-

0

-

0

-

0

 

Capital Reserve 

 

 

Date Of Accounts

31/05/14

(%)

31/05/13

(%)

31/05/12

(%)

31/05/11

(%)

31/05/10

Called Up Share Capital

-

-

-

-

-

-

-

-

-

P & L Account Reserve

£5,053,000

-16.7%

£6,064,000

60.8%

£3,772,000

-84.5%

£24,262,000

10.5%

£21,956,000

Revaluation Reserve

-

-

-

-

-

-

-

-

-

Sundry Reserves

-

-

-

-

-

-

-

-

-

Shareholder Funds

£5,053,000

-16.7%

£6,064,000

60.8%

£3,772,000

-84.5%

£24,262,000

10.5%

£21,956,000

 

 

Other Financial Items

 

 

Date Of Accounts

31/05/14

(%)

31/05/13

(%)

31/05/12

(%)

31/05/11

(%)

31/05/10

Net Worth

£5,053,000

-16.7%

£6,064,000

60.8%

£3,772,000

-84.5%

£24,262,000

10.5%

£21,956,000

Working Capital

£5,021,000

-16.6%

£6,022,000

60.6%

£3,750,000

-84.5%

£24,242,000

10.7%

£21,900,000

Total Assets

£104,472,000

-26.2%

£141,634,000

-17.3%

£171,258,000

-30%

£244,612,000

137.6%

£102,947,000

Total Liabilities

£99,419,000

-26.7%

£135,570,000

-19.1%

£167,486,000

-24%

£220,350,000

172.1%

£80,991,000

Net Assets

£5,053,000

-16.7%

£6,064,000

60.8%

£3,772,000

-84.5%

£24,262,000

10.5%

£21,956,000

 

Cash Flow

 

 

Date Of Accounts

31/05/14

(%)

31/05/13

(%)

31/05/12

(%)

31/05/11

(%)

31/05/10

Net Cashflow from Operations

-

-

-

-

£56,091,000

199.5%

-£56,377,000

-115%

-£26,220,000

Net Cashflow before Financing

-

-

-

-100%

£48,664,000

164.9%

-£74,967,000

-163.4%

-£28,460,000

Net Cashflow from Financing

-

-

-

-

-£48,678,000

-164.9%

£74,981,000

163.5%

£28,459,000

Increase in Cash

-

-

-

-

-£14,000

-200%

£14,000

999.9%

-£1,000

 

Miscellaneous

 

 

Date Of Accounts

31/05/14

(%)

31/05/13

(%)

31/05/12

(%)

31/05/11

(%)

31/05/10

 

Contingent Liability

YES

-

YES

-

YES

-

YES

-

YES

Capital Employed

£5,053,000

-16.7%

£6,064,000

60.8%

£3,772,000

-84.5%

£24,262,000

10.5%

£21,956,000

Number of Employees

30

-

30

-

30

3.4%

29

-6.5%

31

 

Auditors

KPMG LLP

 

Auditor Comments

The audit report contains no adverse comments

 

Bankers

 

 

Bank Branch Code

 

 

Ratios

 

 

Date Of Accounts

31/05/14

31/05/13

31/05/12

31/05/11

31/05/10

Pre-tax profit margin %

-0.81

1.24

-5.92

6.84

3.97

Current ratio

1.05

1.04

1.02

1.11

1.27

Sales/Net Working Capital

76.74

73.86

124.18

15.65

16.47

Gearing %

0

0

0

0

0

Equity in %

4.80

4.30

2.20

9.90

21.30

Creditor Days

22.24

23.44

6.10

5.51

5.33

Debtor Days

18.04

24.88

26.01

13.12

7.42

Liquidity/Acid Test

0.58

0.80

0.80

0.85

0.53

Return On Capital Employed %

-61.84

90.91

-730.38

106.99

65.18

Return On Total Assets Employed %

-2.99

3.89

-16.08

10.61

13.90

Current Debt Ratio

19.67

22.35

44.40

9.08

3.68

Total Debt Ratio

19.67

22.35

44.40

9.08

3.68

Stock Turnover Ratio %

11.97

7.30

7.90

14.62

16.61

Return on Net Assets Employed %

-61.84

90.91

-730.38

106.99

65.18

 

Date Of Accounts

31/05/14

31/05/13

31/05/12

31/05/11

31/05/10

Pre-tax profit margin %

-0.81

1.24

-5.92

6.84

3.97

Current ratio

1.05

1.04

1.02

1.11

1.27

Sales/Net Working Capital

76.74

73.86

124.18

15.65

16.47

Gearing %

0

0

0

0

0

Equity in %

4.80

4.30

2.20

9.90

21.30

Creditor Days

22.24

23.44

6.10

5.51

5.33

Debtor Days

18.04

24.88

26.01

13.12

7.42

Liquidity/Acid Test

0.58

0.80

0.80

0.85

0.53

Return On Capital Employed %

-61.84

90.91

-730.38

106.99

65.18

Return On Total Assets Employed %

-2.99

3.89

-16.08

10.61

13.90

Current Debt Ratio

19.67

22.35

44.40

9.08

3.68

Total Debt Ratio

19.67

22.35

44.40

9.08

3.68

Stock Turnover Ratio %

11.97

7.30

7.90

14.62

16.61

Return on Net Assets Employed %

-61.84

90.91

-730.38

106.99

65.18

 

 

Event History

 

Date

Description

14/03/2015

New Accounts Filed

14/03/2015

New Accounts Filed

04/12/2014

Mr P. Kinney has left the board

04/12/2014

New Board Member Mr C.P. Peltzer appointed

20/09/2014

Annual Returns

10/03/2014

New Accounts Filed

10/03/2014

New Accounts Filed

18/11/2013

Ms J. Roth has left the board

18/11/2013

New Board Member Mr L.B. Mrema appointed

20/09/2013

Annual Returns

20/05/2013

New Board Member Mr S.J. Hamilton appointed

13/05/2013

Mr J.C. Reynolds has left the board

13/05/2013

New Board Member Mr S.J. Hamilton appointed

19/12/2012

New Accounts Filed

19/12/2012

New Accounts Filed

 

 

Group Structure

 

Company Name

Registered Number

Latest Key Financials

Consol. Accounts

Turnover

 CARGILL INC

 

-

-

 

 BLACK RIVER ASSET MANA...

 

-

-

$718,000

 BLACK RIVER ASSET MA...

04866660

31.05.2014

N

£12,564,024

 CARGILL FINANCIAL SERV...

06263287

31.05.2014

N

£2,137,056

 CARGILL FOOD SYSTEMS L...

04988211

31.05.2013

N

 

 CARGILL HOLDINGS

00986532

31.05.2014

N

 

 GREEN HERCULES TRADI...

06236632

31.05.2013

N

 

 CARGILL FINANCIAL MA...

02496185

31.05.2014

N

£2,499

 CARGILL FINANCE LI...

02671799

31.05.2014

N

 

 ENDON EUROPE POWER...

03676389

31.05.2014

N

 

 ENDON EUROPE POWE...

03618551

31.05.2014

N

 

 ENDON EUROPE PO...

03618549

31.05.2014

N

 

 ENDON EUROPE...

03576574

31.05.2014

N

 

 TEESSIDE PO...

02901888

31.05.2014

N

 

 TPL INVES...

06567437

31.05.2011

N

 

 EEP SEVEN L...

08504391

31.05.2014

N

 

 ENDON EUROPE POWE...

03688800

31.05.2014

N

 

 CARGILL GLOBAL FUNDI...

02857033

31.05.2014

N

£29,786,383

 CARGILL INVESTMENTS...

03577241

31.05.2014

N

 

 CARGILL INVESTMENTS

03020786

31.05.2014

N

£1,324,963

 WOLVERTON PROPERT...

04547692

31.05.2013

N

£20,612

 CFM II LIMITED

02856228

31.05.2014

N

 

 CARGILL PROPERTY...

04780598

31.05.2014

N

£12,000

 FAIRMILE PORTFOLI...

02892770

31.05.2014

N

£38,731

 THE FAIRMILE LI...

LP008172

31.05.2005

N

 

 WHBE LIMITED

04202057

31.05.2014

N

£500

 CARGILL PORTFOL...

04364934

31.05.2013

N

 

 WOX LIMITED

04448089

31.05.2014

N

£500

 CRY LIMITED

04499180

31.05.2014

N

£500

 CTY LIMITED

04618673

31.05.2014

N

£500

 CATX LIMITED

04087172

31.05.2014

N

£500

 CREDIT FINANCE...

03261142

31.05.2014

N

£500

 FININ LIMITED

03487655

31.05.2014

N

£500

 MIROM LIMITED

03817328

31.05.2014

N

£500

 MIROMESNIL LIMITED

03695808

31.05.2014

N

£500

 PLATFORM FINANC...

02334932

31.05.2014

N

£500

 TRANSALP LIMITED

04137977

31.05.2014

N

£500

 UHR LIMITED

03735337

31.05.2014

N

£500

 CARGILL INTEGRA (IRELA...

IE355176

31.05.2013

N

 

 CARGILL INTERNATIONAL...

N/A

-

-

 

 CARGILL FUNDING IREL...

IE484215

31.05.2014

N

€29,266,000

 CARGILL INTERNATIONAL...

N/A

-

-

 

 CARGILL FINANCE IREL...

IE484214

31.05.2014

N

 

 CARGILL INTERNATIONAL...

IE906373

-

N

 

 CARGILL UK HOLDINGS...

07203317

31.05.2014

N

 

 CARGILL GLOBAL TRA...

08047375

31.05.2013

N

£30,265

 CARGILL PLC

01387437

31.05.2014

N

£1,222,630,000

 CARGILL POULTRY L...

00170526

31.05.2014

N

£810,000

 CARGILL FOODS LIM...

00222999

31.05.2014

N

£1,151,000

 CARGILL PENSION T...

01637038

31.05.2014

N

 

 CARGILL COTTON LI...

05564843

31.05.2014

N

£385,335,000

 SEARA UK LIMITED

07033774

31.05.2014

N

 

 BANKS CARGILL AGR...

04147351

31.05.2014

N

 

 BRITISH COTTON GR...

01040216

31.05.2014

N

 

 CARGILL INTEGRA (...

04299360

31.05.2014

N

£862,000

 CHICKENS 'R' US L...

03113537

31.05.2014

N

£928,000

 FREEMANS OF NEWEN...

01752859

31.05.2014

N

 

 FREEMANS OF NEW...

00745426

31.05.2014

N

£45,328,882

 LOWESMOOR FOODS L...

03113684

31.05.2014

N

£1,426,000

 MEADOWFIELDS LIMITED

03113549

31.05.2014

N

£745,000

 SUN VALLEY FOODS...

00678294

31.05.2014

N

£466,283,000

 SUN VALLEY POULTR...

00040149

31.05.2014

N

£2,365,000

 THAI FOODS LIMITED

03113543

31.05.2014

N

£1,515,000

 CARGILL TARIM VE GIDA...

N/A

-

-

 

 EAST MEDITERRANEAN T...

03656234

31.05.2013

N

£1,662,228

 CARVAL INVESTORS LUXEM...

B117261

31.05.2013

N

 

 CARVAL INVESTORS UK...

05863476

31.05.2014

N

£7,430,436

 CERESTAR HOLDING B.V.

21014840

31.05.2012

N

 

 LACROSSE GLOBAL FUND S...

 

-

-

 

 CARGILL THE NETHERLAND...

24131527

31.05.2013

N

 

 PROVIMI IRELAND

IE086655

31.05.2013

N

€19,588,182

 

 

Previous director/company secretaries

 

Name

Current Directorships

Previous Directorships

John Christopher Reynolds

1

62

Andrew Neil Thomas

2

2

Andrew Stephen Hursthouse

1

2

Paul Kinney

0

4

Colin Richard Iles

0

1

Josephine Roth

0

1

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.59

UK Pound

1

Rs.92.46

Euro

1

Rs.67.51

 

 

INFORMATION DETAILS

 

Analysis Done by :

RAS

 

 

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%)

 

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.