MIRA INFORM REPORT

Report No. :	337441
Report Date :	21.08.2015

IDENTIFICATION DETAILS

Name :	C-RETAIL LIMITED

Registered Office :	Unit 60 The Runnings Cheltenham Gloucestershire GL51 9NW

Country :	United Kingdom

Financials (as on) :	26.04.2014

Date of Incorporation :	28.01.2010

Com. Reg. No.:	07139142

Legal Form :	Private Limited with Share Capital

Line of Business :	Retail Sale of Clothing in Specialised Stores.

No. of Employees :	1401

RATING & COMMENTS

MIRA’s Rating :

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 :	--

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, 2015

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

United Kingdom

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. 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 has been a net importer of energy since 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.

In 2008, 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. Facing burgeoning public deficits and debt levels, in 2010 the CAMERON-led coalition government (between Conservatives and Liberal Democrats) initiated an austerity program, which aimed to lower London's budget deficit from about 11% of GDP in 2010 to nearly 1% by 2015. 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 20% by 2015. However, the deficit still remains one of the highest in the G7, standing at 6.0% in 2014.

In 2012, weak consumer spending and subdued business investment weighed on the economy, however, in 2013 GDP grew 1.7% and in 2014, 2.6%, accelerating unexpectedly because of greater consumer spending and a recovering housing market.

The Bank of England (BoE) implemented an asset purchase program of 375 billion (approximately $586 billion) as of December 2014. 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).

Source : CIA

Company Name and address

Company Name: C-RETAIL LIMITED

Company No: 07139142

Company Status: Active - Accounts Filed

Registered Address: UNIT 60 THE RUNNINGS CHELTENHAM GLOUCESTERSHIRE GL51 9NW

Company Summary

Registered Address UNIT 60 THE RUNNINGS, CHELTENHAM, GLOUCESTERSHIRE, GL51 9NW

Trading Address Unit 60, The Runnings, Cheltenham, Gloucestershire, GL51 9NW

Website Address http://www.supergroup.co.uk

Telephone Number 01242224975

Fax Number --

TPS No

FPS No

Incorporation Date 28/01/2010

Previous Name --

Type Private limited with Share Capital

FTSE Index -

Date of Change -

Filing Date of Accounts 06/12/2014

Currency GBP

Share Capital £2

SIC07 47710

Charity Number -

SIC07 Description RETAIL SALE OF CLOTHING IN SPECIALISED STORES

Principal Activity The operation of Cult and superdry stores in the UK which sells own brand and third party clothing, shoes and accessories.

Key Financials

Year to Date Turnover Pre Tax Profit Shareholder Funds Employees

26/04/2014 £194,543,000 £1,260,000 £67,232,000 1401

28/04/2013 £170,667,000 £590,000 £68,241,000 1380

29/04/2012 £144,199,000 -£21,509,000 £69,936,000 1208

Mortgage Summary

Total Mortgage 1

Outstanding 0

Satisfied 1

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 relatively efficient use of assets.

This company has made late payments on a medium percentage of invoices.

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

This company's bank loans and overdrafts (less cash) account for a high percentage of short term liabilities.

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

CCJ

*Total Number of Exact CCJs -	0	Total Value of Exact CCJs -
Total Number of Possible CCJs -	0	Total Value of Possible CCJs -
Total Number of Satisfied CCJs -	0	Total Value of Satisfied CCJs -
Total Number of Writs -	-

Total Current Directors	3
Total Current Secretaries	0
Total Previous Directors / Company Secretaries	5

Current Directors

Name	Julian Marc Dunkerton	Date of Birth	01/03/1965
Officers Title	Mr	Nationality	British
Present Appointments	12	Function	Director
Appointment Date	12/02/2010
Address	Unit 60 The Runnings, Cheltenham, Gloucestershire, GL51 9NW

Name	Julian Marc Dunkerton	Date of Birth	01/03/1965
Officers Title	Mr	Nationality	British
Present Appointments	1	Function	Director
Appointment Date	12/02/2010
Address	Unit 60 The Runnings, Cheltenham, Gloucestershire, GL51 9NW

Name	Euan Angus Sutherland	Date of Birth	06/02/1969
Officers Title	Mr	Nationality	British
Present Appointments	8	Function	Director
Appointment Date	12/02/2015
Address	Unit 60 The Runnings, Cheltenham, Gloucestershire, GL51 9NW

Top 20 Shareholders

Name	Currency	Share Count	Share Type	Nominal Value	% of Total Share Count
SUPERGROUP PLC	GBP	2	ORDINARY	1	100

Financial

Profit & Loss

	Date Of Accounts	26/04/14	(%)	28/04/13	(%)	29/04/12	(%)	01/05/11	(%)	-
	Weeks	52	(%)	52	(%)	52	(%)	60	(%)	-
	Currency	GBP	(%)	GBP	(%)	GBP	(%)	GBP	(%)	-
	Consolidated A/cs	N	(%)	N	(%)	N	(%)	N	(%)	-
$Description: \\SHRADDHA\Online Foreign Reports\C-RETAIL LIMITED_files\barchart-grey.png$	Turnover	£194,543,000	14%	£170,667,000	18.4%	£144,199,000	18.2%	£121,989,000	-	-
$Description: \\SHRADDHA\Online Foreign Reports\C-RETAIL LIMITED_files\barchart-grey.png$	Export	-	-	-	-	-	-	-	-	-
$Description: \\SHRADDHA\Online Foreign Reports\C-RETAIL LIMITED_files\barchart-grey.png$	Cost of Sales	£63,987,000	8.4%	£59,052,000	11.7%	£52,850,000	29.4%	£40,851,000	-	-
$Description: \\SHRADDHA\Online Foreign Reports\C-RETAIL LIMITED_files\barchart-grey.png$	Gross Profit	£130,556,000	17%	£111,615,000	22.2%	£91,349,000	12.6%	£81,138,000	-	-
$Description: \\SHRADDHA\Online Foreign Reports\C-RETAIL LIMITED_files\barchart-grey.png$	Wages & Salaries	£31,851,000	2%	£31,240,000	12.9%	£27,668,000	35%	£20,498,000	-	-
$Description: \\SHRADDHA\Online Foreign Reports\C-RETAIL LIMITED_files\barchart-grey.png$	Directors Emoluments	-	-	-	-100%	£113,000	-	-	-	-
$Description: \\SHRADDHA\Online Foreign Reports\C-RETAIL LIMITED_files\barchart-grey.png$	Operating Profit	£1,156,000	108.7%	£554,000	102.6%	-£21,518,000	-326.4%	£9,506,000	-	-
$Description: \\SHRADDHA\Online Foreign Reports\C-RETAIL LIMITED_files\barchart-grey.png$	Depreciation	£13,318,000	12.1%	£11,881,000	37.7%	£8,630,000	28.5%	£6,716,000	-	-
$Description: \\SHRADDHA\Online Foreign Reports\C-RETAIL LIMITED_files\barchart-grey.png$	Audit Fees	-	-	-	-	-	-	-	-	-
$Description: \\SHRADDHA\Online Foreign Reports\C-RETAIL LIMITED_files\barchart-grey.png$	Interest Payments	£29,000	-31%	£42,000	999.9%	£1,000	-50%	£2,000	-	-
$Description: \\SHRADDHA\Online Foreign Reports\C-RETAIL LIMITED_files\barchart-grey.png$	Pre Tax Profit	£1,260,000	113.6%	£590,000	102.7%	-£21,509,000	-326.3%	£9,504,000	-	-
$Description: \\SHRADDHA\Online Foreign Reports\C-RETAIL LIMITED_files\barchart-grey.png$	Taxation	-£2,269,000	0.7%	-£2,285,000	-59.2%	-£1,435,000	69%	-£4,624,000	-	-
$Description: \\SHRADDHA\Online Foreign Reports\C-RETAIL LIMITED_files\barchart-grey.png$	Profit After Tax	-£1,009,000	40.5%	-£1,695,000	92.6%	-£22,944,000	-570.2%	£4,880,000	-	-
$Description: \\SHRADDHA\Online Foreign Reports\C-RETAIL LIMITED_files\barchart-grey.png$	Dividends Payable	-	-	-	-	-	-	-	-	-
$Description: \\SHRADDHA\Online Foreign Reports\C-RETAIL LIMITED_files\barchart-grey.png$	Retained Profit	-£1,009,000	40.5%	-£1,695,000	92.6%	-£22,944,000	-570.2%	£4,880,000	-	-

Balance Sheet

	Date Of Accounts	26/04/14	(%)	28/04/13	(%)	29/04/12	(%)	01/05/11	(%)	-
$Description: \\SHRADDHA\Online Foreign Reports\C-RETAIL LIMITED_files\barchart-grey.png$	Tangible Assets	£48,853,000	-1%	£49,365,000	-2.5%	£50,653,000	65.8%	£30,559,000	-	-
$Description: \\SHRADDHA\Online Foreign Reports\C-RETAIL LIMITED_files\barchart-grey.png$	Intangible Assets	£46,917,000	-7.3%	£50,611,000	-7%	£54,407,000	-15.2%	£64,179,000	-	-
$Description: \\SHRADDHA\Online Foreign Reports\C-RETAIL LIMITED_files\barchart-grey.png$	Total Fixed Assets	£95,770,000	-4.2%	£99,976,000	-4.8%	£105,060,000	10.9%	£94,738,000	-	-
$Description: \\SHRADDHA\Online Foreign Reports\C-RETAIL LIMITED_files\barchart-grey.png$	Stock	£49,451,000	2.3%	£48,322,000	38.3%	£34,932,000	5.3%	£33,161,000	-	-
$Description: \\SHRADDHA\Online Foreign Reports\C-RETAIL LIMITED_files\barchart-grey.png$	Trade Debtors	£303,000	-83.7%	£1,862,000	-44.1%	£3,329,000	507.5%	£548,000	-	-
$Description: \\SHRADDHA\Online Foreign Reports\C-RETAIL LIMITED_files\barchart-grey.png$	Cash	£14,952,000	33.2%	£11,227,000	91.4%	£5,866,000	164.4%	£2,219,000	-	-
$Description: \\SHRADDHA\Online Foreign Reports\C-RETAIL LIMITED_files\barchart-grey.png$	Other Debtors	£23,697,000	41.8%	£16,717,000	-1.5%	£16,968,000	40.3%	£12,098,000	-	-
$Description: \\SHRADDHA\Online Foreign Reports\C-RETAIL LIMITED_files\barchart-grey.png$	Miscellaneous Current Assets	0	-	0	-	0	-	0	-	-
$Description: \\SHRADDHA\Online Foreign Reports\C-RETAIL LIMITED_files\barchart-grey.png$	Total Current Assets	£88,403,000	13.2%	£78,128,000	27.9%	£61,095,000	27.2%	£48,026,000	-	-
$Description: \\SHRADDHA\Online Foreign Reports\C-RETAIL LIMITED_files\barchart-grey.png$	Trade Creditors	£22,905,000	10.3%	£20,766,000	-9%	£22,818,000	50%	£15,209,000	-	-
$Description: \\SHRADDHA\Online Foreign Reports\C-RETAIL LIMITED_files\barchart-grey.png$	Bank Loans & Overdrafts	£42,037,000	6.3%	£39,539,000	57.8%	£25,062,000	-	0	-	-
$Description: \\SHRADDHA\Online Foreign Reports\C-RETAIL LIMITED_files\barchart-grey.png$	Other Short Term Finance	£27,571,000	26.3%	£21,824,000	10.7%	£19,720,000	187.8%	£6,852,000	-	-
$Description: \\SHRADDHA\Online Foreign Reports\C-RETAIL LIMITED_files\barchart-grey.png$	Miscellaneous Current Liabilities	£14,191,000	8.9%	£13,027,000	27.7%	£10,203,000	-1.4%	£10,346,000	-	-
$Description: \\SHRADDHA\Online Foreign Reports\C-RETAIL LIMITED_files\barchart-grey.png$	Total Current Liabilities	£106,704,000	12.1%	£95,156,000	22.3%	£77,803,000	140.1%	£32,407,000	-	-
$Description: \\SHRADDHA\Online Foreign Reports\C-RETAIL LIMITED_files\barchart-grey.png$	Bank Loans & Overdrafts and LTL	£52,274,000	-3.6%	£54,246,000	24.8%	£43,478,000	148.8%	£17,477,000	-	-
$Description: \\SHRADDHA\Online Foreign Reports\C-RETAIL LIMITED_files\barchart-grey.png$	Other Long Term Finance	0	-	0	-	0	-	0	-	-
$Description: \\SHRADDHA\Online Foreign Reports\C-RETAIL LIMITED_files\barchart-grey.png$	Total Long Term Liabilities	£10,237,000	-30.4%	£14,707,000	-20.1%	£18,416,000	5.4%	£17,477,000	-	-

Capital & Reserves

	Date Of Accounts	26/04/14	(%)	28/04/13	(%)	29/04/12	(%)	01/05/11	(%)	-
$Description: \\SHRADDHA\Online Foreign Reports\C-RETAIL LIMITED_files\barchart-grey.png$	Called Up Share Capital	-	-	-	-	-	-	-	-	-
$Description: \\SHRADDHA\Online Foreign Reports\C-RETAIL LIMITED_files\barchart-grey.png$	P & L Account Reserve	£67,232,000	-1.5%	£68,241,000	-2.4%	£69,936,000	-24.7%	£92,880,000	-	-
$Description: \\SHRADDHA\Online Foreign Reports\C-RETAIL LIMITED_files\barchart-grey.png$	Revaluation Reserve	-	-	-	-	-	-	-	-	-
$Description: \\SHRADDHA\Online Foreign Reports\C-RETAIL LIMITED_files\barchart-grey.png$	Sundry Reserves	-	-	-	-	-	-	-	-	-
$Description: \\SHRADDHA\Online Foreign Reports\C-RETAIL LIMITED_files\barchart-grey.png$	Shareholder Funds	£67,232,000	-1.5%	£68,241,000	-2.4%	£69,936,000	-24.7%	£92,880,000	-	-

Other Financial Items

	Date Of Accounts	26/04/14	(%)	28/04/13	(%)	29/04/12	(%)	01/05/11	(%)	-
$Description: \\SHRADDHA\Online Foreign Reports\C-RETAIL LIMITED_files\barchart-grey.png$	Net Worth	£20,315,000	15.2%	£17,630,000	13.5%	£15,529,000	-45.9%	£28,701,000	-	-
$Description: \\SHRADDHA\Online Foreign Reports\C-RETAIL LIMITED_files\barchart-grey.png$	Working Capital	-£18,301,000	-7.5%	-£17,028,000	-1.9%	-£16,708,000	-207%	£15,619,000	-	-
$Description: \\SHRADDHA\Online Foreign Reports\C-RETAIL LIMITED_files\barchart-grey.png$	Total Assets	£184,173,000	3.4%	£178,104,000	7.2%	£166,155,000	16.4%	£142,764,000	-	-
$Description: \\SHRADDHA\Online Foreign Reports\C-RETAIL LIMITED_files\barchart-grey.png$	Total Liabilities	£116,941,000	6.4%	£109,863,000	14.2%	£96,219,000	92.9%	£49,884,000	-	-
$Description: \\SHRADDHA\Online Foreign Reports\C-RETAIL LIMITED_files\barchart-grey.png$	Net Assets	£67,232,000	-1.5%	£68,241,000	-2.4%	£69,936,000	-24.7%	£92,880,000	-	-

Cash Flow

	Date Of Accounts	26/04/14	(%)	28/04/13	(%)	29/04/12	(%)	01/05/11	(%)	-
$Description: \\SHRADDHA\Online Foreign Reports\C-RETAIL LIMITED_files\barchart-grey.png$	Net Cashflow from Operations	-	-	-	-	-	-	-	-	-
$Description: \\SHRADDHA\Online Foreign Reports\C-RETAIL LIMITED_files\barchart-grey.png$	Net Cashflow before Financing	-	-	-	-	-	-	-	-	-
$Description: \\SHRADDHA\Online Foreign Reports\C-RETAIL LIMITED_files\barchart-grey.png$	Net Cashflow from Financing	-	-	-	-	-	-	-	-	-
$Description: \\SHRADDHA\Online Foreign Reports\C-RETAIL LIMITED_files\barchart-grey.png$	Increase in Cash	-	-	-	-	-	-	-	-	-

Miscellaneous

	Date Of Accounts	26/04/14	(%)	28/04/13	(%)	29/04/12	(%)	01/05/11	(%)	-
	Contingent Liability	NO	-	NO	-	NO	-	NO	-	-
$Description: \\SHRADDHA\Online Foreign Reports\C-RETAIL LIMITED_files\barchart-grey.png$	Capital Employed	£77,469,000	-6.6%	£82,948,000	-6.1%	£88,352,000	-19.9%	£110,357,000	-	-
$Description: \\SHRADDHA\Online Foreign Reports\C-RETAIL LIMITED_files\barchart-grey.png$	Number of Employees	1401	1.5%	1380	14.2%	1208	38.5%	872	-	-
	Accountants
	Auditors	PRICEWATERHOUSECOOPERS LLP
	Auditor Comments	The audit report contains no adverse comments
	Bankers
	Bank Branch Code

Ratios

	Date Of Accounts	26/04/14	28/04/13	29/04/12	01/05/11	-
$Description: \\SHRADDHA\Online Foreign Reports\C-RETAIL LIMITED_files\barchart-grey.png$	Pre-tax profit margin %	0.65	0.35	-14.92	7.79	-
$Description: \\SHRADDHA\Online Foreign Reports\C-RETAIL LIMITED_files\barchart-grey.png$	Current ratio	0.83	0.82	0.79	1.48	-
$Description: \\SHRADDHA\Online Foreign Reports\C-RETAIL LIMITED_files\barchart-grey.png$	Sales/Net Working Capital	-10.63	-10.02	-8.63	7.81	-
$Description: \\SHRADDHA\Online Foreign Reports\C-RETAIL LIMITED_files\barchart-grey.png$	Gearing %	77.80	79.50	62.20	18.80	-
$Description: \\SHRADDHA\Online Foreign Reports\C-RETAIL LIMITED_files\barchart-grey.png$	Equity in %	49	53.50	62.60	118.20	-
$Description: \\SHRADDHA\Online Foreign Reports\C-RETAIL LIMITED_files\barchart-grey.png$	Creditor Days	42.85	44.28	57.59	52.36	-
$Description: \\SHRADDHA\Online Foreign Reports\C-RETAIL LIMITED_files\barchart-grey.png$	Debtor Days	0.56	3.97	8.40	1.88	-
$Description: \\SHRADDHA\Online Foreign Reports\C-RETAIL LIMITED_files\barchart-grey.png$	Liquidity/Acid Test	0.36	0.31	0.33	0.45	-
$Description: \\SHRADDHA\Online Foreign Reports\C-RETAIL LIMITED_files\barchart-grey.png$	Return On Capital Employed %	1.62	0.71	-24.34	8.61	-
$Description: \\SHRADDHA\Online Foreign Reports\C-RETAIL LIMITED_files\barchart-grey.png$	Return On Total Assets Employed %	0.68	0.33	-12.94	6.65	-
$Description: \\SHRADDHA\Online Foreign Reports\C-RETAIL LIMITED_files\barchart-grey.png$	Current Debt Ratio	1.58	1.39	1.11	0.34	-
$Description: \\SHRADDHA\Online Foreign Reports\C-RETAIL LIMITED_files\barchart-grey.png$	Total Debt Ratio	1.73	1.60	1.37	0.53	-
$Description: \\SHRADDHA\Online Foreign Reports\C-RETAIL LIMITED_files\barchart-grey.png$	Stock Turnover Ratio %	25.41	28.31	24.22	27.18	-
$Description: \\SHRADDHA\Online Foreign Reports\C-RETAIL LIMITED_files\barchart-grey.png$	Return on Net Assets Employed %	1.87	0.86	-30.75	10.23	-

Report Notes

There are no notes to display.

Status History

No Status History found

Event History

Date	Description
02/03/2015	Mr S.S. Wills has left the board
24/02/2015	Ms S.J. Given has left the board
23/02/2015	New Board Member Mr E.A. Sutherland appointed
05/02/2015	Annual Returns
19/12/2014	New Accounts Filed
19/12/2014	New Accounts Filed
24/02/2014	Annual Returns
10/02/2014	New Accounts Filed
10/02/2014	New Accounts Filed
29/10/2013	New Board Member Ms S.J. Given appointed
22/04/2013	Mr L.J. Jordan has left the board
02/02/2013	Annual Returns
24/11/2012	New Accounts Filed
24/11/2012	New Accounts Filed
27/06/2012	New Board Member Mr S.S. Wills appointed

Previous Company Names

No Previous Names found

Writ Details

No writs found

Statistics

Group	9 companies
Linkages	3 companies
Countries	In 2 countries

Summary

Holding Company	SUPERGROUP PLC
Ownership Status	Wholly Owned
Ultimate Holding Company	SUPERGROUP PLC

Group Structure Full

Company Name	Registered Number	Latest Key Financials	Consol. Accounts	Turnover
SUPERGROUP PLC	07063562	26.04.2014	Y	£430,900,000
FRAGRANCES 55 LIMITED	07632091	26.04.2014	N	£166,000
C-RETAIL LIMITED	07139142	26.04.2014	N	£194,543,000
DKH RETAIL LIMITED	07063508	26.04.2014	N	£163,800,000
SUPERGROUP CONCESSIONS...	07139101	26.04.2014	N	£13,302,000
SUPERGROUP INTERNET LI...	07139044	26.04.2014	N	£45,391,000
SUPERGROUP INTERNET...	07751612	26.04.2014	N
SUPERGROUP INTERNATION...	07139168	26.04.2014	N	£7,000
SUPERGROUP RETAIL IREL...	IE480483	26.04.2014	N	€11,180,000

Mortgage Details

Mortgage Type:	DEBENTURE
Date Charge Created:	21/02/10
Date Charge Registered:	04/03/10
Date Charge Satisfied:	12/03/11
Status:	SATISFIED
Person(s) Entitled:	HSBC BANK PLC
Amount Secured:
Details:	FIXED AND FLOATING CHARGE OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE, INCLUDING GOODWILL, BOOKDEBTS, UNCALLED CAPITAL, BUILDINGS, FIXTURES, FIXED PLANT & MACHINERY

Previous Director/Company Secretaries

Name		Current Directorships	Previous Directorships
Diane Rebecca Wendy Savory		9	17
Charles Robert Victor Howes		7	31
Lee James Jordan		1	6
Shaun Simon Wills		0	18
Suzanne Johanne Given		0	1
Average Invoice Value	Ł6465.19
Invoices available	682
Paid	664
Outstanding	18

Trade Payment Data is information that we collect from selected third party partners who send us information about their whole sales ledger.

	Within Terms	0-30 Days	31-60 Days	61-90 Days	91+ Days
Paid	135	333	73	51	72
Outstanding	0	5	4	5	4

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.65.24
UK Pound	1	Rs.102.21
Euro	1	Rs.72.57

INFORMATION DETAILS

Analysis Done by :	KIN

Report Prepared by :	NIT

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.

Name	Number	Latest Key Financials	Turnover
SUPERGROUP NETHERLANDS B.V.	51956381	30.04.2012
SUPERGROUP BELGIUM FINANCE SA	833299680	30.04.2014
SUPERGROUP BELGIUM	833316112	30.04.2014	€2,724,903