|
Report No. : |
353124 |
|
Report Date : |
04.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
COLOMBO FILIPPETTI
S.P.A. |
|
|
|
|
Registered Office : |
Via Gioacchino Rossini, 26 24040 - Casirate D'ADDA (BG) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
03.02.1953 |
|
|
|
|
Legal Form : |
Joint Stock Company with Sole Shareholder |
|
|
|
|
Line of Business : |
General Mechanics |
|
|
|
|
No. of Employees : |
From 111 to 130 |
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Italy |
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
ITALY - ECONOMIC OVERVIEW
Italy has a diversified economy, which is divided into a developed industrial north, dominated by private companies, and a less-developed, highly subsidized, agricultural south, where unemployment is higher. The Italian economy is driven in large part by the manufacture of high-quality consumer goods produced by small and medium-sized enterprises, many of them family-owned. Italy also has a sizable underground economy, which by some estimates accounts for as much as 17% of GDP. These activities are most common within the agriculture, construction, and service sectors. Italy is the third-largest economy in the euro-zone, but its exceptionally high public debt and structural impediments to growth have rendered it vulnerable to scrutiny by financial markets. Public debt has increased steadily since 2007, topping 132% of GDP in 2014, but investor concerns about Italy and the broader euro-zone crisis eased in 2013, bringing down Italy's borrowing costs on sovereign government debt from euro-era. The government still faces pressure from investors and European partners to sustain its efforts to address Italy's long-standing structural impediments to growth, such as labor market inefficiencies and tax evasion. In 2014 economic growth and labor market conditions continued to deteriorate, with overall unemployment rising to 12.2% and youth unemployment around 40%. Italy's GDP is now nearly 10% below its 2007 pre-crisis level.
|
Source
: CIA |
COLOMBO FILIPPETTI
S.P.A.
Via Gioacchino
Rossini, 26
24040 - Casirate d'Adda (BG) -IT-
|
Fiscal
Code |
: |
00214720161 |
|
Legal
Form |
: |
Joint
stock company with sole shareholder |
|
start
of Activities |
: |
03/02/1953 |
|
Equity |
: |
Over
2.582.254 |
|
Turnover
Range |
: |
15.500.000/18.000.000
|
|
Number
of Employees |
: |
from
111 to 130 |
|
Group |
: |
COFIL |
General
mechanics
Legal
Form : Joint stock company with sole shareholder
|
Fiscal
Code : 00214720161 |
|
Foreign
Trade Reg. no. : BG005786 since 14/12/1991 |
|
Foreign
Trade Reg. no. : 005786 of Bergamo since 14/12/1991 |
|
Foreign
Trade Reg. no. : 120697 of Bergamo |
|
Chamber
of Commerce no. : 71728 of Bergamo since 07/07/1953 |
|
Firms'
Register : BG024-3451 of Bergamo since 19/02/1996 |
|
V.A.T.
Code : 00214720161 |
|
Tribunal
Co. Register : 3451 of |
|
Foundation
date |
:
03/02/1953 |
|
|
Establishment
date |
:
03/02/1953 |
|
|
Start
of Activities |
:
03/02/1953 |
|
|
Legal
duration |
:
31/12/2030 |
|
|
Nominal
Capital |
:
1.900.000 |
|
|
Subscribed
Capital |
:
1.900.000 |
|
|
Paid
up Capital |
:
1.900.000 |
|
Legal
mail : |
COFIL@PEC.IT |
|
|
Bettinelli |
Pompilio |
|
|
Born
in Crema |
(CR) |
on
08/04/1953 |
-
Fiscal Code : BTTPPL53D08D142M |
|
|
Residence: |
Kennedy |
,
26/C |
-
26013 |
Crema |
(CR) |
-
IT - |
|
Position |
Since |
Shares
Amount |
%
Ownership |
|
Director |
27/06/2014 |
|
|
Gadda |
Lamberto |
|
|
Born
in Tradate |
(VA) |
on
20/04/1961 |
-
Fiscal Code : GDDLBR61D20L319P |
|
|
Residence: |
Nievo |
,
8 |
-
24030 |
Mozzo |
(BG) |
-
IT - |
|
Position |
Since |
Shares
Amount |
%
Ownership |
|
Auditor |
28/05/2013 |
|
|
Mazzei |
Mauro
Enzo Giuseppe |
|
|
Born
in San Donato di Lecce |
(LE) |
on
25/06/1963 |
-
Fiscal Code : MZZMNZ63H25H826I |
|
|
Residence: |
Rampazzini |
,
5/C |
-
26013 |
Crema |
(CR) |
-
IT - |
|
Position |
Since |
Shares
Amount |
%
Ownership |
|
Procurator |
06/09/2013 |
|
|
No
Prejudicial events are reported |
|
|
No
Protests registered |
|
|
Colombo |
Gian
Franco |
|
|
Born
in Casirate d'Adda |
(BG) |
on
24/11/1950 |
-
Fiscal Code : CLMGFR50S24B971F |
|
|
Residence: |
Borgo
Canale |
-
24100 |
Bergamo |
(BG) |
-
IT - |
|
Position |
Since |
Shares
Amount |
%
Ownership |
|
Attorney
General |
26/06/1981 |
||
|
Director |
27/06/2014 |
||
|
Board
Chairman |
27/06/2014 |
|
|
No
Prejudicial events are reported |
|
|
No
Protests registered |
|
|
Allevi |
Fiorenzo |
|
|
Born
in Casirate d'Adda |
(BG) |
on
02/06/1955 |
-
Fiscal Code : LLVFNZ55H02B971O |
|
|
Residence: |
Petrarca |
,
6 |
-
24040 |
Casirate
d'Adda |
(BG) |
-
IT - |
|
Position |
Since |
Shares
Amount |
%
Ownership |
|
Institor |
12/09/2008 |
||
|
Procurator |
28/07/2015 |
|
|
No
Prejudicial events are reported |
|
|
No
Protests registered |
|
|
Ferri |
Andrea |
|
|
Born
in Calvenzano |
(BG) |
on
07/12/1951 |
-
Fiscal Code : FRRNDR51T07B442J |
|
|
Residence: |
Brassolino |
,
23 |
-
24040 |
Calvenzano |
(BG) |
-
IT - |
|
Position |
Since |
Shares
Amount |
%
Ownership |
|
Procurator |
05/07/2014 |
|
|
No
Prejudicial events are reported |
|
|
No
Protests registered |
|
|
Colombo |
Stefano |
|
|
Born
in Treviglio |
(BG) |
on
16/06/1975 |
-
Fiscal Code : CLMSFN75H16L400Y |
|
|
Residence: |
A.
De Gasperi, |
,
15 |
-
24047 |
Treviglio |
(BG) |
-
IT - |
|
Position |
Since |
Shares
Amount |
%
Ownership |
|
Assistant
board Chairman |
27/06/2014 |
||
|
Director |
27/06/2014 |
|
|
No
Prejudicial events are reported |
|
|
No
Protests registered |
|
|
Inman
S.r.l. |
|
|
: |
Del
Corso |
,
2 |
-
20122 |
Milano |
(MI) |
-
IT - |
|
Position |
Since |
Shares
Amount |
%
Ownership |
|
Sole
partner |
|
|
No
Prejudicial events are reported |
|
|
No
Protests registered |
|
|
Colombo |
Fabrizio |
|
|
Born
in Treviglio |
(BG) |
on
22/10/1978 |
-
Fiscal Code : CLMFRZ78R22L400D |
|
|
Residence: |
Pelagio
Palagi |
,
3 |
-
20129 |
Milano |
(MI) |
-
IT - |
|
Position |
Since |
Shares
Amount |
%
Ownership |
|
Procurator |
06/09/2013 |
|
|
No
Prejudicial events are reported |
|
|
No
Protests registered |
*Checkings
have been performed on a national scale.
In
this module are listed the companies in which members hold or have holded
positions.
|
|
Colombo |
Gian
Franco |
|
Firm's
Style |
Seat |
Fiscal
Code |
Position |
Position
Status |
Firm's
Status |
|
Colombo
Filippetti Torino S.r.l. |
Rivalta
di Torino (TO) - IT - |
05321140013 |
Director |
Active |
Registered |
|
Corigraf
S.r.l. |
Casirate
d'Adda (BG) - IT - |
02617380163 |
Director |
Withdrawn |
Registered |
|
Velomat
S.r.l. |
Casirate
d'Adda (BG) - IT - |
02783980168 |
Director |
- |
Ceased |
|
Fedrici
Giardini S.a.s. Di Fedrici BrunoE C. |
Casirate
d'Adda (BG) - IT - |
02154520163 |
Limited
Partner |
Active |
Registered |
|
Addafin
S.n.c. Di Colombo Pier GiuseppeE C. |
Casirate
d'Adda (BG) - IT - |
01850370162 |
Partner |
- |
Ceased |
|
|
Colombo |
Stefano |
|
Firm's
Style |
Seat |
Fiscal
Code |
Position |
Position
Status |
Firm's
Status |
|
Fondazione
Cassa Rurale Di Treviglio |
Treviglio
(BG) - IT - |
93031670164 |
Director |
Active |
Registered |
|
Fondazione
Cassa Rurale Di Treviglio |
Treviglio
(BG) - IT - |
93031670164 |
Assistant
board Chairman |
Active |
Registered |
|
Ceap
S.r.l. |
Casirate
d'Adda (BG) - IT - |
03403920162 |
Sole
Director |
Active |
Registered |
|
Inman
S.r.l. |
Milano
(MI) - IT - |
08045910968 |
Director |
Active |
Registered |
The
indication "REGISTERED" as Firm Status could refer to Firms in
Liquidation, Active, Inactive, etc.
For
more information, in this case, we advise to request further investigations.
Shareholders'
list as at date of data collection:
|
Firm's
Style / Name |
Seat
/ Residence |
Fiscal
Code |
Owned
Shares |
%
Ownership |
|
Inman
S.r.l. |
Milano
- IT - |
08045910968 |
100,00 |
The
Company under review has participations in the following Companies:
|
Firm's
Style |
Seat |
Fiscal
Code |
Owned
Shares Amount |
%
Ownership |
since
|
until
|
Share
Status |
|
Consorzio
Orobie Energia - In Liquidazio ne |
Bergamo
- IT - |
95109920165 |
Active |
In
order to carry out its activities the firm uses the following locations:
|
- |
Legal
and operative seat |
since
06/02/1985 |
|
Gioacchino
Rossini |
,
26 |
-
24040 |
-
Casirate d'Adda |
(BG) |
-
IT - |
|
PHONE |
:
03633251 |
|
FAX |
:
0363325252 |
|
Legal
mail |
:
COFIL@PEC.IT |
|
Employees |
:
128 |
|
Assistants |
:
1 |
|
Fittings
and Equipment for a value of 2.550.000 |
Eur |
|
Stocks
for a value of 7.390.000 |
Eur |
CHANGES
TO THE LEGAL FORM:
|
Former
legal form |
New
legal form |
Changement
Date |
|
Limited
liability company |
Joint
stock company |
CEASINGS/INCORPORATIONS/MERGES:
|
|
Splitting-up
and setting-up of a new company |
|
COALPHA S.R.L. |
|
|
,
Casirate D'adda |
-
IT - |
|
|
Fiscal
Code: 03850840160 |
|
|
Date
|
Splitting-up:
|
30/07/2012 |
Protests
checking on the subject firm has given a negative result.
Search
performed on a National Scale
|
|
Prejudicial
Events Search Result: NEGATIVE |
Search
performed on a specialized data base.
None
reported, standing to the latest received edition of the Official Publications.
Company's
starting of activities dates back to 1953.
The
analysis is based on the latest 3 balance sheets.
In
the economic management , good and bad results followed on by turns. ; in the
last financial year a loss was registered (r.o.e. -11,75%) Business volume is
falling in the last financial year.
The
operating result was positive in the last financial year (0,96%) and in line
with the sector's average.
The
operating result is positive and amounts to Eur. 175.571 showing a downwards
trend equal to -88,35% if compared to the value of the financial year 2013.
The
gross operating margin of the latest financial year is of Eur. 737.767 showing
a downward trend as opposed to the previous year.
The
analysis shows a fair financial position as the indebtedness volume is
acceptable (1,36) yet on the increase as against the previous accounting
period.
The
equity capital is equal to Eur. 6.236.699 on stable levels.
Total
indebtedness amounts to Eur. 9.721.640, on the same levels as the year before.
Financial
debts exposure is under control while the recourse to commercial credit is
rather frequent anyway better than the field's average.
Liquidity
is good (1,59)
Trade
credits are collected slowly, average term is 110,5 days. , as it normally
happens in the sector.
The
financial management generated a negative cash flow (Eur. -170.354).
In
the last financial year labour cost was of Eur. 6.784.256, with a 41,83%
incidence on total costs of production. , with a 42,46% incidence on turnover.
The
incidence of the financial charges is of -0,95% on the sales amount.
|
|
Complete
balance-sheet for the year |
al
31/12/2014 |
(in
Eur |
x
1) |
|
Item
Type |
Value |
|
Sales |
15.978.982 |
|
Profit
(Loss) for the period |
-732.550 |
|
|
Complete
balance-sheet for the year |
al
31/12/2013 |
(in
Eur |
x
1) |
|
Item
Type |
Value |
|
Sales |
17.866.988 |
|
Profit
(Loss) for the period |
953.431 |
|
|
Complete
balance-sheet for the year |
al
31/12/2012 |
(in
Eur |
x
1) |
|
Item
Type |
Value |
|
Sales |
18.137.684 |
|
Profit
(Loss) for the period |
-969.225 |
|
|
Complete
balance-sheet for the year |
al
31/12/2011 |
(in
Eur |
x
1) |
|
Item
Type |
Value |
|
Sales |
17.486.817 |
|
Profit
(Loss) for the period |
41.781 |
|
|
Complete
balance-sheet for the year |
al
31/12/2010 |
(in
Eur |
x
1) |
|
Item
Type |
Value |
|
Sales |
13.274.178 |
|
Profit
(Loss) for the period |
-177.328 |
From
our constant monitoring of the relevant Public Administration offices, no more
recent balance sheets result to have been filed.
|
-
Balance Sheet as at 31/12/2014 - 12 Mesi - Currency: - Amounts x 1 |
|
-
Balance Sheet as at 31/12/2013 - 12 Mesi - Currency: - Amounts x 1 |
|
-
Balance Sheet as at 31/12/2012 - 12 Mesi - Currency: - Amounts x 1 |
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
RATIOS |
Value
Type |
as
at 31/12/2014 |
as
at 31/12/2013 |
as
at 31/12/2012 |
Sector
Average |
|
COMPOSITION
ON INVESTMENT |
|||||
|
Rigidity
Ratio |
Units |
0,15 |
0,15 |
0,13 |
0,24 |
|
Elasticity
Ratio |
Units |
0,84 |
0,85 |
0,87 |
0,73 |
|
Availability
of stock |
Units |
0,40 |
0,39 |
0,41 |
0,13 |
|
Total
Liquidity Ratio |
Units |
0,44 |
0,45 |
0,46 |
0,54 |
|
Quick
Ratio |
Units |
0,07 |
0,07 |
0,05 |
0,03 |
|
COMPOSITION
ON SOURCE |
|||||
|
Net
Short-term indebtedness |
Units |
1,36 |
0,92 |
0,88 |
3,02 |
|
Self
Financing Ratio |
Units |
0,34 |
0,36 |
0,34 |
0,19 |
|
Capital
protection Ratio |
Units |
0,81 |
0,59 |
0,85 |
0,67 |
|
Liabilities
consolidation quotient |
Units |
0,19 |
0,49 |
0,75 |
0,21 |
|
Financing |
Units |
1,56 |
1,37 |
1,47 |
3,82 |
|
Permanent
Indebtedness Ratio |
Units |
0,44 |
0,56 |
0,60 |
0,37 |
|
M/L
term Debts Ratio |
Units |
0,10 |
0,20 |
0,26 |
0,12 |
|
Net
Financial Indebtedness Ratio |
Units |
0,77 |
0,48 |
0,63 |
0,54 |
|
CORRELATION |
|||||
|
Fixed
assets ratio |
Units |
2,88 |
3,75 |
4,71 |
1,36 |
|
Current
ratio |
Units |
1,59 |
2,10 |
2,52 |
1,15 |
|
Acid
Test Ratio-Liquidity Ratio |
Units |
0,83 |
1,13 |
1,33 |
0,90 |
|
Structure's
primary quotient |
Units |
2,22 |
2,44 |
2,66 |
0,80 |
|
Treasury's
primary quotient |
Units |
0,13 |
0,17 |
0,14 |
0,05 |
|
Rate
of indebtedness ( Leverage ) |
% |
294,68 |
274,71 |
296,09 |
522,79 |
|
Current
Capital ( net ) |
Value |
5.713.295 |
8.505.195 |
9.348.794 |
137.035 |
|
RETURN |
|||||
|
Return
on Sales |
% |
-1,07 |
8,49 |
-1,88 |
4,19 |
|
Return
on Equity - Net- ( R.O.E. ) |
% |
-11,75 |
13,68 |
-16,11 |
6,82 |
|
Return
on Equity - Gross - ( R.O.E. ) |
% |
-10,08 |
21,36 |
-19,17 |
21,82 |
|
Return
on Investment ( R.O.I. ) |
% |
0,96 |
7,88 |
9,17 |
5,32 |
|
Return/
Sales |
% |
1,10 |
8,44 |
9,00 |
4,80 |
|
Extra
Management revenues/charges incid. |
% |
-417,24 |
63,23 |
-59,36 |
24,34 |
|
Cash
Flow |
Value |
-170.354 |
1.516.537 |
-340.934 |
122.584 |
|
Operating
Profit |
Value |
175.571 |
1.507.865 |
1.632.709 |
134.039 |
|
Gross
Operating Margin |
Value |
737.767 |
2.070.971 |
2.261.000 |
232.049 |
|
MANAGEMENT |
|||||
|
Credits
to clients average term |
Days |
110,50 |
106,61 |
104,48 |
113,47 |
|
Debts
to suppliers average term |
Days |
95,83 |
153,42 |
124,12 |
128,87 |
|
Average
stock waiting period |
Days |
166,48 |
151,88 |
145,29 |
41,22 |
|
Rate
of capital employed return ( Turnover ) |
Units |
0,87 |
0,93 |
1,02 |
1,15 |
|
Rate
of stock return |
Units |
2,16 |
2,37 |
2,48 |
8,63 |
|
Labour
cost incidence |
% |
42,46 |
38,45 |
38,68 |
23,26 |
|
Net
financial revenues/ charges incidence |
% |
-0,95 |
-0,06 |
-0,73 |
-1,36 |
|
Labour
cost on purchasing expenses |
% |
41,83 |
40,37 |
41,56 |
23,52 |
|
Short-term
financing charges |
% |
2,05 |
1,72 |
1,64 |
2,74 |
|
Capital
on hand |
% |
115,02 |
107,15 |
98,21 |
87,13 |
|
Sales
pro employee |
Value |
75.372 |
83.490 |
82.820 |
150.278 |
|
Labour
cost pro employee |
Value |
32.001 |
32.104 |
32.036 |
33.017 |
1) Protests checking (relative to the last
five years) performed by crossing and matching the members names and the Firm's
Style with the reported addresses, is supplied by the Informatic Registry
managed by the Italian Chamber of Commerce. If the fiscal code is not
indicated, the eventual homonymous cases are submitted to expert staff
evaluation in order to limit wrong matching risks.
2) The Legal Data, supplied and retrived from
the Firm's Registry of the Italian Chamber of Commerce, are in line with the
last registered modifications.
3) Risk evaluation and Credit Opinion have
been performed on the base of the actual data at the moment of their
availability.
|
Population
living in the province |
:
|
1.022.428 |
|
Population
living in the region |
:
|
9.393.092 |
|
Number
of families in the region |
:
|
3.858.736 |
Monthly
family expences average in the region (in Eur..) :
|
-
per food products |
:
|
460 |
|
-
per non food products |
:
|
2.090 |
|
-
per energy consume |
:
|
114 |
The
values are calculated on a base of 3.083 significant companies.
The
companies cash their credits on an average of 113 dd.
The
average duration of suppliers debts is about 129 dd.
The
sector's profitability is on an average of 4,19%.
The
labour cost affects the turnover in the measure of 23,26%.
Goods
are held in stock in a range of 41 dd.
The
difference between the sales volume and the resources used to realize it is
about 1,15.
The
employees costs represent the 23,52% of the production costs.
Statistcally
the trade activity shows periods of crisis.
The
area is statistically considered lowly risky.
In
the region 50.886 protested subjects are found; in the province they count to
4.150.
The
insolvency index for the region is 0,55, , while for the province it is 0,41.
Total
Bankrupt companies in the province : 4.376.
Total
Bankrupt companies in the region : 39.612.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.75 |
|
|
1 |
Rs.99.61 |
|
Euro |
1 |
Rs.70.67 |
|
ITL |
1 |
Rs.72.65 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
TRI |
|
|
|
|
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%)
This report is issued at your request without any risk
and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its
officials.