|
Report No. : |
309172 |
|
Report Date : |
25.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
NEOMED SRL |
|
|
|
|
Registered Office : |
Horea 1, 410080
Oradea Bihor |
|
|
|
|
Country : |
Romania |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
16.08.1996 |
|
|
|
|
Com. Reg. No.: |
J05/1081/1996 |
|
|
|
|
Legal Form : |
Private Limited
Company |
|
|
|
|
Line of Business : |
Subject is wholesale of
pharmaceutical goods |
|
|
|
|
No. of Employee : |
14 (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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Romania |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
ROMANIA - ECONOMIC OVERVIEW
Romania, which joined the EU on 1 January 2007, began the transition from Communism in 1989 with a largely obsolete industrial base and a pattern of output unsuited to the country's needs. The country emerged in 2000 from a punishing three-year recession due to strong demand in EU export markets. Domestic consumption and investment fueled strong GDP growth, but led to large current account imbalances. Romania's macroeconomic gains have only recently started to spur creation of a middle class and to address Romania's widespread poverty. Corruption and red tape continue to permeate the business environment. As a result of the global financial crisis, Romania signed on to a $26 billion emergency assistance package from the IMF, the EU, and other international lenders. GDP contracted from 2009 to 2011. In March 2011, Romania and the IMF/EU/World Bank signed a 24-month precautionary stand-by agreement, worth $6.6 billion, to promote fiscal discipline, encourage progress on structural reforms, and strengthen financial sector stability. In September 2013, the Romanian authorities and the IMF/EU agreed to a follow-on stand-by agreement, worth $5.4 billion, to continue with reforms, although Bucharest announced that it does not intend to draw funds under the agreement. Economic growth accelerated in 2013, driven by strong industrial exports and an excellent agricultural harvest; in December 2013 inflation dropped to a historical low annual rate of 1.6%; and the current account deficit was reduced substantially. Yet, progress on structural reforms is uneven and the economy still is vulnerable to shocks.
|
Source
: CIA |
|
NEOMED SRL |
Telephone |
+40 723 258458 |
|
|
|
+40 259 435571 |
|
|
|
+40 259 476818 |
|
Horea 1 |
Fax |
+40 259 476818 |
|
410080 Oradea
Bihor |
E-mail |
info@neomed.ro |
|
Romania |
WEB |
http://neomed.ro |
|
Crefo No. |
297435 |
Registration No. |
J05/1081/1996 |
|
Tax No. |
RO 8728108 |
Status |
Active |
Economic
situation
|
|||
|
Business connection |
Business
connections appear permissible |
(31) |
|
|
Payment behaviour |
No complaints, but
occasional delays |
(31) |
|
Legal form
Private Limited
Company
Registration and changes
Established on
16.08.1996 as Neomed Srl Private Limited Company
Owners and Capital
|
Name / Address /
Nationality |
From |
Share |
|
Pantea Valentin
Ciprian (birth date 16/11/1967) |
15/08/1996 |
100,000000 % |
|
MUNICIPIUL ORADEA,
Romania |
|
|
|
Romanian |
|
|
|
Registered capital |
|
|
Currency |
Value |
|
RON |
200 |
|
Management |
|
|
|
Name / Address /
Status |
Since |
Position |
|
Pantea Valentin
Ciprian (birth date 16/11/1967) |
15/08/1996 |
Administrator |
Business
activities
|
|
|
|
Main activity |
|
Nace |
|
Wholesale of
pharmaceutical goods |
|
4646 |
|
Legal office and working
spaces at the above mentioned address. |
|
|
|
Economic data |
|
|
|
Turnover and Employees |
|
|
|
Date |
Turnover |
Employees |
|
31.12.2013 |
10.375.517 RON |
14 |
|
31.12.2012 |
9.467.689 RON |
13 |
|
31.12.2011 |
5.026.484 RON |
9 |
|
31.12.2010 |
2.998.014 RON |
8 |
|
31.12.2009 |
2.857.502 RON |
7 |
|
31.12.2008 |
2.685.937 RON |
7 |
|
31.12.2007 |
1.844.658 RON |
4 |
|
31.12.2006 |
956.418 RON |
8 |
|
31.12.2005 |
891.810 RON |
9 |
|
31.12.2004 |
644.088,8 RON |
10 |
|
31.12.2003 |
1.019.235,8 RON |
12 |
|
31.12.2002 |
419.252,1 RON |
7 |
|
31.12.2001 |
979.131 RON |
8 |
Properties
According to the
Balance Sheet of 31.12.2013 date the company holds real estates with a book value
of 654.055,00 RON, but we do not have any other details on the type and
location of these assets.
Banks
|
Financial
Institution |
Branch |
|
Banca Comerciala
Romana |
Oradea |
|
Banca Romana de Dezvoltare
Groupe Societe Generale |
Oradea |
|
Banca Transilvania
S.a. |
Oradea |
The subject is
registered in the Electronic Archive for Secured Transactions, as having
credits at:
- Banca Comerciala Romana, Oradea
- Banca Romana de Dezvoltare
Groupe Societe Generale, Oradea
- Banca Transilvania
S.a., Oradea
These credits are
guaranteed with cash-flow.
Payment experience and credit opinion
|
Maximum credit
limit |
20.000 |
(EUR) |
|
Business
connection |
Business
connections appear permissible |
(31) |
|
Payment behaviour |
No complaints, but
occasional delays |
(31) |
Negative events
According to the
information registered at the Ministry of Finance, the company has no overdue debts
to the State budget as of 31.12.2014.
The company
is recorded at the Payment
Incidents Bureau (CIP)
with 2 incidents
(in 26.03.2013 and
11.12.2013) related to promissory note in the period 20.02.2008 -
20.02.2014.
There are no related
to the subject company in our debt collection department.
There are no related
to the subject company at the Insolvency Proceedings Bulletin.
The subject company
is not registered with legal proceedings opened against it, according to Court Portal.
Assets
|
|
|
31/12/2011 |
31/12/2012 |
31/12/2013 |
|
Name |
Ref. |
RON |
RON |
RON |
|
|
|
SHORT |
SHORT |
SHORT |
|
INTANGIBLE FIXED
ASSETS |
r1 |
60 |
0 |
0 |
|
TANGIBLE FIXED
ASSETS |
r2 |
349.005 |
323.662 |
736.351 |
|
CAPITAL ASSETS |
r3 |
100 |
100 |
100 |
|
FIXED ASSETS -
TOTAL |
r4 |
349.165 |
323.762 |
736.451 |
|
INVENTORIES |
r5 |
967.023 |
1.434.258 |
2.086.557 |
|
RECEIVABLES |
r6 |
1.699.654 |
4.059.614 |
1.399.836 |
|
SHORT-TERM
INVESTMENTS |
r7 |
0 |
0 |
0 |
|
PETTY CASH AND
BANK ACCOUNTS |
r8 |
576.422 |
264.079 |
1.708.659 |
|
CURRENT ASSETS -
TOTAL |
r9 |
3.243.099 |
5.757.951 |
5.195.052 |
|
PREPAID EXPENSES |
r10 |
0 |
0 |
0 |
|
TOTAL ASSETS |
r11 |
3.592.264 |
6.081.713 |
5.931.503 |
|
Liabilities |
|
|
|
|
|
31/12/2011 |
31/12/2012 |
31/12/2013 |
|
Name |
Ref. |
RON |
RON |
RON |
|
|
|
SHORT |
SHORT |
SHORT |
|
DAT.I: AMOUNTS
THAT MUST BE PAID |
r12 |
1.979.718 |
2.877.745 |
1.118.643 |
|
DURING A PERIOD OF
MAX. ONE YEAR |
|
|
|
|
|
NET CURRENT ASSETS/NET
CURRENT |
r13 |
1.263.381 |
2.880.206 |
4.076.409 |
|
DEBTS |
|
|
|
|
|
TOTAL ASSETS MINUS
CURRENT DEBTS |
r14 |
1.612.546 |
3.203.968 |
4.812.860 |
|
DAT.I: AMOUNTS
THAT MUST BE PAID |
r15 |
261.905 |
132.476 |
413.128 |
|
DURING A PERIOD EXCEEDING
ONE YEAR |
|
|
|
|
|
TOTAL DEBTS |
r16 |
2.241.623 |
3.010.221 |
1.531.771 |
|
PROVISIONS |
r17 |
0 |
0 |
0 |
|
DEFERRED INCOME,
OF WHICH: |
r18 |
0 |
0 |
0 |
|
- grants related
to investments |
r19 |
0 |
0 |
0 |
|
deferred income |
r20 |
0 |
0 |
0 |
|
CAPITAL, of which: |
r21 |
200 |
200 |
200 |
|
subscribed and
paid up capital |
r22 |
200 |
200 |
200 |
|
unpaid subscribed
capital |
r23 |
0 |
0 |
0 |
|
assets and
liabilities (public sector companies) |
r24 |
0 |
0 |
0 |
|
CAPITAL PREMIUM |
r25 |
0 |
0 |
0 |
|
REVALUATION
RESERVES |
r26 |
12.167 |
12.167 |
68.948 |
|
RESERVES |
r27 |
352.314 |
352.314 |
352.314 |
|
Own shares |
r28 |
0 |
0 |
0 |
|
Earnings
associated to own capital instruments |
r29 |
0 |
0 |
0 |
|
Losses associated
to own capital instruments |
r30 |
0 |
0 |
0 |
|
PROFIT OR LOSS
REPORTED Balance account C |
r31 |
493.163 |
596.703 |
2.388.479 |
|
PROFIT OR LOSS
REPORTED Balance account D |
r32 |
0 |
0 |
0 |
|
PROFIT OR LOSS
FINANCIAL YEAR Balance |
r33 |
492.797 |
2.110.108 |
1.589.791 |
|
account C |
|
|
|
|
|
PROFIT OR LOSS
FINANCIAL YEAR Balance |
r34 |
0 |
0 |
0 |
|
account D |
|
|
|
|
|
Profit
distribution |
r35 |
0 |
0 |
0 |
|
SHAREHOLDERS’
EQUITY - TOTAL |
r36 |
1.350.641 |
3.071.492 |
4.399.732 |
|
Public patrimony |
r37 |
0 |
0 |
0 |
|
EQUITY - TOTAL |
r38 |
1.350.641 |
3.071.492 |
4.399.732 |
|
TOTAL LIABILITIES |
r39 |
3.592.264 |
6.081.713 |
5.931.503 |
Profit and Loss Account
|
|
|
31/12/2011 |
31/12/2012 |
31/12/2013 |
|
Name |
Ref. |
RON |
RON |
RON |
|
|
|
SHORT |
SHORT |
SHORT |
|
Net turnover |
r89 |
5.026.484 |
9.467.689 |
10.375.517 |
|
Own work sold |
r90 |
121.874 |
89.751 |
55.168 |
|
|
|
31/12/2011 |
31/12/2012 |
31/12/2013 |
|
Name |
Ref. |
RON |
RON |
RON |
|
|
|
SHORT |
SHORT |
SHORT |
|
Income from the sale
of goods |
r91 |
4.904.610 |
9.377.938 |
10.320.349 |
|
Income from
interests made by leasing |
r92 |
0 |
0 |
0 |
|
Income from grants
related to income |
r93 |
0 |
0 |
0 |
|
corresponding to
net turnover |
|
|
|
|
|
——-Balance account
C |
r94 |
0 |
0 |
0 |
|
Balance account D |
r95 |
0 |
0 |
0 |
|
Production made by
the entity for its own |
r96 |
0 |
0 |
0 |
|
purposes and
capitalized |
|
|
|
|
|
Other operating
income |
r97 |
66.568 |
12.558 |
10.161 |
|
TOTAL OPERATING
INCOME - TOTAL |
r98 |
5.093.052 |
9.480.247 |
10.385.678 |
|
Expenses on raw
materials and consumables |
r99 |
42.038 |
60.874 |
35.602 |
|
Other expenses for
supplies and materials |
r100 |
56.883 |
16.285 |
61.363 |
|
Other outsourced
expenses (electricity and |
r101 |
11.681 |
11.698 |
13.851 |
|
water) |
|
|
|
|
|
Expenses on goods |
r102 |
3.339.201 |
5.757.854 |
6.148.490 |
|
Expenses on
personnel, of which: |
r103 |
160.807 |
194.198 |
459.788 |
|
Salaries and
benefits |
r104 |
127.880 |
149.827 |
364.337 |
|
Insurance and social
security expenses |
r105 |
32.927 |
44.371 |
95.451 |
|
Adjustments of the
value of tangible and |
r106 |
26.302 |
25.403 |
36.320 |
|
intangible fixed
assets |
|
|
|
|
|
Expenses |
r107 |
26.302 |
25.403 |
36.320 |
|
Income |
r108 |
0 |
0 |
0 |
|
Adjustments of the
value of current assets |
r109 |
0 |
0 |
0 |
|
Expenses |
r110 |
0 |
0 |
0 |
|
Income |
r111 |
0 |
0 |
0 |
|
Other operating
expenses |
r112 |
802.029 |
847.102 |
1.503.601 |
|
Expenses on third
party services |
r113 |
775.668 |
810.993 |
1.435.621 |
|
Expenses on other
taxes, duties and similar charges |
r114 |
6.289 |
3.698 |
5.347 |
|
Expenses on
compensations, donations and assigned assets |
r115 |
20.072 |
32.411 |
62.633 |
|
Expenses with refinancing
interest rates of leasing entities |
r116 |
0 |
0 |
0 |
|
Adjustments of
provisions |
r117 |
0 |
0 |
0 |
|
|
|
31/12/2011 |
31/12/2012 |
31/12/2013 |
|
Name |
Ref. |
RON |
RON |
RON |
|
|
|
SHORT |
SHORT |
SHORT |
|
Expenses |
r118 |
0 |
0 |
0 |
|
income |
r119 |
0 |
0 |
0 |
|
OPERATING EXPENSES
- TOTAL |
r120 |
4.438.941 |
6.913.414 |
8.259.015 |
|
- Profit |
r121 |
654.111 |
2.566.833 |
2.126.663 |
|
- Loss |
r122 |
0 |
0 |
0 |
|
Income from
participating interests, of which: |
r123 |
0 |
0 |
0 |
|
income obtained
from subsidiaries |
r124 |
0 |
0 |
0 |
|
Income from other
financial investments and |
r125 |
0 |
0 |
0 |
|
loans which are
part of intangible fixed assets, of |
|
|
|
|
|
which: |
|
|
|
|
|
income obtained
from subsidiaries |
r126 |
0 |
0 |
0 |
|
Income from
interest rates, of which: |
r127 |
154 |
810 |
2.734 |
|
income obtained
from subsidiaries |
r128 |
0 |
0 |
0 |
|
Other financial
income |
r129 |
186.908 |
93.069 |
159.987 |
|
FINANCIAL INCOME -
TOTAL |
r130 |
187.062 |
93.879 |
162.721 |
|
Value adjustments
in respect of capital assets |
r131 |
0 |
0 |
0 |
|
and investments as
current assets |
|
|
|
|
|
Expenses |
r132 |
0 |
0 |
0 |
|
income |
r133 |
0 |
0 |
0 |
|
Interest expenses |
r134 |
34.921 |
38.035 |
67.676 |
|
of which, expenses
in respect of subsidiaries |
r135 |
0 |
0 |
0 |
|
Other financial
expenses |
r136 |
232.861 |
136.969 |
352.545 |
|
FINANCIAL EXPENSES
- TOTAL |
r137 |
267.782 |
175.004 |
420.221 |
|
- Profit |
r138 |
0 |
0 |
0 |
|
- Loss |
r139 |
80.720 |
81.125 |
257.500 |
|
- Profit |
r140 |
573.391 |
2.485.708 |
1.869.163 |
|
- Loss |
r141 |
0 |
0 |
0 |
|
|
|
31/12/2011 |
31/12/2012 |
31/12/2013 |
|
Name |
Ref. |
RON |
RON |
RON |
|
|
|
SHORT |
SHORT |
SHORT |
|
Extraordinary
income |
r142 |
0 |
0 |
0 |
|
Extraordinary
expenses |
r143 |
0 |
0 |
0 |
|
- Profit |
r144 |
0 |
0 |
0 |
|
- Loss |
r145 |
0 |
0 |
0 |
|
TOTAL INCOME |
r146 |
5.280.114 |
9.574.126 |
10.548.399 |
|
TOTAL EXPENSES |
r147 |
4.706.723 |
7.088.418 |
8.679.236 |
|
- Profit |
r148 |
573.391 |
2.485.708 |
1.869.163 |
|
- Loss |
r149 |
0 |
0 |
0 |
|
Income tax |
r150 |
80.594 |
375.600 |
279.372 |
|
Other taxes which
are not recorded above |
r151 |
0 |
0 |
0 |
|
- Net profit |
r152 |
492.797 |
2.110.108 |
1.589.791 |
|
- Net loss |
r153 |
0 |
0 |
0 |
|
Net result |
r154 |
492.797 |
2.110.108 |
1.589.791 |
Additional information
|
|
|
31/12/2011 |
31/12/2012 |
31/12/2013 |
|
Name |
Ref. |
RON |
RON |
RON |
|
|
|
SHORT |
SHORT |
SHORT |
|
Outstanding
payments-total - TOTAL |
r155 |
0 |
588.990 |
0 |
|
Accounts payable
outstanding - total, of which: - |
r156 |
0 |
0 |
0 |
|
TOTAL |
|
|
|
|
|
over 30 days -
TOTAL |
r157 |
N/A |
0 |
0 |
|
over 90 days -
TOTAL |
r158 |
N/A |
0 |
0 |
|
over 1 year -
TOTAL |
r159 |
N/A |
0 |
0 |
|
Outstanding payments
to social security- total, of which: - TOTAL |
r160 |
0 |
5.546 |
0 |
|
contributions to
social security payable by employers, employees and other assimilated
entities - TOTAL |
r161 |
0 |
4.062 |
0 |
|
contributions to the
social health insurance fund - TOTAL |
r162 |
0 |
1.384 |
0 |
|
|
|
31/12/2011 |
31/12/2012 |
31/12/2013 |
|
Name |
Ref. |
RON |
RON |
RON |
|
|
|
SHORT |
SHORT |
SHORT |
|
contribution to
the additional state pension |
r163 |
0 |
100 |
0 |
|
system - TOTAL |
|
|
|
|
|
contributions to
the unemployment insurance |
r164 |
0 |
0 |
0 |
|
fund - TOTAL |
|
|
|
|
|
other social
liabilities - TOTAL |
r165 |
0 |
0 |
0 |
|
Payments due to
special funds and other funds - |
r166 |
0 |
0 |
0 |
|
TOTAL |
|
|
|
|
|
Payments due to
other creditors - TOTAL |
r167 |
0 |
0 |
0 |
|
Taxes and fees
unpaid to the public budget on the date due - TOTAL |
r168 |
0 |
583.444 |
0 |
|
Taxes and fees
unpaid to the local budget on the |
r169 |
0 |
0 |
0 |
|
date due - TOTAL |
|
|
|
|
|
Bank credits which
were not reimbursed on the |
r170 |
0 |
0 |
0 |
|
date due - total,
of which: - TOTAL |
|
|
|
|
|
back payments
after 30 days - TOTAL |
r171 |
N/A |
0 |
0 |
|
back payments
after 90 days - TOTAL |
r172 |
N/A |
0 |
0 |
|
back payments
after 1 year - TOTAL |
r173 |
N/A |
0 |
0 |
|
Past due interest
- TOTAL |
r174 |
0 |
0 |
0 |
|
Average number of
employees |
r175 |
9 |
13 |
14 |
Specific tangible fixed assets
|
|
|
31/12/2011 |
31/12/2012 |
31/12/2013 |
|
Name |
Ref. |
RON |
RON |
RON |
|
|
|
SHORT |
SHORT |
SHORT |
|
Lands |
r176 |
0 |
0 |
147.000 |
|
Buildings |
r177 |
331.200 |
331.200 |
507.055 |
|
Technical
installations and machines |
r178 |
93.935 |
93.935 |
203.991 |
|
Amortization |
r179 |
N/A |
N/A |
N/A |
Financial Ratios
|
Name |
Ref. |
31/12/2011 |
31/12/2012 |
31/12/2013 |
|
Debt Ratio |
R1 |
0,62 |
0,49 |
0,26 |
|
Quick ratio |
R2 |
1,15 |
1,50 |
2,78 |
|
Current ratio |
R3 |
1,64 |
2,00 |
4,64 |
|
Solvency ratio |
R4 |
0,19 |
0,04 |
0,09 |
|
Name |
|
Ref. |
31/12/2011 |
31/12/2012 |
31/12/2013 |
|
Return on sales (
ROS ) |
|
R5 |
0,10 |
0,22 |
0,15 |
|
Return on assets (
ROA ) |
|
R6 |
0,14 |
0,35 |
0,27 |
|
Return on equity (
ROE ) |
|
R7 |
0,36 |
0,69 |
0,36 |
|
Operating margin,
in (%) |
|
R8 |
0,13 |
0,27 |
0,20 |
|
Days supply in
inventory |
|
R9 |
70,22 |
55,29 |
73,40 |
|
Days sales in
receivables |
|
R10 |
123,42 |
156,51 |
49,25 |
|
Days purchase in
payables |
|
R11 |
143,76 |
110,94 |
39,35 |
|
SALES TO TOTAL
ASSETS |
|
R12 |
1,40 |
1,56 |
1,75 |
|
OPERATING RESULT
/TOTAL ASSETS |
|
R13 |
0,18 |
0,42 |
0,36 |
|
CASH RATIO |
|
R14 |
0,29 |
0,09 |
1,53 |
|
Equity as % of
total assets |
|
R15 |
37,60 |
50,50 |
74,18 |
|
Fixed assets as %
of total assets |
|
R16 |
9,72 |
5,32 |
12,42 |
|
Receivables as %
of current assets |
|
R17 |
52,41 |
70,50 |
26,95 |
|
Net working
capital |
|
R18 |
598,60 |
730,00 |
1693,60 |
Exchange rate
31/12/2011
USD 1,- = RON 3,05
EUR 1,- = RON 4,24
31/12/2012
USD 1,- = RON 3,47
EUR 1,- = RON 4,46
31/12/2013
USD 1,- = RON 3,33
EUR 1,- = RON 4,42
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.28 |
|
|
1 |
Rs.96.21 |
|
Euro |
1 |
Rs.70.60 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
ASH |
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.