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Report No. : |
301997 |
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Report Date : |
08.01.2015 |
IDENTIFICATION DETAILS
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Correct Name : |
G. MCKENZIE & CO ESTD. (1919) LIMITED |
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Registered Office : |
23a Lyttelton Road, Hampstead Garden Suburb, London, N2 0dn |
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Country : |
United Kingdom |
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Financials (as on) : |
30.06.2013 |
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Date of Incorporation : |
07.06.1996 |
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Com. Reg. No.: |
03209675 |
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Legal Form : |
Private Limited With Share Capital |
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Line of Business : |
Wholesaler of Silver Jewellery [We tried to confirm / obtain the detailed activity but the same is not available from any sources.] |
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No of Employees : |
20-30 Employees |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
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United Kingdom |
a1 |
a1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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.
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Source : CIA |
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G. MCKENZIE & CO ESTD. (1919) LIMITED |
Telephone |
02084832828 |
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Trading Name :
G MCKENZIE & CO |
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23A LYTTELTON ROAD |
Fax |
02083431061 |
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HAMPSTEAD GARDEN SUBURB |
Website |
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LONDON |
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N2 0DN |
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United Kingdom |
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Company Number: Foundation: |
03209675 07/06/1996 |
Status: |
Active - Accounts Filed |
No exact match CCJs are recorded
against the company. Net Worth increased
by 2.5% during the latest trading period. A
12.6% decline in Total Assets occurred
during the latest trading
period. The company saw a decrease in their Cash Balance of 33.3% during
the latest trading period.
The movement in accumulated earnings
would indicate that the company
incurred a loss after tax and other appropriations, including dividends.
There is insufficient data to indicate a change in this company’s percentage of sales. There is insufficient data to indicate a change in this company’s pre-tax profit. The company is exempt from audit. The company has undergone recent changes in its directorships. The company is not part of a group. The company was established over 18 years ago.
Legal form
Private limited with Share Capital
Foundation
07/06/1996
Company No.
03209675
Shareholders
|
Name |
Currency |
Number of shares |
Share type |
Nominal value |
|
MR LOKNATH
AGARWALLA |
GBP |
1 |
ORDINARY |
1 |
|
MR RAJIV
AGARWALLA |
GBP |
1 |
ORDINARY |
1 |
|
MRS POONAM
AGARWALLA |
GBP |
1 |
ORDINARY |
1 |
|
Total Share Capital GBP 3 |
||||
Management
|
Directors |
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Name |
Address: |
Date of birth |
Nationality |
Appointment date |
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Mr Loknath Agarwalla |
5 Harford Walk, London N2 0JB |
28/12/1948 |
British |
20/09/2002 |
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Mrs. Poonam Agarwalla |
5 Harford Walk, London N2 0JB |
01/02/1958 |
British |
09/02/2006 |
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Mr Rajiv Agarwalla |
9 The Causeway, London N2 0PR |
21/12/1980 |
British |
01/07/2008 |
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Company
Secretary |
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Name |
Address: |
Appointment date |
|
Mrs. Poonam Agarwalla |
5 Harford Walk, London
N2 0JB |
20/09/2002 |
Other Known Addresses
23A Lyttelton
Road, Hampstead Garden
Suburb, London N2 0DN
7 Shakespeare Road, London, London N3 1XE
Main Activity
|
Principal Activity |
Wholesaler of Silver Jewellery |
Auditor Name
VSP LIMITED
Date action
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29/03/2010 |
Mr R. Agarwalla has left the board |
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30/03/2010 |
New Board Member Mr R. Agarwalla appointed |
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26/04/2010 |
New Accounts Filed |
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18/08/2010 |
Annual Returns |
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08/03/2011 |
New Accounts Filed |
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24/08/2011 |
Change of Company Postcode |
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26/08/2011 |
Annual Returns |
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06/04/2012 |
New Accounts Filed |
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24/08/2012 |
Annual Returns |
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11/04/2013 |
New Accounts Filed |
|
03/07/2013 |
Annual Returns |
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11/04/2014 |
New Accounts Filed |
|
27/08/2014 |
Annual Returns |
|
05/09/2014 |
New Board Member Mr R. Agarwalla appointed |
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Charge created |
20/07/2006 |
|
Charge registered |
03/08/2006 |
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Status |
SATISFIED |
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Entitled person |
NATIONAL WESTMINSTER BANK PLC |
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Mortgage detail |
ALL DEPOSITS NOW AND IN THE FUTURE CREDITED TO ACCOUNT DESIGNA- TION 60614218 WITH THE BANK AND ANY DEPOSIT OR ACCOUNT OFANY OTHER DESCRIPTION OR DESIGNATION WHICH DERIVES IN WHOLE OR IN PART FROM SUCH DEPOSITS OR ACCOUNT |
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Charge created |
24/09/2007 |
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Charge registered |
02/10/2007 |
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Status |
SATISFIED |
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Entitled person |
NATIONAL WESTMINSTER BANK PLC |
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Mortgage detail |
F/H PROPERTY K/A LAND BETWEEN NOS 3 AND11 MORTIMERS LANE FOXTON CAMBRIDGEBY WAY OF FIXED CHARGE THE BENEFIT OF ALL COVENANTS AND RIGHTS CONCERNING THE PROPERTY AND PLANT MACHINERY FIXTURES FIT- TINGS FURNITURE EQUIPMENT IMPLEMENTS ANDUTENSILS THE GOODWILL OF ANY BUSINESS CARRIED ON AT THE PROPERTY AND THE PROCEEDS OF ANY INSURANCE AFFECTING THE PROPERTY OR ASSETS |
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Charge created |
20/02/2008 |
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Charge registered |
28/02/2008 |
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Status |
SATISFIED |
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Entitled person |
RBS IF LIMITED |
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Mortgage detail |
FIXED AND FLOATING CHARGE OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE, INCLUDING GOODWILL, BOOKDEBTS, UN- CALLED CAPITAL, BUILDINGS, FIXTURES, FIXED PLANT AND MACHINERY |
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Charge created |
18/04/2008 |
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Charge registered |
24/04/2008 |
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Status |
OUTSTANDING |
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Entitled person |
BARCLAYS BANK PLC |
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Secured amount |
ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER |
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Mortgage detail |
FIXED AND FLOATING CHARGE OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE, INCLUDING GOODWILL, BOOKDEBTS, UN- CALLED CAPITAL, BUILDINGS, FIXTURES, FIXED PLANT AND MACHINERY |
(CCJs)
There are no County Court Judgments listed against this company
Profit & Loss
|
|
30/06/2013 52 GBP Group: No |
30/06/2012 52 GBP Group: No |
30/06/2011 52 GBP Group: No |
30/06/2010 52 GBP Group: No |
|
Depreciation |
23,516 |
25,300 |
25,300 |
25,300 |
Balance Sheet
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|
30/06/2013 52 GBP Group: No |
30/06/2012 52 GBP Group: No |
30/06/2011 52 GBP Group: No |
30/06/2010 52 GBP Group: No |
|
Tangible Assets |
7,275 |
25,391 |
50,691 |
73,564 |
|
Intangible Assets |
226,875 |
309,375 |
391,875 |
474,375 |
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Total Fixed Assets |
234,150 |
334,766 |
442,566 |
547,939 |
|
Stock |
2,021,179 |
2,197,101 |
2,754,913 |
2,740,249 |
|
Trade Debtors |
314,381 |
311,700 |
825,313 |
889,872 |
|
Cash |
277,408 |
415,734 |
59,053 |
40,469 |
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Other Debtors |
0 |
0 |
0 |
0 |
|
Miscellaneous Current Assets |
0 |
0 |
0 |
0 |
|
Total Current
Assets |
2,612,968 |
2,924,535 |
3,639,279 |
3,670,590 |
|
Trade Creditors |
1,579,835 |
1,831,475 |
1,957,650 |
2,016,897 |
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Bank Loans
and Overdraft |
0 |
0 |
0 |
0 |
|
Other Short Term Finance |
0 |
0 |
0 |
0 |
|
Miscellaneous Current
Liabilities |
0 |
0 |
0 |
0 |
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Total Current
Liabilities |
1,579,835 |
1,831,475 |
1,957,650 |
2,016,897 |
|
Bank Loans
and Overdrafts LTL |
715,839 |
801,801 |
1,531,342 |
1,640,974 |
|
Other Long
Term Finance |
0 |
0 |
0 |
0 |
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Total Long Term Liabilities |
715,839 |
801,801 |
1,531,342 |
1,640,974 |
Capital & Reserves
|
|
30/06/2013 52 GBP Group: No |
30/06/2012 52 GBP Group: No |
30/06/2011 52 GBP Group: No |
30/06/2010 52 GBP Group: No |
|
Called Up Share Capital |
3 |
3 |
3 |
3 |
|
P and L Account Reserve |
551,441 |
626,022 |
592,850 |
560,655 |
|
Revaluation Reserve |
0 |
0 |
0 |
0 |
|
Sundry Reserves |
0 |
0 |
0 |
0 |
|
Shareholders Funds |
551,444 |
626,025 |
592,853 |
560,658 |
Other Financial Items
|
|
30/06/2013 52 GBP Group: No |
30/06/2012 52 GBP Group: No |
30/06/2011 52 GBP Group: No |
30/06/2010 52 GBP Group: No |
|
Net Worth |
324,569 |
316,650 |
200,978 |
86,283 |
|
Working Capital |
1,033,133 |
1,093,060 |
1,681,629 |
1,653,693 |
|
Total Assets |
2,847,118 |
3,259,301 |
4,081,845 |
4,218,529 |
|
Total Liabilities |
2,295,674 |
2,633,276 |
3,488,992 |
3,657,871 |
|
Net Assets |
551,444 |
626,025 |
592,853 |
560,658 |
Cash Flow
|
|
30/06/2013 52 GBP Group: No |
30/06/2012 52 GBP Group: No |
30/06/2011 52 GBP Group: No |
30/06/2010 52 GBP Group: No |
|
Net Cash
Flow from Operations |
0 |
0 |
0 |
0 |
|
Net Cash
Flow before Financing |
0 |
0 |
0 |
0 |
|
Net Cash
Flow from Financing |
0 |
0 |
0 |
0 |
|
Increase in Cash |
-138,326 |
356,681 |
18,584 |
6,944 |
Miscellaneous
|
|
30/06/2013 52 GBP Group: No |
30/06/2012 52 GBP Group: No |
30/06/2011 52 GBP Group: No |
30/06/2010 52 GBP Group: No |
|
Capital Employed |
1,267,283 |
1,427,826 |
2,124,195 |
2,201,632 |
Financial Ratios
|
|
30/06/2013 |
30/06/2012 |
30/06/2011 |
30/06/2010 |
|
Pre Tax Profit Margin |
0.0% |
0.0% |
0.0% |
0.0% |
|
Current Ration |
1.65 |
1.60 |
1.86 |
1.82 |
|
Sales or Net Working Capital |
0.00 |
0.00 |
0.00 |
0.00 |
|
Gearing |
129.81 % |
128.08 % |
258.30 % |
292.69 % |
|
Equity |
21.05 % |
21.22 % |
16.07 % |
14.97 % |
|
Creditor Days |
0.00 |
0.00 |
0.00 |
0.00 |
|
Debtor Days |
0.00 |
0.00 |
0.00 |
0.00 |
|
Liquidity or Acid test |
0.37 |
0.39 |
0.45 |
0.46 |
|
Return on Capital Employed |
0.0% |
0.0% |
0.0% |
0.0% |
|
Return on
Total Assets Employed |
0.0% |
0.0% |
0.0% |
0.0% |
|
Current Debt Ratio |
2.86 % |
2.92 % |
3.30 % |
3.59 % |
|
Total Debt Ratio |
4.16 % |
4.20 % |
5.88 % |
6.52 % |
|
Stock Turnover Ratio |
0.0% |
0.0% |
0.0% |
0.0% |
|
Return on Net Assets
Employed |
0.0% |
0.0% |
0.0% |
0.0% |
Remarks
Only abbreviated financial statement has been filed. In 2012/2013 Post Appropriation Loss amounted to GBP 74,581 (2011/2012
Profit GBP 33,172). The general financial position seems to be in order and the apparent loss was well covered from reserves. Remains to be seen how it further performed in 2013/2014.
Trading address: 7 Shakespeare Road, Finchley Central, London, N3 1XE
Employees: 20-30
Principal Activities: Wholesaler of Silver Jewellery
Bank: Barclays Bank PLC
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.45 |
|
UK Pound |
1 |
Rs.95.99 |
|
Euro |
1 |
Rs.75.28 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
MNL |
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.