MIRA INFORM REPORT
|
Report No. : |
302160 |
|
Report Date : |
10.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
IND.I.A. S.P.A. |
|
|
|
|
Registered Office : |
Via Vicenza, 8/12, 36034 – Malo (VI) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
26.12.1971 |
|
|
|
|
Legal Form : |
Joint stock company |
|
|
|
|
Line of Business : |
Manufacture of products iron, copper and other metals |
|
|
|
|
No. of Employee : |
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 : |
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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
Italy |
A2 |
A2 |
|
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 industrial 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 133% of GDP in 2013, 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 widespread tax evasion. In 2013 economic growth and labor market conditions deteriorated, with growth at -1.8% and unemployment rising to 12.4%, with youth unemployment around 40%. Italy's GDP is now 8% below its 2007 pre-crisis level.
|
Source
: CIA |
Company
name & address
|
Ind.i.a. S.p.a. |
|
Via |
Vicenza, |
8/12 |
|
36034 |
- Malo |
(VI) |
-IT- |
Summary
|
Fiscal Code |
: |
00189160245 |
|
Legal Form |
: |
Joint stock company |
|
start of Activities |
: |
26/12/1971 |
|
Equity |
: |
Over 2.582.254 |
|
Turnover Range |
: |
35.000.000/50.000.000 |
|
Number of Employees |
: |
from 111 to 130 |
Activity
Manufacture of products iron, copper and other metals
Legal
Data
Legal Form : Joint stock company
|
Register of Handcraft firms : 28954 |
|
Register of Handcraft firms : 28954 of Vicenza |
|
Fiscal Code : 00189160245 |
|
Foreign Trade Reg. no. : VI016951 since 19/12/1991 |
|
Foreign Trade Reg. no. : 16951 of Vicenza since 19/12/1991 |
|
Foreign Trade Reg. no. : 016951 of Vicenza since 19/12/1991 |
|
Chamber of Commerce no. : 126410 of Trieste |
|
Chamber of Commerce no. : 265430 of Udine |
|
Chamber of Commerce no. : 114204 of Vicenza since 10/12/1971 |
|
Firms' Register : VI116-5623 of Vicenza since 19/02/1996 |
|
V.A.T. Code : 00189160245 |
|
Tribunal Co. Register : 5623 of |
|
Foundation date |
: 26/11/1971 |
|
|
Establishment date |
: 26/11/1971 |
|
|
Start of Activities |
: 26/12/1971 |
|
|
Legal duration |
: 31/12/2030 |
|
|
Nominal Capital |
: 4.000.000 |
|
|
Subscribed Capital |
: 4.000.000 |
|
|
Paid up Capital |
: 4.000.000 |
Members
|
|
Gonzato |
Bruno |
|
|
Born in Marano Vicentino |
(VI) |
on 21/09/1947 |
- Fiscal Code : GNZBRN47P21E912V |
|
|
Residence: |
San Nicolo' |
, 3 |
- 36015 |
Schio |
(VI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Board Chairman |
14/07/2014 |
||
|
Director |
14/07/2014 |
||
|
Managing Director |
14/07/2014 |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Gonzato |
Francesca |
|
|
Born in Brescia |
(BS) |
on 28/08/1973 |
- Fiscal Code : GNZFNC73M68B157I |
|
|
Residence: |
San Nicolo' |
, 3 |
- 36015 |
Schio |
(VI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Attorney with special power |
04/10/2011 |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Buccio |
Stefania |
|
|
Born in Brescia |
(BS) |
on 25/06/1949 |
- Fiscal Code : BCCSFN49H65B157Y |
|
|
Residence: |
San Nicolo' |
, 3 |
- 36015 |
Schio |
(VI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
14/07/2014 |
||
|
Partner |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Pontini |
Attilio Elia |
|
|
Born in Schio |
(VI) |
on 09/05/1953 |
- Fiscal Code : PNTTLL53E09I531E |
|
|
Residence: |
Dei Boldu' |
, 3 |
- 36015 |
Schio |
(VI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Responsible technician |
14/11/2002 |
|
|
Marchioro |
Piersilvio |
|
|
Born in Monte di Malo |
(VI) |
on 08/09/1966 |
- Fiscal Code : MRCPSL66P08F486C |
|
|
Residence: |
E. Casara |
, 14 |
- 36030 |
Monte di Malo |
(VI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Responsible technician |
28/02/2003 |
Companies
connected to members *
*checking’s have been performed on a national scale.
In this module are listed the companies in which members hold or have
holded positions.
|
|
Gonzato |
Bruno |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Concredit Veneto |
Vicenza (VI) - IT - |
01254960246 |
Board Chairman |
Withdrawn |
Ceased |
|
Fidapi - Consorzio |
Vicenza (VI) - IT - |
95006610240 |
Board Chairman |
Withdrawn |
Ceased |
|
Arteferro Sud S.r.l. |
Monteforte Irpino (AV) - IT - |
07071070630 |
Sole Director |
Withdrawn |
Registered |
|
Consorzio Zona Produttiva Malo Sud S.r.l. |
Marano Vicentino (VI) - IT - |
02626110247 |
Director |
Active |
Registered |
|
Nuova Co.ge.me. S.r.l. |
Casalmaggiore (CR) - IT - |
02866550243 |
Sole Director |
Withdrawn |
Registered |
|
SUMMA DI GONZATO BRUNO E CHIUMENTO GIACINTO S.N.C. |
Schio (VI) - IT - |
00837720242 |
Partner |
Withdrawn |
Registered |
|
Le Forge Societa' Agricola S.r.l. |
Montecchio Precalcino (VI) - IT - |
03110740242 |
Sole 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.
Capital
Shareholders
Shareholders' list as at date of data collection:
|
Firm's Style / Name |
Seat / Residence |
Fiscal Code |
Owned Shares |
% Ownership |
|
Gonzato Bruno |
Schio - IT - |
GNZBRN47P21E912V |
2.400.000 .Eur |
60,00 |
|
Buccio Stefania |
Schio - IT - |
BCCSFN49H65B157Y |
1.600.000 .Eur |
40,00 |
Direct
Participations
The Company under review has participations in the following Companies:
|
Firm's Style |
Seat |
Fiscal Code |
Owned Shares Amount |
% Ownership |
since |
until |
Share Status |
|
Apicaf S.p.a. |
Varese - IT - |
02522640123 |
1 .Eur |
Active |
|||
|
Arteferro Sud S.r.l. |
Monteforte Irpino - IT - |
07071070630 |
84.150 .Eur |
85,00 |
Active |
||
|
Consorzio Zona Produttiva Malo Sud S.r.l . |
Marano Vicentino - IT - |
02626110247 |
3.843 .Eur |
36,96 |
Active |
||
|
Nuova Co.ge.me. S.r.l. |
Casalmaggiore - IT - |
02866550243 |
95.000 .Eur |
95,00 |
Active |
Firm's
location and structure
In order to carry out its activities the firm uses the following
locations:
|
- |
Legal and operative seat |
since 28/06/1989 |
|
Vicenza |
, 8/12 |
- 36034 |
- Malo |
(VI) |
- IT - |
|
PHONE |
: 0445580580 |
|
FAX |
: 0445580874 |
|
- |
Branch |
(Warehouse) |
since 27/03/1996 |
|
Gamba |
, 5 |
- 36030 |
- Monte di Malo |
(VI) |
- IT - |
|
PHONE |
: 0445580580 |
|
FAX |
: 0445602028 |
|
- |
Branch |
(Operating branch) |
since 21/12/2007 |
|
Avtoparkovaya |
, 5 |
- 02121 |
- Kiev |
- IT - |
|
- |
Branch |
(Production engineering department) |
since 07/12/2006 |
|
Padriciano |
, 99 |
- 34100 |
- Trieste |
(TS) |
- IT - |
|
- |
Branch |
(office) |
since 25/09/2006 |
|
Nazionale |
, 46/11 |
- 33010 |
- Tavagnacco |
(UD) |
- IT - |
|
Employees |
: 115 |
|
Assistants |
: 1 |
|
Fittings and Equipment for a value of 1.890.000 |
Eur |
|
Stocks for a value of 15.950.000 |
Eur |
Trade organization: direct or by agents.
The company sells in Italy and abroad.
The firm operates abroad as importer / exporter..
To purchase foreign products the firm uses the following channels :
|
- distributors |
Export represents more than 50% of the global turnover.
Products abroad are placed by :
|
- importers |
|
- its own agents |
|
- its own foreign branches |
|
- direct orders from foreign companies |
|
- joint-ventures with foreign companies |
Import comes generally from the following nations:
|
- Poland |
|
- Italy |
|
- France |
|
- Ireland |
|
- Austria |
|
- Belgium |
|
- Greece |
|
- Hungary |
|
- Bulgaria |
Export is mainly towards:
|
- Poland |
|
- Italy |
|
- France |
|
- Ireland |
|
- Austria |
|
- Belgium |
|
- Greece |
|
- Hungary |
|
- Bulgaria |
Historical
Information and/or Firm's Status
CHANGES TO THE LEGAL FORM:
|
Former legal form |
New legal form |
Changement Date |
|
General partnership |
Limited liability company |
28/06/1989 |
|
Limited liability company |
Joint stock company |
22/10/1996 |
EX-MEMBERS / EX-POSITIONS:
|
|
Gonzato |
Bruno |
|
|
Born in Marano Vicentino |
(VI) |
on 21/09/1947 |
- Fiscal Code : GNZBRN47P21E912V |
|
|
Residence: |
San Nicolo' |
, 3 |
- 36015 |
Schio |
(VI) |
- IT - |
|
Ex-Postions |
|
Sole Director |
|
Chairman |
|
Managing Director |
|
Managing Director |
|
|
Ceriali |
Angelo |
|
|
Born in Brescia |
(BS) |
on 11/07/1938 |
- Fiscal Code : CRLNGL38L11B157E |
|
|
Residence: |
San Vincenzo |
, 14 |
- 36035 |
Marano Vicentino |
(VI) |
- IT - |
|
Ex-Postions |
|
Temporary Auditor |
|
|
Sartori |
Claudio |
|
|
Born in Thiene |
(VI) |
on 14/08/1959 |
- Fiscal Code : SRTCLD59M14L157F |
|
|
Residence: |
Giuseppe Garibaldi |
, 100 |
- 23891 |
Barzano' |
(LC) |
- IT - |
|
Ex-Postions |
|
Temporary Auditor |
|
|
Gonzato |
Francesca |
|
|
Born in Brescia |
(BS) |
on 28/08/1973 |
- Fiscal Code : GNZFNC73M68B157I |
|
|
Residence: |
San Nicolo' |
, 3 |
- 36015 |
Schio |
(VI) |
- IT - |
|
Ex-Postions |
|
Director |
|
|
Buccio |
Stefania |
|
|
Born in Brescia |
(BS) |
on 25/06/1949 |
- Fiscal Code : BCCSFN49H65B157Y |
|
|
Residence: |
San Nicolo' |
, 3 |
- 36015 |
Schio |
(VI) |
- IT - |
|
Ex-Postions |
|
Partner |
|
|
Marchioro |
Luigi |
|
|
Born in Monte Di Malo |
(VI) |
on 26/04/1945 |
- Fiscal Code : MRCLGU45D26F486F |
|
|
Residence: |
E. Casara |
, 12 |
- 36030 |
Monte di Malo |
(VI) |
- IT - |
|
Ex-Postions |
|
Responsible technician |
|
|
Gonzato |
Matteo |
|
|
Born in Brescia |
(BS) |
on 04/12/1976 |
- Fiscal Code : GNZMTT76T04B157J |
|
|
Residence: |
S. Nicolo' |
, 3 |
- 36015 |
Schio |
(VI) |
- IT - |
|
Ex-Postions |
|
Director |
Protests
Protests checking on the subject firm has given a negative result.
Data
Base Prejudicial Events Search
Search performed on a National Scale
|
|
Prejudicial Events Search Result: NEGATIVE |
Search performed on a specialized data base.
Legal
Procedures
None reported, standing to the latest received edition of the Official Publications.
Financial
and Economical Analysis
Subject is active since 1971
The economic-financial analysis has been made on the base of the b/s of
the latests three years.
During the last years, it recorded positive net results (r.o.e. 1,15% in
2013) with a stable trend in the turnover.
The operating result was positive in the last financial year (1,39%)
falling within the field's average.
An operating result of Eur. 1.010.319 has been registered. with no
increase in relation to the financial year 2012.
A gross operating margine for a value of Eur. 1.873.895 was reached.
,with no change if compared to the year before.
The company has an excellent net worth if compared to its debts, with a
low indebtedness (0,75) increasing compared to last year (0,7)
The equity capital is equal to Eur. 32.155.069 on the same levels as the
year before.
During the last financial year debts totalled Eur. 36.791.321 (Eur.
12.200.818 of which were m/l term debts) , with no sensible variation.
The company does not exceed in bank borrowings; the recourse to
suppliers' credit is also limited which is also lower than the sector average.
Payments are supported by good current assets.
Trade credits average terms are 49,39 days. , lower than the sector's
average.
Eur. 1.232.224 is the value of cash flow during the year 2013
During 2013 financial year labour costs amounted to Eur. 5.159.577, with
a 13,33% incidence on production costs. , whereas the incidence of such costs
on sales revenues is equal to 13,84%.
The financial management has a limited economic impact, equal to -0,62%
on the sales.
Financial Data
|
|
Complete balance-sheet for the year |
al 31/12/2013 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
37.292.272 |
|
Profit (Loss) for the period |
368.648 |
|
|
Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
38.600.488 |
|
Profit (Loss) for the period |
406.589 |
|
|
Complete balance-sheet for the year |
al 31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
39.948.189 |
|
Profit (Loss) for the period |
194.197 |
|
|
Complete balance-sheet for the year |
al 31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
35.884.562 |
|
Profit (Loss) for the period |
281.857 |
Balance
Sheets
From our constant monitoring of the relevant Public Administration
offices, no more recent balance sheets result to have been filed.
|
- Balance Sheet as at 31/12/2013 - 12 Mesi - Currency: - Amounts x 1 |
|
- Balance Sheet as at 31/12/2012 - 12 Mesi - Currency: - Amounts x 1 |
|
- Balance Sheet as at 31/12/2011 - 12 Mesi - Currency: - Amounts x 1 |
|
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|
Ratios
|
RATIOS |
Value Type |
as at 31/12/2013 |
as at 31/12/2012 |
as at 31/12/2011 |
Sector Average |
|
COMPOSITION ON INVESTMENT |
|||||
|
Rigidity Ratio |
Units |
0,52 |
0,49 |
0,47 |
0,28 |
|
Elasticity Ratio |
Units |
0,48 |
0,50 |
0,53 |
0,69 |
|
Availability of stock |
Units |
0,22 |
0,22 |
0,24 |
0,18 |
|
Total Liquidity Ratio |
Units |
0,26 |
0,28 |
0,28 |
0,47 |
|
Quick Ratio |
Units |
0,02 |
0,01 |
0,00 |
0,02 |
|
COMPOSITION ON SOURCE |
|||||
|
Net Short-term indebtedness |
Units |
0,75 |
0,70 |
0,65 |
2,32 |
|
Self Financing Ratio |
Units |
0,44 |
0,48 |
0,48 |
0,23 |
|
Capital protection Ratio |
Units |
0,86 |
0,86 |
0,87 |
0,74 |
|
Liabilities consolidation quotient |
Units |
0,54 |
0,41 |
0,53 |
0,24 |
|
Financing |
Units |
1,14 |
0,97 |
0,96 |
2,86 |
|
Permanent Indebtedness Ratio |
Units |
0,62 |
0,62 |
0,65 |
0,42 |
|
M/L term Debts Ratio |
Units |
0,18 |
0,14 |
0,17 |
0,13 |
|
Net Financial Indebtedness Ratio |
Units |
0,85 |
0,64 |
0,66 |
0,91 |
|
CORRELATION |
|||||
|
Fixed assets ratio |
Units |
1,21 |
1,26 |
1,38 |
1,37 |
|
Current ratio |
Units |
1,41 |
1,47 |
1,68 |
1,21 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
0,76 |
0,82 |
0,91 |
0,84 |
|
Structure's primary quotient |
Units |
0,85 |
0,97 |
1,03 |
0,86 |
|
Treasury's primary quotient |
Units |
0,06 |
0,02 |
0,01 |
0,04 |
|
Rate of indebtedness ( Leverage ) |
% |
226,13 |
208,91 |
208,31 |
422,49 |
|
Current Capital ( net ) |
Value |
10.082.472 |
10.709.914 |
13.911.010 |
281.462 |
|
RETURN |
|||||
|
Return on Sales |
% |
3,30 |
3,56 |
2,89 |
3,68 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
1,15 |
1,28 |
0,62 |
3,84 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
1,86 |
2,12 |
1,89 |
12,87 |
|
Return on Investment ( R.O.I. ) |
% |
1,39 |
1,41 |
1,30 |
4,59 |
|
Return/ Sales |
% |
2,71 |
2,43 |
2,13 |
4,38 |
|
Extra Management revenues/charges incid. |
% |
36,49 |
43,27 |
22,88 |
22,35 |
|
Cash Flow |
Value |
1.232.224 |
1.372.691 |
1.153.808 |
131.799 |
|
Operating Profit |
Value |
1.010.319 |
939.590 |
848.921 |
134.410 |
|
Gross Operating Margin |
Value |
1.873.895 |
1.971.692 |
1.874.532 |
257.621 |
|
MANAGEMENT |
|||||
|
Credits to clients average term |
Days |
49,39 |
44,85 |
49,33 |
106,38 |
|
Debts to suppliers average term |
Days |
84,91 |
99,65 |
81,50 |
123,44 |
|
Average stock waiting period |
Days |
153,95 |
138,23 |
142,70 |
62,20 |
|
Rate of capital employed return ( Turnover ) |
Units |
0,51 |
0,58 |
0,61 |
1,07 |
|
Rate of stock return |
Units |
2,34 |
2,60 |
2,52 |
5,77 |
|
Labour cost incidence |
% |
13,84 |
13,81 |
13,37 |
17,51 |
|
Net financial revenues/ charges incidence |
% |
-0,62 |
-1,36 |
-0,72 |
-1,55 |
|
Labour cost on purchasing expenses |
% |
13,33 |
13,91 |
12,75 |
17,84 |
|
Short-term financing charges |
% |
3,06 |
2,77 |
1,84 |
3,12 |
|
Capital on hand |
% |
194,98 |
172,03 |
163,63 |
93,68 |
|
Sales pro employee |
Value |
231.629 |
327.122 |
327.444 |
193.450 |
|
Labour cost pro employee |
Value |
32.047 |
45.170 |
43.786 |
33.229 |
Market
/ Territory Data
|
Population living in the province |
: |
|
|
Population living in the region |
: |
|
|
Number of families in the region |
: |
|
Monthly family expences average in the region (in Eur..) :
|
- per food products |
: |
|
|
- per non food products |
: |
|
|
- per energy consume |
: |
|
Sector
Data
The values are calculated on a base of 1.399 significant companies.
The companies cash their credits on an average of 106 dd.
The average duration of suppliers debts is about 123 dd.
The sector's profitability is on an average of 3,68%.
The labour cost affects the turnover in the measure of 17,51%.
Goods are held in stock in a range of 62 dd.
The difference between the sales volume and the resources used to
realize it is about 1,07.
The employees costs represent the 17,84% of the production costs.
Statistical
Detrimental Data
Statistcally the trade activity shows periods of crisis.
The area is statistically considered lowly risky.
In the region 13.782 protested subjects are found; in the province they
count to 2.234.
The insolvency index for the region is 0,30, , while for the province it
is 0,27.
Total Bankrupt companies in the province : 2.546.
Total Bankrupt companies in the region : 16.714.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.39 |
|
|
1 |
Rs.94.16 |
|
Euro |
1 |
Rs.73.61 |
INFORMATION DETAILS
|
Analysis Done by
: |
KRN |
|
|
|
|
Report Prepared
by : |
DPT |
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.