MIRA INFORM REPORT

 

 

Report No. :

302783

Report Date :

22.01.2015

 

IDENTIFICATION DETAILS

 

Name :

PURNA PHARMACEUTICALS NV

 

 

Registered Office :

Rijksweg 17 2870 Puurs

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

04.04.1986

 

 

Com. Reg. No.:

428742176

 

 

Legal Form :

Public Limited Liability Company (BE)

 

 

Line of Business :

Manufacture of Artificial Fertilisers

 

 

No. of Employees :

124

 

 

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)

Belgium

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

BELGIUM - ECONOMIC OVERVIEW

 

This modern, open, and private-enterprise-based economy has capitalized on its central geographic location, highly developed transport network, and diversified industrial and commercial base. Industry is concentrated mainly in the more heavily-populated region of Flanders in the north. With few natural resources, Belgium imports substantial quantities of raw materials and exports a large volume of manufactures, making its economy vulnerable to volatility in world markets. Roughly three-quarters of Belgium's trade is with other EU countries, and Belgium has benefited most from its proximity to Germany. In 2013 Belgian GDP grew by 0.1%, the unemployment rate increased to 8.8% from 7.6% the previous year, and the government reduced the budget deficit from a peak of 6% of GDP in 2009 to 3.2%. Despite the relative improvement in Belgium's budget deficit, public debt hovers around 100% of GDP, a factor that has contributed to investor perceptions that the country is increasingly vulnerable to spillover from the euro-zone crisis. Belgian banks were severely affected by the international financial crisis in 2008 with three major banks receiving capital injections from the government, and the nationalization of the Belgian retail arm of a Franco-Belgian bank.

 

Source : CIA

 

 

Company Summary

 

Business  number

428742176

Branche  Unit  Number

2033640632

Company  name

PURNA  PHARMACEUTICALS  NV

Address

RIJKSWEG  17

 

2870 PUURS

Number  of  staff

124

Date  of  establishment

04/04/1986

Telephone  number

038860085

Fax  number

038862538

 

 

Commentary

 

The business was established over 28 years ago.

The business has 100 employees.

The business is part of a group.

This business has a foreign parent business.

The business has been at the address for over 19 years.

Operating Result in the latest trading period decreased 30% on the previous trading period.

A 23% growth in Total Assets occurred during the latest trading period.

Pre-tax profits decreased by 55% compared to the previous trading period.

The business saw a decrease in their Cash Balance of 75% during the latest trading period.

 

 

Accounts

 

DATE  OF  LATEST  ACCOUNTS

TURNOVER

PROFIT  BEFORE  TAX

NET  WORTH

WORKING  CAPITAL

31/12/2013

24,415,276

435,525

7,162,497

3,233,020

31/12/2012

21,648,329

981,387

7,004,454

2,819,686

31/12/2011

16,262,346

372,813

6,379,298

2,985,908

Accounts

 

 

 

 

DATE  OF  LATEST  ACCOUNTS

BALANCE  TOTAL

NUMBER  OF  EMPLOYEES

CAPITAL

CASHFLOW

31/12/2013

18,684,168

124

610,047

1,793,838

31/12/2012

15,125,651

124

610,047

1,828,426

31/12/2011

13,954,634

107

610,047

1,634,950

 

 

Payment expectations

 

Past  payments

 

Payment  expectation  days

38.98

Industry  average  payment

96.64

Industry  average  day  sales

193.76

expectation  days

 

outstanding

 

Day  sales  outstanding

49.23

 

 

 

 

Court data summary

 

BANKRUPTCY DETAILS

Court action type                      No

PROTESTED BILLS

Bill amount                              -

NSSO DETAILS

Date of summons                     -

 

 

Company information

 

Business  number

428742176

Company  name

PURNA

 

 

 

PHARMACEUTICALS  NV

Fax  number

038862538

Date  founded

04/04/1986

Company  status

active

Company  type

Public  Limited  Liability

 

 

 

Company  (BE)

Currency

Euro  (€)

Date  of  latest  accounts

31/12/2013

Activity  code

21201

Liable  for  VAT

yes

Activity  description

Manufacture  of  artificial fertilisers

VAT  Number

BE.0428.742.176  Check  VAT number

Belgian  Bullettin  of  Acts Publications

moniteur  belge

 

 

 

 

Contractor details

Registered  contractor number

-

Contractor  description

Date  struck  off  register

-

 

 

Personnel (NSSO classification)

Code

-

Description

-

 

 

Joint Industrial Committee (JIC)

JIC  Code

116

Description category

Joint  committee  for  the  chemical  industry

 

 

JIC  Code

207

Description category

Joint  committee  for  the  employees  off  he  chemical  industry

 

 

Significant Events

Event  Date

06/05/2009

Event  Description

Re-appointment  of  director(s)

Event  Details

Commentaar  06-05-2009:  Herbenoeming  tot  bestuurders  tot  06/05/2015:  Smets  Lea,  van  Gucht Raymond  (tevens  als  gedelegeerd  bestuurder)  Bart  M.J.  Peeters  BVBA  en  Net  Consulting  BVBA.

 

 

Company Accounts

 

Assets

 

 

 

 

 

 

 

 

 

Annual  accounts

31-12-2013

%

31-12-2012

%

31-12-2011

%

31-12-2010

%

31-12-2009

Weeks

52

 

52

 

52

 

52

 

52

Currency

EUR

 

EUR

 

EUR

 

EUR

 

EUR

Total  fixed  assets

10,982,970

38.39

7,936,472

-0.53

7,978,969

-13.59

9,233,336

-13.20

10,637,636

Intangible  fixed  assets

158,649

2544

6,000

-7.69

6,500

-49.22

12,800

-32.98

19,100

Tangible  fixed  assets

10,820,701

36.51

7,926,852

-0.57

7,972,469

-13.54

9,220,536

-13.17

10,618,536

Land  &  building

8,571,306

41.74

6,047,363

4.75

5,772,945

-6.86

6,198,234

-7.81

6,723,060

Plant  &  machinery

1,388,705

6.47

1,304,264

11.81

1,166,541

-16.00

1,388,661

-14.11

1,616,753

Furniture  &  Vehicles

106,718

-8.56

116,709

132

50,202

-19.51

62,368

-32.66

92,619

Leasing  &  Other  Similar  Rights

753,972

64.44

458,517

-53.34

982,781

-37.45

1,571,274

-28.12

2,186,104

Other  tangible  assets

0

-

0

-

0

-

0

-

0

Financial  fixed  assets

3,620

0

3,620

-

-

-

-

-

-

Total  current  assets

7,701,198

7.12

7,189,179

20.31

5,975,665

8.25

5,520,378

26.13

4,376,631

Inventories

3,798,728

13.91

3,334,758

4.98

3,176,705

22.43

2,594,688

13.95

2,276,994

Raw  materials  &  consumables

3,255,598

21.41

2,681,599

4.79

2,559,013

9.40

2,339,047

13.92

2,053,167

Work  in  progress

0

-

0

-

0

-

0

-

0

Finished  goods

543,130

-16.85

653,159

5.74

617,693

141

255,641

14.21

223,827

Other  stocks

0

-

0

0

-1

-

0

-

0

 

Trade  debtors

3,292,814

51.76

2,169,784

-4.98

2,283,596

31.53

1,736,114

-9.33

1,914,742

Other  amounts  receivable

99,469

-10.66

111,342

-4.81

116,974

-4.18

122,083

32.46

92,163

Cash

383,636

-75.42

1,560,550

295

394,771

-62.89

1,063,874

1093

89,113

Miscellaneous  current  assets

126,551

892

12,744

1274433

-1

-

0

-

0

Total  Assets

18,684,168

23.53

15,125,651

8.39

13,954,634

-5.42

14,753,714

-1.74

15,014,267

Liabilities

 

 

 

 

 

 

 

 

 

Total  shareholders  equity

7,321,146

4.43

7,010,454

9.78

6,385,798

4.41

6,115,825

1.90

6,001,587

Issued  share  capital

610,047

0

610,047

0.00

610,047

0.00

610,047

0

610,047

Share  premium  account

2,330,166

0

2,330,166

0.00

2,330,166

0.00

2,330,166

0

2,330,166

Revaluation  reserve

-

-

-

-

-

-

-

-

-

Reserves

4,380,933

7.63

4,070,241

18.13

3,445,585

8.50

3,175,612

3.73

3,061,374

Provisions  for  Liabilities  & Charges

0

-

0

-

0

-

0

-

0

 

Deffered  taxes

-

-

-

-

-

-

-

-

15,936

Creditors

11,363,022

40.02

8,115,197

7.22

7,568,836

-12.38

8,637,890

-3.99

8,996,744

Other  long  term  loans

6,894,844

84.07

3,745,705

-18.20

4,579,079

-15.37

5,410,511

-14.88

6,356,370

Long  term  group  loans

-

-

-

-

-

-

-

-

-

Other  long  term  liabilities

0

-

0

-

0

-

0

-

0

Total  long  term  debts

6,894,844

84.07

3,745,705

-18.20

4,579,079

-15.37

5,410,511

-15.09

6,372,306

Current  portion  of  long  term  debt

1,328,482

62.23

818,905

-1.43

830,795

-12.53

949,788

-5.67

1,006,869

Financial  debts

-

-

-

-

-

-

-

-

-

Trade  creditors

2,486,178

-18.41

3,047,091

81.71

1,676,856

-11.93

1,904,048

50.35

1,266,433

Amounts  Payable  for  Taxes,

518,348

3.07

502,891

5.11

478,431

29.12

370,531

0.94

367,072

Remuneration  &  Social  Security

 

 

 

 

 

 

 

 

 

 

Miscellaneous  current  liabilities

135,169

22228

605

-83.53

3,675

22.03

3,012

-

0

Total  current  liabilities

4,468,178

2.26

4,369,492

46.15

2,989,757

-7.36

3,227,379

22.23

2,640,374

Total  Liabilities

18,684,168

23.53

15,125,651

8.39

13,954,634

-5.42

14,753,714

-1.74

15,014,267

 

 

RATIO ANALYSIS

 

TRADING  PERFORMANCE

 

 

 

 

 

 

 

 

 

Profit  Before  Tax

1.78

-60.71

4.53

97.82

2.29

269

0.62

158

-0.39

Return  on  capital  employed

3.06

-66.45

9.12

168

3.40

277

0.90

180

-0.50

Return  on  total  assets  employed

2.33

-64.10

6.49

143

2.67

281

0.70

166

-0.42

Return  on  net  assets  employed

5.95

-57.50

14.00

139

5.84

243

1.70

163

-1.04

Sales  /  net  working  capital

7.55

-1.69

7.68

40.92

5.45

-25.44

7.31

-21.65

9.33

Stock  turnover  ratio

15.56

1.04

15.40

-21.15

19.53

26.24

15.47

10.11

14.05

Creditor  days

38.98

-29.82

55.54

41.50

39.25

-7.36

42.37

45.85

29.05

Debtor  days

49.23

34.58

36.58

-28.62

51.25

35.62

37.79

-12.36

43.12

SHORT  TERM  STABILITY

 

 

 

 

 

 

 

 

 

Current  ratio

1.72

4.24

1.65

-17.50

2.00

16.96

1.71

3.01

1.66

Liquidity  ratio  /  acid  ratio

0.87

-1.14

0.88

-6.38

0.94

3.30

0.91

13.75

0.80

Current  debt  ratio

0.61

-1.61

0.62

31.91

0.47

-11.32

0.53

20.45

0.44

Liquidity  ratio  reprocessed

-

-

-

-

-

-

-

-

-

Cashflow

1,793,838

-1.89

1,828,426

11.83

1,634,950

1.10

1,617,115

1.23

1,597,440

Net  worth

7,162,497

2.26

7,004,454

9.80

6,379,298

4.53

6,103,025

2.01

5,982,487

LONG  TERM  STABILITY

 

 

 

 

 

 

 

 

 

Gearing

112.32

72.51

65.11

-23.15

84.72

-18.54

104.00

-15.23

122.69

Equity  in  percentage

39.52

-14.77

46.37

1.29

45.78

10.34

41.49

3.67

40.02

Total  debt  ratio

1.55

33.62

1.16

-2.52

1.19

-15.60

1.41

-6.00

1.50

Working  capital

3,233,020

14.66

2,819,686

-5.57

2,985,908

30.22

2,293,000

32.07

1,736,257

 

PROFIT & LOSS

 

Operating  Income

24,697,891

13.56

21,747,874

28.31

16,949,859

-1.24

17,163,468

5.34

16,293,555

Turnover

24,415,276

12.78

21,648,329

33.12

16,262,346

-3.02

16,768,073

3.47

16,206,445

Total  operating  expenses

23,281,310

16.27

20,024,206

28.40

15,594,929

-4.92

16,401,799

3.06

15,914,575

Gross  Operating  Margin

-

-

-

-

-

-

-

-

-

Operating  Charges

23,563,925

17.10

20,123,751

23.59

16,282,442

-3.06

16,797,194

4.97

16,001,684

Employee  costs

5,652,977

11.87

5,053,167

12.38

4,496,472

7.87

4,168,424

0.13

4,162,914

Wages  and  salary

3,749,724

8.89

3,443,603

14.48

3,007,915

8.99

2,759,817

0.68

2,741,075

Employee  pension  costs

-

-

-

-

-

-

-

-

-

Social  security  contributions

1,416,730

7.88

1,313,217

15.65

1,135,535

8.95

1,042,247

2.08

1,021,009

Other  employee  costs

486,523

64.17

296,347

-16.05

353,022

-3.64

366,360

-8.60

400,830

Director  remuneration

372,934

-9.04

409,989

23.94

330,805

-90.11

3,344,929

-

-

Amortization  and  depreciation

1,483,145

23.21

1,203,770

-11.81

1,364,977

-8.99

1,499,797

-8.02

1,630,576

Operating  result

1,133,966

-30.18

1,624,123

143

667,417

82.22

366,274

25.49

291,870

Total  financial  income

43,341

-10.05

48,182

39.24

34,604

-74.91

137,931

95.40

70,588

Total  financial  expenses

741,783

7.36

690,918

109

329,207

-17.80

400,519

-5.74

424,888

Results  on  ordinary  operations before  taxation

435,525

-55.62

981,387

163

372,813

259

103,686

166

-62,429

 

Extraordinary 

 Income

-

-

-

-

-

-

-

-

-

Extraordinary 

Charges

-

-

-

-

-

-

-

-

-

Extraordinary 

items

0

-

0

-

0

-

0

-

0

Results  for  the  Year  Before Taxation

435,525

-55.62

981,387

163

372,813

259

103,686

166

-62,429

Other appropriations

-

-

-

-

-

-

-

-

-

Taxation

124,832

-65.01

356,731

246

102,840

10654

-965

-106

-467

Results  on  ordinary  operations after  taxation

310,693

-50.26

624,656

131

269,973

157

104,652

168

-61,962

Net  result

310,693

-50.26

624,656

131

269,973

130

117,318

354

-33,136

Profit  (Loss)  for  the  Year  to  be appropriated

310,693

-50.26

624,656

131

269,973

85.95

145,186

455

26,115

Dividend

-

-

--

-

-

-

-

-

-

 

 

Social Balance Sheet Details

 

Social  Balance  Sheet  Details

 

 

 

Social  Balance  Sheet

 

Total

 

During  the  reporting  year

 

 

 

ended  31-12-2013

 

 

 

Full-time  Employees

 

105

 

Part-time  Employees

 

27

 

Total  Fte  Employees

 

126

 

Number  of  hours  worked

 

 

 

Full-time  Employees

 

151,008

 

Part-time  Employees

 

27,739

 

Total

 

178,747

 

Personnel  Charges

 

 

 

Full-time  Employees

 

4,768,323

 

Part-time  Employees

 

884,654

 

Total

 

5,652,977

 

Benefits  In  Addition  To  Wages

 

-

 

During  the  previous  reporting  year

 

 

 

Average  number  employees  in  Fte

 

116

 

Actual  working  hours

 

166,430

 

Personnel  Charges

 

5,053,167

 

Benefits  In  Addition  To  Wages

 

79,779

 

 

Type  of  Contract

Full-Time

Part-Time

Total  Fte

Unlimited  Duration

105

27

125

Contracts

 

 

 

Limited  Duration  Contracts

-

-

-

Contracts  For  Specific  Work

-

-

-

Contracts  Regarding

-

-

-

 

 

GENDER AND EDUCATION LEVEL

 

Men

Full-Time

Part-Time

Total  Fte

Primary  education

-

1

1

Secondairy  education

25

3

28

Higher  education  (non

4

1

5

university)

 

 

 

Higher  education

5

-

5

(university)

 

 

 

Women

Full-Time

Part-Time

Total  Fte

Primary  education

7

1

8

Secondairy  education

43

13

53

Higher  education  (non

16

5

19

university)

 

 

 

Higher  education

5

3

7

(university)

 

 

 

 

Working  Category

Full-Time

Part-Time

Total  Fte

Management

2

1

3

White  collar  worker

33

8

38

Blue  collar  worker

70

18

84

Other

-

-

-

 

Temporary  personnel

 

Total

 

Average  number  of  temporary  staff

 

22

 

Actual  working  hours

 

43,902

 

Cost  of  temporary  staff

 

1,123,510

 

 

 

New  staff  and  leavers

Full-Time

Part-Time

Total  Fte

New  Starters

16

-

16

Leavers

12

1

13

 

 

Total  of  formal  continuing  vocational  training  initiatives for  workers  paid  by  the  employer

Male

Female

Number  of  employees

1

5

Number  of  training  hours

56

292

Net  costs  for  enterprise

1,805

6,094

 

 

 

Total  of  less  formal  and  informal  continuing  vocational training  initiatives  for  workers  paid  by  the  employer

Male

Female

Number  of  employees

-

-

Number  of  training  hours

-

-

Net  costs  for  enterprise

-

-

 

 

 

Total  of  initial  training  initiatives  at  the  expense  of  the employer

Male

Female

Number  of  employees

-

-

Number  of  training  hours

-

-

Net  costs  for  enterprise

-

-

 

 

Industry comparison

 

Activity Code

21201

Activity description

Manufacturer of Artificial Fertilisers

Industry average credit rating

70.59

Industry average credit limit

1068185.57

 

 

Payment Information

 

Payment Information Summary

Total  number  of  Invoices  available

120

Total  number  of  Invoices  paid  within  or  up  to  30  days  after  the  due  date

81

Total  number  of  Invoices  paid  more  than  30  days  after  the  due  date

11

Total  number  of  Invoices  currently  outstanding  where  the  due  date  has  not  yet  been  reached

22

Total  number  of  Invoices  currently  outstanding  beyond  the  due  date

0

 

Suspension of payments/ moratorium history

Amount

-

Details

-

 

 

Payment Expectations

Payment  expectation  days

38.98

Day  sales  outstanding

49.23

 

 

Industry  comparison

 

Activity  code

21201

Activity  description

Manufacture  of  Artificial  Fertilisers

Industry  average  payment expectation  days

96.64

Industry  average  day  sales outstanding

193.76

 

 

Industry  quartile  analysis

 

Payment  expectations

 

Company  result

38.98

Lower

108.71

Median

65.42

Upper

39.61

 Day sales outstanding

 

Company  result

49.23

Lower

90.52

Median

55.38

Upper

30.09

 

 

Shareholder Details

 

Summary

 

Group  -  Number  of  Companies

2

Linkages  -  Number  of  Companies

0

Number  of  Countries

0

 

Group Structure

Company  name

 

Number

 

Latest Financials

- PURNA  PHARMACEUTICALS  NV

 

428742176

 

31-12-2013

- - CIRIS  BVBA

 

420716714

 

31-12-1998

 

Minority Shareholders

No minority shareholders found

 

Minority Interests

No minority interests found

 

Companies that match this address

No Companies Match this address

 

 

Linked companies

 

Summary

 

Group  -  Number  of  Companies

2

Linkages  -  Number  of  Companies

0

Number  of  Countries

0

 

Summons

There is no data for this company

 

Protested Bills

There is no data for this company

 

Bankruptcy and other legal events

There is no data for this company

 

 

Director details

 

Current Director Details

Name

RAYMOND  VAN  GUCHT

Position

Chairman  of  the  Board

Start  Date

01/08/2013

Date  of  birth

30/10/1946

Street

137 PULLAARSTEENWEG  PUURS

Post  code

2870

Country

Belgium

 

 

Position

Managing  Director

Start  Date

06/05/2009

End  Date

06/05/2015

Date  of  birth

30/10/1946

Street

137 PULLAARSTEENWEG  PUURS

Post  code

2870

Country

Belgium

 

 

Position

Director

Start  Date

22/07/2011

Date  of  birth

30/10/1946

Street

137 PULLAARSTEENWEG  PUURS

Post  code

2870

Country

Belgium

 

 

Name

IFC  SERVICES  BVBA

Position

Director

Start  Date

01/07/2012

End  Date

06/05/2015

Date  of  birth

26/01/2012

Street

12 RIETVOORNSTRAAT  DEINZE

Post  code

9800

Country

Belgium

 

 

Position

Legal  Representative

Start  Date

01/07/2012

Date  of  birth

26/01/2012

Street

12 RIETVOORNSTRAAT  DEINZE

Post  code

9800

Country

Belgium

 

 

Name

BART M.J. PEETERS  BVBA

Position

Director

 

Start  Date

06/05/2009

 

End  Date

06/05/2015

 

Date  of  birth

25/01/2005

 

Street

31 SCHELDESTRAAT  BORNEM

 

Post  code

2880

 

Country

Belgium

 

 

 

 

Position

Legal  Representative

 

Start  Date

04/01/2005

 

Date  of  birth

25/01/2005

 

Street

31 SCHELDESTRAAT  BORNEM

 

Post  code

2880

 

Country

Belgium

 

 

 

 

Name

LEA  SMETS

 

Position

Director

 

Start  Date

06/05/2009

 

End  Date

06/05/2015

 

Date  of  birth

04/01/1946

 

Street

137 PULLAARSTEENWEG  PUURS

 

Post  code

2870

 

Country

Belgium

 

 

 

 

Name

DIRK  HAERINCK

 

Position

Legal  Representative

 

Start  Date

06/04/2004

 

Street

-

 

Post code

-

 

Country

-

 

 

Former director details

 

Name

NET  CONSULTING  IN  VEREFFENING  BVBA

Position

Director

Start  Date

04/01/2005

End  Date

01/07/2012

Date  of  birth

05/12/2000

Street

12 RIETVOORNSTRAAT  DEINZE

Post  code

9800

Country

Belgium

 

 

Position

Legal  Representative

Start  Date

06/05/2009

End  Date

Unknown  date

Date  of  birth

05/12/2000

Street

12 RIETVOORNSTRAAT  DEINZE

Post  code

9800

Country

Belgium

 

 

Name

BART  PEETERS

Position

Director

Start  Date

30/12/2003

End  Date

Unknown  date

Street

31 SCHELDESTRAAT  BORNEM

Post  code

2880

Country

Belgium

 

 

Position

Legal  Representative

Start  Date

04/01/2005

End  Date

Unknown  date

Street

31 SCHELDESTRAAT  BORNEM

Post  code

2880

Country

Belgium

 


 

FOREIGN EXCHANGE RATES

 

Currency

Unit

Indian Rupees

US Dollar

1

Rs.61.61

UK Pound

1

Rs.93.49

Euro

1

Rs.71.38

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

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.