MIRA INFORM REPORT

Report No. :	351362
Report Date :	26.11.2015

IDENTIFICATION DETAILS

Name :	EMCURE PHARMA UK LTD

Registered Office :	3 Howard Road, Eaton Socon, St. Neots, PE19 8 ET

Country :	United Kingdom

Financials (as on) :	31.03.2015

Date of Incorporation :	06.11.2012

Com. Reg. No.:	08283131

Legal Form :	Private Limited with Share Capital

Line of Business :	Wholesale of Pharmaceutical Goods.

No. of Employees :	75

RATING & COMMENTS

MIRA’s Rating :

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 – March 31, 2015

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

United Kingdom

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
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. 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 has been a net importer of energy since 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.

In 2008, 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. Facing burgeoning public deficits and debt levels, in 2010 the CAMERON-led coalition government (between Conservatives and Liberal Democrats) initiated an austerity program, which aimed to lower London's budget deficit from about 11% of GDP in 2010 to nearly 1% by 2015. 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 20% by 2015. However, the deficit still remains one of the highest in the G7, standing at 6.0% in 2014.

In 2012, weak consumer spending and subdued business investment weighed on the economy, however, in 2013 GDP grew 1.7% and in 2014, 2.6%, accelerating unexpectedly because of greater consumer spending and a recovering housing market.

The Bank of England (BoE) implemented an asset purchase program of 375 billion (approximately $586 billion) as of December 2014. 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).

Source : CIA

Company Name and Address

Company Name: EMCURE PHARMA UK LTD

Company No: 08283131

Company Status: Active - Accounts Filed

Registered Address: 3 HOWARD ROAD EATON SOCON ST. NEOTS PE19 8ET

Company Summary

Registered Address 3 HOWARD ROAD, EATON SOCON, ST. NEOTS, PE19 8ET

Trading Address 3 Howard Road, Eaton Socon, St. Neots, Cambridgeshire, PE19 8ET

Website Address http://www.tillomed.co.uk

Telephone Number -

Fax Number -

TPS -

FPS No

Incorporation Date 06/11/2012

Previous Name -

Type Private limited with Share Capital

FTSE Index -

Date of Change -

Filing Date of Accounts 29/07/2015

Currency GBP

Share Capital £5,000,000

SIC07 46460

Charity Number -

SIC07 Description WHOLESALE OF PHARMACEUTICAL GOODS

Principal Activity Pharmaceutical products.

Key Financials

Year to Date Turnover Pre Tax Profit Shareholder Funds Employees

31/03/2015 £24,953,458 £2,365,365 £6,530,963 75

31/03/2014 £3,258,345 -£17,169 £866,162 9

31/03/2013 - -£51,635 £60,165 -

Mortgage Summary

Total Mortgage 0

Outstanding 0

Satisfied 0

Trade Debtors / Bad Debt Summary

Total Number of Documented Trade 0

Total Value of Documented Trade £0

Commentary

This company has been treated as a Medium company in respect of the rating/limit generated.

This company's ratio of total liabilities to total assets indicates the presence of moderate equity funding.

This company's return on total assets employed ratio indicates a relatively efficient use of assets.

The company has more cash than short term bank borrowings.

This company trades in an industry with a lower level of corporate failures.

CCJ

Total Number of Exact CCJs -	0	Total Value of Exact CCJs -
Total Number of Possible CCJs -	0	Total Value of Possible CCJs -
Total Number of Satisfied CCJs -	0	Total Value of Satisfied CCJs -
Total Number of Writs -	-

Total Current Directors	3
Total Current Secretaries	0
Total Previous Directors / Company Secretaries	2

Current Directors

Name	Ian Alan Walter	Date of Birth	07/05/1955
Officers Title	Mr	Nationality	British
Present Appointments	6	Function	Director
Appointment Date	09/09/2014
Address	3 Howard Road, Eaton Socon, St. Neots, Cambridgeshire, PE19 8ET

Name	Vikas Thapar	Date of Birth	27/04/1974
Officers Title	Mr	Nationality	American
Present Appointments	1	Function	Director
Appointment Date	06/11/2012
Address	3 Howard Road, Eaton Socon, St. Neots, Cambridgeshire, PE19 8ET

Name	Samit Satish Mehta	Date of Birth	04/04/1980
Officers Title	Mr	Nationality	Indian
Present Appointments	3	Function	Director
Appointment Date	09/09/2014
Address	3 Howard Road, Eaton Socon, St. Neots, Cambridgeshire, PE19 8ET

Current Company Secretary

Top 20 Shareholders

Name	Currency	Share Count	Share Type	Nominal Value	% of Total Share Count
EMCURE PHARMACEUTICALS LTD	GBP	5,000,000	ORDINARY	1	100

Financials

Profit & Loss

	Date Of Accounts	31/03/15	(%)	31/03/14	(%)	31/03/13	(%)	-	(%)	-
	Weeks	52	(%)	52	(%)	21	(%)	-	(%)	-
	Currency	GBP	(%)	GBP	(%)	GBP	(%)	-	(%)	-
	Consolidated A/cs	Y	(%)	Y	(%)	N	(%)	-	(%)	-
$Description: \\VIVEK-PC\123 Foreign Report Raw\EMCURE PHARMA UK LTD_files\barchart-grey.png$	Turnover	£24,953,458	665.8%	£3,258,345	-	-	-	-	-	-
$Description: \\VIVEK-PC\123 Foreign Report Raw\EMCURE PHARMA UK LTD_files\barchart-grey.png$	Export	-	-	-	-	-	-	-	-	-
$Description: \\VIVEK-PC\123 Foreign Report Raw\EMCURE PHARMA UK LTD_files\barchart-grey.png$	Cost of Sales	£15,091,764	896%	£1,515,179	-	-	-	-	-	-
$Description: \\VIVEK-PC\123 Foreign Report Raw\EMCURE PHARMA UK LTD_files\barchart-grey.png$	Gross Profit	£9,861,694	465.7%	£1,743,166	-	-	-	-	-	-
$Description: \\VIVEK-PC\123 Foreign Report Raw\EMCURE PHARMA UK LTD_files\barchart-grey.png$	Wages & Salaries	£2,435,942	439.1%	£451,868	-	-	-	-	-	-
$Description: \\VIVEK-PC\123 Foreign Report Raw\EMCURE PHARMA UK LTD_files\barchart-grey.png$	Directors Emoluments	-	-	-	-	-	-	-	-	-
$Description: \\VIVEK-PC\123 Foreign Report Raw\EMCURE PHARMA UK LTD_files\barchart-grey.png$	Operating Profit	£2,687,886	999.9%	£47,675	192.3%	-£51,635	-	-	-	-
$Description: \\VIVEK-PC\123 Foreign Report Raw\EMCURE PHARMA UK LTD_files\barchart-grey.png$	Depreciation	£216,197	999.9%	£857	-	-	-	-	-	-
$Description: \\VIVEK-PC\123 Foreign Report Raw\EMCURE PHARMA UK LTD_files\barchart-grey.png$	Audit Fees	£38,980	679.6%	£5,000	150%	£2,000	-	-	-	-
$Description: \\VIVEK-PC\123 Foreign Report Raw\EMCURE PHARMA UK LTD_files\barchart-grey.png$	Interest Payments	£342,832	403.9%	£68,042	-	-	-	-	-	-
$Description: \\VIVEK-PC\123 Foreign Report Raw\EMCURE PHARMA UK LTD_files\barchart-grey.png$	Pre Tax Profit	£2,365,365	999.9%	-£17,169	66.7%	-£51,635	-	-	-	-
$Description: \\VIVEK-PC\123 Foreign Report Raw\EMCURE PHARMA UK LTD_files\barchart-grey.png$	Taxation	-£914,682	-999.9%	-£45,800	-488.1%	£11,800	-	-	-	-
$Description: \\VIVEK-PC\123 Foreign Report Raw\EMCURE PHARMA UK LTD_files\barchart-grey.png$	Profit After Tax	£1,450,683	999.9%	-£62,969	-58.1%	-£39,835	-	-	-	-
$Description: \\VIVEK-PC\123 Foreign Report Raw\EMCURE PHARMA UK LTD_files\barchart-grey.png$	Dividends Payable	-	-	-	-	-	-	-	-	-
$Description: \\VIVEK-PC\123 Foreign Report Raw\EMCURE PHARMA UK LTD_files\barchart-grey.png$	Retained Profit	£1,747,646	999.9%	£23,334	158.6%	-£39,835	-	-	-	-

Balance Sheet

	Date Of Accounts	31/03/15	(%)	31/03/14	(%)	31/03/13	(%)	-	(%)	-
$Description: \\VIVEK-PC\123 Foreign Report Raw\EMCURE PHARMA UK LTD_files\barchart-grey.png$	Tangible Assets	£4,728,572	999.9%	£90,901	-	0	-	-	-	-
$Description: \\VIVEK-PC\123 Foreign Report Raw\EMCURE PHARMA UK LTD_files\barchart-grey.png$	Intangible Assets	£942,079	-	0	-	0	-	-	-	-
$Description: \\VIVEK-PC\123 Foreign Report Raw\EMCURE PHARMA UK LTD_files\barchart-grey.png$	Total Fixed Assets	£5,670,651	999.9%	£90,901	-	0	-	-	-	-
$Description: \\VIVEK-PC\123 Foreign Report Raw\EMCURE PHARMA UK LTD_files\barchart-grey.png$	Stock	£3,933,502	531.3%	£623,054	999.9%	£14,053	-	-	-	-
$Description: \\VIVEK-PC\123 Foreign Report Raw\EMCURE PHARMA UK LTD_files\barchart-grey.png$	Trade Debtors	£6,706,837	589.8%	£972,310	-	0	-	-	-	-
$Description: \\VIVEK-PC\123 Foreign Report Raw\EMCURE PHARMA UK LTD_files\barchart-grey.png$	Cash	£8,092,792	303%	£2,008,056	999.9%	£48,172	-	-	-	-
$Description: \\VIVEK-PC\123 Foreign Report Raw\EMCURE PHARMA UK LTD_files\barchart-grey.png$	Other Debtors	£623,937	315.8%	£150,049	697.1%	£18,825	-	-	-	-
$Description: \\VIVEK-PC\123 Foreign Report Raw\EMCURE PHARMA UK LTD_files\barchart-grey.png$	Miscellaneous Current Assets	£1,000,000	-	0	-	0	-	-	-	-
$Description: \\VIVEK-PC\123 Foreign Report Raw\EMCURE PHARMA UK LTD_files\barchart-grey.png$	Total Current Assets	£20,357,068	442.4%	£3,753,469	999.9%	£81,050	-	-	-	-
$Description: \\VIVEK-PC\123 Foreign Report Raw\EMCURE PHARMA UK LTD_files\barchart-grey.png$	Trade Creditors	£2,884,419	999.9%	£195,858	995.1%	£17,885	-	-	-	-
$Description: \\VIVEK-PC\123 Foreign Report Raw\EMCURE PHARMA UK LTD_files\barchart-grey.png$	Bank Loans & Overdrafts	£1,236,855	-	0	-	0	-	-	-	-
$Description: \\VIVEK-PC\123 Foreign Report Raw\EMCURE PHARMA UK LTD_files\barchart-grey.png$	Other Short Term Finance	£5,657,581	168%	£2,111,088	-	0	-	-	-	-
$Description: \\VIVEK-PC\123 Foreign Report Raw\EMCURE PHARMA UK LTD_files\barchart-grey.png$	Miscellaneous Current Liabilities	£3,096,176	999.9%	£200,043	999.9%	£3,000	-	-	-	-
$Description: \\VIVEK-PC\123 Foreign Report Raw\EMCURE PHARMA UK LTD_files\barchart-grey.png$	Total Current Liabilities	£12,875,031	413.6%	£2,506,989	999.9%	£20,885	-	-	-	-
$Description: \\VIVEK-PC\123 Foreign Report Raw\EMCURE PHARMA UK LTD_files\barchart-grey.png$	Bank Loans & Overdrafts and LTL	£7,858,580	999.9%	£471,219	-	0	-	-	-	-
$Description: \\VIVEK-PC\123 Foreign Report Raw\EMCURE PHARMA UK LTD_files\barchart-grey.png$	Other Long Term Finance	0	-	0	-	0	-	-	-	-
$Description: \\VIVEK-PC\123 Foreign Report Raw\EMCURE PHARMA UK LTD_files\barchart-grey.png$	Total Long Term Liabilities	£6,621,725	999.9%	£471,219	-	0	-	-	-	-

Capital & Reserves

	Date Of Accounts	31/03/15	(%)	31/03/14	(%)	31/03/13	(%)	-	(%)	-
$Description: \\VIVEK-PC\123 Foreign Report Raw\EMCURE PHARMA UK LTD_files\barchart-grey.png$	Called Up Share Capital	£5,000,000	400%	£1,000,000	900%	£100,000	-	-	-	-
$Description: \\VIVEK-PC\123 Foreign Report Raw\EMCURE PHARMA UK LTD_files\barchart-grey.png$	P & L Account Reserve	£1,530,963	999.9%	-£133,838	-236%	-£39,835	-	-	-	-
$Description: \\VIVEK-PC\123 Foreign Report Raw\EMCURE PHARMA UK LTD_files\barchart-grey.png$	Revaluation Reserve	-	-	-	-	-	-	-	-	-
$Description: \\VIVEK-PC\123 Foreign Report Raw\EMCURE PHARMA UK LTD_files\barchart-grey.png$	Sundry Reserves	-	-	-	-	-	-	-	-	-
$Description: \\VIVEK-PC\123 Foreign Report Raw\EMCURE PHARMA UK LTD_files\barchart-grey.png$	Shareholder Funds	£6,530,963	654%	£866,162	999.9%	£60,165	-	-	-	-

Other Financial Items

	Date Of Accounts	31/03/15	(%)	31/03/14	(%)	31/03/13	(%)	-	(%)	-
$Description: \\VIVEK-PC\123 Foreign Report Raw\EMCURE PHARMA UK LTD_files\barchart-grey.png$	Net Worth	£5,588,884	545.2%	£866,162	999.9%	£60,165	-	-	-	-
$Description: \\VIVEK-PC\123 Foreign Report Raw\EMCURE PHARMA UK LTD_files\barchart-grey.png$	Working Capital	£7,482,037	500.3%	£1,246,480	999.9%	£60,165	-	-	-	-
$Description: \\VIVEK-PC\123 Foreign Report Raw\EMCURE PHARMA UK LTD_files\barchart-grey.png$	Total Assets	£26,027,719	577%	£3,844,370	999.9%	£81,050	-	-	-	-
$Description: \\VIVEK-PC\123 Foreign Report Raw\EMCURE PHARMA UK LTD_files\barchart-grey.png$	Total Liabilities	£19,496,756	554.6%	£2,978,208	999.9%	£20,885	-	-	-	-
$Description: \\VIVEK-PC\123 Foreign Report Raw\EMCURE PHARMA UK LTD_files\barchart-grey.png$	Net Assets	£6,530,963	654%	£866,162	999.9%	£60,165	-	-	-	-

Cash Flow

	Date Of Accounts	31/03/15	(%)	31/03/14	(%)	31/03/13	(%)	-	(%)	-
$Description: \\VIVEK-PC\123 Foreign Report Raw\EMCURE PHARMA UK LTD_files\barchart-grey.png$	Net Cashflow from Operations	£4,833,114	528.6%	£768,874	-	-	-	-	-	-
$Description: \\VIVEK-PC\123 Foreign Report Raw\EMCURE PHARMA UK LTD_files\barchart-grey.png$	Net Cashflow before Financing	-£3,893,207	-735.7%	£612,402	-	-	-	-	-	-
$Description: \\VIVEK-PC\123 Foreign Report Raw\EMCURE PHARMA UK LTD_files\barchart-grey.png$	Net Cashflow from Financing	£10,068,425	555.9%	£1,535,045	-	-	-	-	-	-
$Description: \\VIVEK-PC\123 Foreign Report Raw\EMCURE PHARMA UK LTD_files\barchart-grey.png$	Increase in Cash	£6,175,218	187.6%	£2,147,447	-	-	-	-	-	-

Miscellaneous

	Date Of Accounts	31/03/15	(%)	31/03/14	(%)	31/03/13	(%)	-	(%)	-
	Contingent Liability	NO	-	NO	-	NO	-	-	-	-
$Description: \\VIVEK-PC\123 Foreign Report Raw\EMCURE PHARMA UK LTD_files\barchart-grey.png$	Capital Employed	£13,152,688	883.5%	£1,337,381	999.9%	£60,165	-	-	-	-
$Description: \\VIVEK-PC\123 Foreign Report Raw\EMCURE PHARMA UK LTD_files\barchart-grey.png$	Number of Employees	75	733.3%	9	-	-	-	-	-	-
	Accountants
	Auditors	PRICEWATERHOUSECOOPERS LLP
	Auditor Comments	The audit report contains no adverse comments
	Bankers	STATE BANK OF INDIA
	Bank Branch Code	16-92-87

Ratios

	Date Of Accounts	31/03/15	31/03/14	31/03/13	-	-
$Description: \\VIVEK-PC\123 Foreign Report Raw\EMCURE PHARMA UK LTD_files\barchart-grey.png$	Pre-tax profit margin %	9.48	-0.53	-	-	-
$Description: \\VIVEK-PC\123 Foreign Report Raw\EMCURE PHARMA UK LTD_files\barchart-grey.png$	Current ratio	1.58	1.50	3.88	-	-
$Description: \\VIVEK-PC\123 Foreign Report Raw\EMCURE PHARMA UK LTD_files\barchart-grey.png$	Sales/Net Working Capital	3.34	2.61	-	-	-
$Description: \\VIVEK-PC\123 Foreign Report Raw\EMCURE PHARMA UK LTD_files\barchart-grey.png$	Gearing %	120.30	54.40	0	-	-
$Description: \\VIVEK-PC\123 Foreign Report Raw\EMCURE PHARMA UK LTD_files\barchart-grey.png$	Equity in %	26	22.50	74.20	-	-
$Description: \\VIVEK-PC\123 Foreign Report Raw\EMCURE PHARMA UK LTD_files\barchart-grey.png$	Creditor Days	42.07	21.87	-	-	-
$Description: \\VIVEK-PC\123 Foreign Report Raw\EMCURE PHARMA UK LTD_files\barchart-grey.png$	Debtor Days	97.83	108.61	-	-	-
$Description: \\VIVEK-PC\123 Foreign Report Raw\EMCURE PHARMA UK LTD_files\barchart-grey.png$	Liquidity/Acid Test	1.27	1.24	3.20	-	-
$Description: \\VIVEK-PC\123 Foreign Report Raw\EMCURE PHARMA UK LTD_files\barchart-grey.png$	Return On Capital Employed %	17.98	-1.28	-85.82	-	-
$Description: \\VIVEK-PC\123 Foreign Report Raw\EMCURE PHARMA UK LTD_files\barchart-grey.png$	Return On Total Assets Employed %	9.08	-0.44	-63.70	-	-
$Description: \\VIVEK-PC\123 Foreign Report Raw\EMCURE PHARMA UK LTD_files\barchart-grey.png$	Current Debt Ratio	1.97	2.89	0.34	-	-
$Description: \\VIVEK-PC\123 Foreign Report Raw\EMCURE PHARMA UK LTD_files\barchart-grey.png$	Total Debt Ratio	2.98	3.43	0.34	-	-
$Description: \\VIVEK-PC\123 Foreign Report Raw\EMCURE PHARMA UK LTD_files\barchart-grey.png$	Stock Turnover Ratio %	15.76	19.12	-	-	-
$Description: \\VIVEK-PC\123 Foreign Report Raw\EMCURE PHARMA UK LTD_files\barchart-grey.png$	Return on Net Assets Employed %	36.21	-1.98	-85.82	-	-

Report Notes

There are no notes to display.

Status History

No Status History found

Event History

Date	Description
15/09/2015	Annual Returns
07/08/2015	New Accounts Filed
07/08/2015	New Accounts Filed
25/05/2015	Change in Reg. Office
25/05/2015	Change of Company Postcode
03/04/2015	Mr M.M. Ginai has left the board
03/03/2015	Mr M.P. Ranade has left the board
02/10/2014	New Board Member Mr S.S. Mehta appointed
30/09/2014	New Board Member Mr M.M. Ginai appointed
24/09/2014	New Board Member Mr S.S. Mehta appointed
24/09/2014	New Board Member Mr M.M. Ginai appointed
24/09/2014	New Board Member Mr I.A. Walter appointed
05/09/2014	Annual Returns
03/07/2014	New Accounts Filed
03/07/2014	New Accounts Filed

Previous Company Names

No Previous Names found

Writ Details

No writs found

Statistics

Group	4 companies
Linkages	0 companies
Countries	In 0 countries

Summary

Holding Company	-
Ownership Status	Wholly Owned
Ultimate Holding Company	EMCURE PHARMACEUTICALS LTD

Group Structure Full

Company Name	Registered Number	Latest Key Financials	Consol. Accounts	Turnover
EMCURE PHARMACEUTICALS LTD	N/A	-	-
EMCURE PHARMA UK LTD	08283131	31.03.2015	Y	£24,953,458
TILLOMED HOLDINGS LI...	03334713	31.03.2015	N
TILLOMED LABORATOR...	02544103	31.03.2015	N	£16,071,877

Previous Director/Company Secretaries

Name		Current Directorships	Previous Directorships
Musharaf Mahmood Ahmed Ginai		8	3
Mukund Pandurang Ranade		0	1
Average Invoice Value	Ł117.94
Invoices available	9
Paid	9
Outstanding	0

Trade Payment Data is information that we collect from selected third party partners who send us information about their whole sales ledger.

	Within Terms	0-30 Days	31-60 Days	61-90 Days	91+ Days
Paid	3	5	1	0	0
Outstanding	0	0	0	0	0

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.66.38
UK Pound	1	Rs.100.45
Euro	1	Rs.70.55

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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.