MIRA INFORM REPORT

Report No. :	343960
Report Date :	03.10.2015

IDENTIFICATION DETAILS

Name :	TYPHOO TEA LIMITED
Formerly Known As :	APEEJAY INTERNATIONAL TEA LIMITED
Registered Office :	Pasture Road, Moreton, Wirral, CH46 8XF
Country :	United Kingdom
Financials (as on) :	31.03.2014
Date of Incorporation :	26.09.2005
Com. Reg. No.:	05573418
Legal Form :	Private Limited with Share Capital
Line of Business :	The sales and marketing of tea and coffee.
No. of Employees :	253

RATING & COMMENTS

MIRA’s Rating :

B

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Moderate
Payment Behaviour :	Slow but correct
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	A1	A1

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

Top of Form

Bottom of Form

Top of Form

Company Name: TYPHOO TEA LIMITED

Company No: 05573418

Company Status: Active - Accounts Filed

Registered Address: PASTURE ROAD MORETON WIRRAL CH46 8XF

Company Summary

Registered Address PASTURE ROAD, MORETON, WIRRAL, CH46 8XF

Trading Address Pasture Road, Moreton, Wirral, Merseyside, CH46 8XF

Website Address http://www.typhoo.com

Telephone Number 01515224000

Fax Number --

TPS No

FPS No

Incorporation Date 26/09/2005

Previous Name APEEJAY INTERNATIONAL TEA LIMITED

Type Private limited with Share Capital

FTSE Index -

Date of Change 01/11/2005

Filing Date of Accounts 21/05/2014

Currency GBP

Share Capital £31,510,005

SIC07 10831

Charity Number -

SIC07 Description TEA PROCESSING

Principal Activity The sales and marketing of tea and coffee.

Key Financials

Year to Date Turnover Pre Tax Profit Shareholder Funds Employees

31/03/2014 £70,660,000 £988,000 £4,738,000 253

31/03/2013 £67,724,000 -£661,000 £3,750,000 260

31/03/2012 £67,773,000 -£2,163,000 £4,411,000 277

Mortgage Summary

Total Mortgage 5

Outstanding 1

Satisfied 4

Trade Debtors / Bad Debt Summary

Total Number of Documented Trade 1

Total Value of Documented Trade £333

Commentary

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

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

This company has made late payments on a medium percentage of invoices.

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

This company's bank loans and overdrafts (less cash) account for a moderate percentage of short term liabilities.

This company trades in an industry with a moderate 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	11
Total Current Secretaries	1
Total Previous Directors / Company Secretaries	11

Current Directors

Name	Nadeem Ahmed	Date of Birth	16/03/1955
Officers Title		Nationality	Indian
Present Appointments	7	Function	Director
Appointment Date	20/10/2006
Address	14 Park Village West, London, NW1 4AE

Name	Michael David McBrien	Date of Birth	22/09/1964
Officers Title	Mr	Nationality	British
Present Appointments	23	Function	Director
Appointment Date	20/10/2006
Address	12 Compass Court, 39 Shad Thames, London, SE1 2NJ

Name	Karan Paul	Date of Birth	03/11/1969
Officers Title	Ms	Nationality	Indian
Present Appointments	1	Function	Director
Appointment Date	04/11/2005
Address	13a Alipore Road, Kolkata 700 027, West Bengal

Name	Fahim Ahmed	Date of Birth	30/05/1959
Officers Title	Mr	Nationality	Indian
Present Appointments	2	Function	Director
Appointment Date	23/10/2006
Address	84 Mymms Drive, Brookmans Park, Hatfield, Hertfordshire, AL9 7AB

Name	Maria Tapal	Date of Birth	28/07/1979
Officers Title	Ms	Nationality	Canadian
Present Appointments	1	Function	Director
Appointment Date	20/10/2006
Address	212 401 Po Box, Dubai

Name	Priti Paul	Date of Birth	15/11/1967
Officers Title	Ms	Nationality	Indian
Present Appointments	18	Function	Director
Appointment Date	04/11/2005
Address	Flat Q, 82 Portland Place, London, Greater London, W1B 1NS

Name	Rajendra Agarwal	Date of Birth	17/07/1972
Officers Title	Mr	Nationality	Indian
Present Appointments	11	Function	Director
Appointment Date	26/03/2012
Address	Apeejay House 15 Park St, Kolkata, India, 700016

Name	Ashok Kumar Bhargava	Date of Birth	09/09/1956
Officers Title	Mr	Nationality	Indian
Present Appointments	11	Function	Director
Appointment Date	26/03/2012
Address	Apeejay House 15 Park St, Kolkata, India, 700016

Name	Ashoke Ghosh	Date of Birth	11/11/1956
Officers Title	Mr	Nationality	Indian
Present Appointments	11	Function	Director
Appointment Date	26/03/2012
Address	Apeejay House 15 Park Street, Kolkata, AL2 2PE

Name	Somnath Saha	Date of Birth	20/04/1970
Officers Title	Mr	Nationality	British
Present Appointments	12	Function	Director
Appointment Date	26/03/2012
Address	Pasture Road, Moreton, Wirral, Merseyside, CH46 8XF

Name	Tom Vyner Cbe, Hon Frcp	Date of Birth	21/01/1937
Officers Title	Mr	Nationality	British
Present Appointments	1	Function	Director
Appointment Date	01/03/2014
Address	52 Centurion Building Chelsea Bridge Wharf, 376 Queenstown Road, London, SW8 4NZ

Current Company Secretary

Name	Somnath Saha	Date of Birth	-
Officers Title	Mr	Nationality
Present Appointments	1	Function	Company Secretary
Appointment Date	04/01/2015
Address	Pasture Road, Moreton, Wirral, Merseyside, CH46 8XF

Top 20 Shareholders

Name	Currency	Share Count	Share Type	Nominal Value
INTERNATIONAL BEVERAGES INC.	GBP	13,000,065	ORDINARY	1
FIRST MANAGEMENT SERVICES LTD	GBP	11,028,535	ORDINARY	1
APEEJAY TEA (PANAMA) INC	GBP	7,481,500	ORDINARY	1

Unable to report percentage holdings as filed Shareholder listing is not full.

FINANCIALS

Profit & Loss

	Date Of Accounts	31/03/14	(%)	31/03/13	(%)	31/03/12	(%)	31/03/11	(%)	31/03/10
	Weeks	52	(%)	52	(%)	52	(%)	52	(%)	52
	Currency	GBP	(%)	GBP	(%)	GBP	(%)	GBP	(%)	GBP
	Consolidated A/cs	N	(%)	N	(%)	N	(%)	N	(%)	N
	Turnover	£70,660,000	4.3%	£67,724,000	-0.1%	£67,773,000	10.8%	£61,191,000	-9.3%	£67,472,000
	Export	-	-	-	-	-	-	-	-	-
	Cost of Sales	£51,557,000	0.1%	£51,489,000	-2.1%	£52,589,000	7%	£49,135,000	0.2%	£49,039,000
	Gross Profit	£19,103,000	17.7%	£16,235,000	6.9%	£15,184,000	25.9%	£12,056,000	-34.6%	£18,433,000
	Wages & Salaries	£8,623,000	0.3%	£8,598,000	-3.7%	£8,931,000	-11.6%	£10,108,000	-8.9%	£11,091,000
	Directors Emoluments	£757,000	3.1%	£734,000	7.8%	£681,000	14.1%	£597,000	-22.5%	£770,000
	Operating Profit	£5,099,000	6.5%	£4,787,000	22.9%	£3,896,000	999.9%	-£367,000	-111.7%	£3,145,000
	Depreciation	£1,307,000	12.6%	£1,161,000	2.7%	£1,131,000	1.7%	£1,112,000	-35.7%	£1,729,000
	Audit Fees	£43,000	2.4%	£42,000	-10.6%	£47,000	-7.8%	£51,000	24.4%	£41,000
	Interest Payments	£4,568,000	-26%	£6,173,000	-4.2%	£6,443,000	18%	£5,460,000	12.7%	£4,845,000
	Pre Tax Profit	£988,000	249.5%	-£661,000	69.4%	-£2,163,000	72.1%	-£7,742,000	-181%	-£2,755,000
	Taxation	-£242,000	-126.6%	£910,000	375.8%	-£330,000	-816.7%	-£36,000	41%	-£61,000
	Profit After Tax	£746,000	199.6%	£249,000	110%	-£2,493,000	67.9%	-£7,778,000	-176.2%	-£2,816,000
	Dividends Payable	-	-	-	-	-	-	-	-	-
	Retained Profit	£746,000	199.6%	£249,000	110%	-£2,493,000	67.9%	-£7,778,000	-176.2%	-£2,816,000

Balance Sheet

	Date Of Accounts	31/03/14	(%)	31/03/13	(%)	31/03/12	(%)	31/03/11	(%)	31/03/10
	Tangible Assets	£25,368,000	6%	£23,925,000	-4.7%	£25,101,000	-3.6%	£26,047,000	0.3%	£25,975,000
	Intangible Assets	£64,518,000	-	£64,518,000	0%	£64,543,000	-0.2%	£64,643,000	-0.2%	£64,743,000
	Total Fixed Assets	£89,886,000	1.6%	£88,443,000	-1.3%	£89,644,000	-1.2%	£90,690,000	0%	£90,718,000
	Stock	£12,214,000	13.6%	£10,755,000	8.5%	£9,908,000	6.7%	£9,290,000	10%	£8,446,000
	Trade Debtors	£10,623,000	8.1%	£9,824,000	28.6%	£7,637,000	8.5%	£7,041,000	-10.1%	£7,831,000
	Cash	£802,000	726.8%	£97,000	-53.1%	£207,000	-76.5%	£879,000	30.8%	£672,000
	Other Debtors	£5,156,000	71.4%	£3,008,000	46.9%	£2,047,000	22.7%	£1,668,000	-39.5%	£2,759,000
	Miscellaneous Current Assets	0	-	0	-	0	-	0	-	0
	Total Current Assets	£28,795,000	21.6%	£23,684,000	19.6%	£19,799,000	4.9%	£18,878,000	-4.2%	£19,708,000
	Trade Creditors	£5,206,000	-44.6%	£9,405,000	31.3%	£7,161,000	-22.8%	£9,274,000	11.6%	£8,308,000
	Bank Loans & Overdrafts	£10,814,000	96.7%	£5,499,000	2.5%	£5,364,000	3.2%	£5,199,000	0.9%	£5,155,000
	Other Short Term Finance	£31,968,000	42.6%	£22,413,000	6.3%	£21,084,000	75.5%	£12,014,000	83.9%	£6,532,000
	Miscellaneous Current Liabilities	£9,360,000	-7.7%	£10,143,000	68.7%	£6,012,000	16.6%	£5,155,000	-16%	£6,138,000
	Total Current Liabilities	£57,348,000	20.8%	£47,460,000	19.8%	£39,621,000	25.2%	£31,642,000	21.1%	£26,133,000
	Bank Loans & Overdrafts and LTL	£67,409,000	1.5%	£66,416,000	-6.2%	£70,775,000	-7.5%	£76,551,000	1.9%	£75,132,000
	Other Long Term Finance	£46,106,000	-6.6%	£49,354,000	-6.8%	£52,939,000	-9.3%	£58,397,000	0.8%	£57,930,000
	Total Long Term Liabilities	£56,595,000	-7.1%	£60,917,000	-6.9%	£65,411,000	-8.3%	£71,352,000	2%	£69,977,000

.

Capital & Reserves

	Date Of Accounts	31/03/14	(%)	31/03/13	(%)	31/03/12	(%)	31/03/11	(%)	31/03/10
	Called Up Share Capital	£31,510,000	-	£31,510,000	-	£31,510,000	-	£31,510,000	-	£31,510,000
	P & L Account Reserve	-£32,684,000	3.3%	-£33,799,000	1.9%	-£34,465,000	-6.3%	-£32,429,000	-30.7%	-£24,814,000
	Revaluation Reserve	£5,912,000	-2.1%	£6,039,000	-18%	£7,366,000	-1.7%	£7,493,000	-1.7%	£7,620,000
	Sundry Reserves	-	-	-	-	-	-	-	-	-
	Shareholder Funds	£4,738,000	26.3%	£3,750,000	-15%	£4,411,000	-32.9%	£6,574,000	-54.1%	£14,316,000

Other Financial Items

	Date Of Accounts	31/03/14	(%)	31/03/13	(%)	31/03/12	(%)	31/03/11	(%)	31/03/10
	Net Worth	-£59,780,000	1.6%	-£60,768,000	-1.1%	-£60,132,000	-3.6%	-£58,069,000	-15.2%	-£50,427,000
	Working Capital	-£28,553,000	-20.1%	-£23,776,000	-19.9%	-£19,822,000	-55.3%	-£12,764,000	-98.7%	-£6,425,000
	Total Assets	£118,681,000	5.8%	£112,127,000	2.5%	£109,443,000	-0.1%	£109,568,000	-0.8%	£110,426,000
	Total Liabilities	£113,943,000	5.1%	£108,377,000	3.2%	£105,032,000	2%	£102,994,000	7.2%	£96,110,000
	Net Assets	£4,738,000	26.3%	£3,750,000	-15%	£4,411,000	-32.9%	£6,574,000	-54.1%	£14,316,000

Cash Flow

	Date Of Accounts	31/03/14	(%)	31/03/13	(%)	31/03/12	(%)	31/03/11	(%)	31/03/10
	Net Cashflow from Operations	£312,000	-94.6%	£5,787,000	123.2%	£2,593,000	43.7%	£1,805,000	27.8%	£1,412,000
	Net Cashflow before Financing	-£2,172,000	-142%	£5,176,000	153.8%	£2,039,000	49%	£1,368,000	-26.7%	£1,867,000
	Net Cashflow from Financing	-£2,248,000	58%	-£5,354,000	-105%	-£2,612,000	-126.7%	-£1,152,000	63.1%	-£3,118,000
	Increase in Cash	-£4,420,000	-999.9%	-£178,000	68.9%	-£573,000	-365.3%	£216,000	117.3%	-£1,251,000

Miscellaneous

	Date Of Accounts	31/03/14	(%)	31/03/13	(%)	31/03/12	(%)	31/03/11	(%)	31/03/10
	Contingent Liability	NO	-	NO	-	NO	-	NO	-	NO
	Capital Employed	£61,333,000	-5.2%	£64,667,000	-7.4%	£69,822,000	-10.4%	£77,926,000	-7.6%	£84,293,000
	Number of Employees	253	-2.7%	260	-6.1%	277	-8%	301	1.7%	296
	Accountants
	Auditors	GRANT THORNTON UK LLP
	Auditor Comments	The audit report contains no adverse comments
	Bankers	ICICI BANK UK LIMITED
	Bank Branch Code	30-03-28

Ratios

	Date Of Accounts	31/03/14	31/03/13	31/03/12	31/03/11	31/03/10
	Pre-tax profit margin %	1.40	-0.98	-3.19	-12.65	-4.08
	Current ratio	0.50	0.50	0.50	0.60	0.75
	Sales/Net Working Capital	-2.47	-2.85	-3.42	-4.79	-10.50
	Gearing %	1422.70	1771.10	1604.50	1164.50	524.80
	Equity in %	8.70	7.90	9.80	14.60	31.30
	Creditor Days	26.81	50.54	38.46	55.16	44.82
	Debtor Days	54.72	52.80	41.01	41.88	42.24
	Liquidity/Acid Test	0.28	0.27	0.24	0.30	0.43
	Return On Capital Employed %	1.61	-1.02	-3.09	-9.93	-3.26
	Return On Total Assets Employed %	0.83	-0.58	-1.97	-7.06	-2.49
	Current Debt Ratio	12.10	12.65	8.98	4.81	1.82
	Total Debt Ratio	24.04	28.90	23.81	15.66	6.71
	Stock Turnover Ratio %	17.28	15.88	14.61	15.18	12.51
	Return on Net Assets Employed %	20.85	-17.62	-49.03	-117.76	-19.24

Report Notes

There are no notes to display.

Status History

No Status History found

Event History

Date	Description
22/01/2015	New Company Secretary Mr S. Saha appointed
14/01/2015	Mr K.R. Packer has left the board
08/01/2015	Mr K.R. Packer has resigned as company secretary
05/10/2014	Annual Returns
27/05/2014	New Accounts Filed
27/05/2014	New Accounts Filed
02/04/2014	New Board Member Mr T. Vyner Cbe, Hon Frcp appointed
07/10/2013	Annual Returns
05/10/2013	New Accounts Filed
05/10/2013	New Accounts Filed
27/10/2012	Annual Returns
25/10/2012	New Board Member Mr S. Saha appointed
25/10/2012	New Board Member Mr A. Ghosh appointed
16/08/2012	New Board Member Mr A.K. Bhargava appointed
16/08/2012	New Board Member Mr R. Agarwal appointed

Previous Company Names

Date	Previous Name
01/11/2005	APEEJAY INTERNATIONAL TEA LIMITED

Writ Details

No writs found

Statistics

Group	12 companies
Linkages	0 companies
Countries	In 0 countries

Summary

Holding Company	-
Ownership Status	Intermediately Owned
Ultimate Holding Company	INTERNATIONAL BEVERAGES INC

Group Structure Full

Company Name	Registered Number	Latest Key Financials	Consol. Accounts	Turnover
INTERNATIONAL BEVERAGES INC	N/A	-	-
TYPHOO TEA LIMITED	05573418	31.03.2014	N	£70,660,000
KARDOMAH LIMITED	05599537	31.03.2014	N
THE LONDON FRUIT & H...	05599538	31.03.2014	N
GLENGETTIE TEA COMPA...	05599540	31.03.2014	N
THE LONDON HERB & SP...	05599588	31.03.2014	N
MELROSES LIMITED	05599662	31.03.2014	N
RIDGWAYS LIMITED	05599712	31.03.2014	N
HEATH & HEATHER LIMITED	05653767	31.03.2014	N
LONDON TEA AND PRODU...	05762121	31.03.2014	N
RED MOUNTAIN COFFEE...	05762125	31.03.2014	N
MANTUNNA LIMITED	05796658	31.03.2014	N

Mortgage Details

Mortgage Type:
Date Charge Created:	07/08/14
Date Charge Registered:	22/08/14
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	AXIS BANK UK LIMITED;
Amount Secured:
Details:	F/H PASTURE ROAD, MORETON, WIRRAL MERSEYSIDE T/NO MS515283CONTAINS FIXED CHARGE.CONTAINS FLOATING CHARGE.FLOATING CHARGE COVERS ALL THE PROPERTY OR UNDERTAKINGOF THE COMPANY.CONTAINS NEGATIVE PLEDGE.
Mortgage Type:
Date Charge Created:	18/03/14
Date Charge Registered:	27/03/14
Date Charge Satisfied:	17/09/14
Status:	SATISFIED
Person(s) Entitled:	ICICI BANK UK PLC;
Amount Secured:
Details:	F/H PROPERTY K/A PASTURE ROAD MORETON WIRRAL MERSEYSIDE T/NO. MS515283CONTAINS FIXED CHARGE.CONTAINS FLOATING CHARGE.FLOATING CHARGE COVERS ALL THE PROPERTY ORUNDERTAKING OF THE COMPANY.NOTIFICATIONOF ADDITION TO OR AMENDMENT OF CHARGE.

Mortgage Type:	DEBENTURE
Date Charge Created:	10/12/12
Date Charge Registered:	20/12/12
Date Charge Satisfied:	17/09/14
Status:	SATISFIED
Person(s) Entitled:	ICICI BANK UK PLC;
Amount Secured:
Details:	FIXED AND FLOATING CHARGE OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE, INCLUDING GOODWILL, BOOKDEBTS, UNCALLED CAPITAL, BUILDINGS, FIXTURES, FIXED PLANT & MACHINERY SEE IMAGEFOR FULL DETAILS
Mortgage Type:	AN ACCOUNT SECURITY DEED
Date Charge Created:	10/12/12
Date Charge Registered:	20/12/12
Date Charge Satisfied:	17/09/14
Status:	SATISFIED
Person(s) Entitled:	ICICI BANK UK PLC;
Amount Secured:
Details:	WITH FULL TITLE GUARANTEE CHARGES THE CREDIT BALANCE ON THE COLLECTION ACCOUNT BEING ACCOUNT NUMBER 76184497 AND SORT CODE 30-00-81 BY WAY OF FIRST FLOATING CHARGE SEE IMAGE FOR FULL DETAILS

Mortgage Type:	DEBENTURE
Date Charge Created:	31/10/05
Date Charge Registered:	05/11/05
Date Charge Satisfied:	17/09/14
Status:	SATISFIED
Person(s) Entitled:	ICICI BANK UK LIMITED;
Amount Secured:
Details:	FIXED AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS UNCALLED CAPITAL BUILDINGS FIXTURESFIXED PLANT AND MACHINERYSEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS

Trade Debtors/ Bad Debt Detail

	Total Number of Documented Trade	Total Value of Documented Trade
Trade Debtors	1	£333
Company Name	Amount	Statement Date
Vanguard Distribution Ltd	£333	30/07/2010

Previous Director/Company Secretaries

Name		Current Directorships	Previous Directorships
Philip Stephen Robinson		1	15
Abner Paul Soans		0	11
Keith Richard Packer		2	23
Keith Richard Packer		2	23
SWIFT INCORPORATIONS LIMITED		2579	263489
Terence Edward Parmenter		0	17
Nicholas Bonneywell		0	28
Kelvin Williams		7	7
Deepak Atal		0	1
Marcus Banfield		1	24
Marcus Banfield		1	24
Average Invoice Value	Ł400.08
Invoices available	150
Paid	125
Outstanding	25

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	42	54	13	1	15
Outstanding	8	11	1	0	5

Bottom of Form

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.65.55
UK Pound	1	Rs.99.17
Euro	1	Rs.73.08

INFORMATION DETAILS

Analysis Done by :	KAS
Report Prepared by :	ANK

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.