MIRA INFORM REPORT
|
Report No. : |
344932 |
|
Report Date : |
12.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
MAGAZIJN "DE BIJENKORF" B.V. |
|
|
|
|
Registered Office : |
Hoogoorddreef 11, 1101BA Amsterdam |
|
|
|
|
Country : |
Netherlands |
|
|
|
|
Financials (as on) : |
2015 |
|
|
|
|
Date of Incorporation : |
22.11.1965 |
|
|
|
|
Com. Reg. No.: |
KvK-nummer: 33116577 |
|
|
|
|
Legal Form : |
Besloten Vennootschap |
|
|
|
|
Line of Business : |
|
|
|
|
|
No. of Employee : |
267 |
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Netherlands |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
NETHERLANDS - ECONOMIC OVERVIEW
The Netherlands, the sixth-largest economy in the European Union, plays an important role as a European transportation hub, with a persistently high trade surplus, stable industrial relations, and moderate unemployment. Industry focuses on food processing, chemicals, petroleum refining, and electrical machinery. A highly mechanized agricultural sector employs only 2% of the labor force but provides large surpluses for food-processing and underpins the country’s status as the world’s second largest agricultural exporter. The Netherlands is part of the Eurozone, and as such, its monetary policy is controlled by the European Central Bank. The Dutch financial sector is highly concentrated, with four commercial banks possessing over 90% of banking assets. The sector suffered as a result of the global financial crisis and required billions of dollars of government support, but the European Banking Authority completed stringent reviews in 2014 and deemed Dutch banks to be well-capitalized. To address the 2009 and 2010 economic downturns, the government sought to stimulate the domestic economy by accelerating infrastructure programs, offering corporate tax breaks for employers to retain workers, and expanding export credits. The stimulus programs and bank bailouts, however, resulted in a government budget deficit of 5.3% of GDP in 2010 that contrasted sharply with a surplus of 0.7% in 2008. The government of Prime Minister Mark RUTTE has since implemented significant austerity measures to improve public finances and has instituted broad structural reforms in key policy areas, including the labor market, the housing sector, the energy market, and the pension system. As a result, the government budget deficit at the end of 2014 dropped to 1.8% of GDP. Following a protracted recession during which unemployment doubled to 7.4% and household consumption contracted for nearly three consecutive years, the year 2014 saw fragile GDP growth of 0.8 percent and a rise in most economic indicators. Drivers of growth included increased exports and business investments, as well as newly invigorated household consumption.
|
Source
: CIA |
Company
Name
MAGAZIJN "DE
BIJENKORF" B.V.
Summary
|
Company name |
Magazijn "De Bijenkorf" B.V. |
|
Operative address |
Hoogoorddreef 11 |
|
|
1101BA Amsterdam |
|
|
Netherlands |
|
|
|
|
Legal form |
Besloten Vennootschap |
|
Registration number |
KvK-nummer: 33116577 |
|
VAT-number |
003177397 |
|
Year |
2015 |
Mutation |
2014 |
Mutation |
2013 |
|
Fixed assets |
322.247.000 |
1,64 |
317.050.000 |
-0,94 |
320.065.000 |
|
|
|
|
|
|
|
|
Total receivables |
8.735.000 |
0,55 |
8.687.000 |
-7,78 |
9.420.000 |
|
|
|
2,28 |
|
18,42 |
|
|
Total equity |
262.002.000 |
|
256.163.000 |
|
216.309.000 |
|
Short term liabilities |
121.226.000 |
1,12 |
119.878.000 |
-13,73 |
138.964.000 |
|
|
|
|
|
|
|
|
Net result |
10.628.000 |
39,24 |
7.633.000 |
-39,07 |
12.527.000 |
|
|
|
|
|
|
|
|
Working capital |
-22.098.000 |
15,71 |
-26.218.000 |
64,22 |
-73.266.000 |
|
|
|
|
|
|
|
|
Quick ratio |
0,43 |
22,86 |
0,35 |
191,67 |
0,12 |
Contact
information
|
Company name |
Magazijn "De Bijenkorf" B.V. |
|
Trade names |
Magazijn "De Bijenkorf" B.V. Chill Out |
|
Operative address |
Hoogoorddreef 11 |
|
|
1101BA Amsterdam |
|
|
Netherlands |
|
Correspondence address |
Postbus 12870 |
|
|
1100AW Amsterdam |
|
|
Netherlands |
|
Telephone number |
0882454000 |
|
Email address |
info@debijenkorf.nl |
Registration
|
Registration number |
KvK-nummer: 33116577 |
|
Registered in |
Kamer van Koophandel Amsterdam |
|
Branch number |
000020138369 |
|
VAT-number |
003177397 |
|
Status |
Active |
|
First registration company register |
1965-11-22 |
|
Memorandum |
1965-11-22 |
|
Establishment date |
1965-11-22 |
|
Legal form |
Besloten Vennootschap |
|
Legal person since |
1972-05-03 |
|
Last proposed admendment |
2012-02-22 |
|
Issued placed capital |
EUR 916.700 |
|
Paid up share capital |
EUR 916.700 |
Activities
|
SBI |
47191: Super stores |
|
|
70102: Holding companies (not financial) |
|
Exporter |
No |
|
Importer |
No |
|
Goal |
Warenhuisbedrijf, alsmede de groothandel in gedistilleerd in
alkoholhoudende en alkoholvrije |
|
|
dranken |
Relations
|
Shareholders |
St. Clair B.V. Hoogoorddreef 11 1101BA AMSTERDAM Netherlands Registration number: 51791714 Percentage: 100% |
|
|
|
|
Companies on same address |
Stichting Management V&D Registration number: 34285932 Stichting Cultureel Erfgoed de Bijenkorf Registration number: 34386838 St. Clair B.V. Registration number: 51791714 |
|
Liability statements |
St. Clair B.V. Hoogoorddreef 11 1101BA AMSTERDAM Netherlands Registration number: 51791714 date of issue: 2011-06-08 Starting date: 2011-04-05 |
Bank
details
|
Accounts |
ABN Amro Bank NV Account number: 54.02.14.914 BIC: ABNANL2A |
Management
|
Active management |
G.B. Colauto Giovanni Battista Netherlands Competence: Fully authorized Function: Manager Starting date: 2001-05-14 Date of birth: 1964-04-02, Amsterdam, NL Involved with the following companies: St. Clair B.V. Hoogoorddreef 11 1101BA AMSTERDAM Netherlands Registration number: 51791714 Function: Manager R.H. Bohemen Robert Hartog Netherlands Competence: Limited authorization Function: Manager Starting date: 2007-06-01 Date of birth: 1967-04-07, Groningen, NL S. Lenderink Susan Netherlands Competence: Fully authorized Function: Manager Starting date: 2012-07-25 Date of birth: 1977-08-30, Warnsveld, NL Involved with the following companies: St. Clair B.V. Hoogoorddreef 11 1101BA AMSTERDAM Netherlands Registration number: 51791714 Function: Manager R.V.P. de Kok Ramon Victor Pieter Netherlands Competence: Limited authorization Function: Manager Starting date: 2012-08-20 Date of birth: 1971-03-04, Borsele, NL C.P. Heij Cornelis Pieter Netherlands Competence: Limited authorization Function: Manager Starting date: 2013-03-01 Date of birth: 1973-05-02, Amsterdam, NL C.J. Brant Christopher James Netherlands Competence: Limited authorization Function: Manager Starting date: 2013-09-01 Date of birth: 1975-01-25, Nottingham, GB A.C. Winstanley Allan Christopher Netherlands Competence: Limited authorization Function: Proxy Starting date: 2014-04-22 Date of birth: 1959-12-05, Wigan, GB |
Employees
|
Year |
2015 |
2013 |
|
Total |
267 |
4100 |
Payments
|
Score |
6,18 |
|
Description |
No Complaints |
Key
figures
|
Year |
2015 |
2014 |
2013 |
2012 |
2011 |
|
Quick ratio |
0,43 |
0,35 |
0,12 |
0,25 |
0,10 |
|
Current ratio |
0,82 |
0,78 |
0,47 |
0,54 |
0,40 |
|
Working capital/ balance
total |
-0,05 |
-0,06 |
-0,19 |
-0,18 |
-0,23 |
|
Equity / balance
total |
0,62 |
0,62 |
0,56 |
0,52 |
0,49 |
|
Equity / Fixed
assets |
0,81 |
0,81 |
0,68 |
0,66 |
0,57 |
|
Equity / liabilities |
1,64 |
1,66 |
1,28 |
1,08 |
0,95 |
|
Balance total /
liabilities |
2,64 |
2,66 |
2,28 |
2,08 |
1,95 |
|
Working capital |
-22.098.000 |
-26.218.000 |
-73.266.000 |
-77.157.000 |
-94.359.000 |
|
Equity |
262.002.000 |
256.163.000 |
216.309.000 |
218.432.000 |
198.674.000 |
|
Mutation equity |
2,28 |
18,42 |
-0,97 |
9,94 |
|
|
Mutation short term
liabilities |
1,12 |
-13,73 |
-16,89 |
6,99 |
|
|
Return on total
assets (ROA) |
3,38 |
2,19 |
4,63 |
6,18 |
-0,08 |
|
Return on equity
(ROE) |
5,44 |
3,50 |
8,26 |
11,89 |
-0,16 |
|
Gross profit margin |
3,69 |
2,31 |
4,45 |
6,47 |
|
|
Net profit margin |
2,70 |
1,88 |
3,06 |
4,70 |
|
|
Average collection ratio |
3,25 |
3,39 |
2,94 |
2,49 |
|
|
Average payment ratio |
45,14 |
46,79 |
43,44 |
38,31 |
|
|
Equity turnover ratio |
1,51 |
1,59 |
1,89 |
1,90 |
|
|
Total assets turnover
ratio |
0,94 |
0,99 |
1,06 |
0,99 |
|
|
Fixed assets turnover
ratio |
1,22 |
1,28 |
1,28 |
1,26 |
|
|
Inventory conversion ratio |
8,30 |
7,93 |
8,36 |
8,55 |
|
|
Turnover |
394.339.000 |
406.462.000 |
409.216.000 |
415.592.000 |
|
|
Gross margin |
205.187.000 |
207.004.000 |
206.435.000 |
201.356.000 |
|
|
Operating result |
14.541.000 |
9.400.000 |
18.230.000 |
26.899.000 |
-327.000 |
|
Net result after
taxes |
10.628.000 |
7.633.000 |
12.527.000 |
19.517.000 |
-327.000 |
|
Cashflow |
29.159.000 |
|
|
|
|
|
EBIT |
14.541.000 |
9.400.000 |
18.230.000 |
26.899.000 |
-327.000 |
|
EBITDA |
33.072.000 |
|
|
|
|
Summary
The 2015 financial result structure is a negative working captial of -22.098.000 euro, which is
in agreement with -5 % of the total assets of the company.
The working capital has increased with 15.71 % compared to previous year. The ratio, with respect to the total assets of the company has however, increased.
The improvement between 2014 and 2015 has mainly been caused by an increase of the current assets.
The current ratio of the company in 2015 was 0.82. When the current ratio is below 1.5, the company may have problems meeting its short-term obligations.
The quick ratio in 2015 of the company was 0.43. A company with a Quick Ratio of less than 1 cannot currently pay back its current liabilities.
The 2014 financial result structure is a negative working captial of -26.218.000 euro, which is in agreement with -6 % of the total assets of the company.
The working capital has increased with 64.22 % compared to previous year. The ratio, with
respect to the total assets of the company has however, increased. The improvement between 2013 and 2014 has mainly been caused by an increase of the current assets.
The current ratio of the company in 2014 was 0.78. When the current ratio is below 1.5, the company may have problems meeting its short-term obligations.
The quick ratio in 2014 of the company was 0.35. A company with a Quick Ratio of less than 1 cannot currently pay back its current liabilities.
Financial
statement
|
Last annual account |
2015 |
|
Remark annual account |
The financial statements shown in the report relate to the consolidated
financial statements of the group. |
|
|
|
|
Type of annual account |
Consolidated |
|
Annual account |
St. Clair B.V. Hoogoorddreef 11 1101BA AMSTERDAM Netherlands Registration number: 51791714 |
Balance
|
Year |
2015 |
2014 |
2013 |
2012 |
2011 |
|
End date |
2015-01-31 |
2014-02-01 |
2013-02-02 |
2012-01-28 |
2011-01-31 |
|
Intangible fixed assets |
254.426.000 |
254.264.000 |
252.928.000 |
252.331.000 |
252.009.000 |
|
Tangible fixed assets |
67.745.000 |
62.580.000 |
66.770.000 |
65.934.000 |
71.935.000 |
|
Financial fixed assets |
76.000 |
206.000 |
367.000 |
11.687.000 |
21.772.000 |
|
Fixed assets |
322.247.000 |
317.050.000 |
320.065.000 |
329.952.000 |
345.716.000 |
|
Total stock |
47.519.000 |
51.241.000 |
48.970.000 |
48.630.000 |
45.921.000 |
|
Accounts receivable |
61.000 |
28.000 |
224.000 |
27.000 |
70.000 |
|
Other receivables |
8.674.000 |
8.659.000 |
9.196.000 |
10.822.000 |
7.641.000 |
|
Total receivables |
8.735.000 |
8.687.000 |
9.420.000 |
10.849.000 |
7.711.000 |
|
Liquid funds |
42.874.000 |
33.732.000 |
7.308.000 |
30.565.000 |
8.287.000 |
|
Current assets |
99.128.000 |
93.660.000 |
65.698.000 |
90.044.000 |
61.919.000 |
|
Total assets |
421.375.000 |
410.710.000 |
385.763.000 |
419.996.000 |
407.635.000 |
|
Total equity |
262.002.000 |
256.163.000 |
216.309.000 |
218.432.000 |
198.674.000 |
|
Provisions |
26.577.000 |
29.131.000 |
21.604.000 |
27.423.000 |
32.270.000 |
|
Long term interest
yielding debt |
11.570.000 |
5.538.000 |
8.886.000 |
6.940.000 |
20.413.000 |
|
Long term liabilities |
11.570.000 |
5.538.000 |
8.886.000 |
6.940.000 |
20.413.000 |
|
Accounts payable |
83.520.000 |
85.730.000 |
94.207.000 |
|
|
|
Other short term
liabilities |
37.706.000 |
34.148.000 |
44.757.000 |
|
|
|
Short term liabilities |
121.226.000 |
119.878.000 |
138.964.000 |
167.201.000 |
156.278.000 |
|
Total short and
long term liabilities |
159.373.000 |
154.547.000 |
169.454.000 |
201.564.000 |
208.961.000 |
|
Total liabilities |
421.375.000 |
410.710.000 |
385.763.000 |
419.996.000 |
407.635.000 |
Summary
The total assets of the company increased with 2.6 % between 2014 and
2015.
The fixed asset growth of 1.64 % is lower than the total asset growth. The
asset growth has mainly been financed by a debt increase of 3.12 %. The Net
Worth, however, grew with 2.28 %.
In 2015 the assets of the company were 76.48 % composed of fixed assets
and 23.52 % by current assets. The assets are being financed by an equity of
62.18 %, and total debt of 37.82 %.
The total assets of the company increased with 6.47 % between 2013 and
2014. The total assets are entirely composed of current assets.
The assets growth has been financed by a Net Worth increase of 18.42 %. The
company's net increase has also covered a reduction of -8.8 % of the company's
indebtedness. In 2014 the assets of the company were 77.2 % composed of fixed
assets and 22.8 % by current assets. The assets are being financed by an equity
of 62.37 %, and total debt of 37.63 %.
Profit and loss
|
Year |
2015 |
2014 |
2013 |
2012 |
2011 |
|
Revenues |
394.339.000 |
406.462.000 |
409.216.000 |
415.592.000 |
|
|
Net turnover |
394.339.000 |
406.462.000 |
409.216.000 |
415.592.000 |
|
|
Gross margin |
205.187.000 |
207.004.000 |
206.435.000 |
201.356.000 |
|
|
Wages and salaries |
90.341.000 |
88.867.000 |
90.677.000 |
|
|
|
Amorization and depreciation |
18.531.000 |
|
|
|
|
|
Sales |
189.152.000 |
199.458.000 |
202.781.000 |
174.457.000 |
|
|
other operating costs |
81.774.000 |
108.737.000 |
97.528.000 |
|
|
|
Operating expenses |
379.798.000 |
397.062.000 |
390.986.000 |
388.693.000 |
327.000 |
|
Operating result |
14.541.000 |
9.400.000 |
18.230.000 |
26.899.000 |
-327.000 |
|
Financial income |
|
37.000 |
|
|
|
|
Financial expenses |
283.000 |
462.000 |
364.000 |
929.000 |
|
|
Financial result |
-283.000 |
-425.000 |
-364.000 |
-929.000 |
|
|
Result on ordinary
operations before taxes |
14.258.000 |
8.975.000 |
17.866.000 |
25.970.000 |
-327.000 |
|
Taxation on the
result of ordinary
activities |
3.630.000 |
1.342.000 |
5.339.000 |
6.453.000 |
|
|
Result of ordinary
activities after taxes |
10.628.000 |
7.633.000 |
12.527.000 |
19.517.000 |
-327.000 |
|
Net result |
10.628.000 |
7.633.000 |
12.527.000 |
19.517.000 |
-327.000 |
Summary
The turnover of the company decreased by -2.98 % between 2014 and 2015.
The gross profit of the company has remained the same between 2014 and 2015. The operating result of the company grew with 54.69 % between 2014 and 2015. This evolution implies an increase of the company's economic profitability. The result of these changes is an increase of the company's Economic Profitability of 54.34 % of the analysed period, being equal to 3.38 in the year 2015.
Despite the growth the assets turnover decreased, whose index evolved with -5.05 % to a level of 0.94.
The Net Result of the company increased by 39.24 % between 2014 and 2015. The company's Financial Profitability has been negatively affected by the financial activities in comparison to the EBITs behaviour. The result of these variations is a profitability reduction of 55.43 % of the analysed period, being 5.44 in the year 2015.
The company's financial structure has slowed down its financial profitability.
The turnover of the company remained the same between 2013 and 2014. The gross profit of the company has remained the same between 2013 and 2014. The operating result of the company declined with -48.44 % between 2013 and 2014. This evolution implies an decrease of the company's economic profitability. The result of these changes is a reduction of the company's Economic Profitability of -52.7 %
of the analysed period, being equal to 2.19 in the year 2014.
This fall has contributed to a asset turnover decrease, whose index evolved from -6.6 to a level of 0.99.
The Net Result of the company decreased by -39.07 % between 2013 and 2014. The company's Financial Profitability has been positively affected by the financial activities in comparison to the EBITs behaviour. The result of these variations is a profitability increase of -57.63 % of the analysed period, being 3.5 in the year 2014.
The company's financial profitability has been positively affected by its financial structure.
Analysis
|
Branch (SBI) |
Retail trade (not in motor vehicles) (SBI code 47) |
|
Region |
Groot Amsterdam |
|
Summary |
In the Netherlands 120043 of the companies are registered with the SBI code 47 In the region Groot Amsterdam 11502 of the companies are registered with the SBI code 47 In the Netherlands 2540 of the bankrupcties are published within this sector In the region Groot Amsterdam 220 of the bankruptcies are published within this sector The risk of this specific sector in the Netherlands is normal The risk of this specific sector in the region Groot Amsterdam is normal |
Publications
|
Consent statements |
16-03-2015: Voor boekjaar 2014 is een instemmingsverklaring gedeponeerd. 07-05-2013: Voor boekjaar 2013 is een instemmingsverklaring gedeponeerd. 11-05-2012: Voor boekjaar 2012 is een instemmingsverklaring gedeponeerd. |
|
Functions |
10-04-2015: Per 01-09-2013 is gevolmachtigde Christopher James Brant in functie getreden. 13-03-2015: Per 01-02-2014 is bestuurder Edo Beukema uit functie getreden. 13-03-2015: Per 30-06-2014 is gevolmachtigde Michiel Reinder Folkers uit functie getreden. 13-03-2015: Per 01-07-2013 is gevolmachtigde Nicolaas Johannes Wartenbergh uit functie getreden. 12-03-2015: Per 22-04-2014 is gevolmachtigde Allan Christopher Winstanley in functie getreden. 12-03-2015: Per 01-03-2013 is gevolmachtigde Cornelis Pieter Heij in functie getreden. 12-03-2015: Per 20-08-2012 is gevolmachtigde Ramon Victor Pieter de Kok in functie getreden. 03-09-2012: Per 25-07-2012 is bestuurder Susan Lenderink in functie getreden. 04-06-2012: Per 01-03-2012 is gevolmachtigde Michiel Reinder Folkers in functie getreden. 01-05-2012: Per 30-11-2009 is gevolmachtigde Hendrika Johanna van den Oever uit functie getreden. 01-05-2012: Per 31-12-2009 is gevolmachtigde Jochen Runkel uit functie getreden. 01-05-2012: Per 11-10-2011 is gevolmachtigde Maria Clara Baauw uit functie getreden. 01-05-2012: Per 15-06-2011 is gevolmachtigde Catharina Elisabeth Adriana Maria Potting uit functie getreden. 01-05-2012: Per 31-10-2010 is gevolmachtigde Jacobus van der Steen uit functie getreden. 20-04-2012: Per 31-03-2012 is gevolmachtigde Agnes Schrijver uit functie getreden. 18-04-2012: Per 12-04-2012 is bestuurder Jacob Cornelio Adriano de Jonge uit functie getreden. |
|
Mergers |
13-10-2011: Op 06-10-2011 fusieakte verleden. Verkrijgende rechtspersoon: Magazijn "De |
|
|
Bijenkorf" B.V., 33116577 Verdwijnende rechtspersoon: W.F.R.G. Holdings B.V., 51853906. |
|
Amendments |
24-02-2012: Per 22-2-2012 statuten gewijzigd. |
Company structure
|
|
|
|
Relations |
3 |
|
|
|
|
Company |
Registration |
|
|
number |
|
Selfridges Investments S.à
r.l. (L -
1610 Luxemburg) |
|
|
| - -
St. Clair B.V.
(AMSTERDAM) |
51791714 |
|
| - -
| - -
Magazijn "De Bijenkorf" B.V.
(Amsterdam) |
33116577 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.78 |
|
|
1 |
Rs.99.54 |
|
Euro |
1 |
Rs.73.08 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
ASH |
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.