MIRA INFORM REPORT

 

 

Report No. :

348058

Report Date :

30.10.2015

                       

IDENTIFICATION DETAILS

 

Name :

AAROHI DIAMONDS NV

 

 

Registered Office :

Hoveniersstraat 30-Bus 143 2018 Antwerpen

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

18.09.1986

 

 

Com. Reg. No.:

429469280

 

 

Legal Form :

Public Limited Liability Company (BE)

 

 

Line of Business :

Wholesale of Diamonds and Other Precious Stones.

 

 

No. of Employee :

1

 

 

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)

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 shifts in foreign demand, particularly in Belgium’s EUTRADE partners. Roughly three-quarters of Belgium's trade is with other EU countries. In 2014 Belgian GDP grew by 0.9%, the unemployment rate stabilized at 8.5%, and the the budget deficit was 3.2% of GDP. Prime Minister Charles MICHEL’s center-right government has pledged to further reduce the deficit in response to EU pressure to reduce Belgium’s high public debt, which remains above 100% of GDP, but such efforts could also dampen economic growth. In addition to restrained public spending, low wage growth and high unemployment promise to curtail a more robust recovery in private consumption. The government has pledged to pursue an reform program to improve Belgium’s competitiveness, including changes to tax policy, labor market rules, and welfare benefits. These changes risk worsening tensions with trade unions and triggering extended strikes.

 

Source : CIA

 

Company summary

 

Business number                     429469280

Branche Unit Number               2035078806

Company name                        AAROHI DIAMONDS NV

Address                                   HOVENIERSSTRAAT 30-BUS 143

2018 ANTWERPEN

Number of staff                        1

Date of establishment               18/09/1986

Telephone number

Fax number                              032334638

 

 

Commentary

 

The business was established over 29 years ago.

The business has 1 employees.

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

Operating Result in the latest trading period increased 61% on the previous trading period.

Net Worth increased by 52% during the latest trading period.

The business saw a decrease in their Cash Balance of 41% during the latest trading period.

Working Capital is a negative amount during the latest trading period.

Turnover in the latest trading period increased 24% on the previous trading period.

 

 

Accounts

 

DATE  OF  LATEST  ACCOUNTS

TURNOVER

PROFIT  BEFORE  TAX

NET  WORTH

WORKING  CAPITAL

31/12/2013

21,724,406

71,497

1,403,306

-180,547

31/12/2012

17,397,820

71,288

919,542

-75,701

31/12/2011

7,165,428

75,671

875,562

-46,895

 

ACCOUNTS

 

 

 

 

 

DATE  OF  LATEST  ACCOUNTS

BALANCE  TOTAL

NUMBER  OF  EMPLOYEES

CAPITAL

CASHFLOW

31/12/2013

13,061,907

1

30,987

48,731

31/12/2012

14,876,941

1

30,987

67,517

31/12/2011

6,454,084

0

30,987

93,796

 

 

 

Payment expectations

 

Past  payments

 

Payment  expectation  days

168.42

Industry  average  payment

110.58

Industry  average  day  sales

172.59

expectation  days

 

outstanding

 

Day  sales  outstanding

155.40

 

 

 

 

 

Court data summary

 

BANKRUPTCY DETAILS

Court action type                      No

 

PROTESTED BILLS

Bill amount                              –

 

NSSO DETAILS

Date of summons                     23/02/1999

 

 

Company information

 

Business  number

429469280

Company  name

AAROHI  DIAMONDS  NV

Fax  number

032334638

Date  founded

18/09/1986

Company  status

active

Company  type

Public  Limited  Liability

 

 

 

Company  (BE)

Currency

Euro  (€)

Date  of  latest  accounts

31/12/2013

Activity  code

46761

Liable  for  VAT

yes

Activity  description

Wholesale  of  diamonds  and other  precious  stones

VAT  Number

BE.0429.469.280  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

218

Description

Additional  national  joint  committee  for  the  employees

 

 

 

SIGNIFICANT EVENTS

 

Event Date

28/05/2014

Event Description

 

Event Details

Rechtzetting akte dd. 12 mei 2014. Er dient gelezen te worden: 'Neerlegging van het besluit van de aandeelhouders genomen op 24 april 2014 overeenkomstig artikel 556 van het Wetboek van Vennootschappen' i.p.v. 'Neerlegging van het besluit v

 

 

Event Date

28/05/2014

Event Description

 

Event Details

an de aandeelhouders genomen op 23 april 2014 overeenkomstig artikel 556 van het Wetboek van Vennootschappen'

 

 

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

1,583,852

39.33

1,136,741

0.57

1,130,254

-1.58

1,148,380

-2.13

1,173,377

Intangible  fixed  assets

0

-

0

-

0

-

0

-

0

Tangible  fixed  assets

1,571,852

39.75

1,124,741

-0.49

1,130,254

-1.58

1,148,380

-2.13

1,173,377

Land  &  building

1,550,000

40.08

1,106,532

-1.54

1,123,889

-1.57

1,141,842

-2.13

1,166,668

Plant  &  machinery

11,927

16.04

10,278

-

-

-

-

-

-

Furniture  &  Vehicles

3,904

124

1,737

-

-

-

-

-

-

Leasing  &  Other  Similar  Rights

-

-

-

-

-

-

-

-

-

Other  tangible  assets

6,021

-2.78

6,193

-2.70

6,365

-2.63

6,537

-2.56

6,709

Financial  fixed  assets

12,000

0

12,000

-

-

-

-

-

-

Total  current  assets

11,478,054

-16.46

13,740,199

158

5,323,829

1062

458,089

6.66

429,486

Inventories

2,052,094

-49.63

4,073,987

52.31

2,674,712

-

-

-

-

Raw  materials  &  consumables

-

-

-

-

-

-

-

-

-

Work  in  progress

0

-

0

-

0

-

0

-

0

Finished  goods

0

-

0

-

0

-

0

-

0

Other  stocks

2,052,094

-49.63

4,073,987

52.31

2,674,712

-

0

-

0

Trade  debtors

9,249,478

-1.38

9,378,553

259

2,609,422

483

446,831

7.26

416,597

Other  amounts  receivable

8,900

165

3,347

0

3,347

0

3,347

0

3,347

Cash

161,633

-41.88

278,099

814

30,400

1449

1,962

-45.39

3,593

Miscellaneous  current  assets

5,949

-4.26

6,214

4.45

5,949

0

5,949

0

5,949

Total  Assets

13,061,907

-12.20

14,876,941

130

6,454,084

301

1,606,468

0.22

1,602,863

 

 

LIABILITIES

 

Total  shareholders  equity

1,403,306

52.61

919,542

5.02

875,562

9.46

799,890

7.49

744,173

Issued  share  capital

30,987

0

30,987

0

30,987

0

30,987

0

30,987

Share  premium  account

-

-

-

-

-

-

-

-

-

Revaluation  reserve

1,369,648

51.56

903,684

0

903,684

0

903,684

0

903,684

Reserves

2,671

17.66

-15,128

25.59

-59,109

43.86

-134,780

70.75

-190,498

Provisions  for  Liabilities  &  Charges

0

-

0

-

0

-

0

-

0

Deffered  taxes

-

-

-

-

-

-

-

-

-

Creditors

11,658,601

-16.47

13,957,398

150

5,578,522

591

806,578

-6.07

858,690

Other  long  term  loans

-

-

141,498

-31.91

207,798

-23.41

271,307

-18.32

332,143

Long  term  group  loans

-

-

-

-

-

-

-

-

-

Other  long  term  liabilities

0

-

0

-

0

-

0

-

0

Total  long  term  debts

0

-100

141,498

-31.91

207,798

-23.41

271,307

-18.32

332,143

Current  portion  of  long  term  debt

-

-

66,299

4.39

63,509

4.39

60,836

4.39

58,275

Financial  debts

1,158,245

-7.18

1,247,794

49.49

834,686

13444

6,163

-

-

Trade  creditors

9,958,192

-16.98

11,994,249

201

3,977,032

-

-

-

-

Amounts  Payable  for  Taxes,

28,758

7.07

26,860

-

-

-

-

-

-

Remuneration  &  Social  Security

 

 

 

 

 

 

 

 

 

Miscellaneous  current  liabilities

513,406

6.80

480,699

-2.99

495,497

5.81

468,272

0

468,272

Total  current  liabilities

11,658,601

-15.61

13,815,901

157

5,370,724

903

535,271

1.66

526,547

Total  Liabilities

13,061,907

-12.20

14,876,941

130

6,454,084

301

1,606,468

0.22

1,602,863

 

 

RATIO ANALYSIS

 

TRADING PERFORMANCE

 

Profit  Before  Tax

0.33

-19.51

0.41

-61.32

1.06

-98.57

74.04

107

-69.15

Return  on  capital  employed

5.09

-24.26

6.72

-3.72

6.98

34.23

5.20

107

-4.82

Return  on  total  assets  employed

0.55

14.58

0.48

-58.97

1.17

-66.28

3.47

107

-3.24

Return  on  net  assets  employed

5.09

-34.32

7.75

-10.30

8.64

23.96

6.97

100

-6.97

Sales  /  net  working  capital

-120.33

52.36

-229.82

-50.41

-152.80

-15652

-0.97

-25.97

-0.77

Stock  turnover  ratio

9.45

-59.65

23.42

-37.26

37.33

-

-

-

-

Creditor  days

168.42

-33.41

252.92

22.79

205.97

-

-

-

-

Debtor  days

155.40

-21.02

196.76

48.03

132.92

-93.87

2,167.35

6.90

2,027.44

 

SHORT  TERM  STABILITY

 

Current  ratio

0.98

-1.01

0.99

0

0.99

15.12

0.86

4.88

0.82

Liquidity  ratio  /  acid  ratio

0.81

15.71

0.70

42.86

0.49

-43.02

0.86

4.88

0.82

Current  debt  ratio

8.31

-44.67

15.02

145

6.13

814

0.67

-5.63

0.71

Liquidity  ratio  reprocessed

-

-

-

-

-

-

-

-

-

Cashflow

48,731

-27.82

67,517

-28.02

93,796

16.21

80,715

264

-30,500

Net  worth

1,403,306

52.61

919,542

5.02

875,562

9.46

799,890

7.49

744,173

 

LONG  TERM  STABILITY

 

Gearing

82.54

-47.86

158.30

25.32

126.32

198

42.29

-19.39

52.46

Equity  in  percentage

10.74

73.79

6.18

-54.46

13.57

-72.75

49.79

7.24

46.43

Total  debt  ratio

8.31

-45.26

15.18

138

6.37

530

1.01

-12.17

1.15

Working  capital

-180,547

-138

-75,701

-61.43

-46,895

60.76

-77,182

79.52

-97,061

 

 

PROFIT  &  LOSS

 

Operating  Income

-

-

-

-

-

-

-

-

-

Turnover

21,724,406

24.87

17,397,820

142

7,165,428

9422

75,250

0.33

75,000

Total  operating  expenses

21,581,563

24.68

17,309,118

145

7,047,714

22348

31,395

-69.81

104,000

Gross  Operating  Margin

207,007

61.08

128,514

-9.29

141,672

90.89

74,215

1.65

73,009

Operating  Charges

-

-

-

-

-

-

-

-

-

Employee  costs

26,258

334

6,042

-

-

-

-

-

-

Wages  and  salary

23,198

428

4,391

-

-

-

-

-

-

Employee  pension  costs

-

-

826

-

-

-

-

-

-

Social  security  contributions

2,711

276

720

-

-

-

-

-

-

Other  employee  costs

349

233

105

-

0

-

0

-

0

Director  remuneration

-

-

-

-

-

-

-

-

-

Amortization  and  depreciation

30,931

31.41

23,537

29.86

18,125

-27.49

24,997

16.95

21,375

Operating  result

142,843

61.04

88,703

-24.65

117,715

168

43,855

151

-29,000

Total  financial  income

22

224700

0

-99

1

-99

27,539

24699

111

Total  financial  expenses

71,368

309

17,415

-58.58

42,044

168

15,676

-31.75

22,970

Results  on  ordinary  operations  before

71,497

0.29

71,288

-5.79

75,671

35.81

55,718

107

-51,859

Extraordinary  Income

-

-

-

-

-

-

-

-

-

Extraordinary  Charges

-

-

-

-

-

-

-

-

-

Extraordinary  items

0

-

0

-

0

-

0

-

0

Results  for  the  Year  Before  Taxation

71,497

0.29

71,288

-5.79

75,671

35.81

55,718

107

-51,859

Other  appropriations

-

-

-

-

-

-

-

-

-

Taxation

53,697

96.64

27,307

-

-

-

-

-

17

Results  on  ordinary  operations  after

17,800

-59.53

43,980

-41.88

75,671

35.81

55,718

107

-51,876

taxation

 

 

 

 

 

 

 

 

 

Net  result

17,800

-59.53

43,980

-41.88

75,671

35.81

55,718

107

-51,876

Profit  (Loss)  for  the  Year  to  be

17,800

-59.53

43,980

-41.88

75,671

35.81

55,718

107

-51,876

Dividends

-

-

-

-

-

-

-

-

-

 

 

Social Balance Sheet Details

 

Social  Balance  Sheet

 

Total

During  the  reporting  year

 

ended  31-12-2013

 

Full-time  Employees

1

Part-time  Employees

-

Total  Fte  Employees

1

Number  of  hours  worked

 

Full-time  Employees

1,679

Part-time  Employees

-

Total

1,679

Personnel  Charges

 

Full-time  Employees

26,258

Part-time  Employees

-

Total

26,258

Benefits  In  Addition  To  Wages

-

During  the  previous  reporting  year

 

Average  number  employees  in  Fte

3

Actual  working  hours

-

Personnel  Charges

-

Benefits  In  Addition  To  Wages

-

 

 

Type  of  Contract

 

Full-Time

Part-Time

Total  Fte

Unlimited  Duration

1

-

1

Contracts

 

 

 

Limited  Duration  Contracts

-

-

-

Contracts  For  Specific  Work

-

-

-

Contracts  Regarding

-

-

-

Substitution

 

 

 

 

 

Gender  and  Education

 

 

 

Level

 

 

 

Men

Full-Time

Part-Time

Total  Fte

Primary  education

-

-

-

Secondairy  education

-

-

-

Higher  education  (non university)

-

-

-

Higher  education (university)

-

-

-

Women

Full-Time

Part-Time

Total  Fte

Primary  education

-

-

-

Secondairy  education

1

-

1

Higher  education  (non university)

-

-

-

Higher  education (university)

-

-

-

 

 

Working  Category

 

Full-Time

Part-Time

Total  Fte

Management

-

-

-

White  collar  worker

1

-

1

Blue  collar  worker

-

-

-

Other

-

-

-

 

 

Temporary  personnel

 

Total

Average  number  of  temporary  staff

-

Actual  working  hours

-

Cost  of  temporary  staff

-

 

 

New  staff  and  leavers

 

Full-Time

Part-Time

Total  Fte

New  Starters

-

-

-

Leavers

-

-

-

 

 

Total  of  formal  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  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

46761

Activity  description

Wholesale  of  diamonds  and  other  precious  stones

industry  average  credit rating

64.48

Industry  average  credit  limit

140177.31

 

 

Payment Information

 

 SUSPENSION  OF  PAYMENTS  /  MORATORIUM  HISTORY

 

Amount

-

Details

-

 

 

PAYMENT EXPECTATIONS

 

Payment  expectation  days

168.42

Day  sales  outstanding

155.40

 

 

INDUSTRY COMPARISON

 

Activity  code

46761

Activity  description

Wholesale  of  diamonds  and  other  precious  stones

Industry  average  payment

110.58

expectation  days

 

Industry  average  day  sales

172.59

outstanding

 

 

 

Industry quartile analysis

 

PAYMENT EXPECTATIONS

 

 

Company  result

168.42

Lower

120.34

Median

74.93

Upper

45.40

 

 

DAY SALES OUTSTANDING

 

Company  result

155.40

Lower

106.72

Median

54.51

Upper

24.79

 

 

Shareholder Details

 

SUMMARY

 

Group  -  Number  of  Companies

0

Linkages  -  Number  of  Companies

0

Number  of  Countries

0

 

 

GROUP STRUCTURE

No  group  structure  for  this  company.

 

MINORITY SHAREHOLDERS

No  minority  shareholders  found

 

MINORITY INTERESTS

No  minority  interests  found

 

INDIVIDUAL SHAREHOLDERS

 

Shareholder Name

Forename

Chirag

Middle  name

-

Surname

Ashar

 

 

SHAREHOLDER  DETAILS

 

 

 

Start  date

13/06/2014(estimated)

End  date

-

Percentage  owned

-

 

 

SHAREHOLDER  ADDRESS

 

 

 

Street  name

Prins  Boudewijnlaan

House  number

191

Minor  town

Wilrijk

Postal  town

Antwerpen

Post  code

2610

Country

Belgium

 

 

COMPANIES THAT MATCH THIS ADDRESS

No Companies Match this address

 

 

Linked Companies

 

SUMMARY

 

Group  -  Number  of  Companies

0

Linkages  -  Number  of  Companies

0

Number  of  Countries

0

 

 

SUMMONS

 

Legal  event  type

Social  Security  Summons

Event  date

23/02/1999

Court  type

Court  name

Creditor's  name

3rd  party  type

 

 

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

 

Position

Managing  Director

Start  Date

13/04/2006

Street

191 PRINS  BOUDEWIJNLAAN  ANTWERPEN

Post  code

2610

Country

Belgium

Name

CHIRAG  ASHOK  ASHAR

Position

Director

Start  Date

13/04/2006

Street

191 PRINS  BOUDEWIJNLAAN  ANTWERPEN

Post  code

2610

Country

Belgium

Name

BHAVANA  ASHAR

Position

Director

Start  Date

09/06/2006

Street

18 EEKHOORNLAAN  ANTWERPEN

Post  code

2610

Country

Belgium

 

 

FORMER DIRECTOR DETAILS

 

Name

KAUSHIK  CHANDRAKANT  BHANSALI

Position

Managing  Director

Start  Date

09/06/2006

End  Date

Unknown  date

Street

18 EEKHOORNLAAN  ANTWERPEN

Post  code

2610

Country

Belgium

Position

Director

Start  Date

13/04/2006

End  Date

24/02/2015

Street

18 EEKHOORNLAAN  ANTWERPEN

Post  code

2610

Country

Belgium

Name

RAJNIKANT  SHANTILAL  MEHTA

Position

Director

Start  Date

25/08/1999

End  Date

Unknown  date

Street

37 ZINKHOEVELAAN  ANTWERPEN

Post  code

2610

Country

Belgium

Name

BART  FILIP  GERARD  MEYNENDONCKX

Position

Commissioner

Start  Date

21/08/1998

End  Date

Unknown  date

Date  of  birth

31/08/1957

Street

40 BREDEHEIDE  SINT-KATELIJNE-WAVER

Post  code

2860

Country

Belgium

 

 

DIAMOND INDUSTRY – INDIA

 

-            From time immemorial, India is well known in the world as the birthplace for diamonds.  It is difficult to trace the origin of diamonds but history says that in the remote past, diamonds were mined only in India. Diamond production in India can be traced back to almost 8th Century B.C.  India, in fact, remained undisputed leader till 18th Century when Brazilian fields were discovered in 1725 followed by emergence of S. Africa, Russia and Australia.

-            The achievement of the Indian diamond industry was possible only due to combination of the manufacturing skills of the Indian workforce and the untiring and unflagging efforts of the Indian diamantaires, supported by progressive Government policies.

-            The area of study of family owned diamond businesses derives its importance from the huge conglomerate of family run organizations which operate in the diamond industry since many generations.

-            Some of the basic traits of family run business enterprises include spirit of entrepreneurship, mutual trust lowers transaction costs, small, nimble and quick to react, information as a source of advantage and philanthropy.

-            Family owned diamond businesses need to improve on many fronts including higher standard of corporate governance, long-term performance – focused strategies, modern management and technology.

-            Utmost caution is to be exercised while dealing with some medium and large diamond traders which are usually engaged in fictitious import – export, inter-company transactions, financially assisted by banks. In the process, several public sector banks lost several hundred million rupees. They mostly diverted borrowed money for diamond business into real estate and capital markets.

-            Excerpts from Times of India dated 30th October 2010 is as under –

-            Gem & Jewellery Export Promotion Council in its statistical data has shown the export of polished diamonds to have increase by 28 % in February 2013. Compared to $ 1.4 bn worth of polished diamond export in February, 2012, India exported $ 1.84 billion worth of polished diamonds in February 2013. A senior executive of GJEPC said, “Export of cut and polished diamonds started falling month-wise after the imposition of 2 % of import duty on the polished diamonds. But February, 2013 has given a new ray of hope to the industry as the export of polished diamonds has actually increased by 28 %. It means the industry  is on the track of recovery and round tripping of diamonds has stopped completely.” Demand has started coming from the US, the UK, Japan and China. India’s polished diamond export is expected to cross $ 21 bn in 2013-14.

-            The banking sector has started exercising restraint while following prudent risk management norms when lending money to gems and jewellery sector. This follows the implementation of Basel III accord – a global voluntary regulatory standard on bank capital adequacy, stress testing and market liquidity.


 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.65.15

UK Pound

1

Rs.99.36

Euro

1

Rs.71.25

 

INFORMATION DETAILS

 

Analysis Done by :

KIN

 

 

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.