MIRA INFORM REPORT

 

 

Report No. :

340004

Report Date :

11.09.2015

 

IDENTIFICATION DETAILS

 

Name :

BS&B SAFETY SYSTEMS LIMITED

 

 

Registered Office :

4 Michael Street Limerick 999938

 

 

Country :

Ireland

 

 

Financials (as on) :

30.06.2014

 

 

Date of Incorporation :

18.06.1974

 

 

Com. Reg. No.:

IE048049

 

 

Legal Form :

Not Available

 

 

Line of Business :

The  manufacture  and  sale  of  mechanical  pressure  relief  devices  and  safety  systems  for  process .

 

 

No. of Employees :

100 (30.06.20145)

 

 

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 :

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)

Ireland

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 


 

IRELAND - ECONOMIC OVERVIEW

 

Ireland is a small, modern, trade-dependent economy. Ireland was among the initial group of 12 EU nations that began circulating the euro on 1 January 2002. GDP growth averaged 6% in 1995-2007, but economic activity dropped sharply during the world financial crisis and the subsequent collapse of its domestic property market and construction industry. Faced with sharply reduced revenues and a burgeoning budget deficit from efforts to stabilize its fragile banking sector, the Irish Government introduced the first in a series of draconian budgets in 2009. These measures were not sufficient to stabilize Ireland’s public finances. In 2010, the budget deficit reached 32.4% of GDP - the world's largest deficit, as a percentage of GDP. In late 2010, the former COWEN government agreed to a $92 billion loan package from the EU and IMF to help Dublin recapitalize Ireland’s banking sector and avoid defaulting on its sovereign debt. In March 2011, the KENNY government intensified austerity measures to meet the deficit targets under Ireland's EU-IMF bailout program. In late 2013, Ireland formally exited its EU-IMF bailout program, benefiting from its strict adherence to deficit-reduction targets and success in refinancing a large amount of banking-related debt. In 2014, the economy rapidly picked up and GDP grew by 3.6%. The recovering economy assisted lowering the deficit to 4.2% of GDP. In late 2014, the government introduced a fiscally neutral budget, marking the end of the austerity program. In the wake of the collapse of the construction sector and the downturn in consumer spending and business investment, the export sector, dominated by foreign multinationals, has become an even more important component of Ireland's economy. Ireland’s low corporation tax of 12.5% has been central to encouraging business investment. Loose tax residency requirements made Ireland a common destination for international firms seeking to avoid taxation. Amid growing international pressure the government announced it would phase in more stringent tax laws, effectively closing a loophole.

 

Source : CIA

 

Company Name

 

BS&B SAFETY SYSTEMS LIMITED

 

 

Company No

 

IE048049

 

 

Company Status

 

Active - Accounts Filed

 

 

Registered Address

 

4 MICHAEL STREET

LIMERICK

999938

 

 

Company  Summary

 

Registered  Address

4 MICHAEL  STREET

Trading  Address

RAHEEN

 

LIMERICK

 

LIMERICK

 

999938

 

LIMERICK

 

 

 

376801

Website  Address

-

 

 

Telephone  Number

061227022

Fax  Number

 

TPS

No

FPS

No

Incorporation  Date

18/06/1974

 

 

Previous  Name

 

Type

Other

 

 

FTSE  Index

-

Date  of  Change

-

Filing  Date  of  Accounts

-

Currency

EUR

Share  Capital

€113,665

SIC07

 

Charity  Number

-

SIC07  Description

 

Principal  Activity

The  manufacture  and  sale  of  mechanical  pressure  relief  devices  and  safety  systems  for  process  and energy  facilities  together  with  the  development  and  exploitation  of  related  intellectual  property  rights.

 


Key  Financials

 

Year  to  Date

Turnover

Pre  Tax  Profit

Shareholder

Funds  Employees

30/06/2014

-

€3,162,831

€15,115,702

100

30/06/2013

-

€4,089,271

€14,051,928

100

30/06/2012

-

€3,700,134

€11,382,679

-

 

 

Mortgage  Summary

 

Total  Mortgage

5

Outstanding

4

Satisfied

1

 

 

Debtors  /  Bad  Debt  Summary

 

Total  Number  of  Documented  Trade

0

Total  Value  of  Documented  Trade

€0

 

 

Commentary

 

No exact match CCJs are recorded against the company.

Net Worth increased by 10.3% during the latest trading period.

A 1.9% growth in Total Assets occurred during the latest trading period.

The company saw an increase in their Cash Balance of 3.8% during the latest trading period.

 

 

CJ

 

Total  Number  of  Exact  CJs  -

0

Total  Value  of  Exact  CJs  -

€0

Total  Number  of  Possible  CJs  -

0

Total  Value  of  Possible  CJs  -

€0

Total  Number  of  Satisfied  CJs  -

0

Total  Value  of  Satisfied  CJs  -

€0

 

Total  Current  Directors

3

Total  Current  Secretaries

1

Total  Previous  Directors  /  Company Secretaries

12

 

 

Current  Directors

 

Name

MICHAEL  CONNOLLY

Date  of  Birth

12/09/1965

Officers  Title

 

Nationality

 

Present  Appointments

8

Function

Director

Appointment  Date

10/11/2000

 

Address

CRANNAC,  NORTH  CIRCULAR  ROAD,  LIMERICK 000

 

 

 

 

Officers  Title

 

Nationality

 

Present  Appointments

9

Function

Director

Appointment  Date

23/03/2006

 

 

Address

2 KILQUADE  HILL,  KILQUADE,  CO  WICKLOW

 

 

 

 

Name

NIALL  CONSIDINE

Date  of  Birth

12/07/1978

Officers  Title

 

Nationality

 

Present  Appointments

9

Function

Director

Appointment  Date

27/06/2012

 

 

Address

36 SPRINGFIELD  CRESCENT,  ROSSMORE  VILLAGE,  DUNDRUM  ROAD,  TIPPERARY

 

 

Current  Company  Secretary

 

Name

MICHAEL  CONNOLLY

Date  of  Birth

12/09/1965

Officers  Title

 

Nationality

 

Present  Appointments

8

Function

Company  Secretary

Appointment  Date

29/07/2009

 

 

Address

CRANNAC,  NORTH  CIRCULAR  ROAD,  LIMERICK

 

 

Top  20  Shareholders

 

Name

Currency  

Share  Count  

Share  Type   

Nominal  Value

% of  Total  Share  Count

SHERINA  ENTERPRISES  LIMITED

EUR

89,500

ORDINARY

1.27

100

 

 

Profit  &  Loss

 

Date  Of

30/06/14

(%)

30/06/13

(%)

30/06/12

(%)

30/06/11

(%)

30/06/10

Accounts

 

 

 

 

 

 

 

 

 

Weeks

52

(%)

52

(%)

52

(%)

52

(%)

52

Currency

EUR

(%)

EUR

(%)

EUR

(%)

EUR

(%)

EUR

Consolidated

 

 

 

 

 

 

 

 

 

 

N

(%)

N

(%)

N

(%)

N

(%)

N

A/cs

 

 

 

 

 

 

 

 

 

Turnover

-

-

-

-

-

-

€13,718,203

18.1%

€11,615,393

Export

-

-

-

-

-

-

€11,964,405

19.9%

€9,980,625

Cost  of  Sales

-

-

-

-

-

-100%

€2,994,733

36.8%

€2,189,789

Gross  Profit

€10,431,736

5.4%

€9,898,500

11.2%

€8,904,106

-17%

€10,723,470

13.8%

€9,425,604

Wages  &

Salaries

€6,442,805

1.5%

€6,350,079

-

-

-

€5,067,744

14.2%

€4,436,685

Directors

 

 

 

 

 

 

 

 

 

 

€221,918

10.7%

€200,503

-2%

€204,687

66.9%

€122,605

7.2%

€114,413

Emoluments

 

 

 

 

 

 

 

 

 

Operating  Profit

€3,156,055

-24.5%

€4,181,540

8.8%

€3,842,474

39.4%

€2,757,162

15.9%

€2,379,673

Depreciation

€387,216

22.3%

€316,561

20.8%

€262,057

21.2%

€216,288

-14.5%

€252,839

Audit  Fees

-

-

-

-

€36,000

-2.5%

€36,918

5.5%

€35,000

Interest

 

 

 

 

 

 

 

 

 

 

€263,299

-11.3%

€296,989

-15%

€349,505

-8.7%

€382,947

-6.9%

€411,226

Payments

 

 

 

 

 

 

 

 

 

Pre  Tax  Profit

€3,162,831

-22.7%

€4,089,271

10.5%

€3,700,134

40%

€2,642,967

21.3%

€2,178,691

Taxation

-€395,629

35.7%

-€615,340

-46.7%

-€419,386

-38%

-€303,800

-64.8%

-€184,342

Profit  After  Tax

€2,767,202

-20.3%

€3,473,931

5.9%

€3,280,748

40.3%

€2,339,167

17.3%

€1,994,349

Dividends

Payable 

€1,670,178

144.2%

€683,932

36.8%

€500,000

91%

€261,780

366.5%

€56,120

Retained  Profit

€1,097,024

-60.7%

€2,789,999

0.3%

€2,780,748

33.9%

€2,077,387

7.2%

€1,938,229

 

 

Balance  Sheet

 

Date  Of

30/06/14

(%)

30/06/13

(%)

30/06/12

(%)

30/06/11

(%)

30/06/10

Accounts

 

 

 

 

 

 

 

 

 

Tangible  Assets

€4,544,647

29.2%

€3,517,423

15.8%

€3,038,632

13.2%

€2,684,539

0.1%

€2,681,407

Intangible

Assets

0

-100%

€347,715

-23.9%

€456,664

747.2%

€53,902

-20%

€67,378

Total  Fixed

€4,544,647

17.6%

€3,865,138

10.6%

€3,495,296

27.6%

€2,738,441

-0.4%

€2,748,785

Assets

 

 

 

 

 

 

 

 

 

Stock

€960,211

-0.8%

€967,937

-10.4%

€1,080,071

24.9%

€864,592

-8.6%

€946,295

Trade  Debtors

€1,284,324

12.1%

€1,145,714

3.7%

€1,104,516

14.7%

€962,995

21.8%

€790,833

Cash

€3,431,512

3.8%

€3,305,900

64.5%

€2,009,245

-35.1%

€3,097,543

-49.7%

€6,158,610

Other  Debtors

€9,533,701

-5.6%

€10,097,765

-3.3%

€10,442,378

20.2%

€8,690,521

12.3%

€7,737,403

Miscellaneous

Current  Assets

0

-

0

-

0

-

0

-100%

€56,804

Total  Current

Assets

€15,209,748

-2%

€15,517,316

6%

€14,636,210

7.5%

€13,615,651

-13.2%

€15,689,945

Trade  Creditors

€712,314

94.3%

€366,596

-21%

€464,137

-8.9%

€509,315

43.9%

€353,994

Bank  Loans  &

Overdrafts

€222,271

5%

€211,677

-2.9%

€218,000

-

€218,000

-7.8%

€236,409

Other  Short  Term

Finance

€2,246,692

11.9%

€2,008,202

-12.8%

€2,302,928

43.7%

€1,602,156

87.2%

€855,987

Miscellaneous

Current Liabilities

€516,220

-41.2%

€877,745

1.4%

€865,911

25.4%

€690,411

48.1%

€466,196

Total  Current

Liabilities

€3,697,497

6.7%

€3,464,220

-10%

€3,850,976

27.5%

€3,019,882

57.9%

€1,912,586

Bank  Loans  &

Overdrafts  and LTL

€1,163,467

-44%

€2,077,983

-33.3%

€3,115,851

-29.5%

€4,419,154

-55.8%

€9,995,009

Other  Long  Term

Finance

0

-

0

-100%

€827,336

-64.8%

€2,352,651

-67.8%

€7,296,561

Total  Long  Term

Liabilities

€941,196

-49.6%

€1,866,306

-35.6%

€2,897,851

-31%

€4,201,154

-56.9%

€9,758,600

 

 

Capital  &  Reserves

 

Date  Of

30/06/14

(%)

30/06/13

(%)

30/06/12

(%)

30/06/11

(%)

30/06/10

Accounts

 

 

 

 

 

 

 

 

 

Called  Up  Share

Capital

€113,665

-

€113,665

-

€113,665

-

€113,665

-

€113,665

P  &  L  Account

Reserve

€14,946,423

7.7%

€13,882,649

23.8%

€11,213,400

25.1%

€8,963,777

35.9%

€6,598,265

Revaluation

Reserve

€55,614

-

€55,614

-

€55,614

-

€55,614

-

€55,614

Sundry Reserves

-

-

-

-

-

-

-

-

-

Shareholder

Funds

€15,115,702

7.6%

€14,051,928

23.5%

€11,382,679

24.6%

€9,133,056

35%

€6,767,544

 

 

Other  Financial  Items

 

Date  Of

30/06/14

(%)

30/06/13

(%)

30/06/12

(%)

30/06/11

(%)

30/06/10

Accounts

 

 

 

 

 

 

 

 

 

Net  Worth

€15,115,702

10.3%

€13,704,213

25.4%

€10,926,015

20.3%

€9,079,154

35.5%

€6,700,166

Working  Capital

€11,512,251

-4.5%

€12,053,096

11.8%

€10,785,234

1.8%

€10,595,769

-23.1%

€13,777,359

Total  Assets

€19,754,395

1.9%

€19,382,454

6.9%

€18,131,506

10.9%

€16,354,092

-11.3%

€18,438,730

Total  Liabilities

€4,638,693

-13%

€5,330,526

-21%

€6,748,827

-6.5%

€7,221,036

-38.1%

€11,671,186

Net  Assets

€15,115,702

7.6%

€14,051,928

23.5%

€11,382,679

24.6%

€9,133,056

35%

€6,767,544

 

 

Cash  Flow

 

Date  Of

30/06/14

(%)

30/06/13

(%)

30/06/12

(%)

30/06/11

(%)

30/06/10

Accounts

 

 

 

 

 

 

 

 

 

€2,818,925

-33%

€4,207,416

56.2%

€2,693,404

-5.9%

€2,861,686

45.3%

€1,969,793

€1,969,793

Net  Cashflow before  Financing

€341,003

-85.4%

€2,335,398

270.8%

€629,755

-69.7%

€2,081,663

44.8%

€1,437,300

Net  Cashflow

from  Financing

-€215,491

79.3%

-€1,038,743

39.5%

-€1,718,053

66.6%

-€5,142,730

-999.9%

€239,553

Increase  in Cash

€125,512

-90.3%

€1,296,655

219.1%

-€1,088,298

64.4%

-€3,061,067

-282.5%

€1,676,853

 

 

Miscellaneous

 

Date  Of

30/06/14

(%)

30/06/13

(%)

30/06/12

(%)

30/06/11

(%)

30/06/10

Accounts

 

 

 

 

 

 

 

 

 

Contingent

YES

-

YES

-

NO

-

NO

-

NO

Liability Capital

€16,056,898

0.9%

€15,918,234

11.5%

€14,280,530

7.1%

€13,334,210

-19.3%

€16,526,144

Employed Number  of

Employees

100

-

100

-

-

-

84

16.7%

72

Accountants

 

 

 

 

 

 

 

 

 

Auditors

BDO

Auditor

Comments

The  audit  report  contains  no  adverse  comment

Bankers

BANK  OF  IRELAND

Bank  Branch Code

90-43-17

 

 

Ratios

 

Date  Of

30/06/14

30/06/13

30/06/12

30/06/11

30/06/10

Accounts

 

 

 

 

 

Pre-tax  profit margin  %

-

-

-

19.27

18.76

Current  ratio

4.11

4.48

3.80

4.51

8.20

Sales/Net

 

 

 

 

 

 

-

-

-

1.29

0.84

Working  Capital

 

 

 

 

 

Gearing  %

7.70

14.80

27.40

48.40

147.70

Equity  in  %

76.50

73.80

64.40

56

36.80

Creditor  Days

-

-

-

13.51

11.09

Debtor  Days

-

-

-

25.55

24.78

Liquidity/Acid  Test %

3.85

4.19

3.52

4.22

7.70

Return  On Capital Employed %

19.69

25.68

25.91

19.82

13.18

Return  On  Total

Assets Employed %

16.01

21.09

20.40

16.16

11.81

Current  Debt Ratio

0.24

0.24

0.33

0.33

0.28

Total  Debt  Ratio

0.30

0.37

0.59

0.79

1.72

Stock  Turnover

Ratio  %

-

-

-

6.30

8.14

Return  on  Net

Assets Employed  %

20.92

29.10

32.50

28.93

32.19

 

 

Report  Notes

 

There  are  no  notes  to  display.

 

 

Status  History

 

No  Status  History  found

 

 

Event  History

 

Date

Description

16/02/2015

New  Accounts  Filed

16/02/2015

New  Accounts  Filed

12/02/2015

Annual  Returns

28/04/2014

New  Accounts  Filed

28/04/2014

New  Accounts  Filed

26/04/2014

Annual  Returns

16/03/2013

New  Accounts  Filed

16/03/2013

New  Accounts  Filed

14/03/2013

Annual  Returns

27/06/2012

New  Board  Member  (NIALL  CONSIDINE)  appointed

13/03/2012

New  Accounts  Filed

13/03/2012

New  Accounts  Filed

12/03/2012

Annual  Returns

12/04/2011

New  Accounts  Filed

12/04/2011

New  Accounts  Filed

 

 

Previous  Company  Names

 

No  Previous  Names  found

 

 

Writ  Details

 

No  writs  found

 

 

Statistics

 

Group

14 companies

Linkages

2 companies

Countries

In  2  countries

 

 

Summary

 

Holding  Company

-

Ownership  Status

Wholly  Owned

Ultimate  Holding  Company

CAFFA  HOLDINGS  SA

 

 

Group  Structure

 

Company  Name

 

Latest  Key

Consol.

 

 

 

Financials

 Accounts  

Turnover

CAFFA  HOLDINGS  SA

N/A

-

-

 

HOYLAND  MANAGEMENT  LTD

N/A

-

-

 

WICKLOW  SOUTHERN  HOL...

IE00184213

30.06.2014

N

 

KILQUADE  SOUTHERN...

IE00186354

30.06.2014

N

 

SHERINA  ENTERPRISES  LTD

N/A

-

-

 

B.  S  &  B.  (DISTRIBUT...

IE00154619

30.06.2014

N

 

BS&B  SAFETY  SYSTEMS...

IE00042184

30.06.2014

N

 

BS&B  HOLDINGS  LIMITED

IE00395258

30.06.2014

N

 

BS  &  B  SAFETY  SYST...

UK01917656

30.06.2014

N

 

BS&B  INVENTORY  MAN...

IE00202760

30.06.2014

N

 

B.S.&B.  AUTOMATED...

IE00311836

30.06.2014

N

 

VENIDA  HOLDINGS  LTD

N/A

-

-

 

LOUGHSIE  LIMITED

IE00100949

30.06.2014

N

 

WICKLOW  SOUTHERN  I...

IE00180932

30.06.2014

 

 

 

 

Other  Linked  Companies

 

Name

Number

Latest  Key  Financials

Turnover

BS  &  B  SAFETY  SYSTEMS  GMBH

HRB  9094

30.06.2012

 

BS&B  SAFETY  SYSTEMS  B.V.

34313240

30.06.2014

 

 

 

Mortgage  Details

 

Mortgage  Type:

A  charge  on  land,  wherever  situate,  or  any  interest  therein,  but  not  including  a  charge  for  any  rent

Date  Charge  Created:

03/11/08

Date  Charge  Registered:

20/11/08

Date  Charge  Satisfied:

-

Status:

NOT  SATISFIED

Person(s)  Entitled:

THE  GOVERNOR  &  CO  OF  THE  BANK  OF  IRELAND

Amount  Secured:

 

Details:

All  monies  and/or  obligations  which  now  are,  or  at  any  time  may  become,  due  or  owing  to  the  security holder  by  the  company  on  any  account  and  all  the  other  liabilities  whatsoever  of  the  company  to  the

 

security  holder  whether  actual  or  contingent  and  whether  as  principal  debtor,  guarantor,  surety  or otherwise.

Mortgage  Type:

A  charge  created  or  evidenced  by  an  instrument  which,  if  executed  by  an  individual,  would  require  re

Date  Charge  Created:

03/11/08

Date  Charge  Registered:

20/11/08

Date  Charge  Satisfied:

-

Status:

NOT  SATISFIED

Person(s)  Entitled:

THE  GOVERNOR  &  CO  OF  THE  BANK  OF  IRELAND

Amount  Secured:

 

Details:

All  monies  and/or  obligations  which  now  are,  or  at  any  time  may  become,  due  or  owing  to  the  security holder  by  the  company  on  any  account  and  all  the  other  liabilities  whatsoever  of  the  company to the

 

security  holder  whether  actual  or  contingent  and  whether  as  principal  debtor,  guarantor,  surety  or otherwise.

Mortgage  Type:

MORTGAGE  OF  ASSETS.

Date  Charge  Created:

07/02/01

Date  Charge  Registered:

05/07/01

Date  Charge  Satisfied:

08/04/14

Status:

FULLY  SATISFIED

Person(s)  Entitled:

SHERINA  ENTERPRISES  LIMITED,

Amount  Secured:

6000000

Details:

 

Mortgage  Type:

A  CHARGE.

Date  Charge  Created:

23/08/94

Date  Charge  Registered:

09/09/94

Date  Charge  Satisfied:

-

Status:

NOT  SATISFIED

Person(s)  Entitled:

THE  GOVERNOR  &  CO  OF  THE  BANK  OF  IRELAND

Amount  Secured:

0

 

ALL  SUMS  NOW  DUE  OR  HEREAFTER  TO  BECOME  DUE  FROM  THE  COMPANY  TO  THE

Details:

 

 

PERSON(S)  ENTITLED

Mortgage  Type:

CHATTEL  MORTGAGE.

Date  Charge  Created:

30/08/93

Date  Charge  Registered:

16/09/93

Date  Charge  Satisfied:

-

Status:

NOT  SATISFIED

Person(s)  Entitled:

WOODCHESTER  CREDIT  LYONNAIS  BANK  LIMITED

Amount  Secured:

60425

Details:

 

 

 

Previous  Director/Company  Secretaries

 

ROO  HUSE

0

1

MICHAEL  ANTHONY  MAHER

0

2

HUGH  JOHN  ROBERT  BEVERIDGE

0

1

KARL  LUDWIG  ALBRACHT

0

1

PATRICIA  DIANE  FOWLER

0

4

JOHN  PATRICK  CLARK

0

3

GEORGE  BARRY  LOWE

0

2

JUDITH  EVE  DOWNES

0

4

SEAMUS  HICKEY

0

6

DAVID  O'NEILL

0

4

DONAL  CULLINANE

0

2

CORPORATE  SECRETARIES  LIMITED

974

1791

 

 

Average  Invoice  Value

n/a

Invoices  available

n/a

Paid

n/a

Outstanding

n/a

 

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

Days 31-60 

Days 61-90 

Days 91+  Days

Paid

 

 

 

 

 

Outstanding

 

 

 

 

 


 

FOREIGN EXCHANGE RATES

 

Currency

Unit

Indian Rupees

US Dollar

1

Rs.66.58

UK Pound

1

Rs.102.29

Euro

1

Rs.74.71

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

VNT

 

               

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.