MIRA INFORM REPORT

 

 

Report No. :

341796

Report Date :

18.09.2015

 

IDENTIFICATION DETAILS

 

Name :

DIAMPEX  NV

 

 

Registered Office :

Mezenlaan  4 2610 Antwerpen

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2014

 

 

Date of Incorporation :

11.02.1983

 

 

Com. Reg. No.:

423454587

 

 

Legal Form :

Public Limited Liability Company (BE)

 

 

LINE OF BUSINESS :

WHOLESALE  OF  DIAMONDS  AND OTHER  PRECIOUS  STONES

 

 

No. of Employees :

Not Available

 

 

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)

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 EU trade 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 summery

 

Business  number

423454587

Company  name

DIAMPEX  NV

Address

MEZENLAAN  4

 

2610 ANTWERPEN

Number  of  staff

0

Date  of  establishment

11/02/1983

Telephone  number

034482329

Fax  number

032265055

 

 

Commentary

 

The  business  was  established  over  32  years  ago.

The  business  has  0  employees.

The  business  has  been  at  the  address  for  over  12  years.

A  40%  decline  in  Total  Assets  occurred  during  the  latest  trading  period.

The  business  saw  a  decrease  in  their  Cash  Balance  of  85%  during  the  latest  trading  period.

 

 

Accounts

 

DATE  OF  LATEST  ACCOUNTS

TURNOVER

PROFIT  BEFORE  TAX

NET  WORTH

WORKING  CAPITAL

31/12/2014

88,140,240

166,870

10,867,229

10,004,912

31/12/2013

91,568,749

177,646

10,700,073

10,183,314

31/12/2012

87,713,992

515,908

9,710,107

10,017,733

 

 

 

 

 

Accounts

 

 

 

 

DATE  OF  LATEST  ACCOUNTS

BALANCE  TOTAL

NUMBER  OF  EMPLOYEES

CAPITAL

CASHFLOW

31/12/2014

19,257,071

0

5,078,600

178,220

31/12/2013

32,198,894

1

5,078,600

185,516

31/12/2012

33,532,557

0

5,078,600

146,998

 

 

Trends

 

Profitability

Liquidity

Net  worth

 

 

Payment  expectations

 

Past  payments

 

Payment  expectation  days

0.07

Industry  average  payment

110.56

Industry  average  day  sales

172.81

expectation  days

 

outstanding

 

Day  sales  outstanding

69.31

 

 

 

 

Court  data  summary

 

BANKRUPTCY  DETAILS

no

Court  action  type

no

PROTESTED  BILLS

-

Bill  amount

-

NSSO  DETAILS

 

Date  of  summons

25/05/2009

 

 

Company  information

 

Business  number

423454587

Company  name

DIAMPEX  NV

Fax  number

032265055

Date  founded

11/02/1983

Company  status

active

Company  type

Public  Limited  Liability

 

 

 

Company  (BE)

Currency

Euro  (€)

Date  of  latest  accounts

31/12/2014

Activity  code

46761

Liable  for  VAT

yes

Activity  description

Wholesale  of  diamonds  and

VAT  Number

BE.0423.454.587  Check  VAT

 

other  precious  stones

 

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

category

 

 

 

JIC  Code

324

Description

Joint  committee  for  the  industry  and  the  trade  in  diamant

category

 

 

 

Significant  Events

 

Event  Date

14/12/2010

Event  Description

re-appointment  of  director(s)

Event  Details

Commentaar  14-12-2010:  Herbenoeming  bestuurders  tot  na  de  jaarvergadering  van  2016  :  Shah

 

Miten,  Bhandari  Sangita  (tevens  gedelegeerd  bestuurder)  en  Shah  Namrata.

 

 

Company  accounts

 

Assets

 

 

 

 

 

 

 

 

 

Annual  accounts

31-12-2014

%

31-12-2013

%

31-12-2012

%

31-12-2011

%

31-12-2010

Weeks

52

 

52

 

52

 

52

 

52

Currency

EUR

 

EUR

 

EUR

 

EUR

 

EUR

Total  fixed  assets

990,944

-1.69

1,007,941

399

201,961

-2.45

207,042

-4.36

216,479

Intangible  fixed  assets

0

-

0

-

0

-

0

-

0

Tangible  fixed  assets

989,395

-1.69

1,006,392

402

200,413

-2.47

205,493

-4.39

214,930

Land  &  building

966,595

-3.55

1,002,122

413

195,298

-3.32

201,995

-3.21

208,692

Plant  &  machinery

2,331

-33.12

3,486

-13.59

4,034

93.52

2,085

-64.59

5,887

Furniture  &  Vehicles

20,469

2510

784

-27.40

1,080

-23.55

1,413

302

351

Leasing  &  Other  Similar  Rights

-

-

-

-

-

-

-

-

-

Other  tangible  assets

0

-

0

-

0

-

0

-

0

Financial  fixed  assets

1,549

0

1,549

0

1,549

0

1,549

0

1,549

Total  current  assets

18,266,127

-41.44

31,190,953

-6.42

33,330,595

106

16,142,625

-11.95

18,332,655

Inventories

1,522,378

-72.79

5,594,901

-51.83

11,615,957

43.71

8,082,808

11.21

7,267,989

Raw  materials  &  consumables

-

-

-

-

-

-

-

-

-

Work  in  progress

0

-

0

-

0

-

0

-

0

Finished  goods

1,522,378

-72.79

5,594,901

-51.83

11,615,957

43.71

8,082,808

11.21

7,267,989

Other  stocks

0

-

0

-

0

-

0

-

0

Trade  debtors

16,735,973

-34.58

25,580,765

17.87

21,702,036

171

7,993,812

-26.44

10,866,544

Other  amounts  receivable

2,727

-46.77

5,122

10.97

4,616

5.64

4,369

-95.53

97,685

Cash

562

-85.50

3,878

70.22

2,278

-94.09

38,528

-52.88

81,767

Miscellaneous  current  assets

4,487

-28.63

6,287

10.13

5,709

-75.29

23,107

23.77

18,669

Total  Assets

19,257,071

-40.19

32,198,894

-3.98

33,532,557

105

16,349,667

-11.86

18,549,134

Liabilities

 

 

 

 

 

 

 

 

 

Total  shareholders  equity

10,867,229

1.56

10,700,073

10.20

9,710,107

74.06

5,578,636

1.15

5,514,995

Issued  share  capital

5,078,600

0

5,078,600

0

5,078,600

368

1,085,030

0

1,085,030

Share  premium  account

-

-

-

-

-

-

-

-

-

Revaluation  reserve

813,521

0

813,521

-

-

-

-

-

-

Reserves

4,975,108

3.48

4,807,952

3.81

4,631,507

3.07

4,493,606

1.44

4,429,965

Provisions  for  Liabilities  &

0

-

0

-

0

-

0

-

0

Charges

 

 

 

 

 

 

 

 

 

Deffered  taxes

-

-

-

-

-

-

-

-

-

Creditors

8,389,842

-60.98

21,498,822

-9.75

23,822,450

121

10,771,032

-17.36

13,034,139

Other  long  term  loans

-

-

-

-

-

-

-

-

11,348

Long  term  group  loans

-

-

-

-

-

-

-

-

-

Other  long  term  liabilities

128,628

-73.81

491,183

-3.61

509,588

28.77

395,727

5176

7,500

Total  long  term  debts

128,628

-73.81

491,183

-3.61

509,588

28.77

395,727

1999

18,848

Current  portion  of  long  term  debt

-

-

-

-

-

-

12,767

-25.00

17,022

Financial  debts

8,145,323

-59.70

20,213,691

5.72

19,119,995

140

7,945,773

-13.65

9,201,383

Trade  creditors

17,444

-97.49

694,576

-83.10

4,110,214

77.49

2,315,730

-36.79

3,663,592

Amounts  Payable  for  Taxes,

12,349

-18.41

15,134

26.05

12,007

62.53

7,387

-32.19

10,893

Remuneration  &  Social  Security

 

 

 

 

 

 

 

 

 

Miscellaneous  current  liabilities

86,099

2.21

84,237

19.24

70,647

-24.56

93,647

-23.49

122,401

Total  current  liabilities

8,261,214

-60.68

21,007,639

-9.89

23,312,862

124

10,375,305

-20.28

13,015,291

Total  Liabilities

19,257,071

-40.19

32,198,894

-3.98

33,532,557

105

16,349,667

-11.86

18,549,134

 

 

ratio  analysis

 

 

 

 

 

 

 

 

 

TRADING  PERFORMANCE

 

 

 

 

 

 

 

 

 

Profit  Before  Tax

0.19

0

0.19

-67.80

0.59

637

0.08

-27.27

0.11

Return  on  capital  employed

1.52

-4.40

1.59

-68.51

5.05

523

0.81

-7.95

0.88

Return  on  total  assets  employed

0.87

58.18

0.55

-64.29

1.54

431

0.29

11.54

0.26

Return  on  net  assets  employed

1.54

-7.23

1.66

-68.74

5.31

517

0.86

-2.27

0.88

Sales  /  net  working  capital

8.81

-2.00

8.99

2.63

8.76

-14.03

10.19

25.18

8.14

Stock  turnover  ratio

1.73

-71.69

6.11

-53.85

13.24

-3.78

13.76

-18.05

16.79

Creditor  days

0.07

-97.50

2.80

-83.87

17.36

18.26

14.68

-52.54

30.93

Debtor  days

69.31

-32.03

101.97

12.91

90.31

81.82

49.67

-45.79

91.62

SHORT  TERM  STABILITY

 

 

 

 

 

 

 

 

 

Current  ratio

2.21

49.32

1.48

3.50

1.43

-8.33

1.56

10.64

1.41

Liquidity  ratio  /  acid  ratio

2.03

66.39

1.22

31.18

0.93

19.23

0.78

-8.24

0.85

Current  debt  ratio

0.76

-61.22

1.96

-18.33

2.40

29.03

1.86

-21.19

2.36

Liquidity  ratio  reprocessed

-

-

-

-

-

-

-

-

-

Cashflow

178,220

-3.93

185,516

26.20

146,998

96.65

74,752

-29.34

105,793

Net  worth

10,867,229

1.56

10,700,073

10.20

9,710,107

74.06

5,578,636

1.15

5,514,995

LONG  TERM  STABILITY

 

 

 

 

 

 

 

 

 

Gearing

74.95

-60.33

188.91

-4.06

196.91

38.03

142.66

-14.76

167.36

Equity  in  percentage

56.43

69.82

33.23

14.74

28.96

-15.12

34.12

14.77

29.73

Total  debt  ratio

0.77

-61.69

2.01

-17.96

2.45

26.94

1.93

-18.22

2.36

Working  capital

10,004,912

-1.75

10,183,314

1.65

10,017,733

73.70

5,767,321

8.46

5,317,364

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Profit  &  loss

 

 

 

 

 

 

 

 

 

Operating  Income

88,144,049

-3.75

91,582,229

4.39

87,731,647

49.31

58,759,071

35.69

43,302,463

Turnover

88,140,240

-3.74

91,568,749

4.39

87,713,992

49.31

58,744,740

35.70

43,291,121

Total  operating  expenses

86,974,407

-3.95

90,553,931

4.78

86,420,159

50.10

57,574,665

33.18

43,229,898

Gross  Operating  Margin

-

-

-

-

-

-

-

-

-

Operating  Charges

86,978,216

-3.96

90,567,411

4.78

86,437,815

50.09

57,588,996

33.18

43,241,241

Employee  costs

28,049

-3.46

29,054

9.26

26,593

4.41

25,471

1.68

25,050

Wages  and  salary

22,626

-4.39

23,664

8.37

21,836

3.59

21,079

1.37

20,793

Employee  pension  costs

-

-

-

-

-

-

-

-

-

Social  security  contributions

4,538

-5.73

4,814

10.93

4,340

9.10

3,978

3.92

3,828

Other  employee  costs

884

53.49

576

38.32

417

0.71

414

-3.50

429

Director  remuneration

-

-

-

-

-

-

-

-

-

Amortization  and  depreciation

11,064

21.97

9,071

-0.28

9,097

-18.13

11,111

-39.98

18,512

Operating  result

1,165,833

14.88

1,014,819

-21.56

1,293,832

10.58

1,170,075

1811

61,222

Total  financial  income

1

-99

302

-81.80

1,657

-70.60

5,636

-99

1,728,065

Total  financial  expenses

998,964

19.28

837,474

7.43

779,582

-30.86

1,127,484

-35.22

1,740,593

Results  on  ordinary  operations

166,870

-6.07

177,646

-65.57

515,908

969

48,228

-0.96

48,694

before  taxation

 

 

 

 

 

 

 

 

 

Extraordinary  Income

5,331

-14.70

6,250

-98.88

557,529

3517

15,413

-60.06

38,587

Extraordinary  Charges

-

-

-

-

935,235

-

-

-

0

Extraordinary  items

5,331

-14.70

6,250

1.65

-377,706

-2550

15,413

-60.06

38,587

Results  for  the  Year  Before

172,202

-6.36

183,896

33.06

138,201

117

63,641

-27.08

87,281

Taxation

 

 

 

 

 

 

 

 

 

Other  appropriations

-

-

-

-

-

-

-

-

-

Taxation

5,045

-32.29

7,452

2383

300

-

-

-

-

Results  on  ordinary  operations after  taxation

161,825

-4.92

170,195

-66.99

515,608

969

48,228

-0.96

48,694

Net  result

167,156

-5.26

176,445

27.95

137,901

116

63,641

-27.08

87,281

Profit  (Loss)  for  the  Year  to  be appropiated

167,156

-5.26

176,445

27.95

137,901

116

63,641

-27.08

87,281

Dividends

-

-

-

-

-

-

-

-

-

 

 

Social  Balance  Sheet  Details

 

Social  Balance  Sheet  Details

 

 

 

Social  Balance  Sheet

 

Total

 

During  the  reporting  year

 

 

 

ended  31-12-2014

 

 

 

Full-time  Employees

 

0

 

Part-time  Employees

 

1

 

Total  Fte  Employees

 

1

 

Number  of  hours  worked

 

 

 

Full-time  Employees

 

169

 

Part-time  Employees

 

1,347

 

Total

 

1,516

 

Personnel  Charges

 

 

 

Full-time  Employees

 

2,382

 

Part-time  Employees

 

26,331

 

Total

 

28,713

 

Benefits  In  Addition  To  Wages

 

-

 

During  the  previous  reporting  year

 

 

 

Average  number  employees  in  Fte

 

1

 

Actual  working  hours

 

1,594

 

Personnel  Charges

 

29,596

 

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

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

 

 

 

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

 

 

Payment  Information

 

Suspension  of  payments  /  moratorium  history

 

Amount

-

 

Details

-

 

 

Payment  Information  Summary

 

Total  number  of  Invoices  available

7

Total  number  of  Invoices  paid  within  or  up  to  30  days  after  the  due  date

7

Total  number  of  Invoices  paid  more  than  30  days  after  the  due  date

0

Total  number  of  Invoices  currently  outstanding  where  the  due  date  has  not  yet  been  reached

0

Total  number  of  Invoices  currently  outstanding  beyond  the  due  date

0

 

Payment  expectations

 

Payment  expectation  days

0.07

Day  sales  outstanding

69.31

 

 

Industry  comparison

 

Activity  code

46761

Activity  description

Wholesale  of  diamonds  and  other  precious  stones

Industry  average  payment

110.56

expectation  days

 

Industry  average  day  sales

172.81

outstanding

 

 

 

Industry  quartile  analysis

 

Payment  expectations

 

Company  result

0.07

Lower

120.44

Median

75.16

Upper

45.49

 

 

Day  sales  outstanding

 

Company  result

69.31

Lower

105.52

Median

54.63

Upper

24.84

 

 

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

 

 

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

25/05/2009

 

 

Court  type

 

Court  name

Antwerpen

Creditor's  name

Rijksdienst  voor  Sociale  Zekerheid

3rd  party  type

Summoning  Party

Legal  event  type

Social  Security  Summons

 

 

 

Event  date

04/05/2009

 

Court  type

Court  name

Antwerpen

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

15/12/2010

End  Date

15/06/2016

Street

4 MEZENLAAN  ANTWERPEN

Post  code

2610

Country

Belgium

 

 

Name

MITEN  SHAH

Name

RIDDHI  SHAH

Position

Director

Start  Date

01/04/2013

End  Date

15/06/2018

Street

4 MEZENLAAN  ANTWERPEN

Post  code

2610

Country

Belgium

 

 

Name

NAMRATA  SHAH  (PARIKH)

Position

Director

Start  Date

01/04/2013

End  Date

15/06/2018

Street

162 URVASHI  MALBAR  CO-OP  SOC  LTD

Post  code

0

Country

India

 

 

Name

NAMRATA  PARIKH

Position

Director

Start  Date

01/06/2006

Street

 

Post  code

 

Country

 

 

 

Former  director  details

 

Name

MITEN  SHAH

Position

Director

Start  Date

01/01/2008

End  Date

31/12/2010

Street

4 MEZENLAAN  ANTWERPEN

Post  code

2610

Country

Belgium

 

 

Name

SANGITA  BABULAL  BHANDARI

Position

Managing  Director

Start  Date

15/06/2002

End  Date

31/03/2013

Street

4 MEZENLAAN  ANTWERPEN

Post  code

2610

Country

Belgium

Position

Director

Start  Date

27/03/1997

End  Date

31/03/2013

Street

4 MEZENLAAN  ANTWERPEN

Post  code

2610

Country

Belgium

 

 

Name

BHARATKUMAR  SHAH

Position

Managing  Director

Start  Date

15/06/2002

End  Date

15/12/2010

Street

4 MEZENLAAN  ANTWERPEN

Post  code

2610

Country

Belgium

 

 

Position

Director

Start  Date

23/06/1997

End  Date

15/12/2010

Street

4 MEZENLAAN  ANTWERPEN

Post  code

2610

Country

Belgium

 

 

Name

NAMRATA  SHAH

Position

Director

Start  Date

01/06/2006

End  Date

31/12/2012

Street

 

Post  code

 

Country

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.66.50

UK Pound

1

Rs.101.99

Euro

1

Rs.75.03

 

INFORMATION DETAILS

 

Analysis Done by :

RAS

 

 

Report Prepared by :

TRU

 

               

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.