3decades

MIRA INFORM REPORT

Report No. :	516980
Report Date :	25.06.2018

IDENTIFICATION DETAILS

Name :	EML RETAIL DISPLAY LTD

Registered Office :	Warner House 39 Jubilee Centre, Jubilee Road, Letchworth SG6 1SP

Country :	United Kingdom

Financials (as on) :	31.07.2017

Date of Incorporation :	30.07.2009

Com. Reg. No.:	06976294

Legal Form :	Private Limited with Share Capital

Line of Business :	· Other retail sale of new goods in specialised stores (not commercial art galleries and opticians) · Photography, digital printing, finishing and display manufacture and installation.

No. of Employees :	5

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

Credit Rating

Explanation

Rating Comments

Acceptable Risk

Business dealings permissible with moderate risk of default

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

Country Name

Previous Rating

(31.12.2017)

Current Rating

(01.04.2018)

United Kingdom

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderately Low Risk	B1
Moderate Risk	B2
Moderately High Risk	C1
High Risk	C2
Very High Risk	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; 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 the UK’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 then CAMERON-led coalition government (between Conservatives and Liberal Democrats) initiated an austerity program, which has continued under the Conservative government. However, the deficit still remains one of the highest in the G7, standing at 3.6% of GDP as of 2017, and the UK has pledged to lower its corporation tax from 20% to 17% by 2020. The UK had a debt burden of 90.4% GDP at the end of 2017.

The UK’s economy has begun to slow since the referendum vote to leave the EU in June 2016. A sustained depreciation of the British pound has increased consumer and producer prices, weighing on consumer spending without spurring a meaningful increase in exports. The UK has an extensive trade relationship with other EU members through its single market membership and economic observers have warned the exit will jeopardize its position as the central location for European financial services. Prime Minister MAY is seeking a new “deep and special” trade relationship with the EU following the UK’s exit. However, economists doubt that the UK will be able to preserve the benefits of EU membership without the obligations.

Source : CIA

Company name and address

Company Name: EML RETAIL DISPLAY LTD

Company No: 06976294

Company Status: Active - Accounts Filed

Registered Address: WARNER HOUSE 39 JUBILEE CENTREJUBILEE ROADLETCHWORTHSG6 1SP

Company Summary

Registered Address WARNER HOUSE 39 JUBILEE CENTRE, JUBILEE ROAD, LETCHWORTH SG6 1SP

Trading Address Unit 39, Warner House, Jubilee Trade Centre, Jubilee Road, Letchworth Garden

City, Hertfordshire, SG6 1SP

Website Address http://www.emlexpress.com

Telephone Number 01462650700

Fax Number --

TPS No

FPS Yes

Incorporation Date 30/07/2009

Previous Name --

Type Private limited with Share Capital

FTSE Index -

Date of Change -

Filing Date of Accounts 27/04/2018

Currency GBP

Share Capital £400

SIC07 47789

Charity Number --

SIC07 Description OTHER RETAIL SALE OF NEW GOODS IN SPECIALISED STORES (NOT COMMERCIAL ART GALLERIES AND OPTICIANS)

Principal Activity Photography, digital printing, finishing and display manufacture and installation.

Additional Information

CCJ's 0 (£0)

No CCJ Information To Display

Ultimate Holding Company -

Accountant BARKER WILKINSON LTD

Mortgages 3

Group 0 companies

Linkages 0 companies

Countries In 0 countries

Key Financials

Year to Date Turnover Pre Tax Profit Shareholder's Funds Employees

31/07/2017 - - £327,027 5

31/07/2016 - - £257,368 -

31/05/2015 - - £254,687 -

Mortgage Summary

Total Mortgage 3

Outstanding 2

Satisfied 1

Trade Debtors / Bad Debt Summary

Total Number of Documented Trade 0

Total Value of Documented Trade £0

Commentary

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

The latest Balance Sheet indicates a very positive net working capital position.

The latest cash balances represent a positive level in terms of the overall outstanding creditor obligations.

There has been an increase in shareholders funds compared with the previous balance sheet.

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	3	Total Current Secretaries	1
Total Previous Directors / Company Secretaries	2	Total Person's With Significant Control	1

Current Directors

Title	Mr	Function	Director
Name	Arthur Ayodele Davies	Nationality	British
Date of Birth	01/1955	Present Appointments	2
Latest Address	Warner House 39 Jubilee Centre, Jubilee Road, Letchworth, Herts	Appointment Date	31/10/2010
Post Code	SG6 1SP

Title	Mr	Function	Director
Name	Lawrence Thomas William Alderman	Nationality	British
Date of Birth	02/1955	Present Appointments	2
Latest Address	Poplars Farm, Roe Green Sandon, Buntingford, Hertfordshire	Appointment Date	30/07/2009
Post Code	SG9 0QE

Title	Mr	Function	Director
Name	Mark Adams	Nationality	British
Date of Birth	10/1969	Present Appointments	2
Latest Address	35 Farthing Drive, Letchworth, Hertfordshire	Appointment Date	30/07/2009
Post Code	SG6 2TR

Current Company Secretary

Title	Ms	Function	Company Secretary
Name	Kelly Pearce	Nationality
Date of Birth	-	Present Appointments	1
Latest Address	39 Lapwing Rise, Stevenage, Herts	Appointment Date	30/07/2009
Post Code	SG2 9NH

Top Shareholders

Name	Currency	Share Count	Share Type	Nominal Value	% of Total Share Count
LAWRENCE ALDERMAN	GBP	105	ORDINARY	1	26.25
LAWRENCE ALDERMAN	GBP	105	ORDINARY B	1	26.25
MARK ADAMS	GBP	85	ORDINARY	1	21.25
ARTHUR DAVIES	GBP	40	ORDINARY B	1	10
ANDREW SOUTHAM	GBP	40	ORDINARY B	1	10
MARK MCLENNAN	GBP	10	ORDINARY B	1	2.5
ARTHUR DAVIES	GBP	10	ORDINARY	1	2.5
MARK ADAMS	GBP	5	ORDINARY B	1	1.25

FINANCIALS

PROFIT & LOSS

	Date Of Accounts	31/07/17	(%)	31/07/16	(%)	31/05/15	(%)	31/05/14	(%)	31/05/13
	Weeks	52	(%)	61	(%)	52	(%)	52	(%)	52
	Currency	GBP	(%)	GBP	(%)	GBP	(%)	GBP	(%)	GBP
	Consolidated A/cs	N	(%)	N	(%)	N	(%)	N	(%)	N
$Description: \\vivek-pc\E\516980_files\barchart-grey.png$	Turnover	-	-	-	-	-	-	£1,107,066	-5%	£1,165,284
$Description: \\vivek-pc\E\516980_files\barchart-grey.png$	Export	-	-	-	-	-	-	-	-	-
$Description: \\vivek-pc\E\516980_files\barchart-grey.png$	Cost of Sales	-	-	-	-	-	-100%	£666,434	-11.9%	£756,789
$Description: \\vivek-pc\E\516980_files\barchart-grey.png$	Gross Profit	-	-	-	-	-	-	£440,632	7.9%	£408,495
$Description: \\vivek-pc\E\516980_files\barchart-grey.png$	Wages & Salaries	-	-	-	-	-	-	-	-	£177,955
$Description: \\vivek-pc\E\516980_files\barchart-grey.png$	Directors Emoluments	-	-	-	-	-	-	-	-	-
$Description: \\vivek-pc\E\516980_files\barchart-grey.png$	Operating Profit	-	-	-	-	-	-	£122,887	150.9%	£48,973
$Description: \\vivek-pc\E\516980_files\barchart-grey.png$	Depreciation	£10,632	-20%	£13,288	13.8%	£11,675	133.8%	£4,993	-35.4%	£7,724
$Description: \\vivek-pc\E\516980_files\barchart-grey.png$	Audit Fees	-	-	-	-	-	-	-	-	-
$Description: \\vivek-pc\E\516980_files\barchart-grey.png$	Interest Payments	-	-	-	-	-	-	-	-100%	£1,997
$Description: \\vivek-pc\E\516980_files\barchart-grey.png$	Pre Tax Profit	-	-	-	-	-	-	£122,887	161.6%	£46,976
$Description: \\vivek-pc\E\516980_files\barchart-grey.png$	Taxation	-	-	-	-	-	-	-£25,479	-154.5%	-£10,011
$Description: \\vivek-pc\E\516980_files\barchart-grey.png$	Profit After Tax	-	-	-	-	-	-	£97,408	163.5%	£36,965
$Description: \\vivek-pc\E\516980_files\barchart-grey.png$	Dividends Payable	-	-	-	-	-	-	-	-	-
$Description: \\vivek-pc\E\516980_files\barchart-grey.png$	Retained Profit	-	-	-	-	-	-	£97,408	163.5%	£36,965

BALANCE SHEET

	Date Of Accounts	31/07/17	(%)	31/07/16	(%)	31/05/15	(%)	31/05/14	(%)	31/05/13
$Description: \\vivek-pc\E\516980_files\barchart-grey.png$	Tangible Assets	£8,898	-42.2%	£15,384	-30.4%	£22,108	-20.4%	£27,771	230.7%	£8,397
$Description: \\vivek-pc\E\516980_files\barchart-grey.png$	Intangible Assets	0	-	0	-	0	-100%	£1,747	-85.7%	£12,175
$Description: \\vivek-pc\E\516980_files\barchart-grey.png$	Total Fixed Assets	£8,898	-42.2%	£15,384	-30.4%	£22,108	-25.1%	£29,518	43.5%	£20,572
$Description: \\vivek-pc\E\516980_files\barchart-grey.png$	Stock	£338,989	-9.5%	£374,644	-8.6%	£409,994	0.2%	£409,056	-18.5%	£501,903
$Description: \\vivek-pc\E\516980_files\barchart-grey.png$	Trade Debtors	£95,050	-54.6%	£209,313	41.6%	£147,782	-39.5%	£244,448	-20%	£305,413
$Description: \\vivek-pc\E\516980_files\barchart-grey.png$	Cash	£94,153	38.5%	£67,956	103.9%	£33,333	-37.2%	£53,043	-34.7%	£81,246
$Description: \\vivek-pc\E\516980_files\barchart-grey.png$	Other Debtors	£20,670	1.1%	£20,450	-	0	-100%	£24,260	-13.2%	£27,954
$Description: \\vivek-pc\E\516980_files\barchart-grey.png$	Miscellaneous Current Assets	0	-	0	-	0	-	0	-	0
$Description: \\vivek-pc\E\516980_files\barchart-grey.png$	Total Current Assets	£548,862	-18.4%	£672,363	13.7%	£591,109	-19.1%	£730,807	-20.3%	£916,516
$Description: \\vivek-pc\E\516980_files\barchart-grey.png$	Trade Creditors	£72,430	-34.9%	£111,336	-68.7%	£355,986	263.9%	£97,815	-58.5%	£235,488
$Description: \\vivek-pc\E\516980_files\barchart-grey.png$	Bank Loans & Overdrafts	0	-	0	-	0	-	0	-	0
$Description: \\vivek-pc\E\516980_files\barchart-grey.png$	Other Short Term Finance	£2,411	273.2%	£646	-	0	-100%	£737	129.6%	£321
$Description: \\vivek-pc\E\516980_files\barchart-grey.png$	Miscellaneous Current Liabilities	£155,826	-50.9%	£317,221	-	0	-100%	£412,023	-25.3%	£551,890
$Description: \\vivek-pc\E\516980_files\barchart-grey.png$	Total Current Liabilities	£230,667	-46.3%	£429,203	20.6%	£355,986	-30.3%	£510,575	-35.2%	£787,699
$Description: \\vivek-pc\E\516980_files\barchart-grey.png$	Bank Loans & Overdrafts and LTL	£66	-94.4%	£1,176	-53.8%	£2,544	-45.8%	£4,691	169.9%	£1,738
$Description: \\vivek-pc\E\516980_files\barchart-grey.png$	Other Long Term Finance	0	-	0	-	0	-	0	-	0
$Description: \\vivek-pc\E\516980_files\barchart-grey.png$	Total Long Term Liabilities	£66	-94.4%	£1,176	-53.8%	£2,544	-45.8%	£4,691	169.9%	£1,738

CAPITAL & RESERVES

	Date Of Accounts	31/07/17	(%)	31/07/16	(%)	31/05/15	(%)	31/05/14	(%)	31/05/13
$Description: \\vivek-pc\E\516980_files\barchart-grey.png$	Called Up Share Capital	£200	-	£200	-	£200	-	£200	-	£200
$Description: \\vivek-pc\E\516980_files\barchart-grey.png$	P & L Account Reserve	£326,827	27.1%	£257,168	1.1%	£254,487	3.9%	£244,859	66.1%	£147,451
$Description: \\vivek-pc\E\516980_files\barchart-grey.png$	Revaluation Reserve	-	-	-	-	-	-	-	-	-
$Description: \\vivek-pc\E\516980_files\barchart-grey.png$	Sundry Reserves	-	-	-	-	-	-	-	-	-
$Description: \\vivek-pc\E\516980_files\barchart-grey.png$	Shareholder Funds	£327,027	27.1%	£257,368	1.1%	£254,687	3.9%	£245,059	66%	£147,651

OTHER FINANCIAL ITEMS

	Date Of Accounts	31/07/17	(%)	31/07/16	(%)	31/05/15	(%)	31/05/14	(%)	31/05/13
$Description: \\vivek-pc\E\516980_files\barchart-grey.png$	Net Worth	£327,027	27.1%	£257,368	1.1%	£254,687	4.7%	£243,312	79.6%	£135,476
$Description: \\vivek-pc\E\516980_files\barchart-grey.png$	Working Capital	£318,195	30.9%	£243,160	3.4%	£235,123	6.8%	£220,232	71%	£128,817
$Description: \\vivek-pc\E\516980_files\barchart-grey.png$	Total Assets	£557,760	-18.9%	£687,747	12.2%	£613,217	-19.3%	£760,325	-18.9%	£937,088
$Description: \\vivek-pc\E\516980_files\barchart-grey.png$	Total Liabilities	£230,733	-46.4%	£430,379	20%	£358,530	-30.4%	£515,266	-34.7%	£789,437
$Description: \\vivek-pc\E\516980_files\barchart-grey.png$	Net Assets	£327,027	27.1%	£257,368	1.1%	£254,687	3.9%	£245,059	66%	£147,651

CASH FLOW

	Date Of Accounts	31/07/17	(%)	31/07/16	(%)	31/05/15	(%)	31/05/14	(%)	31/05/13
$Description: \\vivek-pc\E\516980_files\barchart-grey.png$	Net Cashflow from Operations	-	-	-	-	-	-	-	-	-
$Description: \\vivek-pc\E\516980_files\barchart-grey.png$	Net Cashflow before Financing	-	-	-	-	-	-	-	-	-
$Description: \\vivek-pc\E\516980_files\barchart-grey.png$	Net Cashflow from Financing	-	-	-	-	-	-	-	-	-
$Description: \\vivek-pc\E\516980_files\barchart-grey.png$	Increase in Cash	-	-	-	-	-	-	-	-	-

MISCELLANEOUS

	Date Of Accounts	31/07/17	(%)	31/07/16	(%)	31/05/15	(%)	31/05/14	(%)	31/05/13
	Contingent Liability	NO	-	NO	-	NO	-	NO	-	NO
$Description: \\vivek-pc\E\516980_files\barchart-grey.png$	Capital Employed	£327,093	26.5%	£258,544	0.5%	£257,231	3%	£249,750	67.2%	£149,389
$Description: \\vivek-pc\E\516980_files\barchart-grey.png$	Number of Employees	5	-	-	-	-	-	-	-	-
	Accountants	BARKER WILKINSON LTD
	Auditors
	Auditor Comments	The company is exempt from audit
	Bankers
	Bank Branch Code

RATIOS

	Date Of Accounts	31/07/17	31/07/16	31/05/15	31/05/14	31/05/13
$Description: \\vivek-pc\E\516980_files\barchart-grey.png$	Pre-tax profit margin %	-	-	-	11.10	4.03
$Description: \\vivek-pc\E\516980_files\barchart-grey.png$	Current ratio	2.38	1.57	1.66	1.43	1.16
$Description: \\vivek-pc\E\516980_files\barchart-grey.png$	Sales/Net Working Capital	-	-	-	5.03	9.05
$Description: \\vivek-pc\E\516980_files\barchart-grey.png$	Gearing %	0	0.50	1	1.90	1.20
$Description: \\vivek-pc\E\516980_files\barchart-grey.png$	Equity in %	58.60	37.40	41.50	32.30	16
$Description: \\vivek-pc\E\516980_files\barchart-grey.png$	Creditor Days	-	-	-	32.16	73.55
$Description: \\vivek-pc\E\516980_files\barchart-grey.png$	Debtor Days	-	-	-	80.37	95.40
$Description: \\vivek-pc\E\516980_files\barchart-grey.png$	Liquidity/Acid Test	0.90	0.69	0.50	0.63	0.52
$Description: \\vivek-pc\E\516980_files\barchart-grey.png$	Return On Capital Employed %	-	-	-	49.20	31.44
$Description: \\vivek-pc\E\516980_files\barchart-grey.png$	Return On Total Assets Employed %	-	-	-	16.16	5.01
$Description: \\vivek-pc\E\516980_files\barchart-grey.png$	Current Debt Ratio	0.70	1.66	1.39	2.08	5.33
$Description: \\vivek-pc\E\516980_files\barchart-grey.png$	Total Debt Ratio	0.70	1.67	1.40	2.10	5.34
$Description: \\vivek-pc\E\516980_files\barchart-grey.png$	Stock Turnover Ratio %	-	-	-	36.94	43.07
$Description: \\vivek-pc\E\516980_files\barchart-grey.png$	Return on Net Assets Employed %	-	-	-	50.14	31.81

Report Notes

There are no notes to display.

Status History

No Status History found

Event History

Date	Description
02/05/2018	New Accounts Filed
02/05/2018	New Accounts Filed
12/09/2017	Confirmation Statement
09/05/2017	New Accounts Filed
14/09/2016	Payment Data Update Received
21/08/2016	Annual Returns
04/03/2016	New Accounts Filed
19/02/2016	Payment Data Update Received
11/11/2015	Payment Data Update Received
02/10/2015	Annual Returns
14/03/2015	New Accounts Filed
24/09/2014	Annual Returns
19/11/2013	New Accounts Filed
19/11/2013	New Accounts Filed
23/10/2013	Annual Returns

Previous Company Names

No Previous Names found

Writ Details

No writs found

Statistics

Group	-
Linkages	0 companies
Countries	In 0 countries

Summary

Holding Company	-
Ownership Status
Ultimate Holding Company	-

Group Structure Full

No Group Structure

Statistics

Group	0 companies
Linkages	0 companies
Countries	In 0 countries

Mortgage Details

Mortgage Type:	ALL ASSETS DEBENTURE
Date Charge Created:	31/05/12
Date Charge Registered:	08/06/12
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	RBS INVOICE FINANCE LIMITED
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
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
Mortgage Type:	DEBENTURE
Date Charge Created:	07/09/09
Date Charge Registered:	18/09/09
Date Charge Satisfied:	03/03/12
Status:	SATISFIED
Person(s) Entitled:	LAWRIE ALDERMAN
Amount Secured:
Details:	FLOATING CHARGE OVER THE UNDERTAKING, PROPERTY, RIGHTS AND ASSETS PRESENT AND FUTURE

Mortgage Type:	DEBENTURE
Date Charge Created:	02/09/09
Date Charge Registered:	05/09/09
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	NATIONAL WESTMINSTER BANK PLC
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details:	FIXED AND FLOATING CHARGE OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE, INCLUDING GOODWILL, UNCALLED CAPITAL, BUILDINGS, FIXTURES, FIXEDPLANT & MACHINERY

Previous Director/Company Secretaries

Name	Current Active Appointments	Previous Appointments	Dissolved Companies
EML RETAIL DISPLAY LIMITED	0	1	0
Mark Roderick McLennan	1	2	1

Total Persons With Significant Control	1	Total Statements
Active	1	Active
Ceased	0	Ceased

Active Persons With Significant Control

Name	Mr Lawrence Alderman	Kind	Individual Person With Significant Control
Address	Warner House 39 Jubilee Trade Centre, Jubilee Road, Letchworth Garden City	Country Of Residence	England
Post Code	SG6 1SP	Nationality	English
Date of Birth	02/1955	Notified On	06/04/2016
Nature Of Control	Ownership of shares - between 50% and 75%

Ceased Persons With Significant Control

No Ceased Persons With Significant Control To Display

Active Statements

No Active Statements To Display

Ceased Statements

No Ceased Statements To Display
Average Invoice Value	£1155
Invoices available	2
Paid	2
Outstanding	0

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	2	0	0	0	0
Outstanding	0	0	0	0	0

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 67.77
UK Pound	1	INR 89.96
Euro	1	INR 78.86
GBP	1	INR 90.16

Note: Above are approximate rates obtained from sources believed to be correct

INFORMATION DETAILS

Analysis Done by :	PRA

Report Prepared by :	NIT

RATING EXPLANATIONS

Credit Rating	Explanation	Rating Comments
A++	Minimum Risk	Business dealings permissible with minimum risk of default
A+	Low Risk	Business dealings permissible with low risk of default
A	Acceptable Risk	Business dealings permissible with moderate risk of default
B	Medium Risk	Business dealings permissible on a regular monitoring basis
C	Medium High Risk	Business dealings permissible preferably on secured basis
D	High Risk	Business dealing not recommended or on secured terms only
NB	New Business	No recommendation can be done due to business in infancy stage
NT	No Trace	No recommendation can be done as the business is not traceable

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

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 are as follows:

· Financial condition covering various ratios

· Company background and operations size

· Promoters / Management background

· Payment record

· Litigation against the subject

· Industry scenario / competitor analysis

· Supplier / Customer / Banker review (wherever available)

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