MIRA INFORM REPORT

Report No. :	497809
Report Date :	20.03.2018

IDENTIFICATION DETAILS

Name :	STAN CHEM INTERNATIONAL LIMITED
Registered Office :	4 Kings Road Reading Berkshire RG1 3AA
Country :	United Kingdom
Financials (as on) :	31.10.2016
Date of Incorporation :	02.11.1977
Com. Reg. No.:	01336946
Legal Form :	Private limited with Share Capital
Line of Business :	· Wholesale of chemical products · The chemical distributors and processors.
No. of Employees :	93 (2016)

RATING & COMMENTS

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

MIRA’s Rating :

A

Credit Rating	Explanation	Rating Comments
A	Acceptable Risk	Business dealings permissible with moderate risk of default

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

Country Name	Previous Rating (30.09.2017)	Current Rating (31.12.2017)
United Kingdom	A1	A1

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

STAN CHEM INTERNATIONAL LIMITED

4 KINGS ROAD READING BERKSHIRE RG1 3AA

Company No.

01336946

Company Status

Active - Accounts Filed

Company Summary

Registered Address 4 KINGS ROAD
READING
BERKSHIRE
RG1 3AA

Trading Address 4 Kings Road
Reading
Berkshire
RG1 3AA

Website Address http://www.stanchem.co.uk

Telephone Number 01189580247

Fax Number

TPS No

FPS Yes

Incorporation Date 02/11/1977

Previous Name

Type Private limited with Share Capital

FTSE Index -

Date of Change -

Filing Date of Accounts 26/07/2017

Currency GBP

Share Capital £65

SIC07 46750

Charity Number -

SIC07 Description WHOLESALE OF CHEMICAL PRODUCTS

Principal Activity The chemical distributors and processors.

Additional Information

CCJ's 0 (£0)

No CCJ Information To Display

Ultimate Holding Company HC 1228 LIMITED

Accountant -

Mortgages 10

Group 4 companies

Linkages 0 companies

Countries In 0 countries

Key Financials

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

31/10/2016 £19,368,802 -£741,037 £7,362,448 93

31/10/2015 £19,694,511 -£251,983 £8,100,589 92

31/10/2014 £19,389,776 £578,677 £8,049,720 85

Mortgage Summary

Total Mortgage 10

Outstanding 3

Satisfied 7

Trade Debtors / Bad Debt Summary

Total Number of Documented Trade 0

Total Value of Documented Trade £0

Commentary

This company's ratio of total liabilities to total assets indicates the presence of moderate equity funding.

This company's return on total assets employed ratio indicates a poor or negative return on assets.

This company has only made late payments on a low percentage of invoices.

This company's bank loans and overdrafts (less cash) account for a moderate percentage of short term liabilities.

This company trades in an industry with a lower 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	4	Total Current Secretaries	0
Total Previous Directors / Company Secretaries	4	Total Person's With Significant Control	1

Current Directors

Title	Mr	Function	Director
Name	Leszek Richard Litwinowicz	Nationality	British
Date of Birth	05/1958	Present Appointments	12
Latest Address	4 Kings Road, Reading, Berkshire	Appointment Date	04/07/2014
Post Code	RG1 3AA
Title	Mr	Function	Director
Name	Paulus Rohof	Nationality	Dutch
Date of Birth	01/1957	Present Appointments	4
Latest Address	4 Kings Road, Reading, Berkshire	Appointment Date	04/07/2014
Post Code	RG1 3AA

Title	Mr	Function	Director
Name	Thomas Engelen	Nationality	Dutch
Date of Birth	04/1958	Present Appointments	4
Latest Address	4 Kings Road, Reading, Berkshire	Appointment Date	04/07/2014
Post Code	RG1 3AA
Title	Mr	Function	Director
Name	Robert Anthony Hankinson	Nationality	British
Date of Birth	01/1972	Present Appointments	4
Latest Address	5 The Courtyard Timothys Bridge Road, Stratford Enterprise Park, Stratford-Upon-Avon, Warwickshire	Appointment Date	01/02/2015
Post Code	CV37 9NP

Current Company Secretary

Top Shareholders

Name	Currency	Share Count	Share Type	Nominal Value	% of Total Share Count
HC1221 LTD	GBP	65	ORDINARY	1	100

Profit & Loss

	Date Of Accounts	31/10/16	(%)	31/10/15	(%)	31/10/14	(%)	31/10/13	(%)	31/10/12
	Weeks	52	(%)	52	(%)	52	(%)	52	(%)	52
	Currency	GBP	(%)	GBP	(%)	GBP	(%)	GBP	(%)	GBP
	Consolidated A/cs	N	(%)	N	(%)	N	(%)	N	(%)	N
	Turnover	£19,368,802	-1.7%	£19,694,511	1.6%	£19,389,776	-12.8%	£22,226,100	3.6%	£21,452,883
	Export	£8,348,603	-14.9%	£9,811,311	9%	£9,004,242	-15.2%	£10,622,810	9.9%	£9,666,273
	Cost of Sales	£14,446,507	-2.3%	£14,785,966	0.4%	£14,731,982	-13.3%	£17,000,814	2.3%	£16,612,226
	Gross Profit	£4,922,295	0.3%	£4,908,545	5.4%	£4,657,794	-10.9%	£5,225,286	7.9%	£4,840,657
	Wages & Salaries	£2,957,193	-1.7%	£3,007,744	27.4%	£2,360,406	16.3%	£2,030,425	8.3%	£1,875,508
	Directors Emoluments	£190,313	4.1%	£182,852	225.6%	£56,164	212%	£18,000	-53.2%	£38,422
	Operating Profit	-£690,593	-228.9%	-£209,974	-136%	£582,653	-71.2%	£2,022,207	12.6%	£1,795,457
	Depreciation	£309,010	30.4%	£237,045	52.6%	£155,342	70.2%	£91,244	4.7%	£87,116
	Audit Fees	£13,500	-	£13,500	-	-	-	-	-	£13,500
	Interest Payments	£50,444	20.1%	£42,009	374.5%	£8,853	98.1%	£4,468	-40.8%	£7,552
	Pre Tax Profit	-£741,037	-194.1%	-£251,983	-143.5%	£578,677	-71.4%	£2,021,292	12.9%	£1,789,711
	Taxation	£2,896	-99%	£302,852	385.7%	-£106,020	77.5%	-£471,265	-6.5%	-£442,400
	Profit After Tax	-£738,141	-999.9%	£50,869	-89.2%	£472,657	-69.5%	£1,550,027	15%	£1,347,311
	Dividends Payable	-	-	-	-100%	£32,580	-	-	-100%	£89,213
	Retained Profit	-£738,141	-999.9%	£50,869	-88.4%	£440,077	-71.6%	£1,550,027	23.2%	£1,258,098

Balance Sheet

	Date Of Accounts	31/10/16	(%)	31/10/15	(%)	31/10/14	(%)	31/10/13	(%)	31/10/12
	Tangible Assets	£1,326,877	14.9%	£1,154,401	0.8%	£1,145,249	64%	£698,185	2.8%	£679,121
	Intangible Assets	0	-	0	-	0	-	0	-	0
	Total Fixed Assets	£1,326,877	14.9%	£1,154,401	0.8%	£1,145,249	64%	£698,185	2.8%	£679,121
	Stock	£2,463,379	61.5%	£1,524,953	-1.1%	£1,541,147	-10%	£1,712,091	-4.2%	£1,786,932
	Trade Debtors	£3,670,789	33.1%	£2,758,005	0.5%	£2,743,641	-39.9%	£4,561,434	22.1%	£3,736,867
	Cash	0	-100%	£75,019	-96.6%	£2,221,079	-26%	£3,001,910	44.6%	£2,075,961
	Other Debtors	£7,303,666	-1.4%	£7,410,793	139.7%	£3,091,421	612.6%	£433,800	31.8%	£329,057
	Miscellaneous Current Assets	£2,088	-	£2,088	-	0	-	0	-	0
	Total Current Assets	£13,439,922	14.2%	£11,770,858	22.6%	£9,597,288	-1.2%	£9,709,235	22.5%	£7,928,817
	Trade Creditors	£3,417,819	26%	£2,713,312	35%	£2,010,063	9%	£1,843,740	-0.1%	£1,845,002
	Bank Loans & Overdrafts	£64,087	53.2%	£41,824	-	0	-	0	-	0
	Other Short Term Finance	£2,151,049	74.3%	£1,234,184	999.9%	£79,110	-	0	-	0
	Miscellaneous Current Liabilities	£1,251,760	260.8%	£346,976	-31.6%	£507,433	-44.5%	£913,524	35.3%	£675,261
	Total Current Liabilities	£6,884,715	58.8%	£4,336,296	67%	£2,596,606	-5.8%	£2,757,264	9.4%	£2,520,263
	Bank Loans & Overdrafts and LTL	£583,723	10.1%	£530,198	451.1%	£96,211	137.5%	£40,513	44.4%	£28,059
	Other Long Term Finance	£74,436	-	0	-	0	-	0	-	0
	Total Long Term Liabilities	£519,636	6.4%	£488,374	407.6%	£96,211	137.5%	£40,513	44.4%	£28,059

Capital & Reserves

	Date Of Accounts	31/10/16	(%)	31/10/15	(%)	31/10/14	(%)	31/10/13	(%)	31/10/12
	Called Up Share Capital	£65	-	£65	-	£65	-	£65	-	£65
	P & L Account Reserve	£7,362,348	-9.1%	£8,100,489	0.6%	£8,049,620	5.8%	£7,609,543	25.6%	£6,059,516
	Revaluation Reserve	-	-	-	-	-	-	-	-	-
	Sundry Reserves	£35	-	£35	-	£35	-	£35	-	£35
	Shareholder Funds	£7,362,448	-9.1%	£8,100,589	0.6%	£8,049,720	5.8%	£7,609,643	25.6%	£6,059,616

Other Financial Items

	Date Of Accounts	31/10/16	(%)	31/10/15	(%)	31/10/14	(%)	31/10/13	(%)	31/10/12
	Net Worth	£7,362,448	-9.1%	£8,100,589	0.6%	£8,049,720	5.8%	£7,609,643	25.6%	£6,059,616
	Working Capital	£6,555,207	-11.8%	£7,434,562	6.2%	£7,000,682	0.7%	£6,951,971	28.5%	£5,408,554
	Total Assets	£14,766,799	14.2%	£12,925,259	20.3%	£10,742,537	3.2%	£10,407,420	20.9%	£8,607,938
	Total Liabilities	£7,404,351	53.5%	£4,824,670	79.2%	£2,692,817	-3.8%	£2,797,777	9.8%	£2,548,322
	Net Assets	£7,362,448	-9.1%	£8,100,589	0.6%	£8,049,720	5.8%	£7,609,643	25.6%	£6,059,616

Cash Flow

	Date Of Accounts	31/10/16	(%)	31/10/15	(%)	31/10/14	(%)	31/10/13	(%)	31/10/12
	Net Cashflow from Operations	-	-	-£2,641,428	-999.9%	£268,310	-80.6%	£1,380,156	-37.5%	£2,209,052
	Net Cashflow before Financing	-	100%	-£2,587,265	-231.3%	-£780,831	-184.3%	£925,949	-31.2%	£1,345,538
	Net Cashflow from Financing	-	-	£441,205	-	-	-	-	100%	-£3,236
	Increase in Cash	-	-	-£2,146,060	-174.8%	-£780,831	-184.3%	£925,949	-31%	£1,342,302

Miscellaneous

	Date Of Accounts	31/10/16	(%)	31/10/15	(%)	31/10/14	(%)	31/10/13	(%)	31/10/12
	Contingent Liability	YES	-	YES	-	YES	-	YES	-	YES
	Capital Employed	£7,882,084	-8.2%	£8,588,963	5.4%	£8,145,931	6.5%	£7,650,156	25.7%	£6,087,675
	Number of Employees	93	1.1%	92	8.2%	85	7.6%	79	2.6%	77
	Accountants
	Auditors	RAYNER ESSEX LLP
	Auditor Comments	The audit report contains no adverse comments
	Bankers	BARCLAYS BANK PLC
	Bank Branch Code

Ratios

	Date Of Accounts	31/10/16	31/10/15	31/10/14	31/10/13	31/10/12
	Pre-tax profit margin %	-3.83	-1.28	2.98	9.09	8.34
	Current ratio	1.95	2.71	3.70	3.52	3.15
	Sales/Net Working Capital	2.95	2.65	2.77	3.20	3.97
	Gearing %	7.90	6.50	1.20	0.50	0.50
	Equity in %	49.90	62.70	74.90	73.10	70.40
	Creditor Days	64.23	50.14	37.73	30.19	31.30
	Debtor Days	68.98	50.97	51.50	74.70	63.40
	Liquidity/Acid Test	1.59	2.36	3.10	2.90	2.43
	Return On Capital Employed %	-9.40	-2.93	7.10	26.42	29.39
	Return On Total Assets Employed %	-5.01	-1.94	5.38	19.42	20.79
	Current Debt Ratio	0.93	0.53	0.32	0.36	0.41
	Total Debt Ratio	1	0.59	0.33	0.36	0.42
	Stock Turnover Ratio %	12.71	7.74	7.94	7.70	8.32
	Return on Net Assets Employed %	-10.06	-3.11	7.18	26.56	29.53

Report Notes

There are no notes to display.

Status History

No Status History found

Event History

Date	Description
08/08/2017	Payment Data Update Received
07/08/2017	New Accounts Filed
07/08/2017	New Accounts Filed
01/08/2017	Payment Data Update Received
18/05/2017	Confirmation Statement
17/01/2017	Payment Data Update Received
11/08/2016	New Accounts Filed
01/05/2016	Annual Returns
04/05/2015	New Accounts Filed
04/05/2015	New Accounts Filed
28/04/2015	Annual Returns
02/03/2015	New Board Member Mr R.A. Hankinson appointed
06/11/2014	Change in Reg.Office
06/11/2014	Change of Company Postcode
30/07/2014	New Board Member Mr T. Engelen appointed

Previous Company Names

No Previous Names found

Writ Details

No writs found

Statistics

Group	4 companies
Linkages	0 companies
Countries	In 0 countries

Summary

Holding Company	HC1221 LIMITED
Ownership Status	Intermediately Owned
Ultimate Holding Company	HC 1228 LIMITED

Group Structure Full

Company Name	Registered Number	Latest Key Financials	Consol. Accounts	Turnover
HC 1228 LIMITED	09053137	31.10.2016	Y	£20,600,157
HC1221 LIMITED	08817926	31.10.2016	N
BIOTECHNICA SERVICES...	02788026	31.10.2016	N	£434,135
STAN CHEM INTERNATIO...	01336946	31.10.2016	N	£19,368,802

Mortgage Details

Mortgage Type:
Date Charge Created:	27/01/15
Date Charge Registered:	05/02/15
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	BARCLAYS BANK PLC;
Amount Secured:
Details:	F/H LAND AND BUILDINGS AT STAN CHEM INTERNATIONAL LIMITED VIKING ROAD GAPTON HALL INDUSTRIAL ESTATE GREAT YARMOUTH T/NO.NK89387CONTAINS NEGATIVE PLEDGE.
Mortgage Type:
Date Charge Created:	22/01/15
Date Charge Registered:	26/01/15
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	BARCLAYS BANK PLC;
Amount Secured:
Details:	CONTAINS FIXED CHARGE.CONTAINS FLOATINGCHARGE.FLOATING CHARGE COVERS ALL THE PROPERTY OR UNDERTAKING OF THE COMPANY.CONTAINS NEGATIVE PLEDGE.

Mortgage Type:
Date Charge Created:	04/07/14
Date Charge Registered:	17/07/14
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	BEECHBROOK MEZZANINE 11 JERSEY LIMITED (AS SECURITY AGENT);
Amount Secured:
Details:	F/H PROPERTY K/A STAN CHEM INTERNATIONAL LIMITED, VIKING ROAD, GREAT YARMOUTH T/NO:NK89387TRADE MARK:INOVIA DATE:04/11/2009 NUMBER:UK00002530675TRADE MARK:WATER LILLY DATE:21/07/1983 NUMBER:UK00001200198PLEASE SEE IMAGE FOR DETAILS OF FURTHER LAND (INCLUDING BUILDINGS), SHIP, AIRCRAFT OR INTELLECTUAL PROPERTY CHARGEDCONTAINS FIXED CHARGE.CONTAINS FLOATING CHARGE.CONTAINS NEGATIVE PLEDGE.
Mortgage Type:
Date Charge Created:	04/07/14
Date Charge Registered:	12/07/14
Date Charge Satisfied:	24/07/17
Status:	SATISFIED
Person(s) Entitled:	MS VIVIEN FREEMAN;MR PAUL STYLES;
Amount Secured:
Details:	CONTAINS FIXED CHARGE.CONTAINS NEGATIVEPLEDGE.

Mortgage Type:
Date Charge Created:	04/07/14
Date Charge Registered:	11/07/14
Date Charge Satisfied:	24/07/17
Status:	SATISFIED
Person(s) Entitled:	VIVIAN FREEMAN;PAUL STYLES;
Amount Secured:
Details:	CONTAINS FIXED CHARGE.CONTAINS NEGATIVEPLEDGE.
Mortgage Type:	LEGAL CHARGE
Date Charge Created:	13/01/06
Date Charge Registered:	13/01/06
Date Charge Satisfied:	14/01/14
Status:	SATISFIED
Person(s) Entitled:	BARCLAYS BANK PLC;
Amount Secured:
Details:	F/H INDUSTRIAL UNIT VIKING ROAD GAPTON HALL INDUSTRIAL ESTATE GREAT YARMOTH NORFOLK T/NO NK89387

Mortgage Type:	DEBENTURE
Date Charge Created:	04/08/05
Date Charge Registered:	12/08/05
Date Charge Satisfied:	23/08/07
Status:	SATISFIED
Person(s) Entitled:	BARCLAYS 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 CHARGES OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS UNCALLED CAPITAL BUILDINGS FIXTURESFIXED PLANT AND MACHINERY
Mortgage Type:	LEGAL CHARGE
Date Charge Created:	25/08/94
Date Charge Registered:	31/08/94
Date Charge Satisfied:	24/03/07
Status:	SATISFIED
Person(s) Entitled:	MIDLAND BANK PLC
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details:	F/H LAND AND HEREDITAMENTS SITUATE AND K/A LAND LYING TO NORTH OF HEWETT ROAD BRADWELL GREAT YARMOUTH (OTHERWISE K/A LAND AND BUILDINGS AT GAPTON HALL INDUSTRIAL ESTATE BRADWELL GREAT YARMOUTH) TOGETHER WITH ALL FIXTURES AND FITTINGS NOW OR AT ANY TIME HEREAFTER ON THE PROPERTY. THE BENEFITS OF ALLRIGHTS LICENCES AND THE GOODWILL OF THE MORTGAGOR INRELATION TO THE BUSINESS FROM TIME TO TIME CARRIED ON AT THE PROPERTY

Mortgage Type:	LEGAL CHARGE
Date Charge Created:	06/04/90
Date Charge Registered:	10/04/90
Date Charge Satisfied:	08/09/94
Status:	SATISFIED
Person(s) Entitled:	BARCLAYS BANK PLC
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details:	LAND AT GAPTON HALL IND ESTATE, BRADWELL, GREAT YARMOUTH, NORFOLK
Mortgage Type:	LEGAL CHARGE
Date Charge Created:	12/08/88
Date Charge Registered:	13/08/88
Date Charge Satisfied:	13/02/97
Status:	SATISFIED
Person(s) Entitled:	STANDARD CHARTERED BANK.
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details:	FIXED CHARGE, THE BALANCE STANDING TO THE CREDIT OF THE DEPOSIT ACCOUNT

Previous Director/Company Secretaries

Name	Current Active Appointments			Previous Appointments	Dissolved Companies
Vivien Freeman	0			4	4
Vivien Freeman	0			4	4
Paul Keith Styles	3			2	6
Louis Paul Wiener	0			1	0
Total Persons With Significant Control		1	Total Statements			0
Active		1	Active			0
Ceased		0	Ceased			0

Active Persons With Significant Control

Name	Hc1221 Limited	Kind	Corporate Entity With Significant Control
Address	5 The Courtyard Timothys Bridge Road, Stratford Enterprise Park, Stratford-Upon-Avon, Warwickshire	Notified On	06/04/2016
Post Code	CV37 9NP	Legal Form	Limited By Shares
Authority	United Kingdom (England And Wales)	Place Registered	Companies House
Country Registered	England And Wales	Registration Number	08817926
Nature Of Control	Ownership Of Shares 75 To 100 Percent,Voting Rights 75 To 100 Percent

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

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 65.04
UK Pound	1	INR 90.56
Euro	1	INR 79.78
GBP	1	INR 91.64

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

INFORMATION DETAILS

Analysis Done by :	PRI
Report Prepared by :	TRU

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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