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|
MIRA INFORM REPORT
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Report No. : |
509076 |
|
Report Date : |
16.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
WINTERSTEIGER AG |
|
|
|
|
Formerly Known As : |
·
WINTERSTEIGER GESELLSCHAFT M.B.H. ·
WINTERSTEIGER GMBH |
|
|
|
|
Registered Office : |
Johann Michael Dimmelstraße 9, A-4910 Ried Innkreis |
|
|
|
|
Country : |
Austria |
|
|
|
|
Financials (as on) : |
31.12.2016 |
|
|
|
|
Date of Incorporation : |
1983 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
·
Manufacture of other general-purpose
machinery n.e.c ·
Manufacture of agricultural and forestry
machinery ·
Manufacture of power-driven hand
tools |
|
|
|
|
No. of Employees : |
526 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Good |
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|
|
|
Payment Behaviour : |
No Complaints |
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|
|
|
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) |
|
Austria |
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 |
AUSTRIA - ECONOMIC OVERVIEW
Austria, with its well-developed market economy, skilled labor force, and high standard of living, is closely tied to other EU economies, especially Germany's. Its economy features a large service sector, a relatively sound industrial sector, and a small, but highly developed agricultural sector.
Economic growth has been relatively weak in recent years, approaching 1% in 2015, but rising to 2.3% in 2017. Austria's 5.8% unemployment rate, while low by European standards, is at its highest rate since the end of World War II, driven by an increased number of refugees and EU migrants entering the labor market. Without extensive vocational training programs and generous early retirement, the unemployment rate would be even higher.
Although Austria's fiscal position compares favorably with other euro-zone countries, it faces several external risks, such as unexpectedly weak world economic growth threatening the export market, Austrian banks' continued exposure to Central and Eastern Europe, repercussions from the Hypo Alpe Adria bank collapse, political and economic uncertainties caused by the European sovereign debt crisis, the current refugee crisis, and continued unrest in Russia/Ukraine. The budget deficit stood at 1% of GDP in 2017 and public debt declined slightly to 81.7% of GDP in 2017 after reaching a post-war high of 84.6% in 2016
|
Source
: CIA |
Company
name and address
|
|
|
Activities
ÖNACE 28290 50% Manufacture of other general-purpose machinery
n.e.c.
ÖNACE 28300 30% Manufacture of agricultural and forestry machinery
ÖNACE 28240 20% Manufacture of power-driven hand tools
Financial
data
Financial details can also be entered during the period,
irrespective of the balance sheet date.
|
total turnover (total sales) |
2017 |
EUR |
95.700.000,00 |
(estimated) |
|
total turnover (total sales) |
2016 |
EUR |
94.284.507,06 |
(exact) |
|
total turnover (total sales) |
2015 |
EUR |
84.192.628,85 |
(exact) |
|
total turnover (total sales) |
2014 |
EUR |
84.212.541,02 |
(exact) |
|
total turnover (total sales) |
2013 |
EUR |
83.370.456,50 |
(exact) |
|
turnover (sales) - group |
2016 |
EUR |
140.641.447,96 |
(exact) |
|
turnover (sales) - group |
2015 |
EUR |
138.927.449,59 |
(exact) |
|
turnover (sales) - group |
2014 |
EUR |
135.849.380,50 |
(exact) |
|
turnover (sales) - group |
2013 |
EUR |
141.929.285,57 |
(exact) |
|
turnover (sales) - group |
2012 |
EUR |
126.184.181,00 |
(exact) |
|
total stock |
2018 |
EUR |
17.952.000,00 |
(approx.) |
|
total investments |
2015 |
EUR |
5.877.288,03 |
(exact) |
|
total employees |
2018 |
|
526 |
(approx.) |
General company information
|
Company name |
Wintersteiger AG |
|||||||||
|
Year of incorporation |
1983 |
|||||||||
|
Type of company |
Manufacturing |
|||||||||
|
Legal form |
joint stock company since 2004-09-23 |
|||||||||
|
Companies house number |
FN 111807 y Ried im Innkreis since 1983-07-12 |
|||||||||
|
Import |
|
|||||||||
|
Export |
|
|||||||||
|
ARA-number |
7799 |
|||||||||
|
VAT number |
ATU 23702704 |
|||||||||
|
number - Austrian National Bank |
176982 |
|||||||||
|
Last balance sheet: |
2016 |
|||||||||
|
Banking connection |
|
Locations
|
operational |
A-4910 Ried im Innkreis, J.-M. Dimmelstr. 9 |
registered office |
|
operational |
A-4910 Ried Innkreis, Johann Michael Dimmelstraße 9 |
registered headquarters, owned property |
|
|
0043 7752 919 |
office@wintersteiger.at |
Private
data
|
Surname |
Date of birth |
Address |
Executive positions |
Further executive positions (as registered in the companies'
house) |
|
Ing. Andreas Doubrava |
1977-10-12 |
A-4872 Neukirchen Vöckla Sonnleiten 9 |
joint signing clerk |
1 |
|
Mag. Ernst Wageneder |
1970-09-27 |
A-4753 Taiskirchen im Innkreis Wiesenhang 24 |
joint signing clerk |
0 |
|
Dr. Florestan von Boxberg |
1961-09-20 |
D-69120 Heidelberg Hainsbachweg 5 |
chairman of the executive board |
3 |
|
Mag. Harold Wilfried Kostka |
1972-02-24 |
A-4654 Bad Wimsbach Neydharting Seulbergerstraße 17 |
member of the executive board |
2 |
|
Dipl-Ing. Christian Rauscher |
1967-09-23 |
A-5230 Mattighofen Grabenstraße 6 |
member of the executive board |
8 |
|
Wolff Lange |
1957-10-21 |
D-20354 Hamburg Gänsemarkt 21-23 |
chairman of the supervisory board |
0 |
|
Klaus Jaenecke |
1955-12-27 |
D-80539 München Maximilianstraße 35a |
deputy chairman of the supervisory board |
0 |
|
Karl Bachinger |
1965-09-02 |
A-4950 Altheim Diepolding 8 |
member of the supervisory board |
0 |
|
Rainer Bernhardt |
1950-11-27 |
D-22967 Tremsbüttel Kiebitzmoor 4 |
member of the supervisory board |
0 |
|
Dipl-Ing. Raimund Diederichs |
1955-01-29 |
A-1190 Wien Cobenzlgasse 32 |
member of the supervisory board |
1 |
|
Dr. Michael Hule |
1960-05-27 |
A-1190 Wien Langackergasse 28A |
member of the supervisory board |
24 |
|
Georg Ibinger |
1960-05-26 |
A-4924 Waldzell Wirmling 12 |
member of the supervisory board |
0 |
|
August Wimmer |
1959-06-23 |
A-4941 Mehrnbach Käfermühl 6 |
member of the supervisory board |
0 |
Business unit manager
|
Surname |
Date of birth |
Address |
Executive positions |
Further executive positions (as registered in the companies'
house) |
|
Gerhard Gadermair |
|
A-4910 Ried Innkreis Johann Michael Dimmelstraße 9(c/o) |
head of accounting |
0 |
|
Ing. Helmut Gruber |
|
A-4910 Ried Innkreis Johann Michael Dimmelstraße 9(c/o) |
head of purchasing |
0 |
|
Franz Gangl |
|
A-4910 Ried Innkreis Johann Michael Dimmelstraße 9(c/o) |
head of marketing |
0 |
|
Gerald Zwicklhuber |
|
A-4910 Ried Innkreis Johann Michael Dimmelstraße 9(c/o) |
head of EDP |
0 |
|
Gerhard Hattinger |
|
A-4910 Ried Innkreis Johann Michael Dimmelstraße 9(c/o) |
technical director |
0 |
Ownership
structure and related companies
|
Company name |
Address |
Shareholdings in % |
Since |
Commercial register no. |
|
Shares in this company are held by: |
||||
|
LJH-Holding GmbH |
D-21521 Wohltorf Waldstr. 7 |
74,9 % |
|
|
|
ULM Management GmbH |
D-20148 Hamburg Mittelweg 124 |
25,1 % |
|
|
|
|
||||
|
This company holds 100% of the shares in: |
||||
|
Gruber Automations GmbH |
A-4931 Mettmach Kirchheimerstraße 3 |
100 % |
2012-11-17 |
FN 268044 h |
|
This company holds less than 50% of the shares in: |
||||
|
Techno-Z Ried Technologiezentrum GmbH |
A-4910 Ried Innkreis Molkereistraße 4 |
2,37 % |
2010-10-07 |
FN 186116 a |
Financials
Balance
Sheet (absolute) all amounts in EUR
|
|
2016-12-31 |
|
Franchises, patents, licences, trademarks and similar rights and
advantages |
466.555,00 |
|
Sum intangible assets |
466.555,00 |
|
|
|
|
Land and leasehold rights with buildings thereon including
building on land owned by third parties |
8.455.036,75 |
|
Other operating and business equipment |
1.411.079,00 |
|
Technical plants and machines |
693.619,00 |
|
Advanced payments and constructions in progress |
409.418,33 |
|
Sum tangible assets |
10.969.153,08 |
|
|
|
|
Shares on related firms |
22.882.161,00 |
|
Other shareholdings |
38.305,34 |
|
Loans to related firms |
11.694.000,00 |
|
Sum financial assets |
34.614.466,34 |
|
|
|
|
Sum fixed assets |
46.050.174,42 |
|
|
|
|
Raw-, auxiliary materials and supplies |
6.588.342,87 |
|
Unfinished products |
5.854.743,83 |
|
Finished products |
5.457.265,03 |
|
Advanced payments |
52.050,77 |
|
Sum stock |
17.952.402,50 |
|
|
|
|
Claims from delivered goods and performed services |
9.540.891,29 |
|
Claims against related firmes Claims against companies with
shareholding relationship |
12.245.841,49 |
|
Other claims and assets |
2.403.096,20 |
|
Sum claims |
24.189.828,98 |
|
|
|
|
Cash on hand, cheques and bank deposits |
1.037.958,53 |
|
Sum cash and bank |
1.037.958,53 |
|
|
|
|
Sum current assets |
43.180.190,01 |
|
|
|
|
Deferred charges |
597.640,01 |
|
Sum deferred charges |
597.640,01 |
|
Assets |
89.828.004,44 |
|
|
|
|
Subscribed/declared capital |
15.000.000,00 |
|
Legal reserves |
1.500.000,00 |
|
Other reserves |
1.450.467,26 |
|
Balance sheet profit/balance sheet loss |
38.710.525,48 |
|
Thereof profit/loss carried forward |
34.270.803,91 |
|
Sum equity capital |
56.660.992,74 |
|
|
|
|
Reserves for severance pays |
5.294.462,00 |
|
Tax reserves |
1.627.930,00 |
|
Other reserves |
6.383.616,00 |
|
Sum reserves |
13.306.008,00 |
|
|
|
|
Liabilities against credit institutes |
11.818.234,00 |
|
Received advanced payments for orders |
1.224.357,50 |
|
Liabilities from delivered goods and performed services |
2.926.305,09 |
|
Liabilities against related firms |
11.698,11 |
|
Other liabilities |
3.601.925,07 |
|
Sum liabilities |
19.582.519,77 |
|
|
|
|
Deferred income |
278.483,93 |
|
Sum deferred income |
278.483,93 |
|
|
|
|
Liabilities and shareholders'equity |
89.828.004,44 |
|
Balance sheet sum |
89.828.004,44 |
|
|
|
P / L
Account (absolute) all amounts in EUR
|
|
2016-12-31 |
|
Gross sales |
94.284.507,06 |
|
Increase or decrease in finished and unfinished goods and in
service claims |
573.938,03 |
|
Other manufacturing costs capitalized |
19.419,80 |
|
Total turnover or gross profit |
94.877.864,89 |
|
|
|
|
Other operating profits |
1.131.310,96 |
|
Other operating profits totally |
1.131.310,96 |
|
|
|
|
Costs for obtained services |
-4.477.235,80 |
|
Material costs |
-38.298.825,21 |
|
Costs for obtained services totally |
-42.776.061,01 |
|
|
|
|
Wages |
-9.456.540,56 |
|
Salaries |
-16.918.336,90 |
|
Costs for severance pays |
-677.834,88 |
|
Costs for old age pension |
-70.000,00 |
|
Legal fringe benefits and other payments depending on salaries |
-6.562.872,83 |
|
Other social fringe benefits |
-260.158,33 |
|
Personnel expenses totally |
-33.945.743,50 |
|
|
|
|
Depreciation of intangible assets, tangible assets,activated
expenses for the set up and expansion of business operation |
-1.723.041,74 |
|
Depreciation tangible assets / intangible assets totally |
-1.723.041,74 |
|
|
|
|
Other operating costs |
-12.219.847,68 |
|
Total costs |
-12.219.847,68 |
|
|
|
|
Operating result totally |
5.344.481,92 |
|
|
|
|
Profits from shareholdings |
3.296.161,08 |
|
Income from other securities and loans of financial assets |
459.096,59 |
|
Interest income, securties income and similar income |
53.142,83 |
|
Profits from the retirement of and investment in financial
assets |
1.178.005,00 |
|
Disbursements from other financial assets and from securities of
current assets (e.g. depreciations) |
-4.003.881,32 |
|
Interest and similar disbursements |
-711.232,47 |
|
Financial profits totally |
271.291,71 |
|
|
|
|
Results from usual business activity totally |
5.615.773,63 |
|
|
|
|
Taxes on income and profits |
-1.176.052,06 |
|
Taxes on income and profits totally |
-1.176.052,06 |
|
|
|
|
Annual surplus/annual deficit totally |
4.439.721,57 |
|
|
|
|
Annual profit/annual loss totally |
4.439.721,57 |
|
|
|
|
Profit and loss carried forward from previous year |
34.270.803,91 |
|
Transfer of profits totally |
34.270.803,91 |
|
|
|
|
B/S profit/ B/S loss from profit and loss account |
38.710.525,48 |
|
|
|
Key
ratios
|
|
2016 |
|
Cashflow II |
6.162.763,31 |
|
Debt amortisation period in years |
4,97 |
|
Bank indebtedness |
13,16 |
|
Equity capital share in % |
63,95 |
|
Social capital share |
5,89 |
|
Fixed assets coverage in % |
134,54 |
|
Net profit ratio |
5,92 |
|
Capital turnover |
1,06 |
|
Return on investment in % |
7,04 |
|
Cashflow in % of operating performance |
6,50 |
|
Cashflow I |
7.338.815,37 |
|
Gross productivity |
2,79 |
|
Net productivity |
1,53 |
|
Operating performance |
94.877.864,89 |
|
Inventories in % of operating performance |
18,92 |
|
Gross profit |
52.101.803,88 |
Land Register
|
Last check |
2016-04-11 |
|
Entry number |
Cadastral community |
Journal number |
|
1837 |
Ried im Innkreis O 46149 |
4685/2014 |
|
Section A – type of property: |
|
|
|
Section B – ownership structure: |
|
|
|
Section C – encumbrances: |
|
|
Commercial
register
Source of data from commercial register: Republic of Austria
represented by the Federal Ministry of Justice
|
firm (style) |
33 Wintersteiger AG |
|
legal form |
33 Aktiengesellschaft |
|
registered office |
1 politischer Gemeinde Ried im Innkreis |
|
business adress |
1 J.-M. Dimmelstr. 9 |
|
capital |
42 EUR 15.000.000,00 |
|
reference date annual accounts |
1 31.Dezember |
|
annual accounts |
84 zum 31.12.2016 eingereicht am 22.09.2017 |
|
consolidated accounts |
85 zum 31.12.2016 eingereicht am 22.09.2017 |
|
power of representation |
33 Die Gesellschaft wird, wenn nur ein Vorstandsmitglied be- |
|
other provisions |
33 Der Vorstand besteht aus mindestens einer und höchstens |
|
|
|
|
board of directors |
|
|
AI Dipl.-Ing. Christian
Rauscher, geb. 23.09.1967 |
|
|
|
|
|
proxy |
|
|
AM Ing. DI (FH) Andreas
Doubrava MSc, geb. 12.10.1977 |
|
|
|
|
|
supervisory board |
|
|
G Dr. Michael Hule |
|
|
|
|
|
general table |
|
|
|
|
Historical
development
|
Year of incorporation |
1983 |
|
Date of registration |
1983-07-12 |
Change
of company name
|
from |
to |
company name |
|
1994-08-05 |
1994-08-05 |
Wintersteiger Gesellschaft m.b.H. |
|
1994-08-05 |
2004-10-12 |
Wintersteiger GmbH |
Change
of legal form
|
from |
to |
company name |
|
1994-08-05 |
2004-10-12 |
limited liability company |
Change
in share capital
|
from |
to |
asset |
|
|
1994-08-05 |
1995-07-29 |
ATS |
32.000.000,00 |
|
1995-07-29 |
2000-06-29 |
ATS |
50.000.000,00 |
|
2000-06-29 |
2001-07-26 |
ATS |
70.000.000,00 |
|
2001-07-26 |
2004-07-22 |
EUR |
7.000.000,00 |
|
2004-07-22 |
2007-06-26 |
EUR |
10.000.000,00 |
Former
executives
|
from |
to |
position |
name |
|
1996-08-07 |
1997-06-07 |
joint signing clerk |
Rudolf Hittmair |
|
2003-07-11 |
2003-11-06 |
member of the supervisory board |
Walter Durchschlag |
|
2000-08-05 |
2001-11-10 |
member of the supervisory board |
Walter Durchschlag |
|
2003-11-06 |
2004-10-12 |
deputy chairman of the supervisory board |
Walter Durchschlag |
|
2001-11-10 |
2003-07-11 |
manager |
Walter Durchschlag |
|
1994-08-10 |
1996-04-25 |
manager |
Nikolaus Maximoff |
|
2013-03-23 |
2015-10-02 |
chairman of the executive board |
Reiner Thalacker |
|
2012-06-14 |
2013-03-23 |
member of the executive board |
Reiner Thalacker |
|
2002-12-14 |
2004-08-06 |
manager |
Michael Neuwirth |
|
2001-11-10 |
2002-12-14 |
joint signing clerk |
Michael Neuwirth |
|
1996-08-07 |
1998-09-25 |
member of the supervisory board |
Karl Ozlsberger |
|
1995-07-29 |
1996-08-07 |
manager |
Karl Ozlsberger |
|
1995-04-22 |
1995-07-29 |
member of the supervisory board |
Karl Ozlsberger |
|
2005-06-28 |
2006-06-22 |
member of the supervisory board |
Herbert Litzlbauer |
|
1996-04-25 |
2004-10-12 |
member of the supervisory board |
Herbert Litzlbauer |
|
1994-08-05 |
2004-10-12 |
partner |
Rainer Bartram |
|
1994-08-05 |
2009-01-20 |
chairman of the supervisory board |
Rainer Bartram |
|
1994-08-05 |
2000-10-03 |
partner |
Margot Mayrhuber |
|
2006-03-30 |
2006-07-13 |
member of the supervisory board |
Wolff Lange |
|
2006-07-13 |
2009-01-20 |
deputy chairman of the supervisory board |
Wolff Lange |
|
1994-08-05 |
2001-03-21 |
partner |
Roger Prasser |
|
1994-08-05 |
1994-08-10 |
manager |
Roger Prasser |
|
1995-07-29 |
2002-04-17 |
joint signing clerk |
Wolfgang Vilsecker |
|
2008-05-17 |
2014-01-08 |
member of the executive board |
Roland Greul |
|
2002-10-02 |
2008-05-17 |
joint signing clerk |
Roland Greul |
|
1996-04-25 |
2004-10-12 |
member of the supervisory board |
Georg Ibinger |
|
1996-04-25 |
2001-11-10 |
manager |
Peter Kuchner |
|
2003-01-04 |
2004-10-12 |
manager |
Walter Aumayr |
|
2004-10-12 |
2012-11-16 |
member of the executive board |
Walter Aumayr |
|
2004-08-06 |
2004-10-12 |
manager |
Günther Kamml |
|
2004-10-12 |
2008-05-17 |
member of the executive board |
Günther Kamml |
|
2008-08-19 |
2012-04-03 |
member of the executive board |
Markus Piber |
|
1995-07-29 |
2003-07-11 |
joint signing clerk |
Franz Nöbauer |
|
2006-07-21 |
2013-04-11 |
member of the supervisory board |
Johannes Kikinger |
|
2004-10-12 |
2006-07-21 |
deputy chairman of the supervisory board |
Johannes Kikinger |
|
1994-08-05 |
2001-03-21 |
partner |
Peter Süß |
|
1994-08-05 |
1995-07-29 |
manager |
Peter Süß |
|
2001-11-10 |
2002-10-11 |
joint signing clerk |
Gerhard Machtlinger |
|
2006-06-22 |
2015-05-20 |
member of the supervisory board |
Georg Seifriedsberger |
|
1998-06-30 |
2002-07-02 |
joint signing clerk |
Berthold Lindorfer |
|
2001-11-10 |
2003-07-11 |
member of the supervisory board |
Eric Heinke |
|
1995-07-29 |
1996-08-07 |
member of the supervisory board |
Eric Heinke |
Former
shareholders
|
from |
to |
position |
name |
birth date |
|
1994-08-05 |
2004-10-12 |
partner |
Rainer Bartram |
1924-03-03 |
|
1994-08-05 |
2000-10-03 |
partner |
Margot Mayrhuber |
1956-07-02 |
|
1994-08-05 |
2001-03-21 |
partner |
Peter Süß |
1946-11-27 |
|
1994-08-05 |
2001-03-21 |
partner |
Roger Prasser |
1953-04-23 |
|
2001-03-21 |
2004-10-12 |
partner |
UBF Mittelstandsfinanzierungs AG in Abwicklung |
|
Former
shareholdings
|
from |
to |
company name |
|
2011-05-31 |
2014-08-12 |
Boot-Doc Handels-G.m.b.H. |
|
2008-02-20 |
2008-10-10 |
CimaTech CAD/CAM Services GmbH in Liqu. |
|
|
1990-01-10 |
Wintersteiger Gesellschaft m.b.H. & Co. |
Mergers
|
On |
position |
name |
|
2014-08-12 |
merged with |
Boot-Doc Handels-G.m.b.H. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 60.53 |
|
|
1 |
INR 91.49 |
|
Euro |
1 |
INR 80.53 |
|
AUD |
1 |
INR 50.75 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
KET |
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)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.