MIRA
INFORM REPORT
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Report Date : |
27TH
May, 2006 |
IDENTIFICATION
DETAILS
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Name : |
NARMADA
INDUSTRIES |
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Formerly Known As : |
NARMADA
ELECTROPLATING |
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Registered Office : |
C-1/24,
25, 26, GIDC, Phase – I, Narmadanagar, Near Blue Star, Bharuch – 392015, Gujarat
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
1994 |
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Legal Form : |
Sole
Proprietory Concern |
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Line of Business : |
Manufacturer
and Exporter of Stainless Steel Furniture (Non Magnetic), Dining Tables, Sofa
Set, Utensils, Jhullas, etc. |
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 |
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Maximum Credit Limit : |
USD
5000 |
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Status : |
Satisfactory
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Payment Behaviour : |
Regular
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Litigation : |
Clear |
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Comments : |
Subject
is a small concern in manufacture and marketing of furniture. Trade relations
are fair. Payments are usually correct and as per commitments. The
concern can be considered normal for business dealings at usual trade terms
and conditions. |
LOCATIONS
|
Registered Office/ Factory : |
C-1/24,
25, 26, GIDC, Phase – I, Narmadanagar, Near Blue Star, Bharuch – 392015 |
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Tel. No.: |
91-2642-245631/225290 |
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Mobile No.: |
91-9426740431 |
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Fax No.: |
91-2642-225290 |
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Area : |
27000
Sq. ft |
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Location : |
Owned |
SOLE PROPRIETOR
|
Name : |
Mr.
Sachin Shah |
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Designation : |
Proprietor
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Date of Birth/Age : |
30
Years |
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Qualification : |
H. S.
C. |
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Experience : |
14
Years |
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Mobile: |
91-9426740431 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer
and Exporter of Stainless Steel Furniture (Non Magnetic), Dining Tables, Sofa
Set, Utensils, Jhullas, etc. |
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Product |
Manufacturer, exporter
and importer of the following product range: v
Stainless Steel Furniture v
Stainless Steel Utensils v
Stainless Steel Railings |
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Import |
China |
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Terms : |
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Selling : |
Cash |
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Purchasing : |
Credit
(30 days) |
GENERAL
INFORMATION
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Customers : |
End
Users |
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No. of Employees : |
11 |
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Bankers : |
v
UTI
Bank, College Campus Branch, Bharuch v
State
Bank of India, Panch Batti Branch, Bharuch |
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Facilities : |
State Bank of India – Cash Credit – Rs. 0.150 Millions |
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Banking Relations : |
Satisfactory
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
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Capital
Investment : |
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Owned : |
Rs.
0.500 Millions |
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Borrowed : |
-- |
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Total : |
Rs.
0.500 Millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
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Particulars |
|
31.03.2006 |
31.03.2005 |
|
Sales Turnover |
|
4.200 |
3.500 |
Expected
Sales 2006 – 2007 – Rs. 4.500 Millions
LOCAL AGENCY
FURTHER INFORMATION
Company
Name Changed on year 2000
Export –
Not started lobtained export Licence before 2 months
About Us
Narmada Industries
is a leading and highly
recognized manufacturer, exporter and importer of wide range of non magnetic stainless steel furniture, stainless steel utensils
and stainless steel railings. We make use of state-of-the-art
welding techniques and equipments that ensure that their products conform to
both domestic and global quality standards. They have acquired the potential to
design and manufacture products as per the specifications given by the clients.
In every stage of production, their main objective is to ensure total customer
satisfaction through prompt service and quick delivery of each order.
Infrastructure
They possess:
- State-of-the-art production house equipped with latest machineries and
equipments.
- A modern tool room, which is fully equipped to design and develop Stainless
Steel Furniture and Stainless Steel Railings of various shapes and sizes.
- A team of engineers, designers, craftsmen and qualified professionals, who
use their knowledge and expertise and contribute to their success in a
significant manner.
- A well developed R&D department, where the prevailing market trend is
analyzed and new features are introduced in the products accordingly.
Quality
- Each stage of processing, designing and production is closely monitored by a
team of quality control experts.
- The steel, accessories and other raw materials used are sourced from reliable
and authentic dealers.
- The finishing, strength and durability of the final products are checked in
an in-house testing laboratory, before they are sent for the packaging.
- Intense care is taken during the packaging of the products to protect them
from exposure to any kind of damage at the time of shipment.
Our Potential
They have inherited
state of the art manufacturing capabilities and a talented & creative group
of designers & experts who leave no chance for degrading of the quality of
the products. They have a team of very professional market experts who have
ample knowledge in analyzing the market strategies and implement them so as to
gain maximum support of the clients. Their wide distribution of network enable
us to provide cost effective & durable products to their clients on time.
CMT REPORT [Corruption, Money
laundering & Terrorism]
The
Public Notice information has been collected from various sources including but
not limited to: The Courts, India Prisons Service, Interpol, etc.
1] INFORMATION
ON DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court
Declaration :
No records exist to suggest that subject is or was the subject of any
formal or informal allegations, prosecutions or other official proceeding for
making any prohibited payments or other improper payments to government
officials for engaging in prohibited transactions or with designated parties.
3] Asset
Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record
on Financial Crime :
Charges or conviction registered
against subject: None
5] Records
on Violation of Anti-Corruption Laws :
Charges or investigation registered
against subject: None
6] Records
on Int’l Anti-Money Laundering Laws/Standards :
Charges or investigation registered
against subject: None
7] Criminal
Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation
with Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation
Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA
INFORM as part of its Due Diligence do provide comments on Corporate Governance
to identify management and governance. These factors often have been predictive
and in some cases have created vulnerabilities to credit deterioration.
Our
Governance Assessment focuses principally on the interactions between a
company’s management, its Board of Directors, Shareholders and other financial
stakeholders.
CONTRAVENTION
Subject
is not known to have contravened any existing local laws, regulations or
policies that prohibit, restrict or otherwise affect the terms and conditions
that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.46.19 |
|
UK
Pound |
1 |
Rs.86.51 |
|
Euro |
1 |
Rs.59.32 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
|
45 |
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%)
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 |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
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 |