MIRA
INFORM REPORT
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Report Date : |
01.11.2006 |
IDENTIFICATION
DETAILS
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Name : |
SEJPAL
AND OTHERS |
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Registered Office : |
Building No. A, National Highway No. 8, Near Arihant, Opp. Highway
Industrial Estate, Sativali Village, Vasai (East), Thane – 401208 |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
1992 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
PNES10353A
/ MUMS17022F |
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PAN No.: [Permanent
Account No.] |
AABFS1836K |
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Legal Form : |
Partnership
concern with an unlimited liability of the partners. |
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Line of Business : |
Manufacturers
of Wooden Doors and Moulded Panel Doors |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
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Maximum Credit Limit : |
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Status : |
Small
concern |
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Payment Behaviour : |
Slow
by average 30 days |
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Litigation : |
Clear |
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Comments : |
Subject
is a small concern engaged in as manufacturer of moulded panel doors.
Partners are experienced businessmen. Their trade relations are fair. Profit
margin is under severe pressure. The concern’s payments are slow by over 30
days. It can
be considered for small to mediocre business dealings at usual trade terms
and conditions. |
LOCATIONS
|
Registered Office / Factory : |
Building
No. A, National Highway No. 8, Near Arihant, Opp. Highway Industrial Estate,
Sativali Village, Vasai (East), Thane – 401208, India |
|
Tel. No.: |
91-95250-2481259 / 60 |
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Mobile No.: |
91-9821089674 |
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Fax No.: |
91-95250-2481269 |
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E-Mail : |
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Website : |
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Area : |
18000
sq. ft. |
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Location : |
Leased
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PARTNERS
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Name : |
Mr.
Bharat Sejpal |
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Designation : |
Partner
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Date of Birth/Age : |
42
Years |
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Qualification : |
Graduate
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Experience : |
18
Years |
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Name : |
Mr.
Vivek Sejpal |
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Designation : |
Partner
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Name : |
Mr.
Shantibhai Sejpal |
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Designation : |
Partner
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BUSINESS DETAILS
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Line of Business : |
Manufacturers of Wooden Doors and Moulded Panel Doors |
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Brand Names : |
‘ANAND’ |
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Imports from : |
Raw
Materials from Chile |
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Terms : |
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Selling : |
Cash
or Credit [30-60 days] |
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Purchasing : |
L/C |
GENERAL
INFORMATION
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Customers : |
Wholesalers,
Retailers, End Users and Developers |
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No. of Employees : |
10 |
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Bankers : |
Union
Bank of India Vile
Parle, Mumbai |
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Facilities : |
Cash
credit facility of Rs. 1.700 Millions |
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Banking Relations : |
Unknown
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CAPITAL STRUCTURE
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Capital
Investment : |
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Owned : |
Rs.
2.000 Millions |
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Borrowed : |
Rs.
1.700 Millions |
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Total : |
Rs.
3.700 Millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
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Particulars |
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31.03.2006 |
31.03.2005 |
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Sales Turnover |
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25.000 |
20.000 |
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Expected sales March 2007 : Rs. 32.000 Millions
LOCAL AGENCY
FURTHER INFORMATION
Trade
Reference
Ř
Hiranandani
Construction, Mumbai
Ř
Trison
Builders, Mumbai
Ř
Sadguru
Builders , Mumbai
Ř
Musonite
International Corporation, USA
Sejpal and Others was established in 1980 to manufacture
quality Flush Doors. Today, the factory located at Vasai, Mumbai has grown from
Flush Doors and Block Boards manufacturing Company to manufacturing of high
quality Moulded Panel Doors. The Moulded Panel Doors are manufactured in
association with Masonite
International Corporation of USA, the No. 1 company in moulded door facings
worldwide.
The
brand ANAND,
manufactured by Sejpal and Others,
is synonymous with quality and service of highest degree. All the processes in
manufacturing doors ensure that the end product is of top quality and gives
value for money to the users. All this achieved with the use of best of the
machines and raw materials available along with our expertise to manufacture
doors for the last 20 years.
Sejpal and Others uses Hot Pressing Technique. All the timber
used for making doors is preservative impregnated with non-leachable chemicals
to make a Termite and Borer proof doors. Timber is also seasoned to give
dimensional stability and long life to the doors. The phenol formaldehyde
synthetic resin used for bonding makes the doors survive the most severe
conditions of use. All this process is carried out as per IS standards.
ANAND doors manufactured by Sejpal
and Others are just the right choice for all needs that a door
is supposed to meet.
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 records 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.44.93 |
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UK
Pound |
1 |
Rs.85.71 |
|
Euro |
1 |
Rs.57.34 |
SCORE &
RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
4 |
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OPERATING SCALE |
1~10 |
4 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
4 |
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--RESERVES |
1~10 |
4 |
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--CREDIT LINES |
1~10 |
4 |
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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 |
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37 |
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 |
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>86 |
Aaa |
Possesses an extremely sound financial
base with the strongest capability for timely payment of interest and
principal sums |
Unlimited |
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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 |
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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 |
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26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |
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NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
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