MIRA
INFORM REPORT
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Report Date : |
11.11.2006 |
IDENTIFICATION
DETAILS
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Name : |
SILVERLINE
CHEMICALS |
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Registered Office : |
Shingla
Carpets Building, GT Road, Near Tehsil, Panipat-132103, Haryana. |
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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,
Trader, Exporter of Eromatic
Chemicals, Perfumery, Mint Poducts, Edible Oils, Spice oils, Essential Oils,
etc. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD
40000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually
Concern |
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Litigation : |
Clear |
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Comments : |
Subject
is a well established concern having satisfactory track. Proprietor of the
concern is reported as experienced, responsible and having satisfactory track
records. Trade relations are fair. Payments are usually correct and as per
commitments. The
concern can be considered normal for business dealing at usual trade terms
and conditions. |
LOCATIONS
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Registered Office / Factory |
Shingla
Carpets Building, GT Road, Near Tehsil, Panipat-132103, Haryana, India. |
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Tel. No.: |
91-180-2639894
/ 2638983 |
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Mobile No.: |
91-9354929389 |
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Fax No.: |
91-180-4008265 |
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E-Mail : |
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Website : |
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Area : |
3000
Sq mtrs |
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Location : |
Owned |
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SOLE PROPRIETOR
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Name : |
Mr.Raman
Kumar Shingla. |
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Designation : |
Proprietor |
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Date of Birth/Age : |
36 yrs |
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Qualification : |
Post
graduate |
BUSINESS DETAILS
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Line of Business : |
Manufacturer,
Trader, Exporter of Eromatic
Chemicals, Perfumery, Mint Products, Edible Oils, Spice Oils, Essential Oils,
etc. |
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Products : |
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Exports to : |
USA,
U.K, Europe, Middle East, Canada |
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Imports from : |
France,
Germany, China, Korea |
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Terms : |
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Selling : |
L/C,
Cash & Credit |
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Purchasing : |
Cash, Sights
Credit (22 days) |
GENERAL
INFORMATION
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Customers : |
Local
Customers & End User |
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No. of Employees : |
63 |
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Bankers : |
ICICI
Bank, Panipat HDFC
Bank, Panipat |
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Facilities : |
Credit
Limit : Rs.10.000 millions |
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Banking Relations : |
Satisfactory |
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Auditors : |
Naresh
Aggrawal & Associates Charter
Accountant |
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Address: |
Panipat |
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Sister Concern: |
Shingla
Carpets Limited |
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Address: |
Panipat |
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Line of Business: |
Manufacturer
of Wooollen Carpets |
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Sister Concern: |
Shingla
Hotels |
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Address: |
Panipat |
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Capital
Investment : |
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Owned : |
Rs.10.000
Millions |
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Borrowed : |
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Total : |
Rs.10.000
Millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
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Particulars |
31.03.2005 |
31.03.2004 |
31.03.2003 |
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Sales Turnover |
89.400 |
78.000 |
77.500 |
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Profit/Loss for the year |
2.750 |
2.675 |
2.645 |
LOCAL AGENCY
FURTHER INFORMATION
Trade
Referances:
1. Ranbaxy Laboratories Limited,
Goregoan, Mumbai.
2.
Cipla- Mumbai
As
Per Website Details:
They are leading manufacturer
exporters of Natural Menthol (USP/BP/JP/IP) (raw materialfor toothpaste,
chewing gums, candy, pharmaceuticals), spice oils aromatics chemicals, herbal
extract, 100% NATURAL essential oils, flavours & castor oil.
Silverline Chemicals” – an associate concern of “Shingla Carpets” having an excellent history of decades. SILVERLINE CHEMICALS, is part of the SHINGLA Group of Companies, a hundred percent privately owned Group. The company started its operation with the purpose of manufacturing and exporting menthol and its allied products under the dynamic leadership of Mr. Raman Shingla, Managing Director of the company.
IN short span, it emerged as a significant player in the International Market and established itself as a highly credible, reliable and path breaking company; Not because success has come easy but because they don’t think work is hard.
The company has more than lived up to its expectation and grown by leaps and bounds. And , today they have grown tremendously and are still growing, everyday.
Having the production capacity of 240mt/yearly, company is striving to increase it every year in order to meet their client’s requirements.
The reliability, flexibility, competitive pricing and prompt service have been the pillars of the company’s reputation and success.
The company has more than lived up to it’s expectations and grown by leaps and bounds.
And, today they have grown tremendously and are still growing, everyday
.
Their production and quality control is strictly according to GMP.our products are continuously under strict control of accuracy and high quality. Their quality control laboratories use the most up-to-date instruments(HPLC, GC, FTIR, and others.)
They have high investments in research and post-marketing studies. All their products are continually kept under strict and progressively developed to keep the latest international quality requirements.
SPANISH AND IN PORTUGUES:
Mr. Leandro Sousa
Taiwan Brasil Trading Limited, Brazil
Phone & Fax: (55) 21 2635-2781 / (55) 27 3299-7466
Mobile No: (55) 27 9309-9296
E-Mail: tbtcorp@terra.com.br
DUBAI, UNITED ARAB EMIRATES:
Mr. Piyush
Mobile: +971 50 2041720
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
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Indian Rupees |
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US
Dollar |
1 |
Rs.44.90 |
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UK
Pound |
1 |
Rs.85.91 |
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Euro |
1 |
Rs. 57.78. |
SCORE &
RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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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 |
YES |
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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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46 |
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
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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 |
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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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