MIRA
INFORM REPORT
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Report Date : |
25.11.2006 |
IDENTIFICATION
DETAILS
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Name : |
WAVERS
INDIA |
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Registered Office : |
Shop
No. 3329, Peepal Mahadev, Hauz Qazi, New Delhi – 110006, India. |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
1987 |
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IEC No.: |
0506042065
dated September 15, 2006 |
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PAN No.: [Permanent
Account No.] |
AADPJ4443P |
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Legal Form : |
Partnership
concern with an Unlimited Liability of the Partners. |
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Line of Business : |
Distributor
and Supplier of Bathroom Fittings & Accessories |
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
5,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually
Correct |
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Litigation : |
Clear |
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Comments : |
Subject
is an established concern having satisfactory track. 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 : |
Shop
No. 3329, Peepal Mahadev,Hauz Qazi, New Delhi – 110006, India. |
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Tel. No.: |
91-11-23281038,
22440525 |
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Mobile No.: |
91-9899850735 |
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E-Mail : |
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Website : |
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Area : |
1,000
sq.ft. Approx |
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Location : |
Owned |
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SOLE PROPRIETOR
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Name : |
Mr.
Pradeep Kumar Jain S/o Mr. Chaman Lal Jain |
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Designation : |
Partners |
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Address : |
F
–204, Second Floor, Saraswati Apartment, Plot No. 97, I P Extension, Patpar,
Ganj, Delhi 110092, Phone: 91-11-22234625 |
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Date of Birth/Age : |
35
years |
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Qualification : |
Graduate |
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Experience : |
10
years |
BUSINESS DETAILS
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Line of Business : |
Distributor
and Supplier of Bathroom Fittings & Accessories |
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Products : |
Ø
Basin
Faucets Ø
Sink
Faucets Ø
Single
Levr Taps Ø
Bath
Mixer Taps Ø
Three
Hole Mixer Ø
Ideal
Pillar Cock Ø
Bib
Cock Ø
Angle
Stop Cock Ø
Concealed
Stop Cock Ø
Pillar
Cock Ø
Bib
Cock Ø
Angle
Stop Cock Ø
Concealed
Stop Cock Ø
Shower
Faucets Ø
Bathroom
Faucets Ø
Long
Body Faucets Ø
Long
Nose Faucets Ø
Central
Hole Telephonic Mixture Ø
Sink
Mixture Ø
Swan
Neck Mixture Ø
Sink
Cock & Showers Ø
Pillar
Cock Ø
Concealed
Stop Cock Ø
Long
Body Bib Cock |
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Terms : |
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Selling : |
On
Cash Against Delivery & Credit: 15 to 25 days |
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Purchasing : |
On
Credit: 15 to 30 days |
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Customers : |
Wholesalers |
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No. of Employees : |
7 |
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CAPITAL STRUCTURE
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Capital
Investment : |
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Owned : |
Rs.
0.700 Millions |
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Borrowed : |
--- |
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Total : |
Rs.
0.700 Millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
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Particulars |
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31.03.2005 |
31.03.2006 |
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Sales Turnover |
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2.500 |
3.500 |
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Profit/Loss for the year |
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Profit/(Loss)
Before Tax |
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0.075 |
0.100 |
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Net
worth Variation |
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0.625 |
0.700 |
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Profit/(Loss)
After Tax |
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0.060 |
0.080 |
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Profit/(Loss)
Before Tax |
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KEY
RATIOS
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PARTICULARS |
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31.03.2005 |
31.03.2006 |
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PAT / Total Income |
(%) |
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2.40 |
2.29 |
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Net
Profit Margin (PBT/Sales) |
(%) |
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3.00 |
2.86 |
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Return
on Investment (ROI) (PBT/Networth) |
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9.68 |
11.43 |
LOCAL AGENCY
FURTHER INFORMATION
Business
dealing is permissible. The subject is a Distributor and Supplier of Bathroom
fitting. The subject Company was established in 1987 and Mr Pardeep Kumar Jain
(Age: 35 years) is looking after the business activities.
The
subject is Presently supplying in the domestic market to wholesaler on Cash
Against Delivery & Credit 15 to 25 days and exploring the possibilities of
exporting their products. The Inquired Address is the subject’s office cum show
room, which is situated at commercial location.
With
strong market presence and earnest commitment to influence the industry
verticals through impeccable quality, competitive prices and customer
satisfaction, they “Wavers India” , have established their selves as the most
acknowledged manufacturer and supplier of superlative quality chromium platted
Bathroom fittings and Accessories such as : Pillar Cock, Bib Cock,Angle Stop
Cock, Conccealed Stop Cock, Shower, Long Body etc. their Products are
specifically designed by the customers. They incorporate the cost
downproduction techniques and stringent quality control regime to improve the
performance of their products and also make them available at more competitive
prices. They constantly invest in the technological advancement to remain
abreast of the changing market trends. Their uncompromising endeavour towards
quality and perfection has helped us to achieve maximum degree of customer
satisfaction resulting in worldwide customer base.
Quality
is of paramount importance to us. It is their quality that has made us the most
preferred manufacturers and exporters if chromium platted bathroom fittings and
Accessories not only in India but also in worldwide markets. Their
comprehensive quality control procedure of international standards help us to
remain far ahead of Their Competitors. Their team of quality control inspectors
maintain strict Vigilance at each and every stage of the manufacturing process
to guarantee the customers of Dependable and durable products. Before being
dispatched to the customers, Their products go through several physical tests
to enhance their performance.
Their
Infrastructure
Their sophisticated and sound infrastructure
is empowered with excellent manufacturing capabilities, Cutting edge
technology, state of the art machineries and capacious warehouse. With
voluminous industrial experience, their team of engineers and technocrats work
utmost sincerity to manufacture durable and reliable products. Their modern and
most efficient transport facilities ensure the customers of Smooth and punctual
delivery of products.
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
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Currency |
Unit
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Indian Rupees |
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US
Dollar |
1 |
Rs.44.87 |
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UK
Pound |
1 |
Rs.85.99 |
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Euro |
1 |
Rs.58.15 |
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 |
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 |
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45 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be Sextended. 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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