MIRA
INFORM REPORT
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Report Date : |
28.11.2006 |
IDENTIFICATION
DETAILS
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Name : |
TIRUPATI
POLYCHEM |
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Registered Office : |
113,
Park Street, 6th Floor, Block B, Poddar Point, Kolkata-700016 |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
1995 |
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IEC No.: |
0202008649 |
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PAN No.: [Permanent
Account No.] |
AACHM3143G |
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Legal Form : |
Sole
Proprietory Concern |
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Line of Business : |
Manufacturer,
Trader, Dealer and Importer of Paraffin Wax, Microcrystalline Wax, Compound
Wax 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
25000 |
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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 a well established concern having satisfactory track. Trade relations are
fair. Payments are usually correct and as per commitments. General Financial
position is satisfactory. The
concern can be considered good for normal business dealings at usual trade
terms and conditions. |
LOCATIONS
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Registered/ Head Office : |
113,
Park Street, 6th Floor, Block B, Poddar Point, Kolkata-700016,
India |
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Tel. No.: |
91-33-3254465 |
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Fax No.: |
91-33-28321095 |
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E-Mail : |
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Area : |
480
Sq.ft. |
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Location : |
Owned |
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Factory
1/ Warehouse : |
Madhyamgram,
District North 24 Parganas |
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Tel.
No.: |
91-33-32943702 |
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Area : |
95000
Sq.dt. |
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Location : |
Owned |
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Branches
: |
Flat
Crown-1B, Duke Garden, VIP Road, Kolkata-700059 |
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Tel.
No.: |
91-33-25005236 |
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Area : |
1500
Sq.ft. |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr.
Mahabir Prasad Agarwal |
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Designation : |
Proprietor |
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Address : |
Block
II, 5-E, Space Town Complex, VIP Road, Kolkata-700052, India |
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Date of Birth/Age : |
46
years |
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Qualification : |
B.Com. |
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Experience : |
26
years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer,
Trader, Dealer and Importer of Paraffin Wax, Microcrystalline Wax, Compound
Wax etc. |
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Products : |
Wax
and Wax Products |
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Agencies Held : |
Indian
Oil Corporation Limited Line
of Business: Distributor for West Bengal State |
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Imports from : |
China
and Iran |
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Terms : |
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Selling : |
Cash
and Credit |
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Purchasing : |
Cash
and Credit |
GENERAL
INFORMATION
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Suppliers : |
Ø
Pars
Marmar, South Africa, Iran Ø
Dalian,
Singapore through Swiss Singapore Overseas Enterprises Private Limited Ø
Sarda
Agro Oils Limited Ø
Silvassa
Polyplast India Private Limited |
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Customers : |
Manufacturers,
Wholesalers, Retailers and End Users Ø
Bharat
Explosives Limited Ø
Calcutta
Wax Traders and Company Private Limited Ø
Gulf
Oil Corporation Limited Ø
Jute-O-tech
Private Limited Ø
Lyndon
Chemical Industries Private Limited Ø
PCI
Chemicals Private Limited Ø
Ross
Champack Private Limited Ø
Tull
Tubes Private Limited Ø
TVS
Shrichakra Limited |
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No. of Employees : |
23 |
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Bankers : |
HDFC
Bank Limited, Raghunathpur, Kolkata-700059 Standard
Chartered Bank, Chowringhee, Kolkata-700016 |
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Banking Relations : |
Satisfactory |
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Auditors : |
K. N.
Jain & Company Chartered
Accountants 71,
Biplabi Rash Bihari Basu Road, 5th Floor, Room D-501,
Kolkata-700001 |
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Associates/Subsidiaries : |
Premier
Forwarding Agency Private Limited Premier
Freight Carriers Private Limited Tirupati
Polychem Private Limited Trans
Asia Roadways Incorporate |
CAPITAL STRUCTURE
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Capital
Investment : |
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Owned : |
Rs.6.340
millions |
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Borrowed : |
0.000 |
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Total : |
Rs.6.340
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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48.370 |
46.361 |
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Profit/Loss for the year |
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0.297 |
0.205 |
LOCAL AGENCY
FURTHER INFORMATION
Trade
References:
Ø
Chowdhury
Udyog, Kolkata
Concerned Person: Mr. Pawan Chowdhury
Mobile No.: 91-9830093815
Ø
Gulf
Oil Corporation Limited, Kolkata
Concerned Person: Mr. R. Shaktidharan
Mobile No.: 91-9830990134
Ø
Indian
Explosive Limited, Kolkata
Concerned Person: Swapan Howladar
Mobile No.: 91-9831000240
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.44.74 |
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UK
Pound |
1 |
Rs.86.68 |
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Euro |
1 |
Rs.58.71 |
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 |
6 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
6 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
6 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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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 |
YES |
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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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54 |
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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