MIRA
INFORM REPORT
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Report Date : |
31.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
SOMANY IMPEX |
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Registered Office : |
Khol House, Circular Road, Rewari -123 401, Haryana |
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Country : |
INDIA |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1994 |
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Legal Form : |
Subject is a Sole Proprietory Concern |
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Line of Business : |
Manufacturer, Trader, Processor and Supplier of Slate Sandstone
Limestone, Quartzite, Marble, Granite. |
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 120000 |
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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 well-established and reputed concern having satisfactory
track. Proprietor is reported as experienced and respectable businessman. His
trade relation are reported as fair. Business is active payments are usually
correct and as per commitments. The concern can be considered normal for
business dealing at usual trade terms & conditions. |
LOCATIONS
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Registered Office : |
Khol House, Circular Road, Rewari -123 401, Haryana |
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Tel. No.: |
91-1274-225385 |
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Mobile No.: |
91-9812028488 |
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Fax No.: |
91-1274-224279 |
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E-Mail : |
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Website : |
http://www.somanyimpex.com |
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Area : |
7 acres Sq. ft. |
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Location : |
Owned |
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SOLE PROPRIETOR
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Name : |
Mr. Aakash Somany |
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Designation : |
Proprietor |
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Address : |
Rewari |
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Date of Birth/Age : |
27 Years |
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Qualification : |
Under Graduate |
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Experience : |
5 Years |
KEY EXECUTIVES
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Name : |
Mr.Sunil Chowdhary |
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Mobile : |
91-9825112695 |
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Name : |
Mr. Amar Somany |
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Mobile : |
91-9812345670 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Trader, Processor and Supplier of Slate Sandstone
Limestone, Quartzite, Marble, Granite. |
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Products : |
Lime Stone ·
Cudappah Black ·
Kota Blue ·
Kyra Pink ·
Kota Honey ·
Kota Brown ·
Kyra Grey Quartzite
Slate
Sandstone
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Exports : |
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Products : |
Quartize Stone and Slats |
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Countries : |
USA, Canada, Europe, Germany, Belgium, U.K. |
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Imports : |
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Products : |
Machinery |
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Countries : |
Korea, China |
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Terms : |
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Selling : |
L/C, Cash, Credit 30 Days |
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Purchasing : |
L/C, Cash, Credit 30 Days |
GENERAL
INFORMATION
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Customers : |
Retailers |
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No. of Employees : |
50 |
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Bankers : |
State Bank of India Rewari |
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Facilities : |
Credit Limit Rs.3.000 Millions To 4.000 Millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
V.K. Jain And Company Chartered Accountant |
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Address : |
Rewari |
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Associates : |
Cross Land Jaipur |
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Line of Business : |
Manufacturer, Trader, Processor and Supplier of Slate Sandstone Limestone,
Quartzite, Marble, Granite. |
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MBS System Gurgaon |
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Line of Business |
Computer Hardware |
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Somany Marbles Rewari |
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CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.30.000 Millions |
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Borrowed : |
--- |
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Total : |
Rs.30.000 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
31.03.2006-7 |
31.03.2005 |
31.03.2004 |
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Sales Turnover |
75.000 |
72.000 |
70.000 |
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Export Value |
100% |
100% |
100% |
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LOCAL AGENCY
FURTHER INFORMATION
Trade Reference :
- Local
Customer
- M.S.
International USA
- Sonatstongmbh
Germany
Company Profile :
Somany Impex was established in
the year 1994 and is one of the most trustworthy names with an excellent track
record of supplying premium quality slate, sandstone, limestone & quartzite
from India to the domestic and international markets. The Company have fully
mechanized and systematically developed quarries worked by highly proficient
and qualified people to produce best quality stone products. The key to their
success has been sincerity, honesty, practice, innovation and excellence. The
Company offer an exquisite & exclusive range of slate, sandstone, limestone
and quartzite to cater to the specific requirements of all their customers.
It’s products are approved and accepted
in all markets as per international specifications and standards.
The Company have the most up to date state-of-the-art processing plants,
supported by a professional marketing network. Its units are equipped with the
well maintained machines, tools and equipments that lead to easy execution of
orders. It’s quarries use the latest equipments for systematically extracting
superior quality raw materials. The company also employs skilled craftsmen and
designers who create exclusive range of products with innovative ideas.
Quality
Superior quality products along with prompt & efficient services to their
esteemed customers are topmost on it’s agenda. The company stand on the edifice
of quality and innovation by ensuring that all their products are durable and
well accepted by the market. It’s quality has been the main reason for it’s
success over the years. With an experience spanning over generations, the
company understand the requirement of the industry and adapt to the changing
situations. It’s comprehensive quality control system ensures prompt delivery
of superior quality products. Their aim is to build a long standing business
association with it’s buyers beyond just delivering goods and providing
efficient services.
Somany Impex is managed by the Somany Brother’s Aakash Somay and Amar
Somay who are experonced in this trade since a decade. Their father Ashok Somany
is the guiding factor for the project and started the stone business with
quarrying operations of kund multicolor slate in 1984. the Kund Multicolor
quarry operated by Ashok Somany is the largest quarrying operation of its kind
in the private sector in India.
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. |
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UK Pound |
1 |
Rs. |
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Euro |
1 |
Rs. |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
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PAID-UP CAPITAL |
1~10 |
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OPERATING SCALE |
1~10 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
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--PROFITABILIRY |
1~10 |
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--LIQUIDITY |
1~10 |
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--LEVERAGE |
1~10 |
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--RESERVES |
1~10 |
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--CREDIT LINES |
1~10 |
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--MARGINS |
-5~5 |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
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--LITIGATION |
YES/NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
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--EXPORT ACTIVITIES |
YES/NO |
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--AFFILIATION |
YES/NO |
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--LISTED |
YES/NO |
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--OTHER MERIT FACTORS |
YES/NO |
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TOTAL |
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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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