MIRA INFORM REPORT

 

 

Report Date :

07.04.2007

 

IDENTIFICATION DETAILS

 

Name :

METROCHEM INDUSTRIES

 

 

Registered Office :

Jai Tower Ground Floor, Opp. Imran, Vapi – 396191, Gujarat

 

 

Country :

INDIA

 

 

Financials (as on) :

31.03.2007

 

 

Date of Incorporation :

1999

 

 

 

 

Legal Form :

Subject is a Proprietory Concern.

 

 

Line of Business :

Manufacturer and trader of industrial Housekeeping Materials, safety and General Consumables and Chemical.

 

 

 

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

USD 4000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is a small concern in its field. Proprietor of the concern remained non-cooperative during current investigation. Trade relations are fair. Payments are reported as slow but correct. Nothing adverse reported. The concern can be considered for small to mediocre business dealings at usual trade terms and conditions.

 

 

LOCATIONS

 

Registered Office :

Jai Tower Ground Floor, Opp. Imran, Vapi – 396191, Gujarat

Tel. No.:

91-260-6533757

Mobile No.:

91-9825139892 / 9825128892

Fax No.:

91-260-2410492

E-Mail :

Mitsumarketing92@yahoo.com

Website :

http://www.metrochem.tradeindia.com

Area :

2400 Sq. ft.

Location :

Owned

 

 

 

 

Factory 1 :

Laghu Udyog Co-op. Society, Bhilad, Dist- Valsad, Taluka – Umargaon, Gujarat

Area :

30000 Sq. ft.

Location :

Owned

 

 

 

 

SOLE PROPRIETOR

 

Name :

Mr. Hanit Belim

Designation :

Proprietor

Date of Birth/Age :

41 Years

Qualification :

Chemical Engineer

Experience :

15 Years

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer and trader of industrial Housekeeping Materials, safely and General Consumables and Chemical.

 

 

Products :

Ø       General Consumable Item

Ø       Chemicals

Ø       Safety Items

 

 

 

 

 

GENERAL INFORMATION

 

 

 

No. of Employees :

15

 

 

Bankers :

Not Divulged

 

 

 

Banking Relations :

Satisfactory

 

 

 

 

Associates :
  1. Mitsu Marketing

       Vapi

Line of Business  :

 Marketing of Chemicals

 

 

CAPITAL STRUCTURE

 

Capital Investment :

 

Owned :

Rs.1.000 million

Borrowed :

---

Total :

Rs.1.000 million

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

Particulars

 

31.03.2007

Estimated

 

 

Sales Turnover

10.000

 

 

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

 

Trade Reference :

 

Company Profile

Chemicals are undoubtedly the backbone of many manufacturing units such as engineering concerns, pharmaceuticals, breweries, etc.  Metrochem Industries is a noted manufacturer, exporter and trader of superlative industrial chemicals, housekeeping materials, safety & general consumable items such as lifting material,  lashing belt ratchet, lifting belts-sling, polyester sling,  PVC apron, cotton apron, nose mask, cotton mask, non woven mask,  acetone, butyl acetate, IPA, silica gel, caustic soda, etc. Committed strictly to its only objective of client satisfaction, the ISO 9001:2000 certified business entity is touching new heights of success. Concern are a sister concern of Mitsu Marketing, a noted name engaged in diverse business. Concern are professionally managed by highly experienced professionals at every level of the manufacturing process that facilitates the production of flawless products. The reliability and trust of our products act like a security code to enter in the much secured network of our competitors and gain a lion's share in our domain. 

Product Range

We, Metrochem Industries, offer a gamut of unparalleled Industrial Chemicals, Consumable Items, Chemicals and many other items to it’s prestigious clients. concern are a manufacturer, exporter and trader of the following products:


Metrochem Industries possesses outstanding infrastructural facilities at Sarigram, Gujarat. Concern are fully loaded with an arsenal of highly sophisticated machinery and an experienced team of technocrats to deliver incomparable quality products. It’s sound storage capabilities and wide distribution network facilitates the smooth delivery of goods.

 

 

                               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 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 judgment 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.43.15

UK Pound

1

Rs.85.22

Euro

1

Rs.57.63

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

5

--PROFITABILIRY

1~10

5

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

5

--RESERVES

1~10

5

--CREDIT LINES

1~10

5

--MARGINS

-5~5

--

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

NO

--LITIGATION

YES/NO

NO

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

NO

--AFFILIATION

YES/NO

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

TOTAL

 

45

 

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

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average/normal.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

NR

In view of the lack of information, we have no basis upon which to recommend credit dealings

No Rating

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions