MIRA
INFORM REPORT
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Report Date : |
08.08.2007 |
IDENTIFICATION DETAILS
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Name : |
ACCURA SHELVING SYSTEMS PRIVATE LIMITED |
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Formerly Known As : |
ACCURA ENGINEERS PRIVATE LIMITED |
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Registered Office : |
4 / AH -1, Cama Estate, Opposite Kusum Masala, Goregaon (East), Mumbai
400 063, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
24.01.2000 |
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Com. Reg. No.: |
123793 |
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CIN No.: [Company
Identification No.] |
U29100MH2000PTC123793 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMA21210A |
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PAN No.: [Permanent
Account No.] |
AACCA7108A |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer, Dealer, Exporter and Importer of Shelving Systems of
Super Market / Hyper Market. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 416 |
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Status : |
Small Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is small company and continuous efforts to contact the
management failed. Hence, this report is based on an registry. Management remained non-co operative during current investigation. No payment record available. The company can be considered for small
to mediocre business dealings an secured trade terms and conditions. |
LOCATIONS
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Registered Office : |
4 / AH -1, Cama Estate, Opposite Kusum Masala, Goregaon (East), Mumbai
400 063, |
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E-Mail : |
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Area : |
1000 sq. fts. |
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Location : |
Owned |
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Corporate Office : |
12-19, Mahavir Industrial Estate, |
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E-Mail : |
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Factory 1 : |
Naigoan |
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Area : |
30000 sq. fts. |
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Location : |
Rented |
DIRECTORS
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Name : |
Mr. Rizwan Ali |
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Designation : |
Director |
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Date of Birth/Age : |
32 Years |
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Qualification : |
Graduate |
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Experience : |
7 Years |
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Name : |
Mr. D G Parmar |
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Designation : |
Director |
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Date of Birth/Age : |
November 1962 |
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Qualification : |
Undergraduate |
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Experience : |
15 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Dealer, Exporter and Importer of Shelving Systems of Super
Market / Hyper Market. |
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Products : |
Ø Retail Display Systems Ø Super Market Shelving Systems Ø Racks Ø Cd/Cassette Display Racks Ø Vegetable Display Racks Ø Electronic Showroom Display Racks Ø Shopping Trolleys/ Blackents/ Bins Ø Billing/ Checkout/ Cassh Counters Ø Modular Counters/ Showcases Ø Oneway Entry/ Exit Gates Ø Garments Display Systems Ø Slatwall Systems/ Grid Systems Ø Departmental Stores Display Systems Ø
Corporate Exhibits & Kiosks. |
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Exports : |
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Products : |
Ø Retail Display Systems Ø Super Market Shelving Systems Ø Racks Ø Cd/Cassette Display Racks Ø Vegetable Display Racks Ø Electronic Showroom Display Racks Ø Shopping Trolleys/ Blackents/ Bins Ø Billing/ Checkout/ Cassh Counters Ø Modular Counters/ Showcases Ø Oneway Entry/ Exit Gates Ø Garments Display Systems Ø Slatwall Systems/ Grid Systems Ø Departmental Stores Display Systems Ø Corporate Exhibits & Kiosks. |
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Countries : |
Europe, |
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Imports : |
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Products : |
Raw Material |
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Countries : |
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Terms : |
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Selling : |
L/C |
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Purchasing : |
L/C / Cash / Credit (30 – 60 days) |
GENERAL INFORMATION
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Customers : |
End Users |
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No. of Employees : |
100 |
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Bankers : |
Ø
ICICI, Goregoan East Branch Ø
Bank of |
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Banking
Relations : |
Unknown |
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Auditors : |
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Name : |
Hingora and Company Chartered Accountants |
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Address : |
Jogeshwari West, Mumbai, |
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Tel. No.: |
91-22-26799425 |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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50000 |
Equity shares |
Rs. 10/- each |
Rs. 0.500 million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity shares |
Rs. 10/-
each |
Rs. 0.100
million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.100 |
0.100 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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0.004 |
0.000 |
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4] (Accumulated Losses) |
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0.000 |
(0.491) |
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NETWORTH |
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0.104 |
(0.391) |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
0.059 |
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2] Unsecured Loans |
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0.230 |
0.560 |
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TOTAL BORROWING |
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0.230 |
0.619 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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0.334 |
0.228 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.561 |
0.501 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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0.000 |
0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.147 |
0.000 |
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Sundry Debtors |
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5.402 |
1.541 |
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Cash & Bank Balances |
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1.143 |
0.340 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
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2.018 |
0.234 |
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Total
Current Assets |
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8.710 |
2.115 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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8.315 |
2.014 |
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Provisions |
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0.622 |
0.374 |
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Total
Current Liabilities |
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8.937 |
2.388 |
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Net Current Assets |
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(0.227) |
(0.273) |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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0.334 |
0.228 |
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PROFIT & LOSS
ACCOUNT
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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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18.706 |
10.263 |
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Total Income |
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18.706 |
10.263 |
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Profit/(Loss) Before Tax |
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0.682 |
0.229 |
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Provision for Taxation |
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0.000 |
0.000 |
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Profit/(Loss) After Tax |
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0.682 |
0.229 |
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Expenditures : |
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Interest |
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0.002 |
0.011 |
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Depreciation & Amortization |
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0.124 |
0.149 |
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Other Expenditure |
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17.898 |
9.874 |
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Total Expenditure |
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18.024 |
10.034 |
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KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
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3.64
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2.23 |
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Net Profit Margin (PBT/Sales) |
(%) |
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3.64
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2.23 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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7.35
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8.75 |
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Return on Investment (ROI) (PBT/Networth) |
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6.55
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(0.58) |
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Debt Equity Ratio (Total Liability/Networth) |
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88.14
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(7.69) |
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Current Ratio (Current Asset/Current Liability) |
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0.97
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0.88 |
LOCAL AGENCY FURTHER INFORMATION
Note:
Named as Accura Engineers Private Limited since 2000 but name changed to
Accura Shelving Systems Private Limited since April 2007
Trade References:
Ø
Aditya Birla Retail Limited
Ø
Reliance Retail Limited
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Ø
Godrej Agrovat Limited
As per website details:
About them
Subject is a company dedicated to making state-of-the-art Organised Retail Display
System. They manufacture Shelves, Racks, Shopping Trolleys, Shopping basket,
Point of sale Displays and much more for a host of applications in
Supermarkets, Grocery stores, Pharmacies, Food Counters, Book & Music
Shops, Garment Stores, Appliance Showrooms, Automobile Spares, Franchisee
Chains, Corporate Exhibits, Mobile Displays, etc.
Changing Scenario
Thanks to the emergence of customer as king,
Strength
Their products are more functional, aesthetic and space saving displays, especially shopping trolleys and shopping basket. The elegance of an subject’s Display System invites the customer to have a close look at the products displayed. Subject awakens the mind. Subject offers space, comfort and convenience. Subject generates the buying instinct. Increased shelf life, lower maintenance costs and impeccable inventory control are the added advantages.
Subject’s Display Systems are computer designed after meticulous research,
based on the current trends in consumerism. While styling is an important factor,
quality is the company's prime concern. In order to maintain immaculate
standards of quality, all products are made in house. 100%! another reason why
the shopping trolleys and shopping baskets are cost effective and life long!
Subject’s Display Systems are perhaps, the largest range any Indian Company can
offer. And since the products can be custom made to suit every application,
they offer total flexibility-in size, design and color. Any change in the store
layout can be carried out overnight and without any professional help. While
religiously adhering to delivery commitments, the company also has a team of
professionals, having expertise in providing complete solutions.
Turnkey Projects
Right from planning and construction to renovation, lighting and
interiors-every service can be provided from under a single roof. The greatest
one, being able to earn the trust and confidence of its invaluable customers.
Advantages
Their Display Systems are used by a wide range of retailers because
they are:
Elegant and Ambient
Comfortable and Convenient
Robust Construction: All weather-proof & pest proof,
stain and scratch-resistant
Provision for Translites offer a good source of extra income
Freedom from time-consuming and expensive carpentry
High quality powder-coated material ensures long life
Smart colors to suit different interior
Computer aided designs &
Cost-Effective.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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.40.37 |
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1 |
Rs.82.97 |
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Euro |
1 |
Rs.55.73 |
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 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
3 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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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 |
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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29 |
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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