MIRA
INFORM REPORT
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Report Date : |
18.08.2007 |
IDENTIFICATION DETAILS
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Name : |
GOHIL ENGINEERING WORKS |
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Registered Office : |
Unit No. 6, Singh Compound, Opposite Ajit Glass, S V Road, Jogeshwari (West),
Mumbai – 400 102, Maharashtra |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1984 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturers and Exporters of Plastic Machinery Roller, Heavy Duty
Rollers, Hard Chrome Rollers. |
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 : |
- |
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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. General financial position is satisfactory. Payments are
usually correct and as per commitments. The concern can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
Unit No. 6, Singh Compound, Opposite Ajit Glass, S V Road, Jogeshwari
(West), Mumbai – 400 102, Maharashtra, India |
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Tel. No.: |
91-22-26784563 |
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Mobile No.: |
91-9819473362 |
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Fax No.: |
91-22-26793742 |
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E-Mail : |
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Website : |
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Area : |
1000 Sq. fts. |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Ramesh H. Gohil |
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Designation : |
Proprietor |
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Date of Birth/Age : |
46 years |
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Qualification : |
Under Graduate |
KEY EXECUTIVES
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Name : |
Mr. Manish Gohil |
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Designation : |
Director / Key Personnel |
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Mobile No.: |
91-9819473362 |
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Name : |
Mr. Ashwin Gohil |
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Designation : |
Sales Executive |
BUSINESS DETAILS
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Line of Business : |
Manufacturers and Exporters of Plastic Machinery Roller, Heavy Duty
Rollers, Hard Chrome Rollers. |
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Products : |
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Exports : |
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Products : |
v
Plastic Machinery Rollers v
Hard Chrome Plated Rollers v
Matt Finish Roller v
Heavy Duty Rubber Rollers |
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Countries : |
Europe, |
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Terms : |
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Selling : |
Cash or Credit (90 days) |
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Purchasing : |
Cash or Credit (3 months – 6 months) |
PRODUCTION STATUS
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Particulars |
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Actual
Production |
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Plastic Processing Machinery |
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25 Rollers and any other parts |
GENERAL INFORMATION
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Customers : |
Corporates |
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No. of Employees : |
20 |
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Bankers : |
Union Bank of Oshiwara Branch, Mumbai, |
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Facilities : |
Cash Credit – Rs. 0.250 million |
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Banking
Relations : |
Satisfactory |
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Associates/Subsidiaries : |
T. R. Rollers Address: Jogeshwari, Mumbai, Line of Business:
Manufacturers and Exporters of Plastic Machinery Roller, Heavy Duty Rollers,
Hard Chrome Rollers. |
CAPITAL STRUCTURE
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Capital Investment : |
Not Available |
FINANCIAL DATA
[all figures are
in Rupees Millions]
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Particulars |
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31.03.2007 |
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Sales Turnover |
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8.500 |
Expected Sales (2007-08): Rs. 7.000 millions – Rs. 7.500 millions
LOCAL AGENCY FURTHER INFORMATION
Trade References
Luhia Star Lingers
Limited
Kolsite Machines
Fabrication Limited
J. P. Industries
Website details attached:
Subject guided by the principles of hard work,
dedication, sincerity and determination to excel, has emerged as one of the
largest and leading manufacturers of Plastic Processing Machinery parts like
Plastic Machinery Rollers, Hard Chrome Plated Rollers, Matt Finish Roller,
Heavy Duty Rubber Rollers etc.
They are in the business since 1984 and today subject has established its name in the field as a
manufacturer, exporter and supplier of high quality Plastic Processing
Machinery parts. Their mainstay is their strong infrastructure, skilled
workforce, state-of-the-art production unit and a team of R and D staff whose
sole aim is innovation.
Quality and Customer Satisfaction
They
truly believe that the customer reins supreme, that the customer is the King.
Their sole aim is to produce quality goods at reasonable prices, so as to make
sure that they are successful in establishing long-term association with their
clients. They also provide prompt and efficient after-sales service. All their
production activities and services are directed towards achieving 100% customer satisfaction.
Clientele
Owing
to their superior quality products and excellent after-sales services, they
have won the trust of their delighted clientele across the world. They have
been exporting to
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. 41.57 |
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1 |
Rs. 82.14 |
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Euro |
1 |
Rs. 55.74 |
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 |
YES |
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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 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. |
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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