MIRA
INFORM REPORT
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Report Date : |
18.08.2007 |
IDENTIFICATION DETAILS
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Name : |
KAUSHIK ORTHOPAEDIC CORPORATION |
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Registered Office : |
23/4, Chadda Bhawan, Shakti Nagar, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1989 |
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IEC No.: |
0502054913 |
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TIN No.: |
07960137975 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELK06675E |
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PAN No.: [Permanent
Account No.] |
AALPK3070H |
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Legal Form : |
Partnership concern with an unlimited liability of the Partners. |
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Line of Business : |
Manufacturers and Exporters of Orthopedic Implants and Instruments, Orthopedic Appliances and Equipment, Rehabilitation Aids, Medical Instruments and Surgical Instruments. |
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 16000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established concern having satisfactory track. Partners are reported as experienced, respectable and resourceful businessmen. Their trade relations are fair. Payments are correct and as per commitments. The concern can be considered good for normal business dealings at usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
23/4, Chadda Bhawan, Shakti Nagar, |
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Tel. No.: |
91-11-23846007 / 23844074 / 23840700 |
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Mobile No.: |
91-9811409488 |
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Fax No.: |
91-11-23840700 |
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E-Mail : |
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Website : |
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Area : |
1200 Sq. fts. |
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Location : |
Owned |
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Factory : |
Lane No. 6, Samaypur, Badli, Delhi-110042, |
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E-Mail : |
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Area : |
2500 sq. ft |
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Location : |
Owned |
PARTNERS
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Name : |
Mr. Shashi Kaushik |
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Designation : |
Partner and Chief Executive Director |
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Address : |
A-26, Puru Apartment,
Sector-13, Rohini, Delhi-110085, |
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Mobile No.: |
91-9811229748 |
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Date of Birth/Age : |
37 years |
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Qualification : |
Graduate |
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Experience : |
115 years |
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Name : |
Mr. Arun Kaushik |
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Designation : |
Director |
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Address : |
A-26, Puru Apartment,
Sector-13, Rohini, Delhi-110085, |
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Mobile No.: |
91-9811409488 |
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Date of Birth/Age : |
42 years |
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Qualification : |
Graduate |
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Experience : |
19 years |
BUSINESS DETAILS
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Line of Business : |
Manufacturers and Exporters of Orthopedic Implants and Instruments, Orthopedic Appliances and Equipment, Rehabilitation Aids, Medical Instruments and Surgical Instruments. |
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Products : |
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Brand Names : |
“Kaushik”. |
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Exports : |
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Products : |
v
Orthopaedic Implants v
Instruments |
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Countries : |
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Imports : |
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Products : |
v
Stainless Steel Rods v
Sheets |
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Countries : |
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Terms : |
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Selling : |
TT, Irrevocable LC terms |
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Purchasing : |
TT, Irrevocable LC terms |
GENERAL INFORMATION
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Customers : |
Wholesalers |
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No. of Employees : |
80 (Office: 20; Factory: 60) |
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Bankers : |
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Facilities : |
- |
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Banking
Relations : |
Satisfactory |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 4.000 millions |
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Borrowed : |
- |
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Total : |
Rs. 4.000 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
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Particulars |
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31.03.2007 |
31.03.2006 |
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Sales Turnover |
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27.500 |
20.000 |
Expected Sales (2007-08) : Around Rs. 30.000 millions
LOCAL AGENCY FURTHER INFORMATION
Website details attached:
Subject is engaged in the manufacture and export of high class
Orthopaedic implants and Orthopaedic instruments. For the last 30 years, they
have been supplying quality goods at competitive prices to various hospitals,
medical institutions etc.
Quality
At subject, they make every effort to produce products of the highest
quality as they are aware that being good is not good enough. They are in the
age of excellence where only excellent things sell. Stringent quality checks
are conducted to check the quality of the products. Their quality officers, who
carry out quality control exercise, ensure that products meet the international
standards of quality.
It is because of their exemplary service, quality goods and ability to supply
their customers more than what they expect, that they have a large number
clients in
The very year they embarked on the journey
to produce goods for the hospital industry; they equipped theirselves with the
technology that was modern at that time. However, they constantly update
theirselves with advanced technology to keep pace with time. Their in-house
production unit is equipped with sophisticated machines and they possess
excellent quality testing equipments
Product List
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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 |
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 |
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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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. |
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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