MIRA
INFORM REPORT
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Report Date : |
23.08.2007 |
IDENTIFICATION DETAILS
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Name : |
NIHON ISPAT PRIVATE LIMITED |
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Registered Office : |
328-331, Marshall House, 33/1, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
10.08.1988 |
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Com. Reg. No.: |
21-44964 |
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CIN No.: [Company
Identification No.] |
U27320WB1988PTC044964 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CALN01025D |
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PAN No.: [Permanent
Account No.] |
AAACN8379G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Indentors of Non-Ferrous Metals and Metal Scraps like Copper, Zinc, Nickel, Tin, Lead and Aluminium. |
RATING & COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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Maximum Credit Limit : |
-- |
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Status : |
Small/ Unknown |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
The company is poor in corporate governance and no latest financials
could be available. It can be considered for any business dealings on safe and secured
trade terms and conditions. Payment records are unknown. |
LOCATIONS
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Registered Office : |
328-331, Marshall House, 33/1, |
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Mobile No.: |
91-9831004410 |
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Website : |
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Area : |
1400 sq. fts. |
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Location: |
Owned |
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Head Office : |
326-331, Marshall House, 33/1, |
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Tel. No.: |
91-33-22209092 |
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Fax No.: |
91-33-22204216 |
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E-Mail : |
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Corporate Office : |
86 A, Mittal Court, A Wing, 224, Nariman Point, Mumbai-400021, |
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Tel. No.: |
91-22-22814378/ 22885546/ 22814379 |
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Fax No.: |
91-22-22881369/ 22843688 |
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Mobile No.: |
9821082864 |
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E-Mail : |
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Area : |
600 Sq. fts. |
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Location: |
Owned |
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Branches : |
Located at :- v
86 A, Mittal Court, A-Wing, 224, Nariman
Point, Mumbai 400 021, Tel. 91-22-22814378/79 / 22885546 Fax. 91-22-22881369/22843688 v
16, Telefax No.: 91-11-23715179 Area: 1000 Sq. fts Location: Owned |
DIRECTORS
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Name : |
Mr. Purushottam Parolia |
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Designation : |
Managing Director |
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Address : |
K-52, |
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Date of Birth/Age : |
49 years |
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Qualification : |
B-Tech |
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Experience : |
26 years |
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Name : |
Mrs. Purnima Parolia |
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Designation : |
Director |
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Address : |
K-52, |
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Date of Birth/Age : |
46 years |
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Qualification : |
M.A. |
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Experience : |
20 Years |
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Name : |
Mr. Gautam Parolia |
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Designation : |
Director |
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Address : |
K-52, |
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Date of Birth/Age : |
23 years |
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Qualification : |
B.Com (MBA) |
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Experience : |
2 years |
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Name : |
Mr. Rajesh Prasad |
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Designation : |
Executive Director |
KEY EXECUTIVES
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Name : |
Mr. Sidharth Parolia |
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Designation : |
Marketing Executive |
BUSINESS DETAILS
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Line of Business : |
Indentors of Non-Ferrous Metals and Metal Scraps like Copper, Zinc, Nickel, Tin, Lead and Aluminium. |
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Products : |
Its’ product range includes :- v Copper v Zinc v Nickel v Tin v Lead v Aluminium v Copper Scraps v Brass Scraps v Zinc Scraps v Nickel Silver Scraps v Lead Scraps v Aluminium Scraps v Titanium Scraps v Stainless Steel Scraps v Copper Cable Scraps v Mixed Metal Scraps |
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Exports : |
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Products : |
v
Brass v
Zinc v
Lead Scraps v
Stainless Steel Scraps |
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Countries : |
Europe, |
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Imports : |
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Products : |
v
Ferrous Metal v
Non-Ferrous Metals v
Stainless Steel v
Coils v
Scraps |
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Countries : |
All over the World |
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Terms : |
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Selling : |
L/C or CAD terms |
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Purchasing : |
L/C or CAD terms |
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GENERAL INFORMATION
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Customers : |
Wholesalers and end users. |
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No. of Employees : |
08 |
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Bankers : |
IDBI Bank, Nariman Point Branch, Mumbai |
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Banking
Relations : |
Unknown |
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Auditors : |
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Name : |
Chaturvedi Sohan & Co Chartered Accountants |
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Address : |
A-320,'Tulsiyani' Chamber, 212, Nariman Point, Mumbai |
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Tel. No.: |
91-22-22814876/74/22885508 |
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Fax No.: |
91-22-22814872 |
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Associates/Subsidiaries : |
Parolia Impex Private Limited 33/1, --Indenting |
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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10400 |
Equity Shares |
Rs.10/- each |
Rs.0.104
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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0.104 |
0.104 |
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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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4.096 |
1.898 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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4.200 |
2.002 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
0.000 |
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2] Unsecured Loans |
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3.798 |
2.384 |
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TOTAL BORROWING |
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3.798 |
2.384 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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7.998 |
4.386 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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1.372 |
1.116 |
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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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0.000 |
0.000 |
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Sundry Debtors |
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0.000 |
0.000 |
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Cash & Bank Balances |
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2.342 |
0.134 |
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Other Current Assets |
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4.206 |
4.443 |
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Loans & Advances |
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2.162 |
0.979 |
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Total
Current Assets |
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8.710 |
5.556 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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0.969 |
2.286 |
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Provisions |
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1.115 |
0.000 |
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Total
Current Liabilities |
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2.084 |
2.286 |
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Net Current Assets |
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6.626 |
3.270 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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7.998 |
4.386 |
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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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6.814 |
7.650 |
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Other Income |
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0.067 |
0.256 |
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Total Income |
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38.111 |
39.136 |
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Profit/(Loss) Before Tax |
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2.198 |
1.656 |
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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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2.198 |
1.656 |
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Expenditures : |
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Administrative Expenses |
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4.093 |
5.519 |
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Interest |
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0.274 |
0.406 |
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Depreciation & Amortization |
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0.316 |
0.325 |
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Other Expenditure |
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31.230 |
31.230 |
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Total Expenditure |
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35.913 |
37.480 |
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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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5.77 |
4.23 |
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Net Profit Margin (PBT/Sales) |
(%) |
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32.26 |
21.65 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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21.81 |
24.82 |
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Return on Investment (ROI) (PBT/Networth) |
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0.52 |
0.83 |
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Debt Equity Ratio (Total Liability/Networth) |
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1.40 |
2.33 |
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Current Ratio (Current Asset/Current Liability) |
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4.18 |
2.43 |
LOCAL AGENCY FURTHER INFORMATION
BUSINESS
Subject is engaged in indenting of all Non-Ferrous Scraps like Brass Scraps, Copper Scrap, Zinc Scraps, Aluminium Scraps, Stainless Steel Scrap, Lead Scraps and Primary Metals like Copper Wire Bars/Rods, Zinc Ingots, Al-Ingots, Stainless Steel Coils and Sheets.
The company is in trade terms with:-
v Bureau of International Recycling (BIR)
Avenue Franklin Roosevelt 24
1050
Tel. 00 32 2 6275770
Fax. 00 32 2 6275773
E-mail. bir.sec@skynet.be
v Bombay Metal Exchange Limited
88/90, 1st Floor,
Mumbai – 400 004,
Tel. 91-22-22421984/22426332
Fax. 91-22-22422640
v
38/40, 8 A,
Mumbai – 400 002,
Tel. 91-22-23828853
Fax. 91-22-23889603
E-mail. bomnonferrousassn@vsnl.net
v
Park Mansions
2nd Floor, Flat No. 9,
57-A,
Kolkata – 700 016,
Tel. 91-33-22299591/22289608
Fax. 91-33-22294947
v
1325,
Tel No.: +877 367 4774 2020260909
Website: www.isri.org
v
The Council of EU Chambers of Commerce in
3rd Floor, Y B Chavan Centre Gen. J. Bhosale Marg, Mumbai – 400 021
Tel. No.: 91-22-22854563, 2285 4564
E-Mail: contact@euindiachambers.com
v Metal and Stainless Steel Merchants Associations
63 Jamunadas Building, Ground
Floor, 10th
Mumbai – 400 004
Tel No.: 91-22-56393627, 23801116
E-Mail: info@massma-org.com
We visited the office of the company where following observations were carried on:
v Name Board could be sighted and the visibility of the Name Board is high.
v The concern’s office is easy to locate.
v Subject is located in a commercial area.
v Items such as Telephone, Fax Machine and Computers could be seen at the company’s office.
Website Details attached:
Subject has been serving some of the most prestigious suppliers of
metals and scrap across the world in selling their materials across the globe
for last 20 yrs. The company has extensive contacts in
Established in 1988, under the strong leadership of the Managing
Director - Mr. Purushottam Parolia, the company has come a long way today from
its modest beginning to an extensive network of buyers and suppliers across the
globe. Mr. Parolia's in-depth experience in metal and a formal degree in
Metallurgical Engineering from the prestigious Indian
At present the company boasts of excellent manpower with fine technical
and managerial knowledge from leading institutes of the world. Nihon Ispat is
proud to have a professional approach towards its customers, thereby constantly
converting business into long-term relationships.
The Organization strives to constantly expand its presence through
developments of new suppliers and buyers around the globe.
Their web site will help give you a brief overview of their activities
and company credentials.
They are members of the following
organizations related to Metals and Trading:
BIR (www.bir.org)
BIR is an international trade federation representing the world’s recycling
industry, covering in particular ferrous and non-ferrous metals, paper and
textiles. About 600 companies and national federations from over 60 countries
are affiliated to BIR. Together they offer an international forum for
industrial exchange and business contacts. They provide their expertise to
other industrial sectors and political groups in order to promote recycling.
ISRI (www.isri.org)
The Institute of Scrap Recycling Industries, Inc. (ISRI) is the “Voice of the
Recycling Industry.” With 21 chapters nationwide and headquarters in
Washington, D.C., ISRI represents more than 1,200 companies that process,
broker, and consume scrap commodities, including metals, paper, plastics,
glass, rubber, electronics, and textiles. The Institute provides education,
advocacy, and compliance training, and promotes public awareness of the value
and importance of recycling to the production of the world’s goods and
services.
India Lead Zinc Development Association, known as ILZDA in brief, setup in
1962, is a non-profit non-commercial organization, dedicated to market
development and dissemination of technical information in respect of Lead, Zinc
and their applications. ILZDA works in close co-operation with International
Zinc Association (www.iza.com),
International Lead Zinc Study Group (www.ilzsg.org), International Lead Zinc Research
Organization (www.ilzro.org )
etc. as well as similar Lead/Zinc Development Associations in other countries.
Indo-Australian Chamber of Commerce
Indo-Australian Chamber of Commerce is the only bi-national Chamber in
Council of EU Chamber of Commerce in
The Vision: Promote commercial relations between
The
Metal and
Stainless Steel Merchants Association
Bombay Metal
Exchange Ltd
Bombay Non ferrous Metals and Scraps
Association
Products
Primary Metals
All kinds of Brass Scraps
All kinds of Aluminum Scraps
All kinds of Copper Scraps
All kinds of Stainless Steel Scraps
All kinds of Zinc Scraps
All kinds of Steel scraps
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
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.41.01 |
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1 |
Rs.81.39 |
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Euro |
1 |
Rs.55.30 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
4 |
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PAID-UP CAPITAL |
1~10 |
1 |
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OPERATING SCALE |
1~10 |
1 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
1 |
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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 |
2 |
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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 |
|
8 |
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 |
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