MIRA
INFORM REPORT
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Report Date : |
23.08.2007 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
16A/1, Prathamesh, Mhada, Near Poonam Nagar, Mumbai -
400093, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1997 |
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Legal Form : |
Sole Proprietory
Concern. |
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Line of Business : |
Exporter and Manufacturer of Safety Matches, Talc, Shrink Labels & Sleeves for Packaging,
Shrink Wrapping Machine, BOPP Self Adhesive Tapes - Plain & Un-printed |
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. |
Small |
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Maximum Credit Limit : |
USD 40000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a
small exporter. Its trade relations are fair. Payments are reported as slow
but correct. The concern can be
considered for small to mediocre business dealings at usual trade terms and
conditions. |
LOCATIONS
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Registered Office : |
16A/1, Prathamesh, Mhada, Near Poonam Nagar, Mumbai -
400093, |
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Tel. No.: |
91-22-28214639 / 28203976/ 55227848
/ 55291807 |
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Mobile No.: |
919821277629 |
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Fax No.: |
91-22-28203976 |
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E-Mail : |
sneras@vsnl.com |
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Website : |
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Area : |
1200 sq. ft. |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Kishore S. Chandni |
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Designation : |
Sole Proprietor |
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Date of Birth/Age : |
46 Years |
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Qualification : |
Graduate |
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Experience : |
21 Years |
BUSINESS DETAILS
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Line of Business : |
Exporter and Manufacturer of Safety Matches, Talc, Shrink Labels & Sleeves for
Packaging, Shrink Wrapping Machine, BOPP Self Adhesive Tapes - Plain &
Un-printed |
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Exports : |
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Countries : |
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Terms : |
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Selling : |
L/C |
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Purchasing : |
Cash and Credit
(30/60 days) |
GENERAL INFORMATION
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Customers : |
v
Wholesalers v
Importers |
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No. of Employees : |
8 |
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Bankers : |
v
IDBI
Bank MIDC, Andheri (East), Mumbai – 400093 |
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Facilities : |
The concern donot
enjoy facility from its bankers. |
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Banking
Relations : |
- |
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Auditors : |
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Name : |
Bharat Mehta and
Associates Chartered
Accountants |
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Memberships
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Federation
of Indian Exports Organization (FIEO). |
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Associates/Subsidiaries : |
v
Sneras
International Wholesale Exports Packaging Materials |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 10.000
millions |
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Borrowed : |
-- |
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Total : |
Rs. 10.000
millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
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Particulars |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
50.000 |
40.000 |
45.000 |
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Export Value |
NA |
40.000 |
45.000 |
Expected Sales (2007-08) : Rs. 70.000 millions
LOCAL AGENCY FURTHER INFORMATION
Website details
attached:
Subject is a professionally managed manufacturer and exporter that
work on the principle of providing excellent service and quality products as
per the expectation of the customers. They manufacture a host of products that
includes Safety Matches, Talc, Shrink
Labels and Sleeves for Packaging and many other items of high quality
and durability. Their company is registered with Federation of Indian Exports
Organization (FIEO). They have a well-set import house in West Africa and
Product range and their Features
They offer a wide range of products marked with supreme quality at a
competitive price:
Talc - They offer the finest Talc suitable for Cosmetics and
Pharmaceutical and Paper Industry. They are available in various mesh and
brightness.
BOPP Tapes -Plain and Printed - Available in various sizes with the facility to print customer's
brand name on the core.
Printed Tapes - Available in any size and length up to three colors.
Match Boxes - In various shapes and sizes; reasonably priced.
Weighing Machines –
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Sr. No. |
Model |
Capacity |
Accuracy |
Additional Features |
Pan Size |
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A1 |
CA-123 |
120 GMS |
0.001 GM |
EXT BOX |
150 MM ROUND PLATE |
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A2 |
CB-220 LAB SCALE (SHIELD) |
220 GMS |
0.01 GM |
EXT BOX |
150 MM ROUND PLATE |
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A3 |
CB-350 LAB SCALE (SHIELD) |
350 GMS |
0.01 GM |
EXT BOX |
150 MM ROUND PLATE |
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A4 |
CT-601 LAB SCALE (SHIELD) |
600 GMS |
0.1 GM |
BUILT-IN |
150 MM ROUND PLATE |
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A5 |
CB-1201 LAB SCALE |
1200 GMS |
0.1 GM |
BUILT-IN |
150 MM ROUND PLATE |
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A6 |
CA-1202 LAB SCALE (SHIELD) |
1200 GMS |
0.01 GM |
BUILT-IN |
150 MM ROUND PLATE |
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A7 |
CB-5000 TABLE TOP (SHIELD) |
5000 GMS |
0.1 GM |
EXT BOX |
150 MM ROUND PLATE |
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B1 |
ELEGANT-6K1 (TABLE TOP/WITH TRAY |
6 KGS |
1.0 GM |
EXT BOX |
300 MM X 250 MM |
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C1 |
CT-1005- (TABLE TOP) |
10 KGS |
0.5 GM |
BUILT-IN |
340 MM X 220 MM |
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C2 |
CT-15K-1 (TABLE TOP) |
15 KGS |
1 GM |
BUILT-IN |
345 MM X 225 MM |
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C3 |
CT-25K-5 (TABLE TOP) |
25 KGS |
5 GMS |
BUILT-IN |
340 MM X 240 MM |
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D1 |
CP-50K-5 (PLATFORM) |
50 KGS |
5 GMS |
EXT BOX |
430 MM X 480 MM |
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D2 |
CP-120K-10 (PLATFORM) |
120 KGS |
10 GMS |
EXT BOX |
600 MM X 600 MM |
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D3 |
CP-200K-20 (PLATFORM) |
200 KGS |
20 GMS |
EXT BOX |
600 MM X 600 MM |
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D4 |
CP-300K-50 (PLATFORM) |
300 KGS |
50 GMS |
EXT BOX |
600 MM X 600 MM |
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D5 |
CP-500K-50 (PLATFORM) |
500 KGS |
50 GMS |
EXT BOX |
600 MM X 600 MM |
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D6 |
CP-IT-200-1 TONNE (PLATFORM) |
1000 KGS |
200 GMS |
EXT BOX |
900 MM X 900 MM |
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E1 |
HANGING SCALE |
300 KGS |
100 GMS |
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E2 |
HANGING SCALE |
500 KGS |
200 GMS |
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Attached
Services
They offer the
following services to their clients:
Wide Sourcing - They offer exclusive arrangements for various products
with quality being given the top priority. They provide diverse items at a
competitive price.
Packaging - With their in-house advertising and designing agency they
have the potential to design and execute the required brand name with utmost
precision and perfection.
Assortment - They offer a unique facility of assorting a container load
with products in reasonable quantities as per the requirement.
Shipments - Products are shipped promptly as agreed within the
stipulated period.
Providing their clients satisfactory results with qualitative products at
reasonable rates within the committed delivery time is their motive.
Export
Percentage: 100%
Primary
Competitive Advantages
Direct Sourcing
and Manufacturing
Subject offers a truly varied range of
items starting from Packaging Material and Machines to Matchboxes etc. They are
manufacturers and exporters of a variegated range of products including
Packaging Materials and Machines, etc. Their products have gained popularity in
the Indian and international market due to their quality and conformity to the
latest trends.
Their as an organization are committed to
a collection of quality related measures meant to ensure a high level of consistency
and superiority in quality.
Quality
The reputation that they enjoy in the market is due to the quality of products their offer. As a unit with an inbuilt R and D section, they are well quipped to ensure an all round quality that is a result of research and analysis conducted by their experts. The raw materials they acquire undergo strict quality analysis - only when cleared by their specialized individuals that the materials are deemed fit for the market.
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 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. 41.01 |
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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 |
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 |
4 |
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--PROFITABILIRY |
1~10 |
3 |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
4 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
4 |
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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 |
YES |
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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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33 |
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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