MIRA
INFORM REPORT
|
Report Date : |
22.08.2007 |
IDENTIFICATION DETAILS
|
Name : |
VIN INTERNATIONAL |
|
|
|
|
Registered Office : |
4-3-149, |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
April 2007 |
|
|
|
|
Legal Form : |
Sole Proprietory Concern |
|
|
|
|
Line of Business : |
Importers of various types of Adhesive Tapes. Subject also acts as a
Distributor for Saint Gobain Performance Plastics. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
- |
|
|
|
|
Status : |
New Concern |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a new company and in the process of establishing itself.
Proprietor is a young and energetic person. Trade relations are reported as
fair. No payment are available at present. The concern can be considered for small business dealings with slight
caution, initially. |
LOCATIONS
|
Registered Office : |
4-3-149, |
|
Tel. No.: |
91-40-27712146/27710134 |
|
Mobile No.: |
91-9391043107 |
|
Fax No.: |
91-40-27713296 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
200 Sq. fts. |
|
Location : |
Rented |
SOLE PROPRIETOR
|
Name : |
Mr. Vivek Maheshwari |
|
Designation : |
Proprietor |
|
Date of Birth/Age : |
26 years |
|
Qualification : |
B. Com. |
|
Experience : |
6 years |
BUSINESS DETAILS
|
Line of Business : |
Importers of various types of Adhesive Tapes. Subject also acts as a
Distributor for Saint Gobain Performance Plastics. |
|
|
|
|
Products : |
v
Ducting Tapes v
Self Fusing Tapes v
Surface Protection Tapes v
Glass Mica Tapes v
Dry Wall Joint Tapes v
Dhpe Fabric Tapes v
Kaption Adhesive Tapes v
Filament Tapes v
Plasma Spray Masking Tapes v
Naylon Adhesive Tapes v
Speciality Taps v
Other Industrial Tapes |
|
|
|
|
Terms : |
|
|
Selling : |
L/C, Credit |
|
|
|
|
Purchasing : |
L/C, Credit |
GENERAL INFORMATION
|
Customers : |
End Users |
|
|
|
|
No. of Employees : |
15 |
|
|
|
|
Bankers : |
v
Central Bank of Raniganj, v
ICICI Bank |
|
|
|
|
Facilities : |
- |
|
|
|
|
Banking
Relations : |
- |
|
|
|
|
Auditors : |
|
|
Name : |
Venumadhav and Company Chartered Accountants |
CAPITAL STRUCTURE
|
Capital Investment : |
Not Available |
FINANCIAL DATA
[all figures are
in Rupees Millions]
Expected Sales (2007-08): Rs. 15.000 millions
LOCAL AGENCY FURTHER INFORMATION
Website details attached:
Profile
Adopting the latest techniques and understanding of market dynamics, subject
was established to cater to the worldwide market in the area of tapes.
Delivering products in tune with the customer’s requirement has been the sole
aim of the company. They are a trustworthy manufacturer, exporter,
importer and trader of a wide range of specialty
adhesive tapes and allied products. Their range of products
include specialty tapes, industrial tapes, plasma spray masking tapes, filament
tapes, ducting tapes, self fusing tapes, HDPE fabric tapes, wall joint tapes,
etc. They have earned a respectable position in the domestic
and international market since their inception owing to their premium quality
products offered at reasonable prices.
It has been their mission to serve their customers with the
best products and solutions thereby winning complete customer satisfaction.
Their vision is to become an organization committed to excel in the chosen
market they focus. They intend to serve by understanding the needs of their
valued customers and by providing reliable, cost effective, and quality
products.
Products
The products of subject find application in all the sectors of the industry.
Their clients include government bodies, Corporates, multinational companies,
etc. They are a reputed manufacturer, exporter, importer and trader of the
following tabulated products:
|
Ducting Tapes |
Self
Fusing Tapes |
|
Surface
Protection Tapes |
Glass Mica
Tapes |
|
Dry Wall
Joint Tapes |
HDPE
Fabric Tapes |
|
Kapton
Adhesive Tapes |
Filament
Tapes |
|
Plasma
Spray Making Tapes |
Nylon
Adhesive Tapes |
|
Specialty
Tapes |
Industrial
Tapes |
Quality Standards
Quality being the key-driver of their widespread business, they ensure to
deliver tested and approved products. Their products conform to the
international quality standards and are approved for supply in the global
market. They are equipped with the required quality testing instruments to
check the quality of the products. A team of quality control experts monitors
the entire process so that only defect-free products reach the market.
Infrastructure
Their production unit is fully equipped with latest machineries. Constant
innovation in quality and technology are the key factors, which have led to the
growth of the organization. All this has been possible due to the sound
infrastructure that subject possesses. Their workforce's professional approach
towards providing the finest quality distinguishes their products from the
competitors' products. They ensure to deliver consignments of any size, any
where and that too within the stipulated time frame.
Primary Competitive Advantages
A
huge variety of adhesive tapes
Competitive
pricing
Ontime
delivery
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 41.01 |
|
|
1 |
Rs. 81.39 |
|
Euro |
1 |
Rs. 55.30 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
- |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
2 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
15 |
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. |
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 |
|