MIRA
INFORM REPORT
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Report Date : |
01.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
SUNARK ALUMINIUM INDUSTRIES PRIVATE LIMITED |
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Registered Office : |
45 Chairman A Shumugam Road, Sivakasi, Thiruthangal – 626130, Tamil
Nadu |
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Country : |
India |
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Date of Incorporation : |
11.09.2007 |
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Com. Reg. No.: |
64681 |
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CIN No.: [Company
Identification No.] |
U27203TN2007PTC064681 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Exporter and trader of Unmatched Aluminium Products |
RATING &
COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
New Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a new company and has no track of performance. No financials are available. Management remained non –co-operative during current investigation. In view of the aforesaid, it would be advisable to deal with the
concern on fully safe and secured trade terms and conditions. |
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LOCATIONS
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Registered Office : |
45 Chairman A Shumugam Road, Sivakasi, Thiruthangal – 626130, Tamil
Nadu, India |
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Tel. No.: |
91-4562-654436 |
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Mobile No.: |
91-9952420184 / 9944699922 |
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Fax No.: |
91-4562-232636 |
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E-Mail : |
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Website : |
DIRECTORS
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Name : |
Mr. Poornachandran Sivakumar |
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Designation : |
Director |
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Address : |
45 Chairman A Shumugam Road, Sivakasi, Thiruthangal – 626130, Tamil
Nadu, India |
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Date of Birth/Age : |
22.01.1968 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter and trader of Unmatched Aluminium Products |
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Products : |
·
Lucule Granule- Aluminium Granule ·
Lucule Concrete - Aluminium Concrete Powder ·
Lucule Grit- Aluminium Powder ·
Lucule Fire- Pyro-Technic Aluminium Powder ·
Silver Lucule- Aluminium Paste. |
GENERAL
INFORMATION
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No. of Employees : |
20 |
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Bankers : |
NA |
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Banking
Relations : |
Unknown |
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Memberships : |
· Indo-American Chamber of Commerce, · Chemicals and Allied Products Export Promotion Council (CAPEXIL) · Confederation of Indian Industry (CII) |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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1000000 |
Equity shares |
Rs. 10/- each |
Rs. 10.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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12000 |
Equity shares |
Rs. 10/-
each |
Rs. 0.120
million |
FINANCIAL DATA
[all figures are in Rupees Millions]
Financials:
No financials are available as the subject is a new company.
LOCAL AGENCY
FURTHER INFORMATION
WEBSITE DETAILS:
With a
strong force of technically skilled workers and an outstanding infrastructural
facility, they, at the company, introduce
their selves as a trustworthy manufacturer,
exporter and trader of unmatched
aluminium products. Their product galore includes aluminium granules, aluminium grit/ powder, pyro-technic aluminium
powder and aluminium paste. Their products are widely used in various
industrial sectors such as Steel Industries, Exothermic Applications, etc. They
follow harsh and rigid quality control procedures in their process in order to
ensure flawless production. Their products are supported by first class sales
service and a technical back-up. They are known for their client oriented approaches
and transparent trade practices in the entire business community. The company
has earned a substantial market base in a very limited span of time. They offer
their products under the brand name of "Lucule". Their company is a
proud member of Indo-American Chamber of Commerce, Chemicals and Allied
Products Export Promotion Council (CAPEXIL) and Confederation of Indian
Industry (CII).
Products
The
company is a distinguished manufacturer, exporter, and trader of 30 micron to
15 mm. of Aluminium Grit and Aluminium Granule in the forms of:
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Lucule Granule- Aluminium Granule
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Lucule Concrete - Aluminium Concrete Powder
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Lucule Grit- Aluminium Powder
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Lucule Fire- Pyro-Technic Aluminium Powder
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Silver Lucule- Aluminium Paste.
Quality
Assurance
Their company
is keenly administered by sound management ethics at every level of its process
that facilitates smooth and flawless production. Every operation at the company
is executed under the strict supervision of trained professionals that hardly
leaves even a small corner for faulty production. Their professionals procure
the best quality of Aluminium Scrap and Foil from the European and Asian
markets. They are committed to provide their reputed customers with products
that are made as per defined specifications and meet their required
criteria with consistency. The finished items are properly inspected by experts
before their packaging, thus ensuring the flow of best products to the market.
Their capability to ensure timely delivery provides us an additional edge over
other players operating in the similar arena. They have employed Laser
Diffraction Practical Size Analyzer in their process.
Client
Satisfaction
Their
endeavours are actually directed towards achieving the highest levels in the
arena of client satisfaction. They provide personalized after sales services to
their clients.
Infrastructure
They are well
supported by an outstanding facility comprising of the latest standardized
machines, innovative workforce and huge storage facilities. Their robust infrastructural
setup has helped us to execute every task smoothly and efficiently. They also
have a full fledged laboratory to conduct various tests on their products.
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
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.39.67 |
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UK Pound |
1 |
Rs.81.78 |
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Euro |
1 |
Rs.58.46 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
2 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
--- |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
-- |
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--LIQUIDITY |
1~10 |
2 |
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--LEVERAGE |
1~10 |
2 |
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--RESERVES |
1~10 |
--- |
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--CREDIT LINES |
1~10 |
2 |
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--MARGINS |
-5~5 |
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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 |
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14 |
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/normal. |
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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