MIRA
INFORM REPORT
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Report Date : |
07.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
TILE ITALIA MOSAIC PRIVATE LIMITED |
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Registered Office : |
37, Brahmamamda Court, Lal Baug Road, Bangalore – 560 027, Karnataka |
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Country : |
India |
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Financials (as on) : |
31.03.2003 |
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Date of Incorporation : |
14.05.1987 |
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Com. Reg. No.: |
8356 |
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CIN No.: [Company
Identification No.] |
U26921KA1987PTC008356 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BLRT00890B |
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PAN No.: [Permanent
Account No.] |
AAACT5425H |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Importers and Traders of different kinds of marble, stones, etc |
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/normal. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow and delayed |
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Litigation : |
Unknown |
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Comments : |
In absence of latest financial and business details, it would be
difficult to ascertain company’s performance and financial strength. In view of the aforesaid, it would be prudent to deal with company on
safe and secured trade terms and conditions, initially. |
LOCATIONS
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Registered Office : |
37, Brahmamamda Court, Lal Baug Road, Bangalore – 560 027, Karnataka |
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Tel. No.: |
91-80-41108560 / 22485844 |
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91-99456902922 / 9945690296 / 9945690295 / 9845007890 |
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Fax No.: |
91-80-41130023 |
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E-Mail : |
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Area : |
1500 sq. fts |
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Corporate Office : |
# 508, 15th Main, III Block, Koramangala, Bangalore - 560034, Karnataka, India |
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Tel. No.: |
91-80-5591666 |
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Fax No.: |
91-80-5582911 |
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E-Mail : |
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Website : |
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Factory / Stock Yard : |
· 15/A-3 and 4, Road No. 10, Jigini Industrial Area, Anekal Tk, Bangalore – 562 106, Karnataka Tel. No. 91-80-7825412 / 7825313 · Sarjapur Road, Jakkasandra, Koramangala, Bangalore - 560034, Karnataka Tel. No. 91-80-5531542 / 41101993 Fax No: 91-80-25531542 · Koramangala Sarjapura Road, Jakkasandra, Bangalore – 560 034 · No. 4, Thomas Lane South Boag Road, T Nagar, Chennai – 600 017 Tel No: 91-44-32913975 Fax No: 91-44-24320223 Mobile No: 91-9382842997 |
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Branches : |
granite/cobble stone/mosaic division
45/46, Safina Plaza, Infantry Road, Bangalore - 560001, Karnataka Tel. No. 91-80-5591666/5591944/1777 Fax. No. 91-80-5582670/5588291 marble division
S5 and S6, Gem Plaza, Infantry Road, Bangalore - 560001, Karnataka Tel. No. 91-80-5581612/2670 Fax. No.91-80-5582670 marble yard
Sarjapur Road, Jakkasandra, Koramangala, Bangalore - 560034, Karnataka Tel. No. 91-80-5531542 |
DIRECTORS
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Name : |
Mr. Shashidhar Patil |
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Designation : |
Director |
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Address : |
# 508, 15th Main, III Block, Koramangala, Bangalore - 560034, Karnataka, India |
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Date of Birth/Age : |
01/07/1955 |
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Date of Appointment : |
14/05/1987 |
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Name : |
Mrs. Asha Patil |
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Designation : |
Director |
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Address : |
# 508, 15th Main, III Block, Koramangala, Bangalore - 560034, Karnataka, India |
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Date of Birth/Age : |
19/07/1962 |
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Date of Appointment : |
14/05/1987 |
KEY EXECUTIVES
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Name : |
Mr. Pratibhan |
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Designation : |
Accountants |
BUSINESS DETAILS
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Line of Business : |
Importers and Traders of different kinds of marble, stones, etc |
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Products : |
v Polished granite slabs and marbles v Tiles v Cobbles v Pavers v Monuments v Artifacts v Landscape items |
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Exports : |
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Countries : |
Far East , Bahrain, USA, Belgium, Germany, The Netherlands, China, Spain, Italy and Singapore. |
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Imports : |
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Countries : |
Europe and Far East |
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Terms : |
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Selling : |
Sight, L/C and CAD |
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Purchasing : |
L/C |
GENERAL INFORMATION
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Customers : |
· Prestige Group · Sobha Group · UB Group, Bangalore, Karnataka · ICICI Bandra Kurla Complex, Mumbai, Maharashtra · Larsen and Toubro Limited · Times of India, Bangalore, Karnataka · Mannai Trading, Bahrain · Tame Constructions Company, USA · South Land Stone, USA · Maris Jos, Belgium · Ger Van Ommeren, The Netherlands · Bohlin, Spain · Tein, Shi Company Limited, Singapore · S. P. L. Limited, Delhi · Max India Limited · Vijay Group of Companies, Bangalore, Karnataka · Indusind Allies India Private Limited, Bangalore, Karnataka · Mount Carmel College, Bangalore, Karnataka · Indian Institute of Management, Bangalore, Karnataka · V. A. T. Institutions, Bangalore, Karnataka |
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No. of Employees : |
25 |
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Bankers : |
UCO Bank Address: K G Road, Bangalore |
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Banking
Relations : |
Unknown |
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Auditors : |
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Name : |
· Nagesh and Company Chartered Accountants · G. S. Jagadish Dixit & Company Chartered Accountants Address: 1278, Bull Temple Road, Bangalore - 5600019, Karnataka |
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Collaborations: |
Longinotti & Steinex of Italy |
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Group Companies: : |
Tile Italia Pavers, Bangalore |
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Associates/Subsidiaries : |
v Tile Italia Pavings Overseas v Tile Italia Developers Private Limited |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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500000 |
Equity shares |
Rs. 10/- each |
Rs. 5.000 millions |
Issued, Subscribed & Paid-up Capital : (as on
31.03.2003)
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No. of Shares |
Type |
Value |
Amount |
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100000 |
Equity shares |
Rs. 10/- each |
Rs. 1.000 million |
FINANCIAL DATA
[all figures are in Rupees Millions]
FINANCIALS:
No financial are
available after 2003.
Management
remained non – co-operative during current investigation.
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2003 |
31.03.2002 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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1.000 |
1.000 |
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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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1.380 |
1.380 |
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4] (Accumulated Losses) |
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[8.730] |
[7.109] |
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NETWORTH |
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[6.350] |
[4.729] |
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LOAN FUNDS |
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1] Secured Loans |
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15.912 |
10.052 |
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2] Unsecured Loans |
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0.000 |
0.176 |
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TOTAL BORROWING |
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15.912 |
10.228 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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9.562 |
5.499 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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4.250 |
3.843 |
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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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Sundry Debtors |
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7.512 |
3.308 |
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Cash & Bank Balances |
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Other Current Assets |
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Loans & Advances |
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Total
Current Assets |
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7.512 |
3.308 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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Provisions |
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0.947 |
0.748 |
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Total
Current Liabilities |
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2.200 |
1.652 |
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Net Current Assets |
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5.312 |
1.656 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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9.562 |
5.499 |
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PROFIT & LOSS ACCOUNT
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PARTICULARS |
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31.03.2003 |
31.03.2002 |
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Sales Turnover |
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4.703 |
3.313 |
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Other Income |
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0.018 |
1.056 |
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Total Income |
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4.721 |
4.369 |
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Profit/(Loss) Before Tax |
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[1.621] |
[1.704] |
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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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[1.621] |
[1.704] |
KEY RATIOS
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PARTICULARS |
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31.03.2003 |
31.03.2002 |
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PAT / Total Income |
(%) |
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[34.33] |
[39.00] |
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Net Profit Margin (PBT/Sales) |
(%) |
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[34.46] |
[51.43] |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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[13.78] |
[23.82] |
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Return on Investment (ROI) (PBT/Networth) |
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[0.25] |
[0.36] |
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Debt Equity Ratio (Total Liability/Networth) |
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2.85 |
2.16 |
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Current Ratio (Current Asset/Current Liability) |
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3.41 |
2.00 |
LOCAL AGENCY
FURTHER INFORMATION
FIXED ASSETS:
· Land,
· Building and
· Plant and machinery.
OTHER INFORMATION:
The company is trade terms with major IT Companies.
The company is an Export Oriented Organisation in granite rough blocks, slabs, tiles, cobbles and landscaping items. It also has a strong base in the domestic market with the products being a synergy of quality and aesthetics.
WEBSITE DETAILS:
Subject in granite rough blocks, slabs, tiles, cobbles and landscaping
items. It also has a strong base in the domestic market with the products being
a synergy of Quality and Aesthetics.
Subject started operations in 1981 as a manufacturer of tiles and has
diversified over the years into various other products including premium
Italian marbles for the building industry and is today a household name.
Over the years subject has built up a prized and wide network of clientele in
the domestic as well as overseas market. This has enabled the company to occupy
the unchallenged top slot in the premium range of granites and marbles.
Subject is recognized in the trade as the Numero Uno for:
- Quality
- On time Delivery
- Market Position
Complete Customer
Contentment is what they aim at.
Subject has a versatile range of products
catering to a very diverse range of customers. Products include polished
granite slabs and Marbles, Tiles, Cobbles, Pavers, Monuments, Artifacts and
various Landscape items. Their products have adorned buildings and homes
featured in reputed interior magazines the world over.
Domestic:
·
Polished and Flammed Granite
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Italian Marbles
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Granite Cobbles and interlocking cement
Pavers
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Pebbles
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Landscape Items
International
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Granite (Dimensional Blocks)
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Granite Polished slabs and Tiles
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Flammed Granites
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Granites Cobbles
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Monuments and Arteffects
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Landscape Items.
Behind every successful venture is a well-knit team. Subject boasts of a
team blending a mixture of youth and experience.
Providing direction to the team is Mr.Shashidhar Patil, the Managing Director.
Mr.Patil brings to the team a blend of dynamism, all round experience, business
sagacity and a practical approach.
Mr.Patil leads from the front and thus sets an example for the whole team.
Separate teams handle
- Marketing- both domestic and exports
- Production
- Quality Control
- Service
The teams are experienced and self-reliant. They form the backbone of
the continuous success Subject has savored.
Clientele
· Projects
· Amusement Parks / Hotel & Resorts
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
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.39.41 |
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UK Pound |
1 |
Rs.79.81 |
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Euro |
1 |
Rs.57.58 |
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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