MIRA
INFORM REPORT
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Report Date : |
08.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
PULKIT PLASTIC PRODUCT |
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Registered Office : |
80/81 , Chirag Industrial Estate, Near Revebhai Estate, CTM, Ahmedabad
– 380 026, Gujarat |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1987 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer and Trader of PP Roofing Sheets, Decorative Sheets, Fibre
Sheets, Vacuum Forming Sheets, Wood Grain Plastic Sheets, etc. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 200000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established concern having satisfactory track. Trade
relations are fair. Payments are usually correct and as per commitments.
Nothing adverse reported. The concern can be considered normal for business at usual trade terms
and conditions. |
LOCATIONS
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Registered Office : |
80/81 , Chirag Industrial Estate, Near Revebhai Estate, CTM, Ahmedabad
– 380 026, Gujarat, India |
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Tel. No.: |
91-79-25861975 / 25860975 |
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Mobile No.: |
91-9825027919 |
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Fax No.: |
91-22-25850755/25860975/25860075 |
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E-Mail : |
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Website : |
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Area : |
2500 sq.yds |
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Location : |
Owned |
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Factory : |
Ahmedabad |
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Area : |
50000 sq.yds |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mrs. Sushama Agarwal |
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Designation : |
Proprietor |
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Date of Birth/Age : |
48 years |
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Qualification : |
Graduate |
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Experience : |
25 years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Trader of PP Roofing Sheets, Decorative Sheets, Fibre
Sheets, Vacuum Forming Sheets, Wood Grain Plastic Sheets, etc. |
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Products: |
·
Plastic Sheets ·
PP Sheets ·
HDPE Sheets ·
LDPE Sheets ·
PP Roofing Sheets ·
Decorative Sheets ·
Fibre Glass Sheets ·
Thermoforming Sheets ·
Vacuum Forming Sheets ·
Wood Grain Plastic Sheets
·
Warning Tape and Mate ·
Cable Protecting Sheets
·
Underground Gas Line Protecting Sheets ·
Lamination Sheets. |
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Imports : |
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Products : |
All products |
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Countries : |
Germany, US, UAE. |
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Terms : |
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Selling : |
Cash |
GENERAL
INFORMATION
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Customers : |
Distributors and direct users |
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No. of Employees : |
270 |
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Bankers : |
State Bank of India Address: Main Branch |
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Facilities : |
C/C – Rs. 1.200 millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Mr. Raman Jain and Company Chartered Accountants |
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Address : |
Ahmedabad |
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Associates/Subsidiaries : |
Singhal Plastic Industries Address: Ahmedabad |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 50.000 millions |
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Borrowed : |
--- |
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Total : |
Rs. 50.000 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2007 |
31.03.2006 |
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Sales Turnover |
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13.000 |
10.000 |
Expected Sales (2007-08): Rs. 14.000 millions
LOCAL AGENCY
FURTHER INFORMATION
WEBSITE DETAILS:
Subject brings a wide
range of exquisite plastic products which have created exemplary benchmarks in
the national as well as international market. Since their establishment in the
year 1987, they have been catering to the varied requirements of a wide
spectrum of customers. Consequently, they have moved a long way to fortify
their selves as an unmatched manufacturer,
trading company, importer and exporter of PP Roofing Sheets, Decorative Sheets,
Fibre Sheets, Vacuum Forming Sheets, Wood Grain Plastic Sheets, etc. Their
products find wide application in doors and windows, ceilings, domes,
skylights, partitions, etc.
They guarantee the customer with an easy installation including cutting,
drilling, and mounting on wooden, steel and aluminum frames. Owing to a dynamic
leadership and experienced professionals, they have emerged as one of the most
preferred companies in the plastic industry today. They keep their selves
abreast of the latest developments, trends and technologies in the industry in
order to cope up with the global market pressure. Their emphasis on complete
customer satisfaction, within a short span, has won them the trust, confidence
and assurance of worldwide customers.
Products
Subject has built
up a reputation in the roofing and cladding industry for high standards of
quality materials. Their unique continuous production process ensures
consistent weight, uniform thickness and good profile matching. Fibre glass
roofing sheets give plenty of natural light. At the same time, they are
decorative and enhance the beauty of the roof. Their unparalleled range of
products includes:
·
Plastic Sheets
·
PP Sheets
·
HDPE Sheets
·
LDPE Sheets
·
PP Roofing Sheets
·
Decorative Sheets
·
Fibre Glass Sheets
·
Thermoforming Sheets
·
Vacuum Forming Sheets
·
Wood Grain Plastic Sheets
·
Warning Tape and Mate
·
Cable Protecting Sheets
·
Underground Gas Line Protecting Sheets
·
Lamination Sheets.
Quality
Quality is of
paramount importance to them. Their team of quality control inspectors monitor
each and every stage of the production process in order to nurture quality at
all the levels of the business. Their high quality and water proof sheets are
available in various legends and attractive designs and sizes. The ready to
paint or stain sheets complement and match both interior and exterior designs.
Their products are made with the most innovative technology under stringent
quality control procedures, making them more competitive in the world class
market. To ensure world class products and services to their customers on time
and at competitive prices, they maintain a quality management system complying
with international parameters helping them to remain far ahead of their
competitors.
Infrastructure
They are backed by
sound and well equipped infrastructure coupled with cutting edge technology.
Their in house manufacturing unit is harnessed with the power of ultra modern
machineries which yield satisfactory results at low maintenance cost. The scope
of the quality system continues to expand integrating with the procedures which
ensure safe and environmentally responsible operations in accordance with the
relevant statutory and regulatory requirements of the company. The process of
mating of the gel coating to the sheet resin and reinforcing fibre is precisely
controlled and the sheets travel directly through profile forming and over
curing. The finished products emerge as totally integrated and no surface
determination is possible afterwards. Further, a highly UV resistant and
futuristic gel coat reduces surface erosion practically to zero. Their spacious
and technologically advanced warehouses have the capacity to store and execute
bulk amount of order as per the specific requirements of the customers.
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.39.38 |
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UK Pound |
1 |
Rs.80.07 |
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Euro |
1 |
Rs.57.66 |
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 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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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 |
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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45 |
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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