MIRA INFORM REPORT
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Report Date : |
13.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
NARCHEM INDUSTRIES |
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Registered Office : |
7 Monika Apartments, Panchpakhadi, Opposite Gurukul Society, Thane –
400 602, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
Since last 20 years |
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Legal Form : |
Sole Proprietory Concern. |
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Line of Business : |
Manufacturer and Exporter of Additives, Lead, Manganese Dioxide and
Cobalt Octoate. |
RATING &
COMMENTS
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MIRA’s Rating : |
NR |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 4000 |
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Status : |
Undetermined |
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Comments : |
Management of the concern remained non – co-operative during current
investigation. The concern appears to be a small and currently claims that it has no
foreign business. No payment are available. In view of availability of limited business information, we could not
rate the concern. |
LOCATIONS
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Registered Office/ Factory : |
7 Monika Apartments, Panchpakhadi, Opposite Gurukul Society, Thane –
400 602, Maharashtra |
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Tel. No.: |
91-22-25365742 |
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Fax No.: |
91-22-25365214 |
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E-Mail : |
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Website : |
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Regional Office: |
·
Gujarat Region ·
Chennai And Kerala Region ·
Madhya Pradesh Region ·
Vijayawada (Andhra Pradesh) Region ·
Delhi And Up Region ·
Nagpur Region ·
Karnataka Region ·
Coimbatore
Office: Sri
Balaji Agencies |
SOLE PROPRIETOR
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Name : |
Mr. S Narkhede |
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Designation : |
Proprietor |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Additives, Lead, Manganese Dioxide and
Cobalt Octoate. |
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Products : |
· Cobalt · Manganese · Cerium · Lead · Calcium and Zinc · Iron · Copper · Polyesters · Lubricant Additives · Preservatives · Noskin · Narsperse · Narpact Paste · Narsperse Aqua |
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Imports : |
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Products : |
Octoic Acid |
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Countries : |
Germany |
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Terms : |
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Selling : |
L/C, Cash |
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Purchasing : |
L/C, Cash |
GENERAL
INFORMATION
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Customers : |
Wholesalers, Retailers, End Users. |
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No. of Employees : |
Around 10 |
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Bankers : |
Bank of Maharashtra Address: Dombivli (East) Branch |
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Banking
Relations : |
---- |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 1.000 million |
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Borrowed : |
---- |
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Total : |
Rs. 1.000 million |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2007 |
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Sales Turnover (Estimated) |
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15.000 |
LOCAL AGENCY
FURTHER INFORMATION
WEBSITE DETAILS:-
The concern has the experience for more than four decades in the field of manufacture of Metal Carboxylates, (NARSEC, NARNAP and NARCOMB) for solvent and WATERBORNE coatings.
They offer their end product under stringent quality control, keeping their
selves upto date with the technical advancement in the field. Working without
bias and under complete confidentiality, their focus is on innovative and
practicable technology through programmes of collaborative research and cost
effective bulk manufacturing.
They are regularly manufacturing the following carboxylates and also undertake
manufacture of proprietary products under complete confidentiality. They are
manufacturing the following metal carboxylates regularly, like, Cobalt,
Manganese, Lead, Cerium, Aluminium, Vanadium, Nickel, Cadmium, Tin, Calcium,
Silver, Gold, for different applications and properties.
Having more space for extended stock keeping and better technical equipment, subject has developed itself to be one of the leading house for various octoates. With strict internal processes, subject is steadily improving its quality assurance. This effort has been rewarded by the presence in numerous Paints, Printing Inks and Plastic Industries.
The individual expertise, motivation and quality commitment of this small and specialized company has been and will be the key to its success. Presently subject offers a range of octate compounds as will be evident in the product gallery.
The concern prides itself in providing the highest quality products, services and dependability to their distinguished and demanding clientele.
PRODUCTS:
Narsec / Narnap
COBALT
Primary surface drier and generally used in combination with other metals. The strong surface property is used with advantage in wrinkle finishes.
MANGANESE
This metal drier is intermediate in activity between Cobalt and Lead. It has both oxidising and polymerising property. It has a tendency to stain or darken light color films.
CERIUM
This rare earth drier promotes through drying and also good in polymerisation action. It is superior to zirconium and lead. It has tendency to become yellow and promotes skin formation in the container.
LEAD
This drier helps in through drying and also polymerisation. It has the tendency to form haze in alkyds and is to be used with calcium.
CALCIUM and ZINC
These are auxillary driers and quite good in presence of active driers like cobalt. Calcium prevents haze formation of lead in alkyd. Zinc acts as rotproofing agent. Both the driers are powerful dispersing and wetting agents for pigments.
IRON
It has very little action in air drying finishes. It is very active in storing finishes and for B.N.S.L and C.N.S.L based coatings.
COPPER
Copper processes considerable fungicidal and insecticidal properties. It protects timber, plywood, fabric, tarpaulins. The % normally retained should br 0.5 Cu. It is also available in emulsifiable concenterate, which can be diluted with water.
POLYESTERS
Range of polyester resins suitable for Fibre glass moulding, lamination grade and others are produced. The concern polyester catalyst is used along with organic peroxides to accelerate curing of polyesters.
LUBRICANT ADDITIVES
Extreme pressure sensitive additives for gear oil and greases, rust inhibiting products are offered.
PRESERVATIVES
In can container and for interior and external surface for Oil Bound Distemper, Emulsion Paints
NOSKIN
Antiskinning agent to prevent skin formation in container.
NARSPERSE
The unique dispersing agent for heavily loaded pigments like flat oil paints and wood, cement redoxide primers.
NARPACT PASTE
Excellent effective loss of dry inhibitor on storage to be added during mill base grinding can be used 0.5 % to 2 % on pigments used in the paint like red, black, white, etc.
NARSPERSE AQUA
Subjects are producing Narsperse Aqua water-reducible driers. They are used in water based coatings as these will be quite in demand due to solvent pollution problems. NARSPERSE AQUA are excellent, very cost effective and promote rapid drying.
In addition to the above mentioned common driers they also
offer carboxylates of Nickel, Lithium, Potassium, Chromium, Silver, Gold and
others to special requirements.
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.39.57 |
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UK Pound |
1 |
Rs.78.93 |
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Euro |
1 |
Rs.56.85 |
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 and 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 and 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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