MIRA
INFORM REPORT
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Report Date : |
22.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
SHREEJI MICRO SYSTEMS INC |
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Registered Office : |
230, Karma Estate, Phase – 3, GIDC Vatva, Ahmedabad – 382445, Gujarat |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
2000 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacture, exporter and supplier of a wide range of surgical
instruments. |
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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Maximum Credit Limit : |
USD 4000 |
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Status : |
Small Concern |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is appeare to be a small concern in it’s field. Trade relations
are reported as fair. No payment are known. Initially, it should be considered for any business dealings on safe
and secured trade terms and conditions. |
LOCATIONS
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Registered Office : |
230, Karma Estate, Phase – 3, GIDC Vatva, Ahmedabad – 382445, Gujarat |
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Tel. No.: |
91-79-25831733 |
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Mobile No.: |
91-9824600855 |
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Fax No.: |
91-79-25893476 |
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E-Mail : |
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Website : |
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Area : |
800 sq. ft. |
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Location : |
Rented |
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Factory : |
Nizamuddin West, New Delhi |
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Area : |
240 sq. ft. |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Anil K. Chauhan |
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Designation : |
Proprietor |
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Date of Birth/Age : |
31 year |
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Qualification : |
Engineering |
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Experience : |
12 year |
BUSINESS DETAILS
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Line of Business : |
Manufacture, exporter and supplier of a wide range of surgical
instruments. |
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Products : |
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Exports : |
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Products : |
All Products |
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Countries : |
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Terms : |
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Selling : |
L/C, Cash and Credit (10 days), T/T |
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Purchasing : |
L/C, Cash and Credit (10 days), T/T |
GENERAL
INFORMATION
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Customers : |
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No. of Employees : |
15 |
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Bankers : |
ICICI Bank, Mani Nagar Branch |
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Facilities : |
- |
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Banking
Relations : |
Unknown |
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Auditors : |
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Name : |
Mittal Shah Chartered Accountants |
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Address : |
Ahmedabad |
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 |
31.03.2006 |
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Sales Turnover |
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1.200 |
0.800 |
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Expected Sales (2007-08) : Rs.2.500 Millions
LOCAL AGENCY
FURTHER INFORMATION
Website details:
Subject has made a significant contribution since its inception in the year
2000 by providing excellent services to the fraternity of medicine which is
known to be the most demanding environment. Imbibing the confidence and
experience of the leading surgeons, who have dedicated their lives to nurture
mankind, their brand has undoubtedly become one of the leading market player in
the industry. Their products are trustworthy and have been grounded on the
substratum of invaluable inputs made by their team of scientists. Similarly,
their Research and Development professionals' endeavor their extensive
expertise with the latest technology to build these products demand on a
worldwide basis.
Since their products play a critical role in the demanding field of surgery,
their primary objective is to manufacture products that meet strict hygienic
standards. They are a renowned manufacturer, exporter and supplier of a wide
range of Surgical Instruments such as Ophthalmic Instruments, Intraocular Lens,
Foldable Lens, Injection Cartridges, Orthopaedic Instruments, Orthopaedic
Implants, etc.
Their products are used by health care and research professionals in Turkey,
Africa, Europe and rest of the world. They have the esteemed Ribbel
International as one of their valued customers. Their efforts to provide
quality products to their clients, has also earned us recognition, in the form
of ISO 9001-2000 certification. All the while, they have maintained the perfect
blend of quality and affordability.
Product
Range
Subject is a reputed manufacturer, exporter and supplier of a wide range of
surgical Instruments. The modern designs, ease of use, full range of features
and accurate performance makes their range of instruments a preferred universal
choice.
Quality
Assurance
Subject all the manufactured instruments pass a series of
quality control inspections, allowing to confidently provide a guaranteed and
comprehensive product liability coverage. They commit to deliver innovative,
quality products to ensure the well-being of people around the world. Their
concern manufactures ophthalmic, surgical instruments that are made of durable,
stainless steel, crafted to exacting tolerances, and then are rigorously tested
for their functional reliability. As a responsible implantable medical devices
manufacturer, the sterility of their products and packaging material is
ensured. The products are properly packed and sealed with strict safety and
hygiene control measures.
Infrastructure
They, Subject have technically sound and sophisticated infrastructure, which
forms the basic backbone of the company. Their laboratory is well equipped with
modernized state-of-the-art equipment and requisite tools. The workforce of
their company comprises of efficient and learned doctors, technicians and other
professionals. Their Clinical Research Department has professionally qualified
staff that ensures the safety and efficacy of the product. The company has also
employed an experienced group of experts which observes the changing trends and
accordingly designs quality products for the total satisfaction of the clients.
Hallmark
Subject is a professionally managed company, observing higher business ethics
along with its commitment to the quality of its personnel, products and
services. They believe the following to be their strengths:-
- Competitive Prices
- High Quality
- Professional Efficiency
- High Precision Manufacturing Operations
- Reliability and Safety of the Products
- Excellent After Sales Services.
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 |
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 |
2 |
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OPERATING SCALE |
1~10 |
2 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
2 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
2 |
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--LEVERAGE |
1~10 |
2 |
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--RESERVES |
1~10 |
2 |
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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 |
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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21 |
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. |
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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