MIRA
INFORM REPORT
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Report Date : |
03.02.2007 |
IDENTIFICATION
DETAILS
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Name : |
CHEMICALS
UNLIMITED |
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Registered Office : |
114, Keshav Baug, 2nd
Floor (Rear Side), Princess Street, Mumbai 400 002, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
1965 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMC14299F |
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PAN No.: [Permanent
Account No.] |
AAAFC1959Q |
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Legal Form : |
Partnership Concern with an unlimited
liability of the partners |
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Line of Business : |
Dealers and Suppliers of
Laboratory/Rare/Research Chemicals and Pharmaceutical Raw Materials. Also
importing Bulk and Semi Bulk Chemicals. |
RATING & COMMENTS
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MIRAs 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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Maximum Credit Limit : |
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Status : |
Moderate |
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Payment Behaviour : |
Slow
and delayed |
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Litigation : |
Clear |
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Comments : |
Management
of the concern remained non-cooperative during current investigation. They
are rough and rude during our current investigation. Subject
is an established concern having moderate track. Its payments are reported as slow and delayed. Your
proposed business dealings can be considered against D/A or D/P terms. No clean credit granted. |
LOCATIONS
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Registered Office : |
114, Keshav Baug, 2nd
Floor (Rear Side), Princess Street, Mumbai 400 002, Maharashtra, India |
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Tel. No.: |
91-22-2206 1308 / 26764462 |
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Fax No.: |
91-22-2206 7071 |
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E-Mail : |
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Area : |
1000 sq. ft |
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Location : |
Rented
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PARTNERS
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Name : |
Mr. Pravin S. Shah |
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Designation : |
Managing
Partner |
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Qualification : |
S.S.C |
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Name : |
Mr. Yatin L. Shah |
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Designation : |
Partner |
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Qualification : |
S.S.C |
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Name : |
Mr. Chandrakant S. Shah |
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Designation : |
Partner |
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Qualification : |
BE (CIVIL) |
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Name : |
Mr. Samir S. Shah |
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Designation : |
Partner |
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Qualification : |
BE (CIVIL) |
BUSINESS DETAILS
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Line of Business : |
Dealers and Suppliers of
Laboratory/Rare/Research Chemicals and Pharmaceutical Raw Materials. Also
importing Bulk and Semi Bulk Chemicals. |
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Imports from : |
U.K, U.S.A and Germany [Laboratory
Chemicals] |
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Terms : |
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Purchasing : |
L/C and Sight Draft |
GENERAL
INFORMATION
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Customers : |
Retailers and Wholesalers Some of the major customers of the concern includes : Hindustan Ciba Geigy Limited Aarey Road, P.B. No. 90002, Goregaon (East), Mumbai 400 063, Maharashtra Hindustan Lever Limited, Purchase Department Research Centre Chakala, Andheri (East), Mumbai 400 099, Maharashtra Hindustan Lever Limited, Research Centre 64, Main Road, White Field Post, Bangalore 560 066, Karnataka Astra Zeneca India Private Limited 277-T, Chowdaiah Road, Malleshwaram, Bangalore 560 003, Karnataka Syngene International Private Limited 20th K.M. Hosur Road, Hebbagodi, Bangalore 561 229, Karnataka Department of Atomic Energy Plot No. 1207, Veer Savarkar Marg, Cadell Road, EC TV Compound, Opposite Siddhi Vinayak Mandir, Prabhadevi, Mumbai 400028, Maharashtra Department of Atomic Energy Directorate of Purchase Unit Madras Regional Purchase Unit VI Floor, Shastri Bhavan, 26, Haddows Road, Chennai 600 006, Tamilnadu Unichem Laboratories Limited Prabhat Estate, S. V. Road, Jogeshwari (West), Mumbai 400 102, Maharashtra Hi-Media Laboratories Limited 23, Vadhani Industrial Estate, Ghatkopar (West), Mumbai 400 086, Maharashtra Sun Pharma Advance Research Centre Aceme Plaza, Opposite Sangam Cinema, Andheri Kurla Road, Andheri (East), Mumbai 400 059, Maharashtra |
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No. of Employees : |
18 |
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Bankers : |
Punjab and Sind Bank |
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Banking Relations : |
Unknown
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Associates : |
Chemicals Unlimited Import of Lab Chemicals Wilson Laboratories Import Bulk Semi Bulk Items |
CAPITAL STRUCTURE
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Capital
Investment : |
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Owned : |
Rs.
5.059 millions |
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Borrowed : |
-- |
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Total : |
Rs.
5.059 millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
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Particulars |
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31.03.2006 [Estimated] |
31.03.2005 [Estimated] |
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Sales Turnover |
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28.000 |
26.000 |
Expected
Sales for March, 2007 is Rs. 30.000 millions
LOCAL AGENCY
FURTHER INFORMATION
The concern is in trade terms with:
ุ Applichem GmbH Germany
ุ Connect Marketing GmbH Swiss
ุ Armar Swiss
ุ Avocado Research Chemicals Limited U.K.
ุ Senn Chemicals AG Swiss
ุ Equitech Bio Inc USA
ุ Diversified Biotech USA
ุ Fisher Scientific BV - Netherland
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 Intl 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
companys 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.44.11 |
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UK
Pound |
1 |
Rs.86.79 |
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Euro |
1 |
Rs.57.44 |
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 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
3 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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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 |
YES |
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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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29 |
This score serves as a reference to assess SCs 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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