MIRA INFORM REPORT
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Report Date : |
22.02.2007 |
IDENTIFICATION DETAILS
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Name : |
SAMIR
AGENCIES |
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Registered Office : |
8 Khimji Meghji House, 1st
Floor, 11/15, Issaji Street, Vadgadi, Mumbai – 400 003,
Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
1993 |
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TAN No.: [Tax Deduction & Collection Account No.] |
MUMS18875D |
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PAN No.: [Permanent Account No.] |
AABFS2988J |
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Legal Form : |
Partnership concern with an unlimited liability of the partners |
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Line of Business : |
Importers and traders of chemicals |
RATING & COMMENTS
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MIRA’s Rating : |
A |
RATING
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STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 200000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a
well-established and reputed importers & traders. Available information
indicates high financial responsibility of the concern. General reputation is
favourable. Payments are usually correct and as per commitments. The
concern can be regarded as a promising business partner in a long-run. |
LOCATIONS
|
Registered Office : |
8 Khimji Meghji House, 1st
Floor, 11/15, Issaji Street, Vadgadi, Mumbai – 400 003,
Maharashtra, INDIA |
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Tel. No.: |
91-22-2342 4063 / 2342 4064
/ 2346 2331 |
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Fax No.: |
91-22-2341 0788 |
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E-Mail : |
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Area : |
Owned -- 550 sq.fts |
PARTNERS
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Name : |
Mr.
Hemant Kanakia |
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Designation : |
Partner |
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Age : |
39
years |
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Qualification : |
B.Com.,
LL.B. |
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Experience : |
20
years |
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Name : |
Mr. Samir Kanakia |
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Designation : |
Partner |
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Name : |
Mrs. Bina Kanakia |
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Designation : |
Partner |
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Name : |
Mrs. Chhaya Kanakia |
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Designation : |
Partner
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BUSINESS DETAILS
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Line of Business : |
Importers and traders of chemicals |
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Imports from : |
Germany,
Sweden and The Netherlands |
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Terms : |
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Purchasing : |
D/P
(90 days) terms |
GENERAL INFORMATION
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Customers : |
Traders and actual users |
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No. of Employees : |
7 |
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Bankers : |
Ø
Union Bank of India 105/109 Kazi Sayed Street, Khand
Bazar, Mumbai – 400 003 Ø
Bank of Baroda |
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Facilities : |
Imports L/C – Rs.8.0 millions; DP – Rs.2.0
millions; CC (Hypothecation) –
Rs.0.6 million |
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Banking Relations : |
Satisfactory |
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Sister Concern : |
Ø
Samir Enterprises -- Acts as importers and
traders of Chemicals Ø
Rajnikant Shantilal Ø
Samir Dye Chem |
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Memberships : |
Ø
Chemicals & Alkali
Merchants Association Ø
Indian Resin
Manufacturers’ Association |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.46.852
millions |
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Borrowed : |
-- |
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Total : |
Rs.46.852
millions |
FINANCIAL
DATA
[all figures are in Rupees Millions]
ABRIDGED
BALANCE SHEET
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SOURCES OF FUNDS |
|
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Partner’s Capital |
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46.852 |
39.379 |
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3] Reserves & Surplus |
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0.000 |
0.00 |
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NETWORTH
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46.852 |
39.379 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
0.000 |
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2] Unsecured Loans |
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4.856 |
11.255 |
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TOTAL
BORROWING
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4.856 |
11.255 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL
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51.708 |
50.634 |
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APPLICATION OF FUNDS
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FIXED ASSETS [Net Block]
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0.911 |
1.051 |
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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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Closing Stock
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28.458
|
26.281
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Sundry Debtors
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29.895
|
34.872
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Cash & Bank Balances
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0.109
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0.133
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Other Current Assets
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0.071
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1.627
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Total Current Assets
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58.533 |
62.913
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Less : CURRENT LIABILITIES & PROVISIONS
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Current Liabilities and Provisions
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0.631
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6.950
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Sundry Creditors
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7.105
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6.380
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Total Current Liabilities
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7.736 |
13.330
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Net Current
Assets
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50.797 |
49.583
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MISCELLANEOUS EXPENSES
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0.000 |
0.000 |
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TOTAL
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51.708 |
50.634 |
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PROFIT & LOSS ACCOUNT
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PARTICULARS |
|
31.03.2006 |
31.03.2005 |
Sales Turnover [including other income]
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169.041 |
164.041 |
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Profit/(Loss) Before Tax
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3.682 |
9.419 |
Provision for Taxation
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0.000 |
0.000 |
Profit/(Loss) After Tax
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3.682 |
9.419 |
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Total Expenditure
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165.359 |
180.902 |
KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
PAT / Total Income
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(%)
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2.18 |
5.741
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Net Profit Margin
(PBT/Sales) |
(%) |
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2.18 |
5.741
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Return on Total Assets
(PBT/Total Assets} |
(%) |
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6.19 |
14.72
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Return on Investment (ROI)
(PBT/Networth) |
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0.08 |
0.23
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Debt Equity Ratio
(Total Liability/Networth) |
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0.27 |
0.62
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Current Ratio
(Current Asset/Current
Liability) |
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|
7.57 |
4.71
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LOCAL AGENCY FURTHER INFORMATION
The concerns’ 90% of the
products are sold to Actual Users and the remaining 10% to the Traders.
It is in trade terms with :-
Ø
Engineering &
Chemical Corporation, Mumbai, India
Ø
K. Rasiklal &
Company, Mumbai, India
Ø
Chemet, Mumbai, India
Ø
BASF (India) Limited,
India
Ø
BASF, Germany
Ø
Degussa, Germany
Ø
Clariant, Germany
Ø
Akzo Nobel, Sweden
Ø
Delamine, The
Netherlands
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 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
|
Indian Rupees |
|
US
Dollar |
1 |
Rs.44.25 |
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UK
Pound |
1 |
Rs.86.41 |
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Euro |
1 |
Rs.58.10 |
SCORE & RATING EXPLANATIONS
RATING
|
STATUS |
PROPOSED CREDIT LINE |
|
|
>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 |
|
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 |
|
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 |
|
<10 |
C |
Absolute credit risk
exists. Caution needed to be exercised |
Credit not recommended |