MIRA
INFORM REPORT
|
Report Date : |
01.01.2007 |
IDENTIFICATION
DETAILS
|
Name : |
TARUN
ENTERPRISES PRIVATE LIMITED |
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Registered Office : |
5036-37 Excelisor Cinema Street,
Sirikiwalan, Delhi – 110 006, INDIA |
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Country : |
India |
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Financials (as on) : |
31.03.2005 |
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Date of Incorporation : |
05.03.1997 |
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Com. Reg. No.: |
55-85596 |
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CIN No.: [Company
Identification No.] |
U27106DL1997PTC085596 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELT02688A |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and exporter of all kinds of Saw Blades, Grinding Machines, Builders Hardware, Brass hardware, Electrical Switches and Ceramic Tiles |
RATING & COMMENTS
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MIRA’s 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 : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject
is an established company having moderate track. No payment records are
available. Profit margin is low. The
company can be considered for small to moderate business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
5036-37 Excelisor Cinema Street, Sirikiwalan, Delhi – 110 006, INDIA |
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Tel. No.: |
91-11-23215693, 23215725, 22731805, 22762641 |
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Fax No.: |
91-11-23213370 |
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E-Mail : |
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Website : |
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Location : |
Commercial |
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Export
Division : |
C-33, South Extension Part – II, New Delhi – 110049 |
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E-Mail: |
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Location : |
Commercial |
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Head Office : |
K-6, South Extension Part – I, New Delhi – 110049 |
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Tel. No.: |
91-11-51646344 |
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Fax No.: |
91-11-51646744 |
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Location
: |
Commercial |
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Branch
Office |
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Ludhiana
Office : |
48-49,
Under Flyover (Near Manju Cinema), Dholewal Chowk, G.T. Road, Ludhiana –
141003 |
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Tel.
No.: |
91-161-2537239
/ 25127579 |
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Secunderabad
Office : |
2-3-199/200,
Ram Gopalpet, Nallagutta, Secunderabad 500003 |
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Tel.
No.: |
91-40-27819626
/ 65313347 / 27732933 |
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Chennai
Office : |
15,
Velayuthom Street (Near Clive Battery) Chennai – 600001 |
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Tel.
No.: |
91-44-25266626
/ 25118748 / 24313679 |
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Ahmedabad
Office : |
77-78,
Neel Kanth Estate, Opposite Jaipur Golden Transport, Near Ujala Chowkdi,
Sarkhej, Ahmedabad – 382210, Gujarat.
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DIRECTORS
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Name : |
Mr. Baldev Kumar Gupta |
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Designation : |
Chairman –cum- Managing Director |
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Address : |
Flat -29, Engineers Apartment, Patparganj, I.P. Extension, Delhi - 110092 |
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Date of Birth/Age : |
05/09/1952 |
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Date of Appointment : |
05/03/1997 |
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Name : |
Ms. Arti Gupta |
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Designation : |
Director |
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Address: |
Flat -29, Engineers Apartment, Patparganj, I.P. Extension, Delhi – 110092 |
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Date of Birth/Age : |
13/11/1954 |
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Date of Appointment : |
05/03/1997 |
KEY EXECUTIVES
|
Name
: |
Mr. Tarun Adhir Bhowmik |
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Designation
: |
Chief Exeucutive officer |
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Mobile
No. : |
91-9811431188 |
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Name
: |
Dhiraj Gupta and Company |
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Designation
: |
Company Secretary |
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Address
: |
C-159A, Street No. 7, Bhajanpura, Delhi – 110053 |
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Tele.
No.: |
91-11-22564178 |
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Mobile
No.: |
91-9891157879 |
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E-Mail: |
MAJOR SHAREHOLDERS
|
Names
of Shareholders |
No. of Shares |
Percentage of Holding |
|
Mr. Baldev Kumar Gupta |
136,500 |
9.13 |
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Mrs. Arti Gupta |
119,100 |
7.96 |
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Mr. Pramod Verma |
500 |
0.03 |
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Mr. Ashok Sethi |
500 |
0.03 |
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Mr. Tarun Gupta |
28,500 |
1.91 |
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Ms. Anita Verma |
500 |
0.03 |
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Mr. Rajeev Kumar |
1,500 |
0.10 |
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Ms. Sunshila Saluja |
2,000 |
0.13 |
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Ms. Geeta Saluja |
2,000 |
0.13 |
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Ms. Anju Saluja |
2,000 |
0.13 |
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Ms Shalini Gupta |
11,000 |
0.74 |
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Mr. Praveen Gupta |
11,000 |
0.74 |
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Ms. Rashima Gupta |
25,000 |
1.67 |
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Mr. Prakash Wati |
22,500 |
1.50 |
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Mr. Chandan Sethi |
100 |
0.01 |
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Mr. Vikas Sethi |
100 |
0.01 |
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Mr. Vikas Mehta |
100 |
0.01 |
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Ms Suman Goel |
19,800 |
1.32 |
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Ms Roop Rani |
113,500 |
7.58 |
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Ms Riya Goel |
200 |
0.01 |
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At Alltime Yours Security Private Limited |
290,000 |
19.39 |
|
Shipa Housing Limited |
250,000 |
16.71 |
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Hajima Resorts Limited |
50,000 |
3.34 |
|
IKA Processors and Distributor Private Limited |
110,000 |
7.35 |
|
Veena Plastic Pipes Private Limited |
100,000 |
6.68 |
|
Junoon Capital Services Private Limited |
100,000 |
6.68 |
|
Reena Oil Industry Private Limited |
50,000 |
3.34 |
|
Instant Travels and Tours Private Limited |
50.000 |
3.34 |
|
Total |
1,496,400 |
100.0 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and exporter of all kinds of Saw Blades, Grinding Machines, Builders Hardware, Brass hardware, Electrical Switches and Ceramic Tiles |
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Products : |
Ø Cutting Tools,
Broaches & Cutters Ø Drill Machine Ø Impact Drill Machine Ø Angle Grinder Ø Chop Saw Ø Circular Saw Ø Jig Saw Variable Speed Ø Reutor Ø Marble Cutting
Blades Ø Electric Blower Ø Masonry HSS Drill Ø Cutting Tools,
Broaches and Cutters Ø Hand Tools Ø Steel Files Ø Saw Blades Ø Steel Strips Ø Cold Rolled Strips |
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Exports to : |
Subject reportedly exports saw blades, grinding machines, builder’s hardware, brass hardware, electrical switches and ceramic tiles to Africa, and USA |
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Imports from : |
Imports Hardware and Tools from China, Hong Kong and Taiwan and exports saw blades, grinding machines, builder’s hardware, brass hardware, electrical switches and ceramic tiles. |
GENERAL
INFORMATION
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No. of Employees : |
400 |
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Bankers : |
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Facilities : |
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Banking Relations : |
Unknown |
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Auditors : |
G S
Bansal and Company Chartered
Accountants 1915 Ramesh Market, Hamdard Marg,
Sirkiwalan, Delhi - 110006 |
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Tel. No.: |
91-11-26348204
/ 26341762 |
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Mobile No.: |
91-9811006688 |
CAPITAL STRUCTURE
Authorised
Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
1,500,000 |
Equity
Shares |
Rs 10/- each |
Rs 15.000 Millions |
Issued,
Subscribed & Paid-up Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
1,496,400 |
Equity
Shares |
Rs 10/- each |
Rs 14.964 Millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
ABRIDGED
BALANCE SHEET
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SOURCES OF FUNDS |
|
31.03.2005 |
31.03.2004 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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10.464 |
4.964 |
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2] Share Application Money |
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--- |
---- |
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3] Reserves & Surplus |
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0.954 |
0.626 |
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4] (Accumulated Losses) |
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---- |
--- |
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NETWORTH |
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11.418 |
5.590 |
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LOAN FUNDS |
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1] Secured Loans |
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11.830 |
8.215 |
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2] Unsecured Loans |
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0.825 |
0.652 |
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TOTAL BORROWING |
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12.655 |
8.867 |
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DEFERRED TAX LIABILITIES |
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0.031 |
0.014 |
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TOTAL |
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24.104 |
14.471 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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3.395 |
1.120 |
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Capital work-in-progress |
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---- |
---- |
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INVESTMENT |
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---- |
---- |
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DEFERREX TAX ASSETS |
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---- |
---- |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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10.917 |
10.499 |
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Sundry Debtors |
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12.951 |
11.390 |
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Cash & Bank Balances |
|
1.269 |
1.667 |
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Other Current Assets |
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---- |
---- |
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Loans & Advances |
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8.625 |
5.129 |
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Total Current Assets |
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33.762 |
28.685 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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13.133 |
15.343 |
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Total Current Liabilities |
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13.133 |
15.343 |
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Net Current Assets |
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20.629 |
13.342 |
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MISCELLANEOUS EXPENSES |
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0.080 |
0.009 |
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TOTAL |
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24.104 |
14.471 |
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PROFIT
& LOSS ACCOUNT
|
PARTICULARS |
|
31.03.2005 |
31.03.2004 |
|
Sales Turnover [including other income] |
|
108.759 |
115.361 |
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Profit/(Loss)
Before Tax |
|
0.606 |
0.508 |
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Provision
for Taxation |
|
0.252 |
0.182 |
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Profit/(Loss)
After Tax |
|
0.354 |
0.326 |
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Total
Expenditure |
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106.173 |
113.780 |
KEY
RATIOS
|
PARTICULARS |
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31.03.2005 |
31.03.2004 |
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PAT / Total Income |
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0.33 |
0.28 |
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Net
Profit Margin(PBT/Sales) |
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0.56 |
0.44 |
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Return
on Total Assets(PBT/Total Assets} |
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0.95 |
1.09 |
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Return
on Investment (ROI)(PBT/Networth) |
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3.10 |
5.83 |
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Debt
Equity Ratio(Total Liability/Networth) |
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1.11 |
1.59 |
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Current
Ratio |
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2.57 |
1.87 |
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Quick
Ratio |
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1.74 |
1.19 |
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Current
Liabilities / Networth |
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1.15 |
2.74 |
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Fixed
Asset / Networth |
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0.30 |
0.20 |
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Average
Collection Days |
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43.59 |
36.12 |
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Account
Receivables Turnover |
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8.37 |
10.10 |
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Inventory
Turnover |
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9.93 |
10.96 |
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Asset
Turnover |
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31.94 |
102.76 |
LOCAL AGENCY
FURTHER INFORMATION
Products / Services
Manufacturer
and Exporter of Steel strips, All kinds of Saw Blades for Wood Industries and
merchant export house of power tools, hand
tools, brass building, hardware, GP/GC sheets, coated and bonded,
abrasives, seamless / GI Tubes and pipes, electrical switches and agro
machinery.
TARUN ENTERPRISES PVT. LTD.
Tarun Enterprises uses revolutionary technology to meet all
your modern day needs of Saw Blades of any variety, size and shape.
Under the popular and established brand name "Tarun" the company
market, manufacture and export all kinds of Saw Blades, Grinding Machines,
Builders Hardware, Brass hardware, Electrical Switches and Ceramic Tiles from
India.
Quality, Reliability and Performance
"The company specialises in production of almost all varieties of saw
blades ranging from Band saw blades, Pitsaw blades, Handsaw blades, Crosscut
saw, Web saw, TCT circular saw, Diamond saw and Wood cutting circular saw
blades".
Tarun Enterprises is a noted merchant exporter of steel pipes and is one of the
largest manufacturers of hardened and tempered steel stripes. The company,
undoubtedly maintains strict quality parameters to deliver world class goods
which is surely the most important factor for jump in product demand.
The company draws its strengths from a sophisticated production plant with
stringent applied measures to ensure performance and reliability of products
leaving the production line. Under strict delivery schedules the company is
fully capable to deliver large volumes with no compromise in quality.
Products we deal in
- Saw Blades:
A) Band Saw Blades, Pitsaw, Handsaw, Crosscut Saw, Web Saw, TCT Circular Saw, Diamond Saws and Wood cutting saw blades
B) Hardened & Tempered steel strip (any sizes from 10 mm to 40.5 mm width and 0.20 mm to 3.5 mm thickness)
C) Cold rolled annealed strips (any size up to 425 mm in width and 4.00 mm in thickness) - Steel Files
- GPGC Files
- Flour grinding machines (flour
mills, rice mills, corn mills, rotary mills, rotary oil mills, graded CI
lasting mills)
- Stone crusher, pulverizers, iodized
salt machines and project machines
- Bonded and coated abrasives and
grinding wheels
- Hand tools & carpentry tools
- Power tools
- Building hardware and Brass Hardware
(tower bolt, hinges door handles, security locks, door locks)
- Electrical Switches (full range of
electrical switches)
- Ceramic tiles (for Flooring, Walls
and Bathroom)
- Sanitary Wares & bathroom
fittings
- Diesel engines and centrifugal pumps
- Rubber hose pipes , general pipes,
gardening pipe, suction pipes etc.
Company Profile
Business Type : Manufacturer ,
Exporter
Export Turnover :INR 30 crores
Import Turnover :INR 13 crores
Import Percentage :20%
Primary Competitive Advantages
:Quality products. Reliable & efficient services. Competitive prices.
Prompt & timely delivery of goods.
Sales Volume :INR 30 crores
Import Value :INR 13 crores
No of Staff :400
Year of Establishment :1996
No of Production Lines :3
Export Markets :Africa, Asia,
U.S.A
Import Markets :China, Hongkong,
Taiwan
Production Type :100% machinemade
Monthly Productio : Capacity
As per the requiremnt :Credit
Rated
Product Range : Saw Blades,
Grinding Machines, Builders Hardware, Brass hardware, Electrical Switches &
Ceramic Tiles from India.
Showroom
Product
Ø Cutting Tools,
Broaches & Cutters
Electric Power Tools
Ø
DRILL MACHINE
T-01
Ø
IMPACT DRILL MACHINE
T-02
Ø
IMPACT DRILL MACHINE
T-03
Ø
IMPACT DRILL MACHINE
T-04
Ø
ANGLE GRINDER
T-05
Ø
ANGLE GRINDER
T-06
Ø
CHOP SAW
T-09
Ø
CIRCULAR SAW
T-08
Ø
JIG SAW VARIABLE SPEED
T-07
Ø
REUTOR
T-10
Ø
MARBLE CUTTING BLADES
T-13
Ø
ELECTRIC BLOWER
T-11
Ø
MASONRY HSS DRILL
T-12
Cutting Tools, Broaches
& Cutters
Ø SAW
T-14
Ø SAW
T-15
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
|
Currency |
Unit
|
Indian Rupees |
|
US
Dollar |
1 |
Rs.44.23 |
|
UK
Pound |
1 |
Rs.86.91 |
|
Euro |
1 |
Rs.58.26 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
--- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
36 |
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
|
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 |
|
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 |
|
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 |
|
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 |
|
NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
|