MIRA
INFORM REPORT
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Report Date : |
05.01.2007 |
IDENTIFICATION
DETAILS
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Name : |
SATNAM
SALES CORPORATION |
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Registered Office : |
313-72-L,
Anand Nagar, Inderlok, New Delhi – 110035 |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
1995 |
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TIN No.: |
07780186671 |
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Legal Form : |
Partnership
concern with an unlimited liability of the partners. |
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Line of Business : |
Importer,
Distributor and Supplier of Industrial Sewing Machines and Accessories |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD
20000 |
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Status : |
Satisfactory
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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 concern having satisfactory track. Partners
are reported as experienced and respectable businessmen. Trade relations are
reported as fair. Business is active. Payments are reported as usually
correct and as per commitments. The
concern can be considered normal for business dealings at usual trade terms
and conditions. |
LOCATIONS
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Registered Office : |
313-72-L,
Anand Nagar, Inderlok, New Delhi – 110035, India |
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Tel. No.: |
91-11-23656394
/ 65162259 / 23658465 / 55162259 / 25469813 |
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Mobile No.: |
91-9891092204
[Mr. Ranjit Singh] 91-9811071059
[Mr. Gobind Singh] |
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Fax No.: |
91-11-25469813 |
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E-Mail : |
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Website : |
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Area : |
3000
sq. ft. approx |
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Location : |
Owned
– Commercial |
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Warehouse
: |
313/15A,
Inderlok, New Delhi – 110035, India |
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Tel.
No.: |
91-11-25919413 |
PARTNERS
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Name : |
Mr.
Ranjit Singh |
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Designation : |
Managing
Partner |
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Address : |
10/25,
First Floor, J-Block, Rajouri Garden, New Delhi – 110027 Tel
No.: 91-11-25469813 |
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Date of Birth/Age : |
67
Years |
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Qualification : |
Graduate
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Experience : |
45
Years |
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Name : |
Mr.
Gobind Singh |
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Designation : |
Partner
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Address : |
10/25,
First Floor, J-Block, Rajouri Garden, New Delhi – 110027 Tel
No.: 91-11-25469813 |
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Date of Birth/Age : |
30
Years |
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Qualification : |
Graduate
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Experience : |
9
Years |
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He is looking after Imports Activities. |
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BUSINESS DETAILS
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Line of Business : |
Importer,
Distributor and Supplier of Industrial Sewing Machines and Accessories |
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Products : |
Industrial
Sewing Machines Lockstitch
and Sewing Equipment Top-Bottom
Feed Lockstitch Sewing Machines High
Speed Twin Needles Lockstitch Sewing Machines High
Speed Single Thread Chain Stitch Button Sewing Machines Big
and Small Tape Cutting Machines Top
Sewing Machines Automatic
Belt Loop Setter Twin
Needle Electronic
Buttonholer Pneumatic
Snap Button Machine Ergonomic
Stand Tiffany
Press Column
Steam Generator Vacuum
Heating Rectangular Ironing Table Vacuum
Heating Trimming Board Single
Head Serging Machines Automatic
Pocket Welt Unit Automatic
Pocket Welt |
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Imports from : |
Sewing
Machines and Accessories from China and Taiwan |
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Terms : |
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Selling : |
On CAD
and Credit : 30 days |
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Purchasing : |
On DP
Basis |
GENERAL
INFORMATION
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Customers : |
Orient
Craft Limited Pearl
Global Gokaldas Exports Orient
Clothing Richa
and Company TCNS |
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No. of Employees : |
20 |
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Bankers : |
State
Bank of India, Karol Bagh Branch, New Delhi State
Bank of Patiala Centurion
Bank of Punjab |
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Banking Relations : |
Satisfactory
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CAPITAL STRUCTURE
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Capital
Investment : |
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Owned : |
Rs.
4.500 Millions |
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Borrowed : |
-- |
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Total : |
Rs.
4.500 Millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
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Particulars |
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31.03.2006 |
31.03.2005 |
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Networth |
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4.500 |
3.625 |
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Sales Turnover |
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55.000 |
42.500 |
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Profit Before Tax |
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1.100 |
0.925 |
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Profit After Tax |
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0.875 |
0.850 |
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Import Value |
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44.000 |
31.875 |
The
Projected Turnover for the financial year ending March 31, 2007 shall be to the
tune of Rs. 60 Millions approx as claimed by the subject.
The
subject is a Non-Incorporated business entity and thus not obliged to file any
information on itself with any Official Authority [Registrar of Company] open
for public inspection. The above-mentioned information is obtained directly
from the subject itself.
KEY
RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
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1.59 |
2.00 |
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Net
Profit Margin (PBT/Sales) |
(%) |
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2.00 |
2.18 |
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Return
on Investment (ROI) (PBT/Networth) |
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19.44 |
23.45 |
LOCAL AGENCY
FURTHER INFORMATION
The
subject being a non-incorporated business entity, is not obliged to register
itself with any authority open to public inspection.
Trade Reference
Subject
is an Authorised Distributor for the following companies
- KINGSEW, China
- TAKING, China
- Daimoku
- KANSAI
Subject
does not export and supplies in the domestic market to garment manufacturers
and Wholesalers
The
subject is one of the leading suppliers of Industrial Sewing Machines in the
Northern India.
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
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Indian Rupees |
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US
Dollar |
1 |
Rs.44.30 |
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UK
Pound |
1 |
Rs.85.83 |
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Euro |
1 |
Rs.57.92 |
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 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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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 |
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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45 |
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/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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