MIRA
INFORM REPORT
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Report Date : |
10.01.2007 |
IDENTIFICATION
DETAILS
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Name : |
SHREE
ARIHANT LAMINATES |
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Registered Office : |
S-19,
USSIDC Complex, Industrial Area, Loni-201102, Uttar Pradesh |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
1997 |
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Legal Form : |
Sole
Proprietory Concern |
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Line of Business : |
Manufacturers
of Rubber and Adhesives |
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
10000 |
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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.
Proprietor is 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/ Factory : |
S-19,
USSIDC Complex, Industrial Area, Loni-201102, Uttar Pradesh, India |
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Tel. No.: |
91-11-65364727 |
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Mobile No.: |
91-9810014727/
9213900400 |
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Fax No.: |
91-120-2687576 |
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E-Mail : |
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Website : |
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Area : |
6000
Sq.ft. |
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Location : |
Owned |
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Branches
: |
K-278,
Karawal Nagar, Near Bus Terminal, Deklhi-110094, Delhi, India |
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Tel.
No.: |
91-11-22569973
/55364727 /2219 |
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Fax
No.: |
91-120-2687676 |
SOLE PROPRIETOR
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Name : |
Mr.
Shasikant Jain |
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Designation : |
Proprietor |
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Address : |
Darya
ganj, New Delhi |
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Date of Birth/Age : |
38
years |
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Qualification : |
Graduate |
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Experience : |
10
years |
BUSINESS DETAILS
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Line of Business : |
Manufacturers
of Rubber and Adhesives |
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Products : |
Self Adhesive Paper, Label Stock, Release Paper and Coated Paper |
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Exports to : |
Dubai |
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Imports from : |
Germany
and Italy |
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Terms : |
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Selling : |
L/C,
Cash and Credit (30 days) |
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Purchasing : |
L/C,
Cash, Credit (30 days) and Sight |
GENERAL
INFORMATION
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Customers : |
Manufacturers,
Wholesalers, Retailers and End Users |
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No. of Employees : |
25 |
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Bankers : |
State
Bank of India, Darya Ganj, New Delhi-110002 |
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Facilities : |
Credit
Limit : 1.600 millions |
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Banking Relations : |
Satisfactory |
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Auditors : |
Sanjay
& Rajiv Associates Chartered
Accountants, Delhi |
CAPITAL STRUCTURE
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Capital
Investment : |
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Owned : |
Rs.2.500
millions |
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Borrowed : |
-- |
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Total : |
Rs.2.500
millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
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Particulars |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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Sales Turnover |
67.500 |
60.000 |
158.000 |
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Profit/Loss for the year |
1.300 |
1.350 |
1.200 |
LOCAL AGENCY
FURTHER INFORMATION
Trade References :
- Prakash Labels Private
Limited, Noida
- Chem Papers Limited, Italy
Website Details :
Established in 1997,
Subject is one of the leading manufacturers of Label Stocks in Northern India.
The Firm has two units, one in Delhi and one in Loni (Uttar Pradesh).
Professionals in the respective fields manage the firm. The Units are equipped
with the latest machines and techniques having wide web and speedy coating
machines with deckle size up to 1020 mm. The Firm manufactures a wide range of
products required for Packaging and Printing industries like Label Stocks,
Silicon Coated Release Paper & other self adhesive material having variety
of Face and Base Paper and Films with water based Adhesive or Solvent base in
various sizes. The firm has developed Removable and High Tack (HT) label stock.
The quality of adhesive has very aggressive tack on wide variety of low energy
surface, good ageing performance with resistance to temperature and humidity
cycle. The firm has proper quality control system. The raw materials used by
the firm are Imported/ Indigenous and have high quality. The R&D staffs
regularly interact with customers to meet their requirements and to develop new
products. The firms have set a pace with the growing market in a short span of
time and have captured good volume of business especially in Northern India.
The firm is planning to spread its base in India and in Foreign Markets.
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.44.53 |
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UK
Pound |
1 |
Rs.86.24 |
|
Euro |
1 |
Rs.57.80 |
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 |
YES |
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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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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
|
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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