MIRA INFORM REPORT
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Report Date : |
23.07.2007 |
IDENTIFICATION
DETAILS
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Name : |
MINOO
IMPEX |
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Registered Office : |
206,
Anand Jyoty, 41, Netaji Subhas Road, Kolkata – 700 001, West |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1987 |
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Legal Form : |
Sole
Proprietory Concern |
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Line of Business : |
Manufacturer
and Importer of Unique Measuring Instruments like Tachometers, Anemometers,
Infrared Thermometers, Coating Thickness Gauge and Durometers. |
RATING
& COMMENTS
|
MIRA’s Rating : |
Ba |
|
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
7500 |
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Status : |
Satisfactory
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Payment Behaviour : |
Usually
Correct |
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Litigation : |
Clear |
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Comments : |
Subject
is a well established concern having satisfactory track. Trade relations are
fair. General financial position is satisfactory. Payments are 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 : |
403,
Anand Jyoty, 41, Netaji Subhas Road, Kolkata – 700 001, West |
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Tel. No.: |
91-33-22309888 |
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Mobile No.: |
91-9831002880 |
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Fax No.: |
91-33-22309719 |
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E-Mail : |
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Area : |
220
sq. ft. |
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Location : |
Owned
– Commercial |
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Head
Office : |
403,
Anand Jyoty, 41, Netaji Subhas Road, Kolkata – 700 001, West |
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Tel.
No.: |
91-33-22309888 |
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Mobile No.: |
91-9831002880 |
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Fax
No.: |
91-33-22309719 |
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E-Mail
: |
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Area : |
220
sq. ft. |
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Location : |
Owned
– Commercial |
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Factory
: |
20,
Netaji Subhas Road, Kolkata – 700 001, West |
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Area : |
880
sq. ft. |
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Location : |
Rented
– Commercial |
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Warehouse
: |
20,
Netaji Subhas Road, Kolkata – 700 001, West |
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Area : |
880
sq. ft. |
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Location : |
Rented
– Commercial |
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SOLE
PROPRIETOR
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Name : |
Mr.
Yogesh Mehta |
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Designation : |
Sole
Proprietor |
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Address : |
403,
Anand Jyoty, 41, Netaji Subhas Road, Kolkata – 700 001, West |
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Date of Birth/Age : |
28.12.1958 |
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Qualification : |
B.
Com. |
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Experience : |
28
Years |
BUSINESS
DETAILS
|
Line of Business : |
Manufacturer
and Importer of Unique Measuring Instruments like Tachometers, Anemometers,
Infrared Thermometers, Coating Thickness Gauge and Durometers. |
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Products : |
Ø
Digital Hand Tachometers Ø
Digital Anemometers Ø
Infrared Thermometers Ø
Coating Thickness Gauge Ø
Digital Moisture Meters Ø
Digital Coating Thickness Gauges Ø
AC Motor Drives/Servo Drives Ø
Digital Durometers Ø
Oscilloscopes Ø
Quality Assurance |
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Brand Names : |
‘METRIX
+’ |
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Exports
: |
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Products : |
Ø
Digital Hand Tachometers Ø
Digital Anemometers Ø
Infrared Thermometers Ø
Coating Thickness Gauge Ø
Digital Moisture Meters Ø
Digital Coating Thickness Gauges Ø
AC Motor Drives/Servo Drives Ø
Digital Durometers Ø
Oscilloscopes Ø
Quality Assurance |
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Imports from : |
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Terms : |
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Selling : |
Cash
and Credit basis |
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Purchasing : |
Cash
and Credit basis |
GENERAL
INFORMATION
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Suppliers : |
Local
Marketers |
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Customers : |
Ø
Manufacturers Ø
Wholesalers Ø
Government Bodies Some
of its major customer includes: Ø
Indian Railways Ø
Steel Authority of India Limited Ø
Tata Motors Limited |
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No. of Employees : |
Around
7 |
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Bankers : |
State
Bank of Saurashtra Bhawanipore
Branch, Kolkata, West |
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Facilities: |
Credit
/ Cash Rs. 1.000 Million |
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Banking Relations : |
Satisfactory
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Auditors : |
Naresh
Jagannath and Company Chartered
Accountants |
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Address : |
71, |
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Affiliates : |
Metrix
Plus Instruments Inc |
CAPITAL
STRUCTURE
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Capital
Investment : |
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Owned : |
Rs.
1.500 millions (Estimated) |
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Borrowed : |
Nil |
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Total : |
Rs.
1.500 millions (Estimated) |
FINANCIAL
DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2007 |
31.03.2006 |
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Sales Turnover |
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15.000 |
10.000 |
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Expected
Sales (2008) : Rs. 15.000 – 17.500 millions
LOCAL
AGENCY FURTHER INFORMATION
Profile
Subject is the manufacturer
and importer of unique measuring instruments like Tachometers, Anemometers, Infrared Thermometers, Coating Thickness Gauge
and Durometers of high quality and in various designs catering to the
end consumers with the best. Since beginning, they have laid emphasis on
quality, which has further enabled them to carve a niche of excellence in their
domain of expertise. Their core competency in the related sphere of the
industrial activity has kept them ahead of others. They strongly believe in
ethical aspects of business relationship with the customers and constantly
endeavor to gain their maximum trust and confidence. With their high quality
products and services, they have always been upto the expectation of their
esteemed customers.
Their company is the
leading manufacturer of entire range of Digital
Instruments Compact Tachometers, Anemometers, Moisture Meters, Sound Level
Meters, Thermometers, Infrared Thermometers, Lux Meters, Oscilloscopes, Digital
Multimeter, Clamp Meter, Distance Measuring, Coating Thickness Gauge,
Insulation Resistance Testers and Durometers. Their company has grown
manifolds over the years with strong commitment towards quality and customers.
In a short span of time, they have earned immense recognition in the domestic
as well as global market. They keep a close watch on the dynamic market trend
and supply products accordingly. They keep updating the quality standards of their
entire range of products so that they always remain in the forefront.
Their commitment to
excellence and quality has shown them the way to growth. Their aim is to
deliver an unparalleled level of quality with complete customer satisfaction in
mind. Quality is continuously nurtured at every stage of manufacturing. From
conception to the final delivery, every product undergoes several quality
tests. Their team of experts maintain a strict vigil in the manufacturing
process to ensure that all the measuring instruments are without defects.
Infrastructure
Their facilities form
the backbone of their company. With advanced technical and measuring
instruments, they have reached international level. Their endeavor is focused
on keeping ourselves up-to-date with the latest technologies. They possess a
team of professionals who come out with the high quality products. All the
manufacturing and processing is done under the guidance of their engineers and
motivated workforce towards ensuring defect free products.
CMT
REPORT [Corruption,
Money laundering & Terrorism]
The
Public Notice information has been collected from various sources including but
not limited to: The Courts,
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.40.33 |
|
|
1 |
Rs.82.63 |
|
Euro |
1 |
Rs.55.65 |
SCORE
& RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
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 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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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 |
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 |
|
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 |
|
|
>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 |
|
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 |
|
NR |
In
view of the lack of information, we have no basis upon which to recommend
credit dealings |
No Rating |
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