MIRA
INFORM REPORT
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Report Date : |
23.07.2007 |
IDENTIFICATION DETAILS
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Name : |
SIDDHI CHEM |
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Registered Office : |
5 / 222, J. |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1982 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Trader and Importer of Pharma Chemicals. |
RATING & COMMENTS
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MIRAs 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
businessman. Trade relations are reported
as fair. Business is active. 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 : |
5 / 222, J. |
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Tel. No.: |
91 22- 2410 0854 / 2411 2430 |
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Fax No.: |
91 22- 2415 0326 |
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E-Mail : |
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Area : |
200 Sq. fts. |
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Location : |
Owned |
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Warehouse: |
Ghandi Patel Compound No. 12, Bhiwandi 421 302, |
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Tel. No.: |
91 22- 2410 0854 |
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Area : |
1650 Sq. fts. |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Sharad Dedhia |
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Designation : |
Proprietor |
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Date of Birth/Age : |
49 years |
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Qualification : |
B. Sc. Graduate |
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Experience : |
25 years |
BUSINESS DETAILS
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Line of Business : |
Trader and Importer of Pharma Chemicals. |
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Products : |
v
1 Bromo 3 Chloropropane ( v
Citric Acid Mono ( v
Cyclohexanol ( v
Dicyndiamide ( v
DiMethyl Aminoethanol (German) (108 01 0) v
Diethyl Aminoethanol (German) CAS No. (100 37
8) v
Di Isopropanolamine ( v
Ethyl Bromide ( v
Monoisopropanolamine ( |
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Imports : |
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Products : |
Raw materials |
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Countries : |
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Terms : |
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Selling : |
Credit (60 days 90 days) |
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Purchasing : |
L/C, Cash or Credit 960 days 90 days) |
GENERAL INFORMATION
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Customers : |
End Users |
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No. of Employees : |
4 |
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Bankers : |
Bank of Parel Branch, Mumbai, |
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Facilities : |
CC: Rs. 1.500 millions LC: Rs. 5.000 millions |
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Banking
Relations : |
Satisfactory |
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Memberships : |
v
Merchant Chamber v
Chemexcil v
Chemical and Alkli Merchant Association |
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 |
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31.03.2007 |
31.03.2006 |
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Sales Turnover |
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30.000 |
40.000 |
Expected Sales (2007-08) : Rs. 35.000 millions
LOCAL AGENCY FURTHER INFORMATION
Trade References
Clariant India
Limited
Hansmen
International Private Limited,
Ion Exchange India
Limited
Website details attached:
Profile
A professionally managed company, subject is a distinguished
organization engaged in the importing and supplying of leather chemicals,
textile chemicals.
» 1
Bromo 3 Chloropropane (Japan)
» Citric Acid-Mono (China)
» Cyclohexanol (USA)
» Dicyndiamide (China) (461-58-5)
» DiMethyl Aminoethanol (German) (108-01-0)
» Diethyl Aminoethanol ( German )
CAS No: ( 100-37-8 )
» Di Isopropanolamine ( China )
» Ethyl Bromide (China)
» Monoisopropanolamine (China) (78-96-6)
Overview
They introduce theirselves as one of the renowned importers and
suppliers of quality Textile Chemicals, Leather Chemicals, Chemicals used in
drugs or medicines intermediates. Company started in 1982. They are the members
of Indian Merchant Chamber, Chemexcil,
Chemical and Alkli Merchant Association. Their mission is simply
to serve their customers' every need by offering quality products and world
class service. Based on relatively simplistic technology and a rudimentary
understanding of sourcing, they offer quality products at competitive prices to
their clients. They are making indefatigable efforts to improve the quality of
their products and maximize their customers' satisfaction.
Subject has earned a remarkable position in the domestic as well as in the
International market because of good quality, quick services and by offering a
wide range to meet individual needs and requirements.
Quality
Their dedicated, devoted & customer-oriented workforce prides itself on
offering their valuable customers an unparalleled combination of quality and
performance. They have never let their valuable customers down on service and
quality. They have successfully achieved a high level of customer appreciation
resulting in long-standing relations.
Infrastructure
Their spacious warehouse has the capacity to store large quantities of
products. They possess a team of experts who are sourcing products of
international standard to keep abreast with the global markets. They also offer
speedy and efficient transportation facilities which help them to deliver
products within the stipulated time. They have a sound infrastructure. They
source finest quality products for the benefits of their clients.
Clients
They owe their success to the support of their clients. They have a trustworthy
and satisfying client base which is spread all over the globe.
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 Intl
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 companys 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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs. 4033 |
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1 |
Rs. 82.63 |
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Euro |
1 |
Rs. 55.65 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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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 |
6 |
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--LEVERAGE |
1~10 |
6 |
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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 |
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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48 |
This score serves as a reference to assess SCs 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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