MIRA
INFORM REPORT
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Report Date : |
25.07.2007 |
IDENTIFICATION DETAILS
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Name : |
HARI |
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Registered Office : |
C/57, Shree Ram Nagar, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
15.11.1995 |
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Com. Reg. No.: |
GUJ-PVN/8121 |
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IEC No.: |
2406001547 |
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PAN No.: [Permanent
Account No.] |
AACFH4913K |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer of Magnesium Carbonate. |
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 : |
-- |
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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
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 : |
C/57, Shree Ram Nagar, |
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Tel. No.: |
91 - 278 – 3299837 |
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Mobile No.: |
91 9376709011 / 91 9227858001 |
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Fax No.: |
91 - 278 - 2563544 |
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E-Mail : |
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Website : |
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Area : |
500 Sq.ft. |
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Location : |
Owned |
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Factory 1 : |
Survey No.125, Block
No. 89, Plot No. 2, Near |
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Tel. No.: |
91 - 278 – 2883289/ 2783299837 |
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Fax No.: |
91-278-2563544 |
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E-Mail : |
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Area : |
86000 Sq.ft. |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Nitin G Kapadia |
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Designation : |
Proprietor |
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Address : |
C/58, Ramnagar, |
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Date of Birth/Age : |
31 years |
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Qualification : |
B.E. (Chemical) |
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Experience : |
10 years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Magnesium Carbonate. |
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Terms : |
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Selling : |
Credit (30 days) |
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Purchasing : |
Cash |
PRODUCTION STATUS
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Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
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Magnesium Carbonate |
MT |
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500 |
480 |
GENERAL INFORMATION
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Customers : |
v
Retailers v
End Users |
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No. of Employees : |
In Office :3, In Factory :8, Total : 11 |
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Bankers : |
HDFC Bank Limited, |
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Facilities : |
Current Account |
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Banking
Relations : |
Satisfactory |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Not Available |
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Borrowed : |
Not Available |
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Total : |
Not Available |
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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8.500 |
6.000 |
Expected Sales (2007-08) : Rs.9.000- 10.000 millions
LOCAL AGENCY FURTHER INFORMATION
Trade References :
Name : B. M. Savla & Company
Address : 26/55- Banshi Bhavan,
Contact Persons : Mr. Pankaj Savla
Tel. No.: 91-512-2312348
Mobile No.:91-93361046000
Name : Sati Dyes And Chemical
Address : 111- Tilak Bazar Chowk, Tilak Bazar, Delhi-6
Contact Person : Mr. Vijay Agarwall
Mobile No.: 91-9312251400
Name : Rajendra And Sunil Coal
Depot
Address : H/3/21- Shradha Deep Complex,
Contact Person : Mr. Chetan Patel
Tel. No.: 91-79-274758000
Name : Universal Chemicals
Address : 56/B, Anirudh Society, Near
Contact Persons : Mr. Harishbhai Patel
Tel, No.: 91-79-25758115
Mobile No.: 91-9825326802
Website Details :
They introduce them selves as one of the reputed manufacturer of
inorganic & fine chemicals since 1997.
Subject is a chemical manufacturing company based at
The company aims to be accepted and accessed Universally as a quality business
house and be accounted for its deals. It is a technology driven company
with modern thinking and flexible approach to changing markets and
requirements.
Their Company is distinctive in custom synthesis process innovations and
dependable for maintaining high standard of quality
They introduce them selves as one of the reputed manufacturer of
inorganic & fine chemicals since 1997. They are the leading manufacturer of
Light Basic Magnesium Carbonate.
Hari Om Chemicals is a chemical manufacturing company based at
Their Company is distinctive in custom synthesis, process innovations and
dependable for maintaining high standard of quality, underlying this success in
a effective blend of technical expertise, experience, infrastructure and
organizational strength and capabilities.
Product Specifications:
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Physical And Chemicals Properties |
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Chemical name : Light Basic Magnesium Carbonate |
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Chemical Formula : 4MgCO3. Mg(OH)2. 5H2O |
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NATURE |
Slightly alkaline |
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APPEARANCE |
White Amorphous Fine Powder |
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TASTE |
Test less |
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ODOR |
Odorless |
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PH |
9.0 + - 0.5 |
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BULK DENSITY LOOSE |
0.07 +- 0.01 gm/cm3 |
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BULK DENSITY PACK |
0.12 +- 0.01 gm/cm3 |
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CHLORIDE |
0.09% + -0.01 % |
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SULPHATE |
0.06% + -0.01 % |
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IRON |
0.004% + -0.01 % |
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CALCIUM |
0.2% + - 0.01 % |
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BICARBONATE |
Trace Amount |
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HEAVY METALS IMPURITIES |
Nil |
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SOLUBILITY |
Insoluble in water, 5% solution in dilute HCl is clear |
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LOSS ON IGNITION |
56% max. |
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CO2% |
34-36.3% |
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MgO% |
41.0% + -1 % |
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HYGROSCOPIC MOISTURE |
3 % + -1 % |
PACKING:
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Laminated HDPE Bag with PE Liner |
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BAG SIZE ........... 30" x 50" |
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NET WT ...............15/20 Kg. When Packed |
SALIENT FEATURES:
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1. Maximum whiteness |
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2. No dust particles |
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3. Too light in weight |
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4. Minimum moisture |
APPLICATIONS:
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Light Basic Magnesium Carbonate is widely used in following
applications: |
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Used in
flooring
Smoke suppressant in plastics |
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Fireproofing
Reinforcing agent in neoprene rubber |
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Fire extinguishing
compositions
Drying agent |
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Cosmetics
Laxative to loosen the bowels |
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Dusting
powder
Color retention in foods. |
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Toothpaste
As an antacid . |
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Filler
material
As an additive in table salt to keep it free flowing |
Management
The Company's management being sensitive to changing customer
requirement is very dynamic, flexible, and open to new ideas.
Customer deal with
direct senior management personnel who ensure quality responds in terms of
products and services. The company has a team of highly qualified and skilled
professionals, who are committed to excellence in terms of product
quality, productivity, cost - efficiency and delivery.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.40.34 |
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1 |
Rs.83.04 |
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Euro |
1 |
Rs.55.60 |
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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