MIRA
INFORM REPORT
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Report Date : |
24.07.2007 |
IDENTIFICATION DETAILS
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Name : |
M B PLASTIC INDUSTRIES |
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Registered Office : |
Plot No.C-31, Sector 4, Noida- 201301, Uttar Pradesh |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Year of Establishment : |
1986 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturers and Exporters of Plastic Moulded Components specially for
Medical, Auto and Other Industries. |
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 6000 |
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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/ Factory : |
Plot No.C-31, Sector 4, Noida- 201301, |
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Tel. No.: |
91-120-2527442 |
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Mobile No.: |
91-9899010640 |
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Fax No.: |
91-120-2527442 |
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E-Mail : |
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Website : |
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Area : |
500 Sq.yds. |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mrs. Beena Jain (Actually her son Mr. Varun Jain is looking after the business) |
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Designation : |
Proprietrix |
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Date of Birth/Age : |
58 years |
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Qualification : |
Graduate |
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Experience : |
17 years |
KEY EXECUTIVES
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Name : |
Mr. Varun Jain |
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Designation : |
General Manager |
BUSINESS DETAILS
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Line of Business : |
Manufacturers and Exporters of Plastic Moulded Components specially
for Medical, Auto and Other Industries. |
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Products : |
v Electrical and Electronics- MCB Covers, Floppy Covers, Bobbins, Torches, Switch Panels, etc v Automotive- Tail Lights, Cap Seals, Switches, Connectors, Bushes, etc v Medical- Syringe Holders, Blood Transfusion Funnels, Intraocular Lens Cases, etc. |
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Exports : |
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Products : |
Plastic Moulded Components |
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Countries : |
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Terms : |
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Selling : |
L/C, Cash Credit |
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Purchasing : |
L/C, Cash, Credit (60 days) and Sight |
PRODUCTION STATUS
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Particulars |
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Actual
Production |
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Plastic Moulded Components |
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As per demand |
GENERAL INFORMATION
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Customers : |
Local customers and End users v
Biotech Vision Care v
I.O. Care v
v
DWM v
International Medical Devices (Private)
Limited (IMD) v
Jagatjit Industries Limited (JIL) |
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No. of Employees : |
In Office : 5, In Factory : 15 |
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Bankers : |
Punjab National Bank, Alaknanda, New Delhi-110019 |
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Banking Relations
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Satisfactory |
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Auditors : |
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Name : |
Suresh & Associates Chartered Accountants |
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Address : |
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CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.1.500 millions |
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Borrowed : |
-- |
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Total : |
Rs.1.500 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
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Particulars |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
8.700 |
8.400 |
8.000 |
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Profit/Loss for the year |
0.750 |
0.650 |
0.500 |
LOCAL AGENCY FURTHER INFORMATION
Trade References :
v
U.S. IOL Inc.
v
IO Care
v
Jagjit Industries Limited
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Biotech Vision Care
Website Details :
Company Profile:
Subject was established in the year 1986 by a lady entrepreneurer. Starting from
small job works, it now entitles upon itself, the responsibility of catering to
the vasts needs of the major medical and automotive sector in and around
As one of the leading companies, they provide their services all over
The manufacturing facilities available in their organization include the best
of the moulding machines from
As an industry serving their esteemed customers for over three
decades, it's their continous endeavor to give them the best. They, at Subject
undertake the task from the designing of the plastic product, carried by the
development of tool/mould and finally by putting the part into the production
cycle. They are self sufficient organization, supporting all the facilities and
tasks on an in house basis. 
Their Field of
Operations:
Medical Sector- Ophthalmic surgical, disposables, cannulas,
medical catheter, syringe holders, intraocular lens case, kidney trays,
catheters, etc
Automobile Sector- Capseals, bushes, tail lights,
connectors, handles, switches, lamps, mirror casing, gears, etc
Household Sector- Tray drain, pulsators, door handles,
washing machine parts, etc
They Commit:
At Subject, they commit themselves to providing their
customers with quality products. To upkeep their this commitment of quality and
total customer satisfaction, they implement the 4P model into their process.
At Subject, they undertake the production process within a
dust free environment while guaranteeing 0% use of silicon in their medical
products. Their well qualified, quality conscious personnel make sure that
quality is incorporated into the products from its most basic level.
At Subject, they are commited to listen to their customers
with patience and to utilize the valuable feedback given by them to enhance
their manufacturing credibility.
Subject is an ISO 9001:2000 Certified Company
Integrating technical expertise
with innovation, they, "Subject" have acquired a reputed position in the world of trade. As an
ISO 9001:2000 certified entity, they provide quick response time to the buyers
along with follow of stringent quality control measures ensuring complete buyer
satisfaction in terms of quality, cost-competency and prompt product
deliveries. They, established in the year 1986, are an unmatched manufacturer,
exporter and supplier of MCB
Covers, Floppy Covers, Bobbins, Tail Lights, Cap Seals, Switches, Connectors,
Bushes, Syringe Holders, Intraocular Lens case, Blood Transfusion Funnels, etc.
Product design and
development form the most crucial aspect of any component and they take special
care in this regard. Walking on the lines of technology, they have constantly
adopted various technical changes and have emerged as a prominent entity by
manufacturing and exporting impeccable quality products. They are a name to
reckon with, in terms of having wide research and production facilities,
catering to most of the electrical, automotive and medical industries.
They are also
exporting their products to
Their Products
Their reputation is based on
quality, reliability, integrity, and complete understanding of the market
dynamics. They offer a wide and comprehensive range of products, which
includes:
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Electrical and Electronics- MCB Covers, Floppy Covers, Bobbins, Torches,
Switch Panels, etc
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Automotive- Tail Lights, Cap Seals, Switches, Connectors, Bushes, etc
v
Medical-
Syringe Holders, Blood Transfusion Funnels, Intraocular Lens Cases, etc.
Their Quality
Capitalizing on the factors of
growth and diversification in accordance with the highest quality standards,
they have become a dominant player in the Indian market. To offer impeccable
quality products, they have adopted several quality control procedures adhering
to the global standards. Their team of quality conscious professionals keenly
monitors each and very production stage to ensure a flawless manufacturing
process. All the products thus, manufactured are subjected to various tests in
order to monitor and enhance their performance and efficiency. The range of
materials processed by them includes a wide variety of plastic polymers which
include ABS, Nylon, Poly propylene, Polyethylene, PBT, Acrylic, SAN, TPE, etc.
Their Infrastructure
They, at Subject undertake the task from the designing of the plastic product,
carried by the development of tool/mould and finally by putting the part into
the production cycle. They owe their success to their sound infrastructural
setup. Comprising of a fully integrated manufacturing unit and contemporary
technology, they possess a state-of-the-art tool room to manufacture world
class products. The manufacturing facilities available in their organization
include Windsor and Ferromatic Milacron (CNC) Injection Moulding
Machines with Hopper Dryers, Dehumidifier, Color Mixer, Cutter, Grinder and
Basic Tooling Facilities with round the clock power backup system. All these machineries are manned by an
experienced staff of supervisors and personnel to deliver you the best
products. Their voluminous warehouse has always been the pillar of their
success with the capability to store and execute bulk amount of products as per
changing requirements of the customers
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Superior,
durable and cost effective range of products
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Experienced,
professional and creative team, comprising of some of the best people in the
industry
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Efficient
supply chain to ensure timely delivery of the consignment
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Cutting
edge technology, modernized machinery and all the latest facilities
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Keeping
in tune with the latest manufacturing techniques in the related field
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Work in
close coordination with their esteemed customers
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Prompt
deliveries and customer satisfaction - their top priority.
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.40.24 |
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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 |
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 |
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 |
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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48 |
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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