MIRA
INFORM REPORT
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Report Date : |
24.07.2007 |
IDENTIFICATION DETAILS
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Name : |
EMPIRE TUBEWELLS PRIVATE LIMITED |
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Registered Office : |
Suite No. 30, B – 4, Kalkaji, |
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Country : |
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Financials (as on) : |
31.03.2004 |
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Date of Incorporation : |
17.03.1989 |
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Com. Reg. No.: |
55 – 35373 |
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CIN No.: [Company
Identification No.] |
U74210DL1989PTC035373 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELE02875F |
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PAN No.: [Permanent
Account No.] |
AAACE3632R |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturers of Tube Well Drillling, Pile Foundation and Rain Water
Harvesting. |
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 5208 |
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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 company having satisfactory track.
Directors are reported as experience and respectable businessmen. Trade
relations are reported as fair. Business is active. Payments are usually
correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
Suite No. 30, B – 4, Kalkaji, |
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Tel. No.: |
91-11-26422689 / 26477210 / 26467210 |
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Fax No.: |
91-11-26467210 |
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E-Mail : |
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Website : |
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Area : |
1000 sq. fts. |
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Location : |
Owned |
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Godown : |
Near Lgnou, |
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Area : |
200 sq. yards |
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Location : |
Owned |
DIRECTORS
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Name : |
Mr. A K Sharma |
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Designation : |
Director |
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Date of Birth/Age : |
42 Years |
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Qualification : |
Graduate |
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Experience : |
24 Years |
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Name : |
Mrs. Shashi Sharma |
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Designation : |
Director |
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Date of Birth/Age : |
42 Years |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
No. of Shares |
Percentage of
Holding |
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Mr. Ashok Kumar Sharma |
6600 |
66.00 |
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Ms Shashi Sharma |
3400 |
34.00 |
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Total |
10000 |
100 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers of Tube Well Drillling, Pile Foundation and Rain Water
Harvesting. |
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Products : |
Ø
Shower Pressure Booster
Pumps, Domestic Water Pressure Booster Pumps And Drainer Pumps Ø
Submersible Pumps Ø
Self Priming Mini Mono
Block Pumps Ø
Single Stage Centrifugal
Pumps Ø
Single Shower Pressure
Booster Pumps Ø
Domestic Water Pressure Booster
Pumps Ø
Drainer Pumps For Waste
Water Ø
Heavy-Duty Submersible
Sewage Pumps Ø
Home Booster Ø
Twin Booster Ø
Rain Water Harvesting Ø Pile Foundation Tube Well Drilling |
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Exports : |
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Products : |
Ø
Submerside Pumps Ø
Self Priming Mini Mono Block Pumps Ø
Single Stage Centrifugal Pumps Ø
Single Shower Pressure Booster Pumps Ø
Domestic Water Pressure Booster Pumps Ø
Drainer Pumps For Waste Water Ø
Heavy-Duty Submersible Sewage Pumps Ø
Home Booster Ø
Twin Booster Ø
Rain Water Harvesting Ø
Pile Foundation Ø
Tube Well Drilling Ø
Shower Pressure Booster
Pumps Ø
Domestic Water Pressure
Booster Pumps And Drainer Pumps Ø
Submersible Pumps Ø
Self Priming Mini Mono
Block Pumps Ø
Single Stage Centrifugal
Pumps Ø
Single Shower Pressure
Booster Pumps Ø
Domestic Water Pressure
Booster Pumps Ø
Drainer Pumps For Waste
Water Ø
Heavy-Duty Submersible
Sewage Pumps Ø
Home Booster Ø
Twin Booster Ø
Rain Water Harvesting Ø Pile Foundation Tube Well Drilling |
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Countries : |
Domestic market |
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Terms : |
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Selling : |
Cash / Credit (30 – 60 days) |
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Purchasing : |
Cash |
GENERAL INFORMATION
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Customers : |
Ø
Wholesalers Ø
Retailers Ø
Developers and Industrialists Ø
Unitech Group Ø
Ahluwalia Construction Limited Ø
Aman Resorts Private Limited Ø
Bridge And Roof Company ( Ø
Industrial Manufacturing Corporation Ø
Indian Oil Corporation Limited Ø
Jagan Nath International Ø
Kshi JV Ø
L And T Limited Ø
Logix Softel Privet Limited Ø
Haldiram Manufacturing Company Limited Ø
Canadian High Commission Ø
Munjal Auto Components Ø
Sai Techno Ø
Sonu Builders Ø
SSBOTMAC Engineers Private Limited Ø
Suri Ground Water Consultants Ø
Clarion Properties Limited Ø
CTC Geo Technical Private Limited Ø
Samak Lands Cape Limited Ø
Sanik Overseas Private Limited Ø
Vipul Infrastrure Private Limited Ø
Survi Projects Ø
UP Rajkiya Nirman Nigam Limited Ø
Valika Green Field |
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No. of Employees : |
35 |
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Bankers : |
Ø
ABN Amro Bank Ø
Punjab National Bank, Kalkaji Branch Ø
HDFC Bank, |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Kapahi Varma and Company Chartered Accountants |
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Address : |
2nd Floor, 5 Defence Colony Market, |
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Tel. No.: |
91-11-24333868 |
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Mobile No.: |
91-11-24333608 |
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Fax No.: |
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E-Mail : |
fajivkapahi @satyam.net.in |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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20000 |
Equity shares |
Rs. 10/- each |
Rs. 0.200 million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity shares |
Rs. 10/- each |
Rs. 0.100 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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60.000 |
55.000 |
Expected Sales (2008) : Rs. 60.000 millions
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2004 |
31.03.2003 |
31.02.2002 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.100 |
0.100 |
0.024 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
1.202 |
0.708 |
0.424 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
1.302 |
0.808 |
0.448 |
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LOAN FUNDS |
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1] Secured Loans |
0.075 |
0.259 |
0.000 |
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2] Unsecured Loans |
0.000 |
0.024 |
0.000 |
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TOTAL BORROWING |
0.075 |
0.283 |
0.000 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
1.377 |
1.091 |
0.448 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
1.230 |
1.226 |
0.608 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
0.654 |
0.705 |
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Sundry Debtors |
4.393 |
3.279 |
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Cash & Bank Balances |
0.277 |
0.142 |
4.084 |
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Other Current Assets |
0.000 |
0.000 |
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Loans & Advances |
3.733 |
2.149 |
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Total
Current Assets |
9.057 |
6.275 |
4.084
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
8.299 |
6.004 |
4.244 |
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Provisions |
0.611 |
0.406 |
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Total
Current Liabilities |
8.910 |
6.410 |
4.244
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Net Current Assets |
0.147 |
(0.135) |
(0.160)
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
1.377 |
1.091 |
0.448 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2005 |
31.03.2004 |
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Sales Turnover |
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42.286 |
24.673 |
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Other Income |
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0.104 |
0.178 |
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Total Income |
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42.390 |
24.851 |
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Profit/(Loss) Before Tax |
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0.757 |
0.355 |
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Provision for Taxation |
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0.264 |
0.155 |
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Profit/(Loss) After Tax |
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0.493 |
0.200 |
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Expenditures : |
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Cost of Goods Sold |
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Trading and operation expenses |
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37.255 |
21.887 |
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Administrative Expenses |
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3.988 |
2.482 |
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Increase/(Decrease) in Finished Goods |
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(0.051) |
0.187 |
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Depreciation & Amortization |
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0.280 |
0.268 |
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Total Expenditure |
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41.472 |
24.824 |
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KEY RATIOS
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PARTICULARS |
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31.03.2004 |
31.03.2003 |
31.03.2002 |
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PAT / Total Income |
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1.16 |
0.80 |
NA
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Net Profit Margin |
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2.08 |
1.62 |
NA
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Return On Total Assets |
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4.79 |
2.67 |
NA
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Return On Investment (ROI) |
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37.89 |
24.75 |
NA
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Current Ratio |
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1.02 |
0.98 |
0.96
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Quick Ratio |
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0.94 |
0.87 |
NA
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Debt Equity Ratio |
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0.06 |
0.35 |
9.47
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Current Liabilities / Networth |
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6.85 |
7.93 |
NA
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Fixed Asset / Networth |
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0.95 |
1.52 |
NA
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Average Collection Days |
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44.12 |
54.54 |
NA
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Account Receivables Turnover |
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8.27 |
6.69 |
NA
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Inventory Turnover |
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55.57 |
31.13 |
NA
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Asset Turnover |
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29.55 |
17.90 |
NA
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LOCAL AGENCY FURTHER INFORMATION
Trade Reference:
Ø
Grundfos Pumps India Private Limited
Ø
Posivtive Control Systems
Ø
RN Dubey And Company
Ø
Aqua Cure Engineers
Ø
AES Testing And Research Laboratories
Ø
Kapahi Varma And Company
Ø
KS Pump Works
Ø
Modern Waters Engineering Private Limited
Ø
BLF,
Ø
Unitech,
Ø
L and T,
Operation Details:
Incorporated on March 17, 1989 the subject is
engaged in the business of providing project execution services like Tube Well
Drilling Pile Foundation and Rain Water Harvesting.
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
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Indian Rupees |
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US Dollar |
1 |
Rs.40.30 |
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1 |
Rs.82.97 |
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Euro |
1 |
Rs.55.64 |
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 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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