MIRA
INFORM REPORT
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Report Date : |
28.07.2007 |
IDENTIFICATION DETAILS
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Name : |
ANAND INTERNATIONAL COMPANY |
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Registered Office : |
3H -31, NH – 3, NIT, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
February 2006 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturers of Sheet Metal Components for communication industries. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 4000 |
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Status : |
Small Concern |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively small concern and in the process of
establishing itself. Business is
looked after the father of the proprietress.
Trade relations are fair.
Business is active. Payments
are reported as usually correct and as per commitments. The concern can be considered for small business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
3H -31, NH – 3, NIT, |
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Tel. No.: |
91-129-6540759 / 4051391 |
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Mobile No.: |
91-9810295655 |
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Fax No.: |
91-129-2484280 |
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E-Mail : |
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Website : |
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Area : |
Owned |
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Location : |
80 Sq. yards |
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Factory : |
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Area : |
300 Sq. yards |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
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Designation : |
Proprietor |
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Date of Birth/Age : |
20 years |
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Qualification : |
Studying |
KEY EXECUTIVES
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Name : |
Mr. Vasdev Kukreja |
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Designation : |
Key Personnel |
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Mobile No.: |
91 -9810295655, 987385250, 9871112500 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers of Sheet Metal Components for communication industries. |
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Products: |
v
All types of Hose Clamps v
Sheet Metal Components v MS and Stainless Steel products |
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Exports : |
Negotiating |
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Terms : |
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Selling : |
Cash or Credit (60 days) |
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Purchasing : |
Cash or Credit (60 days) |
PRODUCTION STATUS
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Products |
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Actual
Production |
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Sheet Metal Components |
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As per Demand |
GENERAL INFORMATION
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Customers : |
v
Local Customers v
End Users |
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No. of Employees : |
45 (Office: 5; Factory: 40) |
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Bankers : |
Corporation Bank Sector 16, |
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Facilities : |
Credit Limit of Rs. 0.500 million |
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Banking Relations
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Satisfactory |
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Auditors : |
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Name : |
N. H. Gulia and Company Chartered Accountant |
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Address : |
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Associates/Subsidiaries : |
Nirmal Industries |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 1.000 million |
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Borrowed : |
- |
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Total : |
Rs. 1.000 million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
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Particulars |
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31.03.2007 |
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Sales Turnover |
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5.800 |
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Profit/Loss for the year |
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0.300 |
Expected Sales (2007-08): Rs. 10.000 millions
LOCAL AGENCY FURTHER INFORMATION
Trade References
Swaran Telecom,
Dovetins
Accurate Connecting
System,
Website details attached:
Subject is constant dedicated to cater high quality
M.N.T.R, Broach Machine, Tools and
Sheet Metal Components. They also manufacture high quality Hose
clamp in M.S. & S.S. material.
They are specialists in MNTR,
Broach Machine, and Tools & Sheet Metal Components. They manufacture
spring steel clips, spring hose clamps, retainers, tools and various other
Sheet Metal Components well integrated with welding, tapping, rubber, plastic
and riveting. They make use of the latest equipments and technology in order to
produce flawless range of Components. They broadly deal in all types of Hose
Clamps such as Metal conduit, Plastic Piping, Hoses etc. These are widely used in
Pulp Paper Industries, Mining, Mechanical and other Industrial Operations.
Their sheer dedication has enabled us to fetch an international
reputation. They have been in the business since 13 years and their specialized
products have been utilized by renowned OEM's. They have the capability and
expertise to develop and design the most established products. They exclusively
use the latest software application and Tools in their designing processes.
They also benefit from their team of Trained, Experienced Engineers and
Designers who continually monitor every step of production so that all the
components are made to customer's exact specifications.
Primary Competitive Advantages
Quality products
Competitive prices
Prompt 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 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. 40.48 |
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1 |
Rs. 82.59 |
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Euro |
1 |
Rs. 55.55 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
3 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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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 |
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27 |
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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