MIRA
INFORM REPORT
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Report Date : |
29.05.2007 |
IDENTIFICATION DETAILS
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Name : |
STAAN BIOMED ENGINEERING PRIVATE LIMITED |
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Registered Office : |
190-A, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
10.07.2003 |
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Com. Reg. No.: |
18-10665 |
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CIN No.: [Company
Identification No.] |
U51507TZ2003PTC010665 |
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TAN No.: [Tax Deduction & Collection Account No.] |
CMBS09494C |
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PAN No.: [Permanent Account No.] |
AAICS8026R |
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Legal Form : |
Private Limited Liability Company
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Line of Business : |
Manufacturer and Exporter of Surgical Tables, Surgical Instruments and
Implants |
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 2000 |
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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 experienced 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/ Corporate Office/ Factory : |
190-A, |
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Tel. No.: |
91-422-2533806/ 2531008 |
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Mobile No.: |
91-9363121030/ 91-9842219018 |
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Fax No.: |
91-422-2533806 |
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Area : |
2500 Sq.ft. (Owned) |
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Head Office : |
213 LGB Complex, Big |
DIRECTORS
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Name : |
Mr. Maria Albert Stanly |
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Designation : |
Managing Director |
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Address : |
20/136, Swamiar New Street, Fort-691001, |
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Age : |
35 years |
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Qualification : |
MBA |
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Experience : |
10 years |
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Name : |
Mr. A Sahayaraj |
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Designation : |
Director |
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Address : |
20/136, Swamiar New Street, Fort-691001, |
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Age : |
44 years |
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Qualification : |
BE |
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Experience : |
10 years |
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Name : |
Mr. M AntonyArmstrpmg |
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Designation : |
Director |
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Address : |
20/136, Swamiar New Street, Fort-691001, |
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Age : |
31 years |
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Qualification : |
B Sc |
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Experience : |
7 years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Surgical Tables, Surgical Instruments and
Implants |
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Products : |
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Exports : |
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Products : |
Surgical Tables and Instruments |
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Countries : |
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Terms : |
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Selling : |
Credit (30 days) and LC |
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Purchasing : |
Credit (30 days) |
PRODUCTION STATUS
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Particulars |
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Actual
Production |
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Surgery Table Instruments Implants |
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90 % of Capacity |
GENERAL INFORMATION
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No. of Employees : |
About 60 (In Office : 30, In Factory : 30) |
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Bankers : |
The Catholic Syrian Bank, SSI Branch, Ganapathy |
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Facilities : |
Cash Credit |
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Banking Reputation : |
Satisfactory |
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Auditors : |
Ramanathan & Company Chartered Accountants |
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Address : |
20, Chiwna Subbanna Gounder Layout, Sai Baba Colony, Coimbatore-641011 |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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100000 |
Equity Shares |
Rs.10/- each |
Rs. 1.000 million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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50000 |
Equity Shares |
Rs.10/- each |
Rs. 0.500 million
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.500 |
0.500 |
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2] Share Advance |
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0.000 |
0.085 |
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3] Reserves & Surplus |
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0.064 |
0.045 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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0.564 |
0.630 |
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LOAN FUNDS |
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1] Secured Loans |
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0.116 |
2.852 |
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2] Unsecured Loans |
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0.000 |
0.000 |
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TOTAL BORROWING |
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0.116 |
2.852 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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0.680 |
3.482 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.705 |
0.467 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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0.000 |
0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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6.048 |
0.000 |
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Sundry Debtors |
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1.476 |
0.000 |
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Cash & Bank Balances |
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0.057 |
1.055 |
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Other Current Assets |
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0.041 |
5.399 |
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Loans & Advances |
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0.420 |
0.000 |
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Total
Current Assets |
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8.042 |
6.454 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
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7.900 |
3.284 |
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Provisions |
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0.167 |
0.155 |
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Total
Current Liabilities |
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8.067 |
3.439 |
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Net Current Assets |
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(0.025) |
3.015 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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0.680 |
3.482 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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Sales Turnover |
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8.188 |
7.845 |
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Other Income |
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0.000 |
0.047 |
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Total Income |
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8.188 |
7.847 |
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Profit/(Loss) Before Tax |
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0.068 |
0.123 |
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Provision for Taxation |
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0.049 |
0.021 |
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Profit/(Loss) After Tax |
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0.019 |
0.102 |
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Total Earnings |
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USD
0.046 |
0.000 |
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Expenditures : |
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Administrative Expenses |
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0.756 |
0.804 |
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Raw Material Consumed |
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2.552 |
2.464 |
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Salaries, Wages, Bonus, etc. |
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1.571 |
1.549 |
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Managerial Remuneration |
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0.210 |
0.150 |
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Depreciation & Amortization |
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0.143 |
0.043 |
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Other Expenditure |
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2.888 |
2.758 |
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Total Expenditure |
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8.120 |
7.768 |
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KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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PAT / Total
Income |
(%) |
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0.23 |
1.30 |
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Net Profit Margin (PBT/Sales) |
(%) |
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0.83 |
1.57 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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0.78 |
1.78 |
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Return on Investment (ROI) (PBT/Networth) |
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0.12 |
0.19 |
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Debt Equity Ratio (Total Liability/Networth) |
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14.51 |
9.98 |
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Current Ratio (Current Asset/Current Liability) |
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0.99 |
1.88 |
LOCAL AGENCY FURTHER INFORMATION
As per Web:
Established in the
year 2003, they started with a vision to supply impeccable quality surgical
equipments to a wide spectrum of customers. Today, within two years of their
establishment, they have convinced their performance to the worldwide customers
and entrenched themselves as the most competitive manufacturer and exporter of Surgical Tables, Surgical Instruments and
Implants. They have
secured a position of reliability and prominence in domestic as well as
overseas markets. They comprises of a world-class infrastructure and all the
testing facilities to ensure that the best quality products are provided to the
customers. Their products are unique in nature and are preferred by worldwide
surgeons. Their products find their application in the field of Orthopedic, Urology, Gynecology,
Gastroenterology, Vascular Surgery, Spine Surgery, Laproscopy, Cardiothoracic
etc.
They offer a wide range of Surgical
Tables, Surgical Instruments and Implants as per the specific requirements of the
customers. Remote Control Operating, C-Arm Compatible made of pure stainless
steel products are their specialty. They also provide special attachment like
May Field, Lyela Retractor, Femur in Lateral Position, Finger Traction as per
the demand of the customers.
Quality
Quality is paramount to them and they always believe in delivering premium
quality products at affordable rates to their worldwide customers. They have a
stringent quality system adhering to international quality standards and quality
management team to supervise each and every manufacturing stage. Their products
are made from the superior quality raw materials which are sourced from the
reputed and well established suppliers and distributors thus ensuring flawless
manufacturing process. Their first and the foremost concern is to provide their
clients with the best in terms of quality and durability at industry
leading prices. They constantly invest in the technological up-gradation to
remain abreast with the changing trends. Their technologically advanced R&D
department works round the clock to enhance and develop their product range in
order to cope up with the international pressures. They have a wide network of
suppliers, distributors and marketing personnels scattered all over the globe
to ensure the customers of smooth and prompt deliveries.
Customers
Over the years, they have established a delighted customer base across the
national and international market arena which helps them to become the most
reputed manufacturer and exporter of Surgical Tables, Surgical Instruments and Implants. Their high reputation in the market
constantly facilitates client expansion and today, they are exporting their
products to the markets of
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.40.54 |
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1 |
Rs.80.21 |
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Euro |
1 |
Rs.54.51 |
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 |
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 |
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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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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