MIRA
INFORM REPORT
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Report Date : |
02.06.2007 |
IDENTIFICATION DETAILS
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Name : |
KUMAR INDUSTRIES |
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Registered Office : |
A- 98/1, Wazirpur Industries Area, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1997 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELK03586C |
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Legal Form : |
Partnership concern with an unlimited
liability of the partners |
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Line of Business : |
Manufacturer and Exporter of Stainless Steel Pet Products. |
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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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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Maximum Credit Limit : |
USD 60000 |
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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. Partners 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 concern can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
A- 98/1, Wazirpur Industries Area, |
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Tel. No.: |
91-11-42474201 / 02 / 03 |
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Fax No.: |
91-11-42472000 |
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E-Mail : |
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Website : |
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Area : |
360 Sq. mtrs. (3 Floors) |
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Location : |
Owned |
PARTNERS
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Name : |
Mr. Devender Kumar |
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Designation : |
Partner |
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Mobile No.: |
91-9818042701 |
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Date of Birth/Age : |
62 years |
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Qualification : |
Graduate |
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Experience : |
38 years |
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Name : |
Mr. Munit Kumar |
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Designation : |
Partner |
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Mobile No.: |
91-9810180139 |
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Date of Birth/Age : |
29 years |
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Qualification : |
Graduate |
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Experience : |
5 years |
KEY EXECUTIVES
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Name : |
Mr. S. Ram |
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Designation : |
Accountant |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Stainless Steel Pet Products. |
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Products : |
v
Non Tip Anti Skid Bowl v
Cat Dish v
Hamster Dish v
Coloured Pyramid Shape Bowl v
Anti Ant Dish v
Heavy Premium Bowl v
Cocker/ Poodle Non-tip Dish v
Kitty Cup v
Tall Double Diner Rack v
Heavy Dish with Removable Rubber Ring (Matt
Finish) |
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Exports to: |
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Terms : |
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Selling : |
L/C, D/A, and DP, Credit (30 days- 60 days) |
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Purchasing : |
Cash or Credit (30 days- 45 days) |
PRODUCTION STATUS
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Installed capacity, Actual production capacity to increase by 40% - 50 % |
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GENERAL INFORMATION
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Suppliers : |
Mangani Ree Rooling Mills Limited (Sheets) |
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Customers : |
Refuse to part the names of the customers. |
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No. of Employees : |
55 |
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Bankers : |
Citi Bank |
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Facilities : |
No Overdraft |
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Banking
Relations : |
Satisfactory |
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Memberships : |
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Engineering Export Promotion Council of v
Government Export House |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 15.000 millions |
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Borrowed : |
- |
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Total : |
Rs. 15.000 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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110.000 |
93.000 |
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Profit/Loss for the year |
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8 % |
NA |
Expected Sales (2007-08) : Rs. 130.000 million – 140.000 millions
LOCAL AGENCY FURTHER INFORMATION
Website details attached:
Pets play a significant role in keeping a home ambience
lively and it is equally important to use high quality pet products. Subject has created a benchmark
in the pet products industry as a renowned entity. They are a leading
manufacturer and exporter of Stainless
Steel Pet Products catering to the worldwide market since
1997. Their range of products include Non
Tip Anti Skid Bowl, Cat Dish, Hamster Dish, Coloured Pyramid Shape Bowl, Anti
Ant Dish, Heavy Premium Bowl, Cocker/Poodle Non-tip Dish, Kitty
Cup, Tall Double Diner Rack, Heavy Dish With Removable Rubber Ring (Matt
Finish), etc. Equipped with the best infrastructure and latest
technology, they have achieved maximum degree of customer satisfaction
resulting in world wide customer base. They are proud to be associated with top
pet industries around the world. Their unique blend of people, products
and packaging enables them to contribute in substantive ways to quality
and cost-effectiveness
They strive to provide the best to their customers, and
firmly believe in the principles of punctuality, quality and customer service.
Considering the quality conscious era, they have maintained high standards of
hygiene in all our products. Thereby, they take utmost care to supervise each
product before the final dispatch so that they are as per the specific
requirements of the customers. Today, they maintain a strong foothold in the
international market and are catering to the varied requirement of customers
scattered all over
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Commitment
- As they are
direct manufacturers and offer competitive prices, their in house production
process takes place under one roof at their manufacturing facilities under
the strictest quality control measures resulting in highest quality
stainless steel pet dishes available
- Because of
their use of only the highest quality raw material, their dishes have a
brilliant mirror finish
- Their
in-house tooling and designing technology enables them to produce a wide
range of innovative pet products and supply a broad range of unique
items.
Quality
Being an ISO 9001:2000 certified
company, quality has been the backbone of their company. Each
and every product undergoes several quality checks before they are delivered to
the customers. Their adherence to high quality standards has won them
confidence and loyalty of the quality conscious customers of the various
western and European countries. Their entire quality control staff is trained
to ensure efficiency, adeptness and competency. All the workshops are managed
individually by experienced technicians. Quality management and production
procedures are all conducted in accordance with international standards. Strict
quality control is carried out starting from the purchase of raw material to
all the production stages until final packaging
Infrastructure
Their sound infrastructure enables them to manufacture products both visually
attractive and customer-friendly on the cost front. They have a group of
highly skilled professionals with abilities that are specifically suited to
different items we make. The designs exhibited and the trendy looks make them
the first choice of the customers. The product-specific approach guarantees
individual attention raising the finish and quality of each kind of item. Their
spacious warehouse has the capability to store bulk amount of products as per
the changing requirements of the customers.
Primary Competitive Advantages
Impeccable quality, prompt delivery and competitive prices
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. 40.47 |
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1 |
Rs. 80.28 |
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Euro |
1 |
Rs. 54.43 |
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 |
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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