MIRA
INFORM REPORT
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Report Date : |
04.06.2007 |
IDENTIFICATION DETAILS
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Name : |
SAMSOFT TECHNO ENGINEERS |
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Registered Office : |
184 / 4, Gali Bandook Wali, Opp Masjid Ajmeri Gate, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
2001 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacture, Trader of all types of Stainless Steel, Non Ferrous
Metals and Alloy Steel. |
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 20000 |
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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 businessman. 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 : |
184 / 4, Gali Bandook Wali, Opp Masjid Ajmeri Gate, |
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Tel. No.: |
91-11-23221881 / 30910078 / 23221880 |
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Mobile No.: |
91-9212116322 (Mr. Sumit Goel) |
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Fax No.: |
91-11-23221880 |
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E-Mail : |
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Website : |
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Area : |
150sq.fts |
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Location : |
Rented |
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SOLE PROPRIETOR
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Name : |
Mr. Sumit Goel |
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Designation : |
Proprietor |
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Date of Birth/Age : |
25 Years |
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Qualification : |
MBA |
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Experience : |
12 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacture, Trader of all types of Stainless Steel, Non Ferrous
Metals and Alloy Steel |
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Products : |
§
Stainless Steel: Sheets, Plates,
Tubes, Pipes, Rods, Wires, Strips and Pipe Fittings like Ball Valves, Elbow,
Bends, Stubend, Tees, Flanges, Reducer, Bolt and Nuts, Screws, etc. in the
grade of AISI 304, 304L, 316L, 310, 321, 410, 420, etc. §
Non Ferrous Metals: Copper, Brass,
Aluminium, Phosphorus, Gun Metal, Lead, Zinc, Tin Metal, Nickel, Monel,
Inconel, Hastelloy in all shapes and sizes, copper tubes refrigeration of 50'
and 100' coils in various sizes §
Alloy Steel: HSS Manganese Strips in
all shapes, EN-8,9, 24, 31, 36, 45, 20 Mn-Cr5, etc. |
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Terms : |
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Selling : |
Terms Export: L/C, D/A and DP Local Sales: Cash or 30 days credit |
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Purchasing : |
Advance, Cash or 30 days Credit |
GENERAL INFORMATION
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Customers : |
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No. of Employees : |
8 |
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Bankers : |
State Bank of Suaasth Vihar, Oriental Bank of Commerce, Vasant Vihar, |
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Banking Relations
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Satisfactory |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.5.000 millions |
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Borrowed : |
- |
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Total : |
Rs.5.000 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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40.000 |
32.500 |
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Gross Profit |
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12% |
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Profit After Tax |
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8% |
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Expected Sales (2007-08) : Rs.50.000 millions
LOCAL AGENCY FURTHER INFORMATION
Company Details:
Stainless steel and its alloy find immense application both
in the domestic and industrial sphere right from water taps to the industrial
pipe, pipe fittings, valves, sheets and plates. Samsoft Techno Engineers
caters to this sphere, focussing on the primary needs with a commitment of
delivering optimum satisfaction. They are a prominent manufacturer,
stockist and project supplier and trader of
all types of stainless steel, non ferrous metals and alloy steel.
Stainless steel includes tubes, pipes, rods, ball valves,
elbow, bends, stubend, tees, flanges, reducer, bolt and nuts, screws, etc. Their
range of non ferrous metals include lead, zinc, tin metal, nickel, monel,
etc. A range of manganese strips fall
under the category of alloy steel.
They cater all requirements of their prestigious clients in
all aspects of project implementation, maintenance, expansion, modernization,
shutdown application, etc. Their company has supplied its products to many
prestigious projects in Paper, Textile, Sugar, Chemicals, Petrochemicals,
Pharmaceuticals, Power Plant, Food Industries, Dairies, Breweries and other
engineering concerns. They believe in optimizing their output through synergy.
They, at Samsoft Techno Engineers, offer a plethora of products
for domestic and industrial sectors like:
- Stainless Steel: Sheets,
Plates, Tubes, Pipes, Rods, Wires, Strips and Pipe Fittings like Ball
Valves, Elbow, Bends, Stubend, Tees, Flanges, Reducer, Bolt and Nuts,
Screws, etc. in the grade of AISI 304, 304L, 316L, 310, 321, 410, 420,
etc.
- Non Ferrous Metals: Copper,
Brass, Aluminium, Phosphorus, Gun Metal, Lead, Zinc, Tin Metal, Nickel,
Monel, Inconel, Hastelloy in all shapes and sizes, copper tubes
refrigeration of 50' and 100' coils in various sizes
- Alloy Steel: HSS Manganese
Strips in all shapes, EN-8,9, 24, 31, 36, 45, 20 Mn-Cr5, etc.
Quality
Motto
Their main focus lies on the primary needs of their consumer in
order to deliver maximum satisfaction through products and services at the most
competitive prices. They believe in making ever-lasting business partnership
through their dedication and commitment towards customer satisfaction. They
welcome feedback and suggestions from their valued customers for continuous
improvement of their products.
Infrastructure
Samsoft Techno Engineers is a perfect amalgam of state-of-the-art
machinery and highly efficient workforce. They are powered by a team of highly
creative professionals who work round the clock to come up with the most
efficient range of products. It is the synergy of their team work that they are
able to optimize their output.
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 |
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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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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