MIRA
INFORM REPORT
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Report Date : |
07.06.2007 |
IDENTIFICATION DETAILS
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Name : |
GITA MARKETING COMPANY |
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Registered Office : |
No. 4, Aashirvad, 1st Cross, Lakshmi Layout, Munnekolala,
Marathalli Post, Bangalore – 560037, Karnataka |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
2000 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Traders and Dealers of Adapters, Tube Fittings, High Temperature
Teflon Hoses, Stainless Steel Corrugated Hoses, Hydraulic Hose Assembly’s |
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 6000 |
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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 : |
No. 4, Aashirvad, 1st Cross, Lakshmi Layout, Munnekolala, Marathalli
Post, Bangalore – 560037, Karnataka |
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Tel. No.: |
91-80-28525925 |
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Mobile No.: |
91-9845162515 |
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Fax No.: |
91-80-28525926 |
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E-Mail : |
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Website : |
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Area : |
2000sq.fts |
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Location : |
Rented |
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Godowns: |
Two Godowns in the same locality ( |
SOLE PROPRIETOR
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Name : |
Mr. S.V. Subramanian |
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Designation : |
Proprietor |
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Date of Birth/Age : |
55 Years |
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Qualification : |
B.Com |
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Experience : |
33 Years |
BUSINESS DETAILS
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Line of Business : |
Traders and Dealers of Adapters, Tube Fittings, High Temperature Teflon
Hoses, Stainless Steel Corrugated Hoses, Hydraulic Hose Assembly’s |
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Products : |
§
Hydraulic Rubbers §
Stainless Steel §
Teflon Hose Assy Fittings §
Suhbo Lifting Materials §
GEN INDS §
Thermo Plastic Hoses §
Hydraulic Fittings §
Airless Spray Gas §
Suhbo Lifting Slings §
Suhbo Round Slings §
Multi-Legged Slings §
Safe Lifting Charts §
Suhbo Industrial §
Safety Belts §
Ratchet Lashing System §
Airless Spray (Wagner) §
Spray Gun (Anest) |
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Brand Names: |
Subho |
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Terms : |
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Selling : |
45 – 60 days credit |
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Purchasing : |
30 to 90 days credit |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
5 (2 Technical, 3 Other) |
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Bankers : |
Corporation Bank Dolur Branch, |
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Facilities : |
Rs.1.500 millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
M/s M.S.S.V. and company Chartered Accountants |
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Address : |
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CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.1.500 millions |
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Borrowed : |
- |
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Total : |
Rs.1.500 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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13.000 |
11.500 |
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Profit/Loss for the year |
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Indicate around 9 to 11% |
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LOCAL AGENCY FURTHER INFORMATION
Average Value of
inventories at any given time: Rs.0.800 millions
Company Profile:
Subject are a reputed manufacturer, exporter
and dealer of Hydraulic Rubber, SS, Teflon Hose Assy Fittings, Suhbo Lifting
Materials, Airless Spray (Wagner), supplier of GEN-INDS, and an importer of
Spray Gun (Anest) and Airless Spray (Wagner). They also deal in material handling
products like Duplex Webbing Slings, Round Slings, Multi-Legged Slings, Ratchet
Lashing System and Safety Belts under the brand name Suhbo. Suhbo is an
acclaimed name in the material handling field and has obtained its safety mark,
''S'' mark from
Established in the year 2000, they have earned a sound goodwill for themselves
and have succeeded in winning the trust of their customers. This repute and
respect within a short frame of time is the result of their hard work and grit
determination. Besides, they adhere to their philosophy of commitment to their
clients, honest trade practices and offering their high quality products at
competitive prices. This helps them increase their sales volume to an
impressive figure, thereby helping them remain ahead of their contenders.
Their
Products
The products of a company enable the customers to form an opinion about the
same in the market. Thus, they take into account the valuable feedback and
suggestions given to them by their clients. This helps them meet their
requirements with effectiveness and live up to their expectations.
Their Infrastructure
Infrastructure is the building block of subject which forms the backbone of
their corporate entity. They are backed by a dedicated and skilled team of
employees and super-advanced machineries as a part of their infrastructure.
These are the assets of their organization, and owing to them, they are able to
meet the high standards they have set for themselves. They observe measures
like periodic lubrication of their machineries and regular training sessions
for their employees. This helps them yield maximum results from them and
discover unexplored horizons in this domain.
Quality.....Their Excellence
Being a quality-conscious firm, they give top priority to the quality of their
products. Stringent quality control checks are observed by them right from the
initial till the packaging stage. These checks are executed in accordance with
the global standards and thus there remains no scope for a defective product. It
is this flawless and unmatched quality product which helps in the rapid rise of
their company.
Subject Marketing because.....
- No
compromises on the quality of their products
- Competitive
prices--the best price offered in the market
- Ability to
meet the exacting requirements of their customers
- Strict
adherence to industrial norms and global quality standards
- Regular
upgradation of products both in terms of quality and innovation
- Rigorous
market research to stay abreast of the latest technological developments
- Right
combination of qualified personnel and ultra-modern machines to smoothen
their operations.
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.40.63 |
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1 |
Rs.81.01 |
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Euro |
1 |
Rs.54.89 |
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 |
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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