MIRA
INFORM REPORT
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Report Date : |
20.06.2007 |
IDENTIFICATION DETAILS
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Name : |
AXPERT |
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Registered Office : |
A1 / 2, Mantra Complex, Opposite Amrapali III, Opposite Shradha petrol
Pump, Near Judges Bunglow Road, Ahmedabad – 380 015, Gujarat, |
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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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TAN No.: [Tax
Deduction & Collection Account No.] |
PTLA12064D |
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Legal Form : |
Partnership concern with an unlimited liability of the partners. |
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Line of Business : |
Manufacturers and Exporters of weighing scale. |
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 10000 |
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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 : |
A1 / 2, Mantra Complex, Opposite Amrapali III, Opposite Shradha petrol
Pump, Near Judges Bunglow Road, Ahmedabad – 380 015, Gujarat, |
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Tel. No.: |
91-79-65455513 / 26870579 |
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Fax No.: |
91-79- 26870576 |
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Website : |
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Area : |
1200 Sq. fts. |
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Location : |
Rented |
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Factory : |
Plot No.76, Sector 1, Parwanoo, District – Solan, Himachal Pradesh |
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Area : |
5600 Sq. fts. |
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Location : |
Rented |
PARTNERS
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Name : |
Mr. Pinakin Patel |
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Designation : |
Partner |
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Mobile No.: |
91-9327015030 / 9374991015 |
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Date of Birth/Age : |
35 years |
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Qualification : |
Graduate |
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Experience : |
7 years – 8 years |
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Name : |
Mr. Harshad Patel |
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Designation : |
Partner |
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Date of Birth/Age : |
36 years |
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Qualification : |
Graduate |
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Experience : |
7 years – 8 years |
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Name : |
Mr. R K Patel |
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Designation : |
Partner |
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Date of Birth/Age : |
40 years |
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Qualification : |
Graduate |
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Experience : |
7 years – 8 years |
KEY EXECUTIVES
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Name : |
Mr. Kunal |
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Designation : |
Accountant |
BUSINESS DETAILS
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Line of Business : |
Manufacturers and Exporters of weighing scale. |
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Products : |
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Brand Names : |
“AXPERT” |
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Exports : |
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Products : |
Weighing Scales |
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Countries : |
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Imports : |
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Products : |
Raw material |
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Countries : |
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Terms : |
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Selling : |
Cash or Credit (30 days – 45 days) |
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Purchasing : |
Cash or Credit (30 days – 45 days) |
GENERAL INFORMATION
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Customers : |
Dealers and Distributors |
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No. of Employees : |
35 (Office: 10 ; Factory: 25) |
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Bankers : |
HDFC Bank |
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Banking
Relations : |
Satisfactory |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 2.500 millions |
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Borrowed : |
- |
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Total : |
Rs. 2.500 millions |
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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45.000 |
Expected Sales (2007-08) : Rs. 45.000 millions
LOCAL AGENCY FURTHER INFORMATION
Website details attached
Profile
Established in the year 2000, subject have come a long way within a short
span of time, and become a highly reputed manufacturer, exporter and
supplier of a wide range of Electronic/Digital Scales
including Table Top Scales, Platform Scales, Jewellery Scales, Hanging Scales,
Crane Scales, Coin Operated Weighing Scales, Weigh Bridges, Lab Scales, etc.
Owing to their consistent maintenance of high quality standards in all these
products, they have obtained the ISO 9001:2000
certifications since last three years. Some of their products are ready to get ISI
mark from the Bureau of Indian Standards within a short period. Their belief is
that success is the outcome of quality and they endeavor to achieve and exceed
customers' expectations by serving the best quality, reliable and user friendly
weighing scales at highly competitive prices.
Subject has the right to import and export products being authorized by
the government, which provides a good foundation to communicate and well
cooperate with their customers based abroad. With the strategy of improving
theirselves and pursuing management excellence, they have a good credit in the
industry and offer the best services to their customers. Their future plan is
to expand their business worldwide and explore new horizons of success.
Subject is a prominent manufacturer,
exporter and supplier of a wide range of Electronic/Digital Weighing Scales which are acclaimed both in the
domestic and international market for their world class quality. Their range of
Electronic/Digital Weighing Scales includes-
- Table Top Scales
- Platform Scales
- Jewellery Scales
- Hanging Scales
- Crane Scales
- Coin Operated Weighing Scales
- Weigh Bridges
- Lab Scales
- Counter Scales
- Industrial Platform Scales.
Quality
Subject offer their customers highly
reliable products at very competitive prices, undergoing complete quality
control and service system to ensure their satisfaction and their reputation as
the most reliable manufacturer of world class electronic/digital scales. By
adopting advanced manufacturing technology, we produce superior and complaint
free products which offer fantastic performance for years.
Infrastructure
The best asset of their company, subject is their dedicated workers displaying
hard work and expertise to bring the company to the position of peerless repute
and at the acme of success. In addition, they have a highly advanced
manufacturing unit equipped with ultra modern machinery. The combination of
this second to none workforce and cutting edge technology enables them to be in
the forerunner position in the industry. They have their manufacturing works at
Parwanoo, Himachal Pradesh and Gandhinagar,
Primary Competitive Advantages
v Efficient Service
v Quality Products
v Durability of products
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. 40.70 |
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1 |
Rs. 80.80 |
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Euro |
1 |
Rs. 54.65 |
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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