MIRA
INFORM REPORT
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Report Date : |
19.06.2007 |
IDENTIFICATION DETAILS
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Name : |
NGR METAL PERDORATORS |
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Registered Office : |
Circular Road, Ganapati Nagar, Rewari – 123401, Haryana |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1982 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
RTKN00966A |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer of perforated Sheets in Steels and Others |
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/Factory : |
Circular Road, Ganapati Nagar, Rewari – 123401, Haryana |
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Tel. No.: |
91-1274-253207 / 253716 |
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Mobile No.: |
91-9416466666 |
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Fax No.: |
91-1274-258743 |
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E-Mail : |
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Area : |
1000sq.mtrs |
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Location : |
Owned |
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SOLE PROPRIETOR
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Name : |
Mr. Nilamber Dutt Gemini |
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Designation : |
Proprietor |
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Date of Birth/Age : |
60 Years |
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Qualification : |
Graduate |
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Experience : |
35 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Perforated Sheets in Steel and Others |
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Terms : |
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Selling : |
L/C, Credit, Cash |
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Purchasing : |
L/C, Credit (60 days), Cash, Sight |
GENERAL INFORMATION
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Customers : |
Local Customers, End Users |
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No. of Employees : |
92 (12 Office, 80 Factory) |
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Bankers : |
Canara Bank, Rewari |
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Banking Relations
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Satisfactory |
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Auditors : |
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Name : |
R.K. Sharma and Associates Chartered Accountants |
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Address : |
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Associates/Subsidiaries : |
1.
SWASTIK ENGINEERS & TRADERS 2.
JDM PERFORATORS |
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 |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
35.000 |
29.500 |
23.000 |
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Profit/Loss for the year |
1.500 |
1.800 |
1.300 |
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LOCAL AGENCY FURTHER INFORMATION
Trade Reference:
©
Neel Metal, Gurgaon
©
Damdekar, Bhiwandi
©
Vikram India Limited, Mumbai
Company Details:
Subject is mainly engaged in the manufacturing of
all types of metal perforated sheets in .20mm to 12mm thickness. They are
specialist in Garder Screen (Perforated Sheets). NGR Metal
Perforators is located at Rewari, Haryana surrounded by world's
well-known Industries of different kinds.
They are manufacturing Perforated Sheets i.e.
Indent sheets, Square hole sheets, Long hole parallel sheets, Capsule
jali, Round hole in heavy thickness, Dimple sheets etc.
The company was established and started in 1983. Their other
sisters concerns are M/s Swastik Engineers & Traders and M/s JDM
Perforators which are running satisfactorily at its peak.
All the three concerns are completely privately owned companies with no
attachments to any Industrial Group. This ensures total quality management
under their own control. With an stock of raw materials, they deliver their
products by the stipulated delivery schedule ensuring that the customer doesn’t
have to keep any extra stock for meeting any emergency requirements. They also
specialize in providing custom solutions as per customer specific requirements.
With their commitment towards quality and strictness to stipulated delivery
period on regular basis, they have developed and gained goodwill of their
valuable customers. They provide what they commit, and commit only what they
can provide.
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 |
6 |
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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 |
6 |
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--LEVERAGE |
1~10 |
6 |
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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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48 |
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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