MIRA
INFORM REPORT
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Report Date : |
20.06.2007 |
IDENTIFICATION DETAILS
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Name : |
SILVER LINE MARKETING |
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Registered Office : |
C – 402, Tejovalay, Near Cipla Foundation, Pune – 411 052, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1994 |
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Legal Form : |
Sole Proprietory Concern. |
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Line of Business : |
Manufacturers and Exporters of Multi Utility Roller Test Bench, Oil Dispensers
Unit, Oil Dispensing Trolley, Hydraulic / Pneumatic / Manual Lift, Tools
Trolley, Oil Disposer |
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. 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 : |
C – 402, Tejovalay, Near Cipla Foundation, Pune – 411 052, |
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Tel. No.: |
91-20-32940249 / 25232083 |
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Fax No.: |
91-20-25232083 |
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E-Mail : |
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Area : |
2500 Sq. fts. |
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Location : |
Rented |
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Factory 1: |
SILVER, 2814 Old Nagar, |
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Area : |
1200 Sq. fts. |
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Location : |
Rented |
SOLE PROPRIETOR
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Name : |
Mr. Avinash Gupta |
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Designation : |
Proprietor |
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Date of Birth/Age : |
63 years |
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Qualification : |
Post Graduate |
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Experience : |
50 years |
KEY EXECUTIVES
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Name : |
Mr. Shital Gupta |
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Designation : |
Key Personnel |
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Mobile No.: |
91-9370647472 / 9371025539 |
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Name : |
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Designation : |
Key Executive |
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Mobile No.: |
91-9325377138 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers and Exporters of Multi Utility Roller Test Bench, Oil
Dispensers Unit, Oil Dispensing Trolley, Hydraulic / Pneumatic / Manual Lift,
Tools Trolley, Oil Disposer |
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Exports : |
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Products : |
Side Car |
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Countries : |
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Imports : |
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Products : |
Flow Meters |
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Countries : |
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Terms : |
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Selling : |
Cash, Credit (50% Advance and 50% on installation) |
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Purchasing : |
Credit (30 days or 60 days) |
GENERAL INFORMATION
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Customers : |
v
Bajaj Auto Limited v
Hero Honda Motors Limited v
TVS Motors Limited v
LML Limited v
Yamaha Motors v
Kinetic Engineering v
Castrol India Limited v
L & T John Deere Limited |
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No. of Employees : |
15 |
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Bankers : |
v
ICICI Bank, Kondwa, Pune, v
Corporation Bank v
Citi Bank |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Gavaskar Doshi and Company Chartered Accountants |
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Associates/Subsidiaries : |
Siltech Service Equipments Private Limited |
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Address: |
C – 402, Tejovalay, Near Cipla Foundation, Pune – 411 052, |
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Line of
Business: |
Manufacturers and Exporters of Multi Utility Roller Test Bench, Oil
Dispensers Unit, Oil Dispensing Trolley, Hydraulic / Pneumatic / Manual Lift,
Tools Trolley, Oil Disposer |
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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10.000 |
Expected Sales (2007-08): Rs. 15.220 millions
LOCAL AGENCY FURTHER INFORMATION
Website details attached
Profile
Established in 1994, subject is one of the
leading manufacturer and exporters of Multi Utility Roller Test Bench, Oil Dispensers
Unit, Oil Dispensing Trolley, Hydraulic / Pneumatic / Manual Lift, Tools
Trolley, Oil Disposer. Their team of
highly competent professionals leave no stone unturned and no avenues
unexplored to enhance their growth and progress. The year 2000 saw them entering into the
garage equipment business. Since then
their company has not looked back and they have blossomed into a giant
corporate. In the course of their urge for
development, they have developed numerous equipments for modern service centres
which g\have proved to be of great benefit and application. The company is growing by leaps and bounds
under an able competent guidance of great visionaries having immense experience
and talent.
Products
They are dealing in a variety of products and
equipments like Multi Utility Roller Test Bench, Oil Dispensers Unit, Oil Dispensing
Trolley, Hydraulic / Pneumatic / Manual Lift, Tools Trolley, Oil Disposer.,
etc.
Strength
They always endeavour to manufacture good
quality innovative products are the most competitive prices for their esteemed
clients. At the same time, they also try
to meet there regular demands and specifications of the auto industry through
their Research and Development. Their
commitment to provide good quality products has sustained them in the
competitive market. They ensure that
such an effort is constantly maintained.
Clients
Their company has been associated with some of
the best names in the Two and Three-wheelers manufacturing in the country.
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 |
YES |
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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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