MIRA
INFORM REPORT
|
Report Date : |
22.06.2007 |
IDENTIFICATION DETAILS
|
Name : |
SUPREME
SILICONES |
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Registered Office : |
20/1, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
2003 |
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Legal Form : |
Partnership
Concern with an unlimited liability of the partners. |
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Line of Business : |
Manufacturer and Exporter of Silicone Emulsion, Anti foam
Emulsion, Activated Silicone Fluid, Amino Silicone Emulsion, Defoamer,
Textile Softener and Mold Release Agents. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD
6000 |
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|
|
|
Status : |
Satisfactory
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Payment Behaviour : |
Usually
correct |
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Litigation : |
Clear |
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Comments : |
Subject
is a concern started by three qualified Chemical engineers who were together
in hostel during their study. Trade relations are fair. Payments are usually
correct and as per commitments. The concern
can be considered normal for business dealings at usual trade terms and
conditions. |
LOCATIONS
|
Registered Office : |
20/1, |
|
Tel. No.: |
91-20-24361070 |
|
Mobile No.: |
91-9822281671/
9823359104 |
|
Fax No.: |
91-240-2554194 |
|
E-Mail : |
omkarkamble@rediffmail.com
, a_dgoswami@rediffmail.com , abhijit4suryawanshi@rediffmail.com
|
|
Website : |
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Area : |
1100
sq. ft. |
|
Location : |
Owned |
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|
|
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Factory
1 : |
K – 170,
MIDC, Waluj, |
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Area : |
10000
sq. ft. |
|
Location : |
Owned |
PARTNERS
|
Name : |
Mr.
Omkar Ramesh Kamble |
|
Designation : |
Partner
|
|
Date of Birth/Age : |
28
Years |
|
Qualification : |
B. E. Graduate
(Chemicals) M. B. A. |
|
Experience : |
5
Years |
|
|
|
|
Name : |
Mr.
Abhijeet Suryawanshi |
|
Designation : |
Partner
|
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Date of Birth/Age : |
28
Years |
|
Qualification : |
B.
Tech.(Chemicals), M B A (B. Tech.), Post Graduate in Import-Export |
|
Experience : |
5
Years |
|
|
|
|
Name : |
Mr.
Abhijeet Goswami |
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Designation : |
Partner
|
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Date of Birth/Age : |
28
Years |
|
Qualification : |
B. E.
(Chemicals) |
|
Experience : |
5
Years |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of
Silicone
Emulsion, Anti foam Emulsion, Activated Silicone Fluid, Amino Silicone
Emulsion, Defoamer, Textile Softener and Mold Release Agents. |
|
|
|
|
Products : |
v
Silicone Emulsion, v
Anti foam Emulsion v
Activated Silicone Fluid v
Amino Silicone Emulsion v
Defoamer v
Textile Softener v
Mold Release Agents |
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|
|
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Exports: |
|
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Products : |
Silicone
Emulsion, Anti foam Emulsion, Activated Silicone Fluid, Amino Silicone
Emulsion, Defoamer, Textile Softener |
|
Countries : |
South
Arabia, U. A. E, Pakistan, Malaysia, Middle East, Arab Countries, South East,
Africa and Europe, Singapore and East Asian countries. |
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Imports: |
|
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Products : |
-- |
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Countries : |
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Terms : |
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Selling : |
Cash
and Credit (30/60 days) |
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Purchasing : |
Cash
and Credit (30/60 days) |
GENERAL INFORMATION
|
Customers : |
Retailers
and End Users |
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|
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No. of Employees : |
About
20 |
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|
|
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Bankers : |
v
State Bank of Waluj Aurangabad, v
Karad Urban Bank Limited Dhankawdi Branch, Pune, v
Bank of Padmawati Branch, Pune, |
|
Facilities : |
Cash Credit
: Rs. 0.500 millions |
|
|
|
|
Membership : |
DIC |
|
|
|
|
Associates : |
Explicit
Chemicals Private Limited |
CAPITAL STRUCTURE
|
Capital
Investment : |
|
|
Owned : |
Rs.
0.900 Million |
|
Borrowed : |
Rs.
0.600 Million |
|
Total : |
Rs.
1.500 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
|
Particulars |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
Sales Turnover |
10.000 |
8.500 |
8.000 |
|
|
|
|
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Expected
Sales March 2007-08 : will increase by 20% than previous year.
LOCAL AGENCY FURTHER INFORMATION
Trade
Reference :
v
Devgari Latex,
v
K K Chemicals Industries, Mumbai
v
Dow Corning India Private Limited, Bandra, Mumbai – 400050
v
Wockhardt Limited, Mumbai
As Per
Website
Profile
Subject is a manufacturer and exporter of Silicone Emulsion, Anti foam Emulsion, Activated Silicone Fluid, Amino Silicone Emulsion, Defoamer, Textile Softener and Mold Release Agents. The company is growing in leaps and bounds not only in domestic but also in the international market. Committed to excellence and quality, their team is a dedicated group of individuals striving to give the best.
"Helping
customers to improve their productivity is something they are very familiar
with." Supreme Silicones
is successfully marching ahead in various countries across the globe. They have
an impressive growth record both in the domestic as well as in international
markets. The people are committed to excellence; superior product quality is a
goal of everyone., and they are proud of their ability to provide the best
products for their needs. They are totally committed to supply their customers
with the highest quality products, supported by highest quality services. They
are glad to present a spectrum of speciality
and laboratory chemicals under the flagship of Explicit Chemicals
Private Limited.
Supreme Silicones and Explicit Chemicals Private Limited are equipped with the
latest technology and keeps updating through indigenous R&D activities.
They have manufacturing facilities at
Products
Their product range covers a wide variety of Silicone Specialty Chemicals. The superior quality and competitive prices are the virtues they aspire to imbibe and sustain all through. Their wide product profile covers:
Silicones product range covers
©
Silicone
Antifoam / Defoamer Emulsion
©
Silicone
Mold Release Emulsion
©
Activated
Silicone Fluid (100% Antifoam)
©
Amino
Textile Softener
Speciality and Laboratory Chemicals range
covers
©
Phthalimide
©
Potassium
Phthalimide
©
Alloxan
Monohydrate
©
Murexide
(Ammonium Purpurate)
©
Di Iso
Propyl Succiniate
©
3 Cyclohexyl
Propionic Acid
©
©
Ninhydrin
©
Chloramine
T Trihydrate
©
Sodium
Lauryl Sulphate
©
Barbituric
Acid
©
Quaternary
ammonium salts in water and in methanol
©
Tetra
Methyl Ammonium Hydroxide in Water
©
Tetra n -Propyl
Ammonium Hydroxide in water
©
Tetra
n-Butyl Ammonium Hydroxide in water
Infrastructure
Supreme Silicones is equipped with the latest technology and modern machineries, keeping the pace of innovation moving. The efficient line of their professionals are motivated by goal orientation and driven by result procurements. Their proficiency enables us to manufacture better and superior. The R&D is essentially a manifestation of commitment towards the fulfillment of all customer requirements and they are proud of their team for meeting the same.
Quality
Subject is an ISO 9001:2000 certified company,
always strive to provide you the most premium of the quality available in
the market. Their products have excellent properties including low volatility
and resistance to silica separation. Their defoamers are one of the fastest
defoamers of any Simethicone made these days. At the same time the activated
silicone fluid, they produce demonstrates bubble coalescing activity and
facilitates lubricity. The quality checks maintained by us help reduce
inaccuracy and bring much contentment to clients.
Product Features
The Silicone Emulsion, Anti foam Emulsion, Activated Silicone Fluid, Amino Silicone Emulsion, Defoamer, Textile Softener and Mold Release Agents manufactured by us are qualitative products characterizing the following:
v
Stable over wide pH range
v
Very good foam knock down
performance
v
Excellent foam control
persistence
v
Easy to disperse in non-aqueous
systems
v
Complies with key chemical
control laws and regulations
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 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
|
Currency |
Unit
|
Indian Rupees |
|
US
Dollar |
1 |
Rs. 40.75 |
|
|
1 |
Rs. 81.17 |
|
Euro |
1 |
Rs. 54.59 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
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--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
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
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base
with the strongest capability for timely payment of interest and principal
sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome financial
difficulties seems comparatively below average/normal. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |