MIRA
INFORM REPORT
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Report Date : |
25.06.2007 |
IDENTIFICATION DETAILS
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Name : |
AMOL DIES MAKER |
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Registered Office : |
37, 216 – 219, 2ND Floor, Veena Dalvai Industrial Estate, Near
Ajit Glase, S.V. Road, Oshiwara, Jogshwari (West), Mumbai – 400102,
Maharashtra |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1975 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer, Exporter of Jewellery Making Machineries |
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 : |
37, 216 – 219, 2ND Floor, Veena Dalvai Industrial Estate, Near
Ajit Glase, S.V. Road, Oshiwara, Jogshwari (West), Mumbai – 400102,
Maharashtra |
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Tel. No.: |
91-22-26781098 |
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Mobile No.: |
91-9224262117 |
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Fax No.: |
91-22-6781098 |
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E-Mail : |
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Website : |
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Area : |
250sq.fts |
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Location : |
Owned |
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SOLE PROPRIETOR
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Name : |
Mr. Amol Kharote |
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Designation : |
Proprietor |
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Date of Birth/Age : |
26 Years |
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Qualification : |
Graduate |
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Experience : |
7 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Exporter of Jewellery Making Machineries |
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Products : |
♠
Bangle Cutting Faceting
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Brand Names : |
AMOL |
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Exports : |
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Products : |
Machineries |
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Countries : |
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Terms : |
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Selling : |
Cash, Credit (60 days / 90 days) |
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Purchasing : |
Cash, Credit (60 / 90 days) |
GENERAL INFORMATION
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Customers : |
Wholesalers, End Users, Traders |
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No. of Employees : |
15 |
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Bankers : |
State Bank of Jogeshwari (West) |
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Banking
Relations : |
Satisfactory |
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Associates/Subsidiaries : |
Super Dies Concern (now Closed) |
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 |
31.03.2006 |
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Sales Turnover |
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30.000 |
20.000 |
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Expected Sales (2007-08) : Rs45.000 millions
LOCAL AGENCY FURTHER INFORMATION
Company Details:
Subject is well known throughout
Subject
is a
Gold Jewellery Machine Manufacturing Company engaged in this field since 1975
well known for its products world wide, for the high technology and the
solicity at its equipments subject is a pioneer in Design cutting machines like
Bangle, Chain, Ring, Flat Pendents etc.
Subject has been
making constant efforts in automation of jewellery manufacturing machines. A
trained and dedicated team of excellent craftsman ensures consistent quality
and fulfillment of the demand of customers
Equipped with up to date technology, they deliver the hightest standard
of perfection
Research and
Development and strict Quality ensure almost Zero defects. Compact, streamlined
and attractive machines built with latest and sophisticated technology give
customers most contemporary designs. They assure you that they guarantee
performance in production, quality and of course trouble free services.
Training
Facilities
In the endeavour to serve the customers, they give free training to the machine
operators at his work giving all minute details and technical knowledge in
operating the machines in all respect.
The deep and wide knowledge of manufacturing gold jewellery, and with
its up to date equipments permits ADM to be one step ahead in the world of
jewellery fashion.
Market and
Export Zone
As one of the pioneers in the field of jewellery machine manufacturer since 2
decades they have established their name and reputation in the jewellery
industries. They are well equipped to manufacture machines as per international
quality standards.
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.40.71 |
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1 |
Rs.81.24 |
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Euro |
1 |
Rs.84.63 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
7 |
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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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47 |
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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