MIRA
INFORM REPORT
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Report Date : |
27.06.2007 |
IDENTIFICATION DETAILS
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Name : |
MONO ACRYLIC
MANUFACTURING COMPANY PRIVATE LIMITED |
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Registered Office : |
Khasra No. 53, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
19.02.1986 |
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Com. Reg. No.: |
55-23406 |
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CIN No.: [Company
Identification No.] |
U7489DL1986PTC023406 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELM05388F |
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Legal Form : |
Private Limited
Liability Company |
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Line of Business : |
Trading of
Acrylic Plastic Sheets Offcuts / PVC Laminated sheets. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 64000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow by Average
30 Days |
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Litigation : |
Clear |
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Comments : |
Subject is a
small trading company. It incurred losses. Trade relations are fair. Payments
are reported as slow by average 30 days. The company can
be considered for small business dealings at usual trade terms and conditions |
LOCATIONS
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Registered Office : |
Khasra No. 53, |
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Tel. No.: |
91-11-27291833 /
27292314 / 22925287 / 22927720 / 27266340 |
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Fax No.: |
91-11-27291822 /
27248615 / 22940895 |
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E-Mail : |
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Website : |
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Location : |
Owned -
Commercial Area |
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Head
Office/Warehouse: |
No. 53, |
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Tel. No.: |
91-11-2925287 |
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Fax No.: |
91-11-2940895 |
DIRECTORS
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Name : |
Mr. Sanjay Kumar
Aggarwal |
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Designation : |
Director |
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Address : |
2/34, Roop Nagar,
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Date of
Birth/Age : |
15.09.1967 |
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Date of
Appointment : |
23.05.1996 |
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Name : |
Mr. Manish
Aggarwal |
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Designation : |
Director |
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Address : |
2/34, Roop Nagar,
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Date of
Birth/Age : |
08.09.1975 |
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Qualification
: |
B.Com [Hons.] |
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Date of
Appointment : |
15.05.1995 |
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Name : |
Mr. Bhupender
Nath |
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Designation : |
Director |
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Date of
Birth/Age : |
07.11.1929 |
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Date of
Appointment : |
20.08.2000 |
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Name : |
Mr. Tarun Kumar |
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Designation : |
Director |
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Address : |
C-185,
Pushpanjali Enclave, Pitampura, |
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Date of
Birth/Age : |
13.05.1959 |
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Date of
Appointment : |
01.01.2007 |
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Other
Directorship : |
ACRY Monomers India
Private Limited U25207DL1998PTC094520 Mangat Holdings
Private Limited U67120DL1998PTC094510 M.S. Marbel And
Granite Company Private Limited U51432DL1997PTC088703 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Mr. Anand Kumar
Gupta |
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10 |
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Mr. Mohinder
Singh Aggarwal |
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3010 |
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Ms. Prabha
Aggarwal |
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23975 |
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Mr. Sanjay Kumar
Aggarwal |
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2750 |
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Mr. M. S.
Aggarwal |
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5800 |
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M S Marble & Granite
Company Private Limited |
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21750 |
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Mr. Manish
Aggarwal |
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1250 |
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Mangat Holdings
Private Limited |
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22300 |
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Total |
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80845 |
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Equity Share
Breakup |
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Percentage of
Holding |
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Category |
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Bodies corporate |
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54.49 % |
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Directors of relatives of directors |
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45.50 % |
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Other top fifty shareholders |
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0.01 % |
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Total
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100.00
% |
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List of
Allottees |
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No. of Shares |
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Names of Shareholders |
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Delhi Acrylic Manufacturing Company Private Limited |
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6760 |
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Vyom Finance Private Limited |
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4000 |
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Shivam Fincap Private Limited |
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3200 |
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Total
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13960 |
BUSINESS DETAILS
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Line of Business : |
Trading of Acrylic
Plastic Sheets Offcuts / PVC Laminated sheets. |
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Brand Names : |
UNIFLEX |
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Imports : |
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Countries : |
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Terms : |
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Selling : |
Cash, L/C or
Credit (30/60/180 days) Terms. |
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Purchasing : |
L/C at Sight or
Credit (60 days) Terms. |
GENERAL INFORMATION
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Suppliers : |
P.O. Box No. 2605,
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Customers : |
Wholesaler and
Retailers |
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No. of Employees : |
7 |
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Bankers : |
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Facilities : |
-- |
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Banking
Relations : |
Unknown |
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Auditors : |
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Name : |
Vinay Goel &
Company Chartered
Accountants |
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Address : |
501, |
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Tel. No.: |
91-11-23738001 /
23738002 |
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Fax No.: |
91-11-23730491 |
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Associates/Subsidiaries : |
Hanwa Polymer
Company Limited, |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity Shares |
Rs. 100 each/- |
Rs. 10.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
80845 |
Equity Shares |
Rs.100 each |
Rs. 8.085 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE SHEET
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SOURCES OF FUNDS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
8.084 |
8.084 |
8.084 |
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2] Share Application Money |
1.690 |
0.000 |
7.132 |
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3] Reserves & Surplus |
7.133 |
7.133 |
0.000 |
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4] (Accumulated Losses) |
[0.669] |
[0.832] |
(0.188) |
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NETWORTH |
16.238 |
14.385 |
15.028 |
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LOAN FUNDS |
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1] Secured Loans |
0.972 |
0.000 |
0.000 |
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2] Unsecured Loans |
0.010 |
0.000 |
0.000 |
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TOTAL BORROWING |
0.982 |
0.000 |
0.000 |
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DEFERRED TAX LIABILITIES |
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TOTAL |
17.220 |
14.385 |
15.028 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
0.421 |
0.708 |
1.173 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
8.600 |
7.100 |
7.100 |
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DEFERREX TAX ASSETS |
0.577 |
0.709 |
0.824 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
1.563 |
1.134 |
0.380 |
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Sundry Debtors |
6.610 |
0.771 |
2.311 |
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Cash & Bank Balances |
2.739 |
2.601 |
3.372 |
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Other Current Assets |
0.002 |
0.005 |
0.006 |
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Loans & Advances |
1.335 |
1.651 |
0.219 |
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Total
Current Assets |
12.249 |
6.162 |
6.288
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
4.606 |
0.294 |
0.358 |
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Provisions |
0.021 |
0.000 |
0.000 |
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Total
Current Liabilities |
4.627 |
0.294 |
0.358
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Net Current Assets |
7.622 |
5.868 |
5.930 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.001 |
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TOTAL |
17.220 |
14.385 |
15.028 |
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PROFIT &
LOSS ACCOUNT
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PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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Sales Turnover [including other
income]
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8.862 |
1.768 |
4.299 |
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Profit/(Loss) Before Tax
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0.390 |
(0.366) |
(0.022) |
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Provision for Taxation
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0.173 |
(0.084) |
0.000 |
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Profit/(Loss) After Tax
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0.217 |
(0.282) |
(0.022) |
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Expenditures:
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Total Expenses
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8.341
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1.944 |
NA |
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Depreciation and Interest
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0.131
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0.190 |
NA |
Total Expenditure
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8.472 |
2.134 |
4.623 |
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KEY RATIOS
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PARTICULARS |
|
31.03.2006 |
31.03.2005 |
31.03.2004 |
PAT / Total Income
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(%)
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2.45
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(15.95)
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(0.51) |
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Net Profit Margin
(PBT/Sales) |
(%) |
4.40
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(20.70)
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(0.51) |
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Return on Total Assets
(PBT/Total
Assets} |
(%) |
3.08
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(5.33)
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0.29 |
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Return on Investment (ROI)
(PBT/Networth) |
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0.02
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(0.03)
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0.00 |
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Debt Equity Ratio
(Total
Liability/Networth) |
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0.35 |
0.02
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0.02 |
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Current Ratio
(Current
Asset/Current Liability) |
|
2.65 |
21.02
|
1.06 |
LOCAL AGENCY FURTHER INFORMATION
NIL
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.40.95 |
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|
1 |
Rs.81.80 |
|
Euro |
1 |
Rs.55.09 |
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 |
4 |
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OPERATING SCALE |
1~10 |
4 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
4 |
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--RESERVES |
1~10 |
4 |
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--CREDIT LINES |
1~10 |
4 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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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 |
|
37 |
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 |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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