MIRA
INFORM REPORT
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Report Date : |
28th February, 2007 |
IDENTIFICATION
DETAILS
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Name : |
DHARA INDUSTRIES |
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Registered Office : |
8, Mahaveer Industrial Estate, Ramachandra Lane Extension, Valani Village,
Kanchpada, Malad, Mumbai – 400 064, Maharashtra, India |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
2001 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Trader of Plastic Raw Materials such as modified PPE Polypropylene /
Polycarbonate, PBT, etc. |
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 : |
-- |
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Status : |
Small Concern |
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Payment Behaviour : |
Slow and delayed |
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Litigation : |
Clear |
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Comments : |
Subject is a small trader of plastic raw materials. Majority of his
transactions are in cash and hence not reflected with government tax authority.
Hence, he is afraid to part require details. Subject’s payments are reported
as slow and delayed. It can be considered for small to mediocre business
dealings on safe and secured trade terms and conditions, initially. |
LOCATIONS
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Registered Office : |
8, Mahaveer Industrial Estate, Ramachandra Lane Extension, Valani
Village, Kanchpada, Malad, Mumbai – 400 064, Maharashtra, India |
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Tel. No.: |
91-22-2844567166992617/ 18 |
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Mobile No.: |
91-9821013497 |
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Fax No.: |
91-22-28444672 |
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E-Mail : |
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Website : |
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Area : |
800 sq. ft. |
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Location : |
Rented |
SOLE PROPRIETOR
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Name : |
Mr. Gaurav Thanky |
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Designation : |
Sole Proprietor |
BUSINESS DETAILS
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Line of Business : |
Trader of Plastic Raw Materials such as modified PPE Polypropylene /
Polycarbonate, PBT, etc. |
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Products : |
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Imports : |
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Products : |
Plastic Raw Material |
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Countries : |
Korea |
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Terms : |
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Selling : |
Credit upto 30-60-90 days basis |
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Purchasing : |
L/C, Credit upto 30 days basis |
GENERAL
INFORMATION
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Customers : |
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No. of Employees : |
About 2 |
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Bankers : |
Charkop, Kandivli (West), Mumbai – 400 067, Maharashtra, India |
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Banking
Relations : |
Unknown |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 1.000 millions |
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Borrowed : |
Rs. 1.000 millions |
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Total : |
Rs. 2.000 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2006 |
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Sales Turnover |
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20/ 30 |
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Expected Sales (2007-08) : Rs. 30/ 40 millions.
LOCAL AGENCY
FURTHER INFORMATION
Authorized Agents for:
- Radical
Plastics, India
Trade References :
- Kotec
Corporation, Korea
As per Web:
Profile
- DHARA
INDUSTRIES is the engineering plastics raw material trading firm started
in the year 2001.
- Company
is selling Virgin as well as Semi-virgin grades as per the need of the
products.
- Company
has well trained and experience staff to handle their activities.
- Company
is more focus on quality products and services to maintain the competitive
edge.
- Company
provides consultancy to develop specific grades and also after sales
service.
- Major
focus of the company is to cater snitch market and end users.
- Company
believes in relationship marketing rather than transaction marketing.
- Company
is selling concept rather than products.
Products
They offer wide
range of products which offers unique feature and greater flexibilities to
develop innovative products with increased value and competitiveness.
PI range of
products:
They are the consignee
stockist for PI polymers, a division of PI Industries, manufacturer of
engineering polymer compounds for various customized applications. They offer
six different choices of compound products which are mainly used for
appliances, automobiles, electrical and electronics products.
- Modified
PPE
- Polypropylene
- Polycarbonate
- PBT
- Nylon-6 and
Thermoplastic Polyurethane
Kotec Corporation range of products:
- Carbotex K-30FRT12UR,
- Carbotex K-40UVR,
- Carbotex KGN-10MRA
Customers
They have a prestigious list of customers from different categories of companies depending upon the products.
Automobiles
The products are widely used in the automobile industry for
manufacturing Bushes, Radiator fan, Engine covers, Fuel Rail cover,
cams,Gears,Grill, Wheel caps, Mirror Cover, Door Handles, Fuel Lid Cover etc.
Electrical Industries
They are the number one supplier for all Compound material for Electrical and Electronics product manufacturing companies e.g. Switches, DP cover, Picture Tube holder, Meter Enclosure, Battery Heat shield, Switch boxes, Housing for relays, High voltage Plugs, Electrical Energy meters, Modular switches & plates, connectors and plug srips, Jack connector, Deflection Yokes, Led Reflection frame, Adapter and Battery cases, chasis of printer , Fax machine etc.
Appliances
Drain cock, Hot water pump, Air conditioner parts, Iron Housing, Geyser casing, Mixer Body, Toaster cover, Washing machine parts, camera housing, hair dryers, lens Housing, Lous speaker enclosure, office machine housing.
Iron skirts, Kitchenware handles, toasters, hair dryers, water tapes, Flexible coupling, Textile machinery, timer belts etc.
Also products are widely used in Stationery and Pen
Industries.
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.31 |
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UK Pound |
1 |
Rs.86.96 |
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Euro |
1 |
Rs.58.58 |
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 |
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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
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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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PRIVATE & CONFIDENTIAL : This information
is provided to you at your request, you having employed MIPL for such purpose.
You will use the information as aid only in determining the propriety of giving
credit and generally as an aid to your business and for no other purpose. You
will hold the information in strict confidence, and shall not reveal it or make
it known to the subject persons, firms or corporations or to any other. MIPL
does not warrant the correctness of the information as you hold it free of any
liability whatsoever. You will be liable to and indemnify MIPL for any loss,
damage or expense, occasioned by your breach or non observance of any one, or
more of these conditions