MIRA
INFORM REPORT
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Report Date : |
2nd
march 2007 |
IDENTIFICATION
DETAILS
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Name : |
GOLDEN DYECHEM |
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Registered Office : |
Unit Number 17, Ratna Jyot Industrial Estate, Irla Gauthan, Vile Parle
(West), Mumbai - 400 056, Maharashtra |
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10 |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
1978 |
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IEC
No.: |
0301022852 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMG06654E |
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PAN No.: [Permanent
Account No.] |
AAAFG1255H |
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Legal Form : |
Partnership Concern with an Unlimited
Liability of the Partners. |
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Line of Business : |
Stockists and Distributors of Imported
and Indigenous Dyes, Dyes Intermediates and Chemicals. |
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
20000 |
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Status : |
Good |
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Payment Behaviour : |
Usually
Correct |
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Litigation : |
Clear |
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Comments : |
Subject
is a well established and reputed concern having satisfactory track. Partners
are reported as experienced, respectable and resourceful businessmen. Their
trade relations are fair. Payments are usually correct and as per
commitments. The
concern can be considered good for normal business dealings at usual trade
terms and conditions. |
LOCATIONS
|
Registered Office : |
Unit Number 17, Ratna Jyot Industrial Estate, Irla Gauthan, Vile Parle
(West), Mumbai - 400 056, Maharashtra |
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Tel. No.: |
91- 22- 2620 3669 / 2624 4127/ 32442008 |
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Mobile No.: |
91-22-9820036696 |
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Fax No.: |
91- 22- 2670 2988 |
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E-Mail : |
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Website : |
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Area : |
350
Sq. Fts. |
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Location : |
Owned |
PARTNERS
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Name : |
Mr. R.C. Vora |
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Designation : |
Managing Partner |
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Name : |
Mr. Ashok Vora |
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Designation : |
Partner |
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Name : |
Mrs. K.A. Vora |
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Designation : |
Partner |
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Name : |
Mr. P.R. Vora |
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Designation : |
Partner |
KEY EXECUTIVES
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Name
: |
Mr. R.C. Vora |
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Designation
: |
Managing Partner |
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Address
: |
65 years |
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Date
of Birth/Age : |
B.Sc. |
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Qualification
: |
42 years |
BUSINESS DETAILS
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Line of Business : |
Stockists and Distributors of Imported
and Indigenous Dyes, Dyes Intermediates And Chemicals. |
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Products : |
Ø
Gum Rosin Ø
Dyes Ø
Soda Ash Ø
Food Colors Ø
Sodium Sulphate Ø
Hydrogen Peroxide Ø
Clorinated Paraffin Wax Ø
Mono Ethylene Glycol [Reliance / IPCL] Ø
Di Ethylene Glycol [Reliance / IPCL] Ø
Methyl Iso Butyl Ketone [NOCIL] Ø
Semi Refined Paraffin Wax Ø Fully Refined
Paraffin Wax |
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Agencies Held : |
Ø Indian Petrochemicals Corporation Limited Ø Amar Dyechem Limited Ø Amritlal Chemox Limited Ø Reliance Industries Limited |
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Imports from : |
China and Indonesia |
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Terms : |
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Selling : |
Contract, Cash or Credit (60-100) Days |
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Purchasing : |
Contract, Cash, L/C or Credit (60-90) Days |
GENERAL
INFORMATION
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Suppliers : |
Ø Amar Dye-chem Limited Ø Amritlal Chemox Limited Ø Indian Petrochemicals Corporation Limited Ø Reliance Industries Limited Ø
Dalian Chem Import & Export
Private Limited, China. |
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Customers : |
Manufacturers, Wholesalers and Retailers Ø Geoffray Manners Limited, Mumbai, Maharashtra Ø Cadila Group, Ahmedabad, Gujarat |
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No. of Employees : |
8 |
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Bankers : |
Standard Chartered Bank, Fort, Mumbai Bank of Baroda, Mandvi Branch, Mumbai – 400 003, Maharashtra, India Citi Bank N.A., Fort , Mumbai |
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Facilities : |
Cash
Credit |
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Banking Relations : |
Satisfactory |
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Auditors : |
Kothari Mehta & Associates Chartered Accountants |
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Address : |
Kalbadevi, Mumbai – 400 002, Maharashtra,
India. |
CAPITAL STRUCTURE
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Capital
Investment : |
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Owned : |
Rs.5.500
Millions |
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Borrowed : |
-- |
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Total : |
Rs.5.500
Millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
|
Particulars |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
Sales Turnover |
230.000 |
199.700 |
133.500 |
LOCAL AGENCY
FURTHER INFORMATION
Profile :
GOLDEN DYECHEM a member of CAMA (Chemical & Alkali Merchants'
Association) was established in 1978 is an authorized agent and distributor of
some of the most reliable manufacturers of industrial solvents, chemicals and
dyes. With expertise and in depth study, they have developed their core
competence in the field of stocking & supplying dyes, waxes, industrial
chemicals, etc.
They work in collaboration with eminent manufacturers based in domestic and
overseas markets to offer products of international quality. Based on the
understanding of clients' requirements, they offer customized products within
mutually agreed time frame. Endeavouring to become collaborative and strategic
partner to clients, their quality of products is second to none.
Industries Served by Them
Owing to the support of their clients, they have earned immense
organizational success and goodwill in the industry. They have a trustworthy
and satisfying customers base in various industries like paper, printing ink,
cosmetics, lubricants, pesticides, health care, pharmaceuticals, etc., Their
coveted clientele is spread all over the country.
Infrastructure & Team
Their infrastructure set up is based in Mumbai-Maharashtra (the
commercial capital of India) & Gujarat. They have well equipped and
capacious warehouse facility to their credit. By virtue of strong networking
with the manufacturers, they are boosted to meet customer’s requirements within
a short span of time period and at prices that are sure to be competitive.
They have a proficient team and utmost care is taken in all aspects from
procurement of products to the final shipment. Boosted by the infrastructural
set up and team, they are calibrated to deliver customized products to their
customers.
They work in close proximity with the client's team, in order to assure
complete clients satisfaction.
Quality Orientation
Their organization's paramount priority is to deliver quality products.
They lay emphasis on the quality of Their products, as they believe that all
Their clients should get value for their money. They maintain a strict vigil on
the sourced products and ensure that they are tested on varied parameters and
comply with set standards. Each and every supply/delivery is supported by COA
(Certificate of Analysis).
Environmental Policy
All Industrial Solvents, Dyes and Chemicals & Waxes distributed by us are manufactured in conformance with set environmental policies. Realizing the very fact that their products are crucial in the processing and manufacturing process of their client' s business operations, they assure that products are safe.
Manufacturers they are associated with develop chemicals with acute attention
so that they have minimum impact on the environment and health. This truly
highlights their level of commitment to environment.
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 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.44.28 |
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UK
Pound |
1 |
Rs.86.62 |
|
Euro |
1 |
Rs.58.32 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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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 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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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 |
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 |
|
46 |
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 |
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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 |
|
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 |
|
NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
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