MIRA
INFORM REPORT
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Report Date : |
16:03:2007 |
IDENTIFICATION
DETAILS
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Name : |
SURAJ METAL CORPORATION |
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Registered Office : |
21, 2nd Carpentier Street, Mumbai – 400 004, Maharashtra |
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Country : |
INDIA |
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Financials (as on) : |
31:03:2007 |
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Date of Incorporation : |
1972 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMS11305A |
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PAN No.: [Permanent
Account No.] |
AACFS3871M |
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Legal Form : |
Partnership Concern with an
Unlimited Liability of the Partner. |
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Line of Business : |
Dealer & stockiest of Ferrous & Non Ferrous Industrial
Raw Materials Specialty in Stainless
Steel Round, Square, Hex, Bright Bar. They are also Chemicals, Fertilizer and
Petrochemical Industries, Sugar & Distillations of manufacturers,
Engineering, Electrical& Cement Industries. |
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 : |
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Status : |
Satisfactory |
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Payment Behavior : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is well-established and reputed
concern having satisfactory track. Partners are reported as experienced and
respectable businessman. Trade relations are reported as fair. Business is
active. Payments record are unknown. However the concern can be considered
normal for business dealings at usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
21, 2nd Carpentier Street, Mumbai – 400 004, Maharashtra |
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Tel. No.: |
91-22-23866919 / 23895697 |
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Mobile No.: |
91-9821050477 |
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Fax No.: |
91-22-23876348 |
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E-Mail : |
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Website : |
http\\www.surajmetal.com |
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Area : |
500 Sq. ft. |
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Location : |
Rented |
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SOLE
PROPRIETOR/PARTNERS/DIRECTORS
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Name : |
Mr. Surajmal Mehta |
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Designation : |
Proprietor |
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Date of Birth/Age : |
61 Years |
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Qualification : |
Post Graduate |
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Experience : |
30 Years |
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Name : |
Kishor Mehta |
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Designation : |
Proprietor |
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Address : |
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Date of Birth/Age : |
40 Years |
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Qualification : |
Under Graduate |
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Experience : |
20 Years |
BUSINESS DETAILS
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Line of Business : |
Dealer & stockiest of Ferrous & Non Ferrous Industrial
Raw Materials Specialty in Stainless Steel
Round, Square, Hex, Bright Bar. They are also Chemicals, Fertilizer and
Petrochemical Industries, Sugar & Distillations of manufacturers,
Engineering, Electrical& Cement Industries. |
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Products : |
Trader of Stainless Steel |
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Terms : |
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Selling : |
L/C / Cash |
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Others : |
T/T |
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Purchasing : |
Credit 30 Days |
PRODUCTION STATUS
GENERAL
INFORMATION
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No. of Employees : |
4 |
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Bankers : |
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Bank of Baroda , Gulalawadi , Mumbai – 400 004 |
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HDFC Bank , Charni Road, Mumbai
- 400 004 |
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Facilities |
The concern does not
enjoy facilities from its
banker |
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Auditors : |
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Name : |
M.C. Doshi & Company |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
1.500 Million |
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Borrowed : |
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Total : |
1.500 Million |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
60.000 |
40.000 |
30.000 |
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LOCAL AGENCY
FURTHER INFORMATION
TRADE REFERENCE :
1] KSB Pumps limited, Pune
2] Kirloskar Abara Pumps Limits, Pune
3] Thyseen Krupp Industries (India) Private Limited, Pune
Website Details Attached
Company
Profile :
Subject are dealer & stockist of
Ferrous & Non Ferrous Industrial Raw Materials Since 1972. Our speaciality
in Stainless Steel Round, Square, Hex, Bright Bar. Concern are successfully
supplying to : Chemicals, Fertillizer and Prtrochemical Industries, Sugar &
Distillation Plants, Pumps & Valve manufactures, Engineering, Electrical
& Cement industries for their new Projects, Project expansion and routine
maintence.
Continuous improvement is a way of life a 'SURAJ' our knowledge of
international standard & speacifications. Expertise in workmanship and
responsibilities towards customer are the main elements of their mission.
Concern have very ambitious plan to expand their activities and further
building good source for improve quality and reduce costing with fasters
delivery. In the same time we at 'SURAJ' building up quality system in the line
of international standard.
QUALITY
POLICY
Quality Assurance System is being
followed in all their department and total quality management is applied to
streamline and all the procedures and practices are in operation to achieve
high standard of efficiency. Continuous efforts are being made for improvement
to give best quality products at the most affordable prices.
ASSURANCE
PLAN
Concern
overseas all important quality function and perform the following activities.
- Purchase order
review
- Document control
- Inspection and
testing
- Control of non
conforming product
- Corrective action
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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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.17 |
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UK Pound |
1 |
Rs.85.58 |
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Euro |
1 |
Rs.58.67 |
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 |
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 |
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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
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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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