MIRA
INFORM REPORT
|
Report Date : |
20.03.2007 |
IDENTIFICATION
DETAILS
|
Name : |
POLYMER TECHNOLOGISES |
|
|
|
|
Registered Office : |
Block 301,Of village Sim of Dabhasa,Tal. Padra, Dist:Baroda:391440 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
-- |
|
|
|
|
Date of Incorporation : |
30.08.1999 |
|
|
|
|
Com. Reg. No.: |
0418/02085 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
BRDP01143C |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AADFP5017B |
|
|
|
|
Legal Form : |
Partnership concern with an unlimited liability of the partner |
|
|
|
|
Line of Business : |
Manufacture of chemical |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
|
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow and Delayed |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
The Concern is no more active at the given address of 15-C Gandhi, Oil
Mill Compound, Near Industrial Estate, Gorwa, Vadodara 390016. Management of the concern remained non-cooperative during current
investigation they are keen to know the inquirer’s name. They have become suspicious about our inquiry. The concern appear to be an established concern but it’s financial
states and operation details are not known. It’s payments are reported as slow and delayed . In view of the aforesaid, it would be advisable to deal with the
concern secured trade terms and conditions initially. However, we are trying hard for more information and if available, it
will follow soon. In the meantime, it is advisable to. |
LOCATIONS
|
Registered Office/ Branch : |
Block No . 301 Of Village, Sim Of Dabhasa, Tal.Padra,
Dist:Baroda:391440 |
|
Tel. No.: |
91-265-2280433 |
|
Mobile No.: |
91-9825034577 |
|
Fax No.: |
91-265-2281387 |
|
Area : |
Medium sized |
|
Location : |
Owned |
DIRECTORS
|
Name : |
Shri. Jagrat N.Dave |
|
Designation : |
Partner |
|
Address : |
204/B Shilp Avenue B/H Tube Co.Old, Padra Road, Baroda, Pin:390015 |
|
Phone: |
91-0265-391933 |
|
|
|
|
Name : |
Mr. Natvarm D. Dave |
|
Designation : |
Partner |
|
Address : |
204/B Shilp Avenue B/H Tube Co.Old, Padra Road, Baroda, Pin:390015 |
|
Phone : |
91-0265-391933 |
|
|
|
|
Name : |
Shri Alleluia Ernest D Costa |
|
Designation : |
Partner |
|
Address : |
Ernest D Costa, 147 Sarabhai Soc. Fatehgunj, Baroda:390002 |
|
|
|
|
Name : |
Shri Sudhir B. Nambiar |
|
Designation : |
Partner |
|
Address : |
104/c Shilp Avenue B/H Tube Co old Padra Road Baroda:390015 |
|
Phone: |
91-0265-33544 |
|
|
|
|
Name : |
Shri Bhaskaran Nambiar |
|
Designation : |
Partner |
|
Address : |
104/c Shilp Avenue B/H Tube Co old Padra Road Baroda:390015 |
|
Phone: |
91-0265-33544 |
BUSINESS DETAILS
|
Line of Business : |
Manufacture of chemical |
|
|
|
|
Exports : |
|
|
Products : |
Chemicals |
|
Countries : |
Europe and Far East |
|
|
|
|
Imports : |
|
|
Products : |
Raw Materials |
|
Countries : |
Germany |
|
|
|
|
Terms : |
|
|
Selling : |
L/C and Credit of 30 days |
|
|
|
|
Purchasing : |
L/C and Credit of 30 days |
GENERAL
INFORMATION
|
No. of Employees : |
Total:20 (Office:2; Factory:18) |
|
|
|
|
Bankers : |
Union Bank of India Sayajiganj Branch, Bandra, |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
Unknown |
|
|
|
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Not Divulged |
|
Borrowed : |
-- |
|
Total : |
-- |
FINANCIAL DATA
[all figures are in Rupees Millions]
Sales Estimated around Rs.30.000 to 40.000 Millions
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, 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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.43.98 |
|
UK Pound |
1 |
Rs.85.59 |
|
Euro |
1 |
Rs.58.49 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
2 |
|
--MARGINS |
-5~5 |
|
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
24 |
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 |
|