MIRA
INFORM REPORT
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Report Date : |
20.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
AJIT CHEMICALS INDUSTRIES |
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Registered Office : |
Plot No: 136/8, Near Bharat Compound, 2nd
Phase, GIDC, Vapi - 396191, Gujarat |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
2003 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
SRTA02734E |
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PAN No.: [Permanent
Account No.] |
AAKFA3336P |
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Legal Form : |
Partnership concern with an unlimited liability of the partners. |
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Line of Business : |
Manufacturer,
importer, exporter, trader and distributor of chemical solutions,
industrial chemicals, petro chemicals and water treatment chemicals etc. |
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 15000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established concern having almost steady business. Trade
relations are fair. General financial position is satisfactory. Payments are
usually correct and as per commitments. Nothing adverse reported. The concern can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office / Factory : |
Plot No: 136/8, Near Bharat Compound, 2nd
Phase, GIDC, Vapi - 396191, Gujarat, India |
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Tel. No.: |
91-260-6540767 |
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Mobile No.: |
91-9374992202 |
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Fax No.: |
91-260-2401383 |
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E-Mail : |
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Area : |
2000 sq. mtrs. |
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Location : |
Owned |
PARTNERS
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Name : |
Mr. Dhawal Shah |
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Designation : |
Partner |
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Date of Birth/Age : |
25 Years |
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Qualification : |
Post Graduate |
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Experience : |
2 Years |
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Name : |
Mrs. Neeta Bhandari |
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Designation : |
Partner |
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Date of Birth/Age : |
35 Years |
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Qualification : |
Graduate |
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Experience : |
12 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer,
importer, exporter, trader and distributor of chemical solutions,
industrial chemicals, petro chemicals and water treatment chemicals etc. |
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Products : |
Chemical solutions, industrial chemicals,
petro chemicals and water treatment chemicals like: Ø
Aniline Oil Ø
Sodium Nitrate Ø
Toulene DI Isocynate (TDI) Ø
Sodium Nitrite Ø
Nitrobenzene Ø
Sodium Silicate-
Solid/Liquid Ø
Ortho Toluene DI Amine
(OTD) Ø
Activated Carbon
(Powder/Granules) Ø
Meta-Toluene Diamine (MTD) Ø
Alum (Ferric and
Non-Ferric) min. 17 % A1203 Ø
Acetic Acid (Glacial) Ø
Ammonium Bifluridem Ø
Aluminium Fluoride 95 % Ø
Bleaching Powder 35 %
Stable Ø
Aluminium Hydroxide Ø
Hydrogen Peroxide 35 % to
50 % Ø
Aniline Oil - 99.5 % min. Ø
Poly Aluminium Chloride
(PAC) Ø
Calcium Chloride Flakes Ø
Sodium Silicate
Solid/Liquid Ø
Caprolactam Flakes Ø
Para Dichro Benzene (PDCB) Ø
Caustic Soda Flakes/Prills Ø
Ethylene and Propylene
Glycol Ø
Ethyl Acetate Ø
Monoethylene Glycol Ø
Formic Acid-85 % Ø
Di-ethylene Glycone Ø
Industrial Salt Ø
Tri-ethilene Glycol Ø
Melamine Ø
Mono Proplene Glycol Ø
Nitrobenzene Ø
Ethyl Glycol (EG) Ø
Oxalic Acid Ø
Tetra N Butyl Titanate
Monomer Ø
Potassium Carbonate (KCN)
Granul Ø
Butyl Isopropyl Titanate Ø
Potassium Hydroxide (KOH) Ø
TIPT/TNBT Ø
Calcium Hypo Chlorite 65%
to 70 % Chlorine in Returnable/Non-returnable Cylinders. Ø
Titanium Acetyl Acetonate
(TAA) |
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Exports : |
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Products : |
Industrial Chemicals Water Treatment Chemicals Benzene Base Chemicals |
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Countries : |
USA, Middle East, Turkey, UK, Africa,
Canada, Bangladesh, Sri Lanka and many other parts of the world |
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Imports : |
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Products : |
Raw Material |
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Countries : |
China, Korea and Thailand |
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Terms : |
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Selling : |
L/C |
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Purchasing : |
L/C |
GENERAL
INFORMATION
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Customers : |
End Users |
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No. of Employees : |
5 |
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Bankers : |
ICIC Bank Vapi Gujarat |
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Facilities : |
Cash Credit Rs. 2.000 Millions |
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Banking Relations
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Satisfactory |
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Auditors : |
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Name : |
Hemant Pant and Company Chartered Accountants |
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Address : |
Vapi, Gujarat, India |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 1.500 Millions |
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Borrowed : |
Rs. 2.000 Millions |
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Total : |
Rs. 3.500 Millions |
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 |
30.000 |
35.000 |
25.000 |
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Import Value |
2.500 |
NA |
NA |
Expected Sales (2007-08) : Rs. 40.000 Millions
LOCAL AGENCY
FURTHER INFORMATION
Trade Reference
Purchase Department, Pidilite Industries Limited, Mumbai
Purchase Department, Alok Industries Limited, Vapi
Purchase Department, United Phosphorous Limited, Vapi
Chemicals
are the important ingredients of many industries such as Pharmaceuticals, Dyes,
Pigment, Textile, Bulk Drugs, etc. Everyone wants superior quality as any
compromise will result into faulty production. Ajit Chemicals Industries is a renowned manufacturer, importer, exporter, trader and distributor of superlative chemicals
such as Sodium Chloride (salt), Pervalizer Salt (40 to 350 Mesh Size),
Industrial Vacuum Salt, Vacuum Superfine Salt, Pharma Grade Salt, Tablet Salt,
Detergent Grade Salt, Low Hardness Salt (up to 120 ppm @ 80 GPL), etc. Backed
up by a team of highly qualified workforce and outstanding infrastructural
capabilities, the company has earned a reputable status in the same discipline
by manufacturing excellent chemical solutions for diverse industrial needs.
At every level, they are managed by hard core professionals having sound
knowledge in their respective field. Their unparalleled quality, wide
distribution network and expertise in manufacturing superior products has
helped them gain recognition in both the domestic and global market. Their
export markets are in Middle East, Turkey, UK, South Africa, Canada, Sri Lanka
and many other parts of the globe. Their quality attracts majors like Chemicals
Industries, Bulk Drugs Industries and many other noted names of diverse
industries.
They are specialized in Pervalizer Salt (40 to 350 Mesh size). Their products
find immense application in chemical, pharma and detergent industries.
Personalized Service
The company is backed up by a team of dynamic and highly experienced
professionals who are capable of delivering superior customized service to its
esteemed clients. Their highly trained workforce is competent enough to provide
easily accessible and responsive service as per the specific requirement of the
clients.
Quality
Superior quality is the primary concern at Ajit Chemicals. They believe in
total consumer satisfaction in terms of product quality and service. Every step
in the manufacturing process is strictly monitored by a team of highly
experienced chemists assuring the production of superior chemicals. They employ
latest standardized machinery in order to execute every task efficiently and
smoothly to cater the quality savvy client. Their advanced laboratory is well
equipped with latest testing equipments that ensures the delivery of only
excellent products.
Services
Sales
Ajit
Chemical Industries is a global manufacturing, trading and distribution company
in the field of industrial chemicals, water treatment chemicals. They add
measurable value to both their suppliers and customs by providing services such
as Sourcing, Marketing, Sales, Transportation and Stock Distribution.
Marketing
Their
goal is to become a natural choice for procurement intelligent marketing and
sourcing services for their exciting and future partners in the chemicals
industry ranging from multinationals to local end users around the world.
Distribution
Their
team of logistics professionals assists suppliers and customers with seamless
access to traditional and emerging markets under variety of contracts. They can
purchase any chemical from any part of India on the part of their client and
deliver it to any part of the world.
Transportation
Their
operation staff co-ordinates and micro manages logistics of all transaction
making sure that each cargo is delivered with contractual requirement.
Sourcing
Ajit Chemicals
is capable of smooth worldwide sourcing of the products. They turn
international sourcing into an easy process for all their partners by making
remote resources as accessible as a nearby stone.
Infrastructure
They
are well supported by excellent infrastructural facilities. Their highly
qualified workforce coupled with ultra modern machinery facilitates the
manufacturing of world class chemicals. They employ Swiss technology while
manufacturing their products. Their expertise in delivering unmatched products
and capability to ensure timely delivery provide them a better platform than
the other players in the similar arena.
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.43.63 |
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UK Pound |
1 |
Rs.85.58 |
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Euro |
1 |
Rs.58.08 |
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 |
YES |
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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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