MIRA
INFORM REPORT
|
Report Date : |
28.03.2007 |
IDENTIFICATION
DETAILS
|
Name : |
SIGMA CHEM |
|
|
|
|
Registered Office : |
Plot No. 1/6, Road No. 15, IDA, Nacharam, Hyderabad – 500076. Andhra
Pradesh. |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2006 |
|
|
|
|
Date of Incorporation : |
1998 |
|
|
|
|
Legal Form : |
A Sole Proprietory Concern |
|
|
|
|
Line of Business : |
Manufacture of Chafing Fuel, Indelible Ink, Indelible Market Pen, Air Freshener
and Cleaning Materials Like Floor Cleaner, Hand Wash , Soap Liquid etc. |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 15000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well-established and reputed concern having satisfactory
track. Proprietor is reported as experienced and respectable businessman.
Trade relations are reported as fair. Business is active. Payments are
usually correct and as per commitments. The concern can be considered normal for business dealing at usual
trade terms and conditions. |
LOCATIONS
|
Registered Office : |
Plot No. 1/6, Road No. 15, IDA Nacharam, Hyderabad – 500076. Andhra
Pradesh. |
|
Tel. No.: |
91-40-27154523 /32003385/ 65916968 |
|
Mobile No.: |
91-9391006968 |
|
Fax No.: |
91-40-27154523 |
|
E-Mail : |
sigmachem@hotmail.com |
|
Area : |
1212 Sq Ft. |
|
Location : |
Owned |
|
|
|
SOLE PROPRIETOR
|
Name : |
Mr. T Mahendra K. Reddy |
|
Designation : |
Proprietor |
|
Address : |
3-4-114/A/3, Saichitra Nagar, Lane No. 3, Ramanthapur, Hyderabad –
500017. |
|
Date of Birth/Age : |
17.04.1963 |
|
Qualification : |
Graduate |
|
Experience : |
4 yrs |
BUSINESS DETAILS
|
Line of Business : |
Manufacture of Chafing Fuel, Indelible Ink, Indelible Market Pen, Air
Freshener and Cleaning Materials Like Floor Cleaner, Hand Wash , Soap Liquid
etc. |
|
|
|
|
Products : |
Chafing Fuel Indelible Marker Pen Dish Warmer Chafing Solid Fuel Chafing Gel Fuel etc. |
|
Exports : |
|
|
Products : |
|
|
Countries : |
Nepal |
|
|
|
|
Terms : |
|
|
Selling : |
Cash Or Credit ( 30 days) |
GENERAL
INFORMATION
|
Customers : |
|
|
|
|
|
No. of Employees : |
25 |
|
|
|
|
Bankers : |
Vijay Bank Mozamjahi Market Branch, Hyderabad. |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking Relations
: |
Satisfactory |
|
|
|
|
Auditors : |
|
|
Name : |
N.C. Shastri Chartered Accountant |
|
Address : |
Hindi Mahavishva Vidyalaya, Shivam Road, Hyderabad. |
|
Tel. No.: |
91-40-30423043 |
|
|
|
|
Memberships : |
Camber of Commerce |
|
|
|
|
Associates : |
Satyasai Enterprises Nacharam Marketing of Various Products Sigma Agencies Nacharam Marketing of Various Products |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Rs.3.700 millions |
|
Borrowed : |
-- |
|
Total : |
Rs.3.700 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
|
Particulars |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
Sales Turnover |
9.000 |
9.000 |
9.000 |
|
|
|
|
|
|
Profit/Loss for the year |
NA |
NA |
NA |
|
|
|
|
|
|
Export Value |
NA |
NA |
NA |
|
|
|
|
|
|
Import Value |
NA |
NA |
NA |
LOCAL AGENCY
FURTHER INFORMATION
As per website
Sigma Chem is a leading manufacturer and exporter of Chafing Fuel (Dish Warmer), Indelible Ink, Indelible
Marker Pen, Air Freshener and
Cleaning Materials like Floor Cleaner, Hand Wash Soap Liquid, Glass Cleaner etc.
Established in the year 1998,
they are dedicated to deliver premium quality
products at the most opportune time and competitive prices. The company is
committed to serve you better every time with improved and innovated products.
Products
Sigma Chem is engaged in the production and export of Chafing Fuel (Dish
Warmer) in bulk quantities for easy application of food used in the Hotel
Industry and Corporate Catering Services with
international quality standards for different countries. At the same time their
Indelible Ink Pens are applied for easy election purposes and exported to different countries.
Infrastructure
The company houses the most sophisticated and modern
machinery equipments in its state of art premises. They are committed to
deliver the premier and therefore their research and development department
invariably is engaged in the exhaustion of its creativity. The strict quality
control management of their company avoids the occurrence of any discrepancy.
They shelter an efficient team of well qualified professionals whose dedication
and diligence is Paramount and indispensable for any company to make its mark
in the market.
Product
Features
- Smoke and
odour less
- Strong safety
measures and pollution control system
- Statistical
quality control methodology
- 99% optimum
operational methodology
- Superior
quality with international standards
- Specially
indelible Ink Pen to avoid spilling, leakage & easy handling
- Strong and
updated infrastructure enables us to provide bulk production along with
consistent quality.
Their Handy Gel Fuel,
Handy Wick Fuel, Chafing Gel Fuel, Chafing Solid Fuel, Indelible Ink, Indelible
Marker Pen, Air Freshener and Cleaning Materials like Floor Cleaner, Hand Wash
Soap Liquid, Glass Cleaner and Toilet Cleaner are
exported to different countries worldwide and proudly match all the parameters
of high standards and quality.
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.43.59 |
|
UK Pound |
1 |
Rs.85.53 |
|
Euro |
1 |
Rs.58.14 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
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
|
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 |
|