MIRA INFORM REPORT
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Report Date : |
12.05.2007 |
IDENTIFICATION DETAILS
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Name : |
SHREEJI SHRINK SYSTEM |
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Registered Office : |
G – 201 /202, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1999 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMS29162A |
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PAN No.: [Permanent
Account No.] |
AALFS8854M |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturers and Exporters of Quality wrapping material for various
applications. |
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 8000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a small concern having satisfactory track. Trade relations are fair. Payments are reported as slow but
correct. Management offered partial
details during our interaction. The concern is expected a major order from
its prospect. The concern can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office / Factory : |
G – 201 /202, |
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Tel. No.: |
91-22-25180378 / 0388 |
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Fax No.: |
91-22-25180398 |
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E-Mail : |
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Website : |
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Area : |
600 Sq. fts. |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Hiren Shah |
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Designation : |
Proprietor |
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Date of Birth/Age : |
36 years |
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Qualification : |
Graduate |
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Experience : |
12 years |
BUSINESS DETAILS
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Line of Business : |
Manufacturers and Exporters of Quality wrapping material for various
applications. |
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Products : |
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Terms : |
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Selling : |
Cash or Credit (30 days) |
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Purchasing : |
Cash or Credit (30 days) |
GENERAL INFORMATION
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Customers : |
End Users |
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No. of Employees : |
4 (Office:4; Other: - ) |
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Bankers : |
Corporation Bank, Ghatkopar, Mumbai |
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Facilities : |
The concern is reported to enjoy some facilities from its Banker. |
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Banking
Relations : |
Satisfactory |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 1.000 million |
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Borrowed : |
Rs. 1.000 million |
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Total : |
Rs. 2.000 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 |
6.000 |
5.000 |
4.000 |
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LOCAL AGENCY FURTHER INFORMATION
Website details Attached:
Subject is a renowned name in the field of manufacturing and
exporting of quality wrapping material for various applications. The company,
ably run by a team of hard core professionals, who have a comprehensive
knowledge of the industry, has made a place of international reckoning in the
manufacture and export of its products.
The company believes that innovation and improvement is an
ongoing process and invests heavily in Research and Development. This coupled with
strict adherence to highest quality control norms is taking the company from
strength to strength. They strive for unfailing reliability in all aspects of
their business in product, delivery, service, and support.
Concern enjoys reputation of safe and on-time delivery by
using strong packing material. With their well trained workforce utilizing the
latest technologies and exporting worldwide, they are leading the way in terms
of quality, service and innovation.
Their mission is to deliver quality wrapping material that
can satisfy the sophisticated and diverse tastes of today's consumers, to
strive for excellence and never be satisfied with the second best.
- Their Strengths:
Quality Assurance:
At, Concern, quality is of supreme importance. Their main objective is to
continuously improve on product quality thereby assisting their customers in
enhancing their product quality. Hence, each product is subjected to stringent
quality checks under the supervision of qualified professionals to ensure premium
quality. Continuous monitoring, sampling, testing of products and processes is
done to control the process variables within limits.
Foundation:
The organization boasts of a sophisticated infrastructure that consists of
latest machinery and other tools. They have state of the art manufacturing set
up. They have developed systems, processes, and procedures around the best
people to enable them to set quality standards that are unmatched. They have
engaged the best skilled people in the industry. This allows them to
continually improve upon their processes to better serve you. They believe that
education and training are the keys to maintaining their competitive advantage.
Their
Clientage:
They have not only earned a remarkable position in the
domestic market but also making their presence felt in the international market
too. They are appreciated for supplying superior quality products to their
clients all across the globe.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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. 40.93 |
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1 |
Rs. 81.20 |
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Euro |
1 |
Rs. 55.42 |
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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