MIRA
INFORM REPORT
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Report Date : |
18.05.2007 |
IDENTIFICATION DETAILS
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Name : |
MATESHWARI MINERALS |
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Registered Office : |
R/O Savita Colony, Near Vaishnav Engineering, Nimbahera, Chittorgarh –
312 601, Rajasthan, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
2004 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturers of Industrial Minerals, Lime Stone 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 4000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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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 dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
R/O Savita Colony, Near Vaishnav Engineering, Nimbahera, Chittorgarh –
312 601, Rajasthan, |
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Tel. No.: |
91-1477-221111 |
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Fax No.: |
91-1477-223222 / 221111 |
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E-Mail : |
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Website : |
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Area : |
4 acres 200 Sq. mtrs. |
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Location : |
Owned |
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Factory : |
Nimbahera, Chittorgarh, |
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Area : |
1617 Sq. mtrs. |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mrs. Manju Tak |
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Designation : |
Proprietor |
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Address : |
Chittorgarh, |
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Date of Birth/Age : |
25 years |
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Qualification : |
Graduate |
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Experience : |
5 years |
BUSINESS DETAILS
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Line of Business : |
Manufacturers of Industrial Minerals, Lime Stone Chemicals, etc |
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Products : |
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Exports to: |
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Terms : |
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Selling : |
Cash or Credit (30 days) |
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Purchasing : |
L/C, Cash or Credit (30 days) |
PRODUCTION STATUS
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Particulars |
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Actual
Production |
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Industrial Minerals |
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As per Demand |
GENERAL INFORMATION
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Customers : |
Retailers |
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No. of Employees : |
29 (office: 4; Factory: 25) |
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Bankers : |
Bank of Rajasthan Chittorgarh, |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Bhupinder Palidar and Company Chartered Accountants |
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Address : |
Chittorgarh, |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.1.000 million |
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Borrowed : |
-- |
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Total : |
Rs.1.000 million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
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Particulars |
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31.03.2007 |
31.03.2006 |
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Sales Turnover |
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2.700 |
2.625 |
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Profit for the year |
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0.230 |
0.220 |
Group Turnover: Rs. 120.000 millions
Projected Turnover for Current year (2006 -07): Over Rs. 5.000 millions
LOCAL AGENCY FURTHER INFORMATION
Trade References:
- MD. Sherkhan,
Chittorgarh
- Inani and
Company, Chittorgarh
- Inani
Marbles, Chittorgarh
Website details Attached:
Limestone, quartz, feldspar, etc. are some of the basic
minerals that are used for construction and other industrial purposes. Subject
has reckoned a distinguished position in the market delivering world-class and
flawless minerals to its esteemed clients. They are an eminent and a renowned exporter
and supplier of Feldspar, Silica Sand, China
Clay, Lime Stone and other Industrial Minerals. Their minerals are available in
attractive shades and textures in hushed tones of multicolor, white, grey,
mustard, brown and many more. Their corporate entity is well-acknowledged for
its products due to the high durability and reliability factor attached to
them. This leads to their immense popularity and respect in the eyes of their
clients, who matter the most to them.
Being a
customer oriented firm, their mission remains incessant efforts to deliver the
best to sustain the faith of their clients on them. Besides, they also endeavor
to procure innovative and improved products, so as to maintain their hold in
this industry. This gives them a competitive edge over the others in the same
arena and helps them stay a step ahead of them. Their ceaseless efforts to keep
abreast with the changing trends and commendable support of their customers
have elevated their status.
The specialty of their products is that they are procured, keeping in mind the
valuable feedback and suggestions given to us by their worthy clients. Their
products are the real representation of their company and they enable in their
positive image formation in the marketplace, leading to their growth and
advancement. They are a distinguished exporter and supplier of:
- Quartz
- Feldspar (Lumps and Powder Form)
- Silica Sand
- China Clay
- Lime Stone( High Grade)
- Lime Stone (Decorative)
- Lime stone (2.5 inch tiles)
- Other Industrial Minerals.
Setup:
They possess a team of experienced and diligent employees, who are the real
assets for them, which assist them explore new horizons, thereby opening up all
the avenues of success for them. Their
proficient staff is equipped with the skill and experience to source the best
products from reputed mineral manufacturers. Besides, regular training and
interaction sessions are conducted for their workforce, leaving no room for
customer grievances. In a word, their infrastructure is a pure blessing for
them, which helps them reach new heights.
Quality:
They give complete emphasis to the quality of their products, because this is
one of the most important factors that separate them from the others engaged in
the same business. Stern and stringent quality checks from the sourcing stage
till the final delivery of their products ensure a refined quality product.
Thus, sophisticated and unmatched quality product forms the trademark of their
corporate entity. Their aim remains procurement of superior quality minerals at
the advantage of their valued clients.
The
subject is because....
- Complete
customer satisfaction
- Long lasting
relationship with our clients
- Stable
infrastructure to back our operations
- Premium
quality products at competitive prices
- Wide
distribution network.
Primary Competitive Advantages:
- Reasonable Prices
- Flawless quality products
- Timely Delivery
- High-end Customer satisfaction
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. 40.90 |
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1 |
Rs. 80.78 |
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Euro |
1 |
Rs. 55.18 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
3 |
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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 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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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 |
NO |
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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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43 |
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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