MIRA
INFORM REPORT
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Report Date : |
21.05.2007 |
IDENTIFICATION DETAILS
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Name : |
UTPAN CHEMPRO |
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Registered Office : |
Heritage Plaza, 101-B Wing, 1st Floor, Teli
Galli Cross Lane, Nityanand Nagar, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1987 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMU04166B |
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PAN No.: [Permanent
Account No.] |
AAAFU0227D |
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Legal Form : |
Partnership concern with an unlimited liability of the partners. |
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Line of Business : |
Manufacturers of Textile Auxiliaries and Optical Whitening Agents |
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 20000 |
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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 satisfactory track. Trade relations are fair. Payments are usually correct and as per
commitments. The concern is faring well. It can be considered normal for business
dealings at usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
Heritage Plaza, 101-B Wing, 1st Floor, Teli
Galli Cross Lane, Nityanand Nagar, |
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Tel. No.: |
91-22-2682 5904
& 06 |
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Fax No.: |
91-22-2682 8314 |
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E-Mail : |
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Website : |
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Area : |
600 sq. ft. [Owned by concern] |
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Factory 1 : |
Selvasa, |
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Area : |
10000 sq. ft. [Owned] |
PARTNERS
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Name : |
Mr. Jagdish Jhonsa |
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Designation : |
Partner |
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Date of Birth/Age : |
52 Years |
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Qualification : |
Diploma Engineer |
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Experience : |
30 Years |
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Name : |
Mr. Jayesh Shah |
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Designation : |
Partner |
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Name : |
Mrs. Amita Jhonsa |
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Designation : |
Partner |
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Name : |
Mrs. Bijal M. Shah |
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Designation : |
Partner |
BUSINESS DETAILS
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Line of Business : |
Manufacturers of Textile Auxiliaries and Optical Whitening Agents |
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Exports : |
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Products : |
Textile Auxiliaries and Optical Whitening Agents |
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Countries : |
Europe and |
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Terms : |
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Selling : |
Cash |
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Purchasing : |
Cash |
GENERAL INFORMATION
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No. of Employees : |
15 [In Office : 5 and In Factory : 10] |
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Bankers : |
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Facilities : |
-- |
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Banking
Relations : |
Satisfactory |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 5.000 Millions |
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Borrowed : |
-- |
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Total : |
Rs. 5.000 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
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Particulars |
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31.03.2007 |
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Sales Turnover |
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40.000 |
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LOCAL AGENCY FURTHER INFORMATION
AS PER WEBSITE
Subject
Speciality Chemicals features one semi automated plant
located at Vapi,
The company produces the finest quality Textile
Auxiliaries & Optical Whitening Agent.
An in house R&D Department constantly monitors and develops finer
derivatives, which meets the highest international quality requirements. It is
produced in suitable half to 1 metric tonne each, assuring consistency of
quality. Their products are delivered with strict quality control and only if
it meets with their uncompromising standard of absolute excellence.
When one considers the growth of subject
Speciality Chemicals, one may be compelled to remark. "So much
success in so little time!" But for the company its rapid
progress was only to be expected. For, although it was incorporated as recently
as in 1987, the company has a vast experience and background in the dyes &
chemicals industry.
They produce Whiteners which are used by Textile,
Paper, Detergent & Polymer
Industries (Including all types of substance like cotton, wool,
silk, nylon, polyester, acrylics, regenerated fibres etc.).
They have team of professional technocrats who specialise in
their respective fields like R&D, Production, Marketing, Engineering etc.
to effectively deliver the results.
They can develop any tailor made products suitable to the
user requirements, through R&D network.
Round The Clock Production for Round The World Markets
The sterling performance of their products has today placed
it in the centre of the world market. Demand keeps pouring in from all sides of
the globe. Textile industries, particularly from
A White Which Wins With Flying Colours
The fact takes on yet another favourable dimension when one
considers the competitive aspect. Competitive pricing, timely deliveries and
excellent quality. Three features of their product which have earned them a
place in the good books of textile industries, the world over.
Their products and plant which is designed to meet
environmental stipulations, & pollution of any kind is forbidden. It is all
a part of their responsibility toward the world and the future.
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.40.60 |
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1 |
Rs.80.13 |
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Euro |
1 |
Rs.54.87 |
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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