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MIRA
INFORM REPORT
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Report Date : |
22.05.2007 |
IDENTIFICATION DETAILS
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Name : |
SURYA ENTERPRISES ( |
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Registered Office : |
B – 34, Lajpat Nagar – I, Opp. Defence Colony, Petrol Pump, Ground
Floor, New Delhi - 110024 |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
2000 |
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Legal Form : |
Sole proprietory Concern |
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Line of Business : |
Manufacturer and Trader dealing in road safety devices and traffic
sign boards. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 2400 |
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Status : |
Small concern |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively small concern having satisfactory track. Proprietor
is reported as experienced and respectable businessman. Trade relations are
reported as fair. Business is active. Payments are however reported as
usually correct and as per commitments. The concern can be considered for small business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
B – 34, Lajpat Nagar – I, Opp. Defence Colony, Petrol Pump, Ground
Floor, New Delhi - 110024 |
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Tel. No.: |
91-11-20093514/46575958/46575027 |
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Mobile No.: |
91-9810292834 |
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Fax No.: |
91-11-29817013 |
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E-Mail : |
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Area : |
300sq.fts |
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Location : |
Owned |
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SOLE PROPRIETOR
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Name : |
Mr. Swatantra Bharti |
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Designation : |
Proprietor |
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Mobile No : |
91-9810292834 |
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Date of Birth/Age : |
40 Years |
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Qualification : |
Post Graduate |
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Experience : |
18 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Trader Dealing in road safety devices and traffic
sign boards. |
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Products : |
Roadway Management, Light Blinkers, Traffic Safety Management, Road
Studs, Mandatory Signs, Delineators, Lighted Bollard, Guard Rail Reflectors,
Reflective Safety Belts, Reflectors, Cone, post, Non Lighted Bollard,
Reflective Safety dress, Speed Retarder Plastic, Cautionary Signs, Clamp
Delineators, Light Batons |
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Terms : |
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Selling : |
Cash or 30 to 45days Credit |
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Purchasing : |
Cash or 30 days Credit |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
8 |
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Bankers : |
Lord Krishna Bank, Lajpat Nagar, |
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Facilities : |
No overdraft |
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Banking
Relations : |
Satisfactory |
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CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.0.600 million |
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Borrowed : |
- |
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Total : |
Rs.0.600 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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2.600 |
2.200 |
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Gross Profit |
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13% |
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Profit After Tax |
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7 to 8% |
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Expected Sales (2007-08) : Rs.3.000 millions
LOCAL AGENCY FURTHER INFORMATION
Future programs of
company:
Wants to start Export
Production:
Capacity to increase production by 25%
Web Site Details:
Company
profile:
Subject is a manufacturer and trading
company dealing in road safety devices and traffic sign boards. Committed to
the philosophy of continuous innovations, their focus has always been on
developing products for Indian and International environments. User friendliness,
ease of operation, longer service life, ease of maintenance and cost
effectiveness is some of the values that guide their research and development
efforts.
Products
They
are engaged in the manufacturing of the following products:
- Road Studs
- Delineators
- Guard Rail
Reflectors & Reflectors
- Cone &
Post
- Reflective
Safety Jackets/Belts/Dress
- Clamp
Delineators/Light Batons/Blinkers
- Lighted &
Non Lighted Bollard
- Cautionary
Signs
Quality
Their road
safety products are manufactured in-house with the highest quality standards.
Their designs are custom modified to suit the requirements of their customers,
are attractive with maximum reflective visibility and tamper resistant keeping
in view the outdoor application of the products. Their team of technical
experts and specialized equipment ensures total Quality Assurance and
Performance to the complete satisfaction of their valued customers.
Infrastructure
In a
rapid changing market, they keep pace with new developments and innovations in
their products portfolio to offer materials suitable for convectional and
specialized application methods of International standards. KMGS is committed
to working closely with their valued clients towards achieving the standards of
high performance that are increasingly being specified by MORTH, IRC, BS, EN,
NHAI and other respective authorities.
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.40.64 |
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1 |
Rs.80.17 |
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Euro |
1 |
Rs.54.74 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
4 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
4 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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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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30 |
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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