MIRA
INFORM REPORT
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Report Date : |
22.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
MONGA AGENCIES |
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Registered Office : |
B-36/8, G T Karnal Road, Industrial Road, Delhi-110 006 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1983 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELM10359G |
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PAN No.: [Permanent
Account No.] |
AACFM6638A |
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Legal Form : |
Partnership concern with an unlimited liability of the partners. |
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Line of Business : |
Manufacture of Incense Stick and Hawan Samgri. |
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 44000 |
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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. Payment are usually correct and as per commitments. The concern can be considered normal for business dealings as usual trade
terms and conditions. |
LOCATIONS
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Registered Office : |
B-36/8, G T Karnal Road, Industrial Road, Delhi-110 006. |
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Tel. No.: |
91-11-23924232/ 32924064/ 65352328/ 23937060 |
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Mobile No.: |
91-9811263050/ 9810121380/ 9810158604/ 9310158604 |
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Fax No.: |
91-11-27135064 |
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E-Mail : |
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Area : |
415 sq. mtr. (Three Floors) |
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Location : |
Owned |
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Marketing Office : |
67022, Main Bazar, Khari Bawli, Delhi-110 006 |
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Tel. No.: |
91-11-23924232/ 23937060 |
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Fax No.: |
91-11-27135064 |
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E-Mail : |
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Area : |
45 sq. mtr. (Three Floors) |
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Location : |
Owned |
PARTNERS
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Name : |
Mr. Krishnan Gopal Monga |
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Designation : |
Partner |
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Date of Birth/Age : |
51 years |
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Qualification : |
Graduate |
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Experience : |
28 years |
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Name : |
Mr. Vijay Monga |
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Designation : |
Partner |
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Date of Birth/Age : |
45 years |
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Qualification : |
Graduate |
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Experience : |
22 years |
BUSINESS DETAILS
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Line of Business : |
Manufacture of Incense Stick and Hawan Samgri |
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Products : |
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Brand Names : |
Tridev |
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Agencies Held : |
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Exports : |
No Direct Exports (Subject wants to start Exports) |
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Products : |
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Countries : |
- |
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Terms : |
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Selling : |
Cash/Credit |
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Purchasing : |
Cash/Credit |
PRODUCTION STATUS
Capacity to increase production by: 30%
GENERAL
INFORMATION
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Suppliers : |
Own manufacturing (Purchase of raw material from the open market). |
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Customers : |
Khasaria Exports, Rohini , Delhi-110 085 Floroscent International Increment. Paharganj, Delhi-110 055 |
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No. of Employees : |
15 |
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Bankers : |
Axis Bank, Mayur Vihar, Phase- II, New Delhi. |
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Banking
Relations : |
- |
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Associates/Subsidiaries : |
Monga Perfumery and Flour Mills Address: 67022, Main Bazar, Khari Bawli, Delhi-110 006. Activity: Manufacture of Incense Stick and Hawan Samgri. STO: Rs.50.000 Millions. |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.11.000 Millions |
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Borrowed : |
- |
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Total : |
Rs.11.000 Miilions |
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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90.000 |
80.000 |
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Profit/Loss for the year |
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11% |
11% |
Expected Sales (2007-08) : Rs.150.000 Millions
LOCAL AGENCY FURTHER
INFORMATION
As per the web
details:
Established in 1983, subject is a
concern with diverse interests. Focused on rapid market penetration, they
supply highest quality products to their clients. The high quality standards of
their organization have shown us the way to accelerated growth and prosperity.
They offer premium quality of Agarbatti, Incense Sticks, Incense Cone, Dhoop,
Hawan Samagri and all types of Pooja Samagri. Their production operations
enable us to deliver volume orders on time, while stringent management
principles maintain their product standards at world-class levels. It is their
endeavor to understand their clients' need and offer them quality products to
meet their expectations.
Product Range
Their range of products includes:
·
Agarbatti
·
Incense
Sticks
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Incense
Cone
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Dhoop
·
Hawan
Samagri
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All
types of Pooja Samagri
Key Features
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International quality
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Competitive prices
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Efficient management
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Durability
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On-time delivery
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State-of-the-art infrastructure
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World class equipments
Quality
Their emphasis on quality has translated their
efforts into grand success. As a part of the global strategy, they regularly
upgrade the quality of the raw material through highest degree of purification,
accurate processing and precise packaging with stringent quality control
measures at every stage.
Their
Motto
Their motto, 'Good
Quality & Good Service', itself reveals their concern for maintaining high quality level.
Providing unmatched quality and excellent customer services at the most
competitive rates is their strategy. N
lity
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.39.41 |
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UK Pound |
1 |
Rs.81.37 |
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Euro |
1 |
Rs.58.56 |
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 |
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 |
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. |
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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