MIRA
INFORM REPORT
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Report Date : |
26.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
SHESHA SCIENTI CHEM PRIVATE LIMITED |
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Registered Office : |
W – 89 A, Chikhloli, MIDC, Ambarnath, Thane 421 505, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2005 |
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Date of Incorporation : |
29.12.1988 |
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Com. Reg. No.: |
11-50203 |
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CIN No.: [Company
Identification No.] |
U24100MH1988PTC050203 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
PNES17041D |
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PAN No.: [Permanent
Account No.] |
AAECS2379F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Exporter of MS/SS Reactors, Drinking Water Plants, Distillation
Units, Condensers, Columns, Platforms, Furnaces, Binders, Alkyd Resin Plants,
Water Filters, H.P. Steam Pipe Lines, Storage Tanks, D.M.Plants, Vessels,
etc. |
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. |
Small |
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Maximum Credit Limit : |
USD 3300 |
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Status : |
Small Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a small and unknown Company. Trade relations are fair. No payment are available. It can be considered for small business dealings on safe and secured
trade terms and conditions only. |
LOCATIONS
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Registered Office : |
W – 89 A, Chikhloli, MIDC, Ambarnath, Thane 421 505, Maharashtra,
India |
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Tel. No.: |
91-251-2683201 |
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Fax No.: |
91-251-2683201 |
DIRECTORS
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Name : |
Mr. Shashikant G. Phal |
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Designation : |
Director |
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Mobile No. : |
91-9860734731 |
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Address : |
Laxmi Sagar 2nd floor, Sai Section, Ambarnath, Thane
421501, Maharashtra, Thane, Maharashtra, India |
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Date of Birth/Age : |
02.06.1945 |
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Date of Appointment : |
29.12.1988 |
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Name : |
Ranjana S. Phal |
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Designation : |
Director |
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Address : |
Laxmi Sagar 2nd floor, Sai Section, Ambarnath, Thane
421501, Maharashtra, Thane, Maharashtra, India |
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Date of Birth/Age : |
03.10.1953 |
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Date of Appointment : |
29.12.1988 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Shashikant G. Phal |
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35650 |
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Ranjana Shashikant Phal |
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5595 |
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Total |
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41245 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of MS/SS Reactors, Drinking Water Plants,
Distillation Units, Condensers, Columns, Platforms, Furnaces, Binders, Alkyd Resin
Plants, Water Filters, H.P. Steam Pipe Lines, Storage Tanks, D.M.Plants,
Vessels, etc. |
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Products : |
Ø MS/SS
Reactors Ø Condensers Ø Furnaces Ø Water
Filters Ø Carbon
Furnaces Ø Boilers Ø D.M.Plants |
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Exports : |
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Products : |
Ø MS/SS
Reactors Ø Condensers Ø Furnaces Ø Water
Filters Ø Carbon
Furnaces Ø Boilers Ø
D.M.Plants |
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Countries : |
Ø UAE Ø Nigeria Ø Singapore |
GENERAL
INFORMATION
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Customers : |
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No. of Employees : |
25 |
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Bankers : |
Not Available |
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Banking
Relations : |
-- |
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Memberships : |
Ø Water
Environment Federation (WEF) Ø Engineering
Export Promotional Council (EEPC) Ø Small Scale
Industries (SSI) |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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70000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.700 Million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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41245 |
Equity Shares |
Rs. 10/-
each |
0.412
Million |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2005 |
31.03.2004 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.412 |
0.412 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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0.415 |
0.483 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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0.827 |
0.895 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
0.000 |
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2] Unsecured Loans |
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0.706 |
0.461 |
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TOTAL BORROWING |
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0.706 |
1.356 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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1.533 |
1.356 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.288 |
0.322 |
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Capital work-in-progress |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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1.007 |
0.840 |
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Sundry Debtors |
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1.457 |
1.373 |
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Cash & Bank Balances |
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0.018 |
0.003 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
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0.000 |
0.000 |
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Total
Current Assets |
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2.482 |
2.216 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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1.237 |
1.182 |
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Total
Current Liabilities |
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1.237 |
1.182 |
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Net Current Assets |
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1.245 |
1.034 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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1.533 |
1.356 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2005 |
31.03.2004 |
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Sales Turnover (including other income) |
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0.553 |
1.315 |
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Total Income |
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0.553 |
1.315 |
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Profit/(Loss) Before Tax |
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0.032 |
0.037 |
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Provision for Taxation |
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- |
-- |
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Profit/(Loss) After Tax |
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0.032 |
0.037 |
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Expenditures : |
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Interest |
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0.021 |
0.021 |
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Depreciation & Amortization |
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0.000 |
0.000 |
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Other Expenditure |
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0.500 |
1.257 |
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Total Expenditure |
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0.521 |
1.278 |
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KEY RATIOS
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PARTICULARS |
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31.03.2005 |
31.03.2004 |
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PAT / Total Income |
(%) |
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5.78 |
2.81 |
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Net Profit Margin (PBT/Sales) |
(%) |
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5.78 |
2.81 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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1.15 |
1.45 |
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Return on Investment (ROI) (PBT/Networth) |
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0.03 |
0.04 |
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Debt Equity Ratio (Total Liability/Networth) |
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2.34 |
2.83 |
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Current Ratio (Current Asset/Current Liability) |
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2.00 |
1.87 |
LOCAL AGENCY
FURTHER INFORMATION
AS PER WEBSITE
DETAILS:
In the last 25 years of its existence, Subject has established a
strong foothold in the already competent market. They have, ever since their inception
in the year 1982, grown from strength to strength to carve a niche for
theirselves in this age of cut throat competition. Their company is a prominent
manufacturer and exporter of a comprehensive range of products
including MS/SS Reactors, Drinking Water Plants, Distillation Units,
Condensers, Columns, Platforms, Furnaces, Binders, Alkyd Resin Plants, Water
Filters, H.P. Steam Pipe Lines, Storage Tanks, D.M.Plants, Vessels, and more.
These products find immense application in a number of industries.
They take up turnkey projects of installation of these
products for their clients. Their A-grade products and efficient
services are greatly appreciated and have helped them build a strong client
base in both India and in rest of the world. They offer their produce at
competitive prices and deliver the consignments within the stipulated period of
time. Their goods are exported to countries like U.A.E., Nigeria and
Singapore, where they have been greatly appreciated. They are proud
members of some prestigious establishments such as Water Environment
Federation (WEF), Engineering Export Promotional Council (EEPC) and Small Scale
Industries (SSI).
Product Range
Shesha Scienti Chem Pvt. Ltd., has emerged as a prominent
manufacturer and exporter of a wide range of products. Backed by a rich
experience of 25 years, their company offers a gamut of products, which
include:
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MS/SS Reactors |
Drinking Water Plants |
Distillation Units |
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Condensers |
Columns |
Platforms |
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Furnaces |
Binders |
Alkyd Resin Plants |
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Water Filters |
H.P. Steam Pipe Lines |
Nutsch Filters |
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Carbon Furnaces |
Vessel |
Vessels with Valves |
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Boilers |
Storage Tanks |
R.O. Plants |
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D.M.Plants |
SS Ball Mills |
SS Gas Scrubber for Acid |
Quality Assurance
Customer satisfaction holds prime importance for them at
Shesha Scienti Chem Pvt. Ltd.; to an extent that all the policies framed in the
company are centered on it. Quality of the products plays an important role in
ensuring the same, since this is what makes the customers repeat their orders.
Therefore quality of the products is maintained at all levels, right from the
stage of production till the time the goods are dispatched.
Raw materials like MS, SS, pipes, valves, plates, etc, are of the highest
grade and are purchased from select suppliers having a reputed name in the
market. The finished goods are put through a series of tests like the DP test
and Hydro test, to make sure that only the best reaches their prestigious
clients. All national and international quality standards are religiously
adhered to at all stages.
Infrastructure...Their Strength
Subject takes pride in possessing a robust infrastructural set up.
Their infrastructural strength can be gauged from these features:
- A perfect amalgam of manpower and
machinery
- Production unit installed with the
latest modern technology and facilities
- Upgradation of machinery with the
latest techniques
- Regular investment to promote knowledge
in the area of technical development, research and production
- Functioning at low operating and
maintenance costs in order to come up with cost-effective solutions
- Keeping track of all latest
innovations in their sphere and incorporating the same.
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. 39.68 |
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UK Pound |
1 |
Rs. 81.95 |
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Euro |
1 |
Rs. 58.79 |
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 |
4 |
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OPERATING SCALE |
1~10 |
4 |
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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 |
4 |
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--CREDIT LINES |
1~10 |
4 |
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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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54 |
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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