MIRA
INFORM REPORT
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Report Date : |
27.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
UNIVERSAL GEAR INDUSTRIES AND ENGINEERING WORKS |
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Registered Office : |
23, The Mall Road, Kolkata – 700 080, West Bengal |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1974 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturers of quality hot rolling mill for wire rod, deformed
bars and all types of section mills. |
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 30000 |
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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 can be considered good for normal business dealings at
usual trade terms and conditions |
LOCATIONS
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Registered Office : |
23, The Mall Road, Kolkata – 700 080, West Bengal, India |
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Tel. No.: |
91-33-25591304 / 25512263 |
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Fax No.: |
91-33-25595924 |
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E-Mail : |
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Website : |
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Area : |
Owned |
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Location : |
17500 Sq. fts. |
SOLE PROPRIETOR
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Name : |
Mr. P. C. Kapoor |
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Designation : |
Proprietor |
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Address : |
23, The Mall, Kolkata – 700 080 |
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Date of Birth/Age : |
1932 |
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Qualification : |
B.E. (Mechanical) |
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Experience : |
42 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturers of quality hot rolling mill for wire rod,
deformed bars and all types of section mills. |
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Products : |
˜ Rolling mill plant ˜ Gear Boxes ˜ Pinion Stands ˜ Shearing Machines ˜ Gear Couplings ˜ Different types of mill stands ˜ Roller Bearing Stand ˜ Tilting Tablets ˜ “Y” Table, Pushers ˜ Ejectors |
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Exports : |
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Products : |
˜ Rolling mill plant ˜ Gear Boxes ˜ Pinion Stands ˜ Shearing Machines ˜ Gear Couplings ˜ Different types of mill stands ˜ Roller Bearing Stand ˜ Tilting Tablets ˜ “Y” Table, Pushers ˜ Ejectors |
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Countries : |
Ø Bangaldesh Ø Africa Ø Middle east Ø South East Asia |
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Imports : |
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Products : |
Ø Raw material Ø Machinery |
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Countries : |
Ø Japan Ø Germany |
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Terms : |
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Selling : |
L/C, Cash, Credit, T/T |
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Purchasing : |
L/C, Cash, Credit and T/T |
GENERAL
INFORMATION
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Suppliers : |
˜ Bharat Forge Limited ˜ Tikmani Forge Private Limited ˜ Universal Forge Limited |
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Customers : |
˜ AHW Steel Private Limited, Kolkata, West Bengal ˜ Bajrangbali Alloy Private Limited, Cuttack, Orissa ˜ Balaji Industrial Corporation Limited, Nellore, Andhra Pradesh ˜ Brahamputra Iron & Steel Company Private Limited, Guwahati, Assam ˜ Concast Ispat Limited, Kolkata, West Bengal ˜ Electrosteel Casting Limited, Kolkata, West Bengal ˜ Elegant Commerce Limited ˜ Esab India Limited, Kolkata, West Bengal ˜ IFB Industries Limited, Kolkata, West Bengal ˜ J M G Steel Private Limited, Patna, Bihar ˜ K R Steel Union Limited, Kalyani ˜ Mahalakshmi Steel, Bokaro ˜ Muzaffarpur Thermal Power Station ˜ Nisco Limited, Belur ˜ Rathi Transpowr Private Limited, Pune, Maharashtra ˜ Rourkela Steel Plant, Rourkela ˜ Shree Sanyeeji Ispat Limited, Guwahati, Assam ˜ Shyama Steel Limited, Kolkata, West Bengal ˜ SPS Metal & Alloy Steel Private Limited, Durgapur, West Bengal ˜ Steel Authority of India Limited ˜ Elite Iron & Steel Industries Limited, Bangladesh ˜ Rahim Steel Private Limited, Bangladesh ˜ Safiul Alam Steel Mills, Bangladesh ˜ Salam Steel Mill, Bangladesh ˜ Al Bahri Trading Est, Dubai ˜ Kosala Iron & Steel Private Limited, Nepal ˜ Hiat Steel Private Limited, Sri Lanka ˜ Sembule Steel Mills Limited, Uganda |
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No. of Employees : |
65 |
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Bankers : |
˜ Allahabad Bank, SSI Finance, Red place, Kolkata – 700 001, West Bengal ˜ The Hong Kong & Shanghai Banking Corporation Limited, 31, BBD Bag, Kolkata – 700 001, West Bengal ˜ Oriental Bank of Commerce, Sagar Estate, 2, N C Dutta Sarani, Kolkata |
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Facilities : |
Rs. 10.000 Millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
S. Jaikishan Chartered Accountant |
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Address : |
Kolkata, West Bengal |
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Associates/Subsidiaries : |
˜ Yash Rolling Equipments Private Limited |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
NA |
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Borrowed : |
NA |
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Total : |
NA |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE SHEET
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SOURCES OF FUNDS |
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31.03.2007 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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7.693 |
5.833 |
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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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0.000 |
0.000 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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7.693 |
5.833 |
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LOAN FUNDS |
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1] Secured Loans |
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0.814 |
3.187 |
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2] Unsecured Loans |
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0.000 |
0.816 |
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TOTAL BORROWING |
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0.814 |
4.003 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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8.507 |
9.836 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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18.772 |
14.994 |
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Capital work-in-progress |
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0.683 |
0.342 |
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INVESTMENT |
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2.843 |
2.237 |
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DEFERREX TAX ASSETS |
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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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8.557 |
17.347 |
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Sundry Debtors |
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28.000 |
25.435 |
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Cash & Bank Balances |
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15.999 |
7.545 |
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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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9.847 |
12.981 |
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Total
Current Assets |
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62.403 |
63.308 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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76.194 |
71.045 |
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Total
Current Liabilities |
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76.194 |
71.045 |
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Net Current Assets |
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[13.791] |
[7.737] |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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8.507 |
9.836 |
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PROFIT & LOSS
ACCOUNT
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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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5.565 |
5.098 |
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Other Income |
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1.914 |
1.534 |
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Total Income |
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7.479 |
6.632 |
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Profit/(Loss) Before Tax |
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3.091 |
2.388 |
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Provision for Taxation |
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Profit/(Loss) After Tax |
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3.091 |
2.388 |
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Total Expenditure |
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4.389 |
4.244 |
KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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PAT / Total Income |
(%) |
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41.32 |
36.00 |
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Net Profit Margin (PBT/Sales) |
(%) |
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55.54 |
46.84 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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0.03 |
0.03 |
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Return on Investment (ROI) (PBT/Networth) |
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0.40 |
0.40 |
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Debt Equity Ratio (Total Liability/Networth) |
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10.01 |
12.86 |
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Current Ratio (Current Asset/Current Liability) |
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0.81 |
0.89 |
LOCAL AGENCY
FURTHER INFORMATION
AS PER WEBSITE DETAILS :
PROFILE:
Hot Rolling Mill
They undertake supply of rolling mill on turn key basis from conception to
commissioning, to suit specific need of the customer, they design the plant on
the basis of tonnage output and product mix desired, the size and type of input
material and the extent of automation required by the customer, be it a wire
rod or bar mill or section mill.
Revamping
They also undertake the work of revamping the existing rolling mill to
upgrade the production and products, to cut down on the cost and labour
force. They have a wing to undertake the design engineering of steel
melting shop and continuous billet casting plant.
Manufacturing Facilities
Our manufacturing facilities include the latest model Horizontal Boring
Machine, Planers and Plano-Millers, Gear hobbing Machines, Gear Shapers,
Cylindrical Grinding Machines and other machine tools. The workshop is
equipped with E.O.T. Crane and other lifting tackles. They use special raw
material confirming to DIN, BS & IS specifications.
Heat Treatment
Heat treatment is carried out in the most modern plants and special heat
treatment like Gas Carburizing, Nitriding, Induction hardening are also
carried out. All forging are ultrasonically tested for internal defects
and are normalized, annealed or stress relieved before further
processing.
They have supplied
rolling mills to Middle East, Bangladesh & Sri Lanka, Africa, Nepal with
capacity of 12,000 tpa to 1,20,000 tpa. In India our products are in use
with many satisfied customers in Assam, Meghalaya, Bihar, Orissa, Andhra
Pradesh, Karnataka, Tamil Nadu and West Bengal.
They manufacture gear boxes and geared coupling for cement mills, sugar
mills, sponge iron plant, mini steel plant & power plant and chemical
industries. They also make ground gears and spiral bevel gear boxes. They
always strive for excellence and for customer satisfaction. They are confident
of their products and offer 5 years guarantee for their Gear Boxes and Pinion
Stands.
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
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs. 39.85 |
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UK Pound |
1 |
Rs. 82.61 |
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Euro |
1 |
Rs. 59.21 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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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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46 |
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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