MIRA
INFORM REPORT
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Report Date : |
29.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
RAINBOW TRADE LINKS |
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Registered Office : |
195/15, Fatehpura, Jalandhar – 144 008, Punjab |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
2002 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
JLDR01553G |
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Legal Form : |
Partnership concern with an Unlimited Liability of the partners. |
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Line of Business : |
Manufacturer and Trader of Scaffolding Pipes and Gun Metal Products |
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 6000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a small concern in its field. Trade relations are fair.
Nothing adverse reported. Payments are reported as slow but correct. The concern can be considered for small to mediocre business dealings at
usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
195/15, Fatehpura, Jalandhar – 144 008, Punjab, India |
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Tel. No.: |
91-181-2404195 |
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Mobile No.: |
91-9216335121 / 9417262600 / 9417500122 |
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Fax No.: |
91-181-2404195 |
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E-Mail : |
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Website : |
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Area : |
1600 Sq.fts |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Rajesh Sood |
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Designation : |
Partner |
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Date of Birth/Age : |
42 years |
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Qualification : |
Graduate |
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Experience : |
20 years |
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Name : |
Mr. Sukesh Sood |
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Designation : |
Partner |
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Date of Birth/Age : |
39 years |
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Qualification : |
Graduate |
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Experience : |
15 years |
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Name : |
Mr. Vikas Sood |
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Designation : |
Partner |
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Date of Birth/Age : |
30 years |
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Qualification : |
Graduate |
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Experience : |
6 years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Trader of Scaffolding Pipes and Gun Metal Products |
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Products: |
· Valves · Scaffoldings · Prop Nuts · Ledgers · Blades · Top Cups and Bottom Cups · Jack and Jack Nuts · Wing Nuts · Rapid Clamps · Stirrup Nuts · 5/8 I-Bolts and 20 mm. I-Bolts · T-Type Shuttering Bolts · Water Stoppers ·
Tie Rods, etc |
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Terms : |
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Selling : |
L/C, Cash and Credit |
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Purchasing : |
L/C, Cash, Credit (60 Days) and Sight |
GENERAL
INFORMATION
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Customers: |
Local Customers, End users. |
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No. of Employees : |
4 |
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Bankers : |
State Bank of India Address: Jalandhar |
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Facilities: |
Limit Rs. 2.000 millions |
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Banking
Relations : |
----- |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 1.500 millions |
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Borrowed : |
--- |
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Total : |
Rs. 1.500 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
8.500 |
8.200 |
8.000 |
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Profit/Loss for the year |
0.289 |
0.285 |
0.250 |
LOCAL AGENCY
FURTHER INFORMATION
TRADE REFERENCES:
· Decker Devices Private Limited, Bangalore
· R J Multi Products , Nasik
WEBSITE DETAILS:
With rich heritage and a distinguished career, they are a globally acclaimed concern continuing their journey for two decades. Established in the year 1987, they are celebrating their twentieth anniversary and renowned today as a brand that is synonymous to reliability and perfection. This glorious journey of the concern arted with a modest beginning, but they grew rapidly due to their consistent effort to be an industry leader through exhibition of unique performance in the industry. The philosophy of their business is simple- 'to cater to the exact needs of their valued customers with products of the highest quality and services of unfailing reliability'. This attitude is the secret behind their reputation as a world class manufacturer and exporter of unique quality products. The product portfolio of their concern comprises of an extensive range including Valves, Scaffoldings, Prop Nuts, Top Cups and Bottom Cups, Jack and Jack Nuts, Wing Nuts, Rapid Clamps, Stirrup Nuts, 5/8 I-Bolts and 20 mm. I-Bolts, T-Type Shuttering Bolts, Tie Rods, etc.
What distinguishes all these products is their excellent quality and finish. The products are designed relying on cutting edge technology so that they offer trouble free performance and require less maintenance. They are available at highly competitive price and comply with various national and international level quality norms. It is why, thousands of clients from all over the world today rely on them for the best products in the industry. At present, they export almost 50% of their products to the international market and have a dominating presence at the domestic level.
Quality
Committed to cater to the requirements of their clients with the best
products and services, they, at the concern, adopt a Quality Management System
to ensure top quality in all the areas of their business activity. Quality
objectives are duly set, keeping in mind the latest and internationally
acclaimed standards and they endeavor to achieve them following a stringent
quality control policy. The quality checking operations start right from the
procurement of raw materials (gun metal, pig iron, mild steel, etc.), go
through different stages of product manufacturing and end only after final inspection
and delivery of the finished products. They have an in-house quality testing
lab equipped with advanced testing equipment. A team of experts supervises this
unit and ensures perfection and precision of all the finished products using
cutting edge technology.
Infrastructure
A well established infrastructure enables any organization to grip better,
to grow quicker and to serve better. At the concern, they are standing upon a world
class infrastructural base, and it is the prime strength of their concern. The
factory premise of their concern is spread over a massive area. It houses
advanced manufacturing facilities well equipped with a range of highly
sophisticated machinery. They invest regularly on their infrastructure and
incorporate the latest technologies to keep pace with the changing market
demands. In addition, they have established an in-house quality control unit,
one R and D department and a massive warehousing facility. All these along with
their highly skilled and efficient workforce, play crucial role in keeping them
at the forefront of the industry.
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 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.39.77 |
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UK Pound |
1 |
Rs.82.45 |
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Euro |
1 |
Rs.58.94 |
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 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
3 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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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 |
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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29 |
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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