MIRA
INFORM REPORT
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Report Date : |
05.10.2007 |
IDENTIFICATION DETAILS
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Name : |
PARTHIV POLYMERS |
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Registered Office : |
21, Vishnu and Adhyashakti Estate, |
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Country : |
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Financials (as on) : |
31.03.2007 (Estimated) |
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Date of Incorporation : |
1999 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
AHMP01018D |
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PAN No.: [Permanent
Account No.] |
AAEFP2132L |
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Legal Form : |
Partnership concern with an unlimited liability of the partners. |
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Line of Business : |
Manufacturer of chemicals pharmaceuticals Pp tray, Pp Ball Valve, Flange
End, Pp Screw End Ball Valve, Sight Glass valve, Moulded Bend and Tee and
pipe Fittings, Glass Valves. |
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. apability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
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Maximum Credit Limit : |
USD 4000 |
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Status : |
Small concern |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively small concern having satisfactory track. Partners
reported as experienced and respectable businessmen. Trade relations are
reported as fair. Business is active. Payments are however reported as slow
but correct. The concern can be considered for small business dealings at usual
trade terms and conditions. |
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LOCATIONS
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Registered Office/Factory : |
21, Vishnu and Adhyashakti Estate, |
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Tel. No.: |
91-79-22200857 / 32900857 |
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Fax No.: |
91-79-22200387 |
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E-Mail : |
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Area : |
200 sq.mtrs |
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Location : |
Owned |
PARTNERS
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Name : |
Mr. Piyush Patel |
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Designation : |
Partner |
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Date of Birth/Age : |
29 Years |
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Qualification : |
Graduate |
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Name : |
Mr. Dinesh Patel |
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Designation : |
Partner |
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Date of Birth/Age : |
43 Years |
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Qualification : |
Under graduate |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of chemicals pharmaceuticals, Pp tray, Pp Ball Valve,
Flange End, Pp Screw End Ball Valve, Sight Glass valve, Moulded Bend and Tee
and Pipe Fittings, Glass Valves. |
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Terms : |
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Selling : |
Credit (60 Days) |
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Purchasing : |
Advance |
GENERAL INFORMATION
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Customers : |
Manufacturing units |
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No. of Employees : |
15 |
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Bankers : |
Standard Chartered Bank Chartered Accountants Address: Methakadi, |
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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. 1.000 million (Estimated) |
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Borrowed : |
--- |
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Total : |
Rs. 1.000 million (Estimated) |
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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6.500 |
4.000 |
Expected Sales (2007-08) : Rs. 8.000 millions
LOCAL AGENCY FURTHER INFORMATION
TRADE REFERENCE:
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·
Daurala Organics Limited Daurala Dist.
· Kilburn Chemical Limited Tuticorin
·
Arvindo Pharmaceuticals Limited
·
Dr. Reddy's Laboratories Limited (Unit-2 and 3)
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· DCW Limited. Tuticorin
· Wockard Limited Ankleshwar
·
Devis Laboratories Limited
At Parthiv Polymers, they try to provide exceptional quality Polypropylene Valves to their customers according to their requirements".
Established in the year 1999, Parthiv Polymers is a renowned name engaged in the field of manufacturing and exporting of Polypropylene valves. With their deep knowledge of advanced Polymer science and a decade of hard core experience in manufacturing new generation ball valves, the company has visualized innovative ways to serve various industries. Today, hard work along with dedication has transformed Parthiv Polymers into an exemplary organization.
Products
They specialize in manufacturing and exporting superior quality
Polypropylene Ball Valves, Pipe Fittings, etc. which are used in:
· Chemicals
· Pharmaceuticals
· Petrochemicals
· Fertilizer Industries
· Oil Refineries
· Sugar Industries
· Paints and Varnish Works
· Breweries and Distilleries
· Water Works
· Soap Factories
· Cement Factories
· Aircraft and Automobile Factories
Quality
At Parthiv Polymers, they try to provide exceptional quality Polypropylene
Valves to their customers according to their requirements. Each and every Valve
they manufacture undergoes a thorough test for hydraulic, pneumatic pressure
and leakage levels as per the technical specification of the valve. They are
well equipped with a testing laboratory where all the valves are tested with
trustworthy testing equipments. They have a wide network all across
Infrastructure
Their infrastructure includes a processing unit with state-of-the-art
modern machineries and plants. They also have a well-established in-house
facility unit which assists in manufacturing premium quality valves for their
prestigious clients. They have a team of expert consultants, qualified
engineers and skilled workers who assists them along with their fully equipped
unit to manufacture optimum quality products.
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.39.56 |
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1 |
Rs.80.30 |
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Euro |
1 |
Rs.55.76 |
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 |
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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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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