MIRA
INFORM REPORT
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Report Date : |
16.10.2007 |
IDENTIFICATION DETAILS
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Name : |
RISHI CHEMICAL WORKS PRIVATE LIMITED |
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Registered Office : |
56/1, |
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Country : |
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Financials (as on) : |
31.03.1999 |
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Date of Incorporation : |
21.08.1972 |
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Com. Reg. No.: |
21-28491 |
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CIN No.: [Company
Identification No.] |
U24119WB1972PTC028491 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CALR00117F |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business : |
Manufacturer of Fine Chemicals and Intermediates of Pharmaceutical /
Food and Cosmetic Grade Chemicals. |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
---- |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
--- |
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Comments : |
Though subject is an old and established company, it has not filed any
financials after 1999 with the Government Registry. We tried to obtain the
details from company management, remained non-co-operative. No further
details could be made available but the management . The company can be considered for any business dealings on fully safe
and secured trade terms and conditions only. |
LOCATIONS
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Registered Office : |
56/1, |
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Tel. No.: |
91-33-2235-6153/5383 |
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Fax No.: |
91-33-2221-5785 |
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E-Mail : |
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Website : |
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Location : |
Leased |
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Works / Factory: |
F 5 - 10, Industrial Area, |
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Tel. No.: |
91-1334-2227427 |
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E-Mail : |
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Websites: |
DIRECTORS
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Name : |
Mr. Prahlad Rai Bharech |
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Designation : |
Director |
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Name : |
Mr. Narendra Kumar Bharech |
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Designation : |
Director |
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Name : |
Mr. Raj Kumar Bharech |
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Designation : |
Director |
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Name : |
Mr. Girdharilal Bharech |
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Designation : |
Director |
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Address : |
96-A, Raja Basant |
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Date of Birth/Age : |
20-01-1921 |
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Other Directorships: |
1. Anchor Investment Private Limited 2. Bharat Kenels Private Limited 3. Mahabir Goods Suppliers Private Limited 4. Shakti Chains and Industries Private Limited |
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Name : |
Mr. Hari Ram Saraf |
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Designation : |
Director |
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Name : |
Mr. Chandra Prakash Bharech |
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Designation : |
Director |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Fine Chemicals and Intermediates of Pharmaceutical /
Food and Cosmetic Grade Chemicals. |
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Products : |
·
Anti-icing/De-icing Granules ·
Calcium D-Saccharate 4-Hydrate ·
Ferric Orthophosphate 2-Hydrate ·
Ferric Pyrophosphate 9-Hydrate ·
Iodoform ·
Magnesium Sulphate 7-Hydrate ·
Potassium Hydrogen Phthalate ·
Potassium Phosphate Monobasic ·
Potassium Sodium Tartrate 4-Hydrate ·
Sodium Citrate Dibasic 1.5-Hydrate ·
Sodium Citrate Tribasic 2-Hydrate ·
Sodium Phosphate Dibasic 2-Hydrate ·
Sodium Phosphate Dibasic 7-Hydrate ·
Sodium Phosphate Dibasic 12-Hydrate ·
Sodium Phosphate Monobasic
1-Hydrate ·
Sodium Phosphate Monobasic
2-Hydrate |
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Exports : |
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Countries : |
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Imports : |
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Countries : |
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Terms : |
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Selling : |
Cash, Contract, L/C or Credit. |
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Purchasing : |
Cash, Contract, L/C or Credit |
GENERAL INFORMATION
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Customers : |
Manufacturers, Wholesalers and Government Bodies. |
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No. of Employees : |
26 |
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Bankers : |
·
Bank of ·
Central Bank of ·
Central Bank of ·
State Bank of ·
State Bank of ·
State Bank of ·
Punjab National Bank, 18 A, |
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Banking
Relations : |
--- |
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Auditors : |
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Name : |
G P Agrawal and Company Chartered Accountants |
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Address : |
7A, |
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Memberships : |
à Basic Chemicals, Cosmetics and Pharmaceuticals Export Promotion Council |
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Associates/Subsidiaries : |
01. Anchor Investment Private Limited 02. Bharat Kenels Private Limited 03. C I Laboratories 04.
Commercial The company is engaged in trading of Chemicals, Pharmaceuticals etc. 05.
Hindustan Detergents Corporation, Tel. No.: 91-33-235 6153/5383 Fax No.: 91-33-464 1667 E-Mail: bharech@cal.vsnl.net Website: http://www.bharechgroup.com The company is engaged in manufacturing of Detergent Powder of various formulations. The company mostly exports to SAARC Countries, East Europe etc 06. Mahabir Goods Suppliers Private Limited 07.
Olivine International, 9D, Tel. No.: 91-33-240 8917/9727 Fax No.: 91-33-240 9242 E-Mail: bharech@cal.vsnl.net Website: http://www.bharechgroup.com Merchant Exporters and Importers of Chemicals, Pharmaceutical items, All Hospital Stores, Medical Equipments, O.E.M items. Olivine International is authorised marketing agent, for SAARC Countries: 01.
Welch 02.
03.
04.
Moor Instruments, 05.
Continuum Biomedical, 06.
Daavlin Medial Through Wipro Biomed, the company is marketing for : 01.
02.
WISAP ( 03.
Fujinon ( 04.
Aesculap ( The company is also Exclusive Authorised Representative of Several National/Multinational Pharmaceuticals Houses for SAARC Countries. 08.
Olivine Mercantiles Private Limited, 9D, Tel. No.: 91-33-240 8917/9727 Fax No.: 91-33-240 9242 E-Mail: bharech@cal.vsnl.net Website: http://www.bharechgroup.com
Manufacturers of Synthetic Detergents :
The company's main customers are "The West Bengal Small Industries Development Corporation Limited". Also engaged in manufacturing of Scouring Bars on franchisee basis for large Indian Organisations. 09. Pushpashree India Limited 10. Shakti Chains and Industries Private Limited |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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200000 |
Equity shares |
Rs.10/- each |
Rs.2.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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70000 |
Equity shares |
Rs.10/- each
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Rs.0.700
million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.1999 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.540 |
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2] Share Application Money |
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0.000 |
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3] Reserves & Surplus |
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0.762 |
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4] (Accumulated Losses) |
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0.000 |
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NETWORTH |
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1.302 |
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LOAN FUNDS |
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1] Secured Loans |
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0.499 |
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2] Unsecured Loans |
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0.154 |
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TOTAL BORROWING |
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0.653 |
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DEFERRED TAX LIABILITIES |
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0.000 |
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TOTAL |
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1.955 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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1.332 |
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Capital work-in-progress |
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0.000 |
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INVESTMENT |
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0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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1.402 |
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Sundry Debtors |
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2.150 |
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Cash & Bank Balances |
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0.205 |
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Other Current Assets |
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0.000 |
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Loans & Advances |
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2.616 |
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Total
Current Assets |
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6.373 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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5.482 |
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Provisions |
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0.268 |
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Total
Current Liabilities |
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5.750 |
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Net Current Assets |
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0.623 |
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MISCELLANEOUS EXPENSES |
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0.000 |
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TOTAL |
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1.955 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.1999 |
31.03.1998 |
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Sales Turnover |
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10.740 |
12.354 |
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Other Income |
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0.000 |
0.000 |
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Total Income |
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10.740 |
12.354 |
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Profit/(Loss) Before Tax |
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0.073 |
0.239 |
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Provision for Taxation |
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0.059 |
0.069 |
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Profit/(Loss) After Tax |
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0.014 |
0.170 |
KEY RATIOS
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PARTICULARS |
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31.03.1999 |
31.03.1998 |
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PAT / Total Income |
(%) |
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0.13 |
1.37 |
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Net Profit Margin (PBT/Sales) |
(%) |
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0.67 |
1.93 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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0.94 |
NA |
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Return on Investment (ROI) (PBT/Networth) |
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0.05 |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
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4.91 |
NA |
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Current Ratio (Current Asset/Current Liability) |
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1.10 |
NA |
LOCAL AGENCY FURTHER INFORMATION
TRADE REFERENCE:
à
Modi Distillery, Prop. Modi Industries Limited, Modinagar,
à
Rishi Carbonics (Private) Limited, Opp. N. F. L.
Factory Gate,
à
Pharma Chem Traders, 11,
à
Asha Ram Sukhbir Singh and Company, 37 Lamba
Bazar, Muzaffarnagar - 251 001,
à Shri Sai Prasana Trading Company, B/1, Uma Sadan, Ground Floor, 10th Road, Khar (West), Mumbai, Maharashtra, INDIA.
Group Profile:
Olivine
International
9D,
21A,Shakespeare Sarani,
Phone : +91-33-2240-8917/9727
Fax : +91-33-2240-9242
E-mail : bharech@cal.vsnl.net.in
Olivine
Mercantile Private limited
9D,
21A,Shakespeare Sarani,
Phone : +91-33-2240-8917/9727
Fax : +91-33-2240-9242
E-mail : bharech@cal.vsnl.net.in
Hindustan
Detergent Corporation:
56/1,
Room No. D23
Phone : +91-33-2235-6153/5383
Fax : +91-33-2464-1667
E-mail : bharech@cal.vsnl.net.in
WEBSITE DETAILS:
They are a Kolkata (
They primarily cater to food, pharmaceutical, cosmetics and allied
industries. Their products comply with prevailing pharmacopoeia standards.
Also, in specific cases, they meet LR/AR/Other application oriented
specifications.
They have implemented GMP in their manufacturing unit and been approved
as basic drug manufacturer by the statutory authority.
Their manufacturing and quality control facilities are headed by
qualified, experienced and competent managers, who are ably assisted by a
motivated and dedicated workforce.
They have wide array of plant and equipment, some of which are
semi-automatic, to undertake different unit processes and operations. They
maintain proper control and checks through rigorous documentation for product
treace ability.
Their quality control department functions as independent entity and
maintains its own and documents. The Q/C equipments are periodically calibrated
and tested for reproducibility.
Their unit is totally non-polluting and discharges zero-effluent in public
utility system. They practise rainwater harvesting for general purpose uses.
They believe that they are on right track in their constant endeavor to
offer their clients the best possible service.
They work closely with their clients and help them to add value. They
are open to refreshing ideas regarding new relationships and are willing to
hear suggestions.
OTHER INFORMATION:
The company was incorporated on 21st August, 1972 at Kolkata in West Bengal having Company Registration Number 21-28491.
The company has shifted its registered office at the Factory Address.
The company is engaged in manufacturing of Fine Chemicals and intermediates of Pharmaceutical/Food and Chemically Pure grade.
The company's products have wide applications in the manufacture
of Detergents, Pharmaceutical Formulations, Pharmaceutical Intermediates,
Metallic Salts, Food Grade Chemicals, Ammonium Chloride, Potassium Bicarbonate,
Monopotassium Phosphate, Dipotassium Phosphate etc
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.39.31 |
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1 |
Rs.79.95 |
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Euro |
1 |
Rs.55.71 |
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 |
3 |
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OPERATING SCALE |
1~10 |
2 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
-- |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
-- |
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--CREDIT LINES |
1~10 |
-- |
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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 |
YES |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
NO |
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TOTAL |
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20 |
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 |
|
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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