MIRA
INFORM REPORT
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Report Date : |
17.10.2007 |
IDENTIFICATION DETAILS
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Name : |
BETTER DEAL MACHINERIES PRIVATE LIMITED |
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Registered Office : |
R – 19 Hauz Khas Enclave, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
10.10.1997 |
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Com. Reg. No.: |
90120 |
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CIN No.: [Company
Identification No.] |
U51909DL1997PTC090120 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELB08263D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer & exporter of Oxygen plant, Nitrogen plants and
Acetylene plant |
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 : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively small company having moderate track
records. Company’s profitability is under
severe pressure. It continue to incur
losses. Payments are reported as slow and delayed. The company can considered for small to mediocre business dealings on
safe and secured trade terms and conditions. |
LOCATIONS
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Registered Office/ Factory : |
R – 19 Hauz Khas Enclave, |
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Tel. No.: |
91-11-26154020 |
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E-Mail : |
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Website : |
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Branches : |
UV-67, Phase - IV, Udyog Vihar, Gurgaon - 122 001, Haryana |
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Tel. No.: |
91-124-6519863 |
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91-9871872626 |
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Fax No.: |
91-124-4386231 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Sanjiv Agrawal |
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Designation : |
Director |
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Address : |
R – 19 Hauz Khas Enclave, |
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Date of Birth/Age : |
11.02.1959 |
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Date of Appointment : |
10.10.1997 |
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Name : |
Ms. Rina Agrawal |
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Designation : |
Director |
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Address : |
R – 19 Hauz Khas Enclave, |
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Date of Birth/Age : |
10.06.1964 |
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Date of Appointment : |
14.10.2000 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Mr. Sanjiv Agrawal |
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6900 |
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Ms. Rina Agrawal |
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3090 |
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Mr. Shantanu Pani |
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10 |
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TOTAL |
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10000 |
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Names of Shareholders |
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Percentage of
Holding |
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Directors / Relatives of Directors |
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99.90 |
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Other top 50 share holders |
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0.100 |
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TOTAL |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer & exporter of Oxygen plant, Nitrogen plants and
Acetylene plant |
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Products : |
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Exports : |
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Countries : |
Tanzania, South Africa, Kenya, Congo, Liberia, Brazil, Columbia, UAE,
Saudi Arabia, Iran, Iraq, Europe, Italy, Spain and Australia |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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Bankers : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Ashwani Mohan Chartered Accountant |
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Address : |
B – 32, Kriti Nagar, |
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PAN No.: |
AAFPM6390L |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.100 million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.100 million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.100 |
0.100 |
0.100 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
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4] (Accumulated Losses) |
[0.370] |
[0.154] |
[0.220] |
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NETWORTH |
[0.270] |
[0.054] |
[0.120] |
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LOAN FUNDS |
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1] Secured Loans |
0.283 |
0.000 |
0.000 |
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2] Unsecured Loans |
0.074 |
0.064 |
0.063 |
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TOTAL BORROWING |
0.357 |
0.064 |
0.063 |
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DEFERRED TAX LIABILITIES |
0.221 |
0.219 |
0.000 |
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TOTAL |
0.308 |
0.229 |
[0.057] |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
22.570 |
4.969 |
0.581 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
2.284 |
1.236 |
1.050 |
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Sundry Debtors |
0.432 |
0.419 |
0.000 |
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Cash & Bank Balances |
1.313 |
3.378 |
1.748 |
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Other Current Assets |
0.000 |
0.000 |
0.000 |
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Loans & Advances |
2.005 |
1.060 |
0.607 |
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Total
Current Assets |
6.034 |
6.093 |
3.405 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
28.165 |
10.726 |
4.047 |
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Provisions |
0.133 |
0.110 |
0.000 |
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Total
Current Liabilities |
28.298 |
10.836 |
4.047 |
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Net Current Assets |
[22.264] |
[4.743] |
[0.642] |
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MISCELLANEOUS EXPENSES |
0.002 |
0.003 |
0.004 |
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TOTAL |
0.308 |
0.229 |
[0.057] |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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Sales Turnover |
33.606 |
20.442 |
3.729 |
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Increase / Decrease in Stocks |
0.000 |
0.186 |
0.607 |
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Other Income |
33.606 |
0.722 |
0.243 |
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Total Income |
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21.350 |
4.579 |
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Profit/(Loss) Before Tax |
(0.191) |
0.395 |
[0.193] |
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Provision for Taxation |
0.025 |
0.329 |
0.000 |
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Profit/(Loss) After Tax |
(0.216) |
0.066 |
[0.193] |
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Expenditures : |
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Purchase |
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15.915 |
3.844 |
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Carriage Inward |
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0369 |
0.244 |
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Manufacturing Expenses |
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2.465 |
0.273 |
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Administrative Expenses |
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1.775 |
0.284 |
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Electricity & Water Expenses |
33.237 |
0.056 |
0.079 |
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Generator Hire Expenses |
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0.100 |
0.000 |
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Professional Charges |
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0.020 |
0.010 |
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Audit Fee |
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0.019 |
0.005 |
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Depreciation & Amortization |
0.560 |
0.232 |
0.031 |
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Total Expenditure |
33.797 |
389.582 |
4.770 |
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KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
31.03.2004 |
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PAT / Total Income |
(%) |
0.64
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0.30 |
[4.21] |
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Net Profit Margin (PBT/Sales) |
(%) |
(0.56)
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1.85 |
[4.21] |
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Return on Total Assets (PBT/Total Assets} |
(%) |
(0.66)
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3.57 |
[4.84] |
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Return on Investment (ROI) (PBT/Networth) |
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0.70
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[7.31] |
1.60 |
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Debt Equity Ratio (Total Liability/Networth) |
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[106.12]
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[201.85] |
[34.25] |
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Current Ratio (Current Asset/Current Liability) |
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0.21
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0.56 |
0.84 |
LOCAL AGENCY FURTHER INFORMATION
Product:
Oxygen / Nitrogen Plant
Oxygen plants are available in capacities of 20, 30, 40, 5050, 60.80,
100, 120, 130, 150, 200, 250, 300, 400 and 500 CuM/Hr and purity of 99.5%
suitable for industrial and medical fields.
Nitrogen is available as a second product from the oxygen plant in approximately
four times the quantity of oxygen produced. Standard purity of nitrogen is 96%
to 99.5% but are available upto 99.999% also.
Oxygen gas filling in Cylinders
The oxygen plant has a built in gas vaporizer and an integral liquid
oxygen filling pump to fill oxygen gas from liquid oxygen in the air seperation
unit directly into cylinders upto pressure of 155 Bar (200 Bar optional)
Nitrogen gas filling in Cylinders
Nitrogen gas can be filled in cylinders directly up to 155 Bar (200 bar
optional) simultaneously with the oxygen production by an additional LIQUID
NITROGEN PUMP provided with a Nitrogen exchanger in the air seperation unit.
The nitrogen gas can also be filled from the outlet of the cold box by
installing a nitrogen compressor up to 155 Bar.
Liquid Nitrogen Output
All their Oxygen and Nitrogen plants can give Liquid Nitrogen output.
Synonymous names of their products are: Oxygen Plant. Oxygen plants. Oxygen gas
Filling Plant. Oxygen Machine. Oxygen Factory. Oxygen Seperator. Cryogenic
Plant and Air Seperation Plant manufacturer from
Fixed Assets:
³
Building
³
Computer
³
Furniture & Fixtures
³
Inverter
³
Plant & Machinery
³
Crane
³
Weighing Machine
³
U.P.S
³
Land
Website Details:
Subject is a reputed and recognized organization engaged as a
manufacturer & exporter of Oxygen plant, Nitrogen plants and Acetylene
plant in
Profile
They are located in the most prestigious DLF Industrial estate near New
Delhi International Airport in the close vicinity of known brands Microsoft,
Ericsson, Honda, Coke to name a few. They are having state of the art
manufacturing facilities with comparing any company in
Support System:
Their infrastructure forms the backbone of our organization. They have a
well equipped state-of-the-art production unit. They have a perfect combination
of technology and manpower which enables them to manufacture the best in the
industry. Their company is being managed by the best of professionals with vast
experience in their field. These experts design, manufacture, supply, install,
commission oxygen, nitrogen and acetylene plants. They are providing after sale
service, spare parts and warranty/guarantee on their plants.
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.80.19 |
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Euro |
1 |
Rs.55.86 |
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 |
2 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
4 |
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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 |
1 |
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--CREDIT LINES |
1~10 |
1 |
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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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21 |
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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