MIRA
INFORM REPORT
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Report Date : |
24.10.2007 |
IDENTIFICATION DETAILS
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Name : |
M |
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Registered Office : |
B -601, Shyam Sunder Society, Sector – 3, Rewari – 123 401, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1995 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer and Exporters of Slates, Quartzile, Sand stone, etc |
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 8000 |
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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 an established concern having steady business. Trade
relations are fair. Payments are usually correct and as per commitments. The concern can be considered for small to mediocre business dealings
at usual trade, terms and conditions. |
LOCATIONS
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Registered Office : |
B -601, Shyam Sunder Colony , Sector – 3, Rewari – 123 401, |
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Tel. No.: |
91-1274-260118 |
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Mobile No.: |
91-9416441995 / 9215565979 |
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E-Mail : |
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Website : |
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Area : |
500 sq.mtrs |
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Location : |
Owned |
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Factory : |
Industrial Area, Kund, Haryana |
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Area : |
1000 sq.mtrs |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Suresh Mittal |
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Designation : |
Proprietor |
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Date of Birth/Age : |
48 years |
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Qualification : |
Under Graduate |
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Experience : |
17 years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporters of Slates, Quartzile, Sand stone, etc |
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Products : |
· Slatestone · Sandstone · Lime Stone · Quartzite · Tumbled · Mosaics · Cobble · Pebbles · Strips |
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Exports : |
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Products : |
Slate Stones, Block |
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Countries : |
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Terms : |
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Selling : |
L/C, Cash, Credit |
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Purchasing : |
L/C, Cash, Credit (60 Days),
Sight |
PRODUCTION STATUS
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Particulars |
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Installed
Capacity |
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Slates, Blocks, and Sand Stones |
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100000 Tiles |
GENERAL INFORMATION
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Customers : |
Local customer, End users |
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No. of Employees : |
16 |
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Bankers : |
· Axis Bank Address: Rewari · Indian Overseas Bank Address: Rewari |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Mr. Harish Gupta Chartered Accountants |
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Address : |
Rewari – 123 401, |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 2.000 millions |
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Borrowed : |
--- |
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Total : |
Rs. 2.000 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 |
7.000 |
6.700 |
6.000 |
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Profit/Loss for the year |
0.775 |
0.709 |
0.550 |
LOCAL AGENCY FURTHER INFORMATION
TRADE REFERENCE:
·
Aarti Impex,
·
Manu Tiling,
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Jainex International,
WEBSITE DETAILS:
A prominent brand dealing successfully in wall and floor Tiles in Slate Stone and Sandstone; since 1995...
Tiles are often used to cover the floors and walls of the homes, offices and
other structures; varying from simple square tiles to complex mosaic tiles.
Tile work reflects the aesthetic sense of the householder. The concern is a
reputed name in the wall and flooring industry. They are a leading manufacturer
and exporter of an exclusively elegant collection of tiles carved of Slate
Stone and Sandstone. Their tiles clearly portray and reflect the style
statement for every home and other structures. They produce these tiles in a
whole range of shapes and sizes, colors and textures.
The purity of style in their range is complemented by an
exciting combination of colors and decorative designs to enhance the look and
feel of the walls and floors. High standards of quality and commitment towards
product innovation have made the tiles of the concern, as the industry's
benchmark, not just in
Trusted name in the field of wall and floor stone tiles industry.
· Slatestone
· Sandstone
· Lime Stone
· Quartzite
· Tumbled
· Mosaics
· Cobble
· Pebbles
· Strips
Quality Assurance
Highly quality-conscious, the concern uses the best of raw sandstone and slate stone and other raw materials to produce the well polished and processed tiles conforming to international standards. Their sandstone and slate stone tiles are quite hard, compact, fine grained, demanding least maintenance and delivering high durability. The the concern has an in-house testing laboratory that checks all the products for detecting any kind of production flaw or discrepancy. A team of quality experts ensures that their products comply to the international norms and regulations.
Infrastructure
Their concern infrastructural setup is empowered by the required set of
ultra modern machinery along with the team of highly skilled artisans who
create exquisite pieces of artistry. Entrepreneurship backed by strong
processing setup, able workmanship and excellent networking with vendors have
been the crucial keys to MS Impex's growth and success over the years. Their
sophisticated tiles production/processing unit is equipped with prerequisite
tools and machinery. They have experienced professionals from various spheres
of activities, viz. merchandising, processing, and quality checking and
finishing to packaging. With synchronous co-ordination among various
departments, they strive to deliver best quality tiles.
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 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.39.54 |
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1 |
Rs.80.94 |
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Euro |
1 |
Rs.56.42 |
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 |
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 |
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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45 |
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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