MIRA
INFORM REPORT
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Report Date : |
30.10.2007 |
IDENTIFICATION DETAILS
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Name : |
P. R. INTERNATIONAL |
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Registered Office : |
23, SSI, Co-operative Estate, |
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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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IEC No.: |
0505034981 dated |
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PAN No.: [Permanent
Account No.] |
AEIPA3338P |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturers and Exporters of Automatic SPM Machines, Kitchen Ware,
Automobile Parts, Sheet Metal Components. |
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 14000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and reputed concern having satisfactory
track. Proprietor is reported as
experienced and respectable businessman.
Trade relations are reported as fair.
Business is active. Payments
are usually correct and as per commitments. The concern can be considered normal for business dealings at usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
23, SSI, Co-operative Estate, |
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Tel. No.: |
91-11-27691012 / 27696546 |
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Mobile No.: |
91-9810005263 |
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Fax No.: |
91-11-27693571 |
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E-Mail : |
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Website : |
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Area : |
5000 Sq. fts. |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Rameeth Singh |
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Designation : |
Proprietor |
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Address : |
Plot No. 2, Street No. 56, Punjabi Bagh, New |
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Tel No. : |
91-11-25222271 |
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Date of Birth/Age : |
28 Years |
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Qualification : |
BE (Electrical) |
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Experience : |
5 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturers and Exporters of Automatic SPM Machines, Kitchen Ware, Automobile
Parts, Sheet Metal Components. |
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Products : |
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Exports : |
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Countries : |
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Imports : |
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Products : |
Automobile Parts Kitchen Ware Raw materials from |
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Terms : |
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Selling : |
On Irrevocable Letter of Credit / Party Advance Payment |
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Purchasing : |
On Advance / Documents against Payments basis |
GENERAL INFORMATION
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No. of Employees : |
60 [including contractual employees] |
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Bankers : |
Union Bank of |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
M/s. Goel Associates Chartered Accountant |
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Associates/Subsidiaries : |
Sterco Welders Private Limited Line of Business : Manufacturers of Welding Machines |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 3.500 Millions |
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Borrowed : |
- |
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Total : |
Rs. 3.500 Millions |
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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Total Income |
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47.500 |
35.000 |
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Profit Before Tax |
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2.494 |
1.400 |
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Profit After Tax |
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1.800 |
1.200 |
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Import Value |
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7.500 |
4.200 |
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Export Value |
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35.000 |
21.000 |
KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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PAT / Total Income |
(%) |
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3.79 |
3.43 |
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Net Profit Margin (PBT/Sales) |
(%) |
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5.25 |
4.00 |
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Return on Investment (ROI) (PBT/Networth) |
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51.43 |
40.00 |
LOCAL AGENCY FURTHER INFORMATION
Subject Concern was established in 1995 by Mr. Balvinder Pal Singh F/O
Mr. Rameeth Singh. Subsequently Mr. Rameeth
Singh became the Proprietor and Chief Executive Officer of the Company.
The inquired address is the subject’s production and administrative
office and it is situated in the outskirts of
OPERATION
Established in 1995 the subject is engaged in the business of
Manufacturers and Exporters of welding machines and equipments, automotive
parts, sheet metal components for auto parts, plastic goods, kitchenware and
stainless steel products. The Subject is
directly exporting their products to
COMPANY PROFILE:
Globalization undoubtedly opens new
horizons for business entities but also paves the way to the cut-throat competition
that makes survival as the most difficult task for them. However, there are
certain players who still know the art of successfully handling diversified
business entities. Subject is one among such players, establishing itself as a
renowned manufacturer, exporter
and supplier in variety
of products such as welding machines
& equipments, automotive parts, sheet metal components for auto parts,
plastic goods, kitchenware and stainless steel products. The business organization was
incorporated in the year 1995 and has carved a niche for itself in today's
competitive scenario by delivering excellent products at the most competitive
prices.
They
are professionally being headed by highly experienced personnel at every level
of manufacturing process that ensures an efficient production under every
stage. Their company makes products in tune with the international standards of
quality to suit both the domestic as well as international clients. They use
the latest and advanced technology to manufacture their range of machinery.
Their impeccable quality helps them to discover a huge clientele spread all
over the globe including
Quality and Infrastructure
Subject is a quality conscious company and strictly adhere to stringent
quality management system to deliver unparalleled products. The company has a
perfect combination of professionals that are best in the industry with modern
machinery to manufacture incomparable products, surpassing everyone's
expectations. They follow a strict routine of quality checks to make sure
that only the best products reach their customers. Their robust infrastructure
helps them to feed the bulk demand within the specified deadlines.
Research & Development
Their research and development personnel are fueled with higher degree
of excellence in their respective domains and are capable of innovating
flawless items as per the emerging demands. They are equipped with an advance
in-house laboratory to conduct various tests.
Their Assets
- An array of distinctive products for
varied applications
- World class quality to cater to the
quality savvy clients
- Highly skilled workforce coupled with
ultra modern machineries to deliver superlative products
- Highly efficient and long lasting
solutions
- Stringent quality control measures to
ensure flawless products
- Timely delivery
- Affordable prices.
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. 39.38 |
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1 |
Rs. 80.96 |
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Euro |
1 |
Rs. 56.81 |
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 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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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 |
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 |
YES |
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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. |
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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