MIRA
INFORM REPORT
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Report Date : |
06.09.2007 |
IDENTIFICATION DETAILS
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Name : |
ARVIND INDUSTRIES |
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Registered Office : |
GIDC, Phase II, Plot No. 649/A, Dared, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1983 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer of Brass Components, Fasteners, Electronics Parts,
Electric Parts, Fire Extinguishers. |
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 10000 |
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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/Factory : |
GIDC, Phase II, Plot No. 649/A, Dared, |
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Tel. No.: |
91-288-2730903 |
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Fax No.: |
91-288-2730903 |
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E-Mail : |
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Website : |
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Area : |
4000 Sq. fts |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Dhanjibhai Patel |
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Designation : |
Proprietor |
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Date of Birth/Age : |
50 Years |
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Qualification : |
Graduate |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Brass Components, Fasteners, Electronics Parts,
Electric Parts, Fire Extinguishers. |
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Products : |
·
Brass Components
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Fasteners ·
Electronic Parts
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Electric Parts ·
Fire Extinguishers, etc |
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Exports : |
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Products : |
All Products |
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Countries : |
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Terms : |
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Selling : |
L/C, Cash, Credit (15 Days) |
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Purchasing : |
Cash, Credit (30 Days) |
GENERAL INFORMATION
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Customers : |
Wholesalers |
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No. of Employees : |
25 |
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Bankers : |
Navanagar Corporation Bank, |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Satish Patel Chartered Accountants |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 1.500 millions |
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Borrowed : |
Rs. 1.000 millions |
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Total : |
Rs. 2.500 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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Sales Turnover |
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7.000 |
5.000 |
Expected Sales (2007-08) : Rs. 9.000 millions.
LOCAL AGENCY FURTHER INFORMATION
WEBSITE DETAILS:
Catering to the worldwide market with a comprehensive range of superior quality brass components, fasteners, electronic parts, electric parts, fire extinguishers, etc. since 1983...
Subject is a primo player in the brass, electronic and electric components
sectors. Since their inception in 1983, they have made an indelible mark for
their selves in the concerned arena. They are a leading manufacturer and
exporter of Brass Components, Fasteners, Electronic Parts, Electric Parts, Fire
Extinguishers, etc. Their monthly
production capacity exceeds the figure of 100 tonnes. Understanding the need of
specialized features for different industries, they ensure that their customers
get the appropriate products as per their requirements. Having application in
numerous industrial applications, their assortment of products is also
customized as per the drawings and specifications of the customers.
Widely popular in the market for durability, reliability, dimensional accuracy,
hardness, and ability to withstand high pressure, their products have fetched
for them a large client base spread across the world. Whether it is the
quality, price or prompt delivery of their products, they are a cut above the
rest in this competitive marketplace. Their export market is located in the
regions of
At Arvind Industries, a wide range of brass, electric and electronic products
to choose from, all of which are high on the parameters of quality. They are a
reputed manufacturer and exporter of the following:
·
Brass Components
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Fasteners
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Electronic Parts
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Electric Parts
- Fire Extinguishers, etc.
Quality
Manufacturing quality products is their forte at Arvind Industries. Each of
their products is tested for quality at every stage of production. They also
ensure that the raw materials are procured from certified vendors having a good
reputation in the market. Manufactured in accordance with different national
and international standards, all their products bear the hallmark of
superlative quality. Their team of quality controllers supervises the entire
production process and makes sure that there are no shortcomings in the
process. The products are checked on the parameters of durability, reliability,
dimensional accuracy, hardness, ability to withstand high pressure, etc.
Infrastructure
Subject is backed by a world class infrastructure that comprises of the latest machinery
and equipment facilitating quick and efficient production. They strive to make
appropriate changes in their systems through servicing of the machinery as well
as up gradations at regular intervals. Their manpower is a perfect amalgamation
of experience, expertise, and technical know-how of the user industry. The
production mechanism at every step is handled by this qualified manpower
comprising of mechanical engineers, technocrats, marketing and sales personnel,
administration staff and allied personnel. Regular training sessions are
conducted to keep their team abreast with the latest developments taking place
in the industry globally. They keep abreast with the latest developments in
technology and incorporate the same in their manufacturing systems so as to
deliver the most innovative and newest range of products to their valued
customers.
Hallmark
Following are the factors
that have enabled them to create a place for their selves in the cutthroat
market:
·
Supreme
quality--the backbone of their success
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Manufacturing
processes streamlined according to quality regulations
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The
shipped products are error free, surpassing the expectations of their customers
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Cater to
bulk orders at short notice
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On-time
delivery of product irrespective of the location
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Competitive
prices, which are the best in the market
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Committed
to deliver the best, leaving no room for customer grievances.
TRADE REFERENCE:
- Chemco
fastners
- Sakshi
Enterprises
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.40.94 |
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1 |
Rs.82.26 |
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Euro |
1 |
Rs.55.59 |
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 |
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. |
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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