MIRA
INFORM REPORT
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Report Date : |
13.09.2007 |
IDENTIFICATION DETAILS
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Name : |
ASHISH TOOLS PRIVATE LIMITED |
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Registered Office : |
123, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
29.06.1990 |
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Com. Reg. No.: |
55-40663 |
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CIN No.: [Company
Identification No.] |
U74899DL1990PTC040663 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELA03249B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturers and Suppliers of All Kinds of Pet Moulds. |
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 16000 |
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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 company having satisfactory
track. Directors are reported as experience and respectable businessmen.
Trade relations are reported as fair. Business is active. Payments are
usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
123, |
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E-Mail : |
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Website : |
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Head Office : |
C-65
Sector–2 Noida –201301, Gautam Buddh Nagar, U.P.( |
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Tel. No.: |
91-120-2533796 / 2533796 /
3040529 |
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Fax No.: |
91-120-3040529 / 4329737 |
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Mobile No. : |
91-9312602728 / |
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E-Mail : |
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Branch Office : |
986/8, GIDC Estates, Makarpura, |
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Mobile No. : |
91- 9825025350 |
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Branch Office : |
Plot No. 901,
Industrial Area, Phase-II , |
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Tel. No.: |
91-172-5089528 |
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Mobile No. : |
91-9316197505 |
DIRECTORS
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Name : |
Mr. Braham Dutt Saini |
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Designation : |
Director |
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Address : |
478/1, Hardev Puri, Gautam Nagar, |
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Date of Birth/Age : |
02.01.1958 |
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Date of Appointment : |
29.06.1990 |
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Election Commission Card No. : |
DL/02/009/246527 |
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Name : |
Mr. Santosh Saini |
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Designation : |
Director |
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Address : |
478/1, Hardev Puri, Gautam Nagar, |
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Date of Birth/Age : |
15.07.1963 |
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Date of Appointment : |
29.06.1990 |
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Election Commission Card No. : |
DL/02/009/246477 |
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Name : |
Mr. Ashish Saini |
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Designation : |
Director |
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Address : |
478/1, Hardev Puri, Gautam Nagar, |
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Date of Birth/Age : |
09.10.1985 |
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Date of Appointment : |
01.09.2004 |
KEY EXECUTIVES
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Name : |
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Designation : |
Company Secretary |
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Address : |
108, Hzt. Nizamuddin West, |
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Date of Birth/Age : |
91-11-24355734 / 24355735 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Braham Dutt Saini |
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9390 |
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Santosh Saini |
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5430 |
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Abhinav Saini |
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800 |
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B D Saini HUF |
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2280 |
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Deepa Saini |
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1100 |
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Ashish Saini |
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1000 |
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Total |
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20000 |
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Equity Share
Breakup |
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Category |
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Percentage of
Holding |
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Directors or relatives of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers and Suppliers of All Kinds of Pet Moulds. |
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Export to : |
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GENERAL INFORMATION
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Bankers : |
Not Available |
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Auditors : |
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Name : |
Mahalwala and Company Chartered Accountants |
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Address : |
F – 68, East of Kailash, |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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40,000 |
Equity Shares |
Rs. 100/- each |
Rs. 4.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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20,000 |
Equity Shares |
Rs. 100/- each |
Rs. 2.000 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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2.000 |
2.000 |
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2] Share Application Money |
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1.430 |
1.985 |
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3] Reserves & Surplus |
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0.678 |
0.366 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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4.108 |
4.351 |
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LOAN FUNDS |
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1] Secured Loans |
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0.751 |
0.448 |
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2] Unsecured Loans |
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0.800 |
0.931 |
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TOTAL BORROWING |
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1.551 |
1.379 |
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DEFERRED TAX LIABILITIES |
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0.370 |
0.427 |
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TOTAL |
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6.029 |
6.157 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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4.109 |
3.590 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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0.000 |
0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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2.657 |
1.859 |
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Sundry Debtors |
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0.301 |
0.482 |
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Cash & Bank Balances |
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0.137 |
0.176 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
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0.120 |
0.120 |
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Total
Current Assets |
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3.215 |
2.637 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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1.295 |
0.070 |
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Provisions |
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0.000 |
0.000 |
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Total
Current Liabilities |
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1.295 |
0.070 |
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Net Current Assets |
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1.920 |
2.567 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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6.029 |
6.157 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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Sales Turnover |
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8.833 |
7.550 |
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Other Income |
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0.142 |
0.052 |
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Total Income |
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8.975 |
7.602 |
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Profit/(Loss) Before Tax |
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0.321 |
0.495 |
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Provision for Taxation |
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0.009 |
0.046 |
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Profit/(Loss) After Tax |
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0.312 |
0.449 |
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Expenditures : |
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Depreciation & Amortization |
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0.561 |
0.463 |
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Other Expenditure |
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8.093 |
6.644 |
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Total Expenditure |
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8.654 |
7.107 |
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KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
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3.48 |
6.51 |
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Net Profit Margin (PBT/Sales) |
(%) |
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3.63 |
6.56 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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4.38 |
7.95 |
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Return on Investment (ROI) (PBT/Networth) |
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0.08 |
011 |
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Debt Equity Ratio (Total Liability/Networth) |
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0.69 |
0.33 |
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Current Ratio (Current Asset/Current Liability) |
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2.48 |
37.67 |
LOCAL AGENCY FURTHER INFORMATION
AS PER
WEBSITE
Profile
Established in 1990 , subject is a
privately held company and the leader supplier of All Kinds of Pet
Moulds.
They Design, Manufacture and
Support a full range of PET MOULDS. These include Injection and Blow Moulds for
both the Single Stage (Aoki & Nissei ) and Double Stage Machines.
Ashish Tools Private Limited as the name signifies,
is a Hi-Tech Mould Manufacturing Company exclusively for PET Industry.
Companies throughout the world use their products to
produce high quality Pet Preforms, Jars & Bottles.
Ashish Tools is committed to
achieve customer satisfaction, through continuous improvement in technology and
effective service, resulting in excellent quality of moulds
Strength
Facility to see the final product, before manufacturing.
Machining on CNC machine tools.
Use of imported Rust Proof Material.
High surface finish on inserts.
Accuracy ± 5ml (for 1 Liter Bottle)
100% accuracte matching of Blow Mould
cavities.
Infrastructure
Subject is the integration on 3 state of the art manufacturing
centers and 15 Vendors . They have the entire range of machines needed to
manufacture quality moulds:
Design
8 Intel Powered Workstations.
Manufacturing
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Machine |
Quantity |
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CNC
Milling |
2
Nos. |
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CNC
Lathe |
2
Nos. |
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Milling
Machine |
10
Nos. |
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Lathes |
10
Nos. |
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Drilling |
2
Nos. |
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Shapers |
3
Nos. |
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Surface
Grinder |
6
Nos. |
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Cylindrical
Grinder |
1
No. |
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EDM |
2
Nos. |
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Horizontal
Boring Machine |
1
No. |
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For
Trial Of Moulds at their Work Station |
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Injection
Moulding Machine |
1
No. |
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Blow
Moulding Machine |
2
Nos. |
Their strength is their experienced Human Resource, which work continuously in order
to give their customers the optimum quality moulds.
Planning
The mould making process starts with the understanding of the customer needs, problems and production requirements. Their experienced engineers analyses all the input given by the customer, and suggests the best possible way
to achieve the requirements. The preliminary design is than further analysed by their CAD/CAM/CAE Cell , using the latest Software’s , resulting in the detailed design.
5 Intel Powered Stations dedicated for designing equipped to
offer 3D Models colorfully rendered to give realistic effect. These are state
of the art integrated art - to - part applications with functionality to
address any demand in Modeling,
Assembling, Production and Reverse Engineering.
All this helps in ensuring superior final product much
before the manufacturing process begins.
Manufacturing
The mould making process starts
with the understanding of the customer needs, problems and production requirements.
Their experienced engineers analyses all the input given by the customer, and
suggests the best possible way Their sophisticated Tool Room utilizes CNC
(Computer Numerical Control)
Technology to machine complex shapes to the ultimate
fulfillment. The High Speed Machining with Automatic Tool Changer Technology
gives maximum efficiency to their manufacturing process. In addition to CNC’s
they have a No. of Conventional & Unconventional Machines that includes
Lathe, Milling, Boring (W&W,
The Quality Personnel in addition to the Final Inspection,
carry out the Inspection of work in process, in order to avoid any last minute
hassle.
Material Selection
Their strength is in sourcing
the right Anti-Rust Mould Steel and Alloy Steel of the highest Quality and
their right Applications. They buy special grades of STEEL and ALUMINIUM of
GERMAN make. Treatments like surface, heat treatment, Plasma Nitriding, etc.
are carried out strictly as per the guidelines set by the respective steel
manufacturers.
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
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.40.45 |
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|
1 |
Rs.81.72 |
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Euro |
1 |
Rs.56.09 |
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 |
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. |
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 |
|
<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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