MIRA
INFORM REPORT
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Report Date : |
17.09.2007 |
IDENTIFICATION DETAILS
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Name : |
SAFE SURGICAL INDUSTRIES |
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Registered Office : |
1st Floor, Khatri Market, Pali Bazar, Beawar – 305 901,
Rajasthan |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1999 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
JDHS03132D |
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PAN No.: [Permanent
Account No.] |
AAJFS8801J |
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Legal Form : |
Partnership Concern with an unlimited liability of the partners. |
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Line of Business : |
Manufacturers, Traders and Exporters of Surgical Dressing and
Disposables |
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. Partners are
reported as experienced and respectable businessmen. Trade relations are 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 : |
1st Floor, Khatri Market, Pali Bazar, Beawar – 305 901, |
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Tel. No.: |
91-1462-329209/ 255740 |
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Mobile No.: |
91-9314010540/ 9352410133/ 9214318174 |
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Fax No.: |
91-1462-258460/ 254689 |
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E-Mail : |
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Area : |
200 sq. ft. |
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Location : |
Owned |
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Factory 1 : |
Village Piplaja, Beawar, |
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Area : |
1.5 acres |
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Location : |
Owned |
PARTNERS
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Name : |
Mr. Ashok Khatri |
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Designation : |
Partner |
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Date of Birth/Age : |
37 Years |
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Qualification : |
Inter |
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Experience : |
8 Years |
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Name : |
Mr. Kanihya Lal |
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Designation : |
Partner |
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Date of Birth/Age : |
32 Years |
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Qualification : |
Post Graduate |
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Experience : |
5 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturers, Traders and Exporters of Surgical Dressing and
Disposables |
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Products : |
Surgical Dressing and Disposables |
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Exports : |
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Products : |
Surgical Dressing and Disposables |
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Countries : |
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Terms : |
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Selling : |
L/C, Cash and Credit basis |
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Purchasing : |
L/C, Cash and Credit at sight basis |
PRODUCTION STATUS
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Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
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Surgical Dressing and Disposables |
Tones |
-- |
30 Per Month |
As Per Demand |
GENERAL INFORMATION
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Customers : |
Ö
Local Customers Ö
End Users |
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No. of Employees : |
Around 18 (In Office – 3 and In Factory – 15) |
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Bankers : |
Û
Bank of Û
IDBI Bank Limited, |
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Facilities : |
The concern enjoys credit limit of Rs. 3.700 millions from Bank of
Baroda. |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
B. M. Vyas and Company Chartered Accountants |
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Address : |
Beawer, |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 3.500 millions |
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Borrowed : |
Nil |
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Total : |
Rs. 3.500 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 |
25.000 |
19.600 |
17.500 |
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Export Value |
1.700 |
1.500 |
1.400 |
LOCAL AGENCY FURTHER INFORMATION
Trade References :
Ö
Ö
Mamba
As Per Web
Profile :
Safe Surgical Industries
is India's one of the leading manufacturer and exporter company engaged in the
product line of Absorbent Cotton Wool, Nonabsorbent Cotton Roll, Uncarded
Bleached Cotton, Zigzag Cotton and Featherweight Quilts. They are the only company
throughout
Their state-of-the-art plant coupled with stringent quality and safety control,
guarantee the client of safe, secure, reliab!e product range. The quality
contra! department assures the quality of every product is flawless. The
strength of the company lies in the dedicated personnel in the area of
production, quality control and purchase management. The efficient management
team of the company constantly strives for the up-gradation of its human
resources and technical skills to keep pace with the ever-growing customer
expectations on quality and effectiveness.
Û
Absorbent Cotton Wool I.P. / B.P. (STERILIZE
& NON STERILIZE)
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Non absorbent Cotton Roll
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Uncarded Bleached Cotton
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Zigzag Cotton Pleats
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Featherweight Quilts
Key Features :
Û
Highly reliable quality of cotton wools and
rolls
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Punctual delivery schedules
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Reasonable prices
Û
Huge infrastructure
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Stringent quality control
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Skilled & dedicated staff
Û
Worldwide clientele
Strategy :
The basic business strategy is to indulge ourselves in quality production. In
order to generate high productivity at reasonable cost, they have appointed
best personnel from various fields. Their employees are the backbone of company
and they have full trust on them. Personalized customer service is additional
positive trait. They are always ready to answer our customer's queries and
eagerly wait for their feedback.
Aim:
The ultimate aim is to do their best and deliver customers best in the form of
highly reliable range of absorbent cotton wool, non-absorbent cotton roll,
uncarded bleached cotton, zigzag cotton and featherweight quilts. Understanding
the customer's requirement and meeting their expectations is the vision of
company.
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.40.59 |
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1 |
Rs.80.74 |
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Euro |
1 |
Rs.56.15 |
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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