MIRA
INFORM REPORT
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Report Date : |
21.09.2007 |
IDENTIFICATION DETAILS
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Name : |
NAMDAS PROCESS |
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Registered Office : |
13 / 2, New Rajshree Industries Complex, Narendra Silk Mill Compound, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1982 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer and Supplier of Metal Labels |
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 4000 |
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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 : |
13 / 2, New Rajshree Industries Complex, Narendra Silk Mill Compound,
S.V. Road, Thane – 400607, Maharashtra, India |
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Telfax. No.: |
91-22-25893502 |
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Mobile No.: |
91-9321041316 |
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E-Mail : |
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Area : |
450sq.fts |
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Location : |
Owned |
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Factory : |
Survey No. 162, |
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Tel No.: |
91-22-25973105 |
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Area : |
1200sq.fts (Build Up) 20000sq.fts ( |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. H. D. Namdas |
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Designation : |
Proprietor |
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Date of Birth/Age : |
42 years |
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Qualification : |
Under Graduate |
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Experience : |
25 years |
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BUSINESS DETAILS
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Line of Business : |
Manufacturer and Supplier of Metal Labels |
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Products : |
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Terms : |
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Selling : |
Cash and Credit (60 days) |
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Purchasing : |
Cash and Credit (30 days, 90 days) |
GENERAL INFORMATION
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Customers : |
Retailers |
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No. of Employees : |
8 |
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Bankers : |
³
DCB, Thane ³
Apna Sahakari Bank, Bhandup Branch |
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Facilities : |
C/C – Rs.0.200 million |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
B.K. Chorage and Company Chartered Accountants |
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Address : |
Thane |
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Tel. No.: |
91-22-25811581 |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.1.000 million |
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Borrowed : |
-- |
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Total : |
Rs.1.000 million |
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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4.800 |
3.600 |
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Expected Sales (2007-08) : Rs.6.000 millions
LOCAL AGENCY FURTHER INFORMATION
Trade References:
³
WMI Cranes Limited, Bhandup and Pune Branch
³
Flat Products Equipments India Limited, Taloja and
Silvassa Branch
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Emco Limited, Thane and Jalgaon Branch
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Dagger Forst Limited,
As per Web Details
Company Profile:
Labels indicate the true worth and details
of a product. They are the first impression of the product. Namdas Process is a leading manufacturer as
well as a supplier of a whole range of Metal Labels made in Stainless Steel, Anodized
Aluminium, Brass and Formica and Engravers, also, Other Labels, Metal Photo
Labels, Logos, Stickers and many other allied products. These labels are
made from the finest quality metals and are extremely long lasting and are
available in an appealing range of colors and prices.
Ever since their establishment in
the year 1982, they have given quality the utmost importance. The
timely delivery of products and their availability at reasonable prices are
some of the other highlights that have made them a brand name in the market.
Their motto is maintaining long lasting relations with their valued customers,
by providing them quality products. Their suggestions and feedbacks provide a
great impetus in making the necessary improvisation in their products.
Quality Assurance
Subject has a long
standing history of making only the best quality metal labels and allied
products. All the metals like stainless steel, anodized aluminium, brass and
formica are chosen with extreme care, ensuring their fine quality. The products
go through a stringent quality checking processes, so that they do not suffer
from the slightest of defects. In this respect, they adopt a very detailed
supervision at each and every level of production taking into consideration the
required national and international quality standards.
Infrastructure
The success of Namdas Process is to a large
extent due to the infrastructural set up that the company possesses. They have
a sound infrastructure, replete with an advanced and innovative technology,
coupled with an equally technically skilled employees. Regular upgradation of
machines takes place to ensure their smooth functioning. Their workforce is a
team united in giving the best of metal labels, other labels, and allied
products. They are dedicated, technically very skilled and knowledgeable. They
also have a warehouse facility, that, has all the necessary features like
adequate ventilation, protection against rodents and a large space to provide
accommodation to a bulk of goods, to meet various kinds of market demands.
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.39.91 |
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1 |
Rs.79.88 |
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Euro |
1 |
Rs.55.88 |
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 |
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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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