MIRA
INFORM REPORT
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Report Date : |
20.09.2007 |
IDENTIFICATION DETAILS
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Name : |
ENN KAY SEALS |
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Registered Office : |
S-10(I), Gali No.-10, Near |
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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 : |
Manufacturing of
Aluminum PP Caps, RO Caps, Side Embossed Chamfered Caps, Crown Caps and all kinds of Bottle Caps. |
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 36000 |
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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
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 : |
S-10(I), Gali No.-10, Near |
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Tel. No.: |
91-11-25761405/23552121 |
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Mobile No.: |
91-9811168200 |
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Fax No.: |
91-11-25740337 |
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E-Mail : |
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Website : |
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Area : |
4000 sq. ft. |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Dinesh Kumar Aggarwal |
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Designation : |
Sole Proprietor |
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Date of Birth/Age : |
44 Year |
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Qualification : |
Graduate |
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Experience : |
22 Year |
BUSINESS DETAILS
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Line of Business : |
Manufacturing of
Aluminum PP Caps, RO Caps, Side Embossed Chamfered Caps, Crown Caps and all kinds of Bottle Caps |
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Products : |
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Terms : |
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Selling : |
Cash and Credit basis |
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Purchasing : |
Cash and Credit basis |
PRODUCTION STATUS:
Capacity to increase production by: 35%
GENERAL INFORMATION
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Customers : |
Some of its major customer includes:
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No. of Employees : |
About 35 |
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Bankers : |
Oriental Bank of Commerce, Sadar Bazar, |
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Facilities : |
Availing O/D facility |
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Banking
Relations : |
Satisfactory |
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Memberships : |
New |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 9.000 millions |
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Borrowed : |
Nil |
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Total : |
Rs. 9.000 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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60.000 |
55.000 |
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Profit/Loss for the year |
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12% |
12% |
Expected Sales (2007-08):Rs. 75.000 Millions.
LOCAL AGENCY FURTHER INFORMATION
As Per Web:
Profile :
Enn Kay Seals is a well-established company beginning its operations way back in 1983. They are an accomplished manufacturer and exporter of a wide range of industrial spares such as Aluminum PP Caps, RO Caps, Side Embossed Chamfered Caps, Crown Caps and all kinds of Bottle Caps as per customer requirement. Their export markets span worldwide with an admirable 40% business share at the international level. An OBC credit rating has seen popularity further touching new heights amongst clientele. Their technically sound staff combined with their all round dedication has resulted in an excellent product line under the visionary leadership of their company's head.
Enn Kay Seals is an awesome
manufacturer and exporter of a varied range of products like:
§
Aluminum
PP Caps
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RO Caps
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Side
Embossed Chamfered Caps
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Crown
Caps, and
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All
kinds of Bottle Caps
Product Quality
The company is well-reputed for its superior product quality. They have drafted
a well laid out plan for product development in our business policy. Continuously working towards the same
direction, they have installed modern quality
checking techniques at company for checking their flaws at periodic
intervals. Real life like conditions has been introduced at company so that
products are passed through these stringent
test conditions. At each manufacturing stage products are duly watched
over by experienced personnel. Their product reputation has helped us get a membership in the prestigious New Rohtak Road
Mfg. Association.
Infrastructure
They are fully loaded with sound infrastructural abilities
that strengthen us in fulfilling all business objectives. For manufacturing a
diverse range of products they have installed
modern machineries as part of company infrastructure. Their built is
superior and their performance is in tune with the manufacturing procedures.
Their state-of-the-art infrastructure is
updated on a periodic basis by doing a sound investment on that. With a highly competent workforce at company
coupled with the superior technology,
products are living proofs of quality. They are hopeful that these efforts of
ours will lead us towards a total customer satisfaction and an expanded client
base.
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.39.87 |
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1 |
Rs.80.11 |
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Euro |
1 |
Rs.56.19 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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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 |
6 |
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--LEVERAGE |
1~10 |
6 |
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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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48 |
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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