MIRA
INFORM REPORT
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Report Date : |
26.09.2007 |
IDENTIFICATION DETAILS
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Name : |
PARIMAL MANDIR |
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Registered Office : |
No. 114, 4th |
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Country : |
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Date of Incorporation : |
1983, Group (1944) |
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Legal Form : |
Partnership Concern with an Unlimited Liability of the partners. |
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Line of Business : |
Manufacture, Exporter and Importer of Incense Sticks (Agarbathies) and
Dhoop Stocks (Handrolled) |
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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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 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 (Existing) : |
No. 114, 4th |
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Tel. No.: |
91-80-26609945 / 26601434 |
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Mobile No.: |
91-9844024553 |
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Fax No.: |
91-80-26508095 |
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E-Mail : |
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Area : |
20000sq.fts |
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Location : |
Owned |
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New Proposed Head Office : |
Parimal House, Plot No.: 20 to 22, 8th |
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Tel. No.: |
91-80-32903462 |
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Area : |
20000sq.fts |
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Location : |
Owned |
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PARTNERS
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Name : |
Mr. S. Jagannath |
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Designation : |
Partner |
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Date of Birth/Age : |
57 years |
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Qualification : |
Business |
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Name : |
Mr. S. G. Vijay |
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Designation : |
Partner |
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Date of Birth/Age : |
40 years |
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Name : |
Mr. S.G. Ragjuram |
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Designation : |
Partner |
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Date of Birth/Age : |
44 years |
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Name : |
Mr. S.G. Radhakrishna |
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Designation : |
Partner |
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Date of Birth/Age : |
47 years |
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Qualification : |
Chemical Engineer |
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Name : |
Mr. S. G. Ajay |
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Designation : |
Partner |
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Date of Birth/Age : |
40 years |
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Qualification : |
Prtg. Technology |
BUSINESS DETAILS
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Line of Business : |
Manufacture, Exporter and Importer of Incense Sticks (Agarbathies) and
Dhoop Stocks (Handrolled) |
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Exports : |
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Countries : |
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Imports : |
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Countries : |
European countries |
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Terms : |
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Selling : |
Terms of Export: L/C Local Sales: as per customers |
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Purchasing : |
Terms of Import: Through Bank Local Purchase: Credit 30 - 45 days |
GENERAL INFORMATION
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Suppliers : |
˛
Benson and Company, ˛
Flavours and Fragrances ˛
M.K. Distribution company ˛
Vikas Organics |
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Customers : |
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Kolkata Sugandhi Dhoop, Kolkata ˛
Reliance Fresh ˛
Forum Mall ˛
Shoppers Stop Limited |
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No. of Employees : |
45 |
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Bankers : |
Central Bank of Brigade Road, |
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Banking
Relations : |
Satisfactory |
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Memberships : |
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All ˛
Karnataka Chambers of Commerce and
Industry (FKCCI) ˛
Basic Chemicals Pharmaceuticals ˛
Cosmetics Export Promotion Council
(CHEMIXIL). |
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CAPITAL STRUCTURE
Not Available
FINANCIAL DATA
[all figures are in
Rupees Millions]
Due to the non – availability of the concerned partner, financial
information not available. As soon as this is possible we shall revert
LOCAL AGENCY FURTHER INFORMATION
Notes:
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Investment around US$ 1,10,000
˛ Group Incorporation date: 1944
As per Web Details
Company Profile:
Subject is the reputed export house engaged in the trade of
manufacturing agarbattis. The company is known in the market as a prominent manufacturer, exporter
& supplier of incense stick
(agarbathies) and dhoop stick which have been the mark of
tradition and the smell of Indian heritage. After five decades of leadership in
incense stick making, today, Parimal is a name synonymous with quality products
in not only the domestic market, but also the global overseas market.
Subject likes to be known as a growing, competitive, can do
agarbatti & dhoop manufacturing company. The company has positioned itself
right in the forefront, by offering quality products, reliable service and competitive
pricing to its customers. And Subject believes that these very factors are the
corner stones of a successful business.
Their quality is the hallmark and has been the prime reason for
their phenomenal success. Each process is carefully monitored by their team of
experts. With a state-of-the-art infrastructure and a diligent workforce, they
have been able to crack through major deals time and again. The central focus
of their business is quality and they ensure immaculate quality resulting in higher
customer retention.
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.39.81 |
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1 |
Rs.80.03 |
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Euro |
1 |
Rs.56.02 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
9 |
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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 |
7 |
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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 |
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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52 |
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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