MIRA
INFORM REPORT
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Report Date : |
11.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
A S ENTERPRISES |
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Registered Office : |
Khasra No. 28/23/2, Village Badli, New Delhi – 110042 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1971 |
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IEC No.: |
0595033865 |
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Legal Form : |
Sole Proprietory Concern. |
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Line of Business : |
Manufacturer and Exporter of P U Foam Processing and Cutting Machines,
Max Foam Plants, Batch Foam Plants Polyurethane Foaming Machines |
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 32000 |
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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. Trade relations are fair. Business is active. Payments
are reported as usually correct and as per commitments. The concern can be considered normal for business dealings at usual
trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Ashok Puri |
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Designation : |
Proprietor |
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Date : |
10.04.2008 |
LOCATIONS
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Registered Office/ Factory : |
Khasra No. 28/23/2, Village Badli, New Delhi – 110042, India |
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Tel. No.: |
91-11-27855570/ 27857561 |
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Mobile No.: |
91-9811109929/ 9868545175 |
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Fax No.: |
91-11-27853498 |
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E-Mail : |
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Website : |
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Area : |
700 sq. mt |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Ashok Puri |
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Designation : |
Proprietor |
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Date of Birth/Age : |
60 years |
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Qualification : |
Graduate |
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Experience : |
35 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of P U Foam Processing and Cutting Machines,
Max Foam Plants, Batch Foam Plants Polyurethane Foaming Machines |
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Products : |
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Exports : |
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Products : |
All Products |
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Countries : |
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Terms : |
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Selling : |
L/C, Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS
Capacity to increase production by:
30%
GENERAL
INFORMATION
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Suppliers : |
Own Manufacturing (Purchase of Raw Material from Open Market) |
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Customers : |
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No. of Employees : |
80 |
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Bankers : |
Indian Overseas Bank |
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Facilities : |
Yes |
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Banking
Relations : |
Satisfactory |
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Auditors : |
Not Available |
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Memberships: |
EEPC, Delhi Chamber of Commerce |
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Associates/Subsidiaries : |
Allied Foam Private Limited |
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Address : |
11-D, Udyog Kendra, Greater Noida, District, Gautam Budh Nagar, Noida,
Uttar Pradesh, India |
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Tel No.: |
91-120-2351097/ 2350304 |
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Fax No.: |
91-120-27853498 |
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Email : |
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Website: |
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Activities: |
PU Foam Sheets, Mattresses, Cushion, Pillows Foam, Rexine and P U
Products. |
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Employees: |
90 |
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Sales Turnover : |
Rs.110.000 Millions |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.8.000 Millions |
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Borrowed : |
- |
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Total : |
Rs.8.000 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
31.03.2008 |
31.03.2007 |
31.03.2006 |
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Sales Turnover |
40.000 |
32.500 |
30.000 |
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Profit/Loss for the year |
NA |
11% |
11% |
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Export Value |
NA |
65% |
NA |
Expected Sales (2008-09) : Rs.50.000 Millions
LOCAL AGENCY
FURTHER INFORMATION
Profile:
Subject was established way back in 1971 as an automobile
accessories manufacturing company. The expertise gained over the years in metal
fabrication and the vast experience of its founder, Mr. Ashok Puri in foam
manufacturing initiated the manufacturing venture of cutting and processing
machines for flexible polyurethane foam in 1989.
Subject has emerged as the leader in the country in the manufacturing of
cutting and processing machines for polyurethane foam. Their product line is
very broad and versatile and includes both manual and automatic cutting
machines for processing both flexible as well as rigid polyurethane foam. All
machines incorporate latest technical developments. Since 2001 they have
facilitated their machines to comply with EC and ANSI regulations regarding
safety and electricity.
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
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.39.95 |
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UK Pound |
1 |
Rs.78.91 |
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Euro |
1 |
Rs.63.24 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
8 |
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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 |
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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50 |
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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