MIRA
INFORM REPORT
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Report Date : |
21.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
AIROX NIGEN EQUIPMENTS PRIVATE LIMITED |
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Registered Office : |
Flat No. 2, B Wing, Jatayu Sector 5, Srishti Complex, Mira Road East,
District Thane, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2003 |
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Date of Incorporation : |
31.10.1994 |
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Com. Reg. No.: |
082550 |
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CIN No.: [Company
Identification No.] |
U99999MH1994PTC082550 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
PNEA06757C |
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PAN No.: [Permanent
Account No.] |
AAACA4203G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer, Exporter and Importer of Gas Plants and
Engineering Equipments |
RATING &
COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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Maximum Credit Limit : |
USD 3088 |
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Status : |
Moderate |
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Payment Behaviour : |
Delayed |
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Litigation : |
Unknown |
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Comments : |
Subject is poor in Corporate Governance and Compliance. Further, it is
not favorably spoken in the market for its dealings. Its payments are delayed
as informed. The company can be considered for small business dealings on safe and
secured trade terms and conditions. It can be ignore for any business
dealings. |
LOCATIONS
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Registered Office : |
Flat No. 2, B Wing, Jatayu Sector 5, Srishti Complex, Mira Road East,
District Thane, Maharashtra, India |
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Website : |
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Corporate Office 1: |
410, 4th Floor, Sarthik Square, Ahmedabad – 380054,
Gujarat, India |
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Corporate Office 2: |
E-5/504, Gaurav Galaxy, Mira Road (East), Thane – 401107, Maharashtra,
India |
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Corporate Office
3: |
G-001, Nityanand Nagar, Mira Road (East) - 401104,
Maharashtra, India. |
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Corporate Office
4: |
21, The Chambers, Near Hotel
The Grand Bhagwati, Off Gandhinagar Sarkhej Highway, Bodakdev, Ahmedabad –
380054, India. |
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Tel. No.: |
91-79-26841322/
26841355/ 26841366 |
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Mobile : |
91-9825109744/
9825109733/ 9825151184 |
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Factory : |
L 2326/2, GIDC, Phase III, Vapi – 396191, Gujarat, India |
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Overseas Agents : |
Located at: · Dubai · Bangladesh · Singapore · USA · UK · France · Italy ·
South Africa |
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Regional Office: |
Mumbai AF-11, First Floor, New Empire
Ind. Estate, Kondivitta Lane, J.B. Nagar, Andheri- East Mumbai - 400059,
India Phone and Fax:
+91-22-28272079/ 28385474/ 39401544 Mobile No.:
91-9820070402/ 9384258025. VAPI 7 Atish Bunglows Gokul
Vihar Vapi Gujarat 396195 Phone and Fax: 91-260 -2428470
Mobile No.:
91-9879110479 SURAT Mobile No.:
91-9327916402. ANKLESHWAR Mobile No.:
91-9327916406. CHENNAI Mobile No.:
91-9327916406. HYDERABAD Mobile No.:
91-9327916406. DELHI Mobile No.:
91-9327916406. BANGALORE Mobile No.:
91-9327916406. |
DIRECTORS
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Name : |
Mr. Anil Kumar Agrawal |
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Designation : |
Director |
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Address : |
2-G, Nitvanand Nagar, Mira Road (East), Thane – 401107, Maharashtra,
India |
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Date of Birth/Age : |
29.10.1966 |
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Date of Appointment : |
31.10.1994 |
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Name : |
Ms. Surbhi Anil Agrawal |
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Designation : |
Director |
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Address : |
2-G, Nitvanand Nagar, Mira Road (East), Thane – 401107, Maharashtra,
India |
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Date of Birth/Age : |
13.11.1971 |
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Date of Appointment : |
31.10.1994 |
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Name : |
Mr. Ramprasad P. Agrawal |
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Designation : |
Director |
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Address : |
2-G, Nitvanand Nagar, Mira Road (East), Thane – 401107, Maharashtra,
India |
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Date of Birth/Age : |
23.11.1942 |
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Date of Appointment : |
31.10.1994 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 25.09.2000)
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Names of Shareholders |
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No. of Shares |
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Mr. Anil Kumar Agrawal |
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500 |
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Ms. Surbhi Anil Agrawal |
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500 |
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Total |
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1000 |
(As on 25.09.2000)
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Category |
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Percentage |
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Directors or relatives or directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Exporter and Importer of Gas Plants and
Engineering Equipments |
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Products : |
· Gas
Drying Equipments · PSA Nitrogen Gas Generators · PSA Oxygen Gas Generators · Ammonia Cracking Units · Compresses Air and Gas Drying Systems. · Hydrogen Gas Generator · Gas Purification Units · Gas Analyzers and Detection System · Process Filters and Separators – Air, Gas and Liquid · Fabricated Equipment’s · Spares and Services (Small Desc.) |
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Exports : |
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Products: |
Gas Plants |
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Countries: |
· Kuwait · Saudi
Arabia · Bangladesh · Dubai · China · Taiwan · Singapore · Malaysia,
· Middle
East |
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Imports : |
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Products: |
· Raw
Materials |
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Countries: |
· Germany · China
· U.K. |
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Terms : |
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Selling : |
L/C, Cash and Credit |
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Purchasing : |
Cash |
GENERAL
INFORMATION
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Customers : |
· Aryan Pesticides Limited, Roha. · Aarti Industries Limited, Vapi. · Aarti Industries Limited, Gajadia. · Aarti Organics Limited, Vapi. · Alkem Labs Limited, Daman. · Bilag Limited. (Company of Hoesct AG), Vapi. · Bajaj Auto Limited, Pune. · Bloom Packaging Limited, Daman. · Bageria Die Chemicals Limited, Vapi. · Cipla Limited, Kurkumbh. · Cipla Limited, Patalganga. · Deepak Nitrite Limited, Roha. · Dhiraj Intermidates Limited, Vapi. · Expanded InCorporation, Rabale. · Erei Chemicals Limited, Vapi. · Flex Chemicals Limited, Gwalior. · Gandhi Special Tubes Limited, Halol. · Gujrat Alkali and Chemicals Limited. · Gcem, Singapore · Haldiram Foods, Nagpur. · Hindustan Ink and Resins, Vapi. · Hindustan Lever Limited, Hosur. · Hindustan Lever Limited, Silvassa. · Hindustan Lever Limited, Mysore. · Indian Navy Ship. · Indo Propkem Limited, Daman. · JaiCorp Limited, Aurangabad. · Jindal Drilling and Industries Limited, Nagothone. · Kasana Foods Private Limited, Nagpur. · Mahaval Organics Limited, Tarapur. · Magna Labs Private Limited, Vapi. · Mitsu Industries Limited, Vapi. · National Chemical Labs, Pune. · NHB Bearing Limited, Amalsad. · Nicholas Piramal (India) Limited, Thane. · PCA, Silvassa. · Pearl Engin.. Polymers, Kurkumbh. · Prag Bosimi Synthetic Limited, Guwahati. · Ramashree Conductors, Ambernath. · Sanjeevani Parental Limited, Rabale. · Speciality Sintered, Pune. · Supreme Offshore, Bombay. · The Bombay Dyeing (Modifications), Patalganga. · United Phosphorous Limited, Vapi. · Vital Health Care Private Limited, Nasik. · Vipras Castings Limited, Maharashtra. · Welspun Syntex Limited, Silvassa. |
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No. of Employees : |
120 |
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Bankers : |
· HDFC Bank Limited S.G. Road, Ahmedabad, Gujarat, India |
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Banking
Relations : |
Unknown |
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Auditors : |
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Name : |
A K Govil and Company Chartered Accountant |
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Associates/Subsidiaries : |
·
Anirudh
Industries Address: Ahmedabad, Gujarat, India Line of Business: Traders of Chemicals |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Share |
Rs.10/- each |
Rs.0.100 Million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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Not Available |
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FINANCIAL DATA
[all figures are in Rupees Millions]
No financials are available after March 2003.
The company is poor in Corporate Governance and Compliance.
Mr. Chirag (91-79 40029591/ 94 – 998031673) Committed several times to
provide financial details but failed to do so.
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2003 |
31.03.2002 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.100 |
0.100 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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0.672 |
0.492 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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0.772 |
0.592 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
0.048 |
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2] Unsecured Loans |
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0.000 |
0.118 |
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TOTAL BORROWING |
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0.000 |
0.166 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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0.772 |
0.758 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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2.656 |
1.475 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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0.000 |
0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.000 |
0.000 |
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Sundry Debtors |
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0.000 |
0.000 |
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Cash & Bank Balances |
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10.795 |
6.739 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
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0.000 |
0.000 |
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Total
Current Assets |
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10.795 |
6.739 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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12.679 |
7.456 |
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Provisions |
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0.000 |
0.000 |
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Total
Current Liabilities |
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12.679 |
7.456 |
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Net Current Assets |
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(1.884) |
(0.717) |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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0.772 |
0.758 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2003 |
31.03.2002 |
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Sales Turnover |
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26.360 |
14.971 |
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Other Income |
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0.000 |
0.000 |
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Total Income |
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26.360 |
14.971 |
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Profit/(Loss) Before Tax |
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0.504 |
0.432 |
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Provision for Taxation |
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0.065 |
(3.338) |
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Profit/(Loss) After Tax |
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0.439 |
3.770 |
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Total Expenditure |
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25.856 |
14.539 |
KEY RATIOS
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PARTICULARS |
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31.03.2003 |
31.03.2002 |
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PAT / Total Income |
(%) |
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1.66 |
25.18 |
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Net Profit Margin (PBT/Sales) |
(%) |
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1.91 |
2.88 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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3.75 |
5.26 |
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Return on Investment (ROI) (PBT/Networth) |
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0.65 |
0.73 |
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Debt Equity Ratio (Total Liability/Networth) |
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16.42 |
12.87 |
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Current Ratio (Current Asset/Current Liability) |
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0.85 |
0.90 |
LOCAL AGENCY
FURTHER INFORMATION
Trade Reference:
· Hindustan Lever Limited, Mumbai
· Hindustan Ink Inducives Limited, Mumbai
Fixed Assets:
·
Leasehold
·
Land and Building
·
Office Equipments
·
Furniture and fixture
·
Computer
·
Car
·
Bajaj Scooters
·
Plant and Machinery
As per website:
Profile:
The Subject was started in the year 1993 by Mr. Anil K.
Agrawal and Mrs. Surbhi Agrawal.
Mr. Anil K. Agrawal has 20 years of experience in Design, Engineering,
Manufacturing and Commissioning of Adsorption Based Gas Generators and Gas
Drying Equipments.
Subject has 3 well equipped Factories. Two at Vapi and
one with very large capacity at Ahmedabad.
Subject has there corporate office at Ahmedabad and branch
offices at Mumbai and all major cities of India and few offices abroad.
They have around 120 workers (including contract workers)
and 25 qualified engineers to efficiently execute the project. In a very short
span of 12 years their group turnover has reached around 10 cores.
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 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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.39.96 |
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UK Pound |
1 |
Rs.78.66 |
|
Euro |
1 |
Rs.63.31 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
2 |
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PAID-UP CAPITAL |
1~10 |
2 |
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OPERATING SCALE |
1~10 |
- |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
- |
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--PROFITABILIRY |
1~10 |
- |
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--LIQUIDITY |
1~10 |
1 |
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--LEVERAGE |
1~10 |
2 |
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--RESERVES |
1~10 |
- |
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--CREDIT LINES |
1~10 |
- |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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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 |
|
7 |
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
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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