MIRA
INFORM REPORT
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Report Date : |
25.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
ALPINE STAMPING |
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Registered Office : |
322, Adhyaru Industrial
Estate, Sun Mill Compound, Lower Parel (West), Mumbai – 400013, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
1997 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMA11980D |
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PAN No.: [Permanent
Account No.] |
AADFA1295N |
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Legal Form : |
Partnership
Concern with an Unlimited Liability of the Partners. |
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Line of Business : |
Manufacturing of Stamping
and Laminations, and also Manufacturer and Seller of CNRO/ CRGO/ CRCA,
Electrical, Stampings, laminations, E and U, U and T, Table fans, Ceiling
Fans, Mixi, Pump, Windmill, FTC Chokes and Transformers. |
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 20000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a
well-established concern having satisfactory track. Trade relations are fair.
General financial position is satisfactory. Payments are correct and as per
commitments. The concern can
be considered normal for business dealings at usual trade terms and
conditions. Mr. Narayan and
Mr. Satish up-dated the old report. |
LOCATIONS
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Registered Office : |
322, Adhyaru
Industrial Estate, Sun Mill Compound, Lower Parel (West), Mumbai – 400013,
Maharashtra, India |
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Tel. No.: |
91-22-403697979 |
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Mobile No.: |
91-9377000717 |
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Fax No.: |
91-22-40369799 |
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E-Mail : |
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Website : |
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Area : |
1000 sq. ft. |
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Location : |
Owned |
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Factory/
Godown: |
Survey No. 336/1, 338/1 – B, Kachigam, Nani Daman – 396 210, Gujarat,
India. |
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Tel. No.: |
91-260-2243524 |
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Mobile No.: |
91-9377000717 |
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Fax No.: |
91-260-2241465/
2241776 |
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E-Mail : |
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Website: |
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Area : |
25000 sq. ft. |
PARTNERS
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Name : |
Mr. Ravi Kumar Lodha |
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Designation : |
Partner |
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Date of Birth/Age : |
31 years |
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Qualification : |
Graduate |
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Experience : |
8 years |
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Name : |
Mr. Ashok Lodha |
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Designation : |
Partner |
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Date of Birth/Age : |
55 years |
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Qualification : |
Graduate |
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Experience : |
25 years |
BUSINESS DETAILS
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Line of Business : |
Manufacturing of
Stamping and Laminations, and also Manufacturer and Seller of CNRO/ CRGO/
CRCA, Electrical, Stampings, laminations, E and U, U and T, Table fans, Ceiling
Fans, Mixi, Pump, Windmill, FTC Chokes and Transformers. |
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Products : |
·
Auto Stacked
and Auto Skewed Rotor and Stator Stampings. ·
Ballasts and
Transformers ·
Laminations ·
Sheet Metal
Components ·
Motor/ Fan
Stampings |
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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) |
GENERAL
INFORMATION
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Customers : |
Local
manufacturing Units in Daman & Silvassa and Trader in Mumbai |
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No. of Employees : |
40 |
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Bankers : |
·
HDFC Bank
Limited, Mumbai ·
State Bank
of India Somnath Branch,
Daman – 396 215. |
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Facilities : |
Credit Limit:
Rs.2.500 Millions. |
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Banking
Relations : |
Satisfactory |
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Auditors : |
Not Available |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 5.000
Millions |
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Borrowed : |
- |
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Total : |
Rs. 5.000
Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2008 |
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Sales Turnover |
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30.000 |
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LOCAL AGENCY
FURTHER INFORMATION
Profile:
Subject is one of the largest manufacturers of Stampings and
Laminations in western India, was founded in 1997 with a vision to supply high precision
quality electrical steel stampings and laminations. The company manufactures
stampings used across a variety of products like transformers, ballasts,
motors, pumps, fans, wind mill generators and other special purpose
applications. With time, a capability to manufacture and offer value added
products like ballasts, transformers, die casted components, etc has also been
achieved.
Their is a modern press shop and tool room facility with the
very best in tool and coil handling equipments. The line up includes geared,
ungeared, pneumatic, mechanical and hydraulic presses of various tonnages.
Their latest addition is an imported high speed press of
200T. This gives us an added capability to produce stampings on progressive
tools of a diameter up to 350mm.
They can provide end to end services right from slitting and
shearing to stacking, punching, die casting and winding from their plant in
Central Sales tax exempt Union territory of Daman.
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.40.04 |
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UK Pound |
1 |
Rs.79.11 |
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Euro |
1 |
Rs.63.44 |
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 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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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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