MIRA
INFORM REPORT
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Report Date : |
30.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
SAREKO TOOLS AND FORGINGS |
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Registered Office : |
D-20, Focal Point, Jalandhar - 144001, Punjab |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1985 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
JLDS06053F |
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PAN No.: [Permanent
Account No.] |
AANFS1756J |
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Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners |
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Line of Business : |
Manufacturer and Exporter of Garden Tools and Hand Tools |
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 26000 |
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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. Sidharth Kalra |
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Designation : |
Partner |
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Date : |
22.04.2008 |
LOCATIONS
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Registered Office/ Factory : |
D-20, Focal Point, Jalandhar - 144001, Punjab, India |
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Tel. No.: |
91-181-2602266/ 5053166 |
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Mobile No.: |
91-9815752266 |
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Fax No.: |
91-181-2602166 |
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E-Mail : |
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Website : |
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Area : |
2500 sq. mtrs |
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Location : |
Owned |
PARTNERS
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Name : |
Mr. Sidharth Kalra |
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Designation : |
Partner |
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Address : |
Jalandhar |
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Date of Birth/Age : |
31 years |
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Qualification : |
Graduate |
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Experience : |
15 years |
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Name : |
Mr. Gautam Kalra |
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Designation : |
Partrner |
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Address : |
Jalandhar |
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Date of Birth/Age : |
30 years |
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Qualification : |
Graduate |
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Experience : |
12 years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Garden Tools and Hand Tools |
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Exports : |
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Products : |
· Garden Tools · Hand Tools |
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Countries : |
· UK · Germany · Ireland |
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Imports : |
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Products : |
Machinery and Parts |
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Countries : |
USA |
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Terms : |
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Selling : |
L/C, Cash and Credit (30 days) |
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Purchasing : |
L/C, Cash and Credit (30 days) Sight Against Documents |
GENERAL
INFORMATION
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Customers : |
· Local and
Foreigners · Retailers · End Users · Farmers · Plumbers · Carpenters
· Automobile
Engineers |
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No. of Employees : |
67 ( 7 – Office and 60 – Factory) |
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Bankers : |
Punjab and Sindh Bank, Jalandhar |
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Facilities : |
Rs.5.000 Millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Chopra and Malhotra Associates Chartered Accountant |
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Address : |
Jalandhar |
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Associates/Subsidiaries : |
N V Tools, Jalandhar |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.6.500 Millions |
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Borrowed : |
- |
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Total : |
Rs.6.500 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
40.000 |
37.500 |
37.200 |
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Profit/Loss for the year |
1.316 |
1.292 |
1.250 |
LOCAL AGENCY
FURTHER INFORMATION
Trade Reference
· V V Tools Limited, UK
· Gaedina – Germany
· D K Tools Limited, UK
Profile:
Subject has established its business competency in a large
gamut of tools that are superior in quality and sturdy in design. Being a
professionally managed company, maneuvered by industrial experts, ethical
conducts of the business are duly followed. Since its establishment in 1980,
the company has become one of the manufacturers, exporters and suppliers of
tools, viz. hand tools, garden tools, and plumbing tools, antique and
automotive tools.
The company has successfully extended the scope of its business activities in
the development of hardware and allied products that are excellent as DIY
tools. The unwavering commitment towards quality, innovations in product design
and regular up-gradation in manufacturing techniques, has altogether
contributed in improvising the capabilities of the company.
Trust
seal Acceptance Chart:
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Statutory Approvals |
Details |
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Income Tax
Registration (PAN) |
AANFS1756J |
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Central Sales
Tax Registration |
27999117 |
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State Sales Tax
Registration |
- |
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Service Tax Registration |
- |
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TIN Registration |
03771065417 |
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Import Export
Code |
1288007124 |
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Name of Bank |
Punjab and Sindh
Bank (IBD Branch) |
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Current Account
Number |
145 |
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Account Since |
Around 20 years |
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EMP PF
Registration Number |
- |
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RBI Code Number |
FS000233 |
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Credibility Factors |
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Indiamart Client
Since |
4 Years |
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Years of
Establishment |
1985 |
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Trade Affiliations |
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SSI Registration |
Yes – 160701534 |
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Export Promotion
Council |
Yes |
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Chambers of Commerce
Membership |
Yes |
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D and B D-U-N-S
Number |
- |
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Govt. Recognised
Export House Status |
No |
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Standards and Certifications |
No |
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.40.22 |
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UK Pound |
1 |
Rs.79.94 |
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Euro |
1 |
Rs.62.83 |
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 |
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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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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