MIRA
INFORM REPORT
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Report Date : |
05.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
N R ENGINEERING |
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Registered Office : |
213, K.K Arcade, 98 Narayan Dhuru Street, Masjid,
Mumbai - 400 001, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
1997 |
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PAN No.: [Permanent
Account No.] |
AAFPT1458M |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer of Engineering
Fasteners includes Stud, Nuts, Bolt, Washers
and also Traders of Carbon, Alloy and Stainless Steel Products |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
Usd 5000 |
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Status : |
Small Concern |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a small traders. It’s payments are reported as slow. Level of activity is limited. It can be considered for small business dealings at usual trade terms
and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Nitesh |
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Designation : |
Manager |
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Date : |
30.07.2008 |
LOCATIONS
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Registered Office / Factory : |
213, K.K Arcade, 98 Narayan Dhuru Street, Masjid,
Mumbai - 400 001, Maharashtra, India |
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Tel. No.: |
91-22-22117732 / 23112805 / 23117732 |
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Fax No.: |
91-22-23112805 |
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E-Mail : |
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Area : |
150 Sq. Carpet |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mrs. Malti N Thakkar |
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Designation : |
Proprietor |
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Date of Birth/Age : |
34 years |
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Qualification : |
B. Com |
KEY EXECUTIVES
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Name : |
Mr. Nitesh |
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Designation : |
Manager |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Engineering
Fasteners includes Stud, Nuts, Bolt, Washers
and also Traders of Carbon, Alloy and Stainless Steel Products |
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Products : |
· Stainless Steel Machine Screws · Stainless Steel and High Tensil Studs · Stainless Steel M.S / S.S Pipes · Mild Steel Pipes |
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Terms : |
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Selling : |
Cash, Credit (30-60 days) |
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Purchasing : |
Cash, Credit (30-60 days) |
GENERAL
INFORMATION
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Customers : |
End Users |
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No. of Employees : |
5 |
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Bankers : |
Bank of Baroda, Mulund (West), Mumbai – 400 080, Maharashtra, India |
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Facilities : |
Cash Credit Limit – Rs. 1.000
million |
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Banking
Relations : |
---- |
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Auditors : |
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Name : |
Hitesh Shah and Company Chartered Accountants |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 1.000 million |
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Borrowed : |
--- |
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Total : |
Rs. 1.000 million |
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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25.000 |
Expected Sales (2008-09): Rs. 70.000
millions (Approximately)
LOCAL AGENCY
FURTHER INFORMATION
TRUSTSEAL ACCEPTANCE CHART
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Parameters |
Detail |
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Existence Verification |
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Name |
N R ENGINEERING |
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Statutory Approvals |
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VAT / TIN Registration |
276302781405 |
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Name of Bank |
Bank of Baroda |
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Current account Number |
D4070400000070 |
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Account Since |
3 years |
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Creditability Factors |
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India Mart Client Since |
3 years |
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Years of Establishment |
1997 |
WEBSITE DETAILS:-
The concern is the enterprises offering a wide range of engineering
fasteners and fittings to engineering sector. They manufacture engineering
fasteners, which are available in various sizes ranging from M12 to M60. Their
product range includes stud, nuts, bolt, washers, etc. They are also
specialized in manufacturing carbon, alloy and stainless steel products. They
are committed to their customers for supplying superior quality engineering
products.
Their services have already catered to different engineering sectors and
have a wide marketing network in both the national and international market.
They are always at the service of their clients and are committed to provide
more efficient, punctual, quantitatively and qualitatively services. They have
a goal to further expand their areas of service in terms of production.
Product Attributes
They are the manufacturer of diversified range of engineering products
and they carry out lot of research and development programs to develop the
effectiveness of their product’s performance. This not only enhances the
features of machineries qualitatively but also makes it unique. Further, they
can supply their range of products at most competitive price. Their specialized
array of products includes bolts, nuts, studs, pipes and pipe fittings, socket
head, washers and machine screws.
Qualities of their
product
Uniqueness of their products leads to its
wide scale acceptance and demand for their machineries are constantly
accelerating. Reasons for their large scale acceptance
- Good quality metal.
- Guaranteed for long term durability.
- Reasonable Price.
- Qualitative packaging.
- They provide free
sampling that gives the customer a good conception of the product.
Infrastructure
The concern has a self sufficient production unit that possesses all
sorts of infrastructural facilities. Their production technology is constantly
improving and they are upgrading the techniques in accordance with global
compliance. Metals used for their products are nationally approved. Their team
of workers is skilled professionals who are committed for qualitative delivery
of work. Machines of the concern are constantly under the stringent eyes of
skilled professionals because this assured for efficient service.
Machineries They
Possess
Their concern has latest technology and machineries that support their
standard of infrastructure and products. Machines they have:
· Drilling and Trapping machine
· Metallic processing machinery
· Wrapping Machine
· Hot Forging
· Pressure Die Casting
· Lathe Machines
· Lancers
· Polisher Grinder
Clientèle
The concern has a local and international goodwill in engineering sector
and their fame is increasing the number of clients regularly. They maintain a cordial
relation with their existing clients and give a warm care to their new clients.
Their responsibilities do not end with their sale but they remain with the
clients as long as they remain with them. Remembering their global reputation
they have clients across the globe. The concern is at the service of all the
sectors included within engineering industries.
Why Them ?
Utilizing their skills and special techniques of manufacturing, they
offer sophisticated services to their customers and always trying to satisfy
the needs of their esteemed clients.
· Delivering successfully services to their clients since last twenty years and committed for standard qualitative and quantitative range of work.
· They offer approved quality metals for their products.
· They customized the products as possible.
· They have their own in house design unit.
· Their concern tries to design and develop the products as per clients' specification.
· Elegance, durability of their product is the reason for its local acceptance and increase in number of global clients.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs. 42.40 |
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UK Pound |
1 |
Rs. 83.57 |
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Euro |
1 |
Rs. 66.02 |
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 |
4 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
3 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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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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30 |
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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