MIRA
INFORM REPORT
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Report Date : |
07.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
CANOPUS INSTRUMENTS |
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Registered Office : |
1, ' Vishwas' Bulding, Ground Floor, Karnik Road, Off Murbad
Road, Kalyan (W), Mumbai– 421 304, Dist. Thane, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
1987 |
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IEC No.: |
0394059182 |
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PAN No.: [Permanent
Account No.] |
ABMPK4178J |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Engaged in the Development and Manufacturing of Industrial
Automation and Process Control Instrumentation Products |
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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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but 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.
Payments are reported as slow but correct. The concern can be
considered normal for business dealings at usual trade terms and
conditions. |
INFORMATION PARTED
BY
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Name : |
Ms. Manjusha Deshmukh |
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Designation : |
Assistant Manager |
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Contact No.: |
Mobile No. 91-9975666374 |
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Date : |
31.07.2008 |
LOCATIONS
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Registered Office : |
1, ' Vishwas' Bulding, Ground Floor, Karnik Road, Off
Murbad Road, Kalyan (W), Mumbai – 421 304, Dist. Thane, Maharashtra, India. |
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Tel. No.: |
91-251-2322576 |
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Fax No.: |
91-251-2325849 |
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E-Mail : |
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Website : |
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Location : |
Rented |
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Factory 1 : |
C/I/9, Ram Girdhar Industrial Estate, Station Road, Vitthalwadi
(West), Ulhasnagar, Mumbai - 421 003, Dist. Thane, Maharashtra, India. |
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Tel. No.: |
91- 251- 2568506 |
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Fax No.: |
91- 251- 2571829 |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Abhijit Kulkarni |
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Designation : |
Proprietor |
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Date of Birth/Age : |
50 Years |
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Qualification : |
M.E. (IIT) |
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Experience : |
22 Years |
BUSINESS DETAILS
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Line of Business : |
Engaged in the Development and Manufacturing of Industrial
Automation and Process Control Instrumentation Products |
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Products : |
·
Analog Signal Conditioning and Isolation
Modules ·
Prifibus Devices (Ci-800DP Series) ·
Concrete Ultrasonic Testing Equipment ·
Process Transmitter ·
Receiver Instruments · Control Panel Accessories |
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Exports : |
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Products : |
Instruments |
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Countries : |
Germany, Africa, China |
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Imports : |
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Products : |
I Cs, Raw materials |
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Countries : |
China. Germany |
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Terms : |
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Selling : |
Credit 30 days, Advance Payments |
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Purchasing : |
Credit 30 or 60 days, Advance Paymnets |
GENERAL
INFORMATION
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Customers : |
· Siemens
Limited · Larsen
and Toubro Limited · Eurotherm-Del
Limited · Kirloskar
Limited · Several
System Integrators of PLC Systems · Reliance
Industries Limited · Ispat
Industries Limited · Pfizer
Limited · Sail
- Rourkela Steel Plant · Deccan
Cements Limited, Hyderabad · Eveready
Industries India Limited, Navi Mumbai · Goodyear
India Limited, Faridabad · Haryana
Petrochemicals Limited, Haryana · Indian
Aluminium Limited · Indorama
Synthetics (I) Limited, Nagpur · JCT
Limited, Hoshiapur |
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No. of Employees : |
14 (In office-4, In factory-10) |
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Bankers : |
Kalyan Janta Sahakari Bank, Kalyan Branch |
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Facilities : |
CC - Rs.0.800 Million |
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Banking
Relations : |
--- |
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Auditors : |
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Name : |
Attar and Company Chartered Accountants |
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Address : |
Kalyan |
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Tel. No.: |
91-22-2318458 |
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Associates/Subsidiaries : |
NIL |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
NA |
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Borrowed : |
NA |
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Total : |
NA |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2008
(Approximately) |
31.03.2007
(Approximately) |
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Sales Turnover |
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18.200 |
15.300 |
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Expected Sales (2008-09): Rs.25.000 Millions
LOCAL AGENCY
FURTHER INFORMATION
TRUSTSEAL ACCEPTANCE CHART:
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Parameters |
Detail |
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Existence
Verification |
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Name |
CANOPUS INSTRUMENTS |
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Statutory
Approvals |
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Income Tax
Registration |
ABMPK4178J |
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State Sales Tax
Registration |
27140020338 dated 01.04.2006 |
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VAT/ TIN
Registration |
27140020338 V |
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Excise
Registration |
ABMPK4178J XM 001 |
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Import Export
Code |
0394059182 |
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Name Of the Bank |
Kalyan Janta Sahakari Bank |
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Current Account
Number |
AC 51 |
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Account Since |
15 Years |
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Credibility
Factors |
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India Mart
Client Since |
2 Years |
TRADE REFERENCES:
·
Siemens Limited - India
·
Larsen and Toubro Limited – Mumbai
·
ABB Limited - Bangalore
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.42.00 |
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UK Pound |
1 |
Rs.82.14 |
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Euro |
1 |
Rs.65.09 |
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 |
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 |
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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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