MIRA INFORM REPORT

 

 

 

Report Date :

18.08.2008

 

IDENTIFICATION DETAILS

 

Name :

SOLID EXPORTS (INDIA) LIMITED

 

 

Registered Office :

Plot No.500, Phase IV, GIDC, Opposite Indo-German Tool Room, Vatva, Ahmedabad – 382445, Gujarat

 

 

Country :

India

 

 

Date of Incorporation :

09.06.2008

 

 

Com. Reg. No.:

054161

 

 

CIN No.:

[Company Identification No.]

U52390GJ2008PLC054161

 

 

Legal Form :

A Closely Held Public Limited Liability Company

 

 

Line of Business :

Trader of Machinery Seaigments and Foods Products (FMCG Products)

 

RATING & COMMENTS

 

MIRA’s Rating :

C

 

RATING

STATUS

PROPOSED CREDIT LINE

<10

C

Absolute credit risk exists. Caution needed to be exercised

Credit not recommended

 

Status :

New Company

 

 

Payment Behaviour :

Unknown

 

 

Litigation :

Clear

 

 

Comments :

Subject is a new company and yet a establish track.

 

No payments records are available. No banker’s relations are known. No financials are yet available.

 

Initially, it would be prudent to deal with the concern on fully safe and secured trade terms and conditions.

 

 

INFORMATION PARTED BY

 

Name :

Mr. Sanket Shah

Designation :

General Manager

Contact No.:

91-9924300776

Date :

14.08.2008

 

 

LOCATIONS

 

Registered Office :

Plot No.500, Phase IV, GIDC, Opposite Indo-German Tool Room, Vatva, Ahmedabad – 382445, Gujarat, India

Tel. No.:

91-79-25890300/ 25833300

Fax No.:

91-79-25835300/ 25835300

Mobile No.:

91-9924300766/ 9924300776/ 9924300766

E-Mail :

contact@solidindia.net

contact@solidexports.com

Website :

http://www.solidexports.com

 

 

DIRECTORS

 

Name :

Mr. K. R. Umarlia

Designation :

Director

Date of Birth/Age :

50 years

Qualifications :

Graduate

Experience :

30 years

 

 

Name :

Mr. H.asmukhbhai V. Dodiaya

Designation :

Director

Address :

A-74, Girivar Bunglows, Ahmedabad – 380050, Gujarat, India

Date of Birth/Age :

03.12.1958

Qualifications :

L. LB

Experience :

30 years

 

 

Name :

Mr. Nipul H.asmukhbhai Dodiaya

Designation :

Director

Address :

A-74, Girivar Bunglows, Ahmedabad – 380050, Gujarat, India

Date of Birth/Age :

03.07.1982

 

 

Name :

Mr. Kumar H.asmukhbhai Dodiaya

Designation :

Director

Address :

A-74, Girivar Bunglows, Ahmedabad – 380050, Gujarat, India

Date of Birth/Age :

14.05.1986

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

(As on 03.06.2008)

Names of Shareholders

 

No. of Shares

 

 

 

H.asmukhbhai V. Dodiaya

 

24500

Nipul H.asmukhbhai Dodiaya

 

24500

Kumar H.asmukhbhai Dodiaya

 

200

Sandip K. Candhi

 

200

 

 

 

Total

 

49400

 

 

BUSINESS DETAILS

 

Line of Business :

Trader of Machinery Seaigments and Foods Products (FMCG Products)

 

 

Products :
  • Machineries and Plants
  • Industrial Supplies
  • FMCG Products
  • Packaging Materials
  • Projects

 

 

Exports :

 

Products :

FMCG Products

Countries :
  • Middle East
  • Asia
  • USA
  • Algeria
  • Australia
  • Afghanistan
  • Bangladesh
  • Burma
  • Caledonia
  • Dubai
  • Ethiopia
  • India
  • Iran
  • Iraq
  • Kosovo
  • Kuwait
  • Libya
  • Nepal
  • Nigeria
  • Oman
  • Pakistan
  • Russia
  • Srilanka
  • Sudan
  • Saudi Arabia
  • Sarawak
  • Senegal
  • Tahiti
  • Tanzania
  • Uganda
  • Yugoslavia
  • Yemen,
  • West Indies

 

 

Terms :

 

Selling :

Credit (30 days) T.T.

 

 

Purchasing :

Credit (15-30 days)

 

 

GENERAL INFORMATION

 

Customers :

OEM’s

 

 

No. of Employees :

35

 

 

Bankers :

Banks of Baroda

 

 

 

Banking Relations :

Unknown

 

 

Auditors :

Not Available

 

 

Associates/Subsidiaries :

Solid (India) Limited

Manufacturer and Exporter of Road Construction Equipments

http://www.solidindialtd.com

 

Solid Logistics Limited

World Wide Logistics Services

http://www.solidlogistics.in

 

Solid Infrastructure Limited

Road and Building Construction

http://www.solidinfrastructure.com

 

 

CAPITAL STRUCTURE

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

50000

Equity Shares

Rs.10/- each

Rs.0.500 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

50000

Equity Shares

Rs.10/- each

Rs.0.500 Million

 

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

No financials are available as the subject is a new company.

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

WEBSITE DETAILS:

 

PROFILE:

 

Subject is a multi-product and services company. The Company    has achieved continuous and substantial growth. The resources of the Company,    both human and financial, have grown to keep pace with the    expanse of    business.  Engineering product and services division is run by dedicated    stakeholders with varied experience in different business segments and active in    the field of, Engineering All Type of Quality Machineries and Industrial Supply, Industrial Projects and FMCG Products.

 

Over the years company has grown, by entering into strategic alliances and partnerships with Manufacturers in various fields.  Subject has experienced professionals on the team who operate in tandem with various agencies as one stop shop for best products and services from India. Subject today has a diversified range of products which are exported all over the Globe.

 

QUALITY:

 

They follow the ISO 9001-2000 Quality System. The Quality Management System of  Subject represents a combination of structure, responsibility, procedures, processes and resources to provide a general quality management based on the goals defined by the provisions of the organization's policy.

 

 

EXPORTS:

 

 

 

IMPORTS:

 

 

 

 

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

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.42.82

UK Pound

1

Rs.80.01

Euro

1

Rs.63.83

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

2

PAID-UP CAPITAL

1~10

1

OPERATING SCALE

1~10

-

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

-

--PROFITABILIRY

1~10

-

--LIQUIDITY

1~10

2

--LEVERAGE

1~10

3

--RESERVES

1~10

-

--CREDIT LINES

1~10

-

--MARGINS

-5~5

-

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

NO

--LITIGATION

YES/NO

NO

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

NO

--AFFILIATION

YES/NO

NO

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

TOTAL

 

8

 

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

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

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions