MIRA INFORM REPORT
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Report Date : |
23.08.2008 |
IDENTIFICATION DETAILS
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Name : |
SUPREME
SILICONES |
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Registered Office : |
20/1,
Shewenta Heights, First floor, Dhankawadi, Pune – 411 043, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2008
(Estimated) |
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Year of Establishment : |
2003 |
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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 Silicone Emulsion, Anti foam Emulsion, Activated
Silicone Fluid, Amino Silicone Emulsion, Defoamer, Textile Softener and Mold
Release Agents. |
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
23000 |
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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 concern started by three qualified Chemical engineers who were together
in hostel during their study. Trade relations are fair. Payments are 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.
Abhijeet Goswami |
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Designation
: |
Partner
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Contact
No.: |
91-9823359104 |
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Date
: |
21.08.2008 |
LOCATIONS
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Registered Office : |
20/1,
Shewenta Heights, First floor, Dhankawadi, Pune – 411 043, Maharashtra, India
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Tel. No.: |
91-20-24361070 |
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Mobile No.: |
91-9822281671/
9823359104 |
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Fax No.: |
91-240-2554194
/ 91-20-24361070 |
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E-Mail : |
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Website : |
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Area : |
3000
sq. ft. |
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Location : |
Owned |
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Factory
: |
K –
170, MIDC, Waluj, Aurangabad, Maharashtra, India |
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Area : |
10000
sq. ft. |
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Location : |
Owned |
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Branch : |
H/55,
MIDC, Waluj Aurangabad, Maharashtra, India |
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Tel No.: |
91-240-2554194 |
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Area : |
20000
Sq.fts |
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Location : |
Owned |
PARTNERS
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Name : |
Mr.
Omkar Ramesh Kamble |
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Designation : |
Partner
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Date of Birth/Age : |
28
Years |
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Qualification : |
B. E.
Graduate (Chemicals) M. B. A. |
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Experience : |
8
Years |
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Mobile No.: |
91-9225519589 / 9822281671 |
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Name : |
Mr.
Abhijeet Suryawanshi |
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Designation : |
Partner
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Date of Birth/Age : |
28
Years |
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Qualification : |
B.
Tech.(Chemicals), M B A (B. Tech.), Post Graduate in Import-Export |
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Experience : |
7Years
|
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Name : |
Mr.
Abhijeet Goswami |
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Designation : |
Partner
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Date of Birth/Age : |
28
Years |
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Qualification : |
B. E.
(Chemicals), Post Graduate (in Import and Export ) |
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Experience : |
7Years
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BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Silicone Emulsion, Anti foam Emulsion, Activated Silicone
Fluid, Amino Silicone Emulsion, Defoamer, Textile Softener and Mold Release
Agents. |
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Products : |
·
Rubber Chemicals o
Silicone Mould
Release Emulsion o
Shining
Emulsion o
Silicone Fluid o
Poly Urethane
(PU) Release Agent ·
Antifoam/Defoamers o
Powder Antifoam
o
Antifoam/Defoamer
Emulsion (10% to 50%) o
Activated
Silicone Fluid o
Non-Silicone
Antifoam ·
Construction Chemicals o
Water Proofing
Chemicals o
Silane Siloxane
Based Water Repellents o
Textile
Chemicals o
Amino Silicone
Fluid ·
Textile Softeners o
Antifoam/Defoamer
Emulsion o
Activated
Silicone Oil (100%) ·
Specialty Silicones. |
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Exports: |
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Products : |
Silicone Emulsion, Anti foam Emulsion,
Activated Silicone Fluid, Amino Silicone Emulsion, Defoamer, Textile Softener |
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Countries : |
South
Arabia, U. A. E, Pakistan, Malaysia, Middle East,
Arab Countries, South East, Africa and Europe, South East, Singapore and East
Asian countries. |
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Imports: |
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Products : |
Silicone
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Countries : |
China,
Germany |
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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 (30/60 days) |
GENERAL INFORMATION
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Customers : |
Wholesalers,
Retailers and End Users |
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No. of Employees : |
20 (5
in Office and 15 in Branch) |
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Bankers : |
v
State
Bank of Hyderabad Waluj Aurangabad, Maharashtra,
India v
Karad
Urban Bank Limited Dhankawdi Branch, Pune,
Maharashtra, India v
Bank
of Maharashtra Padmawati Branch, Pune, Maharashtra,
India v
HSBC
Bank, Pune, Maharashtra, India Pune, Maharashtra, India |
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Facilities : |
From HSBC Bank The
concern do not enjoy facilities from its banker |
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Membership : |
DIC |
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Associates : |
Explicit Chemicals Private Limited, Pune,
Maharashtra,
India |
CAPITAL STRUCTURE
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Capital
Investment : |
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Owned : |
Rs.
1.000 millions |
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Borrowed : |
Rs.
3.500 millions |
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Total : |
Rs.
4.500 millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
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Particulars |
31.03.2008 (Estimated) |
31.03.2007 |
31.03.2006 |
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Sales Turnover |
12.000 |
10.000 |
8.500 |
Sales
for the year (2008-09) expected to increase by 25%
LOCAL AGENCY FURTHER INFORMATION
Trade Reference :
v
Devgari
Latex, Aurangabad
v
K K
Chemicals Industries, Mumbai
v
Dow
Corning India Private Limited, Bandra, Mumbai – 400050
v
Wockhardt
Limited, Mumbai
v
Wacker
Metro Arc, Mumbai
v
Amea
Die Chem Industries, Baroda
WEBSITE
DETAILS:-
Concern
Profile:
Subject is a manufacturer and exporter of Silicone Emulsion, Anti foam Emulsion, Activated Silicone Fluid, Amino Silicone Emulsion, Defoamer, Textile Softener and Mold Release Agents. The concern is growing in leaps and bounds not only in domestic but also in the international market. Committed to excellence and quality, their team is a dedicated group of individuals striving to give the best.
"Helping
customers to improve their productivity is something they are very familiar
with." The concern is
successfully marching ahead in various countries across the globe. They have an
impressive growth record both in the domestic as well as in international
markets. The people are committed to excellence; superior product quality is a
goal of everyone, and they are proud of their ability to provide the best
products for their needs. They are totally committed to supply their customers
with the highest quality products, supported by highest quality services. They
are glad to present a spectrum of speciality
and laboratory chemicals under the flagship of Explicit Chemicals
Private Limited.
The concern and Explicit Chemicals Private Limited are equipped with the latest
technology and keeps updating through indigenous R and D activities. They have
manufacturing facilities at Aurangabad as well as at Pune. Throughout its
development they have modified their product offerings, concentrating efforts
on products that deliver the greatest value to customers. This has enabled the
group to differentiate its products through customization, resulting in
superior performance.
Products
Their product range covers a wide variety of Silicone Specialty Chemicals. The superior quality and competitive prices are the virtues they aspire to imbibe and sustain all through. Their wide product profile covers:
Silicones product range covers
©
Silicone Antifoam
/ Defoamer Emulsion
©
Silicone Mold
Release Emulsion
©
Activated
Silicone Fluid (100% Antifoam)
©
Amino Textile
Softener
Speciality and Laboratory Chemicals range
covers
©
Phthalimide
©
Potassium
Phthalimide
©
Alloxan
Monohydrate
©
Murexide
(Ammonium Purpurate)
©
Di Iso Propyl
Succiniate
©
3 Cyclohexyl
Propionic Acid
©
Para Chloro Benzo
Nitrile
©
Ninhydrin
©
Chloramine T
Trihydrate
©
Sodium Lauryl
Sulphate
©
Barbituric Acid
©
Quaternary
ammonium salts in water and in methanol
©
Tetra Methyl
Ammonium Hydroxide in Water
©
Tetra n -Propyl
Ammonium Hydroxide in water
©
Tetra n-Butyl
Ammonium Hydroxide in water
Infrastructure
The concern is equipped with the latest technology and modern machineries, keeping the pace of innovation moving. The efficient line of their professionals are motivated by goal orientation and driven by result procurements. Their proficiency enables them to manufacture better and superior. The R and D is essentially a manifestation of commitment towards the fulfillment of all customer requirements and they are proud of their team for meeting the same.
Quality
Subject is an ISO 9001:2000 certified concern,
always strive to provide the most premium of the quality available in the
market. Their products have excellent properties including low volatility and
resistance to silica separation. Their defoamers are one of the fastest
defoamers of any Simethicone made these days. At the same time the activated
silicone fluid, they produce demonstrates bubble coalescing activity and
facilitates lubricity. The quality checks maintained by them help reduce
inaccuracy and bring much contentment to clients.
Product Features
The Silicone Emulsion, Anti foam Emulsion, Activated Silicone Fluid, Amino Silicone Emulsion, Defoamer, Textile Softener and Mold Release Agents manufactured by them are qualitative products characterizing the following:
v Stable over wide pH range
v Very good foam knock down performance
v Excellent foam control persistence
v Easy to disperse in non-aqueous systems
v Complies with key chemical control laws and regulations
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
|
Currency |
Unit
|
Indian Rupees |
|
US
Dollar |
1 |
Rs. 43.38 |
|
UK
Pound |
1 |
Rs. 81.34 |
|
Euro |
1 |
Rs. 64.55 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
|
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 |
YES |
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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 |
|
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
|
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 |
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