MIRA
INFORM REPORT
|
Report Date : |
28.08.2008 |
IDENTIFICATION
DETAILS
|
Name : |
TRIVENI CHEMICALS |
|
|
|
|
Registered Office : |
135, Pancharatna Char Rasta, GIDC, Vapi – 396 195, Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2008 (Estimated) |
|
|
|
|
Year of Establishment : |
1986 |
|
|
|
|
IEC No.: |
0305029908 |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AEQPS7860G |
|
|
|
|
Legal Form : |
Sole Proprietory Concern |
|
|
|
|
Line of Business : |
Manufacturer and Exporter of Organic and Inorganic Chemicals, Bulk
Drug and Solvents |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well – established concern having satisfactory track.
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
|
Name : |
Mr. K K Singh |
|
Designation : |
Proprietor |
|
Contact No.: |
91-260-2400022 / 3264008 / 6640218 |
|
Date : |
23.08.2008 |
LOCATIONS
|
Registered Office : |
135, Pancharatna Char Rasta, GIDC, Vapi – 396 195, Gujarat, India |
|
Tel. No.: |
91-260-2400022 / 3264008 / 3264412 / 6640218 |
|
Fax No.: |
91-260-2400022 |
|
E-Mail : |
sales@trivenichemical.com, |
|
Website : |
|
|
Area : |
3000 Sq.fts |
|
Location : |
Owned |
|
|
|
|
Factory : |
GIDC Sarigam , India |
|
Tel. No.: |
91-260-2400022 / 3264008 / 3264412 / 6640218 |
|
Fax No.: |
91-260-2400022 / 3264008 / 3264412 / 6640218 |
|
E-Mail : |
|
|
Location : |
Owned |
SOLE PROPRIETOR
|
Name : |
Mr. K K Singh |
|
Designation : |
Proprietor |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Organic and Inorganic Chemicals, Bulk
Drug and Solvents |
|
|
|
|
Products : |
· Active Pharmaceuticals Ingredients · Acid · Chloride · E.D.T.A · Nitrate |
|
|
|
|
Exports : |
|
|
Products : |
Inorganic Chemicals |
|
Countries : |
Europe, Gulf, Asia, Africa |
|
|
|
|
Terms : |
|
|
Selling : |
L/C, Cash, Credit (30 days) |
|
|
|
|
Purchasing : |
L/C, Cash, Credit (30 days) |
PRODUCTION STATUS
|
Particulars |
|
Unit |
Installed
Capacity |
Actual
Production |
|
Fluoride |
|
MT |
100 Per month |
80 |
|
Nitrate |
|
MT |
100 Per month |
80 |
|
Sulphate |
|
MT |
500 Per month |
400 |
GENERAL
INFORMATION
|
Customers : |
End Users |
|
|
|
|
No. of Employees : |
60 (15 in Office and 45 in Factory) |
|
|
|
|
Bankers : |
· ICICI Bank Limited · State Bank of Indore |
|
|
|
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Auditors : |
|
|
Name : |
Desai Gajjar and Company Chartered Accountants |
|
|
|
|
Associates/Subsidiaries : |
· Harshil Industries · J B Chem Industries |
CAPITAL STRUCTURE
|
Capital Investment : |
Not Available |
FINANCIAL DATA
[all figures are in Rupees Millions]
|
Particulars |
|
|
31.03.2008 (Estimated) |
|
Sales Turnover |
|
|
100.000 |
Expected Sales (2008-09): Rs. 160.000 millions
LOCAL AGENCY
FURTHER INFORMATION
TRADE REFERENCES:-
· Pharma Industries, Noida, Uttar Pradesh
· Aditya Birla Limited, Chennai
· Bharat Aluminium Limited, Korba, Chattisgarh
WEBSITE DETAILS:-
Concern Profile
The concern is the
manufacturer and supplier of industrial chemicals, meeting the demand of
various industries. They deal in both organic and inorganic chemicals, and
therefore their horizon of trade in the market has widened. They are engaged in
the manufacture and supply of Fluoride, Fluoborate, Slico Fluoride, Cryolite,
Sulphate, Chloride, Phosphate, Carbonate, Acid, Borate, Chloride, Benzene and
many more. By pursuing and implementing the highest standards of excellence in
their operations, they have nurtured their capabilities.
The concern
established itself in the year 1986 as a mid size enterprise. Gradually,
banking on the industrial know how and commitment towards excellence, they
evolved as one of the leading suppliers of organic and inorganic chemicals
catering to a number of domestic and international clients. Through an
unwavering focus on Quality, Commitment and Delivery, they have charted their
way to success in their operations and have won the admiration of their
customers.
Innovation, Quality and Dedication
Their success in the industry is built on the strong pillars of
innovation, quality, and dedicated customer service. By incorporating these and
other business strengths, they have boosted their capabilities to maintain high
quality standards in the industry. By adapting advanced technologies, refining
processes and exploring wider applications, they aim to secure their position
in the present and believe in creating opportunities for future.
Excellence
By maintaining a speedy and flexible process of production, packaging and
delivery, they have been providing a stable and reliable supply base for all
out national and international clients. Their high quality and pure chemicals
cater to high growth industrial sectors such as Agriculture, Textiles,
pharmaceuticals and Packaging that are the prime drivers of growth in the
economy.
Market
Their range of organic and inorganic chemicals are available across the globe
and can be found in various industries as well. Chemicals are such product that
are widely used and in various forms and volumes. In some areas they are used
is bulk (especially in textile industry) but the concentration level is
generally low. Some of the industries they serve include- textile, agriculture,
rubber, glass, electronics and many more.
Why them
Through the course
of time, they have been able to understand and respond to the varied needs of
their clients. Their expertise comes from the long experience that they have in
the industry and the advanced technologies that they employ in their
facilities. Here are some of the immediate reasons that have made them a
trusted manufacturer and supplier of organic and inorganic chemicals.
They source only the finest raw materials for bulk drugs and organic chemicals
for use in their manufacturing operations. This is one of the main factors that
has assisted them win the confidence of their clients. Here are some of the
highlights of their performance through the course of time- Innovative and
focused approach have made them one of the forerunners in the market.
They have built up
their expertise responding to diverse customer requirements through the quality
of the products and strong distribution network.
Their products cater
to the key industrial sectors of Textiles, Pharmaceutical and Packaging,
therefore, their area of business is very wide
Efficient teamwork
and strong associations have guided them to success.
They have always
been maintaining competitive price range for all their products
Quality
Quality Assurance is
perhaps the most critical and demanding parameter in the chemical industry that
they have realized in these years. Their strict in-house quality monitoring
facilities makes it possible for them to achieve the most stringent and
exacting standards of quality. They have been producing the best quality
chemicals for their demanding customers. There is a full fledged, well equipped
laboratory close to their manufacturing unit in order to ensure quality consistency
of products.
Their R and D department is dedicated to ensure the quality of the chemicals
and develop better quality chemicals at the same time. There is an in house
testing facility available at the disposal of their quality managers. Apart from
their checking procedure, their products pass through Third Party quality check
to ensure the delivery of best quality chemicals. They make use of the finest
chemicals raw materials in all their manufacturing operations. Their quality
standards are ensured through a strict program of tests such as
· Purity Tests
· Assay Tests
· Moisture Content Tests, and
· Efficient teamwork and strong associations have guided them to success.
· Other Impurity tests.
Environmental
Concerns
This is one aspect
that is always been on the top of their priority list. All their processes
conform to the international standards as in accord to the environment laws.
Keeping this very important environment friendly attitude and human welfare
into consideration, they have their own process comprising of primary,
secondary and tertiary treatments. All liquid and solid wastes are disposed off
in an environmentally and legally acceptable manner.
Products:-
Active
Pharmaceuticals Ingredients
They offer
complete range of Active Pharmaceuticals Ingredients (APIs) used for making
drugs, pesticides etc.
They offer quality
acids that are used for numerous applications in diverse industries.
Their range of
Ascorbate are available in superior quality of vacuum sealed packaging.
They offer highly
efficient Borate Compounds in different combinations as per the requirement of
the client.
Widely used as a
preservative, their range of Benzoate compounds include Sodium Benzoate,
Potassium Benzoate and Copper Benzoate.
They offer best
quality of Bleaching Powder that are widely used for water treatment and as a
bleaching agent.
Frequently used as
a sedative, their range of Bromine Compounds include Barium Bromide, Ammonium
Bromide, Sodium Bromide, Magnesium Bromide and Potassium Bromide.
The ester salt of
carbonic acid, Carbonate compounds are used for different industrial as well as
laboratory applications.
Also known as
Slaked Lime, their range of Calcium Hydroxide is available as colourless
crystal or white powder.
They offer active
chloride compound that are used in diverse industrial and laboratory
applications.
Their range of Chromate
compounds are widely known for their strong oxidizing property.
They offer caustic
compounds in different specifications to meet the requirements of their
clients.
Their range of
Cryolite is widely used as a solvent for aluminum rich ore and bauxite.
E.D.T.A is a type
of amino acid widely used to sequester di- and trivalent metal ions.
They offer quality
ferro alloys that are widely for welding metals, while keeping in control toxic
fumes and hazardous gases.
They offer various
organic and inorganic compounds with a fixed ratio of fluorine. These compounds
are used for variety of application in different industries.
This product may
cause severe eye irritation and depending upon duration of exposure, some form
of permanent eye damage may occur
Fluorosilicate
Compounds are useful chemical compounds used in different industries for
cleansing flux for nonferrous metals like aluminum and magnesium.
Sodium
silicofluoride or sodium fluorosilicate is used in metallurgical applications,
water fluoridation, and other applications
One of the 20 proteinogenic
amino acids, Glutamate serves as a functional metabolic fuel in the body.
They offer quality
Gluconate manufactured by the fermentation of glucose.
They offer
Hydraoxide in variety of specifications to meet the requirement of the clients.
Their range of Iodine
compounds are widely used in pharmaceuticals, antiseptics, medicine, food
supplements, dyes, and more.
They offer
Molybdate compound that contains an oxoanion with molybdenum in its highest
oxidation state.
An electrostatic
potential map of the nitrate ion. Areas coloured red are lower in energy than
areas coloured yellow.
The salts of
nitrous acid, Nitrites find various application in different industries
including food, pharma and more.
An electrostatic potential
map of the nitrate ion. Areas coloured red are lower in energy than areas
coloured yellow.
They offer range
of nitrate compounds that are obtained by reduction of nitrates.
Their range of
Perborates serve as rich source of active oxygen in many detergents, laundry
detergents, cleaning products and bleaches.
Derived from
perchloric acid, Perchlorate find applications as an oxidizer in rocket fuel
and can be found in airbags, fireworks or Chilean fertilizers
They offer highly
effective Periodate that are derived from the periodic acid.
One of the most
useful acid, Stearic acid is type of saturated fatty acids that come from many
animal, vegetable fats and oils.
Silicate is a
compound containing an anion in which one or more central silicon atoms are
surrounded by electronegative ligands.
Their range of
Succinimide are used for variety of organic synthesis and for industrial silver
plating process.
Organic compounds
are basically class of chemical compounds whose molecules contain carbon.
They offer
complete range of shulphur compound in different forms and compositions as per
the requirement of the client.
The Permanganate contains ion (MnO4-) that makes it a strong oxidizer.
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.43.73 |
|
UK Pound |
1 |
Rs.80.57 |
|
Euro |
1 |
Rs.64.29 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
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 |
|