MIRA
INFORM REPORT
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Report Date : |
05.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
ZENITH GLASSWARE AND INSTRUMENTS CORPORATION |
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Registered Office : |
38/5, Bagbazar Street, Kolkata
– 700 003, West Bengal |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
2003 |
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Legal Form : |
Sole Proprietory concern |
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Line of Business : |
Manufacturer and Exporter of Laboratories Glassware. |
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 2000 |
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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 well established concern having steady business. Trade
relations are fair. Payments are usually correct and as per commitment. The concern can be considered normal for business dealings at usual
trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. R. Somjhi |
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Designation : |
Manager |
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Date : |
02.12.2008 |
LOCATIONS
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Registered Office : |
38/5, Bagbazar Street, Kolkata
- 700 003, West Bengal, India |
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Tel. No.: |
91-33-25337756 |
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Mobile No.: |
91-9331028351 / 9836407853 |
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Fax No.: |
91-33-25300533 |
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E-Mail : |
zenitnglass@hotmail.com |
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Area : |
800 Sq.ft. |
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Location : |
Owned |
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Factory 1 : |
14/3, Kaliprasad Chawkrobotty Street, Kolkata – 700 003, West Bengal. |
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Area : |
800 Sq.ft. |
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Location : |
Rented |
PROPRIETOR
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Name : |
Mrs.Chaitali Bose |
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Designation : |
Proprietor |
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Date of Birth/Age : |
36 Years |
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Qualification : |
B.Com |
KEY EXECUTIVES
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Name : |
Mr. R. Somjhi |
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Designation : |
Manager |
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Name : |
Mr.Ghosh |
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Designation : |
Office Assistant |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Laboratories Glassware |
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Products : |
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Exports : |
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Products : |
Laboratory Glassware |
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Countries : |
U.S.A. |
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Terms : |
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Selling : |
On Cash and Credit 30 days basis |
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Purchasing : |
On Cash and Credit 30 days basis |
GENERAL
INFORMATION
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Customers : |
End Users |
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No. of Employees : |
Around 20 |
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Bankers : |
State Bank of India, Shyam Bazar Branch. |
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Facilities : |
-- |
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Banking Relations
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Satisfactory |
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Associates/Subsidiaries : |
NIL |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.0.400 million (estimated) |
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Borrowed : |
-- |
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Total : |
Rs.0.400 million (estimated) |
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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4.000 millions |
Expected Sales (2008-09) : Rs.5.000 Millions
LOCAL AGENCY
FURTHER INFORMATION
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Additional
Requirement of Indiamart for Trust-Seal |
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VAT / TIN : 19300919060 |
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IEC Code : 0204003733 issued 18/05/04
(Claimed by the management but can’t he verified online) |
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PAN / TAN : AHOPB0927A |
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Bank Name : State Bank of India |
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Bank Address : Shyam Bazar Branch |
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Bank A/c. No.: 11062971887 |
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Account Since : 1 Years |
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Website Details Attached:
PROFILE :
Established in the year 2000,
subject is one of the leading manufacturers, exporters and suppliers of
a huge range of laboratory instruments that are fabricated from high grade raw materials
and are available in different sizes as per the client’s requirements.
Qualified technicians and engineers having many years of experience do
well in manufacturing concern range as per the demand of the market. They keep
on using new technology, as well as adding value to the existing one through
concern in house research and development laboratory. It is all due to this
that they have a long list of clients from all over the world.
It is all because of the guidance and supervision of concern experienced
and skilled mentor, Mr. Niren Bose
that they have climbed up the ladders of success in the industry. Owing to his
suggestions they are known as one of the top class organization in the market.
PRODUCT PORTFOLIO :
They offer concern clients a comprehensive range of equipment that are
fabricated from qualitative raw material as per the clients demand. Their wide
range includes Laboratory Beakers, Buchner Funnel, Flask Conical Narrow Mouth, ground joints, Spherical joints,
Membrane Filter Apparatus, measuring cylinders, Separating Funnel, Sintered Crucible, Sintered Disc,
Spherical Joints, Stop Cork and
Viscometers. These ranges are highly durable and are used by many
industries.
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.49.79 |
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UK Pound |
1 |
Rs.73.37 |
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Euro |
1 |
Rs.63.08 |
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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