MIRA
INFORM REPORT
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Report Date : |
18.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
ANNAPOORNA INDUSTRIAL CORPORATION |
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Registered Office : |
Shambhu Dayal Bagh, Okhla Industrial Area, New Delhi – 110 020 |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
1950 |
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IEC No.: |
0503016187 |
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PAN No.: [Permanent
Account No.] |
AAAHA4584K |
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Legal Form : |
Partnership concern with an unlimited liability of the partners. |
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Line of Business : |
Manufacturer, Exporter and Supplier of Official Furniture and
Partitions. |
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 25000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company having satisfactory track. Trade
relations are fair. Financial position is satisfactory. Payments are usually
correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Akshat Goel |
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Designation : |
Partner |
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Date : |
15.12.2008 |
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Name : |
Mr. K R Raja |
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Date : |
15.12.2008 |
LOCATIONS
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Registered Office : |
Shambhu Dayal Bagh, Okhla Industrial Area, New Delhi – 110 020, India |
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Tel. No.: |
91-11-30943422 / 26931289 / 26845882 / 42648121 / 26831262 |
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Mobile No.: |
91-9899214441 / 9810293373 |
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Fax No.: |
91-11-26845882 / 26845884 |
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E-Mail : |
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Area : |
10000 Sq. ft. |
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Location : |
Rented |
PARTNERS
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Name : |
Mr. Akshat Goel |
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Designation : |
Partner |
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Date of Birth/Age : |
23 Years |
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Qualification : |
Graduate |
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Experience : |
3 Years |
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Name : |
Mrs. Poonam Goel |
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Designation : |
Partner |
KEY EXECUTIVES
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Name : |
Mr. Akshat Goel |
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Designation : |
Chief Executive Officer |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Exporter and Supplier of Official Furniture and
Partitions. |
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Products : |
·
Modular Furniture ·
Steel Furniture ·
Office Chairs ·
Carpets/ Flooring ·
Office Partitions ·
Office Work Stations ·
Storage Units ·
Designer Sofas ·
Slotted Angle Rack ·
Wooden Tables ·
School Furniture ·
Hospital Furniture |
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Imports : |
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Products : |
·
Modular Furniture ·
Steel Furniture ·
Office Chairs ·
Carpets/ Flooring ·
Office Partitions ·
Office Work Stations ·
Storage Units ·
Designer Sofas ·
Slotted Angle Rack ·
Wooden Tables ·
School Furniture ·
Hospital Furniture |
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Countries : |
Belgium |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS
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Capacity to increase production by : |
40% |
GENERAL
INFORMATION
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Suppliers : |
Own Manufacturing |
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Customers : |
·
United Nations Children’s Fund (UNICEF) ·
Ministry of Defense ·
Ministry of Railways ·
Ministry of History ·
Airport Authority of India ·
Bennett and Coleman of India Limited ·
All India Institute of Medical Science (AIIMS) ·
Escorts Heart Institute and Research Centre (EHIRC) ·
Apollo Hospitals ·
Institute of Chartered Financial Analysts of India (ICFAI) ·
Tata Teleservices ·
Samsung India Limited ·
Ranbaxy ·
Delhi Art Gallery ·
National Enterprises ·
Jamia Hamdard University ·
Jamia Millia Ismalia ·
HMR Institute of Management ·
Delhi Public School ·
South Delhi Public School |
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No. of Employees : |
60 |
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Bankers : |
Punjab National Bank, New Delhi |
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Banking
Relations : |
Satisfactory |
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Auditors : |
Not Available |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.5.000 millions |
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Borrowed : |
- |
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Total : |
Rs.5.000 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2008 |
31.03.2007 |
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Sales Turnover |
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40.000 |
35.000 |
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Profit/Loss for the year |
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12% |
12% |
Expected Sales (2008-09) : Rs.50.000 millions
LOCAL AGENCY
FURTHER INFORMATION
Trustseal Acceptance Chart
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Parameters |
Details |
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Existence Verification |
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Name |
ANNAPOORNA INDUSTRIAL CORPORATION |
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Address |
Shambhu Dayal Bagh, Okhla Industrial Area, New Delhi – 110 020, India |
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Phone/ Mobile Numbers |
91-11-30943422 / 26931289 / 26845882 / 42648121 / 26831262 |
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Fax Numbers |
91-11-26845882 / 26845884 |
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Statutory Approvals |
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Legal Status of Firm |
Partnership Company |
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Income Tax Registration |
AAAHA4584K |
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VAT/ TIN Registration |
07180174973 |
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Import Export Code |
0503016187 |
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Name of Bank |
Punjab National Bank, New Delhi |
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Emp PF Reg Number |
DL-1133 |
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Company ESI Reg. Number |
11-25424-57 |
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RBI Code Number |
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Credibility Factors |
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Years of Establishment |
1950 |
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Turn Over |
Rs.40.000 millions |
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Turn Over Year |
2008 |
Web Details
Profile
Incepted in the year 1950, Subject, an ISO 9001: 2000 certified company is a reputed and reliable name in
the furniture industry. They manufacture, export and supply a comprehensive
range of best quality furniture such as office chairs, office partitions, etc,
which successfully caters to the needs of corporate and government sector as
well as medical, educational, art and other institutions. The range of
furniture are durable, contemporary in design and competitively priced. They
also offer modular furniture.
The company is located in Delhi, the national capital of India as well as the
industrial hub. They are run and promoted under the dynamic leadership and
visionary guidance of the director Mr. Atul Goel, who has with him, 60 years of
rich experience in this field. With his continuous motivation and support
coupled with a dedicated team, they have established a strong foothold in
domestic as well as overseas market. Further, they have been accredited with
the prestigious certification of ISO
9001: 2000 as a recognition of the quality management system.
Today, they are into turnkey interiors and cater to the complex furnishing
needs of modern corporate offices. With the philosophy based on total customer
satisfaction, they have earned the faith and trust of the global clients and
achieved the annual turnover of 40 Millions (INR).
The research and development department is consistently engaged in carrying out
research to innovate new range as well as upgrade the quality of existing
products. Besides this, they also welcome the customized orders of the clients
and endeavor to deliver them in stipulated time frame in safe packaging.
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.47.33 |
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UK Pound |
1 |
Rs.73.93 |
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Euro |
1 |
Rs.66.69 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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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 |
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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46 |
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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