1. Summary Information
|
Company Name |
Mirande Industries |
Principal Name 1 |
Mr. Shailesh Gutka |
|
Status |
New Concern |
Principal Name 2 |
Mr. Dilip Gutka |
|
Street Address |
Survey No. 231/232, Bhadane Gao, Padhaga,
Bhiwandi Taluka, Thane, |
||
|
Established Year |
2007 |
SIC Code |
-- |
|
Telephone# |
91-253-3247862 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-253-3247862 |
Business Style 2 |
- |
|
Homepage |
- |
Product Name 1 |
Polyster Monoyarn |
|
# of employees |
22 |
Product Name 2 |
-- |
|
Paid up capital |
-- |
Product Name 3 |
|
|
Shareholders |
-- |
Banking |
Prasik Janta Sahakari
Bank, Thane, |
|
Public Limited Corp. |
-- |
Business Period |
1 Year |
|
IPO |
-- |
International Ins. |
- |
|
Public |
-- |
Rating |
Ca |
|
Related
Company |
|||
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Relation:
Associate |
Country |
Company
Name |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2008 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
-- |
Current Liabilities |
-- |
|
Inventories |
-- |
Long-term Liabilities |
-- |
|
Fixed Assets |
-- |
Other Liabilities |
-- |
|
Deferred Assets |
-- |
Total Liabilities |
-- |
|
Invest& other Assets |
-- |
Retained Earnings |
-- |
|
|
-- |
Net Worth |
-- |
|
Total Assets |
|
Total Liab. & Equity |
-- |
|
Total Assets (Previous Year) |
|
|
|
|
P/L Statement as of |
31.03.2008 |
(Unit: Indian Rs.) |
|
|
Sales(Estimated) |
10000000 |
Net Profit |
-- |
|
Sales(Previous yr) |
-- |
Net Profit(Prev.yr) |
-- |
MIRA
INFORM REPORT
|
Report Date : |
22.12.2008 |
IDENTIFICATION DETAILS
|
Name : |
MIRANDE INDUSTRIES |
|
|
|
|
Registered Office : |
Survey No. 231/232, Bhadane Gao, Padhaga, Bhiwandi Taluka, Thane, |
|
|
|
|
Country : |
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|
|
|
Financials (as on) : |
31.03.2008 |
|
|
|
|
Year of Eatablishment : |
2007 |
|
|
|
|
Legal Form : |
Partnership Concern With an Unlimited Liability of the Partner |
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|
|
|
Line of Business : |
Manufacturer of Polyster Monoyarn. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
New Concern |
|
|
|
|
Payment Behaviour : |
Slow and Delayed |
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|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is a new concern. It has yet to establish track. It’s payment
are reported as slow and delayed. The concern can be considered for any business dealings on safe and
secured trade terms and conditions |
INFORMATION PARTED BY
|
Name : |
Mr. Sailesh Gutka |
|
Designation : |
Partner |
|
Contact No.: |
91-9323650409 |
|
Date : |
22.12.2008 |
LOCATIONS
|
|
|
|
Factory : |
Survey No. 231/232, Bhadane Gao, Padhaga, Bhiwandi Taluka, Thane, |
|
Tel. No.: |
91-253-3247862 |
|
Fax No.: |
91-253-3247862 |
|
E-Mail : |
|
|
Area : |
4000 Sq. Ft. |
|
Location : |
Owned |
PARTNERS
|
Name : |
Mr. Shailesh Gutka |
|
Designation : |
Partner |
|
Date of Birth/Age : |
42 years |
|
Qualification : |
Bcom. |
|
|
|
|
Name : |
Mrs. Gutka |
|
Designation : |
Partner |
|
Date of Birth/Age : |
38 Years |
|
Qualification : |
B.A. |
|
|
|
|
Name : |
Mr. Dilip Gutka |
|
Designation : |
Partner |
|
Date of Birth/Age : |
44 Years |
|
Qualification : |
M.S. |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Polyster Monoyarn |
|
|
|
|
Imports : |
|
|
Products : |
Yarn |
|
Countries : |
|
|
|
|
|
Terms : |
|
|
Selling : |
Credit (30 days) |
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|
|
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Purchasing : |
L/C |
GENERAL INFORMATION
|
Customers : |
Retailers, Manufacturer |
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|
|
|
No. of Employees : |
22 (in office 2, in factory 20) |
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|
|
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Bankers : |
Parsik Janta Sahari Bank Limited Thane, |
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|
|
|
Facilities : |
The concern reported to enjoy Overdraft of Rs.10 millions from its
bankers. |
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|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Mrs. Neeta Gutka Chartered Accountant, |
|
Address : |
Thane |
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|
|
|
Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Rs.3.000 Millions (Estimated) |
|
Borrowed : |
- |
|
Total : |
Rs.3.000 Millions (Estimated) |
FINANCIAL DATA
[all figures are
in Rupees Millions]
|
Particulars |
31.03.2008 |
|
Sales Turnover |
Rs.10.000 (Estimated) |
LOCAL AGENCY FURTHER INFORMATION
Nil.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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.47.03 |
|
|
1 |
Rs.71.17 |
|
Euro |
1 |
Rs.66.98 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
2 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--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 |
|
19 |
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 |
|