MIRA
INFORM REPORT
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Report Date : |
29.12.2008 |
IDENTIFICATION DETAILS
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Name : |
OMEGA TECHNIKS INDIA PRIVATE LIMITED |
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Registered Office : |
No. 157/158, Sidco Industrial Estate, Ambattur (NP), Chennai – 600
098, Tamilnadu |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
14.09.2005 |
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Com. Reg. No.: |
18-57497 |
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CIN No.: [Company
Identification No.] |
U27104TN2005PTC057497 |
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IEC No.: |
0407000259 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CHEO03699D |
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PAN No.: [Permanent
Account No.] |
AAACO7811Q |
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Legal Form : |
Private Limited Liability Company
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Line of Business : |
Manufacturer of Auto Components, Home Appliances etc. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 4000 |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
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Comments : |
Subject is a 3 years old company and commenced operations during
2006-07 on a modest stage. Trade relations are fair. Scale of activity is limited.
No complaints have been heard. The company can be considered for small to mediocre business
dealings. |
INFORMATION PARTED BY
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Name : |
Mr. R Satheesh |
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Designation : |
Director |
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Date : |
27.12.2008 |
LOCATIONS
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Registered Office/Factory : |
No. 157/158, Sidco Industrial Estate, Ambattur (NP), Chennai – 600
098, |
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Tel. No.: |
91-44-42055065 |
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Mobile No.: |
91-9840058989 / 9444185200 |
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Fax No.: |
91-44-42189414 |
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E-Mail : |
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Area : |
10000 Sq. ft. |
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Location : |
Rented |
DIRECTORS
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Name : |
Mr. L Murali |
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Designation : |
Director |
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Address : |
No.9, |
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Date of Birth/Age : |
40 Years |
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Qualification : |
MBA |
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Date of Appointment : |
14.09.2006 |
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Name : |
Mr. R Satheesh |
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Designation : |
Director |
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Address : |
No. 127, Ramaswamy Naidu, Lay Out, P N Palayam, |
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Date of Birth/Age : |
32 Years |
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Qualification : |
BE |
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Date of Appointment : |
14.09.2006 |
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Name : |
Mr. K Gopu |
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Designation : |
Director |
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Address : |
No. 50, |
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Date of Birth/Age : |
35 Years |
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Qualification : |
BME |
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Date of Appointment : |
14.09.2006 |
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Name : |
Mr. N Kumar |
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Designation : |
Director |
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Address : |
No. 24, South High Court Colony, I |
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Date of Birth/Age : |
46 Years |
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Qualification : |
MBA |
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Date of Appointment : |
14.09.2006 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(As on 28.09.2007)
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Names of Shareholders |
No. of Shares |
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L Murali |
20000 |
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R Satheesh |
10000 |
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K Gopu |
10000 |
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10000 |
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Total |
50000 |
Equity Share breakup (Percentage of Total Equity)
(As On 30.09.2007)
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Category |
Percentage |
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Directors or
relatives of directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Auto Components, Home Appliances etc. |
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Products : |
·
Sheet
Metal Automobile Parts ·
Sheet
Metal with Powder Coated ·
Sheet
Metal Fabrication with Powder Coated ·
Sheet
Metal Control Boxes Fabrication ·
Stainless Steel Sheet Metal Parts ·
Aluminium
Parts ·
Press Tool Design And Manufacturing ·
Automobile
Parts with Powder Coated |
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Terms : |
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Selling : |
Credit (30 days / 60 days / 90 days) – Depends |
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Purchasing : |
Credit (30 days / 60 days / 90 days) – Depends |
GENERAL INFORMATION
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Suppliers : |
·
Jamal Traders ·
Kowri Steels ·
Latha Engineering Works ·
MMMX Moulds ·
Perfect CNC Shearing ·
Phoenix Agencies ·
S K M Galva ·
Shree Lakshmi Shearing ·
Sri Ganapathy Industries ·
Technomax ·
Vijay Enterprises |
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Customers : |
·
Manufacturer ·
SandS Power Switchgear
Limited ·
Whirlpool of India
Limited ·
HCL Peripherals Limited
·
Philips Electronics
India Limited ·
Iris Manufacturing
Limited ·
Indian Furniture
Products Limited ·
Johnson Lifts Private
limited ·
Sri Balaji assemblies
and Plastics Private Limited ·
·
Trivitron Medical
Technologies ·
Danfoss Industries
Private Limited |
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No. of Employees : |
60 |
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Bankers : |
·
ICICI Bank, Anna Nagar ·
HDFC Bank, Anna Nagar |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
P Krishnan and Associates Chartered Accountant |
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Address : |
New No. 20, II Street, Raghavan Colony, Ashok Nagar, Chennai – 600
083, Tamilnadu, India |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type7 |
Value |
Amount |
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50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2007 |
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.500 |
0.500 |
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2] Share Application Money |
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0.240 |
0.000 |
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3] Reserves & Surplus |
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0.071 |
0.000 |
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4] (Accumulated Losses) |
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0.000 |
(0.183) |
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NETWORTH |
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0.811 |
0.317 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
0.000 |
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2] Unsecured Loans |
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2.235 |
0.937 |
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TOTAL BORROWING |
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2.235 |
0.937 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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3.046 |
1.254 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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2.319 |
1.466 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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0.000 |
0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.000
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0.000 |
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Sundry Debtors |
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1.384
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0.154 |
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Cash & Bank Balances |
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0.243 |
0.082 |
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Other Current Assets |
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0.000
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0.000 |
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Loans & Advances |
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0.105
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0.074 |
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Total
Current Assets |
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1.732
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0.310 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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0.990
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0.527 |
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Provisions |
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0.020
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0.000 |
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Total
Current Liabilities |
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1.010
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0.527 |
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Net Current Assets |
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0.722
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(0.217) |
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MISCELLANEOUS EXPENSES |
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0.005 |
0.005 |
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TOTAL |
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3.046 |
1.254 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2007 |
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Sales Turnover |
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5.197 |
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Other Income |
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0.041 |
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Total Income |
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5.238 |
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Profit/(Loss) Before Tax |
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0.274 |
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Provision for Taxation |
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0.203 |
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Profit/(Loss) After Tax |
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0.071 |
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Total Expenditure |
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4.964 |
KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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PAT / Total Income |
(%) |
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1.36 |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
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5.27 |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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6.76 |
NA |
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Return on Investment (ROI) (PBT/Networth) |
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0.34 |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
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4.00 |
4.62 |
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Current Ratio (Current Asset/Current Liability) |
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1.71 |
0.59 |
LOCAL AGENCY FURTHER INFORMATION
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Additional Requirement
of Indiamart for Trust-Seal |
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Service Tax No. : -- |
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Excise Registration No.: AAACO7811Q XM001 |
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VAT / TIN : 33311364129 |
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IEC Code : 0407000259 |
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PAN / TAN : AAACO7811Q |
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Bank Name : ICICI Bank |
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Bank Address : Anna Nagar |
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Bank A/c. No.: 039505001631 |
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Account Since : More than 2 years |
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In case of any affiliations / memberships / certifications : |
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Name : ISO – NAVCV Certificate No. RQ91/4212 |
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Type : 9001-2000 |
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Expiry Date : 27th April, 2009 |
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Trade References
·
Danfoss Industries Private Limited, Chennai
·
Indian Furniture Product Limited, Tiruvellu
·
Johnson Lifts India Limited, Tiruvellu
Performance During
the Year
The Directors have pleasure in presenting their report and the audited
accounts for the year ended 31st March, 2007. The company has been
still in the establishment stage. They have started the operations on a modest
scale.
Fixed Assets
·
Plant and Machinery
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Furniture and Fittings
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Computers
·
Vehicles
Web Details
Profile
Established in the year 2005, They are a well reckoned
name engaged in manufacturing, exporting and supplying a precision engineered
range of sheet metal press parts and sub assemblies, fabrication and powder
coating. In the era of customer delight, to perform more than the customer
expectation, we pay paramount attention towards improvement in the quality
system and aim at gaining TS 16949
certification.
Furthermore, under the guidance of the mentors Mr. Murali, they make constant
efforts to establish the company as a value adding, strategic and a life time
supplier. They have been using sophisticated machines that help us in offering
a wide range of sheet metal parts that are known for their durability and
strength. The in-house testing lab is equipped with latest testing equipment
where every component and metal part is thoroughly monitored before shipment.
Quality being the forte, we have created a separate quality assurance
department that takes care of various quality aspects of the engineering goods.
The adherence to offer qualitative range of engineering supplies has made us
the first choice among our clients. They are known as one of the reputed
organizations which follow ethical business policies in dealing with various
clients.
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] 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
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Indian Rupees |
|
US Dollar |
1 |
Rs.47.89 |
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1 |
Rs.70.84 |
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Euro |
1 |
Rs.67.37 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
3 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
4 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
3 |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
4 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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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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32 |
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 |
|
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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