MIRA
INFORM REPORT
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Report Date : |
11.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
GLOBAL CORPORATION |
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Registered Office : |
A/9, Shukla Estate, Opposite Veena Dalvai Industrial Estate, Off S. V.
Road, Oshiwara, Jogeshwari [West], Mumbai 400102, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1995 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer and Exporter of Scientific, Laboratory and Pharmaceutical
Equipments, IS Test, Measuring Instruments, Industrial Equipments, Healthcare
Equipments, Hospital Equipments – All with ASTM, IS, BIF, JSS standards |
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 4800 |
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Status : |
Small Concern |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject seems to be a relatively small concern in its field. The management
was found non co-operative and declined to part with any informations. This
report is based on indirect sources of information. Payments are reported as
slow but correct. The concern can be considered for small to mediocre business dealings
with slight caution initially. |
INFORMATION PARTED
BY
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Name : |
Mr. J. K. Pathak |
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Designation : |
Proprietor |
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Contact No.: |
91-9869008159 |
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Date : |
06.02.2008 |
LOCATIONS
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Registered Office : |
A/9, Shukla Estate, Opposite Veena Dalvai Industrial Estate, Off S. V.
Road, Oshiwara, Jogeshwari [West], Mumbai 400102, Maharashtra, India |
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Tel. No.: |
91-22-28993211 / 26784399 / 66959625 |
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Mobile No.: |
91-9869008159 |
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Fax No.: |
91-22-66959625 |
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Website : |
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Area : |
350 Sq. fts. |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. J. K. Pathak |
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Designation : |
Proprietor |
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Date of Birth/Age : |
52 years |
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Qualification : |
Graduate with Management from JBIMS |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Scientific, Laboratory and Pharmaceutical
Equipments, IS Test, Measuring Instruments, Industrial Equipments, Healthcare
Equipments, Hospital Equipments – All with ASTM, IS, BIF, JSS standards |
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Products : |
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Exports : |
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Products : |
All Products |
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Countries : |
Ø Korea Ø South Africa Ø Sri Lanka Ø Arabian
Countries |
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Terms : |
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Selling : |
L/C, Cash, Advance or on Delivery |
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Purchasing : |
Cash and Credit [60 days to 90 days] |
GENERAL
INFORMATION
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Customers : |
Ø Pharma Companies
Ø Government
Laboratories Ø RTC, NTH, EIH,
Petroleum Companies |
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No. of Employees : |
5 |
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Bankers : |
Vijaya Bank , SSI Branch |
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Banking
Relations : |
---- |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 1.200 Millions |
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Borrowed : |
-- |
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Total : |
Rs. 1.200 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2007 |
31.03.2006 |
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Sales Turnover |
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2.500 |
2.200 |
Expected Sales (2007-08): Around Rs. 2.600 Millions
LOCAL AGENCY
FURTHER INFORMATION
TRADE REFERENCES:
Ø CIPLA
Ø Glenmark Pharmaceuticals
Ø IPCL
AS PER WEBSITE DETAILS:
PROFILE
Setting international standards regarding as per the quality
and innovation parameters, subject introduces itself as a leading manufacturer
and exporter of a large number of products catering to high precision
equipment, Scientific Laboratory Equipments & Institutional Health Care
Products. They have an innate capacity to understand their client's needs and
manufacture products accordingly. Their products have been able to meet the
varied requirements of their clients and thus have been preferred by all.
About Them
Over the years, they have been able to cater to their
clients needs in a very streamlined and organized manner. This has been
possible owing to the fact that they have been involved in intense research and
development. They put in their best efforts in whatever they do and thus have
excelled in all the aspects that are required for an organization to grow. They
have always targeted on effective delivery of the orders placed by their
customers and this along with other factors has enabled them to carve a niche
for theirselves in the market.
What They Offer?
They are into manufacturing and export of large varieties of
products that cater to different sectors. Their products exhibit international
quality standards and are a result of hard precision. The products offered by
them are mentioned below-
·
Scientific
laboratory instruments & equipments
·
IS-Test
measuring instruments
·
Hospital
Items
·
Health
Care
Quality
They want their customers to get the best in terms of quality and thus put in
their best efforts to maintain superior quality standards. They follow
stringent quality control measures at every step of production, right from the
selection of raw materials to final dispatch. They follow such strict quality
measures to ensure that they are able to reduce, eliminate and prevent
deficiencies in their products. Their quality norms have been the prime reason
for their success.
Infrastructure
They possess a state-of-the-art infrastructure that has all
the latest and advanced machineries that enable them to meet all the
manufacturing challenges. They are always ready to install new machineries so
as to facilitate their production procedures. Their sound infrastructure
enables them to repair, replace, and upgrade their products. They have a team
of engineers who are always prepared to rectify any sort of problems in the
machineries thus ensuring better efficiency.
Team
They are a committed team of dedicate professionals who strive to maintain superior
quality standards and deliver the best to their clients. Their team works in
close coordination with each other thus resulting in better productivity. They
have managers who are the one to inculcate the right attitude towards work
amongst the workers and look after the problems faced by them. Their success as
an organization majorly lies in their human resources and thus they cherish it
the most and wish to maintain the standard.
Customer Satisfaction
As a company they have always been able to satisfy their
customers and they aim to maintain this level of customer satisfaction. They
have been able to satisfy their customers by way of their commitment towards,
technology, innovation, excellent service and quality. They are looking forward
to fulfilling the requirements of their customers placed worldwide. They
channelize their activities as per the requirements, schedule and budget of
their customers thus assuring more customer satisfaction. This sort of a
commitment has enabled them to successfully export their products all over
Asia.
Why Them?
Certain factors have enabled them to become leaders in the
market and have been able to leave competition much behind them. The different
parameters on which one can judge their success are mentioned below-
Ø
A
highly qualified team of chemical engineers and experts rendering committed
services
Ø
High
level of industry expertise
Ø
Strong
logistics to ensure timely delivery schedules
Ø
Wide
market distribution
Ø
Quality
in conformation with the international standards
Ø
A
highly qualified team of chemical engineers and experts rendering committed
services
Ø
Large
stock to meet immediate bulk demands
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In-house
testing facility to ensure their products conform to international standards
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. 39.55 |
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UK Pound |
1 |
Rs. 76.85 |
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Euro |
1 |
Rs. 57.27 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
4 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
2 |
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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 |
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 |
YES |
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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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30 |
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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