MIRA
INFORM REPORT
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Report Date : |
11.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
NIKO STEEL CENTRE |
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Registered Office : |
24/26, Sindhi Lane, Near N. D. Road, Mumbai 400004, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1981 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Trader of Stainless Steel Industrial Raw Materials |
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 16000 |
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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 and reputed concern. Proprietor is
reported as experienced and respectable businessman. Trade relations are fair. Business is active. Payments are reported as usually correct
and as per commitments. The concern can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office/Godown : |
24/26, Sindhi Lane, Near N. D. Road, Mumbai 400004, Maharashtra, India
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Tel. No.: |
91-22-66362225 / 23867225 / 67436631/2 |
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Mobile No.: |
91-9820690190 |
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Fax No.: |
91-22-23800765 |
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E-Mail : |
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Website : |
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Area : |
450 Sq. fts. |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Poonamchand Shah |
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Designation : |
Proprietor |
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Date of Birth/Age : |
54 Years |
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Qualification : |
HSC |
KEY EXECUTIVES
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Name : |
Mr. Shrenik Shah |
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Designation : |
Chief Executive Officer |
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Mobile No. : |
91-9820690190 |
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Date of Birth/Age : |
23 Years |
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Qualification : |
Graduate |
BUSINESS DETAILS
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Line of Business : |
Trader of Stainless Steel Industrial Raw Materials |
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Products : |
Ø Pipes and Tubes Ø Sheets/Plates/Coils Ø Flanges Ø Round Bar Ø Non Ferrous
Metals Ø Wire and Wire
Rods Ø Fittings |
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Terms : |
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Selling : |
Cash and Credit [30 days to 45 days] |
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Purchasing : |
Cash and Credit [30 days to 60 days] |
GENERAL
INFORMATION
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Customers : |
Ø End Users Ø Manufacturers |
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No. of Employees : |
6 |
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Bankers : |
Bank of Baroda Gulalwadi Branch, Mumbai |
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Facilities : |
C/C Rs. 0.100 Million |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Surana and Company Chartered Accountants |
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Address : |
Gulalwadi, Mumbai |
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Associates/Subsidiaries : |
Ø Neelkamal Steels
Address : 24/26, Sindhi Lane, Near N. D. Road, Mumbai 400004,
Maharashtra, India Line of Business : Trader of Stainless Steel Industrial Raw Materials |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 4.000 Millions |
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Borrowed : |
-- |
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Total : |
Rs. 4.000 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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12.500 |
10.000 |
Expected Sales (2007-08): Around Rs. 20.000 Millions
LOCAL AGENCY
FURTHER INFORMATION
AS PER WEBSITE
DETAILS:
PROFILE
Subject takes immense
pleasure in introducing itself as one of the leading names in the Engineering Industry
having Integrated Steel Complex with modern integration to produce Pipe
Fittings & Wire & Wire Rods. The organization has pioneered its
operations in 2006 to produce Pipe Fittings & Wire & Wire Rods, they
have experience in this field for past 25 years. They are the
importers, exporters, stockiest & suppliers of Stainless Steel and Carbon
Steel sheets, plates, flanges, flats, rods, round bar, pipes, tubes, welding
electrodes, fittings etc.
Over a decade of progress have consistently
made them realize that more than products, it is understanding the client's
requirement and giving maximum services to the customer is what makes them
stand apart from others. They have a self contained unit with forming, Forging,
Welding, Machining, Heat treatment, and Facilities for physical & Chemical
testing, this enables them to meet strict requirements of manufacturing and
testing codes.
Each of their
department right from procurement, production, inventory, market, sales and
services are fully automated for a better supply chain management, so as to
offer the best product quality and prompt service to their clients. Along with
technological equipment, manpower is also given special attention. All their
professionals are highly dedicated and committed to their client's
requirements. Their team of workers starves to provide quality service to you
according to the specification.
Quality Assurance Plan
Strict quality assurance system is being followed
in all their departments and Total Quality Management is applied to streamline
and all the procedures and practices in operation to achieve high standard of
efficiency. Contionious efforts are being made for improvement of materials
technology and equipments to give best quality products at the most affordable
prices. The materials supplied by them are as per the norms tested by Government recognized laboratories.&
with IBR Test Certificate under Third Party Inspection Like EIL, TCE, MECON,
PDIL, BACOUNCIL, BV, FEDO, UDHE, IBR, DNV, H & G, M.N.DASTUR & CO., DPG,
BUREAU VERTIAS, ICB, IRS AND TPL ETC.
Over the years they have supplied &
export to many Industries in Prestigious Projects, Maintenance & In
Shutdown in Industries like:
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Chemical
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Shipbuilding
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Petrochemical
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Steel Plant
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Refineries
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Offshore
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Fertilizers
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Defence
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Power Plant
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Ports
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Oil & Gas
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Railway
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Paper
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Mining
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Breweries
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Cement
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Oil Mills
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Sugar
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Nuclear Power
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Engineering Co.
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Construction
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Government Org.
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. 39.29 |
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UK Pound |
1 |
Rs. 76.92 |
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Euro |
1 |
Rs. 57.71 |
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 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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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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