MIRA
INFORM REPORT
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Report Date : |
02.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
AMBIKA REFRIGERATION INDUSTRIES |
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Registered Office : |
C/601, Royal Garden, Carter Road No.2, Borivali (East), Mumbai –
400066, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2008 (Estimated) |
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Year of Establishment : |
1990 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturers and Exporter of Refrigeration Comparssor Parts |
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 7500 |
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Status : |
Small Concern |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively small concern. Scale of activity is limited.
Payments are reported as usually correct and as per commitments. The concern can be considered good for small to mediocre business
dealings. |
INFORMATION PARTED
BY
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Name : |
Mr. Vijay K. Dulla |
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Designation : |
Proprietor |
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Date : |
25.06.2008 |
LOCATIONS
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Registered Office/ Factory : |
C/601, Royal Garden, Carter Road No.2, Borivali (East), Mumbai –
400066, Maharashtra, India |
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Tel. No.: |
91-22-28623141 |
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Fax No.: |
91-22-23476582 |
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Mobile No.: |
91-9320422113 - (Mr. Vijay K. Dulla) |
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E-Mail : |
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Website : |
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Area : |
300 sq. ft. |
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Location : |
Rented |
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Factory : |
187/191, Gosia Manzil, Zakaria
Masjid Street, Opposite Hashemiah High School, Mumbai – 400009,
Maharashtra India |
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Tel No.: |
91-22-28623141 |
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Fax No.: |
91-22-23476582 |
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Mobile No.: |
91-9320422113 - (Mr. Vijay K. Dulla) 91-9322530052 - (Mr. Ashwin Shah) 91-9820046421 - (Mr. Atul Shah) |
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Email : |
SOLE PROPRIETOR
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Name : |
Mr. Vijay K. Dulla |
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Designation : |
Proprietor |
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Date of Birth/Age : |
38 years |
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Qualification : |
Graduate |
BUSINESS DETAILS
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Line of Business : |
Manufacturers and Exporter of Refrigeration Comparssor Parts |
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Exports : |
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Products : |
Refrigeration Comparssor |
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Countries : |
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GENERAL
INFORMATION
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No. of Employees : |
9 |
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Bankers : |
Union Bank of India, Malad |
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Banking
Relations : |
- |
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Auditors : |
Not Available |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.1.500 millions (Estimated) |
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Borrowed : |
- |
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Total : |
Rs.1.500 millions (Estimated) |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2008
(Estimated) |
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Sales Turnover |
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4.500 |
Expected Sales (2008-09) : Rs.7.500 Millions
LOCAL AGENCY
FURTHER INFORMATION
Website Details
Profile:
For more than 18 years, subject has
been manufacturing
a full range of OEM quality replacement parts for all types of Refrigeration
and Air Compressor.
They are been keeping Inventory for spare parts to the tune of Approx.
Rs.50.000 Millions for different Models of Compressors. The management staff
and employees have one common objective and strict policy: They want ARI to
provide with a product that meets the needs and exceeds the expectations.
Further they
assure that after buying Spares from will have no maintenance of Compressor.
Since their goods are Genuine and backed by guarantee they assure smooth
functioning
Their Goal is that they grow together. They are reputed in
supplying Genuine Spares for more than a decade to Top Multinational Companies
through out India.
Successful Industrial Chilling Plants Air Conditioning and
Open Type Refrigeration Application Compressor Spares Is their Specialty. ARI
also supplies virtually any HVAC part. They keep a large variety of STOCK and SPECIALISE in CARRIER, SABROE, STAL, DAIKIN, GRASSO and BOCK compressors parts in stock.
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 |
|
US Dollar |
1 |
Rs.43.34 |
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UK Pound |
1 |
Rs.86.53 |
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Euro |
1 |
Rs.68.54 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
4 |
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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 |
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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34 |
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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