MIRA
INFORM REPORT
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Report Date : |
11.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
INDIA MACHINE TOOLS |
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Registered Office : |
Punit Nagar Road, B/H Rajkamal Petrol Pump, Gondal Road, Rajkot -360 004,
Gujarat |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
1988 |
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PAN No.: [Permanent
Account No.] |
AAAFI7155A |
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Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners. |
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Line of Business : |
Manufacturers and Exporters of Machine and Cutting Tools |
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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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 meetings its
normal commitments timeously. Trade relations are fair. Business is active. The concern can be considered good for normal business dealings. |
INFORMATION PARTED
BY
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Name : |
Mr. Sanjay Kumar Sapariya |
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Designation : |
Partner |
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Contact No.: |
91-9824425565 |
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Date : |
03.07.2008 |
LOCATIONS
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Registered Office/ Factory : |
Punit Nagar Road, B/H Rajkamal Petrol Pump, Gondal Road, Rajkot -360
004, Gujarat, India |
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Tel. No.: |
91-281-2367325 |
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Mobile No.: |
91-9824425565 |
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Fax No.: |
91-281-2370261 |
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E-Mail : |
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Area : |
670 Sq.Mtrs |
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Location : |
Owned |
PARTNERS
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Name : |
Mr. Sanjay Kumar Sapariya |
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Designation : |
Partner |
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Date of Birth/Age : |
38 years |
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Qualification : |
B. Com |
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Name : |
Mrs. Kinal Sapariya |
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Designation : |
Partner |
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Date of Birth/Age : |
27 years |
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Qualification : |
HSC |
BUSINESS DETAILS
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Line of Business : |
Manufacturers and Exporters of Machine and Cutting Tools |
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Products : |
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Exports : |
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Countries : |
Srilanka, Nepal, South Africa, Bangladesh |
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Terms : |
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Selling : |
Cash, Credit (30-60 days) |
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Purchasing : |
Cash, Credit (30-60 days) |
GENERAL
INFORMATION
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Customers : |
Retailers, End Users |
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No. of Employees : |
7 |
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Bankers : |
HDFC Bank, Gymkhana Branch, Rajkot - 360 004, Gujarat, India |
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Banking
Relations : |
Satisfactory |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
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Capital Investment : |
Not Available |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2008 |
31.03.2007 |
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Sales Turnover (approximately) |
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10.000 |
9.000 |
LOCAL AGENCY
FURTHER INFORMATION
TRUSTSEAL ACCEPTANCE CHART :-
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Parameters |
Detail |
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Statutory Approvals |
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Income Tax Registration |
AAAFI7155A |
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Central Sales Tax Registration |
24590700384 C |
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State Sales Tax registration |
24090700384 |
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VAT / TIN Registration |
24090700384 V |
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Name of Bank |
HDFC Bank |
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Current account Number |
DENIED |
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Account Since |
6 years |
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Creditability Factors |
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India Mart Client Since |
1 year |
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Trade Affiliations |
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SSI Registration |
Yes |
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Export Promotion Council |
No |
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Chamber of Commerce Membership |
No |
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Standards and Certifications |
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Quality Management Systems |
Yes |
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Environment Management Systems |
No |
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Safety Certificates |
No |
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Product Certificates |
No |
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Other Certificates |
ISO : 9001 : 2000 |
TRADE REFERENCES:-
· Mira Castings, Rajkot -360 004, Gujarat, India
· Shreenathji Tools
· Saurashtra Brass Works, Rajkot -360 004, Gujarat, India
WEBSITE DETAILS :-
The concern is manufacturers, exporters and suppliers of machine and cutting tools in India. Based in Rajkot, their firm is successfully catering to the machinery needs of varied engineering industries.
They are specializing in the manufacture of comprehensive range of machinery
that have high functional efficiency and are known for speedy operations. The
range includes light duty and heavy duty lathe machine, slotting machine,
universal milling machine and high precision surface grinder.
From the time of inception, their top management envisioned to gain a
leadership position in the industry through continuous upgradation and
innovation. They use the best mix of industry acumen, their expertise in
manufacturing and R and D knowledge to bring in cutting edge machine and
cutting tools. 
Range
They are one of the reputed manufacturers and suppliers who understand the changing customer requirements and industrial demands and hence offer machine that match with the exact requirements of the clients. Offering a complete engineering fabrication solutions to their clients, their range is comprised of superior quality machine and tools that have high operational efficiency and are extensively used in engineering industries. Their precision-engineered range includes :
· Light Duty Lathe Machine
· Heavy Duty Lathe Machine
· Slotting Machine
· Universal Milling Machine
· High Precision Surface Grinder
· Extra Heavy Duty Lathe Machine
· Medium Duty Lathe Machine
· SPM Lathe Machine
· Hydralic Surface Grinder
Quality Assurance
The reputation of their organization stands firmly on the pillars of Quality. They rigorously follow quality assurance policy that enables they to offer machine and tools that are technically sound and have longer and quality functional life. From the initial stage of raw material procurement to the final stage of packaging, quality is the factor that is always emphasized and immense care is taken by their quality experts who have a passion to achieve engineering perfection in each of their machines.
Infrastructure
With the backing of state-of-the-art facility they are able to create well-engineered machine and cutting tools that satisfactorily meet the demands of the engineering industry. Their manufacturing unit is well-equipped with all novel machinery and equipment that have become indispensable to produce tools that conform to the international standards.
Further, they have distinct and devoted R and D department that constantly works to develop innovative techniques and methodologies that help they to manufacture machine and tools that are technically advanced and have higher functional efficiency.
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.43.16 |
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UK Pound |
1 |
Rs.85.51 |
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Euro |
1 |
Rs.67.95 |
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 |
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 |
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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45 |
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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