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MIRA INFORM REPORT
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Report Date : |
16.07.2008 |
IDENTIFICATION DETAILS
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Name : |
RADHIKA
INDUSTRIES (DIAMOND) |
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Registered Office : |
166,
Janpriya Enclave, Pocket 11, Sector 21, Rohini, New Delhi 110 085 |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
2001 |
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Legal Form : |
Sole
Proprietory Concern |
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Line of Business : |
Manufacturer and Exporter of Wire Rope, Diamond Wire, Wire Saw Accessories, Wire Saw Machine, Rubber Coated and Plastic Coated Diamond Wire and other Mining Equipments |
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
15000 |
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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 company having satisfactory track. Trade relations
are fair. Payments are usually correct and as per commitments. The
concern can be considered normal for business dealings at usual trade terms
and conditions. |
INFORMATION PARTED BY
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Name
: |
Mr.
Laxman Singh |
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Designation
: |
Chairman
Executive Officer |
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Date
: |
16.07.2008 |
LOCATIONS
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Registered Office : |
166,
Janpriya Enclave, Pocket 11, Sector 21, Rohini, New Delhi 110 085, India |
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Tel. No.: |
91 11 65158610 |
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Mobile No.: |
91-9212327051 (Mr. Laxman Singh) |
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Fax No.: |
91 11 2753 7899/ 25181453 |
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E-Mail : |
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Website : |
http://www.radhikaindustries.com |
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Location : |
Owned (Commercial) |
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Factory : |
B-2330,
DSIDC Industrial Area, Narela, New Delhi 110 040, India |
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Tel.
No.: |
91 11
2778 1185 |
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Area : |
400
Sq. Meters approx |
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Location : |
Owned
(Industrial) |
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Factory 2 : |
Under
Construction |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mrs
Ruchi Aggarwal |
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Designation : |
Proprietor
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Date of Birth/Age : |
36
Years |
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Mobile No.: |
91-9213117399/
9212327050/ 9212327051 |
KEY EXECUTIVES
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Name
: |
Mr.
Laxman Singh |
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Designation
: |
Key
Executive |
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Name
: |
Mr.
Bhimsingh Rathod |
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Designation
: |
Sales
Officer |
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Mobile
No.: |
91-9212327050 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Wire Rope,
Diamond Wire, Wire Saw Accessories, Wire Saw Machine, Rubber Coated and
Plastic Coated Diamond Wire and other Mining Equipments |
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Products : |
v Wire Rope v Diamond Wire v Wire Saw Accessories v Wire Saw Machine v Pneumatic Water Bag and Pump v Cramping Machine v Battery Hydraulic Press v Mining Equipments v Crimps Accessories v Shears for cable Tools v Hand Press for Joints v Battery Hydraulic Press v Joints Accessories v Perforating Crown Tools v Accessories for Diamond Wire
Saw v Springs Accessories v Hydraulic desk for assembly
wire Tools v Spacers Accessories v Perforating pipe Tools |
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Exports to : |
Middle East and Europe, Saudi Arabia, Italy. |
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Terms : |
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Selling : |
Cash |
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Purchasing : |
Cash |
GENERAL INFORMATION
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Customers : |
v
Geetanjali Marble Private Limited, Katni –
483501,Madhya Pradesh, India v
R K Marble Limited, Udaipur - 313001, Rajasthan,
India v
Svil Mines Limited, Katni-483501, Madhya Pradesh,
India v
S K Marble, Katni - 483501, Madhya Pradesh, India v
Wholesalers |
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No. of Employees : |
30 |
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Bankers : |
v
ICICI
Bank Limited v IDBI Bank, Premit Puri Branch |
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Facilities : |
Rs. 2.000 Millions (IDBI Bank) |
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Banking Relations : |
Satisfactory
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Membership : |
ISO
9001:2000 |
CAPITAL STRUCTURE
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Capital
Investment : |
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Owned : |
Rs.
3.000 Millions |
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Borrowed : |
0.000 |
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Total : |
Rs.
3.000 Millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
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Particulars |
31.03.2008 |
31.03.2007 |
31.03.2006 |
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Sales Turnover |
50.000 |
50.000 |
40.000 |
Expected
Sales (2008-09) : Rs.80.000 Millions
LOCAL AGENCY FURTHER INFORMATION
The subject
is a manufacturer and exporter of mining equipments. The subject is having its production unit at Narela which is an
Industrial area situated at outskirts of Delhi. Mrs Ruchi Aggarwal (Age: 45 Years), is the Proprietor of the
Concern. Mr Kapil Solanki (Age: 28
Years), is looking after production, marketing and export activities.
The
subject is an ISO 9001:2000 Certified Company
The
subject is presently export their products to Middle East on the selling terms
of LC at sight basis. The subject is
also supplying their products in the domestic market.
Profile
An ISO 9001:2000
certified company, established with the purpose of providing cost-effective
solutions for industrial mining applications, subject strive to offer maximum value to the customers and is a leading
manufacturer and exporter of Wire Rope, Diamond Wire, Wire Saw Accessories,
Wire Saw Machine and other Mining Equipments.Concern has all the essential
facilities and skills to develop mining products to meet the exact specifications
of the customers, as per the requirement, designs and samples. To ensure the
excellent performance and accuracy of all their products, they perform in-house
quality control checks under the supervision of their quality control
personnel. Apart from providing products that are par excellence, they are
dedicated to ensure first class service to all their esteemed customers.
Following the highest
standards of quality and reliability, they are capable of developing and
delivering equipments that employ cutting-edge technology. The concern is
managed by highly proficient and experienced technocrats and business oriented
personnel. They possess state-of-the-art technology and high tech machines that
ensure excellent results, efficacy and quality of all their products like Wire
Rope, Diamond Wire, Wire Saw Accessories, Wire Saw Machine and other Mining
Equipments.
Concern stands on the
edifice of quality and reliability. Their success not only comes from supplying
quality products but also from their unmatched standard of service. Stringent
quality control measures ensure that any substandard products are weeded out at
the procurement stage itself. With a technically superior, highly reliable and
competitively priced product range backed by professional and ethical business
approach, subject is in league of reputed companies. The concern has been
catering to the mining industry with its vast range of technically sound
products.
Product Profile
They are the
manufacturer and exporter of the following product range:
v
Wire Rope
v
Diamond Wire
v
Wire Saw
Accessories
v
Wire Saw Machine
v
Other Mining
Machineries
Quality Assurance
Quality is the focal
point of their business and they ensure that the products manufactured by them are
of finest quality. They pursue a sole goal of a total focus on the quality of
products, customer service and prompt delivery. They undertake stringent
quality control measures ensuring supreme product quality. Their quality
professionals have acted as a catalyst for the entire industry in establishing
top-notch quality standards.
Infrastructure
They have
state-of-the-art technical know how. Their infrastructure is comprised of the
best and the latest gadgetry. Alongside, there are highly competent professionals
engaged in achieving higher levels of excellence. The machinery is constantly
kept under the scanner of the experts who rectify minor faults as well as
ensure for the efficiency of the machineries.
Trade References:-
v
Geetanjali Marble Private Limited, Katni –
483501,Madhya Pradesh, India
v
R K Marble Limited, Udaipur - 313001, Rajasthan,
India
v
S K Marble, Katni - 483501, Madhya Pradesh, India
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 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] 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.43.17 |
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UK
Pound |
1 |
Rs.86.26 |
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Euro |
1 |
Rs.68.78 |
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 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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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 |
|
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/normal. |
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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