MIRA
INFORM REPORT
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Report Date : |
21.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
PARTAP MECHANICAL WORKS |
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Registered Office : |
10/11, Dada Colony, Industrial Area, Jalandhar – 144004, Punjab |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
1996 |
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PAN No.: [Permanent
Account No.] |
AAGPV9039G |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer and Distributor of gate Valves, Globe Valves in Gun
Metals and others. |
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 6000 |
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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 concern 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. Vinay Vinayak |
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Designation : |
Managing Partner |
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Date : |
11.07.2008 |
LOCATIONS
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Registered Office/Factory : |
10/11, Dada Colony, Industrial Area, Jalandhar – 144004, Punjab, India |
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Tel. No.: |
91-181-5087500 / 2290500 |
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Mobile No.: |
91-9988817500 / 9988815500 |
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Fax No.: |
91-181-2290500 |
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E-Mail : |
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Website : |
www.partapvalves.com |
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Area : |
9000 sq fts. |
SOLE PROPRIETOR
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Name : |
Mr. Vinayak |
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Designation : |
Proprietor |
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Address : |
Jalandhar |
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Date of Birth/Age : |
58 years |
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Qualification : |
Graduate |
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Experience : |
26 years |
KEY EXECUTIVES
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Name : |
Mr. Vinay Vinayak |
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Designation : |
Managing Partner |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Distributor of gate Valves, Globe Valves in Gun
Metals and others. |
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Products : |
v ISI-Marked Valves: Bronze
Gate Valve, Bronze Globe Valve, Bronze Gate Valve Flanged, Bronze Vertical
Check Valve and Bronze Horizontal Check Valve v Non-ISI-Marked Valves: Gun
Metal Wheel Valve No.3, Gun Metal Wheel Valve No.4, Gun Metal Wheel Valve
No.5, Gun Metal Gate Valve Regular, Gun Metal Gate Valve Hatterslay, Bronze
Gate Valve (Hex. Type), Gun Metal Vertical Check Valve, Gun Metal Foot Valve,
Gun Metal Horizontal Check Valve No.3, Gun Metal Horizontal Check Valve No.4,
Bronze Ball Valve, Gun Metal Horizontal Check Valve No.5, Bronze Angle Check
Valve and Gun Metal Ferrule Cock v Boiler Mounting: Bronze
Horizontal Lift Check Valve, Bronze Y-Type Strainer, Bronze Pressure Relief
Valve, Bronze Union Bonnet Steam Stop Valve No.9, Bronze Globe Steam Stop
Valve No.5 and Bronze Thermodynamic Steam Trap v
Brass Valves: Brass Swing Check Valve, Brass Ball
Valve, Brass Foot Valve (PVC Strainer/Brass Strainer), Brass Nozzle Cock,
Brass Stop Cock Heavy and Brass Bib Cock Heavy. |
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Terms : |
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Selling : |
Cash / Credit (30 days) |
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Purchasing : |
Cash / Credit (30 days) |
GENERAL
INFORMATION
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Customers : |
End Users |
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No. of Employees : |
47 (Office-7 and Factory-40) |
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Bankers : |
UCO Bank, Jalandhar– 144004, Punjab, India |
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Facilities : |
Rs. 1.500 Millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Chopra and Company (Chartered Accountant) |
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Address : |
Jalandhar– 144004, Punjab, India |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 1.200 Millions |
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Borrowed : |
0.000 |
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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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31.03.2008 |
31.03.2007 |
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Sales Turnover |
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5.000 |
4.600 |
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Profit/Loss for the year |
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0.254 |
0.240 |
SUMMARISED RESULTS
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PARTICULARS |
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31.03.2008 |
31.03.2007 |
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Proprietor’s Capital |
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1.200 |
1.200 |
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Current Liabilities |
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5.700 |
5.500 |
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Fixed Assets |
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3.800 |
3.400 |
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Investments |
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0.130 |
0.125 |
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Inventories |
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2.045 |
1.920 |
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Sundry Debtors |
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3.000 |
2.800 |
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Cash and Bank Balance |
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0.110 |
0.165 |
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Current Assets |
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4.600 |
3.600 |
LOCAL AGENCY
FURTHER INFORMATION
Trade References:-
v
Local Market
v
Builders at Jalandhar
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.42.78 |
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UK Pound |
1 |
Rs.85.51 |
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Euro |
1 |
Rs.67.90 |
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 |
6 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
6 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
6 |
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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 |
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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54 |
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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