MIRA
INFORM REPORT
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Report Date : |
25.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
SURYA SURGICAL INDUSTRIES |
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Registered Office : |
105, Angalamman Koil Street, Choolai, Chennai – 600 112, Tamilnadu |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Year of Establishment : |
1999 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CHES22707G |
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PAN No.: [Permanent
Account No.] |
AAOFS9244G |
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Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners. |
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Line of Business : |
Manufacturer and Exporter of Autoclave Equipment, Suction Apparatus,
Dressing Drum, Instrument Sterilizer, Autoclaving Trays and Boxes, Catheter Tray,
Patient Care Items, Food and Beverage Service Utensils, Hollow Ware, Water
Storage and Heating Appliances. |
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 25000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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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.
Nothing adverse reported. The concern can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office / Factory : |
105, Angalamman Koil Street, Choolai, Chennai – 600 112, Tamilnadu,
India |
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Tel. No.: |
91-44-26691006 |
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Mobile No.: |
91-9840148278 |
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Fax No.: |
91-44-26691797 |
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E-Mail : |
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Website : |
PARTNERS
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Name : |
Mr. Mukeshkumar Jain |
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Designation : |
Partner |
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Name : |
Mrs. Madhubala Jain |
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Designation : |
Partner |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Autoclave Equipment, Suction Apparatus,
Dressing Drum, Instrument Sterilizer, Autoclaving Trays and Boxes, Catheter
Tray, Patient Care Items, Food and Beverage Service Utensils, Hollow Ware,
Water Storage and Heating Appliances. |
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Exports : |
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Products : |
v Equipments |
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Countries : |
v South Asian
Countries |
GENERAL
INFORMATION
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No. of Employees : |
20 |
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Bankers : |
ABN Amro Bank Chennai |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Not Available |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 5.000 millions |
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Borrowed : |
-- |
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Total : |
Rs. 5.000 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2007 |
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Sales Turnover |
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18.000 |
LOCAL AGENCY
FURTHER INFORMATION
Trust Seal
Acceptance Chart
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Parameters |
Details |
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Existence Verification |
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Name |
Surya Surgical Industries |
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Address |
105, Angalamman Koil Street, Choolai, Chennai – 600 112, Tamilnadu,
India |
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Tel No. Fax No. |
91-44-26691006 91-44-26691797 |
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Statutory Approvals |
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Legal Status of Firm |
Partnership Firm |
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Income Tax Registration |
AAOFF9244G |
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Central Sales Tax Registration |
615923 |
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VAT / TIN Registration |
33910500887 |
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Import Export Code |
402021860 |
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Name of Bank |
ABN Amro Bank |
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Account Since |
2007 |
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Credibility Factors |
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Year of Establishment |
1999 |
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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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Chambers of Commerce Membership |
No |
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D and B D-U-N-S Number |
No |
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Govt. Recognised Export House Status |
No |
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Other Affiliations |
No |
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Standards and Certifications |
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Quality Management Systems |
In House Quality Systems. |
As Per Website Details
Established in the year 1999, subjects are one of the leading manufacturer and exporter of various hospital and surgical equipment. They produce a comprehensive range of hospital and medical products.
The expertise lies in efficient processing of stainless steel for various
applications in the field of Hospital and Medical equipment.
The aim is to provide optimum customer satisfaction by offering products of
high quality, performance and value at competitive cost with dependable
delivery schedule.
They serve domestic as well as export market. They have a dealership network of
about 300 prominent dealers spread all over India. Besides these, the clients
include leading Exporters, Private Hospitals and Government Institutions in
various parts of India.
Hospicom is
a name associated with quality in the field of stainless steel hospital,
medical and surgical equipment. Incorporated in 1982, the organization aimed to
develop its core competence in the production of various medical ware in
stainless steel.
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 :
The 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.
The 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. 41.96 |
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UK Pound |
1 |
Rs. 83.78 |
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Euro |
1 |
Rs. 65.82 |
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 |
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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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, they have no basis upon which to
recommend credit dealings |
No Rating |
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