MIRA
INFORM REPORT
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Report Date : |
31.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
S R I IMPEX PRIVATE LIMITED |
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Registered Office : |
56/58, Garibdas Street, Dadajee Dhakjee Building, 1st Floor,
Mumbai – 400003, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
05.11.1997 |
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Com. Reg. No.: |
111715 |
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CIN No.: [Company
Identification No.] |
U51909MH1997PTC111715 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMS31568F |
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PAN No.: [Permanent
Account No.] |
AAFCS3921G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer, Distributor, Exporter and Importer of All Grades of
Synthetic Rubbers. |
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 86000 |
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Status : |
Good |
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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 company having satisfactory
track. Trade relations are fair. Payments are usually correct and as per
commitments. The company and group are doing well. It can be considered good for normal business dealings at usual trade
terms and conditions. |
LOCATIONS
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Registered Office/ Factory : |
56/58, Garibdas Street, Dadajee Dhakjee Building, 1st
Floor, Mumbai – 400003, Maharashtra, India |
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Tel. No.: |
91-22-23412874/ 23447929/ 6254106/ 4107 |
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Fax No.: |
91-22-23410496/ 6254108 |
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Mobile : |
91-9821044959/ 9867344959 |
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E-Mail : |
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Website : |
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Area : |
560 sq. ft. |
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Location : |
Owned |
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Administrative Office : |
101/102, Radhka Building, 1st Floor, 55 Gulmohar Road,
Radhika Juhu Scheme, Vile Parle West, Mumbai – 400049, Maharashtra, India |
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Tel. No.: |
91-22-26254106/ 26254107/ 26209715 |
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Fax No.: |
91-22-26254108 |
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Mobile : |
91-9821044959/ 9867344959 |
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E-Mail : |
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Website : |
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Area : |
2250 sq. ft. |
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Location : |
Owned |
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Warehouse : |
Bhiwandi |
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Tel No.: |
91-2522-274273 |
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Fax No.: |
91-2522-274330 |
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Area : |
80000 sq. ft. |
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Location : |
Owned |
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Branch Office : |
Located at:
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DIRECTORS
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Name : |
Mr. Ravindra Parekh |
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Designation : |
Director |
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Date of Birth/Age : |
40 years |
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Qualification : |
B Com, MBA |
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Name : |
Mrs. Indra Parekh |
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Designation : |
Director |
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Date of Birth/Age : |
38 years |
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Qualification : |
Rubber Technical |
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Name : |
Mr. Surendra Parekh |
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Designation : |
Director |
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Date of Birth/Age : |
37 years |
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Qualification : |
B. Com |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Distributor, Exporter and Importer of All Grades of
Synthetic Rubbers. |
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Products : |
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Agencies Held : |
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Exports : |
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Products : |
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Countries : |
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Imports : |
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Products : |
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Countries : |
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Terms : |
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Selling : |
L/C, Cash and Credit |
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Purchasing : |
L/C, Cash and Credit |
GENERAL
INFORMATION
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Customers : |
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Suppliers : |
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No. of Employees : |
73 (Office – 52, Factory 12 and Branch – 9) |
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Bankers : |
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Facilities : |
L/C Rs.130.000 Millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
A P Rathi and company Chartered Accountant |
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Address : |
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Group of Companies : |
Line of Business : Stockeist for Rubber chemicals
Line of Business : Manufacturer of Perform |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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150000 |
Equity Shares |
Rs.10/- each |
Rs.1.500
Millions |
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FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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1.500 |
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2] Share Application Money |
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0.000 |
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3] Reserves & Surplus |
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15.747 |
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4] (Accumulated Losses) |
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0.000 |
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NETWORTH |
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17.247 |
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LOAN FUNDS |
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1] Secured Loans |
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0.140 |
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2] Unsecured Loans |
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1.306 |
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TOTAL BORROWING |
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1.446 |
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DEFERRED TAX LIABILITIES |
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0.000 |
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TOTAL |
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18.693 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.085 |
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Capital work-in-progress |
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0.000 |
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INVESTMENT |
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0.056 |
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DEFERREX TAX ASSETS |
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0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.000 |
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Sundry Debtors |
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3.009 |
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Cash & Bank Balances |
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1.693 |
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Other Current Assets |
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16.507 |
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Loans & Advances |
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1.267 |
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Total
Current Assets |
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22.476 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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3.691 |
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Provisions |
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0.242 |
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Total
Current Liabilities |
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3.933 |
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Net Current Assets |
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18.543 |
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MISCELLANEOUS EXPENSES |
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0.009 |
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TOTAL |
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18.693 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2008 |
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Sales Turnover |
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3378.728 |
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Other Income |
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0.000 |
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Total Income |
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3378.728 |
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Profit/(Loss) Before Tax |
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2.625 |
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Provision for Taxation |
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0.000 |
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Profit/(Loss) After Tax |
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2.625 |
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Expenditures : |
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Purchases (Direct) |
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2.174 |
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Purchases (Indirect) |
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3342.777 |
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Direct and Indirect Expenses |
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31.152 |
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Total Expenditure |
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3376.103 |
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KEY RATIOS
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PARTICULARS |
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31.03.2008 |
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PAT / Total Income |
(%) |
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0.08 |
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Net Profit Margin (PBT/Sales) |
(%) |
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0.08 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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11.64 |
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Return on Investment (ROI) (PBT/Networth) |
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0.15 |
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Debt Equity Ratio (Total Liability/Networth) |
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0.31 |
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Current Ratio (Current Asset/Current Liability) |
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5.71 |
LOCAL AGENCY
FURTHER INFORMATION
Trade Reference:
- SKF India Limited, Bangalore
Website Details
Profile:
Subject is a part of Surendra Sales Corporate Group in
India. It has been involved in the traditional yarn and textile sector for the past
60 years. It was in the year 1986, that Company set out as a separate
distribution house concentrating mainly on rubber and polymer. After being in
the rubber industry for over a year, S.R.I. felt the need to import high
quality raw material to fulfill the overgrowing needs of customers in India.
Not only did we import branded synthetic rubber then, but also decided to grow
much beyond by introducing newer brands in the market.
The S.R.I. group has emerged successfully in every field of operation thereby
winning confidence of customers allover. They believe in developing new and
innovative techniques to solve queries and to meet the
overgrowing demands of the rubber industry. Subject today has grown into the
largest and most diversified distributor of Synthetic rubber and chemicals.
Outstanding Services:
With advanced technology, updated infrastructure and a
skilled team, company is committed towards meeting the ever-growing customer
needs. The company is determined to create value and highly qualified
professionals, having over 20 years of experience. Company serves its customers
with “just in time deliveries”. Supported by a country wide network, S.R.I
technical team works round the clock in order to excel in providing the best
service and maximum customer satisfaction.
The Company’s logistics department works in and out for faster and safer
delivery of materials from their various warehouses in 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.42.47 |
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UK Pound |
1 |
Rs.84.00 |
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Euro |
1 |
Rs.66.14 |
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 |
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 |
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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