MIRA
INFORM REPORT
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Report Date : |
31.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
SHANKAR DYES AND CHEMICALS |
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Registered Office : |
1209, Shankar Building, Gali no. 11, Sadar Bazar, New Delhi – 110006 |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
1970 |
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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 pigment. |
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 12500 |
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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. The concern can be considered normal for business dealings at usual
trade terms and conditions. Nothing adverse reported. |
INFORMATION PARTED
BY
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Name : |
Mr. Nirmal Kumar Jeswani |
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Designation : |
Partner |
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Date : |
26.07.2008 |
LOCATIONS
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Registered Office : |
1209, Shankar Building, Gali no. 11, Sadar Bazar, New Delhi – 110006,
Delhi, India |
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Tel. No.: |
91-11-23673462 / 23558239 / 23616830 |
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Mobile No.: |
91-9810355592 |
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Fax No.: |
91-11-23970589 |
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E-Mail : |
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Website : |
http://www.shankardyeschemicals.com |
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Location : |
Owned |
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Branch : |
119 Tilak Bazar, Delhi – 11006 |
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Tel. No.: |
91-11-23959574 / 23912061 |
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Fax No.: |
91-11-23970589 |
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E-Mail : |
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Location : |
Owned |
PARTNERS
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Name : |
Mr. Nirmal Kumar Jeswani |
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Designation : |
Partner |
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Date of Birth/Age : |
48 years |
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Qualification : |
Graduate |
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Experience : |
24 years |
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Name : |
Mr. Dalip Kumar Jeswani |
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Designation : |
Partner |
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Date of Birth/Age : |
40 years |
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Qualification : |
Graduate |
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Experience : |
16 years |
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Name : |
Mr. Kapil Jeswani |
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Designation : |
Partner |
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Date of Birth/Age : |
23 years |
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Qualification : |
Graduate |
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Experience : |
Just Joined |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of pigment. |
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Products : |
v
Pigment (Colour and Paste) v
Fluorescent Colour v
Nylon Colour v
Titanium (all kinds) v
Metallic Powder v
Gum Powder v
Sheet Resin v
Night Glow v
Mating Agent v
Anodising Chemical and Colour v
Neel Chemical and Colour v
Tinopal (for cloth) v
Meena Colour v
Khadi v
Foam Binder v
Plastic Sole v
Silicon (Oil, Milk and Spray) v
Double Tone Pearl Powder v
Emulsifier v
Japani Pearl Paste v
Radium Powder v
Oil Colour v
Kitonic Resin v
Dye Powder v
Zinc Powder and Lithophone v
Calcium v
N.C. Nail Remover v
Poly Amide v
Wax (all types) v
Cadium Colour (for glass) v
Iron Polish v
Pesticide Colour and Chemical v
Sparkle Glitter v
Fixer v
Direct Colour v
Acid Dye v
(PU) Resin and Hardener v
M. Seal Putti Chemical v
Crystal Adhesive Dana v
Photo Lamination Chemical v
Discharge Dye v
Glass Bead v
Gold Paste v
Fiber Colour, v
Glass and Matt v
Alkyd Resin v
Wood Stenol v
Fog Chemical (all flavours) for D.J. v
D.P.3.P. v
D.B.L.S. v
T.B.L.S. v
E.M.C. v
D.O.P. v
Candle, Colour, Dip Shiner v
Melamine (for paint P.P.) v
Bindi Material, Chemical and Colour v
Computer Ink Cartridge Chemical v
Fire Resistant (for fire proof) v
Textile Material, Chemical and Colour v
Sulphur Colour and Chemical v Handicraft Dye
and Chemical (full range) |
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Brand Names : |
LAXMI |
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Agencies Held : |
v Gilitron
Products, USA v Srazile Company,
Brazil v Orion Metal
Powder Company Private Limited v Sudershan
Chemical Industries |
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Exports : |
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Countries : |
Asian Countries |
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Imports : |
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Countries : |
USA, Brazil and Germany |
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Terms : |
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Selling : |
Cash / Credit |
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Purchasing : |
Cash / Credit |
GENERAL
INFORMATION
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Suppliers : |
v Gilitron
Products, USA v Srazile Company,
Brazil v Orion Metal Powder
Company Private Limited v Sudershan
Chemical Industries |
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Customers : |
v Printing
Industries v Plastic
Industries |
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No. of Employees : |
12 |
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Bankers : |
Bank of Baroda, Sadar Bazar, Delhi – 110006, India |
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Banking Relations
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Satisfactory |
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Associates/Subsidiaries : |
Laxmi Plastic |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 2.500 Millions |
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Borrowed : |
0.000 |
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Total : |
Rs. 2.500 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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30.000 |
25.000 |
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Profit/Loss for the year |
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11% |
11% |
Expected Sales (2008-09) : Rs. 40.000 Millions
LOCAL AGENCY FURTHER
INFORMATION
Profile:-
Subject is a leading and
distinguished manufacturer, exporter,
trader and supplier of Metallic Powder, Fluorescent Powder, Pigment Powder,
Cosmetic Colour and Pearl, Sparkle Colour Powder, Glitter, Zari and Rainbow,
Resin Hardener (Epoxy and Epoxy Curing Agent), Pigment Pearl Powder, etc.
Their firm came into effect in the year 1970 and during these years they have
been able to understand and fulfill the varied requirements of their
prestigious customers.
They are the only manufacturer of DJ dance and
fog fuel compound in India including more than 4,500 varieties of chemicals and
dyes. Being a customer-focused concern, they take into account their valuable
feedback and suggestions. They have always adhered to their philosophy of
commitment towards their customers, authentic business dealings and ceaseless
efforts to develop innovative products.
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.42.54 |
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UK Pound |
1 |
Rs.84.86 |
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Euro |
1 |
Rs.66.95 |
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 |
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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46 |
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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