MIRA INFORM REPORT

 

 

Report Date :

02.06.2008

 

IDENTIFICATION DETAILS

 

Name :

V H POLYMERS

 

 

Registered Office :

145, Narayan Dhuru Street, 2nd Floor, Mumbai – 400003, Maharashtra

 

 

Country :

India

 

 

Financials (as on) :

31.03.2008

 

 

Year of Establishment :

1982

 

 

IEC No.:

0307040062

 

 

PAN No.:

[Permanent Account No.]

AAAFV2483L

 

 

Legal Form :

Sole Proprietory Concern

 

 

Line of Business :

Manufacturer and Exporter of Moulded Rubber Products, Extruded Rubber Products, Rubber Sheets, PTFE/Teflon Bellows, Expansion Joints, etc.

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

Comments :

Subject is a well established and reputed concern meeting its normal commitments timeously. Trade relations are fair.

 

The concern can be considered good for normal business dealings.

 

INFORMATION PARTED BY

 

Name :

Mr. Haresh Shah

Designation :

Proprietor

Contact No.:

91-9821244999

Date :

02.06.2008

 

LOCATIONS

 

Registered Office :

145, Narayan Dhuru Street, 2nd Floor, Mumbai – 400003, Maharashtra, India 

Tel. No.:

91-22-23447286/ 20335874

Mobile No.:

91-9821244999

Fax No.:

91-22-23447286

E-Mail :

vhrubber@rediffmail.com

vhrubber@vsnl.net

Website :

http://www.vhpolymers.net

http://www.vhrubber.com

Location :

Rented

 

 

Factory 1 :

279/9, Jawahar Nagar, Road No.3, Goregaon (West), Mumbai – 400062, Maharashtra, India

Tel. No.:

91-22-23447286 / 20335874

Fax No.:

91-22-23447286

E-Mail :

vhrubber@rediffmail.com

 vhrubber@vsnl.net

 

 

Factory 2:

258, Sanjay Nagar, Kama Estate, Valbhat Road, Goregaon, India

Location :

Owned

 

 

SOLE PROPRIETOR

 

Name :

Mr. Haresh D. Shah

Designation :

Sole Proprietor

Address :

279/9, Jawahar Nagar, Road No.3, Goregaon (West), Mumbai – 400062, Maharashtra, India

Date of Birth/Age :

50 Years

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer and Exporter of Moulded Rubber Products, Extruded Rubber Products, Rubber Sheets, PTFE/Teflon Bellows, Expansion Joints, etc.

 

 

Products :

·       Moulded Rubber Products

·       Extruded Rubber Products

·       Rubber Sheets

·       PTFE/Teflon Bellows

·       Expansion Joints

 

 

Exports :

 

Products :

All Products

Countries :

·       Kazakhistan

·       UK

 

 

Terms :

 

Selling :

L/C and Cash 

 

 

GENERAL INFORMATION

 

Customers :

·       Wholesaler

·       End Users

 

 

No. of Employees :

Around 11 [In Office – 3 and In Factory – 8]

 

 

Bankers :

·       Bank of Baroda

111, Jawahar Nagar, Goregaon (West), Mumbai - 400062, Maharashtra, India

 

 

 

 

 

Banking Relations :

Satisfactory

 

 

Auditors :

 

Name :

Vijay Bhai

Chartered Accountants

Tel No.:

91-22-23447286/ 20335874

Fax No.:

91-22-23447286

 

 

 

 

Associates/ Subsidiary :

V H Rubber Trading Company

145, Narayan Dhuru Street, Mumbai – 400003, Maharashtra, India

Trading

 

 

CAPITAL STRUCTURE

 

Capital Investment :

Not Available

 

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

Particulars

 

 

 

31.03.2008

Sales Turnover

 

 

7.000

 

 

 

 

 

 

 

 

 

 

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Trust seal Acceptance Chart:

 

Parameters

 

Details

Existence Verification

 

Name

V H Polymers

Address

145, Narayava Bhuru Street, 2nd Floor, Mumbai – 400003, Maharashtra, India

2nd Address

279/9, Jawahar Nagar, Goregaov (west), Mumbai – 400062, Maharashtra, India

Phone/ Mobile Numbers

91-22-20335874/ 9821244999

Fax Numbers/ Telefax

91-22-23447286

 

 

Statutory Approvals

 

Legal Status of Firm

Proprietor

Central Sales Tax Registration

27910622624 (w.e.f. 01.08.2007)

TIN Registration

27910622624 (sw.e.f. 01.08.2007)

Import Export Code

0307040062

Name of Bank

Bank of Baroda

Current Account Number

08160200000769

Account Since

1982

 

 

Credibility Factors

 

Indiamart Client Since

Last 5 Years

Years of Establishment

1982

 

 

Trade Affiliations

No

 

 

Standards and Certifications

No

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trade References:

 

·       Anupam Belting Company

 

 

Industries Serve:

 

•  Oil Seals- Metaol claded and metal inserted
•  Gaskets- With or without reinforcement as per ANSI, DIN, BS & IS Standards
•  O Rings
•  Lip Seals- U Seals, V-Seals, Metal bonded seals
•  Safety Equipment- Gas masks, respirators, belts, goggles and tubes
•  Mountings- Pads, anti-vibrators, cushions etc.
•  Rollers- For paper, photocopiers, textile processing and chemical industries.
• Sugar- Plant manufacturers and maintenance
• Cement- Plant manufacturers, individual cement producers
• Chemical- Plant consultants and manufacturers, individual chemical plants.
• Textiles- Processing machine manufacturers & processors
• Engineering- Material Handling machanical processing, electrical manufacturing. Industrial Drier
• Manitenance- Replacement parts for earthmovers, conveyors, compressors, valves, pumps, engines, generators  

  etc.

 

 

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

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.42.59

UK Pound

1

Rs.84.16

Euro

1

Rs.65.99

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

6

--PROFITABILIRY

1~10

4

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

5

--RESERVES

1~10

5

--CREDIT LINES

1~10

5

--MARGINS

-5~5

--

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

NO

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

YES

--AFFILIATION

YES/NO

NO

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

TOTAL

 

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

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

NR

In view of the lack of information, we have no basis upon which to recommend credit dealings

No Rating

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions