MIRA
INFORM REPORT
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Report Date : |
19.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
SHIBAAM POLYMERS |
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Registered Office : |
No. 19, S P Road, G R Lane, Shreyas Complex, Bangalore - 560002,
Karnataka |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
1998 |
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IEC No.: |
0704013029 |
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PAN No.: [Permanent
Account No.] |
ACVPL 5523C |
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Legal Form : |
Partnership concern with an unlimited liability of the partners. |
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Line of Business : |
Manufacturers of Nylon, Mos2, P.P., Polyacetal – Delrin, H. D. P.E.,
Solid Rods, Suare Rods, Buses and Components for application is Engineering, Textile,
Metal, Material Handling Equipments, Automobile, Paper / Sugar Mills,
Bottling and Food Proog Railways, Chemicals, Marine related Industries. |
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 : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and reputed concern meeting its normal
commitments timeously. Trade relations are fair. Business is active. The Concern can be considered good for normal business dealings. |
LOCATIONS
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Registered Office : |
No. 19, S P Road, G R Lane, Shreyas Complex, Bangalore - 560002,
Karnataka, India. |
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Tel. No.: |
91-80-22222823 |
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Mobile No.: |
91-9448854242 / 9448834807 |
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Tele Fax No.: |
91-80-22214381 |
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E-Mail : |
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Website : |
www.shibaam.com |
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Factory : |
Bilekahall Village, Bannerghatta Road, Bangalore - 560002, Karnataka,
India. |
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Area : |
500 Sq. ft. |
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Location : |
Rented |
PARTNERS
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Name : |
Mr. Murtaza |
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Designation : |
Partners |
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Date of Birth/Age : |
30 Years |
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Qualification : |
B.E. |
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Experience : |
10 Years |
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Name : |
Mr. Yusuf |
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Designation : |
Partners |
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Date of Birth/Age : |
32 Years |
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Qualification : |
B.E. |
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Experience : |
12 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturers of Nylon, Mos2, P.P., Polyacetal – Delrin, H. D. P.E., Solid
Rods, Suare Rods, Buses and Components for application is Engineering,
Textile, Metal, Material Handling Equipments, Automobile, Paper / Sugar
Mills, Bottling and Food Proog Railways, Chemicals, Marine related
Industries. |
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Products : |
·
Nylon Rods ·
Nylon Mos2 ·
Nylon Suare Rods ·
Slipper Pad ·
Nylon Sheets ·
P.P Rods ·
P.P Square Rods ·
P.P Profiles ·
P.P Sheets ·
Clicking board ·
Delrin Rods ·
Delrin Sheets ·
Delrin Suare Rods ·
PVC Sheets ·
PVC Rods |
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Exports : |
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Countries : |
Dubai |
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Imports : |
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Countries : |
China |
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Terms : |
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Selling : |
Against Payments |
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Purchasing : |
Against Payments |
GENERAL
INFORMATION
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Suppliers : |
·
Reliance Industries ·
Gujarat State Fertilisers Limited |
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Customers : |
·
Burhani Hardware Stores ·
Industrials and Marine |
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No. of Employees : |
12 |
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Bankers : |
Laxmi Vilas Bank City Market, Bangalore - 560002, Karnataka, India. |
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Facilities : |
Operating on own funds |
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Banking
Relations : |
Satisfactory |
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Auditors : |
Sumant Prigal Chartered Accountants Bangalore - 560002, Karnataka, India. |
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Associates/Subsidiaries : |
·
Tarmac Poly Plant ·
Burhani hardware Stores |
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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31.03.2008 |
31.03.2007 |
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Sales Turnover |
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14.000 |
10.000 |
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Profit/Loss for the year |
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15% |
15% |
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Export Value |
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15.000 |
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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 |
Shibaam Polymers |
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Address |
No. 19, S P Road, G R Lane, Shreyas Complex, Bangalore - 560002,
Karnataka, India |
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2nd address |
Nil |
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Phone/ Mobile Numbers |
91-80-22214381 / Mo. 91-9448854242 / 9448834807 |
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Electricity Bill |
667BGP667 |
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Statutory Approvals |
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Legal Status of Firm |
Partnership |
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Income Tax Registration |
ACVPL 5523C |
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Central Sales Tax Registration |
11278250 |
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State Sales Tax Registration |
11228258 |
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Service Tax Registration |
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VAT/ TIN Registration |
29650298269 |
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Excise Registration |
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Import Export Code |
0704013029 |
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Name of Bank |
Laxmi Vilas Bank |
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Current Account Number |
0164351000002096 |
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Credibility Factors |
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IndiaMART Client Since |
Bout 2 Years |
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Years of Establishment |
1998 |
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Turn Over |
14.000 millions |
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Turn Over Year |
2007-08 |
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Trade Affiliations |
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SSI Registration |
08-01-B07672 PMT Tiny |
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 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.42.90 |
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UK Pound |
1 |
Rs.83.74 |
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Euro |
1 |
Rs.66.46 |
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 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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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 |
YES |
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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, we have no basis upon which to
recommend credit dealings |
No Rating |
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