MIRA
INFORM REPORT
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Report Date : |
21.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
SAGAR PLASTICS AND POLYMER |
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Registered Office : |
Sahjanand Compound, Acharya Donde Marg, Tokarsi Jivraj Wadi, Behind Sewri
Bus Depot, Sewri (West), Mumbai -400 015, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
2005 |
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PAN No.: [Permanent
Account No.] |
AABPP5297R |
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Legal Form : |
Sole Proprietary Concern |
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Line of Business : |
Manufacturer and
Exporter of Plastic Files and Folders like Display Books, Project Report
Files, Swingrip Files, Lever Arch Files, Visiting Card Holders, Sheet
Protector, etc. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 3000 |
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Status : |
Small Concern |
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Payment Behaviour : |
Slow by are 30 days |
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Litigation : |
Clear |
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Comments : |
Subject is a small concern having local business. Trade relations are
fair. Payments are reported as slow. The concern can be considered for small business dealings at usual
trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Dilip |
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Designation : |
Accountant |
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Contact No.: |
91-9819128443 |
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Date : |
17.06.2008 |
LOCATIONS
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Registered Office/ Factory : |
Sahjanand Compound, Acharya Donde Marg, Tokarsi Jivraj Wadi, Behind Sewri
Bus Depot, Sewri (West), Mumbai-400 015 , Maharashtra, India |
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Tel. No.: |
91-22-24171446 |
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Mobile No.: |
91-9820026581 |
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Fax No.: |
91-22-24171446 |
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Websites: |
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Location : |
Rented |
SOLE PROPRIETOR
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Name : |
Mr. Bhavesh Vaghaji Patel |
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Designation : |
Proprietor |
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Date of Birth/Age : |
40 years |
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Qualification : |
Graduate |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and
Exporter of Plastic Files and Folders like Display Books, Project Report Files,
Swingrip Files, Lever Arch Files, Visiting Card Holders, Sheet Protector,
etc. |
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Products : |
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Terms : |
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Selling : |
Credit (30 Days) |
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Purchasing : |
Credit (30 Days) |
GENERAL
INFORMATION
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Customers : |
Wholesalers |
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No. of Employees : |
6 |
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Bankers : |
Cosmos Co-op Bank Limited , Mumbai, Maharashtra India |
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Facilities : |
The concern do not enjoy facilities from its banker. |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Vardhan and Raja Chartered Accountants |
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Associates/Subsidiaries : |
Sagar Plastics and Stationery, Fort, Mumbai-400 023, Maharashtra,
India |
CAPITAL STRUCTURE
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Capital Investment : |
(Estimated) |
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Owned : |
Rs. 0.500 million |
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Borrowed : |
--- |
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Total : |
Rs. 0.500 million |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2008 |
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Sales Turnover |
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9.500 |
LOCAL AGENCY
FURTHER INFORMATION
TRUSTSEAL ACCEPTANCE CHART
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Parameters |
Detail |
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Statutory Approvals |
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Income Tax Registration |
AABPP5297R |
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VAT / TIN Registration |
27870246480 |
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Name of Bank |
Cosmos Bank |
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Creditability Factors |
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India Mart Client Since |
3 years |
WEBSITE DETAILS:-
Concern Profile :-
Subject act as a
manufacturer and exporter of premium quality plastic files and folders like
Display Books, Project Report Files, Swingrip Files, Lever Arch Files, Visiting
Card Holders, Sheet Protector, etc. All their products are widely used across
corporates, business units, govt. work. They emphasize on building up a large
repertoire of office stationery products to meet end-consumer requirements. In
pursuing their goal for success, they aim to meet their customers' needs for
high quality, innovative designs as well as competitive prices.
Products
• Display Book
• Project Report File
• Swingrip File
• Lever Arch File
• Ring Binder
• Expanding File
• Deluxe Clip File
• Sheet Protector
• Spring File
• Computer File
• Visiting Card Album
• Conference Folder
Production
Section
Their state-of-art
manufacturing and processing unit is well equipped with the latest machines for
ruling, cutting, binding and drilling etc., to produce international quality
products. Some of the prominent manufacturing machines that they have installed
in their production unit are:
1. Plastic Moulding Machine
2. Plastic Cutting
Machine
Note: Committed towards on time completion of various projects, they
ensure to continually upgrade these
machines to improve production quality and also to accommodate bigger
orders.
Integrated
Facilities
Storage Unit: They have warehouse space which holds
massive stocks of their products for immediate dispatch. This enhances their
capability to execute orders in short lead times. The warehouses are well
maintained and organized.
Packaging Facility: They take every possible care in packaging of their
products to ensure their safe transit and delivery. They use good packing
materials and also ensure that they are not scratched or damaged during
transit.
Timely Delivery: They understand the importance and necessity of timely
delivery of orders and to achieve this goal they have developed good logistics
facilities. Through their well-defined logistic support and tie-ups with major
C and F companies, they are committed to deliver their consignments right on
time.
Quality
They have a quality
check department to monitor all stages of production. Their system of quality
check starts with the examining of raw materials and carries on till the
products are finally dispatched. Their entire process is carried out under the
supervision of experienced professionals.
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.42.97 |
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UK Pound |
1 |
Rs.84.75 |
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Euro |
1 |
Rs.66.72 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
4 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
3 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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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 |
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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28 |
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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