MIRA
INFORM REPORT
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Report Date : |
29.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
GAYATRI MINERALS AND CHEMICALS |
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Registered Office : |
34-A, Shastri Nagar, Nizampura, Baroda – 390002, Gujarat |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1981 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BRDG00777A |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer, Selling and Exporter of Organic and Inorgantic
Chemicals. |
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 828000 |
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Status : |
Good |
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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. Proprietor is reported to be of good means. His trade
relations are reported as fair. Payments are usually correct and as per
commitment. The concern can be considered good for normal business dealings at
usual trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Ashokbhai Vankhede |
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Designation : |
Accountant |
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Contact No.: |
91-9327917757 |
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Date : |
29.02.2008 |
LOCATIONS
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Registered Office : |
34-A, Shastri Nagar, Nizampura, Baroda – 390002, Gujarat, India |
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Tel. No.: |
91-265-2781284/ 2780506/ 2782593 |
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Fax No.: |
91-265-2780228/ 9327917757 |
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E-Mail : |
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Website : |
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Area : |
6000 sq. ft. |
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Location : |
Owned |
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Factory : |
Gayatri Estate, Near Lucky Film Studio, Opposite Jaishree Insulators,
Village Maghsagar, Hotel -389350, District Panchmahals, Gujarat |
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Tel. No.: |
91-2676-220812/ 220001/ 221167 |
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Area : |
29950 sq. meters |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Paresh N. Patel |
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Designation : |
Proprietor |
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Date of Birth/Age : |
62 years |
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Qualification : |
B. E. (Chemical Engineer) |
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Experience : |
40 years in Chemical Industry |
KEY EXECUTIVES
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Name : |
Mr. Ashokbhai Vankhede |
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Designation : |
Accountant |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Selling and Exporter of Organic and Inorgantic
Chemicals. |
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Products : |
·
Benzaldehyde ·
Ortho Chloro Benzaldehyde ·
Ortho Chloro Benzaldehyde Acid ·
Benzyl Chloride ·
Benzyl Alcohol FFC/ B.P. ·
Benzyl Benzote I.P./ B.P. ·
Benzyl Cynide ·
Halazone U. S. P. ·
Benzaldehyde 2-Sulphonic Acid Sodium Salt ·
Dibenzyl Ether (DBO/ Dibenzyl Oxide) ·
Para Carboxy Benzene Sulphonamide ·
Calcium Chloride Solution and Hused |
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Exports : |
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Products : |
All Products |
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Countries : |
UK, USA, Japan, ,Sri Lanka, Brazil, Argentina, European Country, South America and South Asia. |
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Imports : |
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Products : |
Raw Materials |
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Countries : |
Japan, Italy, USA, Germany and China |
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Terms : |
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Selling : |
On L/C and D/A basis |
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Purchasing : |
On L/C or Credit (120 -180 days) basis |
PRODUCTION STATUS
Production Capacity is approximately 1000 TPM.
GENERAL
INFORMATION
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Customers : |
·
Wholesalers ·
End Users (India) ·
End Users (Abroad) ·
Importers |
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No. of Employees : |
100 |
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Bankers : |
Bank of Baroda Jetalpur Road Branch, Baroda, Gujarat |
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Facilities : |
The Concern enjoys Credit Limit facilities of Rs.120.000 millions and
C/C Limit Rs.130.000 millions and L/C Limits of Rs.250.000 millions from it’s
bankers. |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Subhash Patel and Company Chartered Accountants |
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Address : |
Baroda, Gujarat, India |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.102.000 millions |
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Borrowed : |
Rs.105.000 millions |
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Total : |
Rs.207.000 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2007 |
31.03.2006 |
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Sales Turnover |
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500.000 |
450.000 |
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Expected Sales (2007-08) : Rs.600.000 millions
LOCAL AGENCY FURTHER
INFORMATION
Nil
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.39.92 |
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UK Pound |
1 |
Rs.79.31 |
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Euro |
1 |
Rs.60.63 |
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 |
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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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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