MIRA
INFORM REPORT
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Report Date : |
01.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
AWISHKAR ASSOCIATES |
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Registered Office : |
P.B. # 2745, 26, 1st
Main Road, Sampangi Ram Nagar, Bangalore – 560 027, Karnataka |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1975 |
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Tin : |
29730068238 |
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CST : |
00264179 |
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IEC No.: |
0793014166 |
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ECC : |
ACRPS 1539B XD001 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Supplier of Raw Materials for
PCB, Paint, Printing Ink and Paper 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 34000 |
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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. |
INFORMATION PARTED
BY
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Name : |
Swarna Shri L |
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Designation : |
Secretary |
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Contact No.: |
91-80-22226408 |
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Date : |
27.02.2008 |
LOCATIONS
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Registered Office : |
P.B. # 2745, 26, 1st
Main Road, Sampangi Ram Nagar, Bangalore – 560 027, Karnataka, India |
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Tel. No.: |
91-80-22237977/22226408 |
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Fax No.: |
91-80-22221779 |
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E-Mail : |
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Area : |
1,000 sq. fts. [Owned] |
SOLE PROPRIETOR
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Name : |
Mr. Pradip Shah |
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Designation : |
Sole Proprietor |
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Address : |
Apt. No. A-2, Farville Apts.,
92/1, 3rd Cross Lavalle Road, Bangalore – 560001 |
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Date of Birth/Age : |
59 Years |
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Qualification : |
B. Tech (Chemical Engineer) from
Madras University – (1970 Batch) |
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Experience : |
37 Years |
KEY EXECUTIVES
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Name : |
Mr. Ashwin Bhagat |
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Designation : |
General Manager |
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Date of Birth/Age : |
59 Years |
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Qualification : |
B. Tech (Chemical Engineer) from
Madras University – (1970 Batch) |
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Experience : |
37 Years |
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Mobile No.: |
91-9342550942 |
BUSINESS DETAILS
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Line of Business : |
Supplier of Raw Materials for
PCB, Paint, Printing Ink, Paper Industries and Resin Industries. |
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Products : |
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Agencies Held : |
v
Kokdo Chemical Company Limited, South Korea Reference:
Mr. T. H. Kim, Export Manager Tel.
No.: 91-822-32821562 Fax:
91-822-32821588 Email: trade@kukdo.com Products Handled: Amine Function
compounds epoxy resins and Hardeners v
Kukdo Chemical (Kunshan)
Company Limited China – 215341 Reference – Mr. Song Tel. No.: 91-86-512-57460881 Fax. No.: 91-86-512-57460886 v
Samwoo Oil Chemical Company Limited, South Korea Reference:
Ms. B.Y.Kim, Export Manager Tel:
91-822-27134200 Fax:
91-822-27045363 Email: samoil@unitel.co.kr Products
handled: Dimer Acid, monobasic acid and soy oil fatty acid v
Doosan Corporation Electro
– materials BG, Seoul, Korea And Doosan
Electronic Materials Singapore Private Limited, Singapore Reference – Mr. M. K. Appersamy Tel. No.: 91-65-68626327 Fax. No.: 91-65-68626329 v
Kolon Industries Inc., Korea Reference
: Mr. J. Eun, Managr, DFR Business Team Tel.
No.: 91-822-36773902 Fax:
91-822-36773889 / 3696 Email: eun@kolon.com Products
handled: Dry film Photoresist v
Lona Industries Limited,
Mumbai Reference:
Mr. A.D. Gurjar, Sales Manager Tel.
No.: 91-22-24307441 Fax :
91-22-24363595 Products
Handled : Phthalocyanine pigments v
Apex Dyestuff &
Intermediates, Ahmedabad Reference:
Mr. Shrenik Merchants/ Mr. Prashant Merchant, Partners Tel.
No.: 91-79-27541070 Fax: 91-79-25893858 Email: apexpigments@yahoo.com
Products
Handled: All types of organic yellow and red pigments v
Paradise Chemical
Industries, Ahmedabad Reference:
Mr. Ramesh C. Shah, Proprietor Tel.
No.: 91-79-25831254 Fax :
91-79-25831837 Products
Handled: Semi-transparent organic yellow pigment. v
N. R. Industries, Ahmedabad v
Doosan Corporation
Electromarterials Bg, Korea Reference:
Mr. Jun Lee, Asst. Manager, Overseas sales Team Tel.:
91-822-33981970 Fax:
91-822-33981979 Email: junsuk@doosan.com Products
handled: All types of rigid and flexible copper clad laminates, Like
paper phenolic, glass epoxy from 0.1mm to 2.4mm thick, composite epoxy,
prepress for multiplayer etc. v
Sirpi S.R.L., Italy Reference:
Dr. Manuel Hasan, Director Tel.
No.: 91-3902-55181191 Fax:
91-3902-55181580 Email: info@sirpi.it Products
handled: All types of PCB Inks, like photo imageable, U.V.curing and thermal
curing solder mask, ETCH resist and legend inks. All types of graphic inks
for printing on synthetic substrate |
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Imports : |
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Terms : |
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Selling : |
D/A (90-120 days) |
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Purchasing : |
D/A (120 days) |
GENERAL
INFORMATION
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Customers : |
End Users v
Mr. C. S. Bhaskar, Chief
Manager PCB, ITI Limited, Doorvani Nagar, Bangalore – 560 016, Karnataka v
Mr. N. M. Saied, C.M.D.,
Fortran Cirkit Electronics Pvt. Ltd., Plot No. 44 and 53, Developed Plot
Estate for Electronics, Perungudi, Chennai – 600 096, Tamilnadu v
Mr. Raja Ganguli, Coates of
India Limited v
Mr. Anil Reddy, M.D.,
Universal Coatings |
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No. of Employees : |
8 |
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Bankers : |
v
City Union Bank Limited Koramngala
Branch, Bangalore – 560 095, Karnataka v
IDBI Bank Mission Road, Bangalore – 560027 |
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Facilities : |
City Union Bank Limited - Cash Credit Limit – Rs. 2.500 Millions
and FLC Limit – Rs. 5.000 Millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
P. S.
Ananda Rao and Company Chartered Accountants |
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Address : |
No 5, “Taranga”, 35, Binny
Layout, Behind Attiguppe, Vijaya Nagar,
Bangalore – 5600040, Karnataka, India |
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Tel. No.: |
91-80-57606336 |
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Fax No.: |
91-80-23215652 |
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E-Mail : |
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Memberships : |
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Associates/Subsidiaries : |
Awishkar International Line of Business - Indenting
Agents for Direct Import by buyers in India Bluemine Chemidiates Private
Limited Line of Business - Dealing in Dyes, Pigments and Chemicals A A Dyements Line of Business – Indenting |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 8.381 Millions |
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Borrowed : |
-- |
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Total : |
Rs. 8.381 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2007 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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8.381 |
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2] Share Application Money |
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0.000 |
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3] Reserves & Surplus |
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0.000 |
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4] (Accumulated Losses) |
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0.000 |
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NETWORTH |
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8.381 |
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LOAN FUNDS |
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1] Secured Loans |
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2.476 |
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2] Unsecured Loans |
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4.050 |
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TOTAL BORROWING |
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6.526 |
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DEFERRED TAX LIABILITIES |
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TOTAL |
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14.907 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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9.468 |
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Capital work-in-progress |
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0.000 |
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INVESTMENT |
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0.256 |
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DEFERREX TAX ASSETS |
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0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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3.188 |
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Sundry Debtors |
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8.511 |
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Cash & Bank Balances |
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1.226 |
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Other Current Assets |
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0.000 |
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Loans & Advances |
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0.392 |
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Total
Current Assets |
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13.317 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
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8.134 |
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Provisions |
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0.000 |
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Total
Current Liabilities |
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8.134 |
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Net Current Assets |
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5.183 |
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MISCELLANEOUS EXPENSES |
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0.000 |
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TOTAL |
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14.907 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2007 |
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Sales Turnover |
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52.510 |
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Other Income |
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3.143 |
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Total Income |
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55.653 |
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Profit/(Loss) Before Tax |
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3.473 |
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Provision for Taxation |
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1.134 |
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Profit/(Loss) After Tax |
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2.339 |
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Import Value |
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46.300 |
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Expenditures : |
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Cost of Goods Sold |
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46.675 |
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Administrative Expenses |
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4.435 |
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Interest |
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0.961 |
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Depreciation & Amortization |
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0.107 |
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Total Expenditure |
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52.178 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
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PAT / Total
Income |
(%) |
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4.20 |
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Net Profit Margin (PBT/Sales) |
(%) |
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6.61 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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15.24 |
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Return on Investment (ROI) (PBT/Networth) |
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0.41 |
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Debt Equity Ratio (Total Liability/Networth) |
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1.75 |
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Current Ratio (Current Asset/Current Liability) |
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1.64 |
LOCAL AGENCY FURTHER
INFORMATION
The concern is in trade terms
with :-
Local :
v
Lona Industries Limited
“Gharkul”, 82, Veer
Savarkar Marg, Shivaji Nagar, Dadar (West), Mumbai – 400 028
Tel.
No.91-22-24473738-41
Fax
No.91-22-24473745
v
Paradise Chemical Industries
Plot No.
129, Phase I, Neeka Tube Road, GIDC, Vatva, Ahmedabad – 382 445, Gujarat
Tel.
No.91-79-25831854
Fax
No.91-79-25831837
E-Mail paradise@icenet.net
v
Apex Dyestuffs &
Intermediates / Ankur Dyestuff Industries / Classic Colours
7, Ajanta
Commercial Centre, Second Floor, Ashram Road, Ahmedabad – 380 014, Gujarat
Tel.
No.91-79-27541070, 27540570
Fax
No.91-79-27543864
v
Aarviem Dyechem Industries
Private Limited / Vaibhav Dyechem Industries Private Limiteed
16/1253,
MHB Colony, Tata Power House, Borivli (East), Mumbai – 400 066
Tel.
No.91-22-28861070
Fax
No.91-22-28864647
v
Lotus Enterprises
409-410,
Lotus House, 33-A, New Marine Lines, Mumbai – 400 020
Tel.
No.91-22-22085155, 22085919
Fax
No.91-22-22087879
E-Mail lotusent@bom3.vsnl.net.in
v
Mr. A. Venkitachalam
Materials
Manager,
Asian
Paints Limited, Mumbai.
Tel. No.:
91-22-56958525
Fax:
91-22-56958805
Email: a.venkitachalam@asianpaints.com
v
Mr. Milind Varwerkar
General
Manager Commercial,
Cray
Valley Resins Inida Private Limited, Mumbai.
Tel. No.:
91-22-24934001
Fax:
91-22-24973856
Email: maheshwataney@nerolac.com
v
Mr. D. A. Bhagat
Materials
Manager,
Resins
and Plastics Limited, Mumbai.
Tel. No.:
91-22-28321671
Fax:
91-22-28217906
Email: dhansukh.bhagat@resplast.com
v
Mr. Bhaskar Saha
Akzo
Nobel Coatings India Private Limited
Hoskote,
Karnataka
Tel. No.:
91-80-27971305 / 27971601
Fax :
91-80-27971306
Email: bhaskar.saha@uk.akzonobel.com
v
Mr. Murlidhar Nair
Dy.
G.M.Purchase
Micro
Inks Limited, Vapi
Tel.:
91-260-2462811
Fax:
91-260-2463733
Email: murli.nair@microinks.com
Foreign :
v
Doosan Corporation
Electromaterials BG
Doosan
Tower, 18-12, 18F, Ulchu-Ro 6-KA, Chung-Ku, Seoul 100-730, South Korea
Tel.
No.91-82-02-3398-1970
Fax
No.91-82-02-3398-1979
E-Mail ispark@doosan.com
Contact-Mr.
I. S. Park
v
Kolon Industries Inc.
Kolon
Towers, 1-23, Byulyang-Dong, Kwacheon City, Kyunggi-Do, Korea
Tel.
No.91-82-02-3677-3945, +82-02-3677-3902
Fax
No.91-82-02-3677-3889, +82-02-3677-3696
E-Mail eun@kolon.com
Contact -
Mr. J. U. Eun
v
Sanwa Chemical (Singapore)
Pte Limited
31, Gul
Crescent, Singapore 629536
Tel.
No.91-65-68621721
Fax No.91-65-68623682
E-Mail masuzawa@sanwa-chemical.com.sg
Contact Mr. N. Masuzawa / Mr. Eric Ng
v
HT Cimatec GmbH
Post Box
1360, 67286, Kircheimbolanden, Germany
Tel.
No.91-49-6352-404-0
Fax
No.91-49-6352-404-115
E-Mail reinhard.freund@htcimatec.de
Contact -
Mr. Freund Reinhard
v
SIRPI s.r.l.
20122,
Milano, Corso Di Porta Romana 119, Italy
Tel.
No.91-39-02-55181191
Fax
No.91-39-02-55181580
E-Mail sirpi@planet.it
Contact -
Dr. Manuel Hassan
v
PT Damar Murni Indah
Jl. Raya Serand KM 12, DS. Bunder,
KP. Kadu No. 48, Tangerang, Indonesia
Tel.
No.91-62-21-5960102
Fax
No.91-62-21-5960095
E-Mail damar@dnet.net.id
Contact -
Ms. Omey
v
Scott Bader Exports Limited
Wollaston,
Wellingborough, Northamptonshire NN9 7RL, U.K.
Tel.
No.91-44-1933-663100
Fax
No.91-44-1933-663474
E-Mail tony_Phillips@scottbader.com
Contact-Mr.
Tony Phillips
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.39.92 |
|
UK Pound |
1 |
Rs.79.31 |
|
Euro |
1 |
Rs.60.63 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
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 |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
|
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
|
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 |
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