MIRA
INFORM REPORT
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Report Date : |
28.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
JUKI MACHINERY [INDIA] PRIVATE LIMITED [A wholly owned subsidiary of Juki Singapore Pte. Limited] |
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Registered Office : |
A-215/B, Okhla Industrial Area, Phase I, New Delhi 110020 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
16.10.2000 |
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Com. Reg. No.: |
55-108189 |
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CIN No.: [Company
Identification No.] |
U31909DL2000PTC108189 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELJ03330F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Industrial Sewing Machines, Sewing Machine Spare Parts, Training,
Consultancy and Service Charges |
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 29000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a part of Juki Corporation, Japan, a well established and
reputed industrial sewing machine management Trade relations are fair. Financial position is satisfactory. Payments are correct and as per
commitments. The Company can be considered good for any normal business dealings at
usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
A-215/B, Okhla Industrial Area, Phase I, New Delhi 110020, India |
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Tel. No.: |
91-11-26816097 / 62746381 / 61246125 |
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Fax No.: |
91-11-26819273 |
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E-Mail : |
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Website : |
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Head Office : |
3rd Floor, Leo Shopping Complex, 45/1 Residency Road Cross, Bangalore
560025, India |
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Tel. No.: |
91-80-25325015/25325016 |
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Fax No.: |
91-80-25323057 |
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E-Mail : |
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Branches : |
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Chennai AC-31 (Old No.) Lot 49/39, 4th Street, Anna
Nagar, Chennai 600040, India Tel :
91-44-42170442 Fax : 91-44-42170781 Email : jukiche@jukiindia.com
Kolkata 100-B, Ground floor, Karaya Road, Opposite Police Station Karaya Telefax : 033-30527356 Email : jukical@jukiindia.com
Tirupur Office Sri Muthu Plaza, No. 320, Avinashi Road, Tirupur
641603, India Tel : 91-421-4337723/4246743/4241903 Fax : 91-421-4246716 Email : jukitpr@jukiindia.com
Ahmedabad 8 , ’ Paurav ’ , 9/A , Swastik Society , S.B.S. Lane, Nr. Stadium
Circle, Off. C .G .Road , Navrangpura, Ahmedabad-380 009, India. Tele / Fax : 91-79-26560036 E-mail : jukiahm@jukiindia.com
Ludhiana Office 23-A, 1st Floor, Shastri Nagar,Model Town,
Ludhiana-141002,Punjab. Tel : 91-161-2453802 Fax : 91-161-5084265 Email : jukildh@jukiindia.com
New Delhi Office A-215/B, Okhla Industrial Area Phase-1, New Delhi
110020, India Tel : 91-11-28616097 / 9274,6381,6124 / 5 Fax : 91-11-26819273 Email : jukidel@jukiindia.com
Mumbai Office Unit No.305, 'Acropolis' Military Road, Marol Andheri (East) Mumbai
400059, India Tel : 91-22- 66681925/ 67102365 Fax : 91-22-66681926 Email : mailto:jukibby@jukiindia.com
Cochin Office F1, 2nd floor, Palathingal Chambers, 34/2408, National High Way,
Edapally, Cochin, Kerala – 682024. Tel. : 0484 - 4014780, Fax : 0484 – 4052801, E-mail : jukicoh@jukiindia.com
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DIRECTORS
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Name : |
Mr. Noriaki Saito |
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Designation : |
Director |
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Address : |
Flat No. A-3, GF, Charter Gruha, Ssaye Road, Ulsoor, Bangalore 560042,
Karnataka, India |
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Date of Birth/Age : |
29.09.1957 |
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Date of Appointment : |
25.07.2005 |
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Name : |
Mr. Toshiyuki Yamanaka |
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Designation : |
Director |
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Address : |
C – 11, 1st floor, Chirag Enclave, New Delhi 110048, India |
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Date of Birth/Age : |
02.05.1963 |
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Date of Appointment : |
25.07.2005 |
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Name : |
Mr. Yoshiharu Takeuchi |
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Designation : |
Director |
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Address : |
263, River Valley Road, 06-20, Aspen Heights, Singapore 238309 |
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Date of Birth/Age : |
26.01.1962 |
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Date of Appointment : |
16.10.2000 |
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Name : |
Masahiro Oba |
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Designation : |
Director |
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Address : |
41, GF Paschim Marg, Vasant Vihar, New Delhi 110057, India |
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Date of Birth/Age : |
17.07.1956 |
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Date of Appointment : |
22.02.2001 |
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Name : |
Mr. Hari Kumar |
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Designation : |
Director |
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Address : |
B – 201, Century Park, No. 48, Richmond Road, Bangalore 560025,
Karnataka, India |
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Date of Birth/Age : |
25.07.1957 |
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Date of Appointment : |
01.03.2002 |
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Name : |
Mr. Susmum Matsuda |
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Designation : |
Director |
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Address : |
22, Newton Road, Singapore 307990 |
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Date of Birth/Age : |
16.09.1950 |
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Date of Appointment : |
10.06.2004 |
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Name : |
Mr. N. Hariharan |
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Designation : |
Director |
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Address : |
Flat No. 14, Karthik Apartments, Sector 21/C, Faridabad 121001 |
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Date of Appointment : |
16.10.2000 |
KEY EXECUTIVES
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Name : |
PS and Associates |
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Designation : |
Company Secretary |
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Address : |
130, Masjid Moth, South Extension II, New Delhi 110049, India |
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Tel. No.: |
91-11-4601399 |
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Mobile No.: |
91-9810264956 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
[As on 31.03.2007]
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Names of Shareholders |
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No. of Shares |
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Juki Singapore Pte. Limited |
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441640 |
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Noriaki Saito |
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10 |
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Toshiyuki Yamanaka |
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10 |
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Total |
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441660 |
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Equity Share
Break-up [As on 31.03.2007] |
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Percentage of
Holding |
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Foreign Holdings |
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99.99 |
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Directors or relatives of the Directors |
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0.01 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Industrial Sewing Machines, Sewing Machine Spare Parts, Training,
Consultancy and Service Charges |
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Products : |
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GENERAL
INFORMATION
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No. of Employees : |
90 |
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Bankers : |
Not available |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Chartered Accountants Address: 706, Akash Deep, 26-A, Barakhamba Road, New Delhi 110001,
India
Chartered Accountants Address: 706, Akash Dep, 26-A, Barakhamba Road, New Delhi 110001,
India |
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Holding Company: |
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CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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1000000 |
Equity Shares |
Rs. 10/- each |
Rs. 10.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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441660 |
Equity Shares |
Rs. 10/-
each |
Rs. 4.416
Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
4.416 |
4.416 |
4.417 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
2.912 |
3.114 |
0.469 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
7.328 |
7.530 |
4.886 |
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LOAN FUNDS |
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1] Secured Loans |
1.727 |
1.162 |
0.000 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
1.727 |
1.162 |
0.000 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.015 |
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TOTAL |
9.055 |
8.692 |
4.901 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
6.229 |
3.729 |
0.549 |
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Capital work-in-progress |
0.000
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0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.210 |
0.040 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
27.392
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9.033 |
6.778 |
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Sundry Debtors |
8.230
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6.529 |
2.834 |
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Cash & Bank Balances |
4.495
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3.405 |
6.583 |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
7.078
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3.548 |
0.159 |
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Total
Current Assets |
47.195
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22.515 |
16.354 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
42.851
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16.539 |
11.702 |
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Provisions |
1.728
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1.053 |
0.300 |
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Total
Current Liabilities |
44.579
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17.592 |
12.002 |
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Net Current Assets |
2.616
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4.923 |
4.352 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
9.055 |
8.692 |
4.901 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Total Income |
90.536 |
42.732 |
28.716 |
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Profit/(Loss) Before Tax |
0.347 |
3.342 |
0.614 |
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Provision for Taxation |
0.550 |
0.696 |
0.246 |
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Profit/(Loss) After Tax |
[0.203] |
2.646 |
0.368 |
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Earnings in Foreign Currency : |
30.135 |
15.302 |
0.619 |
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Total Imports |
21.775 |
19.422 |
17.778 |
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Expenditures : |
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Depreciation & Amortization |
1.239 |
0.786 |
0.212 |
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Other Expenditure |
88.950 |
38.604 |
27.890 |
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Total Expenditure |
90.189 |
39.390 |
28.102 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total
Income |
(%) |
[0.22]
|
6.19 |
1.28 |
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Net Profit Margin (PBT/Sales) |
(%) |
0.38
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7.82 |
2.13 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
0.64
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12.73 |
3.63 |
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Return on Investment (ROI) (PBT/Networth) |
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0.04
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0.44 |
0.12 |
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Debt Equity Ratio (Total Liability/Networth) |
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6.31
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2.49 |
2.45 |
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Current Ratio (Current Asset/Current Liability) |
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1.05
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1.27 |
1.36 |
LOCAL AGENCY
FURTHER INFORMATION
NA
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
|
Currency |
Unit
|
Indian Rupees |
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US Dollar |
1 |
Rs. 40.15 |
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UK Pound |
1 |
Rs. 80.54 |
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Euro |
1 |
Rs. 63.41 |
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 |
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 |
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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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 |
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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 |
|
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 |
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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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