MIRA
INFORM REPORT
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Report Date : |
02.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
INDUSTRIAL RUBBER PRODUCTS |
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Registered Office : |
107 - D, Kaleeswara Mill Road, Kattoor, Coimbatore, Tamilnadu |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1990 |
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Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners. |
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Line of Business : |
Manufacturers and Exporters of Industrial Rubber Products. |
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 10000 |
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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 having satisfactory
track. Trade relations are fair. Business is active. Payments are reported as
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 : |
Mr. Suriya Murthy |
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Designation : |
Partner |
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Contact No.: |
91-9367610958 |
LOCATIONS
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Registered Office : |
107 - D, Kaleeswara Mill Road, Kattoor, Coimbatore - 641025,
Tamilnadu, India. |
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Tel. No.: |
91-422-2234320 |
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Mobile No.: |
91-9367610958 |
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Fax No.: |
91-422-2402033 |
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E-Mail : |
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Website : |
http:// www.irpc.co.in
http:// www.indiamart.com/irpc
http:// www.trusteal.org/members/irpc
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Factory : |
43, Thadagapalayam, Edayarpalayam, Coimbatore – 641025, Tamilnadu, India. |
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Tel. No.: |
91-422-2405948 |
PARTNERS
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Name : |
Mr. Suriya Murthy |
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Designation : |
Partner |
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Name : |
Mrs. Meena Suriya Murthy |
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Designation : |
Partner |
BUSINESS DETAILS
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Line of Business : |
Manufacturers and Exporters of Industrial Rubber Products. |
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Products : |
v ‘O” Rings v Oil Seals v Diaphragms v Densviyer
Sillicon Gasket v Telecom Rubber
Boots v Rubber Seals v Hydrogen Coolant
Gaskets v Rubber To Metal
Bonded Components v Bellows v Butterfly Valve Rubber
Sleevs / Liners v Rubber Bushes v Neoprene Sponge
Extrusions v Rubber Bulb v Extrusion
Profiles v Engine / General
Mountings v Spider Coupling
Bushes v Polyurethane
Seals v CNG Kit
Diaphragm |
GENERAL
INFORMATION
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No. of Employees : |
15 |
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Bankers : |
State Bank of India, City Branch, Coimbatore |
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Banking
Relations : |
Satisfactory |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 2.500 millions |
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Borrowed : |
-- |
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Total : |
Rs. 2.500 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
31.03.2007 |
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Sales Turnover |
5.000 |
LOCAL AGENCY
FURTHER INFORMATION
Table
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Parameters |
Detail |
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Existence Verification |
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Name |
Industrial Rubber Products |
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Address |
107 – D, Kaleeswara Mill Road, Coimbatore -
641009 |
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Phone / Mobile Numbers |
91-422-2234320 91-422-2402033 |
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Fax Numbers |
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Statutory Approvals |
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Legal Status Of Firm |
Partnership Firm |
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Income Tax Registration |
AAIFM 7596 F and AJHPM 6580 H 968630 See vat |
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Central Sales Tax Registration |
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State Sales Tax Registration |
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Service Tax Registration |
NO |
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VAT/TIN Registration |
33362143060 |
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Excise Registration |
NO |
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Import Export Code |
3204005984 |
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Name of Bank |
SBI, City Br, Coimbatore |
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Emp PF Reg Number |
NO |
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Company ESI Reg Number |
NO |
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Credibility Factors |
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Years Of Establishment |
1990 |
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Trade Affiliations |
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SSI Registration |
YES |
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Export Promotion Council |
YES |
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Chambers of Commerce Membership |
NO |
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D & B D-U-N-S Number |
NO |
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Govt. Recognised Export House Status |
NO |
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Other Affiliations |
NIL |
Profile
Subject was established in 1990 by Mr. Suriya
Murthy, a far-sighted entrepreneur. He aspired to set a benchmark for
excellent rubber products and to serve the increasingly escalating requirements
of this industry. His resolute efforts have made Industrial Rubber Products one
of the most consistent and skilled rubber components companies in the world.
Their splendid production facility and some of the finest talents in the
industry who operate it are their invaluable assets. Their objective is at all
times meeting or exceeding the clients’ expectations and every member of their
team shares this vision.
Coimbatore is hailed as the “The Heart of all Manufacturing Sectors “.
Hence, the location in this industrial city makes it ideal for this industry.
The factory is wholly equipped with the latest hydraulic machines and all other
machines essential for producing quality rubber products.
Infrastructure
Their outstanding growth has been fuelled by their superlative
production facilities, right from the time of the launch. They are strongly
dedicated to investing in the most modern technology. They also have faith in
persistent upgrading of know-how and manufacturing amenities, keeping in tune
with the up-to-the-minute trends in the industry.
All their advanced
facilities are manned by a team of vastly enthusiastic and capable
professionals. They ensure that the premier standards of quality are upheld,
throughout all the stages of production.
The superior facilities always guarantee prompt delivery schedules.
The customer-focused approach combined with the methodical modus operandi has
been propelling the magnificent progress.
Subject is one of the foremost manufacturers
of exceptional quality rubber products at affordable prices from India.
Today their products have found their way to
various countries including Oman in the Gulf, UK, Greece and other countries in
Europe, USA, Canada, West Indies, New Zealand, and China etc. They meet the
demand for high quality rubber products that are required by today’s rapid
industrialization. Their Products have their applications in Automobile,
Textile, Petroleum Refinery, Power Generation, Mining, Hydraulics, Sugar,
Aerospace and other engineering industries.
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 :
The 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.
The 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. 40.65 |
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UK Pound |
1 |
Rs. 80.35 |
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Euro |
1 |
Rs. 62.78 |
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 |
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 |
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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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, they have no basis upon which to
recommend credit dealings |
No Rating |
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