MIRA
INFORM REPORT
|
Report Date : |
12.05.2008 |
IDENTIFICATION
DETAILS
|
Name : |
SEAZER HYDRAULICS PRIVATE LIMITED |
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Registered Office : |
3284, Nangla Road, Jawahar Colony, Faridabad – 121105, Haryana |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
26.06.1992 |
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Com. Reg. No.: |
031712 |
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CIN No.: [Company
Identification No.] |
U02730HR1992PTC031712 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
RTKS05329C |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Die Casting, Machines, Rotor Casting. |
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 9024 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and reputed Company having Satisfactory
track. Company Profitability is under severe Pressure. Trade relations are fair.
Business is active. Payments are reported as Slow but Correct. The Company can be considered for business dealings at usual trade
terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. R B Singh |
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Designation : |
Director |
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Contact No.: |
91- 9810062540 |
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Name : |
Mr. Man Singh |
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Designation : |
Account Manager |
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Contact No.: |
91-9212262717 |
LOCATIONS
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Registered Office : |
3284, Nangla Road, Jawahar Colony, Faridabad – 121105, Haryana, India |
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Tel. No.: |
91-129-2474929 |
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Mobile No.: |
91-9810062540, 9911110011 |
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E-Mail : |
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Website : |
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Location : |
Rented |
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Factory : |
B2, B3, 23/7, Mile Stone, Mathura
Road, JCB India Limited, Balbhgarh, Faridabad, Haryana, India |
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Tel. No.: |
91-4012540 |
DIRECTORS
|
Name : |
Mr. Rajbir Singh |
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Designation : |
Director |
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Address : |
Karam Yogi Bhawan, Nangla Road, Jawahar Colony, Faridabad – 121105,
Haryana, India. |
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Date of Birth/Age : |
05.04.1950 |
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Qualifications : |
B.Sc |
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Date of Appointment : |
26.06.1992 |
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Name : |
Mr. Subhash Chand |
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Designation : |
Director |
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Address : |
Karam Yogi Bhawan, Nangla Road, Jawahar Colony, Faridabad – 121105,
Haryana, India. |
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Date of Birth/Age : |
17.10.1959 |
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Date of Appointment : |
26.06.1992 |
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Name : |
Mrs. Sukhwati Devi Singh |
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Designation : |
Director |
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Address : |
3284, Rajbir Singh, Nangla Road, Jawahar Colony, Faridabad – 121105,
Haryana, India. |
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Date of Birth/Age : |
18.07.1955 |
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Qualifications: |
SSC |
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Date of Appointment : |
26.06.1992 |
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Name : |
Mrs. Monika Tewatia |
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Designation : |
Director |
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Address : |
House No. 717, Sector – 17, Faridabad – 121105, Haryana, India. |
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Date of Birth/Age : |
01.06.1979 |
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Date of Appointment : |
17.05.2004 |
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Name : |
Mr. Vijay Raj Tewatia |
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Designation : |
Director |
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Age : |
26 Years |
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Qualifications: |
Graduate |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 30.09.2006
|
Names of Shareholders |
No. of Shares |
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Mr. Rajbir Singh |
350 |
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Mrs. Sukhwati Devi |
350 |
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Mr. Subhash Chand |
280 |
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Mr. Shiv Singh |
1170 |
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Mr. Amar Singh |
180 |
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Mr. Sumer Singh |
180 |
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Mr. Hari Prakash |
250 |
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Mr. Vijay Kumar |
250 |
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Mr. Ram Bhooli |
990 |
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Mr. Vijendra |
180 |
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Mr. Sanjiv Kumar |
180 |
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Mr. Hari Prasad |
999 |
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Mr. Gulab Singh |
360 |
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Mr. Jagbeer Singh |
360 |
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Mr. Udaiveer |
360 |
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Mr. Satya Prakash |
360 |
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Mrs. Monika Tewatia |
900 |
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Mr. Man Singh |
600 |
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Mr. Puran Lal |
380 |
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Mr. Khem Chand |
380 |
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Mrs. Meenu Mangla |
500 |
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Mr. Hukam Singh |
500 |
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Mr. Kanwar Pal |
190 |
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Mrs. Radha Devi |
2000 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Die Casting, Machines, Rotor Casting. |
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Products : |
v Casting Machines v Die Casting
Medium Rotors v Alloy Die
Casting Machines v Vertical Alloy Die
Casting Machines v Horizontal Rotor
Casting Machines v Vertical Rotor
Casting Machines v Body Sheet Alloy
Die Casting Machines v Body Sheet Alloy
Die Casting Machines v Auto Ladler for
Vertical / Horizontal Casting v Nitrogen Gas
Chargers v Casted Rotors
(Horizontal) |
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Terms : |
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Selling : |
Against Delivery |
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Purchasing : |
Against Cheque |
GENERAL
INFORMATION
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Suppliers : |
v Andee
Engineering v Welcome
Technickes v P K Engineering
Works v Suruchi Alloys
Private Limited |
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Customers : |
v Electric Motors,
Manufacturers v Electric
Stamping Lamination, Manufacturers v Total
Automobiles Company v Lancelot Furnace v Tegaso Motions v Tegaso Motions v Jupiter Tools |
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No. of Employees : |
100 |
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Bankers : |
Union Bank of India, Main Branch, Neelam Bata Road, Faridabad |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
v Mr. Sunil Kumar
Jain, Chartered Accountants House No. 1278, Sector – 29, Faridabad – 121003, Haryana, India. v Samson and
Associates, Chartered Accountant Faridabad |
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Sister Concerns : |
v Survival Die
Casting Private Limited 3284, Rajbir Singh, Nangla Road, Jawahar
Colony, Faridabad – 121105, Haryana, India. v Select Us
Metallic Company 35 / 37, Nangla Road, Faridabad – 121105,
Haryana, India |
CAPITAL STRUCTURE
As on 29.09.2007
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
50,000 |
Equity Shares |
Rs. 100/- Each |
Rs. 5.000 millions |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
39,350 |
Equity Shares |
Rs. 100/- Each |
Rs. 3.935
millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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2.329 |
1.495 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
|
0.000 |
0.000 |
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4] (Accumulated Losses) |
|
(0.073) |
(0.041) |
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NETWORTH |
|
2.256 |
1.454 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
0.000 |
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2] Unsecured Loans |
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0.000 |
0.000 |
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TOTAL BORROWING |
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0.000 |
0.000 |
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DEFERRED TAX LIABILITIES |
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0.044 |
0.044 |
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TOTAL |
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2.300 |
1.498 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.906 |
0.433 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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0.000 |
0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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1.268 |
0.046 |
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Sundry Debtors |
|
0.485 |
1.074 |
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Cash & Bank Balances |
|
0.288 |
0.049 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
|
0.088 |
0.054 |
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Total
Current Assets |
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2.129 |
1.223 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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0.737 |
0.160 |
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Provisions |
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0.000 |
0.000 |
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Total
Current Liabilities |
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0.737 |
0.160 |
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Net Current Assets |
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1.392 |
1.063 |
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MISCELLANEOUS EXPENSES |
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0.002 |
0.002 |
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TOTAL |
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2.300 |
1.498 |
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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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Sales Turnover |
3.850 |
0.500 |
0.654 |
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Closing Stock WIP |
1.141 |
1.269 |
0.000 |
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Total Income |
4.991 |
1.769 |
0.654 |
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Profit/(Loss) Before Tax |
(0.009) |
(0.030) |
(0.011) |
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Provision for Taxation |
0.012 |
0.001 |
0.015 |
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Profit/(Loss) After Tax |
(0.021) |
(0.031) |
(0.026) |
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Expenditures : |
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Depreciation & Amortization |
0.240 |
0.087 |
0.072 |
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Other Expenditure |
4.760 |
1.712 |
0.593 |
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Total Expenditure |
5.000 |
1.799 |
0.665 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
(0.42)
|
(1.75) |
(3.98) |
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Net Profit Margin (PBT/Sales) |
(%) |
(0.23)
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(6.00) |
(1.68) |
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Return on Total Assets (PBT/Total Assets} |
(%) |
(0.18)
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(1.69) |
(1.68) |
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Return on Investment (ROI) (PBT/Networth) |
|
--
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(0.01) |
(0.01) |
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Debt Equity Ratio (Total Liability/Networth) |
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--
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0.33 |
0.11 |
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Current Ratio (Current Asset/Current Liability) |
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--
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2.89 |
7.64 |
LOCAL AGENCY
FURTHER INFORMATION
Table
|
Parameters |
Details |
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Statutory
Approvals |
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Income Tax Registration PAN |
AAICS2951B |
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Central Sales Tax Registration |
TIN No |
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State Sales Tax Registration |
TIN No |
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TIN Registration |
06221321362 |
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Name Of Bank |
Union Bank of India |
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Current Account Number |
29445 |
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Account Since |
10 Years |
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Company ESI Reg. Number |
13/39669 |
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Credibility
Factors |
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India Mart Client Since |
3 Years |
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Trade
Affiliations |
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SSI Registration |
No |
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Export Promotion Council |
No |
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Chambers of Commerce Membership |
No |
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Standards and
Certifications |
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Quality Management Systems |
Yes |
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Environment Management Systems |
Yes |
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Safety Certificates |
Yes |
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Product Certificates |
Yes |
Trade References
v Precisions Stamping, Faridabad
v G Motor India Private Limited, Faridabad
v P R G International, Delhi
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 41.38 |
|
UK Pound |
1 |
Rs. 80.76 |
|
Euro |
1 |
Rs. 63.89 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
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FINANCIAL CONDITION |
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|
--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
3 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
4 |
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--CREDIT LINES |
1~10 |
4 |
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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 |
|
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 |
|
TOTAL |
|
43 |
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, they have no basis upon which to
recommend credit dealings |
No Rating |
|