MIRA
INFORM REPORT
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Report Date : |
13.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
SYNTAUS AND COLLOIDS |
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Registered Office : |
4/5, N V Mills Bunglow, 14/1, Civil Lines, Kanpur – 208 001, Uttar
Pradesh |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
2002 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
KNPS02911G |
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PAN No.: [Permanent
Account No.] |
ABGFS6240R |
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Legal Form : |
Partnership Concern with an unlimited liability of the partners. |
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Line of Business : |
Manufacturer and Exporter of Syntaus and Colloids. |
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 28000 |
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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. Partners are
reported as experienced and respectable businessmen. Trade relations are
fair. Business is active. 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 : |
Mr. S. K. Misra |
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Designation : |
Export Manager |
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Date : |
22.04.2008 |
LOCATIONS
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Registered Office : |
4/5, N V Mills Bunglow, 14/1, Civil Lines, Kanpur – 208 001, Uttar
Pradesh, India |
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Tel. No.: |
91-512-2530992/ 2533747 |
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Mobile No.: |
91-9336852854 |
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Fax No.: |
91-512-2532504 |
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E-Mail : |
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Website : |
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Area : |
1000 sq. meters |
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Location : |
Owned |
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Factory 1 : |
4/5, N V Mills Bunglow, 14/1, Civil Lines, Kanpur – 208 001, Uttar
Pradesh, India |
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Tel. No.: |
91-512-2530992/ 2533747 |
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Mobile No.: |
91-9336852854 |
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Fax No.: |
91-512-2532504 |
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E-Mail : |
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Area : |
1200 sq. ft. |
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Location : |
Owned |
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Factory 2 : |
C-18, Udyog Kunj, Site
# 5, Panki Indl. Estate, Kanpur – 208 022, Uttar Pradesh, India |
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Tel. No.: |
91-512-2533747/ 2234670 |
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Fax No.: |
91-512-2532504/ 2234669 |
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E-Mail : |
PARTNERS
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Name : |
Mr. B. S. Tyagi |
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Designation : |
Partner |
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Date of Birth/Age : |
65 Years |
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Qualification : |
Graduate |
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Experience : |
26 Years |
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Name : |
Mr. Shishank Tyagi |
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Designation : |
Partner |
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Date of Birth/Age : |
22 Years |
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Qualification : |
Graduate |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Syntaus and Colloids. |
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Products : |
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Exports : |
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Products : |
Syntaus and Colloids. |
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Countries : |
China, Pakistan, Nepal |
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Terms : |
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Selling : |
L/C, Cash and Credit basis |
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Purchasing : |
L/C, Cash and Credit at sight basis |
GENERAL
INFORMATION
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Customers : |
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No. of Employees : |
Around 63 (Office – 8 and Factory – 55) |
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Bankers : |
State Bank of India, Sarvodya Nagar, Kanpur, Uttar Pradesh, India |
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Facilities : |
Concern enjoys some facilities of Rs. 5.000 millions from it babnkes. |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Prashant Rastogi and Associates |
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Address : |
Kanpur, Uttar Pradesh, India |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 7.000 millions |
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Borrowed : |
Nil |
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Total : |
Rs. 7.000 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
31.03.2008 |
31.03.2007 |
31.03.2006 |
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Sales Turnover |
35.000 |
29.500 |
28.900 |
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Profit/Loss for the year |
2.000 |
1.900 |
1.750 |
LOCAL AGENCY
FURTHER INFORMATION
Trade References:
- Lijnton,
China
- Naiam
International, Pakistan
AS PER WEB:
Profile
Subject is a team of dedicated technologists and professional
management. Keeping in view that there is a huge demand of Leather Chemicals not only in India but overseas as
well, and in order to provide good quality products in comparison with any of
the multinational companies in this field, they started to provide wide range
of products from Wet End to Finishing End chemicals for the leather industries.
They established their production unit comprising with many ultra modern
sophisticated machines like Spray
Dried Plant for the Synthetic Tanning Agent
in Kanpur (India) – the city where a large number of tanneries are already
producing good quality of leather.
They have their own R & D
Lab, where a
dedicated team is working on the latest developments & trends to serve
their customers as per the internationals standards. The credit may go to their
R & D team to produce first time in India a new "FF"
series of organic synthetic tanning agent with "zero formaldehyde". It
has been tested by a test house of international repute. To diversify their
products, they are manufacturing wide range of Textile Chemicals too.
They are serving the industries through their Distributors' Network, that are
spread through out the country where leather manufacturing is one of the major industrial
segments. Their sales/ marketing team is followed by well qualified and
experienced persons who are always ready to provide technical services at the
floor of the customers. It has not less than an achievement that they are
exporting their quality products to their overseas costumers.
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is or
was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair and
reasonable and comparable to compensation paid to others for similar services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE
GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.41.68 |
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UK Pound |
1 |
Rs.81.23 |
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Euro |
1 |
Rs.64.13 |
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 |
YES |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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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, we have no basis upon which to
recommend credit dealings |
No Rating |
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