MIRA
INFORM REPORT
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Report Date : |
16.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
TAURUS ESDAN HYDRAULICS PRIVATE LIMITED |
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Registered Office : |
63-C, 2nd Phase, Industrial Area, PS Adityapur, District
East Singhbhum, Jamshedpur – 832109, Jharkhand |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
02.07.1996 |
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Com. Reg. No.: |
03-7348 |
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CIN No.: [Company
Identification No.] |
U00359JH1996PTC007348 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
RCHT00102E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Polyamide, Polyurethane, HDPE, Tubing and Hoses |
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 103892 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established company having satisfactory track. Financial position is moderate. Profit margin is under severe pressure. Payments are reported as slow but correct. The concern can be considered normal for business dealings at usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
63-C, 2nd Phase, Industrial Area, PS Adityapur, District
East Singhbhum, Jamshedpur – 832109, Jharkhand, India |
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Tel. No.: |
91-657-2200865/2200744/ 2200865 |
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Fax No.: |
91-657-2225485 |
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E-Mail : |
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Website : |
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Area : |
20000 sq. ft. |
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Location : |
Leased Industrial |
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Factory : |
C-2/3, Phase I, Industrial Area, Adityapur, Jamshedpur – 832109, Jharkhand, India |
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Tel. No.: |
91-657-2200455 |
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Branches : |
44, Ramdulal Sarkar Street, Kolkata - 700 006, West Bengal, India |
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Tel. No.: |
91-33-22417779 / 7780 |
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Fax No.: |
91-33-22417779 |
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Email : |
DIRECTORS
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Name : |
Mr. Rishi Kshettry |
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Designation : |
Director |
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Address : |
23, Circuit House Area, Jamshedpur |
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Date of Birth/Age : |
24.09.1973 |
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Date of Appointment : |
11.11.1999 |
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Other Directorship : |
Taudan Auto Components Private Limited |
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Name : |
Mr. Ravi Kshettry |
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Designation : |
Director |
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Date of Birth/Age : |
29.11.1940 |
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Date of Appointment : |
02.07.1996 |
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Name : |
Mr. Bhuvan Kshettry |
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Designation : |
Director |
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Date of Birth/Age : |
25.12.1967 |
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Date of Appointment : |
02.07.1996 |
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Name : |
Mr. Gautam Kshettry |
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Designation : |
Director |
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Date of Birth/Age : |
28.08.1946 |
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Date of Appointment : |
01.12.1999 |
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Name : |
Mr. Bert Ekenaike |
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Designation : |
Director |
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Date of Birth/Age : |
04.07.1946 |
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Date of Appointment : |
01.12.1999 |
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Name : |
Mr. Ian Williamson |
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Designation : |
Director |
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Date of Birth/Age : |
13.12.1940 |
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Date of Appointment : |
01.12.1999 |
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Name : |
Mr. Emmanuel Elizondo |
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Designation : |
Director |
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Date of Birth/Age : |
19.12.1955 |
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Date of Appointment : |
01.12.1999 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 31.03.2007)
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Category |
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Percentage |
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Directors or relatives of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Polyamide, Polyurethane, HDPE, Tubing and Hoses |
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Products : |
· Polyamide · Polyurethane · HDPE · Tubing · Hoses · Nylon Tubes |
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Brand Names : |
‘TAURUS ESDAN’ |
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Agencies Held : |
Exim India |
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Exports : |
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Countries : |
· Australia · America · United Kingdom |
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Imports : |
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Countries : |
· Atofina · France · EMS Chemi · Switzerland |
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Terms : |
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Selling : |
L/C, Cash and Credit |
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Purchasing : |
L/C, Cash and Credit |
GENERAL
INFORMATION
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Suppliers : |
· Agiplast · Alcalab · Amit Enterprises · Arkema · Bharat Petroleum Traders · Bright Auto Industrial · Sona Engineering Products · Control Print India Limited · Dean System · Elasto-Tech Industrial · Esdan Plastics Private Limited · Exim India Trade Agencies · Firs Flight Courier Limited · Taudan Auto Components Limited · Legris Connectic · Maritime Logistics private Limited · Mahommad Kalim · Pravash · Sainik Filling Station · Shalimar Transport incorporation · S P Enterprises · Steel City Metal Products Private Limited · Taurus Thermoplastic · V S Industries · Zen Engineers. |
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Customers : |
Manufacturers, Wholesalers, Government Bodies · BMC Sanyi Ve Ticaret A S · Esdan Plastic Private Limited · KTK germany GmbH · Little Flower Trading LLC · Raufoss Automotive Couplings · Samco Aotutechnik Gmbh · Summit International FZE · Tata International Limited · Technical Plastics of Oregon · Universal Component UK Limited |
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No. of Employees : |
20 |
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Bankers : |
· Union Bank of India SSI Branch, Bishtupur, Bihar – 831001, Jamshedpur, India |
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Banking
Relations : |
Unknown |
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Auditors : |
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Name : |
P. S. Banerjee and Associates Chartered Accountants |
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Address : |
146, Sonari West Layout, Road No.D, Jamshedpur-831011,
Jharkhand, India |
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Associates/Subsidiaries : |
· R R Polymers · Taurian Tubes · Taudan Auto Components Private Limited · Taurus Flexibles · Tauryan Tubes and Hoses |
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Parent Company: |
A Taurus Group Company |
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 |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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800000 |
Equity Shares |
Rs.10/- each |
Rs.8.000
Millions |
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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 |
8.000 |
8.000 |
8.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
17.973 |
10.229 |
8.334 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
25.973 |
18.229 |
16.334 |
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LOAN FUNDS |
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1] Secured Loans |
55.842 |
27.914 |
32.972 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.525 |
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TOTAL BORROWING |
55.842 |
27.914 |
33.497 |
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DEFERRED TAX LIABILITIES |
0.810 |
0.629 |
0.404 |
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TOTAL |
82.625 |
46.772 |
50.235 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
16.829 |
17.476 |
15.441 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
30.976
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15.710 |
8.232 |
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Sundry Debtors |
33.922
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18.888 |
35.430 |
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Cash & Bank Balances |
0.085
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0.006 |
0.411 |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
20.973
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7.597 |
3.863 |
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Total
Current Assets |
85.956
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42.201 |
47.936 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
19.431
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12.905 |
12.742 |
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Provisions |
0.727
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0.000 |
0.400 |
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Total
Current Liabilities |
20.158
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12.905 |
13.142 |
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Net Current Assets |
65.798
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29.296 |
34.794 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
82.625 |
46.772 |
50.235 |
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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 |
146.856 |
94.709 |
101.712 |
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Other Income |
0.024 |
0.601 |
0.584 |
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Total Income |
146.880 |
95.310 |
102.296 |
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Profit/(Loss) Before Tax |
8.701 |
5.063 |
5.446 |
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Provision for Taxation |
0.957 |
0.913 |
0.804 |
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Profit/(Loss) After Tax |
7.744 |
4.150 |
4.642 |
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Expenditures : |
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Financial Charges |
0.000 |
1.570 |
1.072 |
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Depreciation |
0.974 |
0.944 |
0.865 |
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Other Expenditure |
137.205 |
87.733 |
94.913 |
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Total Expenditure |
138.179 |
90.247 |
96.850 |
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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 |
(%) |
5.27
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4.35 |
4.54 |
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Net Profit Margin (PBT/Sales) |
(%) |
5.92
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5.34 |
5.35 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
8.46
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8.48 |
8.59 |
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Return on Investment (ROI) (PBT/Networth) |
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0.33
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2.78 |
0.33 |
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Debt Equity Ratio (Total Liability/Networth) |
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2.93
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2.24 |
2.86 |
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Current Ratio (Current Asset/Current Liability) |
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4.26
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3.27 |
3.65 |
LOCAL AGENCY
FURTHER INFORMATION
Corporate Profile:
Innovative design, in-built quality and customer care are significant reasons for the continued growth of company. At every stage of manufacture strict quality controls are applied in accordance with ISO 9002. To complement this they provide design support to their customers worldwide. They offer the highest level of technical advice for both product selection and application, giving the most cost effective hose solution.
Comprehensive in-house testing facilities are available to their customers. They include Hydrostatic, impulse, Aging, cold flexibility and Tensile Testing.
Engineered safety and the dedicated approach to continuous improvement have contributed to the successful development of one of the most comprehensive ranges of Rubber hose found anywhere in the world.
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.42.40 |
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UK Pound |
1 |
Rs.82.57 |
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Euro |
1 |
Rs.65.84 |
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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