MIRA
INFORM REPORT
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Report Date : |
20.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
S AMIT AND COMPANY |
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Registered Office : |
101-A, Neelam Centre, 249-B, Hind Cycle Road, Worli, Mumbai – 400030, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of establishment : |
1948 |
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Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners |
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Line of Business : |
The concern acts as on Indenting Agent. |
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 4000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Mr. B. R. Shah, Chief Accountant confirmed the details. Subject is a well established and reputed indenting house representing
some foreign companies on commission basis. Their trade relations are fair.
Payments are reported as 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. B R Shah |
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Designation : |
Chief Accountant |
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Date : |
17.05.2008 |
LOCATIONS
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Registered Office : |
101-A, Neelam Centre, 249-B, Hind Cycle Road, Worli, Mumbai – 400030,
Maharashtra, India |
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Tel. No.: |
91-22-40013000 |
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Fax No.: |
91-22-40013030 |
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E-Mail : |
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Website : |
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Area : |
1000 sq. ft |
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Locations : |
Owned |
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Branch Offices : |
· Pancom Chambers, Ground Floor, 6-3-1090 / 1A, Somajiguda, Raj Bhawan Road, Hyderabad – 500482, Andhra Pradesh, India · 63-D, Chakrabeira Road, Off Lands Down Road, Calcutta – 700020, West Bengal, India |
PARTNERS
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Name : |
Mr. Amit Mehta |
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Designation : |
Partner |
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Name : |
Mr. Pinakin Patel |
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Designation : |
Partner |
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Name : |
Mr. Kokila Mehta |
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Designation : |
Partner |
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Name : |
Mr. Harsh Mehta |
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Designation : |
Partner |
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Name : |
Mr. Mohak Mehta |
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Designation : |
Partner |
BUSINESS DETAILS
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Line of Business : |
The concern acts as on Indenting Agent. |
GENERAL
INFORMATION
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No. of Employees : |
7 |
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Bankers : |
· State Bank of India Worli North Branch, Mumbai – 400 025, Maharashtra, India · Hongkong & Shanghai Banking Corporation Peddar Road Branch, Mumbai – 400 026, Maharashtra, India |
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Facilities : |
The concern enjoy facility from it is banks |
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Banking
Relations : |
Satisfactory |
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Auditors : |
Not Available |
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Associates/Subsidiaries : |
· Chem – Amit · Finorga (India) Private Limited · Perfochem Private Limited · Brom Chem (India) Private Limited · Value Healthcare Limited |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.1.000 Million |
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Borrowed : |
- |
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Total : |
Rs.1.000 Million |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2008 |
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Order Booking |
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300.000 |
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LOCAL AGENCY
FURTHER INFORMATION
The concern acts as on Indenting Agents for the followings -
· Angus
Chemicals / Dow (U.S.)
History:
S. Amit Group of Companies first
commenced business supplying lab chemicals in the 1950s and has over the last
six decades become a leading full service Chemical Solutions provider in India.
In keeping with the growth and
opening up of the Indian economy, S. Amit has strived to move further up the
value chain to market information based chemistry.
Through its knowledge driven
people and services, quality products and best practices, the S. Amit Group has
earned the reputation of a ‘thinking
organization that delivers.’
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1948 |
Commenced business |
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1950s |
Represented international laboratory chemical suppliers in
India |
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1960s |
Sourced and supplied raw materials for Indian laboratory
chemical manufacturers |
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1970s |
Developed the business in application-based niche markets
and first made entry into the intermediates market segment |
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1980s |
Focused business activity in the areas of intermediates
and fine chemicals for the pharmaceutical and agrochemical industries |
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1990s |
Achieved leadership position in marketing intermediates
and fine chemicals to the pharmaceutical and agrochemical industries and
further diversified into performance and specialty chemicals |
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2000s |
Consolidate our position in pharmaceuticals &
agrochemicals intermediates, as well as performance & specialty
chemicals. Move across the value chain by further increasing our thrust in
the areas of virtual manufacturing, providing innovative chemical solutions
and strengthening our warehousing facilities and distribution network |
Group Profile:
The S. Amit Group of Companies is a full-service Chemistry
Solutions provider in India delivering products and services in the areas of
chemicals and intermediates and performance and specialty chemicals for
diverse applications including pharmaceuticals, agrochemicals, polymer additives,
paints and coating, personal care, flavors and fragrances. The Group has
serviced a wide range of customers from companies that are leaders in their
respective industries to small and midsized firms.
Over the last six decades, the Group has transitioned from
representing international laboratory chemical suppliers to marketing
intermediates, performance and specialty chemicals. Today, as a solutions
provider, the S. Amit Group of Companies focuses on forward and backward
integration by offering a full range of services - global and local sourcing,
warehousing and distribution, virtual manufacturing and identifying problems and
recommending innovative chemical solutions.
Products and services are branded through the following
group companies - S. Amit, Finorga,
Chem Amit, Perfo Chem and Brom Chem
The S. Amit Group also has a joint venture company, Diamines
and Chemicals Ltd. that manufactures piperazine at its plant in Baroda,
Gujarat.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.42.64 |
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UK Pound |
1 |
Rs.83.00 |
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Euro |
1 |
Rs.66.00 |
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 |
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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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
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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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