MIRA
INFORM REPORT
|
Report Date : |
21.05.2008 |
IDENTIFICATION
DETAILS
|
Name : |
PIYUSH ROTOMAC |
|
|
|
|
Registered Office : |
Plot no. A/127, Road no. 22, Wagle Industrial Estate, Thane 400604,
Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2008 |
|
|
|
|
Year of Establishment : |
1990 |
|
|
|
|
Legal Form : |
Sole Proprietory Concern |
|
|
|
|
Line of Business : |
Manufacturer, exporter and supplier of a Rotomoulding Machine, Open Fired Rotational
Molding Machine, Box Type Rotational Moulding Machine, Vertical Tank Mould,
Horizontal Tank Mould, Septic Tank Mould, Spherical Tank Mould, Ice Box
Mould, Plastic Crates, Traffic Mould, Toilet Booth Mould, Telephone Booth
Mould, Dust Bin And Wheel Barrow Mould, Ladder and Slide Mould and Rocker
Mould |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 4000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established and reputed concern. Trade relations are
fair. 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
|
Name : |
Mr. Manglesh Saxena |
|
Designation : |
Marketing and Exports |
|
Contact No.: |
91-9821366128 |
|
Date : |
22.04.2008 |
LOCATIONS
|
Registered Office : |
Plot no. A/127, Road no. 22, Wagle Industrial Estate, Thane 400604,
Maharashtra, India |
|
Tel. No.: |
91-22-32447232 / 25812297 |
|
Mobile No.: |
91-9821156732 |
|
E-Mail : |
|
|
Website : |
www.piyushrotomac.com |
|
Area : |
8000 sq fts. |
|
Location : |
Owned |
SOLE PROPRIETOR
|
Name : |
Mr. Vasant Panchal |
|
Designation : |
Proprietor |
|
Date of Birth/Age : |
40 years |
|
Qualification : |
Graduate |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, exporter and supplier of a Rotomoulding Machine, Open Fired Rotational
Molding Machine, Box Type Rotational Moulding Machine, Vertical Tank Mould,
Horizontal Tank Mould, Septic Tank Mould, Spherical Tank Mould, Ice Box Mould,
Plastic Crates, Traffic Mould, Toilet Booth Mould, Telephone Booth Mould,
Dust Bin And Wheel Barrow Mould, Ladder and Slide Mould and Rocker Mould |
|
|
|
|
Exports : |
|
|
Products : |
All Products |
|
Countries : |
Africa, Middle –East, Thailand, Ghana, Lybia, South Africa and
Bangladesh. |
|
|
|
|
Terms : |
|
|
Selling : |
L/C D/P |
|
|
|
|
Purchasing : |
Payments against Delivery |
GENERAL
INFORMATION
|
Customers : |
End Users |
|
|
|
|
No. of Employees : |
30 |
|
|
|
|
Bankers : |
Dena Bank, Srinagar Branch, Thane |
|
|
|
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Auditors : |
|
|
Name : |
Mr. Jayesh Shah (Chartred Accountant) |
|
Address : |
Ghatkopar |
|
|
|
|
Associates/Subsidiaries : |
K. M. Industries, Ahmedabad |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Rs. 1.000 Million |
|
Borrowed : |
0.000 |
|
Total : |
Rs. 1.000 Million |
FINANCIAL DATA
[all figures are in Rupees Millions]
|
Particulars |
|
31.03.2008 |
31.03.2007 |
|
Sales Turnover |
|
20.000 |
15.000 |
LOCAL AGENCY
FURTHER INFORMATION
Trade References:-
v
Gmizarhak Moulders, Goa
v
United Polymers, Kerala
Note:- Subject started in 1990 at Vikroli and then shifted to current
address in 2003
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.42.67 |
|
UK Pound |
1 |
Rs.83.41 |
|
Euro |
1 |
Rs.66.39 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
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
|
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, we have no basis upon which to
recommend credit dealings |
No Rating |
|