MIRA
INFORM REPORT
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Report Date : |
05.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
M M STEEL INDUSTRIES |
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Registered Office : |
Kanganwal Road, Opposite. Jugiana, Near By Vidhata Private Limited,
Ludhiana 141010, Punjab. |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
1993 |
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PAN No.: [Permanent
Account No.] |
ABRPB22997 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturing of Tractor Parts. |
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 4500 |
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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 concern having satisfactory track. Trade
relations are fair. Payments are reported as slow but correct. However, the concern can be considered normal for business dealings at
usual trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Sahil Dadu |
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Designation : |
Proprietor (Chief Executive Officer) |
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Contact No: |
91-9815827000 |
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Date : |
20.10.2008 |
LOCATIONS
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Registered Office/Head Office : |
Kanganwal Road, Opposite. Jugiana, Near By Vidhata Private Limited,
Ludhiana 141010, Punjab, India. |
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Tel. No.: |
91-161-2494106 |
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Mobile No.: |
91-9815827000 |
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E-Mail : |
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Website : |
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Area : |
1500 sq ft |
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Location : |
Owned |
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Branches : |
2519, Street No.14, Dashmesh Nagar, Gill Road, Ludhiana India. |
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Tel. No.: |
91-161-2494106 |
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Mobile No.: |
91-9815084718 (Mr. Manmohan Dadu) |
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E-Mail : |
branch@mmsteelindustries.com |
SOLE PROPRIETOR
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Name : |
Mr. Sahil Dadu |
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Designation : |
Proprietor (Chief Executive Officer) |
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Date of Birth/Age : |
25 Years |
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Qualification : |
B.Com |
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Experience : |
4 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturing of Tractor Parts. |
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Products : |
·
Front Stub Axle (Spindle) ·
Wheel Axle Shaft (Half Axle) ·
Zetro Shaft (Induction Hard) ·
HMT (Zetor) Pivot 2011, 5911, 2522 ·
Hydraulic Shafts (Lift Shafts) ·
Differential Shafts (Long Axle) ·
Tractor Pins ·
PTO Shafts (Induction) ·
Automotive Fasteners ·
Agricultural Implements (Horrow Disk, Point, Combine Fringes) ·
Shaft King Pin ·
Steering Shafts |
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Brand Names : |
BIC and MM |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL
INFORMATION
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Suppliers : |
Own Manufacturing |
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No. of Employees : |
35 |
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Bankers : |
Union Bank of India, Ludhiana 141010, Punjab, India. |
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Banking
Relations : |
Satisfactory |
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Associates/Subsidiaries : |
Bhushan Steel Industries, Sales Turnover : Rs.10.000 Millions |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.0.900 Million |
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Borrowed : |
-- |
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Total : |
Rs.0.900 Million |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2008 |
31.03.2007 |
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Sales Turnover |
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10.000 |
8.000 |
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Profit/Loss for the year |
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12% |
12% |
Expected Sales (2008-09) : Rs.12.000 Millions
LOCAL AGENCY
FURTHER INFORMATION
TRUSTSEAL CHART ACCEPTANCE
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Parameters |
Detail |
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Existence Verification |
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Name |
M M STEEL INDUSTRIES |
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Address |
Kanganwal Road, Opp. Jugiana, Near By Vidhata Private Limited,
Ludhiana 141010, Punjab, India. |
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Statutory Approvals |
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Legal Status of Firm |
Proprietorship Concern |
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Income Tax Registration |
ABRPB22997 |
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VAT / TIN Registration |
*03941096121 |
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Name of Bank |
Union Bank of India, Ludhiana 141010,
Punjab, India. |
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Creditability Factors |
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Years of Establishment |
1993 |
Website Details
Attached:
Profile:
The concern was originated in
1978, concern showed it proficiency with introducing the high quality
range of products Tractor Parts.
The expertise has enable them to ensure high product quality by subjecting
their products to strengthen quality control measures during each stage of
production and also while dispatched.
The concern is in the process of getting ISO 9002 Certification also, one of the Pioneer in manufacturing
of tractor parts with BIC and MM as its Trademark. Mr. Manmohan Dadu and Mr. Sahil Dadu Managing Director of
this firm. Bhushan Steel and The Concern has a manufacturing units
as well equipped with latest machinery for production of excellent quality
tractor parts, along with the experienced team of professionals at management
level assisted by the team of skilled and hard working has added to the
goodwill of the concern.
The Praiseworthy Achievement and Reputation has enable subject to associate
itself with many leading concerns and groups in India and Abroad. In endeavor
to serve the clientele well; they welcome new business proposals, venture and
bulk orders ensuring the timely of completion of delivery of orders.
Finally their goal has always been to provide their customer with standards of
excellent in their products and services needed in the world of spare parts. They
take go pride in providing the quality that their esteemed
clientele expect of from them besides the expenses range they offer.
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.48.62 |
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UK Pound |
1 |
Rs.76.71 |
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Euro |
1 |
Rs.61.30 |
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 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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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 |
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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46 |
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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