MIRA
INFORM REPORT
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Report Date : |
08.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
PULKIT PLASTIC PRODUCT |
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Registered Office : |
80-82, Chirag Industrial Estate, Near Revabhai Estate, CTM, Ahmedabad
– 380 026, Gujarat |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
1987 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer and Trader of PP Roofing Sheets, Decorative Sheets, Fibre
Sheets, Vacuum Forming Sheets, Wood Grain Plastic Sheets, etc. |
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 250000 |
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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 : |
Subject is a well established concern having satisfactory track. Trade
relations are fair. Payments are usually correct and as per commitments. Nothing
adverse reported. The concern can be considered normal for business at usual trade terms
and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Tushar Agarwal |
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Designation : |
Chief Executive Officer |
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Contact No.: |
91-9825027919 |
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Date : |
17.10.2008 |
LOCATIONS
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Registered Office/Factory : |
80-82, Chirag Industrial Estate, Near Revabhai Estate, CTM, Ahmedabad
– 380 026, Gujarat, India |
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Tel. No.: |
91-79-25861975 / 25860975 |
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Mobile No.: |
91-9825027919 |
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Fax No.: |
91-22-25850755/25860975/25860075 |
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E-Mail : |
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Website : |
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Area : |
25000 sq. dt. |
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Location : |
Owned |
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Factory : |
Located at Ahmedabad |
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Area : |
50000 sq.yds |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mrs. Sushama Agarwal |
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Designation : |
Proprietor |
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Date of Birth/Age : |
49 years |
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Qualification : |
Graduate |
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Experience : |
26 years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Trader of PP Roofing Sheets, Decorative Sheets, Fibre
Sheets, Vacuum Forming Sheets, Wood Grain Plastic Sheets, etc. |
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Products: |
·
Plastic Sheets ·
PP Sheets ·
HDPE Sheets ·
LDPE Sheets ·
PP Roofing Sheets ·
Decorative Sheets ·
Fibre Glass Sheets ·
Thermoforming Sheets ·
Vacuum Forming Sheets ·
Wood Grain Plastic Sheets
·
Warning Tape and Mate ·
Cable Protecting Sheets
·
Underground Gas Line Protecting Sheets ·
Lamination Sheets. |
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Exports : |
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Products : |
· All products like PP Roofing Sheets ·
Decorative Sheets etc. |
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Countries : |
Middle East |
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Imports : |
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Products : |
All products |
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Countries : |
·
Germany ·
US ·
UAE |
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Terms : |
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Selling : |
Cash and Credit (30 days / 60 days / 90 days) |
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Purchasing : |
Cash and Credit (30 days / 60 days / 90 days) |
GENERAL
INFORMATION
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Customers : |
·
Distributors ·
Direct Users ·
Wholesalers ·
End Users |
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No. of Employees : |
50 |
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Bankers : |
State Bank of India Address : Main Branch,
Ahmedabad |
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Facilities : |
C/C – Rs.1.200 millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Mr. Raman Jain and Company Chartered Accountants |
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Address : |
Ahmedabad |
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Associates/Subsidiaries : |
Singhal Plastic Industries Address : Ahmedabad Line of Business
:
Manufacturing of Plastic Shetts |
CAPITAL STRUCTURE
(As on 31.03.2007)
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Capital Investment : |
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Owned : |
Rs. 50.000 millions |
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Borrowed : |
--- |
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Total : |
Rs. 50.000 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 |
14.000 |
13.000 |
10.000 |
Expected Sales (2008-09): Rs.35.000 millions
LOCAL AGENCY
FURTHER INFORMATION
WEBSITE DETAILS
Profile
Subject brings to a wide range of exquisite plastic
products which have created exemplary benchmarks in the national as well as
international market. Since the establishment in the year 1987, they have been
catering to the varied requirements of a wide spectrum of customers.
Consequently, theye have moved a long way to fortify themselves as an unmatched
manufacturer, trading company, importer
and exporter of PP Roofing Sheets, Decorative Sheets, Fibre Sheets, Vacuum
Forming Sheets, Wood Grain Plastic Sheets, etc. The products find wide
application in doors and windows, ceilings, domes, skylights, partitions, etc.
They
guarantee with an easy installation including cutting, drilling, and mounting
on wooden, steel and aluminum frames. Owing to a dynamic leadership and
experienced professionals, theye have emerged as one of the most preferred
companies in the plastic industry today. They keep themselves abreast of the
latest developments, trends and technologies in the industry in order to cope
up with the global market pressure. The emphasis on complete customer
satisfaction, within a short span, has won them, the trust, confidence and
assurance of worldwide customers.
Quality
Quality
is of paramount importance to them. The team of quality control inspectors
monitor each and every stage of the production process in order to nurture
quality at all the levels of the business. The high quality and water proof
sheets are available in various legends and attractive designs and sizes. The
ready to paint or stain sheets complement and match both interior and exterior designs.
The
PP roofing sheets and other products are made with the most innovative
technology under stringent quality control procedures, making them more
competitive in the world class market. To ensure world class products and
services to the customers on time and at competitive prices, they maintain a
quality management system complying with international parameters helping them
to remain far ahead of the competitors.
Infrastructure
They are backed by
sound and well equipped infrastructure coupled with cutting edge technology.
The in house manufacturing unit is harnessed with the power of ultra modern
machineries which yield satisfactory results at low maintenance cost. The scope
of the quality system continues to expand integrating with the procedures which
ensure safe and environmentally responsible operations in accordance with the
relevant statutory and regulatory requirements of the company. The process of
mating of the gel coating to the sheet resin and reinforcing fibre is precisely
controlled and the sheets travel directly through profile forming and over
curing.
The finished
products emerge as totally integrated and no surface determination is possible
afterwards. Further, a highly UV resistant and futuristic gel coat reduces
surface erosion practically to zero. The spacious and technologically advanced
warehouse have the capacity to store and execute bulk amount of order as per
the specific requirements of the customers.
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.47.76 |
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UK Pound |
1 |
Rs.74.87 |
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Euro |
1 |
Rs.60.81 |
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 |
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 |
YES |
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--AFFILIATION |
YES/NO |
YES |
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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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