MIRA
INFORM REPORT
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Report Date : |
20.11.2008 |
IDENTIFICATION DETAILS
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Name : |
BERI MERCURIO LIMITED |
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Registered Office : |
504, Nain Kripa, 118/ 122, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
28.07.1993 |
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Com. Reg. No.: |
11- 73193 |
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CIN No.: [Company
Identification No.] |
L74999MH1993PLC073193 |
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Legal Form : |
A Closely held Public Limited Company |
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Line of Business : |
Trader for Metal and Metal Components |
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 550000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow and Correct |
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Litigation : |
Clear |
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Comments : |
Ms. Meenakshi, Accounts Executive and Ms. Vasha Berlia, Director of
the company denied business details. Subject is a well established trader having satisfactory track. Trade relations are fair. Payments are reported as slow. However, the company can be considered normal for business dealings at
usual trade terms and conditions. |
LOCATIONS
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Registered Office/ Factory : |
504, Nain Kripa, 118/ 122, Kazi Syed Street, Mumbai – 400003,
Maharashtra, India |
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Tel. No.: |
91-22- 30222333 |
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Fax No.: |
91-22- 30222444 |
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E-Mail : |
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Website : |
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Location : |
Rented |
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Corporate Office : |
12, Khetan Bhavan, 198 Jamshedji Tata Road, Churchgat, Mumbai –
400020, Maharashtra |
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Tel. No.: |
91-22- 30222333 |
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Fax No.: |
91-22- 30222444 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Varsha Berlia |
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Designation : |
Director |
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Address : |
504, Nain Kripa, 118/ 122, Kazi Syed Street, Mumbai – 400003,
Maharashtra, India |
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Date of Birth/Age : |
25.05.1970 |
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Date of Appointment : |
15.10.2005 |
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Name : |
Mrs. Laxmi Devi Poddar |
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Designation : |
Director |
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Address : |
80/ 2A, Block – B, Bangur Avenue, Kolkatta– 700055, West Bengal, India
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Date of Birth/Age : |
15.03.1932 |
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Date of Appointment : |
23.01.2004 |
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Name : |
Mrs. Chandrakanta Berlia |
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Designation : |
Director |
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Address : |
504, Nain Kripa, 118/ 122, Kazi Syed Street, Mumbai – 400003,
Maharashtra, India |
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Date of Birth/Age : |
15.09.1946 |
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Date of Appointment : |
17.07.2006 |
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Directorship in
other Companies |
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Name : |
Mr. Kushal Nopany |
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Designation : |
Director |
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Address : |
14/17, Mackenzie Lane, 3rd Floor, Shreeram Niketan,
Kolkatta – 711101, West Bengal |
KEY EXECUTIVES
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Name : |
Mrs. Meenakshi |
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Designation : |
Account Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2007
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Names of Shareholders |
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No. of Shares |
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Mrs. Pooja Kedia |
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174800 |
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Mr. Vikash Berlia |
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40220 |
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Mrs. Chandrakanta Berlia |
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54760 |
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M/s. Ginni Finvest Private Limited |
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243300 |
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M/s Sweet Marketing (India) Private Limited |
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63930 |
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M/s Berlia Plastochem Private Limited |
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49660 |
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Mr. Vinod Kumar Dubey |
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10000 |
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Mr. Mohanlal Sharma |
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10000 |
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Mr. Shyamal Chatterjee |
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6000 |
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Mr. Amal Chatterjee |
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4000 |
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Mr. Satish Malpani |
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5000 |
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Mr. Satya Prakash Somani |
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5000 |
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Mr. R S Sahoo |
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5000 |
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Mr. Sunil Malpani |
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6400 |
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Mr. Madanlal Agarwal |
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10000 |
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Mr. Fakir Chand |
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10000 |
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Mr. Brijlal |
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10000 |
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Mr. Girish Kumar |
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10000 |
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Mr. Anil Kumar |
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10000 |
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Mr. Ravi Gupta |
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10000 |
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M/s. Devina Merchants Limited |
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10000 |
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M/s. Capri Traders Private Limited |
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10000 |
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Mr. Dharam Chand Bansal |
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10000 |
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M/s. Rubal Chemicals Private Limited |
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10000 |
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M/s. Berlin Securities Private Limited |
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90400 |
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M/s. Melectrosmelt India Limited |
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5500 |
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M/s. Motichand Beed |
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5000 |
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M/s. Manipal Limited |
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40000 |
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M/s. Centpercent Investment Limited |
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84000 |
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M/s. Beri Finvest |
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91060 |
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M/s. Navyug Enterprises |
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13730 |
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M/s. Pratap Metal Company |
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12940 |
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Indo Castle Multimedia Limited |
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5110 |
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Mr. Ajay Gupta |
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260 |
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Mrs. Suman Gupta |
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1000 |
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Mr. Vijay Aggarwal |
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1300 |
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Beri United Metal Limited |
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40000 |
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Medrel Pharma (India) Private Limited |
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20000 |
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Total |
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1188370 |
AS ON 29.09.2007
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Equity Share
Breakup |
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Percentage of
Holding |
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Category |
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Bodies corporate |
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64.00 |
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Directors or relatives of directors |
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23.00 |
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Other top fifty shareholders |
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13.00 |
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Total
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Trader for Metal and Metal Components |
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Products : |
S
Mercury S
Tin Ingots S
Lead Ingots S
Nickel Cathodes and Nickel Briquettes S
Zinc S
Cadmium Metal S
Selenium Metal S
Bismuth S
Antimony S
Cobalt Cathode and Briquettes S
Silicon Metal Lumps S
Copper Cathodes and Wire Bars S
Aluminum |
GENERAL INFORMATION
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Bankers : |
Not Available |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Kabra Agrawal and Company Chartered Accountant |
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Address : |
A- 307, Dattaguru, Plot No.15, Road RSC- 19, Gorai – 2, Borivali (West),
Mumbai – 400092, Maharashtra, India |
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Tel. No.: |
91-22- 28618506 |
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Fax No.: |
91-22- 28077210 |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
AS ON 29.09.2007
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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1250000 |
Equity Shares |
Rs. 10/- Each |
Rs.12.500
Millions |
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500000 |
Equity Shares |
Rs. 10/- Each |
Rs.5.000
Millions |
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Total |
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Rs.17.500
Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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1188370 |
Equity Shares |
Rs. 10/- Each |
Rs.11.883 Millions |
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 |
11.883 |
11.883 |
11.883 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
98.486 |
88.603 |
77.461 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
110.369 |
100.486 |
89.344 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
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DEFERRED TAX LIABILITIES |
1.419 |
1.431 |
1.128 |
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TOTAL |
111.788 |
101.916 |
90.472 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
14.564 |
15.884 |
16.540 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
102.943 |
93.562 |
57.707 |
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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 |
0.000
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0.000 |
0.000 |
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Sundry Debtors |
0.000
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1.410 |
32.921 |
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Cash & Bank Balances |
1.059
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0.980 |
0.427 |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
0.816
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0.891 |
0.678 |
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Total
Current Assets |
1.875
|
3.281 |
34.026 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
6.395
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9.472 |
17.250 |
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Provisions |
1.199
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1.339 |
0.521 |
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Total
Current Liabilities |
7.594
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10.811 |
17.771 |
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Net Current Assets |
(5.719)
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(7.530) |
16.225 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
111.788 |
101.916 |
90.472 |
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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 |
0.000 |
0.000 |
202.841 |
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Other Income |
12.894 |
16.382 |
3.784 |
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Total Income |
12.894 |
16.382 |
206.625 |
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Profit/(Loss) Before Tax |
11.133 |
12.903 |
5.775 |
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Provision for Taxation |
1.249 |
1.761 |
4.727 |
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Profit/(Loss) After Tax |
9.884 |
11.142 |
1.048 |
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Expenditures : |
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Purchase |
0.000 |
0.000 |
178.515 |
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Loss on Sale of Assets |
0.000 |
0.000 |
0.076 |
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Increase/(Decrease) in Finished Goods |
0.000 |
0.000 |
(2.621) |
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Administrative Expenses |
0.441 |
2.823 |
19.008 |
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Depreciation & Amortization |
1.320 |
0.656 |
0.628 |
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Other Expenditure |
0.000 |
0.000 |
5.244 |
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Total Expenditure |
1.761 |
3.479 |
200.850 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
--
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-- |
00.51 |
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Net Profit Margin (PBT/Sales) |
(%) |
86.34
|
78.76 |
02.79 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
09.32
|
11.44 |
05.33 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.10
|
0.12 |
0.06 |
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Debt Equity Ratio (Total Liability/Networth) |
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0.06
|
0.10 |
0.19 |
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Current Ratio (Current Asset/Current Liability) |
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0.24
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0.30 |
1.91 |
LOCAL AGENCY FURTHER INFORMATION
Fixed Assets
S
Building
S
Motor Car
S
Office Equipments
S
Computer
ABOUT US
Subject is a leading importer of the entire range of base metals and
minor metals and metal scraps. The products are imported from reputed
manufacturers and suppliers all over the world with whom Beri Mercurio have close
links. There is a regular availability of material on ex-stock and high seas
basis from ready and incoming consignments. In technical terms, Beri Mercurio
could be the unique partner that can handle any kind of metal.
THEIR PROFESSIONALISM
Beri Mercurio is committed to maintaining standards of expertise,
creativity and teamwork that meet its clients' expectations. Experienced and
trained, the staff has a complete insight in quality evaluation, production and
logistics guaranteeing solid skills foundation for operations and reliable
deliveries. Hence they can supply with the right contracted quality of material
and can ensure timely delivery of quality products. This is what Beri Mercurio
means by striving for professionalism.
Customer Service
Their customers
expect from them a reliable, prompt, safe and sound supply of quality products.
The basic requirement for Beri Mercurio to meet its customer's expectation is a
professional logistic infrastructure, which they offer.
Taking into consideration the composition of the material, its origin and
delivery points as well as any specific wishes of the customer they decide the
best method of transport. Through their strong and well established stategic
alliances with transporters, shippers and manufacturers, they are in a position
to offer to their customers the best not only in quality but also in price.
In addition to the actual transportation of goods, their customer services also
includes completion of all kinds of formalities, from preparation of movement
orders, customs and insurance documents, securing of imports and exports
permits and licences and other official export formalities. With their in-house
clearing department, their customers will have the convenience of timely
delivery of contracted quality at the doorstep.
Their customers and the group both profit from the comprehensive experience of
their logistic experts.
Supplier Service
Their key success
is based on their strategic alliances with their suppliers. From its inception,
Beri Mercurio has maintained a closely knit team of suppliers specialising in
various metals and other related products. Dealing directly with the suppliers
on a personal basis, enables them to provide the best quality of products at
the best available prices. Deals are based on mutually agreed payments and
terms and conditions.
As their company is backed with strong financial support, they extend this to
their suppliers with prompt payment facility. With an in-house documentation
and clearing team, they also provide complete documentation facility.
With these basic and fundamental ways, Beri Mercurio ensures that it meets the
needs of its suppliers in the world's metal market.
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.74 |
|
UK Pound |
1 |
Rs.74.37 |
|
Euro |
1 |
Rs.62.78 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
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
|
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 |
|