MIRA
INFORM REPORT
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Report Date : |
29.11.2008 |
IDENTIFICATION DETAILS
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Name : |
ALLIED INDUSTRIES |
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Registered Office : |
Pol House, Gandhi Chowk, Kalyan 421301, Thane, |
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Country : |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
1998 |
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PAN No.: [Permanent
Account No.] |
AAKFA0383L |
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Legal Form : |
Partnership concern with an unlimited liability of the Partners |
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Line of Business : |
Manufacturer and Exporter of critical machined parts and made out of
forgings. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 12000 |
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Status : |
Small concern |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively small concern in its filed. Trade relations are fair. Scale of activity is limited. No Complaints
have been heard so far. The concern can be considered for small to mediocre business dealings.
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INFORMATION PARTED BY
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Name : |
Mr. Surendra Kirsagar |
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Designation : |
Account Manager |
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Contact No.: |
91-9225119183 |
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Date : |
28.11.2008 |
LOCATIONS
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Registered Office : |
Pol House, Gandhi Chowk, Kalyan 421301, Thane, |
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Tel. No.: |
91-95251-2207206 / 2203468 / 2212978 |
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Mobile No.: |
91-9867273468 [Mr. Satish Pol] |
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Fax No.: |
91-95251-2203468 |
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E-Mail : |
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Location : |
Owned |
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Factory 1 : |
D 1/1, MIDC, Ambad, Nashik 422010, |
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Tel. No.: |
91-253-6607752 |
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Fax No.: |
91-253-6607751 |
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Area : |
7000 Sq. fts. |
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Location : |
Rented |
PARTNERS
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Name : |
Mr. Satish Pol |
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Designation : |
Partner |
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Address : |
Pol House, Gandhi Chowk, Kalyan 421301, Thane, |
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Date of Birth/Age : |
53 Years |
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Qualification : |
IIT Engineeering |
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Name : |
Mr. Aniket Pol |
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Designation : |
Partner |
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Address : |
Pol House, Gandhi Chowk, Kalyan 421301, Thane, |
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Date of Birth/Age : |
25 Years |
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Qualification : |
B.E. [Civil] |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of critical machined parts and made out of
forgings. |
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Exports : |
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Products : |
Critical machined parts |
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Countries : |
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Terms : |
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Selling : |
Invoice |
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Purchasing : |
Credit [45 days] |
GENERAL INFORMATION
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Customers : |
Manufacturer and Assembler |
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No. of Employees : |
24 [In Factory 20 + In Office 4] |
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Bankers : |
Thane Janata Bank , Thane Navpada Branch, Thane The United Western Bank Limited, Kalyan |
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Facilities : |
C/C Rs. 0.200 Million |
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Banking
Relations : |
--- |
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Auditors : |
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Name : |
Anil Joshi and Associates Chartered Accountants |
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Associates/Subsidiaries : |
Allied Exports, Kalyan Line of Business : Manufacturer and Exporter of critical machined
parts and made out of forgings |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 2.500 Millions [Estimated] |
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Borrowed : |
-- |
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Total : |
Rs. 2.500 Millions [Estimated] |
FINANCIAL DATA
[all figures are
in Rupees Millions]
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Particulars |
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31.03.2008 |
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Sales Turnover |
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12.500 |
Expected Sales (2008-09) : Rs. 15.000 Millions
LOCAL AGENCY FURTHER INFORMATION
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Additional Requirement of Indiamart for Trust-Seal |
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Excise Registration No.: AAKFA0383LXM001 |
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VAT / TIN : 27730363151 |
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IEC Code : 0304012203 |
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Bank Name : Thane Janata Bank |
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Bank Address : Thane Navpada Branch, Thane |
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Bank A/c. No.: 100969 |
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Account Since : 24 Years |
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In case of any affiliations / memberships / certifications : |
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Name : No ISO Certificates |
Trade References:
- Jupiter Metal
Corporation,
- Kiran
Aluminium Corporation,
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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. 49.84 |
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1 |
Rs. 76.81 |
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Euro |
1 |
Rs. 64.38 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
4 |
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PAID-UP CAPITAL |
1~10 |
4 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
4 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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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 |
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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31 |
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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