MIRA
INFORM REPORT
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Report Date : |
29.11.2008 |
IDENTIFICATION DETAILS
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Name : |
SATGURU INDUSTRIES |
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Registered Office : |
El, 31, MIDC, Chikalthana, Opposite to Cosmo Films, |
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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.] |
AENPM4937P |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer of Agricultural HDPE and LLDPE Pipes |
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 2500 |
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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 from market
sources. The concern can be considered for small to mediocre business dealings.
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INFORMATION PARTED BY
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Name : |
Mr. Kulkarni |
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Designation : |
Accountant |
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Date : |
22.11.2008 |
LOCATIONS
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Registered Office/Factory : |
El, 31, MIDC, Chikalthana, Opposite to Cosmo Films, |
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Tel. No.: |
91-240-2488932 / 5602396 |
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Mobile No.: |
91-9890113023 |
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Fax No.: |
91-240-2483584 |
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E-Mail : |
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Website : |
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Area : |
10000 Sq. fts. |
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Location : |
Owned |
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Branches: |
208, N-3, Cidco, |
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Tel. No.: |
91-240-2482751 |
SOLE PROPRIETOR
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Name : |
Mrs. Inderjeet Kaur Marjara |
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Designation : |
Proprietor |
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Address : |
208, N-3, Cidco, |
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Tel. No.: |
91-240-2482751 |
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Date of Birth/Age : |
48 Years |
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Qualification : |
B.Com |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Agricultural HDPE and LLDPE Pipes |
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Terms : |
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Selling : |
Cash and Credit [30 days] |
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Purchasing : |
Cash and Credit [30 days] |
GENERAL INFORMATION
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Customers : |
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No. of Employees : |
10 |
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Bankers : |
The Saraswat Co-operative Bank CIDCO Branch, |
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Facilities : |
Overdraft Rs. 0.500 Million |
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Banking
Relations : |
---- |
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Auditors : |
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Name : |
M. S. Amrao Associates Chartered Accountants |
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Address : |
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CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 0.500 Million [Estimated] |
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Borrowed : |
-- |
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Total : |
Rs. 0.500 Million [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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9.855 |
Expected Sales (2008-09) : Rs. 10.000 Millions
LOCAL AGENCY FURTHER INFORMATION
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Additional Requirement of Indiamart for Trust-Seal |
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VAT / TIN : 27780206711 dated 01.04.2005 |
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IEC Code : 0305079875 |
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Bank Name : The Saraswat Co-operative Bank |
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Bank Address : CIDCO Branch, |
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Account Since : 24 Years |
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In case of any memberships : |
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Name : All |
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Reg. No. : 0130 |
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Expiry Date : Every Year Renewal |
Trade References:
- Akash
Agencies,
- Vijay Beej
and Machinery store,
- Bharat
Machinery Stores, Ahmednagar
AS PER WEBSITE DETAILS
PROFILE
Satguru Industries was founded in plastic
industries in the year 1997 – 98, started manufacturing with the re-processed
products (granules) with two extruder. And gaining experience with the material
founded in HDPE PIPE in 2002. Since then Satguru pipes dedicated by not
comprising their product and continuation improvements in products and
processing systems. Rising us to reach with four extruder and healthy
administrative office which provide documentation with computers, R&D and
quality control department, space for raw material, and healthy space for
finished goods. Company believes to innovate product features to offer excellent
product to indulge customers’ requirements.
High Density Poly Ethylene or HDPE is one
of the most versatile polyolefin known to us first brought in to the country by
the likes of PIL, Hoest Dyes etc., way back in the 1960’s. Being a very
versatile material it soon caught up with the market among special areas such
as dredging industry, mines, power plants, etc. A very light and strong
material with inherent properties of flexibility allows it to be taken around
turns without need for joints. Its ability to sustain extreme temperatures made
it favorable for hilly regions. Being non-reactive further allowed various
industries to put long HDPE lines for diverse applications. The heavy-duty
Satguru industrial pipe systems made of High Density Poly Ethylene (HDPE) are
the most advanced means for transportation of potable water and diverse
industrial applications including chilled water lines; sewerage & drainage;
transport of abrasive slurry, mineral ores, wood pulp, etc.; process lines for
corrosive chemicals; food processing lines including edible oils, juices, etc.
HDPE, the most versatile piping material.
Clearly a better option than pipes of almost every other material.
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. 49.85 |
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1 |
Rs. 76.60 |
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Euro |
1 |
Rs. 64.68 |
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 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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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 |
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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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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