MIRA
INFORM REPORT
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Report Date : |
06.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
MINERALS AND TRADING COMPANY |
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Registered Office : |
16, Ajanta Commercial Centre – I, P O Box 89, Gandhidham – 370 201,
Gujarat |
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Country : |
India |
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Financials (as on) : |
31.03.2008 (Estimated) |
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Year of Establishment : |
1996 |
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IEC No.: |
3799000020 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
RKTM00386B |
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PAN No.: [Permanent
Account No.] |
AFUPS1121B |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer and Exporter of oil
and Gas Drilling Chemicals and Industrial Minerals. |
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 10000 |
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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. The concern can be considered normal for business dealings at usual
trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Firoz Khan |
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Designation : |
Proprietor |
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Contact No.: |
91-9825225124 / 9426251601 |
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Date : |
30.09.2008 |
LOCATIONS
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Registered Office/ Factory : |
16, Ajanta Commercial Centre – I, P O Box 89, Gandhidham – 370 201,
Gujarat, India |
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Tel. No.: |
91-2836-221148 / 250226 / 250227 / 250228 |
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Mobile No.: |
91-9825225124 / 9426251601 |
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Fax No.: |
91-2836-233339 |
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E-Mail : |
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Website : |
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Area : |
2600 Sq.Mtrs.(Office + Factory) |
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Location : |
Leased |
SOLE PROPRIETOR
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Name : |
Mr. Firoz Khan |
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Designation : |
Proprietor |
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Age : |
43 years |
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Qualification : |
B. Com |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of oil
and Gas Drilling Chemicals and Industrial Minerals. |
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Products : |
· Crystalline Barite · Bauxite Lumps · Sodium Bentonite · Bleaching Earth · Crystalline Calcite · Catlitter / Patlitter · Kaolin [China Clay] |
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Exports : |
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Products : |
Minerals |
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Countries : |
Japan, UAE, Korea |
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Terms : |
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Selling : |
L/C, Credit (60 days) |
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Purchasing : |
L/C, Credit (60 days) |
GENERAL
INFORMATION
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Customers : |
End users |
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No. of Employees : |
30 |
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Bankers : |
· Bank of Baroda, Kandla Free Trade Zone · State Bank of Indore, Plot No. 284, Ward 12B, Gandhidham, Gujarat, India |
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Facilities : |
( Bank of Baroda
) The concern reported to enjoy Cash Credit of Rs. 20.000 millions from its
bankers. |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Mistry and Company Chartered Accountants |
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Address : |
Ahmedabad, Gujarat, India |
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Associates/Subsidiaries : |
NIL |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 2.000 millions (Estimated) |
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Borrowed : |
---- |
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Total : |
Rs. 2.000 millions (Estimated) |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2008 (Estimated) |
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Sales Turnover |
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40.000 |
Expected Sales (2008-09): Rs.90.000 millions
LOCAL AGENCY
FURTHER INFORMATION
TRUSTSEAL ACCEPTANCE CHART
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Parameters |
Detail |
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Existence Verification |
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Name |
MINERALS AND TRADING COMPANY |
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Statutory Approvals |
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Legal Status of Firm |
Proprietorship Firm |
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Income Tax Registration |
AFUPS1121B |
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Central Sales Tax Registration |
2451001840 |
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VAT / TIN Registration |
24011001840 |
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Import Export Code |
3799000020 |
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Name of Bank |
· Bank of Baroda · State Bank of Indore, Plot No. 284, Ward 12B, Gandhidham, Gujarat, India |
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Current account Number |
03760200000057 (Bank of Baroda) 01000050350 (State Bank of Indore) |
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Account Since |
10 years
O/D - 03760400000041 |
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Creditability Factors |
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India Mart Client Since |
2 years |
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Standards and Certifications |
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Quality Management Systems |
ISO 9001 : 2000 ISO 9001 : 2811 Issue Dated : 2004 |
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Capexil Reg No.: (Chemical Industry Reg. No.) |
Capexil/WR/REG/Processed Minerals/M-2/LT |
website details:-
Established in the
year 1986, subject is a registered
trading house approved by the Government of India. They are greatly involved in
trading a quality assured range of minerals such as bentonite powder, bleaching
earth, calcite, kaolin and others. In addition, they also deal in exporting of
oil well drilling, mud chemical and other industrial minerals.
Their products extracted from the best quarries in the country have helped them
carve a niche in the industry. They have their own mines, crushing plants, facilities
for transportation, shipping and lab testing and a fully furnished warehouse.
It enables them to deliver consignments within specified time frame and at the
most competitive prices; in their original conditions.
Under the guidance of Mr. Firoz Khan,
their concern has become one of the fastest growing groups in the country
dealing in the export of minerals. Based at Gandhidham, they have been able to
extend their business to places such as Mumbai, New Delhi, Ahmedabad, Baroda,
Ludhiana and Indore. In order to make a foray into the world of exports, they
are also setting up a branch at Singapore and other countries. 
Products Profile
The qualitative
products offered by them are extracted from the best quarries of the country.
Their range comprises of Barites,
Bauxite, Bentonite, Bleaching Earth and Clay, Calcite, Catlitter / Patlitter,
Kaolin [China Clay] and A P I.
Their comprehensive assortments of
minerals possess following features:
· Pure
· Eco-friendly
· Stable under different conditions
· Appropriate composition
Quality Assurance
They have over the
years laid their emphasis on quality by improving their minerals and achieve
complete customer satisfaction. Their dedicated, loyal and committed workforce
has helped them in every way and is their main assets. Their quality
controllers maintain a track of their entire proceedings right from procurement
of minerals till they are delivered to their clients. The procured minerals are
assured to be oh high quality standards.
Their minerals are checked in their manufacturer’s premises on basis of
following parameters:
· Purity
· Composition and others
Warehouse
They possess a sound
warehousing facility that helps them in storing their minerals in bulk
quantities. Their warehouse is segregated into various sections to ensure easy
storage and fast retrieval of the minerals. Each of their stock is labeled
properly with their respective name and batch number. They also ensure all the
minerals are stored under proper temperature. Further, their quality experts
check the minerals periodically for any leakage or spillage. They have manned
their warehouse efficiently to ensure that the range retains their original
condition, till its delivery to the specified destination.
Client
Satisfaction
They have always
focused their attention on satisfying their clients by providing them with
qualitative range of minerals. Their dedicated and hard working professionals
enable them to cater their range to their clients all across the country. They
constantly strive to understand the needs of their clients by applying new
technologies and provide the best possible solutions. Their quality experts
have always taken care of the quality of all their minerals to ensure complete
customer satisfaction. With a combination of ‘market focus’ and ‘quality’, they
are recognized as a reliable trader and supplier of minerals and thus met their
customer’s evolving needs.
Highlights
Over the years, they
have created many landmarks in their domain, a brief of which is enlisted
below:
Since 4 years, they
are in contract with an American firm
M/S Venlaks Inc. involved in supplying of Attapulgite and Bauxite
They are engrossed
in exporting Sodium Silicate Glass to National Detergent Co. located at
Sultanate of Oman
They also export
goods to Damman, USA and South Korea
They are also making inroads in the development of their own products in
conformation to international quality standards. In addition, they are also
seeking tie-ups with international repute organizations for the product
development, export and to create a concrete business relationship.
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.47.46 |
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UK Pound |
1 |
Rs.83.37 |
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Euro |
1 |
Rs.64.46 |
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 |
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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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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