MIRA
INFORM REPORT
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Report Date : |
13.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
HIRAL
INTERNATIONAL |
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Registered Office : |
A-1, Matru Ashish,
Above Bank of Baroda, S.V. Road, Kandivali (West), Mumbai-400067, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2008
(Estimated) |
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Year of Establishment : |
2000 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Trader of
Laboratory Instruments sold under ‘Hiral’ brand |
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 30000 |
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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 : |
Ms. Sheetal |
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Designation : |
Accountants |
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Date : |
11.10.2008 |
LOCATIONS
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Registered Office : |
A-1, Matru
Ashish, Above Bank of Baroda, S.V. Road, Kandivali (West), Mumbai-400067, Maharashtra,
India |
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Tel. No.: |
91-22-28061751 /
22013497 / 22060015 |
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Mobile No.: |
91-9892331777 /
9322267025 / 9821711111 |
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Fax No.: |
91-22-28063902 |
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E-Mail : |
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Website : |
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Area : |
400 Sq.ft. |
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Location : |
Owned (by Paresh
Mehta) |
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Factory : |
B-1, Om Shiv Kripa,
Opposite Laxmi Narayan Temple, Laxmi Narayan Lane, Kandivali (West),
Mumbai-400067, Maharashtra, India |
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Tel. No.: |
91-22-28661751 |
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Fax No.: |
91-22-28063902 |
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E-Mail : |
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Area : |
500 Sq.fts |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Pareshh H.
Mehta |
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Designation : |
Proprietor |
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Age : |
48 years |
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Qualification : |
Under Graduate |
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Experience : |
25 years |
KEY EXECUTIVES
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Name : |
Mr. Bharat Patel |
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Designation : |
Manager |
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Name : |
Ms. Sheetal |
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Designation : |
Accountants |
BUSINESS DETAILS
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Line of Business : |
Trader of
Laboratory Instruments sold under ‘Hiral’ brand |
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Products : |
Ř
Filter Paper Ř
Hiral Silica Ř
Hiral
Thermometers Ř
Hiral
Hydrometers |
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Brand Names : |
“Hiral” |
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Exports : |
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Product : |
Filter paper, Hiral Thermometers, Hiral
Hydrometers, Hiral silica |
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Countries : |
Africa and Sri
Lanka |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit
(30 days) |
GENERAL
INFORMATION
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Customers : |
Wholesalers and
Retailers |
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No. of Employees : |
25 |
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Bankers : |
Bank of Baroda,
S.V. Road, Kandivali (West), Mumbai - 400067, Maharashtra, India |
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Banking Relations : |
Satisfactory |
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Auditors : |
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Name : |
Mr. Bharat Patel Chartered Accountants |
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Associates/Subsidiaries : |
Disha Instruments
Company Address : 2nd Floor, 25, Ashish
Building, 40, Babu Genu Road, Mumbai-400002, Maharashtra, India Tel. No.:
91-22-22013497/ 22060015 Tele/Fax : 91-22-28063902/
28061751 E-Mail : phm26@vsnl.net Line of Business : Traders of Laboratory Instruments |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 5.500 Millions |
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Borrowed : |
-- |
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Total : |
Rs. 5.500 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2008 (Estimated) |
31.03.2007 |
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Sales Turnover |
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35.000 |
30.000 |
Expected Sales (2008-09): Rs. 45.000 Millions
LOCAL AGENCY
FURTHER INFORMATION
Notes:-
The concern gets
manufactured goods from outside agencies on job work.
Trade REFERENCES:
Ř
Jambu Prasad
and Sons, Ambala, Haryana
Ř
Shiv Dayal and
Sons, Ambala, Haryana
Website DETAILS:
Concern Profile
Scientific products find wide application in varied
industries including alcoholic-beverage, chemical, sugar and other sectors.
These scientific-testing-products occupy paramount importance, as on the basis
of their reading, a manufacturing unit can mix the exact proportion of
chemicals required for production. Subject is a renowned manufacturer,
exporter and importer of scientific goods such as
thermometer, filter paper, silica ware, nickel ware, hydrometer, lab
accessories and many other items.
Their facility is a perfect example of amalgam of human imagination and modern scientific techniques. Highly competent workforce and ultra modern machinery are successfully sailing their ship in the tsunami of globalization and cut-throat competition. The impeccable qualities, world class quality control measures, unmatched prices and unbeatable scientific solutions has helped them find a substantial client base at every part of the globe.
Product Range
The concern offers a plethora of scientific solutions like:
· Filter Papers
· Thermometers
· Silica Ware
· Nickel Ware
· Hydrometer
· Lab Glassware
· Other Scientific Instruments.
Application of the Products
The entity is offering a complete range of products for various chemical industries like all range of alchohalmeter and skies meter for wine testing, twaddle hydrometer for cloth and fertilizer testing, baum and brix for sugar mills, barometer for leather testing, density hydrometer for petrol, diesel and oil testing and many other items.
Quality Assurance
Every product is able to quench the desirable thirst of the clients by giving them a peg of superb performance. The organization follows stringent quality control measures at every production level to deliver an excellent range of products. The facility comprises of state-of-the-art machinery and highly competent workforce that works round the clock to provide at par with the best products. Every product passes through the severe inspection of experts before its shipment to the client.
Assets
· State-of-the-art machinery
· Highly competent workforce
· Well equipped quality control department
· Wide range of unmatched products
· Superior quality of packing
· Wide distribution network
· Timely delivery
· Fair and transparent trade practices.
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. 48.72 |
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UK Pound |
1 |
Rs. 82.17 |
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Euro |
1 |
Rs. 65.90 |
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 |
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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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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