MIRA
INFORM REPORT
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Report Date : |
13.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
NOBLE METAL |
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Registered Office : |
117, Sant Sena Maharaj Marg, 2nd Kumbharwada, Mumbai – 400
004, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
2003 |
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IEC No.: |
0308029861 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMN10942B |
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PAN No.: [Permanent
Account No.] |
AAKFM55735G |
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Legal Form : |
Partnership Concern with an unlimited liability of partner |
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Line of Business : |
Manufacturer of ferrous and non ferrous metal, SSP 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 3000 |
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Status : |
Small Concern |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively small concern in its field. Scale of activity
is limited. Trade relations are fair. Payments are however reported as
usually made as per commitments. The concern can be considered good for small to mediocre business
dealings. |
INFORMATION PARTED
BY
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Name : |
Mr. Dinesh K. Bhansali |
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Designation : |
Director |
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Contact No.: |
91-9869064962 |
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Date : |
11.10.2008 |
LOCATIONS
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Registered Office : |
117, Sant Sena Maharaj Marg, 2nd Kumbharwada, Mumbai – 400 004,
Maharashtra, India |
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Tel. No.: |
91-22-66393637 |
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Mobile No.: |
91-9869064962 (Mr. Dinesh K. Bhansali) |
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Fax No.: |
91-22-66518667 |
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E-Mail : |
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Website : |
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Area : |
400 sq ft |
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Location : |
Rented |
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Factory 1 : |
Vyapari Maha Mandal, Odhav, Ahmedabad |
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Mobile No.: |
91-9426051732 |
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Factory 2 : |
Mahadev Estate, Near Central Work Shop, Bharwadwass, Odhav, Ahmedabad |
PARTNERS
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Name : |
Mr. Dinesh K. Bhansali |
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Designation : |
Partner |
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Address : |
Flat No.46, 2nd Floor, Vora Building, Plot No.5A, Sindhi
Lane, C.P. Tank, Mumbai – 400 004, Maharashtra, India |
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Date of Birth/Age : |
32 Years |
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Qualification : |
S.S.C |
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Name : |
Mr. Sandeep K. Bhansali |
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Designation : |
Partner |
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Address : |
Flat No.46, 2nd Floor, Vora Building, Plot No.5A, Sindhi
Lane, C.P. Tank, Mumbai – 400 004, Maharashtra, India |
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Date of Birth/Age : |
22 Years |
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Qualification : |
H.S.C |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of ferrous and non ferrous metal, SSP pipes |
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Products : |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Credit |
GENERAL
INFORMATION
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Customers : |
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No. of Employees : |
44 (Office-4, Factory-40) |
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Bankers : |
Bank of Baroda, 36, Crystal, Kemps corner, Mumbai 400 026,
Maharashtra, India |
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Banking Relations
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-- |
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Auditors : |
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Name : |
Mr. Dilip Shah Chartered Accountant |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.0.615 Million |
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Borrowed : |
-- |
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Total : |
Rs.0.615 Million |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.615 |
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2] Share Application Money |
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0.000 |
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3] Reserves & Surplus |
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0.000 |
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4] (Accumulated Losses) |
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0.000 |
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NETWORTH |
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0.615 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
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2] Unsecured Loans |
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1.365 |
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TOTAL BORROWING |
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1.365 |
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DEFERRED TAX LIABILITIES |
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0.000 |
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TOTAL |
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1.980 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.005 |
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Capital work-in-progress |
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0.000 |
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INVESTMENT |
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0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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1.583 |
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Sundry Debtors |
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0.627 |
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Cash & Bank Balances |
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0.407 |
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Other Current Assets |
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0.005 |
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Loans & Advances |
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0.041 |
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Total
Current Assets |
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2.663 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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0.688 |
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Provisions |
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0.000 |
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Total
Current Liabilities |
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0.688 |
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Net Current Assets |
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1.975 |
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MISCELLANEOUS EXPENSES |
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0.000 |
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TOTAL |
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1.980 |
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Particulars |
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31.03.2008 |
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Sales Turnover |
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4.000 |
Expected Sales (2008-09): Rs.10.000 Millions
PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2008 |
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Sales Turnover |
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3.859 |
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Other Income |
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0.000 |
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Total Income |
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3.859 |
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Profit/(Loss) Before Tax |
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0.001 |
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Provision for Taxation |
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0.000 |
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Profit/(Loss) After Tax |
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0.001 |
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Expenditures : |
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Cost of Goods Sold |
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3.471 |
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Salaries, Wages, Bonus, etc. |
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0.006 |
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Interest |
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0.243 |
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Other Expenditure |
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0.138 |
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Total Expenditure |
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3.858 |
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KEY RATIOS
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PARTICULARS |
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31.03.2008 |
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PAT / Total Income |
(%) |
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0.02 |
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Net Profit Margin (PBT/Sales) |
(%) |
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0.02 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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0.03 |
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Return on Investment (ROI) (PBT/Networth) |
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0.00 |
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Debt Equity Ratio (Total Liability/Networth) |
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3.33 |
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Current Ratio (Current Asset/Current Liability) |
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3.87 |
LOCAL AGENCY
FURTHER INFORMATION
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Additional Requirement of Indiamart for Trust-Seal |
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VAT / TIN : 27460276630V |
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IEC Code : 0308029861 |
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PAN / TAN : AAKFMS55735G |
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Bank Name : Bank of Baroda |
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Bank Address : Altmount Road |
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Bank A/c. No.: 03790200000211 |
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Account Since : 2003 |
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This company is member of metal and stainless steel merchant association
As Per Websites
Subject was established in the year 2003 and is
primarily engaged in Importers and Stockiest of Hollow Forgings, Butt welding,
Socket welding, Threaded Pipe Fittings and Tubular components of all kind of
steel, etc.
Over a decade of progress have consistently made them realize that more
than products, it is understanding the client's requirement and giving maximum
services to the customer is what makes them stand apart from others. They have
a self contained unit with forming, Forging, Welding, Machining, Heat
treatment, and Facilities for physical and Chemical testing, This enables them
to meet strict requirements of manufacturing and testing codes.
Each of their department right from procurement, production, inventory,
market, sales and services are fully automated for a better supply chain
management, so as to offer the best product quality and prompt service to their
clients. Along with technological equipment, manpower is also given special
attention. All their professionals are highly dedicated and committed to their
client's requirements. Their team of workers starves to provide quality service
to you according to the specification.
Over the years they have supplied and export to many Industries in Prestigious
Projects, Maintenance and In Shutdown in Industries like:
- Oil
Refineries
- Chemical
Plants
- Fertilizers
Plants
- Petrochemicals
Plants
- Sugar Mills
- Pharmaceuticals
- Textile
Machineries
- Industrial Machineries
- Power
Industries
- Cements
Trade Reference
- Paras Bhawani Steel Private Limited, Contact Person- Mr. Paras
Malbahra
- Rahul Ferromat Engineering Private Limied, Mumbai
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 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 |
4 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
4 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
3 |
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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 |
NO |
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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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32 |
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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