MIRA INFORM REPORT

 

 

 

Report Date :

13.10.2008

 

IDENTIFICATION DETAILS

 

Name :

VIJAY RUBBER PRODUCTS

 

 

Registered Office :

C-7, Jayashree Estate, Goddev Road, Opposite Old Syndicate Bank Lane, Near Ekveera Gas Godown, Bhayander, Mumbai – 401 105, Maharashtra

 

 

Country :

India

 

 

Financials (as on) :

31.03.2008

 

 

Year of Establishment :

1980

 

 

Legal Form :

Sole Proprietory Concern

 

 

Line of Business :

Manufacturer and Supplier of Premium Quality Moulded and Extruded Rubber Parts

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

USD 2500

 

 

Status :

Small Concern

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is a small and unknown concern.

 

It’s payments are reported as slow but correct.

 

Scale of operation is small.

 

The concern can be considered for small to mediocre business dealings at usual trade terms and conditions.

 

 

INFORMATION PARTED BY

 

Name :

Mr. Ashok Shah

Designation :

Proprietor

Date :

06.10.2008

 

 

Name :

Mr. Vijay

Designation :

Key Executive

Date :

08.10.2008

 

 

Name :

Ms. Sujana

Designation :

Accountants

Date :

08.10.2008

 

 

LOCATIONS

 

Registered Office/Factory :

C-7, Jayashree Estate, Goddev Road, Opposite Old Syndicate Bank Lane, Near Ekveera Gas Godown, Bhayander, Mumbai – 401 105, Maharashtra, India 

Tel. No.:

91-22-28181543 / 28188083

Mobile No.:

91-9322280781

Fax No.:

91-22-28188030

E-Mail :

vijayrubberproducts@vsnl.net

Website :

http://www.vijayrubberproducts.net

Area :

1000 Sq. ft.

Location :

Owned

 

 

SOLE PROPRIETOR

 

Name :

Mr. Ashok Shah

Designation :

Proprietor

Date of Birth/Age :

46 Years

Qualification :

B.Com.

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer and Supplier of Premium Quality Moulded and Extruded Rubber Parts

 

 

Products :

·         Rubber Components

·         Rubber Sheet

·         Inflatable Rubber Seals

·         Endless Rubber Gaskets

·         Silicone Rubber Components

·         Silicon Transparent Tubing

·         Silicone Parts and Seals

·         Silicone Tubes

·         Bellows

·         Diaphragms

·         Extrusion Profiles

·         Mechanical Seals and "O" Rings

 

 

Terms :

 

Selling :

Credit (30 days / 60 days / 90 days)

 

 

Purchasing :

Credit (30 days / 60 days / 90 days)

 

 

GENERAL INFORMATION

 

Customers :

·         Wholesalers

·         Retailers

 

 

No. of Employees :

8

 

 

Bankers :

ICICI Bank, Bhayander (East), District Thane

 

 

 

Banking Relations :

-

 

 

Auditors :

Not Available

 

 

CAPITAL STRUCTURE

 

Capital Investment :

 

Owned :

Rs.0.500 million (Estimated)

Borrowed :

-

Total :

Rs.0.500 million (Estimated)

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

Particulars

 

 

 

31.03.2008

Sales Turnover

 

 

3.500

 

 

LOCAL AGENCY FURTHER INFORMATION

 

 

                                            Additional Requirement of Indiamart for Trust-Seal

 

 

Service Tax No. : --

 

Excise Registration No.: --

 

VAT / TIN : 27140060302V  Issue Date 01.04.2006

 

IEC Code : --

 

 

 

PAN / TAN : AAJP54506L

 

 

 

Bank Name : ICICI Bank

 

Bank Address : Bhayander (East)

 

Bank A/c. No.: 002805000804

 

Account Since : 8 Years

 

 

 

In case of any affiliations / memberships / certifications :

Name : --

 

Type : --

 

Expiry Date : --

 

 

Trade References

 

·         Alembic Limited – Baroda

·         V K Appliances – Parwanoo (Himachal Pradesh)

 

Web Details

 

Profile

 

Subject, are engaged in manufacturing and supplying premium quality moulded and extruded rubber parts like bellows, diaphragms, extrusion profiles, mechanical seals and O rings and silicone rubber components. They have a modernized manufacturing plant equipped with machinery that guarantees precision moulded rubber components, which are widely used in various industrial applications.


The comprehensive product range of oil seals, bellows, silicon tubes, neoprene and silicon parts etc. allows the clients to have a technological solution, which is precisely tailored to their manufacturing requirements. They procure the most reliable tools, gadgets, power packs, manifolds, cylinders and other equipment to manufacture fault free product range. The company is a crystallization with a vision to innovate precision engineered rubber moulding, which offers complete satisfaction to our esteemed customer with customized and value-added products.

 

Quality


Quality is main objective to the business. Subject, have established a scientific system of quality control, where strict vigil is maintained at every stage of product development. With constant innovation in production techniques, they also maintain a dynamic setup that consistently improves on quality benchmarks and meet the requirements of our clients.

All the products conform to both domestic and international standards of quality. To maintain the same, they have adopted comprehensive measures in all the production processes and activities. Every stage of the manufacturing process, starting from the sourcing of raw materials to the dispatch of the final products, is monitored by a team of quality control experts. Moreover, several physical and chemical characteristics of the finished products are tested in our in-house laboratory, before they are certified as "ready for dispatch." They carry following testing machine at the manufacturing unit:

 

 

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]         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

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.48.72

UK Pound

1

Rs.82.17

Euro

1

Rs.65.90

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

4

OPERATING SCALE

1~10

4

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

4

--PROFITABILIRY

1~10

4

--LIQUIDITY

1~10

4

--LEVERAGE

1~10

4

--RESERVES

1~10

4

--CREDIT LINES

1~10

4

--MARGINS

-5~5

-

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

NO

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

NO

--AFFILIATION

YES/NO

NO

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

TOTAL

 

37

 

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

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

NR

In view of the lack of information, we have no basis upon which to recommend credit dealings

No Rating

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions