MIRA
INFORM REPORT
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Report Date : |
15.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
RAINDROPS WATER TECHNOLOGIES |
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Registered Office : |
144, 145, Pushpack Industrial Estate, G I D C , Phase – 1, Valve Ahmedabad
– 380 001, 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 : |
2005 |
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PAN No.: [Permanent
Account No.] |
BBAPS5074A |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer of Water Coolers |
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 2000 |
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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 3 years old concern in its field. Scale of activity is
limited. No complaints have been heard against the subject from the market
sources. The concern can be considered good for small to mediocre business
dealings. |
INFORMATION PARTED
BY
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Name : |
Mr. Kinjal Shah |
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Designation : |
Proprietor |
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Contact No.: |
91-9824317428 |
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Date : |
14.10.2008 |
LOCATIONS
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Registered Office/ Factory : |
144, 145, Pushpack Industrial Estate, G I D C , Phase – 1, Vatva
Ahmedabad – 380 001, Gujarat, India |
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Tel. No.: |
91-79-25895047 |
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Mobile No.: |
91-9824317428 (Mr. Kinjal Shah ) / 9924314316 |
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E-Mail : |
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Website : |
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Area : |
700 Sq.fts |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Kinjal Shah |
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Designation : |
Proprietor |
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Date of Birth/Age : |
31 Years |
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Qualification : |
B. E. Mechanical |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Water Coolers |
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Products : |
· Reverse Osmosis Plants – Domestic · Reverse Osmosis Plant – Industrial · Deminualization Plants / Softening And Filter Plants · Cartridges · Chemicals · Water Coolers / Dispensers · spares |
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Exports : |
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Countries : |
African Countries |
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Imports : |
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Countries : |
USA, China |
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Terms : |
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Selling : |
Credit |
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Purchasing : |
Cash, Credit (30 days) |
GENERAL
INFORMATION
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Customers : |
Wholesalers, Retailers, OEM’s |
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No. of Employees : |
9 |
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Bankers : |
Axis Bank, Ahmedabad, Gujarat, India |
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Banking
Relations : |
---- |
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Auditors : |
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Name : |
Joshi 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. 0.250 million |
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Borrowed : |
--- |
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Total : |
Rs. 0.250 million |
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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4.800 |
Expected Sales (2008-09): Rs.15.000 millions
LOCAL AGENCY
FURTHER INFORMATION
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Additional
Requirement of Indiamart for Trust-Seal |
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VAT / TIN : 24071802452 |
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PAN / TAN : BBAPS5074A |
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Bank Name : Axis Bank |
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Bank Address : Ahmedabad, Gujarat, India |
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Bank A/c. No.: 080010200016001 |
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Account Since : 3 years |
TRADE REFERENCES:-
· Reliance Industry, Jamnagar
· Essara Oil, Jamnagar
WEBSITE DETAILS:-
Concern Profile
The concern take immense pride to introduce their selves as one the leading manufacturers and exporters of Compact 50 LPH R.O. Plant, R.O. System 100-250 LPH, Softening and Filtration, Large R.O. System, Portable Demineralizer System, Domestic range of water purifier, etc.
Their systems are designed after extensive research to meet the challenges of
the modern usages, consequentially offering clean, chemical- free and odorless
water. Their systems remove viruses, bacterias and protozoa, besides many
organic/inorganic chemicals to provide great tasting water while protecting
against water related disease.
A quality conscious company, they follow a stringent manufacturing process so
as to offer machines that are at par with the international standard. Further
their team of engineers and technocrats work in close co-ordination with the
clients to understand their specifications to provide optimum results. Prompt
delivery and world class service is their forte.
Products
Committed to quality, they are a trusted name engaged in manufacturing a wide variety of water treatment equipment, chemicals and spares. Reliable to use, these products are widely appreciated by their clients. Their range includes:
· Reverse Osmosis plants-Industrial
· Demineralization Plants
· Softening and Filter Plants
· Reverse Osmosis Plants – Domestic
· Cartridges
· Chemicals
· Water Coolers/ Dispensers
· Spares
Quality
Their company is quality-driven. Their state-of-the-art production unit ensures to manufacture premium quality products. They are compliant with the industrial norms. They have dedicated their all resources to deliver innovative, cost effective, reliable industrial pure water solutions to customers everywhere.
Their objective is to make continuous improvements in the quality of their products
through updating their technology and procedures. Strict vigil is maintained
throughout the manufacturing procedure to come out with optimum quality
products.
Research and
Development
Their professionals keep abreast with the market trends and keep close cooperation with companies in the related field, which helps them in adapting to their customer needs. With continual R and D, they ensure that new products are developed with precision and perfection and are in accordance with the market demands.
Team
They nurture a team of skilled and highly qualified engineers who have developed their expertise in designing high end technological equipment. They have site experts who can handle the water and wastewater treatment problems. A separate project team is formed who are responsible for the project right from the planning till the commissioning of the project. They also ensure in time execution of the project with the following role on hand. They ensure to offer their team various career development and training opportunities yielding better results.
Manufacturing Unit
They have a well equipped production unit backed by latest technology and hi tech machines, which help in yielding efficient and effective results. Technology plays a very important role in engineering innovative products. They possess a team of engineers which is involved in manufacturing premium quality products.
Their infrastructural set up includes highly ultra modern machines and software
techniques which are involved to purify each drop of water leaving no space for
any flaws or bacteria. They are also well equipped with a team of highly
trained and professionalized technocrats which look into each and every
specification and details of the plant. Easy to operate and mechanized these
plants can easily bear the nominal wear and tear.
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.47.71 |
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UK Pound |
1 |
Rs.83.30 |
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Euro |
1 |
Rs.65.12 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
3 |
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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 |
4 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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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 |
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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27 |
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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