MIRA
INFORM REPORT
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Report Date : |
17.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
M K SAFETY SALES |
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Registered Office : |
Raj Nagar, Near Mell Fort Motel, Delhi Haipur Highway, Gurgaon – 122
001, Haryana |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
1996 |
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PAN No.: [Permanent
Account No.] |
ALXPK0265D |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Wholesaler, Suppliers and Distributors of Industrial Safety Apparels,
Safety Signage, Display Boards. |
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 1500 |
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Status : |
Small Concern |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a small concern in its field. Its is not much known. Trade relations are fair. Payments are usually correct and as per commitments. The concern can be considered for small to mediocre business dealings
at usual trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Mukesh Kumar |
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Designation : |
Proprietor |
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Date : |
14.10.2008 |
LOCATIONS
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Registered Office : |
Raj Nagar, Near Mell Fort Motel, Delhi Haipur Highway, Gurgaon – 122
001, Haryana, India |
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Mobile No.: |
91-9810249568 / 9810397568 |
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E-Mail : |
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Area : |
600 Sq. ft. |
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Location : |
Rented |
SOLE PROPRIETOR
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Name : |
Mr. Mukesh Kumar |
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Designation : |
Proprietor |
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Date of Birth/Age : |
25 Years |
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Qualification : |
Graduate |
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Experience : |
3 Years |
BUSINESS DETAILS
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Line of Business : |
Wholesaler, Suppliers and Distributors of Industrial Safety Apparels,
Safety Signage, Display Boards. |
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Products : |
·
Dust Bin |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS
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Capacity to increase production by : |
75% |
GENERAL
INFORMATION
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Suppliers : |
Own Set up |
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No. of Employees : |
7 |
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Bankers : |
ICICI Bank Limited Gurgaon, Haryana, India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
Not Available |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.0.300 million |
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Borrowed : |
- |
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Total : |
Rs.0.300 million |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2008 |
31.03.2007 |
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Sales Turnover |
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2.500 |
2.000 |
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Profit/Loss for the year |
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11% |
11% |
Expected Sales (2008-09) : Rs.3.000 millions
LOCAL AGENCY
FURTHER INFORMATION
Trustseal Acceptance Chart
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Parameters |
Details |
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Existence Verification |
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Name |
M K SAFETY SALES |
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Address |
Raj Nagar, Near Mell Fort Motel, Delhi Haipur Highway, Gurgaon – 122
001, Haryana, India |
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Phone/ Mobile Numbers |
91-9810249568 / 9810397568 |
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Statutory Approvals |
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Legal Status of Firm |
Proprietorship Company |
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Income Tax Registration |
ALXPK0265D |
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VAT/ TIN Registration |
*06061926342 |
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Name of Bank |
ICICI Bank Limited, Gurgaon, Haryana, India |
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Credibility Factors |
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Years of Establishment |
1996 |
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Turn Over |
Rs.2.500 millions |
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Turn Over Year |
*2008 |
Web Details
Profile
Since its inception in the year 1996, they
have grown to a notable name as wholesale suppliers and distributors of
industrial safety apparels, safety signage, display boards etc. Over the years they
have carved a niche in industrial supply sector by offering high quality
products which stand accurate in dimensions and available in elegant designs
and striking colors.
Under the thoughtful guidance of the mentor Mr. Mukesh Kumar the team of procurement
experts and marketing professionals has brought them a wide clientele. They
have deep understanding of client’s requirements that encourage them to proceed
with innovative ideas in order to provide appropriate products used for safety
purposes.
They consistently work on extending the range of products they offer that
enable them to meet varying industrial needs. This range of useful products
successfully meets the requirements of road safety, signage arrangements etc.
that are always on high demand.
Product Profile
They are well versed with the needs of
various sectors for safety and other significant purposes that motivate them to
augment the assortment of useful products. This extensive assortment include
safety apparels, matting solutions, road safety products, dust bin, safety
signage, glow sign boards, exhibition boards, barricade stands, outdoor
direction board, aluminum panel board, welcome board, SS and Brass etching
plates and many more. These products are quite useful and widely praised by the
client’s owing to the striking features the have including:
- Durability
- Excellent
finish
- Sustaining in
varying weather conditions
- Elegant
design & color
- Complete
safety
- High quality
- High
performance
Team
They have employed competent professionals
in the team which include procurement experts, quality inspectors, business
managers and marketing personnel. These professionals endeavor to keep
themselves abreast with the latest developments, related to their field of
expertise, taking place in the distribution and supply sector. They have years
of experience in dealing with vendors, suppliers, clients and every concerned
person in the sector. They listen to the suggestions and requirements of the
clients and suppliers cautiously in order to provide solutions that are
required to them. Owing to these factors the team has brought them a huge
clientele which is still growing.
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
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.48.86 |
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UK Pound |
1 |
Rs.84.22 |
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Euro |
1 |
Rs.65.51 |
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 |
4 |
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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 |
4 |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
4 |
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--RESERVES |
1~10 |
4 |
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--CREDIT LINES |
1~10 |
4 |
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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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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
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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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