MIRA
INFORM REPORT
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Report Date : |
24.10.2008 |
IDENTIFICATION DETAILS
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Name : |
V B S ASSOCIATES |
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Registered Office : |
3, |
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Country : |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
2003 |
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PAN No.: [Permanent
Account No.] |
BAEPS4265C |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer of Decomposable Designer Paper cup, Ice Cream Cup and
Coffee mug etc. |
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 5000 |
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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 relatively small concern in its field. Trade relations
are fair. Scale of activity is limited. No complaints can be heard against the subject. The concern can be considered for small to mediocre business dealings.
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INFORMATION PARTED BY
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Name : |
Mr. V. Baalasanmugam |
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Designation : |
Manager |
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Contact No.: |
91-9840345356 |
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Date : |
23.10.2008 |
LOCATIONS
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Registered Office/Factory : |
3, Ethiraj Lane, Moses St, Gandhi Nagar, Avadi, Chennai – 600 054,
Tamilnadu, India |
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Tel. No.: |
91-44-26372155 |
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Mobile No.: |
91-9840345356 |
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E-Mail : |
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Area : |
2400 Sq. ft. plus Factory |
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Location : |
Rented |
SOLE PROPRIETOR
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Name : |
Mrs. T Shanmugapriya |
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Designation : |
Proprietor |
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Date of Birth/Age : |
28 Years |
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Qualification : |
M.Com. |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Decomposable Designer Paper cup, Ice Cream Cup and
Coffee Mug etc. |
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Products : |
·
Mugs |
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Terms : |
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Selling : |
Cash and Credit (30 days) |
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Purchasing : |
Credit (30 days) |
GENERAL INFORMATION
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Suppliers : |
·
Pandian Paper Company, Chennai ·
Rose Flower Paper Company, Chennai |
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Customers : |
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Wholesalers ·
Retailers ·
End Users ·
Aspire Systems Private Limited, Chennai ·
Johnson and Johnson, Chennai |
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No. of Employees : |
8 (Office 2 and Factory 6) |
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Bankers : |
State Bank of India Avadi Branch, Chennai – 600 054, Tamilnadu, India |
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Facilities : |
CC Rs.0.300 million |
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Banking
Relations : |
- |
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Auditors : |
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Name : |
L Ravi Chartered Accountants |
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Address : |
Valasaravakkam, Chennai – 600 087, Tamilnadu, India |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.1.000 million |
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Borrowed : |
- |
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Total : |
Rs.1.000 million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
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Particulars |
31.03.2008 |
31.03.2007 |
31.03.2006 |
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Sales Turnover |
3.600 |
1.900 |
0.900 |
Expected Sales (2008-09) : Rs.5.000 millions
LOCAL AGENCY FURTHER INFORMATION
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Additional
Requirement of Indiamart for Trust-Seal |
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Service Tax No. : -- |
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Excise Registration No.: -- |
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VAT / TIN : 33921301762 |
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IEC Code : -- |
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PAN / TAN : BAEPS4265C |
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Bank Name : State Bank of India |
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Bank Address : Avadi Branch, Chennai |
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Bank A/c. No.: 30046534232 |
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Account Since : 3 Years |
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In case of any affiliations / memberships / certifications : |
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Name : -- |
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Type : -- |
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Expiry Date : -- |
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Trade References
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Aspire Systems Private Limited, Chennai
·
Johnson and Johnson Limited
Web Details
Profile
Subject was incorporated in the year 2005 to manufacture, export and supply decomposable designer paper
cup, ice cream cup, coffee mug etc. They are one of the largest manufacturers
of paper products in India. The company is headed by Mr. V. Baalasanmugam who
has proved his mettle with his able guidance and vast industry experience. They
are an environment conscious firm and are concerned for global warming. All the
paper products are absolutely safe and biodegradable, ideally using composting
methods. The paperboard cups are widely used in corporate units, where extreme
care is given to the health of the employees, and in special occasions or
gatherings and at public utilities. These PE coated cups are absolutely safe
for use in homes as well.To support the convenient and fast production of the
eco-friendly paper products they have installed latest machines at the
manufacturing unit. The professionals ensure delivery of the products as per
stipulated time .
Team of Experts
They have an extremely competent team of
qualified professionals who possess in-depth knowledge in their respective
field of operation. The experts strive to manufacture products with utmost
detail to meet customer requirements. They make sure that all the finished
paper-board cups are have undergone through essential stages such as coating,
finishing, testing, etc. They ensure on-time delivery of the products and keep
track of the consignments in transit. They nurture a team of customer service
executives who keep the customers notified with all the necessary details
regarding their orders, with great enthusiasm and credibility. They leave no
stone unturned in resolving the grievances or complaints of the valuable
clients.
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.49.79 |
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UK Pound |
1 |
Rs.81.27 |
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Euro |
1 |
Rs.63.91 |
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 |
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 |
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 |
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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30 |
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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