MIRA
INFORM REPORT
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Report Date : |
27.10.2008 |
IDENTIFICATION DETAILS
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Name : |
TIRUPATI RUBBER AND PLASTIC INDUSTRIES |
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Registered Office : |
30, |
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Country : |
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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.] |
AAOPJ5798C |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Trading of Rubber Components. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 7500 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established trader. Trade relations are fair.
Payments are usually correct and as per commitments. Trade relations are
fair. The concern can be considered normal for business dealings at usual
trade terms and conditions. |
INFORMATION PARTED BY
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Name : |
Mr. Sanjay Keer |
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Designation : |
Manager |
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Contact No.: |
91-9820066472 |
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Date : |
22.10.2008 |
LOCATIONS
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Registered Office : |
30, |
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Tel. No.: |
91-22-65297490 |
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Mobile No.: |
91-9820066472 ( Mr. Sanjay Keer) |
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Fax No.: |
91-22-23453637 |
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Website : |
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Area : |
2800 sq ft |
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Location : |
Rented |
SOLE PROPRIETOR
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Name : |
Mr. Rahul Jain |
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Designation : |
Proprietor |
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Date of Birth/Age : |
30 Years |
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Qualification : |
B.COM |
BUSINESS DETAILS
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Line of Business : |
Trading of Rubber Components. |
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Terms : |
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Selling : |
Cash and Credit (30 days) |
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Purchasing : |
Cash and Credit (30 days) |
GENERAL INFORMATION
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Customers : |
Wholesalers, Retailers, End Users |
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No. of Employees : |
7 |
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Bankers : |
Union Bank of |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Garodia and Company, Chartered Accountant |
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Address : |
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Associates/Subsidiaries : |
Shri Tirupati Rubbers. Address: 30, Line of Business: Trading of Rubber Components. |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 1.500 Millions |
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Borrowed : |
NA |
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Total : |
Rs. 1.500 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
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Particulars |
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31.03.2008 |
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Sales Turnover |
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6.000 |
Expected Sales (2008-09) Rs 7.500 Millions
LOCAL AGENCY FURTHER INFORMATION
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Additional
Requirement of Indiamart for Trust-Seal |
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VAT / TIN : 27600366666 |
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PAN / TAN : AAOPJ5798C |
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Bank Name : Union Bank of |
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Bank Address : |
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Bank A/c. No.:130100 |
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Account Since : 12 Years |
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Profile:
Established in the year 1996, Subject located in Mumbai,
is a prominent firm engaged in supplying gamut range of rubber industry supplies.
Thye are one of the leading authorized suppliers of rubber components to
domestic market of
The Concern was founded by Mr. Sanjay Keer and under his capable
guidance; they execute their organizational activities in a dexterous and
proficient manner. They source the rubber components from reliable and reputed
manufacturers from local market,
The Concern has achieved tremendous growth in span of more than 10 years by
trading varied range of rubber supplies. Their customized solution providing
approach has carved a niche for them in the trade. Number of potential
customers for their exotic range of rubber components is retained due to their
qualitative solution providing service.
Product Portfolio:
They are engaged in providing length of rubber based industrial supplies
such rubber profiles, industrial rubber sheets,
industrial rubber hose, flexible rubber hoses, pvc green suction hose, pvc
flexible hoses, industrial fittings, p.v.c.duct hose profile, pvc water stopper
seal, electrical mats, hydraulic hoses fitting to various industries including
chemical, construction, industrial and packaging. Raw material used for the
rubber components are fine quality rubber, plastic, neoprene.
Their assortments of the industry supplies are known for following
features among their potential
customers:
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Durability
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Moisture resistant
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Abrasion and corrosion resistance
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Withstand acid, alkaline, chemical corrosion
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Free from leakage
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Wide dimensions in size and thickness
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Superior flexibility
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Better physical specification
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Light weight
Industries Catered To:
Empowered with availability of quality rubber components from reliable
source based in Mumbai,
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Chemical
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Construction
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Packaging industry
Their Workforce:
Due to tough competition in the business domain they hire expert
personnel to meet various rubber supplies based industries client requirements.
Their workforce is responsible to provide delight solution for clients’
industrial requirements.
Their team consists of quality inspectors, market personnel and others. Working
professionals of Their company ensure that all the optimized and standardized
options are used for maintaining the performance and reliability of their
products. It is mandatory for them to serve all their customers efficiently and
attentively to assist them in vertical growth in their business domain.
Quality Assurance:
Their expert group assure of providing wide range of rubber industrial
supplies which is sourced from very reliable manufacturers. The rubber
components are checked minutely by their quality inspectors for their specific
standards in accordance with client specification. Raw material such as rubber,
plastic, stainless steel is of high quality in terms of durability, resistance
to corrosion, high temperature and others.
Client Satisfaction:
Business policy of Subject is made keeping in mind for 100% client
satisfaction. They are always on a watch to search a better solution to their
clients’ industrial requirement. Their approach in business is highly customer
centric to garner customer delighting.
Providing more convenience to their clients they facilitate with various
following modes of payment:
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Bank
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Cash
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Demand Draft
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E-payment
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The Concern also facilitates their clients with
package consignments as per their specification
Customization:
Their work force has been chiefly concerned with meeting the needs and
specifications provided by the customers. The team of quality inspectors takes
care of minute details provided by their clients are incorporated in the final
product.
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.49.95 |
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UK Pound |
1 |
Rs.79.56 |
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Euro |
1 |
Rs.63.65 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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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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46 |
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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