MIRA
INFORM REPORT
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Report Date : |
31.10.2008 |
IDENTIFICATION DETAILS
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Name : |
GOKUL EXIMP |
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Registered Office : |
25-A, Juhu Supreme Shopping Centre, Gulmohar Road, No. 9, JVpD
Scheme, Vile Parle (West), Mumbai – 400 049, Maharashtra |
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Country : |
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Financials (as on) : |
31.03.2008 (Estimated) |
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Year of Establishment : |
1989 |
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Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners. |
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Line of Business : |
Manufacturer and Exporter of Dyes and Chemicals |
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 13000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established traders. Trade relations are fair. Payments
are reported as slow. However, the concern can be considered normal for
business dealings at usual trade terms and conditions. |
INFORMATION PARTED BY
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Name : |
Mr. N Agarwal |
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Designation : |
Partner |
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Contact No.: |
91-9820024339 |
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Date : |
20.10.2008 |
LOCATIONS
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Registered Office/ Factory : |
25-A, Juhu Supreme Shopping Centre, Gulmohar Road, No. 9, JVpD
Scheme, Vile Parle (West), Mumbai – 400 049, Maharashtra,
India |
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Tel. No.: |
91-22- 66923698 / 65533094 / 66781991 |
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Mobile No.: |
91-9820024339 |
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Fax No.: |
91-22-26113979 / 26246667 |
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E-Mail : |
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Website : |
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Area : |
300 Sq.fts |
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Location : |
Owned |
PARTNERS
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Name : |
Mr. Navin Agarwal |
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Designation : |
Partner |
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Date of Birth/Age : |
49 years |
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Qualification : |
Chartered Accountants |
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Name : |
Mrs. Sunita Khetan
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Designation : |
Partner |
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Date of Birth/Age : |
44 years |
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Qualification : |
B. A. |
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Name : |
Mrs. Anju Agarwal |
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Designation : |
Partner |
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Date of Birth/Age : |
47 years |
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Qualification : |
B.a. |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Dyes and Chemicals |
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Products : |
·
Dyestuff ·
Dye Intermediates ·
Agricultural Products ·
Spices ·
Indian Snacks ·
Carpet ·
Handmade Paper and Madeups ·
Handicrafts ·
Bulk Drugs and Intermediates ·
Cosmetic Chemicals ·
Optical Brighteners and
Whitening Agents ·
Ultramarine Blue ·
Other products
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Exports : |
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Countries : |
Europe |
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Terms : |
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Selling : |
L/C, Cash, Credit (30 day) |
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Purchasing : |
Cash |
GENERAL INFORMATION
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Customers : |
Retailers |
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No. of Employees : |
5 |
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Bankers : |
Andhra Bank, JVP Branch, Vile Parle (West), Mumbai-400 045, Maharashtra, India |
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Facilities : |
The concern do not enjoy facility from its bankers. |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
A S Gujaral and Company Chartered Accountants |
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Address : |
Mumbai, Maharashtra, India |
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Memberships : |
· Basic Chemicals · Pharmaceuticals and Cosmetics Export Promotion Council of India (Chemexil), Federation of Indian Export Organizations (F.I.E.O) · S.E.P.C and Institute of Management Consultants (I.M.C.) |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 2.500 millions (Estimated) |
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Borrowed : |
--- |
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Total : |
Rs. 2.500 millions (Estimated) |
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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150.000 |
Expected Sales (2008-09): Rs. 150.000 millions
LOCAL AGENCY FURTHER INFORMATION
WEBSITE DETAILS:-
Subject is the manufacturer, exporter and importer of a versatile range of goods which includes Agricultural Products, Fruits, Dyestuff, Dye Intermediates, Carpets, Paper and Paper Products, Perfume Bottles, etc.
They have been exporting their products since 25 years. Their management is
focused on product development, quality control and standardization. All their
products are derived through rigorous research and produced in state-of-the-art
facilities. No wonder; leading organizations, departments, multinational
companies and many others rely on their products for their diverse needs. Owing
to the premium quality of their products, they export 75% of their products to
the international markets.
Their concern is an affiliated member of the prestigious
Basic Chemicals, Pharmaceuticals and Cosmetics Export Promotion Council of
India (Chemexil), Federation of Indian Export
Organizations (F.I.E.O), S.E.P.C and Institute of Management Consultants
(I.M.C.). The concern's Star Export House has been recognized by the
Ministry of Commerce, Government of India.
Quality Assurance
Established in 1990, the concern has come a long way in the manufacture, export and import of a wide and diverse collection of products. Today, they stand as one of the most trusted and reputed brand names amongst all the customers in the Industry. The quality of their products is assured by well defined Quality Policy and procedures which are in conformance with the International standards.
Their quality
assurance plan is guided by the urge to provide uncompromising quality to their
valued customers, so as to ensure long lasting satisfaction. Each product
undergoes a prescribed range of tests based on industrial parameters under the
supervision of their quality inspectors. They also develop customized products
as per specifications of the buyers.
Infrastructure
The success of the concern is the culmination of selective and well-trained
manpower, planning and professionalism. Their concern has an in-house team of
engineers. The concern trains and directs this team in context to intricacies
related to different industries. Furthermore, this team follows the best
practices in the concerned business and ensures high quality. Their production
process conforms to the international standards of manufacturing and strictly
adheres to schedules.
The large
storehouse is another asset of their concern, which enables them to meet any
unforeseen demands arising due to market forces. They are committed to serve
their customers in the best way possible and have been able to reach high
levels of customers' satisfaction by soliciting feedback from the customers on
an ongoing basis.
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.49.77 |
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UK Pound |
1 |
Rs.79.78 |
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Euro |
1 |
Rs.63.36 |
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 |
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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45 |
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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