MIRA
INFORM REPORT
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Report Date : |
01.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
RATILAL KINKHABWALA AND SONS |
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Registered Office : |
4/523, Mapra Street, Begumpura, Surat – 395 003, Gujarat |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
2004 |
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IEC No.: |
5205002921 |
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PAN No.: [Permanent
Account No.] |
ABTPK3017B |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer, Exporter and Importer of Zari, Imitation Zari, Real
Zari. |
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 2500 |
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Status : |
Small Concern |
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Payment Behaviour : |
Slow |
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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. Payments are reported as slow but
correct. The concern can be considered for small to mediocre business dealings. |
INFORMATION PARTED
BY
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Name : |
Mr. Sanmukhbhai |
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Designation : |
Manager |
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Contact No.: |
91-9374725946 |
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Date : |
19.08.2008 |
LOCATIONS
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Registered Office / Factory : |
4/523, Mapra Street, Begumpura, Surat – 395 003, Gujarat, India |
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Tel. No.: |
91-261-6597005 |
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Mobile No.: |
91-9374725946 |
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Fax No.: |
91-261-2436684 |
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E-Mail : |
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Area : |
250 Sq. ft. |
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Location : |
Owned |
PROPRIETOR
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Name : |
Mr. Ratilal |
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Designation : |
Proprietor |
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Date of Birth/Age : |
75 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Exporter and Importer of Zari, Imitation Zari, Real
Zari. |
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Products : |
v
Immitation
Real Zari Threads v
Zari |
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Exports : |
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Countries : |
v Thailand v Egypt v Gulf Countries |
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Imports : |
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Countries : |
v Japan v China |
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Terms : |
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Selling : |
Cash and Credit ( 30 – 60 days), Telegraphic Transfer |
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Purchasing : |
Telegraphic Transfer |
GENERAL
INFORMATION
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Customers : |
v Wholesalers |
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No. of Employees : |
Total : 20 (Office : 5, Factory : 15) |
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Bankers : |
v Bank of India Main Branch, Surat |
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Auditors : |
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Name : |
Mr. A T Shah Chartered Accountants |
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Address : |
Surat |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 0.500 million (Estimated) |
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Borrowed : |
-- |
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Total : |
Rs. 0.500 million (Estimated) |
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 (as Claimed) |
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4.000 |
Expected Sales (2008-09): Rs. 10.000 millions
LOCAL AGENCY
FURTHER INFORMATION
Trust Seal
Acceptance Chart
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Parameters |
Details |
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Existence Verification |
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Name |
RATILAL KINKHABWALA AND SONS |
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Statutory Approvals |
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Income Tax Registration |
ABTPK3017B |
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Central Sales Tax Registration |
24722101583 |
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State Sales Tax Registration |
24222101583 |
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Import Export Code |
5205002921 |
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Name of Bank |
Bank of India |
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Current Account Number |
270020100013069 |
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Account Since |
2006 |
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Credibility Factors |
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India Mart Client Since |
4 Years |
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Trade Affiliations |
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SSI Registration |
24/2246940 dt: 01.12.2004 |
As Per Website Details
Incepted in 2004, Subject are
pioneers in the arena of manufacturing and exporting attractive zari threads
which are used for various embroidery patterns on apparels and garments. The
product range includes: Rayon Thread- Plastic Zari (Metallic yarn based),
Viscose yarn-Plastic zari (Metallic yarn based), Polyster zari thread(Metallic
yarn based), Embroidery Zari Threads- Plastic zari (Metallic yarn based), Socks
Thread(Metallic yarn based), Imm/Real Zari Cotton Thread (Silver/Gold based/Copper
based) and Imm/Real Zari (Silver/Gold based/Copper based).
Manufactured and developed using superior quality raw materials, they have been
procured from reliable vendors and suppliers. They have a team of specialists
who are well versed with the production techniques and utilize their knowledge
and skills to develop products with great competence and expertise. They also
use innovative techniques to produce these threads according to the client's
demands and requirements.
Product
v Rayon Thread- Plastic Zari (Metallic yarn based)
v Viscose yarn-Plastic zari (Metallic yarn based)
v Polyster zari thread(Metallic yarn based)
v Embroidery Zari Threads- Plastic zari (Metallic yarn based)
v Socks Thread(Metallic yarn based)
v Fancy Sadi Salma Kangi Chalak
v Imm/real zari sadi/salma/kangi /chalak(Naksi/Khukan)
v Imm/Real Zari Cotton Thread (Silver/Gold based/Copper based)
v Imm/Real Zari (Silver/Gold based/Copper based).
Raw Materials Used
They use
premium quality of raw materials like: silver, gold and metallic yarn. The raw
materials used are procured from reliable sources who share a good market
goodwill. The raw materials are also tested by experts on various factors to
ensure that they are the most suitable ones and can enhance the value of the
manufactured products.
Manufacturing Facility
They
have a well equipped state-of-the-art manufacturing unit which is well equipped
with all the modernized and hi tech machines like: covering machine, holo high
speed machine, etc. All these machines are handled and operated by the experts
in order to meet the desired production targets and the set deadlines. Spread
in an area of 250 sq. ft., they have successfully achieved an annual turnover
of Rs. 20.000 millions with a production capacity of 5 tonnes.
Team
They have a team of
12 specialists who have complete market knowledge and understanding of the
production process. They pay detailed attention to every aspect while producing
these threads so as to ensure that they are of the superior quality. The
experts also train the workforce in the manufacturing unit to enhance their
efficiency and update their knowledge about the current technology. The team
works in complete harmony with each other. They completely follow the concern
policies and guidelines to increase the production output.
Clients
They are committed
to achieve 100% customer satisfaction by providing the products at competitive
prices. Strict adherence to time and delivery schedules has enabled us to cater
to high profile clients from all across the globe. The talented professionals
work with complete dedication to achieve the specified targets and export
products to Gulf, Thailand and Egypt.
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 :
The 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.
The 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. 44.21 |
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UK Pound |
1 |
Rs. 79.76 |
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Euro |
1 |
Rs. 64.72 |
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, they have no basis upon which to
recommend credit dealings |
No Rating |
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