MIRA
INFORM REPORT
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Report Date : |
30.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
UNISTEEL AND ENGINEERING COMPANY PRIVATE LIMITED |
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Registered Office : |
52/52A, Islampura Street, Nagar Alaankar Cinema, Mumbai-400004,
Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
17.11.1995 |
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Com. Reg. No.: |
11-94565 |
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CIN No.: [Company
Identification No.] |
U28920MH1995PTC094565 |
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PAN No.: [Permanent
Account No.] |
AAAC42274M |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer, Trader and Importer of Ferrous and Non- Ferrous Metals,
Tubes stainless steel pipes, thermocouple and Heating wires Alloys |
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 11000 |
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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 company having satisfactory track. Trade
relations are fair. Payments are reported as slow but correct. The company can be considered normal for business dealings at usual
trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Kishor |
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Designation : |
Director |
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Contact No.: |
91-9869037010 |
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Date : |
29.08.2008 |
LOCATIONS
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Registered Office/ Factory : |
52/52A, Islampura Street, Nagar Alaankar Cinema, Mumbai-400004, Maharashtra,
India |
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Tel. No.: |
91-22-23817333/ 23806452/ 66394950 |
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Mobile No.: |
91-987128877 |
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Fax No.: |
91-22-23864507 |
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E-Mail : |
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Area : |
270 sq ft ( Owned) |
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Warehouse : |
Plot No. 1108, Kalmobli District Raigarh, Maharashtra, India |
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Area : |
900 sq.,mt ( Rented) |
DIRECTORS
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Name : |
Mr. Kishor Shah |
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Designation : |
Director |
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Address : |
Pratiksha Tower, 1503/ 04, 15th Floor, R.S. Nagar Marg,
Mumbai-400008, Maharashtra, India |
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Date of Birth/Age : |
38 Years |
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Qualification : |
B.Com |
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Experience : |
18 Years |
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Date of Appointment : |
17.11.1995 |
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Name : |
Mr. Purkraj Shah |
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Designation : |
Director |
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Address : |
Pratiksha Tower, 1503/ 04, 15th Floor, R.S. Nagar Marg,
Mumbai-400008, Maharashtra, India |
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Date of Birth/Age : |
60 Years |
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Qualification : |
Graduate |
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Experience : |
30 Years |
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Date of Appointment : |
17.11.1995 |
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Name : |
Mr.Sachin Shah |
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Designation : |
Director |
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Address : |
Pratiksha Tower, 1503/ 04, 15th Floor, R.S. Nagar Marg,
Mumbai-400008, Maharashtra, India |
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Date of Birth/Age : |
33 Years |
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Qualification : |
B.Com |
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Experience : |
13 Years |
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Date of Appointment : |
17.11.1995 |
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Name : |
Mrs. Gayatri Shah |
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Designation : |
Director |
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Address : |
Pratiksha Tower, 1503/ 04, 15th Floor, R.S. Nagar Marg,
Mumbai-400008, Maharashtra, India |
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Date of Birth/Age : |
40 Years |
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Qualification : |
B.Com |
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Experience : |
2 Years |
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Date of Appointment : |
04.12.2003 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 30.09.2005
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Names of Shareholders |
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No. of Shares |
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Sachin Shah |
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500 |
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Pukhraj Shah |
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520 |
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Sumermal Shah |
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510 |
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Kishore Shah |
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5760 |
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Ritesh Shah |
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500 |
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Pukhraj Shah (HUF) |
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10 |
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Chunilal Shah |
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10 |
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Kiran Parmar |
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10 |
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Saytidevi Shah |
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10 |
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Pankhiben Shah |
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10 |
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Gayatri Shah |
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10 |
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Sumermal Shah (HUF) |
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10 |
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Rajendra Zuting |
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10 |
Equity Share Breakup (Percentage of Total Equity)
As on 27.08.2007
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Category |
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Percentage |
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Directors or relatives of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Trader and Importer of Ferrous and Non- Ferrous Metals,
Tubes stainless steel pipes, thermocouplel and Heating wires Alloys |
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Products : |
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Exports : |
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Countries : |
UAE |
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Imports : |
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Products : |
Slatins Tubes and Plastic Scrab |
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Countries : |
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Terms : |
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Selling : |
Credit ( 30 Days) and T.T |
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Purchasing : |
L/C and CAD Basis |
GENERAL
INFORMATION
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Customers : |
OEM’s |
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No. of Employees : |
61 (office 6, Factory 55) |
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Bankers : |
Bank of Baroda, Gulgalwadi, Mumbai-400004, Maharashtra, India |
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Facilities : |
CC Rs. 6.000 Millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
I C Surana and Company Chartered Accountant |
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Address : |
2nd Floor Kothari Building, 25 Abdul Rehman Street,
Mumbai-400003, Maharashtra, India |
CAPITAL STRUCTURE
As on 27.08.2007
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs. 100/- each |
Rs. 1.000 Million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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7950 |
Equity Shares |
Rs. 100/-
each |
Rs. 0.795
Million |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2007 |
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.795 |
0.795 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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1.451 |
0.783 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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2.246 |
1.578 |
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LOAN FUNDS |
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1] Secured Loans |
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8.283 |
0.000 |
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2] Unsecured Loans |
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32.504 |
27.004 |
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TOTAL BORROWING |
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40.787 |
27.004 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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43.033 |
28.582 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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2.887 |
1.616 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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0.000 |
0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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36.535 |
7.156 |
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Sundry Debtors |
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52.562 |
51.065 |
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Cash & Bank Balances |
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0.395 |
0.515 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
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3.629 |
1.391 |
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Total
Current Assets |
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93.121 |
60.127 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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0.000 |
0.000 |
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Provisions |
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52.975 |
33.161 |
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Total
Current Liabilities |
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52.975 |
33.161 |
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Net Current Assets |
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40.146 |
26.966 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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43.033 |
28.582 |
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PROFIT & LOSS
ACCOUNT
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Particulars |
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31.03.2008 |
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Sales Turnover |
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265.000 |
KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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Debt Equity Ratio (Total Liability/Networth) |
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41.74 |
38.13 |
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Current Ratio (Current Asset/Current Liability) |
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1.76 |
1.81 |
LOCAL AGENCY
FURTHER INFORMATION
TRUSTSEAL ACCEPTANCE CHART
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Parameters |
Details |
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Statutory Approvals |
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Income Tax Registration |
AAAC42274M |
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Central Sales Tax Registration |
27830005263- C |
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VAT/ TIN Registration |
27830005263 |
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Excise Registration |
AAACU2274MX001 |
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Import Export Code |
0306036321 |
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Name of Bank |
Bank of India |
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Current Account Number |
1439020000473 |
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Standards and
Certifications |
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Quality Management System |
ISO: 9000-2001 |
Trade References:
- Shree Renu Sugar Limited, Nanoli
- Acitve Carbon India Limited, Andhra Pradesh
- Kulshan Chemical Limited, Raja
AS PER WEBSITE
Profile:
Established in the year 1978,they
are one of the most trusted companies, engaged in the trade of ferrous and
non-ferrous metals. Their wide range comprise of Inconel Plate, Radiant Tubes,
Plates, Stainless Steel Pipes, Thermocouple Heating Wires, Titanium Sheet
Plates and High Nickel Base Super Alloys. They have developed a complete
understanding of the market and thus have identified possible sources from
where they procure these products so as to meet the requirements of the
clients. They are fully geared with the requisite technical expertise and
quality control mechanism, which ensures them in successful processing of bulk
orders as per the client’s requirements to offer him complete satisfaction.
Additionally, the streamlined administration, regular follow-ups with the
clients and quick order despatch enables them in winning the accolades of the
clients.
The Range of Products
They are associated with authorized and certified vendors from whom they
procure the wide range of ferrous and non-ferrous metals such as Inconel Plate,
Radiant Tubes, Plates, Stainless Steel Pipes, Thermocouple Heating Wires,
Titanium Sheet Plates and High Nickel Base Super Alloys. The range exhibits
some salient features, which makes it in high demand among the clients. These
features are:
Features:
- Corrosion Resistance
- Resistance to oxidation
- Excellent elevated temperature strength
- Resistance to creep deformation and environmental attack
Pertaining to the quality and characteristics
of these products, these are widely required in diverse industries and sectors
for varied applications. Some of the industries and sectors, where these are
highly required are
- Power
- Petrochemical
- Agro
chemicals
- Defense
- Paper and Pulp
Industries
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 records 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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.43.79 |
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UK Pound |
1 |
Rs.80.05 |
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Euro |
1 |
Rs.64.56 |
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 |
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 |
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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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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