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MIRA
INFORM REPORT
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Inquiry Date : |
19.09.2008 |
IDENTIFICATION
DETAILS
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Name: |
SAMCO ALLOYS (INDIA) PRIVATE LIMITED |
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Registered Office : |
Rithani, Delhi Road, Meerut -250 103 Uttar Pradesh |
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Country : |
INDIA |
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Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
28.03.1990 |
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Com. Reg. No.: |
11262 |
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CIN No.: [Company
Identification No.] |
U27101UP1989PTC011262 |
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IEC No.: |
0506013049 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MRTS00269D |
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PAN No.: [Permanent
Account No.] |
AABCS9387E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Exporter of Automobile Parts. |
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 39000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is well established company having satisfactory track. Trade relations
are fair. Financial position is satisfactory. Payments are usually correct
and as per commitments. The company can be considered good for normal business dealings at
usual trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Chranjeet Singh Sethi |
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Designation : |
Director |
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Contact No.: |
91- 983702228 |
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Date : |
15.09.2008 |
LOCATIONS
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Registered Office/ Factory : |
Rithani,Delhi Road, Meerut- 250 103,Uttar Pradesh India. |
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Tel. No.: |
91-121-2441801/2441802/2441804/3290987/3293628 |
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Mobile No.: |
91-9837005050,983702228 |
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Fax No.: |
91-121-2441803 |
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E-Mail : |
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Website : |
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Area : |
32120 sq ft |
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Location : |
Owned |
DIRECTORS
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Name : |
Mr. G S Sethi |
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Designation : |
Director |
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Address : |
130/2, Thapar Nagar, Meerut |
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Date of Birth/Age : |
20.12.1952 |
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Qualification : |
Graduation |
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Experience : |
30 Years |
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Name : |
Mr. C. S Sethi |
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Designation : |
Director |
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Address : |
130/2,Thapar Nagar, Meerut |
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Date of Birth/Age : |
08.051978 |
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Qualification : |
Graduation |
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Experience : |
12 Years |
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Name : |
Mr. T. S Sethi |
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Designation : |
Director |
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Address : |
130/2, Thapar Nagar, Meerut |
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Date of Birth/Age : |
08.05.1978 |
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Qualification : |
Graduation |
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Experience : |
12 Years |
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Name : |
Mrs. H.K Sethi |
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Designation : |
Director |
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Address : |
130/2, Thapar Nagar, Meerut |
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Date of Birth/Age : |
10.10.1959 |
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Qualification : |
Graduation |
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Experience : |
5 Years |
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Name : |
Mrs. Prabhbani Sethi |
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Designation : |
Director |
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Address : |
130/2, Thapar Nagar, Meerut |
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Date of Birth/Age : |
23.11.1979 |
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Qualification : |
Graduation |
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Experience : |
2 Years |
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Name : |
Mr. Vaneet Kaur Sethi |
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Designation : |
Director |
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Address : |
130/2, Thapar Nagar, Meerut |
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Date of Birth/Age : |
23.12.1978 |
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Qualification : |
Graduation |
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Experience : |
2 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Automobile Parts |
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Products : |
·
Two Wheeler Bushes ·
Tractor Part Bushes ·
Automobile Bushes ·
Customize Non Ferrous Bushes ·
Bronze Bushes ·
Non Ferrous Hollow and Solid Rod ·
Non Ferrous Metal Scrap. ·
Automobile Leaf Spring Bushes ·
Bell crank Bushes ·
King Pins Bushes ·
Hydraulic Pump Bushes ·
Thrust Washers ·
Pinion Washers ·
Pinion Star kit ·
Bell Crank Lever Bushes ·
Tractor parts |
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Brand Name: |
Bogra Bronze |
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Exports : |
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Countries : |
Asian Countries |
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Terms : |
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Selling : |
LC, Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS
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Particulars |
Unit |
Actual
Production |
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Bushes and Thrust Washers |
Nos. |
2074835 |
GENERAL
INFORMATION
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Customers : |
·
Tata Motors ·
Ashok Leyland |
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No. of Employees : |
70 (10 in office and 60 in factory) |
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Bankers : |
UCO Bank Begum Bridge Road, Meerut, Uttar Pradesh, India |
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Facilities : |
Rs.20.000 Millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
. |
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Name : |
Aggrwal Kamal and Company Chartered Accountant |
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Address : |
Westren Kacheri Road, Meerut |
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Mobile No.: |
91- 9897195242 |
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Fax No.: |
91- 121-2660677 |
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E-Mail : |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
|
25000 |
Equity Share |
Rs.100/- Each |
Rs.2.500 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
25000 |
Equity Share |
Rs.100/- Each |
Rs.2.500 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
2.500 |
2.500 |
2.500 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
5.296 |
3.673 |
1.843 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
7.796 |
6.173 |
4.343 |
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LOAN FUNDS |
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1] Secured Loans |
16.370 |
20.649 |
1.832 |
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2] Unsecured Loans |
25.896 |
26.873 |
26.274 |
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TOTAL BORROWING |
42.266 |
47.522 |
28.106 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
50.062 |
53.695 |
32.450 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
7.662 |
7.415 |
6.716 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
25.036
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30.461 |
9.626 |
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Sundry Debtors |
27.444
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25.467 |
16.796 |
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Cash & Bank Balances |
1.054
|
1.521 |
0.974 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
2.068
|
1.784 |
3.317 |
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Total
Current Assets |
55.602
|
59.233 |
30.713 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
12.202
|
12.954 |
4.980 |
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Provisions |
1.000
|
0.000 |
0.000 |
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Total
Current Liabilities |
13.202
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12.954 |
4.980 |
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Net Current Assets |
42.400
|
46.280 |
25.734 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
50.062 |
53.695 |
32.450 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
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Sales Turnover |
165.282 |
174.743 |
81.758 |
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Other Income |
0.014 |
7.687 |
007.502 |
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Total Income |
165.296 |
174.750 |
89.26 |
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Profit/(Loss) Before Tax |
2.853 |
2.859 |
0.889 |
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Provision for Taxation |
1.000 |
9.000 |
0.350 |
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Profit/(Loss) After Tax |
1.853 |
1.959 |
539.342 |
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Total Expenditure |
162.443 |
171.891 |
88.371 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2008 |
31.03.2007 |
31.03.2006 |
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PAT / Total Income |
(%) |
1.12 |
1.12
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0.65 |
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Net Profit Margin (PBT/Sales) |
(%) |
1.73 |
1.64
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1.08 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
4.51 |
4.2
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2.62 |
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Return on Investment (ROI) (PBT/Networth) |
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0.36 |
0.46
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4.8 |
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Debt Equity Ratio (Total Liability/Networth) |
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7.11 |
9.79
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7.62 |
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Current Ratio (Current Asset/Current Liability) |
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4.21 |
4.57
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5.5 |
LOCAL AGENCY
FURTHER INFORMATION
Trustseal Acceptance Chart
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Parameters |
Details |
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Existence Verification |
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Name |
SAMCO ALLOYS (INDIA) PRIVATE LIMITED |
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Address |
Delhi Road, Rithani, Meerut -250103 |
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Phone/ Mobile Numbers |
91-121-2441801 / 802, 91- 983702228 |
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Fax Numbers |
91-121-2441803 |
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Statutory Approvals |
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Legal Status of Firm |
Private Limited Liability Company |
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Income Tax Registration |
AABCS9387E |
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Central Sales Tax Registration |
MR-5210276 Date : 27.12.1989 |
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State Sales Tax Registration |
MR-0374442 Date : 02.12.1989 |
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Service Tax Registration |
AABCS9387EST001 |
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VAT/ TIN Registration |
9978500273 |
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Excise Registration |
AABCS9387E-XM-001 |
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Import Export Code |
0506013049 |
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Name of Bank |
UCO Bank, Meerut |
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Current Account Number |
C/C1909 |
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Account Since |
1990 |
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Emp PF Reg Number |
UP/17411 |
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Company ESI Reg. Number |
21-7899-66 |
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Credibility Factors |
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IndiaMART Client Since |
2005 |
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Years of Establishment |
1990 |
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Turn Over |
Rs.165.200 millions |
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Turn Over Year |
Rs.174.700 millions |
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Trade Affiliations |
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SSI Registration |
090071101513 |
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Standards & Certifications |
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Quality Management Systems |
ISO 9001 : 2000 Certified |
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Other Cerficates |
Implementation of TS 16949 |
Website details
Profile
·
One of the largest manufacturer of
automobile leaf springs bushes, bell crank bushes, king pins bushes, thrust
washers, hydraulic pump bushes, tractor parts in India.
·
Original Equipment Suppliers to
Tata Motors and Ashok Leyland.
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Unit approved for OE supplies to
Ashoka Leyland
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An ISO 9001 - 2000 Certified
Company
Subject is a name to reckon with as a manufacturer and exporter of
quality range of high performance bushes manufactured from high quality bronze
alloy.
Situated at Rithani, Meerut,
Subject is the pioneer in the field of Bush manufacture by continuous casting
machine under the brand name Bogra. Today the high precision quality products
manufactured at Subject -an ISO 9001-2000 Company include non-ferrous bushes,
thrust washers, pinion washers, pinion star kit, hollow rods, bell crank
bushes, hydraulic pump bushes & tractor parts.
Today, as an original equipment
manufacture Bogra has earned a valuable place for itself in the highly
competitive heavy automobile sector due to its excellent quality and
competitive pricing. No wonder then, all reputed names in heavy vehicles and
tractor are included in the impressive list of subject clientele and the list
has kept on expanding as the company also manufacture products tailor made to
clients requirement.
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.46.34 |
|
UK Pound |
1 |
Rs.82.96 |
|
Euro |
1 |
Rs.65.82 |
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 |
6 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
6 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
6 |
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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 |
|
54 |
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
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|