MIRA INFORM REPORT
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Report Date : |
14.04.2011 |
IDENTIFICATION DETAILS
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Name : |
SMR LENS |
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Registered
Office : |
3 and 4, Vijay Industrial Estate, Link Road, Chincholi Bunder, Malad
(West), Mumbai – 400064 |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Year of
Establishment : |
1996 |
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Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners |
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Line of Business
: |
Dealer of Opthalmic Surgical Product |
RATING & COMMENTS
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MIRA’s Rating : |
B (28) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is an established partnership concern having moderate track.
Mr. Swapnil, sales manager provided to us few general information and denied to
disclose financial details. However, Trade relations are reported as fair.
Business is active. Payments are unknown. The concern can be considered for business dealings with some caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INFORMATION PARTED BY (General Details)
|
Name : |
Mr. Swapnil |
|
Designation : |
Sales Manager |
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Contact No. : |
91-9867017429 |
|
Date : |
02.04.2011 |
LOCATIONS
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Registered Office/Factory : |
3 and 4, Vijay Industrial Estate, Link Road, Chincholi Bunder, Malad
(West), Mumbai – 400064, India |
|
Tel. No.: |
91-22-28759304 / 05 / 66950141 |
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Mobile No.: |
91-9867017429 (Mr. Swapnil) |
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Fax No. : |
91-22-28759666 |
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Email : |
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Website : |
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Corporate Office : |
209, Linkway Estate, New |
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Tel. No.: |
91-22-28759304 / 05 / 56950141 / 42 |
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Fax No.: |
91-22-28759666 |
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E-Mail : |
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Branch Office : |
Bangalore : No.E2, Shikhara
Nilaya, Murthappa Garden, 26th Main, 17th Cross, 6th
Phase, J. P. Nagar, Bangalore – 460078, India |
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Tel. No.: |
91-9343981709 / 9343045962 / 9945051056 |
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Branch Office : |
Mumbai : 12A, Old Dadar
Market, Near Nakshatra Cine Shoppe, Ranade Road, Dadar (West), Mumbai –
400028, India |
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Tel. No.: |
91-22-65294034 |
PARTNERS
|
Name : |
Mr. Kiran Aarosker |
|
Designation : |
Partner |
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Date of Birth/Age : |
40 Years |
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|
|
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Name : |
Mrs. Snehlata Aarosker |
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Designation : |
Partner |
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Date of Birth/Age : |
65 Years |
KEY EXECUTIVES
|
Name : |
Mr. Swapnil |
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Designation : |
Sales Manager |
BUSINESS DETAILS
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Line of Business : |
Dealer of Opthalmic Surgical Product |
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Terms : |
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Selling : |
Credit (60 / 90 days) |
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Purchasing : |
Credit (60 / 90 days) |
GENERAL INFORMATION
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Customers : |
Ř
Others Ř
Doctor and Dealer |
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No. of Employees : |
20 (in office) Approximately |
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Bankers : |
Not Divulged |
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Facilities : |
-- |
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Banking
Relations : |
-- |
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Auditors : |
Not Divulged |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Not Divulged |
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Borrowed : |
Not Divulged |
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Total : |
-- |
FINANCIAL DATA
[all figures are
in Rupees Millions]
Not Divulged
LOCAL AGENCY FURTHER INFORMATION
AS PER WEBSITE
SMR GROUP has been founded in the 1995 and is one of the fast
moving group which is diverse in manufacturing, trading, reselling and exports.
The group strength lies in multi products manufacturing and distribution over
network, which is well established in
SMR Opthalmic
SMR Opthalmic is a company, which is engaged in
manufacturing of Artificial Eyes, Optical Implants, Cosmetic Shells, Corneal
Shields, Conformers, Open Fornices Conformers, Spherical ( Mules) Implants and
Castroveijo Implants. They are one of the early starters in this industry and
they sell their products to direct clients and also act as an OEM manufacturer.
They have state of the art facility in Mumbai, which has a complete and
exhaustive system under one roof. This company specializes in manufacturing and
has over 30 employees. All the employees are well trained and have the
requisite knowledge in manufacturing. They have ISO En 13485:2003 certified
facility which allows them standarization and gives in the highest benchmark in
quality. Their products are also CE certified which enables them to sell their
products in European Union(EU). The company engages in distribution of BIOPORE
Implants. These implants are used after enucleation or evisriation following
the orbital Surgery. This helps in vascularization of muscle through the
implants and integrating the implant in to the eye socket. This allows the
patient high degree of Motility and movement in the eye. The material is Bio
compatible and is manufactured in ISO certified Facility and also has CE 1023
mark for European distribution.
SMR Custom Eye
Fitting Center is dedicated
to the one eyed patients who are psychologically and physically affected. In
this centre, they prepare an artificial eye and cosmetic shell, which actually
fits the patient who does not have an eye. It helps the patient to overcome
this handicap and resumes his normal life again. This centre is operational
from the inception and also has a free services section for the needy and poor.
This is one of the oldest and one of its kind centre in
SMR Lens
SMR Lens is a company, which is engaged in market
distribution and networking for all the products that are available for
distribution. This company specializes in distribution via, dealers,
distributor, chemists, etc. The strategy that is followed is a combination of
direct and indirect channel. They have many dealers all over the country and
distributors overseas that market and distribute their products. Some of their
products are Artificial Eyes, Optical Implants, Sidra IOLs, Aurolab IOLs,
USIOL, Bladez (their microsurgical disposable range), Surgical instruments,
Sutures, contact lenses and other ophthalmic drugs. They also follow the policy
of “one region, one dealer” which gives the dealer confidence and helps them in
organizing better.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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.44.48 |
|
|
1 |
Rs.72.36 |
|
Euro |
1 |
Rs.64.42 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
3 |
|
--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 |
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 |
|
28 |
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 |
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 |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.