MIRA INFORM REPORT
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Report Date : |
22.04.2011 |
IDENTIFICATION DETAILS
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Name : |
STANDARD BRUSH COMPANY |
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Registered
Office : |
9, Rajendra Prasad Sarani (Clive Row), 1st Floor,
Kolkata – 700 001, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Year of
Establishment : |
1978 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business
: |
Manufacturing of Industrial Brushes. |
RATING & COMMENTS
|
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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Maximum Credit Limit : |
USD 4000 |
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Status : |
Small Concern |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a small proprietory concern in its field. Its scale of activities
are limited. However, trade relations are fair. Business is active. Payments
are reported to be slow but correct. The concern can be considered for small business dealings at usual
trade terms and conditions. |
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) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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
|
Name : |
Mr. S.K. Bera |
|
Designation : |
Proprietor |
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Contact No.: |
91-9830057942 |
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Date : |
18.04.2011 |
LOCATIONS
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Registered Office : |
9, Rajendra Prasad Sarani (Clive Row), 1st
Floor, Kolkata – 700 001, West |
|
Tel. No.: |
91-33-65186135/ 24959530 |
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Mobile No.: |
91-9830057942 (Mr. S.K. Bera) |
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Fax No.: |
91-33-24959530 |
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E-Mail : |
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Website : |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. S.K. Bera |
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Designation : |
Proprietor |
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Date of Birth/Age : |
58 Years |
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Qualification : |
B.Com |
BUSINESS DETAILS
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Line of Business : |
Manufacturing of Industrial Brushes. |
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Products : |
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Terms : |
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Selling : |
Cash and Credit (30/ 60/ 90 days) |
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Purchasing : |
Cash and Credit (30/ 60/ 90 days)
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GENERAL INFORMATION
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Customers : |
Wholesalers |
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No. of Employees : |
10 (Approximately) |
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Bankers : |
State Bank of |
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Banking
Relations : |
-- |
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Auditors : |
Not Available |
CAPITAL STRUCTURE
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Capital Investment : |
|
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Owned : |
About Rs.1.000 million (Estimated) |
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Borrowed : |
-- |
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Total : |
About Rs.1.000 million (Estimated) |
FINANCIAL DATA
[all figures are
in Rupees Millions]
|
Particulars |
|
31.03.2010 |
31.03.2009 |
|
Sales Turnover |
|
5.800 |
5.500 |
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Expected Sales (2010-2011): Rs.6.300 millions
LOCAL AGENCY FURTHER INFORMATION
TRADE REFERENCES:
·
Saraswati Brushes
WEBSITE DETAILS:
PROFILE:
They are the manufacturer of various kinds of Industrial Brushes as per
customer's drawings and specifications. Subject has been manufacturing superior
quality industrial brushes for a broad range of applications since 1978. Under
the leadership of Mr. S.K Bera, their company has built on a solid reputation
of superior quality and exceptional service. This combination has resulted in
their company becoming a leader in the manufacture of industrial brushes with
an emphasis on custom-designed brushes.
Their success is built not only on the unmatched quality of their
products, but on their customer service. Providing the best in customer service
is their priority and they accomplish that goal with several concepts,
beginning with a timely response to all inquiries. They offer custom brushes to
fit the needs of their customers with timely delivery and technical support
that does not end with the final sale, but includes after sales service.
They manufacture brushes that range from 5gm to 100 kgs. Weight per piece.
They have the capability and the expertise to develop brushes based on the
suggestions and requirement.
Their
Subject came into existence in 1978. The journey from supplying Wooden
Brushes to becoming one of the best makers of industrial brushes has been
filled with accomplishments and accolades.
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 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.44.30 |
|
|
1 |
Rs.72.92 |
|
Euro |
1 |
Rs.64.69 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
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--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
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--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
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 |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
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.