MIRA
INFORM REPORT
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Report Date : |
26.04.2011 |
IDENTIFICATION DETAILS
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Name : |
LAXMO POLYFLEX INDUSTRIES |
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Registered
Office : |
Plot G – 1935/3, Almighty Gate, Metoda, |
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Country : |
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Year of
Establishment : |
2005 |
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Legal Form : |
Partnership concern with unlimited liability of the partners |
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Line of Business
: |
Manufacturer of flex touch lime hose, pvc pipes |
RATING & COMMENTS
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MIRA’s Rating : |
B (26) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established partnership concern having moderate track.
Mr. Deepak partner provided general information and denied for financial
details. Trade relations are fair. Business is active. Payments are reported
to be slow but correct. The concern can be considered for business dealings with some caution.
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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
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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)
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Name : |
Mr. Deepak |
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Designation : |
Partner |
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Date : |
23.04.2011 |
LOCATIONS
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Registered Office/ Factory : |
Plot G – 1935/3, Almighty Gate, Metoda, |
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Tel. No.: |
91-281-2230255 |
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Mobile No.: |
91-9426915355 (Mr. Deepak) |
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Fax No.: |
91-281-2230255 |
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E-Mail : |
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Website : |
PARTNERS
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Name : |
Mr. Ashwin Ghedia |
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Designation : |
Partner |
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Date of Birth/Age : |
40 Years |
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Name : |
Mr. Sunil Ghedia |
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Designation : |
Partner |
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Date of Birth/Age : |
31 Years |
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Name : |
Mr. Deepak Ghedia |
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Designation : |
Partner |
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Date of Birth/Age : |
35 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of flex touch lime hose, pvc pipes |
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Products : |
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Terms : |
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Selling : |
Depend |
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Purchasing : |
Depend |
GENERAL INFORMATION
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Customers : |
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No. of Employees : |
20 (approximately) |
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Bankers : |
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Facilities : |
-- |
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Banking
Relations : |
-- |
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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 DETAILS
PROFILE
Since the commencement of Laxmo, it has operated in harmony with a set
of core values and attitude, which are critical to its continued success as a
company, and as individuals .The core values and belief LAXMO has identified
that would uphold in Laxmo quest for business excellence. Conduct business on
the highest ethical basis Thrive on innovation – Invent new technologies. LAXMO
ENGINEERS has been churning out Pipes since year 2003, which have manufacturing
facilities at
Mr. Ashwingbhai Ghedia has played a
stellar role in the growth of LAXMO and his efforts have helped make it one of
the
It is the all time practice of the company to train the entire staff at
regular interval to keep updated the strength of the company to produce the
excellent quality of the products
Laxmo At a Glance
Methodology, management and consistency of process provide the
environment for achieving perfection. They go far beyond 100% measurement of
components; its commitment to achieving perfection in all aspects of
manufacturing and is reflected in there customer satisfaction with there
products.
'Laxmo' contributes to the national might by earning the much needed foreign
exchange by virtue of exports to more than two dozen countries in the Africa,
Asia, Gulf ,
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
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Indian Rupees |
|
US Dollar |
1 |
Rs.44.45 |
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|
1 |
Rs.73.35 |
|
Euro |
1 |
Rs.64.78 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
4 |
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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 |
3 |
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--PROFITABILIRY |
1~10 |
3 |
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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 |
1 |
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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 |
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26 |
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 |
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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- |
NB |
New Business |
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This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.