MIRA
INFORM REPORT
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Report Date : |
10.06.2011 |
IDENTIFICATION DETAILS
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Name : |
COMPETENT CONVEYOR SYSTEMS PRIVATE LIMITED |
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Registered Office : |
Q-36, Navin Shahdara, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
09.12.1993 |
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Com. Reg. No.: |
55-56379 |
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Capital Investment
/ Paid-up Capital : |
Rs.1.016 millions |
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CIN No.: [Company
Identification No.] |
U74899DL1993PTC056379 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELC08724C |
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PAN No.: [Permanent
Account No.] |
AAACC0345D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Handling Conveyor Systems |
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No. of Employees
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17 (In Office 7 and In Factory 12) (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
B (29) |
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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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Maximum Credit Limit : |
USD 6200 |
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Status : |
Small Company |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a small company in its field. It’s scale of activities are
limited. Trade relations are reported as fair. Business is active. Payments are
reported are reported to be slow but correct. The company can be considered for small business dealings at usual
trade term 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
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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
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Name : |
Mr. K C Jha |
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Designation : |
Accounts Manager |
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Contact No.: |
91-9971965253 |
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Date : |
08.06.2011 |
LOCATIONS
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Registered Office/ Factory / Warehouse : |
Q-36, Navin Shahdara, |
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E-Mail : |
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Website : |
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Area : |
Owned |
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Corporate Office : |
C-117, Sector 65, Noida, Gautam Budh Nagar, Noida – 201301, |
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Tel. No.: |
91-120-3949156 |
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Fax No.: |
91-120-2444769/ 24232744 |
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Mobile No: |
91-9810034423 |
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E-Mail : |
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Area : |
500 sq. ft. |
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Location : |
Owned |
DIRECTORS
As on : 30.09.2010
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Name : |
Mr. Shripal Yadav |
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Designation : |
Director |
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Address : |
Q-36, Navin Shahdara, |
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Date of Birth/Age : |
25.04.1961 |
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Date of Appointment : |
09.12.1993 |
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Din No.: |
00503497 |
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Name : |
Mr. Sanjeev Yadav |
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Designation : |
Director |
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Address : |
Q-36, Navin Shahdara, |
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Date of Birth/Age : |
01.06.1974 |
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Date of Appointment : |
30.12.2000 |
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Din No.: |
00503440 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on : 30.09.2010
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Names of Shareholders |
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No. of Shares |
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Shripal Yadav |
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1046 |
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Anita Yadav |
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465 |
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Pawan Kumar Kaushik |
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150 |
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Raj Kumar |
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100 |
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Total |
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1761 |
As on : 30.09.2010
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Category |
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Percentage |
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Directors or relatives of directors |
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85.81 |
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Others |
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14.19 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Handling Conveyor Systems |
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Products : |
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Export : |
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Product : |
Conveyor |
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Country : |
Nepal |
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Imports : |
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Product : |
Conveyor Parts |
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Country : |
Taiwan |
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Terms : |
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Selling : |
Cash |
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Purchasing : |
Cash, DD, Advance |
GENERAL INFORMATION
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Customers : |
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No. of Employees : |
17 (In Office 7 and In Factory 12) (Approximately) |
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Bankers : |
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Facilities : |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
DJS and Company Chartered Accountant |
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Address 1: |
Plot No.20, 1St Floor, East Avenue Market, East Punjabi
Bagh, |
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Address 2: |
L-2, Kanchan House, Karampura Comm. Complex, |
CAPITAL STRUCTURE
As on : 31.03.2010
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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5000 |
Equity Shares |
Rs.100/- each |
Rs.0.500 Million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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1511 |
Equity Shares |
Rs.100/-
each |
Rs.0.151
Million |
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Share application money |
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Rs.0.865
million |
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Total |
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Rs.1.016 millions |
As on : 30.09.2010
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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5000 |
Equity Shares |
Rs.100/- each |
Rs.0.500 Million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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1761 |
Equity Shares |
Rs.100/-
each |
Rs.0.176
Million |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.151 |
0.151 |
0.151 |
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2] Share Application Money |
0.865 |
1.020 |
0.770 |
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3] Reserves & Surplus |
0.523 |
0.414 |
0.379 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
1.539 |
1.585 |
1.300 |
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LOAN FUNDS |
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1] Secured Loans |
0.756 |
1.065 |
0.352 |
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2] Unsecured Loans |
0.000 |
0.240 |
0.150 |
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TOTAL BORROWING |
0.756 |
1.305 |
0.502 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.003 |
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TOTAL |
2.295 |
2.890 |
1.805 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
2.498 |
2.790 |
3.069 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.034 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.014 |
0.013 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
1.281
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1.035 |
1.410 |
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Sundry Debtors |
2.994
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2.632 |
2.447 |
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Cash & Bank Balances |
0.465
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0.222 |
0.485 |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
0.454
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0.358 |
0.274 |
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Total
Current Assets |
5.194
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4.247 |
4.616 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
5.445
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4.160 |
5.880 |
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Provisions |
0.000
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0.000 |
0.000 |
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Total
Current Liabilities |
5.445
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4.160 |
5.880 |
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Net Current Assets |
(0.251)
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0.087 |
(1.264) |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
2.295 |
2.890 |
1.805 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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Sales Turnover |
15.517 |
9.377 |
18.607 |
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Profit |
0.176 |
0.076 |
0.186 |
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Particulars |
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31.03.2011 |
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Sales Turnover (Approximately) |
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20.000 |
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The above information has been parted by Mr. K C Jha.
KEY RATIOS
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PARTICULARS |
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31.03.2010 |
31.03.2009 |
31.03.2008 |
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PAT / Total Income |
(%) |
1.13
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0.81 |
0.99 |
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Debt Equity Ratio (Total Liability/Networth) |
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4.02
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3.44 |
4.90 |
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Current Ratio (Current Asset/Current Liability) |
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0.95
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1.02 |
0.78 |
LOCAL AGENCY FURTHER INFORMATION
WORKING RESULTS :
That the company have done proper business
activity during the years and have done a turnover of Rs. 15.517 millions and have
earned a profit of Rs. 0.176 millions.
WEBSITE DETAILS
PROFILE:
Established in 1993, they at subject are one of the
manufacturers and suppliers of superior quality conveyor systems. With increase
in their business, they have also established a new manufacturing unit in
Noida,
They have also built a long-lasting relation with their clients by providing
them superior quality products with after sales service. Their timely delivery
and customized packaging solutions have gained them trust and satisfaction of
their customers. With an objective and goal to spread their wings more in
domestic and international market, they also provide value-added products to
their valuable clients.
INFRASTRUCTURAL
SET-UP
They have a sophisticated and modernized infrastructural
setup equipped with all latest techniques and machinery. They have consistently
adopted innovative procedures of manufacturing their gamut of products. Their
manufacturing unit is also engaged in proactive development efforts to keep in
touch with changing environment and technologies of international market. The
strength and quality of their organization depends on their state-of-art
machinery, quality managers and customer relationship managers.
QUALITY ASSURANCE
The Subject is working with a motto to 'provide a product of superior quality with long life at competitive price'. The production process is carried out under the supervision of experienced professionals and engineers. All conveyors are subjected to stringent quality checks at every stage of production Norms. That means they check the quality of their products right from selection of raw materials to final development of conveyor machinery, quality is monitored in each and every stage.
TIMELY DELIVERY
Their exclusive
range of products has earned them the trust and confidence of quality conscious
international market. They have been exporting their conveyors to many
established international markets. Their company is recognized worldwide due to
their quality consciousness and timely delivery of consignments. Moreover, they
have a widespread network of satisfied clients.
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. 44.72 |
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|
1 |
Rs. 73.47 |
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Euro |
1 |
Rs. 65.38 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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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 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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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 |
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 |
|
45 |
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 |
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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.