MIRA
INFORM REPORT
|
Report Date : |
12.09.2011 |
IDENTIFICATION DETAILS
|
Name : |
ACID |
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Registered
Office : |
Mulratna, 2nd Floor, 334, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Year of
Establishment : |
1997 |
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Capital
Investment / Paid-up Capital : |
Not Divulged |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business
: |
Importer and Trader of Chemicals. |
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No. of Employees
: |
25 Approximately |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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|
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Payment Behaviour : |
Usually Correct |
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|
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Litigation : |
Clear |
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Comments : |
Subject is an established proprietory concern having satisfactory
track. Trade relations are reported as fair. Business is active. Payments are
reported to be usually correct and as per commitments. The concern can be considered normal for 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 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Anand Doshi |
|
Designation : |
Accounts Manager |
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Date : |
30.08.2011 |
LOCATIONS
|
Registered Office : |
Mulratna, 2nd Floor, 334, |
|
Tel. No.: |
91-22-61392000 |
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Fax No.: |
91-22-61392010 |
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E-Mail : |
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Website : |
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|
Area : |
1000 Sq. ft. |
|
Location : |
Rented |
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|
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Branch Office : |
Located at ·
Ahmedabad |
SOLE PROPRIETOR
|
Name : |
Mr. Kunal Asher |
|
Designation : |
Proprietor |
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Date of Birth/Age : |
28 Years |
|
Qualification : |
B.Com |
BUSINESS DETAILS
GENERAL INFORMATION
|
Customers : |
·
Wholesalers ·
Retailers ·
Manufacturer |
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|
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No. of Employees : |
25 Approximately |
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Bankers : |
Standard Chartered Bank, |
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Facilities : |
They enjoy many facility. |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
Amit Bhai Zaveri Chartered Accountant |
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|
|
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Parent Concern : |
Acid Address : Chennai |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Not Divulged |
|
Borrowed : |
Not Divulged |
|
Total : |
Not Divulged |
FINANCIAL DATA
[all figures are in
Rupees Millions]
|
Particulars |
|
|
31.03.2011 |
|
Sales Turnover (Approximately) |
|
|
550.000 |
The above information has been parted by Mr. Anand Doshi
Note : Sole Proprietory and Partnership concerns are exempted
from filing their financials with the Government Authorities or Registry
Records.
LOCAL AGENCY FURTHER INFORMATION
WEB DETAILS
Profile
Subject, blazing a track record of success ever since its commencement of
operations in 1970, supplies Acids and Chemicals to a wide spectrum of
industries in Tamilnadu, Karnataka, Andhra, Maharastra and Gujarat.
Subject, strives to supply always high quality Chemicals at competitive prices
ensuring timely delivery and efficent services. Subject is ever in pursuit of excellence in Quality,
uncompromising on Reliability and Dependability keeping in mind efficient,
effective customer service and their satisfaction as a fundamental principle
for Good Marketing Practise
Recognizing their
Quality Service to Industries, Manufacturers regard subject, as a trusted reliable outlet for distributing
their products.
Many process Industries trust with confidence subject, as a reliable source for its supplies for
their uninterrupted plant operation. Their steady and many fold growth over the
years only reaffirms our faith that a dedicated efficient service to Trade and
Industry will necessarily lead to an increase in their customer base who look
up to Acid India as a dependable source where : -
1.
QUALITY SPELLS CLASS
2.
RELIABILITY IS
3.
SERVICE IS FUNDAMENTAL
4.
CUSTOMER SATISFACTION IS DEAREST
5.
PEOPLE ARE HALLMARK TO
PROGRESS
6.
CHEMISTRY OF SUCCESS IS
AT WORK
Based on their
experience and expertise subject
has steadily built a sound and strong base for "Service to Trade" through outlets of dedicated Traders
servicing Small Scale Industries’ requirements and subject directly catering
the needs of medium and larger Industries
To the valued customers subject
means wider product portfolio, reliable products supply, consistent product
quality, world class technical support and best service. At subject, the commitment to offer
quality service has been the motto ever since its inception.
To enhance and achieve these goals subject, through its skilled, experienced and highly qualified
professionals, interacts with end users to know their ever increasing demands
and specific requirements and gets them incorporated by the Principal
Manufacturers.
This has resulted in Triple benefit to all concerned Viz :
To the Customer : Satisfaction
and improved products.
To the Manufacturer : Improved
quality resulting in customer loyalty.
To Acid
Subject, rededicates itself to add regularly quality
products to its range, increase representation of prestigious esteemed
manufactures and offer reliable service to a large number of Traders and a wide
spectrum of user industries
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.46.38 |
|
|
1 |
Rs.74.01 |
|
Euro |
1 |
Rs.64.48 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
47 |
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.