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Report Date : |
06.03.2012 |
IDENTIFICATION DETAILS
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Name : |
MAHESHWARI PLASTICS |
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Registered
Office : |
Plot No.4809/1, Plastic Zone, Sarigam GIDC, Umbergaon,
Valsad, Sarigam INA – 396 155, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Year of
Establishment : |
1981 |
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Capital Investment
/ Paid-up Capital : |
Rs.5.000 millions |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business
: |
Manufacturer and Exporter of PP Box Strapping, PET Strapping Tape,
Plastic Packaging Tapes etc. |
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No. of Employees
: |
12 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (46) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 20000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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
|
Name : |
Mr. Bharat. S.
Patel (Son of Proprietor) |
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Contact No.: |
91-9427716781 |
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Date : |
24.02.2012 |
LOCATIONS
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Registered Office/ Factory : |
Plot No.4809/1, Plastic Zone, Sarigam GIDC, Umbergaon,
Valsad, Sarigam INA – 396 155, |
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Tel. No.: |
91-260-2780849 |
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Mobile No.: |
91-9427716781 (Mr. Bharat. S. Patel) |
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Fax No.: |
91-260-2780849 |
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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. Savjibhai
R. Patel |
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Designation : |
Proprietor |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of PP Box Strapping, PET Strapping Tape,
Plastic Packaging Tapes etc. |
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|
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Products : |
v
PP Box
Strapping
v
Plastic
Packaging Tapes v
PET
Strapping Tape
v
PP Box
Strapping Roll, etc. |
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Exports : |
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Products : |
v
PP Box
Strapping
v
Plastic
Packaging Tapes v
PET
Strapping Tape
v
PP Box
Strapping Roll, etc. |
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Countries : |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
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Suppliers : |
v Varun Plastic, Vapi |
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Customers : |
Wholesalers and Retailers v Sitaram Store, Tirupur |
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No. of Employees : |
12 (Approximately) |
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Bankers : |
Cosmos Bank, |
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Facilities : |
Cash Credit – Rs.2.000 millions Term Loan – Rs.5.000 millions |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Mr. Ruchir Chartered Accountant |
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Address : |
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CAPITAL STRUCTURE
As on 31.03.2011
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Capital Investment : |
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Owned : |
Rs.5.000 millions |
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Borrowed : |
-- |
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Total : |
Rs.5.000 millions |
FINANCIAL DATA
[all figures are in
Rupees Millions]
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Particulars |
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31.03.2011 |
31.03.2010 |
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Sales Turnover (Approximately) |
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13.000 |
11.000 |
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Expected Sales (2011-2012): Rs.17.000 millions
The above information has been parted by Mr. Bharat. S. Patel (Son of Proprietor).
Note : Sole Proprietory and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry Records.
LOCAL AGENCY FURTHER INFORMATION
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Check List by Info Agents |
Available in Report (Yes / No) |
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1) Year of
Establishment |
Yes |
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2) Locality of
the firm |
Yes |
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3) Constitutions
of the firm |
Yes |
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4) Premises
details |
Yes |
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5) Type of
Business |
Yes |
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6) Line of
Business |
Yes |
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7) Promoter’s
background |
-- |
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8) No. of
employees |
Yes |
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9) Name of person
contacted |
Yes |
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10) Designation
of contact person |
Yes |
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11) Turnover of
firm for last two years |
Yes |
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12) Profitability
for last three years |
No |
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13) Reasons for
variation <> 20% |
No |
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14) Estimation
for coming financial year |
Yes |
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15) Capital in
the business |
Yes |
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16) Details of
sister concerns |
-- |
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17) Major
suppliers |
Yes |
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18) Major
customers |
Yes |
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19) Payments
terms |
Yes |
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20) Export /
Import details (if applicable) |
Yes |
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21) Market
information |
-- |
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22) Litigations
that the firm / promoter involved in |
-- |
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23) Banking
Details |
Yes |
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24) Banking
facility details |
Yes |
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25) Conduct of
the banking account |
-- |
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26) Buyer visit
details |
-- |
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27) Financials,
if provided |
No |
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28) Incorporation
details, if applicable |
-- |
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29) Last accounts
filed at ROC |
-- |
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30) Major
Shareholders, if available |
-- |
TRADE REFERENCES:
v Sitaram Store, Tirupur
v Varun Plastic, Vapi
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.49.80 |
|
|
1 |
Rs.78.79 |
|
Euro |
1 |
Rs.65.74 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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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 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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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 |