|
Report Date : |
07.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
SHAH POLYMERS |
|
|
|
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Registered
Office : |
No.114/C, 1st Cross, 5th Main, Opp CMTI (Service
Road), Yeshwanthpur Suburb, (Before Mc Donald’s / HP Petrol Pump), |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Year of Establishment : |
1985 |
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Capital
Investment / Paid-up Capital : |
Rs. 100.000 Millions |
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|
|
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TAN No.: [Tax Deduction &
Collection Account No.] |
BLRS15790F |
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PAN No.: [Permanent Account No.] |
AAFFS4437A |
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Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners. |
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Line of Business
: |
Trader, Distributor and Importer of Engineering Plastics Granules, Polycarbonate Sheets, Vinyls Banners. |
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No. of Employees
: |
100 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 400000 |
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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 partnership concern having a satisfactory
track record. The performance capability of the concern is good. Trade
relations are reported as decent. Business is active. Payments are reported
to be usually correct and as per commitment. The concern can be considered normal for business dealings at usual
trade terms and condition. |
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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Mr. Bala |
|
Designation : |
Vice president |
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Contact No.: |
91-22-39461154 |
|
Date : |
06.05.2013 |
LOCATIONS
|
Registered Office : |
No.114/C, 1st Cross, 5th Main, Opp CMTI (Service
Road), Yeshwanthpur Suburb, (Before Mc Donald’s / HP Petrol Pump), Bangalore
– 560022, India |
|
Tel. No.: |
91-80-28376001 |
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Mobile No.: |
91-9986024360 (Mr. Vishwanath) |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Head Office : |
No.44/1, 3rd Floor, 8th Cross, Behind Punjab National
Bank, New BEL Road, MSR Nagar, Bangalore-5600054, Karnataka, India |
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Tel No.: |
91-80-40063000/15/45 |
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Fax No.: |
91-80-23603905 |
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Email : |
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Ware House : |
Plot No.209,210 and 211, Corner of 5th Main and 10th
Cross, III Phase, Malur Industrial Area, Malur Taluk, Kolar, India |
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Tel No.: |
91-81-51292025 |
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Fax No.: |
91-80-23603905 |
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Email : |
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Branches : |
Located At : · Chennai · Mumbai · |
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Godown : |
ACC Industrial Shed, No.21/3, 4th Main, 1st Cross, Yeshwanthpur, |
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Tel. No.: |
91-80-40063000 |
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Fax No. : |
91-80-23603905 |
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Area : |
5000 Sq. ft. |
PARTNERS
|
Name : |
Mr. Mukesh Shah |
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Designation : |
Partner |
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Address : |
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Date of Birth/Age : |
02.10.1964 |
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Qualification : |
BBM |
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|
|
Name : |
Mr. Deepak Shah |
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Designation : |
Partner |
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Address : |
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Date of Birth/Age : |
04.09.1966 |
|
Qualification : |
B.Com |
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|
|
Name : |
Mr. Shashikanth Shah |
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Designation : |
Partner |
|
Address : |
1st Block, |
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Date of Birth/Age : |
03.11.1941 |
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|
|
Name : |
Mrs. Indira Shah |
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Designation : |
Partner |
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Address : |
RMV 2nd Stage, |
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Date of Birth/Age : |
01.12.1945 |
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|
|
Name : |
Mrs. Neeta Shah |
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Designation : |
Partner |
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Address : |
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Date of Birth/Age : |
16.10.1966 |
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Qualification: |
Graduate |
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|
Name : |
Mrs. Divya Shah |
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Designation : |
Partner |
|
Address : |
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Date of Birth/Age : |
02.08.1967 |
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Qualification: |
Graduate |
BUSINESS DETAILS
|
Line of Business : |
Trader, Distributor and Importer of Engineering Plastics Granules,
Polycarbonate Sheets, Vinyls Banners. |
|
|
|
|
Products : |
·
Polycarbonates ·
PBT Resins ·
ABS Resins ·
PVC Resins ·
Polyacetals ·
Polypropylene ·
Alloys and Blends ·
Tuflite Polycarbonate Sheets ·
LG Vinyls ·
LG Flex ·
LG Banners |
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Exports : |
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Products : |
· Raw Material ·
Sheets |
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Countries : |
·
·
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Imports : |
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Products : |
Engineering Plastics |
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Countries : |
·
·
·
·
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Terms : |
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Selling : |
L/C |
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Purchasing : |
L/C |
GENERAL INFORMATION
|
Suppliers : |
Reliance Industries Limited, |
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Customers : |
OEM’s and Others ( Manufacturer) ·
Tuflite Polymers Limited |
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No. of Employees : |
100 (Approximately) |
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Bankers : |
Standard Chartered Bank, M |
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Facilities : |
Cash Credit : Rs. 20.000 Millions (Standard Chartered Bank) Letter of Credit :
Rs. 110.000 Millions (Standard Chartered Bank) |
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Auditors : |
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|
Name : |
Patel Mohan Ramesh and Company Chartered Accountants |
|
Address : |
No.8, AM Road, II Floor, Journalist Colony, |
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Tel. No.: |
91-80-26704298 / 26709331 |
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Tel. No.: |
91-80-26704296 |
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Fax No.: |
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Sister Concerns : |
Tuflite Polymers Limited, No. 1, MSR Industrial Estate, Gokula, No.1, Gokula MSR, Industrial Area, Bangalore – 560 054, Karnataka, India Line of Business: Trader
of Engineering Plastics Granules |
CAPITAL STRUCTURE
As on : 31.03.2013
|
Capital Investment : |
|
|
Owned : |
Rs.100.000 Millions (Estimated) |
|
Borrowed : |
-- |
|
Total : |
Rs.100.000 Millions (Estimated) |
FINANCIAL DATA
[all figures are
in Rupees Millions]
|
Particulars |
|
31.03.2012 |
31.03.2011 |
|
Sales Turnover (Approximately) |
|
950.000 |
870.000 |
The above information has been parted by Mr. Bala (Vice President)
Note : Sole Proprietory and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry.
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
two years |
Yes |
|
12] |
Profitability for last
three years |
No |
|
13] |
Reasons for variation
<> 20% |
------------------ |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details (if
applicable) |
Yes |
|
21] |
Market information |
----------------- |
|
22] |
Litigations that the firm
/ promoter involved in |
------------------ |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
------------------- |
|
26] |
Buyer visit details |
------------------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
No |
|
29] |
Last accounts filed at
ROC |
No |
|
30] |
Major Shareholders, if
available |
No |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if
available |
No |
TRADE REFERENCE:
· Tuflite Polymers Limited
· Shahi Polymers
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. 53.95 |
|
|
1 |
Rs. 84.03 |
|
Euro |
1 |
Rs. 70.72 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
|
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
50 |
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.