MIRA
INFORM REPORT
|
Report Date : |
29TH
June 2006 |
IDENTIFICATION
DETAILS
|
Name : |
NEW
TECH MARKETING |
|
|
|
|
Registered Office : |
16,
Ambika Society, B/h Garden Usmanpura, Ahmedabad – 380013, Gujarat, India |
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|
|
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Country : |
India |
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|
|
|
Financials (as on) : |
31.03.2006 |
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|
|
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Date of Incorporation : |
2004 |
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|
|
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TAN No.: [Tax
Deduction & Collection Account No.] |
AHMN02194D |
|
|
|
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PAN No.: [Permanent
Account No.] |
AAEFN7782L
|
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|
|
|
Legal Form : |
Partnership
concern with an unlimited liability of the partners. |
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|
|
|
Line of Business : |
Distributors
of Haier TV sets in North Gujarat |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD
30000 |
|
|
|
|
Status : |
Satisfactory
|
|
|
|
|
Payment Behaviour : |
Usually
correct |
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|
|
Litigation : |
Clear |
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Comments : |
Subject
is a dealers for Haier brand electronic goods. Haier is Chinese brand and
said to have been well received due to aggressive pricing. Trade relations
are fair. Payments are usually correct and as per commitments. The
concern can be considered normal for business dealings at usual trade terms
and conditions. |
LOCATIONS
|
Registered Office / Works : |
16,
Ambika Society, B/h Garden Usmanpura, Ahmedabad – 380013, Gujarat, India |
|
Tel. No.: |
91-79-27553656 |
|
Mobile No.: |
91-9925152433 |
|
Fax No.: |
91-79-27551221 |
|
Area : |
Apx.
600 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Godown
: |
108,
Sagar Estate, Near Sukh Sagar Hotel, Sarkhej, Ahmedabad - 382210 |
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Area : |
Apx.
2000 sq. ft. |
PARTNERS
|
Name : |
Mr.
Bechardas Haribhai Patel |
|
Designation : |
Managing
Partner |
|
Date of Birth/Age : |
48
years |
|
Date of Appointment : |
20
years |
|
|
|
|
Name : |
Mr.
Gandalal Prakash Patel |
|
Designation : |
Partner
|
|
Date of Birth/Age : |
38
years |
|
Experience : |
16
years |
|
|
|
|
Name : |
Mr.
Vinubhai Ashok Shah |
|
Designation : |
Partner
|
|
Date of Birth/Age : |
36
years |
|
Date of Appointment : |
12
years |
|
|
|
|
Name : |
Mr.
Hargovind Rakesh Prajapati |
|
Designation : |
Partner
|
|
Date of Birth/Age : |
23
years |
BUSINESS DETAILS
|
Line of Business : |
Distributors
of Haier TV sets in North Gujarat |
|
|
|
|
Terms : |
|
|
Selling : |
Cash
and Credit up to 30 days |
|
|
|
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Purchasing : |
Cash
and 15 days credit some time |
GENERAL
INFORMATION
|
Suppliers : |
Haier (They
have their Manufacturing facility in China) Website
: http://www.haireurope.com |
|
|
|
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Customers : |
Local
Traders in North Gujarat |
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|
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No. of Employees : |
6 |
|
|
|
|
Bankers : |
The
Kalol Bagrik Sahakari Bank Limited Vadaj
Branch Ahmedabad
- 380013 |
|
Associates/Subsidiaries : |
Hi
Tech Marketing 16,
Ambika Society, B/h Garden Usmanpura, Ahmedabad – 380013, Gujarat, India |
|
Tel. No.: |
91-79-27553653 |
|
Mobile No.: |
91-9925152433 |
|
Fax No.: |
91-79-27551221 |
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Distributors for : |
TCL,
Since 1994 |
|
Sales : |
Rs. 30.000
millions |
CAPITAL STRUCTURE
|
Capital
Investment : |
|
|
Owned : |
Rs.
7.500 millions |
|
Borrowed : |
-- |
|
Total : |
Rs.
7.500 millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
|
Particulars |
|
|
31.03.2006 |
|
Sales Turnover |
|
|
30.000 |
LOCAL AGENCY FURTHER
INFORMATION
Subject
is have an Annual Turnover of Rs. 30.000 millions with A Gross profit of 5 to
5.5 % and Net profit of 3.5 %.
Average
stock maintained : Rs. 2.000 millions p.m.
The
subject does not have any import Export directory.
Subject
does not have any Export.
Subject
have about 40 dealers under its distribution net work in 6 District of North
Gujarat.
The
partners are well experienced and qualified, financially sound, enjoy better
credit and reputation in the market
While
interviewed, the Managing Partner Mr. Patel Haribhai Bechardas, Showed optimism
in their venture and claims to have bright business prospect for the coming
year.
Subject
seems to be progressive.
Suggest
subject can be considered good for normal business engagements and safe for
medium trade credit.
CMT REPORT [Corruption, Money
laundering & Terrorism]
The
Public Notice information has been collected from various sources including but
not limited to: The Courts, India Prisons Service, Interpol, etc.
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.46.40 |
|
UK
Pound |
1 |
Rs.84.50 |
|
Euro |
1 |
Rs.58.32 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
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 |
|
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 |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
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 |