MIRA INFORM REPORT
|
Report Date : |
3rd May, 2006 |
IDENTIFICATION DETAILS
|
Name : |
HARI SINGH AND SONS |
|
|
|
|
Registered Office : |
G
T Road, Near Canal, P O Sultanwind, Amritsar-143021, Punjab |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31-03-2005 |
|
|
|
|
Date of Establishment : |
1967 |
|
|
|
|
TAN No.: (Tax Deduction &
Collection Account No.) |
AMRH10033C |
|
|
|
|
Legal Form : |
A
Partnership Concern with an Unlimited Liability of the Partners |
|
|
|
|
Line of Business : |
Manufacturer,
trader & dealer of Photographic Equipments |
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 10000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject
is a well established concern having satisfactory track. Partners are
reported as experienced and respectable businessmen. Trade relations are
reported as fair. Business is active. Payments are usually correct and as per
commitments. The concern can be considered normal for small business dealings
at usual trade terms and conditions |
LOCATIONS
|
Registered Office/ Head
Office : |
G
T Road, Near Canal, P O Sultanwind, Amritsar-143021, Punjab |
|
Tel. No.: |
91-183-2586114 |
|
Fax No.: |
91-183-2589619 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
1250
Sq. mtrs |
|
Location : |
Owned
|
|
|
|
|
Factory : |
|
|
Area : |
1250
Sq. mtrs |
|
Location : |
Owned |
|
|
|
|
Branches : |
|
|
Area : |
500
Sq. fts |
|
Location : |
Rented
|
PARTNERS
|
Name : |
Mr.
Rishiraj Singh Ahuja |
|
Designation : |
Partner |
|
Date of Birth/Age : |
35
years |
|
Qualification : |
Post
Graduate |
|
Experience : |
5
years |
|
|
|
|
Name : |
Mr.
Raunaq Singh Ahuja |
|
Designation : |
Partner |
|
Date of Birth/Age : |
33
years |
|
Qualification : |
Graduate |
|
|
|
|
Name : |
Mr.
Sukhwinder Singh Ahuja |
|
Designation : |
Partner |
|
Date of Birth/Age : |
59
years |
|
Qualification : |
|
|
|
|
KEY EXECUTIVES
|
Name : |
Mr.
Manmohan Kumar |
|
Mobile No. : |
91-9899024323 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer,
trader & dealer of Photographic Equipments |
|
|
|
|
Products : |
Photographic
Equipments |
|
|
|
|
Exports of : |
Photographic
Equipments |
|
|
|
|
Exports to : |
USA,
Philippines, North Africa |
|
|
|
|
Trade reference : |
Not
disclosed |
|
|
|
|
Imports of : |
Chemical
& Raw material |
|
|
|
|
Imports from : |
China,
Eurpoe, Korea, Hong Kong |
|
|
|
|
Trade reference : |
Samsung
|
|
|
|
|
Terms : |
|
|
Selling : |
L/C,
Cash 60 days & Credit 30 days |
|
|
|
|
Purchasing : |
L/C,
Cash 60 days & Credit 30 days |
GENERAL INFORMATION
|
Customers : |
Local
customers, Retailers & End users |
|
|
|
|
No. of Employees : |
Office
– 5, Factory – 25. Total – 30 |
|
|
|
|
Bankers : |
State
Bank of India, Amritsar-143021, Punjab |
|
|
|
|
Credit Limit : |
Rs.
2.000 millions |
|
|
|
|
Banking Relations : |
Satisfactory |
|
|
|
|
Auditors : |
Mr.
S K Gupta & Company Chartered
Accountant |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Rs.
2.500 million |
|
Borrowed : |
- |
|
Total : |
Rs.
2.500 million |
FINANCIAL
DATA
[all figures are in Rupees Millions]
|
Particulars |
31.03.2005 |
31.03.2004 |
31.03.2003 |
|
Sales Turnover |
125.000 |
10.000 |
8.500 |
|
|
|
|
|
|
Profit for the year |
2.100 |
1.800 |
1.000 |
|
|
|
|
|
|
Export Value |
20% |
15% |
21% |
|
|
|
|
|
|
Import Value |
7% |
5% |
7.5% |
LOCAL AGENCY FURTHER INFORMATION
Trade
reference – local :
- Samsung
- Conika
- Fuji
Hari Singh & Sons has been an active member of the photo-goods industry
for several decades. The company began operations with trading of photographic
equipment. As a result of consistently striving to bring about improvement,
manufacturing activities began in 1969. The initial product range
consisted of a few camera-stands and a black / white enlarger. Hari Singh &
Sons then became an OEM supplier to Agfa Gavaert India Ltd., supplying
enlargers, tungsten studio lights and glazing machines.
The firm's activities in the manufacturing sector have, since, grown
substantially and our comprehensive product portfolio testifies this. We have a
well-established unit with all the requisite infrastructure for a
production line that provides precision and high quality.
Consistent efforts towards achieving higher quality have lead to the company
being certified as an ISO 9001:2000 company since July 2003.
At Hari Singh & Sons a lot of emphasis is laid on product development
& quality control. Products are constantly upgraded with the objective
of providing a better quality to the customer at an affordable price. Our
product range is also constantly modified to keep in step with the changing
trends in photography.
We believe in long-lasting business relationships, and we strive to conduct our
business in an atmosphere where fair business practices are a norm. Our
channel partners, in turn, provide us with valuable feedback and a firm
presence in the market.
Our Quality Statement:
We are committed to provide products that reflect the changing need of our
customers. Our products should be of high quality, durable and affordable.
Hari Singh & Sons has been an active member of the photo-goods industry
for several decades. The company began operations with trading of photographic
equipment. As a result of consistently striving to bring about improvement,
manufacturing activities began in 1969. The initial product range
consisted of a few camera-stands and a black / white enlarger. Hari Singh &
Sons then became an OEM supplier to Agfa Gavaert India Ltd., supplying
enlargers, tungsten studio lights and glazing machines.
The firm's activities in the manufacturing sector have, since, grown
substantially and our comprehensive product portfolio testifies this. We have a
well-established unit with all the requisite infrastructure for a
production line that provides precision and high quality.
Consistent efforts towards achieving higher quality have lead to the company
being certified as an ISO 9001:2000 company since July 2003.
At Hari Singh & Sons a lot of emphasis is laid on product development
& quality control. Products are constantly upgraded with the objective
of providing a better quality to the customer at an affordable price. Our
product range is also constantly modified to keep in step with the changing
trends in photography.
We believe in long-lasting business relationships, and we strive to conduct our
business in an atmosphere where fair business practices are a norm. Our
channel partners, in turn, provide us with valuable feedback and a firm
presence in the market.
Our Quality Statement:
We are committed to provide products that reflect the changing need of our
customers. Our products should be of high quality, durable and affordable.
Pouducts :
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
0
Contact :
Hari
Singh & Sons
G.T. Road, Near Canal, P.O.
Sultanwind,
Amritsar -143 021 (India)
Phone: +91-183-2586114, 2589619
Fax: +91-183-2589619
Email: sales@harisonphoto.com
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 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.45.30 |
|
UK
Pound |
1 |
Rs.78.45 |
|
Euro |
1 |
Rs.54.88 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
48 |
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
|
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 |