MIRA
INFORM REPORT
|
Report Date : |
24th
May, 2006. |
IDENTIFICATION
DETAILS
|
Name : |
MAHAJAN
& COMPANY |
|
|
|
|
Registered Office : |
WH –
82, Mayapuri Industrial Area, Phase – I, New Delhi – 110 064, India |
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|
Country : |
India |
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|
|
|
Financials (as on) : |
31.03.2005 |
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Date of Incorporation : |
1967 |
|
|
|
|
Legal Form : |
Sole
Proprietorship Concern |
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|
|
|
Line of Business : |
Manufacturer
and Exporter of camera Accessories and Tripods. |
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 |
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|
|
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject
is a well-established concern having satisfactory track. Trade relations are
fair. No payments records are available. The
concern can be considered normal for business dealings at usual trade terms
and conditions. |
LOCATIONS
|
Registered Office/ Factory : |
WH –
82, Mayapuri Industrial Area, Phase – I, New Delhi – 110 064, India |
|
Tel. No.: |
91-11-28114197,
28116820 |
|
Mobile No.: |
91-9312251373 |
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Fax No.: |
91-11-28116820 |
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E-Mail : |
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|
Website : |
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Area : |
300
sq. meters approx |
|
Location : |
Owned |
|
|
|
|
Show
Room : |
76,
Sardanand Marg, Delhi – 110 006. |
|
Tel.
No.: |
91-11-23914962
/ 23969425 |
|
|
|
|
Corporate
Office : |
A-50,
Rajouri Garden, New Delhi – 110 027 |
|
Tel.
No.: |
91-11-25104519 |
SOLE PROPRIETOR
|
Name : |
Mr.
Rajendra Mahajan |
|
Designation : |
Proprietor
|
|
Address : |
A-103,
Meera Bagh, New Delhi – 110 041. |
|
Tel. No.: |
91-11-25253208 |
|
Date of Birth/Age : |
52
Years |
|
Qualification : |
Graduate |
|
Experience : |
30
Years |
KEY EXECUTIVES
|
Name
: |
Mr.
Saurabh Mahajan |
|
Designation
: |
Proprietor
|
|
Tel. No.: |
91-9818144133 |
|
Date
of Birth/Age : |
25
Years |
|
Experience
: |
4
Years |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer
and Exporter of camera Accessories and Tripods. |
|
|
|
|
Products : |
v Snap-On
Caps v Rear
Lens Caps v Metal
Caps v Stack
Caps v Camera
Body Caps v Lens
Hoods v Lipstic
Brush v Close
Up Lenses v Lens
Reversal v Extension
Tubes v Cable
Release v Eye
Piece Adapters v Film
Pickers v Cassette
Openers v Stepping
Rings v Conversion
Lens Adapter v T-2
Mount Adapters v Microscope
Adapters v Hote
Shoe Adapter v Extension
Cords v Studio
Light Syncrocords v Blower
Brush v Hands
Free Shoulder Pad v Safety
Filters v Flash
Brackets v Empty
Containers (for metz flashguns) v Slave
Units v Double Exposures v Star
Filters v Two
field Lenses (Spilt Image) v Centre
Image v Mask
Frame Set v Multi
Image Lenses v Diffusers v Spacer
Ring v Wind
Shield v VCR
Bettery v Video
Light Adapter v View
Finder v Spare
Assembly Shoe v Table
Tripods v Light
Weight Tripods v
Professional Tripods |
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|
|
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Brand Name: |
‘Sonia’ |
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|
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Exports to : |
USA,
Canada, UK and other European Countries. |
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|
|
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Terms : |
|
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Selling : |
100%
TT in Advance |
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|
|
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Purchasing : |
On CAD
& Credit (15 Days) |
GENERAL
INFORMATION
|
Customers : |
Manufacturer
and Retailer |
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|
|
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No. of Employees : |
Around
‘19’ |
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|
|
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Bankers : |
v
State
Bank of India ,New Delhi v
ICICI
Bank Limited, New Delhi |
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|
|
|
Facilities : |
-- |
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|
|
|
Banking Relations : |
Reportedly
Normal |
CAPITAL STRUCTURE
|
Capital
Investment : |
|
|
Owned : |
Rs.
2.500 Millions |
|
Borrowed : |
-- |
|
Total : |
Rs.
2.500 Millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
|
Particulars |
|
31.03.2005 |
31.03.2004 |
|
Net Worth |
|
25.000 |
23.000 |
|
|
|
|
|
|
Sales Turnover |
|
100.00 |
85.000 |
|
|
|
|
|
|
Profit/(Loss)
Before Tax |
|
3.550 |
2.850 |
|
|
|
|
|
|
Profit/(Loss)
After Tax |
|
2.120 |
2.030 |
The
projected Turnover for the financial year ended 31.03.2006 is Rs. 12.000
Millions
Note: The subject is a Non –
incorporated business entity and thus not obliged to file any information on
itself with any Official Authority (Registrar of Company) open for public
inspection. The above mentioned information is obtained directly from the
subject itself but the subject could not substantiate it by providing audited
financial statements like Balance Sheet and Profit & Loss A/C.
KEY
RATIOS
|
PARTICULARS |
|
|
31.03.2005 |
31.03.2004 |
|
PAT / Total Income |
(%) |
|
2.12 |
2.39 |
|
|
|
|
|
|
|
Net
Profit Margin (PBT/Sales) |
(%) |
|
3.55 |
3.35 |
|
|
|
|
|
|
|
Return
on Investment (ROI) (PBT/Networth) |
|
|
8.48 |
8.83 |
LOCAL AGENCY
FURTHER INFORMATION
The
subject claims their company is debt-free company.
Comments:
Business
dealings are permissible. The subject claims that they are not importing any
products directly from china and they purchase the Raw Materials, accessories
from the importer in Delhi itself. Mr. Rajendra Mahajan, Proprietor has further
confirmed that they normally obtain rates from various manufacturer in china
but not imported so far. The subject
once imported material directly from china by macking 100% payment in
advance but they faced administrative difficulties in Indian customs department
and hence they are not importing directly.
However,
the manufacturing unit is also situated at the inquired address which is prime
industrial location. The total plot
size shall be around 300 sq. meters and in Ground Floor & First Floor the
production & Packing units are there and the office is situated in second
floor.
As
per Website:
Profile
Mahajan & Co. is a pioneer among the manufacturers and exporters of
Professional Camera Tripods, Professional Camera Accessories & Digital
Camera Accessories. Their array of products branded under the name 'Sonia' consists
of digital camera accessories, flash and video camera accessories which are
constantly modified to keep in step with the changing trends and represent the
best of price and quality correlation.
Based in Delhi Mahajan & Co. registered its presence as Sonia Brand Camera
Accessories, way back in 1967. It was the first one to cater to the need of
quality photo accessories to meet the basic requirements of professional
photographers in India. Three decades back, Sonia launched the very first three
products for Yashica & Rolli twin-lens-reflex cameras -Parallex Corrected
Close Up Set , Metal Lens Hood & Surface Coated Reflection Mirror. Within a
short span of time the products gained immense popularity because of their
superior performance and easy accessibility and became highest selling in India
and first choice among professionals as well as amateurs. Since its inception,
the firm has been carrying out quality services with a belief that their prime
responsibility is to provide value to the consumer.
Their Products
Camera Accessories
|
|
Video Camera Accessories
|
|
Quality
Sonia possess over three decades of experience in manufacturing and exporting
every imaginable photographic item throughout the world. The company has
successfully established its growth parameters owing to its commitment to
excellence and emphasis on trust and clarity in all type of dealings. They
follow strict quality measures in order to meet the international standards.
The organisation has carved a niche for itself in the domestic as well as
global market because of its, proven dependability, performance, and compelling
value alongwith technology transitions. The organization is replete with all
the requisite expertise and emphasizes on Total Quality Management (TQM)
approach.
Infrastructure
What separates Sonia from other manufacturers and exporters is its unique
combination of category experience, personal service and technological expertise.
The company, having its production set up in New Delhi's Industrial Area,
Mayapuri is equipped with a technically advanced infrastructure for quality
production and backed by highly experienced, hard-core technical and non
technical staff which ensures quality and ensures that the delivery happens as
and when required by the client. Keeping up with the global competition, it has
successfully established itself as a market leader.
Clients
Their authenticity and promptness has captivated a wide base of clients all
over India and are preferred in the international market.
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.45.73 |
|
UK
Pound |
1 |
Rs.85.81 |
|
Euro |
1 |
Rs.58.48 |
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 |
NO |
|
--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 |