MIRA INFORM REPORT
|
Report
Date : |
2nd
November 2006 |
IDENTIFICATION
DETAILS
|
Name : |
ARIHANT ELECTRICALS |
|
|
|
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Registered
Office : |
24 / 4866 Harbans Singh Street, Ansari Road, Darya Ganj,
New Delhi 110002, India |
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Country
: |
India |
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|
|
|
Financials
(as on) : |
31.03.2006 |
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Date
of Incorporation : |
12.04.1986 |
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|
|
|
TAN
No.: [Tax
Deduction & Collection Account No.] |
DELA13210B |
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|
|
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PAN
No.: [Permanent
Account No.] |
AAAFA2753N |
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|
|
|
Legal
Form : |
Partnership concern with an unlimited liability of the
partners. |
|
|
|
|
Line of
Business : |
Importers, traders, representatives and dealers of all
kinds of electric and electronic components and devices specially
semiconductor devices and automation. |
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
350000 |
|
|
|
|
Status
: |
Satisfactory |
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|
|
|
Payment
Behaviour : |
Usually
correct |
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|
|
Litigation
: |
Clear |
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|
Comments
: |
This report is based on an interview with Mr. Amit Jain of
the concern. Subject is a well established concern having satisfactory
track records. Partners are reported as experienced, respectable and having
satisfactory means of their own. Their trade relations are reported as fair.
The concern is facing well. The concern can be considered normal for business dealings
at usual trade terms and conditions. |
LOCATIONS
|
Registered
Office : |
24 / 4866 Harbans Singh Street, Ansari Road, Darya Ganj,
New Delhi 110002, India |
|
Tel.
No.: |
91-11-23262176/23269011/23274427 |
|
Fax
No.: |
91-11-23273554 |
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E-Mail
: |
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|
Website
: |
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|
Area : |
1200 Sq.ft |
|
Location : |
Owned |
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|
|
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Representative
at: |
Delhi,
Mumbai, Kolkata, Bangalore, Kanpur, Hyderabad, Baroda, Chennai and Pune. |
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Branches: |
Located
at :
Tel. No. 91-22-24464908/24464910 Fax. No. 91-22-24464908/24459986 E-mail. arihantmumbai9vsnl.net Mobile No. 91-9820036189 Contact Person - Mr. Prashant
Gupta
Tel. No. 91-33-23344701/23344702 Fax. No. 91-33-2324665 E-mail. arihant@giascl01.vsnl.net.in Mobile No. 91-98310013049 Contact Person - Mr. Neeraj Jain
Tel. No. 91-512-2560098 E-mail. srivastavask@rediffmail.com Contact Person - Mr. S. K.
Srivastav
Tel. No. 91-80-51162092 Fax. No. 91-80-51162433 Mobile N. 91-9845250911 E-mail. arihantb@blr.vsnl.net.in Contact Person - Mr. Rajesh
Aggarwal
Tel. No. 91-202-5284771 Fax. No. 91-202-5451850 Mobile No. 91-9822403567 E-mail. arihantpune@yahoo.com Contact Person - Mr. Nitin
Kulkarni
Tel. No. 91-40-27816595 Fax. No. 91-40-27721048 Mobile No. 91-9849065564 E-mail. patkarbalram@pol.net.in Contact Person - Mr. E. Raghunath
Tel. No. 91-712-2526270 Mobile No. 91-9822575038 E-mail kasture@satyam.net.in Contact Person - Mr. Ajay Kasture
Tel. No. 91-265-2463009 Mobile No. 91-9825319979 E-mail arihantguj@icenet.in Contact Person - Mr. Vinay
Bhosekar
Contact Person - Mr. V. K. Singh
Contact Person - Mr. Sameer Pal
Tel. No. 91-44-22650666 Mobile No. 91-9884040101 E-mail. arihantchennai@vsnl.net Contact Person - Mr. Ramesh |
PARTNERS
|
Name : |
Mr. Amit Jain |
|
Designation
: |
Managing Partner |
|
Address: |
U-23, Green Park Extension, New Delhi – 110 016. |
|
Age: |
48 years (1958) |
|
Qualification: |
Graduate |
|
Other
Directorship: |
Arihant
Systems and Electricals Private Limited Curio Craft, India |
|
Experience: |
24 Years |
|
|
|
|
Name : |
Mrs. Bina Jain |
|
Designation
: |
Partner |
|
Address: |
U-23, Green Park Extension, New Delhi – 110 016. |
MAJOR SHAREHOLDERS
|
Names of Shareholders |
Percentage of Holding |
|
Mr.
Amit Jain |
50% |
|
Mrs. Bina Jain |
50% |
BUSINESS DETAILS
|
Line
of Business : |
Importers, traders, representatives and dealers of all
kinds of electric and electronic components and devices specially
semiconductor devices and automation. |
|
|
|
|
Products
: |
|
|
|
|
|
Agencies
Held : |
Ø
Ferraz
Shammut, France Ø
Infneon
Technologies Asia Pacific Pte Ltd, Germany Ø
Epcos
Pte Ltd Germany Ø
Crozet,
France Ø
Hubner,
Germany Ø
Kaschmersal. |
|
|
|
|
Imports
from : |
France, Italy, Germany and Singapore |
|
|
|
|
Terms
: |
|
|
Purchasing : |
Cash and 30 to 60 days L/C and Credit Terms (30 days) |
|
|
|
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Selling : |
Credit (60 to 90 days) |
GENERAL INFORMATION
|
Customers
: |
Customers are mainly Wholesalers, Retailers, Manufacturers,
End Users, OEM’s and Government Bodies. Some of its major customers are as under: Ø ABB Limited, New Delhi Ø Siemens Limited Ø Larsen And Tourbo Limited Ø Bharat Heavy Electricals Limited Ø Steel Authority of India Limited Ø Ispat Industries Limited, Mumbai Ø Birla Cooper Limited Ø Essar Steel Limited Ø Hindalco Industries Limited Ø Railways Ø Defence Ø National Aluminium Company Limited Ø Indian Aluminium Company Limited Ø Tata Iron And Steel Company
Limited Ø Tata Engineering And Locomotive
Company Limited Ø Bajaj Group |
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|
|
|
No. of
Employees : |
5 |
|
|
|
|
Bankers
: |
Ø
Union
Bank of India, 4/14A, Asaf Ali Road, New Delhi – 110 002 |
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|
|
|
Facilities : |
Credit Limit: Rs. 75.000 millions |
|
|
|
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Banking Relations : |
Satisfactory |
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|
|
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Auditors
: |
M Sharma & Associates Chartered Accountant Room No. 109, Wing 2, Hans Bhavan I 10, Delhi - 110002 |
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|
|
|
Associates: |
Ø
Arihant
Systems and Electricals Private Limited, New Delhi --Traders and Suppliers of electrical products. Ø
Mahadushi
Engineering Company Private Limited, Delhi --Merchants and Exporters of Handicrafts |
CAPITAL STRUCTURE
|
Capital
Investment : |
|
|
Owned : |
Rs. 45.848 millions |
|
Borrowed : |
-- |
|
Total : |
Rs. 45.848 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
|
Particulars |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
Sales
Turnover |
341.485 |
234.033 |
185.547 |
|
|
|
|
|
|
Export
Value |
0.754 |
0.663 |
0.497 |
|
|
|
|
|
|
Import
Value |
235.053 |
127.147 |
120.473 |
|
|
|
|
|
|
Net
Profit |
6.026 |
3.006 |
1.999 |
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2006 |
|
|
SHAREHOLDERS
FUNDS |
|
|
|
|
|
1] Share
Capital |
|
|
45.848 |
|
|
2] Share
Application Money |
|
|
0.000 |
|
|
3]
Reserves & Surplus |
|
|
0.000 |
|
|
4]
(Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
45.848 |
|
|
LOAN
FUNDS |
|
|
|
|
|
1]
Secured Loans |
|
|
47.113 |
|
|
2]
Unsecured Loans |
|
|
29.637 |
|
|
TOTAL BORROWING |
|
|
76.750 |
|
|
DEFERRED
TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
122.598 |
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|
|
|
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|
|
|
APPLICATION
OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED
ASSETS [Net Block] |
|
|
2.146 |
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|
Capital
work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX
TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT
ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
57.073 |
|
|
Sundry
Debtors |
|
|
108.362 |
|
|
Cash
& Bank Balances |
|
|
0.394 |
|
|
Other
Current Assets |
|
|
0.000 |
|
|
Loans
& Advances |
|
|
8.779 |
|
Total Current Assets |
|
|
174.608 |
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current
Liabilities |
|
|
54.156 |
|
|
Provisions |
|
|
0.000 |
|
Total Current Liabilities |
|
|
54.156 |
|
|
Net Current Assets |
|
|
120.452 |
|
|
|
|
|
|
|
|
MISCELLANEOUS
EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
122.598 |
|
KEY
RATIOS
|
PARTICULARS |
|
|
|
31.03.2006 |
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
|
2.85 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
|
3.22 |
LOCAL AGENCY FURTHER INFORMATION
Arihant Electricals was formed in 1987 and has rapidly
grown since then to gain acceptance and recognition today in the vast and
rapidly expanding Indian market as a reliable supplier of equipment in deals in
and has now achieved a position of eminence in its field. The company now
caters to a wide geographic are encompassing almost all the important
industrial areas in India, with well established offices in following locations
: Delhi, Kolkatta, Bangalore, Mumbai, Bokaro, Vadodara, Kanpur, Pune, Chennai,
Nagpur, Hyderabad and Indore which facilitate a comprehensive coverage of
the geographically vast industrial area of India.
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.44.93 |
|
UK Pound |
1 |
Rs.85.71 |
|
Euro |
1 |
Rs.57.34 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP
CAPITAL |
1~10 |
6 |
|
OPERATING
SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS
SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT
LINES |
1~10 |
6 |
|
--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 |
|
54 |
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 |
|
NR |
In view
of the lack of information, we have no basis upon which to recommend credit
dealings |
No Rating |
|
PRIVATE & CONFIDENTIAL : This information is provided to you at your
request, you having employed MIPL for such purpose. You will use the
information as aid only in determining the propriety of giving credit and
generally as an aid to your business and for no other purpose. You will hold
the information in strict confidence, and shall not reveal it or make it known
to the subject persons, firms or corporations or to any other. MIPL does not
warrant the correctness of the information as you hold it free of any liability
whatsoever. You will be liable to and indemnify MIPL for any loss, damage or
expense, occasioned by your breach or non observance of any one, or more of
these conditions