MIRA
INFORM REPORT
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Report Date : |
01.11.2006 |
IDENTIFICATION
DETAILS
|
Name : |
GADSEC
SOLUTIONS |
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Registered Office : |
C –
1/002, Printers Apartment, Sector – 13, Rohini, New Delhi – 110085 |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
1998 |
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Legal Form : |
Partnership
concern with an unlimited liability of the partners |
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Line of Business : |
Manufacturer
and Supplier of Security and Safety Equipments |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD
10000 |
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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 a well – established concern having satisfactory track. Trade relations
are fair. General financial position is satisfactory. 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 : |
C –
1/002, Printers Apartment, Sector – 13, Rohini, New Delhi – 110085 |
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Tel. No.: |
91-11-27043789/27551745 |
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Fax No.: |
91-11-27043789 |
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E-Mail : |
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Website : |
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Location : |
Owned
(Residential) |
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Factory
1 : |
Khasra
No. 1147, Rithala Village, New Delhi – 110085 |
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Tel.
No.: |
91-11-27043789
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PARTNERS
|
Name : |
Mr.
Amitabh Sharma |
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Designation : |
Partner
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|
Address : |
C –
1-002, Printers Apartment, Printed Cooperative Housing Society, Sector – 13,
Rohini, New Delhi – 110085 |
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Date of Birth/Age : |
34
Years |
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Qualification : |
Graduate
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Experience : |
15
Years |
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Mobile No.: |
91-9811143210/9811017522 |
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Tel. No. |
91-11-27551745 |
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|
|
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Name : |
Mr.
Vinay Sharma |
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Designation : |
Partner
|
|
Address : |
C –
1-002, Printers Apartment, Printed Cooperative Housing Society, Sector – 13,
Rohini, New Delhi – 110085 |
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Date of Birth/Age : |
38
Years |
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Qualification : |
Graduate
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Experience : |
17
Years |
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Tel. No. |
91-11-27551745 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer
and Supplier of Security and Safety Equipments |
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|
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Products : |
v
Card
Access Control v
Digital
Video Recorder v
Monitor
v
Fire
Alarm Panel v
Automatic
Fire Extinguisher v
Auto
Iris Zoom Lens v
C
Mount Colour Camera v
Control
Unit v
Eight
Zone Expandable Alarm v
Passive
Infrared Detector v
Six
Zone Alarm Panel v
Surveillance
Equipment v
Wireless
Security v
Motion
Detectors v
Glass
Break Detectors v
Photoelectric
Sensors v
Fire
& Smoke Detectors v
Passive
Infrared Detector |
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Imports from : |
Korea,
Taiwan and China |
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Terms : |
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Selling : |
Cash
Against Delivery and Credit (60 to 90 days) for Government Agencies |
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Purchasing : |
On
Document against Payment Basis |
GENERAL
INFORMATION
|
Customers : |
v
Punjab
National Bank v
State
Bank of Patiala v
Union
Bank of India v
State
Bank of India v
State
Bank of Bikaner & Jaipur v
Bank
of India v
Central
Bank of India v
Allahabad
Bank v
Bank
of Baroda v
Syndicate
Bank v
Punjab
& Sind Bank v
Indian
Bank v
Oriental
Bank of Commerce v
Bank
of Maharashtra v
Bank
of Tokyo-Mitsubishi Limited v
Deutsche
Bank v
Kangra
Co-Operative Bank Limited v
Dena
Bank v
Central
Industrial Security Force, Ministry of Home Affairs v
Police
Head Quarter, Rajasthan v
National
Thermal Power Corporation (NTPC) v
Hungarian
Embassy v Escorts Limited v
Whirlpool
India Limited v
Exxon
Mobil Company Limited v
Safdarjung
Motors (Hyundai Motors) v
Mothersons
Sumi Infotech Designs Limited v
Reliance
Industries Bhilwara Group v
Department
of Telecommunication v
Defence
Institute of Fire Research v
Asian
Paints v
Air
Vice Marshal (Residence) v
Air
Commodore (Residence) v
Quarter
Master General's (Residence) v Vikas Chains & Jewellery
Private Limited (All showrooms in Delhi) v
Goel
Sons Jewellers Private Limited v
Capital
Foods Limited v
Keshav
Sehkari Bank v Whirlpool of India |
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No. of Employees : |
16 |
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Bankers : |
v
Bank
of India v
Canara
Bank |
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Facilities : |
-- |
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Banking Relations : |
Satisfactory
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
|
Capital
Investment : |
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Owned : |
Rs.
2.000 Millions |
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Borrowed : |
-- |
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Total : |
Rs.
2.000 Millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
|
Particulars |
|
31.03.2006 |
31.03.2005 |
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Sales Turnover |
|
17.500 |
15.000 |
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Profit/(Loss)
Before Tax |
|
0.831 |
0.675 |
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Provision
for Taxation |
|
0.081 |
0.075 |
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Profit/(Loss)
After Tax |
|
0.750 |
0.600 |
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Import Value |
|
6.125 |
4.500 |
The projected
turnover for the financial year ending 31.03.2007 shall be around Rs. 22.500
Millions approx as claimed by the subject
KEY
RATIOS
|
PARTICULARS |
|
|
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
|
4.29 |
4.00 |
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Net
Profit Margin (PBT/Sales) |
(%) |
|
4.75 |
4.50 |
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Return
on Investment (ROI) (PBT/Networth) |
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|
37.50 |
48.00 |
LOCAL AGENCY
FURTHER INFORMATION
The
subject is supplying their products to Ministry of Defence, Public Sector
Undertakings, Nationalised and Private Banks.
Mr.
Amitabh Sharma, partner is looking after marketing activities and Mr. Vinay
Sharma is looking after production activities
About
Us
They started their business operations in the year 1998, with a view to provide
their esteemed customers a Better, Innovative, State of the Art, User-Friendly
Devices and Technology in the field of Security and Safety Equipments. In the
process, they have explored some of the useful equipments and supplied
successfully to their valued clients in both Public as well as Private Sectors.
In a view to provide prompt and efficient After Sales Services, they have a
team of technically qualified personnel serving to the satisfaction of all
concerned customers.
Items
Dealing In
v
Cash Bag Alarm System
v
'BONPET' - Automatic Fire Extinguisher
v
Microprocessor Based/Conventional
Security Alarm System
v
Microprocessor Based/Conventional Fire
Alarm System
v
Fire Extinguishing Media viz.
Sprinklers & Wet Riser, Extinguishers
v
Central Monitoring Station (CMS)
v
Ultra Violet Lamp for Detection of
Forged Documents
v
CCTV System/Digital Video Recording
System
v
Metal Detectors (HHMD & DFMD)
v
Access Contro System
Company Profile
|
Business Type |
Exporter ,
Manufacturer , Importer |
|
Export Percentage |
40% |
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Import Percentage
|
50% |
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Primary
Competitive Advantages |
Quality with commitment |
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No of Staff |
15 |
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Year of
Establishment |
1998 |
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No of Production
Lines |
One |
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Export Markets |
Worldwide |
|
OEM Service Provided |
No |
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No of Engineers |
2 |
|
Monthly
Production Capacity |
As per product
requirements |
|
Product Range |
Security System and Security
Equipments |
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.44.68 |
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UK
Pound |
1 |
Rs.85.17 |
|
Euro |
1 |
Rs.57.07 |
SCORE &
RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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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 |
|
NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
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