MIRA INFORM REPORT
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Report Date : |
18.11.2006 |
IDENTIFICATION DETAILS
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Name : |
ROLEXMETAL DISTRIBUTORS |
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Registered Office : |
57-A, Khatargalli,
Thakurdwar, Mumbai-400002, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2005 |
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Date of Incorporation : |
1976 |
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Legal Form : |
Proprietorship
concern |
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Line of Business : |
Trader
and importer of Stainless Steel, Carbon Steel, Alloy Steel, Boiler Quality
Plates, Pipes and Pipe Fittings |
RATING & COMMENTS
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MIRA’s Rating : |
C |
RATING
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STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk
exists. Caution needed to be exercised |
Credit not recommended |
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Maximum Credit Limit : |
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Status : |
Poor |
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Payment Behaviour : |
Slow and delayed |
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Litigation : |
Unknown |
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Comments : |
Management
remained non-cooperative despite of several approaches. The concern is not much known and it’s
payments and dealings are reported as troublesome at times. It
can be considered for small to mediocre business on fully safe and secured
trade terms and conditions, only. |
LOCATIONS
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Registered Office : |
57-A, Khatargalli,
Thakurdwar, Mumbai-400002, Maharashtra, India. |
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Tel. No.: |
91-22-23858802/23858802/23823963 |
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Mobile No.: |
91-9820292499 |
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Fax No.: |
91-22-23898724 |
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E-Mail : |
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Website : |
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Area : |
Rented
– 100 sq.fts |
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Head Office : |
Rolex
Metal Distributors 57-A,
Khatargalli, Thakurdwar, Mumbai-400002, India |
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Tel. No.: |
91-22-23858802/23823963 |
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Fax No.: |
91-22-23898724 |
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E-Mail : |
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Website : |
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Representatives at : |
>
1-5-1 Toranomon, Minato-Ku, Tokyo-1058431, Japan Tel.
No.: 81-3-35026448 Fax
No.: 81-3-35026428 E-Mail:
rolexjp@rolexmetal.com >
S-43745, Verberg, Sweden Tel.
No.: 46-340-666942 Fax
No.: 46-340-666950 E-Mail:
rolexswd@rolexmetal.com >
8706, Katy Freeway, Suite 300, Houston, TAX-77024, U.S.A. Tel.
No.: 713-688-4646 Fax
No.: 713-688-7647 E-Mail:
rolexusa@rolexmetal.com >
Cidex 68 Voie Communale 101 64172 Serres Sainte Mari, France Tel.
No.: 33-5-59832485 Fax
No.: 33-5-59833811 E-Mail:
rolexfra@rolexmetal.com |
SOLE PROPRIETOR
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Name : |
Mr.
Mukesh Shah |
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Designation : |
Proprietor
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BUSINESS DETAILS
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Line of Business : |
Trader
and importer of Stainless Steel, Carbon Steel, Alloy Steel, Boiler Quality Plates, Pipes and Pipe Fittings |
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Products : |
Ø
Pipes and Tubes Ø
Rods and Bars Ø
Flanges Ø
Sheets and Plates Ø
Fittings |
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Imports from : |
Japan,
Germany, Spain, USA, Europe, Ukraine and Romania, China and U. K. |
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Terms : |
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Selling : |
Cash
and Credit |
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Purchasing : |
L/C
and D/A terms |
GENERAL INFORMATION
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Customers : |
Ø
Aditya Birla Group Ø
GEB Ø
IBP Ø
Indian Oil Ø
Fluor Daniel Ø
TATA Ø
GE Ø
BHEL Ø
Reliance Ø
Bajaj Ø
Ford Ø
BOC Ø
Hyundai Ø
Honda Ø
Essar Ø
ISPAT Ø
Crompton Greaves Ø
Mahindra Ø
Jindal Ø
BPL Ø
Maruti Suzuki Ø
Godrej Ø
Hinduja Group Ø
Jk tyre Ø
HCC Ø
Exide Ø
Hindustan Lever Ø
Mitsubishi Ø
Kellogg Ø
Murugappa Group Ø
Nalco Ø
OPEL Ø
Philips Ø
Toyota Ø
TVS Ø
ABB Ø
DUPONT Ø
Skanska Ø
Aker Kvaerner Ø
Hindustan Petrolium Ø
HSL Ø
ONGC Ø
Bechtel Ø
L & T Ø
RCF |
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No. of Employees : |
3 |
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Bankers : |
Bank
of India, Mumbai |
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Banking Relations : |
Unknown |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
2.000
millions |
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Borrowed : |
-- |
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Total : |
2.000
millions |
FINANCIAL
DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2005 |
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Sales Turnover |
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20.00/30.000 |
LOCAL AGENCY FURTHER INFORMATION
Subject import carbon steel,
alloy steel etc.
They always maintain bulk stock of materials for catering to their esteemed customer. They offer the material to carry out inspection at their yard prior to dispatch by their customer/their recommended third party inspection agency since they have got In-house testing facilities to carry out the Hydrostatic test, Physical and Chemical analysis, Radiography, I.G./ Ultrasonic test in co-ordination with the reputed test house of Mumbai. With their efficient and experienced team they have the capacity to execute fairly large and important orders, yet they are still enough to be flexible to handle the smallest requirements.
Their experienced engineers would provide technical supports on top of just general sale services.
Their materials are manufactured and fully certified to meet ASTM/ASME and other international standards.
Having an engineering base team means that we can understand the technical needs of our clients better and our flexibility enables them to provide single piece order or complete package requirement of varieties of products in single or multiple orders and projects.
They focus on the total needs of their clients from a particular industry in order to reduce the needs for most buyers having to deal with multiple suppliers due to size and variety of products from several different sources and from various parts of the world. They also reduce the need for most buyers having to deal with many different sales people and departments within the same trading companies.
They have been successfully doing this in India for past 28 years. Their long experience and vast network of manufacturing sources around the worlds enable them to provide the most competitive prices and reliable services to their clients.
Their strength is their people, their resources, their reflexibility and their commitment to serve their customers continuously.
Shipping and Warehousing :
Ø
Lexington
Ø
DHL
Ø
TNT
Ø
UPS
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
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Indian Rupees |
|
US
Dollar |
1 |
Rs.45.01 |
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UK
Pound |
1 |
Rs.84.91 |
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Euro |
1 |
Rs.57.48 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
2 |
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PAID-UP CAPITAL |
1~10 |
2 |
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OPERATING SCALE |
1~10 |
2 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
2 |
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--PROFITABILIRY |
1~10 |
-- |
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--LIQUIDITY |
1~10 |
-- |
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--LEVERAGE |
1~10 |
-- |
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--RESERVES |
1~10 |
-- |
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--CREDIT LINES |
1~10 |
-- |
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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 |
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8 |
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
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STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely
sound financial base with the strongest capability for timely payment of
interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is
considered normal. Capable to meet normal commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable &
favourable factors carry similar weight in credit consideration. Capability
to overcome financial difficulties seems comparatively below average/normal. |
Small |
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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 |
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<10 |
C |
Absolute credit risk
exists. Caution needed to be exercised |
Credit not recommended |