MIRA
INFORM REPORT
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Report Date : |
22.11.2006 |
IDENTIFICATION
DETAILS
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Name : |
BELLSTONE
HI- TECH INTERNATIONAL |
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Registered Office : |
3755,
G F MAIM CHAWRI BAZAR, NEW DELHI – 100006, INDIA |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
1962 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELB09063F |
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Legal Form : |
Partnership
concern with an Unlimited Liability of the Partners |
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Line of Business : |
Manufacturers
and exporters of testing, Industrial, Engineering, Laboratory and Scientific
Instrument |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD
30,000 |
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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 company having satisfactory track. Trade relations are
fair. Financial position of the concern is good. Payments are usually correct
and as per commitments. The concern
can be considered good for any normal business dealing at usual trade terms
and conditions. |
LOCATIONS
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Registered Office : |
3755,
G F MAIM CHAWRI BAZAR, NEW DELHI – 100006, INDIA |
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Tel. No.: |
91-11-2324777,23911821,23910762,23939351,23939951,23939953, 20905241,
23939955, 23939954 |
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Mobile No.: |
91-9810085839,
91-9818408595 |
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Fax No.: |
91-11-23917561,
23251706, 23251506 |
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E-Mail : |
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Website : |
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Area : |
4,000
sq. ft. approx |
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Location : |
Owned |
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Factory: |
3764-65
Parmanand Street, Darya Ganj, New Delhi 110002 |
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Tel.
No.: |
91-11-23273751
to 23273753, |
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Overseas
Office : |
The subject is having its overseas offices at the following countries |
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Dubai
: |
Asia & Africa General trading LLC |
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Tel.
No.: |
+97142287010/11 |
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Fax
No.: |
+97142287012 |
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E-Mail
: |
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Kuwait
: |
P.O.Box 4148, Safat, Kuwait |
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Tel.
No.: |
965-2437670,
2428730 |
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Fax
No.: |
965-2402294 |
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E-Mail
: |
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Qatar : |
P.O. Box No. 22036, Doha, Qatar |
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Sri
Lanka : |
“Blondina Court” , 158 Walukarama Road, Colombo, Srilanka |
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Tel.
No.: |
977-426035 |
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Fax
No.: |
97-426035 |
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E-Mail
: |
PARTNERS
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Name : |
Mr M L
Sethi |
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Designation : |
Partners |
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Address : |
C 356
Defence Colony, New Delhi 110024 |
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Date of Birth/Age : |
65
years |
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Qualification : |
Graduate |
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Experience : |
40
years |
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Name : |
Mrs
Meena Sethi |
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Designation : |
Partners |
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Date of Birth/Age : |
61
years |
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Name : |
Mr
Amit Sethi |
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Designation : |
Partners |
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Address : |
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Date of Birth/Age : |
32
years |
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Qualification : |
Graduate,
MBA |
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Experience : |
10
years |
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Mobile : |
91-9810083859 |
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Name : |
Mr
Ashish Sethi |
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Designation : |
Partners |
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Date of Birth/Age : |
35
years |
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Qualification : |
Graduate |
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Experience : |
13
years |
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Mobile : |
91-9818408595 |
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KEY EXECUTIVES
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Name
: |
Mr
Mathew |
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Designation
: |
Administrative
Assistant |
BUSINESS DETAILS
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Line of Business : |
Manufacturers
and exporters of testing, Industrial, Engineering, Laboratory and Scientific
Instrument |
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Products : |
Ø
Geotechnical
Equipments Ø
Laboratory
Research & Scientific Equipments Ø
Microscopes Ø
Balances Ø
Laboratory
Glassware & Plastic ware Ø
Education
& Technical Training Equipments Ø
Electrical
& Electronics Instruments Ø
Reagents
& Chemicals Ø
Oil
& Petroleum Testing Equipments Ø
Survey
Equipments Ø
Surveying
Models Ø
Dairy
& Milk Testing Equipments Ø
Yarns
& Fabric Testing Equipments Ø
Pharmaceutical
Testing Equipments Ø
Medical
& Surgical Equipments Ø
Testing
Equipments Ø
Rubber
Testing Equipments Ø
Plastic
Testing Equipments Ø
Footwear/Leather
Testing Equipments Ø
Paper
Testing Equipments Ø
Agriculture
Tool & Sprayers Ø
Tools
& Hardware Ø
Precision
Measuring Instruments Ø
Industrial
Control Products Ø
Pneumatics’
& Hydraulics’ Ø
Construction
Equipments Ø
Mechanical
Hopper Ø
Hydraulic
Hopper Ø
Blender
Mixer Ø
OPT
Mechanical Hopper Ø
Slab
Trolley with Rails Ø
Needle
Vibrator Ø
Sand
Washing Machine Ø
Earth
Compactor Ø
Mini
Crane Ø
Hydraulic
Block Laying Ø
Auto
ramming Block Machine Ø
Bulldozers Ø
Wheel
Loaders Ø
Rope
Shovels Ø
Walking
Dragline Ø
Pipe
layer Ø
Crane Ø
Side
Discharge Loader Ø
Support
Equipments Ø
Bulk
Material Handing Equipments Ø
Pipettes |
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Exports to : |
Abu
Dab, Bangladesh, Botswana, Bulgaria, Ghana, Hong Kong, Jordan, Netherlands,
Nigeria, Oman, USA, Canada, Cambodia, Dubai, Kenya, Russia, South Africa, UK,
Germany, Malaysia, Sri Lanka, UAE and Zambia |
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Imports from : |
USA,
UK, Germany, China, France |
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Terms : |
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Selling : |
Telegraphic
Transfer /Letter of Credit at sigh |
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Purchasing : |
On
Irrevocable Letter of Credit at sight basis |
GENERAL
INFORMATION
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Customers : |
Whole
Salers, End Users, |
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No. of Employees : |
100 |
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Bankers : |
India
Overseas Bank, Darya Ganj, New Delhi 110002, Carara Bank, Punjab National
Bank |
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Banking Relations : |
Satisfactory |
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Subsidiaries : |
Ø
Japsin
Thermometers Ø
Jaspin
Products Indias |
CAPITAL STRUCTURE
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Capital
Investment : |
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Owned : |
Rs.
7.500 Millions |
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Borrowed : |
--- |
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Total : |
Rs.
7.500 Millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
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Particulars |
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31.03.2006 |
31.03.2005 |
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Sales Turnover |
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150.000 |
135.000 |
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Profit/(Loss)
Before Tax |
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2.625 |
2.228 |
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Profit/(Loss)
After Tax |
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2.300 |
2.000 |
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Expected
sales for the year March 2007 : Rs. 180.000 Millions
LOCAL AGENCY
FURTHER INFORMATION
The
subject is a Manufacturer, exporter & importer of Testing, Industrial,
Engineering, Laboratory and Scientific Instruments. The subject company was
established in 11962 by Mr M L Sethi. The subject is exporting their products
for more than 25 countries globally. The inquired address is the subject’s
registered and sales office and it is situated at prime commercial location.
The subject company premise is owned by them.
Mr Amit
Sethi is looking after international marketing and Mr Ashish Sethi is looking
after domestic marketing. Mr ML Sethi is looking after production and
administrative activities.
An
Indian Export House of Recognition. – 90,000 Varieties of Latest testing,
industrial, engineering,loboratory and scientific instruments. With over 40
years of experience, managed for 3 generation, bell stone has a history of
growth and development with a number of notable milestones. Today they stand as
one of the biggest industrial department stores in Asia registering their name
in the book of records.
They
have mammoth quantity of ready stock with us. Each product is well packed along
with detailed instruction manuals. They provide the products as well as their
packing and labelling with buyers brand name. Bell stone develop, design and
manufacture semi finished product according to customer satisfaction and
design.
Bell
stone’s qualified staff is always striving hard to introduce new quality
products and is always innovative. Dedicated staff of technician exclusively
deals with careful testing of their products prior to the shipment carries
quality certificates and approvals
Bellstone’s
dedication to the services of science, education, health and industry is the
rich heritage of the company that continues today and will be fostered in
future too. They have satisfied cliental all around the globe, including
foreign governments, ministry of education and labour, World Bank, United
Nations development.Progamme and many more.
Precision,
quality and affirm belief in perfection has resulted in constant up gradation
of technology andantinos of the existing products facilities to meet changing
and exacting demands. Which means having the best of men and machines.
Their
research and test laboratory has approved products certification from renowned
laboratories of govt. of India like national physical laboratory, regional
testing centre, electronic research test laboratories etc.
Their
motto is end user satisfaction. They are determined to provide their client
with premium quality product. And so they are well prepared to expire the new
market demands with their quality products with zeal and passion involving
their skill and experience of yester years with today’s modern techniques. They
dedicate their selves to serve the customer to their satisfaction and assure
their utmost consideration at all times.
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.44.70. |
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UK
Pound |
1 |
Rs.85.57 |
|
Euro |
1 |
Rss.57.82 |
SCORE &
RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
6 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
6 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
6 |
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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 |
YES |
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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 |
|
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 |
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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 |
|
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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