MIRA INFORM REPORT
|
Report Date : |
27.11.2006 |
IDENTIFICATION DETAILS
|
Name : |
VIJAY
SALES |
|
|
|
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Registered Office : |
108, Lady Jamshedji Road,
Near Sitla Devi Temple, Mahim, Mumbai - 400016, Maharashtra |
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Country : |
India
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Financials (as on) : |
31.03.2006
(Estimated) |
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|
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TAN No.: [Tax Deduction & Collection Account No.] |
MUMV07473E
/ MUMV07767E |
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Line of Business : |
Wholesalers and
Distributors of Chimneys, Dishwasher, DVD, VCR, VCD, Video Camera, Water
Purifier, Walkman, Hi-Fi Separates, Washer/Dryers, Refrigerators, Air
Conditioners, Vacuum Cleaners, Microwave Ovens, Cooking Range, Gas Tables,
Mixer and Mobile Phones. |
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 600000 |
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Status : |
Good |
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Payment Behaviour : |
Usually Correct |
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|
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Litigation : |
Clear |
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Comments : |
Subject
runs 8 large retail showrooms for marketing consumer durables &
appliances in Mumbai. All the showroom are located in prime locations &
nicely furnished. Trade
relations are fair. Payments are usually correct & as per commitments. Subject
can be considered good for normal business dealings at usual trade terms
& conditions. |
LOCATIONS
|
Registered Office : |
108, Lady Jamshedji Road,
Near Sitla Devi Temple, Mahim, Mumbai - 400016, Maharashtra, India |
|
Tel. No.: |
91-22-24457959 |
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Fax No.: |
91-22-24451211 |
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E-Mail : |
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Website : |
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Branches : |
Located at: Ø
Dimple Building, Lady
Jamshedji Road, Mahim,
Mumbai - 400 016, Maharashtra Tel. No. 91-22-24464822 Ø
225, Pandurang Bhuvan,
L. J. Road, Shivaji
Park, Dadar, Mumbai, Maharashtra Tel. No. 91-22-24309660 Ø
S. V. Road, Borivali
(West), Mumbai,
Maharashtra Tel. No. 91-22-28021781 Ø
Indrapuri Society,
Sion Circle, Sion,
Mumbai, Maharashtra Tel. No. 91-22-24077981/24075847 Ø
1, Abhisekh, Plot No.
65, S. V. Road, Andheri
(West), Mumbai, Maharashtra Tel. No. 91-22-26248447 Ø
S. V. Road, Goregaon
(West), Mumbai,
Maharashtra Tel. No. 91-22-28765234 Ø
Mama Parmanand Road,
Opera House, Mumbai,
Maharashtra Tel. No. 91-22-23639210 Fax. No. 91-22-23639214 |
PARTNERS
|
Name : |
Mr. Nanu Gupta |
|
Designation : |
Partner |
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|
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Name : |
Mr. Nilesh Gupta |
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Designation : |
Partner |
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Name : |
Mr. Ashish Gupta |
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Designation : |
Partner |
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|
|
Name : |
Mr. Raju Gupta |
|
Designation : |
Partner |
BUSINESS DETAILS
|
Line of Business : |
Wholesalers and
Distributors of Chimneys, Dishwasher, DVD, VCR, VCD, Video Camera, Water
Purifier, Walkman, Hi-Fi Separates, Washer/Dryers, Refrigerators, Air
Conditioners, Vacuum Cleaners, Microwave Ovens, Cooking Range, Gas Tables,
Mixer and Mobile Phones. |
|
|
|
|
Products : |
At
present the concern has 13 stores. It proposes to have 25 stores in next 2
years. |
GENERAL INFORMATION
|
No. of Employees : |
300 |
|
|
|
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Bankers : |
Not
Available |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Rs.
150.000 Millions |
|
Borrowed : |
- |
|
Total : |
Rs.
150.000 Millions |
FINANCIAL
DATA
[all figures are in Rupees Millions]
|
Particulars |
31.03.2006 (Estimated) |
31.03.2005 |
31.03.2004 |
|
Sales Turnover |
2000.000 |
1800.000 |
1500.000 |
LOCAL AGENCY FURTHER INFORMATION
History:
Subject
was established in the year 1967 at Mumbai in Maharashtra as a partnership
concern.
The
concern was set up in 1967 as a small retail store at Mahim for electronic
goods. Mr. Nanu Gupta, an ententrepreneur started the concern as a partnership
firm. Over the years, it grew steadily.
Today,
after three decades of successful operation subject has become synonymous with
quality electronic goods. It has grown from one showroom to eight showrooms all
over Mumbai
Mr.
Nanu Gupta
Partner
Profile
He
started Vijay Sales as a partnership firm. Over the years, it grew steadily and
so did the reputation of concern. Today after three decades of successful
operation of the concern has become synonymous with quality electronic goods.
It has grown from one showroom to eight showrooms all over Mumbai.
The
top management today comprises of besides Mr. Nanu Gupta, his two sons Mr.
Nilesh Gupta and Mr. Ashish Gupta, who had been raised in an environment of
entrepreneurship excellence. The concern recently opened one of its chains in
Borivali.
The concern can offer prompt and reliable after sales to all customers. Amongst other services the concern offers are: -
Ø
Easy special installment
schemes
Ø
Exciting exchange offer
Ø
Acceptance of major
credit cards
Ø
0% interest on most
products (through finance schemes)
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
|
Indian Rupees |
|
US
Dollar |
1 |
Rs. 44.64 |
|
UK
Pound |
1 |
Rs. 86.51 |
|
Euro |
1 |
Rs. 58.62 |
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 |
|
--LEVERAG |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
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--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
NO |
|
--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
|
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 |