MIRA
INFORM REPORT
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Report Date : |
03.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
KHANNA GROUP |
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Registered Office : |
110, Prakash Deep Building, 7 Tolstoy Marg, New Delhi – 110001 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1957 |
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Legal Form : |
Group of Companies |
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Line of Business : |
Subjects act as an Indenting Agent. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 : |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a medium sized Group in Northern India. Management is
experienced, respectable and having satisfactory means. Trade relations are
fair. Payments are usually correct and as per commitment. The Group can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
110, Prakash Deep Building, 7 Tolstoy Marg, New Delhi – 110001 |
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Tel. No.: |
91-11-23325435 / 23328707 / 23710440 / 23753210 |
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Fax No.: |
91-11-23712881 / 23713522 / 23710441 |
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E-Mail : |
khannaent@khannagroupindia.com [For Khanna Enterprises] mrkint@khannagroupindia.com ritmanint@khannagroupindia.com [For Ritman International] [For RCK International] synergyimpex@khannagroupindia.com [For Synergy International] |
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Website : |
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Area : |
1200 sq. ft. |
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Location : |
Owned |
PARTNERS /
DIRECTORS IN GROUP
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Name of the Company : |
Khanna Enterprises |
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Name : |
Mr. Sudhir Khanna |
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Date of Birth/Age : |
58 Years |
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Qualification : |
Graduate |
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Experience : |
25 Years |
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Mobile No. : |
91-9810110634 |
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Name of the Company : |
Ritman International |
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Mrs. Poonam Khanna |
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Name of the Company : |
M R K International |
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Name : |
Mr. Manav Khanna |
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Date of Birth/Age : |
23 Years |
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Qualification : |
Graduate |
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Experience : |
3 Years |
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Name of the Company : |
Synergy Impex |
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Ms. Pia Khanna |
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Name of the Company : |
R C K International |
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Mrs. Sudhir Khanna |
BUSINESS DETAILS
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Line of Business : |
Subjects act as an Indenting Agent. |
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Products : |
Petrochemicals Engineered Plastics, specializing in
Modified Plastics / Compounds / Specialty Compounds. Minerals & Metals Fluorspar, a Rare Earth mineral used for manufacturing of
Refrigerant Gases such as HCFC Gases. Tungsten and Molybdenum products, Rare Earch NdFeb Magnets
( (Neodymium - Iron - Boron - Based Magnet) Hot Stamping Foils Graphic Foils / Pigment Foils / Textile
Foils / Holographic Foils / Laser Security Foils / Registration Holographic
Foils and Wallpaper Holographic Foils. For: Packaging
material, Plastics, Textile / Leather, Furniture and Paper etc. Colour Picture Tube & Components From Complete Tubes (CDT / Colour CRT /
B&W CRT), Deflection Yoke and Electron Gun, To All the Components / Raw
Materials required for manufacturing the CDT / Colour CRT / B&W CRT. Lighting Industrial & Commercial Lighting
Industry. Finished Lamps, Semi-finished Lamps, Lamps in Broken Down
Kit form (SKD), Raw Materials / Components (CKD), To Fixtures and Fittings
for the Lighting Industry. Main Product Heads being managed in this industry
currently are HID, CFL & LED. Chemicals Precision Tooling and Machinery CPT and Components |
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Exports : |
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Countries : |
Very Little to Bangladesh, Sri Lanka etc |
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Imports : |
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Countries : |
Very Little Direct Import |
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Terms : |
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Selling : |
L/C, D/A and DP and Credit [30 days] Local Sales : Cash or 30 days Credit |
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Purchasing : |
L/C, D/A and DP and Credit [30 to 45 days] |
GENERAL
INFORMATION
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Suppliers : |
Ř Henan Ancai
Hi-Tech Company Limited, China Glass Panel Ř Yantai Zhenghai Electronic
Mask Company Limited – China Shadow mask Ř Dalin Daxian
Company Limited – China Metal Parts Ř Shijiazhuang
Baodong Electron Company Limited – China Glass Stem Ř Shijiazhuang Baoshi
Electron Group Company Limited – China Glass Neck Tubing Ř Chengdu Book
Digital Company Limited – China D Y Ř Guangdong
Dongguan Teamrun Electronic Material Company Limited – china Graphit Ř Zhejiang Minmetals
Huaxing Imp and Exp Company Limited – China Fluorsper Ř Shanghai
Shenyong Stamping Foil Company Limited – China Stamping Foils Ř Nanjing Sun
Lighting Technologies Company Limited – China Getters Ř Shandong Dawn Group
Company Limited – China Plastic Compounds Ř Cixi Tianolong
Electronics Company Limited – china Mould and
Separators Ř Shengyang
Everbright and Bodycote Lighting Electric Company Limited – China Lighting |
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Customers : |
Ř Samtel Group Ř JTC Group Ř Manohar
Packaging, Mumbai and Goa |
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No. of Employees : |
12 [In Group] |
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Bankers : |
Khanna
Enterprises City Bank, Parliament Street, New Delhi Account No. : 0414318002 Ritman
International City Bank, Parliament Street, New Delhi Account No. : 0416772002 M R K
International City Bank, Parliament Street, New Delhi Account No. : 0425636227] ABN Ambro Bank, C. Place, New Delhi Synergy Impex City Bank, Parliament Street, New Delhi R C K
International City Bank, Parliament Street, New Delhi |
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Banking
Relations : |
-- |
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Group Companies : |
Ř
Khanna Enterprises Ř
M R K International Ř
Ritman International Ř
RCK International Ř
Synergy International |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 4.000 Millions |
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Borrowed : |
-- |
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Total : |
Rs. 4.000 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2007 |
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Group Turnover [For their Principals] |
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2250.000 |
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Commission |
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2 % to 12 % |
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Normal Average Commission |
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5 % |
Expected Sales (2007-08) : Rs. 2500 Millions
LOCAL AGENCY
FURTHER INFORMATION
History
Mr. Rattan Chand Khanna
In 1957 started his 1st company as
Khanna International
As Per Website
The Khanna Group has evolved over 5 decades of doing
business around the globe, creating a global platform to connect India to the
International business market.
KGI is a synergy of Individual organizations and their strengths. where By
combining individual resources and networks they are able to extend a peerless
competitive edge to their clients, in business fields catered to. They have
positioned their selves as one of the leading Indenting Houses in India , well
connected with overseas suppliers in diverse fields and industries, for the
sale of their products in the Indian market. Service being the Key to their
Business Orientation, they aim to make it convenient for the Indian
industries', to step out of their generic domestic boundaries and source &
sell globally.
Nature
of Business
They have positioned their selves as a leading Indenting
House representing foreign companies for the sale of their products in India.
They are a service oriented business providing complete market solutions to
overseas suppliers from market penetration, strategy formulation to sales and
services.
They act as a domestic office of the overseas suppliers with whom agreement
signed / achieved. They are Indenting Agents and are not performing trading
activities such as stock and local sale.
As an additional service for the domestic / Indian customers if required they
can link customers with traders who could stock and sale for customers with
such requirements.
Works
Business activities have been widely spread out in many
fields and industries. Industry of core interest being Colour Picture Tube (CPT
Industry), Petrochemical Industry, Lighting Industry (mainly industrial lighting),
Hot Stamping Foils, Rare Earth Metals and Minerals, Machinery and various
Chemicals. Various products being handled are listed in the product page of the
website.
Inquiries for items other than those listed in the product
page are also solicited.
Besides industries manufactured they can also handle sales
for any other product being manufactured by you and which is allow to be
marketed under the Indian Import Policy.
Terms
of Business
The Khanna Group has been doing business over 5 decades. Through
their evolution they have designed a policy strictly followed by all group
companies.
For supplier representation :- As a company policy to be
able to represent an overseas supplier / factory a formal Agency Agreement must
be signed appointing the company of the Khanna Group India as the sole
indenting agents of the said factory / supplier with exclusive rights for the
sale of their product in India.
On achievement of the agreement they assure to put in all
their efforts and resources to only promote the product of the agreed party in
India.
As Indenting Agents they work on commission basis (which is
set on mutual consent in the agency agreement) for quantities sold in India.
For Buyer :- Since they are Indenting Agents / Marketing
Agents for the overseas suppliers they are not performing trading activities of
stock and local sale. Against all inquiries for purchase orders have to be
released favouring the factory –supplier. Goods will be shipped by the factory
consigning them to the customer directly where by the customer must perform the
activities for custom clearance and port handling. Against procured goods the
customer must open an L/C directly in the name of the supplier.
In case if customers who do not have import licence and are
seeking an option for local purchase they can arrange facilities for a trader
to import the material on the behalf, who will perform all said activities and
can sell the material to you locally at an additional cost. The goods / services
of the trader can be discussed directly between customers and the traders,
which can be arranged by them
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.42.90 |
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UK Pound |
1 |
Rs.84.96 |
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Euro |
1 |
Rs.57.21 |
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 |
7 |
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--PROFITABILIRY |
1~10 |
5 |
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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 |
YES |
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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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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
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RATING |
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 |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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