%2018-Aug-2007_files/image002.jpg){kind=small}
MIRA
INFORM REPORT
|
Report Date : |
18.08.2007 |
IDENTIFICATION DETAILS
|
Name : |
ELAN GLOBAL (PACIFIC EXPORT) |
|
|
|
|
Registered Office : |
41 / 42, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2007 |
|
|
|
|
Date of Incorporation : |
1973 |
|
|
|
|
Legal Form : |
Sole Proprietory Concern |
|
|
|
|
Line of Business : |
Traders, Exporters and Importers of Chemicals, Pharmaceuticals and Allied
items. The concern also trader in Import Licenses |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
Maximum Credit Limit : |
USD 24000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow by average 30 days |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an old
established concern having made fortunes in trading of import licenses in
olden times. Now, the concern has steady business in general trading.
Payments are reported as slow by average 30 days. The concern can
be considered for small to mediocre business dealings at usual trade terms
and conditions |
LOCATIONS
|
Registered Office : |
41 / 42, |
|
Tel. No.: |
91-22-22840390 / 26613306 |
|
Mobile No.: |
91-9821133229 |
|
Fax No.: |
91-22-22873100 / 22840390 |
|
Area : |
2000sq.fts |
|
Location : |
Owned |
|
|
|
SOLE PROPRIETOR
|
Name : |
Mr. B P Chaudhury |
|
Designation : |
Proprietor |
|
Date of Birth/Age : |
61 years |
|
Qualification : |
Graduate |
|
Experience : |
39 years |
BUSINESS DETAILS
|
Line of Business : |
Traders, Exporters and Importers of Chemicals, Pharmaceuticals and Allied
items. The concern also trader in Import Licenses |
|
|
|
|
Products : |
Chemicals, Pharmaceuticals and Allied Items |
|
|
|
|
Imports : |
|
|
Products : |
CCTV, VDP, all security products etc. |
|
Countries : |
|
|
|
|
|
Terms : |
|
|
Selling : |
L/C |
|
|
|
|
Purchasing : |
L/C |
GENERAL INFORMATION
|
Customers : |
End Users |
|
|
|
|
Bankers : |
♠
Vijaya Bank Nariman Point, Mumbai – 400021 ♠
Citi Bank Nariman Point Branch |
|
|
|
|
Facilities : |
C/C – Rs.10.000 millions |
|
|
|
|
Banking
Relations : |
Unknown |
|
|
|
|
Associates/Subsidiaries : |
˛
Sun Export (International) Private Limited ˛
Sun Cleaning and Forwarding Services Private
Limited ˛
Aurovision |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Rs.6.000 millions |
|
Borrowed : |
-- |
|
Total : |
Rs.6.000 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
|
Particulars |
|
31.03.2007 |
31.03.2006 |
|
Sales Turnover |
|
120.000 (Approx) |
50.000 |
|
|
|
|
|
Expected Sales (2007-08) : + 20% than last year
LOCAL AGENCY FURTHER INFORMATION
AS PER
WEBSITE
Subject was set up with the goal
of becoming the leading marketer of specialised, high technology, innovative products
imported into the country.
With the opportunities created out of liberalisation and globalisation of the
Indian economy, this company is expected to be the engine for the group's
ambitious growth objectives.
Their key strengths lie in sourcing and marketing world-class products to the
Indian consumer. With access to a wide database and a keen understanding of the
local market and the Indian consumer, they have been able to leverage their
resources and positions in response to specific client needs.
Subject has entered into marketing and servicing tie-ups with several reputed
international companies who are leaders in their own fields.
They have a strong sales and distribution network across the country and are
ably supported by a team of experienced and well-qualified marketing
professionals. A team that not only understands the product very well, but
also, consumer needs. This enables them to provide consultancy in turn-key
projects and back this up with another critical success factor, namely;
in-house servicing facilities. In the specialised product lines in which they
deal, they have built up a reputation for being the leaders with respect to
after-sales service.
Customer satisfaction is enhanced to the maximum by building and nurturing the
brand. This has been the key to their high customer retention rate. Their
products are also marketed under their own brand name - 'Elan'.
Subject has a vision. A vision to enhance multi-national partnership in
multi-industry areas of core competence; to continue to provide a gateway to
the ever growing Indian market and help
Their
-
- Building Materials & Hardware
- Office Automation
About The Sun Group
The Sun Group of companies was established
in 1973 by a family of traditional entrepreneurs with a view to maximise trade
and business opportunities within and beyond the countries borders. The last
two decades of continuous growth have witnessed the group emerge as a leader in
international business.
The group's architecture and its competencies make it ideally positioned to
take advantage of the opening up of the Indian economy which has spelt greater
opportunity. The group has grown multi-fold in size and maturity over the 25
years of its existence. Today the group's turnover stands at US $ 8 million.
Its presence has been recognized by the Government of India and the
international business community as well.
The group has a strong infrastructural set-up, with offices in Mumbai,
Besides well-equipped offices located in the prime business areas, the group
also have large storing and warehousing facilities. Proximity to ports,
international banks, principal markets and Government offices gives it an
additional edge that few others can offer.
Forming the core is a team of 50 highly dedicated industry experts and
professionals with years of relevant experience who help us keep their
promises. Also close at hand are the well organised services of legal experts,
patent advocates, chartered accountants, chartered engineers and consultants in
every branch of trade, foreign collaborations and joint ventures.
Three totally independent and specialised companies form the Sun Group. The
integrating philosophy of their diverse businesses is reflected in shared
values and in their approach to managing their people, capital and corporate
reputation.
And in their mission, to retain leadership in the international market through
quality, innovation and competitiveness.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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.41.57 |
|
|
1 |
Rs.82.14 |
|
Euro |
1 |
Rs.55.74 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
38 |
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. |
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 |
|