MIRA
INFORM REPORT
|
Report Date : |
21.08.2007 |
IDENTIFICATION DETAILS
|
Name : |
HANUMAN INDUSTRIAL CORPORATION |
|
|
|
|
Registered Office : |
14, Netaji Subhas Road, 3rd Floor, Kolkata – 700 001, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2007 |
|
|
|
|
Date of Incorporation : |
2002 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
CALH02120G |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AACFH8599R |
|
|
|
|
Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners. |
|
|
|
|
Line of Business : |
Manufacturer, Exporter and Suppliers of Jute Bags. |
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 12000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well-established and reputed concern having satisfactory
track. Partners are reported as experienced and respectable businessmen.
Trade relations are reported as fair. Business is active. Payments are
usually correct and as per commitments. The concern can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
|
Registered Office : |
14, Netaji Subhas Road, 3rd Floor, Kolkata – 700 001, West |
|
Tel. No.: |
91-33-22426660 / 22314492 |
|
Mobile No.: |
91-9331014381 |
|
Fax No.: |
91-33-22313575 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
400 Sq. fts. |
|
Location : |
Owned |
|
|
|
|
Factory: |
Ganganagar, Near |
|
Tel. No.: |
91-9339793232 |
|
Area : |
5000 Sq. fts. |
|
Location : |
Owned |
PARTNERS
|
Name : |
Mr. S. G. Bhotika |
|
Designation : |
Partner |
|
Date of Birth/Age : |
63 years |
|
Qualification : |
Graduate |
|
|
|
|
Name : |
Mr. S. K. Bhotika |
|
Designation : |
Partner |
|
Date of Birth/Age : |
29 years |
|
Qualification : |
Graduate |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Suppliers of Jute Bags. |
|
|
|
|
Products : |
|
|
|
|
|
|
|
|
Exports : |
|
|
Products : |
Jute bags |
|
Countries : |
|
|
|
|
|
Terms : |
|
|
Selling : |
60% (Advance) and Rest Depending on party either cash or credit |
|
|
|
|
Purchasing : |
Cash |
PRODUCTION STATUS
|
Products |
|
|
|
Actual
Production |
|
Jute Bags |
|
|
|
As per Demand |
GENERAL INFORMATION
|
Customers : |
v
Wholesalers v
Retailers |
|
|
|
|
No. of Employees : |
26 – 27 (Office: 6 – 7; Factory: 20) |
|
|
|
|
Bankers : |
v
Corporation Bank v
Union Bank of |
|
|
|
|
Facilities : |
Corporation Bank – Cash Credit Limit – Rs. 4.000 millions |
|
|
|
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Associates/Subsidiaries : |
v
N. Prasad and Company Address: No. 2, Line of Business: Manufacturers of Tea
Machinery v
S. R. Packaging and Industries Private Limited Address: No. 2, Line of Business: Manufacturers of Plastic
Containers, etc. |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Rs. 3.000 millions |
|
Borrowed : |
- |
|
Total : |
Rs. 3.000 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
|
Particulars |
|
31.03.2007 |
31.03.2006 |
|
Sales Turnover |
|
Around 30.000 |
Around 28.000 |
LOCAL AGENCY FURTHER INFORMATION
Website details attached:
Subject is a well known manufacturer, exporter and
supplier of eco friendly Jute Bags
in versatile designs and ethnic range of colors. Jute Bags manufactured at their premises possess highlighting
features that increases their demand and are preferred by the customers in the
market. The Bags are available
in various designs and attractive colors made of environment friendly fabrics
at a very competitive price. They can be designed and manufacture as per the
requirement and choice of the customers. They also specialize in wide range of Promotional Bags which are made with
equal dexterity in Jute.
The Challenges
Their Company's working team is full of
zest, spirit and potential. They are ever ready to accept any bulk orders and
assure for their timely delivery. They try to fulfill the dynamic market demand
in a very satisfying way by offering high quality fashionable Bags with
required features and designs. They offer products that suit the taste and
choice of the entire customer and attract them at a first glance.
Infrastructure
They have well developed in house manufacturing facilities with art work,
screen printing, cutting and stitching machines. All works are handled by a
trained team who has experience and skill to perform their respective work with
perfection.
Clients
Since their inception, their continuous and whole hearted endeavor has been to satisfy
their vast clients' base spanning all over the world. Their products are in
great demand in the countries like
SISTER CONCERN
N.Prasad and Company
Exporters of Tea Machineries Like:-Air
Heaters, Tea Dryer, Rotorvane, Middleton Sortor, Arnott's Sorter, Fiber
Extractor, Fiber-Cum-Tinick, Tinick Sorter, Vibro Sorter, and Green Leaf
Shifter.
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 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. 41.57 |
|
|
1 |
Rs. 82.14 |
|
Euro |
1 |
Rs. 55.74 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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 |
|