MIRA
INFORM REPORT
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Report Date : |
27.08.2007 |
IDENTIFICATION DETAILS
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Name : |
SHAH BRASS TURNING COMPANY |
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Registered Office : |
S P Shed No. 15 / 2 / B, GIDC, Shanker Tekri, Udyog Nagar, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
2002 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer of Brass Components, Fasteners, Brass Fittings and Electronic
Lighting Parts |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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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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Maximum Credit Limit : |
USD 4000 |
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Status : |
Small Concern |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a small concern having moderate track. Trade relations are
fair. Nothing adverse reported. The concern can be considered for small business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
S P Shed No. 15 / 2 / B, GIDC, Shanker Tekri, Udyog Nagar, |
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Tel. No.: |
91-288-6546883 |
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Mobile No.: |
91-9328111979 |
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E-Mail : |
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Area : |
1900 sq. fts. |
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Location : |
Rented |
SOLE PROPRIETOR
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Name : |
Mrs. Neha Shah |
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Designation : |
Proprietor |
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Date of Birth/Age : |
29 Years |
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Qualification : |
B. Com. |
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Experience : |
3 Years |
KEY EXECUTIVES
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Name : |
Mr. Atul Shah |
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Designation : |
Manager |
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Date of Birth/Age : |
30 Years |
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Qualification : |
H S C |
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Experience : |
5 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Brass Components, Fasteners, Brass Fittings and Electronic
Lighting Parts |
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Products : |
Ø
Brass Components
Ø
Fasteners Ø
Brass Fittings Ø
Electronic Lighting Parts |
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Exports : |
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Products : |
Brass Components |
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Countries : |
Europe, |
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Terms : |
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Selling : |
Cash |
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Purchasing : |
Cash / Credit |
GENERAL INFORMATION
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Customers : |
Ø
Wholesalers Ø
End Users |
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No. of Employees : |
7 |
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Bankers : |
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Navanagar Co-op Bank, Ø
HDFC, |
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Facilities: |
The concern do not enjoy facilities from its banker |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
P P Maru and Company Chartered Accountants |
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Associates/Subsidiaries
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Adinath Brass, Line of Business: Manufacturer of Brass Components, Fasteners, Brass
Fittings and Electronic Lighting Parts |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 1.000 million |
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Borrowed : |
-- |
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Total : |
Rs. 1.000 million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
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Particulars |
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31.03.2007 |
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Sales Turnover |
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3.500 |
Expected Sales (2008) : Rs.3.500 millions
LOCAL AGENCY FURTHER INFORMATION
Trade References:
Ø
Amit sales corporation ,
Ø
Sanjeev Works,
About Them
Working with a customer-focused approach, ensuring maximum client satisfaction,
subject. has been able to craft
a landmark position in the domestic brass industry. They are a renowned manufacturer
and trader of Brass Components, Fasteners, Brass Fittings, Electronic Lighting
Parts, etc. Known for smooth finish,
high-precision and trouble-free long service life, these products find wide
application in various industries embracing lighting, hardware, sanitary
fittings, etc. Their expertise in manufacturing their collection of products as
per the drawing and samples provided by their clients has given them a
competitive edge.
Ever since their establishment in 2002, they have laid special emphasis on the
quality so that only the best products are delivered to their valued clients.
All their products are tested to ensure their durability, efficiency and
strength. They are offered at the most competitive price--the best in the
market and on time, which have fetched for them a large number of satisfied
clients. Mutual benefit and transparency are given prime emphasis in their
relationship with their esteemed clients. They have been able to maintain long
term relationships with them facilitating them to cater to their repeat orders.
Products
They, at subject, believe
that the search for excellence is an ongoing process; hence, they are committed
to deliver only excellent products to their clients.
Quality
At subject, prime emphasis
is given to quality of the products, as it is the sole factor that has helped
them to win the trust and support of a large number of customers. They follow a
strict quality control system certified by D&B, at each stage of the
manufacturing process, undertaking several tests to upkeep the quality of every
product that leaves their unit. The process and the products conform to
international market standards and guidelines. They source supreme quality raw
materials including brass scrap only from established and reliable vendors and
these are again tested at their unit. A team of quality control experts
monitors the entire manufacturing process.
Infrastructure
A sound infrastructure is
the soul of any manufacturing unit, and they boast of possessing the same. They
are equipped with the most modern semi-automatic and hand operated machinery
for manufacturing to produce zero-defect and high performance brass components.
The sophisticated production facilities enable them to execute orders of
various sizes and specifications. The greatest asset at subject. is its
technical team loaded with valuable knowledge and expertise of the user
industry. Committed towards fulfilling every objective of the company, they
work towards delivering only the best. Continual efforts in research and
development, also remain abreast with the changes in technology, keep them a
step ahead in the competitive scenario. Refining and revising of processes is
the major strength of their research team.
Why
subject.?
A few of the factors, which gives them a competitive edge over other market
players can be summarized as:
Continual
improvements in the quality of their line of products
Quality packaging
that ensures safety of products during transit and delivery
Production and
supply of only superior quality zero defect products
Long list of
satisfied customers from different industrial backgrounds
Welcome of feedback
or suggestions from clients in order to serve them better
Sound business
practices and customer centric approach
Successful execution
of small as well as bulk orders
Affordable prices
and timely delivery, leaving no room for customer grievances.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.41.18 |
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1 |
Rs.82.41 |
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Euro |
1 |
Rs.55.85 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
4 |
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OPERATING SCALE |
1~10 |
4 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
4 |
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--RESERVES |
1~10 |
4 |
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--CREDIT LINES |
1~10 |
4 |
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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 |
NO |
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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 |
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37 |
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. |
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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