MIRA
INFORM REPORT
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Report Date : |
30.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
KEWAL AUTOMOTIVES |
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Registered Office : |
991, Shivaji Gali No.2, Hardhyan Singh Road, Near Birla Flat , Karol
Bagh, New Delhi – 110 005 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1982 |
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Legal Form : |
Partnership concern with an Unlimited Liability of the partners. |
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Line of Business : |
Trader and Exporter of Auto Electric Spare Parts. |
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 : |
USD 32000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established concern having satisfactory track
records. Trade relations are fair. Payments are usually correct and as per
commitments. Nothing adverse reported. The concern can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
991, Shivaji Gali No.2, Hardhyan Singh Road, Near Birla Flat , Karol
Bagh, New Delhi – 110 005, India |
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Tel. No.: |
91-11-41035855 / 28750927 / 27212601 |
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Mobile No.: |
91-9312230470 / 9810234322 |
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Fax No.: |
91-11-41035855 / 25761927 |
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E Mail ID: |
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Website : |
http://www.kewal.tradeindia.com
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Area: |
60 sq.mtrs |
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Location: |
Owned |
PARTNERS
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Name : |
Mr. Harish Khanna |
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Designation : |
Partner |
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Address : |
B – 115, Ashok Vihar, Phase – I, New Delhi -110 052 |
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Date of Birth/Age : |
48 Years |
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Qualification : |
Graduate |
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Experience : |
25 Years |
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Name : |
Mr. Yogesh Khanna |
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Designation : |
Partner |
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Address : |
B – 115, Ashok Vihar, Phase – I, New Delhi -110 052 |
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Date of Birth/Age : |
40 Years |
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Qualification : |
Graduate |
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Experience : |
18 Years |
BUSINESS DETAILS
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Line of Business : |
Trader and Exporter of Auto Electric Spare Parts. |
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Products : |
·
Self Starters ·
Switches ·
Alternators ·
Wiring and Harness. |
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Exports : |
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Countries : |
Bangladesh and Seira |
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Terms : |
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Selling : |
L/C, Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL
INFORMATION
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Customers : |
· Ali Haider Mazz and Company Seira · Sapna Trading Company, Bangladesh |
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No. of Employees : |
15 |
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Bankers : |
Corporation Bank Address: Karol Bagh, New Delhi – 110 005 |
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Banking
Relations : |
------ |
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Associates/Subsidiaries : |
· Kewal Auto Center · Kewal Exports Address: 991, Shivaji Gali No.2, Hardhyan Singh
Road, Near Birla Flat , Karol Bagh, New Delhi – 110 005, India Activity: Trader and Exporter of Auto
Electric Spare Parts. Sale turnover of the both companies : Rs.
17.000 millions Employees of both the companies : 10 |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 8.000 millions |
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Borrowed : |
--- |
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Total : |
Rs. 8.000 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2007 |
31.03.2006 |
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Sales Turnover |
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25.000 |
22.000 |
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Profit/Loss for the year |
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11% |
11% |
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Export Value |
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100% |
NA |
Expected Sales (2007-08) : Rs. 30.000 millions.
LOCAL AGENCY
FURTHER INFORMATION
WEBSITE DETAILS:
Evolved from a small business to a world class one, they have come a long way during the last 25 years. The concern was founded in 1982. The beginning was modest but soon, it grew into prominence due to its firm commitment to quality, innovation and customer satisfaction. It grew from strength to strength in the later years to become an outstanding name both at the domestic and international level. Today, they are engaged in the industry as a manufacturer and exporter of a wide range of highly advanced Auto Electrical Spare Parts. The product portfolio of their concern comprises of Self Starters, Switches, Alternators, Wiring and Harness. At present, their concern supplies these products all over the country and has a loyal customer base worldwide. This extent of wide acclaim they have been enjoying in the market is the result of their unique technical expertise in designing auto electrical parts which are highly sophisticated, reliable and most competitively priced.
The business philosophy of the concern is based upon total
quality control and continuous improvement in its products and services. They
are governed by a set of fair and transparent business ethics, and always
endeavor to find out the best solution to all the auto electrical part
requirements. For them, customer satisfaction is the way that led to success,
and they try to achieve it making excellence their standard in all the areas of
their business.
Product Range
The concern is a globally reputed manufacturer and exporter in the field of design and development of an extensive range of Auto Electrical Spare Parts. The products that their concern offers can be categorized as the following-
·
Self Starters
·
Switches
·
Alternators
·
Wiring and Harness.
Quality
They believe that their success in the industry has become possible primarily
because of their commitment to deliver consistent quality. At the concern, they
pride their selves as a quality driven concern and always endeavor to maintain
the highest level of quality with all their products and services. To ensure
it, they maintain a well defined policy set by a strategically designed Quality
Management System. Quality objectives are set keeping in mind all the latest
quality norms both at the domestic and international level. During the
manufacturing process, stringent quality measures are taken and cutting edge
testing equipment are used to ensure flawless quality of the finished products.
In addition, they have a wide distribution network through which they are
capable of catering to the requirements efficiently and on time. They offer
home delivery services and always keep their selves ready to cater to the needs
in all the possible manner.
Strength
At the concern, their strength lies in a robust infrastructural base. They have
been in the indusry for over a period of two decades during which they have
invested regularly, upgraded their technologies time to time and thus
established an infrastructure that is robust and highly sophisticated. The
manufacturing unit of their concern is today equipped with all the latest
machinery and technologies required in their field. In addition, their in-house
quality control lab is equally sophisticated and loaded with a range of hi-tech
testing equipment. There are also the in-house facilities for tooling,
fabrication and warehousing. A committed and competent team of highly trained
professionals operates these units and all their business operations to give
them an added edge over their competitors in the industry.
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 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] 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.39.67 |
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UK Pound |
1 |
Rs.81.78 |
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Euro |
1 |
Rs.58.46 |
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 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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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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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
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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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