MIRA
INFORM REPORT
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Report Date : |
01.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
PARKSONS INTERNATIONAL |
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Registered Office : |
Great Western Compound, 37, Maharashtra Chamber of Commerce Road, |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Exporters of Workshop, Toolroom, Sheet Metal, Garage
Machinery, Spares for Kirloskar Lathe |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 1200 |
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Status : |
Small Concern |
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Payment Behaviour : |
Slow by average 30 days |
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Litigation : |
Clear |
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Comments : |
Subject is a small trader of machinery and tools. It is not much known to the market. It’s payments are reported as slow
by average 30 days. The concern can be considered for small business dealings on safe and
secured trade terms and conditions, only. |
LOCATIONS
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Registered Office : |
Great Western Compound, 37, Maharashtra Chamber of Commerce Road, |
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Tel. No.: |
91- 22 - 2282 5664 / 22856241 |
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Fax No.: |
91 - 22 – 22851439 |
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E-Mail : |
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Website : |
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Area : |
300 sq. ft. |
SOLE PROPRIETOR
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Name : |
Mr. Bharat Parikh |
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Designation : |
Proprietor |
BUSINESS DETAILS
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Line of Business : |
Exporters of Workshop, Toolroom, Sheet Metal, Garage
Machinery, Spares for Kirloskar Lathe |
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Products : |
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Exports : |
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Products : |
Machinery, Electrical Equipments |
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Countries : |
USA, UK [100 %] |
GENERAL
INFORMATION
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Bankers : |
Dena Bank Sharebazar Branch, Mumbai |
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Banking
Relations : |
-- |
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Associates/Subsidiaries : |
Parksons Engineering Company Mumbai |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 0.300 Million |
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Borrowed : |
-- |
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Total : |
Rs. 0.300 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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2.000 |
LOCAL AGENCY FURTHER
INFORMATION
Trade Reference
- Ordinance
Factory
- Videocon
Group
- BHEL,
Mumbai
As Per Website
Profile
Since its inception in the year 1980, Parksons has ushered
in an era of modernisation in the Machine Tool Industry in India.
In the
past 26 years they have established their name in the International Market as
well as among Indian Giants
Their
commitment to their ideals is reflected in the fact that they were awarded Super Dealers by The Mysore Kirloskar Limited for
excellence achieved in performance.
Their
success today is due to their skilled workforce of well trained staff and their
prompt after-sales service.
Management
Their concern owes its success to the excellent teamwork of
its dedicated workforce working in a professional environment with high
productivity due to innovation. The key motivating factor behind their
efficiency is their immaculate director Mr.
Bharat Parikh.
"A
kind word turneth away wrath" is the motto of the gentleman Mr. Bharat
Parikh. He is a business aficionado with not only human skills but also
administrative skills. He is disciplined , dynamic , dedicated and committed to
group goals and strives to keep his subordinates in good mood and high spirit .
Parksons have been awarded the super dealers
excellence award from Mysore Kirloskar
Limited for the performance during the year 1995-96 for the sale of
their centre lathes .
Here
is Mr. Bharat Parikh ( in the
right ) being honoured by Mr. Vikram
Kirloskar at the Super Dealers Conference.
Here
is a photograph of the Parksons
International Stall at the Machine Tools Exhibition at the Godrej
Grounds.
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] 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.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 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
3 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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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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29 |
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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