MIRA
INFORM REPORT
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Report Date : |
11.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
HIRAL
INTERNATIONAL |
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Registered Office : |
A-1, Matru
Ashish, Above Bank of Baroda, S.V. Road, Kandivali (West), Mumbai-400067,
Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
2000 |
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Legal Form : |
Sole Proprietory
Concern |
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Line of Business : |
Trader of
Laboratory Instruments sold under ‘Hiral’ brand |
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 22000 |
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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. Trade relations are fair. Payments are usually correct and as per
commitments. The concern can be considered normal for business dealings at usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
A-1, Matru Ashish,
Above Bank of Baroda, S.V. Road, Kandivali (West), Mumbai-400067,
Maharashtra, India |
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Tel. No.: |
91-22-28061751/
22013497/ 22060015 |
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Mobile No.: |
91-9892331777 |
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Fax No.: |
91-22-28063902 |
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E-Mail : |
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Website : |
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Area : |
400 Sq.ft. |
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Location : |
Owned (by Paresh
Mehta) |
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Factory 1 : |
B-1, Om Shiv
Kripa, Opposite Laxmi Narayan Temple, Laxmi Narayan Lane, Kandivali (West),
Mumbai-400067, Maharashtra, India |
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Tel. No.: |
91-22-28061751/
22013497/ 22060015 |
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TeleFax No.: |
91-22-28063902 |
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Mobile No.: |
91-9892331777 |
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E-Mail : |
SOLE PROPRIETOR
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Name : |
Mr. Pareshh H.
Mehta |
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Designation : |
Proprietor |
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Date of Birth/Age : |
47 years |
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Qualification : |
Undergraduate |
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Experience : |
25 years |
KEY EXECUTIVES
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Name : |
Mr. Bharat Patel |
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Designation : |
Manager |
BUSINESS DETAILS
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Line of Business : |
Trader of Laboratory
Instruments sold under ‘Hiral’ brand |
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Products : |
Ř
Filter Paper Ř
Hiral Silica Ř
Hiral
Thermometers Ř
Hiral
Hydrometers |
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Brand Names : |
Hiral |
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Exports to : |
Africa and Sri
Lanka |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit
(30 days) |
GENERAL
INFORMATION
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Customers : |
Wholesalers and
Retailers |
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No. of Employees : |
15 |
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Bankers : |
Bank of Baroda, S.V.
Road, Kandivali (West), Mumbai-400067 |
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Banking Relations : |
Satisfactory |
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Associates/Subsidiaries : |
Disha Instruments
Company Address : 2nd
Floor, 25, Ashish Building, 40, Babu Genu Road, Mumbai-400002 Tel. No.: 91-22-22013497/
22060015 Tele/Fax :
91-22-28063902/ 28061751 E-Mail : phm26@vsnl.net Line of Business
: Traders of Laboratory Instruments |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 5.500 Millions |
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Borrowed : |
-- |
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Total : |
Rs. 5.500 Millions |
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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30.000 |
Expected Sales (2007-08) : Rs. 40.000 Millions
LOCAL AGENCY
FURTHER INFORMATION
The concern gets
manufactured goods from outside agencies on job work.
Trade References :
Ř
Jambu Prasad
& Sons, Ambala, Haryana
Ř
Shiv Dayal
& Sons, Ambala, Haryana
Website Details :
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Product |
Use |
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Skies Hydrometer All
Range |
For wine testing |
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Alcoholmeter |
For wine testing |
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Twaddle Hydrometer |
For cloth &
fertilizer testing |
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Baum And Brix
Hydrometer |
For Sugar mill |
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Barkometer |
For lather testing |
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Salinometer |
For wodden testing |
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Soil Hydrometer |
For soil testing |
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Density Hydrometer |
For Petrol, Diesel,
Kerosine & Oil testing |
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SP. GR. HYDROMETER |
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Range of 50 |
For analytical Laboratory |
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Range of 100 |
For heavy chemical plant |
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Range of 200 |
For general purpose |
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LACTOMETER |
For milk testing |
AS PER WEBSITE
DETAILS:
Profile
Scientific
products find wide application in varied industries including
alcoholic-beverage, chemical, sugar and other sectors. These scientific-testing-products
occupy paramount importance, as on the basis of their reading, a manufacturing
unit can mix the exact proportion of chemicals required for production. Subject
is a renowned manufacturer, exporter and importer of scientific
goods such as thermometer, filter paper, silica ware, nickel ware, hydrometer,
lab accessories and many other items.
Their
facility is a perfect example of amalgam of human imagination and modern
scientific techniques. Highly competent workforce and ultra modern machinery
are successfully sailing their ship in the tsunami of globalization and
cut-throat competition. The impeccable qualities, world class quality control
measures, unmatched prices and unbeatable scientific solutions has helped them
find a substantial client base at every part of the globe.
Product Range
Hiral
International offers a plethora of scientific solutions like:
- Filter Papers
- Thermometers
- Silica Ware
- Nickel Ware
- Hydrometer
- Lab Glassware
- Other
Scientific Instruments.
Application of the Products
The
entity is offering a complete range of products for various chemical industries
like all range of alchohalmeter & skies meter for wine testing, twaddle
hydrometer for cloth & fertilizer testing, baum & brix for sugar mills,
barometer for leather testing, density hydrometer for petrol, diesel and oil
testing and many other items.
Quality Assurance
Every
product is able to quench the desirable thirst of the clients by giving them a
peg of superb performance. The organization follows stringent quality control
measures at every production level to deliver an excellent range of products.
The facility comprises of state-of-the-art machinery and highly competent
workforce that works round the clock to provide at par with the best products.
Every product passes through the severe inspection of experts before its
shipment to the client.
Their Assets
- State-of-the-art machinery
- Highly competent workforce
- Well equipped quality control
department
- Wide range of unmatched products
- Superior quality of packing
- Wide distribution network
- Timely delivery
- Fair and transparent trade practices.
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
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs. 39.38 |
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UK Pound |
1 |
Rs. 80.07 |
|
Euro |
1 |
Rs. 57.66 |
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. |
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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