MIRA
INFORM REPORT
|
Report Date : |
14.12.2007 |
IDENTIFICATION
DETAILS
|
Name : |
GAGANDEEP TRADERS |
|
|
|
|
Registered Office : |
Shakti Market, Near Old Oswai Mills, Back Sode of Kismat Complex, G.T.Road,
Miller Ganj, Ludhiana – 141003, Punjab |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2007 |
|
|
|
|
Date of Incorporation : |
1998 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
JLDG03494B |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAMPR7623Q |
|
|
|
|
Legal Form : |
Sole Proprietory Concern |
|
|
|
|
Line of Business : |
Manufacturer, Exporter and Trader of Bi-Cycle Parts. |
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 10000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well-established and reputed concern. Proprietor is
reported as experienced and respectable businessman. 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 : |
Shakti Market, Near Old Oswai Mills, Back Sode of Kismat Complex,
G.T.Road, Miller Ganj, Ludhiana – 141003, Punjab, India |
|
Tel. No.: |
91-161-2531653 |
|
Mobile No.: |
91-9417696676/9417395990/9417816982/9815138832 |
|
Fax No.: |
91-161-5026638 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
100 sq. ft. |
|
Location : |
Owned |
SOLE PROPRIETOR
|
Name : |
Mr. Baldev Raj |
|
Designation : |
Proprietor |
|
Date of Birth/Age : |
55 years |
|
Qualification : |
Under- Graduate |
|
Experience : |
27 years |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Trader of Bi-Cycle Parts. |
|
|
|
|
Products : |
|
|
Exports : |
|
|
Products : |
Bicycle Parts |
|
Countries : |
|
|
Terms : |
|
|
Selling : |
L/C, Cash and Credit |
|
|
|
|
Purchasing : |
L/C, Cash and Credit (60 days) |
GENERAL
INFORMATION
|
Customers : |
|
|
|
|
|
No. of Employees : |
13 (10 – Factory, 3 – Office) |
|
|
|
|
Bankers : |
ICICI Bank, G.T. Road, Ludhiana |
|
|
|
|
Facilities : |
Limit Rs.0.500 Million |
|
|
|
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Auditors : |
Not Available |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Rs.2.500 Millions |
|
Borrowed : |
- |
|
Total : |
Rs.2.500 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
|
Particulars |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
Sales Turnover |
10.000 |
8.200 |
7.600 |
|
|
|
|
|
|
Profit |
0.398 |
0.285 |
0.250 |
|
|
|
|
|
LOCAL AGENCY
FURTHER INFORMATION
Trade reference:
- Hero Cycle
Limited
- Avon Cycle
Limited, Ludhiana
- Ti Cycle,
Chennai
Website details:
Cycles are an environment friendly way of transportation and their usage should
be highly encouraged. They, subject,
were set up in the year 1976 as a manufacturer and supplier of cycle parts, and
functioned under the name of B.K. Cycle
Industries. In the year 1998, they were christened with their current
name, "Gagandeep Traders". Over the years, theirr concern has
evolved, and so has their product range. They are a well known manufacturer, exporter and supplier of a
gamut of products which includes Bicycle Pumps (all sizes), Bicycle Brake,
Pedal, Air Pump, Frame Pump, Pump Washer, Pump Connection Hub Cup, Brake Lever,
Side Nozzle Wooden Handle Hand Pump, etc. They also manufacture high
quality Football Pumps. All
theirr products are of A-grade quality and are long lasting.
Owing to their dedication and hard work, their have established a strong
foothold in the industry. Providing quality products at competitive prices,
within the stipulated period of time to the customers has helped them carve a
special place for their selves in the heart of their customers. As a result,
they are appreciated not only in the country, but also globally. Their firm
exports to a number of major markets including Africa, Europe and Russia, where
their products are a rage and experience a huge demand. They boast of a large
clientele, which includes some prominent names like Hero, Avon, T.I. Cycles of
India, S.K. Bikes, etc.
Product Range
Subject is a renowned manufacturer, exporter and supplier of
a vast range of bicycle parts. Their list of products includes:
- Bicycle Pumps (All Sizes)
- Bicycle Brake
- Bicycle Saddle
- Pedal
- Air Hand Pump
- Frame Pump
- Pump Washer
- Pump Hub Cup
- Hub Axle
- Hub Cup
- Side Nozzle Wooden Handle Hand Pump
- Brake Lever
- Handle Lever.
They also manufacture high quality Football Pumps.
Quality
Quality is promised to customers, and is never compromised on. Total quality
management techniques are followed at all the levels, right from the stage of
production till the time the goods are ready for dispatch. A team of vigilant
quality inspectors keeps a strict eye on all the processes to make sure that
the manufactured products are without any defects. A-1 quality raw materials
like tubes, sheets and wires are purchased from select vendors, who have a
reputed name in the market. The final goods are put through a series of
grilling tests to determine their performance, durability and longevity.
International quality standards are strictly followed in their organization.
Infrastructure
They, Subject are backed by a strong infrastructural framework, well equipped
with state of the art machinery as well as a dynamic and experienced workforce.
The latest technology machinery helps them to produce world class products at
competitive prices for their valued clients. Regular and timely upgradation of
the machines is undertaken without fail. They employ a hardworking staff of
experienced professionals, which keeps abreast of the latest happenings in
related fields.
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 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.39.37 |
|
UK Pound |
1 |
Rs.80.49 |
|
Euro |
1 |
Rs.57.92 |
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 |
NO |
|
--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 |
|