MIRA
INFORM REPORT
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Report Date : |
15.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
LEXUS SOFTMAC |
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Registered Office : |
A1-A4, R. S. No. 59, Bamroli Road, Near Sosyo Circle, Off. Udhna Magdalla Road, Surat – 395017, Gujarat |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
28.03.2000 |
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Com. Reg. No.: |
G47/SRT/27/940 dtd. 27.12.1999 |
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IEC No.: |
3700000057 |
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Legal Form : |
Partnership concern with an unlimited liability of the partners |
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Line of Business : |
Manufacturer and Exporter of Dimond Machines. |
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 80000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established concern having satisfactory track. Partners are highly qualified, experienced, respectable and having satisfactory means of their own. Their trade relations are fair. Payments are correct and as per commitments. The concern can be considered good for normal business dealings at usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
A1-A4, R. S. No. 59, Bamroli Road, Near Sosyo Circle, Off. Udhna Magdalla Road, Surat – 395017, Gujarat |
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Tel. No.: |
91-261-2631942/2238586 |
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Fax No.: |
91-261-2631950 |
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Mobile No.: |
91-9879500008/9879000062/9825385709 |
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E-Mail : |
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Website : |
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Area : |
16000 sq. fts. (Owned) |
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Corporate Office : |
1, Ram Ashish, Kadampalli, Near Suflam Soceity, Kadampalli, Timaliawad, Surat- 395001 |
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Tel. No.: |
91-261-2238586 |
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Fax No.: |
91-261-2236232 |
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Surat Service Center: |
39, Ambica Industries, Co-op. Socierty -2, Opp. Meghna Complex, Udhna Magdalla
Road, Surat – 3950017, Guharat, India |
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Tel No.: |
91-261-2238586 |
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Mumabi Office/Services Center: |
"C" wing 305 Kohinoor complex, next to Gulpham Hotel,
W.E.Highway, Dahisar (E), Mumabi – 400068, India |
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Tel No.: |
91-22-28488158/28910332 |
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Email: |
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Address: |
112 Canterbury Road, Canterbury Vic - 3126, Australia |
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Tel No.: |
91-61-3-9830-5600 |
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Fax No.: |
91-61-3-9836-3802 |
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Email: |
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Website |
PARTNERS
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Name : |
Mr. Utpal A. Mistry |
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Designation : |
Partner (C.E.O) |
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Address : |
31,32,33,34, Ganesh Park Co-Op. Housing Soc., Adajan Road, Surat,
Gujarat |
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Date of Birth/Age : |
38 years |
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Qualification : |
BE- Electronics |
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Experience : |
16 years |
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Date of Joining: |
28.03.2000 |
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Tel No.: |
91-9879000062 |
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Email: |
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Name : |
Mr. Kamal A. Mistry |
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Designation : |
Partner, Tech L.Q.C. |
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Address : |
17,18,19,20, Ganesh Park Co-Op. Housing Soc., Adajan Road, Surat,
Gujarat |
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Date of Birth/Age : |
34 years |
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Experience : |
14 years |
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Date of Joining: |
28.03.2000 |
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Tel No.: |
91-9825385709 |
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Email: |
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Name : |
Ms. Anita J. Mistry |
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Designation : |
Partner |
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Address : |
31,32,33,34, Ganesh Park Co-Op. Housing Soc., Adajan Road, Surat,
Gujarat |
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Date of Birth/Age : |
37 years |
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Experience : |
12 years |
KEY EXECUTIVES
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Name : |
Shri Janak A. Mistry |
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Designation : |
MR (Sales/ Marketing/ Admin) |
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Address : |
1-2, Ganesh Park Soc, Nr. Lalji Nager, Adajan Road |
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Qualification : |
B.E. (Mechanical) Gold Medalist |
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Tel No.: |
91-9879500008 |
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Date of Joining : |
01.04.2005 |
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Email: |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Dimond Machines. |
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Products : |
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Brand Names : |
Lexus Softmac |
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Agencies Held : |
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Exports : |
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Countries : |
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Imports : |
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Countries : |
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Terms : |
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Selling : |
Cash/Credit (30 days) |
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Purchasing : |
Cash |
PRODUCTION STATUS
Installed Capacity :
1,800 units
Actual Production :
950 units
GENERAL
INFORMATION
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Customers : |
End Users |
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No. of Employees : |
50 |
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Bankers : |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Suresh Surana and Associates Chartered Accountants |
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Address : |
7th Floor, Belgium Tower, Surat |
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Associates/Subsidiaries : |
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Address: |
Lexus Machine, 76,77 Ambica Ind. Co. Op. Soc-2, udhna Magdalla Road, Surat Est. 1995 |
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Activity: |
Machine Manufacturing |
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Address: |
Lexus Software Services, 180, 181, Ambica Ind. Co. Op. Soc-2, udhna Magdalla Road, Surat Est. 1997 |
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Activity: |
Trading and Services |
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Address: |
LSS (STPi) – 100% EOU, 39, Ambica Ind. Co. Op. Soc-2, udhna Magdalla Road, Surat |
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Activity: |
Software Development and Exports |
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Address: |
D. K. Engineers, 27, Navrang Ind. Soc., Sangrampura, Surat, Est. 1996 |
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Activity: |
Machine Manufacturing |
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Address: |
Dzee Tech, 25, Navrang Ind. Soc., Sangrampura, Surat |
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Activity: |
Manufacturing |
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Address: |
Sun Computer Cons., 39, Ground Floor, Ambica Ind. Co.Op.Sco-2., U. M. Road, Surat Est. 1996 |
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Activity: |
Manufacturing |
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Address: |
Mistry Engineering Works, 2/4646, Sagrampura, Surat Est. 1946 |
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Activity: |
Manufacturing |
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Address: |
Aarson Engineers, 76/77-Ambica Indl. Co.op.Soc. 2, Udhna-Kmagdhalla Road, Surat |
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Activity: |
Manufacturer and Engineers, Specialists in Planning and
Planomilling Jobs |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.20.000 Millions |
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Borrowed : |
- |
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Total : |
Rs.20.000 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
100.000 |
85.000 |
71.328 |
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Profit/Loss for the year |
N.A. |
N.A. |
19.542 |
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Export Value |
N.A. |
N.A. |
60.459 |
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Import Value |
N.A. |
N.A. |
7.961 |
Expected Sales (2007-08) : Rs.160.000 Millions
LOCAL AGENCY
FURTHER INFORMATION
Website details:
Subject is a 100% Export Oriented Unit.
Subject exports diamond processing equipments and software.
It imports camera, lenses, pumps and electronic components.
Subject is in trade terms with the following:
- Venus Jewel, Venus Estate, Laldarwaja, Sumul Dairy Road, Surat
Contact Person: Mr. Hitesh Shah
- Karp Impex Limited, Karp House, Laldarwaja, Surat
Contact Person: Mr. Kishore Virani
- K. Girdharlal, K.G. House, Umiya Mata Chowk, A. K. Road, Surat
Contact Person : Mr. Parag Shah
Subject is authorized distributor for:
- Octo Nuts Limited, Russia
- HRD Equipment, Belgium
- Ideal-Scope.com, Australia
- Rico Tools NV, Belgium
- BLS Laser SA, Belgium
LEXUS GROUP:
Parent Company Nanabhai Hargovandas Iron Work Est. in 1946.
Group Turnover: Rs. 200.000 millions
Group Assets: Rs. 150.000 to 180.000 millions
Group Employees: 200 people
Global Partners :
Octonus Software
Limited
Office 103, Building 3A, 2/4 Luzhnetskaya Naberezhhay, Moscow – 119270,
Russia
91-7-495-939-5906/545-5719
7-495-932-8815
Garry Holloway
Fine Jewellwry
112 Canterbury Road, Canterbury Vic - 3126, Australia
91-61-3-9830-5600
91-61-3-9836-3802
Factory :
Comdiam Cvba Attn. Mr. Marc Thomassen, Plaslaar 50, 2500 Lier, Belgium
91-32-3-488-06-12
91-32-3-488-06-11
Grensstraat 11, Industries Area, Klein Gent, 2270 Herent, Belgium
91-32-14211868
91-32-14212684
Shop
Antwerp
Comdiam Cvba, Antwerp Sales Office, Attn. Ms. Antje Camps,
Hoveniersstraat 22, 2018 Antwerp, Belgium
91-32-3-222-25-55
91-32-3-222-05-59
Vestingsstraat 66 (Near Diamond Bank), 2018 Antwerp, Belgium
91-32-3-233-35-58
91-32-3-233-35-58
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.39.35 |
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UK Pound |
1 |
Rs.80.36 |
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Euro |
1 |
Rs.57.62 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
6 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
6 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
6 |
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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 |
YES |
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--AFFILIATION |
YES/NO |
YES |
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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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54 |
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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