MIRA
INFORM REPORT
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Report Date : |
18.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
GADSEC SOLUTIONS |
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Registered Office : |
C – 1/002,
Printers Apartment, Sector – 13, Rohini, New Delhi – 110085 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1998 |
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Legal Form : |
Partnership
concern with an unlimited liability of the partners |
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Line of Business : |
Manufacturer and
Supplier of Security and Safety Equipments |
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 40000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject shows decline in business. It’s payments are reported as slow.
The concern can be considered for small business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
C – 1/002, Printers
Apartment, Sector – 13, Rohini, New Delhi – 110085 |
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Tel. No.: |
91-11-27043789/27551745 |
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Fax No.: |
91-11-27043789 |
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E-Mail : |
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Website : |
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Location : |
Owned
(Residential) |
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Factory : |
Khasra No. 1147,
Rithala Village, New Delhi – 110085 |
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Tel. No.: |
91-11-27043789 |
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Area : |
2500 sq. ft. [Rented] |
PARTNERS
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Name : |
Mr. Amitabh
Sharma |
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Designation : |
Partner |
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Address : |
C – 1-002,
Printers Apartment, Printed Cooperative Housing Society, Sector – 13, Rohini,
New Delhi – 110085 |
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Date of Birth/Age : |
35 Years |
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Qualification : |
Graduate |
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Experience : |
16 Years |
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Mobile No.: |
91-9811143210/9811017522 |
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Tel. No. |
91-11-27551745 |
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Name : |
Mr. Vinay Sharma |
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Designation : |
Partner |
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Address : |
C – 1-002, Printers
Apartment, Printed Cooperative Housing Society, Sector – 13, Rohini, New
Delhi – 110085 |
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Date of Birth/Age : |
39 Years |
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Qualification : |
Graduate |
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Experience : |
18 Years |
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Tel. No. |
91-11-27551745 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and
Supplier of Security and Safety Equipments |
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Products : |
v
Card Access
Control v
Digital
Video Recorder v
Monitor v
Fire Alarm
Panel v
Automatic
Fire Extinguisher v
Auto Iris
Zoom Lens v
C Mount
Colour Camera v
Control Unit v
Eight Zone
Expandable Alarm v
Passive
Infrared Detector v
Six Zone
Alarm Panel v
Surveillance
Equipment v
Wireless
Security v
Motion
Detectors v
Glass Break
Detectors v
Photoelectric
Sensors v
Fire &
Smoke Detectors v
Passive
Infrared Detector |
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Imports : |
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Countries : |
Korea, Taiwan and
China |
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Terms : |
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Selling : |
Cash Against
Delivery and Credit (60 to 90 days) for Government Agencies |
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Purchasing : |
On Document
against Payment Basis |
GENERAL
INFORMATION
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Customers : |
v
Punjab
National Bank v
State Bank
of Patiala v
Union Bank
of India v
State Bank
of India v
State Bank
of Bikaner & Jaipur v
Bank of
India v
Central Bank
of India v
Allahabad
Bank v
Bank of
Baroda v
Syndicate
Bank v
Punjab &
Sind Bank v
Indian Bank v
Oriental Bank
of Commerce v
Bank of
Maharashtra v
Bank of
Tokyo-Mitsubishi Limited v
Deutsche
Bank v
Kangra
Co-Operative Bank Limited v
Dena Bank v
Central
Industrial Security Force, Ministry of Home Affairs v
Police Head
Quarter, Rajasthan v
National Thermal
Power Corporation (NTPC) v
Hungarian
Embassy v Escorts Limited v
Whirlpool
India Limited v
Exxon Mobil
Company Limited v
Safdarjung
Motors (Hyundai Motors) v
Mothersons
Sumi Infotech Designs Limited v
Reliance
Industries Bhilwara Group v
Department
of Telecommunication v
Defence
Institute of Fire Research v
Asian Paints v
Air Vice
Marshal (Residence) v
Air
Commodore (Residence) v
Quarter
Master General's (Residence) v Vikas Chains & Jewellery Private
Limited (All showrooms in Delhi) v
Goel Sons
Jewellers Private Limited v
Capital
Foods Limited v
Keshav
Sehkari Bank v Whirlpool of India |
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No. of Employees : |
Around 18 |
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Bankers : |
Bank of India,
Ashok Vihar Branch |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Jakad and Associates |
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Address : |
Delhi |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 5.000 Millions |
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Borrowed : |
Rs. 5.000 Millions |
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Total : |
Rs. 10.000 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 |
15.000 |
17.500 |
15.000 |
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Profit/(Loss) Before Tax |
NA |
0.831 |
0.675 |
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Provision for Taxation |
NA |
0.081 |
0.075 |
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Profit/(Loss) After Tax |
NA |
0.750 |
0.600 |
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Import Value |
NA |
6.125 |
4.500 |
Expected Sales (2007-08) : Rs.40.000 Millions
KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
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4.29 |
4.00 |
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Net Profit Margin (PBT/Sales) |
(%) |
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4.75 |
4.50 |
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Return on
Investment (ROI) (PBT/Networth) |
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37.50 |
48.00 |
LOCAL AGENCY
FURTHER INFORMATION
Items
Dealing In
v
Cash Bag Alarm System
v
'BONPET' - Automatic Fire Extinguisher
v
Microprocessor Based/Conventional Security Alarm System
v
Microprocessor Based/Conventional Fire Alarm System
v
Fire Extinguishing Media viz. Sprinklers & Wet
Riser, Extinguishers
v
Central Monitoring Station (CMS)
v
Ultra Violet Lamp for Detection of Forged Documents
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CCTV System/Digital Video Recording System
v
Metal Detectors (HHMD & DFMD)
v Access
Contro System
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
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Indian Rupees |
|
US Dollar |
1 |
Rs.39.57 |
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UK Pound |
1 |
Rs.78.93 |
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Euro |
1 |
Rs.56.85 |
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 |
4 |
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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 |
4 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
4 |
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--CREDIT LINES |
1~10 |
4 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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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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33 |
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 |
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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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