MIRA
INFORM REPORT
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Report Date : |
25.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
SONIA PLAST CRAFT |
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Registered Office : |
A-32, Sector – 83, Phase – 2, Noida – 201305, Uttar Pradesh |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1989 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer of Moulded Components |
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 6000 |
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Status : |
Small Concern |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively small concern having satisfactory track. Proprietor
is reported as experienced and respectable businessman. Trade relations are
reported as fair. Business is active. Payments are however reported as slow
but correct. The concern can be considered for small business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office / Factory: |
A-32, Sector – 83, Phase – 2, Noida – 201305, Uttar Pradesh, India |
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Tel. No.: |
91-120-2461808 / 3047444 |
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Mobile No.: |
91-9810083327 |
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Fax No.: |
91-120-2461808 |
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E-Mail : |
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Area : |
800sq.mtrs |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Paramjit Singh |
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Designation : |
Proprietor |
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Date of Birth/Age : |
42 years |
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Qualification : |
Post Graduate |
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Experience : |
17 years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Moulded Components |
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Products : |
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Terms : |
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Selling : |
L/C, Credit and Cash |
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Purchasing : |
L/C, Cash and Credit (60 days) |
GENERAL
INFORMATION
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Customers : |
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No. of Employees : |
21 (5 Office, 16 Factory) |
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Bankers : |
State Bank of Patiala Kalkaji, New Delhi – 110020 |
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Facilities : |
Rs.1.150 millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Vijay Kapoor and Associates Chartered Accountants |
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Address : |
Dhahdra, Delhi – 110032 |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.1.500 millions |
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Borrowed : |
-- |
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Total : |
Rs.1.500 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 |
7.000 |
6.800 |
6.300 |
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Profit/Loss for the year |
0.250 |
0.209 |
0.180 |
LOCAL AGENCY
FURTHER INFORMATION
Trade References:
Sum Mothersons India Limited
Mac Décor, Delhi
S.1 Precision, Noida
Mec Vanishing
As Per Website
Profile:
Laying the first brick of solid foundation in the year 1992, Subject
started their exciting journey towards success. They initiated with a powerful
will to achieve much wider customer base via exceeding their expectations by
providing elegant and quality products. Their provision of unmatched quality
products signifies the reliability they offer to their innumerable clients
while suiting their requirements. Today, they remain unchallenged in this
industry with their continuous research and development program, total quality
management and prompt customer support. It is their uncompromising endeavor
towards customer care that has entrenched them as one of the most accomplished manufacturers and importers of Auto Parts, Spacers, Gears, Bearings, Covers,
Handles, Vertical Blind Parts, Venetian Blind Parts, Curtain Rod Accessories,
Cooler Submersible Pumps, Tools (Jig and Fixtures), Spares, Accessories and
Gear Assemblies.
Their loyalty in
sync with the technology advancement, reflects their development of customized
products with flawless operations. With facilities tailored for competitive and
flexible manufacturing, they are capable of delivering the best products to
their customers and clients. They equally believe in anticipating the
challenges and future needs in this sector. This happens through incorporating
specialized features in their equipment, which have helped them remain far ahead
of their competitors. They have a wide distribution system of distributors and
suppliers, ensuring prompt delivery of the products.
Their Quality
Quality is their lifeline, and reputation is their base. With high-quality
products, sincere cooperation and efficient professional service, they have
successfully achieved maximum customer satisfaction resulting in worldwide
customer base. Their quality control experts leave no stone unturned in order
to nurture quality at all the business levels. All their manufactured products
pass through several quality control procedures, adhering to international
quality standards. They take special care in the procurement of the raw
material to ensure flawless output. Their research and development department
are engaged in constant search of new and innovative products.
Their Infrastructure
- They possess state of the art
infrastructure coupled with requisite technology
- Their in house manufacturing unit is
the powerhouse of professionalism and assists them in the bulk production
- Their cost down production techniques
and streamlined production process help them to offer products at industry
leading prices
- They are backed by a core team of
thorough professionals, proficient technocrats and dedicated marketing
personnel
- Their spacious warehouse is the
backbone of the company, having capacity to store bulk amount of products.
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.39.49 |
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UK Pound |
1 |
Rs.78.33 |
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Euro |
1 |
Rs.56.78 |
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 |
4 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
4 |
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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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34 |
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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