MIRA
INFORM REPORT
|
Report Date : |
1st
February, 2007 |
IDENTIFICATION
DETAILS
|
Name : |
C
BHOGILAL WEST END |
|
|
|
|
Registered Office : |
B-1,
Hem Colony, Next to Golden Tobacco, Opp St. Josephs Xavier School, S V Road,
Vile Parle (West), Mumbai – 400 056, Maharashtra, India |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2006 |
|
|
|
|
Date of Incorporation : |
1914 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
MUMC08206C |
|
|
|
|
Legal Form : |
Partnership
Concern with an unlimited liability of the partners. |
|
|
|
|
Line of Business : |
Trader
of Bathrooms and Kitchen Fittings, Tiles, Sanitary Wares, Shower Cubicles,
Bathtubs, Shower Panels. |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD
120000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Usually
Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject
is a well established and reputed concern in its field. Partners are
experienced, respectable and resourceful businessmen. Their trade relations
are fair. Payments are correct and as per commitments. The concern can be considered
good for any normal business dealings. It can be regarded as a promising
business partner in a medium to long-run.
|
LOCATIONS
|
Registered Office : |
B-1,
Hem Colony, Next to Golden Tobacco, Opp St. Josephs Xavier School, S V Road,
Vile Parle (West), Mumbai – 400 056, Maharashtra, India |
|
Tel. No.: |
91-22-26719224/
9225/ 9226/ 4400 |
|
Fax No.: |
91-22-26719200 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
5000
sq. ft. |
|
Location : |
Leased
|
|
|
|
PARTNERS
|
Name : |
Mr.
Shailesh Shah |
|
Designation : |
Partner
|
|
Date of Birth/Age : |
67
Years |
|
Qualification : |
Graduate
|
|
Experience : |
45
Years |
|
|
|
|
Name : |
Mr.
Kekin Shah |
|
Designation : |
Partner
|
BUSINESS DETAILS
|
Line of Business : |
Trader
of Bathrooms and Kitchen Fittings, Tiles, Sanitary Wares, Shower Cubicles,
Bathtubs, Shower Panels. |
|
|
|
|
Products : |
|
|
|
|
|
Imports from : |
Germany,
France, Italy, China |
|
|
|
|
Terms : |
|
|
Selling : |
Cash
and Credit upto 30 days basis |
|
|
|
|
Purchasing : |
L/C,
Cash and Credit basis |
GENERAL
INFORMATION
|
Customers : |
|
|
|
|
|
No. of Employees : |
20 |
|
|
|
|
Bankers : |
Vile Parle (West) Branch, Vile Parle (West), Mumbai 400 056,
Maharashtra, India |
|
Banking Relations : |
Good |
|
|
|
|
Auditors : |
Not
Available |
|
|
|
|
Sister Concerns : |
Giganitic
Trading Company Private Limited, Mumbai, Maharashtra, India --
Line of Business: Trader of Bathrooms and Kitchen Fittings, Tiles, Sanitary
Wares, Shower Cubicles, Bathtubs, Shower
Panels. |
CAPITAL STRUCTURE
|
Capital
Investment : |
|
|
Owned : |
Rs. 30.000
millions |
|
Borrowed : |
Nil |
|
Total : |
Rs.
30.000 millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
|
Particulars |
|
|
31.03.2006 |
|
Sales Turnover |
|
|
150.000 |
|
|
|
|
|
Expected
Sales Turnover for Year March 2007: Rs. 200.000 millions
LOCAL AGENCY
FURTHER INFORMATION
PROFILE
The
company C. BHOGILALl WEST-END (Vile
Parle) was established in 1914. Company is in top of the line
products for bathrooms and kitchen. Our showroom spreads over 5 floors, the
largest in Mumbai.
They have a wide variety of more then 300 designs in tiles and over 20 to 30
range of sanitary ware and bathroom fittings. They have some of the top most
brands of sanitary wares like Villeroy & Boch from
Germany, Jacob Delafon
from France and also well known brands from India. They can provide us with
some of the most elegant looking bathroom fittings of the most well known
brands like Hansgrohe
from Germany, THG
from France, Dorn Bracht
from Germany and also well known brands from India. Also available shower
cubicles, bathtubs and shower panels from Hansgrohe from Germany, Jacuzzi from Italy, Apollo from China, Woven Gold from India,
etc.
From the
house of Impronta
they have marble ceramic tiles, rustic tiles, etc. from Italy. Also tall make
Spanish tiles, glass mosaic chips from Bisazza from Italy, etc.
We also deal in wooden flooring from Quick Step from Belgium.
Also tiles of Boss Profile
from India which provides with vitrified tiles.
They are
glad to introduce you to latest upcoming modular Kitchens from Scavoni from Italy
and Faber from India gas stoves & chimney.
Products
FLOOR AND WALL
TILES
·
Impronta
·
Bisazza
·
Sicis
BATHROOM FITTINGS
·
THG
·
Jaquar
SHOWER CUBICALS
·
Jacuzzi
·
Apollo
WOODEN FLOORING
CUSTOMISED
COLLECTION
Trade
References:
- Villeroy
- Boch
- Jacob delafon
- Hansgrohe
- THG Dorn Bracht
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
|
Indian Rupees |
|
US
Dollar |
1 |
Rs.44.17 |
|
UK
Pound |
1 |
Rs.86.66 |
|
Euro |
1 |
Rs.57.25 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
67 |
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/normal. |
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 |
|