MIRA
INFORM REPORT
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Report Date : |
09.02.2007 |
IDENTIFICATION
DETAILS
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Name : |
GAYTRI
INDUSTRIAL CORPORATION |
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Registered Office : |
Unit No. 78, 1st Floor, Raja Industrial Estate, P.K. Road, Mulund
(West), Mumbai - 400 080, Maharashtra, India. |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
1979 |
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Legal Form : |
Partnership
Concern with an Unlimited Liability of the Partners |
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Line of Business : |
Manufacturer
of Industrial Flexible Hose Assemblies and Couplings. |
RATING & COMMENTS
|
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/normal. |
Small |
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Maximum Credit Limit : |
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Status : |
Small
Company |
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Payment Behaviour : |
Slow
but correct |
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Litigation : |
Clear |
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Comments : |
Subject
is a small concern and not much known in it’s business. Trade relations are
reported as fair. Payments are reported as slow but correct. Your
proposed business dealings can be considered against safe and secured trade
terms and conditions. |
LOCATIONS
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Registered Office / Factory: |
Unit No. 78, 1st Floor, Raja Industrial Estate, P.K. Road, Mulund
(West), Mumbai - 400 080, Maharashtra, India. |
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Tel. No.: |
91-22-2560 4816/17, 2569 4055 |
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Mobile No.: |
91-9322332835 |
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Fax No.: |
91-22-2568 0072 / 2568 3917 |
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E-Mail : |
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Website : |
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Area : |
2000
sq. ft. |
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Location : |
Owned |
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USA
Office : |
Gaytri Industrial NA, 5 Gabriels Drive,
Chester, NY 10918 |
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Tel.
No.: |
1 845
494 9835 |
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E-Mail
: |
PARTNERS
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Name : |
Mr.
Nittul Modi |
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Designation : |
Partners |
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Date of Birth/Age : |
29
Years |
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Qualification : |
Diploma
in Engineers |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer
of Industrial Flexible Hose Assemblies and Couplings. |
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Products : |
Polypropylene, Hydraulic,
Rubber Hose, Stainless Steel Hose, Couplings, Bellows, Expansion Joint, and
Pipe Fittings |
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Exports to : |
Middle
East, Europe |
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Terms : |
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Selling : |
Credit
and Advance Payment |
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Purchasing : |
Cash
and Credit |
GENERAL
INFORMATION
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Customers : |
End
Users |
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No. of Employees : |
35 |
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Bankers : |
Canara
Bank, Mulund (West), Mumbai – 400 080, Maharashtra, India |
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Facilities : |
Cash
Credit: Rs. 2.000 Millions |
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Banking Relations : |
Unknown
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CAPITAL STRUCTURE
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Capital
Investment : |
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Owned : |
Rs.
2.000 Millions |
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Borrowed : |
Rs.
2.000 Millions |
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Total : |
Rs.
4.000 Millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
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Particulars |
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31.03.2006 |
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Sales Turnover |
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20.000 |
LOCAL AGENCY
FURTHER INFORMATION
TRADE REFERENCES:
Ø
Lanen
& Toubro Limited
Ø
Reliance
Industries Limited
Ø
IPCL,
Vadodara
AS PER WEBSITE DETAILES:
Subject established in the year 1979 is one of the leading
manufacturer's of all types of Industrial Flexible Hose Assemblies and
couplings standard as well as custom built to suit every variety of application
and requirement.
Gaytri
is approved in all leading consultants such as Bechtel, Engineers India Ltd.,
Toyo, krupp Uhde, Kvaerner Power Gas etc., & inspection agencies like
Lloyds, BVIS, TUV, DNV etc.
"GAYTRI" offers extensive range of various flexible hose assemblies
made of stainless steel (jacketed & non-jacketed), teflon, rubber,
polypropylene and pipe fittings, compression fittings, couplings having an
experience of more than 20 years.
Gaytri
products are manufactured to the highest quality standards & offers
advantages in safety, reliability, economy & simplicity of operation.
Through continued research & development they aim to improve their product,
techniques & services in order to meet the needs of customers more & in
future.
Gaytri
hose assemblies always ensure total product reliability after having various
tests and delivered the material to their client with utmost satisfaction.
Quality Policy:
"To
achieve customer satisfaction by involvement of employees & by using
quality management system which ensures continual improvement in products
quality".
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. 44.06 |
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UK
Pound |
1 |
Rs. 86.34 |
|
Euro |
1 |
Rs. 57.46 |
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 |
4 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
4 |
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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 |
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 |
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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37 |
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/normal. |
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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