MIRA
INFORM REPORT
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Report Date : |
15.02.2007 |
IDENTIFICATION
DETAILS
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Name : |
P K
HIMATSINGKA AND COMPANY |
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Registered Office : |
9, 1st
Floor, Local Shopping Centre, Udai Park, New Delhi – 110049, Delhi |
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Country : |
India |
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Financials (as on) : |
31.03.2003 |
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Date of Incorporation : |
1973 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELP11106E |
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PAN No.: [Permanent
Account No.] |
AAAFP6129M |
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Legal Form : |
Sole proprietory
concern. |
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Line of Business : |
Importer of Marine Equipments, outboard
motors, Stern Drives & spares, Agricultural Commodities and Export of
Caps & Handicraft items |
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/normal. |
Small |
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Maximum Credit Limit : |
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Status : |
Small
concern |
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Payment Behaviour : |
Unknown
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Litigation : |
Clear |
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Comments : |
Management
of the concern remained non-cooperative during current investigation and hence
this report is based on secondary source of information. Subject
appears to be an established concern and engaged in diversified trading
activity. Nothing adverse reported. Trade relations and payments are unknown.
The
concern can be considered normal for business dealings at usual trade terms
and conditions on merits. |
LOCATIONS
|
Registered Office : |
9, 1st
Floor, Local Shopping Centre, Udai Park, New Delhi – 110049, Delhi, India |
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Tel. No.: |
91-11-26961954
/ 26862938 / 26965043 |
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Mobile No.: |
91-9810065649 |
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Fax No.: |
91-11-26862938
/ 26961954 |
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E-Mail : |
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Website : |
http://www.pkhimatsingka.com (under construction) |
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Area : |
1,200
Sq. ft. approx |
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Location : |
Owned
- Commercial |
SOLE PROPRIETOR
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Name : |
Mr. P.
K. Himatsingka |
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Designation : |
Proprietor |
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Address : |
A-95
Malviya Nagar, New Delhi-110 017 Phone:
91-11-26681634 |
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Date of Birth/Age : |
63
Years |
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Qualification : |
Graduate |
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Experience : |
40
Years |
KEY EXECUTIVES
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Name
: |
Mr.
Gopal Bansal |
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Designation
: |
General
Manager |
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Name
: |
Mr.
Rahul Himatsingka |
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Designation
: |
Key
Executive [He is
looking after marketing & exports activities] |
BUSINESS DETAILS
|
Line of Business : |
Importer of Marine Equipments, outboard
motors, Stern Drives & spares, Agricultural Commodities and Export of
Caps & Handicraft items |
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Products : |
·
Marine
Equipments ·
Onan
Gensets ·
Marine
Generators ·
Portable
Generators ·
Pulses
& Legumes ·
Soya
Beans ·
Flour
& Flakes ·
Cereal ·
Flour ·
Soft
Wheat ·
Flour ·
Meal ·
Cereal ·
Rice ·
Readymade
Pulses
and Legumes Soya
Beans Flour
and Flakes, Cereal Four,
Soft Wheat Four,
Durum Wheat Meal,
Cereal Rice,
Processed Rice,
Polished Clothes,
Ready-made, for ladies and girls Dress,
Readymade, for ladies and girls Regional
handicrafts [trade] Electrical
and electronic products for industrial use, Batteries [trade] Electric
generator and generator sets [trade] |
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Imports from : |
Electrical
generator sets, Outboard Motors from USA and Europe & also Agricultural commodities from China and Burma |
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Export to : |
Handicrafts
Items & Caps to Europe |
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Terms : |
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Selling : |
On Documents against Payment & Letter
of Credit basis |
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Purchasing : |
On Documents against Payment, Documents
against Acceptance: 60 to 90 days |
GENERAL
INFORMATION
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Distributor : |
Johnson
& Evinrude Outboard Motors Onan
Generator Sets StenPower:
Stern Drives & its apres |
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No. of Employees : |
12 |
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Bankers : |
The Bank of Rajasthan, New Delhi |
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Banking Relations : |
Satisfactory |
CAPITAL STRUCTURE
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Capital
Investment : |
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Owned : |
Rs.6.000
Million |
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Borrowed : |
-- |
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Total : |
Rs.6.000
Million |
FINANCIAL DATA
[all figures are in Rupees
Millions]
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Particulars |
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31.03.2006 |
31.03.2005 |
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Networth |
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6.000 |
5.400 |
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Sales Turnover |
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150.000 |
130.000 |
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Profit Before Tax |
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0.600 |
0.450 |
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Profit After Tax |
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0.530 |
0.375 |
The
subject is a Non-Incorporated business entity and thus not obliged to file any information
on itself with any Official Authority (Registrar of Company) open for public
inspection. The above-mentioned information is obtained directly from the
subject itself.
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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0.35 |
0.29 |
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Net
Profit Margin (PBT/Sales) |
(%) |
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0.40 |
0.35 |
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Return
on Investment (ROI) (PBT/Networth) |
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8.83 |
6.94 |
LOCAL AGENCY
FURTHER INFORMATION
The subject being a non-incorporated business
entity, is not obliged to register itself with any authorities open to public
inspection.
The subject is manufacturing handicrafts items from
third party as per the requirements & specifications of the customers.
Business dealings are permissible.
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.44.16 |
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UK
Pound |
1 |
Rs.86.00 |
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Euro |
1 |
Rs.57.56 |
SCORE &
RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
4 |
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PAID-UP CAPITAL |
1~10 |
3 |
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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 |
3 |
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--LEVERAGE |
1~10 |
3 |
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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 |
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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28 |
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/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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