MIRA INFORM REPORT
|
Report
Date : |
08.02.2007 |
IDENTIFICATION
DETAILS
|
Name : |
SHANTILAL C MEHTA |
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|
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Registered
Office : |
Sagar
Vihar, 45, Kulpati Munshi Marg, Chowpatty, Mumbai - 400 007, Maharashtra |
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Country
: |
India |
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Financials
(as on) : |
31.03.2006 |
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Date
of Incorporation : |
1947 |
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Legal
Form : |
Partnership
concern with an unlimited liability of the partners |
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|
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Line
of Business : |
Stockist,
Importer and Reseller of Spare parts for Construction, Mining, and
Earthmoving Machinery, Diesel Engines, Hydraulics and Rock Breakers. |
RATING & COMMENTS
|
MIRA’s
Rating : |
Ba |
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered
normal. Capable to meet normal commitments. |
Satisfactory |
|
Maximum
Credit Limit : |
USD 20000 |
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Status
: |
Satisfactory
|
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Payment
Behaviour : |
Usually
Correct |
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Litigation
: |
Clear |
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Comments
: |
Subject is an old established trading concern having
satisfactory track. Trade relations are fair. General financial position is
satisfactory. Payments are usually correct and as per commitments. The concern can be considered normal for business dealings
at usual trade terms and conditions. Sales and capital figures were claimed by the management
but could not be verified as management denied financials and business
details. |
LOCATIONS
|
Registered
Office : |
Sagar
Vihar, 45, Kulpati Munshi Marg, Chowpatty, Mumbai - 400 007, Maharashtra,
INDIA |
|
Tel.
No.: |
91-22-23611109
/ 23610558 / 23632586 |
|
Fax
No.: |
91-22-23631059 |
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E-Mail
: |
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|
Website
: |
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Area : |
5000 Sq. ft |
|
Location : |
Owned |
PARTNERS
|
Name : |
Mr.
Shishir S. Mehta |
|
Designation
: |
Partner |
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Date
of Birth/Age : |
1948 |
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Qualification
: |
41 years |
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Experience
: |
Under
Graduate |
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|
|
|
Name : |
Mr.
Sameer S. Mehta |
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Designation
: |
Partner |
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Date
of Birth/Age : |
1950 |
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Qualification
: |
38 years |
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Experience
: |
Science
Graduate |
|
|
|
|
Name : |
Mr. Suvas
S. Mehta |
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Designation
: |
Partner |
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Date
of Birth/Age : |
1974 |
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Qualification
: |
15 years |
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Experience
: |
Commerce
Graduate |
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|
|
|
Name : |
Mr.
Kaushal S. Mehta |
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Designation
: |
Partner |
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Date
of Birth/Age : |
1979 |
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Qualification
: |
5 year |
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Experience
: |
Commerce
Graduate & Post Graduation in
Management |
BUSINESS DETAILS
|
Line
of Business : |
Stockist,
Importer and Reseller of Spare parts for Construction, Mining, and
Earthmoving Machinery, Diesel Engines, Hydraulics and Rock Breakers. |
|
|
|
|
Products
: |
v
Under
Carriage v
Ground
Engaging Tools v
Hydraulics v
Transmission
Parts v
Engine parts v Rock Breakers |
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Exports
to : |
Far East, Europe and Middle East |
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|
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Imports
from : |
Korea, Japan, Europe, USA and China |
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Terms
: |
|
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Purchasing : |
L/C, D/A and D/P |
GENERAL INFORMATION
|
Customers
: |
Construction Companies, Construction Contractors, Mining Companies,
Road Builders, Cement Companies, Individuals Heavy Equipment and Owners. |
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|
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No. of
Employees : |
20 |
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|
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Bankers
: |
Bank of
Baroda Opera
House, Mumbai – 400004, Maharashtra, India |
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Facilities : |
The concern do not enjoy facility from its banker |
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Banking Relations : |
Satisfactory |
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Associates/Subsidiaries
: |
Nil |
CAPITAL STRUCTURE
|
Capital
Investment : |
|
|
Owned : |
Rs. 5.000 Millions |
|
Borrowed : |
- |
|
Total : |
Rs. 5.000 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
|
Particulars |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
Sales
Turnover |
80.000 |
70.000 |
60.000 |
Expected Turnover for March, 2007
is Rs. 150.000 millions
LOCAL AGENCY FURTHER INFORMATION
It is in
trade terms with the following :
·
Jinsung
T.E.C., Korea
·
Autokuhler
GmbH & Company KG, Germany
·
Larsen
& Toubro Engineering Construction and Contracts Division
·
Gammon
India Limited
·
Hindustan
Copper Limited
·
National
Thermal Power Corporation
·
Jaiprakash
Industries
·
The
Associated Cement Companies Limited
·
Essar
Contraction Limited
·
Reliance
Industries Limited
Business:
The concern
also acts as dealers in parts suitable for Catepillar, Poclain, Hitachi,
Komatsu, Wabco, BEML, Terex, HM, O&K, Demo, NPK, Montabert equipments.
As per Website Details:
They are in the business of providing solutions in
Earthmoving Equipment Maintenance by supplying good quality spare parts that
ensure higher reliability of a customer's equipment. Needless to say, at
competitive prices and accurate deliveries.
Established in 1947 by Mr.Shantilal C. Mehta, the
company is presently run by his two Sons
(Mr. Shishir S. Mehta and Mr. Sameer S Mehta) and two Grandsons (Mr. Suvas S.
Mehta & Mr. Kaushal S. Mehta). Under the guidance and leadership of our
Founder-cum-Chairman, they are all set to achieve ever-new heights of growth
and prosperity.
Import : As part of continuous efforts to
offer increasingly better quality products to customers, they are always on the look out for good reliable
parts/components manufacturers worldwide.
They enjoy the trust and confidence of customers -
ever since 1947. Replacement Parts marketed by them do not have to mean
replacement quality. They try and ensure that every part they sell has been
built to the performance specifications required for the most rugged
applications. They want to ensure that customers get the parts they want, the
performance they need and the value they deserve.
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 |
|
UK Pound |
1 |
Rs.86.00 |
|
Euro |
1 |
Rs.57.56 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP
CAPITAL |
1~10 |
5 |
|
OPERATING
SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS
SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT
LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT
POINTS |
|
|
|
--BANK
CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER
ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT
POINTS |
|
|
|
--SOLE
DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT
ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER
MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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 |
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 |