MIRA
INFORM REPORT
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Report Date : |
26th February, 2007 |
IDENTIFICATION
DETAILS
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Name : |
LAKHANI RUBBER WORKS |
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Registered Office : |
Plot No. 234, 236, 259, Sector 24, Faridabad – 121 005, Haryana, India
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
1966 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
RTKL00910A |
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PAN No.: [Permanent
Account No.] |
AAAFL5164A |
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Legal Form : |
Partnership Concern with an unlimited liability of the partners. |
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Line of Business : |
Manufacturer, Exporter of Automobiles Rubber Parts and Hoses. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 80000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and reputed concern having satisfactory
track. Partners are reported as experienced and respectable businessmen. Trade
relations are fair. Business is active. Payments are usually correct and as
per commitments. The concern can be considered normal for business dealings
at usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
Plot No. 234, 236, 259, Sector 24, Faridabad – 121 005, Haryana, India
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Tel. No.: |
91-129-2233797/ 2230797 |
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Fax No.: |
91-129-2230811 |
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E-Mail : |
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Website : |
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Area : |
13000 sq. ft. |
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Location : |
Owned |
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Factory 1 : |
Plot No. 234, Sector 24, Faridabad – 121 005, Haryana, India |
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Tel. No.: |
91-129-2233797/ 2230797 |
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Fax No.: |
91-129-2230811 |
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E-Mail : |
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Area : |
13000 sq. ft. |
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Location : |
Owned |
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Factory 2 : |
Plot No. 262 P, Sector 24, Faridabad – 121 005, Haryana, India |
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Area : |
72000 sq. ft. |
PARTNERS
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Name : |
Mr. K C Lakhani |
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Designation : |
Partner |
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Address : |
Faridabad, Haryana, India |
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Date of Birth/Age : |
64 Years |
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Qualification : |
Graduates |
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Name : |
Mr. Gunjan Lakhani |
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Designation : |
Partner |
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Address : |
Faridabad, Haryana, India |
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Date of Birth/Age : |
34 Years |
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Qualification : |
Post Graduates and M B A |
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BUSINESS DETAILS
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Line of Business : |
Manufacturer, Exporter of Automobiles Rubber Parts and Hoses. |
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Products : |
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Brand Names : |
Lakhani |
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Exports : |
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Products : |
Automobile Rubber Parts and Hoses |
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Countries : |
USA, Germany, Middle East, Dubai |
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Imports : |
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Products : |
Machinery |
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Countries : |
South Korea, Japan |
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Terms : |
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Selling : |
L/C, Cash and Credit basis |
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Purchasing : |
L/C, Cash and Credit at sight basis |
GENERAL
INFORMATION
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Customers : |
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No. of Employees : |
Around 545 |
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Bankers : |
Bank of India NIT, Faridabad, Haryana, India |
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Facilities : |
The Concern enjoys some facilities of Rs. 105.000 millions from its
banker. |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
J P Jain and Company Chartered Accountants |
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Address : |
Nehru Road, Faridabad, Haryana, India |
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Sister Concerns : |
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CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 20.000 millions |
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Borrowed : |
Nil |
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Total : |
Rs. 20.000 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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Sales Turnover |
300.000 |
289.800 |
285.000 |
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Profit/Loss for the year |
14.500 |
14.200 |
13.900 |
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Export Value |
35% |
30% |
29% |
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Import Value |
10% |
12% |
11% |
Expected Sales (2006-07) : Rs. 320.000 millions
Group Turnover : Rs. 3000.000 millions
KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
31.03.2004 |
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PAT / Total Income |
(%) |
4.83
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4.90 |
4.87 |
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Net Profit Margin (PBT/Sales) |
(%) |
4.83
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4.90 |
4.87 |
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Return on Investment (ROI) (PBT/Networth) |
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0.72
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0.71 |
0.69 |
LOCAL AGENCY
FURTHER INFORMATION
Trade References:
- Maruti Udyog
Limited
- Fiat
- Tata Motors
Limited
As per Web:
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Company Name |
LAKHANI RUBBER WORKS |
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Address |
Plot No. 234, Sector - 24, Faridabad - 121 005, Haryana,
India |
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Phone (Office) |
91- 129-2230797, 2233797 |
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Fax (Office) |
91-129- 2230811 |
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E-mail No. |
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Website |
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Location of Plants |
Faridabad, Haryana, India |
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Chief Executive |
Mr. Gunjan Lakhani, Director |
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Sales Incharge |
Mr. J.S.Rawat, Sr. General Manager - Works |
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Export Incharge |
Mr. J.S.Rawat, Sr. General Manager - Works |
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Products Manufactured |
HOSES: Radiator & Heator Hoses, Air Cleaner Hoses, Vaccum Hoses, Fuel Hoses, Fuel Tank Hoses, Power Steering Hoses, Hose Module System, Breather Hoses etc., Moulded Rubber Components Through Injection, Transfer & Compressor Moulding: Rubber To Metal Bonded Parts, Rubber Boots, Rubber Bellows, O - Rings, CVJ Boots, Misc. Components (Mufflers, Cushions, Plugs, Bump Stopper, Mount Bush, Etc) |
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Trade Mark |
LAKHANI |
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Quality Certification |
ISO 9002 & QS 9000 |
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Principal AutomotiveCustomers |
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Domestic ( OE ) |
Maruti Udyog Limited, General Motors India Limited., Ford India Limited., Fiat India Limited., Honda Siel Cars India (Private) Limited., New Holland Tractors, Escorts Limited (Tractor Division), Escorts Limited (Farmtrac Division) Escorts Const. Equipments Limited, Sona Koyo Steering Systems Limited, GKN Invel Transmissions Limited, Denso Faridabad Limited, Rane (Madras) Limited, LML Limited, Subros Limited, IFB Limited, Samsung India Electronics Limited, Motherson Sumi Systems Limited |
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International ( OE ) |
Trucktec International Limited - Germany; Trucktec
International Limited - Dubai; International Rubber Company - Dubai |
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.44.17 |
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UK Pound |
1 |
Rs.86.69 |
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Euro |
1 |
Rs.58.22 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
7 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
7 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
6 |
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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 |
YES |
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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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52 |
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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PRIVATE & CONFIDENTIAL : This information
is provided to you at your request, you having employed MIPL for such purpose.
You will use the information as aid only in determining the propriety of giving
credit and generally as an aid to your business and for no other purpose. You
will hold the information in strict confidence, and shall not reveal it or make
it known to the subject persons, firms or corporations or to any other. MIPL
does not warrant the correctness of the information as you hold it free of any
liability whatsoever. You will be liable to and indemnify MIPL for any loss,
damage or expense, occasioned by your breach or non observance of any one, or
more of these conditions