MIRA
INFORM REPORT
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Report Date : |
05.01.2007 |
IDENTIFICATION
DETAILS
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Name : |
MEGHA
COMMUNICATIONS |
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Registered Office : |
25-B/4,
New Rohtak Road, New Delhi – 110005 |
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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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IEC No.: |
05904035023
dated August 31, 1994 |
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PAN No.: [Permanent
Account No.] |
AAIPB9466H |
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Legal Form : |
Sole
Proprietory Concern. |
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Line of Business : |
Importers
of Security Instruments and Manufacturers of Electronic components and
security products |
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
10000 |
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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.
Proprietor is reported as experienced and respectable businessmen. Trade
relations are reported as 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 / Factory
: |
25-B/4,
New Rohtak Road, New Delhi – 110005, India |
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Tel. No.: |
91-11-28712872
/ 28712873 / 25734666 |
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Mobile No.: |
91-9810314175 |
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Fax No.: |
91-11-28712874
/ 25780514 |
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E-Mail : |
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Website : |
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Area : |
600
sq. ft. approx |
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Location : |
Commercial
– Owned |
SOLE PROPRIETOR
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Name : |
Mr.
Rakesh Kumar Bhardwaj |
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Designation : |
Proprietor
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Address : |
52/22,
Ramjas Road, Karol Bagh, New Delhi – 110005, India |
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Date of Birth/Age : |
46
Years |
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Qualification : |
Post
Graduate |
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Experience : |
25
Years |
BUSINESS DETAILS
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Line of Business : |
Importers
of Security Instruments and Manufacturers of Electronic components and
security products |
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Products : |
CCTV Bugging Device
Access Control System Videophone
Video Door Phone DVR
Video Server Switcher Audio Recorder
Article Survillance Burglar Alarm System
Lens Fire Doors
Panic/ Exit Device Fire Rated Glass |
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Trade Mark : |
Future
Zone |
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Imports from : |
Bugging
Device, Access Control Systems, Fire Doors and other security products from Korea,
China, Hong Kong, Taiwan and Malaysia |
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Terms : |
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Selling : |
On
Cash Against Delivery and Credit 7 days |
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Purchasing : |
30 to
50 % by TT and remaining on DP Basis |
GENERAL
INFORMATION
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Customers : |
Corporates Individuals
Wholesalers
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No. of Employees : |
22 |
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Bankers : |
State
Bank of Bikaner and Jaipur, Karol Bagh, New Delhi – 110005 [Current
A/c No. 3361] |
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Banking Relations : |
Satisfactory
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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 : |
-- |
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Total : |
Rs.
2.000 Millions |
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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2.000 |
1.660 |
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Sales Turnover |
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8.000 |
7.000 |
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Profit Before Tax |
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0.400 |
0.325 |
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Profit After Tax |
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0.340 |
0.275 |
The
Projected Turnover for the financial year ending March 31, 2007 shall be to the
tune of Rs. 12.500 Millions approx as claimed by the subject.
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 but the subject could not substantiate it by providing
audited financial statements like Balance Sheet and Profit and Loss A/c.
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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4.25 |
3.93 |
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Net
Profit Margin (PBT/Sales) |
(%) |
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5.00 |
4.64 |
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Return
on Investment (ROI) (PBT/Networth) |
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17.00 |
16.57 |
LOCAL AGENCY
FURTHER INFORMATION
The
subject being a non-incorporated business entity, is not obliged to register
itself with any authority open to public inspection.
Trade Reference
Subject
is an Authorised Distributor for the following companies
- INOX Malaysia
- Saunkwang Electronics
Company Limited, Korea
Subject
does not exports and supplies in the domestic market.
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.44.30 |
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UK
Pound |
1 |
Rs.85.83 |
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Euro |
1 |
Rs.57.92 |
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 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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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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47 |
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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