MIRA INFORM REPORT
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Report Date : |
10.01.2007 |
IDENTIFICATION DETAILS
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Name : |
MEGHA
MARKETING |
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Registered Office : |
4th
Floor, ”Megha House”, Mithakali-Law Garden Road, Ellis Bridge, Ahmedabad, 380
006, Gujarat, India |
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Country : |
India
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
1997 |
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Legal Form : |
Sole
Proprietorship concern. |
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Line of Business : |
Importers
of Heavy melting scrap, Re-rollable scrap iron and Steel, used rail scrap,
Teak wood |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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 40000 |
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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 a well-established concern having satisfactory track. Trade relations are
fair. Payments are reported as correct and as per commitments. The
concern can be considered normal for business dealings as usual trade terms
and conditions. |
LOCATIONS
|
Registered Office : |
4th
Floor, ”Megha House”, Mithakali-Law Garden Road, Ellis Bridge, Ahmedabad, 380
006, Gujarat, India |
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Tel. No.: |
91-79-26561712 |
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Mobile no. |
91-9825079939 |
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Fax no. |
91-79-26561714 |
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E-Mail : |
||
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Website : |
http://www.meghagroup.in [Under
Construction] |
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Area : |
1800.Sq.ft. |
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Location : |
Owned |
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Administrative Office : |
4th
Floor, ”Megha House”, Mithakali-Law Garden Road, Ellis bridge, Ahmedabad, 380
006, Gujarat, India |
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Tel. No.: |
91-79-26561712 |
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Mobile no: |
91-9825079939 |
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Fax no. |
91-79-26561714 |
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E-Mail : |
||
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Area : |
Apx.1800.Sq.ft. |
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Location : |
Owned |
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PROPRIETOR
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Name : |
Mr.
Kanaiyalal Atmaram Pagrani |
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Designation : |
Proprietor |
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Mobile no.: |
91-9825079939 |
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Date of Birth/Age : |
48
Years |
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Qualification : |
Graduate
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Experience : |
30
Years |
BUSINESS DETAILS
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Line of Business : |
Import
of Heavy melting scrap, Re-rollable scrap iron and Steel, used rail scrap,
Teak wood |
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Imports from : |
Latin
American countries, Peak, Panama, Equador and Costa Rica |
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Terms : |
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Selling : |
Cash |
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Purchasing : |
L/C.,
D/A, Credit (60 Days) |
GENERAL INFORMATION
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No. of Employees : |
10 |
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Bankers : |
Kotak
Mahindra Bank Mithakali,
Law Garden Road Branch, Ahmedabad UTI
Bank Law
Garden Road Branch, Ahmedabad |
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Facilities : |
-- |
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Banking Relations: |
-- |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.
10.000 Millions |
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Borrowed : |
-- |
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Total : |
Rs.
10.000 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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120.000 |
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Export Value |
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30.000 |
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Import Value |
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50.000 |
Expected Sales for March 2007 Rs. 150 Millions
LOCAL AGENCY FURTHER INFORMATION
Subject
is Importers of Metal scrap and Teak wood mainly from Latin American countries
i.e. Panama, Equador and Costa Rica also diverted activity to property and estate
developers.
Subject
is expected to have a growth of 15%.
Average
stock maintained: Rs: 10 Millions Per month.
Subject
buys and sales scrap metals, and also authorized to export or import product
overseas through shipping.
Subject
have Import export license, however, interested mainly in Iron Metal like iron
Pipes, Rail Tracks and Heavy Ironed.
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. 44.47 |
|
UK
Pound |
1 |
Rs. 86.40 |
|
Euro |
1 |
Rs. 57.99 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
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 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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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 |
|
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 |