MIRA
INFORM REPORT
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Report Date : |
22nd
January, 2007 |
IDENTIFICATION
DETAILS
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Name : |
S G
TRADERS |
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Registered Office : |
P-23/24, Radha Bazar
Street, Kolkata – 700 001, West Bengal, India |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
1960 |
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IEC No.: |
0291003273 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CALS00740F |
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Legal Form : |
Partnership Concern with an unlimited
liability of the partners. |
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Line of Business : |
Exporters, Importers and Distributors of
Sheet, Float, Figured, Wired, Mirrored, Laminated and Toughened Glass, Double
Glazin Glass, Reflective Glass Decorative Glass, Table Tops and Glass
Columns, Glass Bricks Float, Insulating Glass, Patch Fittings and High
Performance Glass. |
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
50000 |
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Status : |
Satisfactory
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Payment Behaviour : |
Slow
but 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 slow but correct. The concern is doing steady
business. It can be considered normal for business dealings at usual trade
terms and conditions. |
LOCATIONS
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Registered Office : |
P-23/24, Radha Bazar
Street, Kolkata – 700 001, West Bengal, India |
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Tel. No.: |
91-33-22434163/22424551/22429515/ |
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Mobile No.: |
91-9831078484 |
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Fax No.: |
91-33-22429216 |
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E-Mail : |
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Website : |
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Area : |
500
sq. ft. |
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Location : |
Rented
(Commercial Area) |
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Head
Office : |
P-23/24, Radha Bazar
Street, Kolkata – 700 001, West Bengal, India |
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Tel.
No.: |
91-33-22434163/22424551/22429515/ |
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Fax
No.: |
91-33-22429216 |
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E-Mail
: |
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Area : |
500
sq. ft. |
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Location : |
Rented
(Commercial Area) |
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Warehouse
: |
50, Debendra Chandra Dey Road, Kolkata –
700 015, West Bengal, India |
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Area : |
15000 sq. ft. |
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Location : |
Rented
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PARTNERS
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Name : |
Mr. Magni Ram Saraf |
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Designation : |
Managing Partner |
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Address : |
P-23/24, Radha Bazar Street, Kolkata – 700 001, West Bengal, India |
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Date of Birth/Age : |
66 years |
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Qualification : |
B. Com. |
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Experience : |
45 Years |
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Other Directorship : |
Saraf Glass Private Limited |
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Name : |
Mr. Sanjay Kumar Saraf |
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Designation : |
Partner |
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Address : |
17/2, Burdwan Road (Alipore), Kolkata – 700 027, West Bengal |
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Date of Birth/Age : |
42 Years |
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Qualification : |
B. Com. |
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Experience : |
24
Years |
BUSINESS DETAILS
|
Line of Business : |
Exporters, Importers and Distributors of
Sheet, Float, Figured, Wired, Mirrored, Laminated and Toughened Glass, Double
Glazin Glass, Reflective Glass Decorative Glass, Table Tops and Glass
Columns, Glass Bricks Float, Insulating Glass, Patch Fittings and High
Performance Glass. |
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Products : |
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Brand Names : |
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Agencies Held : |
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Imports from : |
Germany, China, Indonesia, Taiwan,
Belgium, Japan and Netherlands. |
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Terms : |
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Selling : |
Credit (30 days) or Cash terms. |
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Purchasing : |
Contract, Credit (30 days) and L/C (30-60
days) terms. |
GENERAL
INFORMATION
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Suppliers : |
Some of it’s major suppliers are :-
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Customers : |
Some of it’s major customers are :-
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No. of Employees : |
About
10 |
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Bankers : |
Punjab National Bank 5, Dr. Rajendra Prasad Sarani (Formerly Clive Row), Kolkata – 700 001, West Bengal, India |
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Banking Relations : |
Satisfactory
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Auditors : |
S. N. Chaubey and Company Chartered Accountants |
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Address : |
29, Balaram Dey Street, Kolkata – 700 006, West Bengal, India |
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Sister Concerns : |
Saraf Glass Private Limited P-23/24, Radha Bazar Street, Kolkata – 700 001, West Bengal -- Line of Business – It undertakes decoration of Hotels, etc. with Glass Bricks, Double Glazing Glass, Reflective Glass, Decorative Glass, Laminated Glass on turnkey contract basis. It has a technical tie up with Peter Lisec GmbH, Austria. |
CAPITAL STRUCTURE
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Capital
Investment : |
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Owned : |
Rs.
12.500 millions |
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Borrowed : |
Nil |
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Total : |
Rs.
12.500 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 |
30.000 |
29.000 |
29.000 |
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Profit/Loss for the year |
NA |
NA |
3.400 |
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Projected Turnover for Current Year (2006-07) Rs. 31.000 millions
LOCAL AGENCY
FURTHER INFORMATION
History
Subject was established in the year 1960 at Kolkata in West Bengal as a Partnership concern.
Subject was promoted by Late Mr. Bisan Lal
Saraf as a proprietary concern in the year 1936 in some other style and
subsequently takeover by his son Mr. Mogni Ram Saraf and his grand son Mr.
Sanjay Kumar Saraf in the year 1960.
Business
Subject is engaged in as exporters, importers and traders of Sheet, Float, Figured, Wired, Mirrored, Laminated and Toughened Glass, Double Glazin Glass, Reflective Glass Decorative Glass, Table Tops and Glass Columns, Glass Bricks Float, Insulating Glass, Patch Fittings and High Performance Glass.
It purchases from Local market 40% and 60% from International Market.
It sells in local market 100%.
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.44.21 |
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UK
Pound |
1 |
Rs.87.48 |
|
Euro |
1 |
Rs.57.23 |
SCORE &
RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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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 |
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 |
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 |
YES |
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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 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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