MIRA
INFORM REPORT
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Report Date : |
05.07.2007 |
IDENTIFICATION DETAILS
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Name : |
GLOBAL ELECTRICAL INDUSTRIES |
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Registered Office : |
No. 18, 9th A Main, 1st Cross, 1st
Floor, BTM Layout, 1st Stage, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1995 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer and Suppliers of HT / LT Transmission Line Materials, Class
1 Electrical Contractor and Exporters. |
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 18000 |
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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 businessman. 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 : |
No. 18, 9th A Main, 1st Cross, 1st
Floor, BTM Layout, 1st Stage, |
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Tel. No.: |
91-80-41151724 / 22121490 |
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Mobile No.: |
91-9448367827 |
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Fax No.: |
91-80-41224196 / 41151724 |
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E-Mail : |
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Website : |
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Area : |
6000sq.fts |
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Location : |
Owned |
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Factory : |
No. 10 – A / 11 – A, 14th Main, Near |
SOLE PROPRIETOR
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Name : |
Mr. Z. M. Naseer |
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Designation : |
Proprietor |
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Date of Birth/Age : |
36 Years |
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Qualification : |
B.sc. |
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Experience : |
25 Years (from Family Business) |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Suppliers of HT / LT Transmission Line Materials, Class
1 Electrical Contractor and Exporters |
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Products : |
H.T. & L.T. Guy Insulator/Pin Insulator, Shackle
Insulator, Disc Insulator, Post Insulator, reel Insulator, G.I. Wire, Stay Wire,
Strain/Tension Clamps, Suspension Clamp, Vibrator Dampers, Mid-Span
Compression Joint Repair Sleeves, PG Clamps, Tee Clamps, Pad Clamps &
Ground Wire Accessories |
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Exports : |
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Countries : |
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Terms : |
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Selling : |
Terms of Export: Advance Payments and L/C Local |
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Purchasing : |
Credit 15 to 30 days |
GENERAL INFORMATION
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Suppliers : |
S. B. Iron and Steel, Noble Hardwares, |
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Customers : |
Ceebuild Private Limited, Kolkata Chowda Construction Private Limited, |
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No. of Employees : |
30 (25 Technical, 5 Other) |
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Bankers : |
Syndicate Bank City Market, ICICI Bank |
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Facilities : |
Rs.1.500 millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
M/s. Yakub and Company Chartered Accountants |
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Address : |
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Memberships : |
Federation of Chambers and Commerce (KNK) |
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CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.4.500 millions |
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Borrowed : |
- |
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Total : |
Rs.4.500 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
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Particulars |
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31.03.2007 |
31.03.2006 |
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Sales Turnover |
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12.500 |
9.700 |
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Profit/Loss for the year |
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Indicate around 7 to 8% |
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Export Value |
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.2.500 |
2.000 |
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LOCAL AGENCY FURTHER INFORMATION
Average Value of inventories at any given time: Rs.2.700 millions
Website Details
Attached:
Company Details -
Subject is a leading manufacturer, supplier & exporter of electrical items such as High tension/Low
tension Transmission Line Equipment. H.T./L.T. Guy Insulator/Pin Insulator, Shackle
Insulators, Disc Insulators, Post Insulators, Reel Insulators, G.I. Wire, Stay
Wire, Strain/Tension Clamps, Suspension Clamp, Vibrator Dampers, Mid-Span
Compression joint repair sleeves, PG Clamps, Tee Clamps, Pad Clamps and Ground
Wire Accessories form a part of the vast product range.
The company is a
manufacturer, exporter and supplier of the following product range:
Overhead Line Materials-
High Tension.
& Low tension Guy Insulator/Pin Insulator Shackle Insulator, Disc
Insulator, Post Insulator, Reel Insulator, G.I. Wire, Stay Wire, Strain/tension
Clamps, Suspension Clamp, Vibrator Dampers, Mid-Span Compression Joint repair
Sleeves, PG Clamps, Tee Clamps, Pad Clamps and Ground Wire Accessories.
Fabricated Materials-
G.O.s, H.G. Fuses,
D.O.L.O. Cut-outs of different capacities, HT/LT Feeder Pillar Boxes, Tamper
proof box, Lightening Arresters, LT protection Kits, Earthing Pipes, LT
Porcelain fuse cut-outs, T.C. Set, D.P. Set, 4 pin Cross Arms, 2 pin Cross Arms
Special 3 pin Cross Arms, Horizontal Cross Arms, Guyrod, Turn Buckle, RCC, PCC
Pole Clamp, Bolts & Nuts, Washers, G.I. Pins and others.
Safety Materials-
Rubber Mats,
Rubber hand Gloves, Earthing Sticks, Safety Belts, safety Helmets, Insertion
Sheets, Danger Boards, Anticlimbing Device, Bird Protection, Number Plate,
Phase Plate, RYB Plate and others.
Cables &Cable Joint Material-
H.T. & L.T.
Cables, Wires & cable Jointing Pot Head, Bitumen, Eproxy based Cable
Joining Kits, Cold & heat Shrinkable Type Jointing Kits & its
Accessories, Solders, Copper/Aluminium Termals/Lugs, Empire-Cambric and Fibre
Glass Tapes.
Street Light Fittings-
Street Light Poles
HPSV Fittings, Mercury Vapor Fittings, Fluorescent Lamp Fittings, Halogen Lamp
Fittings and Accessories and Cables.
Pulling & Lifting-
Chain Pulley
Block, Wire Rope, Nylon Rope, Polypropylene Rope, Manila Rope, D Shackles,
Cross by Clips, Slings and others.
And, Iron and
Steel-G.I./M.S., G.P.,
Their
Infrastructure
Equipped with an oustanding machinery and a qualified and experience
workforce, they have set high standards in the industry for other players.
Their immaculate infrastructure is a prime reason behind their phenomenal
success in the past. They believe in constant investment in both man and
machine, so as to achieve the desired results. Innovation and improvisation are
the factors that have made a decisive difference in the outcome of the
final product.
Market
They have formed a strong market base in the domestic as
well as international market like Middle-East Asian countries.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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.40.46 |
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1 |
Rs.81.29 |
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Euro |
1 |
Rs.54.96 |
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 |
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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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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