MIRA INFORM REPORT

 

 

Report Date :

09.07.2007

 

IDENTIFICATION DETAILS

 

Name :

KIRAN EXPORT

 

 

Registered Office :

D – 41, Industrial Area, Meerut Road, Ghaziabad – 201 002, Uttar Pradesh

 

 

Country :

India

 

 

Financials (as on) :

31.03.2007

 

 

Date of Incorporation :

1978

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

MRTK00732E

 

 

PAN No.:

[Permanent Account No.]

AABFK2162C

 

 

Legal Form :

Partnership concern with an unlimited liability of the partners.

 

 

Line of Business :

Manufacturers and Exporters of door handles in aluminium and others.

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

USD 22000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

Comments :

Subject is a well-established and reputed concern having satisfactory track.  Partners are 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

 

Registered Office / Factory:

D – 41, Industrial Area, Meerut Road, Ghaziabad – 201 002, Uttar Pradesh, India

Tel. No.:

91-120-273292, 2714418

Fax No.:

91-120-3711834

E-Mail :

kiranexport@hotmail.com

Website :

www.kiranexport.org

Area :

2000 Sq. mtrs.

Location :

Owned

 

 

PARTNERS

 

Name :

Mr. Vineet Goel

Designation :

Partner

Mobile No.:

91-9810066893

Date of Birth/Age :

42 years

Qualification :

Graduate

Experience :

20 years

 

 

Name :

Mr. Harbans Goel

Designation :

Partner

Date of Birth/Age :

70 years

Qualification :

Post Graduate

Experience :

50 years

 

 

Name :

Mr. Shobhit Goel

Designation :

Partner

Date of Birth/Age :

39 years

Qualification :

Under Graduate

Experience :

15 years – 18 years

 

 

Name :

Mr. Mohit Goel

Designation :

Partner

Date of Birth/Age :

39 years

Qualification :

Under Graduate

Experience :

15 years – 18 years

 

 

 

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturers and Exporters of door handles in aluminium and others.

 

 

Products :

v      Brass Builders hardware

v      Aluminium hardware

v      Door knobs

v      Door locks, etc

 

 

Exports :

 

Products :

Door Handles

Countries :

Europe, USA, Canada, France, Germany, Ireland, Norway, Finland, Denmark, Sweden

 

 

Terms :

 

Selling :

L/C

 

 

Purchasing :

Cash

 

PRODUCTION STATUS

 

Products

 

 

 

Actual Production

Door handles

 

 

 

As per Demand

 

 

GENERAL INFORMATION

 

Customers :

Wholesaler

 

 

No. of Employees :

+150

 

 

Bankers :

Bank of India

 

 

Facilities :

Subject enjoys overdraft facility.

 

 

 

Banking Relations :

Satisfactory

 

 

Associates/Subsidiaries :

Mascot India Tools Forging Private Limited

Address: Ghaziabad, Uttar Pradesh, India

Line of Business: Manufacturers and Exporters of Hand Tools.

 

 

CAPITAL STRUCTURE

 

Capital Investment :

 

Owned :

Rs. 5.500 millions

Borrowed :

-

Total :

Rs. 5.500 millions

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

Particulars

 

31.03.2007

31.03.2006

31.03.2005

Sales Turnover

30.000

27.900

26.300

 

 

 

 

Profit/Loss for the year

1.950

1.865

1.850

 

Expected Sales (2007-08) : Rs. 65.000 millions

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Website details attached

 

Established in 1978, they are an export-oriented company manufacturing a wide range of household accessories including Brass Builders Hardware, Aluminium Hardware, Door Knobs, Door Locks, etc. To maintain international quality standards, they have their very own research and development center, designing rooms, and latest production facilities, ensuring manufacturing of only those products that meet the strict requirements of the global clientele.

 

Due to their competitive prices, their products have been selling in the European and American markets for many years. Their list of regular buyers includes countries like USA, UK, Canada, France, Germany and Ireland. Their quality-control unit is perhaps the best in the industry, run by a team of highly dedicated and experienced professionals. The team carries out stringent quality checks at every step of production, and does away with any flaws thus detected.



Today, they are committed to manufacture only highest quality products for the global marketplace and also create a safe and comfortable environment for the people worldwide. Their range of products including Brass Builders Hardware, Aluminium Hardware, Door Knobs and Door Locks, are available in Polished Brass (PB), Matt Chrome (MC), Chrome Plated (CP) and Nickel Satin (NS) finish.



They look forward to extend their services to all customers looking for purchasing quality household accessories at competitive prices. Please feel free to contact us for any kind of queries or services required.

 

 

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. 40.41

UK Pound

1

Rs. 81.37

Euro

1

Rs. 55.00

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

7

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

6

--PROFITABILIRY

1~10

4

--LIQUIDITY

1~10

6

--LEVERAGE

1~10

6

--RESERVES

1~10

6

--CREDIT LINES

1~10

5

--MARGINS

-5~5

--

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

NO

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

YES

--AFFILIATION

YES/NO

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

TOTAL

 

50

 

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

 

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

NR

In view of the lack of information, we have no basis upon which to recommend credit dealings

No Rating

 

 

 

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