MIRA
INFORM REPORT
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Report Date : |
21.07.2007 |
IDENTIFICATION DETAILS
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Name : |
GLOBE |
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Registered Office : |
D - 63 A, Dayanand Block, Shakarpur Extn. |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1990 |
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Legal Form : |
Partnership concern with an unlimited liability of the partners |
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Line of Business : |
Manufacturer and Exporter of Laboratory Testing Instrument and Fabric
Testing Instrument |
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 14000 |
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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. 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
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Registered Office : |
D - 63 A, Dayanand Block, Shakarpur Extn. |
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Tel. No.: |
91-11-42445042 / 22441583 |
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Mobile No.: |
91-9818755522/9310755522 |
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Fax No.: |
91-11-22441583 |
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E-Mail : |
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Website : |
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Area : |
90 Sq. Mtrs. |
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Location : |
Owned |
PARTNERS
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Name : |
Mr. R P Rawal |
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Designation : |
Partner |
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Date of Birth/Age : |
40 Years |
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Qualification : |
MBA |
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Experience : |
17 Years |
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Name : |
Mrs. Rohita Rawal |
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Designation : |
Partner |
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Date of Birth/Age : |
36 Years |
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Qualification : |
Graduate |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Laboratory Testing Instrument and Fabric
Testing Instrument |
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Products : |
v
Crock
meter - Motorised v
Round
Cutter for GSM v
Beasley
Balance v
Color
Matching Cabinet v
H.T.H.P
Beaker Dyeing v
Perspiro
Meter Tester v
Wrap
Reel v
Digital
Hot Air Oven v
Digital
Tensile Strength Tester v
Washing
Fastness Tester v
Crease
Recovery Test v
Twist
Tester v
v
Infra-red
Ray Beaker Dyeing v
Digital
Shade card v
Winding
Bursting Strength Tester v
Bundasman
Tester v
Flexo
Meter v
Conditioning
Chamber v
Spray
Tester v
Muffle
Furnace v
Atmospheric
Beaker Dying |
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Exports : |
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Countries : |
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Terms : |
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Selling : |
Advance, Cash or Credit |
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Purchasing : |
Cash or Credit |
PRODUCTION STATUS
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Particulars |
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Actual
Production |
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Laboratory Testing Instrument and Fabric Testing Instrument |
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35% |
GENERAL INFORMATION
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Suppliers : |
Purchase Raw Material from open market
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Customers : |
v
Reliable Yarn – v
Dhan Laxmi Synthatics Limited v
MTL India Limited – Noida v
Saru Spinning Mills Limited v
Mahveer Spinning Mills Limited |
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No. of Employees : |
22 |
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Bankers : |
Punjab National Bank, Madhuban, Shakurpur, |
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Facilities : |
On Over Draft |
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Banking
Relations : |
Satisfactory |
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Associates/Subsidiaries : |
Sales Turnover – 2.000 Millions New Company |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 3.500 Millions |
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Borrowed : |
-- |
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Total : |
Rs. 3.500 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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20.000 |
18.000 |
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Profit/Loss for the year |
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13/14% |
13/14% |
Expected Sales (2007-08) : Rs. 30.000 Millions for both the companies
LOCAL AGENCY FURTHER INFORMATION
As per website details
Globe-Tex Industries is a professionally managed organization, offering products, technology and services with the intention of providing total customer solutions to achieve ultimate customers delight (a step ahead of customer satisfaction.) The promoters have rich experience in the field of textile industry (Fiber to finish)over a period of last one and half decade the company has serviced the industry by providing state of the art international quality testing equipments.
Due to their international exposure, they have incorporated the latest technology and management tools while keeping in mind the requirement of the Indian textile Industry, which is being transformed, to global textile industry.
The company provides the most advance engineering technology combined with an unrivalled level of design and technical experience. This ensures the clearest understanding of individual customer's specific requirements and the expertise to meet the ever-changing needs of textile testing area.
Experienced technicians carry out on site fitting and servicing of various equipments manufactured by us to ensure maximum precision and efficiency with minimum downtime. The company can also provide annual maintenance of various textile testing equipments with performance guaraantee.
Their Products
Their strength lies in combining innovative technology with a thorough
manufacturing experience to create quality equipment and products for their
customers. Their cutting edge technology has geared us up to face the global
challenges and has also helped us to fulfill the specific requirements of the
customers
Their Quality
Their premium quality products and services has helped us to set exemplary
benchmarks in the challenging global market. Their uncompromising endeavor
towards quality has established us as the most ideal manufacturer and exporter
of Laboratory Testing Instruments and Fabric
Testing Instruments in
Their Infrastructure
Their profound infrastructure is a powerhouse of professionalism and cutting
edge technology. They possess state-of-the-art-manufacturing unit and hi-tech
machines which yield excellent results at low maintenance and cost. Their
spacious and modern warehouse has a capability to execute and store large
amount of products in order to meet the ever changing market requirements.
Their team of Research and Development helps us to remain updated of changing
trends in technology.
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.40.33 |
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1 |
Rs.82.63 |
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Euro |
1 |
Rs.55.65 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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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 |
6 |
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--LEVERAGE |
1~10 |
6 |
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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 |
YES |
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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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48 |
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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