MIRA
INFORM REPORT
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Report Date : |
25.07.2007 |
IDENTIFICATION DETAILS
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Name : |
PANA EXPORTS |
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Registered Office : |
142 1/19, NSEZ, Noida-201301, Uttar Pradesh |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
2003 |
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Legal Form : |
Sole Proprietory Concerrn |
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Line of Business : |
Manufacturers and Exporters of Silencers and Lamination Machines and
Electronic Goods and Devices. |
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 20000 |
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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 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/ Factory : |
142 1/19, NSEZ, Noida-201301, |
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Tel. No.: |
91-129-4109005 |
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Fax No.: |
91-129-4009002 |
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E-Mail : |
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Area : |
1000 Sq.fts. |
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Location : |
Owned |
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Head Office : |
B-1/115, Sector 11, |
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Tel. No.: |
91-129-4109005/ 5009001 |
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Fax No.: |
91-129-4009002/ 5009002 |
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E-Mail : |
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Factory 2 : |
Pirthala, Palwal, District |
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Area : |
3.5 acres |
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Factory 3 : |
Pana Exports, NSEZ(Export
Zone), |
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Tel. No.: |
91-129-5009001 |
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Fax No.: |
91-129-5009002 |
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Branches : |
UK
Office |
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Tel. No.: |
08 70 06 28 754 |
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Fax No.: |
00-44-11-89-662-195 |
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E-Mail : |
SOLE PROPRIETOR
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Name : |
Mr. Anil Aggarwal |
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Designation : |
Proprietor |
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Date of Birth/Age : |
32 years |
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Qualification : |
Graduate |
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Experience : |
10 years |
BUSINESS DETAILS
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Line of Business : |
Manufacturers and Exporters of Silencers and Lamination Machines and
Electronic Goods and Devices. |
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Exports : |
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Products : |
Measuring Instruments |
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Countries : |
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Imports : |
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Products : |
Machinery and Spares |
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Countries : |
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Terms : |
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Selling : |
L/C, Cash, Credit (60 days) and Sight |
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Purchasing : |
L/C, Cash and Credit |
PRODUCTION STATUS
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Particulars |
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Actual
Production |
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100% Export unit of electronic silencers, lamination machines etc |
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As per demand |
GENERAL INFORMATION
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Customers : |
v
Katun Corporation, v
Delta Trade v
Mega Mart Oe Pty. Limited, |
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No. of Employees : |
In Office : 20, In Factory :180 |
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Bankers : |
Oriental Bank of Commerce, Sarai Khwaja, |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Sanjay Garg and Associates Chartered Accountants |
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Address : |
Ashoka Enclave, |
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Associates/Subsidiaries : |
BBM Corporation,
BBM Enterprises Address : B-1/115, Sector 11, Line of business : Electronic Goods Pana Corporation Address : Pirthala, Palwal, District |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.5.000 millions |
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Borrowed : |
-- |
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Total : |
Rs.5.000 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
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Particulars |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
50.000 |
43.700 |
44.600 |
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Profit/Loss for the year |
4.000 |
3.400 |
3.000 |
LOCAL AGENCY FURTHER INFORMATION
Trade References :
Mitubishi And Company, Japan
Website Details :
History
1996 :
Established PANA
Developed and launched SMPS, SSR and
photosensors
1997 : Developed and launched thermistor and its assemblies.
Started exports to
1998 :
Established second plant to
make precise moulds in-house.
1999 : Developed
fuser gears and many precision plastic components.
Entered competitive markets in
2000 : Developed
Rubber Transport belts, Starter switches, Toner motors, Spacer rollers
etc.
2001 : Developed
Exposure cables, Scanner wires.
Market
spreads to 12 countries.
2002 : Developed
Feed tires and Ceramic Heaters.
Participated in overseas exhibition in
2003 : Developed
Rubber rollers, Web rollers, Digital Lamination Machines.
Participated in overseas exhibition in
Market spreads to 32 countries.
2004 : Established
factory in the Special Export Promotion Zone.
Participation in all the major international
exhibitions.
Products under development:
Touch panels, Toner Sensors, Thermal
Printers, Separation Claws etc.
2005 :
Participation in all the
major international exhibitions in Germany USA & Dubai
Products under development:
CD / DVD Laminators, Fuser Sleeves, Touch
Panels, Automobile Sensors
Their Team
Their Team includes
experts from various fields such as mechatronics, computers, instrumentation,
engineers etc. who can handle almost any type of critical development related
to parts of photocopiers, printers, Facsimiles etc. To make both ends needs, a
strong R&D team was formed to achieve ultimate reliability of replacement
parts.
Their Installed Capacity
With over just 8
years in this field, Pana is offering delivery and technical service through
the world. The percentage share of their business is: Indian Market : 80%,
Exports to Singapore, Russia, Malaysia, Dubai, Pakistan, Bangladesh, Hongkong,
Australia, USA, Egypt, UK, Netherland, Germany, Brazil, Canada, Mexico,
Nigeria.. just to name a few.
Set up on a 30,000
square feet of covered area and having workforce of 106 experience team
members, they provide themselves on the ability to design, develop and
manufacture the most sophisticated and critical parts such as:
Photosensors
– 2 million Pcs / annum
Thermistors
– 1 million Pcs / annum
Corona Wires
– 20 million pcs / annum
Magnet rollers
– 100 K pcs / annum
Digital Laminators–
100 K pcs / annum
Drum Cleaning
Blades – 2 Million pcs / annum
Fuser Sleeves
- Under Development
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.40.30 |
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1 |
Rs.82.97 |
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Euro |
1 |
Rs.55.64 |
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 |
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 |
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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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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