MIRA
INFORM REPORT
|
Report Date : |
30.07.2007 |
IDENTIFICATION DETAILS
|
Name : |
DARSHAN STEEL WORLD |
|
|
|
|
Registered Office : |
D – 123, Mayapuri Industrial Area, Phase II, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2007 (Estimated) |
|
|
|
|
Date of Incorporation : |
1960 |
|
|
|
|
Legal Form : |
Sole Proprietory Concern |
|
|
|
|
Line of Business : |
Manufacturer and Exporter of hydraulic cylinders/ jack/ pistons, heavy
shafts, ship shafts, dies and moulds and steel rods. |
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 8000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
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. The management of the concern remains non-co-operative despite several
follow-ups. |
LOCATIONS
|
Registered Office : |
D – 123, Mayapuri Industrial Area, Phase II, |
|
Tel. No.: |
91-11-28112825 |
|
Mobile No.: |
91-9212031231, 9810291411 |
|
Fax No.: |
91-11-28112825 |
|
E-Mail : |
|
|
Website : |
SOLE PROPRIETOR
|
Name : |
Mr. Bhupinder Singh |
|
Designation : |
Proprietor / Chief Executive Officer |
|
Qualification : |
Graduate |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of hydraulic cylinders/ jack/ pistons, heavy
shafts, ship shafts, dies and moulds and steel rods. |
|
|
|
|
Products : |
v
Hydraulic Cylinders / Jack / Pistons v
Heavy Shafts v
Forging in all grades and sizes, dies v
Ship Shafts v
Steel Rods for any type of Heavy Industry |
GENERAL INFORMATION
|
Customers : |
|
|
|
|
|
No. of Employees : |
22 |
|
|
|
|
Bankers : |
Not Available |
|
|
|
|
Banking
Relations : |
- |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Rs. 2.000 millions |
|
Borrowed : |
- |
|
Total : |
Rs. 2.000 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
|
Particulars |
|
|
31.03.2007 (Estimated) |
|
Sales Turnover |
|
|
20.000 |
LOCAL AGENCY FURTHER INFORMATION
Web details attached:
The Company is being steered by person having sound
educational Qualification, Knowledge & Experience to function Independently
in varied spheres of their activity we are the leading stockiest and suppliers
and suppliers of prime and used Mild Steel, Carbon Steel, Alloy Steel, Shafts,
Hallow Shafts, Forging and All En Series etc.
Having in House Business and Industry background helps us to tap the potential
with the right contents and proper positioning of the products Vis-a-vis the
competition.
We Serve Following Industries
Hydraulic
Presses Manufacturers
Paper
Mills Machinery Manufacturers
Sugar
Plant Machinery Manufacturers
Rubber-Processing
Machinery Manufacturers
Cement
Plant Machinery Manufacturers
Roll
Manufacturers
Forging
Plant
Plastic
Processing Machine Manufacturers
Die
& Mould Makers
Cranes
Manufacturers
Cable
Machinery Manufacturers
Textile
Machinery Manufacturers
Steel
Plants
And Other Heavy Industries
All Over
Facilities
Company
has Excellent Machining Facilities
Saw
Cutting Capacity Upto 850MM for Shafts Seamless Pipes, Plates & Blocks etc.
Heavy
Duty Lathe Machining for turning of Big Rolls, Hydraulic Cylinders, Rams and
other Precision, Parts
Etc
Boring
Machine Facilities Make WMW. Machine having 50 to 130 MM Spindle Dia.
Material
handling - Overhead Crane Lifting Capacity 30 Ton to 5 Ton.
All Machining Facilities
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 40.54 |
|
|
1 |
Rs. 82.02 |
|
Euro |
1 |
Rs. 55.31 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
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 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--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 |
|