MIRA
INFORM REPORT
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Report Date : |
29.05.2007 |
IDENTIFICATION DETAILS
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Name : |
K V INTERNATIONAL |
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Registered Office : |
B-3, 505 Navjivan Society, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1958 |
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Legal Form : |
Partnership concern with an unlimited liability of the partners. |
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Line of Business : |
Manufacturer of Trailer Components, Caravan Product, Automotives
Fasteners, Spare Parts, Bearing and Landing Gear. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 24000 |
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Status : |
Small Concern |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an old but small concern. Its trade relations are fair.
Payments are reported as slow but correct. The concern can be considered for small to mediocre business dealings
at usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
B-3, 505 Navjivan Society, |
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Tel. No.: |
91-22-23051368 |
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Fax No.: |
91-22-23073620 |
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E-Mail : |
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Website : |
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Area : |
Small |
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Location : |
Rented |
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Factory 1 : |
KV House, 34 Industrial Area, Phagwara 144 401, ( |
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Tel. No.: |
91-1824-503444 / 503777 |
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Fax No.: |
91-1824-221777 |
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E-Mail : |
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Area : |
Medium sized |
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Location : |
Owned |
PARTNERS
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Name : |
Mr. Mantreet Singh Sethi |
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Designation : |
Partner |
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Date of Birth/Age : |
30 Years |
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Qualification: |
Graduate |
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Experience : |
12 Years |
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Name : |
Mr. Ken Sethi |
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Designation : |
Partner |
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Name : |
Mr. Jack Sethi |
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Designation : |
Partner |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Trailer Components, Caravan Products, Automotives
Fasteners, Spare Parts, Bearing and Landing Gear. |
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Exports : |
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Products : |
Trailer Parts |
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Countries : |
Europe, |
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Terms : |
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Selling : |
L/C, Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
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Customers : |
End Users |
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No. of Employees : |
Total:25 (Office:5, Factory:20) |
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Bankers : |
Central Bank of Opera House, Mumbai: 400004 |
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Facilities : |
The concern enjoy some facilities from it’s Banker |
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Banking
Relations : |
Satisfactory |
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Associates/Subsidiaries : |
Indian Auto Industries Mumbai |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.3.000 Millions |
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Borrowed : |
Rs.3.000 Millions |
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Total : |
Rs.6.000 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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11.000 |
8.000 |
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Export Value |
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2.000 |
1.000 |
LOCAL AGENCY FURTHER INFORMATION
As Per Web Site:
Innovation and creativity
are the drivers of growth in the new millennium. It enables a quantum leap to
unimagined results and solutions. Subject a world-class auto Components Company
believe, in being innovative, with sharp ideas, custom-made solutions and
impeccable execution, You may call them insightful, as well, with and elevated
viewpoint, client focus and global reach.
It was in 1958,
Late Sardar Kirpal S. Sethi had a vision extending beyond manufacturing quality
auto components in a small town of
Today, the company
is managed by highly qualified management, who have expanded the business to
new horizons and been continuously increasing the market share in world markets
with products made to meet the highest quality standard of PPAP level. New
products are continuously added to the product range.
The company ensures
customer satisfaction with unparalleled quality and service and experienced
exemplary growth, What's more, they meet client requirements in accordance with
their expectations. They deeply believe, they can grow by enabling their
clients to grow. Their attitude gives them away as a company offering
tomorrow's solutions today. No wonder, they have satisfied dealers in more than
28 countries including OEM's
What' move. They
always face challenges head on. They train and strengthen their human assets'
knowledge, skills and perspectives. Their attempt is to continuously transform
the company into a centre of excellence that further breeds excellence.
To catalyse
productivity, they upgrade technologies. They believe in customer happiness and
constantly probe market trends and emerging customer needs At the centre or
their quality angle is computer-aided design via I-DEAS, CAD, and
computer-aided manufacturing, coupled with modern technologies viz SPC, FMEA,
PPAP and APQP. This strengthens their ability to deliver defect-free products
at no extra cost to the global automobile industry
The global quality
standards of the company are attested by ABS Quality Evaluations, Inc for
American Standard and RVA has certified their facility for ISO 9001:2000 as per
European Standard and now, they are aiming for TS 16949:2002.
The company is
aiming to achieve a per annum sales turnover of around $ 16 million within next
5 years.
Tomorrow, they
intend to explore new horizons and avenues, For them, it was never as promising
and smooth.
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 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.40.73 |
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1 |
Rs.80.43 |
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Euro |
1 |
Rs.54.74 |
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 |
4 |
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OPERATING SCALE |
1~10 |
4 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
4 |
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--RESERVES |
1~10 |
4 |
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--CREDIT LINES |
1~10 |
4 |
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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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38 |
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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