MIRA
INFORM REPORT
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Report Date : |
01.06.2007 |
IDENTIFICATION DETAILS
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Name : |
NEELKAMAL STEEL CENTRE |
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Registered Office : |
4th |
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Country : |
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Date of Incorporation : |
1987 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Importers, Stockiest &
Supplier of various types of Stainless Steel, Aluminium, in the forms of Sheets,
Plates, Flats, Pipes, Tubes, strips, Ingots, Wires, Angles, Rods, Circle,
Pipe – Fittings, (Elbows, Bends, Flanges, Reducers, Valves). &, S. S.
Fasteners etc. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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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 : |
USD20000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established concern having satisfactory track.
Proprietor of the concern is reported as experienced, respectable and having
satisfactory means of his own. His trade relations are fair. Payments are
usually correct and as per commitment. The concern can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
4th |
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Tel. No.: |
91-22-23895875/78 / 66109316 |
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Fax No.: |
91-22-23895876 |
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Website : |
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Area : |
100 sq. ft. |
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Location : |
Rented |
SOLE PROPRIETOR/PARTNERS/DIRECTORS
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Name : |
Mr. Prakash Jain |
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Designation : |
Sole Proprietor |
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Age : |
44 years |
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Qualification : |
Undergraduate |
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Experience : |
24 years |
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BUSINESS DETAILS
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Line of Business : |
Importers, Stockiest &
Supplier of various types of Stainless Steel, Aluminium, in the forms of
Sheets, Plates, Flats, Pipes, Tubes, strips, Ingots, Wires, Angles, Rods, Circle,
Pipe – Fittings, (Elbows, Bends, Flanges, Reducers, Valves). &, S. S.
Fasteners etc. |
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Products : |
Stainless Steel, Copper, Bras, Aluminium, Rods, Pipes, Sheets, Plates and Wires |
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Terms : |
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Selling : |
Cash, Credit |
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Purchasing : |
Cash, Credit |
GENERAL INFORMATION
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Customers : |
Wholesalers, Retailers and End Users |
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No. of Employees : |
4 |
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Bankers : |
HDFC Bank, Bank of |
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Banking
Relations : |
Satisfactory |
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Auditors : |
D. C. Bothria and Company Chartered Accountants |
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Associates/Subsidiaries : |
Nexus Impex Shop B/14, Ground Floorm Khamhata road, 8 Khetwadi, Established Year: 2005 Line of Business: Importers and Traders of Steel Proprietor- Mr. Sanjay Jain Bankers:HDFC Bank, |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 3.000 millions |
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Borrowed : |
Rs. 2.000 millions |
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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 |
80.000 |
40.000 |
39.000 |
LOCAL AGENCY FURTHER INFORMATION
Trade Reference :
Plantex Engineering,
Mr. Chandrashekhar
Mobile No: 91-9949351007
STAINLESS STEEL PIPE &
TUBES (Seamless & ERW),
PLATES, SHEETS & COILS
(Imported & Indian)
1) Stainless steel Cold rolled coils & sheet packets, Hot rolled plates and
coils.
2) Grade 304 & 316
& 321 & 310
3) Thickness: 0.8mm to 3.3mm & 4.0MM to 50.0mm.
4) Width: 1000mm, 1220mm.
1500mm, 1800mm, 2000mm,
5) Finish: 2B , BA., MATT, PVC MATT, NO.1, HR, CR.
6) Monthly Requirement of
50 to 80 Metric tones.
7) Seamless & welded
pipes, AISI 304, 316, 310, & 321, quality & schedule pipes size 1.6mm
OD (1/6 to 12straight lengths.
IMPORTERS AND SUPPLIERS:
SUMARY OF GENERAL ITEMS AVAILABLE
Stainless Steel Pipes: Seamless & welded AISI 304, 316 310 & 321
quality & schedule pipes size 1.6mm OD (1/6” to 12”straight lengths.)
Stainless steel sheet : Size 100mm to 025mm thick (60” to 011” in rolls form )
AISI 304,310,316L,321
Stainless steel rod: Round /square/hex 304,310,316L,321
Stainless steel Fitting: Short radius elbow, Long radius elbow, concertic
reducer, cops electric reducer, stud ends, tees, coupling, thread reducing
nipples and all s s fiting
Stainless steel: Wire, stripes, ingot and flat, AISI 304, 316 310 & 321
Brass pipes/rods: Quality 70/30 alloys 67/33, 65/35, 63/37 composition
Aluminium : Tubes, roads, sheet, plates, strips, roll, coils, foils and ingot.
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.40.54 |
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1 |
Rs.80.21 |
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Euro |
1 |
Rs.54.51 |
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 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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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 |
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 |
NO |
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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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46 |
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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