MIRA
INFORM REPORT
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Report Date : |
05.06.2007 |
IDENTIFICATION DETAILS
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Name : |
METAL GEMS |
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Registered Office : |
38, 2ND Pathan Street, 5th Kumbharwada, Mumbai –
400 004, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1997 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMM18760A |
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Legal Form : |
Partnership concern with an unlimited liability of the partners. |
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Line of Business : |
Manufacturers of copper and copper alloy tube, rods, bars, strips and
profiles. |
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 80000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
This report is based on an interview with Mr. Nishid of the concern. Subject is a well established concern having satisfactory track. Trade relations are fair. Payments are reported as correct and as per
commitments The concern can be considered good for normal business dealings at
usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
38, 2ND Pathan Street, 5th Kumbharwada, Mumbai –
400 004, |
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Tel. No.: |
91-22-56375001 |
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Fax No.: |
91-22-23802950 |
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E-Mail : |
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Website : |
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Area : |
500 Sq. fts. |
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Location : |
Owned by partners |
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Factory : |
Plot No. 113-120, Panchal Udyog Nagar, Bhimpore, Daman – 396 210, |
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Tel. No.: |
91-260-2220720 |
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Area : |
40000 Sq. fts. (industrial Building) |
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Location : |
Owned |
PARTNERS
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Name : |
Mr. Sanjay Shah |
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Designation : |
Partner |
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Date of Birth/Age : |
38 years |
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Qualification : |
Graduate |
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Experience : |
15 years |
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Name : |
Mr. Rikhab Mehta |
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Designation : |
Partner |
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Date of Birth/Age : |
47 years |
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Qualification : |
Under Graduate |
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Experience : |
25 years |
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Name : |
Mr. Gunpat Mehta |
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Designation : |
Partner |
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Date of Birth/Age : |
37 years |
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Qualification : |
Under Graduate |
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Experience : |
15 years |
BUSINESS DETAILS
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Line of Business : |
Manufacturers of copper and copper alloy tube, rods, bars, strips and
profiles. |
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Products : |
v
Copper Tubes v
Brass Tubes v
Cupro Nickel v
Other Products |
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Exports : |
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Products : |
Copper and Copper Alloy Products |
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Countries : |
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Imports : |
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Products : |
Raw materials |
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Countries : |
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Terms : |
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Selling : |
Advance, Credit (30 days) |
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Purchasing : |
Credit (30 days) |
GENERAL INFORMATION
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Customers : |
Wholesalers, OEM’s and End Users. |
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No. of Employees : |
80 |
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Bankers : |
v
ICICI Bank Churchgate, Mumbai
– 400 20, v
Citi Bank
Mumbai, |
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Facilities : |
The concern enjoys some facilities fro, its Banker. |
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Banking
Relations : |
Satisfactory |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 20.000 millions |
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Borrowed : |
- |
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Total : |
Rs. 20.000 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
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Particulars |
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31.03.2007 |
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Sales Turnover |
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600.000 |
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Profit/Loss for the year |
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NA |
Expected Sales (2007-08) : Rs. 650.000 millions
LOCAL AGENCY FURTHER INFORMATION
Trade References
v Larsen and Toubro
v ABB
v Blue Star
v Railways
v BHEL
v Siemens Limited
Website details attached
Established in 1997, Subject is today one of the leading
manufacturer and exporter of copper and copper alloy tube, rods, bars, strips
and profiles in
They began their operations with the determination to supply premium quality
electrical accessories at the most attractive prices and today due to their
persistent efforts the company has secured a strong foothold in the global
market
Quality Assurance
In
order to ensure total customer satisfaction they have built-up a solid
infrastructure and techno-commercial network in
Infrastructure
Their prime assets are
their personnel, whose experience and expertise are unsurpassed. Their
professionals go through continuous training, resulting in constant research,
innovations and developments. Their manufacturing unit is located in
Client Base
The uncompromising quest to satisfy our customer led in a consistent increase in our business. Today, we can proudly state the large number of clients who are completely satisfied and loyal towards our brand. To name few are SIEMENS, L&T, ABB, BLUE STAR, GODREJ, CARRIER, RAILWAYS, BHEL and DEFENCE.
Quality Policy
They are committed to make the organization growth-oriented,
manufacturers and suppliers of Copper - based alloy item for various
application, to customer’s satisfaction. This shall be achieved by complying and
monitoring the Effectiveness of Quality Management System established in the
organization and through continual improvement.
A name to
reckon with in the manufacture and export of International quality copper
pipes, metal pipes, brass pipes, copper-based alloy pipes, rods, strips, tubes
and other electrical accessories. Subject has become a dependable name owing to
its constant endeavor to ensure innovation and quality
Factory
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Melting Process
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Extrusion process
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Laboratory
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Drawing Unit
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Physical Testing
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Research and 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. 40.56 |
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1 |
Rs.80.81 |
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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 |
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 |
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 |
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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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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