MIRA
INFORM REPORT
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Report Date : |
06.06.2007 |
IDENTIFICATION DETAILS
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Name : |
CENTRAL ELECTRIC CORPORATION |
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Registered Office : |
53, South Park, B – Block, C.R. Park (Near Nehru Place), Kalkaji, New
Delhi – 110019 |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1985 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Dealer / Stockist of various types of Electrical items. |
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 24000 |
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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 an 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. |
LOCATIONS
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Registered Office : |
53, South Park, B – Block, C.R. Park (Near Nehru Place), Kalkaji, New
Delhi – 110019 |
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Tel. No.: |
91-11-26228833 |
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Mobile No.: |
91-9811058900 |
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Fax No.: |
91-11-26463464 |
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E-Mail : |
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Website : |
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Area : |
800sq.fts |
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Location : |
Owned |
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Sales Office : |
10, Narain Bazar, |
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Tel. No.: |
91-11-66312832 / 23863522 |
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Fax No.: |
91-11-23866522 |
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Area : |
600sq.fts |
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Location : |
Owned |
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SOLE PROPRIETOR
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Name : |
Mr. Anil Sharma |
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Designation : |
Proprietor |
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Date of Birth/Age : |
54 Years |
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Qualification : |
Graduate |
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Experience : |
30 Years |
BUSINESS DETAILS
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Line of Business : |
Dealer / Stockist of various types of Electrical items |
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Products : |
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Terms : |
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Selling : |
Cash or 10-45 days Credit |
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Purchasing : |
Advance, Cash or 15-45 days Credit |
GENERAL INFORMATION
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Suppliers : |
All Leading Brands |
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Customers : |
♦
Projects ♦
Industries ♦
Government / Semi – Government ♦
Private / Public Sector ♦
NTPC ♦
NHPC ♦
MES ♦
ONG ♦
Indian Oil Corporation ♦
Railways ♦
Air |
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No. of Employees : |
25 |
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Bankers : |
Union Bank Yusaf Sarai, |
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Facilities : |
Rs.5.000 millions |
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Banking
Relations : |
Satisfactory |
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Associates/Subsidiaries : |
Asian Metal and Tools Corporation Address: Ajmeri Gate, Activities: Hardware and Tools Sales Turnover: Rs.20.000 millions Employees: 10 |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.6.000 millions |
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Borrowed : |
- |
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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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50.000 |
40.000 |
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Gross Profit |
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13% |
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Profit After Tax |
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8% |
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Expected Sales (2007-08) : Rs.70.000 millions
LOCAL AGENCY FURTHER INFORMATION
Future Programs of
Company:
Subject wants to start direct Import and Export.
Incepted in 1985
is an ISO 9001:2000 certified & one of the leading authorized Dealer/ Stockist of various types of
electrical items.
They stock & procure all the leading brands of electrical items confirming
to quality control/ BSI/ ISO certified and approved manufacturing unit with the
test certificate and guarantee/ warrantee certificates provide to their valued
customer with the all relevant documents and also provide technical assistance
for their clients like Projects, Industries, Govt./ Semi Govt. and Pvt. /
Public Sector, Infrastructure for Project and Deptts.
The focal point of their electrical business endeavors is to offer superior quality
products that are study and par-excellence. In order to achieve this, they are
consistently engaged in research to provide innovative products. Their quality
policy and customer oriented approach has helped them establish a strong
foothold in the domestic / international market.
» H.T. & L.T. All Types of Wires & Cables
They provide precision wires and cables having high tensile strength. These
wires and cables are durable and shock proof with proper insulations and can be
used for both domestic and commercial purposes.
Their Product
Application & Clients
All the above products are being widely used in all Govt./ Semi Govt./ Public
& Pvt. Projects and Industries infrastructure sectors like Thermal, Hydro/
Coal, Wind, Nuclear Power Projects, Refineries, Off-Shore Projects, Pipeline
Iron Industries Projects, Petrochemical Plants, Defence Projects, Railways,
DMRC Air India, Textile Industries, Cement Plants, Sugar Mills, Dairy Milk
Plants, Food Processing Plants, Water Treatment Plants and Other Allied
Industrial / Project Fabricators use / purchase these product regularly.
Airport Authority, Air India, Reliance Group, NHPC, L&T, IGL, GAIL, NTPC,
ONGC, State Electric Board. Alstom/ ABB/ Voith Siemes/ Maruti Udyog Ltd.
Their Strengths
Quality
They understand quality is imperative for customer satisfaction, thus they lay
special attention to all the product sourced by us. They purchase their
products only from the reputed names of the industries and cross check them in
their in-house testing unit, for their ingenuity & also tested &
approved by IS : stand / ISO / Q.C / ASML / ANSI / BR-Test certified.
Request for Their Deals Products
PURCHASE ENQ. By Mail / Fax / Post / Telephone. Pl. don't hesitate to ask for more
about their products. They can provide you complete techno/ commercial details
of all items in CD-Rom which will be furnished on registration of their firm or
against your valued purchase enquiry.
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.40.63 |
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1 |
Rs.81.01 |
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Euro |
1 |
Rs.54.89 |
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 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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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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48 |
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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