MIRA
INFORM REPORT
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Report Date : |
09.06.2007 |
IDENTIFICATION DETAILS
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Name : |
BHAMBRA OVERSEAS |
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Registered Office : |
111 / G, D L F Industrial Area, Phase – I, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
2002 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
RTKB02974G |
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PAN No.: [Permanent
Account No.] |
AAEFB2871J |
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Legal Form : |
Partnership concern with an unlimited liability of the partners. |
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Line of Business : |
Manufacturer and Seller of Glass Machinery, |
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 12000 |
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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 a small concern having moderate track. Trade relations are fair. Payments are reported as slow but correct. The concern can be considered for small business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office: |
111 / G, D L F Industrial Area, Phase – I, |
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Tel. No.: |
91-129-2254876 / 4113213 / 4113215 / 2274813 / 4087215 |
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Mobile No.: |
91-9810042022 |
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Fax No.: |
91-129-4113215 / 4088215 |
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E-Mail : |
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Website : |
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Area : |
700 Sq. fts. |
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Location : |
Owned |
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Factory: |
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Location : |
Owned |
PARTNERS
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Name : |
Mr. Jaspal Singh Bhambra |
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Designation : |
Partner |
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Mobile No.: |
91-9810042022 / 9810097901 |
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Name : |
Mr. Balwander Singh |
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Designation : |
Partner |
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Name : |
Mr. Narinder Singh |
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Designation : |
Partner |
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Mobile No.: |
9810020824 |
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Name : |
Mr. Surinder Singh |
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Designation : |
Partner |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Seller of Glass Machinery, |
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Products : |
v
v
Architectural designs |
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Exports to: |
Middle East and |
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Imports : |
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Products : |
Raw Material |
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Countries : |
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Terms : |
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Selling : |
Cash or Credit |
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Purchasing : |
L/C, Cash or Credit terms. |
GENERAL INFORMATION
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Customers : |
Wholesalers and Retailers |
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No. of Employees : |
10 |
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Bankers : |
Oriental Bank of Commerce, |
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Facilities : |
Subject enjoys cash credit facility of Rs. 2.500 millions
from its bankers |
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Banking
Relations : |
Unknown |
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Associates/Subsidiaries : |
Ř
Bhambra Machine Tools, -- Manufacturer of Glass Machinery Ř Bhambra International -- Trading in Diamond Tools |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 3.000 millions |
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Borrowed : |
- |
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Total : |
Rs. 3.000 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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9.500 |
7.500 |
Expected Sales (2007-08) : Rs. 12.000 millions
LOCAL AGENCY FURTHER INFORMATION
Website details attached
Subject, an ultimate
answer to all glass needs, was established in the year 1980. For more than two
decades now, subject has ruled
over the glass industry as a pioneer manufacturer of Value Added glass
products. Subject brings to its
most esteemed customers an exclusive and exquisite range of Value Added glass
products such as wash basins, art glass
and glass furniture.
They offer the most elaborate and
exclusive range of wash basins in myriads of styles, designs, shapes and sizes.
It is a result of their prolonged and exhaustive research that they are able to
manufacture some most elegant and creative designs in the wash basins.
They boast of their 2.10 lakh sq. ft.
state-of-the-art manufacturing facilities which include some most advanced
technologies and machinery from world leaders in glass processing industry. The
most sophisticated tools and equipments give full support to the artistic and
engineering aptitude of their professional team to create unprecedented, par
excellence products. Their technically qualified and experienced manufacturing
workforce keeps a tab on the changing world trends so as to keep edge with the
international market and its standards.
Their wash basins are finding a wide
application in homes, offices, hotels, restaurants, bars etc. They are catering
to an ever-increasing demand of both the domestic as well as international
markets with their high quality, exclusive products. Every product that bears
their name is a blend of ecstasy and excellence.
Seeing believes, and they are
sure that once seen, their products never give way to a second thought!
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. 40.98 |
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1 |
Rs. 80.98 |
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Euro |
1 |
Rs. 54.99 |
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 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
3 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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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 |
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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29 |
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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