MIRA
INFORM REPORT
|
Report Date : |
13.06.2007 |
IDENTIFICATION DETAILS
|
Name : |
LORDS ENTERPRISES |
|
|
|
|
Registered Office : |
1620, 1st floor, Lal Kuan, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2007 |
|
|
|
|
Date of Incorporation : |
1991 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
DELL02853E |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAAFL4582C |
|
|
|
|
Legal Form : |
Partnership concern with an unlimited liability of the partners. |
|
|
|
|
Line of Business : |
Manufacturer, Exporter, Importer and Marketing Agent of Home
appliances. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 6000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well-established and reputed concern having satisfactory
track. Partners are reported as
experienced and respectable businessmen.
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
|
Registered Office : |
1620, 1st floor, Lal Kuan, |
|
Tel. No.: |
91-11-23913592 |
|
Fax No.: |
91-11-23913200 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
600 Sq. fts. |
|
Location : |
Owned |
|
|
|
|
Factory 1 : |
A – 253, Okhla Industrial area, Phase – I, |
|
Tel. No.: |
91-11-41614361 / 23913592 / 65634434 / 35 |
|
Fax No.: |
91-11-41614362 / 23913200 |
|
Area : |
4000 Sq. fts. |
|
Location : |
Owned |
PARTNERS
|
Name : |
Mr. Nadim Ahmed |
|
Designation : |
Partner |
|
Mobile No.: |
91-9811040742 |
|
Date of Birth/Age : |
41 years |
|
Qualification : |
Graduate |
|
Experience : |
17 years |
|
|
|
|
Name : |
Mr. Urooj Ahmed |
|
Designation : |
Partner |
|
Mobile No.: |
91-9811476660 |
|
Date of Birth/Age : |
42 years |
|
Qualification : |
Graduate |
|
Experience : |
18 years |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter, Importer and Marketing Agent of Home appliances. |
|
|
|
|
Products : |
·
Mixer ·
Grinder ·
Juicer ·
Toaster ·
OTG ·
Hand Blender ·
Soda Maker ·
ISI Marked Irons ·
Water Heater ·
Ceiling Fan ·
Espresso Tea & Coffee Maker ·
Vacuum Cleaner ·
·
Griller ·
Oven, etc |
|
|
|
|
Exports to: |
|
|
|
|
|
Imports from: |
|
|
|
|
|
Terms : |
|
|
Selling : |
Cash or Credit (30 days – 45 days) |
|
|
|
|
Purchasing : |
Cash or Credit (30 days – 45 days) |
PRODUCTION STATUS
|
Installed Capacity, Actual
production Capacity to increase production by 40 % |
|
|
|
|
GENERAL INFORMATION
|
Suppliers : |
Purchase of raw material from Open Market |
|
|
|
|
Customers : |
Sales through Dealer and Distributors v
Big Bazar – v
I T C Limited |
|
|
|
|
No. of Employees : |
9 |
|
|
|
|
Bankers : |
Punjab National Bank Hamdard Marg, |
|
|
|
|
Facilities : |
No Overdraft |
|
|
|
|
Banking
Relations : |
Satisfactory |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Rs. 1.500 millions |
|
Borrowed : |
- |
|
Total : |
Rs. 1.500 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
|
Particulars |
|
31.03.2007 |
31.03.2006 |
|
Sales Turnover |
|
9.000 |
7.000 |
|
|
|
|
|
|
Profit/Loss for the year |
|
7% - 8 % |
NA |
Expected Sales (2007-08) : Rs. 12.500 millions
LOCAL AGENCY FURTHER INFORMATION
Website details attached
Profile
Subject is
on of the most renowned names in kitchen appliances. Producing a wide range of
value based products. Their company has been certified for an ISO 9001 CERTIFICATION IN YEAR 2002.
They produce almost all eminent items for a modern and efficient kitchen and household
items that work in coordination to make your home an accident free area. They
specialized in a wide range of products starting from ISI Marked Mixer,
Grinder, Juicer, Toaster, Griller, Hand Blender, Soda Maker, Pressure Cooker,
ISI Marked Irons, Geyser, Ceiling fans, and Utility fans, OTG, Eclectic Tandoor
and many more.
Subject started in the early eighties with a vision
to achieve perfection by catering to all consumers, needs of almost all
classes. Thus the only way out was to offer best possible products at best of
prices. Today all Lords products are prized possessions for every home.
"Subject has won the trust of discerning consumers
for more than one decade and respected and familiar in homes all over the
country. As special as a whole range of hi-quality products coming from the
totally in house R & D efforts and superlative quality
Their
factory is located at Okhla Industrial Area. Entire national and international
business is controlled through our registered office in old
Their
mission for achieving "quality
with perfection" has taken ahead and is spreading satisfied
consumer worldwide.
Established in 1991, subject has been rapidly
advancing in the field of kitchen and home appliances. They are committed
towards their avowed goal to internationalize the company and become one of the
market leaders in our arena. An ISO 9001 certified
organization they are a manufacturer, exporter, importer and
marketing agent of Mixer, Grinder, Juicer, Toaster, OTG, Hand Blender, Soda
Maker, ISI Marked Irons, Water Heater, Ceiling Fan, Espresso Tea & Coffee
Maker, Vacuum Cleaner, Sandwich Toaster, Griller and many more
The unsurpassed quality of their products, efficient management system,
a dedicated workforce and a deep commitment towards customer satisfaction has
made Lords Enterprises one of the most renowned and respected names in its
segment
Their mission for achieving "quality with perfection" has not
just taken us way ahead of their competitors but has also resulted in the
winning of a number of clients at both the domestic and international level.
Strength
At subject, all the manufacturing work is carried out by highly qualified and
technical staff, engaged in research & development. Their strong focus on
research and development has resulted in new products that are technologically
superior in terms of performance and efficiency. They give lot of importance to
quality and manufacture their products as per the international quality norms.
Advantages
·
Adherence to the industrial norms and international
quality standards
·
Indigenously developed technology with full
technical backup and applications support
·
Keeping track of all latest innovations in our
sphere and incorporating the same
·
Keeping abreast of the ever changing trends in our
field enabling them to deliver the best
·
Goodwill in the domestic and international markets
owing to integrity, reliability, innovation and customer focus
·
Adoption of stringent quality control measures at
each and every stage of production
·
Timely delivery of products, providing them an
additional edge in the market
·
Affordable prices, enabling us retain our clients.
Primary
Competitive Advantages
ISI Mark, ISO 9001 company, timely delivery, competitive prices
Future programmes of the Company:
Subject wants to start direct exports.
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 40.73 |
|
|
1 |
Rs. 80.43 |
|
Euro |
1 |
Rs. 54.44 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
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
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|