MIRA
INFORM REPORT
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Report Date : |
19.06.2007 |
IDENTIFICATION DETAILS
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Name : |
FALCON SAFETY EQUIPMENT LIMITED |
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Registered Office : |
54/ (B-12), Najafgarh Industrial Area, Rama, |
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Country : |
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Date of Incorporation : |
07.08.2003 |
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Com. Reg. No.: |
121682 |
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CIN No.: [Company
Identification No.] |
U74999DL2003PLC121682 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELF02738B |
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PAN No.: [Permanent
Account No.] |
AAACF7702K |
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Legal Form : |
A Closely held public limited liability company |
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Line of Business : |
Manufacturer of Fire Extinguishers/ Equipments, Fire Alarm Control
Panels and Accessories. |
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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Status : |
Moderate |
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Payment Behaviour : |
Slow But Correct |
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Litigation : |
Clear |
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Comments : |
Subject appears to be a small company in it’s business. It’s Trade relations
are fair. Payments are reported as slow. In absence of financials, it is
difficult to access company’s current performance and financial status. Hence, it would be advisable to deal with the company for normal
business dealings at usual trade terms and conditions with some caution. |
LOCATIONS
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Registered Office / Factory: |
54/ (B-12), Najafgarh Industrial Area, Rama, |
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Tel. No.: |
91-11-45095152/ 45095153/ 45095154/ 45095155 |
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Fax No.: |
91-11-45095152/ 45095153/ 45095154/ 45095155 |
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Website : |
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Location : |
Rented |
DIRECTORS
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Name : |
Mr. Sunil Bhardwaj |
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Designation : |
Director |
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Mobile No.: |
91-9818998222 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Fire Extinguishers/ Equipments, Fire Alarm Control
Panels and Accessories. |
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Products : |
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Exports : |
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Products : |
Fire Alarm Control Panels |
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Countries : |
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Terms : |
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Selling : |
Credit (30 , 60 days) |
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Purchasing : |
Credit (30 , 60 days) |
GENERAL INFORMATION
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Customers : |
Wholesalers |
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No. of Employees : |
30 |
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Bankers : |
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Banking
Relations : |
-- |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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100000 |
Equity Shares |
Rs. 10/- each |
Rs. 1.000 Million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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31000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.310 Million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
No financial are available from registry.
Management of the company has assured to provide financial and business
details and if they provide, a can be expected.
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Particulars |
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31.03.2007 |
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Sales Turnover |
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25.000 |
LOCAL AGENCY FURTHER INFORMATION
Company Profile:
The company is proud of their excellent history of reliable and timely services offered to the
fire fighting indthemtry. They are manufacturer, exporter and supplier
of premium quality of Fire
Extinguishers, Fire Alarm Panels and their accessories. Eversince the
time of their inception, they have aimed to provide fast and professional
services at best competitive prices. Whether you are starting a new business or
just need an inspection, their motto is to be the first fire service company
that you contact. Their highly skilled service team wil be delighted to assess
the needs and discuss the varied custom-made options best suitable for you.
Falcon Safety Equipment Limited with its brand 'Excel' is a 'ISO 9001:2000 Certified company with
ISI products engaged in various activities in fire protection. They are largely
involved in the manufacturing of an entire range of Fire Extinguishers, Fire Alarm Panels and their accessories.
The Fire Fighting Accessories includes a wide array of corrosion-resistant,
dependable brass accessories which are offered in recognition of the varied
requirement of perfect products in the crucial field of fire fighting.
Eversince their inception in 1996, they have organized a distribution network
across
They also deal in turnkey projects for
Sprinkler and Hydrant Systems. They are a modernized company working
with the latest technology. Their constant endeavor in research and development
has kept them abreast of new fire and safety methods and techniques. They
believe in providing absolute customer satisfaction through their reliable
sales services. They offer their product range i.e. Fire Extinguishers, Fire Alarm Panels and their accessories and
services to Europe, South East and
various other markets across the globe.
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.40.70 |
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1 |
Rs.80.80 |
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Euro |
1 |
Rs.54.65 |
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 |
4 |
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OPERATING SCALE |
1~10 |
4 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
4 |
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--RESERVES |
1~10 |
4 |
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--CREDIT LINES |
1~10 |
4 |
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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 |
NO |
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TOTAL |
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37 |
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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