MIRA INFORM REPORT
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Report Date : |
22.06.2007 |
IDENTIFICATION DETAILS
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Name : |
KANWAL
ENTERPRISES |
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Registered Office : |
Gali
No. 3-4, Sheetla Colony, Sector – 5 Road, Gurgaon – 122001, Haryana |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1995 |
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Legal Form : |
Sole
Proprietory Concern |
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Line of Business : |
Manufacturer,
Trader and Exporter of Special Purpose Machinery suitable for Filters, Auto and
others like Gas Filters etc. |
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
6000 |
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Status : |
Satisfactory
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Payment Behaviour : |
Usually
Correct |
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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 and respectable businessman. His 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/Factory : |
Gali
No. 3-4, Sheetla Colony, Sector – 5 Road, Gurgaon – 122001, Haryana, India |
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Tel. No.: |
91-124-2222090/4076496 |
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Mobile No.: |
91-9810271423 |
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Fax No.: |
91-124-2222090 |
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E-Mail : |
kanwalenterprises@gmail.com, kanwalenterprises2003@yahoo.com |
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Website : |
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Area : |
400
Sq. Yards |
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Location : |
Owned |
SOLE
PROPRIETOR
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Name : |
Mr.
Kanwaljit Kaur |
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Designation : |
Sole
Proprietor |
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Date of Birth/Age : |
45
Years |
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Qualification : |
Post
Graduate |
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Experience : |
6
Years |
BUSINESS
DETAILS
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Line of Business : |
Manufacturer,
Trader and Exporter of Special Purpose Machinery suitable for Filters, Auto
and others like Gas Filters etc. |
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Products : |
Filter
Machinery |
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Exports: |
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Products : |
Filter
Machinery |
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Countries : |
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Terms : |
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Selling : |
L/C,
Credit (30 days) and Y-transfer |
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Purchasing : |
L/C, Credit
(30 days) and Slight |
GENERAL INFORMATION
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Customers : |
End
Users |
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No. of Employees : |
13 -
15 |
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Bankers : |
©
Standard Chartered Bank
Gurgaon, |
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Banking Relations : |
Satisfactory
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Auditors : |
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Name: |
Mr.
Vinay Jain Chartered
Accountant |
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Address: |
Sector
– 15, Gurgaon |
CAPITAL STRUCTURE
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Capital
Investment : |
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Owned : |
Rs.
1.500 Millions |
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Borrowed : |
Nil |
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Total : |
Rs. 1.500
Millions |
FINANCIAL
DATA
[all figures are in Rupees Millions]
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Particulars |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
8.000 |
6.400 |
6.000 |
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Profit/Loss for the year |
NA |
0.300 |
0.250 |
Expected
Sales (2007-08) : Rs. 20.000 millions
LOCAL AGENCY FURTHER INFORMATION
Trade
References
v
Anfilpo Limited, Gurgaon,
v
Johnfower Limited,
v
Infra Radiant Engineering Private Limited, Chennai,
v
Spectrum Filteration Private Limited, Kolkata, West
v
Dyna Filter Private Limited, Pune,
v
Northern Techmart LLC,
As Per Web
Profile
Established in 1995, subject is a leading manufacturer and exporter
of high caliber Filter Making Machines like oil filters, air filters, industrial filters,
bag filters, etc. for application in the filter manufacturing industry. They provide a wide range of
products from Mini-Plating machinery, Hot melt dispensing equipment, Special
purpose machines used in the manufacture of GT Filters, HEPA Filters and Automotive Filters. They develop and
deliver machinery that enable customers to develop filters optimized to deliver
the highest levels of performance in a cost-effective manner. They are
committed to provide products that enhance the quality of the filtration
devices made by their customers.
Strong expertise and enhanced capabilities are the hallmarks at Kanwal
Enterprises. Their expertise in the industry has been built up over the years
providing machinery of varying complexities and design requirements to diverse
customers. This empowers us to conceptualize, design, develop and build
products of any specification as required by customers fast turnaround times
without compromising on quality.
Through methodical and meticulous production planning, adherence to
quality control measures and well-defined processes at every stage of
manufacturing operations, they have nurtured a business model that provides
customers with the products that bear the unmistakable mark of premium quality.
Their dedication to excellence has over the years helped us in establishing a
successful business relationships with clients in
Products
They
design and manufacture filter manufacturing machines that includes:
©
HEPA Filters
©
GT Filters
©
Automotive Fuel Filters
©
Oil Filters
©
Air Filters
©
Industrial Filters
©
Gas Turbine Elements
©
Bag Filters
© Filter Manufacturing Special Purpose Machines.
Besides, they also undertake design and development of special purpose
machines to fulfill the specific requirements of our valued clients.
Infrastructure
They are equipped with the state-of-the-art manufacturing units conforming to
international standards and specifications. Their cutting-edge technologies and
advanced techniques enable our team of experts to develop superior products.
Any industry with a base in technology requires a constant update in technical
knowledge and upgrade in machinery to keep abreast of the latest developments
in the industry. With their expertise and innovative methods, they have
consistently delivered value to the customers in terms of new design
development and procedural enhancement.
Quality
At Kanwal Enterprises, quality and value are integrated into every aspect of
their operations. They create value for the customers by developing and
implementing innovative solutions that are financially and technically
sustainable. While high quality products provide added value to customers in
terms of productivity, their satisfaction in turn, inspires us to constantly
enhance the quality of products.
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
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Indian Rupees |
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US
Dollar |
1 |
Rs.40.75 |
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|
1 |
Rs.81.17 |
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Euro |
1 |
Rs.54.59 |
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 |
4 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
3 |
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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 |
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 |
YES |
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TOTAL |
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41 |
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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