MIRA
INFORM REPORT
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Report Date : |
27.06.2007 |
IDENTIFICATION DETAILS
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Name : |
KOMAL ENTERPRISES |
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Registered Office : |
Shop No. 2033, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1965 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer and Exporter of Tandoor and Commercial Kitchen Equipments |
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 10000 |
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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 and 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 : |
Shop No. 2033, |
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Tel. No.: |
91-11-27815175 / 65821957 / 25778172 / 4162 |
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Mobile No.: |
91-9810079164 / 9811709667 |
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Fax No.: |
91-11-25774162 |
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E-Mail : |
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Website : |
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Area : |
2000 gaj |
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Location : |
Owned |
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Factory: |
Khasra No 552, Rajiv Nagar, Bhalsanda
Dairy, |
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Area : |
2000 gaj |
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Location : |
Owned |
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SOLE PROPRIETOR
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Name : |
Mr. Rajendra Kumar Pappu |
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Designation : |
Proprietor |
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Date of Birth/Age : |
40 + Years |
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Qualification : |
Graduate |
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Experience : |
20 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Tandoor and Commercial Kitchen Equipments |
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Products : |
-Stock Pot Range |
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Exports : |
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Products : |
Mainly Tandoors |
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Countries : |
Mainly |
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Terms : |
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Selling : |
Cash, Credit (30 days) |
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Purchasing : |
Cash, Credit (30 days) |
GENERAL INFORMATION
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Customers : |
Wholesalers, Retailers |
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No. of Employees : |
29 |
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Bankers : |
HDFC Bank |
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Banking
Relations : |
Satisfactory |
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CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.2.500 millions |
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Borrowed : |
- |
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Total : |
Rs.2.500 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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11.000 |
15.000 |
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Expected Sales (2007-08) : Rs.20.000 millions
LOCAL AGENCY FURTHER INFORMATION
Trade Reference:
©
Gulati International,
©
M/s. Nichi in
©
Awar Trading East, Aman, Jordon
Company Details:
Subject is an Indian based
company engaged in manufacturing marketing and exporting of eco-friendly Cooking System or Clay Oven called Clay
Tandoor. Ever since their inception they have been widely exporting
their products to various countries across the globe and have also installed
the Commercial Kitchen Equipments
in Hotels, Restaurants, Canteens, Clubs, Hospitals, Catering Units, Defence
Kitchens, Farmhouses and Dhabas. In manufacturing these Tandoors they have made
their best efforts to stay abreast with the emerging trends and styles required
and to be able to suit modernized kitchens. They specialize in Clay Tandoors, Mobile Drum Tandoors (made up
of mild steel and stainless steel) and Tanki Tandoor.
They are widely known as the exporters of
Tandoors and Commercial Kitchen Equipments, which are successfully performing
in most of the Hotels, Restaurants, Clubs and Catering Units.
All their products are aesthetic blend of
traditional art with modern techniques. They have progressed in their mission
because of their consistent indulgence in excellence, sincere expertise and
quality proven finish of Clay Tandoors.
They have managed to reduce the worries of pre-heating and constant heating
pressure. They have developed new techniques by which the Clay Tandoor can be
heated by coal as well as by gas. The raw material used in these tandoors is
hygienic and dust free and does not change the taste and quality of the breads
and flour made bakeries, chicken, fish etc., which is baked in these tandoors.
They are well cooked from back to front and do not effect the originality of
the stuff put in. Every effort has been made to make them pollution free.
They have their own workshop and are highly
motivated, spirited and skilled staff for manufacturing and marketing a vast
variety of all-fittings and shape.
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.40.95 |
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1 |
Rs.81.80 |
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Euro |
1 |
Rs.55.09 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
8 |
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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 |
NO |
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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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50 |
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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