MIRA
INFORM REPORT
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Report Date : |
20.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
TEXONIC INSTRUMENTS |
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Registered Office : |
P. B. No. 3746, 9, Athipattan Street, Mount Road, Chennai – 600002,
Tamilnadu |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
1970 |
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Com. Reg. No.: |
TIN for VAT – 33840580223 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CHET00426G |
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Legal Form : |
Partnership concern with an unlimited liability of the partners |
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Line of Business : |
Importers and Distributors of Networking Products, Electronic
Components Materials, Structured Cabling, Access Control Systems, Security
Products 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 200000 |
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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. 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
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Registered Office / Corporate Office : |
P. O. Box 3746, 9, Athipattan Street, Mount Road, Chennai
- 600 002, Tamilnadu, India |
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Tel. No.: |
91-44-28419405, 28410638 (5
Lines) |
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Fax No.: |
91-44-28535187 |
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E-Mail : |
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Website : |
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Networking Division : |
No: 12 Dr Radhakrishnan Salai,
9Th Street, Mylapore Chennai - 600004. India |
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Tel. No.: |
91-44-52118608/09 |
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Fax No.: |
91-44-52118580 |
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E-Mail : |
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Networking Division : |
387, 1st Cross,
12th Main, H.A.L II Stage, Indira Nagar, Bangalore – 38. India |
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Tel. No.: |
91-80-25285217, 25292161 |
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Fax No.: |
91-80-25286244 |
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E-Mail : |
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Branches : |
2, Mandiveerappa Lane, S.J.P.
Road Cross, Bangalore - 560 002. India |
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Tel. No.: |
91-80-22232908, 22246690 |
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Fax No.: |
91-80-22224620 |
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E-Mail : |
PARTNERS
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Name : |
Mr. Mahavir Bhandari |
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Designation : |
Partner |
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Name : |
Mr. Nitesh Bhandari |
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Designation : |
Partner |
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Name : |
Mr. Navin Bhandari |
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Designation : |
Partner |
BUSINESS DETAILS
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Line of Business : |
Importers and Distributors of Networking Products, Electronic Components
Materials, Structured Cabling, Access Control Systems, Security Products
etc. |
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Products : |
Cell Phones and Peripherals Bluetooth Cell Holders Chargers Data Cables Hands Free Kit Multi-Simm Signal Boosters Cell Housing Lighting Fibre Optic Lighting Led Lighting El Lighting Networking Products Adaptors Hubs And USBs Internet Server ISDN Routers Media Convertors Print Servers Wireless Lan Security Products Internet Security Access Control Alarms CCTV Wireless Security Uniross Products Batteries Chargers Smps Adaptor Measuring Instruments Power Control Teaching Aids |
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Imports : |
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Products : |
Electronic Goods |
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Countries : |
China, Korea, Taiwan and Japan |
GENERAL
INFORMATION
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No. of Employees : |
50 |
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Bankers : |
South Indian Bank Mount Road Chennai – 600002 |
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Banking
Relations : |
Satisfactory |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 50.000 Millions |
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Borrowed : |
-- |
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Total : |
Rs. 50.000 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2006 |
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Sales Turnover |
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700.000 |
LOCAL AGENCY
FURTHER INFORMATION
TEXONIC INSTRUMENTS Started in the year 1970 with a vison to
provide the consumers in India at large the latest and most sophisticated
products.
This Organisation came into existence to bridge the gap between India and the
Global market. Latest Tech Products availability to the Indian market is their
motto.
Constant Upgrade to the existing range of product is the key strength to their
success. This has become a part of their business to always offer new and more.
Since Technology is the key word, today they are constantly touching peoples
day to day life and are here to make life simple and easy with their products.
At Par with the availability of these products in the global market, they look
for more.
Be a part of the Technological revolution now or be left out.
New and Novel product now on sale
Texonic Instruments offers a novel concept in components
storage-the electronic component storage box from Taiwan. This range of durable
ABS moulded boxes are designed to store a wide range of small electronic
components like resistors, capacitors, tran–sistors, diodes LEDs, ICs, SMD
devices and electronic hardware. The boxes are modular in construction and can
be side locked and stacked horizontally or vertically. Each drawer has 15
compart-ments. Provision for fixing identification labels on each drawer. The
boxes are available in four colours – white, grey, red and blue. The drawer
size in 265 x 138 x 32.5 mm and each drawer has 15 compartments. These have
easy sliding and elegant finish.
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
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.43.63 |
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UK Pound |
1 |
Rs.85.58 |
|
Euro |
1 |
Rs.58.08 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
7 |
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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 |
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 |
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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47 |
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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