MIRA
INFORM REPORT
|
Report Date : |
18.05.2007 |
IDENTIFICATION DETAILS
|
Name : |
BALL KINGS |
|
|
|
|
Registered Office : |
Gill Road, Miller Ganj, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2007 |
|
|
|
|
Date of Incorporation : |
17.02.1988 |
|
|
|
|
Legal Form : |
Sole Proprietory Concern |
|
|
|
|
Line of Business : |
Manufacturer and exporter of Steel
Balls. |
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 20000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
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
|
Registered Office / Factory : |
Gill Road, Miller Ganj, |
|
Tel. No.: |
91-161-2534501 / 2537869 / 2539675 |
|
Mobile No.: |
91-9815000577 |
|
Fax No.: |
91-161-2534502 / 2428045 |
|
E-Mail : |
|
|
Website : |
http://www.ballking.com [Under
Construction] |
|
Area : |
18000 sq. fts. [Owned] |
SOLE PROPRIETOR
|
Name : |
Mr. Gunjeet Singh |
|
Designation : |
Proprietor |
|
Date of Birth/Age : |
42 Years |
|
Qualification : |
Graduate |
|
Experience : |
12 Years |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and exporter of Steel
Balls. |
|
|
|
|
Products : |
High Carbon High Chrome, High
Carbon, Low Carbon & Stainless Steel Balls For Bearings, Bicycles,
Motorcycles, Automobiles, Castorwheels, Agricultural Sprayers, Grinding Media
& Various Other Applications |
|
|
|
|
Exports : |
|
|
Products : |
Stainless Steel Balls |
|
Countries : |
|
|
|
|
|
Imports : |
|
|
Products : |
Machinery and Parts |
|
Countries : |
|
|
|
|
|
Terms : |
|
|
Selling : |
L/C, Cash, Credit [60 days] and at Sight |
|
|
|
|
Purchasing : |
L/C, Cash and Credit |
PRODUCTION STATUS
|
Particulars |
Unit |
|
|
Installed
Capacity |
|
Steel Balls |
M. T. |
|
|
120 |
GENERAL INFORMATION
|
Customers : |
Local Customers and End Users |
|
|
|
|
No. of Employees : |
116 |
|
|
|
|
Bankers : |
Miller Ganj, Punjab National Bank |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Aggarwal Garg and Company Chartered Accountants |
|
Address : |
|
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Rs. 5.000 Millions |
|
Borrowed : |
-- |
|
Total : |
Rs. 5.000 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
|
Particulars |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
Sales Turnover |
64.000 |
53.000 |
52.000 |
|
|
|
|
|
|
Profit/Loss for the year |
2.350 |
2.265 |
2.000 |
|
|
|
|
|
LOCAL AGENCY FURTHER INFORMATION
Trade Reference
- Hero Cycle
- Atlas Cycle
- NBC Bearing
Profile
Subject is a highly recognized and leading enterprise engaged as a
manufacturer and exporter of Steel Balls of premium quality. Since their
inception, they have achieved immense success in the market which can be attributed
to a number of factors such as their knowledge and experience of the team
members, continuous improvements in quality and full satisfaction of their
customers. They strongly believe that the success of any business ultimately
depends on satisfaction of the customers and they adhere to their commitment to
provide best quality products at competitive prices.
They continually review their
manufacturing methods to improve their processes and promote the highest
standards of quality. Their futuristic attitude has led to establishment of
business relationships with noted companies, that has resulted in their
increasing turnover.
Quality
The Steel Balls manufactured by them are made by highly accurate
machines, which allow them to conduct close dimensional control over each stage
of production. All the raw materials used by them are procured from nation's
top steel producers and all materials are checked at initial, in-process and
final stages. They adhere to strict quality control measures throughout the
manufacturing process.
Potential
Their strengths have shown them the path to
accelerated growth in terms of quality improvement and expansion. Their core
strengths include:-
·
Sophisticated
Technology
·
Total Quality
Management Program
·
Dedicated Professionals
- Manufacturing
Capabilities
Clients
They have their clients spread around the domestic as well as international
front. Their clients are not just one time customers but are regularly engaged
with us. They supply excellent quality products that meet their clients'
business challenges while increasing operational efficiency. They have
increased their expertise and experience in addressing the requirements of
their clients by offering high quality products. They have a strong national
distribution network with their own expert marketing capabilities to bring the
best of products. They are capable of supplying large quantities with ease as
they possess efficient transportation facilities and strong logistic systems.
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.40.90 |
|
|
1 |
Rs.80.78 |
|
Euro |
1 |
Rs.55.18 |
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 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--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 |
|
46 |
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 |
|