MIRA
INFORM REPORT
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Report Date : |
18.05.2007 |
IDENTIFICATION DETAILS
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Name : |
BHAWANI INDUSTRIES |
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Registered Office : |
Plot No. 1238, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
2003 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
PTLB11566C |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturers and Exporters of Play Ground Equipment, Garden
Equipment, Dust Bin 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 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 : |
Plot No. 1238, |
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Tel. No.: |
91-1276-267360 |
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Mobile No.: |
91-9811076230 |
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Fax No.: |
91-1276-267361 |
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Area : |
600 Sq. mtrs. |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Navin Lodhwal |
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Designation : |
Proprietor |
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Address : |
Bahadurgarh, |
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Mobile No.: |
91-9811076230 |
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Date of Birth/Age : |
32 years |
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Qualification : |
Under Graduate |
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Experience : |
6 years |
BUSINESS DETAILS
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Line of Business : |
Manufacturers and Exporters of Play Ground Equipment, Garden
Equipment, Dust Bin etc. |
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Products : |
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Exports : |
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Products : |
Playground Equipments |
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Countries : |
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Imports : |
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Products : |
Playground Equipments |
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Countries : |
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Terms : |
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Selling : |
L/C, Cash or Credit (30 days) |
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Purchasing : |
L/C, Cash or Credit (30 days) |
PRODUCTION STATUS
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Particulars |
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Actual
Production |
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Playground Equipments |
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As per Demand |
GENERAL INFORMATION
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Customers : |
Local and Foreigners, Retailers and End Users |
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No. of Employees : |
19 |
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Bankers : |
State Bank of Bahadurgarh, |
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Facilities : |
Credit Limit of Rs. 3.000 millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Vidhut Gupta and Company Chartered Accountants |
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Address : |
Bahadurgarh, |
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 |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
9.500 |
8.700 |
8.500 |
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Profit for the year |
0.350 |
0.300 |
0.167 |
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Export Value |
30% |
30% |
30% |
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Import Value |
40% |
40% |
40% |
LOCAL AGENCY FURTHER INFORMATION
Trade References:
- Omax
Builders, Bahadurgarh
- Parasnath
Builders
Website details Attached:
Subject is one of the prominent manufacturers,
exporters and importers dealing in premium quality of Playground
Equipments, Electro Mechanical Amusement Rides School Furniture, Blackboard,
Display Board,
etc. Their ranges of
products are famous for their quality. Their company has set its sight on
capturing the international market by providing high quality merchandise and
professional service at competitive prices.
As a leading sports equipments manufacturer, they offer a
full range basketball backstop, track and field equipment, fitness equipment,
stadium and gym facility and other related items. Their products can be
Categorized as:
Playground Equipments - Swing,
Slide, See Saw, Merry Go Round, Scramblers, Spring Riders, Net Climbers,
Bouncy, Inflatables, Multi Purpose Play System, Garden Bench, Lamp Polls,
Garbage Bin, Spit Bin, Dust Bin,
Gazebo, Meeting
Points, Soft Play Station, Ball Pool, Sports Equipments.
Amusement Equipments - Toy
Train, My Fair Lady, Roll Coaster, Space Ride, Tora-Tora, House Carasoul,
Caterpillar, Sky
Car, Kiddy Rides, Bumper Car, Striking Car, Coffee Cup.
Their products feature good design, exquisite materials and fine construction.
As a result, they have won unanimous favorable comments from both domestic and
foreign customers. During and after their production process, they have tight
QC session to have final and thorough checking. This ensures consistent quality
of their products. Their target is to establish a long-term friendly and
co-operative relationship with their partners.
By carrying forward the spirit of "Truth-Seeking,
Innovation, Quality and Creation", their products have received favorable
reviews from their customers. Their items are exported to
They have climbed up the ladder of success due to our
unswerving commitment and dedication. They endeavor to offer high quality
products that epitomize class and sophistication. The unmatched quality and timely
deliveries of their products have earned us a wide base of allegiant clients.
Their highly satisfied prestigious clients/customers have always appreciated
the uniqueness of their designs
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.40.90 |
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1 |
Rs.80.78 |
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Euro |
1 |
Rs.55.18 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
4 |
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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 |
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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44 |
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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