MIRA
INFORM REPORT
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Report Date : |
19.05.2007 |
IDENTIFICATION DETAILS
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Name : |
YVE INDUSTRIAL AND TRADING COMPANY |
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Registered Office : |
8 – B, Steelmade Industrial Estate, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
1962 |
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Legal Form : |
Partnership concern with an unlimited liability of the partners. |
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Line of Business : |
Manufacture of Locks for doors. |
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 40000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well – established manufacturer and supplier of locks for construction and hotel industry. Partners are qualified, experienced and respectable businessmen. Their trade relations are fair. Payments are correct and as per commitments. The concern can be considered normal for business dealings at usual trade terms and conditions. It represents Tazllares de Escoriaza, S. A. for electronic locks but no business has been materialized. |
LOCATIONS
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Registered Office : |
8 – B, Steelmade Industrial Estate, |
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Tel. No.: |
91-22-29201918 / 66923920 |
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Fax No.: |
91-22-29203492 |
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E-Mail : |
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Website : |
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Area : |
4000 Sq. fts. |
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Location : |
Owned |
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Branch 1: |
Pune |
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Tel. No.: |
91-20-24443603 |
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Branch 2 : |
Chennai |
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Tel. No.: |
91-44-24843014 |
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Branch 3 : |
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Tel. No.: |
91-832-2512444 |
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Branch 4 : |
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Tel. No.: |
91-484-2336973 |
PARTNERS
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Name : |
Mr. Keith Shenoy |
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Designation : |
Partner |
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Date of Birth/Age : |
46 Years |
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Qualification : |
Graduate |
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Experience : |
26 Years |
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Name : |
Mrs. J. Shenoy |
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Designation : |
Partner |
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Date of Birth/Age : |
44 Years |
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Qualification : |
Graduate |
BUSINESS DETAILS
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Line of Business : |
Manufacture of Locks for doors. |
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Products : |
‘Sobeet Locks’ |
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Terms : |
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Selling : |
Cash & Credit (30 to 60 days) |
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Purchasing : |
Cash & Credit (30 to 60 days) |
GENERAL INFORMATION
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Customers : |
OEM’s and Projects |
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No. of Employees : |
40 |
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Bankers : |
Citizen Credit Cooperative Bank, Khar, Mumbai – 400052, |
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Facilities : |
The concern enjoys cash credit facility of Rs. 5.000 Millions from its bankers. |
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Banking
Relations : |
Satisfactory |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 5.000 millions |
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Borrowed : |
Rs. 5.000 Millions |
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Total : |
Rs. 10.000 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
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Particulars |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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Sales Turnover |
24.000 |
25.000 |
23.000 |
LOCAL AGENCY FURTHER INFORMATION
Website details Attached:
This visionary enterprise was born out of the dream of Henry
V. Lasrado, their founder, in the year 1979.
Safety and
Security of humankind was his concern and continues to be the raison d’ętre of
their business.
Creating
high-security locks, built to international standards of quality, is the focus
of their business enterprise. We are manufacturer of master keyed locks,
manufacturer of mortise locks, manufacturer of hotel locks, night latch
manufacturer, and dead bolts manufacturer.
Their range
suitable for residences, institutions, hotels, hospitals, offices and
commercial spaces, endeavors to give the customer convenience in terms of
handling and confidence to know that when you use SOBEET, you can rest safe and
sound.
The pioneers of
pin-tubular technology in
They proudly
introduce theirselves as:
- manufacturer
of master keyed locks
- manufacturer
of mortise locks
- manufacturer
of hotel locks
- night
latch manufacturer
- dead
bolts manufacturer
Commitment
- To ensure security, confidence and peace of mind for every concern user.
- To give the customer a product that matches international design, quality and
excellence at competitive prices.
- To treat each customer’s needs as individual and special
.
- To constantly upgrade their product line in keeping with technology and human
progress.
- To carry forward the Indian spirit of innovation and entrepreneurship.
v
To be
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To produce world class locks.
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To have a production facility with state-of- the- art
manufacturing equipment.
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To deliver on Quality, Precision, Service and Customization.
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To provide their users, durable, reliable, sustainable technology
through their range of products.
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To constantly upgrade their products and services to suit the
social needs of a community regarding safety and security and work towards
addressing those needs.
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To embrace only the best business practices with regard to
manufacture and the running of our enterprise.
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To be fair with the peoples that makes up the family of Sobeet
–their employees, suppliers, dealers, distributors and customers.
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To honour their financial commitments to all their partners-
suppliers, dealers etc.
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To help their suppliers upgrade and grow with them.
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To streamline and develop their policies with regard to human
resources, manufacture, purchase, vendor development, sales and marketing,
finance.
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To be a profitable business.
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To pay their employees good wages and add to their quality of
life.
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To be a company that delivers value far beyond monetary
considerations and what can be measured, namely peace of mind and security.
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To give back to the community in which we exist.
Client List:
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A N
Group |
Bandra,
Mumbai |
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Ambica
Constructions |
Malad,
Mumbai |
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Ajmera
Development Corporation |
Versova,
Mumbai |
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B.E.
Billimoria & Co. Pvt. Ltd
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Churchgate,
Mumbai. |
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Bharwani
Brothers |
Nariman
Point, Mumbai. |
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B
Rahejas |
Santacruz,
Mumbai. |
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Charisma
Builders |
Chembur,
Mumbai. |
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Correa
Constructions |
Bandra,
Mumbai. |
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Cozy
Home Builders |
Bandra,
Mumbai. |
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D. D.
Patel & Co |
Ghatkopar,
Mumbai. |
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Dattani
Constructions |
Kandivali,
Mumbai. |
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Deshmukh
Builders |
Santacruz,
Mumbai. |
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Dipti
Builders |
Dadar,
Mumbai. |
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Dheeraj
Group |
Jogeshwari,
Mumbai |
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Essar
Properties Ltd |
Mahalaxmi,
Mumbai |
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Evershine
Builders |
Vasai
& Bandra, Mumbai. |
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K.
Raheja Developers |
Khar,
Mumbai. |
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K.
Ravi Builders |
Kandivali,
Mumbai |
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Kalpataru
Constructions |
Nariman
Point, Mumbai. |
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Kanakia
Constructions |
Kandivali,
Mumbai |
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Malpani
Constructions |
Borivali,
Mumbai. |
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Manish
Construction |
Goregoan,
Mumbai. |
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Oscar
Builders |
Khar,
Mumbai |
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Parasrampuria
Constructions |
Nariman
Point, Mumbai. |
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Perreira
Builders |
Bandra,
Mumbai |
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Prem
Khotari & Associates |
Fort,
Mumbai |
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Vijay
Wadhwa |
Bandra,
Mumbai |
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Vinod
Jaising |
Vile
Parle, Mumbai. |
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Vora
Builders |
Borivali,
Mumbai |
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Wadhwa
Constructions |
Bandra,
Mumbai |
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Wadhwani
Constructions |
Santacruz,
Mumbai |
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Wescon
Properties |
Nariman
Point, Mumbai |
Profile:
Subject opens
the door to guests in
As
manufacturers of pin-cylinder locks, subject offers the user a range of mortise
and master-keyed locks that were earlier imported. In fact concerns hotel lock
was identified as an import substitution product when the company first
launched out into locks in1976.
With more than
300 hotel projects secured in
In the area of
electronic locks, subject is the appointed distributor of Saflok in
Backed by
several years of engineering expertise, subject is the inheritor of a tradition
of professionalism and superior craftsmanship... for guaranteed customer
satisfaction.
·
To ensure security, confidence and thus peace of mind for every
user.
·
To give the customer a product that matches international design, quality
and excellence at competitive prices.
·
To treat each customer's needs as individual and special
·
To constantly upgrade our product line in keeping with technology
and human progress.
·
To carry forward the Indian spirit of innovation and enterpreneurship.
Memberships:
Engineering
Export Promotion Council
All
Hotels:
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Hotels |
No. Of Projects |
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Gateway Hotels & Gateway Resorts Ltd. |
4 |
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Holiday Inn Group Of Hotels |
7 |
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Itdc
Group Of Hotels |
8 |
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Welcomgroup Of Hotels |
10 |
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Mahindra Holidays & Resorts Pvt. Ltd. |
5 |
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Mansingh Group |
2 |
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Nirulas Group Of Hotels |
2 |
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Ramanashree Hotels Ltd |
4 |
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Sterling Resorts |
8 |
Clients:
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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 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. 40.60 |
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1 |
Rs. 80.13 |
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Euro |
1 |
Rs. 54.87 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
6 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
6 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
6 |
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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 |
NO |
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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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54 |
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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