MIRA
INFORM REPORT
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Report Date : |
30.05.2007 |
IDENTIFICATION DETAILS
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Name : |
MAXTECH COMPNENTS |
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Registered Office : |
Plot No. PAD-D
18, TTC Industrial Area, MIDC Shirvane, Nerul, Navi Mumbai – 400 706, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1999 |
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Legal Form : |
Partnership Concern with an Unlimited Liability of the partners |
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Line of Business : |
Distributor and Importer of Electronic Components |
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 6000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
The concern’s main door remains closed due to renovation. Its
telephone line was dead for a long time. However, now we could ascertain, that subject is active and doing business.
Trade relations are fair. Payments are usually correct and as per
commitments. The concern can be considered normal for business dealings at usual
trade terms and conditions. The concern is talking with Optrex Corporation is |
LOCATIONS
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Registered Office : |
Plot No. PAD-D
18, TTC Industrial Area, MIDC Shirvane, Nerul, Navi Mumbai – 400 706, |
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Tel. No.: |
91-22-27680368 / 69 / 91-9820128982 |
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Fax No.: |
91-2-27680370 |
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E-Mail : |
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Website : |
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Area : |
2700sq.fts |
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Location : |
Owned by Mr.Bhavesh Joshi |
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Branches : |
10 Bq., Madan Building, 1st Floor, Above Goaguest House,
Tara Temple Lane, Dr. D. B. Marg (Lamination Road), Mumbai – 400007 |
PARTNERS
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Name : |
Mr. Bhavesh Joshi |
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Designation : |
Partner (90% partner) |
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Date of Birth/Age : |
40 Years |
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Qualification : |
Under Graduate |
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Experience : |
23 Years |
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Name : |
Mrs. Trupti Joshi |
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Designation : |
Partner (10% partner) |
BUSINESS DETAILS
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Line of Business : |
Distributor and Importer of Electronic Components |
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Agencies Held : |
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Gujarat Poly - Avx Electronic Limited ¨
Forge ¨
Coto Technology, The |
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Imports : |
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Products : |
Electronic Components |
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Countries : |
The |
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Terms : |
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Selling : |
Credit 30days to 90 days |
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Purchasing : |
Cash, Credit 30 days, Advance Payments |
GENERAL INFORMATION
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Customers : |
End Users, OEM’s |
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No. of Employees : |
7 (Office) |
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Bankers : |
ICICI Bank, Nerul, Navi Mumbai Bank of |
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Facilities : |
The concern do not enjoy facility from it’s bankers |
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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.1.500 millions |
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Borrowed : |
- |
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Total : |
Rs.1.500 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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14.500 |
14.000 |
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Expected Sales (2007-08) : Rs.40.000 millions
LOCAL AGENCY FURTHER INFORMATION
Trade References:
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Spectrum Solution and Systems Private Limited,
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Sahajanand
Technologies Private Limited,
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Voicetel Systems India Limited, Mumbai
Company Details:
Subject is one of the qualities Electronic
Component Distributor, and stands as preferred source of Reliable Electronic Component Supplier in the industry.
Apart from their authorized distribution line, also offering active and passive
components like connector, capacitor, ICs, Micro controllers, Transistors,
diodes, power devices,
Graphic LCDs, Colour & Mono) Character LCDs, Pushbutton
switches, available ex-stock or with minimum lead time
Subject
established in the year 1999. They are one of the fastest growing organizations
in distribution of electronic components, based in Mumbai. They maintain wide
range of latest technology to hard-to-find electronic components as their
inventory and supply at competitive prices on time. They also provide kitting
services from various component manufacturers across the globe.
Having
more than 10 years in-depth knowledge in component market, subject provides
comprehensive and reliable services to their partners which distinguish them
from their competitors.
Subject
has a strong supplier base in which their direct sourcing networks and
strategic partners extend to Pacific Asia, Europe & USA.
Their
Mumbai office can help you manage your inventory effectively package and bar
code your products prior to delivery. They use an advanced order entry and
logistics control system, and an order tracking system that guarantees your
products will be delivered on time, every time.
They
are specialized in rendering value added services to various facets of
industry. The main industries benefit their services are Automotive, Consumer,
Medical, Process Controls & Automation, access control systems, & Telecom
etc.
Line Card:
Coto Technology
Subject is the authorized distributors world class
Reed Relay and Reed Switch products, manufactured by
Forge Europa
Subject is also authorized distributors of Forge
Subject are the
distributors of vide range of MLCCs, MOVs manufactured by GUJARAT POLY AVX
LIMITED,
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.40.45 |
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1 |
Rs.80.30 |
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Euro |
1 |
Rs.54.37 |
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 |
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 |
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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