MIRA
INFORM REPORT
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Report Date : |
01.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
SHAH ELECTRONICS |
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Registered Office : |
A/3, Manohar Villa, New Naroda Nicol Near Naroda Canal, Nicol Ahmedabad 382325
Gujarat |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1976 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturers and Exporters of all types of ferrite coils and wide
range of Electrical Products |
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 20000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established concern having satisfactory track. The
concern is doing well. It’s trade relations are fair. Payments are reported
as 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 : |
A/3, Manohar Villa, New Naroda Nicol Near Naroda Canal, Nicol Ahmedabad 382325
Gujarat, India |
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Tel. No.: |
91-79-22820421/22813396 |
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Fax No.: |
91-79-22820423 |
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E-Mail : |
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Area : |
1200sq.mts |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Hitesh Shah |
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Designation : |
Proprietor |
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Date of Birth/Age : |
50 Years |
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Qualification : |
Graduate(BSC-LLB) |
BUSINESS DETAILS
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Line of Business : |
Manufacturers and Exporters of all types of ferrite coils and wide range
of Electrical Products |
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Products : |
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Exports : |
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Products : |
All Products |
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Countries : |
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Terms : |
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Selling : |
Against payment / Advance remittance |
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Purchasing : |
Cash and Credit |
GENERAL
INFORMATION
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Customers : |
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No. of Employees : |
125 |
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Bankers : |
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Facilities : |
-- |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Paresh Shah Chartered Accountants |
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Address : |
Ahmedabad |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.5.000 Millions |
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Borrowed : |
- |
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Total : |
Rs.5.000 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
31.03.2007 |
31.03.2006 |
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Sales Turnover |
80.000 |
60.000 |
Expected Sales (2007-08) : Rs. 160.000 millions
LOCAL AGENCY
FURTHER INFORMATION
HISTORY:
Subject had begun its journey with TV industry in 1976 by
supplying ferrite and deflection components to Crown Tv, thereafter to
Videocon, BPL, Onida etc. Subject has always kept its fundamentals tight &
with a break through got grand achievement in Ferrite Coil industry.
In 1997 Shah electronics made break through Ferrite coil industry with its of
components, continuous R&D & started supply to Jaipur metal, Genus
overseas, Jaipur EMCO, DUCKONIX, Aveniar, India Meters etc.
In early 2002, they started working in power saving products
like electronic ballast & CFL adaptors. Gradually entered in manufacturing
the lighting fixtures for tubes. Subject piggy backed all its new products with
its core product and upplied them through out with its network.
By 2003, they completed whole lighting range from
Electronics coils to various Electronics ballast, Cfl adaptors and Lighting
fixtures.
MISSION :
- To achieve & sustain Quality of the product continuously.
- To create in confidence in its own management .
- To provide and to create confidence in them.
PROFILE:
Subject manufactures & exports all types of ferrite coils & wide
range of electrical products in power saving products during three decades.
Subject caters to electronics & electrical industries in various applications
like Industrial lighting, Emergency Lights, Flash Lights, Gas Lighters,
Television, Buzzers, Halogen, etc.
Subject is a team of more than 100 skilled and experienced employees striving
to provide total quality products and services to its valued customers in a
Fast, Friendly and Professional manner at competitive rates.
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.39.37 |
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UK Pound |
1 |
Rs81.82 |
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Euro |
1 |
Rs.56.83 |
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 |
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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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
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |