MIRA
INFORM REPORT
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Report Date : |
05.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
RAC EXPORTS |
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Registered Office : |
14 Pooja Vihar, Science House, Kardhan Road, Ambala – 133 001, Haryana |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1957 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Traders, Manufacturers and Exporters of Scientific Equipments |
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 8000 |
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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 an established concern having satisfactory track. 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. |
LOCATIONS
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Registered Office : |
14 Pooja Vihar, Science House, Kardhan Road, Ambala – 133 001,
Haryana, India |
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Tel. No.: |
91-171-3293762 |
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Mobile No.: |
91-9315100690 |
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Fax No.: |
91-171-2699559 |
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E-Mail : |
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Website : |
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Area : |
250 sq. mts. |
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Location : |
Owned |
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Factory 1 : |
23 Arya Nagar, jagadhari Road, Ambala Cantt – 133 001, Haryana, India |
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Area : |
2100 sq. mtrs. |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Chaitanya Aggarwal |
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Designation : |
Proprietor |
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Date of Birth/Age : |
34 years |
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Qualification : |
Graduate |
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Experience : |
17 years |
BUSINESS DETAILS
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Line of Business : |
Traders, Manufacturers and Exporters of Scientific Equipments |
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Products : |
Scientific Equipments |
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Exports : |
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Products : |
Scientific Equipments |
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Countries : |
v Italy v Germany v Malaysia v Greece v Nigeria v Saudi Arabia v Australia v Belgium v Singapore |
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Terms : |
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Selling : |
L/C,Cash or Credit |
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Purchasing : |
L/C, Cash or Credit ( 60 days), Sight |
PRODUCTION STATUS
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Particulars |
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Actual
Production |
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Scientific Equipments |
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As per demand |
GENERAL
INFORMATION
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Customers : |
Local Customers and End Users |
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No. of Employees : |
65 |
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Bankers : |
v Punjab National
Bank
Ambala, Haryana, India v Citi Bank
Chandigarh, Punjab, India |
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Facilities : |
Rs. 1.200 Millions ( Punjab National Bank ) |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Gandhi Manocha and Company Chartered Accountants |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 2.000 Millions |
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Borrowed : |
- |
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Total : |
Rs. 2.000 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 |
12.000 |
9.700 |
8.600 |
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Profit/Loss for the year |
0.875 |
0.709 |
0.550 |
LOCAL AGENCY
FURTHER INFORMATION
Trade References:
v
CIP – RANCHI
v
BIOMED INSTRUMENTATION, KOLKATA
v
ONEWORLD COMPANY, KUWAIT
v
QANOT INC. TASKAND
WEBSITE DETAILS
ATTACHED:
They feel pleasure to introduce themselves as one of the leading Manufacturers and Exporters of: Scientific,
Electronic, Medical, Analytical instruments and equipments, Laboratory Glassware, Surgical disposable and
Chemicals. Equipped with latest precision machinery and skilled workers we are specialists in manufacturing.
Scientific Laboratory Pratical &
Research Instruments:
Spectrometers, Spectrophotometers, Polarimeters, Scherimeters, Centrifuge machines, Moisture
Meters,Punching Needle Laminar flow, Hand & abbe refractometers ,Magnetic stirrer, Hot Plates,
laboratorystirrers, Gelelectrophoresis app, Rotary vaccum film evaporators, Vaccum pumps, Water & soil analysis
kits, Rheostats.
Surveying Instruments : Mirror stereoscopes, pocket clinometers, Speigel relascopes, Sextant (Brass), Brass
telescopes. etc.
Electronics : Electromagnetism , Transformers ,Diode ,Triode, Tetrode, Pentode, characteristics Ph meters,
Liner IC tester, Power supplies, Photocells, Oscillators, Logic-trainers, Circuit Boards, Demonstration meters,
Spectrum discharge tubes, Vaccum tubes.etc.
Laboratory Equipment(pharmeceutical) : such as hot Extraction (soxhlet) equipment, Tablet making machine,
Conical percolators, Motor driven disintigerator, Table hardness tester, Tincture press, Collapisble Tube filling
machine. etc.
Overhead projector, OHP Transperiencies and slide projector films. Some of the items manufactured by them
v TEST AND MEASURING INSTRUMENTS:
v WEIGHING MACHINES.
v SURGICAL AND MEDICAL DISPOSABLES.
v HOME APPLIANCES.
v LABORATORY GLASSWARES.
v PORCELAIN WARES.
v MICROSCOPES
Subject (previously Electrofones) is having a experience of more than four
decades in Manufacturing. What has changed is the range of products. They have
introduced over time to serve every need in industry. What hasn’t changed is
their commitment to precision. Precision quality and a firm belief in perfection
has resulted in constant
Upgradation of technology and expansion of the existing production facilities to meet changing and existing demands
Since its inception they have earned a name for precision, reliability and top performance in the international
markets. Support and loyalty from their customers has provided a solid foundation for the business which has
developed an enviable portfolio of quality products to
supply the challenging needs of domestic and international markets.
They have a long list of satisfied
Customers in:
Malaysia, Greece, Singapore, Italy, Germany, Nigeria,
Australia Bangladesh, Egypt, Belgium, Saudi Arabia, Jordan, U.S.A Etc.
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 |
Rs. 81.82 |
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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 |
5 |
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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 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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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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45 |
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. |
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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