MIRA
INFORM REPORT
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Report Date : |
06.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
MNR STAR BEARING COMPANY |
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Registered Office : |
1/1068, Bara Bazar, Kashmere Gate, Delhi-110 006 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1950 |
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Legal Form : |
Partnership concern with an unlimited liability of the partners. |
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Line of Business : |
Manufacturer and Exporter of all types of Bearing |
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 : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established and reputed concern. Partner are reported as experienced and respectable businessman.
Trade relations are 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 : |
1/1068, Bara Bazar, Kashmere Gate, Delhi-110 006 |
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Tel. No.: |
91-11-23967135/ 23915454 |
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Mobile No.: |
91-9811008007 |
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Fax No.: |
91-11-23932782/ 25852534 |
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E-Mail : |
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Website : |
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Area : |
2000 sq. ft |
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Location : |
Owned |
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Head Office : |
Plot No. 496, Block No. 2, 24th Road, Khar, Mumbai-400 052 |
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Location : |
Owned |
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Corporate Office : |
S-5, S-6, 18/20, W.E.A. Arya Samaj Road, Karol Bagh, New Delhi-110 005 |
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Area : |
350 sq. mt |
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Location : |
Owned |
PARTNERS
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Name : |
Mr. Mahender Pal Singh Anand |
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Designation : |
Partner |
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Date of Birth/Age : |
47 years |
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Qualification : |
Graduate |
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Experience : |
23 years |
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Name : |
Mrs. Gurleen Kaur |
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Designation : |
Partner |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of all types of Bearing. |
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Products : |
Subject has been
selected as No. 1 Automotive SUPER BRAND since 1982. A ISO 9001:2000
Certificate Company
Manufactures
bearings
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Brand Names : |
MNR |
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Exports : |
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Products : |
All Products |
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Countries : |
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Imports : |
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Products : |
All Products |
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Countries : |
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Terms : |
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Selling : |
L/C, Cash/Credit |
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Purchasing : |
L/C, Cash/Credit |
PRODUCTION STATUS
Capacity to increase production by: 30%
GENERAL
INFORMATION
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Suppliers : |
Own manufacturing, purchase of raw material from open market |
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No. of Employees : |
45 |
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Bankers : |
Citi Bank, C.Place, New Delhi-110 001 Punjab National Bank, Patel Nager, New Delhi-110 008 Centurian Bank of Punjab, Patel Nagar, New Delhi-110 008 |
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Banking
Relations : |
Satisfactory |
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Memberships : |
APMA DMTA |
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Associates/Subsidiaries : |
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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 |
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31.03.2007 |
31.03.2006 |
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Sales Turnover |
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25.000 |
22.000 |
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Profit/Loss for the year |
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11% |
11% |
Expected Sales (2007-08) : Rs.30.000 Millions
LOCAL AGENCY
FURTHER INFORMATION
As per website:
Subject is one of the largest manufacturers and exporters of Bearings for various
segments ranging from Automobiles to Industrial Machinery. Incorporated in
1950, MNR Star Bearing concern is positioned today among India's prominent
engineering companies.
Subject has been selected as No.1 Automotive super brand
since 1982. Run by
professionals with over 50 years of experience, the company has grown at a
steady growth rate of 45%.
Subject
manufactures bearings for various segments like Commercial Vehicles (Heavy and
Light), Tractors/Combines/Thrashers and other Agricultural Equipments, Jeeps
and Matadors, Passenger Cars, Two and Three Wheelers, Diesel Engines, Steel
Rolling Mills, Cement Plants, Paper Mills, Electrical Motors and Pumps,
Fans/Exhausts Fans and many others.
Products
Its range of products include:
Taper Roller Bearings,
Ball Bearings, Cylindrical Bearings, Spherical Roller Bearings, Pillow Block
Bearings, Self Aligning & Angular Contact Ball Bearings, Thrust Bearings,
Steering Bearings, Clutch Bearings, King Pin Bearings, Water Pump Bearings,
Needle Bearings, Needle Roller Bearings, UCP Bearings (pillow block), Self
Aligning Ball Bearings, Angular Contact & Clutch Release Bearing, etc.
The
company with its head office located in Mumbai has strong infrastructure and
technological capabilities, which forms the strength of MNR STAR. It follows
stringent quality control measures at every stage right from the procurement of
the raw material and designing till the final stage of production. This helps
the company maintain a superb standard of quality throughout. Its quality
standards match the best in the business and are well accepted across the
globe. In recognition to the company's adherence to quality policies, it has
been accredited with the prestigious ISO 9001:2000 certificate.
The
company is equipped with in-house workshops and training programs for its
employees, which help it in making continuous improvements in the quality of
its products and enable it to achieve its ultimate goal of customer
satisfaction. With a
state-of-the-art production unit, highly trained workforce and a commitment to
customer satisfaction, the company provides on-time delivery of excellent
quality products and a host of after sales services.
Subject
- Specification
MATERIAL - Standard Rolling Bearing Steel
SAE 52100
HARDNESS - 58 TO 64 HRC (650 TO 800 HV)
SURFACE
FINISH - Ground and
Polished
TOLERANCE - Normal Class
For over 50 years, Anand Group of Companies, the parent group of MNR STAR, has
been leading the way in the automotive components industry. The associate concerns
of subject includes:
Federal Impex
RawelRaj Auto Industry & Trade Corporation
Anand Bearing International.
FEDERALIMPEX
Federal Impex, one of the leading export organizations, is your reliable source
for total solution to your bearings and automotive spares requirements from
India under one roof. Federal Impex has joined hands with many global units
creating a marketing hub for all automotive distribution.
Federal
Impex offers auto spares like Mountings, Oil Seals, Radiators, Nozzle Elements,
Speedometer, Clutch Cables, Brake Linings, Gaskets, Axle Shafts, Nuts &
Bolts, Washers, UJ Crosses, Auto Electrical Parts, Clutch and Brake Parts. etc.
Federal Impex imports Bearings & Auto Spares from China, Taiwan and USA and also
distributes them in India and the global market.
RAWELRAJ
AUTO INDUSTRY & TRADE CORPORATION
RawelRaj Auto Industry & Trade Corporation is a top notch manufacturer of
automotive spare parts that include cv joints, drive shafts, universal joint
kits, steering cross assemblies, special rubber parts, oil seals, wheel
spanners, steering worms, sector shafts and all kind of auto parts.
They manufacture custom built export size products as per your specific
requirements and dimensions as per samples. They are committed to deliver ready
material within 30 to 45 days.
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 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.39.34 |
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UK Pound |
1 |
Rs.82.66 |
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Euro |
1 |
Rs.57.57 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
8 |
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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 |
6 |
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--LEVERAGE |
1~10 |
6 |
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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 |
YES |
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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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50 |
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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