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MIRA
INFORM REPORT
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Report Date : |
12.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
POLO SINGH AND COMPANY (INDUSTRY) |
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Registered Office : |
11-12, Amar Park, Zakhira, New Rohtak Road, New Delhi – 110 035, India
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1967 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELP02337G |
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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 Fasteners Machines. |
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 32000 |
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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. Partners are
reported as experienced and respectable businessmen. Trade relations are
fair. Business is active. Payments are reported as 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 : |
11-12, Amar Park, Zakhira, New Rohtak Road, New Delhi – 110 035, India
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Tel. No.: |
91-11-25105609 / 65282963 |
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Mobile No.: |
91-9818020888 / 9811800911 / 9818608844 |
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Fax No.: |
91-11-25105608 / 28311405 / 25442571 |
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E-Mail : |
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Website : |
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Area : |
1800 sq.mtrs |
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Location : |
Owned |
PARTNERS
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Name : |
Mr. Sarjeet Singh |
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Designation : |
Partner |
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Date of Birth/Age : |
56 years |
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Qualification : |
Graduate |
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Experience : |
34 years |
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Name : |
Mr. Harbinder Singh |
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Designation : |
Partner |
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Date of Birth/Age : |
54 years |
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Qualification : |
Graduate |
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Experience : |
32 years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Fasteners Machines. |
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Products : |
· Bolt Former · Nut Former · Part Former · Taper Roller Machine · Double Stroke Cold Heading Machine · Automatic Trimming Machine · Automatic Threading Machine · Allied Machine · Cold Forged Components |
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Exports : |
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Countries : |
Saudi Arabia, Middle East,
African |
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Imports : |
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Products : |
Second hand Machines |
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Countries : |
USA, England, Italy, Germany |
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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 35%
GENERAL
INFORMATION
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Suppliers : |
Own manufacturing and purchase second hand machines in auction from
USA, England, Italy and Germany |
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Customers : |
· LPS Limited · Sterling Tools limited · Kundan Fasteners Limited · Hindustan Fasteners · Agarwal Fasteners · Super Screw Limited |
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No. of Employees : |
85 |
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Bankers : |
· Punjab and Sind Bank Address: Paharganj, New Delhi – 110 055 · ICICI Limited Address: Karol Bagh, New Delhi - 110 055 |
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Facilities : |
Loan of Rs. 10.000 millions
(from ICICI Bank Limited) |
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Banking
Relations : |
Satisfactory |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 8.000 millions |
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Borrowed : |
--- |
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Total : |
Rs.8.000 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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65.000 |
60.000 |
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Profit/Loss for the year |
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11% |
11% |
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Export Value |
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5% |
NA |
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Import Value |
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25% |
NA |
Expected Sales (2007-08): Rs.75.000 millions
LOCAL AGENCY
FURTHER INFORMATION
WEBSITE DETAILS:
Their experience helps them to retain the most reputed chair
in the area of nut and bolts forming....
Globalization
undoubtedly opens new horizons for every business enterprise but also promotes
the culture of consumerism, where consumer has the authority to accept products
from the global market. Only a leader is capable of surviving in this
environment. The concern is one
of the distinguished names aware of the art of satisfying consumers in a much
better way. The business entity is engaged in manufacturing, exporting
and importing of unmatched solutions such as bolt formers, nut formers, part
former, tapper roller machine and allied machines etc.
They are
professionally managed by highly qualified brains possessing valuable knowledge
in the same discipline. Since 1967, their persistently rising catalog is itself
explaining the quality worth of their products. They always employ the finest
raw material purchased from the most reputed names in order to gift their
prestigious clients with unmatched products.
Product Range
They, at the
concern, offer an array of prominent
products such as:
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Bolt Former
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Nut Former
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Part Former
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Taper Roller Machine
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Double Stroke Cold Heading Machine
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Automatic Trimming Machine
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Automatic Threading Machine
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Allied Machines
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Cold Forged Components
Quality Assurance
Quality is the most
important factor that they consider while manufacturing every item. Each item
is manufactured by employing ultra-modern machinery under experts’ supervision,
complying to rigorous quality control procedures. Their testing facility
comprises of latest machinery and qualified personnel competent enough to
nullify every single attempt on quality degradation. The finished products are
assembled and thoroughly monitored by competent authorities, thus facilitating
movement of only excellent products. They have supplied more than 1500
machineries, in both the global as well as domestic arena which proudly states
their hold on the most reputed chair in the trade of similar goods. Their
import of multi-stage bolt formers come from well reputed names such as
National, Malmedie, Chunzu, Snow, Sakamura, etc. Moreover, one year guarantee
and after sale service provide them an additional edge over other competitors
in the same arena.
Infrastructure
Subject is fully
loaded with the weapons of standardized machinery and a strong army of highly
qualified professionals to manufacture unparalleled products in the same arena.
Their experienced and highly competent personnel are capable enough to observe
the changing trends and accordingly deliver magnificent solutions to the
prestigious clients. They possess good storage and warehousing facility that
helps them to feed their bulk demand. Their testing facility has modern
machinery setup where every finished product is thoroughly monitored by
experienced professionals.
Esteemed Clients
Their catalog of
prestigious clients includes majors like:
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LPS Limited
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Sterling Tools Limited
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Kundan Fastensrs Limited
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Hindustan Fasteners
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Agarwal fasteners
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Super screw Limited
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.39.33 |
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UK Pound |
1 |
Rs.81.70 |
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Euro |
1 |
Rs.57.67 |
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 |
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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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/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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