MIRA
INFORM REPORT
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Report Date : |
15.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
SWASTIK FASTENERS |
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Registered Office : |
45, Digvijay Plot, Near Oswal School, Jamnagar – 361 005, Gujarat |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1992 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer and Exporter of Brass Components and Brass Fasteners |
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. Proprietor is
experienced and respectable. 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 : |
45, Digvijay Plot, Near Oswal School, Jamnagar – 361 005, Gujarat,
India |
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Tel. No.: |
91-288-3291310 |
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Mobile No.: |
91-9426442244 |
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Fax No.: |
91-288-2557879 |
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E-Mail : |
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Website : |
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Area : |
2700 sq. ft. |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Manish K Shah |
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Designation : |
Proprietor |
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Date of Birth/Age : |
39 years |
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Qualification : |
Graduate |
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Experience : |
18 years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Brass Components and Brass Fasteners |
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Products : |
v Brass Components v Brass Fasteners |
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Exports : |
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Products : |
v Brass Components v Brass Fasteners |
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Countries : |
v Europe v Sri Lanka v Middle East |
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Terms : |
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Selling : |
L/C, Cash or Credit ( 15 Days ) |
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Purchasing : |
Cash |
GENERAL
INFORMATION
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Customers : |
v OEM’s |
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No. of Employees : |
18 |
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Bankers : |
v HDFC Bank,
Jamnagar Branch |
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Banking
Relations : |
Satisfactory |
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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15.000 |
8.000 |
Expected Sales (2007-08) : Rs. 20.000 Millions
LOCAL AGENCY
FURTHER INFORMATION
Trade References:
v
Gem Tailor Gone Switch Gears Private Limited
v
Vetal Electronics and Components Private Limited
Website Details
Attached:
They are Manufacturers and exporters of highly precision Brass Electrical & Electronics Parts, Brass Knurling Inserts, Neutral Links, Brass Anchors, Nuts, Bolts, Screws, Washers, sanitary parts and other special Brass Components required by electrical & electronics, engineering and automobile industry. They work in Brass and Copper alloys. They can improve your profit opportunities if you are already buying from India; if you are not, then you are missing out on a very lucrative supply source.
They were established in 1992 with the main product as Machine Screws. Slowly and gradually many items has been added and the above list is of products is by no means exhaustive. Being a dynamic group we are always keen on adding new products to our range. Though their customers are fully satisfied with all the products they deal in, they specialize themselves in BRASS ELECTRICAL PARTS, BRASS FASTENERS, BRASS ANCHORS, BRASS KNURLING INSERTS & BRASS Neutral Links.
They believe in manufacturing quality products required by industry in specialized field. The policy of their company, which has won applause of many big industrial houses are,
v STICKING TO DELIVERY SCHEDULE.
v CHARGING REASONABLE COST.
v SUPPLYING ONLY QUALITY PRODUCTS.
In fact, customer satisfaction with regard to cost, quality and meticulous delivery schedule are the motivating factors for them. And the best thing behind this is that every individual of the company is actively participating to achieve it.
Besides, being located in a city having industrial background, facilities and input required like raw material, man power, technical know-how, plating etc. are easily available which has helped them to serve their esteemed customers in a better way.
Products:
v
Screws
v
Nuts
v
Bolts
v
Washers
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Special Brass, Mild Steel and
Stainless Steel Components
Swastik Fasteners - Manufacturer and exporter of various types of brass parts including screws, nuts, bolts, Washers, studs / rods, plug pins, neutral links, pump parts, moulding nuts, connectors and sanitary parts. They also offer special brass, mild steel and stainless steel components. They offer screws, bolts, nuts, and studs / rods made from stainless steel or brass. They work in mild steel, hi– tensile, stainless steel, brass and copper alloys. They offer moulding nuts with diamond, straight and unidirectional knurling. They also offer hexagonal nuts and square nuts as per customer's requirements. Neutral links are available with natural, nickle plated or tin plated finish.
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 |
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 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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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 |
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 |
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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