MIRA
INFORM REPORT
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Report Date : |
20.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
NARAYAN INDUSTRIES |
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Registered Office : |
3 and 4, Sagar Industrial Estate, W E Highway, Near Toll Naka, Dahisar
( East), Mumbai – 400 068, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1999 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Exporters and Manufacturers of Tapping Screws, Screws, Rivets and
Bolts etc. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 200 |
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Status : |
Small Concern |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively small concern. Proprietor is reported as
experienced and respectable businessman. Trade relations are reported as fair.
Payments are reported as slow but correct. The concern can be considered for small to mediocre business dealings
with slight caution, initially. |
LOCATIONS
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Registered Office : |
3 and 4, Sagar Industrial Estate, W E Highway, Near Toll Naka, Dahisar
( East), Mumbai – 400 068, Maharashtra, India |
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Tel. No.: |
91-22-28966643/ 28960249 |
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Mobile No.: |
91-9869071060 |
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Fax No.: |
91-22-28962639 |
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E-Mail : |
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Website : |
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Area : |
1400 sq. ft. |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Ghanshyam Thoria |
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Designation : |
Proprietor |
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Date of Birth/Age : |
53 years |
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Qualification : |
Graduate |
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Experience : |
35 years |
BUSINESS DETAILS
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Line of Business : |
Exporters and Manufacturers of Tapping Screws, Screws, Rivets and
Bolts etc. |
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Products : |
Tapping Screws, Screws, Rivets and Bolts etc. |
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Exports: |
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Country: |
v Africa v Europe v Malaysia v Gulf |
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Agencies Held : |
v Parshwa
Industries, Taloja |
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Terms : |
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Selling : |
Credit – ( 30 to 45 days ) |
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Purchasing : |
Credit – ( 30 to 45 days ) |
GENERAL
INFORMATION
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Customers : |
Direct Users |
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No. of Employees : |
25 |
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Bankers : |
Development Credit Bank, Dahisar Branch, Mumbai, Maharashtra, India |
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Auditors : |
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Name : |
Hemant H Parmar and Company Chartered Accountants |
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Address : |
Dahanu, Mumbai, Maharashtra, India |
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Associates/Subsidiaries : |
Nilkanth Fastener Industries Dahisar, Mumbai, Maharashtra, India Line of Business: Manufacturer |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 0.050 Million |
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Borrowed : |
- |
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Total : |
Rs. 0.050 Million |
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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9.500 |
7.500 |
Expected Sales (2007-08) : Rs. 12.500 Millions
LOCAL AGENCY
FURTHER INFORMATION
Trade References:
v
VIP Industries Limited
v
Eristo Carate Private Limited
Website Details
Attached:
Mumbai based concern is a reputed manufacturer and exporter of all types of Tapping Screws, Screws, Rivets, Bolts etc. The concern incepted in 1981 uses its years of experience as well as the recent innovative technologies to manufacture its wide gamut Tapping Screws, Screws, Rivets, Bolts etc as per the standard specifications and requirements of its esteemed customers.
Being in the field over for two decades, they at subject are well aware of the importance of quality as well as of technology. With the adoption of the TQM system, they have been successful in exercising full quality control at all level of the manufacturing process right from the selection of the raw materials to their final production and packing stage.
At Narayan Industries, they use the latest sophisticated machineries such as Micrometer, Vernier, Thread Checking Ring Gauges, Go and Not Go to manufacture our range of Tapping Screws, Screws, Rivets, Bolts etc. Besides, their team of engineers use the latest softwares to design and test their products for quality and functionality.
Today, subject stands at the threshold of an exciting future. Their commitment to customer satisfaction through quality and on time delivery services has made made them the preferred partner of many industries and companies. They currently export their products to the markets of Africa, Europe, Malaysia & Gulf.
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. 39.29 |
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UK Pound |
1 |
Rs. 80.72 |
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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 |
3 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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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 |
NO |
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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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27 |
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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