MIRA
INFORM REPORT
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Report Date : |
20.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
GLOBAL TRADING |
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Registered Office : |
D-163/142, Focal Point Extension, Jalandhar -144004, Punjab |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
2005 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
JLDG03388A |
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PAN No.: [Permanent
Account No.] |
AAFFG5343K |
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Legal Form : |
Partnership concern with an unlimited liability of the partners |
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Line of Business : |
Manufacturers and Exporters of all kinds of Hand Tools and Specialist
in all kind of Spanners. |
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 22000 |
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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 a well established concern having satisfactory track. Trade
relations are fair. Payments re 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 / Factory : |
D-163/142, Focal Point Extension, Jalandhar -144004, Punjab, India |
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Tel. No.: |
91-181-5081158 / 5011159 |
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Mobile No.: |
91-9815555717 / 9815061883 |
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Fax No.: |
91-181-2601909 |
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E-Mail : |
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Website : |
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Area : |
2500 sq.yds - Owned |
PARTNERS
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Name : |
Mr. Ashok Kumar |
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Designation : |
Partner |
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Address : |
Jalandhar |
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Date of Birth/Age : |
41 Years |
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Qualification : |
Graduate |
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Experience : |
15 Years |
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Name : |
Mr. Ashwinder Singh |
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Designation : |
Partner |
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Address : |
Jalandhar |
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Date of Birth/Age : |
30 Years |
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Qualification : |
Graduate |
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Experience : |
5 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturers and Exporters of all kinds of Hand Tools and Specialist
in all kind of Spanners. |
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Products : |
-
Combination
Spanner -
Combination
Spanner Elliptical Type -
Double
Open End Spanner -
Ring
Spanner -
Four
Way Cross Wheel Spanner
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Exports : |
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Products : |
Hand Tools |
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Countries : |
Russia and UAE |
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Terms : |
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Selling : |
Credit [30 days] |
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Purchasing : |
L/C, Cash, Credit [30 days] and at Sight |
GENERAL
INFORMATION
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Customers : |
Retailers |
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No. of Employees : |
201 [In office : 16 and In Factory : 185] |
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Bankers : |
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Facilities : |
Credit Limit Rs. 3.500 Millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Anil Sikka and Associates |
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Address : |
Jalandhar |
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Memberships : |
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Associates/Subsidiaries : |
ATM Forgings, Focal Point Extension, Jalandhar |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 5.500 Millions |
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Borrowed : |
-- |
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Total : |
Rs. 5.500 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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35.000 |
24.600 |
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Profit/Loss for the year |
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2.250 |
1.220 |
Expected Sales (2007-08) : Rs.40.000 Millions
LOCAL AGENCY FURTHER
INFORMATION
TRADE REFERENCES –
LOCAL
- Al-Hayala
Trading Company - Dubai
- Pointer Tools
Moscow
- Marakish
Building Material Trading Company, Dubai
AS PER WEBSITE
Profile
A well
equipped tool room finds paramount importance in every manufacturing unit,
since the smooth running of the machinery depends on it. The company is a
renowned manufacturer and
exporter of high quality hand tools, all kinds of spanners & wrenches. Incorporated in the year 1995,
the company has carved a niche for itself in today's competitive scenario by
offering world class products at very economical prices. Their impeccable
quality, higher durability and efficiency has helped them to gain a remarkable
market share in a very short span of time.
They follow
stringent quality control measures at every stage of their manufacturing
process that facilitates smooth and efficient production from the same. Their
wide distribution network and spacious warehouse provide them the capability to
feed even the bulk demand in the shortest possible time frame. They take great
pride in realising that their products have set the standards for performance
and reliability all around the globe. The company is a regular member of
Engineering Export Promotion Council and NICL.
Quality
Assurance
Quality
has been the paramount objective since their inception. ATM Forgings strictly
adheres to stringent quality control procedures right from the selection of raw
materials to the shipment of finished products. The finest quality of steel,
alloy & non-alloy steel is used for the manufacturing process, being
sourced from reputed agents. They employ the latest ultra modern machines in
their process to manufacture accurate and international quality products. Moreover,
every outgoing item is thoroughly inspected by their diligent quality
inspectors for its reliability and performance.
Client
Satisfaction
They are working
with the only motto of providing world class hand tools at the most reasonable
prices to their valued clients. Their client oriented approaches and ethical
trade practices are admired by their business associates.
Infrastructure
They boast of an
outstanding infrastructural ability comprising of the latest machines and well
trained workforce to manufacture higher grade solutions to their valued
clients. Their unit employs the latest machines at every level of its operation
that facilitates an error free production from each stage.
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.39.41 |
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UK Pound |
1 |
Rs.81.37 |
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Euro |
1 |
Rs.58.56 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
4 |
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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 |
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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44 |
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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