MIRA
INFORM REPORT
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Report Date : |
03.10.2007 |
IDENTIFICATION DETAILS
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Name : |
CAIRE CONSULT |
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Registered Office : |
B – 23 A, Udyog Kendra, Extension 1, Noida – 201 308, Uttar Pradesh |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1977 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturers, Exporter and Trader of Fire Fighting Equipments, Air Distribution,
Air Terminals for Air Conditioning, Variable Air Volume Units. |
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 16000 |
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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 having satisfactory track. Proprietor is
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/ Factory : |
B – 23 A, Udyog Kendra, Extension 1, Noida – 201 308, |
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Tel. No.: |
91-120-2350450 |
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Mobile No.: |
91-9810048450 |
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Fax No.: |
91-120-2350450 |
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E-Mail : |
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Area : |
1200 sq. meters |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Ajit Jain |
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Designation : |
Sole Proprietor |
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Date of Birth/Age : |
47 Years |
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Qualification : |
Post Graduate |
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Experience : |
17 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturers, Exporter and Trader of Fire Fighting Equipments, Air
Distribution, Air Terminals for Air Conditioning, Variable Air Volume Units. |
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Products : |
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Fire Fighting Equipments +
Air Distribution +
Air Terminals |
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Brand Names : |
"Conaire" |
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Terms : |
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Selling : |
L/C, Cash and Credit basis |
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Purchasing : |
L/C, Cash and Credit at sight basis |
GENERAL INFORMATION
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Customers : |
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Local Customers +
End Users |
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No. of Employees : |
Around 44 (in Office – 6 and In Factory – 38) |
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Bankers : |
ICICI Bank Limited, Noida, Canara Bank, Noida, |
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Facilities : |
Credit Limit: Rs. 5.000 millions from ICICI Bank Limited. Credit Limit: Rs. 6.500 millions from Canara Bank. |
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Banking
Relations : |
Satiafactory |
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Auditors : |
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Name : |
R. S. Singhvi and Company Chartered Accountants |
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Address : |
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CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 4.000 millions |
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Borrowed : |
Nil |
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Total : |
Rs. 4.000 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
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Particulars |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
30.000 |
28.700 |
28.200 |
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Profit/Loss for the year |
1.575 |
1.309 |
1.250 |
KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
5.25
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4.56 |
4.43 |
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Net Profit Margin (PBT/Sales) |
(%) |
5.25
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4.56 |
4.43 |
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Return on Investment (ROI) (PBT/Networth) |
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0.39
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0.32 |
0.31 |
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LOCAL AGENCY FURTHER INFORMATION
History
Actually the Concern was established in 1977 but the above name was changed
in 1994
Trade References:
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Fedder Lloyds Limited
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Maharaja Referigeration
As Per Web:
Profile
Backed with three decades of rich experience, they , an ISO
9001:2000 certified entity, specialize in the design and development of a range
of products for central air conditioning systems. Caire Consult has been enjoying
unmatched reputation in the industry via marketing its products under the brand
"Conaire" - a name synonymous to quality products, reliable service
and affordable prices. As a result of our uncompromising endeavor towards
quality, perfection and a passion for success, they are regarded as one of the
most prominent manufacturers and
suppliers in the country, availing a premium range of Air Distribution/Air Terminal Products for
Air Conditioning System, Smoke/Fire Control Devices, Volume Control Devices,
Ventilation/Supply Air Fans, Variable Air Volume Units, etc.
At, Caire Consult, they believe in providing consistency in performance and continual improvement of quality standard. This attitude has helped us in craving a valuable niche for ourselves both at the domestic and international market. With rich manufacturing capabilities, comprehensive quality control system, cost down production process and prompt delivery, they are poised to meet the exact requirements of customers and elevate the status of product quality and service excellence.
Clients and Installations
They have established long term relationship with a number of highly reputed
HVAC companies, some of which include-
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ABB Limited
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Blue Star Limited
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Dyna Aircon Limited
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ETA Engineers India Limited
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M.W. Zender (Private) Limited
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Suvidha Engineers India Limited
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Voltas Limted
The list of our most prominent installations includes the
following-
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Alembic Limited
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All India Institute of Medical Sciences
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Australian High Commission
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Biological E Limited
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Cadila
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Cipla Limited
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Colgate Palmolive Limited
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Dabur
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Delhi Metro Rail Corporation
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DELL
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HCL
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Vatika
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Wipro
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UAE Embassy, etc.
Quality
Since inception, commitment towards quality and customer satisfaction has
helped us to win the trust, confidence and assurance of valued customers. For
us, it remains the best way to pave the way for our success. They, at Caire
Consult, follow stringent quality control norms at each stage of the production
process, from sourcing of the raw material to the dispatch of the finished
products to ensure that all products adhere to internationally acclaimed
quality standards.
Strength
Here are a few factors which mark strength:
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Three advanced manufacturing units at
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A highly skilled and dedicated team of
professionals
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Premium products adhering to international
quality standards
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Durable, cost effective and latest technology
rich products
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Efficient product delivery
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Capacious and technologically advanced warehouse
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Three decades of industry experience
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Creative designs and sophisticated looks.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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.39.79 |
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1 |
Rs.81.23 |
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Euro |
1 |
Rs.56.41 |
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 |
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 |
NO |
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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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