MIRA
INFORM REPORT
|
Report Date : |
06.10.2007 |
IDENTIFICATION DETAILS
|
Name : |
R. R. TRADING
COMPANY |
|
|
|
|
Registered Office : |
D-29, Basement,
Hauz Khas, New Delhi-110016 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2007 |
|
|
|
|
Date of Incorporation : |
1992 |
|
|
|
|
IEC No.: |
0594058848 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
DELR11554E |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAEFR1072K |
|
|
|
|
Legal Form : |
Partnership concern
with an unlimited liability of the partners. |
|
|
|
|
Line of Business : |
Trader of Coated
Man-Made Fabric, Woollen Card Clothing “ABCC”, Wooden Lags with PIN, S.S. Dye
and Spring and Importer of P. U. Synthetic Leather, Copper Foil and Thermo Couple. |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
Maximum Credit Limit : |
USD 5600 |
|
|
|
|
Status : |
Small concern |
|
|
|
|
Payment Behaviour : |
Slow by average
30 days |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject report is
based on an interview with Mr. Kewal Joshi of the concern. Subject is a small
concern in it’s field. Payments are reported as slow but correct. The concern can
be considered for small to mediocre business dealings at usual trade terms
and conditions. |
LOCATIONS
|
Registered Office : |
D-29, Basement,
Hauz Khas, New Delhi-110016, |
|
Tel. No.: |
91-11-26855864 / 26563721 / 26510999 |
|
Fax No.: |
91-11-26866386 |
|
E-Mail : |
|
|
Website : |
PARTNERS
|
Name : |
Mr. Rattan Lal
[H.U.F.] |
|
Designation : |
Partner |
|
Address : |
C-1/6, S. D. A., New Delhi-110016, |
|
Date of Birth/Age : |
80 years |
|
Qualification : |
Graduate |
|
Experience : |
52 years |
|
|
|
|
Name : |
Mr. Atul Bindal
[H.U.F.] |
|
Designation : |
Partner |
|
Address : |
C-1/6, S. D. A., New Delhi-110016, |
|
Date of Birth/Age : |
47 years |
|
Qualification : |
Graduate |
|
Experience : |
24 years |
|
|
|
|
Name : |
Mrs. Sunita
Bindal |
|
Designation : |
Partner |
|
Address : |
C-1/6, S. D. A., New Delhi-110016, |
|
Date of Birth/Age : |
44 years |
|
Qualification : |
Graduate |
|
Experience : |
19 years |
BUSINESS DETAILS
|
Line of Business : |
Trader of Coated
Man-Made Fabric, Woollen Card Clothing “ABCC”, Wooden Lags with PIN, S.S. Dye
and Spring and Importer of P. U. Synthetic Leather, Copper Foil and Thermo
Couple. |
|
|
|
|
Agencies Held : |
Ø
Daewod
International Corporation, Ø
Schelling
S. R. L., Ø
Lianing
Light Industrial Products, Ø
Dalian
Jinggang Group Importer and Exporter, Ø
Orkli
s. Corp., Ø
Indian
Dye Spring Company, Thane Ø
Mayur
Unicotos’s Limited, Jaipur Ø
AB
Card Clothing Company, Gurgaon |
|
|
|
|
Imports : |
|
|
Countries : |
PU Synthetic Leather,
Cylinder Fillet and Doffer Fillet, Copper Foil and Thermo Couple from |
|
|
|
|
Terms : |
|
|
Selling : |
Credit (60 days)
terms |
|
|
|
|
Purchasing : |
Credit (30/60
days) terms or advance |
GENERAL INFORMATION
|
Customers : |
Wholesalers,
Retailers and End Users |
|
|
|
|
No. of Employees : |
6 |
|
|
|
|
Bankers : |
Ø
IDBI
Bank, Ø
Canara
Bank, Hauz Khas, New Delhi-110016, Ø
Syndicate
Bank, |
|
|
|
|
Facilities : |
Subject do not
enjoy any facility from its bankers |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Ajay Aggarwal and
Company Chartered
Accountants |
|
Address : |
1/42, |
|
Tel. No.: |
91-11-22425850/22011764 |
|
Fax No.: |
91-11-22425850 |
|
|
|
|
Associates/Subsidiaries : |
Ø
Ashton
International Private Limited, C-1/6, S. D. A., New Delhi-110016, -- Exporter, Manufacturer and Traders of Textile Machinery Parts. Ø
Orco
Enterprises, D-29, Basement, Hauz Khas, New Delhi-110016, -- Manufacturers of Textile Machinery Parts Ø
Ashton
Transmission Company, D-29, Basement, Hauz Khas, New Delhi-110016, -- Manufacturer of Tapes and Conveyors Ø
AB
Card Clothing Private Limited, Bajghera Road, Village Sarai Alawardi, P O
palam vihar, Gurgaon-122001, Haryana, India -- Manufacturer of Card Clothing Ø
Asian
Enterprises, G-57, 1st Floor, Sector-6, Noida, -- Manufacturers of P. U. Tube,
P. U. round Belts and P. U. Coils, etc. |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Rs.1.400 millions |
|
Borrowed : |
-- |
|
Total : |
Rs.1.400 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
|
Particulars |
|
31.03.2007 |
31.03.2006 |
|
Sales Turnover |
|
1.630 |
1.518 |
|
|
|
|
|
LOCAL AGENCY FURTHER INFORMATION
Notes:
Subject is temporarily shifted to a new address and shall within
December 2007 shift permanently to the address -
414, Somdutt Chamber, 2nd
It is in trade terms with :
Ø
Ashton
Transmission Company, Noida
Ø
Uni Fab
Industries, Sonepat
Ø
Lohia
Star linger Limited,
Ø
Sahib
Synthetics,
Ø
Cownpore
Woollen Mills,
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 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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.39.49 |
|
|
1 |
Rs.80.41 |
|
Euro |
1 |
Rs.55.76 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
26 |
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
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|