MIRA
INFORM REPORT
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Report Date : |
13.10.2007 |
IDENTIFICATION DETAILS
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Name : |
PERFECT AGRO INDUSTRIES |
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Registered Office : |
B -11, Focal Point, Jalandhar – 144 004, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
2003 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
JLDP02485A |
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PAN No.: [Permanent
Account No.] |
AAGFP3177K |
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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 Agriculture Equipments, Garden Spades,
Shot Blasting Machines and Agriculture Tools. |
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. Partners are reported as experienced and respectable businessmen. Trade
relations are reported as 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 -11, Focal Point, Jalandhar – 144 004, |
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Tel. No.: |
91-181-2601147, 2602652 |
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Mobile No.: |
91-9815400512 |
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Fax No.: |
91-181-5001222 |
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E-Mail : |
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Website : |
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Area : |
5000 sq. mtrs. |
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Location : |
Owned |
PARTNERS
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Name : |
Mr. Manjit Singh |
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Designation : |
Partner |
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Date of Birth/Age : |
39 years |
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Qualification : |
Post Graduate |
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Experience : |
17 years |
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Name : |
Mr. Hardeep Singh |
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Designation : |
Partner |
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Date of Birth/Age : |
37 years |
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Qualification : |
Graduate |
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Experience : |
12 years |
BUSINESS DETAILS
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Line of Business : |
Manufacturers and Exporters of Agriculture Equipments, Garden Spades,
Shot Blasting Machines and Agriculture Tools. |
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Products: |
v
Spades v
Forks v
S S Range v
Shovels v
Rakes v
Cultivators v
Hoes v
Small Tools v
Snow tools v
Earth Drills v
Soil Mixer v
Fencing Pins v
Bars v
Forging Tools v
Steel Clamps v
Lawn Mower v
Racks |
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Exports : |
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Products : |
Agriculture Implements |
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Countries : |
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Terms : |
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Selling : |
L/C, Cash or Credit |
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Purchasing : |
L/C, Cash or Credit (60 days) |
PRODUCTION STATUS
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Particulars |
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Actual
Production |
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Agriculture Implements |
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As per Demand |
GENERAL INFORMATION
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Customers : |
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Local Customers v
End Users |
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No. of Employees : |
154 (Office: 16; Factory: 138) |
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Bankers : |
State Bank of Jalandhar, |
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Facilities : |
Credit Limit – Rs. 5.000 millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Ranjan Sehgal and Company Chartered Accountants |
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Address : |
Jalandhar, |
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Associates/Subsidiaries : |
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Perfect Engineering Address: Jalandhar, v
Sambhi Engineering Address: Jalandhar, |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 4.000 millions |
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Borrowed : |
- |
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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 |
36.500 |
28.700 |
28.200 |
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Profit/Loss for the year |
2.075 |
1.709 |
1.550 |
LOCAL AGENCY FURTHER INFORMATION
Trade References
v
v
Vasu Impex PLC –
(Division of Perfect Industries,
3448
Contact Person: Mr. Rakesh Ryan
Tel. No.: 91-414-2919463
E-Mail: vasuimpex@yahoo.com
Website: http://www.perfectagro.com
Website details attached:
Perfect Group of Companies was established in 1986 with a view to eater
services to the vast field of Engineering Industries, Food Industries and
Garden Engineering all over the globe.
Today subject has been grown as one of the largest business house capable of
offering all engineering products and its allied equipments for various
Industries.
The company managed by Perfect Group over a span of 2 decades with trough
professional experience has expanded in multiple folds with latest technology
for Manufacturing. Trading and exporting of products. Service like: Garden
Tools, Lawn Mowers, Cutting Tools and other Engineering Allied Equipments
respectively.
Their motto is to supply and serve their customers in the best, having the
privilege to deal all Engineering products and Services under one roof with all
kinds of facilities, complete after sale, services and constituencies.
Shortly company is going to install CNC Machines.
Furthermore, for all above, they thank their Customers all over the globe who
have made this possible and they look to their unsustained support.
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 exist on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence does 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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1 |
Rs. 79.74 |
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Euro |
1 |
Rs. 55.74 |
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 |
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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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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