MIRA
INFORM REPORT
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Report Date : |
07.09.2007 |
IDENTIFICATION DETAILS
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Name : |
BELLSTONE HI-
TECH INTERNATIONAL |
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Registered Office : |
3755, G F Main
Chawri Bazar, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1962 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELB09063F |
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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 testing, Industrial, Engineering, Laboratory and Scientific
Instruments. |
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 30000 |
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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.
Financial position of the concern is good. Payments are usually correct and
as per commitments. The concern can
be considered good for any normal business dealing at usual trade terms and
conditions. |
LOCATIONS
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Registered Office : |
3755, G F Main
Chawri Bazar, |
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Tel. No.: |
91-11-23273751 /
52 / 53 / 23245777 / 23939952 – 55 |
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Mobile No.: |
91-9810085839, 91-9818408595 |
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Fax No.: |
91-11-23251506 /
23251706 / 23939951 |
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E-Mail : |
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Website : |
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Area : |
4,000 sq. ft.
approx [Owned] |
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Factory: |
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Tel. No.: |
91-11-23273751 to
23273753, |
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Overseas
Office : |
The subject is having its overseas offices
at the following countries |
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Asia & Africa General Trading LLC |
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Tel. No.: |
+97142287010/11 |
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Fax No.: |
+97142287012 |
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E-Mail : |
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Tel. No.: |
965-2437670,
2428730 |
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Fax No.: |
965-2402294 |
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P.O. Box No. 22036, |
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Tel. No.: |
977-426035 |
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Fax No.: |
97-426035 |
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E-Mail : |
PARTNERS
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Name : |
Mr M L Sethi |
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Designation : |
Partner |
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Address : |
C 356 Defence
Colony, |
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Date of Birth/Age : |
66 Years |
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Qualification : |
Graduate |
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Experience : |
41 Years |
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Name : |
Mrs. Meena Sethi |
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Designation : |
Partner |
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Date of Birth/Age : |
62 Years |
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Name : |
Mr. Amit Sethi |
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Designation : |
Partner |
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Date of Birth/Age : |
33 Years |
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Qualification : |
Graduate, MBA |
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Experience : |
11 Years |
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91-9810083859 |
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Name : |
Mr. Ashish Sethi |
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Designation : |
Partner |
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Date of Birth/Age : |
36 Years |
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Qualification : |
Graduate |
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Experience : |
14 Years |
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91-9818408595 |
KEY EXECUTIVES
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Name : |
Mr. Gautam |
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Designation : |
Accountant Manager |
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Name : |
Mr. Ravindra |
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Designation : |
Marketing Manager |
BUSINESS DETAILS
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Line of Business : |
Manufacturers and
exporters of testing, Industrial, Engineering, Laboratory and Scientific
Instruments. |
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Products : |
Ø
Geotechnical
Equipments Ø
Laboratory
Research & Scientific Equipments Ø
Microscopes Ø
Balances Ø
Laboratory
Glassware & Plastic ware Ø
Education
& Technical Training Equipments Ø
Electrical
& Electronics Instruments Ø
Reagents
& Chemicals Ø
Oil
& Petroleum Testing Equipments Ø
Survey
Equipments Ø
Surveying
Models Ø
Dairy
& Milk Testing Equipments Ø
Yarns
& Fabric Testing Equipments Ø
Pharmaceutical
Testing Equipments Ø
Medical
& Surgical Equipments Ø
Testing
Equipments Ø
Rubber
Testing Equipments Ø
Plastic
Testing Equipments Ø
Footwear/Leather
Testing Equipments Ø
Paper
Testing Equipments Ø
Agriculture
Tool & Sprayers Ø
Tools
& Hardware Ø
Precision
Measuring Instruments Ø
Industrial
Control Products Ø
Pneumatics’
& Hydraulics’ Ø
Construction
Equipments Ø
Mechanical
Hopper Ø
Hydraulic
Hopper Ø
Blender
Mixer Ø
OPT
Mechanical Hopper Ø
Slab
Trolley with Rails Ø
Needle
Vibrator Ø
Sand
Washing Machine Ø
Earth
Compactor Ø
Mini
Crane Ø
Hydraulic
Block Laying Ø
Auto ramming
Block Machine Ø
Bulldozers Ø
Wheel
Loaders Ø
Rope
Shovels Ø
Walking
Dragline Ø
Pipe
layer Ø
Crane Ø
Side
Discharge Loader Ø
Support
Equipments Ø
Bulk
Material Handing Equipments Ø
Pipettes |
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Exports : |
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Countries : |
Abu Dhabi, Bangladesh,
Botswana, Bulgaria, Ghana, Hong Kong, Jordan, Netherlands, Nigeria, Oman,
USA, Canada, Cambodia, Dubai, Kenya, Russia, South Africa, UK, Germany,
Malaysia, Sri Lanka, UAE and Zambia |
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Imports : |
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Countries : |
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Terms : |
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Selling : |
Telegraphic
Transfer /Letter of Credit at sigh |
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Purchasing : |
On Irrevocable
Letter of Credit at sight basis |
GENERAL INFORMATION
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Customers : |
Wholesalers and
End Users |
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No. of Employees : |
100 |
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Bankers : |
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Facilities : |
C/C – Rs. 10.000 Millions P/C – Rs. 8.000 Millions L/C – Rs. 20.000 Millions |
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Banking
Relations : |
Satisfactory |
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Associates/Subsidiaries : |
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CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 7.500
Millions |
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Borrowed : |
--- |
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Total : |
Rs. 7.500 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 |
160.000 |
150.000 |
135.000 |
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Profit/(Loss)
Before Tax |
NA |
2.625 |
2.228 |
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Profit/(Loss)
After Tax |
NA |
2.300 |
2.000 |
Expected Sales (2007-08) : Around Rs. 200.000 Millions
LOCAL AGENCY FURTHER INFORMATION
The subject is a
Manufacturer, exporter & importer of Testing, Industrial, Engineering, Laboratory
and Scientific Instruments. The subject company was established in 11962 by Mr
M L Sethi. The subject is exporting their products for more than 25 countries
globally. The inquired address is the subject’s registered and sales office and
it is situated at prime commercial location. The subject company premise is
owned by them.
Mr Amit Sethi is
looking after international marketing and Mr Ashish Sethi is looking after
domestic marketing. Mr ML Sethi is looking after production and administrative
activities.
An Indian Export
House of Recognition. – 90,000 Varieties of Latest testing, industrial,
engineering, laboratory and scientific instruments. With over 40 years of
experience, managed for 3 generation, bell stone has a history of growth and development
with a number of notable milestones. Today they stand as one of the biggest
industrial department stores in
They have mammoth
quantity of ready stock with us. Each product is well packed along with
detailed instruction manuals. They provide the products as well as their
packing and labeling with buyers brand name.
Bellstone’s
dedication to the services of science, education, health and industry is the
rich heritage of the company that continues today and will be fostered in
future too. They have satisfied cliental all around the globe, including
foreign governments, ministry of education and labour, World Bank, United
Nations development. Programmer and many more.
Precision, quality
and affirm belief in perfection has resulted in constant up gradation of
technology andantinos of the existing products facilities to meet changing and
exacting demands. Which means having the best of men and machines.
Their research and
test laboratory has approved products certification from renowned laboratories
of govt. of
Their motto is end
user satisfaction. They are determined to provide their client with premium
quality product. And so they are well prepared to expire the new market demands
with their quality products with zeal and passion involving their skill and
experience of yester years with today’s modern techniques. They dedicate their
selves to serve the customer to their satisfaction and assure their utmost
consideration at all times.
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.40.85 |
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1 |
Rs.82.54 |
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Euro |
1 |
Rs.55.76 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
6 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
6 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
6 |
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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 |
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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54 |
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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