MIRA
INFORM REPORT
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Report Date : |
11.09.2007 |
IDENTIFICATION DETAILS
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Name : |
PRAGNA METAL LABEL MANUFACTURING COMPANY |
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Registered Office : |
16/a, Elcon Building, Harichand Mill Compound, LBS Marg, Near Godrej Petrol
Pump, Vikhroli [West], Mumbai – 400079, Maharashtra |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1954 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturers & Exporters of
All Kinds of Metal Labels & Name Plates, Water Proof Metal Labels &
Stickers of Anodised and Aluminium, Brass and Stainless Steel, CNC Routier
Labels, Diamond Cut Finish. |
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 28800 |
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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 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 : |
16/a, Elcon Building, Harichand Mill Compound, LBS Marg, Near Godrej
Petrol Pump, Vikhroli [West], Mumbai – 400079, Maharashtra |
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Tel. No.: |
91-22-25778057 / 25796258 / 65216674 |
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Mobile No.: |
91-9819804634 |
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Fax No.: |
91-22-25796258 |
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E-Mail : |
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Website : |
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Area : |
3800 sq. ft. [Rented] |
SOLE PROPRIETOR
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Name : |
Mr. Sanjay Pol |
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Designation : |
Proprietor |
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Date of Birth/Age : |
38 Years |
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Qualification : |
Graduate |
BUSINESS DETAILS
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Line of Business : |
Manufacturers & Exporters of
All Kinds of Metal Labels & Name Plates, Water Proof Metal Labels &
Stickers of Anodised and Aluminium, Brass and Stainless Steel, CNC Routier
Labels, Diamond Cut Finish. |
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Products : |
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Exports : |
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Products : |
All Products |
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Countries : |
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Terms : |
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Selling : |
Cash and Credit [30-90 days] |
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Purchasing : |
Cash and Credit [30 days] |
GENERAL INFORMATION
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Customers / Trade Reference : |
Government
Bodies ·
Larsen & Toubro
Limited ·
Otis Elevator
Company Limited ·
Elecon Engineering
Company Limited ·
Bharat Heavy
Electricals Limited ·
Indian Railways ·
Siemens ·
Godrej & Boyce
Manufacturing Company Limited
·
Jyoti Limited ·
Vickeras Systems
International ·
Indian Ordinance
Factory, and many other prominent players |
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No. of Employees : |
44 |
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Bankers : |
Bank of |
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Facilities : |
C/C : Rs. 1.000 Million |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
G. B. Prabhu and Company Chartered Accountants |
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Mobile No.: |
91-9820229570 |
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Associates/Subsidiaries : |
Janani Arts Address : 9/22,
Panchasheel, Suryanagar, Vikhroli [West], Mumbai – 400083, Line of Business
: Manufacturing of trophies and mementos, seals and medals |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 7.200 Millions |
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Borrowed : |
-- |
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Total : |
Rs. 7.200 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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Around 8.600 |
Around 6.400 |
Expected Sales (2007-08) : Around Rs. 9.600 Millions
LOCAL AGENCY FURTHER INFORMATION
AS PER WEBSITE
Profile
Label is
an important element of packaging, which influences the purchase decisions of
consumers. If you are searching for the most trusted destination for all the
label needs for the electrical & electronics items, then the search ends at
subject Powered with its in-depth expertise in the discipline, the
distinguished manufacturer, exporter and supplier offers a complete line of all
water proof metal labels & stickers of anodised aluminium, brass, stainless
steel, etc. Recently
they have developed a new process and brought out specialized nameplates for
interior decorators and award trophy distributors. All the products are capable
of rendering years of services and are manufactured by employing the finest
quality of raw materials.
They follow
hard-core professionalism throughout the production process that facilitates
smooth and flawless production from every stage. Their sincere approach towards
product innovation and client satisfaction has helped them earn the trust of
innumerable domestic and overseas clients. Competitive prices and timely
delivery schedules are their hallmarks.
Janani Arts-- Associate Concern
Janani
Arts is their sister concern that supports them in successfully handling all
their business operations. It is engaged in the production of Trophies, Awards, Mementos, Models, Gifts, etc.
Products
Subject
is the manufacturer, exporter and supplier of metal labels. They use
combinations or group of etched, anodized, polished, shines, molded, designed,
electroplated metal with fiber, wood, glass, acrylic, parts and instrumentation
as per client's requirement and art-work in their products with names, numbers,
designs, trademarks or brand name eventually. Their product line includes:
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All kinds of Metal
Labels & Name Plates
·
Weather Proof Metal
Labels & Stickers of Anodised and Aluminium, Brass and Stainless Steel
They are
planning to introduce the following products in the near future:
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CNC Routier Labels
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Diamond Cut Finish.
Application of Products
Their products
are widely applicable on the following products:
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Ovens |
Ceiling
& Table Fans |
Energy
Meters |
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Control
Panels |
Trophies |
Other
Machines |
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Transformers
of all types |
Exhaust
Fans |
Switchgears
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Domestic
Appliances |
Sign
Boards |
Momentoes
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Quality Assurance
They
adhere to strict quality control norms and procedures at every level of their
operation that facilitates smooth and frequent production from every stage. All
their products are manufactured by following internationally accepted norms and
procedures. They source the finest available raw material from reputed agents
of the market. The entire production process is strictly monitored by a team of
diligent quality inspectors that facilitates efficient production. They are powered
with an adept human resources who enable them to fulfill all their business
objectives.
Client Satisfaction
They are
committed to deliver the best possible range of products at the most reasonable
prices to their prestigious clients, thus leaving no space for client
grievances. Their company is known for its client oriented approaches in the
entire business community.
Infrastructure
Pragna Metal is
equipped with an advanced manufacturing unit comprising of ultra modern
machines and well trained workforce that help it to manufacture high quality
products. They own a capacious warehouse and a wide distribution network of
dealers that ensures smooth and frequent flow of goods to the market.
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.40.63 |
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1 |
Rs.82.42 |
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Euro |
1 |
Rs.55.96 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
8 |
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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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48 |
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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