MIRA
INFORM REPORT
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Report Date : |
17.09.2007 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
Plot No. 59 A, R S No. 625, Behind Ashok Iron Works, Plant 2, Machine
Industrial Estate, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
2000 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer of Traffic and Road Safety Equipment. |
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 8000 |
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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 : |
Plot No. 59 A, R S No. 625, Behind Ashok Iron Works, Plant 2, Machine
Industrial Estate, |
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Tel. No.: |
91-831-6511580 |
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Mobile No.: |
91-9448142640 |
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E-Mail : |
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Area: |
290sq.mtrs |
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Location : |
Owned (75%) |
SOLE PROPRIETOR
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Name : |
Mr. Rohan R. Javali |
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Designation : |
Proprietor |
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Date of Birth/Age : |
28 years |
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Qualification : |
B.Com |
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Experience : |
7 years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Traffic and Road Safety Equipment. |
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Products : |
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Terms : |
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Selling : |
Credit (45 days) |
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Purchasing : |
Credit (30 days) |
GENERAL INFORMATION
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Suppliers : |
³
Deepak Trading, Mumbai ³
Chetan Steels, |
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Customers : |
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S.B. Sadhakatti, ³
Protect Founders Private Limited, |
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No. of Employees : |
20 |
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Bankers : |
Bank of |
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Facilities : |
Cash Credit Rs.0.500 million |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Gadgil and Upal Chartered Accountants |
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Address : |
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Memberships : |
³
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CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.2.000 millions |
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Borrowed : |
-- |
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Total : |
Rs.2.000 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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3.800 |
3.500 |
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Profit/Loss for the year |
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10% |
-- |
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LOCAL AGENCY FURTHER INFORMATION
Average Value of Inventories at any given time: Rs.0.500 million
As Per Web Details
Company Profile:
Over the years, road users have become
increasingly aware of the need for safer roads and even the authorities are
trying their level best to minimize the road accidents by implementing an
effective traffic management programme. In an endeavour to make roads more
safer for the commuters Subject was established in the year 2000. The
progressive manufacturer has carved a niche for itself in today's competitive scenario by
offering unmatched product line of traffic safety equipment. Today, the
company is the most preferred destination for procuring unmatched Traffic Sign
Boards, Machines, Road Safety Products,
They
are professionally managed by a group of professionals having in-depth
expertise in this discipline. Their products are manufactured as per
internationally accepted norms and practices that aid in facilitating smooth
and efficient production. Every product manufactured matches perfectly with
Indian climatic conditions and is capable of rendering years of capable
services to their valued clients. They are a regular member of Belgaum Chamber of
Commerce, Belgaum Small Scale Industries Association and Belgam Foundary
Cluster.
Salient
Features of their
- High
retro-reflective performance (day & night)
- Fast drying
- Excellent
adhesion
- High
durability
- Good flow
resistance
- Good skid
resistance
- Non-toxic
& eco-friendly products.
Their Quality
Strictly
committed to deliver the best range of products, they, at Ravi Industries,
follow strict quality control procedures at every level of their process to
ensure flawless production. All their products are manufactured by employing
the finest quality of raw material which is sourced from the reputed agents of
the market. They have a well equipped R & D wing, which is powered with
innovative workforce and modern technology to innovate most advance range of
products that suits Indian climatic conditions. Their commitment towards
quality and client satisfaction provide them an additional edge over the other
players in similar arena.
Timely Delivery
They
know the importance of time in today's business scenario. Thus, a proper
inventory control system is maintained that enable them to ensure smooth and
efficient flow of goods to the market. They are capable of feeding bulk demand
in the shortest possible time frame.
Infrastructure
Subject
possesses an advance manufacturing unit situated in Mahhe Industrial Estate,
Why Them?
- Reputation
based on quality, reliability, integrity, and complete understanding of
the market dynamics
- Prompt
delivery and customer satisfaction--their top priority
- A sound
infrastructure armored with advanced and innovative technology
- Meeting the
exacting requirements of the customers and standards of the industry
- Top-notch
quality products manufactured following stringent quality checks
- Competitive
prices--the best price offered in the market
- Enhancement
of products both in quality and innovation.
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.40.45 |
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1 |
Rs.81.72 |
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Euro |
1 |
Rs.56.09 |
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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