MIRA
INFORM REPORT
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Report Date : |
21.09.2007 |
IDENTIFICATION DETAILS
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Name : |
GONDWANA ENTERPRISES |
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Registered Office : |
B-20-B, Sector-9,Noida -
201301, Uttar Pradesh |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1996 |
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Legal Form : |
Partnership Concern with an unlimited liability of the partners. |
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Line of Business : |
Manufacturers, Exporters and Traders of Sheet Metal Components. |
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 14000 |
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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 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 : |
B-20-B, Sector-9,Noida -
201301, |
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Tel. No.: |
91-120-2537534 |
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Mobile No.: |
91-9313260120 / 9310357370 |
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Fax No.: |
91-11-27119262 |
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E-Mail : |
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Website : |
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Area : |
416 sq. meters |
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Location : |
Owned |
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Factory 1: |
B-20-B, Sector-9,Noida -
201301, |
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Tel. No.: |
91-120-2537534 |
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Fax No.: |
91-11-27119262 |
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E-Mail : |
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Area : |
1.5 acres |
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Location : |
Owned |
PARTNERS
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Name : |
Mr. B S Maheshwari |
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Designation : |
Partner |
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Date of Birth/Age : |
50 Years |
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Qualification : |
B. Tech. |
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Experience : |
28 Years |
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Name : |
Mr. B L Somani |
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Designation : |
Partner |
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Date of Birth/Age : |
81 Years |
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Qualification : |
Inter |
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Experience : |
65 Years |
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Name : |
Mrs. Santosh Somani |
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Designation : |
Partner |
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Date of Birth/Age : |
60 Years |
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Qualification : |
Graduate |
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Experience : |
Housewife |
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Name : |
Mrs. Sarita Maheshwari |
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Designation : |
Partner |
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Date of Birth/Age : |
56 Years |
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Qualification : |
Graduate |
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Experience : |
Housewife |
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Name : |
Mrs. Sudha Maheshwari |
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Designation : |
Partner |
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Date of Birth/Age : |
30 Years |
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Qualification : |
Post Graduate |
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Experience : |
5 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturers, Exporters and Traders of Sheet Metal Components. |
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Products : |
Sheet Metal Components |
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Exports : |
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Products : |
Sheet Metal Components |
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Countries : |
East West Asian countries, Latin American Countries,
Europe, Sri Lanka, Pakistan, Bangladesh, South America, Indonesia, Middle
East |
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Terms : |
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Selling : |
L/C, Cash and Credit basis |
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Purchasing : |
L/C, Cash and Credit at sight basis |
GENERAL INFORMATION
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Customers : |
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No. of Employees : |
Around 30 (In Office – 5 and In Factory – 25) |
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Bankers : |
Canara Bank, Kamla Nagar, |
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Facilities : |
Credit Limit: Rs. 3.000 millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Kesari and Kesari Associates Chartered Accountants |
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Address : |
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CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 3.500 millions |
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Borrowed : |
Nil |
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Total : |
Rs. 3.500 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 |
17.000 |
15.600 |
17.500 |
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Export Value |
1.700 |
1.500 |
1.400 |
LOCAL AGENCY FURTHER INFORMATION
Trade References :
- Indian
Railways
- Zettline Mobile
Systems Company, Noida,
As Per Web:
Profile :
Established in the year 1996, Gondwana Enterprises is a
small scale industry registered with National Small Industries Corporation and
also approved by Research Design & Standards Organization (RDSO), Ministry
of Railways as a manufacturer and
supplier of Elastic Rail Clips to Indian Railways. Gondwana Enterprises
is also involved in trading/imports/exports
of railway track components and various kinds of sheet metal products. The
company is moving towards tie-up in the field of railway track components with
foreign manufacturers.
Organizational Strategy
With a clear vision of moving ahead in the international market, Gondwana Enterprises
kept stepping forward with the help of its objective like International
competence, cost efficiency and customer satisfaction. The Unit is headed by a
well qualified & experienced engineer, Mr. V.S. Maheshwary and supported by
a set of experienced supervisory staff.
Infrastructure
They are equipped with modern
facilities such as conveyorised auto temperature controlled furnaces, power
presses and sophisticated heat treatment facilities. It is equipped with tool
room facilities and a modern laboratory with facilities for testing hardness,
decarburisation, inclusion rating and toe load, etc.
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Aluminium Rosettes
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Anti
Theft Elastic Rail Clips
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Door
Closure Accessories
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Door
Handles
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E-clips
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Elastic
Rail Clips
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Elastic
Rail Clips Mk-III
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Pandrol
Clips
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Railway
Track Components
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Sheet
Metal Components
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SS
Hinges
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Telecom
Shelter Components
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Tower
Bolts
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Vacuum
Metallising
§
Vacuum
Metallising on fancy lights.
Subject is an ISO
9001:2000 accredited Company
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.39.91 |
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1 |
Rs.79.88 |
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Euro |
1 |
Rs.55.55 |
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 |
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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