MIRA
INFORM REPORT
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Report Date : |
27.09.2007 |
IDENTIFICATION DETAILS
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Name : |
BEDI EXPORTS INTERNATIONAL |
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Registered Office : |
C – 89, Focal Point Extension, Jalandhar – 144001, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1993 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
JLDB00357A |
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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 Scaffolding Products, Hand Tools, Farm |
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 22000 |
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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 : |
C – 89, Focal Point Extension, Jalandhar – 144001, |
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Tel. No.: |
91-181-2600325 / 2600028 / 2227091 |
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Mobile No.: |
91-9815061925 / 9815090085 |
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Fax No.: |
91-181-2233042 / 2600028 / 91-171-2699154 / 2699637 |
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E-Mail : |
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Website : |
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Area : |
1500 sq. mtrs. [Owned] |
PARTNERS
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Name : |
Mr. R. S. Bedi |
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Designation : |
Partner |
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Address : |
Jalandhar, |
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Date of Birth/Age : |
59 Years |
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Qualification : |
Under Graduate |
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Experience : |
35 Years |
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Name : |
Mr. Sunny Bedi |
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Designation : |
Partner |
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Address : |
Jalandhar, |
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Date of Birth/Age : |
28 Years |
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Qualification : |
Graduate |
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Experience : |
5 Years |
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Name : |
Mr. Jasjeet Singh Bedi |
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Designation : |
Partner |
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Mobile No. : |
91-9815090085 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers and Exporters of Scaffolding Products, Hand Tools, Farm |
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Products : |
·
Scaffoldings ·
Malleable Iron
Castings ·
SG Iron Castings ·
Related Accessories -
Top Cup -
Jack Nut -
Prop Nut -
Wing Nut -
Drop Head -
Wedge Plate -
Anchor Nut -
Water Stopper -
Base Jack -
Prop Collar -
Cuplock -
Tie Rod |
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Exports : |
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Products : |
Scaffolding Products |
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Countries : |
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Imports : |
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Products : |
Machinery and Spares |
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Countries : |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash, Credit [30 days] and at Sight |
PRODUCTION STATUS
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Particulars |
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Actual
Production |
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Scaffolding Products |
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As per demand |
GENERAL INFORMATION
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Customers : |
Retailers |
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No. of Employees : |
166 [In Office : 16 and In Factory : 150] |
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Bankers : |
Punjab National Bank Jalandhar, |
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Facilities : |
Rs. 5.000 Millions |
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Banking
Relations : |
Satisfactory |
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Memberships : |
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CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 5.500 Millions |
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Borrowed : |
-- |
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Total : |
Rs. 5.500 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 |
70.000 |
65.000 |
62.000 |
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Profit/Loss for the year |
2.800 |
2.740 |
2.461 |
Expected Sales (2007-08) : Rs.75.000 Millions
LOCAL AGENCY FURTHER INFORMATION
Trade Reference
- Constantantine
N. Polites and Company –
As Per Website
Profile
A highly reputed ISO 9001 certified company, subject was established in the year 1993. Its business
operations started with a modest beginning, however, soon the company grew
rapidly expanding its market all over the world. This tremendous growth and
success is the result of their committed attitude to deliver products and
services of an unmatched quality. For them, continuous improvement is the way
of their corporate journey. Through constant research and innovation, they have
come a long way during the last 14 years and established themselves as a
forerunner in the industry. Today, they are a globally recognized manufacturer
and exporter exhibiting
brilliant performance in developing a range of premium quality products. The
product portfolio of their company includes Scaffoldings, Malleable
Iron Castings, SG Iron Castings, and Related Accessories. These products, all made of supreme
grade raw materials, are manufactured at their sophisticated production unit
adhering to internationally acclaimed quality standards. The complete range
offers performance at their best and all of them are available at great prices,
despite being of world class quality.
Subject is a reputed member of EEPC (Engineering Export Promotion
Council of India) and with its advanced infrastructural facilities, the company
is capable of producing 200 tonnes of products per month. Today, almost 60% of
their total products are exported to the international market where they are
highly acclaimed for their distinguished quality.
Quality
Subject set realistic quality objectives and endeavor to provide their clients
consistently high quality products. To ensure that their products comply with
international quality standards, a quality management system has been
successfully implemented in their company. As per this policy, they follow a
well defined path to fulfill their quality objectives. All the raw materials
are procured, tested and processed with utmost care, with subsequent product
inspection at each and every level. Finally, the finished products are
delivered to clients within shortest possible time. Such a level of quality consciousness
helps them to sustain the trust of their clients and keep themselves at the top
in their priority list.
Infrastructure
Subject has been engaged in its field for over a decade. Throughout their
journey, they have acquired unique expertise and built up a robust
infrastructural base. This infrastructural base provides them adequate support
to excel, to prosper and to march towards their goal of being a global leader.
The factory premise of their company is expanded over a huge area, housing captive
facilities for manufacturing, quality testing and R&D. These units are
operated by the experts in relevant fields and loaded with a massive range of
cutting edge machinery. As a result, they can complete manufacturing process
under one roof and thus, minimize the production cost. That is why, the
solution they provide, is always the most cost effective, despite being
unmatched in quality.
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.39.75 |
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1 |
Rs.80.33 |
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Euro |
1 |
Rs.56.24 |
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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