MIRA
INFORM REPORT
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Report Date : |
21.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
HAFI ELEKTRA PRIVATE LIMITED |
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Registered Office : |
Dahake Building, Groung Floor, Opp. Godbole HSG Limited, M G Road, Naupada,
Thane, Maharashtra, India |
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Country : |
India |
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Date of Incorporation : |
08.04.1988 |
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Com. Reg. No.: |
046935 |
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CIN No.: [Company
Identification No.] |
U46935MH1988PTC046935 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
PNEH04506F |
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PAN No.: [Permanent
Account No.] |
AAACH6853R |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer, Trader, Exporter and Importer of Industrial Vacuum
Cleaner |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an old and established company but seems to be passing
through difficult times. The company has not filed any financials with the
Government departments and management through parted general information but
declined to part with financials. As per last available financials of 2002,
the company had some accumulated losses. Payments are reported as slow but
correct. The company can be considered for small to mediocre business dealings,
with slight caution initially in view of the non – availability of latest
financials. |
INFORMATION PARTED
BY
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Name : |
Mr. Ashiwta Chitnis |
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Designation : |
Account |
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Date : |
19.04.2008 |
LOCATIONS
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Registered Office : |
Dahake Building, Groung Floor, Opp. Godbole HSG Limited, M G Road, Naupada,
Thane, Maharashtra, India |
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Website : |
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Corporate Office : |
2/A, Navdurga Society, Kaka Sohanipath – Off. Veer Savarkar Marg,
Mumbai – 400602, Maharashtra, India |
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Tel. No.: |
91-22-25406686 / 25400554 |
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Fax No.: |
91-22-25423938 |
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E-Mail : |
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Website : |
http://www.hafielektra.net
http://www.hafielektra.com |
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Area : |
600 sq. ft. |
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Located : |
Rented |
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Factory : |
J-341, MIDC, Bhosari, Pune – 411026, India |
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Tel. No.: |
91-20-27127915 |
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Fax No.: |
91-20-66114439 |
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Located : |
Owned |
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Branch : |
DELHI 91-11 – 27156380/27195326 SECUNDERABAD 94-40 - 27844620 BARODA 91-265 – 2791126 RAIPUR 91-771 – 2426211 JAMSHEDPUR 91-657 – 270095 COIMBATORE 91-422 – 2511462/63 KOCHI 91-484 – 2371058 PUNE
91-20 – 5888921 BANGALORE 91-80 - 56977646 |
DIRECTORS
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Name : |
Mr. Anil Kulkarni |
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Designation : |
Director |
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Address : |
218, Anand Niwas, 11th Road, Khar, Mumbai – 400052,
Maharashtra, India |
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Date of Birth/Age : |
20.08.1944 |
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Qualifications : |
B. Com |
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Date of Appointment : |
08.04.1988 |
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Name : |
Mrs. Aaruna Kulkarni |
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Designation : |
Director |
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Address : |
218, Anand Niwas, 11th Road, Khar, Mumbai – 400052,
Maharashtra, India |
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Date of Birth/Age : |
21.06.1951 |
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Qualifications : |
B. SC |
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Date of Appointment : |
12.08.1996 |
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Name : |
Mr. Ramesh G. Kulkarni |
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Designation : |
Director |
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Address : |
Santoshm 30 A/2, Juhu Tara Road, Mumbai – 400049, Maharashtra, India |
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Date of Birth/Age : |
27.09.1930 |
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Date of Appointment : |
08.04.1988 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 30.09.2004)
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Names of Shareholders |
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No. of Shares |
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Mr. Anil Kulkarni |
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2328 |
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Mrs. Aaruna Kulkarni |
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683 |
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Mrs. Meena Kulkarni |
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273 |
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Mrs. Devyani Kulkarni |
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633 |
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Mr. Bharat J Kilkarni |
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100 |
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Mr. Amarjeet Kulkarni |
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100 |
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Mr. Gautam Kulkarni |
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883 |
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Total |
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5000 |
(As on 31.03.20007)
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Category |
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Percentage |
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Directors or relatives of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Trader, Exporter and Importer of Industrial Vacuum
Cleaner |
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Products : |
· Electrical
Motors · Industrial
Vacuum Cleaners · Automatic
Wet and Dry Floor Cleaners · Oil
Recycling Units · Dust
Extractors · Scarifiers
/ Heavy Duty Floor Scrubbers · Flux
Recovery Unit · Mist
Extractors · Centralized
Vacuum Cleaning Systems. |
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Exports : |
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Products : |
All Products |
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Countries : |
· U.K · Italy · CIS · Indonesia · Philipines · Srilanka · Kenya · Mauritius · Singapore · U.A.E ·
Brazil |
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Imports : |
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Products : |
Sweeper |
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Countries : |
Italy |
GENERAL
INFORMATION
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Customers : |
· Retailers · End Users |
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No. of Employees : |
10 |
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Bankers : |
· State Bank of
India Thane Branch, Maharashtra, India |
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Facilities : |
C/C |
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Banking
Relations : |
- |
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Auditors : |
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Name : |
Sanghvi Outurkar and Kalekar Chartered Accountant |
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Address : |
Thane |
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Collaborators : |
· Nuova
Svamel (FLOOR) s.r.l. Italy Manufacturing of Automatic Wet and Dry Scrubbers. · Darenth
Equipments Limited., U.K. Manufacturing of Oil Recycling Machines. |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Share |
Rs.100/- each |
Rs.1.000 Million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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5000 |
Equity Share |
Rs.100/-
each |
Rs.0.500
Million |
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FINANCIAL DATA
[all figures are in Rupees Millions]
Not Available
LOCAL AGENCY
FURTHER INFORMATION
Trade Reference:
·
Praga Tool, Hyderabad
·
Siemens, Goa
·
Owen Corning, Talvoja
As per website
Profile:
Hafi elektra was promoted as a manufacturing division &
converted into corporate entity Hafi elektra pvt. ltd on 1st July 1988.
Subject was commissioned with the aim of manufacturing Suction Unit required
for Textile Industry. The design was obtained from 'Hans Fisher' Gmbh, a
renowned West German Company. The word 'Hafi' was derived from the first two
letters of each word from Hans Fischer wand the word 'Hafi' became synonymous
with Vacuum Cleaners for the Textile Industry.
They strive to provide superior cleaning and maintenance solutions adding value
beyond the expectations of the customer and achieve excellence through a
trained motivated and committed team. They are the Manufacturers of:
·
Industrial Vacuum Cleaners
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Automatic Wet and Dry Floor Cleaners
·
Oil Recycling Units
·
Dust Extractors
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Scarifiers / Heavy Duty Floor Scrubbers
·
Flux Recovery Unit
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Mist Extractors
·
Centralized Vacuum Cleaning Systems.
They have grown added new lines and entered into new ventures over past two
decades. They have successfully worked as an Import - substitute for Industrial
Cleaning Machines in India.
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No 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.39.96 |
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UK Pound |
1 |
Rs.78.66 |
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Euro |
1 |
Rs.63.31 |
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 |
3 |
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OPERATING SCALE |
1~10 |
7 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
- |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
4 |
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--RESERVES |
1~10 |
2 |
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--CREDIT LINES |
1~10 |
2 |
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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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26 |
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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