MIRA
INFORM REPORT
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Report Date: |
25.04.2008 |
IDENTIFICATION
DETAILS
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Name: |
H B Traders |
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Registered Office: |
B-214, New Subzi
Mandi, Azadpur, New Delhi – 110 033 |
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Country: |
India |
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Financials (as on): |
31.03.2008 |
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Date of Incorporation: |
1998 |
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Legal Form: |
Sole Proprietary Concern |
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Line of Business: |
Exporter, Supplier and Importer of Fresh Fruits and
Vegetables. |
RATING
& COMMENTS
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MIRA’s Rating: |
Ba |
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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 24000 |
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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. |
INFORMATION PARTED BY
|
Name : |
Mr.
Balvinder. Kumar Narula |
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Designation
: |
Sole Proprietor |
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Date : |
25.04.2008 |
LOCATIONS
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Registered Office: |
B-214, New Subzi
Mandi, Azadpur, New Delhi – 110 033, India |
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Tel. No.: |
91-11-27431295 /
27446258 |
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Mobile No.: |
91-9810089545/ 9810156022/ 9810032275 |
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Fax No.: |
91-11-27453432 |
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E-Mail: |
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Website: |
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Area: |
800 sq. ft. |
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Location: |
Owned |
SOLE
PROPRIETOR
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Name: |
Mr. Balvinder. Kumar Narula |
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Designation: |
Sole Proprietor |
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Date of Birth/Age: |
53 Years |
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Qualification: |
Graduate |
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Experience: |
28 Years |
BUSINESS
DETAILS
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Line of Business: |
Exporter, Supplier and Importer of Fresh Fruits and
Vegetables. |
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Products: |
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Exports: |
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Products: |
All Products |
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Countries: |
UK, USA and Europe |
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Imports: |
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Products: |
Raw Material |
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Countries: |
New Zealand, USA |
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Terms: |
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Selling: |
LC, Cash and Credit basis |
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Purchasing: |
LC, Cash and Credit basis |
GENERAL
INFORMATION
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Suppliers: |
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Customers: |
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No. of Employees: |
About 25 |
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Bankers: |
Jammu and Kashmir Bank, Azad Pur, New Delhi – 110033,
India |
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Banking Relations: |
Satisfactory |
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Memberships: |
Azadpur Fruits & Vegetable Traders Association |
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Sister Concerns : |
H R Fruits Harkishanlal Baldaverai Line of Business: Exporter, Supplier and Importer of Fresh
Fruits and Vegetables. Sales Turnover: Rs. 600.000 millions Employees: about 60 |
CAPITAL
STRUCTURE
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Capital Investment: |
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Owned: |
Rs. 6.000 millions |
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Borrowed: |
Nil |
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Total: |
Rs. 6.000 millions |
FINANCIAL
DATA
[all figures are in Rupees Millions]
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Particulars |
31.03.2008 |
31.03.2007 |
31.03.2006 |
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Sales Turnover |
40.000 |
35.000 |
30.000 |
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Profit/Loss for the year |
12% |
12% |
12% |
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Export Value |
NA |
15% |
NA |
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Import Value |
NA |
10% |
NA |
Expected Sales (2008-09):
Rs. 50.000millions.
LOCAL AGENCY FURTHER INFORMATION
Nil
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 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
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.40.14 |
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UK Pound |
1 |
Rs.79.66 |
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Euro |
1 |
Rs.62.92 |
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 |
|
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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