MIRA
INFORM REPORT
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Report Date : |
11.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
B S R ENTERPRISES |
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Registered Office : |
Alankar’s Flat Basement, No.40 Nathamuni Street, T Nagar, Chennai – 600017,
Tamilnadu |
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Country : |
India |
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Financials (as on) : |
31.03.2008 (Estimated) |
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Year of Establishment : |
1990 |
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Com. Reg. No. |
TNGST – 1521654/ 25.05.1990 CST – 772896/ 25.05.1990 |
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Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners. |
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Line of Business : |
Traders, Dealers and Distributors of Carrier Air Conditioner of all
Sizes. |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 50000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well – established Carrier dealer. Trade relations are fair.
Partners are experienced, respectable and resourceful businessmen. Their
trade relations are fair. Payments are fair. Payments are correct and as per
commitments. The concern can be considered good for any normal business dealings at
usual trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Ms. Maltraji |
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Designation : |
Account Manager |
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Date : |
09.08.2008 |
LOCATIONS
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Registered Office : |
Alankar’s Flat Basement, No.40 Nathamuni Street, T Nagar, Chennai – 600017,
Tamilnadu, India |
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Tel. No.: |
91-44-42024202/ 43502101/ 102/ 103/ 42122652/ 28156292/ 28156298 |
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Mobile No.: |
91-9841080049/ 9840979017 |
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Fax No.: |
91-44-43502101 |
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E-Mail : |
bsrenterprises_tn@touchtelindia.net |
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Website : |
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Area : |
1500 sq. ft. |
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Location : |
Rented |
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Showroom : |
Carrier Comfort Point, F-56, First Main Road, Anna Road, Chennai –
600102, Tamilnadu, India |
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Tel. No.: |
91-44-26262619/ 43500808 |
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Mobile No.: |
91-9841415516 |
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E-Mail : |
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Area : |
200 sq. ft. |
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Location : |
Rented |
PARTNERS
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Name : |
Mr. R. L. Scen |
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Designation : |
Partners |
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Date of Birth/Age : |
58 years |
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Qualification : |
MBA |
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Name : |
Mr. R. N. Basheer Ahmed |
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Designation : |
Partners |
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Date of Birth/Age : |
47 years |
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Qualification : |
MBA |
BUSINESS DETAILS
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Line of Business : |
Traders, Dealers and Distributors of Carrier Air Conditioner of all
Sizes. |
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Products : |
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Terms : |
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Selling : |
50% Advance and 50 Airtel Comple Firm |
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Purchasing : |
Credit (30 days) |
GENERAL
INFORMATION
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Customers : |
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No. of Employees : |
120 (Office – 100 and Factory – 20) |
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Bankers : |
Union Bank of India, Ashok Nagar, Chennai |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Hariharan and Associates Chartered Accountant |
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Address : |
Chennai |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.10.000 Millions |
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Borrowed : |
- |
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Total : |
Rs.10.000 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2008 |
31.03.2007 |
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Sales Turnover |
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500.000 (Estimated) |
500.000 (Estimated) |
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LOCAL AGENCY
FURTHER INFORMATION
Trade Reference:
- Bharati
Airtel Limited, Chennai
- Reliance Info
Company Limited, Chennai
- Mahendra and
Mahendra, Chennai
Website Details:
Profile:
Subject is
Exclusive Dealers for Carrier
Airconditioning & Refrigeration Limited (Formely M/s. Carrier
Aircon Limited) for the past 18 years. Suibject commenced
operations in 1990 and are managed by Mr.
R.L. Scen and Mr. R.N. Basheer Ahmed.
This exclusive dealership of Carrier Aircon Limited has
grown into one of the Top Dealership of Carrier Aircon Limited in India.
Subject has been achieving the Best Sales and Service Awards for the past 10
years and today they have grown to be one of the most trusted and reputed name
in the Airconditioning industry.
They have a client base of more than 18 thousand satisfied customers and
they have been associated with all major projects in Tamilnadu.
Subjects are dealers for the entire range of Carrier
products which includes Window
Room Air conditioners / Non Ducted Splits / Ducted Splits / Chillers / Fan Coil
Units / Bottle Coolers / Deep Freezers & Cold Rooms.
Subject is also Franchisee for Emerson India Limited for
Installation and Service for their precision range of air conditioners.
In order to meet the service requirements of their customers
they have offices in Chennai /
Pondicherry / Trichy / Madurai & Coimbatore.
Company employs more than 120 people
and all their sales and service personnel have been trained and certified by
Carrier Aircon Limited
Their Engineers are trained to advise customers in
air-conditioning and refrigeration projects and are qualified to consult the
customer on their specific Air-Conditioning / Refrigeration requirements.
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.42.20 |
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UK Pound |
1 |
Rs.81.48 |
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Euro |
1 |
Rs.64.27 |
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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