MIRA
INFORM REPORT
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Report Date : |
18.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
BENSON REFRIGERATION AND AC SYSTEMS |
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Registered Office : |
F 48, Industrial Area, Focal Point, Phase 7, Mohali (Near Chandigarh),
Mohali – 160 055, Punjab |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
1988 |
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PAN No.: [Permanent
Account No.] |
AASBP4549C |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer of Refrigeration Equipment. |
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 10000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established concern having satisfactory track. Trade relations are fair. Payments are reported as slow but correct. The concern can be considered normal for business dealings at usual
trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Surinder Singh Bedi |
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Designation : |
Proprietor |
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Date : |
02.08.2008 |
LOCATIONS
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Registered Office/ Factory : |
F 48, Industrial Area, Focal Point, Phase 7, Mohali (Near Chandigarh),
Mohali – 160 055, Punjab, India. |
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Tel. No.: |
91-172-4656616 |
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Mobile No.: |
91-9815526616 |
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Fax No.: |
91-172-4656616 |
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E-Mail : |
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Website : |
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Area : |
1 Kanal -double storey |
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Location : |
Owned |
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Factory 2: |
Located at Industrial Area, Ludhiana |
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Area : |
500 sq ft |
SOLE PROPRIETOR
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Name : |
Mr. Surinder Singh Bedi |
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Designation : |
Proprietor |
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Address : |
Mohali |
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Date of Birth/Age : |
60 Years |
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Qualification : |
Graduate |
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Experience : |
35 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Refrigeration Equipment. |
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Products : |
· Water Chilling Plant · Scroll Chiller Air Cooled & Water Cooled / Pharmaceutical Brine Plant · Ice Bank Type Air Cooled Chiller · Copper Cooling Coils for Ice Bank Water Storage Type Chilling Plants |
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Terms : |
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Selling : |
Cash and Credit 30 days |
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Purchasing : |
Cash and Credit 30 days |
GENERAL
INFORMATION
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Customers : |
End Users |
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No. of Employees : |
27 (In office-5, In factory-22) |
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Bankers : |
· Oriental Bank of
Commerce Sector 3 B-2, Mohali |
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Facilities : |
Rs.1.000 Million |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Ram Pal and Company Chartered Accountants |
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Address : |
Sector 38, Chandigarh |
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Associates/Subsidiaries : |
NIL |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.2.000 Millions |
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Borrowed : |
-- |
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Total : |
Rs.2.000 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
SUMMARISED RESULTS
(Balance Sheet)
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PARTICULARS |
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31.03.2008 |
31.03.2007 |
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Proprietor’s
Capital |
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2.000 |
1.850 |
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Loan Funds |
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1] Secured Loans |
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0.500 |
0.000 |
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2] Unsecured Loans |
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0.000 |
1.000 |
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Fixed Assets
[Net Block] |
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2.700 |
2.500 |
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Current Assets,
Loans & Advances |
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Inventories |
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3.000 |
3.765 |
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Cash & Bank Balances |
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0.250 |
0.180 |
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Loans & Advances |
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4.700 |
3.500 |
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Current
Liabilities & Provisions |
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Current Liabilities |
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3.800 |
3.000 |
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Miscellaneous
Expenses |
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1.075 |
1.012 |
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PROFIT & LOSS
ACCOUNT
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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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15.000 |
12.700 |
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Other Income |
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0.000 |
0.000 |
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Total Income |
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15.000 |
12.700 |
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Profit/(Loss) Before Tax |
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0.660 |
0.540 |
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Provision for Taxation |
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-- |
-- |
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Profit/(Loss) After Tax |
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0.660 |
0.540 |
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Total Expenditure |
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14.340 |
12.160 |
KEY RATIOS
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PARTICULARS |
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31.03.2008 |
31.03.2007 |
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PAT / Total Income |
(%) |
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4.40 |
4.25 |
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Net Profit Margin (PBT/Sales) |
(%) |
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4.40 |
4.25 |
LOCAL AGENCY
FURTHER INFORMATION
TRUSTSEAL ACCEPTANCE CHART:
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Parameters |
Detail |
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Existence
Verification |
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Name |
BENSON REFRIGERATION AND AC SYSTEMS |
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Address |
F 48, Industrial Area, Focal Point, Phase 7, Mohali (Near Chandigarh),
Mohali – 160 055, Punjab, India. |
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2nd
Address |
F 48, Industrial Area, Focal Point, Phase 7, Mohali (Near Chandigarh),
Mohali – 160 055, Punjab, India. |
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Phone/Mobile
Numbers |
Phone No. 91-172-4656616 Mobile No. 91-9815526616 |
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Electricity Bill |
Electricity Bill in the name of the concern
Refrigeration Plants and AC System Plant |
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Statutory
Approvals |
PROP. |
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Legal Status Of
Firm |
Mr. Surinder Singh Bedi Aged 60 Years |
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Income Tax
Registration |
AASBP4549C |
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Central Sales
Tax Registration |
Not Provided |
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Service Tax
Registration |
NA |
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Name Of the Bank |
Oriental Bank of Commerce |
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Account Since |
2005 |
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Emp PF Reg
Number |
ND |
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Company ESI Reg.
Number |
ND |
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RBI Code Number |
AASBP4549C |
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Credibility
Factors |
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India Mart
Client Since |
New Member |
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Years Of
Establishment |
1988 |
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Trade
Affiliations |
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Export Promotion
Council |
Mohali Ind. Association |
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Standards and
Certifications |
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Quality
Management Systems |
YES |
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Safety
Certificates |
YES |
TRADE REFERENCES:
· Gates India Limited – Lalru
· Chemiplant – Purwanoo
· Super Plast - Paurwanoo
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.42.82 |
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UK Pound |
1 |
Rs.80.01 |
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Euro |
1 |
Rs.63.83 |
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 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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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 |
NO |
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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 |
NO |
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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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46 |
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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