MIRA
INFORM REPORT
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Report Date : |
18.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
HARI ELECTRIC COMPANY |
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Registered Office : |
F-65, 52, Focal Point, Mandi Gobindgarh – 147301, Punjab |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
1998 |
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IEC No.: |
3007014450 |
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TIN No.: |
03621003371 |
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PAN No.: [Permanent
Account No.] |
AACFH5034M |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer of Insolators, Pannels etc. and Trading of Electrical
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 15000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually 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 usually correct and as per commitments. The concern is doing well. It can be considered normal for business dealings at usual trade terms
and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Rajan Sharda |
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Designation : |
Proprietor |
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Contact No.: |
91-9855479613 |
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Date : |
12.08.2008 |
LOCATIONS
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Registered Office/ Factory : |
F-65, 52, Focal Point, Mandi Gobindgarh – 147301, Punjab, India |
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Tel. No.: |
91-1765-252613 |
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Mobile No.: |
91-9855479613 (Rajan Sharda) / 9814179613 (Hotesh Sharda) |
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Fax No.: |
91-1765-252613 |
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E-Mail : |
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Website : |
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Area : |
500 sq. yds. |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Rajan Sharda |
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Designation : |
Proprietor |
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Address : |
Mandi Gobingarh |
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Date of Birth/Age : |
32 years |
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Qualification : |
Graduate |
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Experience : |
10 years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Insolators, Pannels etc. and Trading of Electrical
Equipment. |
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Products: |
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Exports : |
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Products : |
Electric Pannels etc. |
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Countries : |
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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 : |
25 (Office – 5 and Factory – 20) |
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Bankers : |
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Banking
Relations : |
Satisfactory |
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Auditors : |
Not Regular |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.3.000 Millions |
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Borrowed : |
- |
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Total : |
Rs.3.000 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
SUMMARIZED
FIGURE
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Particulars |
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31.03.2008 |
31.03.2007 |
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Proprietors Capital |
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3.000 |
3.000 |
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Current Liability |
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7.700 |
7.420 |
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Fixed Assets |
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4.300 |
2.320 |
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Investment |
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0.515 |
1.000 |
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Inventories |
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3.200 |
3.123 |
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Cash and Bank Balance |
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0.210 |
0.206 |
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Miscellaneous Expenses |
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0.057 |
0.040 |
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Sales Turnover |
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0.135 |
1.027 |
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Profit Before Tax |
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1.250 |
1.160 |
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LOCAL AGENCY
FURTHER INFORMATION
Trade Reference:
- H. M. Sales,
Kala AMB (H. P)
- Gilbert
ISPAT, Baddi, (H.P)
- Mukesh Udyog, Ludhiana
WEBSITE DETAILS:
PROFILE:
Subject has, in
a relatively short span of time, established a strong foothold in the highly
competitive market. Established in the year 2002, they have, with sheer
determination and hard work, come to be recognized as an eminent manufacturer, exporter and supplier of
electrical products including Transformers,
Vacuum Circuit Breakers, Control Panels, Relay Panels, C & R Panels, L.T
Panels and V.C.B Panels, HT & EHT and Substation Equipments, Power and
Energy Measurement Instruments, Power Grids, Capacitors and Reactors and many
other such related products.
Each product manufactured by them is made to the exacting engineering
specifications, using the finest quality materials and workmanship. They are
capable of standing the test of time and are high on all parameters of quality,
precision and performance. Owing to their commitment towards providing nothing
short of the best to their clients, they have established a strong clientele
base not only in the domestic market but also in the international market as
well.
Around 60% of their produce is exported to Kenya, Africa, Europe, Gulf Countries, Asia,
and many other places across the globe. They are proud of their long standing
relationship with some eminent companies like Mukesh Udyog (LDH), H.M. Steel,
Gillvert Radiant Textile, Punjab Steel, amongst others.
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 |
6 |
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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 |
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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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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