MIRA
INFORM REPORT
|
Report Date : |
18.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
SUNRISE EXPORT |
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Registered Office : |
205, Shiv Darshan, M.G. Road, Opp. Railway Station, Santa Cruz (West),
Mumbai 400054, Maharashtra. |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Year of Establishment : |
1997 |
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Legal Form : |
Sole Proprietary Concern |
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Line of Business : |
Exporter and Manufacturer of Safety Matches, Talc, Shrink Labels and
Sleeves for Pakaging, Shrink Wrapping Machine, BOPP Self Adhesive Tapes
Plain and Un-printed. |
RATING &
COMMENTS
|
MIRAs Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 2610 |
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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 can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
205, Shiv Darshan, M.G. Road, Opp. Railway Station, Santa Cruz (West),
Mumbai 400054, Maharashtra, India |
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Tel. No.: |
91-22-26048515 / 1357 |
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Mobile No.: |
91-9821277629 |
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Fax No.: |
26041357 |
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E-Mail : |
Chandsun@bom3vsnl.net |
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Area : |
300 sq ft |
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Location : |
Owned |
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Head Office : |
16A/ 1, Prathamesh, MHADA, Near Poonam Nagar, Off. Mahakali Caves
Road, Andheri (East), Mumbai 400093, Maharashtra. |
SOLE PROPRIETOR
|
Name : |
Mr. Kishore S. Chandni |
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Designation : |
Proprietor |
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Date of Birth/Age : |
46 Years |
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Qualification : |
Graduate |
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Experience : |
21 Years |
BUSINESS DETAILS
|
Line of Business : |
Exporter and Manufacturer of Safety Matches, Talc, Shrink Labels and Sleeves
for Pakaging, Shrink Wrapping Machine, BOPP Self Adhesive Tapes Plain and
Un-printed. |
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Products : |
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Exports : |
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Products : |
Safety Matches, Talc, Shrink Labels and Sleeves for Pakaging, Shrink
Wrapping Machine, BOPP Self Adhesive Tapes Plain and Un-printed. |
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Countries : |
USA, UK, Canada, Germany, Russia |
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Terms : |
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Selling : |
L/C |
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Purchasing : |
Cash and Credit (30 Days and 60 Days) |
PRODUCTION STATUS
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Particulars |
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Capacity
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CA 123 |
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120 GMS |
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CB 220 Lab Scale (Shield) |
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220 GMS |
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CB 350 Lab Scale (Shield) |
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350 GMS |
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CT 601 Lab Scale (Shield) |
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600 GMS |
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CB 1201 Lab Scale |
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1200 GMS |
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CA 1202 Lab Scale (Shield) |
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1200 GMS |
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CB 5000 Table Top (Shield) |
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5000 GMS |
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Elegant 6K1 (Table Top / With Tray) |
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6 KGS |
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CT 1005 (Table Top) |
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10 KGS |
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CT 15K 1 (Table Top) |
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15 KGS |
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CT 25K 5 (Table Top) |
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25 KGS |
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CP 50K 5 (Platform) |
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50 KGS |
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CP 120K 10 (Platform) |
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120 KGS |
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CP 200K 20 (Platform) |
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200 KGS |
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CP 300K 50 (Platform) |
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300 KGS |
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CP 500K 50 (Platform) |
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500 KGS |
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CP IT 200 1 Tonne (Platform) |
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1000 KGS |
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Hanging Scale |
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300 KGS |
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Hanging Scale |
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500 KGS |
GENERAL
INFORMATION
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Customers : |
Wholesaler and Importer |
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No. of Employees : |
8 |
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Bankers : |
IDBI Bank, MIDC, Andheri (E) |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Bharat Mehta and Associates Chartered Accountant |
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Associates/Subsidiaries : |
Sneras International |
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Line of Business
: |
Exporter |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2008 |
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Sales Turnover |
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60.000 |
Expected Sales (2008-09) : Rs.80.000 Millions
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2007 |
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SHAREHOLDERS FUNDS |
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1] Proprietary Capital A/c |
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0.522 |
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2] Share Application Money |
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0.000 |
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3] Reserves & Surplus |
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0.000 |
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4] (Accumulated Losses) |
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0.000 |
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NETWORTH |
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0.522 |
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LOAN FUNDS |
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1] Secured Loans |
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0.137 |
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2] Unsecured Loans |
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1.619 |
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TOTAL BORROWING |
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1.756 |
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DEFERRED TAX LIABILITIES |
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0.000 |
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TOTAL |
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2.280 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.450 |
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Capital work-in-progress |
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0.000 |
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INVESTMENT |
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0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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Sundry Debtors |
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1.294 |
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Cash & Bank Balances |
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0.923 |
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Other Current Assets |
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0.719 |
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Loans & Advances |
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3.519 |
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Total
Current Assets |
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6.455 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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4.625 |
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Provisions |
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0.000 |
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Total
Current Liabilities |
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4.625 |
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Net Current Assets |
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1.829 |
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MISCELLANEOUS EXPENSES |
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0.000 |
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TOTAL |
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2.280 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2007 |
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Sales Turnover |
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25.792 |
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Other Income |
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1.379 |
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Total Income |
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27.171 |
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Net Profit |
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0.333 |
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Expenditures : |
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Administrative Expenses |
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1.707 |
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Depreciation & Amortization |
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0.107 |
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Other Expenditure |
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25.024 |
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Total Expenditure |
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26.838 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
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PAT / Total Income |
(%) |
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01.22 |
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Net Profit Margin (PBT/Sales) |
(%) |
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01.29 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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04.82 |
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Return on Investment (ROI) (PBT/Networth) |
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63.79 |
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Debt Equity Ratio (Total Liability/Networth) |
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12.22 |
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Current Ratio (Current Asset/Current Liability) |
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1.39 |
LOCAL AGENCY
FURTHER INFORMATION
Trade Reference
(Export)
- Africa
- Middle East
Trade Reference
- Vardha Plastics
- Siddhi Vinayak Indeustry Borivali Mr. Harsh Bajaj (Tel. No.
9321530575)
- M/s. Sanket Packsheel Machanes Mr. Kumar 28456947 Dahisar.
Trustseal Acceptance
Chart
|
Existence Verification |
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Name |
Sunrise Exports |
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Income Tax Registration |
ACKPL7692N |
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Central Sales Tax Registration |
2760054902 C |
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VAT/ TIN Registration |
2760054902 - V |
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Import Export Code |
0300043368 |
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Name of Bank |
IDBI Bank |
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Current Account Number |
102000005050 |
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Account Since |
7 Years |
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 Intl
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 companys 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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.42.82 |
|
UK Pound |
1 |
Rs.80.01 |
|
Euro |
1 |
Rs.63.83 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
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 |
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 |
|
46 |
This score serves as a reference to assess SCs 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
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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