MIRA
INFORM REPORT
|
Report Date : |
19.08.2008 |
IDENTIFICATION
DETAILS
|
Name : |
FAIRDEAL AGENCIES PROPRIETOR GOYAL AGENCIES LIMITED |
|
|
|
|
Registered Office : |
Mandi Road, Jalandhar – 144001, Punjab. |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2007 |
|
|
|
|
Date of Incorporation : |
14.05.1985 |
|
|
|
|
Com. Reg. No.: |
006276 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U51909PB1985PLC006276 |
|
|
|
|
IEC No.: |
3096007641 |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAACG4840B |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Company |
|
|
|
|
Line of Business : |
Manufacturer, Trader, Dealer, Distributor, Exporter and Importer of
Panasonic Beand Welding Machines, Branded Items of Gundwell Norton, Erab
Electrodes, Ralli Walf Machines, Select arc Welding Roads, Adar Branded
Welding Rods. |
RATING &
COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 36690 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established company having satisfactory track.
Financial position is satisfactory. Payments are usually correct and as per
commitments. The company can be considered good for normal business dealings
at usual trade terms and conditions. It berg prominent agency having in Jalandhar, dreams may have contacts
with local partitions (Goonda) |
INFORMATION PARTED
BY
|
Name : |
Mr. Rajindar Prasad |
|
Designation : |
Director |
|
Contact No.: |
91-9814665249 |
|
Date : |
14.08.2008 |
LOCATIONS
|
Registered Office : |
Mandi Road, Jalandhar – 144001, Punjab. |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Rented |
|
|
|
|
Registered Office : |
Nehru Garden Road, Jalandhar, Panjab. |
|
Tel. No.: |
91-181-2457006 / 8 / 5030555 |
|
Mobile No.: |
91-9814665249 |
|
Fax No.: |
91-181-2456468 |
|
Location : |
Rented |
|
|
|
|
Branch 1 : |
G.T. Road, Hero Cycles, Ludhiana |
|
Tel. No.: |
91-161-5032800 / 5032777 / 5032971 |
|
Fax No.: |
91-161-2675413 |
|
E-Mail : |
|
|
|
|
|
Branch 2 : |
233-34, 1st Floor, Ajmeri Gate, Delhi – 110006 |
|
Tel. No.: |
91-11-23231800 / 32440960 |
|
Fax No.: |
91-11-23221112 |
|
E-Mail : |
|
|
|
|
|
Branch 3 : |
36 MW, Industrial Area, Phase – 1, Chandigarh |
|
Tel. No.: |
91-172-5018965 |
|
Telefax No.: |
91-172-5019425 |
|
E-Mail : |
|
|
|
|
|
Branch 4 : |
Plot No. – 39, Sector – 1, Shivane Nerul, Navi Mumbai |
|
Tel. No.: |
91-22-27721997 |
|
Mob No.: |
91-9323184417 |
|
E-Mail : |
|
|
|
|
|
Branch 5 : |
Plot No. 164, Udyog Vihar, Phase VI, Gurgaon |
|
Tel. No.: |
91-124-3209963 |
|
Fax No.: |
91-124-4265769 |
|
Mob No.: |
91-9312283653 |
|
E-Mail : |
|
|
|
|
|
Branch 6 : |
M/s. Farideal Agencies FZE, RAK Free Trade Zone, PO Box 10559, Ras Al
Khaimah, United Arab Emirates |
|
Tel. No.: |
91-97172077375 |
|
Fax No.: |
9717- 2041010 |
|
Mob No.: |
91-9814065250 |
|
E-Mail : |
|
|
|
|
DIRECTORS
|
Name : |
Mr. Rajinder Goyal |
|
Designation : |
Director |
|
Address : |
Moh. No.2, H. No. 3-4/8, Jalandhar Cautt. |
|
Date of Birth/Age : |
56 Years |
|
Qualification : |
Graduate |
|
Experience : |
30 Years |
|
|
|
|
Name : |
Mr. Girdhar Goyal |
|
Designation : |
Director |
|
Address : |
Moh. No.2, H. No. 3-4/8, Jalandhar Cautt. |
|
Date of Birth/Age : |
46 Years |
|
Qualification : |
Graduate |
|
Experience : |
25 Years |
|
|
|
|
Name : |
Mrs. Suman Goyal |
|
Designation : |
Director |
|
Address : |
Moh. No.2, H. No. 3-4/8, Jalandhar Cautt. |
|
Date of Birth/Age : |
43 Years |
|
Qualification : |
Graduate |
|
Experience : |
4 Years |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Trader, Dealer, Distributor, Exporter and Importer of
Panasonic Beand Welding Machines, Branded Items of Gundwell Norton, Erab Electrodes,
Ralli Walf Machines, Select arc Welding Roads, Adar Branded Welding
Rods. |
|
|
|
|
Products : |
|
|
|
|
|
Exports : |
|
|
Products : |
Panasonic Brand Weld M/C |
|
Countries : |
Dubai and USA |
|
|
|
|
Imports : |
|
|
Products : |
Panasonic Brand Weld, M/C Selectarc Welding Rods, Copper Ceated Steel
Wise |
|
Countries : |
China, Japan and France |
|
|
|
|
Terms : |
|
|
Selling : |
L/C |
|
|
|
|
Purchasing : |
L/C, Cash and Credit (30 Days) |
GENERAL
INFORMATION
|
Customers : |
Wholesalers, Retailer and End Users. ·
HERO- GROUP
|
|
|
|
|
No. of Employees : |
25 |
|
|
|
|
Bankers : |
HDFC Bank - Jalandhar Bank of Baroda – Jalandhar |
|
Auditors : |
|
|
Name : |
Not Divulged |
CAPITAL STRUCTURE
AS ON 31.03.2008
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
500000 |
Equity Shares |
Rs. 10/- Each |
Rs.5.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
357140 |
Equity Shares |
Rs. 10/- Each |
Rs.3.571 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2007 |
31.03.2006 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
3.090 |
3.090 |
|
|
2] Share Application Money |
|
0.800 |
0.000 |
|
|
3] Reserves & Surplus |
|
3.448 |
3.745 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
7.338 |
6.835 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
68.851 |
49.743 |
|
|
2] Unsecured Loans |
|
53.131 |
45.550 |
|
|
TOTAL BORROWING |
|
121.982 |
95.293 |
|
|
DEFERRED TAX LIABILITIES |
|
|
|
|
|
|
|
|
|
|
|
TOTAL |
|
129.320 |
102.128 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
19.076 |
15.145 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.012 |
0.012 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
64.170 |
65.055 |
|
|
Sundry Debtors |
|
80.363 |
58.740 |
|
|
Cash & Bank Balances |
|
1.998 |
1.891 |
|
|
Other Current Assets |
|
1.202 |
0.858 |
|
|
Loans & Advances |
|
1.208 |
1.212 |
|
Total
Current Assets |
|
148.941 |
127.756 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
|
38.261 |
40.616 |
|
|
Provisions |
|
0.448 |
0.169 |
|
Total
Current Liabilities |
|
38.709 |
40.785 |
|
|
Net Current Assets |
|
110.232 |
86.971 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
129.320 |
102.128 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
|
|
Sales Turnover |
|
390.631 |
307.566 |
|
|
Other Income |
|
2.258 |
2.365 |
|
|
Total Income |
|
424.119 |
341.161 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
|
0.437 |
0.702 |
|
|
Provision for Taxation |
|
0.000 |
0.000 |
|
|
Profit/(Loss) After Tax |
|
0.437 |
0.702 |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Cost of Goods Sold |
|
348.704 |
275.715 |
|
|
Administrative Expenses |
|
33.706 |
26.770 |
|
|
Interest |
|
6.285 |
5.753 |
|
|
Depreciation & Amortization |
|
3.757 |
0.991 |
|
|
Other Expenditure |
|
31.262 |
31.230 |
|
Total Expenditure |
|
423.682 |
340.459 |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2007 |
31.03.2006 |
|
PAT / Total Income |
(%) |
|
00.10 |
00.20 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
00.11 |
00.22 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
00.26 |
00.49 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
05.95 |
10.27 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
21.89 |
19.908 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
3.84 |
3.13 |
LOCAL AGENCY FURTHER
INFORMATION
Trade Reference (Exporter)
M/S BSL Gulf L.L.C., Part Box No. 65525, Dubai
(UAE)
Trade Reference (Importer)
M/S Panasonic Factory Solution Asia Pacific
285 Jalan Ahmed Ibrehim, Singapur.
Trade Reference
Panasonic Factory Solution Asia Pacific
Private Limited
Contact Person – Anan Jain
Phone No. 91-11-28292870
Grindwell Norton Limited
Contact Person – Manjet Nath
Mob No. 91-9815906598
Authorizes Dealer
- Panasonic Welding – Japan
- Select Arc Industries – France
- American Torch Tip Co.- USA
- Raliwolf Limited
- Pana Arc – Wire
- Bhutan Carbide and Chemicals Limited
- Ador Welding Limited
- Saint Gobain Group
- Usha Martain Limited
- Larsen and Turbo Limited
- Siam Furukawa – Japan
- Esab India Limited
- Makita Japan
- Southern Industrial Corporation
- Cease Fire Industries
Authorized Distributors
Indian Gases
Manufacturer of Acetelyne Gases
Selectarc Electrodes
Bhutan Carbide and Chemicals Limited
Panasonic Industrial Asia PTE Limited
Saint – Gobain Vetrotex India Limited
Grindwell Norton Limited
Indian Air Product
Manufacturer of Oxygen and Nitrogen Gases
Galaxy Chains (Private) Limited
Ador Welding Limited
Esab India Limited
Ralliwolf / Makita Tools
Southern Industrial Corporation
Goyal Air Product
Manufacturer of High Purity Oxygen and
Nitrogen Gases
Usha Martin Limited
Hi- Tech Engineers
Cease Fire Industries Limited
B O C India Limited
TBI Industries Limited
KEY REPRESENTATIONS – PRODUCT PROFILE
Today they represent most
prestigious International as well as Indian Industrial conglomerates. For the
kind consideration they are giving here under the brief of the companies
represented by them.
|
AUTHORISED SERVICE
CENTRES
We are having well equipped
Authorizes service Centers manned by competent and well- trained engineers who have
got special training from their Principals. After sales service is a key to the
enhanced Product life cycle. Following is a list of their Principal for whom we
have authorized service centers
- Panasonic Industrial Asia Pte. Limited
- Ralliwolf Limited
- Ador Welding Limited
- Usha Ismal Limited
- Makita Tools india Limited
- Bateries.
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.43.23 |
|
UK Pound |
1 |
Rs.80.89 |
|
Euro |
1 |
Rs.63.80 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
60 |
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
|
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 |
|
