MIRA
INFORM REPORT
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Report Date : |
22.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
ASSOICATED LIGHTING COMPANY |
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Registered Office : |
101 – 102 NSEZ, Phase II, Noida – 201 305, Uttar Pradesh |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
2006 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MRTA02332B |
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PAN No.: [Permanent
Account No.] |
AALFA4589P |
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Legal Form : |
Partnership Concern with an Unlimited Liability of the Partner. |
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Line of Business : |
Manufacturer, Exporter and Importer of Hand Made Papers for Art and
Crafts. |
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 1000000 |
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Status : |
Good |
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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. The
concern is expanding it’s production huge. Trade relations are fair. Payments
are correct and as per commitments. The concern can be considered good for normal business dealings at
usual trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Naveen |
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Designation : |
Project Manager |
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Contact No.: |
91-9910692747 |
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Date : |
21.08.2008 |
LOCATIONS
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Registered Office / Factory : |
101 – 102 NSEZ Phase 2, Noida – 201305, Uttar Pradesh, India |
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Tel. No.: |
91-120-2462214/ 2562092 |
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Mobile No.: |
91-9910692447 |
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Fax No.: |
91-120-2562091 |
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E-Mail : |
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Website : |
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Area : |
100000 Sq. ft |
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Location : |
Owned |
PARTNERS
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Name : |
Mr. Arjun Nath |
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Designation : |
Partner |
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Date of Birth/Age : |
37 Years |
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Qualification : |
Graduate from Cicago, USA |
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Experience : |
5 Years |
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Name : |
Mr. Ashok Nath |
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Designation : |
Partner |
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Date of Birth/Age : |
61 Years |
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Qualification : |
Graduate |
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Experience : |
20 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Exporter and Importer of Hand Made Papers for Art and
Crafts |
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Products : |
v Carbib Arc Lamps
v Shade Lamps |
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Exports : |
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Products : |
v Carbib Arc Lamps
v Shade Lamps |
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Countries : |
v USA v Europe v North America v Great Britain v Ja]an v China v Taiwan v Malaysia v Canada |
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Imports : |
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Products : |
v Machinery |
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Countries : |
v Italy v China v Australia |
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Terms : |
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Selling : |
L/C, Cash ( 100% Exports) |
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Purchasing : |
L/C, Cash and Credit |
GENERAL
INFORMATION
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Customers : |
v Local Customers v End Users v
Automatic Nickel Plating Plant v
Electrophoratic Lacquer Plant v
Automatic Zinc Plating Plant v
Copper Plating Plant v
Ring Frame Manufacturing Plant v
Dyeing and Embroidery Unit v
Shade Manufacturing Unit. |
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No. of Employees : |
655 (55 Office, 600 Factory) |
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Bankers : |
v ABN Amro Bank Barakhamba Road, New Delhi – 110001, India |
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Facilities : |
The concern does not enjoy facilities from its bankers |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
S.R. Denodia and Company Chartered Accountants |
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Address : |
New Delhi – 110001, India |
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Sister Concerns : |
v Ashok Estate Barakhamba Road, New Delhi v Afoli Inc. |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 200.000 millions (Estimated) |
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Borrowed : |
-- |
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Total : |
Rs. 200.000 millions (Estimated) |
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 (Estimated) |
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1000.000 |
Expected Sales (2008-09): Rs. 1500.000 millions
LOCAL AGENCY
FURTHER INFORMATION
Trade References
v
Potry Ban Limited – USA
v
Ikea Traoling Company – Europe
v
Home Depoe- America
As Per Website Details
Infrastructure
Subject boasts of a robust infrastructure with an ideal blend of man and
machinery. The internal structure consists of sixteen production lines.
The massive workforce employed by us has immense expertise in handling the
latest technology machinery with a large degree of ease and comfort. There are
a total of more than 500 professionals designated at departments like
Production, Quality Control, R&D, etc. The state-of-the-art warehouse helps
us stock bulk produce to meet all types of market demands.
New Development
They also have a state-of-the-art tooling facility with a joint venture. The
facility is backed by a competent Design Team, which designs cost effective
products. The designing facilities include,
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Solid Modeling
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Reverse Engineering
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Value Engineering
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Prototyping, etc.
Machines employed while designing include Pro-engineer Ideas-Nx, Solid Edge Auto Cad, Ansys Del Cam, etc.
Products
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Transformer Based Lighting Fixtures
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Lighting Accessories
Ø
Lamps and Shades
Ø
Paper Based Lamp
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Portable Lighting
Ø
Pendant
Ø
Ceiling
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Plastic Thermoforming: Material Handling and Assembly Line Trays, Polyethylene - HDPE,
Polystyrene - HIPS, Polypropylene - PP, Acrylo Nitryl Butadine Styrene - ABS,
etc.
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Sheet Metal Stamping: Electrical, Automotive and White goods
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Mouldings: Compression,
Railway Windows, Disconnect Insulator
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Lighting Division:
Shade, Lamp & Lamp with Shade, Chandeliers, Transformer Based Lighting
Fixtures and Other Lighting Accessories
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Protection Devices: Bullet Resistant Helmets, Bullet Resistant Vests, Bullet Resistant
Jackets, Plastic Sheet Extrusion, etc.
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 :
The 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.
The 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. 43.58 |
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UK Pound |
1 |
Rs. 81.43 |
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Euro |
1 |
Rs. 64.52 |
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 |
6 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
6 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
6 |
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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 |
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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54 |
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/normal. |
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, they have no basis upon which to
recommend credit dealings |
No Rating |
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