MIRA
INFORM REPORT
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Report Date : |
25.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
GADSON ELECTRONICS |
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Registered Office : |
Plot No. 9, Road 2, Sector 19, New Panvel, Mumbai – 410 206,
Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
1990 |
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IEC No. : |
0303080159 |
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PAN No.: [Permanent
Account No.] |
ACHPK9913H |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer, Exporter and Importer of Plastic Solenoid Valve,
Metallic Solenoid Valve. |
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 5000 |
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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. |
INFORMATION PARTED
BY
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Name : |
Mr. Prarthajeet Kulkarni |
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Designation : |
Proprietor |
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Contact No.: |
91-9323116384 |
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Date : |
20.08.2008 |
LOCATIONS
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Registered Office : |
Plot No. 9, Road 2, Sector 19, New Panvel, Mumbai – 410 206, Maharashtra,
India |
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Tel. No.: |
91-22-27453474 |
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Mobile No.: |
91-9323116384 |
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Fax No.: |
91-22-27450295 |
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E-Mail : |
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Website : |
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Area : |
800 Sq. ft. |
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Location : |
Owned |
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Factory : |
Panvel Taluka, Bharsari, Dist. Raigad |
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Area : |
3000 Sq. ft. |
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Location : |
Rented |
PROPRIETOR
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Name : |
Mr. Prarthajeet Kulkarni |
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Designation : |
Proprietor |
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Date of Birth/Age : |
39 Years |
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Qualification : |
B.E. (Electronics) |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Exporter and Importer of Plastic Solenoid Valve,
Metallic Solenoid Valve. |
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Products : |
v Plastic Solenoid
Valve v Metallic
Solenoid Valve v Water Level
Sensor v Solenoid
Actuators v Washing Machine
Switches v Vending Machine-
Controller |
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Exports : |
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Products : |
v Plastic Valves |
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Countries : |
v Europe |
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Imports : |
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Products : |
v Raw Materials |
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Countries : |
v Malaysia v China |
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Terms : |
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Selling : |
L/C, Credit ( 30-60-90 Days) |
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Purchasing : |
L/C, (Telegraphic Transfer) |
GENERAL
INFORMATION
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Customers : |
v End Users v OEM’s v Merloni v Parker Hannifin,
USA v Electrolux v Godrej v Phillips v National v Siemens |
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No. of Employees : |
Total : 13 (Office : 3, Factory : 10) |
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Bankers : |
v State Bank of
India Panvel, Mumbai – 410 206, Maharashtra, India |
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Facilities : |
CC – Rs. 1.200 millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Marathe Associates Chartered Accountants |
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Address : |
Panvel, Mumbai – 410 206, Maharashtra, India |
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Sister Concerns : |
v Carlton System Address : Plot No. 9, Road
2, Sector 19, New Panvel, Mumbai – 410 206, Maharashtra, India |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 1.000 million (Estimated) |
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Borrowed : |
-- |
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Total : |
Rs. 1.000 million (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 |
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20.000 |
Expected Sales (2008-09): Rs. 27.500 millions
LOCAL AGENCY
FURTHER INFORMATION
Trade References
v Parker Money Limited
v Vishay Private Limited
Trust Seal Acceptance Chart
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Parameters |
Details |
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Existence Verification |
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Name |
Gadson Electronics |
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Statutory Approvals |
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Legal Status of Firm |
Proprietorship |
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Income Tax Registration |
ACHPK9913H |
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Import Export Code |
0303080159 |
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VAT/TIN Registration |
27650019815V |
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Name of Bank |
State Bank of India |
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Current Account Number |
11035387600 |
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Account Since |
1990 |
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RBI Code Number |
SBIN0000448 |
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Credibility Factors |
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India Mart Client Since |
2 Years |
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Trade Affiliations |
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SSI Registration |
11/12/80413 Dt.: 1990 |
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Standards and Certifications |
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Quality Management Systems (ISO) |
32377 Dt.: 13.06.2008 to 28.06.2011 |
As Per Website Details
Established in the year 1980, Subject is a renowned name in
the industry engaged in manufacturing and exporting of electro-mechanical
components. They cater to the increasing requirements of the growing electrical
appliances market. The all encompassing range of the products includes Plastic Solenoid Valve, Metallic Solenoid
Valve, Water Level Sensor, Solenoid Actuators, Washing Machine Switches and
Vending Machine Controller.
The spectrum of the products is applicable in different Washing Machines, UV/RO
water purifiers, DishWashers, Vending Machines.
Under the leadership of Mr. Prarthajeet Kulkarni, who is the Chief Executive
Officer of the concern, they are constantly engaged in designing and
re-engineering of various products with regards to mechanical as well as
electronic aspects. They are aided by a qualified workforce and advanced
infrastructure in the endeavour. The specialization lies in manufacturing the
products within the premises that prevents wastage of time and cuts
manufacturing costs.
Throughout the manufacturing process, the efforts are focused towards
developing innovative products and changing the ideas into workable products.
For this purpose they have a talented set of engineers who are further guided
by the CEO, Mr. Kulkarni who has about 27 years of experience in running the
concern successfully in this industry.
The Sophisticated Infrastructure
They are supported by a well oiled infrastructure that comprises of a large
production unit that is spread over an expanse of 7500 sq. ft. and an office
area of 750 sq. ft. The availability of such a large area facilitates easy
movement of man and machine. They count the technically advanced CAD section, R
and D section and tool room as one of the biggest strengths. The presence of
these three major division results in better researching that further results
in designing of innovative products and last but not the least, a tool room
that manufactures flawless products. The various facilities at the vast
premises comprise of the following:
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Tool
room
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Plastic
molding shop
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Winding
shop
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Press
shop
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Electronic
assembly line with wave soldering facility
v
Rubber
molding shop
v
Bakelite
shop
v
CAD/CAM
section
To manage such a technically advanced unit, they have the backing of close to
200 + workers who have expertise in diverse operations. They have a competent
team of engineers, technocrats, software professionals and allied workers. It
is their sheer dedication and hard work that has paid off in the form of the
concern’s tremendous success.
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. 43.38 |
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UK Pound |
1 |
Rs. 81.34 |
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Euro |
1 |
Rs. 64.55 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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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 |
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45 |
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, they have no basis upon which to
recommend credit dealings |
No Rating |
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