MIRA
INFORM REPORT
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Report Date : |
18.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
HIMALAYA BRASS PRODUCTS |
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Registered Office : |
Plot No. 3, Haribhai’s Wadi, 49 Digvijay Plot Road, Sanker Tekri Udyog
Nagar, Jamnagar – 361 004, Gujarat |
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Country : |
India |
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Financials (as on) : |
31.12.2008 [Summarized] |
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Date of Incorporation : |
1995 |
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IEC No.: |
2402003618 |
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PAN No.: [Permanent
Account No.] |
AAUPV5165B |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer and Exporter
of Brass, Aluminium and other Metal Products. |
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 3000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a well – established and reputed company having
satisfactory track. Trade relations are fair. Business is active. Payments
are reported as slow to the suppliers. The concern can be considered normal for business dealings at usual
trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Vishal Vasoya |
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Designation : |
Marketing Manager |
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Contact No.: |
91-9427774756 |
LOCATIONS
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Registered Office / Factory : |
Plot No. 3, Haribhai’s Wadi, 49 Digvijay Plot Road, Sanker Tekri Udyog
Nagar, Jamnagar – 361 004, Gujarat, India |
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Tel. No.: |
91-288-2560210 |
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Mobile No.: |
91-9427774756 / 9825486400 / 9427283131 |
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Fax No.: |
91-288-2560210 / 2562526 |
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E-Mail : |
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Website : |
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Area : |
1500 Sq.fts |
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Location : |
Rented |
SOLE PROPRIETOR
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Name : |
Mr. Brijesh Parshotambhai Vasoya |
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Designation : |
Proprietor |
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Address : |
Plot No. 16 / B – 1.
St. No. 3, Shantinagar Society, Jamnagar - 361006, Gujarat |
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Date of Birth/Age : |
31 Years |
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Experience : |
11 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter
of Brass, Aluminium and other Metal Products. |
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Products: |
· Ultrasonic Insert · Press In Inert · Molding Insert · Brass Core Vent · Aluminium Core Vent · Electronic Connector Parts |
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Exports : |
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Products : |
Precision Brass Parts, Brass and MS Corevents |
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Countries : |
World Wide |
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Terms : |
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Selling : |
L/C, Cash |
GENERAL
INFORMATION
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Customers : |
Wholesalers, End Users, Others |
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No. of Employees : |
12 (2 in Office , 10 in Factory) |
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Bankers : |
Punjab National Bank, Hirji Mistry Road, Udyog Nagar , Jamnagar – 361
004, Gujarat, India |
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Banking
Relations : |
Satisfactory |
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Associates/Subsidiaries : |
Himalaya Metal Components Address : Plot No. 3, Haribhai Wadi, Shanker Tekri Udyog Nagar,
Jamnagar – 361 004, Gujarat, India Activity: Manufacturer of Aluminium and Steel Components. |
CAPITAL STRUCTURE
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Capital Investment : |
(as on
31.12.2008) |
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Owned : |
Rs. 0.695 Millions |
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Borrowed : |
--- |
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Total : |
Rs. 0.695 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
Summarized Figures
of (BALANCE SHEET) :-
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PARTICULARS
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31.12.2008 |
31.03.2008 |
31.03.2007 |
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Sources of Funds
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Proprietors Capital |
0.695 |
0.825 |
0.403 |
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Loan Funds |
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Secured loans |
-- |
-- |
0.086 |
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Current
Liabilities & Provisions |
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Current Liabilities |
0.180 |
0.383 |
0.243 |
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Application of
Funds |
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Fixed Assets |
0.468 |
0.386 |
0.386 |
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Investments |
0.125 |
0.125 |
0.106 |
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Inventories |
0.550 |
0.304 |
0.298 |
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Sundry Debtors |
[0.231] |
0.191 |
0.111 |
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Cash and Bank Balance |
0.500 |
0.178 |
0.115 |
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Loan and Advances |
0.017 |
0.003 |
0.003 |
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Miscellaneous expenses |
0.000 |
0.000 |
0.000 |
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Profit and loss A/C |
0.350 |
0.285 |
0.288 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.12.2008 |
31.03.2008 |
31.03.2007 |
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Sales Turnover |
NA |
3.473 |
3.905 |
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Other Income |
NA |
0.000 |
0.007 |
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Total Income |
NA |
3.473 |
3.912 |
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Profit/(Loss) Before Tax |
NA |
0.304 |
0.494 |
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Provision for Taxation |
NA |
0.000 |
0.000 |
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Profit/(Loss) After Tax |
NA |
0.304 |
0.494 |
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Export Earning |
0.084 |
0.148 |
NA |
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Expenditures : |
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Cost of Goods Sold |
1.724 |
2.239 |
2.630 |
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Manufacturing Expenses |
0.247 |
0.591 |
0.397 |
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Administrative Expenses |
0.085 |
0.107 |
0.168 |
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Interest |
0.000 |
0.001 |
0.010 |
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Depreciation & Amortization |
0.070 |
0.089 |
0.077 |
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Other Expenditure |
-- |
0.142 |
0.136 |
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Total Expenditure |
-- |
3.169 |
3.418 |
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LOCAL AGENCY
FURTHER INFORMATION
WEBSITES DETAILS:
Incorporated in 1995, today, they’ve emerged as an accomplished
manufacturer and exporter of Precision Brass Products like Ultrasonic Insert,
Press-In Insert, Molding Insert, Brass and Aluminium Core Vent and other
Precision components to serve all types of Industry requirements. Perceptibly,
their fascination for perfection and untiring loyalty towards the details has
led them to new heights all the way through the history of their organization.
To establish strong market goodwill and set strong foothold in the global
marketplace was difficult, but their high level of technological expertise
backed by a strong determination to excel has helped them to become one of the
most preferred companies satisfying the varied requirements of the customers
across the globe. Over the years, they have established a large client base
that extends to the worldwide markets.
Products
They are the leading manufacturer, developer and exporter of impeccable
quality and cost effective products, which serves:
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Sr. No. |
Field where they serve |
Products |
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1. |
Plastic Molding |
Ultrasonic Inserts, Press-In Inserts, Molding Inserts |
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2. |
Auto Industry |
Oil Coolers, Radiator Parts |
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3. |
Foundries |
Brass Core Vents, Aluminum Core Vents |
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4. |
Sport |
Dart Barrels and Shafts, Cue Stick Joiners |
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5. |
Electrical Industry |
Cable Glands, Connectors, Earthing Rods, Energy Meter Parts |
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6. |
Electronic and Communication
Industry |
Connector Parts, Contact Pins and Sockets, PCB Terminals Lugs,
Terminal Binding Posts |
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7. |
Pipe Fittings |
Tank Connectors, Reducers, Couplings |
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8. |
Furniture Hardware |
Knobs, Handles, Door Viewer, Hinges, Anchors |
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9. |
Other Products |
Brass Pen, Aluminum Pen, Accessories of Pen and other Writing
Instruments. |
The list given above contains some of their top line
products only. They can develop and manufacture any kind of products from they
drawing, specification or samples. They can also develop products from they
rough specification.
Quality
Quality has played an important role in every surface of
their business activity. An evidently distinct quality management system
ensures the implementation of quality policies at every level of the
manufacturing process. Promise to continuous improvement and meeting the
customer’s prospect provides foundation for their quality management system.
They have fundamentally enhanced quality by using cutting edge technology.
Their team of quality control inspectors monitors each and every level of the
production stage, right from the procurement of the raw material to the
dispatch of the finished products in the market.
Infrastructure
They are empowered with sound and sophisticated infrastructure coupled with
cutting edge technology. They constantly invest in the technological
advancements to cope up with the global challenges. Their state of the art
manufacturing unit is complacent with the modern machineries which function
with high level of efficiency. They have a team of most efficient, skillful and
experienced technocrats and professionals who work round the clock to guarantee
the customers of the most advanced and cost effective products.
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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 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.47.33 |
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UK Pound |
1 |
Rs.73.92 |
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Euro |
1 |
Rs.66.69 |
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 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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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 |
YES |
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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, we have no basis upon which to
recommend credit dealings |
No Rating |
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