MIRA
INFORM REPORT
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Report Date : |
30.12.2008 |
IDENTIFICATION DETAILS
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Name : |
MEHTA
ELECTRICALS LTD |
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Registered Office : |
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Country : |
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Date of Incorporation : |
31.5.1974 |
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Com. Reg. No.: |
12715 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Distributors of
Electrical Products, Accessories, Equipments |
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 100,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUBJECT'S NAME
Registered Name: MEHTA ELECTRICALS LTD
Requested Name: MEHTA
ELECTRICALS LTD
Other Names: None found.
ADDRESS AND TELECOMMUNICATION
Physical Address:
Postal Address: P.o
Country:
Phone: 254-20-3750519
Fax: 254-20-3748634
Email: info@mehtaelectricals-msa.co.ke
Website: none
CREDIT OPINION
Financial Index as of December 2007 shows subject firm
with a medium risk of credit. However, bank and credit information obtained
reveal a history of prompt payments. We recommend Credit of USD 100,000 on 90
days.
LEGAL
Legal Form: Limited Corporation
Date Incorporated: 31/5/1974
Reg. Number: 12715
Nominal Capital KES 1,000,000
Subscribed Capital KES 1,000,000
Subscribed
Capital is Subscribed in the following form:
Position Shares
Mr. Mehta
Pittu MD/ CEO
Mr. Vikram I
Dave Director
Mr. Kiran
Bhatia Director
Mr. Vijay Patel Director
Mehta Group Holding Company 100%
RELATED COMPANIES
Mehta Group Parent company.
None Subsidiary company.
None Affiliated company.
None Shareholder of subject firm.
OPERATIONS
Registered to operate distributors of electrical products,
accessories, equipments
Imports:
Exports:
Trademarks: None
Terms of sale: Cash
(40%) and 25-90 days (60%), invoices.
Main Customers: Distributors,
stores and hardware outlets
Employees: 120
employees.
Vehicles: Several
motor vehicles.
Territory of sales:
Location: Owned
premises, 20.000 square feet,
AUDITORS AND INSURANCE
Auditors: Information not available.
Insurance Brokers: Information not available.
FINANCE
Currency Reported:
Approx. Ex. Rate: 1 US Dollar = 75.67
Fiscal Year End: December
31, 2007
Inflation: According
to information given by independent sources, the inflation at December
31st, 2007 was of 13%.
Financial Information Not Submitted
2007
Sales 380,000,000
BANK
Bank Name: PRIME BANK
Branch:
Comments: None
TRADE
REFERENCES
Experiences: Good
NOTARIAL BONDS None
COMMENTS / ADDITIONAL INFORMATION
This information was obtained from outside sources
other than the subject company itself and confirmed the above subject.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.48.50 |
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1 |
Rs.70.02 |
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Euro |
1 |
Rs.67.95 |
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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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%)