MIRA
INFORM REPORT
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Report Date : |
04.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
SUMAN EXPORTS |
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Registered Office : |
34, Juhu Supreme Shopping Centre, Juhu Scheme, Mumbai – 400049,
Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1992 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer and Exporter of L V Bushing Insulators, Pressure Relief Values,
Bimetallic Thermometer, Magnetic Oil Level Gauge, Rubberised. |
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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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. The concern is doing well. It can be considered normal for business dealings at usual trade terms
and conditions. |
LOCATIONS
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Registered Office : |
34, Juhu Supreme Shopping Centre, Juhu Scheme, Mumbai – 400049, Maharashtra,
India |
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Tel. No.: |
91-22-26212131/26202195/56924660/26285134 |
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Fax No.: |
91-22-26285134/26202195/56924662 |
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E-Mail : |
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Website : |
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Area : |
350 sq. ft. |
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Location : |
Owned |
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Factory 1 : |
B-8, Hind Saurashtra Industrial Estate, M V Road, Andheri East, Mumbai
– 400059, India |
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Tel. No.: |
91-22-28508031 |
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Fax No.: |
91-22-28502395 |
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Area : |
2000 sq. ft. |
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Location : |
Owned |
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Factory 2 : |
Plot No.355, Padra – Jambusar Highway, Dabhasa, District Vodadara –
391440, Gujarat, India |
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Area : |
75000 sq. ft. |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Mohan Anchan |
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Designation : |
Proprietor |
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Date of Birth/Age : |
56 years |
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Qualification : |
Post – Graduate |
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Experience : |
30 years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of L V Bushing Insulators, Pressure Relief
Values, Bimetallic Thermometer, Magnetic Oil Level Gauge, Rubberised. |
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Products : |
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Exports : |
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Products : |
All Products |
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Countries : |
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Terms : |
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Selling : |
L/C and Cash |
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Purchasing : |
L/C and Cash |
GENERAL
INFORMATION
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Customers : |
Transformer Manufacturers |
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No. of Employees : |
Around 70 |
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Bankers : |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
A M Topiwala and Company Chartered Accountant |
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Address : |
Andheri – East |
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Tel No.: |
91-22-28222960 |
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Associates/Subsidiaries : |
A S Insulators |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
N.A. |
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Borrowed : |
N.A. |
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Total : |
N.A. |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2007 |
31.03.2006 |
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Sales Turnover |
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40.000 |
30.000 |
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Expected Sales (2007-08) : Approx Rs.50.000 Millions
LOCAL AGENCY
FURTHER INFORMATION
Website details :
- EXPORTS :
A manufacturing unit is promoted in the year 1993 with a view
to explore the expanding market requirements. The Concern is committed to meet
the desired high quality standard and workmanship, timely delivery expected by
the export market. The company fully concentrated on the manufacturing and
export of metal parts and accessories for electrical transformer industry such
as H V and L V metal parts, level gauges, thermometers, connectors, SS and MS
arc welding studs, pressure relief device, non-ferrous forgings/castings etc.
In brief all products which was handled by their group company subject as
trading company is now manufactured in-house and exported to ISO accredited
companies around the globe.
The factory is centrally located in the Industrial zone at
Mumbai (commercial and industrial capital of India). The Factory is well
equipped with manufacturing and storage facilities in the vicinity of
international airport and seaport which is an advantage for efficient movement
of raw material and also for exports of finished products.
The company has its own independent sales and marketing, production, quality
control, shipping departments to meet critical nature of export market.
- CORPORATE PROFILE
Subject group of companies is founded by a well experienced entrepreneur Mr.
Mohan Anchan who had vast experience in the field of sales and marketing with
leading multinational companies in India and abroad.
Subject group of companies cater to clientele which includes ISO 9001
accredited companies around globe i.e. to Japan, Germany, Singapore, Saudi
Arabia, Jordan, Iraq, U.A.E., Muscat etc.
The Group has been honored with various awards for
outstanding performance in Productivity, Quality and Innovation by the Indian
Council for Small and Medium Exports.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.39.36 |
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UK Pound |
1 |
Rs.78.29 |
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Euro |
1 |
Rs.58.48 |
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 |
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 |
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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46 |
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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