MIRA
INFORM REPORT
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Report Date : |
09.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
BAKSON EXPORT |
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Registered Office : |
Kumar Kunj, GMD Road, Moradabad – 244001, Uttar Pradesh |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1985 |
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IEC No.: |
2905002328 |
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PAN No.: [Permanent
Account No.] |
ANGPK0877J |
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TIN No.: |
09459001711 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer and exporter of candle holders, napkin, rings, changer
trays, ash trays, textile items and other Indian handicrafts. |
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 18000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and reputed concern having satisfactory
track. Trade relations are fair. Business is active. Payments are reported as
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. Gagan Katyal |
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Designation : |
Chief Executive Officer, Owner Son |
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Contact No.: |
91-9359703364 |
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Date : |
09.02.2008 |
LOCATIONS
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Registered Office / Factory : |
Kumar Kunj, GMD Road, Moradabad – 244001, Uttar Pradesh, India |
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Tel. No.: |
91-591-2326193 |
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Mobile No.: |
91-9359703364 / 9997308718 |
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Fax No.: |
91-591-2326193 |
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E-Mail : |
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Website : |
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Area : |
2000 sq. mtrs. [Owned] |
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Factory : |
Located at Kanth Road, Moradabad |
SOLE PROPRIETOR
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Name : |
Mr. Naresh Katyal |
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Designation : |
Proprietor |
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Address : |
Kumar Kunj, Near Shiv Shundari School |
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Date of Birth/Age : |
02.11.1959 |
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Qualification : |
Graduate |
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Experience : |
27 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and exporter of candle holders, napkin, rings, changer
trays, ash trays, textile items and other Indian handicrafts. |
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Exports : |
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Products : |
Handicrafts, Brass Ware, Iron Ware, Textile Ware and Wooden Ware |
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Countries : |
Gulf Countries, Turkey, USA, Europe, Italy, France, UK, South and West
America, Africa, Middle East etc. |
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Terms : |
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Selling : |
L/C, Cash and Credit [30-60 days] |
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Purchasing : |
L/C, Cash, Credit [30 days] and at Sight |
PRODUCTION STATUS
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Particulars |
Unit |
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Installed
Capacity |
Actual
Production |
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Candle Stand, Flower Vase, Christmas Decoration Promotional Items,
Bowls, Charger, Trays etc. |
Rs in Millions |
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50.000 |
20.000 |
GENERAL
INFORMATION
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Customers : |
End Users, Wholesalers and Retailers |
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No. of Employees : |
32 |
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Bankers : |
Union Bank of India Kanth Road, Peetal Basti, Moradabad |
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Facilities : |
Credit Limit : Rs. 1.000 Million |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Sikka and Company Chartered Accountants |
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Address : |
Moradabad |
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Associates/Subsidiaries : |
Puja Industries Address : Kanth Road, Moradabad Activities : Manufacturing of brass ware and other metal handicrafts S. P. Handicraft
Address : Harpal Nagar Moradabad Activities : Manufacturing of Indian Handicraft Krishna
Industries Address : Riico Industrial Area, Jalore |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 4.500 Millions |
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Borrowed : |
-- |
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Total : |
Rs. 4.500 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
45.000 |
41.500 |
40.000 |
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Profit/Loss for the year |
2.470 |
2.450 |
2.300 |
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Export Value |
100 % |
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LOCAL AGENCY
FURTHER INFORMATION
Trade Reference
- Old Dutch Intt. USA
- Century Imports USA
- SIS International France
- E. M. K. Import and Export, France
- Century Imports, USA
- Word Bazzar Inc. USA
- R & C Imports UK
- Mr. Shamim Ahmed, Galsheed, Moradabad;
Mobile No. : 91-9756149525
- Mr. Sakshi GMD Road
Mobile No. :
91-9927191515
- Mr. Navneet Dhall, Malviya Nagar, Moradabad;
Mobile No. : 91-9359703188
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.39.55 |
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UK Pound |
1 |
Rs.76.85 |
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Euro |
1 |
Rs.57.27 |
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 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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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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48 |
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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