MIRA
INFORM REPORT
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Report Date : |
20.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
USHA FABCASTS |
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Registered Office : |
Plot No. 70,
Sector – 27A, Faridabad – 121 003, Haryana |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
November 2002 |
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Legal Form : |
Partnership
Concern with an Unlimited Liability of the Partners. |
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Line of Business : |
Manufacturer, Importer,
Trader and Exporter of Hydraulic Gears and Power lift and Auto Parts used in
Mobile and Tractors. |
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 54000 |
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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.
General financial position is satisfactory. Payments are usually correct and
as per commitments. The company can
be considered good for normal business dealings at usual trade terms and
conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Kesar Jha |
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Designation : |
Accountants |
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Contact No.: |
- |
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Date : |
19.02.2008 |
LOCATIONS
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Registered Office/ Factory : |
Plot No. 70,
Sector – 27A, Faridabad – 121 003, Haryana, India. |
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Tel. No.: |
91-129-4107773/4107774 |
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Mobile No.: |
91-9810309966 |
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Fax No.: |
91-129-4103455 |
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E-Mail : |
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Area : |
1500 sq. ft. |
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Location : |
Owned |
PARTNERS
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Name : |
Mr. Narinder
Kumar Jhawar |
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Designation : |
Partners |
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Date of Birth/Age : |
64 Years |
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Qualification : |
Graduate |
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Experience : |
28 Years |
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Name : |
Mr. Rohit Kumar
Jhawar |
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Designation : |
Partners |
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Date of Birth/Age : |
35 Years |
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Qualification : |
Graduate |
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Experience : |
11 Years |
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Name : |
Mr. Vivek Jhawar |
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Designation : |
Partners |
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Date of Birth/Age : |
37 Years |
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Qualification : |
Post Graduate |
BUSINESS DETAILS
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Line of Business : |
Manufacturer,
Importer, Trader and Exporter of Hydraulic Gears and Power lift and Auto
Parts used in Mobile and Tractors. |
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Products : |
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Exports : |
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Countries : |
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Terms : |
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Selling : |
L/C, Cash and
Credit (30 days) |
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Purchasing : |
Sight, Cash and
Credit (30 days) |
GENERAL
INFORMATION
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Customers : |
·
Manufacturer ·
Whole
Sellers ·
Retailers ·
End Users. · HMT Limited - Pinjore · HMT Limited - Ajmer · Mahindra Gujarat Tractors Ltd. · Standard Tractors - Barnala · UT Limited - Kolkata ·
Windsor Exports - Delhi |
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No. of Employees : |
115 |
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Bankers : |
Greater Kailash
Part II, New Delhi – 110 001, India. |
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Facilities : |
Credit Limit:
Rs.10.000 Millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Aditya Aggarwal
and Company Chartered
Accountant |
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Address : |
New Delhi |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.13.500
Millions |
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Borrowed : |
- |
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Total : |
Rs.13.500
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 |
71.500 |
70.000 |
63.500 |
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Profit/Loss for the year |
0.000 |
4.200 |
4.175 |
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Expected Sales (2007-08): Rs.80.000 Millions
LOCAL AGENCY
FURTHER INFORMATION
Trade
References:
·
HMT Limited –
Pinjore
·
Eicher
Tractors Limited
·
Standard
Tractors, Barnala
- Mahindra - Gujarat
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.39.87 |
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UK Pound |
1 |
Rs.77.79 |
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Euro |
1 |
Rs.58.59 |
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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