MIRA
INFORM REPORT
|
Report Date : |
04.01.2008 |
IDENTIFICATION
DETAILS
|
Name : |
BHAVIK STEEL INDUSTRIES |
|
|
|
|
Registered Office : |
1/A, Ardeshir Dadi Street, Hararwala Building, Mumbai – 400004,
Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2007 |
|
|
|
|
Date of Incorporation : |
2004 |
|
|
|
|
Legal Form : |
Sole Proprietory Concern |
|
|
|
|
Line of Business : |
Manufacturer of Stainless Steel, Copper and Brass, M S and Alloys,
Tubes Carbon Steel. |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 4000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well – established and reputed concern. Proprietor is reported
as experienced and respectable businessman. 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. |
LOCATIONS
|
Registered Office/ Factory : |
1/A, Ardeshir Dadi Street, Hararwala Building, Mumbai – 400004,
Maharashtra, India |
|
Tel. No.: |
91-22-66340332/66109660 |
|
Mobile No.: |
91-9322401307 |
|
Fax No.: |
91-22-66362669 |
|
E-Mail : |
|
|
Website : |
http://www.bhaviksteelind.com
and co.in |
|
Area : |
330 sq. ft. |
|
Location : |
Owned |
SOLE PROPRIETOR
|
Name : |
Mrs. Anita Sanjay Jain |
|
Designation : |
Proprietor |
|
Date of Birth/Age : |
32 years |
|
Qualification : |
Graduate |
KEY EXECUTIVES
|
Name : |
Mr. Sanjay Jain |
|
Designation : |
CEO |
|
Date of Birth/Age : |
36 years |
|
Qualification : |
Graduate |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Stainless Steel, Copper and Brass, M S and Alloys,
Tubes Carbon Steel. |
|
|
|
|
Products : |
Stainless Steel - ·
Seamless and Welded Pipes ·
Sheets ·
Plates ·
Rods ·
Wire ·
Wire-Mesh ·
Pipe Fittings ·
Instrumention (Ferrule) Fittings. Copper and Brass- ·
Plates ·
Pipes ·
Tubes ·
Shims ·
Copper PVC Coated Tubes ·
Brass Sugar Mills Tubes M.S. and Alloys- ·
Welded and seamless Tubes Carbon Steel- ·
Seamless Pipes |
|
|
|
|
Export |
|
|
Countries: |
·
Middle-East ·
South Africa (World Wide) |
|
|
|
|
Import |
|
|
Countries: |
·
China ·
Korea ·
U.K. ·
U.A.E. |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit (60 days) |
|
|
|
|
Purchasing : |
Cash and Credit (60 days) |
GENERAL
INFORMATION
|
Customers : |
·
End Users ·
Manufacturers |
|
|
|
|
No. of Employees : |
7 |
|
|
|
|
Bankers : |
IDBI Bank, Pydhoni Branch |
|
|
|
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Auditors : |
|
|
Name : |
Dedhia Gala and Associates Chartered Accountants |
|
Address : |
Fort, Mumbai |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Rs.1.000 Million |
|
Borrowed : |
- |
|
Total : |
Rs.1.000 Million |
FINANCIAL DATA
[all figures are in Rupees Millions]
|
Particulars |
|
31.03.2007 |
31.03.2006 |
|
Sales Turnover |
|
50.000 |
40.000 |
|
|
|
|
|
Expected Sales (2007-08) : Around Rs.70.000 Millions
LOCAL AGENCY
FURTHER INFORMATION
Website details:
Profile:
Subject was
established in 2004 with an aim to reach up to the new heights of success. In
its manifesto, commitment towards goal and dedication towards work is the foremost
key to touch the sky. Only after three year, when all adversaries were
struggling to retain their existing reputation, Subject was reaching up to the
zenith of success. It was the up hill struggle of Subject which generated
credibility among its clients and brought into the mainstream very soon.
Subject primarily deals with the trade of steel products such as stainless
steel pipe fitting, steel angels and so on across the nation. They, Subject
have a long array of products of different stuffs like steel, brass, copper
etc., with exclusive properties. Some of their major products are
instrumentation fittings, stainless steel angles, stainless steel flanges,
stainless steel plate flanges, stainless steel sheets, strip flat blanks etc.
Due to the reliance and credibility of clients, Subject, strengthening the
business every day and therefore reckoning itself as on of the largest alloy
sheets supplier in India.
Subject has emerged with a strong vision to reach up to the zenith of
success by its impeccable and long-lasting stainless steel product. Within a
short span of time, Subject has marked sensation in this field and got
innumerable achievements. Their stainless steel products are made by forged
metal which gives them exquisite quality. After giving the marvelous
performance, they are reckoning as one of the most prominent steel pipe
fittings suppliers in India.
Subject is a milestone in the field of supplying steel products, is touching
the new heights of success. Their steel forged flanges and steel wire possess
innumerable qualities including aesthetic and lasting as well. Celebrating its
outstanding performance, now subject has been a paradigm for many existing and
upcoming organization. Although, they are the supplier of so many steel
products but they categorized them in some major category
·
Strip Flat Blanks
·
Metal Alloy Sheets
·
Stainless Steel Wire
·
Forged Steel Flanges
·
Stainless Steel Pipes
·
Stainless Steel Angles
·
Stainless Steel Flanges
·
Stainless Steel Sheets
·
Stainless Steel Fitting
·
Instrumentation Fittings
·
Stainless Steel Round Bars
·
Stainless Steel Plate Flanges
As one of the leading supplier of steel products, their first priority is
always to please their clients. Subject uses highly sophisticated technology
and wide infrastructure to make products exquisite and durable. Veteran experts
and well qualified professionals always prove their proficiency by producing
such astonishing and stunning products. Last but not the least, they offer
their products at a very rock bottom price with easy accessibility which are
the strength of Subject.
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.39.45 |
|
UK Pound |
1 |
Rs.78.14 |
|
Euro |
1 |
Rs.58.04 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
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
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|