MIRA
INFORM REPORT
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Report Date : |
05.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
SANDEEP ENTERPRISES |
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Registered Office : |
11-B, Big Jo’s
Tower, A-8, Netaji Subhash Place, Pitam Pura, Delhi-110034 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1979 |
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IEC No.: |
0597037841 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Importer, Distributor and Trader of Tool, Alloy Steel and Stainless
Steel. |
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 50000 |
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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 and reputed concern. Proprietor
is reported as experienced and respectable businessmen. His trade relations
are reported as fair. Business is active. Payments are usually correct and as
per commitments. The concern can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
11-B, Big Jo’s
Tower, A-8, Netaji Subhash Place, Pitam Pura, Delhi-110034, India |
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Tel. No.: |
91-11-52470530 / 31 / 32 / 33 |
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Fax No.: |
91-11-27355242 |
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E-Mail : |
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Website : |
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Area : |
850 sq. ft. [Owned] |
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Location : |
Commercial |
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Branches : |
Ludhiana 225, Industrial Area A, Ludhiana Mobile No.: 91-9356056962 Area : 200 sq. ft. [Rented] Faridabad Sohana – Samepur Road, Rajiv Colony, Ballabgad, Haryana Mobile No. : 91-9311325363 Area : 1000 sq. ft. [Rented] Mumbai B – 12, Kamal Building, Harsha Park, Chandravakar Road, Borivali
[West], Mumbai Mobile No.: 91-9320398272 Area : 600 sq. ft. |
SOLE PROPRIETOR
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Name : |
Mrs. Suman Jain |
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Designation : |
Proprietor |
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Address : |
C-5, Ashok Vihar,
Phase-I, Delhi 110052 |
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Date of Birth/Age : |
61 Years |
KEY EXECUTIVES
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Name : |
Mr. Jagdish Bahl |
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Designation : |
Branch Manager |
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Date of Birth/Age : |
50 Years |
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Name : |
Mr. Sandeep Jain |
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Designation : |
Chief Executive Officer |
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Date of Birth/Age : |
37 Years |
BUSINESS DETAILS
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Line of Business : |
Importer, Distributor and Trader of Tool, Alloy Steel and Stainless
Steel. |
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Product : |
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Exports : |
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Countries : |
Bangladesh |
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Imports : |
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Countries : |
Germany, Czech Republic, China, Japan and Korea |
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Terms : |
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Selling : |
Credit [30 to 60 days], L/C and at Sight |
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Purchasing : |
L/C [90-120 days], D/A [90-120 days] [From Japan 180 days Credit against L/C] |
GENERAL
INFORMATION
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No. of Employees : |
25 |
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Bankers : |
Union Bank of
India, Ashok Vihar
Branch, Delhi |
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Facilities : |
Cash Credit Limit
: Rs. 38.000 Millions Bank Guarantee /
Letter of Credit : Rs. 40.000 Millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Devi Dayal and
Associates Chartered
Accountant |
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Associates/Subsidiaries : |
Victor Engineering and Steel Company Establishment :
1977 Legal Status :
Proprietorship Proprietor : Mr.
Sandeep Jain Turnover : Rs.
4.000 millions as on 31st March 2005 Line of Business
: Stockist for Tool, Alloy Steel and Stainless Steel |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 12.500 Millions |
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Borrowed : |
-- |
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Total : |
Rs. 12.500 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 |
280.000 |
200.000 |
240.000 |
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Profit/(Loss) Before Tax
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NA |
NA |
1.648 |
Provision for Taxation
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NA |
NA |
0.414 |
Profit/(Loss) After Tax
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NA |
NA |
1.234 |
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Net Worth |
NA |
NA |
10.000 |
Expected Sales (2007-08) : Rs.360.000 Millions
KEY RATIOS
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PARTICULARS |
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31.03.2005 |
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PAT / Total Income |
(%) |
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0.51 |
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Net Profit Margin (PBT/Sales) |
(%) |
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0.69
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Return on Investment (ROI) (PBT/Networth) |
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0.16
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LOCAL AGENCY FURTHER
INFORMATION
Subject imports
Tools and Alloy Steel.
Subjects does not
export and sells locally and supplies to consumer, traders, public sector
undertakings and governments agencies.
The concern is in
trade terms with:
Ø
I S Inter Steel
Star Handle, Germany
As Per Website
Profile
Subject is a Trading House dealing in all kinds of Tool
Steel, Die Steel and High Alloy Steel used in making of Rolls, Tools & Dies
for various Engineering Industries.
The Company is exclusive agents in India for M/s Kalyani
Carpenter Special Steels Limited, Pune (A Bharat Forge Group Company) and is
also purchasing these types of Steel from M/s Steel Authority of India Limited
(ASP Plant & VISL Plant) & other Mills in India.
Other than Indian Mills, the company is also importing these
Steels from various Mills all over the world and are exclusive agents in India
for M/s Poldi Hutte (Czech Republic), M/s Villares Metal SA (Brazil) & M/s
IS Intersteel Stahlhandel (Germany) and are also importing these materials from
Germany, Taiwan, Korea, Japan, China, Russia, Romania, etc.
The firm also has branches for better sales realization and
managing the business at Mumbai, Ludhiana, Faridabad and Kolkata. The total
business of the firm is spread out in the whole of India and also Exports.
Partners
Exclusive Partners
POLDI HUTTE S.R.O.
Prumyslova 1343,
272 62 Kladno
ICO 25649787 DIC CZ 25649787
Czech Republic
International Partners
Brazil
1. M/s Villares Metal SA
China
1. Zhejiang East Tools Manufacture Company Limited
2. M/s Dongbei Special Steel Group Company
Germany
1. M/s IS Intersteel Stahlhandel Gmbh
2. M/s Eschmann Stahl
Japan
1. M/s Nachi-Fujikoshi Corporation
Korea
1. M/s Changwon Speciality Steel
Romania
1. The Special Steel Complex Targoviste (Costa)
Taiwan
1. Gloria Material Technical Corporation
Domestic Partners
India
1. Kalyani Carpenter Special Steels Limited
2. Alloy Steel Plant (SAIL Enterprises)
3. VISL (SAIL Enterprises)
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.39.32 |
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UK Pound |
1 |
Rs.77.53 |
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Euro |
1 |
Rs.57.91 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
7 |
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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 |
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 |
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 |
NO |
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--AFFILIATION |
YES/NO |
YES |
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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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47 |
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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