MIRA
INFORM REPORT
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Report Date : |
23.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
ARIHANT IMPEX |
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Registered Office : |
98, Choolai High Road, Chennai – 600112, Tamilnadu |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1997 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer and Exporter of Transformer Laminations and Stampings for
Motors. |
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 80000 |
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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. 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
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Registered/ Head Office : |
98, Choolai High Road, Chennai – 600112, Tamilnadu, India |
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Tel. No.: |
91-44-26692006/26692052/26693590 |
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Fax No.: |
91-44-26693402 |
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E-Mail : |
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Website : |
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Factory : |
B-52, Pipdic Industrial Estate, Mettupalayam, Pondicherry - 9 |
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Tel No.: |
91-413-4204411 |
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Branches Cum Sales Office: |
Cochin 36/2363, Azad Road, Kaloor, Kochi – 682017 Tel No.: 91-484-2535941/2535942 Coimbatore 162, Bharathiar Road, Papanaicken Palayam, Coimbatore – 641037 Tel No.: 91-422-2211193/2211182 |
SOLE PROPRIETOR
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Name : |
Mr. Harak Chand J Golecha |
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Designation : |
Proprietor |
KEY EXECUTIVES
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Name : |
Mr. Uttam Chand Golecha |
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Designation : |
Chief Executive |
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Tel No.: |
91-44-26693590 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Transformer Laminations and Stampings for
Motors. |
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Exports : |
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Products : |
Electrical Stampings for Transformers and motors |
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Imports : |
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Products : |
·
Silicon/ Electrical Steel in CRNO and CRGO Grades
in Sheets and Coils ·
Enamled Copper winding wires and strips ·
Copper Strips Insulated ·
Nickle Stampings ·
Transformer Oil ·
Electrical Insulation Material ·
Used and Condemned Transformers of various
capacities for recycling in sister concern |
GENERAL
INFORMATION
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No. of Employees : |
15 |
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Bankers : |
Indian Bank Parrys Corner Branch, Broadway, Chennai |
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Banking
Relations : |
Satisfactory |
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Auditors : |
Not Available |
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Associates/Subsidiaries : |
·
Golecha Electro Stampings ·
Shree Shankheshwara Industries |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.20.000 Millions |
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Borrowed : |
- |
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Total : |
Rs.20.000 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2007 |
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Sales Turnover (Group Turnover) |
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50.000 |
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LOCAL AGENCY
FURTHER INFORMATION
Business :
This is a proprietorship firm that handles
three activities :
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Import
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Exports
·
Liaison
A detailed description of their activities in
given in the products column of this report. Mr. H J Golecha is the proprietor
of this firm. The firm was started 10 years ago and has a good reputation in
chennai, where its headquarters is placed. Mr. H J Golecha is assisted by his
brother Mr. Uttam Chand Golecha. The firm also Imports all kinds of Silicon
Steel Sheets, and Coils. Apat from this they are suppliers of all kinds of
Electrical Laminations for Transformers, UPS, Invertors, Indicators, Stabilizers,
Battery Chargers, Distribution and Power Transformers etc.
Products
Imports :
·
Silicon/ Electrical Steel in CRNO and CRGO
Grades in Sheets and Coils
·
Enamled Copper winding wires and strips
·
Copper Strips Insulated
·
Nickle Stampings
·
Transformer Oil
·
Electrical Insulation Material
·
Used and Condemned Transformers of various
capacities for recycling in sister concern
Exports :
·
Exporters of Electrical Stampings for Transformers and motors
Liaison Activities :
·
Company Formation
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Find Prospective buyers, visit the existing
clients
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Recruitment
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Market research/ Development
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Marketing and sales of the products and
services
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Designing and printing of brochures and
catalogues and official stationery
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Distributors of catalogue
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Liaison with government office and trade
associations
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Organize shows and events
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Participation in exhibitions and trade shows
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Any specific jobs such as verification of
claims by importers of products and inspection of materials supplied by Indian
exports
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Storage of any excess/ rejected/ disputed
materials
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Follow up with Indian customs authories
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Shipment of materials from Indian firms
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Translators/ Escorts services
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Confirm hotel Booking and arrange travel in
India
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Sample the products in India
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Samples and catalogues delivered to the
clients and prospective buyers
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Advertise the products and services in the
Indian market
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Booking and releasing of advertising in the
Newspapers, Magazines, Journals and various directors
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Membership in prestigious business promotion
councils
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Assistance and guidance to set up new business
in India
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Any other specific job required.
Sister Concern :
Golecha Electro Stampings
They are manufacturer and suppliers of all
kinds of electrical laminations for transformers, UPS, Invertors, Indicators,
Stabilizers, Battery Chargers, Distributors and Power Transformers etc. They
manufacturer stampings for motors for various applications in cold rolled Non
Grain Oriented Materials, which international standards. They also offer strip
laminations in grades of CRNGO and CRGO.
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.39.73 |
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UK Pound |
1 |
Rs.77.01 |
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Euro |
1 |
Rs.57.34 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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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 |
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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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
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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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