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MIRA
INFORM REPORT
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Report Date : |
02.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
FIAMM GLOBAL (INDIA) PRIVATE LIMITED |
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Registered Office : |
C – 10, Satyam Shopping Centre, M G Road, Ghatkopar (East), Mumbai –
400077, Maharashtra |
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Country : |
India |
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Date of Incorporation : |
04.08.2006 |
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Com. Reg. No.: |
163562 |
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CIN No.: [Company
Identification No.] |
U74140MH2006PTC163562 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMF04740B |
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PAN No.: [Permanent
Account No.] |
AAACF9963C |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Importer of Batteries, Semi Conductors, Uninterrupted
Power Supply System and Other Electronic Components. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
New Company |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a new company and yet to publish its first financials with
the government departments. Trade relations are fair. Business is active.
Payments are however reported as usually correct and as per commitments. The company can be considered good for small to mediocre business
dealings, initially. |
INFORMATION PARTED
BY
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Name : |
Mr. Amay |
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Designation : |
Accountant |
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Date : |
28.06.2008 |
LOCATIONS
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Registered Office : |
C – 10, Satyam Shopping Centre, M G Road, Ghatkopar (East), Mumbai –
400077, Maharashtra, India |
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Tel. No.: |
91-22-25110646/ 25117469 |
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Fax No.: |
91-22-25111042 |
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E-Mail : |
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Website : |
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Area : |
1200 Sq. ft |
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Location : |
Owned |
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Subsidiary Office : (Asia Pacific) : |
111, North Bridge Road, # 05 – 47, Peninsula Plaza, Singapore - 179098 |
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Tel. No.: |
65-62955114 |
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Fax No.: |
65-62955114 |
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Subsidiary Office : ( Middle East) : |
Executive Suite, P O Box 121928, Sharjah, UAE |
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Tel. No.: |
97150 - 3439297 |
DIRECTORS
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Name : |
Mr. Deepak Gandhi |
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Designation : |
Director |
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Address : |
405, Sahyadri, Neel Kanth Valley, Ghatkopar (East), Mumbai – 400077,
Maharashtra, India |
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Date of Birth/Age : |
53 Years |
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Name : |
Mrs. Varsha Gandhi |
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Designation : |
Director |
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Address : |
405, Sahyadri, Neel Kanth Valley, Ghatkopar (East), Mumbai – 400077,
Maharashtra, India |
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Date of Birth/Age : |
09.09.1960 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 20.06.2006
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Names of Shareholders |
No. of Shares |
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Mr. Deepak Gandhi |
5000 |
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Mrs. Varsha Gandhi |
5000 |
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Total |
10000 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Importer of Batteries, Semi Conductors, Uninterrupted
Power Supply System and Other Electronic Components. |
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Imports : |
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Countries : |
v China v Singapore |
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Terms : |
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Selling : |
Credit ( 45 days) |
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Purchasing : |
Credit ( 90 days) |
GENERAL
INFORMATION
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Customers : |
v Wholesalers Clients v Satyam v Wipro v Infosys v DELL v IBM v HP Invent v Google v Microsoft v SAP v Oracle Partner
Network v HCL v Bank of America |
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No. of Employees : |
22 |
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Bankers : |
Union Bank of India |
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Facilities : |
CC – Rs. 40.000 millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Nitin Potta and Associates Chartered Accountants |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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500,000 |
Equity shares |
Rs. 10/- each |
Rs. 5.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10,000 |
Equity shares |
Rs. 10/-
each |
Rs. 0.100
million |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2008 |
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Sales Turnover |
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300.000 |
Expected Sales (2008-09) : Rs. 700.000 millions
LOCAL AGENCY
FURTHER INFORMATION
Trade References
v
Silvex Exports Private Limited – Mr. Gurjar – Director – 91-9821334287 –
Tel No.: 25676869
As Per Website Details
They are sole, distributors of Global Battery Company Limited South Korea (formerly Global & Yuasa Battery Company Limited) for “Rocket” Brand SMF Valve Regulated Lead Acid Battery in Asia Pacific. The foundation of this company was laid and fostered in the year 1988 by Mr. Dipak Gandhi, leader of SMF UPS batteries in India. The most valuable asset of the company is the invincible experience of past 20 victorious years. They are proud to be the sole suppliers of Rocket brand batteries for national and international UPS manufacturers, OEM’s, Banks, Insurance companies, Public Limited Enterprises and Government Organizations.
They cater to almost entire Indian market across the industry vertical. They
serve extensive range of batteries
The products are consistent with technically advanced features. During the
preliminary stages into Indian Market Rocket Batteries were made available from
Lower Ah ranging from 4Ah up to 100 Ah only. To endure & prosper they
developed themselves in the resolution activities such as application
engineering, R and D, QC management, International Standards and
Specifications, Technical support, After–Sales-Service etc which equated Rocket
batteries as renowned among the UPS Manufacturers, Engineers, Industrial
customers Consultants, etc. Rocket has to its credentials varied product
ranges, 12V, 2V, Front Terminal VRLA Battery, Gel VRLA Battery etc.
The network is spread through out India with the branches and consignee agents. To support the valuable customers with efficient after sales and warranty management they have a dedicated service setup based in Chennai operated with highly qualified professionals. They strive to exceed customer’s expectations in affordability, quality and on-time delivery. They believe in respecting the customers, listening to their requests and understanding their expectations.
Now in the 21st year, They are dedicated to bring the 2V cells for the use by
Indian Telecom players. The Vision is to be pioneer keeping pace with the
market needs and demands.
The Values
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Each personally accountable for the highest standards of behavior,
including honesty and fairness in all aspects of the work.
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Fulfill the commitments as responsible citizens and employees.
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Consistently treat customers and company resources with the respect they
deserve.
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 :
The 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.
The 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. 43.34 |
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UK Pound |
1 |
Rs. 86.53 |
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Euro |
1 |
Rs. 68.54 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
4 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
-- |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
-- |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
4 |
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--CREDIT LINES |
1~10 |
4 |
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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 |
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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33 |
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, they have no basis upon which to
recommend credit dealings |
No Rating |
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