MIRA
INFORM REPORT
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Report Date : |
08.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
BHARAT ENTERPRISES |
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Registered Office : |
217 / 218 / 219, Gupta Complex, Inderlok 1, Old Rohtak Road, New Delhi
– 110 035 |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
1993 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer and Exporter of Adhesive, Adhesive Raw Materials,
Prepolymer, Solvents, Primer and Polychloroprene. |
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 35000 |
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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 meetings its
normal commitments timeously. Trade relations are fair. Business is active. The concern can be considered good for normal business dealings. |
INFORMATION PARTED
BY
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Name : |
Mr. Shailendra Agarwal |
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Designation : |
Proprietor |
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Date : |
28.06.2008 |
LOCATIONS
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Registered Office / Factory : |
217 / 218 / 219, Gupta Complex, Inderlok 1, Old Rohtak Road, New Delhi
– 110 035, India |
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Tel. No.: |
91-11-23658973 / 23656576 |
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Fax No.: |
91-11-23658955 / 23640133 |
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E-Mail : |
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Website : |
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Area : |
1800 Sq.fts |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Shailendra Agarwal |
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Designation : |
Proprietor |
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Date of Birth/Age : |
45 years |
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Qualification : |
Graduate |
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Experience : |
22 years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Adhesive, Adhesive Raw Materials,
Prepolymer, Solvents, Primer and Polychloroprene. |
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Products : |
· Adhesives · Adhesive Raw Materials · Bonding Agents · Chemicals · Chemical Technologies : · Chlorinated Rubber · Colour ( Color) · Curing Agents · Polyols · Polyurethanes · Polychloroprene Rubber · Release Agents · Resins · Rubber Chemicals · Silanes |
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Exports : |
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Products : |
Adhesives, Polyurethanes, Polyurethane Raw Materials, Rubber Chemicals, Bonding Agents, Adhesive Raw
Materials, Engineering Plastics, Plastic Adhesives |
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Countries : |
Asian Countries |
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Imports : |
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Products : |
Adhesives, Polyurethanes, Polyurethane Raw Materials, Rubber Chemicals, Bonding Agents, Adhesive Raw
Materials, Engineering Plastics, Plastic Adhesives |
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Countries : |
Korea, Germany and China |
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Terms : |
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Selling : |
LC, Cash, Credit |
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Purchasing : |
LC, Cash, Credit |
PRODUCTION STATUS :-
Capacity to increase production by 30%
GENERAL
INFORMATION
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Suppliers : |
Own Manufacturing |
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No. of Employees : |
20 |
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Bankers : |
· Karur Vyasa Bank Limited, Karol Bagh , New Delhi – 110 005, India · ICICI Bank Limited, Delhi-110 035, India · HDFC Bank Limited, Delhi-110 035, India |
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Banking
Relations : |
Satisfactory |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 7.000 millions |
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Borrowed : |
--- |
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Total : |
Rs. 7.000 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2008 |
31.03.2007 |
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Sales Turnover |
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80.000 |
70.000 |
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Profit/Loss for the year |
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12% |
12% |
Expected Sales (2008-09): Rs. 100.000 millions
LOCAL AGENCY
FURTHER INFORMATION
WEBSITE DETAILS:-
Concern Profile:-
The concern is a trading company based in Delhi,
India. Subject was established in 1993 . They represent many overseas
companies in India and Indian companies in overseas markets. They have an
India-wide distribution network. They are engaged in import, export,
distribution and trading of various chemicals, chemical products, chemical
plants and chemical technologies. Some of the products that they offer:
Adhesives: ( such as polyurethane, epoxy, synthetic rubber, rubber to metal bonding
etc.)
Polyurethanes: They have almost the complete range of PU including
Thermoplastic Polyurethanes (TPU) , Castable (CPU) etc. Polyurethane raw
materials such as polyester polyols, Polymeric Polyester Polyols,
Polymeric Polyether Polyol, Polyether Polyol, colour pastes, in mould coatings
( In mold paints or IMC/IMP).
Rubber and rubber chemicals: such as Polychloroprene ( chloroprene
rubber), anti oxidants, accelerators, Chlorinated Rubber, etc.
Silanes: Complete range of Silanes for the rubber, plastic and composite
industries.
Bonding Agents: Rubber to metal/other sustrates, Polyurethane
(TPU/CPU/Millable PU) to metal/various substrate (various rubbers to themselves
and various metals and polyurethane to various substrate)
Adhesive raw materials: like polyurethanes, synthetic rubbers, resins,
antioxidants, solvents, stabilizers, resin free tackifiers, Chlorinated
Rubbers, Silanes , TPR primers, cross linking agents etc.
Engineering plastics: Thermoplastic Polyurethanes (TPUs)
Release agents : Internal and external mould (mold) release agents
for rubber, plastics, polyurethanes, FRPs, metals etc.
Plastic additives and modifiers such as chlorinated polyethylene (CPE),
U.V. stabilizer, impact modifiers etc.
Chemicals such as dispersants for various applications, dye stuff, detergent
additives etc.
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.43.12 |
|
UK Pound |
1 |
Rs.85.08 |
|
Euro |
1 |
Rs.67.41 |
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 |
|
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 |
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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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