MIRA
INFORM REPORT
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Report Date : |
07.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
CHOWDHARY AUTOMOBILE PRODUCTS |
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Registered Office : |
No. 19, 30th Cross, Near Sagar Apollo Hospital, Jaya Nagar,
4th Block East, Bangalore – 560041, Karnataka. |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
April 1984 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturing of machine components for automobile Industries also
providing job work services in the above area. |
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 24000 |
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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 meeting its normal
commitments timeously. Trade relations are fair. The concern can be considered good for small to mediocre business
dealings |
INFORMATION PARTED
BY
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Name : |
Mr. Akhillur Rehman |
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Designation : |
Proprietor |
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Contact No.: |
91-9343538078 |
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Date : |
31.05.2008 |
LOCATIONS
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Registered Office : |
No. 19, 30th Cross, Near Sagar Apollo Hospital, Jaya Nagar,
4th Block East, Bangalore – 560041, Karnataka, India. |
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Tel. No.: |
91-80-64508705 / 26644822 |
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Mobile No.: |
91-9343538078 |
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Fax No : |
91-80-26644822 |
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E-Mail : |
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Area : |
800 sq. ft |
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Location : |
Owned |
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Factory 1 : |
No. 7, Bismillah Nagar, Bunar Ghata Road, Bangalore -560 029,
Karnataka. |
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Area : |
2000 sq. ft. |
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Location : |
Rented |
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Factory 2 : |
No.31, Near Durgah Mohalla, Bijinapura, Doorvani Nagar, Bangalore
-560014, Karnataka. |
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Area : |
2000 sq. ft |
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Location : |
Rented |
SOLE PROPRIETOR
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Name : |
Mr. Akhillur Rehman |
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Designation : |
Proprietor |
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Date of Birth/Age : |
40 years |
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Qualification : |
Graduate |
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Experience : |
20 years |
BUSINESS DETAILS
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Line of Business : |
Manufacturing of machine components for automobile Industries also
providing job work services in the above area. |
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Products : |
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Terms : |
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Selling : |
Cash and Credit (30 days) |
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Purchasing : |
Cash and Credit (30 days / 60 days) |
GENERAL
INFORMATION
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Customers : |
· Manufacturer · BOSCH Limited,
Bangalore · S B Precision
Products, Bangalore · Sreys
Engineering, Bangalore |
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Suppliers : |
· Star Wire India
Limited, Faridabad · Saatveeka
Trading, Bangalore · Laxmi Industries
Bangalore |
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No. of Employees : |
30 |
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Bankers : |
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Facilities : |
Operating on own funds |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Nayaz and Company Chartered Accountant |
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Address : |
Bangalore, India |
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Memberships : |
Muslim Industrialists Associates |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 6.000 millions |
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Borrowed : |
- |
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Total : |
Rs. 6.000 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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6.000 |
5.000 |
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Profit/Loss for the year |
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15% |
15% |
Expected Sales (2008-09) : Rs.7.000 millions
Average Value of Investments at any given
time: Rs.0.500 Million
LOCAL AGENCY
FURTHER INFORMATION
Trust
seal Acceptance Chart:
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Parameters |
Details |
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Existence
Verification |
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Name |
Chowdhary Automobile |
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Address |
19, 30th Cross, Near Sagar Appolo Hospital, 4th
Block Jayanagar East, Bangalore, 560041, India |
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Phone/ Mobile Numbers |
91-80-26644822/ 9345538078 |
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Electricity Bills |
SP - 2255 |
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Statutory
Approvals |
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Legal Status of
Firm |
Proprietory |
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Income Tax Registration (PAN) |
Personal : ABQPR0274C |
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Central Sales Tax Registration |
Concern: AACFC0244R |
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State Sales Tax Registrations |
CST: 9335336-2, KST: 9330366-0 |
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TIN
Registration |
29390136131 |
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Import Export code |
In Process |
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Excise Registration |
AACFC0744 RXM002 |
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Name Of Bank |
ICICI Bank |
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Current Account No |
025105004301 |
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Account Since |
3 years |
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Credibility
Factors |
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India Mart Clint Since |
In Process |
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Years of Establishment |
1984 |
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Tread
Affiliation |
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SSI
Registration |
08/01/25150/PMT/SSI |
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Export Promotion Council |
NO |
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Chambers of Commerce Membership |
NO |
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D & B D-U-N-S Number |
NO |
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Govt. Recognised Export House States |
NO |
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Other Affiliations |
Muslim Industrialists Associates |
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Standards and
Certifications |
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Quality Management System |
ISO 9001:2000 |
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Environment Management System |
NO |
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Safety Certificates |
NO |
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Products Certificates |
NO |
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Other Certificate |
NO |
TRADE REFERENCE:
· Bosch Limited – German Company
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 records 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.42.79 |
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UK Pound |
1 |
Rs.83.77 |
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Euro |
1 |
Rs.66.71 |
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 |
NO |
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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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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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