MIRA INFORM REPORT

 

 

 

Report Date :

16.06.2008

 

IDENTIFICATION DETAILS

 

Name :

GEM OPTICAL INSTRUMENTS INDUSTRIES

 

 

Registered Office :

109, HSIDC Industrial Area, Ambala Cantt 133006, Haryana

 

 

Country :

India

 

 

Financials (as on) :

31.03.2008

 

 

Year of Establishment:

1985

 

 

Com. Reg. No.:

05-01-06686-PMT-897

 

 

IEC No.:

3397000947

 

 

PAN No.:

[Permanent Account No.]

AASPB4605N

 

 

Legal Form :

Sole Proprietory Concern

 

 

Line of Business :

Manufacturer and Exporter of Scientific and Optical Instruments

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

 

Maximum Credit Limit :

USD 5000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

Comments :

Subject is a well established and reputed concern meeting its local commitments timeously.  Trade relations are fair.  Business is active.

 

The concern can be considered good for normal business dealings.

 

 

INFORMATION PARTED BY

 

Name :

Mr. Surender Kumar Bhola

Designation :

Proprietor

Date :

06.06.2008

 

 

LOCATIONS

 

Registered Office/Factory :

109, HSIDC Industrial Area, Ambala Cantt 133006, Haryana, India

Tel. No.:

91-171-2698284

Mobile No.:

91-9896000576 / 9896179794

Fax No.:

91-171-2698284

E-Mail :

surrender@germoptical.com

Website :

www.gemoptical.com

Area :

10000 Sq. fts.

 

 

SOLE PROPRIETOR

 

Name :

Mr. Surendra Kumar Bhola

Designation :

Proprietor

Address :

Ambala Cantt, Haryana 133006, India

Date of Birth/Age :

40 Years

Qualification :

Graduate

Experience :

15 Years

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

Names of Shareholders

 

No. of Shares

Partners and Family Members

 

1000000

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer and Exporter of Scientific and Optical Instruments

 

 

Products :
  • Ent Operating Microscope
  • Eye Operating Microscope
  • Dental Microscope
  • Keratometer
  • Stereo Zoom Binocular Microscope
  • Stereo Zoom Trinocular Microscope
  • STEREO ZOOM BINOCULAR
  • STEREO ZOOM TRINOCULAR
  • Slit Lamp
  • Keratometer
  • Dual Trinocular Microscope
  • Retinoscope
  • Dental Microscope
  • Keratometer
  • Trial Lens Set
  • Colposcope-1
  • Eye Operating Microscope
  • Video Colposcope
  • Pathological/Medical Inclined Microscope
  • Pathological/Medical Inclined Microscope
  • Binocular Research Microscope
  • Gem Binocular Micro-Star

 

 

 

Exports :

 

Products :

Optical instruments

Countries :

Vietnam

 

 

Terms :

 

Selling :

Cash and Credit

 

 

Purchasing :

Cash and Credit

 

PRODUCTION STATUS

 

Particulars

 

 

 

Actual Production

Scientific and Optical Instruments

 

 

 

As per demand

 

 

GENERAL INFORMATION

 

Customers :

End Users

 

 

No. of Employees :

30 [In Office 5 + In Factory 25]

 

 

Bankers :

Axis Bank, Ambala Cantt, Haryana 133006, India

 

 

 

Banking Relations :

Satisfactory

 

 

Associates/Subsidiaries :

Gem Optic and Gem Impex, Ambala

 

 

CAPITAL STRUCTURE

 

Capital Investment :

 

Owned :

Rs. 1.000 Million

Borrowed :

--

Total :

Rs. 1.000 Million

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

Particulars

 

 

31.03.2008

31.03.2007

Sales Turnover

 

4.000

3.846

 

 

 

 

Profit/Loss for the year

 

0.120

0.098

 

 

 

 

Proprietors Share Capital

 

1.000

0.870

 

 

 

 

Fixed Assets

 

4.950

4.500

 

 

 

 

Inventories

 

1.500

1.700

 

 

 

 

Sundry Debtors

 

2.343

2.054

 

 

 

 

Current Liabilities

 

4.013

3.908

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Trade References:

 

 

 

OTHER INFORMATION:-

 

PARAMETER

DETAIL

 

 

Existence Verification

 

Name

GEM OPTICAL INSTRUMENTS INDUSTRIES

Address

109, HSIDC Industrial Area, Ambala Cantt, Haryana 133006, India

2nd Address

109, HSIDC Industrial Area, Ambala Cantt, Haryana 133006, India

Phone / Mobile Numbers

91-171-2698284 / 9896000576

Electricity Bill

Electricity bill is in name of Company

 

 

Statutory Approval

 

Income Tax Registration

AASPB4605N

Central Sales Tax Registration

06861023220

State Sales Tax Registration

6861023220

VAT / TIN Registration

6861023220

Import Export Code

3397000947

Name of Bank

Axis Bank, Ambala Cantt, Haryana 133006, India

Emp PF Reg Number

Registered

Company ESI Reg. Number

YES

RBI Code Number

AASPB4605N

 

 

Credibility Factors

 

India Mart Client Since

New Member

Years of Establishment

1985

 

 

Trade Affiliations

 

Export Promotion Council

Export Promotion Council and Trade India

Chambers of commerce Membership

Haryana Chamber of Commerce

Government Recognized Export House Status

Export Promotion Council

Other Affiliations

Scientific Instrument Manufacturers Association

 

 

Standard and certifications

 

Quality Management Systems

YES

Safety Certificates

YES

 

 

 

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. 42.87

UK Pound

1

Rs. 83.41

Euro

1

Rs. 66.11

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

6

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

6

--PROFITABILIRY

1~10

4

--LIQUIDITY

1~10

6

--LEVERAGE

1~10

6

--RESERVES

1~10

5

--CREDIT LINES

1~10

5

--MARGINS

-5~5

--

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

NO

--LITIGATION

YES/NO

NO

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

YES

--AFFILIATION

YES/NO

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

TOTAL

 

48

 

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

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

NR

In view of the lack of information, we have no basis upon which to recommend credit dealings

No Rating

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions