MIRA
INFORM REPORT
|
Report Date : |
21.06.2008 |
IDENTIFICATION
DETAILS
|
Name : |
AGRAWAL METAL WORKS |
|
|
|
|
Registered Office : |
8/16, Mitra Nagar, Aligarh 202001, Uttar Pradesh |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2008 |
|
|
|
|
Year of Establishment : |
1975 |
|
|
|
|
IEC No.: |
0693002107 |
|
|
|
|
Com. Reg. No.: |
200202009 TMT |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAEFA9108R |
|
|
|
|
TIN No. : |
09625701288 |
|
|
|
|
Legal Form : |
Partnership concern with an unlimited liability of the partners. |
|
|
|
|
Line of Business : |
Manufacturer and Exporter of Door Fittings, Windows Fittings,
Curtains Roads and Fittings, Stair Roads and Carpet Brackets etc. |
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 32000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established and reputed concern meeting its normal
commitments timeously. Trade relations are fair. Business is active. The concern can be considered good for normal business dealings. |
INFORMATION PARTED
BY
|
Name : |
Mr. Abhishek Garg |
|
Designation : |
Partner |
|
Date : |
02.06.2008 |
|
|
|
|
Name : |
Mr. Arjun Dass |
|
Designation : |
Son of Mr. Abhishek Garg |
|
Date : |
02.06.2008 |
LOCATIONS
|
Registered Office : |
8/16, Mitra Nagar, Aligarh 202001, Uttar Pradesh, India |
|
Tel. No.: |
91-571-2521855 |
|
Mobile No.: |
91-9837336359 / 9837889525 |
|
Fax No.: |
91-571-2525282 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
200 sq mtrs. |
|
|
|
|
Factory : |
5/500, B-7, Shakti Area, Mitra Nagar, Aligarh - 202001 Uttar Pradesh,
India |
|
Area : |
2000 sq mtrs. |
PARTNERS
|
Name : |
Mr. M. P. Garg |
|
Designation : |
Partner |
|
Address : |
Aligarh |
|
Date of Birth/Age : |
60 years |
|
Qualification : |
Post Graduate |
|
Experience : |
30 years |
|
|
|
|
Name : |
Mr. Nitesh Garg |
|
Designation : |
Partner |
|
Address : |
Aligarh |
|
Date of Birth/Age : |
30 years |
|
Qualification : |
Post Graduate |
|
Experience : |
5 years |
|
|
|
|
Name : |
Mr. Abhishek Garg |
|
Designation : |
Partner |
|
Address : |
Aligarh |
|
Date of Birth/Age : |
25 years |
|
Qualification : |
Post Graduate |
|
Experience : |
1 year |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Door Fittings, Windows
Fittings, Curtains Roads and Fittings, Stair Roads and Carpet Brackets etc. |
|
|
|
|
Products : |
v Door Hardware
Fittings v Window Hardware
Fittings v Cabinet Hardware
Fittings v Hand Forged Iron
Fittings v Curtain Fittings v Stair Road And
Carpet Brackets v Brass v Aluminium v Iron v Zinc v Stainless Steel |
|
|
|
|
Exports : |
|
|
Products : |
Door Fittings and others |
|
Countries : |
Ø USA Ø Canada Ø South
Africa Ø Australia etc. |
|
|
|
|
Imports : |
|
|
Products : |
Machinery |
|
Countries : |
Ø Korea Ø China Ø Germany Ø Italy |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit (30 Days) |
|
|
|
|
Purchasing : |
Cash and Credit (30 Days) |
GENERAL
INFORMATION
|
Customers : |
End Users |
|
|
|
|
No. of Employees : |
30 (Office – 10 and Factory – 20) |
|
|
|
|
Bankers : |
State Bank of India, Aligarh |
|
|
|
|
Facilities : |
Rs. 10.000 Millions |
|
|
|
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Auditors : |
|
|
Name : |
Manoj Singhal and Associates Chartered Accountant |
|
Address : |
Aligarh |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Rs. 6.500 Millions |
|
Borrowed : |
0.000 |
|
Total : |
Rs. 6.500 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
SUMMARISED RESULTS
|
PARTICULARS |
|
31.03.2008 |
31.03.2007 |
|
|
|
|
|
|
Capital on Proprietor |
|
6.500 |
6.000 |
|
|
|
|
|
|
Secured Loans |
|
(8.900) |
7.500 |
|
|
|
|
|
|
Unsecured Loans |
|
(1.200) |
1.000 |
|
|
|
|
|
|
Fixed Assets |
|
16.900 |
0.000 |
|
|
|
|
|
|
Inventories |
|
8.700 |
0.000 |
|
|
|
|
|
|
Sundry Debtors |
|
12.000 |
0.000 |
|
|
|
|
|
|
Current Liabilities |
|
8.700 |
0.000 |
|
|
|
|
|
|
Profit before Tax: |
|
3.650 |
3.400 |
|
|
|
|
|
|
Sales Turnover |
|
100.000 |
95.900 |
|
|
|
|
|
|
Profit/Loss for the year |
|
3.650 |
3.400 |
LOCAL AGENCY FURTHER
INFORMATION
Trustseal Acceptance Chart
|
Parameters |
Details |
|
Existence
Verification |
2008/54571 |
|
Name |
AGRAWAL METAL WORKS |
|
Address |
8/16, Mitra Nagar, Aligarh 202001, Uttar Pradesh, India |
|
2nd Address |
8/16, Mitra Nagar, Aligarh 202001, Uttar Pradesh, India |
|
Phone / Mobile Numbers |
91-571-2521855 / 2525282 / 91-9837336359 /
9837889525 |
|
Fax Number |
91-571-2525282 |
|
Electricity Bill |
Electricity bill is in the name of the company. |
|
|
|
|
Statutory Approvals |
|
|
Legal status of Firm |
Partnership 1)
Mr. M. P. Garg 2)
Mr. Nitesh Garg 3)
Mr. Abhishek Garg |
|
Income Tax Registration |
AAEGA9108R |
|
Central Sales Tax Registration |
TIN No. 09625701288 |
|
State Sales Tax Registration |
9625701288 |
|
VAT / Tin Registration |
9625701288 |
|
Import Export Code |
AAEFA9108R |
|
Name of Bank |
State Bank of India, Aligarh |
|
Current Account Number |
Not Disclosed |
|
Emp PF Registered Number |
Not Registered |
|
Company ESI Registered Number |
Not Registered |
|
RBI Code Number |
AAEFA9108R |
|
|
|
|
Credibility
Factors |
|
|
Indiamart Client Since |
New Member |
|
Year of Establishment |
1975 |
|
Turn Over Year |
2008-Rs. 100.000 Millions 2007-Rs. 95.900 Millions |
|
|
|
|
Trade
Affliations |
|
|
SSI Registration |
200202009 TMT |
|
Export Promotion Council |
Yes |
|
|
|
|
Chambers of Commerce Memebership |
Nil |
|
|
All India Handicrafts Board |
|
D and B D-U-N-s Number |
Yes NO915550412 |
|
Government Recognised Export House Status |
All India Handicrafts Board |
|
Other Afflistions |
Aligarh Industries Association |
|
|
|
|
Standards and
Certifications |
|
|
Quality Management Systems |
Not Applicable as they are trading |
Trade References:-
v Local Customers
v Tulemak Overseas, New Delhi
v Mukund Overseas, Mumbai
Profile:-
Subject
is a manufacturing and exporting a highly durable range of building hardware
like Door Fittings, Window Fittings, Cabinet Fittings, Curtain Fittings,
Architectural Hardware, Stair Rod & Carpet Brackets. They manufacture these
products in Brass, Aluminium, Iron, Zinc and stainless steel. Product
technicality and perfect finish are two striking features of their products.
They have sufficient resources to handle orders in bulk and specialize in
completing the orders on the scheduled dates.
Their
products are rated high on quality as they are made from pure ferrous and
non-ferrous metals, for which the company is proud owner of prestigious &
stringent quality certification ISO 9001:2000 from DQS Gmbh, Germany. Based on
their product development and innovation expertise, they put extra efforts in
understating the requirement of the clients and make their products better with
time. This all, is helping them to excel in the industry.
As
is evident from annually growing sales of subject, they have following few lies
how its business is improving and what is plan for its further improvements in
the international markets.
They have been
strengthening our infrastructural base and adding facilities at regular time
periods. Their production unit is fully equipped with latest machines that
comprise manufacturing machines, finishing and quality check machines. Their
manufacturing process conforms to the international standards. Some of the
highlights of our infrastructural strengths are mentioned below:
v
Manufacturing unit is spread over an area of around 1400 sq. yards.
v
Latest hardware manufacturing equipments for quality production.
v
Backed up by a team of experienced professionals and technical staff.
v
In house design and research & development unit.
Finishing is one
aspect that distinguishes between an average item and good item. Whatever be
the base material, finishing adds value to the quality and attraction
remarkably. They make use of finest machines for hardware finishing. Apart from
offering variety, furnishing is very necessary to prevent products from
corrosion and normal wear and tear. They give excellent finishes to all the
hardware items using their automated machines for metal surface finishing and
electroplating. Some of the most common finishes and plating that they provide
include:
- Nickel Plating
- Nickel chrome Plating
- Chrome Plating
- Satin Nickel/Satin Chrome Plating
- Gold Plating
- Satin Gold/Glossy Gold
- Antique/Black Antique/Silver Antique
- Brushed Nickel/Brushed Chrome
- Gloss/Matt finishes in many colors
- Black Nickel & Other customer
Specific Finishes
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.42.97 |
|
UK Pound |
1 |
Rs.84.75 |
|
Euro |
1 |
Rs.66.72 |
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 |
YES |
|
--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 |
NO |
|
--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 |
|