MIRA
INFORM REPORT
|
Report Date : |
23.06.2008 |
IDENTIFICATION
DETAILS
|
Name : |
GLOBAL METALS |
|
|
|
|
|
|
Registered Office : |
401, Jeet Complex, Jain Derasar Lane, Off. C. G. Road, Ahmedabad, Gujarat, India |
|
|
|
|
|
|
Financials (as on) : |
31.03.2008 [Estimated] |
|
|
|
|
|
|
Date of Incorporation : |
February, 2003 |
|
|
|
|
|
|
Com. Reg. No.: |
24/07/55961 |
|
|
|
|
|
|
IEC No. |
0804009431 03.11.2004 |
|
|
|
|
|
|
PAN No.: [Permanent
Account No.] |
AF2PP4575R |
|
|
|
|
|
|
Legal Form : |
Sole Proprietory Concern |
|
|
|
|
|
|
Line of Business : |
Indenting Agent for Non-ferrous Metal Scrap and Consultancy [Import – Export] |
|
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 2000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established indenting agent. Proprietor is reported as experienced and respectable businessman. His trade relations are reported as fair. Business is active. Payments are usually correct and as per commitments. The concern can be considered normal for business dealings at usual trade terms and conditions. |
LOCATIONS
|
Registered Office : |
401, Jeet Complex, Jain Derasar Lane, Off. C. G. Road, Ahmedabad 380009, Gujarat, India |
|
Tel. No.: |
91-79-26405100 / 26406100 |
|
Mobile : |
91-9426082201/9898980404 |
|
Fax No.: |
91-79-26400767 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
Rented – 700 sq. ft. |
|
|
|
|
Overseas Office: |
Globemet International F.Z.E Ajman Free Zone, P. O. Box: 69700, Sharjah
– U.A.E |
|
Tel. No.: |
971-50-9451780 |
|
E-mail: |
SOLE PROPRIETOR
|
Name : |
Mr. Vinod Purohit |
|
Designation : |
Proprietor |
|
Address : |
B – 3, Goyal Plaza, Judges Banglow Road, Bodakdev – Satellite, Ahmedabad, Gujarat, India |
|
Date of Birth/Age : |
36 years |
|
Qualification : |
MBA |
|
Experience : |
10 years |
BUSINESS DETAILS
|
Line of Business : |
Indenting Agent for Non-ferrous Metal Scrap and Consultancy [Import – Export] |
|
|
|
|
Products : |
Ø Non – Ferrous Metal Scrap Ø Aluminium Alloys Ø Aluminium De-Ox Ø Aluminium Wire Rod Ø Re-Melted Ingots Ø Aluminium Billets |
|
|
|
|
Exports to : |
U.A.E., U.K. Singapore and Turkey |
|
|
|
|
Imports from : |
UAE |
|
|
|
|
Terms : |
|
|
Selling : |
L/C, Cash & Credit |
|
|
|
|
Purchasing : |
L/C, Cash & Credit |
GENERAL
INFORMATION
|
Suppliers : |
> Shar Metal Scrap Company Limited P. O. Box No. 40692, Sharjah – United Arab Emirates Contact Person : Mr. Simon Thomas Tel. : +971-6-5430007/5430054 Mobile : +971-50-5872893 > Lucky Recycling Limited P. O. Box 16850, Jebel Ali – Free Zone, Dubai, United Arab Emirates Contact Person : Mr. Zakir Hussain Tel. : +971-4-2610516 Mobile : +971-50-6257382 > Dietiker Ag Fur Rohmetallie P O Box No. 22376, Sharjah, United Arab Emirates Contact Person : Mr. Sohail Naqvi Tel. : +971-6-5334786 Mobile : +971-50-6314812 > Mountstar Metal Corporation Limited Rail Works Railways Slidings, Bedfordshire, United Kingdom Contact Person : Mr. Stewart Armitage Tel. : +44-1767-319603 Mobile : +44-7850 609819 > Beaver Metals Marsh Lane Water Orton, Birmingham – B46 1NS, United Kingdom Contact Person : Mr. Richard Beaven Tel. : +44-121-7767099 Mobile : +44-7976755630 > Remet Al. San. Ic Ve Dis Tic. Ltd. Sti. Dogu Sanayi Sitesi 13, Blok No. 15, Yenibosna – Istanbul, Turkey Contact Person : Mr. Erhan Demirtas Tel. : +90-212-5516100 Mobile : +91-5422750721 |
|
|
|
|
Customers : |
Exporters, End Users and Traders |
|
|
|
|
No. of Employees : |
Office - 5 |
|
|
|
|
Bankers : |
> HSBC Bank C. G. Road, Ahmedabad, India |
|
|
|
|
Banking Relations
: |
Satisfactory |
|
|
|
|
Auditors : |
Sudip Dasani & Company Chartered Accountants 288 – New Cloth Market, Ahmedabad, Gujarat, India |
|
Tel. No.: |
91-79-22160090 |
|
|
|
|
Memberships: |
> Ahmedabad Management Association [AMA] > EXIM Club - Ahmedabad > Indo-China Chamber of Commerce [ICCC], Ahmedabad > India Lead Zinc Development Association [ILZDA], New Delhi |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Rs. 0.550 Million |
|
Borrowed : |
-- |
|
Total : |
Rs. 0.550 Million |
FINANCIAL DATA
[all figures are in Rupees Millions]
|
Particulars |
|
|
31.03.2008 |
|
Commission [Estimated] |
|
|
2.000 |
|
|
|
|
|
|
Profit/Loss for the year [Estimated] |
|
|
0.300 |
LOCAL AGENCY
FURTHER INFORMATION
It is in trade terms with :
> Mittal Appliances Limited
2, Shivajinagar, Indore, Madhya Pradesh
Contact Person : Mr. Dinesh Mittal
Tel. No. : 91-731-2537955/56/57
Mobile : 91-9826042728
> Palco Metals Limited
Off. Khanwadi, Ramol Road, C. T. M., Ahmedabad, Gujarat
Contact Person : Mr. K. B. Agarwal
Tel. No. : 91-79-25626178/25855338
Mobile : 91-9327007628
> Arfin Enterprises Limited
H – 10 New Madhavpura Market, Near Police Commissioner Office, Shahibaugh, Ahmedabad,
Gujarat
Contact Person : Mr. Mahendra Shah
Tel. No. : 91-79-25622281
Mobile : 91-9426080503
> B R Metals & Alloys Private Limited
F – 4, New Madhavpura Market, Near Police Commissioner Office, Shahibaugh, Ahmedabad,
Gujarat
Contact Person : Mr. Babulal Ji
Tel. No. : 91-79-25633928
Mobile : 91-9824037004
> Noida Aluminium Private Limited
B 29 Phase II Extension, Hoisery Complex, Noida, Uttar Pradesh
Contact Person: Mr. Sharad Garg
Tel. No. : 91-11-23672400
Mobile : 91-9811059440
> D. C. Metals
196 Kika Street, Gulal Wadi, Mumbai
Contact Person : Mr. Dilip Bhansali
Tel. No. : 91-22-56362084
Mobile : 91-9321028254
AS PER WEBSITE DETAILS:
Profile:
In a global market place buyers and sellers need
to exchange goods in a timely and cost effective manner to maximize
profits. Searching for a counterpart in
a global market is a specialised job and they offer a range of specialised
services well suited to their customers needs.
They are a
group of enterprising professionals with a proven track record spanning over a
decade of material management experience in the global scenario with a special
contribution in international metal trade.
Their group experience in Non-Ferrous manufacturing, imports and
international trade gives them a unique edge in understanding the specific needs of their varied customers
and creating a lucrative situation for both the buyers and sellers.
Their guiding
principle of providing their client with products that meet their
specifications, reliably delivered at a reasonable price in Domestic and
International Markets helps them achieve a healthy business environment
catering to a global network of highly satisfied customers.
The unique sense of ownership that they take for all their
customer deals gives a better level of comfort and security and enhances the
faith and trustworthiness that they offer to their customers.
They have laid a special thrust on technology for serving
their customers efficiently and effectively. Integration of technology in their
system has helped them serve their customers in a transparent and ethical
manner with virtually an error free operational system.
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
|
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 |
5 |
|
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 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
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 |
|
|
>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 |
|