MIRA
INFORM REPORT
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Report Date : |
26.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
TOOLS CORNER |
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Registered Office : |
5 Hamidua Road, Bhopal 462001, Madhya Pradesh |
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Country : |
India |
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Financials (as on) : |
24.03.2008 |
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Date of Incorporation : |
1971 |
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Com. Reg. No.: |
TIN NO: 23263700615 |
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IEC No.: |
1105006697 |
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PAN No.: [Permanent
Account No.] |
AAUPB4607N |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Suppliers of machineries |
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 2000 |
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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 having satisfactory
track. Trade relations are fair. Business is active. Payments are reported as
usually correct and as per commitments. The concern can be considered normal for business dealings at usual
trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Deepak Bora |
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Designation : |
Proprietor |
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Mobile No: |
91-9893026528 |
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Date : |
26.03.2008 |
LOCATIONS
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Registered Office : |
5 Hamidua Road, Bhopal 462001, Madhya Pradesh, India |
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Tel. No.: |
91-755-2741651 / 274 |
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Mobile No.: |
91-9893026528 |
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Fax No.: |
91-755-2740398 |
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E-Mail : |
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Location : |
Leased |
SOLE PROPRIETOR
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Name : |
Mr. Deepak Bora |
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Designation : |
Proprietor |
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Address : |
3, Idgah Hills, Opposite Idgah Gate, Bhopal 462001 (Madhya Pradesh) |
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Date of Birth/Age : |
11.11.1958 |
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Qualification : |
M. Tech |
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Experience : |
25 years |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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Percentage of
Holding |
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Deepak Bora |
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100 % |
BUSINESS DETAILS
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Line of Business : |
Suppliers of machineries |
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Agencies Held : |
v Fenner V Belts v Bosch Limited |
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Terms : |
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Selling : |
Credit 60 days |
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Purchasing : |
Credit 60 days |
GENERAL
INFORMATION
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Customers : |
End Users
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No. of Employees : |
4 |
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Bankers : |
Allahabad Bank, Nadara Bus Stand Building, Hamidia Road, Bhopal 462001 |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
B.C.P. Jain and Company Chartered Accountant |
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Address : |
Nupur Kunj, Shivaji Nagar, Bhopal |
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Tel. No.: |
91-755-2551857 |
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Fax No.: |
91-755-2551857 |
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Associates/Subsidiaries : |
v Bora Brothers Address
: 5 Hamidia Road, Bhopal Line of Business: Industrial
Consumables, Hardware, Tools and
Machineries v Bora Brothers
Industries Address : 76-79 Industrial area, Govindpura, Bhopal
462023 Line of Business: Heavy Steel
Fabrication for Railways, BHEL, Defence and Others |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 0.412 Million |
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Borrowed : |
-- |
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Total : |
Rs. 0.412 Million |
FINANCIAL DATA
[all figures are in Rupees Millions]
SUMMARISED BALANCE
SHEET
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Particulars |
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24.03.2008 |
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Share Capital |
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0.412 |
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FIXED ASSETS [Net Block] |
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0.102 |
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Inventories |
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0.189 |
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Sundry Debtors |
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0.376 |
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Cash & Bank Balances |
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0.135 |
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Other Current Assets |
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0.009 |
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Current Liabilities |
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0.136 |
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Provisions |
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0.030 |
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Sales Turnover |
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3.532 |
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Other Income |
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0.002 |
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Profit/(Loss) Before Tax |
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0.223 |
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Provision for Taxation |
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0.073 |
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Profit/(Loss) After Tax |
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0.150 |
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Dividend |
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30 % |
LOCAL AGENCY
FURTHER INFORMATION
TRADE REFERENCE:-
v
Crompton Greaves Limited, T 3 Division, New Industrial Area, Mandideep.
Mr. C. G. Saraf
v
V A Tech Hydro India Limited
D 17 AKVN Industrial
Area, Mandideep,
Mr. Pankaj Sinha
v
Eicher Tractors
Plot No.1,
Industrial Area, Madideep.
Mr. Avinash Verma
v
HEG Limited
Mandideep,
Mr. O. P. Khambra
Subject acts as a dealer for the following companies :
- Transmission
Products of Fenner (India) Limited
- Power Tools
of Bosch Limited
A subject is a well established Industrial
House of Bhopal and has been in Business for 50 Years. All the Industries in
and around Bhopal are their Customers.
Subject is regular suppliers of Machineries to
these companies and with opening of Imports are in the process of identifying
suitable suppliers of machineries globally for the customers.
Tools corner will be the Channelising Agency
for these Imports.
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.40.14 |
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UK Pound |
1 |
Rs.80.14 |
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Euro |
1 |
Rs.62.59 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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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 |
6 |
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--LEVERAGE |
1~10 |
6 |
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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 |
YES |
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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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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
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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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