MIRA
INFORM REPORT
|
Report Date : |
28.03.2008 |
IDENTIFICATION
DETAILS
|
Name : |
PEENA
TRADERS |
|
|
|
|
Registered Office : |
158, Veena Dalvai Industrial Estate, S V Road, Oshiwara,
Jogeshwari (West), Mumbai – 400 102, Maharashtra, India. |
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Country : |
India |
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|
|
Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1997 |
|
|
|
|
Legal Form : |
Sole
Proprietory Concern |
|
|
|
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Line of Business : |
Manufacturer
of Energy Requlators, Thermostates, Fitting Elements 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
20000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually
Correct |
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|
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Litigation : |
Clear |
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|
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Comments : |
Subject
is a small concern having satisfactory track. Trade relations are fair.
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: |
158, Veena Dalvai Industrial Estate, S V Road, Oshiwara,
Jogeshwari (West), Mumbai – 400 102, Maharashtra, India. |
|
Tel. No.: |
91-22-26794098 |
|
Mobile No.: |
91-9867302914/
91-22-36794098 |
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Fax No.: |
91-22-66780096 |
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E-Mail : |
|
|
Website : |
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|
Area : |
400
sq. ft. |
|
Location : |
Rented |
|
|
|
|
Factory: |
225,
Veena Dalvai Industrial Estate, S V Road, Oshiwara, Jogeshwari (West), Mumbai
– 400 102, Maharashtra, India. |
|
Area: |
400
sq ft. |
|
Location: |
Rented |
SOLE
PROPRIETOR
|
Name : |
Mr.
Mitesh Shah |
|
Designation : |
Proprietor |
|
Date of Birth/Age : |
37
Years |
|
Qualification : |
Post
Graduate / B. E. (Electronics) |
|
Experience : |
17
Years |
BUSINESS
DETAILS
|
Line of Business : |
Manufacturer
of Energy Regulators, Thermostates, Fitting Elements etc. |
|
|
|
|
Exports to : |
South
Africa, Kenya, Middle East, Australia, Argentina, Italy |
|
|
|
|
Imports : |
|
|
Products: |
Raw
Materials |
|
Countries: |
China |
GENERAL
INFORMATION
|
Customers : |
Wholesalers |
|
|
|
|
No. of Employees : |
19 |
|
|
|
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Bankers : |
v
ICICI Bank Limited Shoppers Stop, Andheri (West),
Mumbai v
Vijaya Bank Vile Parle (W) Branch, Opposite
Railway Station |
|
Auditors : |
K.
Burmani & Associates (Mr. Kishore Burmani) Chartered
Accountants |
|
|
Mobile No.: |
91-9821025189 |
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|
|
|
|
|
Associates/Subsidiaries : |
v H. K. Shah and Company Lohar Chawl,
Mumbai Line of Business: Trading of Spares,
Ceramics etc. v Shah Electronics
and Electricals 16, Veena B Dalval
Industrial Estate Line of Business: Manufacturer of
Temp. Controllers |
|
CAPITAL
STRUCTURE
|
Capital
Investment : |
|
|
Owned : |
Rs.
5.000 Millions |
|
Borrowed : |
0.000 |
|
Total : |
Rs.
5.000 Millions |
FINANCIAL
DATA
[all
figures are in Rupees Millions]
|
Particulars |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
Sales Turnover |
8.000 |
6.700 |
6.000 |
Expected
sales for the year 2007-08 is Rs. 8.500 Millions
LOCAL
AGENCY FURTHER INFORMATION
AS PER WEBSITE DETAILS
Manufacturer, Supplier & Exporter of Electronics & Temperature control Equipments
Peena Traders
Leading the way with Quality and Dedication for over 3 decades. HK Shah Co. was
established way back in the year 1960 as one of the leading manufacturer of
Electrical, Electronics & Temperature controls and has an annual turnover
of 10 Million Rupees with major exports to countries like Central Africa, South
Africa, Argentina, Middle East, Australia etc. Its has been an active member of
the Bureau of Indian Standards for over half a decade now. Thermocouples, Panel
Components, L.E.D Modules, Lighted Rocker Switches, Measuring Instruments Test
Leads, Temperature controllers, Digital Thermometer, Temperature Handle Probes,
Thermostats & Energy Regulators constitute the major line of their product
range.
Achieving better Quality through
innovation.
Quality and innovation through regular upgrading of technology is the key to
their success. The company has a fully equipped laboratory spread across 100
sq. ft for compliance testing with each instrument duly calibrated by standard
approved labs for optimum quality and accuracy.
Besides, their state-of-the art factory spread across 100sq.mts. provides an
integral environment for controlled and supervised coordination of the various
manufacturing processes.
Delivering Quality through better
quality vigilance.
The need to deliver Quality is the first step towards delivering Quality. Their
each product is exposed to rigorous quality sampling in their Quality-Assurance
Department under the vigilant eyes of trained professionals.
They also have an inward inspection stage where every incoming material is
inspected as per standard quality sampling plans with Q.A surveillance at
various stages of the process. Subsequent to which, the material is then
forwarded for reliability Tests. They also incorporate different statistical
techniques for defect analysis to improvise the process continuously. Finally a
job-card is generated, giving all the data of raw material and process to be
used and tests to be performed to ensure optimum quality.
Infact, the company has commenced incorporation of different guidelines to
comply with ISO-9000 procedures.
PRODUCTS
v
Bha 4a Series Snap Action Thermostat
v
Heater
Ceramics
v
Thermostat
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.40.10 |
|
UK
Pound |
1 |
Rs.80.40 |
|
Euro |
1 |
Rs.63.31 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
42 |
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/normal. |
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