MIRA
INFORM REPORT
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Report Date : |
07.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
KONARK PRODUCTS INDIA |
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Registered Office : |
Plot No.1228, Industrial Area, Ludhiana - 141010, Punjab |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
1993 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
JLDK01279F |
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PAN No.: [Permanent
Account No.] |
ACDPM6716C |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer of Packing Products, Cell Seeding, Blister Packaging and
Punnet Tray etc. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 2000 |
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Status : |
Small Concern |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively small concern in its field. Scale of operation
is limited. Trade relations are fair. Payments are reported as slow but
correct. The concern can be considered for small to mediocre business dealings
at usual trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Sahil Mangla |
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Designation : |
Proprietor |
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Contact No.: |
91-9915822822 |
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Date : |
06.05.2008 |
LOCATIONS
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Registered Office/ Factory : |
Plot No.1228, Industrial Area, Ludhiana – 141010, Punjab, India |
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Tel. No.: |
91-161-2511657 |
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Mobile No.: |
91-9915822822 |
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Fax No.: |
91-161-2511657 |
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Email : |
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Website : |
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Area : |
500 sq. mtrs |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Sahil Mangla |
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Designation : |
Proprietor |
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Address : |
Ludhiana, Punjab, India |
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Date of Birth/Age : |
24 years |
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Qualification : |
Graduate |
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Experience : |
2 years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Packing Products, Cell Seeding, Blister Packaging and
Punnet Tray etc. |
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Products : |
· Cell Seeding · Blister
Packaging · Punnet Tray · Packaging
Hand Tools · Food
Items · Edible
Items · MICS
Items · Industrial
Items · Cosmetics
Products |
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Exports : |
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Products : |
· Packing Products · Food Processing
Products |
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Countries : |
Newzeland |
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Terms : |
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Selling : |
L/C, Cash Credit (30 days) |
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Purchasing : |
L/C, Cash Credit (30 days), Sight Against Documents |
GENERAL
INFORMATION
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Customers : |
· Local and
Foreigners · Retailers · End Users |
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No. of Employees : |
8 |
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Bankers : |
State Bank of India, Ludhiana |
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Banking
Relations : |
- |
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Auditors : |
Not Appointed |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.0.500 Million |
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Borrowed : |
- |
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Total : |
Rs.0.500 Million |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
31.03.2008 |
31.03.2007 |
31.03.2006 |
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Sales Turnover |
45.200 |
3.800 |
3.500 |
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Profit/Loss for the year |
0.106 |
0.092 |
0.075 |
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LOCAL AGENCY
FURTHER INFORMATION
Trade Reference:
· Writely, Noida
· Shiv Forgings
Profile:
Subject established in 1996, the first concern in Punjab
which started Vaccum Forming Applications by setting state of the art plant.
Success in the 21st century business environment demands new approaches and a
re-evaluation of traditional customer/ supplier relationships. With concern as
the partner, access an expert team dedicated to delivering the efficiencies
want today and the innovations need for the future. They have more than 1000
moulds to provide the service to all type of industries, to promote the
products better and achieve the target. Their major concern Blister Packaging
is a cost effective way to display a retail product. Most retail stores prefer
blister packaging because it offers a tamper proof package and enhance the
beauty of the product. For a new product or a line extension they can develop
packaging that positions the product within the market place. Their people are
the key element of every packaging their deliver and each team member is an
expert in his own right.
Subject installed base of equipment is working day and night, packaging Hand
tools, Food items, Industrial items, cosmetics products and many more. Their
dedication to keeping it that way and the know-how acquired in thousands of
applications help to understand the day-to-day challenges of the business.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.40.69 |
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UK Pound |
1 |
Rs.80.25 |
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Euro |
1 |
Rs.63.08 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
4 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
4 |
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--RESERVES |
1~10 |
4 |
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--CREDIT LINES |
1~10 |
3 |
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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 |
NO |
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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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34 |
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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