MIRA
INFORM REPORT
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Report Date : |
29.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
GALAXY ELECTRONICS |
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Registered Office : |
148, Bhusari Colony, Paud Road, Kothrud Pune – 411038, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2008 (Group Turnover) |
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Year of Establishment : |
1990 |
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PAN No.: [Permanent
Account No.] |
AABFG0615J |
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Legal Form : |
Partnership concern with an unlimited liability of the partners. |
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Line of Business : |
Manufacturer and Exporter of UPS. |
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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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established concern having satisfactory track. Trade
relations are fair. Payments are usually correct and as per commitments the
concern is doing well. Nothing adverse reported. The concern can be
considered normal for business dealings at usual trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. D. S. Kode |
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Designation : |
Regional Manager |
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Date : |
29.05.2008 |
LOCATIONS
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Registered Office : |
148, Bhusari Colony, Paud Road, Kothrud Pune – 411038, Maharashtra,
India |
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Mobile No.: |
91-9422345938 / 9225511400 |
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Fax No.: |
91-20-24321744 |
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E-Mail : |
directoraiqm@gmail.com |
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Website: |
www.galaxyups.com |
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Area : |
570 sq ft |
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Location : |
Owned |
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Branch : |
B-2/205, Loggurav, LBS Road, Vikroli (West), Mumbai – 400058,
Maharashtra, India |
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Tel. No.: |
91-22-25791800 / 25790460 / 25790461 |
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Fax No.: |
91-22-25774087 |
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E-Mail : |
galaxyups@gmail.com |
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Area : |
550 sq ft |
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Location : |
Owned |
PARTNERS
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Name : |
Mr. B. D. Lubal |
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Designation : |
Partner |
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Date of Birth/Age : |
42 years |
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Name : |
Mr. G. K. Singh |
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Designation : |
Partner |
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Date of Birth/Age : |
57 years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of UPS. |
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Exports : |
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Products : |
UPS |
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Countries : |
Tazania, African Countries, Srilanka, Nepal and Pakistan |
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Terms : |
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Selling : |
100% Advance |
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Purchasing : |
100% Advance |
GENERAL
INFORMATION
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Customers : |
End Users and Dealers. |
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No. of Employees : |
32 |
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Bankers : |
v HDFC, Ghatkopar,
Mumbai v HDFC, F.C. Road,
Pune |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Mr. C. V. Deshpande (Chartered Accountant) |
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Address : |
Pune |
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Associates/Subsidiaries : |
v Galaxy
Electronics India Inc, Mumbai Line of Business: Manufacturer and
Exporter of UPS. v Galaxy Power
Systems, Pune Line of Business:
Manufacturer and Exporter of UPS. |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Not Available |
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Borrowed : |
Not Available |
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Total : |
Not Available |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2008 |
31.03.2007 |
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Sales Turnover (Group Turnover) |
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120.000 |
75.000 |
LOCAL AGENCY FURTHER
INFORMATION
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Parameters |
Detail |
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Statutory
Approvals |
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Income Tax Registration |
AABFG0615J |
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Central sales tax registration |
27440307584C |
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State sales tax registration |
27440307584V |
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VAT / TIN Registration |
27440307584C |
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Name of Bank |
HDFC Bank |
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Current Account number |
1032320000955 |
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Account since |
7-8 years |
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Credibility
factors |
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Indiamart Client Since |
2 years |
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Trade
Affliations |
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SSI Registration |
No |
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Export promotion council |
No |
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Chambers of commerce membership |
Yes |
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Standards and
Certificates |
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Quality Mangement Systems |
Yes |
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Environment Mangement Systems |
No |
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Other Certificates |
ISO -9000 |
Profile :-
Subject is a well-known name in power-electronics industry
in Asia and Africa. Established by experts with I.I.T. / I.I.M. background and
long experience in the field of power electronics. Our first manufacturing set
up was started in 1990.
Today, they have two additional manufacturing facilities,
each spread over an area of 10,000-plus sq. ft. in Delhi & Parwanoo (H.P.).
These facilities include a state-of-art R&D center for constant updation in
our designs. All their products are tested by reputed National Test Labs for
Specification, Environment, Safety & EMC.
Over the years subject
has developed an impeccable reputation as a leading supplier of
power-electronics products catering to the needs of a vast variety of
applications in Airlines, Banks, BPO’s, Defence, Hospitals, IT companies,
Manufacturing, Printing, Process Industries, R&D Establishments, Railways
and Telecom sectors.
Their two decades of
experience and application of latest technology have resulted in development of
products that cater to most severe power conditions in India, Nepal, Bangladesh
and Sri Lanka, Indonesia, Qatar, Uganda, Nigeria and New Zealand.
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.42.85 |
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UK Pound |
1 |
Rs.84.74 |
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Euro |
1 |
Rs.67.36 |
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 |
6 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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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 |
YES |
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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 |
NO |
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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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