MIRA
INFORM REPORT
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Report Date : |
06.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
SIMTRONICS ANALYTICAL AND LAB INSTRUMENTS |
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Registered Office : |
Plot No.47, 1A, Phase – 1, Panchkula – 160 019, Haryana |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
2004 |
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IEC No.: |
2207005178 |
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TIN No :l |
06972505077 |
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PAN No.: [Permanent
Account No.] |
AQSPK4190P |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer and Supplier of Scientific Instruments. |
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 5000 |
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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. Payment are usually correct and as per commitment. The concern can be considered normal for business dealings at usual
trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. A. K. Sharma |
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Designation : |
Proprietor (Chief Executive Officer) |
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Date : |
25.10.2008 |
LOCATIONS
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Registered Office/ Factory : |
Plot No.47, 1A, Phase – 1, Panchkula – 160 019, Haryana, India |
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Tel. No.: |
91-172-5066510 |
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Mobile No.: |
91-9872020445 |
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E-Mail : |
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Website : |
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Area : |
1000 sq ft |
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Location : |
Rented |
SOLE PROPRIETOR
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Name : |
Mr. A. K. Sharma |
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Designation : |
Proprietor (Chief Executive Officer) |
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Date of Birth/Age : |
41 Years |
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Qualification : |
Graduate |
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Experience : |
19 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Supplier of Scientific Instruments. |
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Products : |
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Exports : |
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Countries : |
Asian Countries |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS
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Capacity to
increase production by : |
50% |
GENERAL
INFORMATION
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Customers : |
Research Institute and Laboratory |
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No. of Employees : |
6 |
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Bankers : |
Indian Overseas Bank, Panchkula – 160 019, Haryana, India |
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Facilities : |
-- |
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Banking
Relations : |
Satisfactory |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.1.000 Million |
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Borrowed : |
-- |
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Total : |
Rs.1.000 Million |
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 |
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3.800 |
3.200 |
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Profit/Loss for the year |
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12% |
12% |
Expected Sales (2008-09): Rs.5.000 Millions
LOCAL AGENCY
FURTHER INFORMATION
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Parameters |
Details |
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Existence Verification |
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Name |
Simtronics Analytical and Lab Instruments |
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Address |
Plot No.47, 1A, Phase – 1, Panchkula – 160 019, Haryana, India |
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Phone/ Mobile Numbers |
91-172-5066510 |
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Statutory Approvals |
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Legal Status of Firm |
Proprietorship Concern |
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Income Tax Registration |
AQSPK4190P |
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VAT/ TIN Registration |
06972505077 |
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Import Export Code |
2207005178 |
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Name of Bank |
Indian Overseas Bank, Haryana, India |
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Credibility Factors |
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Years of Establishment |
2004 |
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Turn Over |
Rs.3.800 Millions |
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Turn Over Year |
2008 |
As Per Websites
Founded in 2004 in
Chandigarh, India, Subject has rapidly grown to become a world-class, leading
manufacturer of Lab, water, soil and other quality instruments. With having
large network of dealers all over India, Subject is well known as an innovator
with common sense solutions to Lab, water, soil testing and analysis.
Technical advances with ease-of-use have been the main ingredients of the
Subject approach. The application of new technology has led to products which
are accessible to a wider user base. Subject products are engineered to be used
by technical and non-technical operators alike. This is the Subject tradition
and commitment to their customers.
People working at Subject are committed to provide Best-Quality and Cost-Effective products.
Strengthened network of dealers help them to grow day by day. Their goal for the future is to continue to provide customers with reliable and accurate instrumentation. Their commitment to quality and continuous improvement, as evidenced by their customers and clients, will help them continue to create products that meet their customers' changing needs.
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.47.18 |
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UK Pound |
1 |
Rs.75.05 |
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Euro |
1 |
Rs.60.89 |
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 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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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 |
YES |
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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 |
YES |
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TOTAL |
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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
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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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