MIRA
INFORM REPORT
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Report Date : |
07.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
NOBLE CORPORATION |
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Registered Office : |
61-A, Clare Road, Byculla (West), Mumbai - 400008,
Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
2002 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMN08285E |
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Legal Form : |
Partnership concern with an unlimited liability of the partners. |
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Line of Business : |
Dealer of Waterproofing materials, Construction chemicals etc. |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 88000 |
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Status : |
Good |
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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 fine track.
Partners are reported as experienced, respectable and having satisfactory
means of their own. Their trade relations are fair. Business is active.
Payments are usually correct and as per commitments. The concern can be considered good for normal business dealings. Input for this report was parted by Mr. Ghulam Husein, Partner of the
concern. |
INFORMATION PARTED
BY
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Name : |
Mr. Gulam Husain |
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Designation : |
Partner |
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Date : |
06.11.2008 |
LOCATIONS
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Registered Office : |
61-A, Clare Road, Byculla (West), Mumbai - 400008,
Maharashtra, India |
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Tel. No.: |
91-22-23052396 / 97 |
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Mobile No.: |
91-9820052396 |
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Fax No.: |
91-22-23090365 |
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E-Mail : |
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Website : |
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Area : |
15000 sq. ft. [Rented] |
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Factory : |
Located at : Pune [Area - 15000 sq. ft.] Bhiwandi [Area - 15000 sq. ft.] |
PARTNERS
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Name : |
Mr. Gulam Husein Tayobali |
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Designation : |
Partner |
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Address : |
701 Prabhukunj, 5, Peddar Road, Mumbai - 400026 |
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Date of Birth/Age : |
56 Years |
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Qualification : |
B. Com. |
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Experience : |
35 Years |
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Name : |
Mr. Nafisa Gulam Husein |
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Designation : |
Partner |
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Address : |
701 Prabhukunj, 5, Peddar Road, Mumbai - 400026 |
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Date of Birth/Age : |
48 Years |
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Qualification : |
B. A. |
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Name : |
Mr. Ubai Gulam Husein |
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Designation : |
Partner |
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Address : |
701 Prabhukunj, 5, Peddar Road, Mumbai - 400026 |
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Date of Birth/Age : |
27 Years |
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Qualification : |
MBA |
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Name : |
Mr. Taha Gulam Husein |
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Designation : |
Partner |
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Address : |
701 Prabhukunj, 5, Peddar Road, Mumbai - 400026 |
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Date of Birth/Age : |
25 Years |
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Qualification : |
MBA |
BUSINESS DETAILS
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Line of Business : |
Dealer of Waterproofing materials, Construction chemicals etc. |
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Imports : |
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Products : |
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Countries : |
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Terms : |
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Selling : |
Cash and Credit [30-60 days] |
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Purchasing : |
L/C and Credit [90 days] |
GENERAL
INFORMATION
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Customers : |
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No. of Employees : |
75 ( Office 30, Branches 45) |
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Bankers : |
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Banking
Relations : |
Satisfactory |
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Auditor: |
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Name: |
Raj Shirke and Associations Chartered Accountant |
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Address: |
Sion |
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Associates/Subsidiaries : |
Noble Protective
Systems Private Limited Address : 61A, Clare Road, Byculla, Mumbai – 400008, Maharashtra,
India Activity : Trader and Importer of Autoglass from China Thoro –
Buildcare Address : City Center – Synogong Street, Pune Camp Activity : Trader and Importer of Insulation Materials |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 21.947 Millions |
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Borrowed : |
-- |
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Total : |
Rs. 21.947 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2007 |
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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21.947 |
18.402 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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0.000 |
0.000 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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21.947 |
18.402 |
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LOAN FUNDS |
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1] Secured Loans |
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2.066 |
1.846 |
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2] Unsecured Loans |
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1.000 |
0.000 |
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TOTAL BORROWING |
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3.066 |
1.846 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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25.013 |
20.248 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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2.146 |
1.311 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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0.010 |
0.010 |
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DEFERREX TAX ASSETS |
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0.020 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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Sundry Debtors |
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Cash & Bank Balances |
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22.837 |
18.927 |
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Other Current Assets |
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Loans & Advances |
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Total
Current Assets |
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22.837 |
18.927 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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0.000 |
0.000 |
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Provisions |
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0.000 |
0.000 |
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Total
Current Liabilities |
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0.000 |
0.000 |
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Net Current Assets |
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22.837 |
18.927 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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25.013 |
20.248 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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Sales Turnover |
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163.285 |
125.245 |
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Other Income |
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0.297 |
0.676 |
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Total Income |
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163.582 |
125.921 |
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Profit/(Loss) Before Tax |
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6.785 |
6.654 |
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Provision for Taxation |
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2.300 |
2.300 |
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Profit/(Loss) After Tax |
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4.371 |
4.179 |
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Imports : |
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Total Imports |
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132.621 |
101.233 |
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Expenditures : |
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Interest |
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0.356 |
0.149 |
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Depreciation & Amortization |
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0.304 |
0.296 |
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Administrative and Selling Expenditure |
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9.789 |
7.506 |
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Other Expenses |
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146.348 |
113.316 |
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Total Expenditure |
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156.797 |
119.267 |
Sales Turnover as
on 31.03.2008 is Rs. 180.000 Millions
Expected Sales
(2007-08) : Rs. 240.000 Millions
KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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PAT / Total Income |
(%) |
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2.67 |
3.32 |
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Net Profit Margin (PBT/Sales) |
(%) |
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4.16 |
5.31 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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27.16 |
32.88 |
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Return on Investment (ROI) (PBT/Networth) |
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0.31 |
0.36 |
LOCAL AGENCY
FURTHER INFORMATION
Trade Reference
- Vishal
Enterprises, Mumbai
- J. K.
Insulations, Mumbai
Subject act as a distributor of
- Construction Chemicals of Fosroc Construction Chemicals
- Glasswool of U. P. Twiga Limited
- Bitumen Membranes Imported from Bitumat Saudi Arabian
- PR Foam from Sekesui Pilon – Australia
AS PER WEBSITE:
Profile:
The Noble Group of Companies is a pioneer in the field of bitumen and
cement based waterproofing and construction related, specialty products and
services, operating since 1935. Under the flagship of M/s. Noble Corporation,
established in early 2002, subsequent to diversification, the Company deals in
the purchase and supply of various, established insulation and waterproofing
materials, specialty construction chemicals, roofing sheets, sealants, torch
applied membranes and cold applied liquid membranes. The sister concern, M/s. Noble Protective Systems,
executes application jobs for waterproofing, roofing, flooring, insulation and expansion joints’ treatment.
The Company has a strong and experienced team force to meet the increasing
needs of the customers and offers enduring solutions to the ever–growing
construction related industry. Subject has
bagged the prestigious BVQI Certification Award ISO 9001-2000 for developing, documenting and implementing Quality
Management System for the total operations from Mumbai. This esteemed
certificate has showcased the professional standards and further enhanced the
trust and confidence of the valued clients.
The Company has large storage facility warehouses in Central Mumbai,
Bhiwandi and Wagholi (Pune) and an efficient in-house transport system to cater
to our customer’s needs promptly, economically and efficiently all over the
States of Maharashtra and Goa.
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.47.67 |
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UK Pound |
1 |
Rs.75.47 |
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Euro |
1 |
Rs.61.19 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
7 |
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PAID-UP CAPITAL |
1~10 |
7 |
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OPERATING SCALE |
1~10 |
7 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
8 |
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--PROFITABILIRY |
1~10 |
6 |
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--LIQUIDITY |
1~10 |
7 |
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--LEVERAGE |
1~10 |
7 |
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--RESERVES |
1~10 |
7 |
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--CREDIT LINES |
1~10 |
7 |
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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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63 |
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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