MIRA
INFORM REPORT
|
Report Date : |
26.11.2008 |
IDENTIFICATION DETAILS
|
Name : |
FLU-CON ENTERPRISES |
|
|
|
|
Registered Office : |
A -20, Marol Nand Dham Udyog,. Premises Co-op Soc. Ltd, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2008 (Estimated) |
|
|
|
|
Year of Establishment : |
1982 |
|
|
|
|
Legal Form : |
Partnership concern with an Unlimited Liability of the Partners |
|
|
|
|
Manufacturer and
Exporter of plastic Mouldings
Equipments Machinery |
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 |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but Correct |
|
` |
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well – established concern having satisfactory track.
Trade relations are fair. Payments are reported as slow but correct. However, the concern can be considered normal for business dealings at
usual trade terms and conditions. |
INFORMATION PARTED BY
|
Name : |
Mr. Dylon R D’souza |
|
Designation : |
Partner |
|
Contact No.: |
91-9323318780 |
|
Date : |
11.11.2008 |
LOCATIONS
|
Registered Office/ Factory : |
A -20, Marol Nand Dham Udyog,. Premises Co-op Soc. Ltd, |
|
Tel. No.: |
91-22-29202071/40261818/28501818/8948/65282067 |
|
Mobile No.: |
91-9323318780 (Mr. Dylon R D’souza) |
|
Fax No.: |
91-22-29200217/28508948 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
1000 Sq.fts |
|
Location : |
Rented |
PARTNERS
|
Name : |
Mr. Dylon R D’Souza |
|
Designation : |
Partner |
|
Date of Birth/Age : |
34 years |
|
Qualification : |
Mechanical Engineers |
|
|
|
|
Name : |
Mr. Richard D’Souza |
|
Designation : |
Partner |
|
Date of Birth/Age : |
54 years |
|
Qualification : |
B. Com |
|
|
|
|
Name : |
Mrs. Leena D’Souza |
|
Designation : |
Partner |
|
Date of Birth/Age : |
51 years |
|
Qualification : |
B. Com |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of plastic
Mouldings Equipments Machinery |
|
|
|
|
Products : |
· Polyamide Cable Glands · Spiral Cable Glands · Straight Cable Glands · Flexible Cable Glands (Grey/Black) · Plastic Bushes · End Caps · Polycarbonate Meter Windows · Meter Housings · Delrin Collar Bushes · Plastic Bushes · Copper Busbar Insulators · Panel Door Knobs · Hinges · Handles · Ventilators · Pneumatic Connectors · Neutral Breaks and Connectors · Brass Neutral Links and Bases · SMC/DMC Bakelite Mouldings · Document Holders and Air Vents · Control Panel Accessories · Plastic Moulding for Various Industries · Brass/Copper/Steel Insert Moulded Components · Nylon Faced Soft Blow Hammers · Transformer and Gear Components · PVC Rubber Grommets and Closures · Rotary Joints and Housing for the Pneumatic Industry · DMC Mouldings for Switchgear, · Control Panels, Electrical Transformers, etc. · SMC Mouldings for Switchgear, Automobile and Railway Industry · Thermosetting and Thermoplastic Mouldings · PVC Rawl Plugs · UV Resistant Polycarbonate Protection Covers |
|
|
|
|
Exports : |
|
|
Products : |
Plastic Moulding, Equipment and Machinery |
|
Countries : |
|
|
|
|
|
Imports : |
|
|
Products : |
Raw Materials |
|
Countries : |
|
|
|
|
|
Terms : |
|
|
Selling : |
L/C |
|
|
|
|
Purchasing : |
L/C, Cash, Credit (30-60 days) |
GENERAL INFORMATION
|
Customers : |
End Users, OEM’s · Gringwell Norton Limited. · TATA Motors · Siemens Limited. · Godrej and Boyce Manufacturing Company Limited. · Larsen and Toubro Limited. · Crompton Greaves Limited. · Emerson Network Power · ASEA Brown Boveri Limited and many more. |
|
|
|
|
No. of Employees : |
14 (4 in Office and 10 in Factory) |
|
|
|
|
Bankers : |
· The bharat Co-operative Bank, Andheri (West) Branch ·
Axis Bank, BKC Branch, Bandra |
|
|
|
|
Banking
Relations : |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
Nilesh Mathsekar and Company Chartered Accountants |
|
Address : |
Mumbai, |
|
|
|
|
Associates/Subsidiaries : |
·
Dylon Fasteners, 503/E, |
CAPITAL STRUCTURE
|
Capital Investment : |
Not Available |
FINANCIAL DATA
[all figures are in
Rupees Millions]
|
Particulars |
|
|
31.03.2008 (Estimated) |
|
|
|
|
|
|
Sales Turnover |
|
|
15.000 |
Expected Sales (2008-09): Rs.50.000
LOCAL AGENCY FURTHER INFORMATION
TRADE REFERENCES:-
· L and T Limited
· Siemens Limited
· Tata Motors
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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.49.97 |
|
|
1 |
Rs.75.45 |
|
Euro |
1 |
Rs.64.21 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--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 |
YES |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
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
|
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. |
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 |
|