MIRA
INFORM REPORT
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Report Date : |
26.11.2008 |
IDENTIFICATION DETAILS
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Name : |
INTERNATIONAL
BIOLOGICAL LABORATORIES |
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Registered Office : |
369, Industrial Growth Centre, HSIDC, Saha, Ambala Cantt –
133 001, Haryana |
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Country : |
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Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
1958 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
RTKI00665A |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer and Exporter of Scientific Instruments Of
Surgical Goods and Equipments. |
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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41-55 |
Ba |
Overall
operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 25000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow and 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 reported as slow but correct. However, the
company can be considered normal for business dealings at usual trade terms
and conditions. |
INFORMATION PARTED BY
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Name : |
Mr. Amit Saxena |
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Designation : |
Manager |
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Contact No.: |
Mobile no.91-9812030484 |
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Date : |
18.11.2008 |
LOCATIONS
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Registered Office : |
Interlabs Complex, Cross Road, 8, Ambala Cantt – 133
001,Haryana |
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Tel. No.: |
91-171-4007890 |
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Area : |
500 sq. yards |
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Location : |
Owned |
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Factory : |
369, Industrial Growth Centre, HSIDC, Saha, Ambala Cantt –
133 001, |
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Tel. No.: |
91-171-2641604 / 2642604 / 26333104 / 26000156 / 2633304 / 2600056 / 5007890 |
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Mobile No.: |
91-9315100943 / 9812030484 / 9896020484 |
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Fax No.: |
91-171-2643484 |
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E-Mail : |
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Website : |
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Area : |
600 sq yards |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. H C Saxena |
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Designation : |
Proprietor |
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Date of Birth/Age : |
79 years |
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Qualification : |
B.Com |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Scientific Instruments Of
Surgical Goods and Equipments. |
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Exports : |
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Products : |
Scientific Instruments and Equipments and Biological
Material |
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Countries : |
Greece, Italy, Spain, U.K., Germany, France, UAE, U.S.A.,
Canada, Argentina, Oman, Kuwait, Indonesia, and Yemen |
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Imports : |
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Products : |
Raw Material, Semi Finished Goods and Glass Material and
Products |
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Countries : |
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Terms : |
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Selling : |
L/C, 100%, Advance by T/T |
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Purchasing : |
L/C (30 days) |
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GENERAL INFORMATION
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Customers : |
Wholesalers, End Users and Actual Users |
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No. of Employees : |
60 |
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Bankers : |
Central Bank of Address: Ambala Branch, Haryana |
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Facilities : |
OD – Rs.9.200 millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Amit Sharma and Company Chartered Accountants |
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Address : |
Ambala Cantt, Haryana |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.5.000 millions (Estimated) |
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Borrowed : |
-- |
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Total : |
Rs.5.000 millions (Estimated) |
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 |
90.000 |
40.000 |
30.000 |
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Expected Sales (2008-09): Rs.120.000 millions
LOCAL AGENCY FURTHER INFORMATION
TRADE REFERENCES:
- Ministry of
Education and Ministry of Health
WEBSITE DETAILS:
OVER FOUR
DECADES IN VOGUE
Subject was
established in the year 1958 to research, manufacture export various science and
educational requisites for schools, colleges and international market and under
the trademark interlabs tm. Now this is the third generation and interlabs tm is a modern organization with latest
technology and efficient policies.
Since inception
what has changed, is the range of products they have introduced over the time
to serve every need in the industry. What hasn't changed however is their
commitment to precision and quality. Because they know that in this business
every micron counts. This firm belief in Perfection has resulted in constant
upgradation of technology and expansion of the existing production facilities
to meet changing and exacting demands. Which means having the best of men and
machines.
The concern has its
own in-house manufacturing units, so as to have total control over quality and
produciton.
They also welcome
any custom designs, so as to manufacture the product according to END USER's
specifications and requirements. This sense of belonging has brought interlabs
to attain new heights of success.
Their motto is end
users's satisfaction. They are determined to provide their client with premium
quality product and capable enough to launch new products every month.
Interlabs tm dedication to the service of science,
education, health and industry is the rich heritage of the concern which
continues today and will be fostered in future too.
Interlabs tm: AN ISO 9001 CERTIFIED ORGANISATION:
A Bespoke industry
relentlessly engrossed in producing and exporting best quality laboratory
requisties at most affordable prices.
OBJECTIVES AND MISSIONS :
Their prime
objectives are to get introduced in new markets with reputation and develop
innovative products for Research and Education.
Their missions are to change the current business practices to more fair,
transparent and legitimate, which are aimed at development and expansion, of
the organisation with utmost honesty.
EMPLOYEES :
They are in total of
22 Line and 14 staff members, 2 Executive Members totaling 38. The workforce is
unique in the way that it has most dynamic and dedicated people at work much
more innovative than its competitors.
STRATEGY :
Catering to the
requirements of clients at given "TARGET PRICES" !!! Sounds
Interesting Isn't It ?
They have a slim
but efficient organization, which can show quick reflexes. With small top-level
management, it can have quick decision making for coping up with today's fast
paced business.
STRENGTHS :
Commitment, fast
efficient services, competitive prices because of controlled overheads. Thus
every interlabs tm Product is
Value for money with unconditional warranty.
WEAKNESSES :
Cannot compromise
with quality, workmanship and don't entertain bargaining although interlabs tm remain the most competitive in the market
across the seas and around the world. They have the products for every need and
budget.
A glance of their
product gallery will make to find out anything which, customer are looking for.
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 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.49.97 |
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1 |
Rs.75.45 |
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Euro |
1 |
Rs.64.21 |
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 |
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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46 |
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/normal. |
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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